Arrua| Reporl 2010 - 2011

$59,1'/,0,7('
Err| c|| rç L| l esl y| es. . .
oirectors
Vr. Sanjay S. Lalbhal Chalrman 8 Vanaglng Olrector
Vr. !ayesh k. Shah Olrector 8 Chlef llnanclal Ohcer
Vr. Sudhlr Vehta
Or. 8akul Oholkla
Vr. Vunesh khanna
Vr. G. V. ¥adwadkar Nomlnated by lO8l 8ank Ltd.
Vr. Þrabhakar Oalal Nomlnated by Lxµort-lmµort 8ank of lndla
Vs. Þenuka Þamnath
Company Secretary
Vr. Þ.v. 8hlmanl
Bankers
State 8ank of lndla
8ank of 8aroda
UCO 8ank
State 8ank of Þatlala
HOlC 8ank Ltd.
Standard Chartered 8ank
lClCl 8ank Ltd.
Lxµort-lmµort 8ank of lndla
Axls 8ank Ltd.
State 8ank of Hyderabad
Auditors
Sorab S. Lnglneer 8 Co.
Chartered Accountants
lsmall 8ulldlng,
¸8¡, Or. O. Naorojl Þoad,
lort, Vumbal-µoo oo¡.
Þegistered Omce
Naroda Þoad,
Ahmedabad - ¸8o oz¸.
CON!LN!S
Notlce ...............................................................................................¡
Olrectors` Þeµort ...........................................................................õ
Corµorate Governance Þeµort ...................................................p
Vanagement Olscusslon and Analysls ..................................... z¡
Strategy 8 µrogrammes for
°Corµorate Soclal Þesµonslblllty" zo¡o-¡¡ ............................ z¸
Audltors` Þeµort ..........................................................................zõ
8alance Sheet ...............................................................................z8
Þroñt 8 Loss Account .................................................................zp
Cash llow Statement ................................................................. ¸o
Schedules formlng µart of Accounts .........................................¸¡
8alance Sheet Abstract 8 Comµany`s
General 8uslness Þroñle .............................................................¸µ
Consolldated llnanclal Statements .......................................... ¸¸
!he Arvlnd Overseas (Vaurltlus) Llmlted ...............................;8
Arvlnd Sµlnnlng Llmlted .............................................................8z
Arvlnd !extlle Vllls Llmlted ....................................................... 8õ
Shareµro Servlces (lndla) Þrlvate Llmlted
µ¡õ-µzo, µth lloor, Oevnandan Vall,
Oµµ. Sanyas Ashram, Llllsbrldge,
Ahmedabad - ¸8o ooõ.
Þhone Nos.: o;p-zõ¸8z¸8¡ to 8µ
lax No.: o;p-zõ¸8z¸8¸
L-mall: shareµro.ahmedabadQshareµroservlces.com
ÞLelS1ÞAÞS ANo 1ÞANSlLÞ AeLN1S
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Notlce
HO¯lCL |s |ereby g|ven t|at t|e Annua| Cenera| |eet|ng ot t|e members
ot t|e Company w||| be |e|o on lr|oay, t|e ¸ot| September, .o:: at :o.¸o
a.m. at ¯|a|oreb|a| Lesa| la||, Hear Law Caroen, L|||sbr|oge, A|meoabao -
¸8ooo6 to transact t|e to||ow|ng 3us|ness.
OÞolNAÞY BuSlNLSS
:. ¯o rece|ve, cons|oer ano aoopt t|e Auo|teo Statements ot Accounts
tor t|e nnanc|a| year enoeo on ¸:st |arc|, .o:: ano t|e leports ot t|e
L|rectors ano Auo|tors t|ereon.
.. ¯o appo|nt a L|rector |n p|ace ot |r. Sanjay S. La|b|a|, w|o ret|res by
rotat|on |n terms ot Art|c|e :., ot t|e Art|c|es ot Assoc|at|on ot t|e
Company ano be|ng e||g|b|e, oners ||mse|t tor reappo|ntment.
¸. ¯o appo|nt a L|rector |n p|ace ot |r. Suo||r |e|ta, w|o ret|res by
rotat|on |n terms ot Art|c|e :., ot t|e Art|c|es ot Assoc|at|on ot t|e
Company ano be|ng e||g|b|e, oners ||mse|t tor reappo|ntment.
,. ¯o appo|nt auo|tors ano to nx t|e|r remunerat|on.
SÞLClAL BuSlNLSS
¸. ¯o cons|oer, ano |t t|oug|t nt, to pass w|t| or w|t|out moo|ncat|on(s),
t|e to||ow|ng leso|ut|on, as an Oro|nary leso|ut|on.
lLSOLvLL ¯lA¯ |s. lenu|a lamnat|, w|o was appo|nteo as an
Aoo|t|ona| L|rector ot t|e Company by t|e 3oaro ot L|rectors pursuant
to Sect|on .6o ot t|e Compan|es Act, :,¸6 ano w|o |o|os t|e omce
upto t|e oate ot t||s Annua| Cenera| |eet|ng ano |n respect w|om t|e
Company |as rece|veo a not|ce |n wr|t|ng trom a member propos|ng
|er cano|oature tor t|e omce ot L|rector 0/s. .¸, ot t|e Compan|es Act,
:,¸6, be|ng e||g|b|e tor appo|ntment to t|e omce ot L|rector, be ano |s
|ereby appo|nteo a L|rector ot t|e Company ||ab|e to ret|re by rotat|on.
6. ¯o cons|oer, ano |t t|oug|t nt, to pass w|t| or w|t|out moo|ncat|on(s),
t|e to||ow|ng leso|ut|on, as a Spec|a| leso|ut|on.
lLSOLvLL ¯lA¯ pursuant to t|e prov|s|ons ot Sect|ons :,8, .6,, ¸o,,
reao w|t| Sc|eou|e Xlll ano ot|er app||cab|e prov|s|ons, |t any, ot t|e
Compan|es Act, :,¸6, (|nc|uo|ng any amenoment t|ereto or enactment
t|ereot tor t|e t|me be|ng |n torce) t|e consent ot t|e Company be ano |s
|ereby accoroeo to t|e terms ot reappo|ntment ot |r. !ayes| k. S|a| as
v|o|et|me L|rector w|t| t|e oes|gnat|on ot L|rector ano C||et l|nanc|a|
Omcer ot t|e Company, tor a turt|er per|oo ot t|ree years trom :st
October, .o:: to ¸ot| September, .o:, on t|e terms ano cono|t|ons
as set out |n t|e oratt agreement ot t|e reappo|ntment subm|tteo to
t|e meet|ng ano |n|t|a|eo by t|e C|a|rman tor |oent|ncat|on ano t|at
|e be pa|o remunerat|on by way ot sa|ary, perqu|s|tes, a||owances ano
comm|ss|on as approveo by t|e 3oaro ot L|rectors ot t|e Company
ano t|e lemunerat|on Comm|ttee ano as set out |n t|e Lxp|anatory
Statement annexeo |ereto.
lLSOLvLL l0l¯lLl ¯lA¯ t|e 3oaro ot L|rectors ano t|e lemunerat|on
Comm|ttee be ano are |ereby severa||y aut|or|seo to a|ter, ameno, vary,
en|ance or moo|ty t|e scope ano quantum ot remunerat|on ot |r. !ayes|
k. S|a| as t|ey may oeem proper trom t|me to t|me cons|oer|ng t|e nature
ano scope ot ||s act|v|t|es as s|a|| be perm|ss|b|e ano |n contorm|ty w|t|
app||cab|e prov|s|ons ot t|e Compan|es Act, :,¸6.
,. ¯o cons|oer ano, |t t|oug|t nt, to pass w|t| or w|t|out moo|ncat|on(s),
t|e to||ow|ng reso|ut|on as a Spec|a| leso|ut|on .
lLSOLvLL ¯lA¯ pursuant to t|e prov|s|ons ot Sect|on :,, :8 ano ot|er
app||cab|e prov|s|ons, |t any, ot t|e Compan|es Act, :,¸6 ano subject to
necessary approva|s, perm|ss|ons, sanct|ons ot any aut|or|ty, Statutory
or ot|erw|se, as may be requ|reo ano subject to suc| cono|t|ons ano
moo|ncat|ons as may be prescr|beo by t|ese aut|or|t|es, t|e |a|n Object
C|ause (.) ot |emoranoum ot Assoc|at|on ot t|e Company be ano |s
|ereby a|tereo by |nsert|ng to||ow|ng new Sub C|ause (.)(s) atter ex|st|ng
C|ause (.)(r) so as to reao as unoer .
(.)(s) ¯o carry on bus|ness as bu||oers, contractors, oeve|opers ano to
engage |n oeve|opment ot |ano ano/or bu||o|ng property ot any tenure,
nature or ||no ano to engage |n organ|zat|on, purc|ase, trao|ng, sa|e,
|ease, exc|ange ot property ano to construct, ma|nta|n, repa|r, renovate
property, |tse|t or t|roug| ot|er agenc|es ano to |o|o property tor
oeve|opment, construct|on, sa|e, |ease, ||re, or exc|ange ano to part|c|pate
|n jo|nt ventures tor oeve|opment ot property ano to prov|oe serv|ces tor
oeve|opment ot |ano ano/or bu||o|ng, property, rea| estate consu|tancy,
rea| estate bro|erage, construct|on management, arc||tecture,
eng|neer|ng ano ot|er tec|n|ca| serv|ces, |nter|or oes|gn serv|ces
ano to carry on ano unoerta|e t|e bus|ness ot owners||p, operat|on,
ma|ntenance, management, aom|n|strat|on, protect|on ano up|eep ot
serv|ce apartments, 3u||o|ng, Co|on|es, ¯owns||ps, Comp|exes, louses,
Sc|oo|s, Lepartmenta| Stores, lote|s, lestaurants, lesorts, C|ubs,
lecreat|ona| lac|||t|es, Þar|s, loaos, 3asements, Open Spaces, Common
Areas, Common lac|||t|es ano to prov|oe |ntrastructura| tac|||t|es.
lLSOLvLL l0l¯lLl ¯lA¯ a|| t|e cop|es ot |emoranoum ot
Assoc|at|on ot t|e Company be a|tereo accoro|ng|y.
lLSOLvLL l0l¯lLl ¯lA¯ t|e 3oaro ot L|rectors (|nc|uo|ng any
comm|ttee t|ereot) be ano are |ereby aut|or|seo to oo a|| suc| acts,
oeeos, matters ano t||ngs as may be cons|oereo oes|rab|e, expeo|ent ano
necessary ano to n|e necessary lorms / leturns / App||cat|ons / Locuments
/ Þapers as are requ|reo to be n|eo w|t| t|e omce ot t|e leg|strar ot
Compan|es, Cujarat, A|meoabao ano ot|er aut|or|t|es, Statutory or
ot|erw|se as may be requ|reo to g|ve enect to t||s reso|ut|on.
8. ¯o cons|oer ano, |t t|oug|t nt, to pass w|t| or w|t|out moo|ncat|on(s),
t|e to||ow|ng reso|ut|on as a Spec|a| leso|ut|on .
lLSOLvLL ¯lA¯ pursuant to t|e prov|s|ons ot Sect|on :,, (.A) ano
ot|er app||cab|e prov|s|ons, |t any, ot t|e Compan|es Act, :,¸6, approva|
ot t|e s|are|o|oers be ano |s |ereby accoroeo to t|e Company tor
commencement ot bus|ness spec|neo |n t|e sub-c|ause (s) ot C|ause (.)
ot t|e object c|ause ot |emoranoum ot Assoc|at|on ot t|e Company.
,. ¯o cons|oer ano |t t|oug|t nt, to pass w|t| or w|t|out moo|ncat|on(s),
t|e to||ow|ng reso|ut|on as a Spec|a| leso|ut|on.
lLSOLvLL ¯lA¯ subject to approva| ot s|are|o|oers ano pursuant to
t|e prov|s|ons ot Sect|on 8:(:A) ano ot|er app||cab|e prov|s|ons, |t any,
ot t|e Compan|es Act, :,¸6 (|nc|uo|ng any amenoments t|ereto or re-
enactment t|ereot, tor t|e t|me be|ng |n torce) ano t|e prov|s|ons ot t|e
lore|gn Lxc|ange |anagement Act, .ooo (lL|A), lore|gn Lxc|ange
|anagement (¯ranster or |ssue ot Secur|ty by a Þerson les|oent Outs|oe
lno|a) legu|at|ons, .ooo, lssue ot lore|gn Currency Convert|b|e 3onos ano
Oro|nary S|ares (¯|roug| Lepos|tory lece|pt |ec|an|sm) Sc|eme, :,,¸ as
amenoeo, t|e Secur|t|es ano Lxc|ange 3oaro ot lno|a (SL3l) legu|at|ons ano
|n accoroance w|t| t|e ru|es, regu|at|ons, gu|oe||nes, not|ncat|ons, c|rcu|ars
ano c|ar|ncat|ons |ssueo t|ereon trom t|me to t|me by Covernment ot lno|a
(COl), t|e leserve 3an| ot lno|a (l3l), SL3l ano/or any ot|er competent
aut|or|t|es ano t|e enab||ng prov|s|ons ot t|e |emoranoum ano Art|c|es
ot Assoc|at|on ot t|e Company, t|e L|st|ng Agreements entereo |nto by
t|e Company w|t| t|e stoc| exc|anges on w||c| t|e Company's s|ares
are ||steo ano subject to necessary approva|s, perm|ss|ons, consents ano
sanct|ons ot concerneo statutory ano ot|er aut|or|t|es ano subject to suc|
cono|t|ons ano moo|ncat|ons as may be prescr|beo by any ot t|em w|||e
grant|ng suc| approva|s, perm|ss|ons, consents ano sanct|ons ano w||c|
may be agreeo to by t|e 3oaro ot L|rectors ot t|e Company (|ere|natter
reterreo to as t|e °3oaroº, w||c| term s|a|| |nc|uoe any comm|ttee t|ereot)
consent ot t|e Company be ano |s |ereby accoroeo to t|e 3oaro to create,
oner, |ssue ano a||ot (|nc|uo|ng w|t| prov|s|ons tor reservat|on on nrm ano/
or compet|t|ve bas|s, ot suc| part ot |ssue ano tor suc| categor|es ot persons
|nc|uo|ng emp|oyees ot t|e Company as may be perm|tteo) e|t|er |n lno|a
or |n t|e course ot |nternat|ona| oner|ng(s) |n one or more tore|gn mar|ets,
suc| number ot C|oba| Lepos|tory lece|pts (CLls), lore|gn Currency
Convert|b|e 3onos (lCC3s), w|t| or w|t|out a green s|oe opt|on |nc|uo|ng
by way ot a qua||neo |nst|tut|ona| p|acement unoer t|e prov|s|ons ot C|apter
vlll ot t|e SL3l (lssue ot Cap|ta| ano L|sc|osure lequ|rements) legu|at|ons
.oo, {"SLBl lCoÞ Þegulations"} Lqu|ty S|ares ano/or Lqu|ty S|ares
(t|roug| Lepos|tory lece|pt |ec|an|sm or o|rect|y to |nvestors) ano/
or any ot|er nnanc|a| |nstruments convert|b|e |nto Lqu|ty S|ares or
ot|erw|se, |n reg|stereo or bearer torm ano/or any secur|ty convert|b|e |nto
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
z
Lqu|ty S|ares, secur|t|es, ||n|eo to Lqu|ty S|ares ano/or secur|t|es w|t| or
w|t|out oetac|ab|e warrants w|t| r|g|t exerc|sab|e by t|e warrant |o|oers
to convert or subscr|be to Lqu|ty S|ares prov|oeo t|at t|e equ|ty s|ares
|ssueo oo not exceeo tor an aggregate va|ue up to C ¸oo Crores |nc|uo|ng
t|e |ssue ano a||otment ot equ|ty s|ares pursuant to a Creen S|oe Opt|on,
|t any, (a|| ot w||c| are |ere|natter co||ect|ve|y reterreo to as "Securities"}
or any comb|nat|on ot Secur|t|es, |n one or more tranc|es, w|et|er rupee
oenom|nateo or oenom|nateo |n tore|gn currency, to any e||g|b|e person,
|nc|uo|ng tore|gn/res|oent |nvestors (w|et|er |nst|tut|ons, |ncorporateo
boo|es, mutua| tunos, |no|v|oua|s or ot|erw|se), lore|gn lnst|tut|ona|
lnvestors, lno|an ano/or |u|t||atera| l|nanc|a| lnst|tut|ons, |utua| lunos,
Hon-les|oent lno|ans, stab|||z|ng agents ano/or any ot|er categor|es
ot |nvestors, w|et|er t|ey be |o|oers ot s|ares ot t|e Company or not
(co||ect|ve|y ca||eo t|e °lnvestorsº) t|roug| pub||c |ssue(s) ot prospectus,
pr|vate p|acement(s), or a comb|nat|on t|ereot at suc| t|me or t|mes, at
suc| pr|ce or pr|ces, at a o|scount or prem|um to mar|et pr|ce or pr|ces |n
suc| manner ano on suc| terms ano cono|t|ons |nc|uo|ng secur|ty, rate ot
|nterest etc. as may be oeemeo appropr|ate by t|e 3oaro at |ts abso|ute
o|scret|on |nc|uo|ng t|e o|scret|on to oeterm|ne t|e categor|es ot lnvestors
to w|om t|e oner, |ssue ano a||otment s|a|| be maoe to t|e exc|us|on ot
ot|er categor|es ot lnvestors at t|e t|me ot suc| oner, |ssue ano a||otment
cons|oer|ng t|e preva|||ng mar|et cono|t|ons ano ot|er re|evant tactors ano
w|erever necessary |n consu|tat|on w|t| Leao |anagers, as t|e 3oaro at |ts
abso|ute o|scret|on may oeem nt ano appropr|ate.
lLSOLvLL l0l¯lLl ¯lA¯ pursuant to t|e prov|s|ons ot Sect|on 8:(:A)
ano ot|er app||cab|e prov|s|ons, |t any, ot t|e Compan|es Act, :,¸6 (|nc|uo|ng
any amenoments t|ereto or re-enactment t|ereot), t|e prov|s|ons ot
C|apter vlll ot t|e SLBl lCoÞ Þegulations ano t|e prov|s|ons ot t|e
lore|gn Lxc|ange |anagement Act, .ooo, lore|gn Lxc|ange |anagement
(¯ranster or |ssue ot Secur|ty by a Þerson les|oent Outs|oe lno|a)
legu|at|ons, .ooo, t|e 3oaro ot L|rectors may at t|e|r abso|ute o|scret|on,
|ssue, oner ano a||ot equ|ty s|ares or secur|t|es convert|b|e |nto equ|ty
s|ares tor a va|ue up to t|e aggregate amount ot C ¸oo Crores (lupees
¯|ree lunoreo Crores On|y) |nc|us|ve ot suc| prem|um, as spec|neo above,
to Qua||neo lnst|tut|ona| 3uyers (as oenneo by t|e SL3l lCLl legu|at|ons)
pursuant to a Qua||neo lnst|tut|ona| Þ|acement (QlÞ), as prov|oeo unoer
C|apter vlll ot t|e SL3l lCLl legu|at|ons .
lLSOLvLL l0l¯lLl ¯lA¯ t|e 3oaro be ano |s |ereby aut|or|zeo to |ssue
ano a||ot suc| number ot Lqu|ty S|ares as may be requ|reo to be |ssueo
ano a||otteo upon convers|on ot any Secur|t|es or as may be necessary
|n accoroance w|t| t|e terms ot t|e oner|ng, a|| suc| s|ares ran||ng par|
passu w|t| t|e ex|st|ng Lqu|ty S|ares ot t|e Company |n a|| respects.
lLSOLvLL l0l¯lLl ¯lA¯.
(a) t|e Secur|t|es to be so onereo, |ssueo ano a||otteo s|a|| be subject
to t|e prov|s|ons ot t|e |emoranoum ano Art|c|es ot Assoc|at|on
ot t|e Company, ano
(b) t|e re|evant oate tor t|e oeterm|nat|on ot app||cab|e pr|ce tor t|e
|ssue ot t|e Secur|t|es means t|e oate ot t|e meet|ng |n w||c| t|e
3oaro ot t|e Company or t|e Comm|ttee ot L|rectors oec|oes to
open t|e proposeo |ssue.
lLSOLvLL l0l¯lLl ¯lA¯ t|e |ssue ot Lqu|ty S|ares unoer|y|ng
t|e Secur|t|es to t|e |o|oer ot t|e Secur|t|es s|a||, X]cTa P[XP, be
subject to t|e to||ow|ng terms ano cono|t|ons.
(a) |n t|e event ot t|e Company ma||ng a bonus |ssue by way ot
cap|ta||zat|on ot |ts pronts or reserves pr|or to t|e a||otment ot
t|e Lqu|ty S|ares, t|e number ot Lqu|ty S|ares to be a||otteo s|a||
stano augmenteo |n t|e same proport|on |n w||c| t|e equ|ty s|are
cap|ta| |ncreases as a consequence ot suc| bonus |ssue ano t|e
prem|um, |t any, s|a|| stano reouceo pro tanto,
(b) |n t|e event ot t|e Company ma||ng a r|g|ts oner by |ssue ot Lqu|ty
S|ares pr|or to t|e a||otment ot t|e Lqu|ty S|ares, t|e ent|t|ement
to t|e Lqu|ty S|ares w||| stano |ncreaseo |n t|e same proport|on as
t|at ot t|e r|g|ts oner ano suc| aoo|t|ona| Lqu|ty S|ares s|a|| be
onereo to t|e |o|oers ot t|e Secur|t|es at t|e same pr|ce at w||c|
t|e same are onereo to t|e ex|st|ng s|are|o|oers, ano
(c) |n t|e event ot merger, ama|gamat|on, ta|eover or any ot|er re-
organ|zat|on or restructur|ng, t|e number ot s|ares, t|e pr|ce ano
t|e t|me per|oo as atoresa|o s|a|| be su|tab|y aojusteo.
lLSOLvLL l0l¯lLl ¯lA¯ t|e 3oaro be ano |s |ereby aut|or|zeo to
appo|nt t|e Leao |anagers, 0noerwr|ters, Cuarantors, Lepos|tor|es,
Custoo|ans, leg|strars, Stab|||z|ng Agent, ¯rustees, 3an|ers, Lawyers,
Aov|sors ano a|| suc| agenc|es as may be |nvo|veo or concerneo |n suc|
oner|ngs ot Secur|t|es ano to remunerate t|em by way ot comm|ss|on,
bro|erage, tees or t|e |||e ano a|so to enter |nto ano execute a|| suc|
arrangements, agreements, memoranoa, oocuments etc. w|t| suc|
agenc|es ano to see| t|e ||st|ng ot suc| Secur|t|es on one or more
nat|ona| ano/or |nternat|ona| stoc| exc|ange(s).
lLSOLvLL l0l¯lLl ¯lA¯ tor t|e purpose ot g|v|ng enect to t|e above
reso|ut|on, t|e 3oaro be ano |s |ereby aut|or|zeo ta|e suc| steps ano
to oo a|| suc| acts, oeeos, matters ano t||ngs as |t may, |n |ts abso|ute
o|scret|on oeem necessary ano oes|rab|e |nc|uo|ng t|e n||ng ot any
torms, ||st|ng app||cat|ons, oner oocuments, reg|strat|on statements
ano any ot|er oocuments or any oratts t|ereot or any amenoment(s)
or supp|ements t|ereto, w|t| any stoc| exc|ange or ot|er regu|atory
aut|or|ty w|et|er |n lno|a or abroao ano to sett|e any quest|on, o|mcu|ty
or ooubt t|at may ar|se |n regaro to t|e oner, |ssue ano a||otment ot
Secur|t|es ano approv|ng t|e |ssue pr|ce, arrang|ng t|e oe||very ano
execut|on ot a|| contracts, agreements ano a|| ot|er oocuments, oeeos,
ano |nstruments as may be requ|reo or oes|rab|e |n connect|on w|t|
t|e |ssue ot equ|ty s|ares by t|e Company, open|ng a separate spec|a|
account w|t| a sc|eou|eo ban| to rece|ve mon|es |n respect ot t|e |ssue
ot t|e equ|ty s|ares ot t|e Company.
A |L|3Ll LH¯l¯LLL ¯O A¯¯LHL AHL vO¯L A¯ ¯lL |LL¯lHC lS LH¯l¯LLL
¯O AÞÞOlH¯ A ÞlOX/ ¯O A¯¯LHL AHL vO¯L lHS¯LAL Ol ll|SLLl AHL A
ÞlOX/ HLLL HO¯ 3L A |L|3Ll.
Þeglstered Ohce: 8y Order of the 8oard
Naroda Þoad,
Ahmedabad-¸8o oz¸ SAN1AY S. LALBHAl
Oate : zoth Vay, zo¡¡ Chalrman 8 Vanaglng Olrector
N O 1 L S
:. Þrox|es, |n oroer to be enect|ve, s|ou|o be ou|y stampeo, comp|eteo,
s|gneo ano oepos|teo at t|e leg|stereo Omce ot t|e Company not |ess
t|an ,8 |ours betore t|e meet|ng.
.. Þursuant to Sect|on .o¸C ot t|e Compan|es Act, :,¸6, a|| unc|a|meo o|v|oenos
up to t|e nnanc|a| year enoeo ¸:st |arc|, :,,8 |ave been transterreo to t|e
lnvestor Loucat|on ano Þrotect|on luno (lLÞl) ot t|e Centra| Covernment.
¯|e Company o|o not oec|are any o|v|oenos on equ|ty s|ares tor t|e nnanc|a|
years :,,8-,, to .oo¸-o,.
¸. |embers are requesteo to not|ty prompt|y any c|ange |n t|e|r aooresses
to our leg|strar ano ¯ranster Agent v|z. S|arepro Serv|ces (lno|a) Þr|vate
L|m|teo, 0n|t. Arv|no L|m|teo, ,:6-,.o, ,t| l|oor, Levnanoan |a||, Opp.
Sanyas As|ram, L|||sbr|oge, A|meoabao- ¸8o oo6.
,. ¯|e leg|ster ot |embers ano S|are ¯ranster 3oo|s ot t|e Company w|||
rema|n c|oseo trom Saturoay, t|e .,t| September, .o:: to lr|oay, t|e
¸ot| September, .o:: (bot| oays |nc|us|ve).
¸. Locuments reterreo to |n t|e Lxp|anatory Statement attac|eo |ereto are
ava||ab|e tor |nspect|on by t|e s|are|o|oers at t|e leg|stereo Omce ot t|e
Company our|ng bus|ness |ours on any wor||ng oay.
6. |embers are requesteo to br|ng t|e|r cop|es ot t|e Annua| leport to t|e
meet|ng. ¯|e |embers/Þrox|es s|ou|o br|ng t|e Attenoance S||p sent
|erew|t| ou|y n||eo |n tor atteno|ng t|e meet|ng.
,. S|are|o|oers |nteno|ng to requ|re |ntormat|on about Accounts to be
exp|a|neo |n t|e |eet|ng are requesteo to |ntorm t|e Company at |east ,
oays |n aovance ot t|e Annua| Cenera| |eet|ng.
Þeglstered Ohce: 8y Order of the 8oard
Naroda Þoad,
Ahmedabad-¸8o oz¸ SAN1AY S. LALBHAl
Chalrman 8 Vanaglng Olrector
Oate : zoth Vay, zo¡¡
¸
ltem No. y
¯|e 3oaro ot L|rectors ot t|e Company at t|e|r meet|ng |e|o on .8t| October,
.o:o appo|nteo |s. lenu|a lamnat| as an Aoo|t|ona| L|rector ot t|e Company.
¯|e sa|o appo|ntment was |n pursuance ot t|e prov|s|ons ot Sect|on .6o ot t|e
Compan|es Act, :,¸6 ano accoro|ng|y t|e sa|o L|rector |o|os omce upto t|e
oate ot t||s Annua| Cenera| |eet|ng. ¯|e Company |as rece|veo a not|ce |n
wr|t|ng a|ongw|t| t|e necessary amount as oepos|t trom a member s|gn|ty|ng
||s |ntent|on to propose |er cano|oature tor t|e omce ot t|e L|rector, |n terms
ot Sect|on .¸, ot t|e Compan|es Act, :,¸6.
|s. lenu|a lamnat| |s t|e lounoer ano |anag|ng L|rector ot |u|t|p|es
A|ternate Asset |anagement w||c| see|s to manage c|rca $,¸o m||||on ot
lno|an ano lnternat|ona| cap|ta|.
ln |er career spann|ng near|y two ano a |a|t oecaoes |n t|e lno|an nnanc|a|
sector, |s. lenu|a lamnat| |as been |nvo|veo w|t| bu||o|ng severa| bus|nesses
trom scratc| |n t|e lClCl Croup w||c| |nc|uoe lnvestment 3an||ng, Structureo
l|nance ano e-Commerce |n t|e :,,os ano Þr|vate Lqu|ty |n .ooo, muc| betore
eac| ot t|ese terms became ub|qu|tous |n lno|an mar|etp|ace.
|s. lenu|a lamnat| |eo lClCl venture to become lno|a's |argest pr|vate
equ|ty tuno w|||st transtorm|ng t|e nrm trom a ban|'s |nvestment arm to a
trao|t|ona| b|ue-c||p pr|vate equ|ty tuno manag|ng substant|a| amounts ot
t||ro party cap|ta| - bot| oomest|c ano |nternat|ona|. A|| tour tunos ra|seo by
|er (aggregat|ng to 0S$:.¸ b||||on) |ave been t|e t|en |argest oomest|c tunos
ra|seo |n t|e lno|an mar|et.
|s. lenu|a lamnat| |as oemonstrateo |er ab|||ty to |oent|ty ano conceptua||ze
new bus|ness opportun|t|es, create ||g| qua||ty teams ano qu|c||y bu||o t|ese
bus|nesses to sca|e. As a resu|t, s|e |as teatureo |n many prest|g|ous ||st|ngs,
|nc|uo|ng t|e ¯op .¸ |ost Þowertu| vomen |n 3us|ness (3us|ness ¯ooay, lno|a),
lno|a's most Þowertu| CLO's (Lconom|c ¯|mes) ano |n t|e ¯op .¸ Hon 3an|
vomen |n l|nance (0S 3an|er's g|oba| ||st).
¯|e oeta||s ot L|rectors||ps, |embers||ps/C|a|rpersons||ps ot Comm|ttees ot
ot|er Compan|es |e|o by |s. lenu|a lamnat| are as unoer .
L|rectors||ps |e|o |n ot|er Compan|es. |embers||ps/C|a|rpersons||ps
ot Comm|ttees ot ot|er
Compan|es.
:. |u|t|p|es Lqu|ty luno ¯rustee Þr|vate
L|m|teo
.. S|r| Hat| C Corporate |anagement
Serv|ces Þr|vate L|m|teo
¸. |u|t|p|es A|ternate Asset
|anagement Þr|vate L|m|teo
Homembers||por
C|a|rpersons||p|nanycomm|ttee
ot ot|ercompan|es.
|s. lenu|a lamnat| |s not |o|o|ng any s|ares ot t|e Company ano |s not
re|ateo to any L|rector ot t|e Company.
¯|e 3oaro commenos t|e reso|ut|on at ltem Ho. ¸ tor approva| ot members.
|s. lenu|a lamnat| may be oeemeo to be concerneo or |nteresteo |n t|e sa|o
reso|ut|on re|at|ng to |er appo|ntment. Ho ot|er L|rectors are |n any manner
concerneo or |nteresteo |n t|e sa|o reso|ut|on.
ltem No. 6
leso|ut|on unoer ltem Ho. 6 ot t|e Hot|ce re|ates to t|e reappo|ntment ot |r.
!ayes| k. S|a| as v|o|et|me L|rector w|t| t|e oes|gnat|on ot L|rector ano
C||et l|nanc|a| Omcer ot t|e Company tor a turt|er per|oo ot t|ree years trom
:st October, .o:: to ¸ot| September, .o:, ano approva| ot ||s remunerat|on
ano terms ot reappo|ntment.
¯|e lemunerat|on Comm|ttee, at |ts meet|ng |e|o on .ot| |ay, .o::, |ao
recommenoeo t|e reappo|ntment ot |r. !ayes| k. S|a| as v|o|et|me
L|rector w|t| t|e oes|gnat|on ot L|rector ano C||et l|nanc|a| Omcer ot t|e
Company ano terms ot remunerat|on payab|e to ||m tor a turt|er per|oo ot
t|ree years trom :st October, .o:: to ¸ot| September, .o:,. ¯|e 3oaro ot
L|rectors, at t|e|r meet|ng |e|o on .ot| |ay, .o::, |ao approveo t|e same.
¯|e lemunerat|on Comm|ttee ano t|e 3oaro ot L|rectors ot t|e Company
are ot t|e op|n|on t|at |e |s nt ano proper person to |o|o t|e sa|o omce ano ||s
reappo|ntment w||| be |n t|e |nterest ot t|e Company.
LXÞLANA1OÞY S1A1LMLN1 ÞuÞSuAN1 1O SLC1lON vy¿ Ol 1HL COMÞANlLS AC1, vpy6
¯|e mater|a| terms ot remunerat|on ot |r. !ayes| k. S|a| enect|ve trom :st
October, .o:: to ¸ot| September, .o:, as approveo by bot| lemunerat|on
Comm|ttee ano 3oaro ot L|rectors |n t|e|r respect|ve meet|ngs |e|o on .ot|
|ay, .o:: are as unoer.
Þemuneration:
(a) 3as|c Sa|ary .
C ¸,¸o,6.¸ (lupees ¯|ree Lacs ¯||rty ¯|uosano S|x lunoreotwenty l|ve
on|y) per mont| w|t| suc| |ncrease as may be oec|oeo by t|e 3oaro ot
L|rectors (w||c| |nc|uoes any Comm|ttee t|ereot) trom t|me to t|me, but
subject to max|mum sa|ary ot C :o,oo,ooo (lupees ¯en Lacs) per mont|.
(b) Þerqu|s|tes ano A||owances.
ln aoo|t|on to sa|ary, t|e to||ow|ng perqu|s|tes / a||owances s|a|| be
a||oweo to t|e L|rector 8 C||et l|nanc|a| Omcer.
CA1LeOÞY - A
i} Housing :
¯|e Company s|a|| prov|oe turn|s|eo accommooat|on to t|e L|rector 8
C||et l|nanc|a| Omcer. lt t|e L|rector 8 C||et l|nanc|a| Omcer |s |av|ng ||s
own accommooat|on, t|e Company s|a|| pay |ouse rent a||owance at t|e
rate ot ¸o/ ot t|e 3as|c Sa|ary.
¯|e Company s|a|| prov|oe equ|pment ano app||ances, turn|ture, nxtures
ano turn|s||ng at t|e res|oence ot t|e L|rector 8 C||et l|nanc|a| Omcer at
t|e ent|re cost ot t|e Company. ¯|e Company s|a|| re|mburse t|e expenses
ot ma|ntenance, e|ectr|c|ty, servants etc.
ii} Other Allowances:
¯|e Company s|a|| pay ot|er a||owances as per t|e Company's po||cy.
iii} Þersonal Accident lnsurance:
¯|e Company s|a|| pay / re|mburse Þersona| Acc|oent lnsurance
Þrem|um upto C.¸,ooo tor t|e L|rector 8 C||et l|nanc|a| Omcer.
iv} Club lees:
¯|e Company s|a|| re|mburse annua| tees tor a max|mum ot . c|ubs.
¯|e aggregate va|ue ot perqu|s|tes tor (|) to (|v) above tor eac| year s|a|| be
computeo as per t|e prov|s|ons ot lncome-¯ax Act, :,6:. ln case ot benents
tor w||c| no spec|nc ru|e ot va|uat|on |s prov|oeo unoer t|e lncome-¯ax
Act, t|e perqu|s|tes va|ue ot suc| benent s|a|| be ta|en at actua| cost.
v} Medical Þeimbursement:
|eo|ca| Lxpenses actua||y |ncurreo tor se|t ano tam||y s|a|| be re|mburseo
by t|e Company.
CA1LeOÞY - B
|) ¯|e Company s|a|| contr|bute towaros Þrov|oent luno/ Superannuat|on
luno/Annu|ty luno prov|oeo t|at suc| contr|but|ons e|t|er s|ng|y or
put toget|er s|a|| not exceeo t|e tax-tree ||m|t prescr|beo unoer t|e
lncome-tax Act.
||) ¯|e Company s|a|| pay Cratu|ty as per ru|es ot t|e Company.
|||) Leave on tu|| pay ano a||owances, as per ru|es ot t|e Company, but
not more t|an one mont|'s |eave tor every e|even mont|s ot serv|ce.
lowever, t|e |eave accumu|ateo but not ava||eo ot w||| be a||oweo to be
encas|eo at t|e eno ot t|e term as per ru|es ot t|e Company.
¯|e above s|a|| not be |nc|uoeo |n t|e computat|on ot ce|||ng on
remunerat|on or perqu|s|tes atoresa|o.
CA1LeOÞY - C
|) ¯|e Company s|a|| prov|oe car(s) w|t| or|ver at t|e ent|re cost ot t|e
Company tor use on Company's bus|ness ano t|e same w||| not be
cons|oereo as perqu|s|tes.
||) ¯|e Company s|a|| prov|oe te|ep|one ano ot|er commun|cat|on
tac|||t|es at t|e res|oence ot t|e L|rector 8 C||et l|nanc|a| Omcer at t|e
ent|re cost ot t|e Company.
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
µ
CA1LeOÞY - o
¯|e L|rector ano C||et l|nanc|a| Omcer s|a|| be ent|t|eo to Þertormance
L|n|eo var|ab|e Þay/Spec|a| A||owance/lo|e Awaro/3onus/Comm|ss|on on
pronts etc. or |n any ot|er torm ot C:¸o |acs per annum or suc| ot|er amount
as t|e lemunerat|on Comm|ttee may oeterm|ne w|t||n t|e overa|| ||m|t ot
remunerat|on prescr|beo unoer Sect|ons :,8 ano ¸o, ano ot|er app||cab|e
prov|s|ons ot t|e Compan|es Act :,¸6.
Overa|| L|m|t .
¯|e atoresa|o remunerat|on |s subject to t|e ||m|t ot ¸/ ot t|e annua| net pronts
ot t|e Company ano subject turt|er to t|e overa|| ||m|t ot :o/ ot t|e annua|
net pronts ot t|e Company. Hotw|t|stano|ng anyt||ng to t|e contrary |ere|n
conta|neo, w|ere |n any nnanc|a| year our|ng t|e currency ot tenure ot t|e
L|rector 8 C||et l|nanc|a| Omcer, t|e Company |as no pronts or |ts pronts are
|naoequate, t|e Company w||| pay remunerat|on tor a per|oo not exceeo|ng t|ree
years by way ot sa|ary, comm|ss|on ano perqu|s|tes as prov|oeo above or t|e
max|mum remunerat|on payab|e as per t|e ||m|ts set out |n Sect|on ll ot Þart ll ot
Sc|eou|e Xlll ot t|e Compan|es Act, :,¸6, w||c|ever |s |ower, un|ess ot|erw|se
oeterm|neo by t|e 3oaro ot L|rectors or t|e lemunerat|on Comm|ttee, subject
to approva| ot Centra| Covernment, |t requ|reo, as ||n|mum lemunerat|on.
¯|e above ment|oneo remunerat|on may be a|tereo, amenoeo, var|eo,
en|anceo or moo|neo trom t|me to t|me by t|e 3oaro ot L|rectors ot Company
or t|e lemunerat|on Comm|ttee as |t may, at |ts o|scret|on, oeem nt, w|t||n
t|e max|mum amount payab|e to |anag|ng ano v|o|e ¯|me L|rectors |n
accoroance w|t| t|e prov|s|ons ot t|e Compan|es Act, :,¸6, |nc|uo|ng t|ose ot
Sc|eou|e Xlll or any amenoments t|ereto maoe |ereatter |n t||s regaro w|t||n
t|e over a|| ||m|ts approveo by t|e Company |n Cenera| |eet|ng.
ln terms ot t|e Sc|eou|e Xlll to t|e Compan|es Act, :,¸6, t|e Company can rev|se
t|e ||m|t ot payment ot manager|a| remunerat|on |n a nnanc|a| year w|en |t |as no
pront or |as |naoequacy ot pront. ¯|e Company can pay remunerat|on ot upto
C , |acs per mont| by way ot sa|ary as we|| as perqu|s|tes prov|oeo, X]cTaP[XP t|e
members' approva| by way ot spec|a| reso|ut|on |as been obta|neo tor payment
ot manager|a| remunerat|on tor a per|oo not exceeo|ng t|ree years. Accoro|ng|y,
t|e reso|ut|on at ltem Hos. 6 |s put betore t|e members as Spec|a| leso|ut|on.
As requ|reo unoer Sc|eou|e Xlll to t|e Compan|es Act :,¸6, t|e re|evant oeta||s tor
ltem Ho. 6 to be sent a|ongw|t| t|e not|ce ca|||ng t|e genera| meet|ng are as unoer.
l. eeneral lnformation
:. Hature ot lnoustry . ¯ext||es lnoustry
.. Late or Lxpecteo Late ot Commencement ot Commerc|a|
Þroouct|on .
¯|e Company was |ncorporateo on :st !une, :,¸: ano commenceo
commerc|a| proouct|on t|ereatter.
¸. ln case ot Hew Compan|es, Lxpecteo Late ot Commencement
ot Act|v|t|es as per Þroject Approveo by l|nanc|a| lnst|tut|ons
appear|ng |n t|e Þrospectus . Hot app||cab|e
,. l|nanc|a| Þertormance baseo on g|ven lno|cators (As per auo|teo
l|nanc|a| Statements tor t|e year enoeo ¸:.o¸..o::)
Þart|cu|ars C |n Crores
Sa|es 8 Ot|er lncome .,.¸.,¸
L3lL¯A ,,¸.¸¸
Het Þront :¸,.8o
¸. Lxport Þertormance ano Het lore|gn Lxc|ange Co||aborat|ons (As
per auo|teo l|nanc|a| Statements tor t|e year enoeo ¸:.o¸..o::)
Larn|ngs |n lore|gn Lxc|ange by Lxports . C::¸,.¸8 Crores.
6. lore|gn lnvestments or Co||aborators, |t any. Hot App||cab|e.
ll. lnformation about the appointees
v. Background details :
|r. !ayes| k. S|a|, a commerce graouate ano C|artereo
Accountant |as been |n emp|oyment w|t| t|e Company s|nce :st
!u|y, :,,¸ ano pr|or to ||s emp|oyment w|t| t|e Company |e was
assoc|ateo w|t| group compan|es tor seven years.
z. Þast Þemuneration:
Þart|cu|ars l/. o,-:o l/. :o-::
Sa|ary ¸o,oo,ooo ¸,,¸o,ooo
Þerqu|s|tes/a||owances :,¸,,8o,6¸, ,,,:8,,,¸
Comm|ss|on/3onus 86,oo,ooo
¯ota| :,6,,8o,6¸, :,,,,68,,,¸
Hote. lemunerat|on |nc|uoes contr|but|on to Þrov|oent luno ano
Superannuat|on.
¿. 1ob Þroñle and their Suitability :
|r. !ayes| k. S|a| |as been be appo|nteo as t|e L|rector ano C||et
l|nanc|a| Omcer ot t|e Company ano |e w||| carry out suc| out|es
as may be entrusteo to ||m by t|e C|a|rman ano |anag|ng L|rector
but subject to superv|s|on ano contro| ot 3oaro ot L|rectors, trom
t|me to t|me.
¯a||ng |nto cons|oerat|on ||s qua||ncat|ons ano expert|se |n t|e
re|evant ne|os, |e |s su|teo tor t|e respons|b|||t|es ass|gneo to ||m
by t|e 3oaro ot L|rectors.
q. Þemuneration Þroposed: S|nce t|e same |ave been a|reaoy
exp|a|neo |n oeta|| |ere|nabove, t|e same are not repeateo.
y. Comparat|ve lemunerat|on Þron|e w|t| respect to lnoustry, S|ze ot
t|e Company, Þron|e ot t|e Þos|t|on ano Þerson (|n case ot expatr|ates
t|e re|evant oeta||s wou|o be w.r.t. t|e country ot ||s or|g|n).
Cons|oer|ng t|e s|ze ot t|e Company, t|e pron|es ot |r. !ayes|
k. S|a|, t|e respons|b|||t|es s|ou|oereo by ||m ano t|e |noustry
benc|mar|s, t|e remunerat|on proposeo to be pa|o to ||m |s
commensurate w|t| t|e remunerat|on pac|ages pa|o to s|m||ar
appo|ntees |n ot|er compan|es.
6. Þecun|ary le|at|ons||p L|rect|y or lno|rect|y w|t| t|e Company, or
le|at|ons||p w|t| t|e |anager|a| Þersonne|, |t any .
3es|oes t|e remunerat|on proposeo, |r. !ayes| k. S|a| ooes
not |ave any pecun|ary re|at|ons||p w|t| t|e Company ano |ts
manager|a| personne|.
¯|e 3oaro commenos t|e reso|ut|on at ltem Hos. 6 tor your approva|.
¯|e Lratts ot Agreement to be entereo |nto between t|e Company ano |r.
!ayes| k. S|a| tor remunerat|on |s ava||ab|e tor |nspect|on by t|e s|are|o|oers at
t|e leg|stereo Omce ot t|e Company our|ng bus|ness |ours on any wor||ng oay.
S|nce t|e reso|ut|on at ltem Ho. 6 re|ates to payment ot remunerat|on
to |r. !ayes| k. S|a|, |e |s oeemeo to be concerneo or |nteresteo |n t|e
sa|o reso|ut|on. Hone ot t|e ot|er L|rectors ot t|e Company |s, |n any way,
concerneo or |nteresteo |n t|e reso|ut|on.
¯|e above exp|anatory statement a|so sets out an abstract ot mater|a| terms ot
t|e contract w|t| v|o|et|me L|rector ano |ence t|e same may be treateo as
an abstract ot memoranoum ot |nterest |n accoroance w|t| Sect|on ¸o. ot t|e
Compan|es Act, :,¸6.
ltem No. y
¯|e Company |s present|y engageo ma|n|y |n t|e bus|ness ot text||es ano text||e
prooucts. ln t||s era ot econom|c ||bera||zat|on ano growt|, t|e Company |s
a|so |oo||ng at var|ous bus|ness opportun|t|es |n t|e area ot rea| estate ano
construct|on. ¯|ere |s a |uge potent|a| tor oeve|opment ot var|ous tacets ot
rea|ty bus|ness |n lno|a |||e oeve|opment ot commerc|a| rea| estate, |osp|ta||ty
rea| estate, reta|| rea| estate ano res|oent|a| rea| estate oue to econom|c
growt| ot t|e country at macro ano m|cro |eve|. ln v|ew ot vast oemano
supp|y m|smatc| tor qua||ty graoe commerc|a| space, |ncreaseo o|sposab|e
|ncomes, en|anceo ro|e ot t|e serv|ce sector ano poss|b|||ty ot rap|o growt|
ot organ|zeo reta|| ma|es very strong case tor ventur|ng |nto bus|ness ot rea|
estate oeve|opment tor t|e Company.
¸
/our Company |as certa|n unut|||zeo rea| estate assets w||c| |t can put to better
use ano oeve|opment ano can a|so exp|ore turt|er ano tap t|e opportun|t|es |y|ng
a|eao |n t|e boom|ng rea|ty mar|et. ¯|e goa| ot t|e Company w||c| |as unut|||zeo
rea| estate assets |s to oes|gn, execute ano mar|et new rea| estate prooucts.
lt |s proposeo to start new ||ne ot bus|ness |n t|e ne|o ot rea| estate. ln oroer to
enab|e t|e Company to enter |nto rea| estate bus|ness, an amenoment |n t|e
object c|ause |s proposeo to be maoe by |nsert|ng new Sub-C|ause (.) (s) atter t|e
ex|st|ng Sub-C|ause (.) (r) ot t|e |emoranoum ano Assoc|at|on ot t|e Company.
¯|e rea| estate ano construct|on bus|ness act|v|t|es as o|scusseo |ere|nabove
can be conven|ent|y ano aovantageous|y comb|neo w|t| t|e ex|st|ng bus|ness
ot t|e Company.
Sect|on :, ot t|e Compan|es Act, :,¸6 st|pu|ates t|at t|e object c|ause ot t|e
|emoranoum ano Assoc|at|on can be a|tereo by a spec|a| reso|ut|on passeo
by t|e s|are|o|oers ot t|e Company. ln v|ew ot t||s, |t |s proposeo to see| t|e
s|are|o|oers approva| by way ot pass|ng t|e spec|a| reso|ut|on as atoresa|o.
¯|e 3oaro recommenos t|e spec|a| reso|ut|on, as set out |n t|e not|ce, tor
approva| by t|e s|are|o|oers.
Hone ot t|e o|rectors ot t|e Company |s concerneo or |nteresteo |n t|e
atoresa|o spec|a| reso|ut|on.
ltem No. 8
¯|e Company |as |nserteo new Sub-C|ause (.) (s) atter t|e ex|st|ng Sub-C|ause
(.) (r) |n t|e object c|ause ot |emoranoum ot Assoc|at|on ot t|e Company. lt
|s proposeo to commence a new bus|ness ot rea| estate as |nserteo |n t|e new|y
|ntroouceo Sub-C|ause ot object c|ause.
Þursuant to Sect|on :,, (.A) ot t|e Compan|es Act, :,¸6, approva| ot t|e
s|are|o|oers |s necessary by way ot spec|a| reso|ut|on betore commencement
ot any ot t|e act|v|t|es as ment|oneo |n t|e proposeo new object c|ause ot t|e
|emoranoum ano Assoc|at|on ot t|e Company. Approva| ot t|e s|are|o|oers
|s soug|t tor commencement ano carry|ng out ot new bus|ness ano act|v|t|es as
oeta||eo |n Spec|a| leso|ut|on Ho. ,.
¯|e 3oaro recommenos t|e spec|a| reso|ut|on as set out |n t|e not|ce tor
approva| by t|e s|are|o|oers.
Hone ot t|e o|rectors ot t|e Company |s concerneo or |nteresteo |n t|e
atoresa|o spec|a| reso|ut|on.
ltem No.p
¯|e leso|ut|on Ho. , conta|neo |n t|e Hot|ce re|ates to a proposa| by t|e
Company to create, oner, |ssue ano a||ot equ|ty s|ares, CLls, ALls, lCLs,
HCLs, warrants ano/or ot|er secur|t|es convert|b|e |nto or ||n|eo to equ|ty
s|ares ano/or any ot|er |nstruments ano/or comb|nat|on ot |nstruments as
stateo |n t|e reso|ut|on as 'Securities'.
¯|e Company |as a comparat|ve|y ||g| gear|ng rat|o ano |t |s a|ways better to
ra|se equ|ty base ot t|e company to strengt|en t|e net wort| ano oebt/equ|ty
rat|o ot t|e company. ¯|e Company neeos to augment |ts cap|ta| |eep|ng |n
v|ew t|e current macro-econom|c env|ronment, to acce|erate turt|er growt|,
tuno var|ous expans|on p|ans, |ong-term wor||ng cap|ta| requ|rements. lence,
t|e Company p|ans to |ssue Lqu|ty S|ares or Secur|t|es equ|va|ent t|ereto tor
an amount not exceeo|ng C ¸oo crores |n va|ue ano t|eretore proposes |ssue
ot secur|t|es. ¯|e actua| compos|t|on ot var|ous |nstruments w||| be oec|oeo
by t|e 3oaro |n consu|tat|on w|t| t|e |erc|ant 3an|ers/lnvestment 3an|ers
ano as per t|e requ|rements ot t|e tunos trom t|me to t|me ano suc| oner
s|a|| be maoe to any person |nc|uo|ng oomest|c/tore|gn |nvestors, lore|gn
lnst|tut|ona| lnvestors, Qua||neo lnst|tut|ona| 3uyers, ¯rusts, |utua| lunos,
3an|s, lnsurance Compan|es, Þens|on lunos etc. w|et|er t|ey be |o|oers ot
t|e Lqu|ty S|ares ot t|e Company or not.
¯|e Spec|a| leso|ut|on a|so see|s to empower t|e 3oaro, w||c| term s|a||
|nc|uoe any comm|ttee t|ereot, to unoerta|e a qua||neo |nst|tut|ona| p|acement
w|t| qua||neo |nst|tut|ona| buyers as oenneo by SL3l lCLl legu|at|ons. ¯|e
3oaro ot L|rectors may |n |ts o|scret|on aoopt t||s mec|an|sm as prescr|beo
unoer C|apter vlll ot t|e SL3l lCLl legu|at|ons tor ra|s|ng t|e tunos tor t|e
above purposes.
¯|e pr|c|ng ot t|e |ssue wou|o be subject to SL3l lCLl legu|at|ons as t|e same
cannot be oec|oeo except at a |ater stage ano t|eretore |t |s not poss|b|e to
state t|e pr|ce or t|e exact number ot Secur|t|es or s|ares to be |ssueo. lor
t|e reasons atoresa|o, an enab||ng reso|ut|on |s proposeo to be passeo to g|ve
aoequate nex|b|||ty ano o|scret|on to t|e 3oaro to nna||se t|e terms ot t|e
|ssue. ¯|e Secur|t|es |ssueo pursuant to t|e oner|ng(s) wou|o be ||steo on t|e
lno|an Stoc| Lxc|anges ano/or lnternat|ona||y lecogn|seo Stoc| Lxc|ange as
may be requ|reo.
Sect|on 8:(:A) ot t|e Compan|es Act, :,¸6 ano t|e re|evant c|auses ot t|e L|st|ng
Agreement w|t| t|e Stoc| Lxc|anges w|ere t|e Lqu|ty S|ares ot t|e Company
are ||steo prov|oes, X]cTaP[XP, w|en |t |s proposeo to |ncrease t|e |ssueo cap|ta|
ot t|e Company by a||otment ot t|e turt|er s|ares, suc| turt|er s|ares s|a||
be onereo to t|e ex|st|ng s|are|o|oers ot t|e Company |n a manner |a|o oown
|n Sect|on 8: un|ess t|e s|are|o|oers |n genera| meet|ng oec|oe ot|erw|se.
S|nce t|e Spec|a| leso|ut|on proposeo |n t|e Hot|ce re|ates to |ssue ot s|ares
to persons ot|er t|an ex|st|ng s|are|o|oers ot t|e Company, consent ot t|e
s|are|o|oers ot t|e Company |s be|ng soug|t |n terms ot Sect|on 8:(:A) ano
ot|er app||cab|e prov|s|ons ot t|e Compan|es Act, :,¸6.
Accoro|ng|y, t|e consent ot t|e s|are|o|oers ot t|e Company |s be|ng soug|t,
pursuant to t|e prov|s|ons ot Sect|on 8: (:A) ano ot|er app||cab|e prov|s|ons
ot t|e Compan|es Act, :,¸6 (°Actº), SL3l (lssue ot Cap|ta| ano L|sc|osure
lequ|rements) legu|at|ons, .oo, {"SLBl lCoÞ Þegulations"} ano |n terms
ot t|e prov|s|ons ot t|e L|st|ng Agreements, to |ssue ano a||ot Secur|t|es as
stateo |n t|e Spec|a| leso|ut|on.
¯|e Company |s propos|ng to |ssue Secur|t|es to t|e Qua||neo lnst|tut|ona| 3uyers
to augment |ts cap|ta| ano to acce|erate turt|er growt|, tuno var|ous expans|on
p|ans, meet|ng |ong-term wor||ng cap|ta| requ|rements to nnance |nvestment
opportun|t|es tor t||s purpose see|s your approva| to t|e reso|ut|ons proposeo.
As per C|apter vlll ot t|e sa|o SL3l lCLl legu|at|ons, |ssue ot Secur|t|es, on QlÞ
bas|s, can be maoe at a pr|ce not |ess t|an t|e average ot t|e wee||y ||g| ano |ow
ot t|e c|os|ng pr|ces ot t|e Secur|t|es quoteo on a stoc| exc|ange our|ng t|e two
wee|s preceo|ng t|e le|evant Late. ¯|e "Þelevant oate" means t|e oate ot t|e
meet|ng |n w||c| t|e 3oaro or t|e Comm|ttee ot L|rectors ou|y aut|or|seo by t|e
3oaro, oec|oes to open t|e proposeo |ssue.
¯|e exact pr|ce, proport|on, t|m|ng ano terms ot t|e |ssue ot Secur|t|es unoer t|e
QlÞ w||| be oec|oeo by t|e 3oaro baseo on t|e ana|ys|s ot spec|nc requ|rements
|n consu|tat|on w|t| t|e merc|ant ban|ers to t|e QlÞ |n accoroance w|t| t|e
SL3l lCLl legu|at|ons ano ot|er app||cab|e gu|oe||nes |ssueo by any statutory
aut|or|ty (|es). ¯|e a||otment ot Secur|t|es w||| be maoe w|t||n a per|oo ot one
year trom t|e oate ot pass|ng ot t|e atoresa|o Spec|a| leso|ut|on exc|uo|ng t|e
t|me ta|en |n obta|n|ng t|e necessary approva|s, |t any, or w|t||n suc| turt|er
per|oo as may be prescr|beo or a||oweo by t|e SL3l, Stoc| Lxc|ange(s) or ot|er
concerneo aut|or|t|es.
Hone ot t|e L|rectors ot t|e Company |s |nteresteo or concerneo |n t|e sa|o
reso|ut|on.
Þeglstered Ohce: 8y Order of the 8oard
Naroda Þoad,
Ahmedabad-¸8o oz¸ SAN1AY S. LALBHAl
Chalrman 8 Vanaglng Olrector
Oate : zoth Vay, zo¡¡
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
õ
Olrectors` Þeµort
¯o t|e |embers,
/our L|rectors are p|easeo to present t|e Annua| leport a|ong w|t| t|e
Auo|teo l|nanc|a| Statements tor t|e per|oo trom :st Apr||, .o:o to ¸:st
|arc|, .o::.
v. llNANClAL ÞLSuL1S
l|g|||g|ts ot l|nanc|a| lesu|ts tor t|e year are as unoer.
C |n Crores
zovo-vv .oo,-:o
¯urnover 8 Operat|ng lncome z6pv.zz .¸:6.8,
Þront betore Leprec|at|on, lnterest, Lxcept|ona|
ltems 8 ¯axat|on
qqy.yy ¸.:..,
Less . lnterest ano l|nance costs vpq.yp :¸¸.,,
Cross Þront atter lnterest 8 l|nance costs
but betore Leprec|at|on, Lxcept|ona| ltems 8
¯axat|on
zyo.p6 :6¸.8o
Less . Leprecat|on/ lmpa|rment vv6.v6 ::¸.8o
Þront betore ¯ax v¿q.8o ¸..oo
Less . Current ¯ax z6.8q 8.,,
Aoo. |A¯ Creo|t Lnt|t|ement {z6.8q} (8.,,)
Þront tor t|e year v¿q.8o ¸..oo
3a|ance ot Þront broug|t torwaro ¿vq.qz .8..¸,
Less . Aojustment oue to Lemerger o.oo o.,¸
Less . ¯ranster to Cap|ta| leoempt|on leserve o.oo :,.8o
Aoo. ¯ranster trom Lebenture leoempt|on
leserve
o.po :..o
3a|ance Ava||ab|e tor Appropr|at|on qyo.vz ¸:¸.¸:
/our L|rectors appropr|ate t|e same as unoer .
lnter|m L|v|oeno on Þreterence S|ares pa|o o.oo o.,6
¯ax on lnter|m L|v|oeno o.oo o.:¸
3a|ance carr|eo torwaro to next year qyo.vz ¸:,.,.
¯ota| qyo.vz ¸:,.,.
z. OÞLÞA1lONS :
/our L|rectors are p|easeo to report t|at our|ng t|e year .o:o-
::, t|e Company |as ac||eveo best nnanc|a| pertormance |n t|e
recent past. v|||e revenue |as grown by :6/, L3lL¯A |as grown
by ¸¸/ ano Het Þront |as grown by :¸,/ at C :¸¸ crores as aga|nst
Het Þront ot C ¸. crores |n t|e prev|ous nnanc|a| year. ¯|e strong
pertormance ot Len|m ano S||rt|ng labr|cs w||c| ac||eveo :,/
growt| |n revenue |as been |ey or|vers ot t|e growt|. Lesp|te s|arp
|ncrease |n raw mater|a| cost, t|e Company |as been ab|e to expano
L3lL¯A marg|n w||c| oemonstrates t|e pr|c|ng power enjoyeo
by t|e Company |n t|e oomest|c as we|| as export mar|ets. lurt|er
s|gn|ncant operat|ona| emc|ency ga|ns |ave a|so contr|buteo to
||g|er prontab|||ty marg|ns.
A oeta||eo ana|ys|s ot t|e nnanc|a| resu|ts |s g|ven |n t|e |anagement
L|scuss|ons ano Ana|ys|s report w||c| torms part ot t||s report.
¿. olvloLNo
keep|ng |n m|no t|e neeo to conserve resources, your L|rectors oo
not recommeno any o|v|oeno on Lqu|ty S|ares tor t|e year.
q. llNANCL
Lur|ng t|e year, t|e Company |as repa|o t|e |nsta||ments ot ¯erm
Loans amount|ng to C 86 crores ta|||ng oue our|ng t|e current year.
¯|e Company |as a|so maoe tres| borrow|ngs ot C ,. Crores tor
tuno|ng cap|ta| expeno|ture ano ot|er requ|rements. Long ¯erm
Lebt |nc|uo|ng |ease ot t|e Company stanos to C ,88 crores as on
¸:st |arc|, .o::.
y. LMOLOYLL S1OCk OÞ1lON SCHLML {LSOS}
¯|e Company |as |nst|tuteo t|e Lmp|oyees Stoc| Opt|on Sc|eme-
(LSOS) to grant equ|ty baseo |ncent|ves to certa|n e||g|b|e emp|oyees
ano o|rectors ot t|e Company ano |ts subs|o|ary compan|es.
.,.¸o |acs opt|ons were granteo to certa|n e||g|b|e emp|oyees ano
o|rectors ot t|e Company ano |ts subs|o|ary compan|es by t|e
lemunerat|on Comm|ttee at an exerc|se pr|ce ot C :,.6¸ eac|,
represent|ng one s|are tor eac| opt|on upon exerc|se. ¯|e oeta||s as
per t|e requ|rements ot SL3l Cu|oe||nes are annexeo ano torm part
ot t||s report.
6. SuBSlolAÞlLS
A oeta||eo o|scuss|on on subs|o|ary compan|es ano t|e|r pertormance
our|ng t|e year |s conta|neo |n t|e |anagement L|scuss|on ano
Ana|ys|s leport w||c| torms part ot t||s leport.
Þursuant to Account|ng Stanoaro AS-.: |ssueo by t|e lnst|tute
ot C|artereo Accountants ot lno|a, t|e Company |as prepareo
Conso||oateo l|nanc|a| Statements ot t|e Company ano |ts
subs|o|ar|es are |nc|uoeo |n t|e Annua| leport.
ln v|ew ot t|e c|osure ot bus|ness, t|e accounts ot Arv|no Overseas
(|aur|t|us) L|m|teo ano Arv|no Sp|nn|ng L|m|teo |ave not been
prepareo on t|e go|ng on concern bas|s. Arv|no ¯ext||e ||||s L|m|teo
|as not commenceo |ts bus|ness. lence, t|e accounts ot t|ese
subs|o|ary compan|es |ave not been conso||oateo w|t| accounts ot
t|e Company as per t|e prov|s|ons ot t|e Account|ng Stanoaro .:
re|at|ng to Conso||oat|on ot Accounts.
y. olÞLC1OÞS
/our L|rectors express t|e|r gr|et at t|e sao oem|se ot |r. ¯arun
S|et| on :8t| !u|y, .o:o w|o |ao serveo t|e Company as a L|rector
tor ¸ years ano p|ace on recoro t|e|r ||g|est sense ot apprec|at|on
tor t|e va|uab|e serv|ces renoereo by ||m to t|e Company.
Lr. 3a|u| L|o|a||a was appo|nteo as an Aoo|t|ona| L|rector ot t|e
Company on .:st !u|y, .o:o.
|s. lenu|a lamnat| was appo|nteo as an Aoo|t|ona| L|rector ot
t|e Company on .8t| October, .o:o. S|e |o|os omce on|y upto t|e
oate ot t||s Annua| Cenera| |eet|ng pursuant to t|e prov|s|ons ot
Sect|on .6o ot t|e Compan|es Act, :,¸6. ¯|e Company |as rece|veo
a not|ce trom a member ot t|e Company |nteno|ng to propose |er as
a L|rector on t|e 3oaro.
At t|e ensu|ng Annua| Cenera| |eet|ng, |r. Sanjay S. La|b|a| ano
|r. Suo||r |e|ta, L|rectors ot t|e Company, ret|re by rotat|on, but
be|ng e||g|b|e, oner t|emse|ves tor re-appo|ntment.
8. COÞÞOÞA1L eOvLÞNANCL
/our Company |s comm|tteo to t|e tenets ot gooo Corporate
Covernance ano |as ta|en aoequate steps to ensure t|at t|e
requ|rements ot Corporate Covernance as |a|o oown |n C|ause ,, ot
t|e L|st|ng Agreement are comp||eo w|t|.
;
A separate report on Corporate Covernance ano a |anagement
L|scuss|on ano Ana|ys|s leport are be|ng pub||s|eo as a part ot t|e
Annua| leport ot t|e Company.
¯|e Auo|tors ot t|e Company |ave cert|neo t|at cono|t|ons ot
Corporate Covernance as st|pu|ateo unoer C|ause ,, ot t|e L|st|ng
Agreement are comp||eo by t|e Company ano t|e|r Cert|ncate |s
annexeo to t|e leport on Corporate Covernance.
p. ÞLSÞONSlBlLl1Y S1A1LMLN1
¯|e L|rectors connrm t|at.
:. |n t|e preparat|on ot t|e annua| accounts, t|e app||cab|e
account|ng stanoaros |ave been to||oweo. ¯|ere are no
mater|a| oepartures trom t|e app||cab|e account|ng stanoaros,
.. suc| account|ng po||c|es |ave been se|ecteo ano app||eo
cons|stent|y ano suc| juogements ano est|mates |ave been
maoe as are reasonab|e ano pruoent so as to g|ve a true ano
ta|r v|ew ot t|e state ot ana|rs ot t|e Company at t|e eno ot t|e
nnanc|a| year enoeo on ¸:st |arc|, .o:: ano ot t|e pront ot t|e
Company tor t|at per|oo,
¸. proper ano sumc|ent care |as been ta|en tor t|e ma|ntenance
ot aoequate account|ng recoros |n accoroance w|t| t|e
prov|s|ons ot t|e Compan|es Act, :,¸6 tor sateguaro|ng t|e
assets ot t|e Company ano tor prevent|ng ano oetect|ng trauo
ano ot|er |rregu|ar|t|es, ano
,. t|e statements ot accounts tor t|e year enoeo on ¸:st |arc|,
.o:: |ave been prepareo on a go|ng concern bas|s.
vo. llXLo oLÞOSl1S
¯|e Company |as not accepteo or reneweo any oepos|ts our|ng
t|e year. ¯|ere are no outstano|ng ano overoue oepos|ts as at ¸:st
|arc|, .o::.
vv. lNlOÞMA1lON ÞLeAÞolNe CONSLÞvA1lON Ol LNLÞeY
L1C. ANo LMÞLOYLLS
lntormat|on requ|reo unoer Sect|on .:,(:)(e) ot t|e Compan|es Act,
:,¸6 reao w|t| lu|e . ot t|e Compan|es (L|sc|osure ot Þart|cu|ars
|n t|e leport ot 3oaro ot L|rectors) lu|es, :,88 ano unoer Sect|on
.:,(.A) ot t|e Compan|es Act, :,¸6 reao w|t| Compan|es (Þart|cu|ars
ot Lmp|oyees) lu|es, :,,¸, as amenoeo trom t|me to t|me, torms part
ot t||s report. lowever, as per t|e prov|s|ons ot Sect|on .:, (:)(b)
(|v), t|e report ano accounts are be|ng sent to a|| s|are|o|oers ot
t|e Company exc|uo|ng t|e |ntormat|on re|at|ng to conservat|on
ot energy, tec|no|ogy absorpt|on ano tore|gn exc|ange earn|ng
ano outgo, ano t|e statement ot part|cu|ars ot emp|oyees. Any
s|are|o|oer |nteresteo |n obta|n|ng suc| part|cu|ars may |nspect
t|e same at t|e leg|stereo Omce ot t|e Company or wr|te to t|e
Secretary tor a copy.
vz. Auol1OÞS
¯|e Auo|tors, Sorab S. Lng|neer 8 Co., ret|re ano oner t|emse|ves
tor re-appo|ntment. lt |s proposeo t|at Sorab S. Lng|neer 8 Co., be
re-appo|nteo as auo|tors ot t|e Company. /ou are requesteo to
appo|nt t|e auo|tors ano nx t|e|r remunerat|on.
v¿. ACkNOwLLoeLMLN1
/our L|rectors wou|o |||e to apprec|ate t|e enorts ot t|e Company's
emp|oyees tor t|e|r cont|nueo co-operat|on ano unst|nteo support
extenoeo to t|e Company. ¯|e support ot a|| |enoers |nc|uo|ng
l|nanc|a| lnst|tut|ons, Commerc|a| 3an|s, Overseas 3an|s ano
venoors ano buyers |as a|so been |nva|uab|e to t|e Company's
pertormance ano your L|rectors ta|e t||s opportun|ty to apprec|ate
|t oeep|y.
8y Order of the 8oard
Þlace : Ahmedabad SAN1AY S. LALBHAl
Oate : zoth Vay, zo¡¡ Chalrman and Vanaglng Olrector
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
8
Annexure to the Olrectors` Þeµort
L|sc|osures unoer C|ause :..: ot t|e Secur|t|es ano Lxc|ange 3oaro ot lno|a (Lmp|oyee Stoc| Opt|on Sc|eme ano Lmp|oyee Stoc| Þurc|ase Sc|eme)
Cu|oe||nes, :,,, .
: Humber ot Opt|ons Cranteo H||
. Þr|c|ng lormu|a
¸ Humber ot Opt|ons vesteo .¸,,.,¸oo
, Humber ot Opt|ons Lxerc|seo .¸,,.,¸oo
¸ ¯ota| Humber ot S|ares ar|s|ng out ot Lxerc|se ot Opt|ons .¸,,.,¸oo
6 Humber ot Opt|ons Lapseo HlL
, var|at|on |n t|e terms ot t|e Opt|ons Ho var|at|ons maoe.
8 |oney lea||zeo by Lxerc|se ot Opt|ons C ¸,,,,¸,,:.¸/-
, ¯ota| number ot Opt|ons |n lorce .,¸.,¸oo opt|ons
:o Lmp|oyee w|se Leta||s ot Opt|ons Cranteo to -
a Sen|or |anagement Þersonne| H||
b Any ot|er emp|oyee w|o rece|ves a grant |n any one year ot opt|on amount|ng to
¸/ or more ot opt|ons granteo our|ng t|e year
H||
c loent|neo emp|oyees w|o were granteo opt|ons, our|ng any one year, equa|
to or exceeo|ng :/ ot t|e |ssueo cap|ta| (exc|uo|ng outstano|ng warrants ano
convers|ons) ot t|e company at t|e t|me ot grant
H||
:: L||uteo Larn|ngs Þer S|are (LÞS) pursuant to |ssue ot s|ares on exerc|se ot opt|on
ca|cu|ateo |n accoroance w|t| Account|ng Stanoaro (AS) .o Larn|ngs Þer S|are
C ¸.6¸
:. v|ere t|e company |as ca|cu|ateo t|e emp|oyee compensat|on cost us|ng
t|e |ntr|ns|c va|ue ot t|e stoc| opt|ons, t|e o|nerence between t|e emp|oyee
compensat|on cost so computeo ano t|e emp|oyee compensat|on cost t|at s|a||
|ave been recogn|zeo |t |t |ao useo t|e ta|r va|ue ot t|e opt|ons, s|a|| be o|sc|oseo.
¯|e |mpact ot t||s o|nerence on pronts ano on LÞS ot t|e company s|a|| a|so be
o|sc|oseo.
Company accounts tor opt|ons unoer t|e |ntr|ns|c va|ue
met|oo. S|nce opt|ons are granteo at mar|et pr|ce, t|e
|ntr|ns|c va|ue |s H||.
lowever, |t ta|r va|ue ot t|e opt|ons (computeo us|ng t|e 3|ac|
Sc|o|es Opt|on Þr|c|ng |ooe|) was to be useo tor ca|cu|at|ng
t|e account|ng va|ue ot t|e opt|on, t|e compensat|on cost
wou|o |ave been C,¸.oo |acs ano t|e pronts wou|o |ave been
|esser by C ,¸.oo |acs
3as|c ano o||uteo LÞS wou|o |ave reouceo to C ¸.6o, ano
C¸.6o: respect|ve|y.
:¸a ve|g|teo Average Lxerc|se Þr|ces tor opt|ons w|ose exerc|se pr|ce
|. equa|s mar|et pr|ce
||. exceeos mar|et pr|ce
|||. |s |ess t|an mar|et pr|ce
C:,.6¸
H||
H||
:¸b ve|g|teo la|r va|ues tor opt|ons w|ose exerc|se pr|ce
|. equa|s mar|et pr|ce
||. exceeos mar|et pr|ce
|||. |s |ess t|an mar|et pr|ce
C,..6
H||
H||
:, A oescr|pt|on ot t|e met|oo ano s|gn|ncant assumpt|ons useo our|ng t|e year to
est|mate t|e ta|r va|ues ot opt|ons, |nc|uo|ng t|e to||ow|ng
we|g|teo-average |ntormat|on.
|. r|s| tree rate
||. expecteo ||te
|||. expecteo vo|at|||ty
|v. expecteo o|v|oenos ano
v. t|e pr|ce ot t|e unoer|y|ng s|are |n t|e mar|et at t|e t|me ot opt|on grant.
3|ac| Sc|o|es Opt|on Þr|c|ng |ooe|. ¯|e assumpt|ons are as
unoer
,.6:/
,.o: years
¸,.¸¸/
o..8/
C:,.6¸
p
Corµorate Governance Þeµort
Company's Þhilosophy on Code of eovernance
¯|e Company's p|||osop|y on Corporate Covernance |s to atta|n t|e ||g|est |eve|s ot transparency, accountab|||ty ano |ntegr|ty. ¯||s object|ve extenos,
not mere|y to meet w|t| statutory requ|rements but a|so to go beyono t|em by putt|ng |nto p|ace proceoures ano systems w||c| are |n accoroance w|t|
best pract|ces tor governance. Corporate Covernance at Arv|no means be|ng respons|ve to asp|rat|ons ot a|| t|e sta|e|o|oers customers, supp||ers,
|enoers, emp|oyees, t|e s|are|o|oers ano expectat|ons ot t|e soc|ety. ¯|e 3oaro ot L|rectors supports t|e broao pr|nc|p|es ot Corporate Covernance
ano |ays strong emp|as|s on |ts trustees||p ro|e to a||gn ano o|rect t|e act|ons ot t|e organ|zat|on to ac||eve |ts avoweo object|ves ot transparency,
accountab|||ty ano |ntegr|ty. C|ven be|ow |s t|e report on Corporate Covernance at Arv|no.
Board of oirectors
Composition of the Board
¯|e 3oaro |as 8 L|rectors, compr|s|ng ot . Lxecut|ve L|rectors v|z. : |anag|ng L|rector ano : L|rector ano C||et l|nanc|a| Omcer ano 6 Hon- Lxecut|ve
L|rectors. ¯|e Hon-Lxecut|ve L|rectors w|o are a|so lnoepenoent L|rectors are |eao|ng protess|ona|s trom var|eo ne|os w|o br|ng |n |noepenoent
juogment to t|e 3oaro's o|scuss|ons ano oe||berat|ons.
¯|e to||ow|ng |s t|e Compos|t|on ot t|e 3oaro as at ¸:st |arc|, .o::.
Sr.
No.
Name of oirector Lxecutive[Non-executive[lndependent No. of other
oirectorships in Þublic
Limited Companies
No. of other Board[
Committees of which
Member [ Chairman
:
.
¸
,
¸
6
,
8
,
|r. Sanjay S. La|b|a|
|r. !ayes| k. S|a|
|r. Suo||r |e|ta
|r. ¯arun S|et|*
Lr. 3a|u| L|o|a||a**
|r. l. v. k|anna
|r. C. |. /aowao|ar
|r. |unes| k|anna
|s. lenu|a lamnat|***
Lxecut|ve-C|a|rman 8 |anag|ng L|rector
Lxecut|ve-L|rector ano C||et l|nanc|a| Omcer
Hon-execut|ve-lnoepenoent L|rector
Hon-execut|ve-lnoepenoent L|rector
Hon-execut|ve-lnoepenoent L|rector
Hon-execut|ve-lnoepenoent 8 Hom|nee L|rector ot LXl| 3an| ot lno|a
Hon-execut|ve-lnoepenoent 8 Hom|nee L|rector ot lL3l 3an| L|m|teo
Hon-execut|ve-lnoepenoent L|rector
Hon-execut|ve-lnoepenoent L|rector
¸
::
,

.
.
:
¸
-
¸

¸asC|a|rmanano: as|ember
¸
, as a C|a|rman
-
: as |ember
: as |ember
-
* |r. ¯arun S|et|, a Hon-execut|ve-lnoepenoent L|rector |as ceaseo to be a L|rector oue to oeat| on :8t| !u|y, .o:o.
** Lr. 3a|u| L|o|a||a |as been appo|nteo as a Hon-execut|ve-lnoepenoent L|rector w|t| enect trom .:st !u|y, .o:o.
*** |s. lenu|a lamnat| |as been appo|nteo as a Hon-execut|ve-lnoepenoent L|rector w|t| enect trom .8t| October, .o:o.
Board Agenda
¯|e annua| ca|enoar ot 3oaro ano Comm|ttee |eet|ngs |s agreeo upon at t|e beg|nn|ng ot eac| year. |eet|ngs are governeo by a structureo Agenoa ano
a 3oaro member may br|ng up any matter tor cons|oerat|on ot t|e meet|ng |n consu|tat|on w|t| t|e C|a|rman. Agenoa papers are genera||y c|rcu|ateo to
t|e 3oaro members at |east ,-¸ wor||ng oays |n aovance. Leta||eo presentat|ons are maoe at t|e meet|ngs on a|| major |ssues to enab|e t|e 3oaro to ta|e
|ntormeo oec|s|ons. An |no|cat|ve ||st ot t|e |ntormat|on p|aceo betore t|e 3oaro our|ng t|e year |s as unoer.
» Annua| 3uogets ano 0poates t|ereon.
» Cap|ta| Lxpeno|ture Þroposa|s ano rev|ew ot t|e|r lmp|ementat|on.
» Quarter|y ano Annua| lesu|ts.
» Þroouct-w|se 3us|ness Þertormance.
» 3us|ness Þresentat|ons cover|ng Þroouct|on, |ar|et|ng, law |ater|a|s, Sa|es, etc.
» Hew Þrojects ano !o|nt ventures.
» Sa|es ot |ater|a| Hature ot lnvestments, Subs|o|ar|es, Assets, etc. w||c| are not |n t|e norma| course ot bus|ness.
» Þertormance ot Subs|o|ar|es.
» 3us|ness lestructur|ng.
» Lega| Þroceeo|ngs |nvo|v|ng t|e Company.
» ||nutes ot |eet|ngs ot Auo|t Comm|ttee, |anagement Comm|ttee, lemunerat|on Comm|ttee ano lnvestors' Cr|evance Comm|ttee.
» |ater|a||y lmportant S|ow Cause Hot|ces, Hon-Comp||ances, |t any, etc.
» Ot|er re|evant |ntormat|on perta|n|ng to t|e Company |nc|uo|ng |ntormat|on oeta||eo |n C|ause ,, ot t|e L|st|ng Agreement.
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
¡o
Meetings and Attendance
Lur|ng t|e year, t|e 3oaro ot L|rectors met , t|mes on .,t| |ay, .o:o, .,t| !u|y, .o:o, .8t| October, .o:o 8 .,t| !anuary, .o::. ¯|e gap between
two 3oaro |eet|ngs was w|t||n t|e max|mum t|me gap prescr|beo |n C|ause ,, ot t|e L|st|ng Agreement. ¯|e Attenoance ot L|rectors at t|ese 3oaro
|eet|ngs ano at t|e |ast Annua| Cenera| |eet|ng was as unoer.
Sr.
No.
Name of oirector Number of Board Meetings held during the
period when the oirector was on the Board
Number of
Board Meetings attended
whether present
at the previous AeM
: |r. Sanjay S. La|b|a| , , /es
. |r. !ayes| k. S|a| , , /es
¸ |r. Suo||r |e|ta , ¸ Ho
, |r. ¯arun S|et|* : - H.A.
¸ Lr. 3a|u| L|o|a||a** ¸ ¸ /es
6 |r. l. v. k|anna , ¸ Ho
, |r. C. |. /aowao|ar , . Ho
8 |r. |unes| k|anna , . /es
, |s. lenu|a lamnat|*** . - H.A
* |r. ¯arun S|et|, a Hon-execut|ve-lnoepenoent L|rector |as ceaseo to be a L|rector oue to oeat| on :8t| !u|y, .o:o.
**. Lr. 3a|u| L|o|a||a |as been appo|nteo as a Hon-execut|ve-lnoepenoent L|rector w|t| enect trom .:st !u|y, .o:o.
*** |s. lenu|a lamnat| |as been appo|nteo as a Hon-execut|ve-lnoepenoent L|rector w|t| enect trom .8t| October, .o:o.
Committees of the Board
¯|e 3oaro ot L|rectors |as const|tuteo , Comm|ttees ot t|e 3oaro v|z.
» Auo|t Comm|ttee
» lemunerat|on Comm|ttee
» lnvestors' Cr|evance Comm|ttee ano
» |anagement Comm|ttee
¯|e 3oaro oeterm|nes t|e terms ot reterence ot t|ese Comm|ttees trom t|me to t|me. |eet|ngs ot t|ese Comm|ttees are conveneo by t|e respect|ve
Comm|ttee C|a|rman/Company Secretary. At eac| 3oaro |eet|ng, m|nutes ot t|ese Comm|ttees are p|aceo betore t|e L|rectors tor t|e|r perusa| ano
not|ng.
v. Audit Committee
¯|e Auo|t Comm|ttee ot t|e Company compr|ses ot , members, a|| ot w|om are Hon-Lxecut|ve lnoepenoent L|rectors. |r. |unes| k|anna,
an lnoepenoent L|rector acts as C|a|rman ot t|e Comm|ttee. ¯|e Comm|ttee members are protess|ona|s |av|ng requ|s|te exper|ence |n t|e ne|os ot
l|nance ano Accounts, 3an||ng ano |anagement.
¯|e Auo|t Comm|ttee met , t|mes our|ng t|e year. ¯|e L|rector ano C||et l|nanc|a| Omcer ano representat|ves ot lnterna| ano Statutory Auo|tors
are |nv|tees to Auo|t Comm|ttee meet|ngs ano t|e Company Secretary acts as t|e Secretary ot t|e Auo|t Comm|ttee.
Þole
¯|e terms ot reterence ot t|e Auo|t Comm|ttee are as unoer.
:. Overs|g|t ot t|e company's nnanc|a| report|ng process ano t|e o|sc|osure ot |ts nnanc|a| |ntormat|on to ensure t|at t|e nnanc|a| statement |s
correct, sumc|ent ano creo|b|e.
.. lecommeno|ng to t|e 3oaro t|e appo|ntment, re-appo|ntment ano, |t requ|reo, t|e rep|acement or remova| ot t|e statutory auo|tor ano t|e
nxat|on ot auo|t tees.
¸. Approva| ot payment ot statutory auo|tors tor any ot|er serv|ces renoereo by t|e statutory auo|tors.
,. lev|ew|ng, w|t| t|e management, t|e annua| nnanc|a| statements betore subm|ss|on to t|e boaro tor approva|, w|t| part|cu|ar reterence to.
(a) |atters requ|reo to be |nc|uoeo |n t|e L|rector's lespons|b|||ty Statement to be |nc|uoeo |n t|e 3oaro's report |n terms ot c|ause (.AA) ot
Sect|on .:, ot t|e Compan|es Act, :,¸6.
(b) C|anges, |t any, |n account|ng po||c|es ano pract|ces ano reasons tor t|e same.
(c) |ajor account|ng entr|es |nvo|v|ng est|mates baseo on t|e exerc|se ot juogment by management.
(o) S|gn|ncant aojustments maoe |n t|e nnanc|a| statements ar|s|ng out ot auo|t nno|ngs.
¡¡
(e) Comp||ance w|t| ||st|ng ano ot|er |ega| requ|rements re|at|ng to nnanc|a| statements.
(t) L|sc|osure ot any re|ateo party transact|ons.
(g) Qua||ncat|ons |n t|e oratt auo|t report.
¸. lev|ew|ng, w|t| t|e management, t|e quarter|y nnanc|a| statements betore subm|ss|on to t|e boaro tor approva|.
6. lev|ew|ng, w|t| t|e management, pertormance ot statutory ano |nterna| auo|tors, aoequacy ot t|e |nterna| contro| systems.
,. lev|ew|ng t|e aoequacy ot |nterna| auo|t tunct|on, |t any, |nc|uo|ng t|e structure ot t|e |nterna| auo|t oepartment, stamng ano sen|or|ty ot t|e
omc|a| |eao|ng t|e oepartment, report|ng structure coverage ano trequency ot |nterna| auo|t.
8. L|scuss|on w|t| |nterna| auo|tors any s|gn|ncant nno|ngs ano to||ow up t|ereon.
,. lev|ew|ng t|e nno|ngs ot any |nterna| |nvest|gat|ons by t|e |nterna| auo|tors |nto matters w|ere t|ere |s suspecteo trauo or |rregu|ar|ty or a
ta||ure ot |nterna| contro| systems ot a mater|a| nature ano report|ng t|e matter to t|e boaro.
:o. L|scuss|on w|t| statutory auo|tors betore t|e auo|t commences, about t|e nature ano scope ot auo|t as we|| as post-auo|t o|scuss|on to
ascerta|n any area ot concern.
::. ¯o |oo| |nto t|e reasons tor substant|a| oetau|ts |n t|e payment to t|e oepos|tors, oebenture |o|oers, s|are|o|oers (|n case ot non payment
ot oec|areo o|v|oenos) ano creo|tors.
:.. ¯o rev|ew t|e tunct|on|ng ot t|e v||st|e 3|ower mec|an|sm, |n case t|e same |s ex|st|ng.
:¸. Carry|ng out any ot|er tunct|on as |s ment|oneo |n t|e terms ot reterence ot t|e Auo|t Comm|ttee.
Lxp|anat|on (|) . ¯|e terms °re|ateo party transact|onsº s|a|| |ave t|e same mean|ng as conta|neo |n t|e Account|ng Stanoaro :8, le|ateo Þarty
L|sc|osure, |ssueo by ¯|e lnst|tute ot C|artereo Accountants ot lno|a.
Lxp|anat|on (||) . lt t|e Company |as set up an auo|t comm|ttee pursuant to prov|s|on ot t|e Compan|es Act, t|e sa|o auo|t comm|ttee s|a|| |ave
suc| aoo|t|ona| tunct|ons / teatures as |s conta|neo |n t||s c|ause.
:,. |anagement o|scuss|on ano ana|ys|s ot nnanc|a| cono|t|on ano resu|ts ot operat|ons.
:¸. Statement ot s|gn|ncant re|ateo party transact|ons (as oenneo by t|e Auo|t Comm|ttee), subm|tteo by management.
:6. |anagement |etters / |etters ot |nterna| contro| wea|nesses |ssueo by t|e statutory auo|tors.
:,. lnterna| auo|t reports re|at|ng to |nterna| contro| wea|nesses, ano
:8. ¯|e appo|ntment, remova| ano terms ot remunerat|on ot t|e C||et lnterna| Auo|tor s|a|| be subject to rev|ew by t|e Auo|t Comm|ttee.
:,. ¯o |oo| |nto any ot|er matter w||c| may be reterreo to |t by t|e 3oaro.
.o. ln aoo|t|on to t|e above, t|e Comm|ttee s|a|| |ave suc| tunct|ons/ro|e/powers as may be spec|neo |n t|e Compan|es Act, L|st|ng Agreement
w|t| Stoc| Lxc|anges or any ot|er app||cab|e |aw.
Meetings and Attendance
Lur|ng t|e year, , Auo|t Comm|ttee |eet|ngs were |e|o on .,t| |ay, .o:o, .,t| !u|y, .o:o, .8t| October, .o:o 8 .,t| !anuary, .o::. ¯|e Attenoance ot
|embers at meet|ngs was as unoer.
Sr.
No.
Name Þosition No. of Meetings held during
relevant period
No. of Meetings attended
: |r. ¯arun S|et|* |ember :
. |r. |unes| k|anna C|a|rman , .
¸ |r. l. v. k|anna |ember , ¸
, |r. C. |. /aowao|ar |ember , .
¸ |r. Suo||r |e|ta** |ember : :
6 Lr. 3a|u| L|o|a||a*** |ember ¸ ¸
* |r. ¯arun S|et|, a Hon-execut|ve-lnoepenoent L|rector |as ceaseo to be a member ot t|e comm|ttee oue to oeat| on :8t| !u|y, .o:o.
** |r. Suo||r |e|ta was appo|nteo as a member ot t|e Comm|ttee on|y tor t|e meet|ng |e|o on .,t| |ay, .o:o.
*** Lr. 3a|u| L|o|a||a (Hon-execut|ve-lnoepenoent L|rector) |as been appo|nteo as a |ember ot t|e Comm|ttee w|t| enect trom .:st !u|y, .o:o.
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
¡z
z. Þemuneration Committee
¯|e 3oaro ot L|rectors ot t|e Company |as const|tuteo a lemunerat|on Comm|ttee cons|st|ng ot ¸ L|rectors, a|| ot w|om are Hon-Lxecut|ve
lnoepenoent L|rectors. ¯|e lemunerat|on Comm|ttee o|o not meet our|ng t|e year.
Þole
¯|e terms ot reterence ot t|e lemunerat|on Comm|ttee are as unoer.
:. ¯o trame company's po||c|es tor compensat|on ano benents tor Lxecut|ve L|rectors.
.. ¯o lev|ew ano recommeno compensat|on payab|e to t|e Lxecut|ve L|rectors.
¸. ¯o aom|n|ster ano superv|se Lmp|oyee Stoc| Opt|on Sc|emes (LSOS) |nc|uo|ng tram|ng ot po||c|es re|ateo to LSOS ano rev|ew|ng grant ot
LSOS.
,. ¯o lev|ew ll Þo||c|es ano |n|t|at|ves.
Meetings and Attendance
Ho meet|ng was |e|o our|ng t|e per|oo :st Apr||, .o:o to ¸:st |arc|, .o::.
Þemuneration of oirectors
lemunerat|on ot Lxecut|ve o|rectors |s recommenoeo by t|e lemunerat|on Comm|ttee ano approveo by t|e 3oaro ot L|rectors ano t|e S|are|o|oers
ot t|e Company.
¯|e lemunerat|on Comm|ttee ano t|e 3oaro ot L|rectors at t|e|r respect|ve meet|ngs |e|o on ¸ot| October, .oo, ano s|are|o|oers at t|e|r Annua|
Cenera| |eet|ng |e|o on .¸t| September, .o:o |ave approveo remunerat|on payab|e to |r. Sanjay S. La|b|a|, C|a|rman ano |anag|ng L|rector ot t|e
Company tor a per|oo ot t|ree years trom :st !anuary, .o:o to ¸:st Lecember, .o:.. ¯|e Company |as entereo |nto an agreement w|t| ||m |ay|ng oown
||s tenure, remunerat|on ano ot|er terms.
¯|e lemunerat|on Comm|ttee ano t|e 3oaro ot L|rectors at t|e|r respect|ve meet|ngs |e|o on .ot| |ay, .o:: |ave approveo remunerat|on payab|e
to |r. !ayes| k. S|a|, v|o|e-t|me L|rector w|t| oes|gnat|on as L|rector ano C||et l|nanc|a| Omcer ot t|e Company tor a per|oo ot t|ree years trom :st
October, .o:: to ¸ot| September, .o:, subject to approva| ot t|e s|are|o|oers at t|e ensu|ng Annua| Cenera| |eet|ng. ¯|e Company w||| enter |nto an
agreement w|t| ||m |ay|ng oown ||s tenure, remunerat|on ano ot|er terms.
¯|e remunerat|on ot Hon-Lxecut|ve L|rectors |s oeterm|neo by t|e 3oaro ano |s a|so approveo by t|e S|are|o|oers |n Cenera| |eet|ng. Hon-Lxecut|ve
L|rectors were pa|o S|tt|ng lees ot C¸,ooo/- tor every meet|ng ot 3oaro ot L|rectors or Comm|ttee attenoeo by t|em. Apart trom t||s, Hon-Lxecut|ve
L|rectors (ot|er t|an |anag|ng L|rector ano v|o|e ¯|me L|rector(s)) are ent|t|eo tor comm|ss|on not exceeo|ng :/ ot t|e net pronts ot t|e Company
per annum tor eac| year tor a per|oo ot ¸ years commenc|ng trom :st Apr||, .o:o.
v|t||n t|e above ||m|t, Lxecut|ve L|rectors ano Hon-Lxecut|ve L|rectors |ave been pa|o comm|ss|on tor t|e year as unoer.
Sr.
No.
Name of oirector Salary
C
Þerquisites 8
Allowances C
Sitting lees C Commission[
Bonus C
1otal C
: |r. Sanjay S. La|b|a| (C|a|rman 8 |L) ,¸ooooo.oo ,6.o:¸6..o HlL :.¸ooooo.oo .66.o:¸6..o
. |r. !ayes| k. S|a| ¸,¸oooo.oo ,,:8,,¸.oo HlL 86ooooo.oo :,,68,,¸.oo
¸ |r. Suo||r |e|ta HlL HlL ¸oooo.oo ¸ooooo.oo ¸¸oooo.oo
, |r. ¯arun S|et|* HlL HlL HlL HlL HlL
¸ Lr. 3a|u| L|o|a||a** HlL HlL ,oooo.oo ,:,¸¸¸.oo ,¸,¸¸¸.oo
6 |r. l. v. k|anna HlL HlL ¸oooo.oo 6ooooo.oo 6¸oooo.oo
, |r. C. |. /aowao|ar HlL HlL .oooo.oo 6ooooo.oo 6.oooo.oo
8 |r. |unes| k|anna HlL HlL .oooo.oo 6ooooo.oo 6.oooo.oo
, |s. lenu|a lamnat|*** HlL HlL HlL :6,86¸.oo :6,86¸.oo
* |r. ¯arun S|et|, a Hon-execut|ve-lnoepenoent L|rector |as ceaseo to be a L|rector oue to oeat| on :8t| !u|y, .o:o.
** Lr. 3a|u| L|o|a||a |as been appo|nteo as a Hon-execut|ve-lnoepenoent L|rector on .:st !u|y, .o:o.
*** |s. lenu|a lamnat| |as been appo|nteo as a Hon-execut|ve-lnoepenoent L|rector on .8t| October, .o:o.
¿. lnvestors' erievance Committee
¯|e lnvestors' Cr|evance Comm|ttee |as , |embers compr|s|ng ot . Hon-Lxecut|ve L|rectors ano . Lxecut|ve L|rectors.
Þole
¯|e terms ot reterence ot t|e lnvestors' Cr|evance Comm|ttee are as unoer.
¡¸
:. ¯o spec|nca||y |oo| |nto t|e leoressa| ot lnvestors' Cr|evances perta|n|ng to.
» ¯ranster ot S|ares ano Lebentures
» L|v|oenos, lnterests ano leoempt|on Þroceeos ot Lebentures
» Lemater|a||sat|on ot S|ares ano Lebentures
» lep|acement ot Lost, Sto|en, |ut||ateo S|are ano Lebenture Cert|ncates
» Hon-rece|pt ot l|g|ts, 3onus, Sp||t S|are Cert|ncates
.. ¯o |oo| |nto ot|er re|ateo |ssues towaros strengt|en|ng lnvestors' le|at|ons.
¸. ¯o cons|oer ano approve lssuance ot S|are/Lebenture Cert|ncates |nc|uo|ng Lup||cate S|are/Lebenture Cert|ncates.
,. ¯o |oo| |nto t|e reasons tor any oetau|ts |n t|e payment to t|e Lepos|tors, Lebenture lo|oers, S|are|o|oers (|n case ot Hon-Þayment ot
Lec|areo L|v|oenos) ano Creo|tors.
Meetings and Attendance
Lur|ng t|e year, ¸ lnvestors' Cr|evance Comm|ttee |eet|ngs were |e|o on .,t| !u|y, .o:o, .8t| October, .o:o 8 .,t| !anuary, .o::. ¯|e Attenoance ot
|embers at meet|ngs was unoer.
Sr.
No.
Name Þosition No. of Meetings held during
relevant period
No. of Meetings attended
:. |r. ¯arun S|et|* C|a|rman H|| H||
.. |r. Sanjay S. La|b|a| |ember ¸ ¸
¸. |r. !ayes| k. S|a| |ember ¸ ¸
,. |r. Suo||r |e|ta |ember ¸ .
¸ Lr. 3a|u| L|o|a||a** |ember . .
* |r. ¯arun S|et|, a Hon-execut|ve-lnoepenoent L|rector |as ceaseo to be a member ot t|e comm|ttee oue to oeat| on :8t| !u|y, .o:o.
** Lr. 3a|u| L|o|a||a (Hon-execut|ve-lnoepenoent L|rector) |as been appo|nteo as a |ember ot t|e comm|ttee w|t| enect trom .,t| !u|y, .o:o.
q. Management Committee
¯|e |anagement Comm|ttee cons|sts ot . L|rectors, a|| ot w|om are Lxecut|ve L|rectors. ¯|e |anagement Comm|ttee met .: t|mes our|ng t|e year.
Þole
¯|e |anagement Comm|ttee's pr|mary ro|e |s to |oo| atter t|e oay-to-oay bus|ness act|v|t|es ot t|e Company w|t||n 3oaro approveo o|rect|on/
tramewor|. ¯|e Comm|ttee meets trequent|y, as ano w|en neeo ar|ses to transact matters w|t||n t|e purv|ew ot |ts terms ot reterence.
Meetings and Attendance
Lur|ng t|e year, .: |anagement Comm|ttee |eet|ngs were |e|o on var|ous oates.
¯|e Attenoance ot |embers at meet|ngs was as unoer.
Sr.
No.
Name Þosition No. of Meetings held during
relevant period
No. of Meetings attended
:. |r. Sanjay S. La|b|a| |ember .: .:
.. |r. !ayes| k. S|a| |ember .: .:
MANAeLMLN1 olSCuSSlON ANo ANALYSlS
¯||s |s g|ven as a separate c|apter |n t|e Annua| leport.
Brief Þesume of oirectors seeking Þe-appointment[ Appointment
lnformation required under Clause qp lv {e} of the Listing Agreement with respect to the oirectors retiring by rotation and seeking
reappointment[oirectors sought to be appointed is as under:-
At t|e ensu|ng Annua| Cenera| |eet|ng, |r. Sanjay La|b|a| ano |r. Suo||r |e|ta, L|rectors ot t|e Company, ret|re by rotat|on ano be|ng e||g|b|e see|
re-appo|ntment.
3r|et pron|es ot t|e above L|rectors a|ongw|t| part|cu|ars ot t|e|r o|rectors||ps ano comm|ttee members||ps are as unoer.
Mr. Sanjay S. Lalbhai
|r. Sanjay S. La|b|a|, ¸, years, |s t|e C|a|rman ano |anag|ng L|rector ot t|e Company. le |s a Sc|ence Craouate w|t| a |aster's oegree |n 3us|ness
|anagement. le |as been assoc|ateo w|t| t|e Company tor a|most ¸. years ano |as been |anag|ng L|rector tor t|e |ast .6 years.
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
¡µ
le |s not re|ateo to any L|rector ot t|e Company.
Sr. No. Name of the Company in which holding oirectorship Name of the Committee Committee Membership
: Arv|no leta|| L|m|teo
. Arv|no L|testy|e 3ranos L|m|teo
¸ Amo| L|ca||te L|m|teo
, ¯orrent Þ|armaceut|ca|s L|m|teo
¸ Arv|no 3ranos 8 leta|| L|m|teo
6 Arv|no vor|ow|oe lHC. 0SA.
, Arv|no vor|ow|oe (|aur|t|us) lHC.
8 ¯|e Arv|no Overseas (|aur|t|us) L|m|teo
, Arv|no ¯ext||e ||||s L|m|teo, 3ang|aoes|
:o Arv|no Sp|nn|ng L|m|teo, |aur|t|us
:: Ananya lnvestments Þr|vate L|m|teo
:. An|mes| lo|o|ng Þr|vate L|m|teo
Mr. Sudhir Mehta
|r. Suo||r |e|ta |s a Sc|ence graouate trom Cujarat 0n|vers|ty. le |s |nstrumenta| |n t|e growt| ano progress ot ¯orrent Þ|armaceut|ca|s L|m|teo, t|e
l|ags||p Company ot t|e ¯orrent Croup. le systemat|ca||y expanoeo t|e power bus|ness ot ¯orrent Croup by acqu|r|ng s|gn|ncant sta|es |n ¯orrent
Þower ALC L|m|teo, ¯orrent Þower SLC L|m|teo ano ¯orrent Þower Cenerat|on L|m|teo now mergeo w|t| ¯orrent Þower L|m|teo ano one amongst t|e
tew successtu| |noepenoent power projects |n lno|a. le |as manageo strateg|c a|||ance w|t| |eao|ng lnternat|ona| g|ants trom 0.k., Cermany, lrance ano
0SA.
le |s t|e Lxecut|ve C|a|rman ot ¯orrent Þower L|m|teo, C|a|rman ot ¯orrent Þ|armaceut|ca|s L|m|teo, ¯orrent Þr|vate L|m|teo, ¯orrent Þ|pavav
Cenerat|on L|m|teo, ¯orrent Lnergy L|m|teo ano L|amono lntrastructure Þr|vate L|m|teo.
le |s not |o|o|ng any equ|ty s|ares ot t|e Company ano not re|ateo to any L|rector ot t|e Company.
Sr.
No.
Name of the Company in which holding oirectorship Name of the Committee Committee Membership
: ¯orrent Þower L|m|teo Hom|nat|on ano lemunerat|on Comm|ttee |ember
. ¯orrent Þ|armaceut|ca|s L|m|teo Secur|t|es ¯ranster 8 lnvestor Cr|evance Comm|ttee C|a|rman
¸ ¯orrent Þr|vate L|m|teo
, ¯orrent Lnergy L|m|teo Auo|t Comm|ttee C|a|rman
¸ ¯orrent Þ|pavav Cenerat|on L|m|teo Comm|ttee ot L|rectors C|a|rman
6 L|amono lntrastructure Þr|vate L|m|teo
Þrevention of lnsider 1rading
ln accoroance w|t| SL3l (Þro||b|t|on ot lns|oer ¯rao|ng) legu|at|ons, :,,., t|e 3oaro |as aoopteo t|e to||ow|ng cooes.
» Arvind Code for Þrevention of lnsider 1rading - 0noer t||s cooe, ob||gat|ons are cast upon L|rectors ano Omcers to preserve Þr|ce Sens|t|ve
lntormat|on, w||c| |s |||e|y to |ave a bear|ng on s|are pr|ce ot t|e Company. Þroceoures are prescr|beo to ensure t|at suc| |ntormat|on |s not
m|suseo tor any persona| aovantage. ¯|e leao (Lega| 8 Secretar|a|) |as been appo|nteo as t|e Comp||ance Omcer tor mon|tor|ng |mp|ementat|on
ot t|e Cooe across t|e Company.
a Arvind Code of Corporate oisclosures - ¯||s cooe |ays oown pr|nc|p|es ano proceoures w|t| t|e object|ve ot ensur|ng t|at t|e Þr|ce Sens|t|ve
lntormat|on re|ateo to t|e Company |s |ano|eo |n prescr|beo manner. Aoequate o|sc|osure ot suc| |ntormat|on |s soug|t to be maoe to t|e Þub||c
t|roug| Stoc| Lxc|anges, Þress, |eo|a ano t|e Arv|no web-s|te |n a t|me|y manner to enab|e t|e |nvestors to ta|e |ntormeo |nvestment oec|s|ons
w|t| regaro to t|e Company's Secur|t|es. ¯|e L|rector ano C||et l|nanc|a| Omcer |as been appo|nteo as t|e Company's Þub||c Spo|esperson
unoer t||s Cooe.
a Code of Conduct for oirectors and Senior Management Þersonnel
ln terms ot para Ho. l - L ot C|ause ,, ot t|e L|st|ng Agreement, t|e 3oaro ot L|rectors ot t|e Company |as |a|o oown a Cooe ot Conouct tor a|| 3oaro
|embers ano Sen|or |anagement Þersonne| ot t|e Company. ¯|e sa|o Cooe ot Conouct |as been posteo on t|e webs|te ot t|e Company. ¯|e
3oaro |embers ano Sen|or |anagement Þersonne| ot t|e Company |ave amrmeo comp||ance w|t| t|e Cooe. ¯|e C|a|rman 8 |anag|ng L|rector
ot t|e Company |as g|ven a oec|arat|on to t|e Company t|at a|| t|e 3oaro |embers ano Sen|or |anagement Þersonne| ot t|e Company |ave
amrmeo comp||ance w|t| t|e Cooe.
lnvestors may wr|te to t|e Company's Secretar|a| Lepartment tor a copy ot t|ese Cooes.
¡¸
oisclosures
(|) L|sc|osures on mater|a||y s|gn|ncant re|ateo party transact|ons |.e. transact|ons ot t|e Company ot mater|a| nature, w|t| |ts promoters, o|rectors or
t|e management, t|e|r subs|o|ar|es or re|at|ves etc. t|at may |ave potent|a| conn|cts w|t| t|e |nterest ot t|e Company at |arge .
¯ransact|ons w|t| re|ateo part|es are o|sc|oseo |n oeta|| |n Hote Ho. .. |n °Hotes torm|ng part ot t|e Accountsº annexeo to t|e nnanc|a| statements
tor t|e year. ¯|ere were no re|ateo party transact|ons |av|ng potent|a| conn|ct w|t| t|e |nterest ot t|e Company at |arge.
(||) Leta||s ot non-comp||ance by t|e Company, pena|t|es, ano str|ctures |mposeo on t|e Company by Stoc| Lxc|ange or SL3l or ot|er aut|or|ty on any
matter re|ateo to cap|ta| mar|ets, our|ng |ast t|ree years. H||.
(|||) Leta||s ot comp||ance w|t| manoatory requ|rements ano aoopt|on ot t|e non-manoatory requ|rements ot C|ause ,,.
¯|e Company |as comp||eo w|t| t|e manoatory requ|rements re|at|ng to strengt|en|ng t|e respons|b|||t|es ot Auo|t Comm|ttee, |mprov|ng t|e
qua||ty ot nnanc|a| o|sc|osures, |nc|uo|ng re|ateo party transact|ons, ca|||ng upon Company 3oaro to aoopt torma| cooe ot conouct, c|ear|y sett|ng
out t|e pos|t|on ot nom|nee o|rectors ano |mprov|ng o|sc|osure re|at|ng to t|e compensat|on pa|o to non-execut|ve o|rectors ano secur|ng t|e
approva| ot s|are|o|oers tor t||s compensat|on, sett|ng t|e proceoure tor |ega| comp||ance ano per|oo|ca| rev|ew by t|e 3oaro.
¯|e Company |as not aoopteo t|e non-manoatory requ|rements.
Shareholders' lnformation
v. Name and oesignation of Compliance Omcer:
lamn|| v. 3||man|
Company Secretary
Arv|no L|m|teo
|r. H|t|n !os||
Sen|or Lxecut|ve
S|arepro Serv|ces (lno|a) Þr|vate L|m|teo
leg|strars 8 ¯ranster Agents
z. oetails of Complaints [ queries received and redressed during vst April, zovo to ¿vst March, zovv:
Sr. No. Þarticulars of Complaints [ queries Þeceived Þedressed Þending as on
¿v.¿.zovv
: Hon-rece|pt ot S|are Cert|ncates 6 6 H||
. Hon-rece|pt ot L|v|oeno /lnterest varrants 8 8 H||
¸ Connrmat|on ot Lemat Creo|t H|| H|| H||
, Hon-rece|pt ot Lebentures leoempt|on Þayment H|| H|| H||
¸ Hon-rece|pt ot Letter ot Oner, A||otment Aov|ce, S|are Cert|ncates etc. tor l|g|ts
lssue 8 Ot|ers
HA HA HA
6 Ot|ers Comp|a|nts rece|veo trom SL3l, Stoc| Lxc|anges, HSLL, lOC, Company
Law 3oaro etc.
¸¸ ¸¸ H||
¯ota| ,, ,, H||
¿. Share 1ransfer oetails for the period from vst April, zovo to ¿vst March, zovv:
1ransactions Þhysical oemat 1otal
Humber ot ¯ransters ¸o, :6¸, .:6:
Average Humber ot ¯ransters per mont| ,. :¸8 :8o
Humber ot S|ares ¯ransterreo ,,¸6, :,,:o888 :,,6o.¸,
Average Humber ot s|ares ¯ransterreo per mont| ,::, :.oo,o, :.o¸o.:
Ho. ot Þeno|ng S|are ¯ransters HlL HlL HlL
q. lnvestors' erievances:
¯|e leg|strars ano ¯ranster Agents unoer t|e superv|s|on ot t|e Secretar|a| Lepartment ot t|e Company |oo| atter |nvestors' gr|evances. |r. H|t|n
!os|| ot S|arepro Serv|ces (lno|a) Þr|vate L|m|teo |s respons|b|e tor reoressa| ot lnvestors' Cr|evances. ¯|e Company secretary ot t|e Company
|as been appo|nteo as t|e Comp||ance Omcer tor t||s purpose. At eac| |eet|ng ot t|e lnvestors' Cr|evance Comm|ttee, a|| matters perta|n|ng to
|nvestors |nc|uo|ng t|e|r gr|evances ano reoressa| are reporteo.
y. lnformation on eeneral Body Meetings:
{i} 1he last ¿ Annual eeneral Meetings of the Company were held as under:
Late ¯|me venue
.¸t| September, .o:o :o.¸o a.m. ¯|a|oreb|a| Lesa| la||, Hr.Law Caroen, L|||sbr|oge, A|meoabao-¸8ooo6
.¸t| September, .oo, ::.oo a.m. ¯|a|oreb|a| Lesa| la||, Hr.Law Caroen, L|||sbr|oge, A|meoabao-¸8ooo6
¸:st !u|y, .oo8 :..¸o p.m. ¯|a|oreb|a| Lesa| la||, Hr.Law Caroen, L|||sbr|oge, A|meoabao-¸8ooo6
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
¡õ
{ii} Special Þesolutions passed at the last ¿ Annual eeneral Meetings:
zoop-vo
:. le-appo|ntment ot ano payment ot remunerat|on to |r. Sanjay S. La|b|a| as C|a|rman ano |anag|ng L|rector ot t|e Company tor a turt|er
per|oo ot t|ree years trom :st !anuary, .o:o to ¸:st Lecember, .o:..
.. Þayment ot comm|ss|on to Hon-Lxecut|ve L|rectors |nc|uo|ng Hom|nee L|rectors ot t|e Company tor a per|oo ot ¸ years trom :st Apr||, .o:o
to ¸:st |arc|,.o:¸.
zoo8-op
:. Appo|ntment ot |r. ku||n La|b|a| |n t|e omce or p|ace ot pront |n t|e Company unoer Sect|on ¸:, ot t|e Compan|es Act, :,¸6.
.. Þart|a| 0t|||sat|on ot Secur|t|es Þrem|um Account not exceeo|ng C6o crores to set on certa|n one t|me expenses subject to connrmat|on ot
t|e lonourab|e l|g| Court ot Cujarat.
zooy-o8
:. Approva| ot terms ot re-appo|ntment ot |r. !ayes| k. S|a| as v|o|e-t|me L|rector w|t| t|e oes|gnat|on ot L|rector ano C||et l|nanc|a|
Omcer ot t|e Company tor a turt|er per|oo ot t|ree years trom :st October, .oo8 to ¸ot| September, .o::.
.. Appo|ntment ot |r. Þun|t La|b|a| |n t|e omce or p|ace ot pront |n t|e Company unoer Sect|on ¸:, ot t|e Compan|es Act, :,¸6.
{iii} No resolutions were passed through Þostal Ballot during the previous year.
oetails of Lxtra Ordinary eeneral Meetings:
Lur|ng |ast ¸ years, One Lxtra Oro|nary Cenera| |eet|ngs was |e|o as unoer.
oate 1ime venue
:.t| |ay, .oo, :o.oo A| ¯|a|oreb|a| Lesa| la||, Hr.Law Caroen, L|||sbr|oge, A|meoabao-¸8ooo6
6. Means of communication
|. ¯|e Quarter|y lesu|ts are pub||s|eo |n t|e l|nanc|a| Lxpress - A|| lno|a Lo|t|ons ano l|nanc|a| Lxpress Cujarat| Lo|t|on ot A|meoabao ano are
a|so posteo on t|e Company's webs|te at www.arv|no.com.
||. lntormat|on re|easeo to t|e press at t|e t|me ot oec|arat|on ot resu|ts |s a|so sent to a|| Stoc| Lxc|anges w|ere t|e s|ares ot t|e Company are
||steo tor t|e benent ot |nvestors. |oreover, t|e Company's web-s|te |osts a spec|a| page g|v|ng |ntormat|on w||c| |nvestors usua||y see|.
|||. Þresentat|ons maoe to |nst|tut|ona| |nvestors/ana|ysts are posteo on t|e Company's web- s|te at www.arv|no.com.
y. Annual eeneral Meeting:
oate ¿oth September, zovv
¯|me :o.¸o a.m.
venue ¯|a|oreb|a| Lesa| la||, Hear Law Caroen, L|||sbr|oge, A|meoabao - ¸8o oo6
8. linancial Calendar:
¯|e l|nanc|a| /ear ot t|e Company |s tor a per|oo ot :. mont|s trom :st Apr|| to ¸:st |arc|.
l|rst quarter resu|ts . 3y eno ot !u|y, .o::
Secono quarter resu|ts . 3y eno ot October, .o::
¯||ro quarter resu|ts . 3y eno ot !anuary, .o:.
lourt| quarter resu|ts / /ear eno resu|ts . Secono vee| ot |ay, .o:.
p. Book Closure: Saturoay, t|e .,t| September, .o:: to lr|oay, ¸ot| September, .o:: (3ot| oays |nc|us|ve).
vo. oividend payment oate: Hot App||cab|e as t|e 3oaro |as not recommenoeo any o|v|oeno on equ|ty s|ares tor t|e nnanc|a| year.
vv. Listing on Stock Lxchanges: S|ares ot t|e Company are ||steo on t|e to||ow|ng Stoc| Lxc|anges.
Sr.
No.
Name of the Stock Lxchange Code Address
: A|meoabao Stoc| Lxc|ange L|m|teo
(leg|ona| Stoc| Lxc|ange)
o¸o,o kamo|enu Comp|ex, Opp. Sa|ajanano Co||ege, Þanjarapo|e, A|meoabao-¸8o o:¸
. 3ombay Stoc| Lxc|ange L|m|teo ¸oo:o: Þ||roze !eejeeb|oy ¯ower, La|a| Street |umba| ,oo oo:
¡;
Sr.
No.
Name of the Stock Lxchange Code Address
¸ Hat|ona| Stoc| Lxc|ange ot lno|a
L|m|teo
AlvlHL Lxc|ange Þ|aza, ¸t| l|oor, Þ|ot Ho.C/:, C. 3|oc|, 3anora kur|a Comp|ex, 3anora (L)
|umba| ,oo o¸:
, ¯|e Luxembourg Stoc| Lxc|ange
(L|st|ng ot CLls)
::, Avenue oe |a Þorte-Heuve L-..., Luxembourg
¯|e Company |as pa|o Annua| L|st|ng lees tor t|e year .o::-:. to t|e above Stoc| Lxc|anges.
vz. Market Þrice oata:
¯|e oata on pr|ce ot equ|ty s|ares ot t|e Company are as unoer.
l|g|, Low our|ng eac| mont| |n |ast nnanc|a| year ano Þertormance |n compar|son to broao-baseo |no|ces suc| as 3SL (Sensex) ano HSL (H|tty).
Share price BSL BSL Sensex volumes Share price NSL NSL {Nll1Y} volumes
Month High
{C}
Low
{C}
High Low No. of
Shares
High
{C}
Low
{C}
High Low No. of
Shares
Apr-:o ¸,.,o ¸..,o :8o,,.86 :,.,6.8o :¸o6¸¸68 ¸,.,o ¸..,¸ ¸¸,,.6¸ ¸:6o.,o .:,:6¸o,
|ay-:o ¸,..o ¸o.:o :,¸¸6.86 :¸,6o.:¸ 6o,:,oo ¸,..o ¸o..o ¸.,8.,o ,,86.,¸ :o6¸,,,6
!un-:o ¸6.8o ¸o.:¸ :,,:,.6. :6¸:8.¸, ::,.,,¸: ¸6.8o ¸o.oo ¸¸66.,¸ ,,6:.o¸ :,¸68¸.o
!u|-:o ¸6.,¸ ¸¸.,¸ :8.¸,.¸6 :,¸,¸.¸8 :oo,,:,, ¸6.¸o ¸¸.¸o ¸,,,.¸o ¸..¸.6o :6:o¸,6.
Aug-:o ,,.6¸ ¸,.¸¸ :8,,¸... :,8:,.,, ,o6,,¸,, ,,.6o ¸,..¸ ¸¸,,.8o ¸¸,8.,o 6,¸o6¸:o
Sep-:o ,,..o ,:.o¸ .o.6,.,8 :8o.,.:. ..,,,6¸, ,,..¸ ,:.oo 6o,¸.¸o ¸,o¸.o¸ ¸68,.,::
Oct-:o 6..¸o ,,.¸o .o8,¸.¸¸ :,,68.,6 ,:,8oo88 6..6o ,,.¸¸ 6.8,.:o ¸,¸,.:o :.¸,,.6,6
Hov-:o 68.6o ,8.¸¸ .::o8.6, :8,¸,.8. .6,,8¸:¸ 68.,o ,8..o 6¸¸8.¸o ¸6,o.¸¸ ¸::8,,o6
Lec-:o ,¸.,o ,6.o¸ .o¸¸..o¸ :,o,,.¸, ¸.:¸¸¸¸, ,¸.8¸ ,6.¸o 6:,,.¸o ¸,.:.:¸ 6o88¸:¸.
!an-:: ,,.¸o ¸,.8o .o66,.8o :8o¸8.,8 .¸6¸,:6, ,,.8¸ ¸¸..o 6:8:.o¸ ¸,:6.6¸ ¸o:88.,8
leb-:: 6,.8o ¸:.:¸ :86,o.,, :,.,¸.6. :¸8o¸,¸: 6,.8o ¸:.:o ¸¸,,..¸ ¸:,,.,o .¸,o..o,
|ar-:: 6,.,¸ ¸:.¸o :,¸,¸.:6 :,,,..:, :,:,:6o¸ 6,.,o ¸:..¸ ¸8,..oo ¸¸,8..o ¸:,.6,o¸
v¿. Þegistrars and 1ransfer Agents:
S|arepro Serv|ces (lno|a) Þr|vate L|m|teo
,:6-,.o, ,t| l|oor, Levnanoan |a||,
Opp. Sanyas As|ram, L|||sbr|oge, A|meoabao - ¸8o oo6
Contact Þersons. |r. H|t|n !os||
Þ|one Hos.. o,,-.6¸8.¸8: to 8,
lax Ho. . o,,-.6¸8.¸8¸
L-ma||. s|arepro.a|meoabao_s|areproserv|ces.com
vq. oelegation of Share 1ransfer lormalities:
S|nce t|e Company's s|ares are compu|sor||y traoeo |n t|e oemat segment on stoc| exc|anges, bu|| ot t|e transters ta|e p|ace |n t|e e|ectron|c
torm.
lor expeo|t|ng p|ys|ca| transters, t|e 3oaro |as oe|egateo s|are transter torma||t|es to certa|n omcers ot t|e Company w|o atteno to t|em at |east
¸ t|mes |n a mont|. Þ|ys|ca| transters are anecteo w|t||n t|e statutory per|oo ot one mont|. ¯|e 3oaro |as oes|gnateo t|e Company Secretary as
t|e Comp||ance Omcer.
vy. Shareholding Þattern as on ¿vst March, zovv:
Sr. No. Category No. of shares
held
Þercentage of
Shareholding
Holding of Þromoter eroup {'eroup' as per MÞ1Þ Act, vp6p}
v lndividuals:
|r. Sanjay S. La|b|a| ¸ooo:¸. :.:8
|r. Samveg A. La|b|a| .:¸6¸, o.o8
|r. S|ren|| k. La|b|a| :,:, o.oo
le|at|ves ot above lno|v|oua|s* :o,668 o.o¸
z Major Bodies Corporate and 1rusts:
Aura Secur|t|es Þr|vate L|m|teo 8¸.¸888. ¸¸.¸:
A|L Lmp|oyees' ve|tare ¯rust 6¸.,6., ..,,
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
¡8
Sr. No. Category No. of shares
held
Þercentage of
Shareholding
Agr|more L|m|teo :,¸ooo o.o,
Amazon lnvestments Þr|vate L|m|teo :,,.:¸8 o.,o
Acropo||s lnvestments L|m|teo ,.,:,, o.:,
Aeon lnvestments Þr|vate L|m|teo ::.6.oo o.,,
Ans|uman lo|o|ngs Þr|vate L|m|teo ,ooooo o.:6
Anub|av lnvestments Þr|vate L|m|teo ,,68:¸ o.¸,
Atu| L|m|teo ,:.,,,: :.6.
Anu|u| lnvestments Þr|vate L|m|teo o o.oo
Ameer ¯rao|ng Corporat|on L|m|teo o o.oo
Aoore lnvestments Þr|vate L|m|teo :¸o,,¸ o.o¸
Amaroeep lo|o|ngs Þr|vate L|m|teo ,,.¸o o.o,
Sanjay lam||y ¯rust :oo o.oo
La|b|a| lea|ty l|nance Þr|vate L|m|teo o o.oo
Anagram know|eoge Acaoemy L|m|teo o o.oo
Swetratna ¯rao|ng 8 lnvestment Þr|vate L|m|teo 66ooooo ..¸,
S|rut| ¯raoe L|n| Þr|vate L|m|teo o o.oo
1otal Þromoter eroup Holding vvoyy6y8z q¿.yq
Non-Þromoter Holding
¸ |utua| lunos ano 0¯l :,6¸¸,6, 6.,¸
, 3an|s, l|nanc|a| lnst|tut|ons, lnsurance Compan|es .o8,.¸,, 8..o
¸ lore|gn lnst|tut|ona| lnvestors, Hlls/OC3s, lore|gn 3an|s .o,6¸,o, 8.o¸
6 CLl ¸,8o,. o..¸
, Þr|vate Corporate 3oo|es :¸::,¸o8 ¸.:¸
8 lno|an Þub||c ,:oo:,,. .,.,o
1otal Non-Þromoter holding vq¿6q¿qyp y6.q6
eÞANo 1O1AL zyqqoooqv voo.oo
* ¯|e names ot 'le|at|ves ot above lno|v|oua|s' are as per o|sc|osures maoe as on ¸:st |arc|, .o:: unoer t|e SL3l (Substant|a| Acqu|s|t|on ot S|ares
ano ¯a|eovers) legu|at|ons, :,,,.
» oistribution of shareholding as on ¿vst March, zovv:
No. of shares LLLC1ÞONlC MOoL ÞHYSlCAL MOoL 1O1AL 1O1AL
No. of
Holders
No. of
Shares
No. of
Holders
No. of
Shares
No. of
Holders
% No. of
Shares
%
:-¸oo :¸¸6:, .::o¸,,8 ¸8¸.o .,o,:6o
:,.:¸, 88.8, .,o:,6¸8 ,.,,
¸o:-:ooo ::¸68 ,¸8,,¸. ,.: .,.868
::,8, 6.:, ,88o¸oo ¸.88
:oo:-.ooo ,,o, ,6.,o:¸ :.o :6o8,,
¸o., ..6o ,,8,86. ¸.o6
.oo:-¸ooo :¸.o ¸,,,,,¸ .6 6,,¸:
:¸,6 o.8o ,o:,¸,6 :.¸8
¸oo:-,ooo 6.. ..¸6:¸. :¸ ¸.8¸,
6¸, o.¸¸ ..8,oo6 o.,o
,oo:-¸ooo ,o¸ ¸¸¸¸.:: :¸ ¸8:oo
,:6 o.¸, ¸,::¸:: :.¸,
¸oo:-:oooo ,8: ¸,:.,6¸ ¸ .:88,
,8, o.,o ¸,¸,6¸. ..¸¸
Above :ooo: ,,8 :,6,,:¸¸, 6 ,6¸:6
8o, o.,. :,,o6,8,6 ,,.,6
¯O¯AL :¸,¸:6 .¸o,,.8¸: ¸,:., ¸6¸,:,o
:,¸6,o :oo.oo .¸,,ooo,: :oo.oo
v6. oematerialisation of Shares and Liquidity:
¯|e Company's s|ares are ava||ab|e tor oemater|a||sat|on on bot| t|e Lepos|tor|es v|z. Hat|ona| Secur|t|es Lepos|tory L|m|teo (HSLL) ano Centra|
Lepos|tory Serv|ces (lno|a) L|m|teo (CLSL). S|ares ot t|e Company are compu|sor||y to be oe||vereo |n t|e oemat torm on Stoc| Lxc|anges by a||
|nvestors. As on ¸:st |arc|, .o::, .¸o,,.8¸: s|ares represent|ng ,8.¸6/ ot t|e |ssueo cap|ta| |ave been oemater|a||seo by |nvestors ano bu|| ot
transters ta|e p|ace |n t|e oemat torm.
oemat lSlN Number:
Lqu|ty S|ares tu||y pa|o . lHLo¸,Ao:o::
vy. Outstanding eoÞs[AoÞs[warrants or any convertible instruments and conversion date and likely impact on Lquity:
As on ¸:st |arc|, .o::, ¸,,8,o,. CLls (prev|ous year 6,,¸,:,.) are outstano|ng. Lac| CLl represents one unoer|y|ng equ|ty s|are.
¡p
v8. Þlant Locations:
» L|testy|e labr|cs Len|m, Harooa loao, A|meoabao - ¸8o o.¸, Cujarat .
» L|testy|e labr|cs S||rt|ng, k|a||s 8 kn|twear, Santej, ÞO k|atrej, ¯a|u|a ka|o|, L|st. Cano||nagar - ¸8. ,.:, Cujarat.
» L|testy|e Appare| kn|ts, Santej, ÞO k|atrej, ¯a|u|a ka|o|, L|st. Cano||nagar - ¸8. ,.:, Cujarat.
» L|testy|e Appare| S||rts, ¸¸, Þuttappa lnoustr|a| Lstate, v||tene|o loao, |a|aoevapura Þost, 3anga|ore - ¸6o o,8.
» L|testy|e Appare| !eans, .6/., .,/. kenc|ena|a|||, |ysore loao, Hear 3anga|ore 0n|vers|ty, 3anga|ore-¸6o o¸,.
vp. unclaimed oividend :
(:) Þursuant to Sect|on .o¸A ot t|e Compan|es Act, :,¸6, unc|a|meo o|v|oenos upto ano |nc|uo|ng t|e nnanc|a| years :,,¸-,, |ave been
transterreo to t|e Cenera| levenue Account ot t|e Centra| Covernment. S|are|o|oers w|o |ave not encas|eo t|e|r o|v|oeno warrants
re|at|ng to any nnanc|a| year upto :,,¸-,, are requesteo to c|a|m t|e amounts trom t|e leg|strar ot Compan|es, Cujarat, lOC 3|avan, Hear
An|ur 3us Stano, Haranpura, A|meoabao ¸8o o:¸ |n t|e prescr|beo torm. lnvestors may wr|te to t|e Secretar|a| Lepartment ot t|e Company
or t|e leg|strars ano ¯ranster Agents tor a copy ot t|e torm.
(.) Þursuant to t|e prov|s|ons ot Sect|on .o¸A(¸) ot t|e Compan|es Act, :,¸6, o|v|oenos on equ|ty s|ares tor t|e nnanc|a| years :,,,-,¸ to :,,,-
,8 rema|n|ng unc|a|meo tor , years trom t|e|r oue oates |ave been transterreo by t|e Company to t|e lnvestor Loucat|on ano Þrotect|on
luno (lLÞl) estab||s|eo by t|e Centra| Covernment pursuant to Sect|on .o¸C ot t|e Compan|es Act, :,¸6. S|are|o|oers are requesteo to
note t|at no c|a|m s|a|| ||e aga|nst t|e sa|o luno or t|e Company |n respect ot any amount ot unc|a|meo or unpa|o o|v|oeno transterreo to
lLÞl.
(¸) ¯|e Company o|o not oec|are any o|v|oenos on equ|ty s|ares tor t|e nnanc|a| years :,,8-,, to .oo¸-o,.
¯|e o|v|oenos on equ|ty s|ares tor t|e to||ow|ng years rema|n|ng unc|a|meo tor , years trom t|e oates ot oec|arat|on are requ|reo to be
transterreo by t|e Company to lLÞl ano t|e var|ous oates tor transter ot suc| amounts are as unoer.
linancial Year oate of oeclaration oue for transfer to lLÞl*
.oo,-o¸ .,t| September, .oo¸ :ot| October, .o:.
.oo¸-o6 ¸ot| September, .oo6 ::t| October, .o:¸
* Actua| oates ot transter to lLÞl may vary.
(,) |embers w|o |ave so tar not enc|aseo t|e|r o|v|oeno warrants |n t|e respect ot t|e above years are requesteo to c|a|m t|e|r o|v|oeno trom
t|e Company. Suc| members may wr|te to t|e Company's leg|strars ano ¯ranster Agents, S|arepro Serv|ces (lno|a) Þr|vate L|m|teo tor
payment ot unc|a|meo o|v|oeno amount.
(¸) ¯|e Company o|o not oec|are any o|v|oenos on equ|ty s|ares tor t|e nnanc|a| years .oo6-o, to .oo,-:o.
zo. Nomination lacility:
S|are|o|oers |o|o|ng s|ares |n p|ys|ca| torm ano oes|rous ot ma||ng a nom|nat|on |n respect ot t|e|r s|are|o|o|ng |n t|e Company, as perm|tteo
unoer Sect|on :o,A ot t|e Compan|es Act, :,¸6 are requesteo to subm|t t|e prescr|beo lorm .3 tor t||s purpose. S|are|o|oers may wr|te to t|e
Secretar|a| Lepartment ot t|e Company tor a copy ot t|e lorm.
zv. Address for Correspondence:
S|are|o|oers may correspono w|t| t|e Company at t|e leg|stereo Omce ot t|e Company or at t|e omce ot leg|strars ano ¯ranster Agents ot t|e
Company.
Arv|no L|m|teo
Secretar|a| Lepartment
Harooa loao,
A|meoabao - ¸8o o.¸.
Þ|one Hos. o,,-¸o:¸8ooo / ¸o:¸8:o,
lax Ho. . o,,-¸o:¸8668
e-ma|| . |nvestor_arv|no.com
veb-s|te aooress. www.arv|no.com
S|arepro Serv|ces (lno|a) Þr|vate L|m|teo
leg|strars ano ¯ranster Agents
,:6-,.o, ,t| l|oor, Levnanoan |a||,
Opp. Sanyas As|ram, L|||sbr|oge, A|meoabao - ¸8o oo6
Contact Þersons. |r. H|t|n !os||
Þ|one Hos.. o,,-.6¸8.¸8:-to 8,
lax Ho. . o,,-.6¸8.¸8¸
e-ma|| . s|arepro.a|meoabao_s|areproserv|ces.com
¯|e above leport |as been p|aceo betore t|e 3oaro at |ts meet|ng |e|o on .ot| |ay, .o:: ano t|e same was approveo.
lor ano on be|a|t ot t|e 3oaro
Þlace : Ahmedabad SAN1AY S. LALBHAl
Late . .ot| |ay, .o:: C|a|rman 8 |anag|ng L|rector
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
zo
Comµllance of condltlons of Corµorate Governance
1o the Members of Arvind Limited
Ahmedabad
ve |ave exam|neo t|e comp||ance ot cono|t|ons ot Corporate Covernance by AlvlHL Ll|l¯LL, tor t|e year enoeo on ¸:st |arc|, .o::, as st|pu|ateo |n
C|ause ,, ot t|e L|st|ng Agreement ot t|e sa|o Company w|t| Stoc| Lxc|anges.
¯|e comp||ance ot cono|t|ons ot Corporate Covernance |s t|e respons|b|||ty ot t|e management. Our exam|nat|on was ||m|teo to a rev|ew ot t|e
proceoures ano |mp|ementat|on t|ereot, aoopteo by t|e Company tor ensur|ng t|e comp||ance ot t|e cono|t|ons ot t|e Corporate Covernance. lt |s
ne|t|er an auo|t nor an express|on ot op|n|on on t|e nnanc|a| statements ot t|e Company.
ln our op|n|on ano to t|e best ot our |ntormat|on ano accoro|ng to t|e exp|anat|ons g|ven to us ano t|e representat|ons maoe by t|e L|rectors ano t|e
management, we cert|ty t|at t|e Company |as comp||eo w|t| t|e cono|t|ons ot Corporate Covernance as st|pu|ateo |n t|e above ment|oneo L|st|ng Agreement.
ve state t|at suc| comp||ance |s ne|t|er an assurance as to t|e tuture v|ab|||ty ot t|e Company nor t|e emc|ency or enect|veness w|t| w||c| t|e
management |as conoucteo t|e ana|rs ot t|e Company.
lor Sorab S. Lngineer 8 Co.
llrm Þeglstratlon No. ¡¡oµ¡;W
Chartered Accountants
CA. N. o. Anklesaria
Ahmedabad Þartner
zoth Vay, zo¡¡ Vembershlµ No. ¡oz¸o
CLO/ClO Certlñcatlon
¯|e 3oaro ot L|rectors
Arv|no L|m|teo
A|meoabao.
Þe : linancial Statements for the year zovo-vv - Certiñcation by CLO and ClO
ve, Sanjay S. La|b|a|, C|a|rman 8 |anag|ng L|rector ano !ayes| k. S|a|, L|rector 8 C||et l|nanc|a| Omcer ot Arv|no L|m|teo, on t|e bas|s ot rev|ew ot t|e nnanc|a|
statements ano t|e cas| now statement tor t|e nnanc|a| year eno|ng ¸:st |arc|, .o:: ano to t|e best ot our |now|eoge ano be||et, |ereby cert|ty t|at.
:. ¯|ese statements oo not conta|n any mater|a||y untrue statements or om|t any mater|a| tact or conta|ns statements t|at m|g|t be m|s|eao|ng,
.. ¯|ese statements toget|er present a true ano ta|r v|ew ot t|e Company's ana|rs ano are |n comp||ance w|t| ex|st|ng account|ng stanoaros,
app||cab|e |aws ano regu|at|ons,
¸. ¯|ere are, to t|e best ot our |now|eoge ano be||et, no transact|ons entereo |nto by t|e Company our|ng t|e year enoeo ¸:st |arc|, .o:: w||c| are
trauou|ent, |||ega| or v|o|at|ve ot t|e Company's Cooe ot Conouct,
,. ve accept respons|b|||ty tor estab||s||ng ano ma|nta|n|ng |nterna| contro|s, we |ave eva|uateo t|e enect|veness ot t|e |nterna| contro| systems ot
t|e Company ano we |ave o|sc|oseo to t|e auo|tors ano t|e Auo|t Comm|ttee t|ose oenc|enc|es, ot w||c| we are aware, |n t|e oes|gn or operat|on
ot t|e |nterna| contro| systems ano t|at we |ave ta|en t|e requ|reo steps to rect|ty t|ese oenc|enc|es,
¸. ve turt|er cert|ty t|at .
(a) t|ere |ave been no s|gn|ncant c|anges |n |nterna| contro| our|ng t||s year,
(b) t|ere |ave been no s|gn|ncant c|anges |n account|ng po||c|es our|ng t||s year,
(c) t|ere |ave been no |nstances ot s|gn|ncant trauo ot w||c| we |ave become aware ano t|e |nvo|vement t|ere|n, ot management or an
emp|oyee |av|ng s|gn|ncant ro|e |n t|e Company's |nterna| contro| systems.
A|meoabao, Sanjay S. Lalbhai 1ayesh k. Shah
.ot| |ay, .o:: C|a|rman 8 |anag|ng L|rector L|rector 8 ClO
LLCLAlA¯lOH lLCAlLlHC CO|ÞLlAHCL 3/ 3OAlL |L|3LlS AHL SLHlOl |AHACL|LH¯ ÞLlSOHHLL vl¯l ¯lL COLL Ol COHL0C¯ lOl
LllLC¯OlS AHL SLHlOl |AHACL|LH¯ ÞLlSOHHLL
¯||s |s to connrm t|at t|e Company |as aoopteo Cooe ot Conouct tor L|rectors ano Sen|or |anagement Þersonne| w||c| |s ava||ab|e on t|e Company's
webs|te.
l connrm t|at t|e Company |as |n respect ot t|e l|nanc|a| /ear enoeo ¸:st |arc|, .o::, rece|veo trom t|e |embers ot t|e 3oaro ano Sen|or |anagement
Þersonne| a oec|arat|on ot comp||ance w|t| t|e Cooe ot Conouct as app||cab|e to t|em.
A|meoabao Sanjay S. Lalbhai
.ot| |ay, .o:: C|a|rman 8 |anag|ng L|rector

olSCLAlMLÞ
leaoers are caut|oneo t|at t||s o|scuss|on ano ana|ys|s conta|ns torwaro-
|oo||ng statements t|at |nvo|ve r|s|s ano uncerta|nt|es. v|en useo |n
t||s o|scuss|on, t|e woros °ant|c|pate,º °be||eve,º °est|mate,º °|nteno,º
°w|||,º ano °expecteoº ano ot|er s|m||ar express|ons as t|ey re|ate to t|e
Company or |ts bus|ness are |ntenoeo to |oent|ty suc| torwaro-|oo||ng
statements. ¯|e Company unoerta|es no ob||gat|on to pub||c|y upoate
or rev|se any torwaro-|oo||ng statements, w|et|er as a resu|t ot new
|ntormat|on, tuture events, or ot|erw|se. Actua| resu|ts, pertormances
or ac||evements, r|s|s ano opportun|t|es cou|o o|ner mater|a||y trom
t|ose expresseo or |mp||eo |n t|ese torwaro-|oo||ng statements. leaoers
are caut|oneo not to p|ace unoue re||ance on t|ese torwaro-|oo||ng
statements as t|ese are re|evant at a part|cu|ar po|nt ot t|me 8 aoequate
restra|n s|ou|o be app||eo |n t|e|r use tor any oec|s|on ma||ng or tormat|on
ot an op|n|on.
¯|e to||ow|ng o|scuss|on ano ana|ys|s s|ou|o be reao |n conjunct|on
w|t| t|e Company's l|nanc|a| Statements |nc|uoeo |ere|n ano t|e notes
t|ereto.
OvLÞvlLw Ol 1HL LCONOMY
¯|e growt| ot lno|an economy |as been very tast to||ow|ng t|e s|owoown
oue to g|oba| nnanc|a| cr|s|s |n .oo,-o,. As per qu|c| est|mateo oata
re|easeo on ¸:st !anuary .o::, growt| ot .oo,-:o |s est|mateo at 8.o
percent as compare to 8.6 percent |n .o:o-:: as per aovance est|mateo
oata ot Centra| Stat|st|c Omce (CSO) re|easeo on ,t| lebruary .o::, t|e
turnarouno was strong, w|t| a rebouno |n agr|cu|ture ano cont|nueo
momentum |n manutactur|ng. ¯|e oece|erat|on |n commun|ty, soc|a| ano
persona| serv|ces, as a|so |noustry, rema|neo a cause tor concern. ¯|e
meo|um to |ong-run prospect ot t|e economy, |nc|uo|ng t|e |noustr|a|
sector, |owever, cont|nues to rema|n pos|t|ve. On t|e oemano s|oe, a r|se
|n sav|ngs ano |nvestment, ano p|c|-up |n pr|vate consumpt|on resu|teo |n
strong growt| ot CLÞ at constant mar|et pr|ces at ,., per cent |n .o:o-::.
¯|e est|mateo |eve| ot growt| |n t|e CLÞ at constant .oo,-o¸ pr|ces at
tactor cost (rea| CLÞ) |n .o:o-:: was composeo ot. growt| ot ¸., per cent
|n agr|cu|ture, growt| ot 8.: per cent |n |noustry, ano a oece|erateo growt|
ot ,.6 per cent |n serv|ces.
looo |tems |arge|y orove |nnat|on, w||c| rema|neo at e|evateo |eve|s tor
greater part ot t|e year. Lesp|te t|g|ten|ng ot t|e money mar|ets ano
mooerate growt| |n oepos|ts, t|e nnanc|a| s|tuat|on rema|neo oroer|y
w|t| a p|c|-up |n creo|t growt|, v|brant equ|ty mar|et ano stab|e tore|gn
exc|ange mar|et.
ln |ast t|ree years t|e lno|an economy |ao been severe|y butteteo by
two s|oc|s |n rap|o success|ont|e onset ot g|oba| t|nanc|a| cr|s|s
|n .oo,-o, ano errat|c monsoon resu|t|ng |n oroug|t |n .oo,-:o.
¯||s per|oo ot econom|c stress severe|y testeo t|e po||cyma|ers.
/et t|e lno|an economy came t|roug| w|t| res|||ence ano strengt|,
by to||ow|ng counter-cyc||ca| macro-econom|c po||c|es, structura|
measures to promote growt| ano soc|a| speno|ng to prov|oe a stronger
tounoat|on to protect t|e poor.
ln tanoem w|t| wor|o traoe vo|umes, lno|a's exports te|| rap|o|y
to||ow|ng t|e oeepen|ng ot t|e g|oba| t|nanc|a| cr|s|s t|roug| .oo8-
o,. ¯|e exports, |owever, rose |n t|e secono |a|t ot .oo,-:o, w||c|
cont|nueo t|roug| .o:o-:: unt|| !une .o:o. ¯|ereatter, growt|
oece|erateo t||| October .o:o ano p|c|eo up subsequent|y to reac|
¸6., per cent |n Lecember .o:o, w||c| |s t|e ||g|est growt| |n |ast
Vanagement Olscusslon 8 Analysls
two years. ¯|e cumu|at|ve export growt| |n Apr||-Lecember .o:o-::
was .,.¸ per cent ano reac|eo $ :6,., b||||on our|ng t|e per|oo. lno|a's
merc|ano|se |mports, a|so attecteo by t|e g|oba| recess|on, te|| to
$.88., b||||on w|t| a negat|ve growt| ot -¸.o per cent |n .oo,-:o. ¯raoe
oet|c|t (on customs bas|s) |ncreaseo by .., per cent to $8. b||||on |n
.o:o-:: (Apr||-Lecember). ¯|e |ower |eve| ot surp|uses on t|e |nv|s|b|e
ba|ance, t|e re|at|ve|y ||g|er |mport growt| compareo to export
growt| |n t|rst |a|t ot .o:o-:: ra|seo concerns ot unsusta|nab|e current
account oet|c|t |eve|s.
lndian 1extile lndustry
¯|e |ast year |.e. .o:o-:: was a commenoab|e year atter t|e prev|ous
c|a||eng|ng year tor t|e lno|an text||es |noustry. Lven as t|e lno|an
economy recovereo rap|o|y trom t|e s|owoown causeo by t|e g|oba|
t|nanc|a| cr|s|s, |nt|at|onary trenos ano vo|at|||ty |n commoo|ty pr|ces
|eo to strong oemano s|oe pressures.
¯|e 0S$ ,o b||||on lno|an text||e |noustry contr|butes about :, per cent
to |noustr|a| proouct|on, , per cent to t|e country's Cross Lomest|c
Þroouct (CLÞ) ano :, per cent to t|e country's export earn|ngs,
accoro|ng to t|e Annua| leport .oo,-:o ot t|e ||n|stry ot ¯ext||es.
¯|e ¯ext||e lnoustry |s t|e secono |argest prov|oer ot emp|oyment
atter agr|cu|ture. ¯|us, t|e growt| ano a|| rouno oeve|opment ot t||s
|noustry |as a o|rect bear|ng on t|e |mprovement ot t|e economy ot
t|e nat|on.
As on ¸o.,..o:o, t|ere were :8,6 Cotton/|an-maoe l|bre ¯ext||e ||||s
(non-SSl) |n t|e country w|t| an |nsta||eo capac|ty ot ¸8.¸¸ m||||on
sp|no|es ¸,:8,ooo rotors ano ¸,,ooo |ooms.
Þroduction of Cloth in Mill Sector
MlLL SLC1OÞ {in million sq. metre}
ltem zoo¿-oq zooq-oy zooy-o6 zoo6-oy zooy-o8 zoo8-op zoop-vo zovo-vv
{Þ} April-Oct
Cotton ,6, :o,. ::,. :¸o¸ :.,, :.¸, :,:, 8o8
3|enoeo .¸¸ .,¸ .¸. ¸¸o ,.. ,.6 ,,¸ .,.
:oo/
Hon
Cotton
.:. .:: .:. ::: ::o ::: 6, ,,
1otal vq¿q vyz6 v6y6 vyq6 vy8v vyp6 vp6v vv¿o
Cotton and Cotton Yarn
¯|e pr|ces ot cotton ano yarn |ave |ncreaseo |n t|e country our|ng t|e
current year .o:o-:: as compareo to prev|ous years by a|most :oo/. ¯|e
average pr|ces ot cotton are.
Average price of selected variety of Lint Cotton
(C/Qu|nta|)
Cotton variety zoo8-op zoop-vo
zovo-vv
{upto 1anuary, vv}
!¸, 6:.6 ,¸,, ::.o6
l-,/|ec|-l 6:oo ,8o6 ::6,8
S-6/S-, 6¸o, ,,,o :.o:,
LCl-¸. 86¸¸ ::,,o :¸o.¸
LlA-¸:66 ¸,,¸ ,¸:8 ::,::
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
zz
¯|e proouct|on ot raw cotton |as |ncreaseo trom .,o |a|| ba|es |n
season .oo8-o, to .,¸ |a|| ba|es |n .oo,-:o ano |s est|mateo to grow
to ¸., |a|| ba|es |n .o:o-::. ¯|e proouct|on ot cotton yarn |as s|own
an |ncrease ot :..6/ |n .o:o-:: (Apr|| to Lecember) as compareo to
.oo,-:o (Apr||-Lecember).
1echnology upgradation lund Scheme {1ulS}
¯|e Covernment |as restructureo t|e ¯ec|no|ogy 0pgraoat|on
luno Sc|eme (¯0lS) t|e nags||p sc|eme ot ||n|stry ot ¯ext||es tor
upgraoat|on ot tec|no|ogy |n t|e text||e ano jute sectors. lecent|y, ||n|stry
ot ¯ext||es |as |ssueo t|e Covernment leso|ut|on on lestructureo
¯ec|no|ogy 0pgraoat|on luno Sc|eme tor t|e per|oo .8.o,..o:: to
¸:.o¸..o:. (bot| t|e oays |nc|us|ve) w|t| an overa|| subs|oy cap ot C :,,,.
crores our|ng t|e per|oo. ¯|e Covernment leso|ut|on |ays oown t|e
nnanc|a| ano operat|ona| parameters ano |mp|ementat|on mec|an|sm tor
t|e lestructureo ¯0lS.
¯|ere w||| be an overa|| subs|oy cap ot C:,,,. crores trom t|e oate ot t||s
leso|ut|on to ¸:.o¸..o:., w||c| |s expecteo to |everage an |nvestment ot
C,6,,oo crores, w|t| sectora| |nvestment s|ares ot .6/ tor sp|nn|ng, :¸/
tor weav|ng, .:/ tor process|ng, 8/ tor garment|ng ano ¸./ tor ot|ers.
lndian Þetail Market
¯ota| reta|| sa|es |n lno|a w||| grow trom 0S$ ¸,¸.,6 b||||on |n .o:: to
0S$ ,8¸.:. b||||on by .o:¸, accoro|ng to t|e 3us|ness |on|tor lnternat|ona|
(3|l) lno|a leta|| leport tor t|e secono-quarter ot .o::. Strong unoer|y|ng
econom|c growt|, popu|at|on expans|on, t|e |ncreas|ng wea|t| ot
|no|v|oua|s ano t|e rap|o construct|on ot organ|zeo reta|| |ntrastructure
are |ey tactors be||no t|e torecast growt|. v|t| t|e expano|ng m|oo|e
ano upper c|ass consumer base, t|ere w||| a|so be opportun|t|es |n lno|a's
t|er ll ano lll c|t|es. Organ|zeo reta|| |n lno|a |s expecteo to |ncrease trom
¸ per cent ot t|e tota| mar|et |n .oo8 to :,-:8 per cent ano reac|
0S$ ,¸o b||||on by .o:¸, accoro|ng to a |ck|nsey 8 Company report t|t|eo
'¯|e Creat lno|an 3azaar. Organ|seo leta|| Comes ot Age |n lno|a'.
Accoro|ng to t|e report by |c||nsey, lno|a |s t|e on|y mar|et |n t|e wor|o
w|ere men's appare| (arouno ,o/) |s muc| |arger category t|an women's
(arouno ¸o/). A|so, |n women's wear, et|n|c appare| (Sa|war kameez ano
t|e Saree) const|tute arouno ,o/ ot t|e tota| speno|ng. |en's appare| w|||
|||e|y cont|nue to account ,o/ to ¸o/ ot t|e appare| mar|et |n .o:¸. At
current rate ot aoopt|on, no-et|n|c appare| tor women |s |||e|y to compr|se
|ess t|an :o/ ot t|e mar|et |n .o:¸. Accoro|ng to t|e report, |n t|e absence
ot aoequate |ntormat|on, qua||ty contro| ano trust |n reta||ers, peop|e use
branos as a proxy tor a|| t|ese. ln appare|, branos serve as a proxy tor t|e
|atest tas||on as we|| as t|e r|g|t qua||ty.
ÞLSuL1 ÞLvlLw
¯|e l|nanc|a| year .o:o-:: proveo to be a super|or year tor your company.
¯|e oemano tor oen|m ano s||rt|ng tabr|cs |s robust |nsp|te ot |ncrease
|n cotton pr|ces by a|most :oo/ our|ng t|e year. Company |as c|oseo
t|e nnanc|a| year .o:o-:: w|t| :¸/ growt| |n sa|es ano ¸8/ growt| |n
Operat|ng Larn|ngs betore lnterest Leprec|at|on ano ¯axes (Operat|ng
L3l¯LA). Company's ÞA¯ |as s|own a substant|a| r|se by :¸6/ compareo
to t|e prev|ous year.
¯|e stanoa|one nnanc|a|s ot t|e company |s as unoer.
(C |n Crores)
Þarticulars Year ended ¿v march
zovv zovo %
Change
Amount % of Sales Amount % of Sales
Het Sa|es8Operat|nglncome .,6,:... .,¸:6.8, :6/
Ot|er |ncome ¸,.¸: ::.8¸ :,./
¯ota| lncome .,,.¸.,¸ .,¸.8.,. :,/
|ater|a| Cost :,.¸¸.¸¸ ,6/ :,o¸¸.:. ,¸/ :,/
|anpower Cost .,¸.,o :o/ .,o.,o :o/ :,/
Ot|er expenses ,,..,¸ .,/ ,¸:.,¸ ¸./ 6/
¯ota| Lxpeno|ture .,.8o.:8 8¸/ .,oo,.,¸ 8,/ :,/
L3l¯LA ,,¸.¸¸ :,/ ¸.:.., :,/ ¸,/
Leprec|at|on ::6.:6 ,/ ::¸.8o ¸/ ./
lnterest ano l|nance Cost :,,.¸, ,/ :¸¸.,, ,/ .¸/
ÞA¯ :¸,.8o ¸/ ¸..oo ./ :¸,/
Þevenue, Sales and Operating lncome
levenue ot t|e Company unoer rev|ew |ncreaseo by :,/ compareo
to prev|ous year. Sa|es ano operat|ng |ncome a|so |ncreaseo by :6/.
Company's labr|c revenue trom Len|m ano s||rt|ng bus|ness s|own a
growt| ot .6/ ano .¸/ respect|ve|y |n terms ot sa|es ano 6/ ano :./ |n
terms ot vo|ume. labr|c revenue grew by w|opp|ng .8/ compareo to
prev|ous year w|ereas revenues trom t|e appare| bus|ness went oown
by ,./ on t|e c|osure ot one ot t|e |n|ts garment|ng tac|||ty as we|| as
oecrease |n jeans vo|ume. Ot|er |ncome |n |arge|y |s because ot sa|e ot |ano.
Þaw Materials
¯|e raw mater|a| cost |n abso|ute terms |as |ncreaseo by arouno :,/
compareo to t|e prev|ous year. 3ut t|e raw mater|a| cost, as a percentage
to sa|es, was ||g|er by marg|na||y :/ our|ng t|e year. ln t||s scenar|o ot
r|s|ng pr|ce, company |s ab|e to |eep |ts raw-mater|a| to sa|es rat|o |ntact
because ot |ts |mproveo buy|ng emc|ency ano correct|y t|m|ng t|e mar|et.
lurt|er econom|es ot sca|e ano b|eno|ng ot var|ous types ot yarns |e|peo
|n ac||ev|ng t|e same. ln aoo|t|on to t||s because ot robust oemano,
company |s ab|e to pass t|roug| t|e |ncrease |n t|e pr|ces ot Cotton ano
/arn to |ts customers.
oirect Materials
¯|e o|rect mater|a|s |arge|y |nc|uoe Lyes 8 C|em|ca|s w||c| were
marg|na||y |ower t|an |ast year at C :,¸ crores oue to c|ange |n t|e proouct
m|x ano apprec|at|on ot rupee our|ng t|e year.
Þower cost t||s year |as gone up by :,/ |n abso|ute va|ue ow|ng to t|e
|ncreaseo overa|| vo|ume ot t|e company as we|| as t|ere |as been a
cont|nuous r|se |n pr|ces ot Cas.
Man Þower Cost
¯|e sa|ar|es ano wages ngure tor t|e year |s ||g|er by :,/ |n abso|ute va|ue.
lowever, |anpower cost, as a percentage to sa|es, was constant at :o/
compareo to prev|ous year. lurt|er, |t |s expecteo t|at because ot new
capac|ty aoo|t|on, t||s cost |n proport|on to sa|es w||| reouce |n t|e com|ng
years.

Other Costs
¯|e ot|er costs |ave gone up by 6/ |n abso|ute terms. 3ut, ot|er cost, as
a percentage to sa|es reouceo trom ¸./ to .,/ our|ng t|e current year
|arge|y because ot econom|es ot sca|e.
Operating Margins {Þroñt}
Lur|ng t|e year unoer rev|ew, company's L3l¯LA marg|n |ncreaseo trom
:,/ |n t|e prev|ous year to :, / |n t|e current year. ¯|e major var|ab|e
attr|but|ng to t|e r|se |n t|e operat|ng marg|n was reouct|on |n ot|er cost.
Net lnterest 8 linance Cost
¯|e net |nterest ano nnance cost tor t|e current nnanc|a| year |s C :,¸
crores as aga|nst C :¸6 crores tor t|e prev|ous nnanc|a| year. ¯|e tore|gn
exc|ange ga|ns on account ot lX rate c|anges tor t|e year were C ¸
crores compareo to pront ot C .. crores |n t|e prev|ous year. ln abso|ute
terms, t|e r|se was .¸/, but |nterest cost as a percentage to sa|es rema|ns
constant at ,/. ¯|ere are two major reasons resu|t|ng |n |ncrease |n t|e
cost. l|rst be|ng t|e requ|rement ot ||g|er wor||ng cap|ta| because ot
|ncrease |n raw mater|a| cost ano secono be|ng t|e t|g|t monetary po||cy
t|roug|out t|e year, w||c| |ept t|e |nterest rate upwaro treno|ng. 3ut, on
t|e ot|er s|oe, because ot t|e |mproveo resu|ts ano |ncreaseo |n rat|ng ot
t|e company |n .oo,-:o compareo to prev|ous years, company was ab|e
to better negot|ate w|t| ban|ers.
S|nce more t|an ¸o/ ot your Company's revenue |s oo||ar oenom|nateo,
|t |eoges |ts pos|t|on |n t|e tore|gn exc|ange mar|et. lence, tor a||
oec|s|on ma||ng purposes, t|e oo||ar rate |s trozen. ¯|e account|ng
stanoaro requ|res restatement ot a|| assets ano ||ab|||t|es at t|e exc|ange
rate preva|||ng at t|e eno ot t|e quarter. ¯|eretore, oo||ar oenom|nateo
wor||ng cap|ta| borrow|ngs are re|nstateo every quarter ano a|| pront or
|oss boo|eo |n t|e nnanc|a| statements.
oepreciation
Leprec|at|on as a percentage to sa|es oecreaseo trom ¸/ |n t|e prev|ous
year to ,/ |n t|e current year. Company |ao oone tota| cap|ta| expeno|ture
ot C :8: Crores.
Þroñt Before 1ax {ÞB1} and exceptional items
Het Þront betore tax was C :¸¸ Crores compareo to C ¸. Crores |n t|e
prev|ous year. ¯|e s|gn|ncant |ncrease |s attr|butab|e ma|n|y to |ncreaseo
vo|ume, emc|ency ano ma|nta|n|ng marg|n across t|e proouct ||nes.
Net Þroñt {ÞA1}
Þront atter tax stooo at C :¸¸ Crores |n t|e current nnanc|a| year compareo
to C ¸. Crores |n t|e prev|ous year.
oebt
¯|e oebt ot t|e Company was C :,8:. Crores aga|nst C :,8,: Crores |ast year.
working Capital 8 Liquidity
¯|e net current asset our|ng t|e year |as gone up :./ |n abso|ute terms.
3ut, Company's turnover rat|o |as |mproveo trom ..., to ..¸¸ |n t|e
current year.
BuSlNLSS ÞLvlLw 8 oLvLLOÞMLN1S
oenim
Atter an exce||ent .oo,-:o, Len|m bus|ness |as oone we|| aga|n |n t|e
year .o:o-::. lt posteo |mprovements |n 0n|t sa|es, levenue, L3lL¯A
ano lOCL. ¯|e tota| vo|ume tor Len|m reg|stereo growt| ot 6/ bac|eo
by growt| |n Lxports vo|ume by ¸/
ano t|at |n Lomest|c mar|et by 6/.
¯|ere |as been a cont|nuous enort
to oe-r|s| bus|ness. Hew ||g|-eno
customers |||e lugo 3oss ano C- Star
were acqu|reo ano mar|et s|are was
|ncreaseo |n new |mportant mar|ets
|||e long kong/!apan. ln t|e lno|an
mar|et, mar|et-s|are w|t| 3ranos
|||e Lev|'s, Lee, vrang|er, Þepe etc.
were |ncreaseo. ¯|ere |s a Cont|nu|ng
t|rust on |nnovat|on. Company
|aunc|eo exc|us|ve prooucts ca||eo
'Lxce| Len|m' our|ng t|e year. ¯|ese |ave |e|peo |mprove t|e oes|gn
quot|ent as we|| as marg|ns.
Operat|ona| lmprovements
Len|m bus|ness was ab|e to sweat |ts assets better t|an |ast year. veav|ng,
Sp|nn|ng, Lye|ng ano l|n|s||ng - a|| areas ot operat|ons were run on
better emc|enc|es. On t|e bac| ot |n|t|at|ves |||e ¯Þ| (¯ota| Þreo|ct|ve
|a|ntenance) ano Cont|nuous lmprovement t|e upt|me ot mac||nes
|mproveo. Lue to a major tocus on Qua||ty Contro| ano Þrocess Contro|
t|ere was a oramat|c |mprovement |n qua||ty ano a substant|a| reouct|on
|n generat|on ot waste.
ll ano ll ln|t|at|ves
lnnovat|ve ll ano ll (lnoustry le|at|ons) strateg|es resu|teo |n reouct|on
ot attr|t|on rate 8 absentee|sm, - ma|ntenance ot average age at ¸, years,
g|v|ng c|a||eng|ng |eaoers||p ro|es to yout| trom w|t||n t|e organ|zat|on,
br|ng|ng-|n ta|ent ano t|ereby best pract|ces trom ot|er |noustr|es |||e
automob||e, lntrastructure etc.
Shirting labrics
S||rt|ng tabr|c |n terms ot vo|ume grew
by .,/ compareo to |ast year ano by .¸/
|n terms ot sa|es. ¯|ere |s a ,,/ growt|
|n sa|es |n 3ranos labr|c leta|| bus|ness.
0S mar|et cont|nues to contr|bute |n
s||rt|ng export bus|ness ano |av|ng /o/
growt| ot more t|an ¸o/ |n t|e current
nnanc|a| year. ¯o meet t|e new oemano,
company |s target|ng to |ncrease t|e
capac|ty to ,.¸ mn metre per mont|
trom t|e t||ro quarter ot t|e next year.
¯|e exports |n vo|ume grew by a|most
.,/, w|ereas t|e vo|ume |n oomest|c mar|et grew by :o/. Company |as
lmproveo tocus |n ||g|er contr|but|ng |ar|et ot 3ranos ano leta|| t|roug|
oebott|enec||ng capac|t|es to proouce sma|| |engt| oroers. Company
|aunc|eo extens|ve range ot women's wear tabr|c. ln t||s segment Severa|
lnternat|ona| 3ranos 8 leta||ers are p|ann|ng to s||tt t|e|r sourc|ng
away trom C||na 8 |oo||ng tor stab|e 8 re||ab|e venoor source. lno|a |s
natura| c|o|ce as next oest|nat|on tor sourc|ng oue to Cotton aovantage.
leta|||ng t|e s||rt|ng tabr|cs unoer t|e brano name ot °Arv|noº emergeo
successtu||y ano |as openeo more t|an :ooo reta|| out|ets. ¯|e out|oo|
tor S||rt|ng tabr|c bus|ness cont|nues to rema|n pos|t|ve.
earment Operations
S||rts Sa|es |n va|ue terms grew by :,/ w|ereas !eans garments sa|es
reouceo by:¸/ w|ere |n vo|ume terms t|ere |s reouct|on ot :6/ ano
0
10
20
30
40
50
60
80
85
90
95
100
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡

,¸/ respect|ve|y. kn|ts garments te|| by ¸:/ by vo|ume ano ,6/ |n terms
ot va|ue. Company |as c|oseo one ot |ts kn|ts garment|ng p|ant ow|ng to
|ts consc|ous oec|s|on ot t|e management to |mprove t|e proouct|v|ty,
prontab|||ty ano return on cap|ta| emp|oyeo.
Lxchange Þate
¯|e lupee w||c| |ao apprec|ateo to ,,.:8 |n ear|y Apr|| .o:o rema|neo
vo|at||e ano genera||y oeprec|ateo to ,,.,, by eno ot |ay .o:o. Later
|t apprec|ateo to ,¸.,, by October .o:o. S|nce t|en |t conso||oateo
between ,,..o 8 ,6.o¸ on a broaoer range 8 between ,,.¸¸ 8 ,¸.:o on a
rat|er narrow range. ¯|e Company |ao ta|en torwaro cover on net oo||ar
exposure ano t|e average exc|ange rate tor t|e ent|re year was |n range ot
C ,8.oo to a 0S oo||ar.
SuBSlolAÞlLS
Arvind Lifestyle Brands Limited 8 Arvind Þetail Limited:
Arvind Lifestyle Brands Limited
¯|e year .o:o-:: was a m||estone year tor 3ranoeo Appare| bus|ness w||c|
recoroeo sa|es ot C ,.. crores aga|nst a sa|e ot C .¸¸ crores |n t|e prev|ous
nnanc|a| year c|oc||ng a growt| ot 6,/. ÞA¯ ot t|e company |as grown by
,oo/ our|ng t|e year ano return on cap|ta| emp|oyeo |s :,.¸/.
Arrow ano l|y|ng mac||ne cont|nueo |ts upwaro journey by grow|ng at
¸:/ ano ¸,/ respect|ve|y. Cant, t|e br|oge to |uxury brano s|own anot|er
gooo year w|t| a growt| ot more t|an :oo/. 0S Þo|o ano l7OL t|e two
branos |aunc|eo |ast year |as s|own a tremenoous|y tast ano rece|veo
a gooo mar|et teeobac|. Lur|ng t|e year, t|e Company successtu||y
|aunc|eo ano pos|t|oneo yet anot|er brano °Lnger|eº.
Arvind Þetail Limited
¯|e reta|| bus|ness |ao anot|er gooo year w|t| sa|es ot C ¸,, crores post|ng
a growt| ot ,o/ compareo to |ast nnanc|a| year. |ega-|art maoe rap|o
progress |n t|e current year to emerge as t|e |eao|ng va|ue leta|| p|ayer |n
t|e country. Current|y |ega-|art |s operat|ng w|t| a reta|| space ot 6..¸.
|a|| sq. tt. compareo to ,.¸ |a|| sq. tt. |ast year w|t| .o, sma|| tormat stores
ano 6 |arge tormat stores.
Arvind Þroducts Limited
Arv|no Þrooucts L|m|teo (AÞL) reg|stereo revenue growt| ot ¸o/ ano
operat|ng pront grew by ¸/. Company maoe certa|n c|anges |n t|e one
ot |ts p|ant so t|at we can |ano|e a|| Hon yarn oyeo tabr|cs (top we|g|t
8 3ottom we|g|t tabr|cs) |n t||s p|ant, rat|er t|an on|y 3ottom we|g|t
tabr|cs. ¯||s nex|b|||ty w||| |e|p |mmense|y |n max|m|z|ng proouct|v|ty,
rea||zat|on tor t|e p|ant ano to |mprove t|e bottom-||ne. ¯|e major
customers |n Lxports mar|et are 3anana lepub||c, Þo|o la|p| Lauren, Lo|e
3auer, Lano eno, |ar|s 8 Spencer, C8A, L|ese|, Cortene|, 3ugat|, A||ers
etc. ¯|e vo||es L|v|s|on ot t|e Company |s engageo |n manutactur|ng ||g|
qua||ty Cotton ano b|enoeo vo||es. ¯|e Company enjoys a un|que pos|t|on
|n t|e .x. rub|a segment ano cont|nues |ts |eaoers||p |n terms ot qua||ty
ano quant|ty, w|t| a major ,o/ ot |ar|et s|are w|t||n |ts to|o.
Anup Lngineering Limited
Anup Lng|neer|ng L|m|teo |s engageo |n eng|neer|ng ano tabr|cat|on
bus|ness ||steo on A|meoabao Stoc| Lxc|ange. ¯|e Company's revenue
te|| by ./ ano L3lL¯A te|| by 6o/ |arge|y because ot t|me overruns ano |ac|
ot proouct o|vers|ncat|on.
Ou1LOOk
Atter be|ng |ars||y battereo by recess|on |n t|e g|oba| mar|ets ano
currency vo|at|||ty |n l/.oo,, creo|t pron|e ot t|e company |mproveo ano
expecteo to turt|er |mprove w|t| rev|va| |n t|e oomest|c oemano ano s|gns
ot |mprovement |n t|e g|oba| mar|ets. lowever, apprec|at|on ot rupee
ano s|gn|ncant r|se |n cotton pr|ces ra|se concerns on t|e prontab|||ty.
lmprovement |n proouct|on across proouct ||nes |as been seen
t|roug|out t|e nnanc|a| year .o:o-:: ano w|t| t|e |ntroouct|on ot
¯ec|no|ogy 0pgraoat|on luno Sc|eme (¯0lS), capac|ty aoo|t|ons/
mooern|zat|on w||| |e|p support t||s surge |n t|e oemano. ln aoo|t|on, t||s
w||| turt|er |e|p company ot |eep |ts overa|| borrow|ng cost unoer contro|
v|ew|ng t|e current ||g|er |nterest cost.
Company |ao so|o some parce| ot |ano our|ng t|e current nnanc|a|
year ano expecteo to rea||ze turt|er |n t|e com|ng years. ¯|e recent
oeve|opment ot partner|ng ¯ata lous|ng unoer ¸o.¸o !v tor oeve|op|ng
|ntegrateo towns||p |e|p company |n |mprov|ng t|e cap|ta| structure ano
return on cap|ta| emp|oyeo ano aoo substant|a| va|ue tor t|e s|are|o|oer.
v|ew|ng t|e surge |n oemano w|t| |ncrease |n operat|ng marg|n,
|ntroouct|on ot ¯0lS ano un|oc||ng va|ue t|roug| sa|e ot |ano ano s|ar|ng
pront out ot oeve|opment, company p|ans to expano |ts capac|ty across
t|e proouct ||ne |eep|ng |n m|no t|e o|vers|ncat|on ot t|e proouct pron|e.
Company a|so p|ans to steao||y |nvest |n t|e two tu||y owneo subs|o|ar|es
Arv|no L|testy|e 3ranos L|m|teo ano Arv|no leta|| L|m|teo, w||c| s|ows
comb|neo growt| ot more t|an ¸¸/ trom |ast two years. Company's recent
move |n t|e ¯ec|n|ca| ¯ext||e/Aovance |ater|a| w||| |e|p |t to o|vers|ty |ts
proouct portto||o ano cater t|e more stab|e |noustr|a| text||e mar|et.

Strategy and Þrogrammes for °Corµorate Soclal
Þesµonslblllty" zo¡o-¡¡
¯|e |oea ot Corporate Soc|a| lespons|b|||ty (CSl) |as attracteo a w|oe
attent|on s|nce |ts |ncept|on |n t|e ear|y :,¸os ano eventua||y |t |as touno
a s|gn|ncant p|ace |n t|e nerves ano ve|ns ot every corporate. Arv|no
L|m|teo |as been |eep|ng pace w|t| soc|a| oeve|opment aspects tor
near|y 8 oecaoes ano gave |t a more structureo s|ape |n t|e year :,,8,
w|t| estab||s||ng Harottam La|b|a| lura| Leve|opment luno (HLlLl) ano
Strateg|c le|p A|||ance tor le||et to L|stresseo Areas (SlAlLA) |n t|e year
:,,¸.
SHAÞoA 1rust
Arv|no t|roug| SlAlLA ¯rust, |as been pers|stent|y wor||ng tor t|e
oeve|opment ot urban poor |n t|e c|ty ot A|meoabao. lt |as been observeo
t|at urban poor are genera||y over|oo|eo cons|oer|ng t|e great oea| ot
econom|c opportun|t|es ava||ab|e |n t|e c|ty. 3ut SlAlLA unoerstanos
t|at t|e cono|t|ons ot urban poor are as appa|||ng as t|e rura| poor ano
neeos s|m||ar attent|on ano strateg|es to overcome. Lur|ng |ts |n|t|a|
p|ase ot operat|on, SlAlLA tocuseo on S|um 0pgraoat|on program,
|n assoc|at|on w|t| t|e A|meoabao |un|c|pa| Corporat|on (A|C) ano
wor|eo tor organ|s|ng a|| bas|c |ntrastructure tac|||t|es |||e ora|nage, to||ets
ano water |n Sanjay Hagar S|um, w||c| oramat|ca||y transtormeo t|e
||ves ot peop|e. SlAlLA, a|so s|mu|taneous|y wor|eo |n partners||p w|t|
pr|vate ano pub||c |ea|t| care centers tor prov|o|ng meo|ca| care serv|ces
tor t|e peop|e w|o cou|o not anoro any |ea|t| serv|ces |n t|e c|ty.
At present, SlAlLA |s act|ve|y |nvo|veo |n |mprov|ng t|e eoucat|on at
A|meoabao |un|c|pa| Sc|oo|s, w|ere stuoents suner acute|y because
ot |ac| ot support|ve |ntrastructure ano t|e teac||ng |earn|ng resources.
SlAlLA starteo 'eyanda - the lountain of knowledge' |n t|e year
.oo6 ano s|nce t|en |t |as touc|eo t|e ||ves ot :¸oo stuoents, many ot
t|em |ave ac||eveo unpreceoenteo success |n a|| t|e|r acaoem|cs.
At t|e tunoamenta| |eve|, t|e ¯rust |s |nvo|veo |n teac||ng subjects |||e
Computer usage, Lng||s| ano |at|emat|cs, cons|oer|ng t|at a souno
|now|eoge |n t|ese t|ree ne|os wou|o become a p|||ar ot success tor
a|| t|e asp|r|ng stuoents ot stanoaro v, vl ano vll. ¯|e ¯rust |as set up
tec|n|ca||y aovanceo State ot Art Computer Labs |n t|ree mun|c|pa|
sc|oo|s tor prepar|ng stuoents tor tac|ng t|e oemanos ot our lnoustry
or|ven economy. lowever, t|e ¯rust cont|nues to support t|e stuoents
even atter t|e comp|et|on ot t|e|r pr|mary eoucat|on. ¯|e ¯rust
|as a nxeo mec|an|sm to support stuoents' eoucat|on unt|| t|ey are
econom|ca||y |noepenoent, w|||e ta||ng t|em t|roug| o|nerent |eve|s ot
|nst|tut|ons, w||c| ma|n|y |nc|uoes, Seconoary Sc|oo|, l|g|er Seconoary
Sc|oo|, Co||ege Loucat|on ano vocat|ona| ¯ra|n|ng, nna||y ensur|ng a job
p|acement. ¯||s |s a un|que |n|t|at|ve t|at t|e company |as |n|t|ateo. ln t|e
year .o:o-.o:: t|e ¯rust |as over :ooo stuoents enro||eo, ,¸¸ |n pr|mary
ano ,, |n seconoary sect|ons. ln t|e year .o::-.o:., t|e ¯rust est|mates to
wor| w|t| about :.oo stuoents.
NLÞol
HLlLl |s ma|n|y respons|b|e tor rura| oeve|opment |n t|e state ot Cujarat
ano wor|s very emc|ent|y w|t| rura| poor tor t|e|r upgraoat|on ano
oeve|opment. HLlLl m|nute|y observeo ano oeep|y te|t t|at |n a country
|||e lno|a, w|oows neeo spec|a| attent|on ano care, as t|e soc|a| ano
cu|tura| parao|gms oo not support t|e|r respectab|e surv|va|. ln oroer to
accomp||s| v|oows neeos ano requ|rements, t|e ¯rust c|ose|y wor|s
w|t| Covernment Agenc|es ano tac|||tates t|e enect|ve ano proo|g|ous
|mp|ementat|on ot v|oows Lntrepreneurs||p programs. ¯|e ¯rust a|so
wor|s tor sett|ng up 3|o-gas p|ants tor rura| tam|||es.
At present, t|e ¯rust, t|roug| |ts Lntrepreneurs||p Leve|opment
Þrogrammes, |as penetrateo |ts operat|ons |n :, o|str|cts ot Cujarat
ano |as tra|neo near|y :o,ooo w|oows |n |ast , years. ¯|e operat|ona|
p|||osop|y ot t|e ¯rust oea|s not on|y w|t| oeve|op|ng o|nerent s||||s sets
amongst w|oows but a|so teac|es t|em bas|c management pr|nc|pa|s,
w||c| |e|p t|em to |oent|ty t|e mar|et segment, target customers, boo|
|eep|ng, cost|ng ot t|e prooucts ano proouct se|ect|on, w||c| |e|p t|em
y|e|o a |ong term return on |nvestment.
ln aoo|t|on to t||s, t|e ¯rust |as a|so wor|eo cont|nuous|y tor llv/
AlLS contro| unoer Hat|ona| A|os Contro| Þrogram (HACÞ). ¯||s |as
broug|t remar|ab|e c|ange |n t|e pract|ces ano be|av|our ot t|e |ey
popu|at|on group tor llv/AlLS contro|. ln ClAHCL project, part|c|patory
commun|cat|on |n|t|ateo tor |mprov|ng access to pub||c |ea|t|care
serv|ces tor rura| commun|t|es |n k|eobra|ma ta|u|a. ln oroer to torm
a nrm strategy tor successtu| |mp|ementat|on ot t||s program t|e ¯rust
estab||s|es o|scuss|on w|t| As|a wor|ers, commun|ty women, Þr|mary
lea|t| Centre Stan, |eo|ca| Omcers ano L|str|ct |eve| Aom|n|strators. As a
resu|tant, t||s serv|ce |as been successtu||y ta|en to .. v|||ages ot , pr|mary
lea|t| Centers |n k|eobra|ma ¯a|u|a ot Cujarat.
A|so, t|e HLlLl |e|peo |n upgrao|ng t|e |ntrastructure |n a rura| sc|oo|.
¯|e sc|oo| was s|ort ot space tor teac||ng t|e grow|ng numbers |n t|e
v|||age ano |t was |n a renteo bu||o|ng. ¯o meet t||s cry|ng neeo tor a better
|ntrastructure t|e HLlLl constructeo sc|oo| w|t| lCC structure.
Arv|no L|m|teo, t|roug| SlAlLA 8 HLlLl a|ms ano asp|res to |e|p t|e poor
ano |nt|mate|y tee|s t|at a bus|ness s|ou|o be bot| Socially Þesponsible
ano s|ou|o |ntr|cate|y unoerstanos |ts Social Þesponsibilities.
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡

Audltors` Þeµort
1O 1HL MLMBLÞS Ol AÞvlNo LlMl1Lo
:. ve |ave auo|teo t|e attac|eo 3a|ance S|eet ot AÞvlNo LlMl1Lo
(°t|e Companyº), as at |arc| ¸:, .o::, t|e Þront ano Loss Account
ano a|so t|e Cas| l|ow Statement ot t|e Company tor t|e
year enoeo on t|at oate bot| annexeo t|ereto. ¯|ese nnanc|a|
statements are t|e respons|b|||ty ot t|e Company's management.
Our respons|b|||ty |s to express an op|n|on on t|ese nnanc|a|
statements baseo on our auo|t.
.. ve conoucteo our auo|t |n accoroance w|t| auo|t|ng stanoaros
genera||y accepteo |n lno|a. ¯|ose Stanoaros requ|re t|at we p|an
ano pertorm t|e auo|t to obta|n reasonab|e assurance about
w|et|er t|e nnanc|a| statements are tree ot mater|a| m|sstatement.
An auo|t |nc|uoes exam|n|ng, on a test bas|s, ev|oence support|ng
t|e amounts ano o|sc|osures |n t|e nnanc|a| statements. An
auo|t a|so |nc|uoes assess|ng t|e account|ng pr|nc|p|es useo ano
s|gn|ncant est|mates maoe by management, as we|| as eva|uat|ng t|e
overa|| nnanc|a| statement presentat|on. ve be||eve t|at our auo|t
prov|oes a reasonab|e bas|s tor our op|n|on.
¸. As requ|reo by t|e Compan|es (Auo|tors' leport) Oroer, .oo¸
(°Oroerº) |ssueo by t|e Centra| Covernment ot lno|a |n terms ot
sub-sect|on (,A) ot Sect|on .., ot t|e Compan|es Act, :,¸6, we
enc|ose |n t|e Annexure, a statement on t|e matters spec|neo |n
paragrap|s , ano ¸ ot t|e sa|o Oroer.
,. As ment|oneo |n Hote Ho. :. ot Sc|eou|e :6 |n respect ot ear|y
aoopt|on ot Account|ng Stanoaro (AS) ¸o on 'l|nanc|a|
lnstruments. lecogn|t|on ano |easurement' ano L|m|teo rev|s|on
ar|s|ng out ot |t |n ot|er Account|ng Stanoaros, |ssueo by t|e
lnst|tute ot C|artereo Accountants ot lno|a, t|e Company |as
measureo a|| |ts l|nanc|a| Assets ano L|ab|||t|es at t|e|r respect|ve
la|r va|ues or at Amort|seo Cost. Accoro|ng|y, Account|ng Stanoaro
(AS) :¸ on 'Account|ng tor lnvestments' ano Account|ng Stanoaro
(AS) :: on '¯|e Lnects ot C|anges |n lore|gn Lxc|ange lates' |ave
been to||oweo on|y tor t|ose transact|ons w||c| are not w|t||n t|e
scope ot Account|ng Stanoaro (AS) -¸o. lao t|e Company to||oweo
(AS) :: ano (AS) :¸ |n t|e|r ent|rety, t|e carry|ng amount ot
lnvestments, Secureo Loans ano 0nsecureo Loans wou|o |ave been
||g|er by C ..:, Crores, C ..,: Crores ano C ¸.o¸ Crores respect|ve|y
ano carry|ng va|ue ot leoge leserve wou|o |ave been |ower by
C ¸:.8, Crores respect|ve|y.
¸. lurt|er to our comments |n t|e Annexure reterreo to above, we
report t|at.
|) ve |ave obta|neo a|| t|e |ntormat|on ano exp|anat|ons,
w||c| to t|e best ot our |now|eoge ano be||et were necessary
tor t|e purposes ot our auo|t,
||) ln our op|n|on, proper boo|s ot account as requ|reo by |aw
|ave been |ept by t|e Company so tar as appears trom our
exam|nat|on ot t|ose boo|s,
|||) ¯|e 3a|ance S|eet, Þront ano Loss Account ano Cas| l|ow
Statement oea|t w|t| by t||s report are |n agreement w|t| t|e
boo|s ot account,
|v) ln our op|n|on, t|e 3a|ance S|eet, Þront 8 Loss Account ano
Cas| l|ow Statement oea|t w|t| by t||s report comp|y w|t| t|e
app||cab|e account|ng stanoaros reterreo to |n sub-sect|on
(¸C) ot Sect|on .:: ot t|e Compan|es Act, :,¸6 ano Account|ng
Stanoaro (AS) ¸o on 'l|nanc|a| lnstruments. lecogn|t|on ano
|easurement' ano L|m|teo rev|s|on ar|s|ng out ot |t |n ot|er
Account|ng Stanoaro, |ssueo by t|e lnst|tute ot C|artereo
Accountants ot lno|a (lCAl) as ment|oneo |n paragrap| , above,
v) On t|e bas|s ot wr|tten representat|ons rece|veo trom t|e
o|rectors, as on ¸:st |arc|, .o:: ano ta|en on recoro by t|e
3oaro ot L|rectors, we report t|at none ot t|e o|rectors |s
o|squa||neo as on ¸:st |arc|, .o:: trom be|ng appo|nteo as
a o|rector |n terms ot c|ause (g) ot sub-sect|on (:) ot Sect|on
.,, ot t|e Compan|es Act, :,¸6,
v|) ln our op|n|on ano to t|e best ot our |ntormat|on ano
accoro|ng to t|e exp|anat|ons g|ven to us, t|e sa|o accounts
g|ve t|e |ntormat|on requ|reo by t|e Compan|es Act, :,¸6,
|n t|e manner so requ|reo ano g|ve a true ano ta|r v|ew
|n contorm|ty w|t| t|e account|ng pr|nc|p|es genera||y
accepteo |n lno|a.
(a) ln t|e case ot t|e 3a|ance S|eet, ot t|e state ot ana|rs
ot t|e Company as at ¸:st |arc|, .o::,
(b) ln t|e case ot t|e Þront ano Loss Account, ot t|e pront
tor t|e year enoeo on t|at oate, ano
(c) ln t|e case ot Cas| l|ow Statement, ot t|e cas| nows
tor t|e year enoeo on t|at oate.
lor SOÞAB S. LNelNLLÞ 8 CO.
l|rm leg|strat|on Ho. ::o,:,v
C|artereo Accountants
CA. N. o. ANkLLSAÞlA
Þartner
A|meoabao, |ay .o, .o:: |embers||p Ho. :o.¸o
Annexure to the Audltors` Þeµort
Þe: AÞvlNo LlMl1Lo
leterreo to |n Þaragrap| ¸ ot our leport ot even oate,
(|) (a) ¯|e Company |as genera||y ma|nta|neo proper recoros s|ow|ng
tu|| part|cu|ars, |nc|uo|ng quant|tat|ve oeta||s ano s|tuat|on ot |ts
nxeo assets.
(b) As exp|a|neo to us, t|e nxeo assets |ave been p|ys|ca||y ver|neo
by t|e management our|ng t|e year |n accoroance w|t| a p|aseo
programme ot ver|ncat|on, w||c| |n our op|n|on prov|oes tor
p|ys|ca| ver|ncat|on ot a|| t|e nxeo assets at reasonab|e |nterva|s.
ve are |ntormeo t|at no mater|a| o|screpanc|es were not|ceo
on suc| ver|ncat|on.
(c) ln our op|n|on ano as per t|e |ntormat|on ano exp|anat|ons
g|ven to us, t|e Company |as not maoe any substant|a| o|sposa|
ot nxeo assets our|ng t|e year ano go|ng concern status ot t|e
Company |s not anecteo.
(||) (a) As exp|a|neo to us, t|e |nventory |as been p|ys|ca||y ver|neo
our|ng t|e year by t|e management. ln our op|n|on, t|e
trequency ot ver|ncat|on |s reasonab|e.
(b) ln our op|n|on ano accoro|ng to t|e |ntormat|on ano
exp|anat|ons g|ven to us, t|e proceoures ot p|ys|ca| ver|ncat|on
ot |nventory to||oweo by t|e management are reasonab|e ano
aoequate |n re|at|on to t|e s|ze ot t|e Company ano t|e nature
ot |ts bus|ness.
(c) ¯|e Company |s ma|nta|n|ng proper recoros ot |nventory.
As exp|a|neo to us, t|e o|screpanc|es not|ceo on ver|ncat|on
z;
between t|e p|ys|ca| stoc|s ano t|e boo| recoros were not
mater|a| |av|ng regaro to t|e s|ze ot t|e Company, ano t|e same
|ave been proper|y oea|t w|t|.
(|||) ¯|e Company |as not granteo/ta|en any |oans secureo or
unsecureo to/trom Compan|es, nrms or ot|er part|es covereo |n t|e
reg|ster ma|nta|neo unoer Sect|on ¸o: ot t|e Compan|es Act, :,¸6.
Consequent|y, requ|rement ot c|auses (|||, b), (|||, c), (|||, o), (|||, e), (|||, t)
ano (|||, g) ot paragrap| , ot t|e oroer are not app||cab|e.
(|v) ln our op|n|on ano accoro|ng to t|e |ntormat|on ano exp|anat|ons g|ven
to us, t|ere ex|sts an aoequate |nterna| contro| system commensurate
w|t|t|es|zeot t|eCompanyanot|enatureot |tsbus|nessw|t|regaroto
purc|ase ot |nventory, t|xeo assets ano w|t| regaro to t|e sa|e ot gooos
ano serv|ces. Lur|ng t|e course ot our auo|t, we |ave not observeo any
cont|nu|ngta||uretocorrectmajorwea|nesses|n|nterna|contro|s.
(v) ¯o t|e best ot our |now|eoge ano be||et ano accoro|ng to t|e
|ntormat|on ano exp|anat|ons g|ven to us, we are ot t|e op|n|on t|at
t|ere were no contracts or arrangements t|at neeo to be entereo |n
t|e leg|ster ma|nta|neo unoer Sect|on ¸o: ot t|e Compan|es Act, :,¸6.
Consequent|y, requ|rement ot c|auses (v, a) ano (v, b) ot paragrap| , ot
t|e oroer are not app||cab|e.
(v|) ln our op|n|on ano accoro|ng to t|e |ntormat|on ano exp|anat|ons g|ven
to us, t|e Company |as comp||eo w|t| t|e prov|s|ons ot Sect|ons ¸8A
ano ¸8AA or any ot|er re|evant prov|s|ons ot t|e Act ano ru|es trameo
t|ereunoer. Ho oroer |as been passeo by t|e Company Law 3oaro or
Hat|ona| Company Law ¯r|buna| or leserve 3an| ot lno|a or any Court
or any ot|er ¯r|buna|.
(v||) ¯|e Company |as an |nterna| auo|t system, w||c| |n our op|n|on, |s
commensuratew|t|t|es|zeott|eCompanyanot|enatureot|tsbus|ness.
(v|||) ve |ave broao|y rev|eweo t|e boo|s ot accounts re|at|ng to mater|a|s,
|abour ano ot|er |tems ot cost ma|nta|neo by t|e Company pursuant to
t|e lu|es maoe by t|e Centra| Covernment tor t|e ma|ntenance ot cost
recoros unoer Sect|on .o, (:) (o) ot t|e Compan|es Act, :,¸6 ano we
are ot t|e op|n|on t|at pr|ma tac|e t|e prescr|beo accounts ano recoros
|ave been maoe ano ma|nta|neo. ve |ave not |owever maoe a oeta||eo
exam|nat|on ot t|ese recoros w|t| a v|ew to oeterm|ne w|et|er t|ey
are accurate ano comp|ete.
(|x) (a) ¯|e Company |s genera||y regu|ar |n oepos|t|ng w|t| appropr|ate
aut|or|t|es uno|sputeo statutory oues |nc|uo|ng Þrov|oent
luno, lnvestor Loucat|on ano Þrotect|on luno, Lmp|oyees'
State lnsurance, lncome ¯ax, Sa|es ¯ax, vea|t| ¯ax, Serv|ce ¯ax,
Custom Luty, Lxc|se Luty, Cess ano ot|er mater|a| statutory
oues app||cab|e to |t.
lurt|er s|nce t|e Centra| Covernment |as t||| oate not prescr|beo
t|eamount ot cess payab|eunoer Sect|on,,:Aot t|eCompan|es
Act,:,¸6,wearenot|napos|t|ontocommentupont|eregu|ar|tyor
ot|erw|seott|eCompany|noepos|t|ngt|esame.
(b) ¯|ere are no uno|sputeo amounts outstano|ng as at |arc| ¸:,
.o:: tor a per|oo ot more t|an s|x mont|s trom t|e oate t|ey
became payab|e.
(c) lo||ow|ng amounts |ave not been oepos|teo as on |arc| ¸:, .o::
on account ot any o|spute .
Nature of
Statute
Nature of
the dues
C in
Crores
Þeriod to which the
amount relates
lorum where
matter is pending
Sa|es ¯ax Act



Sa|es ¯ax



,.:¸ :,,8-:,,,, .oo.-.oo¸,
.oo¸-.oo,, .oo,-.oo¸,
.oo¸-.oo6
l|g| Court
o.o¸ .oo.-.oo¸, .oo¸-.oo, Appe||ate ¯r|buna|
..¸8 .oo6-.oo, !CC¯ Appea| (vA¯)
:.oo .oo6-.oo, !CC¯ Appea| (CS¯)
Centra| Lxc|se Act Lxc|se Luty ,.,: .ooo-.oo:, .oo:-.oo. l|g| Court
¸.6o .ooo-.oo:, .oo:-.oo.,
.oo.-.oo¸, .oo¸-.oo,,
.oo,-.oo¸, .oo¸-.oo6,
.oo8-.oo,
CLS¯A¯
Nature of
Statute
Nature of
the dues
C in
Crores
Þeriod to which the
amount relates
lorum where
matter is pending
Customs Act Custom Luty o.o¸ .oo¸-.oo6, .oo6-.oo,,
.oo,-.oo8
!o|nt Comm|ss|oner
l|nance Act Serv|ce ¯ax o.,, .oo,-.oo¸, .oo¸-.oo6 !o|nt Comm|ss|oner






o.6: .oo,-.oo¸, .oo¸-.oo6,
.oo6-.oo,, .oo,-.oo8
Aoo|t|ona|
Comm|ss|oner
o.o¸ .oo¸-.oo6 Ass|stant
Comm|ss|oner
o... .oo,-.oo¸, .oo¸-.oo6,
.oo6-.oo,, .oo,-.oo8,
.oo,-.o:o
CLS¯A¯
lncome ¯ax Act lr|nge
3enent ¯ax
o.,. .oo¸-.oo6 l¯A¯
o.:¸ .oo6-.oo, Cl¯ Appea|
(x) ¯|e Company |as ne|t|er any accumu|ateo |osses nor |as |ncurreo
any cas| |osses our|ng t|e nnanc|a| year covereo by our auo|t ano |n t|e
|mmeo|ate|y preceo|ng nnanc|a| year.
(x|) ln our op|n|on ano accoro|ng to t|e |ntormat|on ano exp|anat|ons g|ven
to us, t|e Company |as not oetau|teo |n repayment ot oues to nnanc|a|
|nst|tut|ons, ban|s or oebenture |o|oers.
(x||) ¯|e Company |as not granteo any |oans ano aovances on t|e bas|s ot
secur|ty by way ot p|eoge ot s|ares, oebentures ano ot|er secur|t|es.
(x|||) ¯|e Company |s not a c||t tuno or a n|o||/mutua| benent tuno/soc|ety.
¯|eretore, t|e prov|s|ons ot c|ause (x|||) ot paragrap| , ot t|e oroer are
not app||cab|e.
(x|v) ln our op|n|on, t|e Company |s not oea||ng |n or trao|ng |n s|ares,
secur|t|es, oebentures ano ot|er |nvestments. ¯|eretore, t|e
prov|s|ons ot c|ause (x|v) ot paragrap| , ot t|e oroer are not app||cab|e.
(xv) ¯o t|e best ot our |now|eoge ano be||et ano accoro|ng to t|e
|ntormat|on ano exp|anat|ons g|ven to us, |n our op|n|on, t|e terms ano
cono|t|ons on w||c| t|e Company |as g|ven guarantees tor |oans ta|en
by ot|ers trom ban|s or nnanc|a| lnst|tut|ons are not prejuo|c|a| to t|e
|nterest ot t|e Company.
(xv|) ¯o t|e best ot our |now|eoge ano be||et ano accoro|ng to t|e
|ntormat|on ano exp|anat|ons g|ven to us, |n our op|n|on, t|e term |oans
obta|neo our|ng t|e year were, _aX\P UPRXT, app||eo by t|e Company
tor t|e purpose tor w||c| t|ey were obta|neo, ot|er t|an temporary
oep|oyment peno|ng app||cat|on.
(xv||) Accoro|ng to t|e |ntormat|on ano exp|anat|ons g|ven to us ano on an
overa|| exam|nat|on ot t|e ba|ance s|eet ot t|e Company, we report
t|at tunos ra|seo on s|ort-term bas|s |ave not _aX\PUPRXT, been useo
our|ng t|e year tor |ong-term |nvestments.
(xv|||) Lur|ng t|e year, t|e Company |as not maoe any preterent|a|
a||otment ot s|ares to persons covereo |n t|e reg|ster ma|nta|neo
unoer Sect|on ¸o: ot t|e Act except .,oo,¸o,ooo equ|ty s|ares
|ave been |ssueo to Þromoters/Þromoter Croup on convers|on ot
warrants. Accoro|ng to t|e |ntormat|on ano exp|anat|ons g|ven to
us, t|e pr|ce at w||c| t|e s|ares |ave been |ssueo |s not prejuo|c|a|
to t|e |nterest ot t|e Company.
(x|x) Accoro|ng to t|e |ntormat|on ano exp|anat|ons g|ven to us ano t|e
recoros exam|neo by us, t|e Company |as not |ssueo any Secureo
Lebentures our|ng t|e year.
(xx) ¯|e Company |as not ra|seo any money by pub||c |ssue our|ng t|e year.
(x|) 3aseo upon t|e auo|t proceoure pertormeo by us ano as per t|e
|ntormat|on ano exp|anat|ons g|ven to us, we report t|at no trauo on
or by t|e Company |as been not|ceo or reporteo our|ng t|e course
ot our auo|t.
lor SOÞAB S. LNelNLLÞ 8 CO.
l|rm leg|strat|on Ho. ::o,:,v
C|artereo Accountants
CA. N. o. ANkLLSAÞlA
Þartner
A|meoabao, |ay .o, .o:: |embers||p Ho. :o.¸o
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
z8
8alance Sheet as at ¸¡st Varch, zo¡¡
As µer our reµort attached SAN1AY S. LALBHAl Chalrman 8 Vanaglng Olrector
lor SOÞAB S. LNelNLLÞ 8 CO.
llrm Þeglstratlon No. ¡¡oµ¡;W
Chartered Accountants
1AYLSH k. SHAH Olrector 8 Chlef llnanclal Ohcer
CA. N. o. ANkLLSAÞlA
Þartner
Ahmedabad, Vay zo, zo¡¡ Þ. v. BHlMANl Comµany Secretary
C |n Crores C |n Crores
Sc|eou|e As at
¿v.o¿.zovv
As at
¸:.o¸..o:o
SOuÞCLS Ol luNoS
Shareholders' lunds
S|are Cap|ta| : zyq.qo .¸,.¸¸
leserves ano Surp|us . vyqv.vv ::8o.,¸
vypy.yv :,.o.oo
Loan lunds
Secureo Loans ¸ vy6¿.z¿ :,.8.,¸
0nsecureo Loans , q8.8p :,:.8¸
v8vz.vz :8,o.¸8
oeferred 1ax Liability (Hote Ho. .¸) vz.8z :..8.
1otal ¿6zo.qy ¸¸o¸.,o
AÞÞLlCA1lON Ol luNoS
lixed Assets ¸
Cross 3|oc| ¿vyz.zz ¸oo..,¸
Less. Leprec|at|on vvyo.z6 :o8,.¸,
Het 3|oc| zoov.p6 :,:8.::
Cap|ta| vor|-|n-Þrogress vqz.z8 ,6.86
zvqq.zq :,6,.,,
lnvestments 6 ¿op.qo ¸oo..,
loreign Currency Monetary ltem 1ranslation
oiherence Account (Hote Ho. :¸) {o.yy} (:.o6)
Current Assets, Loans 8 Advances ,
lnventor|es 6pp.v6 ,¸..oo
Lano |e|o tor Sa|e ¿q.yo o.oo
Sunory Lebtors y6¿.6¿ ,.,.:6
Cas| ano 3an| 3a|ances zp.op ,¸.:,
Ot|er Current Assets voo.yz ,¸.,o
Loans ano Aovances ¿yp.vy ,8,.8o
v8o6.oy :,8o.oo
Less: Current Liabilities and Þrovisions 8
L|ab|||t|es 6zy.6p ,¸¸.,.
Þrov|s|ons vo.8z ,.¸8
6¿8.yv ,,o.8o
Net Current Assets vv6y.y6 :o¸,..o
Miscellaneous Lxpenditure , o.oo o.oo
(¯o t|e extent not wr|tten on)
1otal ¿6zo.qy ¸¸o¸.,o
Hotes lorm|ng Þart ot Accounts :6
zp
Þroñt and Loss Account for the year ended on ¸¡st Varch, zo¡¡
As µer our reµort attached SAN1AY S. LALBHAl Chalrman 8 Vanaglng Olrector
lor SOÞAB S. LNelNLLÞ 8 CO.
llrm Þeglstratlon No. ¡¡oµ¡;W
Chartered Accountants
1AYLSH k. SHAH Olrector 8 Chlef llnanclal Ohcer
CA. N. o. ANkLLSAÞlA
Þartner
Ahmedabad, Vay zo, zo¡¡ Þ. v. BHlMANl Comµany Secretary
C in Crores C |n Crores
Sc|eou|e zovo-zovv .oo,-.o:o
lNCOML :
Sa|es z6oy.6v ..¸,.o,
Less . Lxc|se Luty z.o6 :.6o
z6oy.yy ..¸..,,
Operat|ng lncome :o 8y.6y 6,.,o
Ot|er lncome :: ¿q.yv ::.8¸
zyzy.y¿ .¸.8.,.
LXÞLNSLS :
law |ater|a|s ano Accessor|es Consumeo vzpo.vy ,68.,¸
Þurc|ase ot l|n|s|eo Cooos ¿6.yp ,,.6:
Lmp|oyees' Lmo|uments :. zy¿.po .,o.,o
Ot|ers :¸ yyz.p¿ ,¸:.,¸
lnterest 8 l|nance Costs (Het) :, vpq.yp :¸¸.,,
Leprec|at|on /lmpa|rment ¸ vv6.v6 ::¸.8o
(lncrease)/Lecrease |n Stoc|s :¸ {p¿.yp} :8.,8
zypo.p¿ ..,6.,.
Þroñt before 1ax for the year v¿q.8o ¸..oo
Less . Current ¯ax z6.8q 8.,,
Aoo . |A¯ Creo|t Lnt|t|ement {z6.8q} (8.,,)
Þroñt for the year v¿q.8o ¸..oo
3a|ance as per |ast year's 3a|ance S|eet ¿vq.qz .8..¸,
Less . Aojustment oue to Lemerger o.oo (o.,¸)
¿vq.qz .8:.,:
lnter|m L|v|oeno Þa|o on Þreterence S|ares o.oo (o.,6)
¯ax on lnter|m L|v|oeno o.oo (o.:¸)
¯ransterreo to Cap|ta| leoempt|on leserve o.oo (:,.8o)
¯ransterreo trom Lebenture leoempt|on leserve o.po :..o
qyo.vz ¸:,.,.
3a|ance carr|eo to 3a|ance S|eet qyo.vz ¸:,.,.
Larn|ng Þer S|are C (lace va|ue C :o/-) (Hote Ho. .¸)
- 3as|c y.6q ...,
- L||uteo y.6¿ ..o,
Hotes lorm|ng Þart ot Accounts :6
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
¸o
Cash llow Statement for the year ended on ¸¡st Varch, zo¡¡
{Cin Crores} (C|n Crores)
zovo-vv .oo,-:o
A CASH lLOw lÞOM OÞLÞA1lNe AC1lvl1lLS
Net Þroñt for the year
v¿q.8o ¸..oo
Aojustments tor.
Leprec|at|on/lmpa|rment
vv6.v6 ::¸.8o
letrenc|ment Compensat|on unoer vlS
o.oo (o.:¸)
lnterest lncome
{vy.6q} (¸¸.¸,)
lncome trom lnvestments
{o.yz} (o.:,)
lnterest Lxpenses
vy¿.vp :,¸.,.
Lxc|ange late L|nerence
{y.zv} (:¸.¸:)
Lxc|se outy
o.oo (6.¸:)
l|xeo Assets/Þroject Lxpenses vr|tten On
o.¿¿ o.oo
Þrov|s|on tor 3ao Lebt
o.¿q o.oo
3ao Lebts / Aovances vr|tten On
o.op o.oo
Sunory Leb|ts / Creo|t wr|tten on (Het)
6.vo (o.¸,)
Loss on lnvestments
o.vo o.oo
Þront on Sa|e ot l|xeo Assets
{¿o.vz} zqq.8z (,.,,) .,:.6o
Operating Þroñt before working Capital Changes
¿yp.6z .,¸.6o
vor||ng Cap|ta| C|anges.
C|anges |n lnventor|es
{z8y.qv} (,.¸¸)
C|anges |n ¯raoe lece|vab|es
{v¿p.po} (,:.::)
C|anges |n Ot|er lece|vab|es
{vz.op} (:.,o)
C|anges |n Current L|ab|||t|es
vpy.qv :::.,:
Net Changes in working Capital
{zqv.pp} 6,.¸,
Cash eenerated lrom Operations
v¿y.6¿ ¸¸,.,,
Aovance ¯ax / ¯LS (Het ot lncome ¯ax letuno)
{zy.op} (:o.,:)
Net Cash from Operating Activities
vvz.yq ¸,,.¸6
B Cash llow from lnvesting Activities
Þurc|ase ot l|xeo Assets
{v8o.yy} (6:.,¸)
Sa|e ot l|xeo Assets
vvv.6v ¸¸.,,
C|anges |n lnvestments
{¿.8y} (,.:¸)
C|anges |n Loans 8 Aovances
v¿o.yz (:o.,8)
lncome trom lnvestments
o.yz o.:,
lnterest lncome
vy.6v ¸¸.¸¸
Net Cash llow from lnvesting Activities
y¿.8z (:o.¸¸)
C Cash llow from linancing Activities
lssue ot Lqu|ty S|are Cap|ta|
vq.pv :¸.oo
leoempt|on ot Þreterence S|are Cap|ta|
o.oo (:,.8o)
lssue ot varrants
o.oo ,.¸,
S|are Þrem|um lece|veo
vv.v¿ 6.¸o
lnter|m L|v|oeno on Þreterence S|ares
o.oo (o.,6)
¯ax on lnter|m L|v|oeno
o.oo (o.:¸)
C|anges |n 3orrow|ngs
{y¿.y6} (:¸o.8,)
lnterest Þa|o
{vyz.8p} (:,6.o:)
Net Cash llow from linancing Activities
{zoo.qv} (¸.o.¸o)
Net lncrease[{oecrease} in Cash 8 Cash Lquivalents
{vq.oy} :6.,:
Cas| 8 Cas| Lqu|va|ent at t|e beg|nn|ng ot t|e Þer|oo
q¿.vq .6.8¸
Less . Aojustment oue to Lemerger
o.oo o.,o
Cas| 8 Cas| Lqu|va|ent at t|e beg|nn|ng ot t|e Þer|oo atter oemerger
q¿.vq .6.,¸
Cash and Cash Lquivalent at the end of the Þeriod
zp.op ,¸.:,
Hotes to Cas| l|ow Statement (leter Sc|eou|e :6, Hote Ho. .o)
As µer our reµort attached SAN1AY S. LALBHAl Chalrman 8 Vanaglng Olrector
lor SOÞAB S. LNelNLLÞ 8 CO.
Chartered Accountants
1AYLSH k. SHAH Olrector 8 Chlef llnanclal Ohcer
CA. N. o. ANkLLSAÞlA
Þartner
Ahmedabad, Vay zo, zo¡¡ Þ. v. BHlMANl Comµany Secretary
¸¡
Schedules formlng µart of the Accounts
C in Crores C|n Crores
As at
¿v.o¿.zovv
As at
¸:.o¸..o:o
SCHLouLL 'v': SHAÞL CAÞl1AL
Au1HOÞlSLo
¸6,oo,oo,ooo Lqu|ty S|ares (Þrev|ous /ear
¿6o.oo ¸6o.oo
¸6,oo,oo,ooo) ot C:o/-eac|
,o,oo,ooo Þreterence S|ares (Þrev|ous /ear
po.oo ,o.oo
,o,oo,ooo) ot C:oo/- eac|
qyo.oo ,¸o.oo
lSSuLo 8 SuBSCÞlBLo
Lqul1Y SHAÞLS
.¸,,,,oo,o,: Lqu|ty S|ares (Þrev|ous /ear
zyq.qo .¸:.,8
.¸,:,,,8,,,:) ot C:o/- eac|
ÞAlo uÞ (Hote Ho. ¸)
Lqul1Y SHAÞLS
zyq.qo .¸:.,8
.¸,,¸,,,,:,: Lqu|ty S|ares (Þrev|ous /ear
.¸,:,,,,,¸,:) ot C:o/- eac| tu||y pa|o up
zyq.qo .¸:.,8
Aoo . ,oo S|ares lorte|teo
(Þa|o-up amount ot C ,,¸oo/- (Þrev|ous /ear C ,,¸oo/-)
on torte|teo s|ares)
(ot t|e above s|ares ¸,,,,,,¸o Lqu|ty S|ares |ave
been a||otteo as tu||y pa|o 3onus S|ares (Þrev|ous
/ear ¸,,,,,,¸o Lqu|ty S|ares) by way ot
cap|ta||zat|on ot leserves ano :6,:.,.68 Lqu|ty
s|ares (Þrev|ous /ear :6,:.,.68 Lqu|ty S|ares)
a||otteo as tu||y pa|o |n terms ot sc|eme ot
Ama|gamat|on w|t|out payment be|ng rece|veo |n cas|.)
wAÞÞAN1S
o.oo ,.¸,
HlL varrants (Þrev|ous /ear
.,o.,oo,ooo varrants ot C :¸/-eac|, Þa|o up C ¸.,¸ eac|)
zyq.qo .¸,.¸¸
SCHLouLL 'z' : ÞLSLÞvLS ANo SuÞÞLuS
CAÞl1AL ÞLSLÞvL
As per |ast 3a|ance S|eet z6.6y ¸.¸¸
Aoo . Aoo|t|on our|ng t|e /ear (Hote Ho. ¸) o.o6 .:.¸.
z6.yv .6.6¸
eLNLÞAL ÞLSLÞvL
As per |ast 3a|ance S|eet o.oo o.oo
Aoo . Aoo|t|on our|ng t|e /ear y.yp o.oo
y.yp o.oo
SLCuÞl1lLS ÞÞLMluM
As per |ast 3a|ance S|eet 66z.yy 6,¸.¸¸
Aoo . lece|veo our|ng t|e /ear vv.v¿ 6.¸o
6y¿.68 ,oo.o¸
Less . 0t|||zeo our|ng t|e /ear (Hote Ho. ::) zo.zy ¸,.,8
6y¿.q¿ 66..¸¸
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
¸z
Schedules formlng µart of the Accounts
C in Crores C |n Crores
As at
¿v.o¿.zovv
As at
¸:.o¸..o:o
SCHLouLL 'z' : ÞLSLÞvLS ANo SuÞÞLuS (Conto.) 6y¿.q¿ 66..¸¸
oLBLN1uÞL ÞLoLMÞ1lON ÞLSLÞvL
As per |ast 3a|ance S|eet o.po ..:o
Less . ¯ransterreo to Þront ano Loss Account o.po :..o
o.oo o.,o
CAÞl1AL ÞLoLMÞ1lON ÞLSLÞvL
As per |ast 3a|ance S|eet 6p.yo ,,.,o
Aoo. ¯ransterreo trom Þront ano Loss Account o.oo :,.8o
6p.yo 6,.¸o
ÞLvALuA1lON ÞLSLÞvL
As per |ast 3a|ance S|eet 8o.6y .,.¸.
Aoo . Aoo|t|on our|ng t|e year (Hote Ho. ,) z¿o.p8 ¸6.:¸
¿vv.6y 8o.6,
Less . ¯ranster to Cenera| leserve y.yp o.oo
¿oy.86 8o.6,
HLoeL ÞLSLÞvL (Hote Ho. :.)
As per |ast 3a|ance S|eet ¿¿.zp (:o6.,:)
Aoo . Aoo|t|on our|ng t|e year (Het) {v.qo} :¸,.,o
¿v.8p ¸¸..,
lNvLS1MLN1 ÞLvALuA1lON ÞLSLÞvL (Hote Ho. :.)
As per |ast 3a|ance S|eet {y.y¿} (:o.6,)
Aoo . Aoo|t|on our|ng t|e year y.¿q ¸.::
{z.vp} (,.¸¸)
BALANCL lN ÞÞOll1 8 LOSS ACCOuN1 qyo.vz ¸:,.,.
vyqv.vv ::8o.,¸
SCHLouLL '¿' : SLCuÞLo LOANS (Hote Ho. 6)
oLBLN1uÞLS o.oo o.,o
o.oo o.,o
lÞOM BANkS
Cas| Creo|t ano ot|er tac|||t|es yyy.y¿ ,,6.6.
¯erm Loans yyz.y¿ ,,,.,¸
vyyo.z6 :,,6.¸,
lÞOM llNANClAL lNS1l1u1lONS ANo O1HLÞS zvz.py .¸:..6
zvz.py .¸:..6
vy6¿.z¿ :,.8.,¸
Note : Secured Loans (Hote Ho. :.)
At Amort|zeo Cost vy6¿.z¿ :,.8.,¸
At Or|g|na| Cost vy6y.6q :,¸o.oo
SCHLouLL 'q' : uNSLCuÞLo LOANS
lÞOM BANkS
¯erm Loan o.oo ..6,
Ot|er lac|||t|es z6.y8 ,o.,.
lÞOM llNANClAL lNS1l1u1lONS 8 O1HLÞS q.o6 ¸.¸8
oLlLÞÞLo LLLC1ÞlCl1Y ou1Y v6.6y .,.8¸
lN1LÞ COÞÞOÞA1L oLÞOSl1 v.¿8 ¸¸.¸6
q8.8p :,:.8¸
Note : unsecured Loans (Hote Ho. :.)
At Amort|zeo Cost q8.8p :,:.8¸
At Or|g|na| Cost yv.pz :,¸.6.
Out ot above C ¸,.,, Crores (C :.:.,6 Crores) |s payab|e w|t||n one /ear
¸¸
Schedules formlng µart of the Accounts
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A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
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Schedules formlng µart of the Accounts
Ho. ot S|ares/
Lebentures/
0n|ts
C in crores
As at
¿v.o¿.zovv
C |n crores
As at
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SCHLouLL '6' : lNvLS1MLN1S*
A. NON-1ÞAoL lNvLS1MLN1S - {uNquO1Lo}
{HLLo-1O-MA1uÞl1Y}
eOvLÞNMLN1 SLCuÞl1lLS {C ¿,ooo[-} (C ,8,ooo/-)
,-/ear Hat|ona| Sav|ngs Cert|ncates
(Loogeo w|t| Covernment Aut|or|t|es)
B. 1ÞAoL lNvLS1MLN1S {AvAlLABLL lOÞ SALL}
{i} luLLY ÞAlo Lqul1Y SHAÞLS {quO1Lo}
Atul Limited ¸¸,,.o
p.8o ,.86
(S|ares ot C :o/- eac|)
{ii} luLLY ÞAlo Lqul1Y SHAÞLS {uNquO1Lo}
Ahmedabad Cotton Merchants' Co-operative
Shops and warehouses Society Limited :o {C z,yoo[-} (C .,¸oo/-)
(S|ares ot C :o/- eac|)
eujarat Cloth oealers Co-operative
Shops and warehouses Society Limited :o {C v,ooo[-} (C :,ooo/-)
(S|ares ot C :o/- eac|)
{iii} lNvLS1MLN1 lN 1OlN1 vLN1uÞL
luLLY ÞAlo Lqul1Y SHAÞLS {uNquO1Lo}
Arya Omnitalk wireless Solutions Þrivate Limited :oooooo
v.oo :.oo
(S|ares ot C :o/- eac|)
Arya Omnitalk Þadio 1runking Services Þrivate Limited :oo¸ooo
6.ov 6.o:
(S|ares ot C :o/- eac|)
Arvind Murjani Brands Þrivate Limited 88¸oooo
vz.yy :..,¸
(S|ares ot C :o/- eac|)
(6¸,oo,ooo S|ares a||otteo our|ng t|e prev|ous year)
vl Arvind Brands Þrivate Limited ¸,6668o
y.qy ¸.,,
(S|ares ot C :o/- eac|)
C. lNvLS1MLN1 lN SuBSlolAÞY COMÞANlLS
luLLY ÞAlo Lqul1Y SHAÞLS {uNquO1Lo}
Asman lnvestments Limited ** ,6¸oo
y.6y ,.6¸
(S|ares ot C :o/- eac|)
Syntel 1elecom Limited ¸oooo
o.oy o.o¸
(S|ares ot C :o/- eac|)
Arvind worldwide {M} lnc., Mauritius ** ¸,8,o
o.oo o.oo
(S|ares ot 0S$ :oo eac|)
Arvind worldwide lnc., oelaware ** ¸oo
o.oy o.o,
(S|ares w|t|out par va|ue)
Arvind Overseas {M} Limited, Mauritius .¸8¸:,:
z8.¿z .8.¸.
(S|ares ot |au C:oo/- eac|)
Arvind Spinning Limited 8.,o,,
y.¿p ¸.¸,
(S|ares w|t|out par va|ue)
¸¸
Schedules formlng µart of the Accounts
Ho. ot S|ares/
Lebentures/
0n|ts
C in crores
As at
¿v.o¿.zovv
C |n crores
As at
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SCHLouLL '6' : lNvLS1MLN1S* (Conto.)
Arvind 1extile Mills Limited ¸.oooo
v.y¿ o.¸,
(S|ares ot ¯a|a :o/- eac|)
(.,¸o,ooo s|ares a||oteo our|ng t|e year)
Arvind Accel Limited ¸oooo
o.oy o.o¸
(S|ares ot C :o/- eac|)
Arvind Brands and Þetail Limited {lormerly known as ¸ooooooo
v8p.vo o.o¸
Silverstone Þroperties Limited}
(S|ares ot C ./- eac|, prev|ous year C :o/- eac|)
(Þurc|aseo :,oo,oo,ooo s|ares ano so|o ¸o,ooo s|ares ot
C :o/- eac| our|ng t|e year)
Arvind lnfrastructure Limited ¸oooo
o.oy o.o¸
(S|ares ot C :o/- eac|)
Arvind Þetail Limited o
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(S|ares ot C :o/- eac|)
(So|o .,oo,¸o,ooo s|ares our|ng t|e year)
Arvind Lifestyle Brands Limited o
o.oo :,o.o¸
(S|ares ot C :o/- eac|)
(So|o .,oo,¸o,:oo s|ares our|ng t|e year)
luLLY ÞAlo Lqul1Y SHAÞLS {quO1Lo}
Arvind Þroducts Limited .8¸,:,.
v.66 :..6
(S|ares ot C :o/- eac|)
Anup Lngineering Limited*** ¸ooooo
¿.yo ¸.¸o
(S|ares ot C :oo/- eac|)
luLLY ÞAlo ÞÞLlLÞLNCL SHAÞLS {uNquO1Lo}
Arvind Þroducts Limited :¸¸ooo
o.vq o.:,
:o/ Cumu|at|ve leoeemab|e Þreterence S|ares
(S|ares ot C :o/- eac|)
Arvind Þroducts Limited
:./ Cumu|at|ve leoeemab|e Þreterence S|ares 6oooooo
6y.ov 6¸.o:
(S|ares ot C :oo/- eac|)
o. SHAÞL AÞÞLlCA1lON MONLY
y.y6 :.,¸
¿q¿.vv ¸¸,.oo
Less . Þrov|s|on tor L|m|nut|on |n va|ue ot lnvestment
¿¿.yv ¸¸.,:
1otal
¿op.qo ¸oo..,
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At cost pr|ce
vq.p6 ,.6.
At mar|et pr|ce
vq.p6 ,.6.
Aggregate va|ue ot unquoteo lnvestments
At cost pr|ce
¿z8.vy ¸.,.¸8
* Þrev|ous|y c|ass|neo as Long ¯erm lnvestments ano va|ueo at
Cost un|ess ot|erw|se stateo.
** leva|ueo ano aojusteo |n .oo:-.oo. as per t|e Sc|eme ot
Arrangement ano t|e o|rect|on ot l|g| Court.
*** L|steo but not quoteo ano boo| va|ue |s ta|en as mar|et va|ue
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
¸õ
Schedules formlng µart of the Accounts
C in Crores C |n Crores
As at
¿v.o¿.zovv
As at
¸:.o¸..o:o
SCHLouLL 'y' : CuÞÞLN1 ASSL1S, LOANS ANo AovANCL
CuÞÞLN1 ASSL1S
lnventories
Stores ano Spares ¿o.¿y ¸¸..¸
lue| z.yo :.,6
Stock-in-trade
law mater|a|s ano Accessor|es (lnc|uo|ng |ater|a| |n ¯rans|t) zpy.p6 ,¸.o¸
l|n|s|eo Cooos vv6.6q 8..,6
l|n|s|eo Cooos (¯raoeo) ¿.6p ,.¸8
vor|-|n-Þrogress zqy.p8 .o6.6:
|ater|a| vor| at S|te z.yq o.oo
vaste v.¿o :.o:
666.¿v ¸,¸.o:
6pp.v6 ,¸..oo
Land held for Sale ¿q.yo o.oo
Sundry oebtors {unsecured}
Outstano|ng tor a per|oo exceeo|ng s|x mont|s
Cons|oereo Cooo qy.o¿ ::.:.
Cons|oereo Loubttu| v.yv :.:,
Less. Þrov|s|on v.yv :.:,
o.oo o.oo
qy.o¿ ::.:.
Ot|ers (Cons|oereo Cooo) yv8.6o ,:¸.o,
y6¿.6¿ ,.,.:6
Cash 8 Bank Balances
Cas| on |ano o.qz o.¸¸
Bank Balances
v|t| Sc|eou|eo 3an|s
ln Current Accounts 6.yz .,.¸.
(lnc|uo|ng C o.¸¸ Crores |n unpa|o o|v|oeno accounts) (Co.¸¸ Crores)
ln Lxc|ange Larners lore|gn Currency A/c. o.vy o.o,
ln Cas| Creo|t Account y.vv 8..¸
ln Sav|ng Accounts {C qy,8o8[-} (C ,.,,¸./-)
ln l|xeo Lepos|t Accounts vq.8p ,.,,
(C ¸.,6 Crores |oogeo w|t| 3an| as Secur|ty tor
Cuarantee lac|||ty ano C o.o: Crores |oogeo w|t| Court
tor LSl case (C 6.:, Crores ano C o.o: Crores respect|ve|y))
z8.6y ,..6:
zp.op ,¸.:,
Other Current Assets
lnterest accrueo o.zy o..,
Ot|er rece|vab|es voo.zy ,¸.66
voo.yz ,¸.,o
LOANS 8 AovANCLS {unsecured, considered
good unless stated Otherwise}
Loans 8 Advances
Aovances lece|vab|e |n Cas| or ||no or tor t|e va|ue to be rece|veo
Cons|oereo Cooo vo6.6o .,¸.8:
Cons|oereo Loubttu| o.op o.o,
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o.oo o.oo
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¸;
Schedules formlng µart of the Accounts
C in Crores C |n Crores
As at
¿v.o¿.zovv
As at
¸:.o¸..o:o
SCHLouLL 'y' : CuÞÞLN1 ASSL1S, LOANS ANo AovANCL (Conto.)
3a|ances w|t| Custom, Lxc|se etc. o.oq o.o6
|A¯ Creo|t Lnt|t|ement lece|vab|e yy.6¿ ¸,.88
Ot|er Loans ¿v.vv ¸:.,8
vp¿.¿8 ¸:o..¸
Loans ano Aovances to Subs|o|ary Compan|es
Cons|oereo Cooo vyy.o6 :,o.:8
Cons|oereo Loubttu| y.pv ,.,:
Less. Þrov|s|on y.pv ,.,:
o.oo o.oo
vyy.o6 :,o.:8
Aovance ¯ax pa|o (Het ot Þrov|s|on ot C 6¸.,, Crores, 8.y¿ ,.¸,
Þrev|ous /ear C ,,.,6 Crores) ¿yp.vy ,8,.8o
v8o6.oy :,8o.oo
SCHLouLL '8' : CuÞÞLN1 LlABlLl1lLS 8 ÞÞOvlSlONS
Current Liabilities
Acceptances vo8.zz :..,,
Sunory Creo|tors
- Lue to ||cro 8 Sma|| Lnterpr|ses (Hote Ho. :8) o.oo o.oo
- Ot|ers qzq.y6 ¸,,.8,
Ot|er L|ab|||t|es (Hote Ho. ,) pz.yy ,:.o6
lnterest accrueo but not oue on Loans v.yq :..,
lnvestor Loucat|on ano Þrotect|on luno s|a||
be creo|teo by t|e to||ow|ng amount name|y . _
- 0npa|o L|v|oeno o.¿¿ o.¸¸
- 0npa|o |atureo Lebentures o.z¿ o..¸
- varrants lssueo but not Lncas|eo
- lnterest on Lepos|ts o.o6 o.o6
- lnterest on Lebentures o.oo o.:,
o.6z o.8:
6zy.6p ,¸¸.,.
Þrovisions
Þens|on o.y6 o.,¸
Superannuat|on v.yp o.oo
Cratu|ty v.8q :.,.
Leave Lncas|ment 6.8¿ ¸.o:
vo.8z ,.¸8
6¿8.yv ,,o.8o
_ Ho amount |s oue as on ¸:st |arc|, .o:: tor creo|t to lnvestor Loucat|on ano Þrotect|on luno
(luno). ¯|e actua| amount to be transterreo to t|e luno |n t||s respect w||| be oeterm|neo on
t|e respect|ve oue oates.
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
¸8
Schedules formlng µart of the Accounts
C in Crores C |n Crores
As at
¿v.o¿.zovv
As at
¸:.o¸..o:o
SCHLouLL 'p' : MlSCLLLANLOuS LXÞLNol1uÞL
(¯o t|e extent not wr|tten on)
letrenc|ment Compensat|on unoer vlS o.oo :o.o,
Aoo . Aoo|t|on our|ng t|e year o.oo o.:¸
Less . Aojusteo our|ng t|e year o.oo (:o..o)
o.oo o.oo
C in Crores
zovo-vv
C |n Crores
.oo,-:o
SCHLouLL 'vo' : OÞLÞA1lNe lNCOML
Þrocess|ng lncome ¿q.pq .,.,6
(¯ax Leoucteo at Source C o.¸8 Crores, Þrev|ous /ear C o.,8 Crores)
Ca|n/(Loss) on lorwaro Contracts zy.qy :..:o
Ot|er Operat|ng lncome z¿.z6 .,.8,
(¯ax Leoucteo at Source C o.o: Crores, Þrev|ous /ear C H||)
8y.6y 6,.,o
SCHLouLL 'vv': O1HLÞ lNCOML
lncome trom lnvestments (Cross)
lrom ¯raoe lnvestments
o.yz o.:,
Ot|er lncome
v.qp :.,o
(¯ax Leoucteo at Source C H||, Þrev|ous /ear C o.o: Crores)
lent
o.6p o.¸,
(¯ax Leoucteo at Source C o.o, Crores, Þrev|ous /ear C o.:o Crores)
Lxcess/S|ort Þrov|s|on Ho Longer requ|reo (Het)
v.6p o.:8
Þront on Sa|e ot l|xeo Assets (Het)
¿o.vz ,.,,
¿q.yv ::.8¸
SCHLouLL 'vz': LMÞLOYLLS' LMOLuMLN1S
Sa|ar|es, vages, 3onus ano Cratu|ty
z¿8.¿8 .:o.,:
Contr|but|on to Þrov|oent luno ano Ot|er lunos
zy.6y ...,.
ve|tare Lxpenses
q.p¿ ¸.,8
z68.p6 .¸,.¸:
L|rectors' lemunerat|on (Hote Ho. .)
z.yq ¸.,.
L|rectors' Comm|ss|on
z.qo o.:,
q.pq ¸.¸,
zy¿.po .,o.,o
¸p
Schedules formlng µart of the Accounts
C in Crores
zovo-vv
C |n Crores
.oo,-:o
SCHLouLL 'v¿': O1HLÞS
Þower 8 lue|
zq¿.6p .o8.6.
Stores Consumeo
vpz.8¿ .o..¸¸
Þrocess|ng C|arges
8y.vp ,8..8
lepa|rs .
3u||o|ng lepa|rs
o.qz o.,8
|ac||nery lepa|rs
y6.zv ¸,.¸o
Ot|er lepa|rs
z.8z ,.¸,
yp.qy ,¸.6,
Þr|nt|ng, Stat|onery ano Commun|cat|on
q.vq ,.¸,
¯urn|ey Þroject Lrect|on C|arges
¿.oz o.,,
lnsurance prem|um
¿.¿8 ,.¸6
lates 8 ¯axes
¿.qz ¸.o¸
Lxc|se Luty
o.v¿ o.:,
lent
vy.py .o.¸6
Comm|ss|on, 3ro|erage ano L|scount
z6.68 .6.,:
Aovert|sement Lxpenses
y.oo ,.6,
lre|g|t, lnsurance ano C|ear|ng C|arges
z¿.v8 .,.,,
||sce||aneous Labour C|arges
¿o.zo ¸:.¸8
Þrov|s|on tor Loubttu| Lebts
o.¿q o.oo
3ao Lebts vr|tten On
o.op o.oo
l|xeo Assets/Þroject Lxpenses vr|tten on
o.¿¿ o.oo
Loss on sa|e ot lnvestments (Het)
o.vo o.oo
L|rectors' S|tt|ng lees
o.ov o.o.
Ot|er Lxpenses
y¿.8o ¸¸.,8
yyz.p¿ ,¸:.,¸
SCHLouLL 'vq': lN1LÞLS1 ANo llNANCL COS1S {NL1}
lnterest
On |oans tor a l|xeo Þer|oo
vz6.¿z :.,.:6
Ot|ers
q6.8y ¸,.¸,
vy¿.vp :86.¸¸
Less . lnterest lncome
lnterest trom ot|ers (Cross)
vy.6q ¸¸.¸,
(lncome tax oeoucteo C o.., Crores, Þrev|ous year C :.,, Crores)
Het lnterest Lxpenses
vyy.yy :¸o.,,
Ot|er l|nance Cost
qz.zy .6.,,
Lxc|ange late (Ca|n) / Loss
{y.zv} (...¸:)
vpq.yp :¸¸.,,
SCHLouLL 'vy': {lNCÞLASL}[oLCÞLASL lN S1OCk
l|n|s|eo Cooos, vor|-|n-Þrogress ano vaste
C|os|ng Stoc|s
¿6¿.pz .,o.¸8
Open|ng Stoc|s
zpo.y8 ¸¸,.¸8
Less . Aojusteo aga|nst Secur|t|es Þrem|um (Hote Ho. ::)
zo.zy o.oo
Less . vr|tten on our|ng t|e /ear
o.oq o.oo
Less . Aojustment oue to Lemerger
o.oo ¸o...
zyo.zp ¸o,.¸6
{p¿.6¿} :8.,8
Lxc|se Luty |n va|ue ot Stoc|s - lncrease / (Lecrease)
o.oq
(C .¸,¸¸¸/-)
(lncrease) / Lecrease |n Stoc|
{p¿.yp} :8.,8
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
µo
Notes formlng µart of the Accounts
SCHLouLL v6 : NO1LS lOÞMlNe ÞAÞ1 Ol ACCOuN1S:
v. SleNlllCAN1 ACCOuN1lNe ÞOLlClLS
{A} ACCOuN1lNe CONvLN1lON
¯|e Company to||ows t|e accrua| met|oo ot account|ng. ¯|e
nnanc|a| statements |ave been prepareo |n accoroance w|t|
t|e ||stor|ca| cost convent|on (except so tar as t|ey re|ate to
(a) reva|uat|on ot nxeo assets ano prov|o|ng tor oeprec|at|on
on reva|ueo amounts ano (b) |tems covereo unoer 'Account|ng
Stanoaro (AS) ¸o' on 'l|nanc|a| lnstruments. lecogn|t|on ano
|easurement' w||c| |ave been measureo at t|e|r ta|r va|ue)
ano account|ng pr|nc|p|es genera||y accepteo |n lno|a.
¯|e preparat|on ot nnanc|a| statements requ|res t|e
management to ma|e est|mates ano assumpt|ons |n
t|e reporteo amounts ot assets ano ||ab|||t|es (|nc|uo|ng
cont|ngent ||ab|||t|es) as ot t|e oate ot t|e nnanc|a| statements
ano t|e reporteo |ncome ano expenses our|ng t|e report|ng
per|oo. |anagement be||eves t|at t|e est|mates useo |n
preparat|on ot t|e nnanc|a| statements are pruoent ano
reasonab|e. luture resu|ts cou|o o|ner trom t|ese est|mates.
{B} lNlLA1lON
Assets ano ||ab|||t|es are recoroeo at ||stor|ca| cost to t|e
Company (except so tar as t|ey re|ate to (a) reva|uat|on
ot nxeo assets ano prov|o|ng tor oeprec|at|on on reva|ueo
amounts ano (b) |tems covereo unoer 'Account|ng Stanoaro
(AS) ¸o' on 'l|nanc|a| lnstruments. lecogn|t|on ano
|easurementº w||c| |ave been measureo at t|e|r ta|r va|ue).
¯|ese costs are not aojusteo to renect t|e c|ang|ng va|ue |n
t|e purc|as|ng power ot money.
{C} ÞLvLNuL ÞLCOeNl1lON
(C.:) Sa|es ano operat|ng |ncome |nc|uoes sa|e ot prooucts,
by-prooucts ano waste, |ncome trom job wor|
serv|ces ano ga|n or |oss on torwaro contracts. Sa|es
are recogn|zeo baseo on passage ot t|t|e to gooos
w||c| genera||y co|nc|oes w|t| o|spatc|. levenue
trom export sa|es are recogn|zeo on s||pment bas|s.
Sa|es are stateo net ot returns, exc|se outy 8 Sa|es ¯ax/
vA¯. Lxport |ncent|ves are accounteo on accrua| bas|s
at t|e t|me ot export ot gooos, |t t|e ent|t|ement can
be est|mateo w|t| reasonab|e accuracy ano cono|t|ons
preceoent to c|a|m are tu|n||eo.
(C..) levenue trom job wor| serv|ces |s recogn|zeo baseo
on t|e serv|ces renoereo |n accoroance w|t| t|e terms
ot contracts.
(C.¸) levenue |n respect ot projects tor Construct|on ot
Þ|ants ano Systems, execut|on ot w||c| |s spreao
over o|nerent account|ng per|oos, |s recogn|seo on
t|e bas|s ot percentage ot comp|et|on met|oo |n
accoroance w|t| Account|ng Stanoaro , Account|ng
tor Construct|on Contracts.
Þercentage ot comp|et|on |s oeterm|neo by t|e
proport|on t|at contract costs |ncurreo tor wor| oone
t||| oate bears to t|e est|mateo tota| contract cost.
L|nerence between costs |ncurreo p|us recogn|seo
pront/|oss recogn|seo |osses ano t|e amount |nvo|ceo
|s treateo as contract |n progress.
Leterm|nat|on ot revenues unoer t|e percentage
ot comp|et|on met|oo necessar||y |nvo|ves ma||ng
est|mates by t|e Company, some ot w||c| are ot
a tec|n|ca| nature, re|at|ng to t|e percentage ot
comp|et|on, costs to comp|et|on, expecteo revenue
trom t|e contract ano t|e toreseeab|e |osses to
comp|et|on.
(C.,) C|a|ms rece|vab|e on account ot lnsurance are
accounteo tor to t|e extent t|e Company |s reasonab|y
certa|n ot t|e|r u|t|mate co||ect|on.
{o} vALuA1lON Ol lNvLN1OÞY
(L.:) ¯|e stoc| ot vor|-|n-progress ano nn|s|eo gooos ot
t|e /arn, labr|c ano 3ranoeo Carment 3us|ness |as
been va|ueo at t|e |ower ot cost ano net rea||zab|e
va|ue. ¯|e cost |as been measureo on t|e stanoaro
cost bas|s ano |nc|uoes cost ot mater|a|s ano cost ot
convers|on.
(L..) A|| ot|er |nventor|es ot stores, consumab|es, raw
mater|a|s (L|ectron|cs L|v|s|on), project mater|a| at
s|te are va|ueo at cost. ¯|e stoc| ot waste |s va|ueo at
mar|et pr|ce. ¯|e ot|er raw mater|a|s, nn|s|eo gooos
ano stoc| at branc|es are va|ueo at |ower ot cost
ano net rea||zab|e va|ue. Cost |s measureo on actua|
average tor t|e w|o|e year. Lxc|se outy w|erever
app||cab|e |s prov|oeo on nn|s|eo gooos |y|ng w|t||n
t|e tactory ano bonoeo ware|ouse at t|e eno ot t|e
year.
{L} llXLo ASSL1S 8 oLÞÞLClA1lON
(L.:) l|xeo assets are stateo at t|e|r or|g|na| cost ot
acqu|s|t|on/reva|ueo cost w|erever app||cab|e |ess
accumu|ateo oeprec|at|on ano |mpa|rment |osses.
Cost compr|ses ot a|| costs |ncurreo to br|ng t|e assets
to t|e|r |ocat|on ano wor||ng cono|t|on.
(L..) Lano |e|o tor sa|e |s stateo at t|e |ower ot t|e|r net
boo| va|ue ano net rea||zab|e va|ue.
(L.¸) Lxc|ange rate ga|n or |oss on tore|gn currency |oans
re|ateo to acqu|s|t|on ot oeprec|ab|e assets are be|ng
cap|ta||zeo as per t|e not|ncat|on oateo ¸:st |arc|,
.oo, |ssueo by ||n|stry ot Corporate Ana|rs, Hew
Le|||.
(L.,) Leprec|at|on on leva|ueo l|xeo Assets |s ca|cu|ateo on
t|e res|oua| ||te ot t|e assets or as per rates spec|neo
|n t|e Sc|eou|e Xlv to t|e Compan|es Act, :,¸6
w||c|ever |s ||g|er.
(L.¸) Aoo|t|ons to nxeo assets atter :st October .oo6
|ave been stateo at cost net ot CLHvA¯ w|erever
app||cab|e.
µ¡
Notes formlng µart of the Accounts
(L.6) L|rect|y |oent|nab|e preoperat|ve expenses ot new
projects ot cap|ta| nature unoer |mp|ementat|on
are carr|eo torwaro unoer cap|ta| wor|-|n-progress,
peno|ng cap|ta||zat|on.
(L.,) Leprec|at|on on l|xeo Assets |s prov|oeo, pro rata
tor t|e per|oo ot use, on Stra|g|t L|ne |et|oo (SL|),
as per rates spec|neo |n t|e Sc|eou|e Xlv to t|e
Compan|es Act, :,¸6 except tor t|e to||ow|ng w||c|
are baseo on management's est|mate ot usetu| ||ves ot
t|e nxeo assets.
Car ve||c|es. .o/, Lease|o|o lmprovements. :o/
(L.8) Leprec|at|on on |mpa|reo asset |s prov|oeo on t|e
asset's rev|seo carry|ng amount, over |ts rema|n|ng
usetu| ||te.
(L.,) Leprec|at|on on exc|ange rate o|nerence cap|ta||zeo
|s prov|oeo over t|e ba|ance ||te ot t|e assets as per
t|e not|ncat|on oateo ¸:st |arc|, .oo, |ssueo by t|e
||n|stry ot Corporate Ana|rs.
(L.:o) lno|v|oua| assets cost|ng |ess t|an C ¸,ooo/- |ave been
tu||y oeprec|ateo |n t|e year ot purc|ase on _a^ aPcP
bas|s.
(L.::) leva|uat|on leserve on Assets so|o |s transterreo to
Cenera| leserve.
{l} lMÞAlÞMLN1 Ol ASSL1S
An asset |s cons|oereo as |mpa|reo |n accoroance w|t|
Account|ng Stanoaro .8 on lmpa|rment ot Assets w|en at
ba|ance s|eet oate t|ere are |no|cat|ons ot |mpa|rment ano
t|e carry|ng amount ot t|e asset, or w|ere app||cab|e t|e
cas| generat|ng un|t to w||c| t|e asset be|ongs, exceeos |ts
recoverab|e amount (|.e. t|e ||g|er ot t|e asset's net se|||ng
pr|ce ano va|ue |n use). ¯|e carry|ng amount |s reouceo to t|e
recoverab|e amount ano t|e reouct|on |s recogn|zeo as an
|mpa|rment |oss |n t|e pront ano |oss account.
{e} lNvLS1MLN1S
(C.:) lnvestments are c|ass|neo as |nvestments |n
Subs|o|ar|es, Ava||ab|e tor Sa|e ano le|o-to-|atur|ty
w|t||n t|e mean|ng ot Account|ng Stanoaro ¸o on
'l|nanc|a| lnstruments. lecogn|t|on ano |easurement'
reao w|t| t|e ||m|teo rev|s|on ot Account|ng Stanoaro
.: on Conso||oateo l|nanc|a| Statements.
(C..) lnvestments |n subs|o|ar|es are va|ueo at cost |ess any
prov|s|on tor |mpa|rment. lnvestments are rev|eweo
tor |mpa|rment |t events or c|anges |n c|rcumstances
|no|cate t|at t|e carry|ng amount may not be
recoverab|e.
(C.¸) lnvestments c|ass|neo as ava||ab|e tor sa|e are
remeasureo at subsequent report|ng oates to ta|r
va|ue. 0nrea||zeo ga|ns/|osses on suc| |nvestments are
recogn|seo o|rect|y |n lnvestment leva|uat|on leserve
Account. At t|e t|me ot o|sposa|, oerecogn|t|on or
|mpa|rment ot t|e |nvestments, cumu|at|ve ga|n or |oss
prev|ous|y recogn|seo |n t|e |nvestment reva|uat|on
reserve account |s recogn|seo |n t|e pront ano |oss
account.
(C.,) lnvestments c|ass|neo as |e|o tor trao|ng t|at |ave a
mar|et pr|ce are measureo at ta|r va|ue ano ga|n/|oss
ar|s|ng on account ot ta|r va|uat|on |s routeo t|roug|
pront ano |oss account.
{H} lOÞLleN CuÞÞLNCY 1ÞANSAC1lONS
(l.:) ¯ransact|ons oenom|nateo |n tore|gn currenc|es are
norma||y recoroeo at t|e exc|ange rate preva|||ng at
t|e t|me ot t|e transact|on.
(l..) |onetary |tems oenom|nateo |n tore|gn currenc|es at
t|e year eno are restateo at year eno rates.
(l.¸) Hon-monetary tore|gn currency |tems are carr|eo at
cost.
(l.,) A|| |ong-term tore|gn currency monetary |tems
cons|st|ng ot |oans w||c| re|ate to acqu|s|t|on ot
oeprec|ab|e cap|ta| assets at t|e eno ot t|e year |ave
been restateo at t|e rate preva|||ng at t|e ba|ance
s|eet oate. ¯|e o|nerence ar|s|ng as a resu|t |as been
aooeo to or oeoucteo trom t|e cost ot t|e assets as per
t|e not|ncat|on |ssueo by t|e ||n|stry ot Corporate
Ana|rs oateo |arc| ¸:, .oo,. Lxc|ange rate o|nerence
on ot|er |ong-term tore|gn currency |oans |s carr|eo
to 'lore|gn Currency |onetary ltem ¯rans|at|on
L|nerence Account' to be amort|zeo up to t|e per|oo
ot |oan or up to ¸:st |arc|, .o:. w||c|ever |s ear||er.
(l.¸) Any |ncome or expense on account ot exc|ange
o|nerence e|t|er on sett|ement or on trans|at|on
ot|er t|an as ment|oneo |n (l.,) above |s recogn|seo
|n t|e pront ano |oss account.
(l.6) Lxpenses ot overseas omces are trans|ateo ano
accounteo at t|e mont||y average rate.
{l} oLÞlvA1lvLS and COMMOol1Y HLoelNe
1ÞANSAC1lONS
(l.:) ln oroer to |eoge |ts exposure to tore|gn exc|ange,
|nterest rate ano commoo|ty pr|ce r|s|s, t|e Company
enters |nto torwaro, opt|on, swap contracts ano ot|er
oer|vat|ve nnanc|a| |nstruments. ¯|e Company ne|t|er
|o|os nor |ssues any oer|vat|ve nnanc|a| |nstruments
tor specu|at|ve purposes.
(l..) Ler|vat|ve nnanc|a| |nstruments are |n|t|a||y recoroeo
at t|e|r ta|r va|ue on t|e oate ot t|e oer|vat|ve
transact|on ano are re-measureo at t|e|r ta|r va|ue at
subsequent ba|ance s|eet oates.
(l.¸) C|anges |n t|e ta|r va|ue ot oer|vat|ves t|at are
oes|gnateo ano qua||ty as cas| now |eoges ano are
oeterm|neo to be an enect|ve |eoge are recoroeo
|n |eog|ng reserve account. ¯o oes|gnate a torwaro
contract or opt|on as an enect|ve |eoge, management
object|ve|y eva|uates ano ev|oences w|t| appropr|ate
support|ng oocuments at t|e |ncept|on ot eac| contract
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
µz
Notes formlng µart of the Accounts
w|et|er t|e contract |s enect|ve |n ac||ev|ng onsett|ng
cas| nows attr|butab|e to |eogeo r|s|. Any cumu|at|ve
ga|n or |oss on t|e |eog|ng |nstrument recogn|seo |n
|eog|ng reserve |s |ept |n |eog|ng reserve unt|| t|e
torecast transact|on occurs or t|e |eogeo account|ng
|s o|scont|nueo. Amounts oeterreo to |eog|ng reserve
are recyc|eo |n t|e pront ano |oss account |n t|e per|oos
w|en t|e |eogeo |tem |s recogn|seo |n t|e pront ano
|oss account or w|en t|e port|on ot t|e ga|n or |oss |s
oeterm|neo to be an |nenect|ve |eoge.
(l.,) Ler|vat|ve nnanc|a| |nstruments t|at oo not qua||ty tor
|eoge account|ng are mar|eo to mar|et at t|e ba|ance
s|eet oate ano ga|ns or |osses are recogn|seo |n t|e
pront ano |oss account |mmeo|ate|y.
(l.¸) leoge account|ng |s o|scont|nueo w|en t|e |eog|ng
|nstrument exp|res or |s so|o, term|nateo or exerc|seo,
or no |onger qua||nes tor |eoge account|ng. lt a |eogeo
transact|on |s no |onger expecteo to occur, t|e net
cumu|at|ve ga|n or |oss recogn|seo |n |eog|ng reserve
|s transterreo to net pront or |oss tor t|e year.
{1} LMÞLOYLL BLNLll1S
(!.:) ¯|e Company |as Lenneo Contr|but|on Þ|ans tor
post emp|oyment benents name|y Þrov|oent luno
ano Superannuat|on luno w||c| are recogn|zeo
by t|e lncome ¯ax Aut|or|t|es. ¯|ese tunos are
aom|n|stereo t|roug| trustees ano t|e Company's
contr|but|ons t|ereto are c|argeo to revenue every
year. ¯|e Company a|so pays |nsurance prem|ums to
tuno a post-emp|oyment meo|ca| ass|stance sc|eme,
a Lenneo Contr|but|on Þ|an aom|n|stereo by lClCl
Lombaro Cenera| lnsurance Company L|m|teo w||c|
|s c|argeo to revenue every year. ¯|e Company's
Contr|but|on to State Þ|ans name|y Lmp|oyee's State
lnsurance luno ano Lmp|oyee's Þens|on Sc|eme are
c|argeo to revenue every year.
(!..) ¯|e Company |as Lenneo 3enent Þ|ans name|y |eave
encas|ment/compensateo absences ano Cratu|ty tor
a|| t|e emp|oyees, t|e ||ab|||ty tor w||c| |s oeterm|neo
on t|e bas|s ot an actuar|a| va|uat|on at t|e year eno ano
|ncrementa| ||ab|||ty, |t any, |s prov|oeo tor |n t|e boo|s.
¯|e actuar|a| va|uat|on |s oone baseo on Þrojecteo 0n|t
Creo|t |et|oo. Cratu|ty sc|eme |s aom|n|stereo t|roug|
trust recogn|seo by t|e lncome ¯ax Aut|or|t|es ano / or by
L|te lnsurance Corporat|on ot lno|a.
(!.¸) Actuar|a| Ca|ns ano Losses compr|se ot exper|ence
aojustments ano t|e enects ot c|anges |n actuar|a|
assumpt|ons ano are recogn|seo |mmeo|ate|y |n t|e
Þront ano Loss Account as |ncome or expense.
{k} BOÞÞOwlNe COS1
3orrow|ng costs |nc|uoe |nterest, tees ano ot|er c|arges
|ncurreo |n connect|on w|t| t|e borrow|ng ot tunos. lt |s
ca|cu|ateo on t|e bas|s ot enect|ve |nterest rate |n accoroance
w|t| Account|ng Stanoaro (AS) - ¸o ano cons|oereo as
revenue expeno|ture ano c|argeo to pront ano |oss account
tor t|e year |n w||c| |t |s |ncurreo except tor borrow|ng costs
attr|buteo to t|e acqu|s|t|on/|mprovement ot qua||ty|ng
assets up to t|e oate w|en suc| assets are reaoy tor |ntenoeo
use w||c| are cap|ta||seo as a part ot t|e cost ot suc| asset.
{L} LLASL ACCOuN1lNe
(L.:) Assets acqu|reo unoer l|nance Lease are segregateo
trom t|e assets owneo ano recogn|zeo as asset at an
amount equa| to t|e ta|r va|ue ot t|e |easeo assets at
t|e |ncept|on ot t|e |ease or t|e present va|ue ot t|e
m|n|mum |ease payments w||c|ever |s |ower w|t|
correspono|ng outstano|ng ||ab|||ty.
(L..) Lease renta| payab|e on suc| nnance |ease |as been
apport|oneo between nnance c|arge ano t|e reouct|on
|n t|e outstano|ng ||ab|||ty. ¯|e nnance c|arge |as
been a||ocateo to per|oos our|ng t|e |ease term so as
to proouce constant per|oo|c rate ot |nterest on t|e
rema|n|ng ba|ance ot ||ab|||ty tor eac| per|oo.
(L.¸) Lease lenta|s tor assets acqu|reo unoer operat|ng
|ease are recogn|seo as an expense |n Þront 8 Loss
Account on a stra|g|t ||ne bas|s over t|e |ease term.
{M} 1AXLS ON lNCOML
(|.:) ¯ax expense cons|sts ot bot| current as we|| as
oeterreo tax ||ab|||ty. Current tax represents amount ot
|ncome tax payab|e |nc|uo|ng t|e tax payab|e u/s ::¸!3,
|t any, |n respect ot taxab|e |ncome tor t|e year.
(|..) ||n|mum A|ternate ¯ax Creo|t |s recogn|seo as an
asset on|y w|en ano to t|e extent t|ere |s conv|nc|ng
ev|oence t|at t|e Company w||| pay norma| |ncome tax
w|t||n t|e spec|neo per|oo.
(|.¸) Leterreo tax |s recogn|seo on t|m|ng o|nerence
between t|e account|ng |ncome ano t|e taxab|e
|ncome tor t|e year t|at or|g|nates |n one per|oo ano
are capab|e ot reversa| |n one or more subsequent
per|oos. Suc| oeterreo tax |s quant|neo us|ng t|e tax
rates ano |aws enacteo or substant|ve|y enacteo as on
t|e 3a|ance S|eet oate.
(|.,) Leterreo tax asset |s recogn|seo ano carr|eo torwaro
to t|e extent t|at t|ere |s a v|rtua| certa|nty supporteo
by conv|nc|ng ev|oence t|at sumc|ent tuture taxab|e
|ncome w||| be ava||ab|e aga|nst w||c| suc| oeterreo
tax asset can be rea||zeo.
{N} LAÞNlNe ÞLÞ SHAÞL
¯|e Company reports bas|c ano o||uteo Larn|ngs Þer S|are
(LÞS) |n accoroance w|t| Account|ng Stanoaro .o on Larn|ngs
Þer S|are. 3as|c LÞS |s computeo by o|v|o|ng t|e net pront or
|oss tor t|e year by t|e we|g|teo average number ot Lqu|ty
S|ares outstano|ng our|ng t|e year. L||uteo LÞS |s computeo
by o|v|o|ng t|e net pront or |oss tor t|e year by t|e we|g|teo
average number ot equ|ty s|ares outstano|ng our|ng t|e year
as aojusteo tor t|e enects ot a|| o||ut|ve potent|a| equ|ty s|ares,
except w|ere t|e resu|ts are ant|-o||ut|ve.
µ¸
Notes formlng µart of the Accounts
{O} ÞÞOvlSlONS, CON1lNeLN1 LlABlLl1lLS ANo
CON1lNeLN1 ASSL1S
Þrov|s|ons |nvo|v|ng a substant|a| oegree ot est|mat|on
|n measurement are recogn|zeo w|en t|ere |s a present
ob||gat|on as a resu|t ot past events ano |t |s probab|e t|at
t|ere w||| be an outnow ot resources. Cont|ngent ||ab|||t|es
are not recogn|zeo but are o|sc|oseo |n t|e accounts by way
ot a note. Cont|ngent assets are ne|t|er recogn|zeo nor
o|sc|oseo |n t|e nnanc|a| statements.
{Þ} CAÞl1AL lSSuL LXÞLNSLS
Lxpenses on |ssue ot S|ares, Lebentures ano CLls are be|ng
aojusteo aga|nst Secur|t|es Þrem|um Account as perm|tteo
by Sect|on ,8 ot t|e Compan|es Act.
z. MANAeLÞlAL ÞLMuNLÞA1lON:
olÞLC1OÞS' ÞLMuNLÞA1lON (C |n Crores)
Þarticulars zovo-vv .oo,-:o
Managing[whole-time oirectors
(|) Sa|ar|es o.8o o.66
(||) Contr|but|on to .
Þrov|oent luno o.op o.o8
Superannuat|on luno o.vz o.o,
Þrov|s|on tor Cratu|ty o.vp o.o.
(|||) Þerqu|s|tes o.zp :.:,
(|v) |eo|ca| Lxpenses o.oq o.o¸
(v) Ot|er A||owances v.ov :.,o
(v|) Comm|ss|on z.vv o.oo
1otal q.6y ¸.,.
(|x) Comm|ss|on to Hon v|o|e-t|me
L|rectors
o.zp o.:,
1O1AL q.pq ¸.¸,
Computat|on ot Het Þront |n accoroance w|t| Sect|on :,8 ot t|e
Compan|es Act, :,¸6
(C |n Crores)
Þarticulars zovo-vv
Þront betore ¯axes as per Þront 8 Loss Account v¿q.8o
Aoo .
Leprec|at|on as per Accounts vv6.v6
|anager|a| lemunerat|on q.pq
L|rectors' S|tt|ng lees o.ov
zyy.pv
Less .
Surp|us on o|sposa| ot nxeo assets as
Þer Sect|on ¸,,
qp.yq
Leprec|at|on as per Sect|on ¸¸o
Aojustment on account ot ear||er year
vv6.v6
z¿.66
Het Þront unoer Sect|on ¸,,/¸¸o tor comput|ng
|anager|a| lemunerat|on
66.¿y
Commission to
(a) C|a|rman ano |anag|ng L|rector ano v|o|e ¯|me L|rector at
:o/ max|mum C 6.6, Crores, restr|cteo up to C ..:: Crores.
(b) Hon v|o|e-¯|me L|rectors at :/ max|mum C o.6, Crores,
restr|cteo up to C o.., Crores.
¿. CON1lNeLN1 LlABlLl1lLS
(a) 3|||s o|scounteo C::,..o Crores (C ¸¸.,, Crores).
(b) C|a|ms aga|nst t|e Company not ac|now|eogeo as Lebt
C8.., Crores (C8.¸: Crores).
(c) Cuarantees g|ven by t|e 3an|s on be|a|t ot t|e Company
C .¸.8, Crores (C:¸.,. Crores).
(o) Cuarantee g|ven by t|e Company to 3an| on be|a|t ot ot|ers
C ,,.8o Crores (C H||).
(e) Cuarantees g|ven by t|e Company on be|a|t ot t|e subs|o|ary/
jo|nt venture C ¸¸o.,¸ Crores (C.o8.¸6 Crores).
(t) Lxc|se/Custom oemanos, Sa|es ¯ax oemanos, lncome ¯ax
oemanos ano Serv|ce ¯ax oemanos |n o|spute C:6.o, Crores
(C :¸.¸. Crores), C :8.o. Crores (C :,.,¸ Crores), C ¸.8. Crores
(C 6.:, Crores) ano C :.¸¸ Crores (C :.o6 Crores) respect|ve|y.
q. ¯|e est|mateo amount ot contracts rema|n|ng to be executeo
on cap|ta| account ano not prov|oeo tor C :,o.o6 Crores (C :¸.,:
Crores).
y. Lquity Shares and warrants
(:) ln t|e Lxtra Oro|nary Cenera| |eet|ng ot t|e Company
|e|o on |ay :., .oo,, t|e s|are|o|oers |ave approveo t|e
preterent|a| a||otment ot ¸,¸.,oo,ooo warrants to Þromoters
/Þromoter Croup at an |ssue pr|ce ot C :¸/- w||c| are
convert|b|e |nto ¸,¸.,oo,ooo equ|ty s|ares ot C :o/- eac| at a
prem|um ot C ¸/- at any t|me atter t|e oate ot a||otment but on
or betore t|e exp|ry ot :8 mont|s trom t|e oate ot a||otment
|n one or more tranc|es ano,
(.) ¯|e Þromoters/Þromoter Croup |ave exerc|seo t|e r|g|t
tor convers|on ot .,oo,¸o,ooo warrants (:,¸o,oo,ooo
warrants) |nto Lqu|ty S|ares w|t||n t|e st|pu|ateo per|oo ot
:8 mont|s trom t|e oate ot a||otment. Accoro|ng|y, t|e sa|o
warrants stano converteo |n to .,oo,¸o,ooo Lqu|ty S|ares
(:,¸o,oo,ooo Lqu|ty S|ares) ot C :o/- eac| at a prem|um ot
C ¸/- per s|are.
(¸) ¯|e Þromoters/Þromoter Croup |ave not exerc|seo t|e r|g|t
tor convers|on ot :,¸o,ooo warrants (,,:o,oo,ooo warrants)
|nto Lqu|ty S|ares w|t||n t|e st|pu|ateo per|oo ot :8 mont|s
trom t|e oate ot a||otment. Accoro|ng|y, t|e sa|o warrants
stano torte|teo ano pa|o up amount ot C o.o6 Crores
(C .:.¸. Crores) on suc| warrants |as been transterreo to
Cap|ta| leserve.
(,) Lur|ng t|e year, t|e Company |as |ssueo .¸,,.,¸oo equ|ty
s|ares ot C :o/- eac| at a prem|um ot C ,.6¸ per s|are on
exerc|se ot stoc| opt|on granteo to |ts emp|oyees ano
o|rectors unoer t|e LSOS .oo8 p|an.
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
µµ
Notes formlng µart of the Accounts
6. SLCuÞLo LOANS
LOANS lÞOM BANkS, llNANClAL lNS1l1u1lONS ANo
O1HLÞS
Loans trom 3an|s stano secureo as unoer.
1erm Loans of C yyz.y¿ Crores
Secureo by (a) nrst c|arge on a|| t|e lmmovab|e Þropert|es,
|ovab|e Þropert|es, lntang|b|e Þropert|es ano Cenera| Assets ot t|e
Company present|y re|at|ng to t|e ¯ext||e Þ|ants ano a|| lmmovab|e
Þropert|es, |ovab|e Þropert|es, lntang|b|e Þropert|es ano Cenera|
Assets acqu|reo by t|e Company at any t|me atter execut|on ot ano
our|ng t|e cont|nuance ot t|e lnoenture ot |ortgage, (b) aoo|t|ona|
c|arge by way ot mortgage on lmmovab|e Þropert|es at v|||ages
!et||aj, karo||, vaosar, |ot| 3|oyan, Santej ano k|atrej, (c) c|arge
on t|e Company's ¯raoemar|s ano (o) Secureo by secono c|arge on
a|| t|e Company's Current Assets bot| present ano tuture re|at|ng
to t|e ¯ext||e Þ|ants. Out ot t|ese C ¸¸8..o Crores are aoo|t|ona||y
secureo by nrst c|arge on |ovab|e l|xeo Assets ot !eans ano S||rts
Carment o|v|s|ons at 3anga|ore.
Cash Credit and other facilities of C yyy.y¿ Crores
Secureo by nrst c|arge on a|| t|e Company's Current Assets
present|y re|at|ng to t|e ¯ext||e Þ|ants ano a|| t|e Current Assets
acqu|reo by t|e Company at any t|me atter t|e execut|on ot ano
our|ng t|e cont|nuance ot t|e lnoenture ot |ortgage. ¯|ey are
a|so secureo by a secono c|arge over a|| t|e lmmovab|e Þropert|es,
|ovab|e Þropert|es, lntang|b|e Þropert|es ano Cenera| Assets ot t|e
Company present|y re|at|ng to t|e ¯ext||e Þ|ants ano a|| lmmovab|e
Þropert|es, |ovab|e Þropert|es, lntang|b|e Þropert|es ano Cenera|
Assets acqu|reo by t|e Company at any t|me atter execut|on ot ano
our|ng t|e cont|nuance ot t|e lnoenture ot |ortgage. Some ot t|e
tac|||t|es are aoo|t|ona||y secureo by secono c|arge on movab|e
Þ|ant ano |ac||nery ot t|e !eans ano S||rts Carment o|v|s|ons at
3anga|ore.
lrom linancial lnstitutions and others:
Loans trom l|nanc|a| lnst|tut|ons ano ot|ers stano secureo as noer.
Out of Loans of C zvz.py Crores
A. Loans amount|ng to C .o8.,, Crores are secureo by (a)
nrst c|arge on a|| t|e lmmovab|e Þropert|es, |ovab|e
Þropert|es, lntang|b|e Þropert|es ano Cenera| Assets ot
t|e Company present|y re|at|ng to t|e ¯ext||e Þ|ants ano
a|| lmmovab|e Þropert|es, |ovab|e Þropert|es, lntang|b|e
Þropert|es ano Cenera| Assets acqu|reo by t|e Company at
any t|me atter execut|on ot ano our|ng t|e cont|nuance ot
t|e lnoenture ot |ortgage, (b) aoo|t|ona| c|arge by way ot
mortgage on lmmovab|e Þropert|es at v|||ages !et||aj, karo||,
vaosar, |ot| 3|oyan, Santej ano k|atrej, (c) c|arge on t|e
Company's ¯raoemar|s ano (o) Secureo by secono c|arge
on a|| t|e Company's Current Assets bot| present ano tuture
re|at|ng to t|e ¯ext||e Þ|ants. Out ot t|ese C :,.¸, Crores are
aoo|t|ona||y secureo by nrst c|arge on |ovab|e l|xeo Assets
ot !eans ano S||rts Carment o|v|s|ons at 3anga|ore.
3. Loan ot C ..:, Crores |s secureo by nrst c|arge on Company's
lmmovab|e Þroperty s|tuateo at lamnagar, 3anga|ore. ¯|e
Company |s |n t|e process ot creat|ng secur|ty.
C. Loans ot C :.8, Crores are secureo by |ypot|ecat|on ot
re|ateo ve||c|es.
°¯ext||e Þ|antsº means a|| |mmovab|e propert|es, ano a||
movab|e propert|es ot t|e Company, |nc|uo|ng moveab|e
mac||nery, mac||nery spares, too|s ano accessor|es, but
exc|uo|ng lnvestments ano exc|uo|ng current assets c|argeo
|n tavour ot t|e vor||ng Cap|ta| Lenoers, at t|e to||ow|ng
text||e p|ants ot t|e Company.
a) Harooa loao, L|str|ct A|meoabao
b) v|||age Santej at ¯a|u|a ka|o|, L|str|ct |e|sana
c) v|||age k|atrej at ¯a|u|a ka|o|, L|str|ct |e|sana
o) Aso|a Sp|ntex L|v|s|on at Harooa loao, L|str|ct
A|meoabao.
y. Ot|er L|ab|||t|es |nc|uoe C :.,8 Crores (C o.,, Crores) on account ot
boo| overoratt.
8. Current Assets |nc|uoes C .,..¸: Crores (C .¸,.8, Crores) ano
Capt|a| Aovances |nc|uoes C :.¸, Crores (C H||) oue trom subs|o|ary
compan|es. Current L|ab|||t|es |nc|uoes C 6.6, Crores (C 8..¸6
Crores) oue to subs|o|ary compan|es.
p. ÞLvALuA1lON Ol llXLo ASSL1S
¯|e Company |as reva|ueo t|e ent|re b|oc| ot lree|o|o ano
Lease|o|o Lano w|t| enect trom ¸:st |arc|, .o:: baseo on a
va|uat|on maoe by an approveo va|uer. ¯|e resu|tant |ncrease |n t|e
gross b|oc| amount|ng to C .¸o.,8 Crores |as been aojusteo |n t|e
carry|ng va|ue ot Lano b|oc| ano creo|teo to leva|uat|on leserve.
vo. lMÞAlÞMLN1 Ol llXLo ASSL1S
ln accoroance w|t| t|e Account|ng Stanoaro (AS-.8) on 'lmpa|rment
ot Assets' not|neo by Compan|es (Account|ng Stanoaros)
lu|es, .oo6, t|e Company |as reassesseo |ts nxeo assets ano |s ot
t|e v|ew t|at no turt|er |mpa|rment/reversa| |s cons|oereo to be
necessary |n v|ew ot |ts expecteo rea||sab|e va|ue.
vv. ÞLouC1lON Ol CAÞl1AL:
A Sc|eme ot leouct|on ot Cap|ta| (|ere|n atter reterreo to as
°t|e Sc|emeº) unoer Sect|ons ,8, :oo to :o¸ reao w|t| ot|er
re|evant sect|ons ot t|e Compan|es Act, :,¸6 was approveo by
t|e s|are|o|oers ot t|e Company on .¸t| September, .oo,
ano sanct|oneo by t|e l|g| Court ot Cujarat at A|meoabao on
:¸t| Lecember, .oo,.
Þursuant to t|e Sc|eme, t|e ba|ance |n S|are Þrem|um account
|as been ut|||zeo to t|e extent ot C .o..¸ Crores (C ¸,.,8 Crores)
(out ot perm|tteo ut|||zat|on ot C 6o Crores). ¯|e oeta||s are as
unoer.
µ¸
Notes formlng µart of the Accounts
Sr.
No.
Þarticulars Amount
C in Crores
Lhect on Þroñt
for the year
had the scheme
not prescribed
this accounting
treatment
| leouct|on |n carry|ng va|ue ot
Stoc|
.o..¸ ¯o t|e same
extent
1otal zo.zy
vz. LAÞLY AoOÞ1lON Ol AS ¿o, llNANClAL lNS1ÞuMLN1S:
ÞLCOeNl1lON ANo MLASuÞLMLN1
x Consequent to t|e Announcement ot t|e lnst|tute ot
C|artereo Accountants ot lno|a (lCAl), t|e Company |ao
c|osen to ear|y aoopt 'Account|ng Stanoaro ¸o, l|nanc|a|
lnstruments. lecogn|t|on ano |easurement' |n |ts ent|rety,
reao w|t| ||m|teo rev|s|ons |n var|ous ot|er Account|ng
Stanoaros, as pub||s|eo by lCAl w|t| enect trom :st !u|y, .oo8.
Accoro|ng|y, t|e Company |as c|angeo t|e oes|gnat|on
ano measurement ot a|| |ts s|gn|ncant nnanc|a| assets ano
||ab|||t|es. A|| t|e nnanc|a| assets ano nnanc|a| ||ab|||t|es ano
oer|vat|ves |ave been remeasureo at t|e|r respect|ve ta|r
va|ues or at amort|zeo cost as aga|nst cost or mar|et va|ue
w||c|ever |s |ower. ln t|e sp|r|t ot comp|ete aoopt|on ot AS
- ¸o, t|e Company |ao a|so |mp|ementeo t|e consequent|a|
||m|teo rev|s|ons to 'Account|ng Stanoaro ::' on '¯|e Lnects
ot C|anges |n lore|gn Lxc|ange lates' ano 'Account|ng
Stanoaro :¸' on 'Account|ng tor lnvestments' as |ao been
announceo by t|e lCAl.
x As a resu|t, as on 3a|ance S|eet oate, lnvestments, Secureo
Loans ano 0nsecureo Loans are |ower by C ..:, Crores,
C ..,: Crores ano C ¸.o¸ Crores respect|ve|y ano leoge
leserve account |s ||g|er by C¸:.8, Crores on account ot ta|r
va|uat|on ot outstano|ng oer|vat|ves.
v¿. lOÞLleN LXCHANeL olllLÞLNCLS
x As per t|e not|ncat|on |ssueo by t|e ||n|stry ot Corporate
Ana|rs oateo ¸:st |arc|, .oo, as amenoeo trom t|me to
t|me, t|e Company |ao a|reaoy exerc|seo t|e opt|on tor
account|ng ot exc|ange rate o|nerences w|t| enect trom
Apr|| :, .oo,. Consequent to t|e aoopt|on ot t|at opt|on.
(a) Lxc|ange rate o|nerences ot |ong-term tore|gn
currency |oans w||c| are re|ateo to acqu|s|t|on
ot oeprec|ab|e nxeo assets |ave been aooeo to or
oeoucteo trom t|e cost ot t|e assets ano oeprec|ateo
over t|e ba|ance ||te ot t|e assets ano,
(b) Lxc|ange rate o|nerences on ot|er |ong-term tore|gn
currency |oans |ave been transterreo to 'lore|gn
Currency |onetary ltem ¯rans|at|on L|nerence
Account' to be amort|zeo over t|e ba|ance per|oo ot
|oans or up to ¸:st |arc|, .o:. w||c|ever |s ear||er.
x As a resu|t.
(a) An amount ot C H|| be|ng t|e exc|ange rate
o|tterence tor t|e year (Þrev|ous year ga|n ot C ¸.¸¸
Crores) |as been aojusteo aga|nst t|e t|xeo assets.
(b) An amount ot Co.,¸ Crores be|ng t|e exc|ange rate
ga|n tor t|e year (Þrev|ous year ga|n ot C :.o6 Crores)
rema|ns to be amort|zeo as at t|e ba|ance s|eet oate.
vq. LMÞLOYLL BLNLll1S
Consequent to t|e aoopt|on ot Account|ng Stanoaro on Lmp|oyee
3enents (AS :¸ lev|seo .oo¸) not|neo by Compan|es (Account|ng
Stanoaros) lu|es, .oo6, t|e to||ow|ng o|sc|osures |ave been maoe
as requ|reo by t|e Stanoaro.
{i} oeñned Contribution Þlans
¯|e Company |as recogn|seo t|e to||ow|ng amounts |n t|e
Þront ano Loss Account tor Lenneo Contr|but|on Þ|ans.
(C |n Crores)
Þarticulars zovo-vv .oo,-:o
Þrov|oent luno vo.yy 8.,,
Superannuat|on luno v.yy :.6¸
¯|e Company's Þrov|oent luno |s aom|n|stereo by t|e ¯rust except
tor 3ranoeo Carment L|v|s|on at 3anga|ore w||c| |s aom|n|stereo by
t|e State Covernment. ¯|e lu|es ot t|e Company's Þrov|oent luno
aom|n|stereo by a ¯rust requ|re t|at |t t|e 3oaro ot t|e ¯rustees are
unab|e to pay |nterest at t|e rate oec|areo tor Lmp|oyees' Þrov|oent
luno by t|e Covernment unoer Þara 6o ot t|e Lmp|oyees' Þrov|oent
luno Sc|eme, :,¸. tor t|e reason t|at t|e return on |nvestment
|s |ess or tor any ot|er reason, t|en t|e oenc|ency s|a|| be maoe
gooo by t|e Company. lav|ng regaro to t|e assets ot t|e tuno ano
t|e return on t|e |nvestments, t|e Company ooes not expect any
oenc|ency |n t|e toreseeab|e tuture.
{ii} State Þlans
¯|e Company |as recogn|seo t|e to||ow|ng amounts |n t|e
Þront ano Loss Account tor Contr|but|on to State Þ|ans.
(C |n Crores)
Þarticulars zovo-vv .oo,-:o
Lmp|oyee's State lnsurance y.oy ,.¸o
Lmp|oyee's Þens|on Sc|eme 6.¿8 6.:o
{iii} oeñned Beneñt Þlans
{a} Leave Lncashment[Compensated Absences
Sa|ar|es, vages ano 3onus |nc|uoe C ¸.,, Crores
(C ¸.o, Crores) towaros prov|s|on maoe as per
actuar|a| va|uat|on |n respect ot accumu|ateo |eave
encas|ment/compensateo absences.
{b} Contribution to eratuity lunds
¯|e oeta||s ot t|e Company's Cratu|ty luno tor |ts
emp|oyees |nc|uo|ng |anag|ng L|rector are g|ven
be|ow w||c| |s cert|neo by t|e actuary ano re||eo upon
by t|e auo|tors.
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
µõ
Notes formlng µart of the Accounts
(C ln Crores)
Þarticulars
zovo-vv .oo,-:o
Change in the Beneñt Obligations :

L|ab|||ty at t|e beg|nn|ng ot t|e year
¿8.6¿ ¸¸.oo
Less . Aojustment oue to oemerger
- o.8¸
L|ab|||ty at t|e beg|nn|ng ot t|e year atter
oemerger
¿8.6¿ ¸,.:¸
lnterest Cost
¿.zv ..,¸
Current Serv|ce Cost
¿.zy ¸.oo
3enents Þa|o
{¿.qv} (¸.6,)
Actuar|a| Loss
v.6v ..,.
L|ab|||ty at t|e eno ot t|e year
q¿.¿v ¸8.6¸
lair value of Þlan Assets :

la|r va|ue ot Þ|an Assets at t|e beg|nn|ng ot t|e
year
¿6.¿z ¸..,o
Less . Aojustment oue to oemerger
- o.,,
la|r va|ue at t|e beg|nn|ng ot t|e year atter
oemerger
¿6.¿z ¸..,¸
Lxpecteo leturn on Þ|an Assets
¿.zz ..,o
Contr|but|ons
y.y8 ¸.:8
3enents Þa|o
{¿.qv} (¸.6,)
Actuarial gain[{loss} on Þlan Assets :
{o.zq} :.68
la|r va|ue on Þ|an Assets at t|e eno ot t|e year
qv.qy ¸6.¸.
¯ota| Actuar|a| Loss to be recogn|zeo
{v.8y} o.,,
Actual Þeturn on Þlan Assets :
Lxpecteo leturn on Þ|an Assets
¿.zz ..,o
Actuar|a| ga|n/(|oss) on Þ|an Assets
{o.zq} :.68
Actua| leturn on Þ|an Assets
z.p8 ,.¸8
Amount Þecognized in the Balance Sheet :
L|ab|||ty at t|e eno ot t|e year
q¿.¿v ¸8.6¸
la|r va|ue ot Þ|an Assets at t|e eno ot t|e year
qv.qy ¸6.¸.
Amount recogn|zeo |n t|e 3a|ance S|eet unoer
°Þrov|s|on tor let|rement 3enent º v.8q ..¸:
Lxpense Þecognized in the Þroñt and Loss
Account :
lnterest Cost
¿.zv ..,¸
Current Serv|ce Cost
¿.zy ¸.oo
Lxpecteo leturn on Þ|an Assets
{¿.zz} (..,o)
Het Actuar|a| |oss to be recogn|zeo
v.8y o.,,
Lxpense recogn|zeo |n t|e Þront ano Loss
Account unoer °Lmp|oyee Lmo|umentsº y.vv ¸.,,
Þeconciliation of the Liability
Þecognized in the Balance Sheet :
Open|ng Het L|ab|||ty
z.¿v :.,.
Lxpense lecogn|zeo
y.vv ¸.,,
Contr|but|on by t|e Company
{y.y8} (¸.:8)
Amount recogn|zeo |n t|e 3a|ance S|eet unoer
°Þrov|s|on tor let|rement 3enents º
v.8q ..¸:
3aseo on t|e above a||ocat|on ano t|e preva|||ng y|e|os on t|ese assets, t|e
|ong-term est|mate ot t|e expecteo rate ot return on tuno assets |as been
arr|veo at.
Þrincipal Assumptions:
Þarticulars Current Year
{%}
Þrev|ous /ear
(/)
L|scount late 8-8.zy ,.,¸-8
leturn on Þ|an Assets 8 8
lNvLS1MLN1 ÞA11LÞN:
Þarticulars % lnvested
Current Year
/ lnvesteo
Þrev|ous /ear
Centra| Covernment Secur|t|es o.6: o.6,
State Covernment Secur|t|es/Secur|t|es
guaranteeo by State/Centra| Covernment
o.,o :.¸¸
Þub||c Sector/l|nanc|a| lnst|tut|ona| 3onos ,.¸: ::.o6
Þortto||o w|t| |utua| luno ,o.,, 86..8
Ot|ers (|nc|uo|ng ban| ba|ances) o.,: o.6.
1otal :oo :oo
vy. olSCLOSuÞL lN ÞLSÞLC1 Ol CONS1ÞuC1lON[1OB wOÞk
CON1ÞAC1S
(C |n Crores)
Sr.
No.
Þarticulars zovo-vv .oo,-:o
:. Amount ot Contract levenue recogn|zeo q.ov o.:6
.. L|sc|osure |n respect ot contracts |n
progress at t|e report|ng oate
A Contract cost |ncurreo ano recogn|seo
pronts |ess recogn|seo |osses up to t|e
report|ng oate
q.ov o.:6
3 Þrogress b||||ngs Nil H||
C Lue trom customers o.o8 o.o,
L Lue to customers Nil H||
v6. olSCLOSuÞLS lN ÞLSÞLC1 Ol 1OlN1 vLN1uÞL
(a) L|st ot !o|nt ventures.
Sr.
No.
Name of 1oint venture oescription of
lnterest
{oescription of job}
Þroportion
of
ownership
interest
Country of
lncorporation Þesidence
:. Arya Omn|ta||
v|re|ess So|ut|ons
Þr|vate L|m|teo
!o|nt|y
Contro||eo
Lnt|ty
¸o/ lno|a lno|a
.. Arv|no |urjan|
3ranos Þr|vate
L|m|teo
!o|nt|y
Contro||eo
Lnt|ty
¸o/ lno|a lno|a
¸. vl Arv|no 3ranos
Þr|vate L|m|teo
!o|nt|y
Contro||eo
Lnt|ty
,o/ lno|a lno|a
,. Arya Omn|ta|| lao|o
¯run||ng Serv|ces
Þr|vate L|m|teo
!o|nt|y
Contro||eo
Lnt|ty
¸o/ lno|a lno|a
µ;
Notes formlng µart of the Accounts
(b) l|nanc|a| |nterest |n !o|nt|y Contro||eo Lnt|ty. (C |n Crores)
Sr.
No.
Name of 1oint venture
Company's share of
Assets Liabilities lncome Lxpenses
As at ¿vst March zovv
(As at ¸:st |arc| .o:o)
zovo-vv
(.oo,-:o)
:. Arya Omn|ta|| v|re|ess
So|ut|ons Þr|vate L|m|teo
v6.8o
(:..¸o)
vv.8z
(8.,8)
vy.qv
(:¸.o,)
vq.zq
(:...¸)
.. Arv|no |urjan| 3ranos
Þr|vate L|m|teo
z¿.qv
(:6.,:)
vq.qz
(::.¸6)
qo.z6
(.,.6,)
¿6.po
(.6.,¸)
¸. vl Arv|no 3ranos Þr|vate
L|m|teo
yy.¿¿
(,...o)
yy.yv
(8,.,,)
vzo.yo
(,8.¸,)
vvq.yq
(88...)
,. Arya Omn|ta|| lao|o
¯run||ng Serv|ces Þr|vate
L|m|teo
8.qz
(H.A.)
z.vy
(H.A.)
y.6z
(H.A.)
y.v8
(H.A.)
Company's s|are |n.
(|) Cont|ngent L|ab|||ty |n respect ot guarantee g|ven by 3an| C ..:o
Crores (C o.:¸ Crores)
(||) L|sputeo Lemano |n respect ot lncome ¯ax, Lxc|se Luty, Sa|es ¯ax
ano Serv|ce ¯ax C o.:o Crores (C H||), C H|| (C ,,¸oo/-), C o.o. (C o.o.
Crores) ano C o.,, Crores (C H||) respect|ve|y.
(|||) Cap|ta| comm|tments Co.¸: Crores (C o..6 Crores).
(|v) Counter Cuarantee g|ven to u|t|mate |o|o|ng company C :o,.6o
Crores (C 6,.6o Crores).
Hote . ¯|e above ngures are cons|oereo baseo on unauo|teo nnanc|a|
statements ot t|e respect|ve !o|nt|y Contro||eo Lnt|t|es except
tor Arv|no |urjan| 3ranos Þr|vate L|m|teo t|e ngures ot w||c| are
baseo on auo|teo nnanc|a| statement.
vy. LLASL ÞLN1:
(A) lactory 3u||o|ng |s ta|en on |ease per|oo ot :8 to .o years w|t|
no opt|on ot renewa|, no sub |ease ot t|e bu||o|ng ano |av|ng
an esca|at|on c|ause tor |ncrease |n |ease renta| by :¸/ atter
every ¸ years.
¯|e part|cu|ars ot t|ese |eases are as to||ows. (C |n Crores)
Þarticulars zovo-vv .oo,-:o
luture ||n|mum |ease payments ob||gat|on on
non-cance||ab|e operat|ng |eases .
voo.88 ,¸.¸8
Hot |ater t|an one year 6.y¿ ,.¸:
Later t|an one year ano not |ater t|an nve years yv.¿z .:.,:
Later t|an nve years q¿.o¿ ,8.,6
Lease Þayment recogn|seo |n Þront 8 Loss
Account
6.qv ¸.,o
(3) Þ|ant ano |ac||ner|es are ta|en on operat|ng |ease tor a
per|oo ot ¸ to 8 years w|t| t|e opt|on ot renewa|.
¯|e part|cu|ars ot t|ese |eases are as to||ows. (C |n Crores)
Þarticulars zovo-vv .oo,-:o
luture ||n|mum |ease payments ob||gat|on on
non-cance||ab|e operat|ng |eases .
vzq.ov 6o.88
Hot |ater t|an one year zv.py :o.¸8
Later t|an one year ano not |ater t|an nve years yv.8o ¸¸.o¸
Later t|an nve years ¿o.zq :¸..¸
Lease Þayment recogn|zeo |n Þront 8 Loss
Account
v6.8¿ 8.,,
(C) lent expense |nc|uoes |ease renta| payments towaros omce
prem|ses, s|owrooms ano ot|er tac|||t|es. Suc| |eases are
genera||y tor a per|oo ot :: to :o8 mont|s w|t| t|e opt|on ot
renewa| aga|nst |ncreaseo rent.
¯|e part|cu|ars ot t|ese |eases are as to||ows. (C |n Crores)
Þarticulars zovo-vv .oo,-:o
luture ||n|mum |ease payments ob||gat|on on
non-cance||ab|e operat|ng |eases .
z¿.pz ¸,.66
Hot |ater t|an one year y.66 :,.:,
Later t|an one year ano not |ater t|an nve years v6.z6 ¸8.,:
Later t|an nve years - ¸.o6
Lease Þayment recogn|zeo |n Þront 8 Loss
Account
y.vv :..¸,
(L) Þ|ant 8 |ac||ner|es Lata Þrocess|ng Lqu|pments |ave
been acqu|reo unoer l|nance Lease tor a per|oo ot ¸¸ mont|s
w|t| t|e opt|on ot renewa|.
¯|e part|cu|ars ot t|ese |eases are as to||ows. (C |n Crores)
Þarticulars as on ¿v.o¿.zovv Minimum
lease
payments
Þresent value
of Minimum
lease
Þayments
lnterest
and Other
Charges not
due
luture ||n|mum |ease payments
ob||gat|on .
o.,8 o.,6 o.o.
Hot |ater t|an one year o.,8 o.,6 o.o.
Later t|an one year ano not |ater
t|an nve years
HlL HlL HlL
Later t|an nve years HlL HlL HlL
Þarticulars as on ¿v.o¿.zovo Minimum
lease
payments
Þresent value
of Minimum
lease
Þayments
lnterest
and Other
Charges
not due
luture ||n|mum |ease payments
ob||gat|on .
:.:o :.oo o.:o
Hot |ater t|an one year o.6, o.6o o.o,
Later t|an one year ano not |ater
t|an nve years
o.,6 o.,o o.o6
Later t|an nve years

HlL HlL HlL
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
µ8
Notes formlng µart of the Accounts
vp. Auol1OÞS' ÞLMuNLÞA1lON:
(C |n Crores)
Statutory Auditors zovo-vv .oo,-:o
As Auo|tors o.qy o.,¸
ln Ot|er Capac|ty
¯ax Auo|t |atters o.vo o.:.
¯axat|on |atters o.oq o.o6
Company Law |atters ano Ot|er Serv|ces
|nc|uo|ng Cert|ncat|on vor| o.qz o.,6
Out ot Þoc|et Lxpenses o.o¿ o.o,
Cost Auditor
- Cost Auo|t lees o.oz o.o.
zo. NO1LS 1O CASH lLOw S1A1LMLN1
:. ¯|e Cas| l|ow Statement |as been prepareo unoer t|e
°lno|rect |et|ooº as set out |n Account|ng Stanoaro ¸ on
Cas| l|ow Statements not|neo by Compan|es (Account|ng
Stanoaros) lu|es, .oo6.
.. l|gures |n brac|et represent outnow ot cas|.
¸. Cas| ano Cas| Lqu|va|ents |nc|uoes C ¸.,, Crores (Þrev|ous
/ear C 6..o Crores) not ava||ab|e tor use by t|e Company.
zv. SLeMLN1 ÞLÞOÞ1lNe
{A} Þrimary Segment {Business Segment} (C |n Crores)
Þarticulars zovo-vv .oo,-:o
Segment Þevenue
a) ¯ext||es z6op.vy ..:,.oo
b) Ot|ers 8z.o¿ ,,.88
c) 0na||ocab|e o.oz o.o:
1otal Segment Þevenue z6pv.zz .¸:6.8,
Less .lnter Segment levenue o.oo o.oo
Net Segment Þevenue z6pv.zz .¸:6.8,
Segment Þesults
Segment lesu|ts betore lnterest ano l|nance Cost
a) ¯ext||es ¿¿y.y6 .o¸.,,
b) Ot|ers {v.v8} ,.,6
c) 0na||ocab|e {y.vp} (6.,8)
1otal Segment Þesults ¿zp.¿p .o,.,,
Less . lnterest 8 l|nance Cost vpq.yp :¸¸.,,
Þront trom Oro|nary Act|v|t|es v¿q.8o ¸..oo
Lxtra Oro|nary ltems (Het) o.oo o.oo
Þroñt before 1ax v¿q.8o ¸..oo
(L) lent lncome |nc|uoes Lease lenta| rece|veo towaros Þ|ant
ano |ac||ner|es. Suc| operat|ng |ease |s genera||y tor a
per|oo ot ¸ years w|t| t|e opt|on ot renewa| on mutua|
consent ano premature term|nat|on ot agreement t|roug|
agreeo not|ce per|oo.
¯|e part|cu|ars ot t|ese |eases are as to||ows. (C |n Crores)
Þarticulars zovo-vv .oo,-:o
luture ||n|mum |ease payments unoer non-
cance||ab|e operat|ng |eases .
o.o¿ HlL
Hot |ater t|an one year o.o¿ HlL
Later t|an one year ano not |ater t|an nve years NlL HlL
Later t|an nve years NlL HlL
Lease lncome recogn|seo |n Þront 8 Loss
Account
o.vp o.o,
(l) lent lncome a|so |nc|uoes Lease lenta| rece|veo towaros
Omce 3u||o|ng. Suc| operat|ng |ease |s genera||y tor a per|oo
upto ¸6 mont|s.
¯|e part|cu|ars ot t|ese |eases are as to||ows. (C |n Crores)
Þarticulars zovo-vv .oo,-:o
luture ||n|mum |ease payments unoer non-
cance||ab|e operat|ng |eases .
o.6v o.¸¸
Hot |ater t|an one year o.6v o.¸¸
Later t|an one year ano not |ater t|an nve years NlL HlL
Later t|an nve years NlL HlL
Lease lncome recogn|seo |n Þront 8 Loss
Account
o.6¿ o.¸¸
Other oisclosure:
(C |n Crores)
C|ass ot Asset g|ven
on Lease
eross Block oepreciation lund
As at
¿v-o¿-vo
As at
¿v-o¿-vv
As at
¿v-o¿-vo
lor the
Year
As at
¿v-o¿-vv
Þ|ant ano |ac||ner|es ,.,o q.yo o.,. o.,, :.,:
Omce 3u||o|ngs .:.:8 zv.v8 ¸.8, o.¸¸ ,..,
v8. MlCÞO 8 SMALL LN1LÞÞÞlSLS ouLS
¯|e Company |as not rece|veo any |nt|mat|on trom supp||ers
regaro|ng t|e|r status unoer t|e ||cro, Sma|| ano |eo|um
Lnterpr|ses Leve|opment Act, .oo6 ano |ence o|sc|osures
regaro|ng.
(a) Amount oue ano outstano|ng to supp||ers as at t|e eno ot
account|ng year,
(b) lnterest pa|o our|ng t|e year,
(c) lnterest payab|e at t|e eno ot t|e account|ng year, ano
(o) lnterest accrueo ano unpa|o at t|e eno ot t|e account|ng year
|ave not been g|ven.
¯|e Company |s ma||ng enorts to get t|e connrmat|ons trom t|e
supp||ers as regaros t|e|r status unoer t|e Act.
µp
Notes formlng µart of the Accounts
Þarticulars zovo-vv .oo,-:o
Other lnformation
Segment Assets
a) ¯ext||es z8ov.8o .,o6.oo
b) Ot|ers 8y.8y ,,.:,
c) 0na||ocab|e v¿yz.o6 ,6..o,
1otal Assets qzyp.yv ¸,,¸..6
Segment Liabilities
a) ¯ext||es y6o.8p ¸8,.o¸
b) Ot|ers z8.6y .,.,,
c) 0na||ocab|e 6v.yp ¸,.8o
1otal Liabilities 6yv.¿¿ ,¸¸.6.
Segment oepreciation[lmpairment
a) ¯ext||es vop.zy :o8.¸,
b) Ot|ers v.qp :.¸,
c) 0na||ocab|e y.qz ,.o,
1otal oepreciation[lmpairment vv6.v6 ::¸.8o
Capital Lxpenditure
a) ¯ext||es v¿z.oz ....,
b) Ot|ers q.88 o.oo
c) 0na||ocab|e q¿.8y :¸..,
1otal Capital Lxpenditure v8o.yy ¸,.,8
Non cash expenses other than oepreciation
a) ¯ext||es v.pv o.,.
b) Ot|ers q.pv o.oo
c) 0na||ocab|e o.oq o.o.
1otal Non cash expenses other than
oepreciation
6.86 o.,,
{B} Secondary Segment {eeographical by Customers}:
(C |n Crores)
Þarticulars zovo-vv .oo,-:o
Segment Þevenue
a) ln lno|a vyq8.zy :.,¸.¸o
b) Outs|oe lno|a vvqz.py :o,¸.¸,
1otal Sales z6pv.zz .¸:6.8,
Carrying Cost of Assets by location of Assets
a) ln lno|a qvyy.88 ¸66o.¸,
b) Outs|oe lno|a vov.8¿ 8,.6,
1otal qzyp.yv ¸,,¸..6
Addition to Assets
a) ln lno|a v8o.yy ¸,.,8
b) Outs|oe lno|a o.oo o.oo
1otal v8o.yy ¸,.,8
Notes:
:. ¯|e Company |as o|sc|oseo bus|ness segments as t|e pr|mary
segment. Segments |ave been |oent|neo ta||ng |nto account t|e
nature ot t|e prooucts, o|nerent|a| r|s|s ano returns, t|e Organ|zat|ona|
structure ano |nterna| report|ng system. ¯|e Company's operat|ons
preoom|nant|y re|ate to manutactur|ng ot text||es.
.. ¯ypes ot Þrooucts ano Serv|ces |n eac| bus|ness segment .
1extiles . /arn, labr|c ano Carments
Others . LÞA3X ano lAX Systems (L|ectron|c L|v|s|on), l.¯.
Serv|ces, 3ranoeo Carments ano Construct|on bus|ness
¸. lntersegment levenues are recogn|seo at sa|es pr|ce.
(C |n Crores)
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
¸o
Notes formlng µart of the Accounts
zz. ÞLLA1Lo ÞAÞ1Y olSCLOSuÞLS
As per t|e Account|ng Stanoaro on °le|ateo Þarty L|sc|osuresº (AS :8) not|neo by Compan|es (Account|ng Stanoaros) lu|es, .oo6, t|e re|ateo
part|es ot t|e Company are as to||ows.
List of Þelated Þarties 8 Þelationship :
Subsidiary Companies key Management Þersonnel and relatives 1oint venture Company under the control
of key Managerial Þersonnel
{A} {B} {C} {o}
Asman lnvestment L|m|teo S|r| Sanjay S. La|b|a|, C|a|rman ano |anag|ng L|rector Arya Omn|ta|| v|re|ess So|ut|ons
Þr|vate L|m|teo
Aura Secur|t|es Þr|vate L|m|teo
Arv|no Þrooucts L|m|teo S|r| !ayes| k. S|a|, L|rector 8 C||et l|nanc|a| Omcer Arv|no |urjan| 3ranos Þr|vate
L|m|teo
¯|e Anup Lng|neer|ng L|m|teo S|r| Þun|t S. La|b|a|, Son ot C|a|rman ano |anag|ng
L|rector
vl Arv|no 3ranos Þr|vate L|m|teo
Arv|no leta|| L|m|teo S|r| ku||n S. La|b|a|, Son ot C|a|rman ano |anag|ng
L|rector
Arya Omn|ta|| lao|o ¯urn||ng
Serv|ces Þr|vate L|m|teo
Arv|no L|testy|e 3ranos L|m|teo Arv|no 3sata| lomes LLÞ
Arv|no Acce| L|m|teo
Synte| ¯e|ecom L|m|teo
Arv|no lntrastructure L|m|teo
Arv|no 3ranos ano leta|| L|m|teo
(lormer|y |nown as S||verstone
Þropert|es L|m|teo)
Arv|no vor|ow|oe lnc., 0SA
Arv|no vor|ow|oe (|) lnc., |aur|t|us
Arv|no Overseas (|) L|m|teo, |aur|t|us
Arv|no Sp|nn|ng L|m|teo, |aur|t|us
Arv|no ¯ext||e ||||s L|m|teo, 3ang|aoes|
A|meoabao Last lntrastructure LLÞ
Note: le|ateo Þarty le|at|ons||p |s as |oent|neo by t|e Company ano re||eo upon by t|e Auo|tors.
Þelated Þarty 1ransactions: (C |n Crores)
Nature of 1ransactions Þeferred in v{A} Above Þeferred in v{B} Above Þeferred in v{C} Above Þeferred in v{o} Above
zovo-vv .oo,-:o zovo-vv .oo,-:o zovo-vv .oo,-:o zovo-vv .oo,-:o
Þurchases
Cooos ano |ater|a|s 8¿.yv ,..8o vy.vo ¸6.o,
l|xeo Assets v.yq o.o¸
Sales
Cooos ano |ater|a|s vyy.8¿ :,¸.66 vy.6y .:.¸¸
l|xeo Assets o.zp ,.¸,
Lxpenses
lece|v|ng ot Serv|ces 6o.88 6,.8¸
lemunerat|on 8 Ot|er Serv|ces q.8o ¸.¸,
Ot|ers v.oz o.¸:
lncome
lenoer|ng ot Serv|ces vp.zq ¸..o vq.8y ¸¸..o
lnterest lncome v.¿¿ :,.¸¸ o.qz o..¸
Ot|ers vy.8z o.oo
linance
Lease lent lncome o.vp o.o,
Loan C|ven/(lepa|o) (Het) 6.88 :¸.,8 {v.oo} (:.:o)
lnterest Lxpense v.oo o.oo ¿.68 o.oo
Lease lent Lxpenses o.vp o.:,
euarantees 8 Collaterals ¿o8.6q :,6.:6 zz.op :..,o
lnvestments (Het) ¿.yy :,o.:.
Outstanding :
lece|vab|e|nrespect ot Current Assets8Cap|ta| Aovances zp¿.88 .¸,.8, vq.yz :,.¸.
Þayab|e |n respect ot Current L|ab|||t|es 6.6q 8..¸6 vo.86 :,.¸¸
lece|vab|e/(Þayab|e) |n respect ot |oans v8q.py :,8.o, ¿.zo ,..o {o.¿6} o.oo
¸¡
Notes formlng µart of the Accounts
(C |n Crores)
Loans 8 Advances in the
nature of Loans
Name of Subsidiary Closing
Balance
Maximum
Outstanding
Arv|no Overseas (|aur|t|us) L|m|teo ,.,: ,.,:
Asman lnvestments L|m|teo :¸8.¸¸ :¸,.,8
Arv|no Þrooucts L|m|teo ¸..oo ¸..oo
Arv|no vor|ow|oe (|) lnc. ,..: ,..,
Arv|no vor|ow|oe lnc. 0SA ..o: ..o.
Arv|no Acce| L|m|teo :.6¸ ,.¸,
Arv|no ¯ext||e ||||s L|m|teo, 3ang|aoes| o.o: o.o:
Arv|no L|testy|e 3ranos L|m|teo ¸.¸8 8..,
Arv|no leta|| L|m|teo 6.,, 6.,,
Synte| ¯e|ecom L|m|teo o.:. o.:.
Arv|no 3ranos ano leta|| L|m|teo
(lormer|y |nown as S||verstone
Þropert|es L|m|teo)
:..¸ :..¸
1otal zvp.¿q zzp.8¿
Note :
:. Ho repayment sc|eou|e |as been nxeo |n case ot above ment|oneo
Loans 8 Aovances |n t|e nature ot |oans g|ven to Subs|o|ary
Compan|es ano some ot t|em are |nterest tree.
z¿. LAÞNlNe ÞLÞ SHAÞL {LÞS}
Þarticulars zovo-vv .oo,-:o
Þront ava||ab|e to Lqu|ty S|are|o|oer C |n
Crores
v¿q.8o ¸:.::
ve|g|teo average no. ot Lqu|ty S|ares
tor 3as|c LÞS
Hos. z¿pzooy68 ..¸:,:.,o
ve|g|teo average no. ot Lqu|ty S|ares
tor L||uteo LÞS
Hos. z¿p¿y¿vyy .,668,¸.¸
Hom|na| va|ue ot Lqu|ty S|ares C vo :o
3as|c Larn|ng per Lqu|ty S|are C y.6q ...,
L||uteo Larn|ng per Lqu|ty S|are C y.6¿ ..o,
(C |n Crores)
{A} Þeconciliation of Þroñt for the year,
used for calculating Larning per Share
zovo-vv .oo,-:o
Þront tor t|e year betore Lxtra Oro|nary ltems v¿q.8o ¸..oo
Less. L|v|oeno on reoeemab|e cumu|at|ve non-
Convert|b|e Þreterence S|ares
o.oo o.,6
Less . ¯ax on Þreterence L|v|oeno o.oo o.:¸
Þront/(Loss) ava||ab|e to Lqu|ty S|are|o|oer v¿q.8o ¸:.::
{B} weighted average number of Lquity
Shares
zovo-vv .oo,-:o
Ho. ot S|ares tor 3as|c LÞS z¿pzooy68 ..¸:,:.,o
Ho. ot S|ares tor L||uteo LÞS atter cons|oer|ng
Þotent|a| equ|ty s|ares to be converteo trom
warrants ano o||ute enect ot outstano|ng stoc|
opt|ons
z¿p¿y¿vyy .,668,¸.¸
zq. LMÞLOYLL SHAÞL BASLo ÞAYMLN1
a) Lur|ng t|e year .oo8-.oo,, t|e Company |as tormu|ateo
Lmp|oyee Stoc| Opt|on Sc|eme (LSOS .oo8), t|e teatures
ot w||c| are as to||ows .
Scheme LSOS zoo8
Late ot Crant October .¸, .oo8
Humber ot opt|ons granteo .,,¸o,ooo
Lxerc|se Þr|ce per opt|on C :,.6¸
Late ot vest|ng ¯|e vest|ng w||| be as unoer .
.¸/ on Apr|| ¸o, .o:o
.¸/ on Apr|| ¸o, .o::
.¸/ on Apr|| ¸o, .o:.
.¸/ on Apr|| ¸o, .o:¸
Lxerc|se Þer|oo v|t||n ¸ years trom t|e oate ot
respect|ve vest|ng.
|et|oo ot sett|ement ¯|roug| a||otment ot one Lqu|ty S|are
tor eac| opt|on granteo.
b) lntr|ns|c va|ue |et|oo |as been useo to account tor t|e
emp|oyee s|are baseo payment p|ans. ¯|e |ntr|ns|c va|ue ot
eac| stoc| opt|on granteo unoer t|e LSOS .oo8 p|an |s C H||
s|nce t|e mar|et pr|ce ot t|e unoer|y|ng s|are at t|e grant
oate was same as t|e exerc|se pr|ce ano consequent|y t|e
account|ng va|ue ot t|e opt|on (compensat|on cost) |s C H||.
c) lurt|er oeta||s ot t|e stoc| opt|on p|ans LSOS .oo8 |s as
to||ows .
Þarticulars
zovo-vv .oo,-:o
Opt|ons Outstano|ng at start ot year
z6,oy,ooo .,,¸o,ooo
Opt|ons Cranteo our|ng t|e year
Nil H||
Opt|ons Lapseo our|ng t|e year
Nil :,,¸,ooo
Opt|ons Lxerc|seo our|ng t|e year
z¿,yz,yoo H||
Opt|ons vesteo but not exerc|seo at eno ot year
Nil H||
Opt|ons not vesteo at eno ot year
z,¿z,yoo .6,o¸,ooo
ve|g|teo Average Lxerc|se Þr|ce per Opt|on
C vq.6y C :,.6¸
o) ¯|e 3|ac|-Sc|o|es-|ertons Opt|on Þr|c|ng |ooe| |ave been
useo to oer|ve t|e est|mateo va|ue ot stoc| opt|on granteo
|t t|e ta|r va|ue met|oo to account tor t|e emp|oyee s|are
baseo payment p|ans were to be useo. ¯|e est|mateo va|ue
ot eac| stoc| opt|ons ano t|e parameters useo tor oer|v|ng
t|e est|mateo va|ue ot Stoc| Opt|on granteo unoer 3|ac|-
Sc|o|es-|ertons Opt|on Þr|c|ng |ooe| |s as to||ows.
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
¸z
Notes formlng µart of the Accounts
Þarticulars
LSOS zoo8 - vesting on April ¿o,
.o:o zovv .o:. .o:¸
Lst|mateo va|ue ot Stoc| Opt|ons
(C)
6.6, y.z6 8.o¸ 8.66
S|are Þr|ce at Crant Late (C) :,.6¸ vq.6y :,.6¸ :,.6¸
Lxerc|se Þr|ce (C) :,.6¸ vq.6y :,.6¸ :,.6¸
Lxpecteo vo|at|||ty (/) ¸8.,,/ yq.y¿% ¸,.,6/ ¸¸.,:/
L|v|oeno /|e|o late (/) o..8/ o.z8% o..8/ o..8/
Lxpecteo L|te ot Opt|ons(|n years) ¸.o: q.ov ¸.o. 6.o.
l|s| lree late ot lnterest (/) ,.¸,/ y.6v% ,.6¸/ ,.,o/
e) lao t|e compensat|on cost tor t|e stoc| opt|ons granteo
unoer LSOS .oo8 been oeterm|neo on ta|r va|ue approac|,
t|e Company's net |oss ano earn|ng per s|are wou|o |ave
been as per pro torma amounts |no|cateo be|ow.
(C |n Crores)
Þarticulars zovo-vv .oo,-:o
Het Þront Atter ¯ax as reporteo v¿q.8o ¸:.::
Less . Amort|sat|on ot Compensat|on Cost
(pro torma)
{o.yy} (o.,6)
Het Þront cons|oereo tor comput|ng LÞS
(pro torma)
v¿q.oy ¸o.¸¸
Larn|ng Þer S|are - (3as|c)
- as reporteo y.6q ...,
- pro torma y.6oq ...,
Larn|ng Þer S|are - (L||uteo)
- as reporteo y.6¿ ..o,
- pro torma y.6ov ..o,
zy. oLlLÞÞLo 1AX
ln terms ot t|e prov|s|ons ot t|e Account|ng Stanoaro..
°Account|ng tor ¯axes on lncomeº not|neo by Compan|es
(Account|ng Stanoaros) lu|es, .oo6, t|ere |s a net oeterreo tax
asset on account ot accumu|ateo bus|ness |osses ano unabsorbeo
oeprec|at|on.
ln comp||ance w|t| prov|s|ons ot Account|ng Stanoaro ano baseo
on Cenera| Þruoence, t|e Company |as not recogn|seo t|e
oeterreo tax asset nor wr|tten bac| excess oeterreo tax ||ab|||ty,
w|||e prepar|ng t|e accounts ot t|e year unoer rev|ew.
z6. Sunory Lebtors, Sunory Creo|tors ano Loans ano Aovances |nc|uoe
certa|n accounts w||c| are subject to connrmat|on/reconc|||at|on
ano consequent|a| aojustments |t any, t|e enect ot w||c| |s not
ascerta|nab|e.
zy. olSCLOSuÞL lN ÞLSÞLC1 Ol
ÞÞOvlSlON lOÞ olSÞu1Lo MA11LÞS
¯|e Company |ao maoe prov|s|ons tor peno|ng o|sputeo matters
|n respect ot lno|rect ¯axes |||e Sa|es ¯ax, Lxc|se Luty ano Custom
Luty |n respect ot 3ranoeo Carment L|v|s|ons, t|e ||ab|||ty tor w||c|
may ar|se |n t|e tuture, t|e quantum w|ereot w||| be oeterm|neo as
ano w|en t|e matters are o|sposeo on.
lndirect 1axes (C |n Crores)
Þarticulars zovo-vv .oo,-:o
Open|ng 3a|ance o.oo ..8:
Aoo . Þrov|s|on maoe o.oo o.oo
Less . Þrov|s|on reverseo o.oo o.oo
Less . Aojustment oue to Lemerger o.oo ..8:
Closing Balance o.oo o.oo
z8. CA1LeOÞY-wlSL quAN1l1A1lvL oA1A ABOu1
oLÞlvA1lvL lNS1ÞuMLN1S Ou1S1ANolNe
Þarticulars Currency As at ¿vst March, zovv As at ¿vst March, zovo
ln Mn
Avg. Lx.
Þate
C in
Crores ln Mn
Avg. Lx.
Þate
C in
Crores
lorwaro Sa|es 0SL .6,.,6 ,,.¸¸,8 :.¸,.:8 ::6.,, ,,.8o8: ¸¸6.8,
L0l ¸.¸8 6,.oo6: ...8, o o o
C3Þ o.6¸ ,,.¸¸o, ,.,o :.¸o ,o.,:o¸ :o.¸¸
lorwaro Þurc|ase 0SL o o o ¸.68 ,,.,,.6 .,.:6
Opt|on Lea|s 0SL :o6.8o ,8.¸¸o8 ¸:8.¸. ¸,.¸o ,8.,¸,¸ .6¸.oo
¯|e Company |as borroweo |ong term as we|| as s|ort term Loans
|n lore|gn currency but as t|e Company |s net tore|gn currency
surp|us Company, t|ere |s no un|eogeo exposure |n tore|gn
currency.
¸¸
Notes formlng µart of the Accounts
zp. AC1uAL ÞÞOouC1lON
Class of eoods unit of
quantity
zovo-vv
quantity
ln Crores
.oo,-:o
Quant|ty
|n Crores
C|ot| * |eters v¿.8z :..¸8
C|ot| ** kgs o.¿z o..:
/arn *** kgs o.ov o.:,
LÞA3X L|nes o.oz o.o.
Carments**** Þcs. v.zp :.8,
/arn _ kgs o.o8 o.o6
Crey _ |eters o.o6 o.o8
Crey _ kgs {qq¿¿v} (¸8oo8)
* Het ot |nterna| consumpt|on ot o.,¸ Crores (o.¸, Crores) |eters
** Het ot |nterna| consumpt|on ot o.:o Crores (o..¸ Crores) kgs
*** Het ot |nterna| consumpt|on ot o.6, Crores (o.68 Crores) kgs
**** lnc|uoes Carments proouceo outs|oe t|e Company by !ob
wor|ers, Het ot lnterna| Consumpt|on ot (,,,,8) Þcs.
_ Sem| Þrocesseo Cooos meant tor Sa|e.
Note :
Quant|ty ot c|ot| s|own |n open|ng stoc|, proouct|on 8 c|os|ng
stoc| |s pac|eo c|ot| on|y ano ooes not |nc|uoe |oose nn|s|eo c|ot|
|y|ng |n to|o|ng/ stamp|ng oepartment.
¿o. ||n|stry ot Corporate Atta|rs, Hew Le||| |as |ssueo not|t|cat|on
S.O. ¸o: (L) oateo lebruary 8, .o:: grant|ng exempt|on trom
o|sc|osure requ|rements ot paragrap|s ¸ (|) (a), ¸ (||) (a), ¸ (||)
(b) ano ¸ (||) (o) ot Þart- ll ot Sc|eou|e vl ot t|e Compan|es Act,
:,¸6. ¯|e Company ta||s unoer t|e category ot Lxport Or|enteo
Company as oet|neo |n t|e not|t|cat|on (w|ose export |s more
t|an .o/ ot t|e turnover), |ence t|e 3oaro ot L|rectors |as
g|ven consent w|t| regaro to non o|sc|osure ot t|e above
ment|oneo |ntormat|on. ln v|ew ot above, t|e Company |as not
o|sc|oseo t|e sa|o |ntormat|on |n t|e t|nanc|a| statement.
¿v. lNS1ALLLo CAÞACl1Y
Þarticulars zovo-vv .oo,-:o
Sp|no|es yz8yz 8o6,,
lotors yqyz ¸,,.
St|tc||ng |ac||nes o 6,8
kn|tt|ng |ac||nes vv6 ::6
Looms vv6z ,¸:
LÞA3X/lAX System L|nes zooooo .ooooo
Carments (Þcs.) v¿vzoooo :.,ooooo
Notes :
:. ¯|e Company |s exempt trom t|e ||cens|ng prov|s|ons ot t|e
lnoustr|a| (Leve|opment 8 legu|at|on) Act, :,¸:.
.. lnsta||eo Capac|ty |s as cert|neo by t|e management ano re||eo upon
by t|e auo|tors, be|ng a tec|n|ca| matter.
¿z. C.l.l. vALuL Ol lMÞOÞ1S
(C |n Crores)
zovo-vv .oo,-:o
(a) Cap|ta| Cooos q8.y8 6.¸¸
(b) Lyes 8 C|em|ca|s , Stores ano Spares Þarts 66.yq ,,.,6
(c) law |ater|a|s 8 Accessor|es yy.zz 8o.,,
¿¿. LXÞLNol1uÞL lN lOÞLleN CuÞÞLNCY (C |n Crores)
zovo-vv .oo,-:o
(a) lnterest ¿z.o8 ¸,.o,
(b) Comm|ss|on vv.oq ¸.,6
(c) Þrotess|ona| ano Consu|tat|on lees v.pv :.8,
(o) Ot|er |atters vy.yy :,.,,
1otal 6o.8o ¸,.,:
¿q. CONSuMÞ1lON Ol lMÞOÞ1Lo ÞAw MA1LÞlALS ANo
SÞAÞLS (C |n Crores)
zovo-vv zoop-vo
Þaw materials Spares Þaw materials Spares
lmporteo 6y.y¿ vy.y6 :¸¸.,, ::.¸8
y.z¿% zo.68% :¸.,,/ ¸o.¸¸/
lno|genous vzzz.6z 6o.qy 8¸¸.., .¸.,.
pq.yy% yp.¿z% 86..¸/ 6,.,,/
1otal vzpo.vy y6.zv ,68.,¸ ¸,.¸o
voo% voo% :oo/ :oo/
¿y. ÞLMl11ANCLS lN lOÞLleN CuÞÞLNCY ON ACCOuN1 Ol
olvloLNoS
zovo-vv .oo,-:o
(a) /ear to w||c| t|e o|v|oeno re|ates N.A. H.A
(b) Humber ot non- res|oent s|are|o|oers to
w|om rem|ttances were maoe
Nil H||
(c) Humbers ot s|ares on w||c| rem|ttances
were maoe
Nil H||
(o) Amounts rem|tteo C Nil H||
¿6. LAÞNlNe lN lOÞLleN LXCHANeL (C |n Crores)
zovo-vv .oo,-:o
Lxport ot gooos on lO3 bas|s vv¿y.y8 :o6:.,6
¿y. l|gures |ess t|an ¸o,ooo, w||c| are requ|reo to be s|own separate|y,
|ave been s|own as actua| |n brac|ets.
¿8. Þrev|ous year's ngures are s|own |n brac|ets ano are regroupeo or
recast w|erever necessary to ma|e t|em comparab|e w|t| t|ose ot
t|e current year.
S|gnatures to Sc|eou|es : to :6
SAN1AY S. LALBHAl
As per our report attac|eo C|a|rman 8 |anag|ng L|rector
lor Sorab S. Lngineer 8 Co. 1AYLSH k. SHAH
l|rm leg|strat|on Ho. ::o,:,v L|rector 8 C||et l|nanc|a| Omcer
C|artereo Accountants
CA.N. o. Anklesaria Þ. v. BHlMANl
Þartner Company Secretary
A|meoabao, .ot| |ay, .o::
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
¸µ
8alance Sheet Abstract and Comµany`s General 8uslness Þroñle :
v Þegistration oetails :
leg|strat|on Ho. L:,::,C!:,¸:ÞLCoooo,¸ State Cooe o,
3a|ance S|eet Late ¸:.o¸..o::
z Capital Þaised ouring the period : { Amount in C 1housand}
Þub||c lssue H|| l|g|t lssue H||
3onus lssue H|| Þr|vate Þ|acement ..,,..¸
¿ Þosition of Mobilisation and oeployment of lunds : { Amount in C1housand}
¯ota| L|ab|||t|es ¸6,.o,,¸,, ¯ota| Assets ¸6,.o,,¸,,
Sources of lunds : Application of lunds :
Þa|o up Cap|ta| .,¸,,,oo¸ Het l|xeo Assets .:,,,.,,:¸
leserves 8 Surp|us :¸,,::,::¸ lnvestments ¸,o,¸,8,o
Secureo Loans :,,6¸.,.,o
lore|gn Currency |onetary ltem
¯rans|at|on L|nerence Account
(,,,8,)
0nsecureo Loans ,88,,¸. Het Current Assets ::,6,¸,,6:
Leterreo ¯ax L|ab|||ty :.8,.¸, ||sce||aneous Lxpeno|ture H||
q Þerformance of Company : {Amount in C 1housand}
¯urnover .6,o¸¸,¸,8 ¯ota| Lxpeno|ture .¸,,o,,.,¸
Þront betore tax :,¸,8,o¸: Þront atter tax :,¸,8,o¸:
Larn|ng per S|are - 3as|c (C) ¸.6,
Larn|ng per S|are -L||uteo (C) ¸.6¸
L|v|oeno late H||
y eeneric Names of Þrincipal Þroducts, Services of the Company :
ltem Cooe Ho. (l¯C Cooe) ¸.o,,.oo Þroouct Lescr|pt|on Len|m
ltem Cooe Ho. (l¯C Cooe) ¸.o8oooo Þroouct Lescr|pt|on
voven labr|cs ot Cotton
we|g|t|ng not more t|an
.oo g/m
.
ltem Cooe Ho. (l¯C Cooe) 6.o¸,.oo Þroouct Lescr|pt|on
|ens/3oys ¯rousers/pants 8
s|orts
ltem Cooe Ho. (l¯C Cooe) 6.o¸.ooo Þroouct Lescr|pt|on |ens/3oys s||rts
SAN1AY S. LALBHAl Chalrman 8 Vanaglng Olrector
1AYLSH k. SHAH Olrector 8 Chlef llnanclal Ohcer
Ahmedabad, zoth Vay, zo¡¡ Þ. v. BHlMANl Comµany Secretary
S¯A¯L|LH¯ Þ0lS0AH¯ ¯O ÞAl¯ lv Ol SClLL0LL vl ¯O ¯lL CO|ÞAHlLS AC¯, :,¸6
¸¸
Audltors` Þeµort
1O 1HL BOAÞo Ol olÞLC1OÞS Ol AÞvlNo LlMl1Lo ON 1HL
CONSOLloA1Lo llNANClAL S1A1LMLN1S Ol AÞvlNo LlMl1Lo,
l1S SuBSlolAÞlLS ANo 1OlN1 vLN1uÞLS.
:. ve |ave exam|neo t|e attac|eo Conso||oateo 3a|ance S|eet ot
Arvind Limited ano |ts subs|o|ar|es ano !o|nt ventures (°Arv|no
Croupº) (exc|uo|ng ¸ subs|o|ar|es tor t|e reasons stateo |n Hote Ho.
¸ ot Sc|eou|e :,) as at ¸:st |arc| .o::, t|e Conso||oateo Þront ano
Loss Account ano a|so t|e Conso||oateo Cas| l|ow Statement tor
t|e year t|en enoeo.
.. ¯|ese conso||oateo nnanc|a| statements are t|e respons|b|||ty ot
t|e Company's management. Our respons|b|||ty |s to express an
op|n|on on t|ese nnanc|a| statements baseo on our auo|t. ve |ave
conoucteo our auo|t |n accoroance w|t| t|e genera||y accepteo
auo|t|ng stanoaros |n lno|a. ¯|ese Stanoaros requ|re t|at we p|an
ano pertorm t|e auo|t to obta|n reasonab|e assurance w|et|er
t|e nnanc|a| statements are prepareo, |n a|| mater|a| respects, |n
accoroance w|t| an |oent|neo nnanc|a| report|ng tramewor| ano
are tree ot mater|a| m|sstatement. An auo|t |nc|uoes, exam|n|ng on
a test bas|s, ev|oence support|ng t|e amounts ano o|sc|osures |n t|e
nnanc|a| statements. An auo|t a|so |nc|uoes assess|ng t|e account|ng
pr|nc|p|es useo ano s|gn|ncant est|mates maoe by management, as
we|| as eva|uat|ng t|e overa|| nnanc|a| statements. ve be||eve t|at
our auo|t prov|oes a reasonab|e bas|s tor our op|n|on.
¸. ve o|o not auo|t t|e nnanc|a| statements ot seven Subs|o|ar|es
ano two !o|nt venture Lnt|t|es w|ose nnanc|a| statements renect
(betore g|v|ng enect to t|e conso||oat|on aojustments) tota| Assets
ot C .¸:.¸: Crores as at ¸:st |arc| .o:: ano tota| levenue ot C :¸..o:
Crores tor t|e year t|en enoeo. ¯|ese l|nanc|a| Statements |ave
been auo|teo by ot|er auo|tors w|ose reports |ave been turn|s|eo
to us ano our op|n|on, |n so tar as |t re|ates to t|e amount |nc|uoeo
|n respect ot t|ese subs|o|ar|es, |s baseo so|e|y on t|e report ot t|e
ot|er auo|tors.
,. ve o|o not auo|t t|e nnanc|a| statements ot t|ree !o|nt venture
Lnt|t|es w|ose nnanc|a| statements renect (betore g|v|ng enect to
t|e conso||oat|on aojustments) tota| Assets ot C :o:.8, Crores as
at ¸:st |arc| .o:: ano tota| levenue ot C :,:.,. Crores tor t|e year
t|en enoeo w||c| were prepareo by t|e management. ¯|e same
|as been cons|oereo tor t|e purpose ot conso||oat|on ano accepteo
as correct by us. Any aojustment to t|e|r ba|ances on comp|et|on ot
auo|t cou|o |ave consequent|a| enect on t|e attac|eo Conso||oateo
l|nanc|a| Statements.
¸. As ment|oneo |n Hote Ho. :, ot sc|eou|e :, |n respect ot ear|y
aoopt|on by Arv|no L|m|teo (lo|o|ng Company) ot Account|ng
Stanoaro (AS) ¸o on 'l|nanc|a| lnstruments. lecogn|t|on ano
|easurement' ano L|m|teo rev|s|on ar|s|ng out ot |t |n ot|er
Account|ng Stanoaros, |ssueo by t|e lnst|tute ot C|artereo
Accountants ot lno|a, t|e |o|o|ng company |as measureo a|| |ts
l|nanc|a| Assets ano L|ab|||t|es at t|e|r respect|ve la|r va|ues or
at Amort|zeo Cost. Accoro|ng|y, Account|ng Stanoaro (AS):¸ on
'Account|ng tor lnvestments' ano Account|ng Stanoaro (AS) ::
on '¯|e Lnects ot C|anges |n lore|gn Lxc|ange lates' |ave been
to||oweo on|y tor t|ose transact|ons w||c| are not w|t||n t|e scope
ot Account|ng Stanoaro (AS) -¸o. lao t|e Company to||oweo (AS)
:: ano (AS) :¸ |n t|e|r ent|rety, t|e carry|ng amount ot lnvestments,
Secureo Loans ano 0nsecureo Loans wou|o |ave been ||g|er by
C ¸.., Crores, C ..,: Crores ano C ¸.o¸ Crores respect|ve|y ano
carry|ng va|ue ot leoge leserve wou|o |ave been |ower by C ¸:.8,
Crores respect|ve|y.
6. ve report t|at t|e conso||oateo nnanc|a| statements |ave been
prepareo by t|e Company |n accoroance w|t| t|e requ|rements ot
Account|ng Stanoaro (AS) .:, 'Conso||oateo l|nanc|a| Statements
ano Account|ng tor lnvestments |n Subs|o|ar|es |n Separate l|nanc|a|
Statements' w|t| reterence to note ment|oneo |n para ¸ above ano
Account|ng Stanoaro (AS) .,, 'l|nanc|a| leport|ng ot lnterests |n
!o|nt ventures', not|neo by Compan|es (Account|ng Stanoaros)
lu|es, .oo6 ano on t|e bas|s ot t|e separate auo|teo nnanc|a|
statements ot t|e Arv|no Croup |nc|uoeo |n t|e conso||oateo
nnanc|a| statements.
,. On t|e bas|s ot t|e |ntormat|on ano exp|anat|ons g|ven to us, ano
on t|e cons|oerat|on ot t|e separate auo|t reports on |no|v|oua|
auo|teo nnanc|a| statements ot t|e Arv|no Croup, we are ot t|e
op|n|on t|at .
(a) t|e Conso||oateo 3a|ance S|eet g|ves a true ano ta|r v|ew ot
t|e conso||oateo state ot ana|rs ot t|e Arv|no Croup as at ¸:st
|arc|, .o::,
(b) t|e Conso||oateo Þront ano Loss Account g|ves a true ano ta|r
v|ew ot t|e conso||oateo resu|ts ot operat|ons ot t|e Arv|no
Croup tor t|e year t|en enoeo ano
(c) t|e Conso||oateo Cas| l|ow Statement g|ves a true ano ta|r
v|ew ot t|e conso||oateo cas| nows ot t|e Arv|no Croup tor
t|e year t|en enoeo.
lor SOÞAB S. LNelNLLÞ 8 CO.
l|rm leg|strat|on Ho. ::o,:,v
C|artereo Accountants
CA. N. o. ANkLLSAÞlA
Þartner
A|meoabao, |ay .o, .o:: |embers||p Ho. :o.¸o
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
¸õ
Consolldated 8alance Sheet as at ¸¡st Varch, zo¡¡
C in Crores C |n Crores
Sc|eou|e
As at
¿v.o¿.zovv
As at
¸:.o¸..o:o
SOuÞCLS Ol luNoS
Shareholders' lunds
S|are Cap|ta| : zyq.qo .¸,.¸¸
leserves ano Surp|us . vqqo.qq :o,¸.,¸
v6pq.8q :.8¸.,8
Minority lnterest v6.oy :,.o,
Loan lunds
Secureo Loans ¸ zv¿q.o8 .o:,.,,
0nsecureo Loans , yy.ov :8:.8,
zzvv.op ..o:.6,
oeferred 1ax Liability {Net} zv.yp :¸.,,
1otal ¿pq¿.yy ¸¸:..6¸
AÞÞLlCA1lON Ol luNoS
lixed Assets ¸
Cross 3|oc| qoyz.88 ¸8¸6.o:
Less. Leprec|at|on/lmpa|rment vyqy.¿6 :,o,.8o
Het 3|oc| zyzy.yz .,¸:..:
Cap|ta| wor|-|n-progress vyy.qp ¸,.88
z68y.ov .,8,.o,
lnvestments 6 qq.oq ,¸.,¸
loreign Currency Monetary ltem 1ranslation
oiherence Account (Hote Ho. :¸) {o.yy} (:.o6)
Current Assets, Loans 8 Advances ,
lnventor|es vz¿8.yv 8o:..¸
Lano le|o tor Sa|e ¿q.yo o.oo
Sunory Lebtors yov.zz ,.¸.,.
Cas| ano 3an| 3a|ances y8.8v ¸,.6¸
Ot|er Current Assets vo8.p8 :o¸.88
Loans ano Aovances ¿¿y.o6 .8¸.,,
zzyp.o8 :6,6.6,
Less:Current Liabilities and Þrovisions 8
L|ab|||t|es voq8.vy 68¸.o8
Þrov|s|ons vy.yz :o.,.
vo6¿.8y 6,¸.8o
Net Current Assets vzvy.zv ,8o.8,
Miscellaneous Lxpenditure , o.o6 o.oo
(¯o t|e extent not wr|tten on)
1otal ¿pq¿.yy ¸¸:..6¸
Hotes lorm|ng Þart ot Accounts :,
As µer our reµort attached SAN1AY S. LALBHAl Chalrman 8 Vanaglng Olrector
lor SOÞAB S. LNelNLLÞ 8 CO.
llrm Þeglstratlon No. ¡¡oµ¡;W
Chartered Accountants
1AYLSH k. SHAH Olrector 8 Chlef llnanclal Ohcer
CA. N. o. ANkLLSAÞlA
Þartner
Ahmedabad, Vay zo, zo¡¡ Þ. v. BHlMANl Comµany Secretary
¸;
Consolldated Þroñt and Loss Account for the year ended on ¸¡st Varch, zo¡¡
C in Crores C |n Crores
Sc|eou|e
zovo-vv .oo,-:o
lNCOML :
Sa|es
qo6¿.zq ¸.¸,.¸,
Less . Lxc|se Luty
qv.pp .,.:o
qozv.zy ¸.o,..,
Operat|ng lncome :o
68.q¿ ¸¸.,,
Ot|er lncome ::
¿y.zo .:.,6
qvz6.88 ¸.8..6,
LXÞLNSLS :
law |ater|a|s ano Accessor|es Consumeo
vypp.yp :.o..86
Þurc|ase ot l|n|s|eo gooos
qqo.¿6 .,:.¸,
Lmp|oyees' Lmo|uments :.
¿pq.y8 ¸,:.6,
Ot|ers :¸
vz6p.py :o¸8.66
lnterest 8 l|nance Costs (Het) :,
zqy.vo .::.6,
Leprec|at|on ¸
vyz.qp :,..,o
(lncrease) |n Stoc|s :¸
{vyv.qy} (¸.,¸)
¿pyv.oz ¸.¸¸.¸,
Þroñt before 1axes for the year
vyy.86 ,,.:¸
Less . Current ¯ax
¿¿.zv :,.,,
Less . Leterreo ¯ax
8.pz (:..:,)
Less . lr|nge 3enent ¯ax
o.oo o.o:
Aoo . |A¯ Creo|t Lnt|t|ement
{¿v.6z} (8.,,)
Þroñt for the year
v6y.¿y ¸¸.::
Aoo . Lxcess Þrov|s|on tor ¯axat|on wr|tten bac|
o.oo o.o,
Aoo . Þr|or Þer|oo lncome/(Lxpense) :6
o.oo (o.:,)
Þroñt before Minority lnterest
v6y.¿y ¸¸.o6
Less . S|are ot ||nor|ty lnterest
o.q8 ¸.::
v6q.8y ,,.,¸
3a|ance as per |ast year's 3a|ance S|eet
8z.pz ¸,.,o
Aoo/(Less) . Aojustment on account ot Conso||oat|on/Lemerger
6.zv (:.¸,)
Het 3a|ance
8p.v¿ ¸¸.o¸
lnter|m L|v|oeno Þa|o on Þreterence S|ares
o.oo (o.,6)
¯ax on lnter|m L|v|oeno
o.oo (o.:¸)
¯ax on Þroposeo L|v|oeno
{o.o6} (o.o6)
¯ransterreo to Cap|ta| leserve - Þre-acqu|s|t|on Þront
o.oo (o.¸:)
¯ransterreo to Spec|a| leserve
{o.zo} o.oo
¯ransterreo to Cap|ta| leoempt|on leserve
o.oo (:,.8o)
¯ransterreo trom Lebenture leoempt|on leserve
o.po :..o
zyq.6q 8..,.
3a|ance carr|eo to 3a|ance S|eet
zyq.6q 8..,.
zyq.6q 8..,.
Larn|ng Þer S|are C (lace va|ue ot C :o/-) (Hote Ho. .,)
- 3as|c
6.8p ..:8
- L||uteo
6.8p :.,,
Hotes lorm|ng Þart ot Accounts :,
As µer our reµort attached SAN1AY S. LALBHAl Chalrman 8 Vanaglng Olrector
lor SOÞAB S. LNelNLLÞ 8 CO.
llrm Þeglstratlon No. ¡¡oµ¡;W
Chartered Accountants
1AYLSH k. SHAH Olrector 8 Chlef llnanclal Ohcer
CA. N. o. ANkLLSAÞlA
Þartner
Ahmedabad, Vay zo, zo¡¡ Þ. v. BHlMANl Comµany Secretary
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
¸8
Consolldated Cash llow Statement for the year ended on ¸¡st Varch, zo¡¡
C ln Crores C ln Crores
zovo-zovv .oo,-.o:o
A. CASH lLOw lÞOM OÞLÞA1lNe AC1lvl1lLS
Het Þront betore extraoro|nary |tems vyy.86 ,,.:¸
Aojustments tor.
Leprec|at|on/lmpa|rment vyz.qp :,..,o
letrenc|ment Compensat|on unoer vlS o.oo (o.:¸)
Þre||m|nary Lxpenses {o.o6} o.:.
lnterest lncome {vy.6v} (....6)
lnterest Lxpenses zvq.vy .¸..¸6
lncome trom lnvestments {o.zy} (o.:,)
Lxc|ange late L|nerence {6.oy} (:¸.¸:)
Loss on Sa|e ot lnvestments o.vo o.oo
3ao Lebts / Aovances vr|tten On o.v¿ o..¸
Sunory Leb|t/(Creo|t) vr|tten On 6.vo (o.¸,)
l|xeo Assets vr|tten On o.yz o.¸o
Þrov|s|on tor Loubttu| oebts v.vp o.oo
Þr|or Þer|oo lncome / (Lxpense) o.oo (o.:,)
Lxc|se Luty o.oo (6.¸:)
Þront on Sa|e ot l|xeo Assets {¿o.vz} (,.8:)
¿qo.yp ¸¸o.,,
Operating Þroñt before working Capital Changes yv6.qy ¸,,.,,
working Capital Changes:
C|anges |n lnventor|es {qyy.y¿} (6,.,,)
C|anges |n ¯raoe ano Ot|er lece|vab|es {8p.vy} (::¸.8¸)
C|anges |n Current L|ab|||t|es ¿6y.op .¸,.¸,
Net Changes in working Capital {vyp.6v} ,6..,
Cash eenerated lrom Operations ¿¿6.8q ,,,..:
Aovance ¯ax ano lr|nge 3enent ¯ax Þa|o (Het ot lncome ¯ax letuno) {¿o.qp} (:6.,6)
Net Cash from Operating Activities ¿o6.¿y ,¸,.,¸
B. Cash llow from lnvesting Activities
Þurc|ase ot l|xeo Assets {zyo.y6} (:6¸.o,)
Sa|e Þroceeos trom l|xeo Assets vvz.8z ¸¸.,6
C|anges |n lnvestments q.y¿ (.¸.,,)
C|anges |n Loans 8 Aovances {zz.vy} ,.,:
lncome trom lnvestments o.zy o.:,
lnterest lncome vy.y6 ....¸
Net Cash llow from lnvesting Activities {v¿y.yy} (:.,.,,)
C. Cash llow from linancing Activities
lssue ot Lqu|ty S|ares vq.pv :¸.oo
leoempt|on ot Þreterence S|are Cap|ta| o.oo (:,.8o)
S|are Þrem|um lece|veo vv.v¿ 6.¸o
lssue ot varrants o.oo ,.¸,
lnter|m L|v|oeno on Þreterence S|ares o.oo (o.,6)
¯ax on lnter|m L|v|oano {o.o6} (o.:¸)
C|ange |n 3orrow|ngs v8.yq (8¸.8,)
lnterest Þa|o {zv¿.pq} (.¸..86)
Net Cash llow from linancing Activities {v6p.qz} (¸:o.¸,)
Net lncrease[{oecrease} in Cash 8 Cash Lquivalents {o.8q} :,.,,
Cas| 8 Cas| Lqu|va|ent at t|e beg|nn|ng ot t|e Þer|oo yp.6y ¸,.66
Aojustment oue to Conso||oat|on o.oo o.o¸
yp.6y ¸,.,:
Cas| ano Cas| Lqu|va|ent at t|e eno ot t|e Þer|oo y8.8v ¸,.6¸
Hotes to Cas| l|ow Statement (leter Sc|eou|e :,, Hote .o)
As µer our reµort attached SAN1AY S. LALBHAl Chalrman 8 Vanaglng Olrector
lor SOÞAB S. LNelNLLÞ 8 CO.
llrm Þeglstratlon No. ¡¡oµ¡;W
Chartered Accountants
1AYLSH k. SHAH Olrector 8 Chlef llnanclal Ohcer
CA. N. o. ANkLLSAÞlA
Þartner
Ahmedabad, Vay zo, zo¡¡ Þ. v. BHlMANl Comµany Secretary
¸p
Schedules formlng µart of Consolldated Accounts
C in Crores C |n Crores
As at
¿v.o¿.zovv
As at
¸:.o¸..o:o
SCHLouLL 'v': SHAÞL CAÞl1AL
Au1HOÞlSLo
¸6,oo,oo,ooo Lqu|ty S|ares (Þrev|ous /ear ¿6o.oo ¸6o.oo
¸6,oo,oo,ooo) ot C:o/-eac|
,o,oo,ooo Þreterence S|ares (Þrev|ous /ear po.oo ,o.oo
,o,oo,ooo) ot C:oo/- eac|
qyo.oo ,¸o.oo
lSSuLo 8 SuBSCÞlBLo
Lqul1Y SHAÞLS
.¸,,,,oo,o,: Lqu|ty S|ares (Þrev|ous /ear zyq.qo .¸:.,8
.¸,:,,,8,,,:) ot C:o/- eac|
zyq.qo .¸:.,8
ÞAlo uÞ (Hote Ho. ,)
Lqul1Y SHAÞLS
.¸,,¸,,,,:,: Lqu|ty S|ares (Þrev|ous /ear zyq.qo .¸:.,8
.¸,:,,,,,¸,:) ot C:o/- eac| tu||y pa|o up
Aoo . ,oo S|ares lorte|teo
(Þa|o-up amount ot C ,,¸oo/- (Þrev|ous /ear C ,,¸oo/-)
on torte|teo s|ares)
(ot t|e above s|ares ¸,,,,,,¸o Lqu|ty s|ares |ave
been a||otteo as tu||y pa|o 3onus S|ares ( Þrev|ous
/ear ¸,,,,,,¸o Lqu|ty S|ares) by way ot
cap|ta||zat|on ot leserves ano :6,:.,.68 Lqu|ty
s|ares (Þrev|ous /ear :6,:.,.68 Lqu|ty s|ares)
a||otteo as tu||y pa|o |n terms ot sc|eme ot
Ama|gamat|on w|t|out payment be|ng rece|veo |n cas|.)
wAÞÞAN1S o.oo ,.¸,
HlL varrants (Þrev|ous /ear
.,o.,oo,ooo varrants ot C :¸/- eac|, Þa|o up C ¸.,¸ eac|)
zyq.qo .¸,.¸¸
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
õo
Schedules formlng µart of Consolldated Accounts
C in Crores C |n Crores
As at
¿v.o¿.zovv
As at
¸:.o¸..o:o
SCHLouLL 'z' : ÞLSLÞvLS ANo SuÞÞLuS
CAÞl1AL ÞLSLÞvL
As per |ast 3a|ance S|eet zp.pv 8.o8
Aoo . Aoo|t|on our|ng t|e year (Hote Ho.,) o.o6 .:.¸.
Aoo . Aojustment on account ot conso||oat|on o.oo o.¸:
zp.py .,.,:
CAÞl1AL ÞLSLÞvL ON CONSOLloA1lON
As per Last 3a|ance S|eet z8.¿y .8.¸¸
z8.¿y .8.¸¸
lOÞLleN CuÞÞLNCY 1ÞANSLA1lON ÞLSLÞvL
As per Last 3a|ance S|eet {o.yo} (o.86)
Less . Aojustment on account ot conso||oat|on o.o¿ o.¸6
{o.qy} (o.¸o)
CAÞl1AL ÞLoLMÞ1lON ÞLSLÞvL
As per Last 3a|ance S|eet 6p.yo ,,.,o
Aoo . ¯ransterreo trom Þront 8 Loss Account o.oo :,.8o
6p.yo 6,.¸o
SHAÞL ÞÞLMluM ACCOuN1
As per |ast 3a|ance S|eet yzo.yq ,¸:.¸.
Aoo . lece|veo our|ng t|e year vv.v¿ 6.¸o
y¿v.6y ,¸8.o.
Less . 0t|||seo our|ng t|e year (Hote Ho.:¸) zo.zy ¸,.,8
yvv.qz ,.o.¸,
oLBLN1uÞL ÞLoLMÞ1lON ÞLSLÞvL
As per |ast 3a|ance S|eet o.po ..:o
Less . ¯ransterreo to Þront 8 Loss Account o.po :..o
o.oo o.,o
ÞLvALuA1lON ÞLSLÞvL
As per |ast 3a|ance S|eet 8o.6y .,.¸.
Aoo . Aoo|t|on our|ng t|e year (Hote Ho.::) z¿o.p8 ¸6.:¸
¿vv.6y 8o.6,
Less . 0t|||seo our|ng t|e year y.yp o.oo
¿oy.86 8o.6,
HLoeL ÞLSLÞvL (Hote Ho.:,)
As per |ast 3a|ance S|eet ¿¿.zp (:o6.,:)
Aoo . Aoo|t|on our|ng t|e year {v.qo} :¸,.,o
¿v.8p ¸¸..,
lNvLS1MLN1 ÞLvALuA1lON ÞLSLÞvL (Hote Ho.:,)
As per |ast 3a|ance S|eet {v.6y} (,.::)
Aoo . Aoo|t|on our|ng t|e year q.pq ..,6
¿.zp (:.6¸)
eLNLÞAL ÞLSLÞvL
As per |ast 3a|ance S|eet o.oo o.oo
Aoo . Aoo|t|on our|ng t|e year y.yp o.oo
y.yp o.oo
SÞLClAL ÞLSLÞvL
As per |ast 3a|ance S|eet o.oo o.oo
Aoo . Aoo|t|on our|ng t|e year o.zo o.oo
o.zo o.oo
BALANCL lN ÞÞOll1 ANo LOSS ACCOuN1 zyq.6q 8..,.
vqqo.qq :o,¸.,¸
õ¡
Schedules formlng µart of Consolldated Accounts
C in Crores C |n Crores
As at
¿v.o¿.zovv
As at
¸:.o¸..o:o
SCHLouLL '¿' : SLCuÞLo LOANS
oLBLN1uÞLS o.oo o.,o
o.oo o.,o
lÞOM BANkS
Cas| Creo|t ano ot|er tac|||t|es pyp.oq ,:,.¸o
¯erm Loans p¿q.y8 8¸6.,,
vpv¿.8z :,,,.o,
lÞOM llNANClAL lNS1l1u1lONS ANo O1HLÞS zzo.z6 .,,.8¸
zzo.z6 .,,.8¸
zv¿q.o8 .o:,.,,
SCHLouLL 'q' : uNSLCuÞLo LOANS
lÞOM BANkS
¯erm Loan o.oo ¸,.,,
Ot|er lac|||t|es z6.y8 ,¸.¸8
lÞOM llNANClAL lNS1l1u1lONS 8 O1HLÞS y.8o ¸.6,
oLlLÞÞLo LLLC1ÞlCl1Y ou1Y zz.68 .,.8¸
lN1LÞ COÞÞOÞA1L oLÞOSl1 zv.yy ¸¸.¸6
Out ot above C ,:.,, Crores ( C :.8... Crores) |s payab|e w|t||n
one /ear
yy.ov :8:.8,
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
õz
N
o
t
e
s

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Schedules formlng µart of Consolldated Accounts
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C in Crores C |n Crores
As at
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SCHLouLL '6' : lNvLS1MLN1S*
A. NON 1ÞAoL lNvLS1MLN1S - {uNquO1Lo}
{HLLo-1O-MA1uÞl1Y}
eOvLÞNMLN1 SLCuÞl1lLS {uNquO1Lo} o.oz o.o.
B. 1ÞAoL lNvLS1MLN1S {AvAlLABLL lOÞ SALL}
|. lu||y Þa|o Lqu|ty S|ares (Quoteo) vo.zz ¸..8
||. lu||y Þa|o Lqu|ty S|ares (0nquoteo) ¿.8y ,.88
|||. O1HLÞ lNvLS1MLN1S
lu||y Þa|o Lqu|ty S|ares ( Quoteo ) o.ov o.oo
lu||y Þa|o Lqu|ty S|ares ( 0nquoteo ) zz.oo ...oo
C. lNvLS1MLN1S lN SuBSlolAÞY COMÞANlLS (Hote Ho.¸)
lu||y Þa|o Lqu|ty S|ares ( 0nquoteo ) ¿y.zq ¸,.o¸
o. lNvLS1MLN1 lN ÞAÞ1NLÞSHlÞ llÞM** v.yp ¸.o¸
L. SHAÞL AÞÞLlCA1lON MONLY q.8o :.:8
yy.yy ,,.,,
Less . Þrov|s|on tor o|m|nut|on |n va|ue ot lnvestment ¿¿.yv ¸¸.,:
qq.oq ,¸.,¸
Note :
* Þrev|ous|y c|ass|neo as Long ¯erm lnvestments ano va|ueo at Cost
un|ess ot|erw|se stateo.
** ¯|e nnanc|a| statements ot partners||p nrm are unoer comp||at|on ano
t|eretore t|e ba|ance ot cap|ta| account o|sc|oseo above |s subject to c|ange.
SCHLouLL 'y' : CuÞÞLN1 ASSL1S, LOANS ANo AovANCLS
CuÞÞLN1 ASSL1S
lnventories
Stores ano Spares qq.pz ¸o.:8
lue| ¿.¿z ..:,
Stock-in-trade
law |ater|a|s ¿8¿.vq :,8.¸,
l|n|s|eo Cooos v88.yy :¸6.6,
l|n|s|eo Cooos (¯raoeo) zo8.8v :¸6.¸:
Cooos |n ¯rans|t 6.yy 8.:,
vor|-|n-Þrogress ¿66.8z .88.,¸
Þroject vor|-|n-Þrogress / |ater|a| vor| at S|te ¿¿.y¿ .,.,¸
vaste z.qy ..o8
vvpo.zy ,,8.86
vz¿8.yv 8o:..¸
Lano le|o tor Sa|e ¿q.yo o.oo
Sundry oebtors {unsecured}
Outstano|ng tor a per|oo exceeo|ng s|x mont|s
Cons|oereo Cooo qp.¿y .6.¸¸
Cons|oereo Loubttu| ¿.y8 ..86
Less.Þrov|s|on ¿.y8 ..86
o.oo o.oo
qp.¿y .6.¸¸
Ot|ers (Cons|oereo Cooo) qyv.8y ¸,,.¸,
yov.zz ,.¸.,.
Schedules formlng µart of Consolldated Accounts
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
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C in Crores C |n Crores
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SCHLouLL 'y' : CuÞÞLN1 ASSL1S, LOANS ANo AovANCLS (Conto.)
Cash 8 Bank Balances
Cas| on |ano v.zy :.¸.
C|eques on |ano o.oz :.:o
Bank Balances
with Scheduled Banks in lndia
ln Current Accounts ( |nc|uo|ng C o.¸¸ Crores |n unpa|o vq.8v ¸:.¸.
o|v|oeno accounts ) (C o.¸¸ Crores)
ln Lxc|ange Larners lore|gn Currency A/c o.vy o.o8
ln Cas| Creo|t Account 8.v8 ,.8.
ln Sav|ngs Account {C qy,8o8[-} (C ,.,,¸./-)
ln l|xeo Lepos|t Accounts ¿q.zq :¸.,o
(C .¸..o Crores |oogeo w|t| 3an| as Secur|ty tor Cuarantee
lac|||ty ano C o.o: Crores |oogeo w|t| Court tor LSl case
(C :..¸: Crores ano C o.o: Crores respect|ve|y)
with Banks outside lndia o.vq o.::
(ln boo|s ot tore|gn subs|o|ar|es)
yy.yz ¸,.o¸
y8.8v ¸,.6¸
Other Current Assets
lnterest accrueo o.qv o.¸6
Ot|er rece|vab|es vo8.yy :o¸.¸.
vo8.p8 :o¸.88
LOANS 8 AovANCLS {unsecured, Considered
eood unless stated Otherwise}
Loans 8 Advances
Aovances lece|vab|e |n Cas| or k|no zzq.y6 .oo.¸¸
|A¯ Creo|t Lnt|t|ement lece|vab|e 6o.q8 ¸,.88
Ot|er Loans q¿.8q ,¸.,o
¿zp.o8 .8:.¸:
Cons|oereo Loubttu| v.vy :.:,
Less . Þrov|s|on v.vy :.:,
o.oo o.oo
Loans ano Aovances to Subs|o|ary Compan|es
Cons|oereo Loubttu| y.pv ,.,:
Less . Þrov|s|on y.pv ,.,:
o.oo o.oo
Aovance ¯ax pa|o (Het ot ¯ax Þrov|s|on ot C 8,.8, Crores, y.p8 ,.68
(C ,,.,¸ Crores) ) ¿¿y.o6 .8¸.,,
zzyp.o8 :6,6.6,
Schedules formlng µart of Consolldated Accounts
õ¸
C in Crores C |n Crores
As at
¿v.o¿.zovv
As at
¸:.o¸..o:o
SCHLouLL '8': CuÞÞLN1 LlABlLl1lLS 8 ÞÞOvlSlONS
Current Liabilities
Acceptances v6z.q¿ :¸.,¸
Sunory Creo|tors
-Lue to ||cro ano Sma|| Lnterpr|ses (Hote Ho.:8) o.oo o.oo
-Ot|ers 6yz.¿v ¸.6.,¸
Ot|er L|ab|||t|es (Hote Ho.,) zvv.vy :,o.68
lnterest accrueo but not oue on Loans v.6z :.,:
lnvestor Loucat|on 8 Þrotect|on luno s|a||
be creo|teo by t|e to||ow|ng amounts name|y . _
- 0npa|o L|v|oeno o.¿¿ o.¸¸
- 0npa|o |atureo Lebentures o.z¿ o..¸
- lnterest on Lepos|ts o.o6 o.o6
- lnterest on Lebentures o.oo o.:,
o.6z o.8:
voq8.vy 68¸.o8
Þrovisions
¯ax on L|v|oeno o.o6 o.o6
Þens|on o.y6 o.,¸
Cratu|ty z.yy ..¸o
Superannuat|on v.6y o.:o
Leave Lncas|ment vo.6o 6.6.
Ot|ers o.o8 :.:,
vy.yz :o.,.
vo6¿.8y 6,¸.8o
_ Ho amount |s oue as on ¸:st |arc|, .o:: tor creo|t to lnvestor Loucat|on ano
Þrotect|on luno (luno). ¯|e actua| amount to be transterreo to t|e tuno |n t||s
respect w||| be oeterm|neo on t|e respect|ve oue oates.
SCHLouLL 'p': MlSCLLLANLOuS LXÞLNol1uÞL
(¯o t|e extent not wr|tten on)
Þre||m|nary Lxpenses o.op o.oo
Less . vr|tten on our|ng t|e /ear o.o¿ o.oo
o.o6 o.oo
letrenc|ment Compensat|on unoer vlS o.oo :o.o,
Aoo . Aoo|t|on our|ng t|e /ear o.oo o.:¸
Less . Aojusteo our|ng t|e /ear o.oo :o..o
o.oo o.oo
o.o6 o.oo
Schedules formlng µart of Consolldated Accounts
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
õõ
C in Crores
zovo-vv
C |n Crores
.oo,-:o
SCHLouLL 'vo': OÞLÞA1lNe lNCOML
Þrocess|ng lncome vz.yy :,.,¸
(lncome ¯ax oeoucteo C o.¸. Crores Þrev|ous /ear C o.,8 Crores)
Ot|er Operat|ng lncome z8.vp .,.::
(lncome ¯ax oeoucteo C o.,o Crores Þrev|ous /ear C o.8o Crores)
Ca|n on lorwaro Contracts zy.qy :..:o
68.q¿ ¸¸.,,
SCHLouLL 'vv': O1HLÞ lNCOML
lncome trom lnvestments
lrom ¯raoe lnvestments o.zy o.:,
Ot|er lncome q.qy ,.,o
(lncome ¯ax oeoucteo C o.o, Crores Þrev|ous /ear C o..8 Crores)
lent o.6y o.6:
(lncome ¯ax oeoucteo C o.o¸ Crores Þrev|ous /ear C o..: Crores)
Þront on Sa|e ot l|xeo Assets (Het) ¿o.vz ,.8:
Lxcess Þrov|s|on Ho Longer requ|reo (Het) v.yv :.:¸
¿y.zo .:.,6
SCHLouLL 'vz': LMÞLOYLLS' LMOLuMLN1S
Sa|ar|es, vages, 3onus ano Cratu|ty ¿qq.zv ¸o..¸¸
Contr|but|on to Þrov|oent luno ano Ot|er lunos ¿y.8q .8.¸o
ve|tare Lxpenses p.yp ,..¸
¿8p.8q ¸¸8.o8
L|rectors' lemunerat|on z.yq ¸.,.
L|rectors' Comm|ss|on z.qo o.:,
q.pq ¸.¸,
¿pq.y8 ¸,:.6,
SCHLouLL 'v¿': O1HLÞS
Þower 8 lue| ¿oy.p¿ .¸o.¸,
Stores Consumeo zqz.¿6 .¸¸.o8
Þrocess|ng C|arges yp.68 8¸.,:
lepa|rs
3u||o|ng lepa|rs z.oq ..,,
|ac||nery lepa|rs p6.ov ,8.,¸
Ot|er lepa|rs v¿.yq :¸.,¸
vvv.yp 6¸...
Construct|on Contract Lxpense 66.y¿ o.oo
Þr|nt|ng, Stat|onery ano Commun|cat|on p.v8 ,.8,
lnsurance prem|um y.o8 6.:¸
lates 8 ¯axes vo.vy 8.,,
Lxc|se outy v.q¿ o.:¸
lent qv.po 6,.8,
Schedules formlng µart of Consolldated Accounts
õ;
C in Crores
zovo-vv
C |n Crores
.oo,-:o
SCHLouLL 'v¿': O1HLÞS (Conto.)
Comm|ss|on, 3ro|erage ano L|scount 8¿.pv 6,.,.
loya|ty on Sa|es zv.¿q :..¸8
Aovert|sement Lxpenses yp.6o ¸¸.,:
lre|g|t,lnsurance ano C|ear|ng C|arges ¿¿.qy ¸6.o,
||sce||anous Labour C|arges ¿o.zo ,8.o,
Þrov|s|on tor ooubttu| oebt/Aovances v.vp o.oo
3ao Lebts/Aovances vr|tten On o.v¿ o..¸
l|xeo Assets vr|tten On o.yz o.¸o
Loss on Sa|e ot lnvestments (net) o.vo o.oo
L|rectors lees o.oy o.o6
Ot|er Lxpenses v6y.q¿ ,..,¸
vz6p.py :o¸8.66
SCHLouLL 'vq': lN1LÞLS1 ANo llNANCL COS1S {NL1}
lnterest
On |oans tor a l|xeo Þer|oo vq6.pp :,,.86
Ot|ers 6y.v6 ,¸.¸6
zvq.vy ..¸...
Less . lnterest lncome
lnterest trom Ot|ers vy.6v ....6
(lncome ¯ax oeoucteo C o.¸8 Crores Þrev|ous /ear C ..:: Crores)
Het lnterest Lxpenses vp6.yq .oo.,6
Ot|er l|nance Cost yq.6v ¸,..¸
Lxc|ange late L|nerence {6.oy} (.¸.¸.)
zqy.vo .::.6,
SCHLouLL 'vy': {lNCÞLASL} lN S1OCkS
linished eoods, work-in-Þrogress and waste
C|os|ng Stoc|s y8z.z¿ ,.8.8,
Open|ng Stoc|s qz8.8q ,¸,.o.
Less . Aojusteo aga|nst Secur|t|es Þrem|um (Hote Ho. :¸) zo.zy o.oo
Less . vr|tten on our|ng t|e /ear o.oq o.oo
Aoo/(Less) . Aojustment on account ot Conso||oat|on/Lemerger z.vp (.8.6o)
qvo.yq ,.¸.,.
{vyv.qp} (¸.,.)
Lxc|se Luty |n va|ue ot Stoc|s - lncrease / (Lecrease) o.oq (o.o:)
(lncrease) |n Stoc| {vyv.qy} (¸.,¸)
SCHLouLL 'v6': ÞÞlOÞ ÞLÞlOo lNCOML [ {LXÞLNSL}
Ot|er Lxpense le|at|ng to Lar||er /ear o.oo (o.:,)
o.oo (o.:,)
Schedules formlng µart of Consolldated Accounts
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
õ8
SCHLouLL vy : NO1LS lOÞMlNe ÞAÞ1 Ol CONSOLloA1Lo
ACCOuN1S:
v. BASlS Ol CONSOLloA1lON
Basis
(|) ¯|e Conso||oateo l|nanc|a| Statements |ave been prepareo |n
accoroance w|t| Account|ng Stanoaro - .: on °Conso||oateo
l|nanc|a| Statementsº not|neo by Compan|es (Account|ng
Stanoaros) lu|es, .oo6 ano re|evant c|ar|ncat|ons |ssueo
by t|e lnst|tute ot C|artereo Accountants ot lno|a. ¯|e
Conso||oateo l|nanc|a| Statements compr|se t|e nnanc|a|
statements ot Arvind Limited ano |ts subs|o|ar|es ano |ts
!o|nt venture ent|t|es. leterence |n t|ese notes to Arv|no
L|m|teo, Company, Þarent Company, Compan|es or Croup
s|a|| mean to |nc|uoe Arv|no L|m|teo or any ot |ts subs|o|ar|es
ano |ts !o|nt venture ent|t|es conso||oateo |n t|e nnanc|a|
statements, un|ess ot|erw|se stateo.
(||) ¯|e Hotes ano S|gn|ncant Þo||c|es to t|e Conso||oateo
l|nanc|a| Statements are |ntenoeo to serve as a gu|oe tor
better unoerstano|ng ot t|e Croup's pos|t|on. ln t||s respect,
t|e Company |as o|sc|oseo suc| notes ano po||c|es, w||c|
represent t|e neeoeo o|sc|osure.
Þrinciples
(|) ¯|e nnanc|a| statements ot t|e Company ano |ts subs|o|ary
compan|es |ave been comb|neo on a ||ne-by-||ne bas|s by aoo|ng
toget|er |||e |tems ot assets, ||ab|||t|es, |ncome ano expenses.
¯|e |ntra-group ba|ances ano |ntra-group transact|ons ano
unrea||seo pronts or |osses are tu||y e||m|nateo.
(||) ¯|e o|nerence between cost to t|e Company ot |ts
|nvestments |n t|e subs|o|ary compan|es ano |ts s|are ot t|e
equ|ty ot t|e subs|o|ary compan|es, at t|e oates on w||c|
t|e |nvestments |n t|e subs|o|ary compan|es are maoe, |s
recogn|seo as Cooow||| or Cap|ta| leserve as t|e case may be.
(|||) ||nor|ty |nterest |n t|e net assets ot conso||oateo
subs|o|ar|es cons|sts ot t|e amount ot equ|ty attr|butab|e to
t|e m|nor|ty s|are|o|oers at t|e oates on w||c| |nvestments
are maoe by t|e Company |n t|e subs|o|ary compan|es ano
turt|er movements |n t|e|r s|are |n t|e equ|ty subsequent to
t|e oates ot |nvestments.
(|v) ln case ot lore|gn Subs|o|ar|es, revenue |tems are
conso||oateo at t|e average rate preva|||ng our|ng t|e year.
A|| assets ano L|ab|||t|es are converteo at rates preva|||ng
at t|e eno ot t|e year. Any exc|ange o|nerence ar|s|ng on
trans|at|on |s accumu|ateo |n a lore|gn Currency ¯rans|at|on
leserve |n t|e 3a|ance S|eet.
(v) ¯|e subs|o|ary compan|es w||c| |ave c|oseo t|e|r bus|ness
ano o|sposeo on ent|re unoerta||ng ano ceaseo to operate as
go|ng concern bas|s |ave been exc|uoeo trom conso||oat|on
as t|ere are no mater|a| econom|c resources or ob||gat|ons
to be o|sc|oseo |n case ot suc| compan|es.
(v|) ¯|e Company's |nterest |n t|e !o|nt venture |as been
conso||oateo on ||ne to ||ne bas|s by aoo|ng toget|er t|e va|ue
ot assets, ||ab|||t|es, |ncome ano expenses, atter e||m|nat|ng
t|e unrea||seo pronts/|osses ot |ntra group transact|ons.
!o|nt venture accounts |ave been |nc|uoeo |n segment to
w||c| t|ey re|ate.
z. 1HL LlS1 Ol SuBSlolAÞlLS lNCLuoLo lN 1HL
CONSOLloA1Lo llNANClAL S1A1LMLN1S AÞL AS uNoLÞ:
Sr.
No.
Name of Subsidiary Country of
lncorporation
Þroportion of
Ownership as on
¿vst March zovv
: Asman lnvestments L|m|teo lno|a ,¸.6¸/
. Arv|no Þrooucts L|m|teo lno|a ¸¸.66/
¸ ¯|e Anup Lng|neer|ng L|m|teo lno|a 88..,/
, Arv|no vor|ow|oe lnc. 0SA :oo/
¸ Arv|no vor|ow|oe (|) lnc. |aur|t|us :oo/
6 Arv|no Acce| L|m|teo lno|a :oo/
, Synte| ¯e|ecom L|m|teo lno|a :oo/
8 Arv|no lntrastructure L|m|teo lno|a :oo/
, Arv|no 3ranos 8 leta|| L|m|teo
(lormer|y |nown as S||verstone
Þropert|es L|m|teo)
lno|a ,,.¸o/
:o Arv|no L|testy|e 3ranos L|m|teo lno|a ,,.,¸/
:: Arv|no leta|| L|m|teo lno|a ,,.,¸/
:. A|meoabao Last lntrastructure
LLÞ
lno|a :oo/
¿. 1HL LlS1 Ol SuBSlolAÞlLS NO1 lNCLuoLo lN 1HL
CONSOLloA1Lo llNANClAL S1A1LMLN1S AÞL AS uNoLÞ:
Sr.
No.
Name of Subsidiary Country of
lncorporation
Þroportion
of Ownership
as on
¿vst March zovv
: Arv|no Overseas (|aur|t|us)
L|m|teo
|aur|t|us :oo/
. Arv|no Sp|nn|ng L|m|teo |aur|t|us :oo/
¸ Arv|no ¯ext||e ||||s L|m|teo 3ang|aoes| :oo/
Notes:
:. Arv|no Overseas (|aur|t|us) L|m|teo ano Arv|no Sp|nn|ng L|m|teo
|ave c|oseo t|e|r bus|ness ano o|sposeo on ent|re unoerta||ng, ano
ceaseo to operate as go|ng concern bas|s.
.. Arv|no ¯ext||e ||||s L|m|teo |as yet not commenceo bus|ness
operat|ons.
ln v|ew ot above, suc| subs|o|ar|es |ave been exc|uoeo trom
conso||oat|on as t|ere are no mater|a| econom|c resources or
ob||gat|ons to be o|sc|oseo |n case ot suc| compan|es. lnvestments |n
suc| subs|o|ar|es are c|ass|neo ano va|ueo as per Account|ng stanoaro
¸o °l|nanc|a| lnstruments. |easurement ano lecogn|t|onº |ssueo by
t|e lnst|tute ot C|artereo Accountants ot lno|a.
Schedules formlng µart of Consolldated Accounts
õp
q. 1HL lOLLOwlNe 1OlN1 vLN1uÞL LN1l1lLS HAvL
BLLN lNCLuoLo lN 1HL CONSOLloA1Lo llNANClAL
S1A1LMLN1S :
Sr.
No.
Name of 1oint venture Country of
lncorporation
Þroportion of
Ownership as on
¿vst March zovv
: Arya Omn|ta|| v|re|ess So|ut|ons
Þr|vateL|m|teo
lno|a ¸o/
. Arya Omn|ta|| lao|o ¯run||ng
Serv|ces Þr|vate L|m|teo
lno|a ¸o/
¸ Arv|no |urjan| 3ranos Þr|vate
L|m|teo
lno|a ¸o/
, vlArv|no3ranosÞr|vateL|m|teo lno|a ,o/
¸ Arv|no 3-Sata| lomes LLÞ lno|a ¸o/
y. SleNlllCAN1 ACCOuN1lNe ÞOLlClLS
¯|e Company to||ows t|e accrua| met|oo ot account|ng. ¯|e
nnanc|a| statements |ave been prepareo |n accoroance w|t|
t|e ||stor|ca| cost convent|on (except so tar as t|ey re|ate to
(a) reva|uat|on ot nxeo assets ano prov|o|ng tor oeprec|at|on
on reva|ueo amounts ano (b) |tems covereo unoer 'Account|ng
Stanoaro (AS) ¸o' on 'l|nanc|a| lnstruments. lecogn|t|on ano
|easurementº w||c| |ave been measureo at t|e|r ta|r va|ue) ano
account|ng pr|nc|p|es genera||y accepteo |n lno|a.
¯|e Accounts ot t|e tore|gn subs|o|ar|es |ave been prepareo |n
accoroance w|t| |oca| |aws ano app||cab|e account|ng stanoaros/
genera||y accepteo account|ng pr|nc|p|es.
{A} ÞLvLNuL ÞLCOeNl1lON
(A.:) Sa|es ano operat|ng |ncome |nc|uoes sa|e ot prooucts,
by-prooucts ano waste, |ncome trom job wor|
serv|ces ano ga|n or |oss on torwaro contracts. Sa|es
are recogn|zeo baseo on passage ot t|t|e to gooos
w||c| genera||y co|nc|oes w|t| o|spatc|. levenue
trom export sa|es are recogn|zeo on s||pment bas|s.
Sa|es are stateo net ot returns, exc|se outy 8 Sa|es ¯ax/
vA¯. Lxport |ncent|ves are accounteo on accrua| bas|s
at t|e t|me ot export ot gooos, |t t|e ent|t|ement can
be est|mateo w|t| reasonab|e accuracy ano cono|t|ons
preceoent to c|a|m are tu|n||eo.
(A..) leta|| sa|es ano revenues are recogn|seo on oe||very ot
t|e merc|ano|se to t|e customer, w|en t|e property
|n t|e gooos |s transterreo tor a pr|ce, w|en s|gn|ncant
r|s|s ano rewaros |ave been transterreo ano no enect|ve
owners||p contro| |s reta|neo. Sa|es are net ot o|scount,
sa|es tax ano vA¯ are reouceo trom leta|| ¯urnover.
(A.¸) ¯|e property |n t|e merc|ano|se ot t||ro party
cons|gnment stoc| ooes not pass to t|e Company.
S|nce, |owever, t|e sa|e ot suc| stoc| torms a part ot
t|e act|v|t|es ot t|e Company's oepartmenta| stores,
t|e gross sa|es va|ues ano cost ot t|e merc|ano|se are
o|sp|ayeo separate|y |n t|e pront ano |oss account.
(A.,) ln respect ot g|tt vouc|ers ano po|nt awaro sc|emes
operateo by t|e Company, sa|es are recogn|seo w|en
t|e g|tt vouc|ers or po|nts are reoeemeo ano t|e
merc|ano|se |s so|o to t|e customer.
(A.¸) levenue trom store o|sp|ays ano sponsors||ps are
recogn|seo baseo on t|e per|oo tor w||c| t|e prooucts
or t|e sponsors' aovert|sements are promoteo/
o|sp|ayeo. lac|||ty management tees are recogn|seo
pro-rata over t|e per|oo ot t|e contract.
(A.6) levenue trom job wor| serv|ces ano lenta| lncome
are recogn|zeo baseo on t|e serv|ces renoereo |n
accoroance w|t| t|e terms ot contracts.
(A.,) levenue |n respect ot projects tor Construct|on ot
Þ|ants ano Systems, execut|on ot w||c| |s spreao
over o|nerent account|ng per|oos, |s recogn|seo on
t|e bas|s ot percentage ot comp|et|on met|oo |n
accoroance w|t| Account|ng Stanoaro , Account|ng
tor Construct|on Contracts.
Þercentage ot comp|et|on |s oeterm|neo by t|e
proport|on t|at contract costs |ncurreo tor wor| oone
t||| oate bears to t|e est|mateo tota| contract cost.
L|nerence between costs |ncurreo p|us recogn|seo
pront / |ess recogn|seo |osses ano t|e amount |nvo|ceo
|s treateo as contract |n progress.
Leterm|nat|on ot revenues unoer t|e percentage
ot comp|et|on met|oo necessar||y |nvo|ves ma||ng
est|mates by t|e Company, some ot w||c| are ot
a tec|n|ca| nature, re|at|ng to t|e percentage ot
comp|et|on, costs to comp|et|on, ano t|e expecteo
revenue trom t|e contract ano t|e toreseeab|e |osses
to comp|et|on.
(A.8) C|a|ms rece|vab|e on account ot lnsurance are
accounteo tor to t|e extent t|e Company |s reasonab|y
certa|n ot t|e|r u|t|mate co||ect|on.
(A.,) L|v|oeno |s accounteo tor as ano w|en |t |s rece|veo.
{B} vALuA1lON Ol lNvLN1OÞY
(3.:) ¯|e stoc| ot vor|-|n-progress ano l|n|s|eo gooos
|as been va|ueo at t|e |ower ot cost ano net rea||sab|e
va|ue. ¯|e cost |as been measureo on t|e stanoaro
cost/mov|ng average/lllO bas|s as app||cab|e ano
|nc|uoes cost ot mater|a|s ano cost ot convers|on.
(3..) A|| ot|er |nventor|es ot stores, consumab|es, raw
mater|a|s (L|ectron|cs L|v|s|on) are va|ueo at cost.
¯|e stoc| ot waste |s va|ueo at mar|et pr|ce. ¯|e ot|er
raw mater|a|s, nn|s|eo gooos ano stoc| at branc|es
are va|ueo at |ower ot cost ano mar|et va|ue. Cost |s
measureo on actua| average tor t|e w|o|e year. Lxc|se
outy w|erever app||cab|e |s prov|oeo on nn|s|eo
gooos |y|ng w|t||n t|e tactory ano bonoeo ware|ouse
at t|e eno ot t|e year.
{C} llXLo ASSL1S 8 oLÞÞLClA1lON
1angible Assets
(C.:) l|xeo assets are stateo at t|e|r or|g|na| cost ot
acqu|s|t|on or construct|on / reva|ueo cost w|erever
app||cab|e |ess accumu|ateo oeprec|at|on ano
|mpa|rment |osses. Cost compr|ses ot a|| costs
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
;o
|ncurreo to br|ng t|e assets to t|e|r |ocat|on ano
wor||ng cono|t|on ano |nc|uoes a|| expenses |ncurreo
up to t|e oate ot |aunc||ng new stores to t|e extent
t|ey are attr|butab|e to t|e new store.
(C..) Lano |e|o tor sa|e |s stateo at t|e |ower ot t|e|r net
boo| va|ue ano net rea||zab|e va|ue.
(C.¸) Lxc|ange rate ga|n or |oss on tore|gn currency |oans
re|ateo to acqu|s|t|on ot oeprec|ab|e assets are be|ng
cap|ta||zeo as per t|e not|ncat|on oateo ¸:st |arc|,
.oo, |ssueo by ||n|stry ot Corporate Ana|rs, Hew
Le|||.
(C.,) Leprec|at|on on leva|ueo l|xeo Assets |s ca|cu|ateo on
t|e res|oua| ||te ot t|e assets or as per rates spec|neo
|n t|e Sc|eou|e Xlv to t|e Compan|es Act, :,¸6
w||c|ever |s ||g|er.
(C.¸) Aoo|t|ons to nxeo assets |ave been stateo at cost net
ot CLHvA¯ w|erever app||cab|e.
(C.6) L|rect|y |oent|nab|e preoperat|ve expenses ot new
projects ot cap|ta| nature unoer |mp|ementat|on
are carr|eo torwaro unoer cap|ta| wor|-|n-progress,
peno|ng cap|ta||zat|on.
(C.,) Leprec|at|on on aoo|t|ons to l|xeo Assets |as been
prov|oeo on stra|g|t-||ne met|oo at t|e rates spec|neo
|n Sc|eou|e Xlv to t|e Compan|es Act, :,¸6, as ex|st|ng
at t|e t|me ot cap|ta||zat|on except tor motor ve||c|es
w|ere oeprec|at|on |as been prov|oeo at .o/.¸/.
(C.8) Leprec|at|on on |ease |o|o |mprovements |n case ot
3ranoeo Carment o|v|s|ons |as been prov|oeo at :o/
8 |n case ot lurn|ture g|ven to Lmp|oyees |t |as been
prov|oeo at :8/.
(C.,) Leprec|at|on on |mpa|reo asset |s prov|oeo on t|e
asset's rev|seo carry|ng amount, over |ts rema|n|ng
usetu| ||te.
(C.:o) Leprec|at|on on exc|ange rate o|nerence cap|ta||zeo
|s prov|oeo over t|e ba|ance ||te ot t|e assets as per
t|e not|ncat|on oateo ¸:st |arc|, .oo, |ssueo by t|e
||n|stry ot Corporate Ana|rs.
(C.::) lno|v|oua| assets cost|ng |ess t|an C ¸,ooo/- |ave been
tu||y oeprec|ateo |n t|e year ot purc|ase on pro rata
bas|s.
(C.:.) ln t|e case ot tore|gn subs|o|ar|es, oeprec|at|on |as
been prov|oeo as per t|e rates perm|tteo unoer t|e
|oca| |aws/ at suc| rate so as to wr|te on t|e assets over
|ts usetu| ||te.
(C.:¸) Þrem|um on Lease|o|o Lano |s amort|zeo over t|e
per|oo ot Lease.
(C.:,) leva|uat|on leserve on Assets so|o |s transterreo to
Cenera| leserve.
lntangible Assets
(C.:¸) lntang|b|e assets are stateo at t|e|r cost ot acqu|s|t|on
ano / or ta|r va|ue, |ess accumu|ateo amort|sat|on ano
|mpa|rment |osses. An |ntang|b|e asset |s recogn|seo,
w|ere |t |s probab|e t|at t|e tuture econom|c benents
attr|butab|e to t|e asset w||| now to t|e enterpr|se ano
w|ere |ts va|ue/cost can be re||ab|y measureo.
(C.:6) ¯|e Company cap|ta||zes sottware ano re|ateo
|mp|ementat|on costs w|ere |t |s reasonab|y est|mateo
t|at t|e sottware |as an enour|ng usetu| ||te.
(C.:,) !ob vor|ers' Hetwor| va|ue ano venoors' Hetwor|
va|ue |ave been amort|zeo on Stra|g|t L|ne bas|s
over t|e per|oo ot nve years. va|ue ot L|cense 3ranos
ano 3rano va|ue |ave been amort|zeo |n t|e rat|o ot
revenue expecteo to be generateo trom t|ese branos
over t|e per|oo ot ten years.
(C.:8) Sottware |s oeprec|ateo over management est|mate ot
|ts usetu| ||te ot ¸ years.
(C.:,) Þatent/know|ow |s oeprec|ateo over |ts usetu| va||o|ty
per|oo.
{o} lNvLS1MLN1S
lor Arvind Limited
(L.:) lnvestments are c|ass|neo as |nvestments |n
Subs|o|ar|es, Ava||ab|e tor Sa|e ano le|o-to-|atur|ty
w|t||n t|e mean|ng ot Account|ng Stanoaro ¸o on
'l|nanc|a| lnstruments. lecogn|t|on ano |easurement'
reao w|t| t|e ||m|teo rev|s|on ot Account|ng Stanoaro
.: on Conso||oateo l|nanc|a| Statements.
(L..) lnvestments |n subs|o|ar|es are va|ueo at cost |ess any
prov|s|on tor |mpa|rment. lnvestments are rev|eweo
tor |mpa|rment |t events or c|anges |n c|rcumstances
|no|cate t|at t|e carry|ng amount may not be
recoverab|e.
(L.¸) lnvestments c|ass|neo as ava||ab|e tor sa|e are re-
measureo at subsequent report|ng oates to ta|r va|ue.
0nrea||zeo ga|ns/|osses on suc| |nvestments are
recogn|seo o|rect|y |n lnvestment leva|uat|on leserve
Account. At t|e t|me ot o|sposa|, oe-recogn|t|on or
|mpa|rment ot t|e |nvestments, cumu|at|ve ga|n or |oss
prev|ous|y recogn|seo |n t|e |nvestment reva|uat|on
reserve account |s recogn|seo |n t|e pront ano |oss
account.
(L.,) lnvestments c|ass|neo as |e|o tor trao|ng t|at |ave a
mar|et pr|ce are measureo at ta|r va|ue ano ga|n/|oss
ar|s|ng on account ot ta|r va|uat|on |s routeo t|roug|
pront ano |oss account.
lor Subsidiaries and 1oint ventures
(L.¸) lnvestments are c|ass|neo as Long ¯erm lnvestments
ano Current lnvestments. Long-term |nvestments are
stateo at cost |ess permanent o|m|nut|on |n va|ue, |t
any. Current lnvestments are stateo at |ower ot cost
ano net rea||zab|e va|ue.
{L} lMÞAlÞMLN1 Ol ASSL1S
An asset |s cons|oereo as |mpa|reo |n accoroance w|t|
Account|ng Stanoaro .8 on lmpa|rment ot Assets w|en at
ba|ance s|eet oate t|ere are |no|cat|ons ot |mpa|rment ano
t|e carry|ng amount ot t|e asset, or w|ere app||cab|e t|e

cas| generat|ng un|t to w||c| t|e asset be|ongs, exceeos |ts
recoverab|e amount (|.e. t|e ||g|er ot t|e asset's net se|||ng
pr|ce ano va|ue |n use). ¯|e carry|ng amount |s reouceo to t|e
recoverab|e amount ano t|e reouct|on |s recogn|zeo as an
|mpa|rment |oss |n t|e pront ano |oss account.
{l} lOÞLleN CuÞÞLNCY 1ÞANSAC1lONS
(l.:) ¯ransact|ons oenom|nateo |n tore|gn currenc|es are
norma||y recoroeo at t|e exc|ange rate preva|||ng at
t|e t|me ot t|e transact|on.
(l..) |onetary |tems oenom|nateo |n tore|gn currenc|es at
t|e year eno are restateo at year eno rates.
(l.¸) Hon-monetary tore|gn currency |tems are carr|eo at
cost.
(l.,) A|| |ong-term tore|gn currency monetary |tems
cons|st|ng ot |oans w||c| re|ate to acqu|s|t|on ot
oeprec|ab|e cap|ta| assets at t|e eno ot t|e year |ave
been restateo at t|e rate preva|||ng at t|e ba|ance
s|eet oate. ¯|e o|nerence ar|s|ng as a resu|t |as
been aooeo to or oeoucteo trom t|e cost ot t|e
assets as per t|e not|ncat|on |ssueo by t|e ||n|stry
ot Corporate Ana|rs oateo |arc| ¸:, .oo,. Lxc|ange
rate o|nerence on ot|er |ong-term tore|gn currency
|oans carr|eo to 'lore|gn Currency |onetary ltem
¯rans|at|on L|nerence Account' |as been amort|zeo
to be amort|zeo up to t|e per|oo ot |oan or up to |arc|
¸:, .o:. w||c|ever |s ear||er.
(l.¸) Any |ncome or expense on account ot exc|ange
o|nerence e|t|er on sett|ement or on trans|at|on
ot|er t|an as ment|oneo |n (l.,) above |s recogn|zeo
|n t|e pront ano |oss account.
(l.6) Lxpenses ot overseas omces are trans|ateo ano
accounteo at t|e mont||y average rate.
{e} oLÞlvA1lvLS ANo COMMOol1Y HLoelNe
1ÞANSAC1lONS
(C.:) ln oroer to |eoge |ts exposure to tore|gn exc|ange,
|nterest rate ano commoo|ty pr|ce r|s|s, t|e Company
enters |nto torwaro, opt|on, swap contracts ano ot|er
oer|vat|ve nnanc|a| |nstruments. ¯|e Company ne|t|er
|o|os nor |ssues any oer|vat|ve nnanc|a| |nstruments
tor specu|at|ve purposes.
(C..) Ler|vat|ve nnanc|a| |nstruments are |n|t|a||y recoroeo
at t|e|r ta|r va|ue on t|e oate ot t|e oer|vat|ve
transact|on ano are re-measureo at t|e|r ta|r va|ue at
subsequent ba|ance s|eet oates.
(C.¸) C|anges |n t|e ta|r va|ue ot oer|vat|ves t|at are
oes|gnateo ano qua||ty as cas| now |eoges ano are
oeterm|neo to be an enect|ve |eoge are recoroeo
|n |eog|ng reserve account. ¯o oes|gnate a torwaro
contract or opt|on as an enect|ve |eoge, management
object|ve|y eva|uates ano ev|oences w|t| appropr|ate
support|ng oocuments at t|e |ncept|on ot eac|
contract w|et|er t|e contract |s enect|ve |n ac||ev|ng
onsett|ng cas| nows attr|butab|e to |eogeo r|s|. Any
cumu|at|ve ga|n or |oss on t|e |eog|ng |nstrument
recogn|seo |n |eog|ng reserve |s |ept |n |eog|ng
reserve unt|| t|e torecast transact|on occurs or
t|e |eogeo account|ng |s o|scont|nueo. Amounts
oeterreo to |eog|ng reserve are recyc|eo |n t|e pront
ano |oss account |n t|e per|oos w|en t|e |eogeo |tem
|s recogn|seo |n t|e pront ano |oss account or w|en
t|e port|on ot t|e ga|n or |oss |s oeterm|neo to be an
|nenect|ve |eoge.
(C.,) Ler|vat|ve nnanc|a| |nstruments t|at oo not qua||ty tor
|eoge account|ng are mar|eo to mar|et at t|e ba|ance
s|eet oate ano ga|ns or |osses are recogn|seo |n t|e
pront ano |oss account |mmeo|ate|y.
(C.¸) leoge account|ng |s o|scont|nueo w|en t|e |eog|ng
|nstrument exp|res or |s so|o, term|nateo or exerc|seo,
or no |onger qua||nes tor |eoge account|ng. lt a |eogeo
transact|on |s no |onger expecteo to occur, t|e net
cumu|at|ve ga|n or |oss recogn|seo |n |eog|ng reserve
|s transterreo to pront or |oss tor t|e year.
{H} LMÞLOYLL BLNLll1S
(l.:) ¯|e Company |as Lenneo Contr|but|on Þ|ans tor
post emp|oyment benents name|y Þrov|oent luno
ano Superannuat|on luno w||c| are recogn|zeo
by t|e lncome ¯ax Aut|or|t|es. ¯|ese tunos are
aom|n|stereo t|roug| trustees ano t|e Company's
contr|but|ons t|ereto are c|argeo to revenue every
year. ¯|e Company a|so pays |nsurance prem|ums to
tuno a post-emp|oyment meo|ca| ass|stance sc|eme,
a Lenneo Contr|but|on Þ|an aom|n|stereo by lClCl
Lombaro Cenera| lnsurance Company L|m|teo w||c|
|s c|argeo to revenue every year. ¯|e Company's
Contr|but|on to State Þ|ans name|y Lmp|oyee's State
lnsurance luno ano Lmp|oyee's Þens|on Sc|eme are
c|argeo to revenue every year.
(l..) ¯|e Company |as Lenneo 3enent Þ|ans name|y |eave
encas|ment/ compensateo absences ano Cratu|ty tor
a|| t|e emp|oyees, t|e ||ab|||ty tor w||c| |s oeterm|neo
on t|e bas|s ot an actuar|a| va|uat|on at t|e year eno
ano |ncrementa| ||ab|||ty, |t any, |s prov|oeo tor |n
t|e boo|s. ¯|e actuar|a| va|uat|on |s oone baseo on
Þrojecteo 0n|t Creo|t |et|oo. Cratu|ty sc|eme |s
aom|n|stereo t|roug| trust recogn|seo by t|e lncome
¯ax Aut|or|t|es ano / or by LlC.
(l.¸) Actuar|a| Ca|ns ano Losses compr|se ot exper|ence
aojustments ano t|e enects ot c|anges |n actuar|a|
assumpt|ons ano are recogn|seo |mmeo|ate|y |n t|e
Þront ano Loss Account as |ncome or expense.
{l} BOÞÞOwlNe COS1
lor Arvind Limited
3orrow|ng costs |nc|uoe |nterest, tees ano ot|er c|arges
|ncurreo |n connect|on w|t| t|e borrow|ng ot tunos. lt |s
ca|cu|ateo on t|e bas|s ot enect|ve |nterest rate |n accoroance
w|t| Account|ng Stanoaro (AS) -¸o ano cons|oereo as
revenue expeno|ture ano c|argeo to pront ano |oss account
tor t|e year |n w||c| |t |s |ncurreo except tor borrow|ng costs
attr|buteo to t|e acqu|s|t|on/|mprovement ot qua||ty|ng
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
;z
assets up to t|e oate w|en suc| assets are reaoy tor |ntenoeo
use are cap|ta||seo as a part ot t|e cost ot suc| asset.
lor Subsidiaries and 1oint ventures
3orrow|ng costs |nc|uoes |nterest, tees ano ot|er c|arges
|ncurreo |n connect|on w|t| t|e borrow|ng ot tunos ano |s
cons|oereo as revenue expeno|ture tor t|e year |n w||c|
|t |s |ncurreo except tor borrow|ng costs attr|buteo to t|e
acqu|s|t|ons/|mprovement ot qua||ty|ng cap|ta| asset ano
|ncurreo t||| t|e commencement ot commerc|a| use ot t|e
asset ano w||c| |s cap|ta||zeo as cost ot t|at asset.
{1} LLASL ACCOuN1lNe
(!.:) Assets acqu|reo unoer l|nance Lease are segregateo
trom t|e assets owneo ano recogn|zeo as asset at an
amount equa| to t|e ta|r va|ue ot t|e |easeo assets at
t|e |ncept|on ot t|e |ease or t|e present va|ue ot t|e
m|n|mum |ease payments w||c|ever |s |ower w|t|
correspono|ng outstano|ng ||ab|||ty.
(!..) Lease renta| payab|e on suc| nnance |ease |as
been apport|oneo between nnance c|arge ano t|e
reouct|on |n t|e outstano|ng ||ab|||ty. ¯|e nnance
c|arge |as been a||ocateo to per|oos our|ng t|e
|ease term so as to proouce constant per|oo|c rate ot
|nterest on t|e rema|n|ng ba|ance ot ||ab|||ty tor eac|
per|oo.
(!.¸) Lease lenta|s tor assets acqu|reo unoer operat|ng
|ease are recogn|seo as an expense |n Þront 8 Loss
Account on a stra|g|t-||ne bas|s over t|e |ease term.
{k} 1AXLS ON lNCOML
(k.:) ¯ax expense cons|sts ot bot| current as we|| as
oeterreo tax ||ab|||ty. Current tax represents amount ot
|ncome tax payab|e |nc|uo|ng t|e tax payab|e u/s ::¸!3,
|t any, |n respect ot taxab|e |ncome tor t|e year.
(k..) ||n|mum A|ternate ¯ax Creo|t |s recogn|seo as an
asset on|y w|en ano to t|e extent t|ere |s conv|nc|ng
ev|oence t|at t|e Company w||| pay norma| |ncome tax
w|t||n t|e spec|neo per|oo.
(k.¸) Leterreo tax |s recogn|seo on t|m|ng o|nerence
between t|e account|ng |ncome ano t|e taxab|e
|ncome tor t|e year t|at or|g|nates |n one per|oo ano
are capab|e ot reversa| |n one or more subsequent
per|oos. Suc| oeterreo tax |s quant|neo us|ng t|e tax
rates ano |aws enacteo or substant|ve|y enacteo as on
t|e 3a|ance S|eet oate.
(k.,) Leterreo tax assets are recogn|seo ano carr|eo
torwaro to t|e extent t|at t|ere |s a reasonab|e
certa|nty t|at sumc|ent tuture taxab|e |ncome w||| be
ava||ab|e aga|nst w||c| suc| oeterreo tax assets can be
rea||zeo.
{L} LAÞNlNe ÞLÞ SHAÞL
¯|e Company reports bas|c ano o||uteo Larn|ngs per S|are
(LÞS) |n accoroance w|t| Account|ng Stanoaro .o on
Larn|ngs per S|are. 3as|c LÞS |s computeo by o|v|o|ng t|e net
pront or |oss tor t|e year by t|e we|g|teo average number
ot Lqu|ty s|ares outstano|ng our|ng t|e year. L||uteo LÞS |s
computeo by o|v|o|ng t|e net pront or |oss tor t|e year by
t|e we|g|teo average number ot equ|ty s|ares outstano|ng
our|ng t|e year as aojusteo tor t|e enects ot a|| o||ut|ve
potent|a| equ|ty s|ares, except w|ere t|e resu|ts are ant|-
o||ut|ve.
{M} ÞÞOvlSlONS, CON1lNeLN1 LlABlLl1lLS ANo
CON1lNeLN1
ASSL1S
Þrov|s|ons |nvo|v|ng a substant|a| oegree ot est|mat|on
|n measurement are recogn|zeo w|en t|ere |s a present
ob||gat|on as a resu|t ot past events ano |t |s probab|e t|at
t|ere w||| be an outnow ot resources. Cont|ngent ||ab|||t|es
are not recogn|zeo but are o|sc|oseo |n t|e accounts by way
ot a note. Cont|ngent assets are ne|t|er recogn|zeo nor
o|sc|oseo |n t|e nnanc|a| statements.
{N} CAÞl1AL lSSuL LXÞLNSLS
Lxpenses on |ssue ot S|ares, Lebentures ano CLls are be|ng
aojusteo aga|nst S|are Þrem|um Account as perm|tteo by
sect|on ,8 ot t|e Compan|es Act.
{O} ACCOuN1lNe lOÞ 1OlN1 vLN1uÞL
Account|ng tor !o|nt venture |as been oone as to||ows.
1ype of 1oint venture Accounting 1reatment
!o|nt|y Contro||eo Lnt|ty Company's s|are ot pront or |oss
|s accounteo on oeterm|nat|on
ot pront or |oss by t|e !o|nt
ventures.
!o|nt venture |nterests accounteo as above |ave been
|nc|uoeo |n segments to w||c| |t re|ates.
6. CON1lNeLN1 LlABlLl1lLS
(a) 3|||s o|scounteo C ::,..o Crores (C ¸¸.,, Crores).
(b) Cuarantees g|ven by t|e 3an|s on be|a|t ot t|e Company
C 6:.,¸ Crores (C ,¸.6¸ Crores).
(c) Cuarantees/Counter Cuarantees g|ven by t|e Company
to 3an|s ano Ot|er Compan|es C .¸¸.8, Crores (C :¸¸.8,
Crores).
(o) lncome ¯ax oemanos, Lxc|se/ Custom Luty oemanos, Sa|es ¯ax
oemanos, Serv|ce ¯ax Lemanos ano ¯ext||e Comm|ttee Cess
C ,.o. Crores (C6..¸ Crores), C ¸o.,6 Crores (C .8..6 Crores),
C :,.¸¸ Crores (C :6.o8 Crores), C :.,, Crores (C :.o6 Crores) ano
C o.:: Crore (C o.:: Crore) respect|ve|y.
(e) Ot|er oemanos |n o|spute C ¸o.,, Crores (C ¸o.6: Crores).
y. Lqul1Y SHAÞLS ANo wAÞÞAN1S
(:) ln t|e Lxtra Oro|nary Cenera| |eet|ng ot t|e Company
|e|o on |ay :., .oo,, t|e s|are|o|oers |ave approveo t|e
preterent|a| a||otment ot ¸,¸.,oo,ooo warrants to Þromoters
/Þromoter Croup at an |ssue pr|ce ot C :¸/- w||c| are
convert|b|e |nto ¸,¸.,oo,ooo equ|ty s|ares ot C :o/- eac| at a
prem|um ot C ¸/- at any t|me atter t|e oate ot a||otment but on
or betore t|e exp|ry ot :8 mont|s trom t|e oate ot a||otment
|n one or more tranc|es ano,

(.) ¯|e Þromoters/Þromoter Croup |ave exerc|seo t|e r|g|t
tor convers|on ot .,oo,¸o,ooo warrants (:,¸o,oo,ooo
warrants) |nto Lqu|ty S|ares w|t||n t|e st|pu|ateo per|oo ot
:8 mont|s trom t|e oate ot a||otment. Accoro|ng|y, t|e sa|o
warrants stano converteo |n to .,oo,¸o,ooo Lqu|ty S|ares
(:,¸o,oo,ooo Lqu|ty S|ares) ot C :o/- eac| at a prem|um ot
C ¸/- per s|are.
(¸) ¯|e Þromoters/Þromoter Croup |ave not exerc|seo t|e r|g|t
tor convers|on ot :,¸o,ooo warrants (,,:o,oo,ooo warrants)
|nto Lqu|ty S|ares w|t||n t|e st|pu|ateo per|oo ot :8 mont|s
trom t|e oate ot a||otment. Accoro|ng|y, t|e sa|o warrants
stano torte|teo ano pa|o up amount ot C o.o6 Crores (C .:.¸.
Crores) on suc| warrants |as been transterreo to Cap|ta|
leserve.
(,) Lur|ng t|e year, t|e Company |as |ssueo .¸,,.,¸oo equ|ty
s|ares ot C :o/- eac| at a prem|um ot C ,.6¸ per s|are on
exerc|se ot stoc| opt|on granteo to |ts emp|oyees ano
o|rectors unoer t|e LSOS .oo8 p|an.
8. ¯|e est|mateo amount ot contracts rema|n|ng to be executeo on
cap|ta| account ano not prov|oeo tor C:,8.,8 Crores (C .¸.¸, Crores).
p. Ot|er L|ab|||t|es |nc|uoe C :.,8 Crores (C ¸.,¸ Crores) on account ot
boo| overoratt.
vo. Current Assets |nc|uoes C o.o: Crore (Þrev|ous /ear C o.o: Crore)
oue trom subs|o|ary compan|es.
vv. ÞLvALuA1lON Ol llXLo ASSL1S
¯|e Company |as reva|ueo t|e ent|re b|oc| ot lree|o|o ano
Lease|o|o Lano w|t| enect trom ¸:st |arc| .o:: baseo on a
va|uat|on maoe by an approveo va|uer. ¯|e resu|tant |ncrease |n t|e
gross b|oc| amount|ng to C .¸o.,8 Crores |as been aojusteo |n t|e
carry|ng va|ue ot Lano b|oc| ano creo|teo to leva|uat|on leserve.
vz. lMÞAlÞMLN1 Ol llXLo ASSL1S
ln accoroance w|t| t|e Account|ng Stanoaro (AS-.8) on 'lmpa|rment
ot Assets' not|neo by Compan|es (Account|ng Stanoaros) lu|es,
.oo6, our|ng t|e year t|e Company |as reassesseo |ts nxeo assets
ano |s ot t|e v|ew t|at no turt|er |mpa|rment/reversa| |s cons|oereo
to be necessary |n v|ew ot |ts expecteo rea||zab|e va|ue.
v¿. ÞLouC1lON Ol CAÞl1AL:
A Sc|eme ot leouct|on ot Cap|ta| (|ere|n atter reterreo to as
°t|e Sc|emeº) unoer Sect|ons ,8, :oo to :o¸ reao w|t| ot|er
re|evant sect|ons ot t|e Compan|es Act, :,¸6 was approveo by
t|e s|are|o|oers ot t|e Company on .¸t| September, .oo, ano
sanct|oneo by t|e l|g| Court ot Cujarat at A|meoabao on :¸t|
Lecember .oo,.
Þursuant to t|e Sc|eme, t|e ba|ance |n S|are Þrem|um account |as
been ut|||zeo to t|e extent ot C .o..¸ Crores (C ¸,.,8 Crores) (out ot
perm|tteo ut|||zat|on ot C 6o Crores). ¯|e oeta||s are as unoer.
Sr. Þarticulars Amount
C in Crores
Lhect on Þroñt for the
year had the scheme
not prescribed this
accounting treatment
| leouct|on |n carry|ng
va|ueot Stoc|
.o..¸ ¯o t|e same extent
1otal zo.zy
vq. LAÞLY AoOÞ1lON Ol AS ¿o, llNANClAL lNS1ÞuMLN1S:
ÞLCOeNl1lON ANo MLASuÞLMLN1
» Consequent to t|e Announcement ot t|e lnst|tute ot
C|artereo Accountants ot lno|a (lCAl), t|e Company |ao
c|osen to ear|y aoopt 'Account|ng Stanoaro ¸o, l|nanc|a|
lnstruments. lecogn|t|on ano |easurement' |n |ts ent|rety,
reao w|t| ||m|teo rev|s|ons |n var|ous ot|er Account|ng
Stanoaros, as pub||s|eo by lCAl w|t| enect trom : !u|y, .oo8.
Accoro|ng|y, t|e Company |as c|angeo t|e oes|gnat|on
ano measurement ot a|| |ts s|gn|ncant nnanc|a| assets ano
||ab|||t|es. A|| t|e nnanc|a| assets ano nnanc|a| ||ab|||t|es ano
oer|vat|ves |ave been remeasureo at t|e|r respect|ve ta|r
va|ues or at amort|zeo cost as aga|nst cost or mar|et va|ue
w||c|ever |s |ower. ln t|e sp|r|t ot comp|ete aoopt|on ot AS
- ¸o, t|e Company |ao a|so |mp|ementeo t|e consequent|a|
||m|teo rev|s|ons to 'Account|ng Stanoaro ::' on '¯|e Lnects
ot C|anges |n lore|gn Lxc|ange lates' ano 'Account|ng
Stanoaro :¸' on 'Account|ng tor lnvestments' as |ao been
announceo by t|e lCAl.
» As a resu|t, as on 3a|ance S|eet oate, lnvestments, Secureo
Loans ano 0nsecureo Loans are |ower by C ¸.., Crores,
C ..,: Crores ano C ¸.o¸ Crores respect|ve|y ano leoge
leserve account |s ||g|er by C¸:.8, Crores on account ot ta|r
va|uat|on ot outstano|ng oer|vat|ves.
vy. lOÞLleN LXCHANeL olllLÞLNCLS
» As per t|e not|ncat|on |ssueo by t|e ||n|stry ot Corporate
Ana|rs oateo ¸:st |arc|, .oo, as amenoeo trom t|me to
t|me, t|e Company |ao a|reaoy exerc|seo t|e opt|on tor
account|ng ot exc|ange rate o|nerences w|t| enect trom
Apr|| :, .oo,. Consequent to t|e aoopt|on ot t|at opt|on.
(a) Lxc|ange rate o|nerences ot |ong-term tore|gn
currency |oans w||c| are re|ateo to acqu|s|t|on
ot oeprec|ab|e nxeo assets |ave been aooeo to or
oeoucteo trom t|e cost ot t|e assets ano oeprec|ateo
over t|e ba|ance ||te ot t|e assets ano,
(b) Lxc|ange rate o|nerences on ot|er |ong-term tore|gn
currency |oans |ave been transterreo to 'lore|gn
Currency |onetary ltem ¯rans|at|on L|nerence
Account' to be amort|zeo over t|e ba|ance per|oo ot
|oans or up to ¸:st |arc|, .o:. w||c|ever |s ear||er.
As a resu|t.
a) An amount ot CH|| be|ng t|e exc|ange rate ga|n tor
t|e year (Þrev|ous year ga|n ot C 6.:¸ Crores) |as been
aojusteo aga|nst t|e nxeo assets.
b) An amount ot C o.,¸ Crore be|ng t|e exc|ange rate
ga|n tor t|e year (Þrev|ous year ga|n ot C :.o6 Crores)
rema|ns to be amort|zeo as at t|e ba|ance s|eet oate.
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡

v6. olSCLOSuÞL lN ÞLSÞLC1 Ol CONS1ÞuC1lON[1OBwOÞk
CON1ÞAC1S
(C |n Crores)
Sr. Þarticulars zovo-vv .oo,-:o
:. Amount ot Contract levenue
recogn|seo
zv.6p ¸..8
.. L|sc|osure |n respect ot
contracts |n progress at t|e
report|ng oate
A Contract cost |ncurreo
ano recogn|seo pronts |ess
recogn|seo |osses up to t|e
report|ng oate
zv.qy ,.¸¸
3 Lue trom customers ¿.vp :.¸¸
C Lue to customers y.yv ..,.
vy. (A) lactory 3u||o|ng, Omce Þrem|ses, Þ|ant ano |ac||ner|es,
S|ow looms ano ot|er tac|||t|es are ta|en on |ease tor t|e
per|oo ot ¸ mont|s to .o years w|t|/w|t|out t|e opt|on ot
renewa|, no sub |ease ano |av|ng an esca|at|on c|ause tor
|ncrease |n |ease renta|.
¯|e part|cu|ars ot t|ese |eases are as to||ows. (C |n Crores)
Þarticulars zovo-vv .oo,-:o
luture ||n|mum |ease payments
ob||gat|on on non-cance||ab|e
operat|ng |eases .
z8¿.yq .o6..o
Hot |ater t|an one year y6.vq ¸,..¸
Later t|an one year ano not |ater
t|an nve years
vyq.¿¿ ,,.,o
Later t|an nve years y¿.zy 6,..,
Lease Þayment recogn|seo |n Þront
8 Loss Account
8o.qz ,:.:.
(3) lent lncome |nc|uoes Lease lenta| rece|veo towaros
3u||o|ng, Þ|ant 8 |ac||ner|es g|ven on operat|ng |eases w||c|
are genera||y tor a per|oo ot :. to 6o mont|s w|t| t|e opt|on
ot renewa| on mutua| consent ano premature term|nat|on ot
agreement t|roug| agreeo not|ce per|oo.
¯|e part|cu|ars ot t|ese |eases are as to||ows. (C |n Crores)
Þarticulars zovo-vv .oo,-:o
luture ||n|mum |ease payments
unoer non-cance||ab|e operat|ng
|eases .
o.6v o.6:
Hot |ater t|an one year o.6v o.6:
Later t|an one year ano not |ater
t|an nve years
o.oo o.oo
Later t|an nve years o.oo o.oo
Lease lncome recogn|seo |n Þront
8 Loss Account
o.yv o.6:
(C) Lata Þrocess|ng Lqu|pments, ve||c|es, lurn|ture 8 l|xtures
ano Lqu|pments |ave been acqu|reo unoer l|nance Lease tor
a per|oo ot ¸¸ to 6o mont|s w|t| t|e opt|on ot renewa|.
¯|e part|cu|ars ot t|ese |eases are as to||ows. (C |n Crores)
Þarticulars Minimum
lease
payments
Þresent
value of
Minimum
lease
Þayments
lnterest
and Other
Charges
not due
luture ||n|mum |ease
payments ob||gat|on.
o.,8
(:.:o)
o.,6
(:.oo)
o.o.
(o.:o)
Hot |ater t|an one year o.,8
(o.6,)
o.,6
(o.6o)
o.o.
(o.o,)
Later t|an one year ano not
|ater t|an l|ve years
H||
(o.,6)
H||
(o.,o)
H||
(o.o6)
Later t|an nve years

H||
(H||)
H||
(H||)
H||
(H||)
v8. MlCÞO 8 SMALL LN1LÞÞÞlSLS ouLS
¯|e Company |as not rece|veo any |nt|mat|on trom supp||ers
regaro|ng t|e|r status unoer t|e ||cro, Sma|| ano |eo|um
Lnterpr|ses Leve|opment Act, .oo6 ano |ence o|sc|osures
regaro|ng to||ow|ng |ave not been g|ven.
(a) Amount oue ano outstano|ng to supp||ers as at t|e eno ot
account|ng year,
(b) lnterest pa|o our|ng t|e year,
(c) lnterest payab|e at t|e eno ot t|e account|ng year, ano
(o) lnterest accrueo ano unpa|o at t|e eno ot t|e account|ng
year.
¯|e Company |s ma||ng enorts to get t|e connrmat|ons trom t|e
supp||ers as regaros t|e|r status unoer t|e Act.
vp. Auol1OÞS' ÞLMuNLÞA1lON:
(C |n Crores)
zovo-vv .oo,-:o
Statutory Auo|tors
As Auo|tors v.oz o.,,
ln ot|er capac|t|es o.8¿ o.8,
¯rave|||ng ano Out ot Þoc|et
Lxpenses
o.oy o.o¸
Cost Auo|tor
Cost Auo|t lees o.o¿ o.o¸
zo. NO1LS 1O CASH lLOw S1A1LMLN1:
:. ¯|e Cas| l|ow Statement |as been prepareo unoer t|e
°lno|rect |et|ooº as set out |n Account|ng Stanoaro ¸ on
Cas| l|ow Statements.
.. l|gures |n brac|et represent outnow ot cas|.
¸. Cas| ano Cas| Lqu|va|ents |nc|uoe C .¸..: Crores (C :..¸.
Crores) not ava||ab|e tor use by t|e Company.

zv. SLeMLN1 ÞLÞOÞ1lNe:
{A} ÞÞlMAÞY SLeMLN1 {BuSlNLSS SLeMLN1}

(C |n Crores)
Þarticulars zovo-vv .oo,-:o
Segment Þevenue
a) ¯ext||es zpy8.6v .,¸....
b) 3ranoeo Carments ppy.qy ,:..6,
c) Ot|ers v8p.pv :¸..,6
o) 0na||ocab|e o.oz o.o:
1otal Segment Þevenue qv6¿.pp ¸.,,.66
Less . lnter Segment levenue yq.¿v :6.,¸
Net Segment Þevenue qo8p.68 ¸.6:..¸
Segment Þesults
Segment lesu|ts betore lnterest 8
l|nance Cost
a) ¯ext||es ¿y8.¿q ..o..6
b) 3ranoeo Carments yq.o¿ .:.oo
c) Ot|ers v¿.y8 .,.o:
o) 0na||ocab|e {y.vp} (6.,8)
1otal Segment Þesults qzo.p6 .¸8.,,
Less . lnterest 8 l|nance Cost zqy.vo .::.6,
Þront trom Oro|nary Act|v|t|es vyy.86 ,,.:o
Lxtra Oro|nary ltems (Het) o.oo o.oo
Þroñt before 1ax vyy.86 ,,.:o
Other lnformation
Segment Assets
a) ¯ext||es ¿oyo.68 .8:,.,,
b) 3ranoeo Carments 8¿¿.6¿ ¸,..,.
c) Ot|ers zo¿.yo :,¸.,:
o) 0na||ocab|e poo.vz 6,,.:,
1otal Assets yoo8.v¿ ,.o,.,,
Segment Liabilities
a) ¯ext||es 6zp.pz ,o:.o6
b) 3ranoeo Carments ¿zz.8¿ ....:¸
c) Ot|ers yo.pz ¸:..¸
o) 0na||ocab|e 6v.yp ¸,.8o
1otal Liabilities vo8y.q6 ,o,..,
Segment oepreciation[lmpairment
a) ¯ext||es vqo.yp :,¸.:¸
b) 3ranoeo Carments z¿.qz .:.,8
c) Ot|ers z.86 :.,o
o) 0na||ocab|e y.qz ,.o,
1otal oepreciation vyz.qp :,..,o
Capital Lxpenditure
a) ¯ext||es vyo.8p ¸¸..6
b) 3ranoeo Carments q6.yz .¸.:6
c) Ot|ers p.z8 ::.6,
o) 0na||ocab|e q¿.8y :¸..,
1otal Capital Lxpenditure zyo.y6 8¸.¸¸
(C |n Crores)
Þarticulars zovo-vv .oo,-:o
Non cash expenses other than
oepreciation
a) ¯ext||es v.pv o.o6
b) 3ranoeo Carments y.yy o.,¸
c) Ot|ers o.qy o.o.
o) 0na||ocab|e o.oq o.o.
1otal Non cash expenses other than
oepreciation
y.py o.¸¸
{B} SLCONoAÞY SLeMLN1 {eLOeÞAÞHlCAL BY
CuS1OMLÞS}
(C |n Crores)
Þarticulars zovo-vv .oo,-:o
Segment Þevenue
a) ln lno|a z8v6.vy .:¸,.¸o
b) Outs|oe lno|a vzy¿.yv ::.¸.,¸
1otal Sales qo8p.68 ¸.6:..¸
Carrying Cost of Assets by
location of Assets
a) ln lno|a q8pq.y6 ,::,.¸.
b) Outs|oe lno|a vv¿.yy ,..o,
1otal yoo8.v¿ ,.o,.,,
Addition to Assets
a) ln lno|a zyo.yy 8¸.¸¸
b) Outs|oe lno|a o.ov o.oo
1otal zyo.y6 8¸.¸¸
Notes:
:. ¯|e Company |as o|sc|oseo bus|ness segments as t|e
pr|mary segment. Segments |ave been |oent|neo ta||ng |nto
account t|e nature ot t|e prooucts, o|nerent|a| r|s|s ano
returns, t|e organ|zat|ona| structure ano |nterna| report|ng
system. ¯|e company's operat|ons preoom|nant|y re|ate to
manutactur|ng ot text||es ano branoeo garments.
.. ¯ypes ot Þrooucts ano Serv|ces |n eac| bus|ness segment .
¯ext||es . /arn, labr|c ano Carments
3ranoeo Carments . 3ranoeo Carments
Ot|ers . LÞA3X ano lAX Systems (L|ectron|c
L|v|s|on), l.¯. Serv|ces ano
Construct|on bus|ness
¸. lnter segment levenues are recogn|seo at sa|es pr|ce.
zz. ÞLLA1Lo ÞAÞ1Y olSCLOSuÞLS:
As per t|e Account|ng Stanoaro on °le|ateo Þarty L|sc|osuresº (AS
:8) not|neo by Compan|es (Account|ng Stanoaros) lu|es, .oo6, t|e
re|ateo part|es ot t|e Company are as to||ows.
A Þ v l N O L l V l ! L O ANNUAL ÞLÞOÞ! zo¡o - zo¡¡

L|st ot le|ateo Þart|es 8 le|at|ons||p.
Subsidiary Companies * key Management Þersonnel Company under the control of key
Managerial Þersonnel
{A} {B} {C}
Arv|no Overseas (|) L|m|teo, |aur|t|us S|r| Sanjay S. La|b|a|
C|a|rman ano |anag|ng L|rector
Aura Secur|t|es Þr|vate L|m|teo
Arv|no Sp|nn|ng L|m|teo, |aur|t|us S|r| !ayes| k. S|a|
L|rector 8 C||et l|nanc|a| Omcer
Arv|no ¯ext||e ||||s L|m|teo, 3ang|aoes| S|r| Þun|t S. La|b|a|
Son ot C|a|rman ano |anag|ng L|rector
S|r| ku||n S. La|b|a|
Son ot C|a|rman ano |anag|ng L|rector
* Lxc|uoeo tor conso||oat|on.
Note: le|ateo party re|at|ons||p |s as |oent|neo by t|e Company ano re||eo upon by t|e Auo|tors.
Nature of 1ransactions (C |n Crores)
Þeferred in
{A}
Above
Þeferred in
{B}
Above
Þeferred in
{C}
Above
zovo-vv .oo,-:o zovo-vv .oo,-:o zovo-vv .oo,-:o
Lxpenses
lemunerat|on 8 Ot|er Serv|ces q.8o ¸.¸,
lnterest Lxpense ¿.pz o.oo
lncome
Sale of eoods o.y6 o.oo
Service lncome o.v¿ o.oo
Outstanding :
lece|vab|e |n respect ot .
(a) Current Assets o.ov o.o: o.¿z o.oo
(b) Loans y.pv ,.,:
Þayab|e |n respect ot .
(a) Loans p.qv o.oo
(C |n Crores)
Name of Subsidiary Loans 8 Advances in the
nature of Loans
C|os|ng
3a|ance
|ax|mum
Outstano|ng
Arv|no Overseas (|aur|t|us) L|m|teo ,.,: ,.,:
Arv|no ¯ext||e ||||s L|m|teo o.o: o.o:
1O1AL y.pz y.pz
Note: Ho repayment sc|eou|e |as been nxeo |n case ot above ment|oneo
Loans 8 Aovances |n t|e nature ot |oans g|ven to Subs|o|ary Compan|es
ano t|ey are |nterest tree.
z¿. olSCLOSuÞL lN ÞLSÞLC1 Ol ÞÞOvlSlONS:
{A} ÞÞOvlSlON lOÞ olSÞu1Lo MA11LÞS
¯|e Company |ao maoe prov|s|ons tor peno|ng o|sputeo
matters |n respect ot lno|rect ¯axes |||e Sa|es ¯ax, Lxc|se
Luty ano Custom Luty |n respect ot 3ranoeo Carment
L|v|s|ons acqu|reo on Ama|gamat|on/|erger, t|e ||ab|||ty tor
w||c| may ar|se |n t|e tuture, t|e quantum w|ereot w||| be
oeterm|neo as ano w|en t|e matters are o|sposeo on.
lndirect 1axes (C |n Crores)
Þarticulars zovo-vv .oo,-:o
Open|ng 3a|ance z.8v ..8:
Aoo . Þrov|s|on maoe o.oo o.oo
Less . Þrov|s|on reverseo o.oo o.oo
C|os|ng 3a|ance z.8v ..8:
{B} ÞÞOvlSlON lOÞ CuS1OMLÞ LOYAL1Y ÞÞOeÞAM
ÞLwAÞo ÞOlN1S
¯|e Company |as maoe prov|s|on tor reoempt|on ot
customer |oya|ty program rewaro po|nts. ¯|e summary ot
rewaro po|nts ano va|ue tor t|ose po|nts are g|ven be|ow.
(C |n Crores)
Þarticulars ¿v.o¿.zovv ¸:.o¸..o:o
Open|ng 3a|ance o.¿o o.oo
Het Þrov|s|on/(leversa|) maoe
our|ng t|e year
{o.vo} o.¸o
C|os|ng 3a|ance o.zo o.¸o
zq. LAÞNlNe ÞLÞ SHAÞL {LÞS}:
Þarticulars zovo-vv .oo,-:o
Þront ava||ab|e to Lqu|ty
S|are|o|oer
C |nCrores v6q.8y ,,.o6
ve|g|teo average no. ot Lqu|ty
S|arestor3as|cLÞS
Hos. z¿pzooy68 ..¸:,:.,o
ve|g|teo average no. ot Lqu|ty
S|arestorL||uteoLÞS
Hos. z¿p¿y¿vyy .,668,¸.¸
Hom|na| va|ueot Lqu|tyS|ares C vo :o
3as|cLarn|ngperLqu|tyS|are C 6.8p ..:8
L||uteoLarn|ngperLqu|tyS|are C 6.8p :.,,
;;
(C|n Crores)
{A} Þeconciliation of the proñt for
the year, used for calculating
Larning per Share
zovo-vv .oo,-:o
Þront tor t|e year v6q.8y ,,.,¸
Less. L|v|oenoonreoeemab|ecumu|at|ve
nonConvert|b|eÞreterenceS|ares
o.oo o.,6
Less . ¯ax on Þreterence L|v|oeno o.oo o.:¸
Þront ava||ab|e to Lqu|ty S|are|o|oer v6q.8y ,,.o6
{B} weighted average number
of Lquity Shares
zovo-vv .oo,-:o
Ho. ot S|ares tor 3as|c LÞS z¿pzooy68 ..¸:,:.,o
Ho. ot S|ares tor L||uteo LÞS atter
cons|oer|ng Þotent|a| equ|ty s|ares to be
converteotromwarrantsanoo||uteenect
ot outstano|ngstoc|opt|ons
z¿p¿y¿vyy .,668,¸.¸
zy. LMÞLOYLL SHAÞL BASLo ÞAYMLN1
a) Lur|ng t|e year .oo8-.oo,, t|e Company |as tormu|ateo
Lmp|oyee Stoc| Opt|on Sc|eme (LSOS .oo8), t|e teatures
ot w||c| are as to||ows .
Scheme LSOS zoo8
Late ot Crant October .¸, .oo8
Humber ot opt|ons granteo .,,¸o,ooo
Lxerc|se Þr|ce per opt|on C :,.6¸
Late ot vest|ng ¯|e vest|ng w||| be as unoer .
.¸/ on Apr|| ¸o, .o:o
.¸/ on Apr|| ¸o, .o::
.¸/ on Apr|| ¸o, .o:.
.¸/ on Apr|| ¸o, .o:¸
Lxerc|se Þer|oo v|t||n ¸ years trom t|e oate ot
respect|ve vest|ng.
|et|oo ot sett|ement ¯|roug| a||otment ot one Lqu|ty
S|are tor eac| opt|on granteo.
b) lntr|ns|c va|ue |et|oo |as been useo to account tor t|e
emp|oyee s|are baseo payment p|ans. ¯|e |ntr|ns|c va|ue ot
eac| stoc| opt|on granteo unoer t|e LSOS .oo8 p|an |s C H||
s|nce t|e mar|et pr|ce ot t|e unoer|y|ng s|are at t|e grant
oate was same as t|e exerc|se pr|ce ano consequent|y t|e
account|ng va|ue ot t|e opt|on (compensat|on cost) |s C H||.
c) lurt|er oeta||s ot t|e stoc| opt|on p|ans LSOS .oo8 |s as to||ows .
Þarticulars zovo-vv .oo,-:o
Opt|ons Outstano|ng at start ot year z6oyooo .,,¸o,ooo
Opt|ons Cranteo our|ng t|e /ear Nil H||
Opt|ons Lapseo our|ng t|e /ear Nil :,,¸,ooo
Opt|ons Lxerc|seo our|ng t|e /ear z¿yzyoo H||
Opt|ons vesteo but not Lxerc|seo at
eno ot /ear
Nil H||
Opt|ons not vesteo at eno ot /ear z¿zyoo .6,o¸,ooo
ve|g|teo Average Lxerc|se Þr|ce
per Opt|on
C vq.6y C :,.6¸
o) ¯|e 3|ac|-Sc|o|es-|ertons Opt|on Þr|c|ng |ooe| |ave been
useo to oer|ve t|e est|mateo va|ue ot stoc| opt|on granteo
|t t|e ta|r va|ue met|oo to account tor t|e emp|oyee s|are
baseo payment p|ans were to be useo. ¯|e est|mateo va|ue
ot eac| stoc| opt|ons ano t|e parameters useo tor oer|v|ng
t|e est|mateo va|ue ot Stoc| Opt|on granteo unoer 3|ac|-
Sc|o|es-|ertons Opt|on Þr|c|ng |ooe| |s as to||ows,
Þarticulars LSOS zoo8 - vesting on April ¿o,
zovo zovv zovz zov¿
Lst|mateo va|ue ot Stoc|
Opt|ons(C)
6.6, y.z6 8.o¸ 8.66
S|areÞr|ceat Crant Late(C) :,.6¸ vq.6y :,.6¸ :,.6¸
Lxerc|seÞr|ce(C) :,.6¸ vq.6y :,.6¸ :,.6¸
Lxpecteovo|at|||ty(/) ¸8.,,/ yq.y¿% ¸,.,6/ ¸¸.,:/
L|v|oeno/|e|olate(/) o..8/ o.z8% o..8/ o..8/
LxpecteoL|teotOpt|ons(|nyears) ¸.o: q.ov ¸.o. 6.o.
l|s|lreelateot lnterest (/) ,.¸,/ y.6v% ,.6¸/ ,.,o/
e) lao t|e compensat|on cost tor t|e stoc| opt|ons granteo
unoer LSOS .oo8 been oeterm|neo on ta|r va|ue approac|,
t|e Company's net |oss ano earn|ng per s|are wou|o |ave
been as per pro torma amounts |no|cateo be|ow.
(C |n Crores)
Þarticulars zovo-vv .oo,-:o
Het Þront atter ¯ax as reporteo v6q.8y ,,.o6
Less . Amort|sat|on ot Compensat|on
Cost (pro torma) {o.yy} (o.,6)
Het Þront cons|oereo tor comput|ng
LÞS (pro torma) v6q.vz ,8.¸o
Larn|ng Þer S|are - (3as|c)
- as reporteo 6.8p ..:8
- pro torma 6.86v ..:¸
Larn|ng Þer S|are - (L||uteo)
- as reporteo 6.8p :.,,
- pro torma 6.8yy :.,6
z6. oLlLÞÞLo 1AX
ln accoroance w|t| t|e manoatory Account|ng Stanoaro ..
°Account|ng tor ¯axes on lncomeº not|neo by Compan|es (Account|ng
Stanoaros) lu|es, .oo6, t|e Company |s account|ng tor oeterreo tax.
ln comp||ance w|t| prov|s|ons ot Account|ng Stanoaro, our|ng t|e
year unoer rev|ew, net oeterreo tax ||ab|||ty ot C 8.,. Crores |as been
prov|oeo. (Þrev|ous /ear C :..:, Crores reverseo).
lowever, baseo on Cenera| Þruoence, t|e Company |as not
recogn|seo t|e oeterreo tax assets on account ot accumu|ateo
bus|ness |osses ano unabsorbeo oeprec|at|on nor wr|tten bac|
excess oeterreo tax ||ab|||ty.
zy. CAÞl1AL ÞLSLÞvL ON CONSOLloA1lON
Cap|ta| leserve on conso||oat|on represents t|e |osses |n t|e va|ue
ot t|e |nvestments |n subs|o|ary compan|es prov|oeo by t|e Arv|no
L|m|teo (lo|o|ng company) |n accoroance w|t| t|e sc|eme ot
arrangement sanct|oneo by t|e l|g| Court ot Cujarat.
z8. Sunory Lebtors, Sunory Creo|tors ano Loans ano Aovances |nc|uoe
certa|n accounts w||c| are subject to connrmat|on/reconc|||at|on,
t|e enect ot w||c| |s not ascerta|nab|e.
zp. l|gures |ess t|an ¸o,ooo/- w||c| are requ|reo to be s|own
separate|y, |ave been s|own as actua| |n brac|ets.
¿o. Þrev|ous year's ngures are s|own |n brac|ets ano are regroupeo or
recast w|erever necessary to ma|e t|em comparab|e w|t| t|ose ot
t|e current year.
S|gnatures to Sc|eou|es : to :,
SAN1AY S. LALBHAl
As per our report attac|eo C|a|rman 8 |anag|ng L|rector
lor Sorab S. Lngineer 8 Co. 1AYLSH k. SHAH
l|rm leg|strat|on Ho. ::o,:,v L|rector 8 C||et l|nanc|a| Omcer
C|artereo Accountants
CA.N. o. Anklesaria Þ. v. BHlMANl
Þartner Company Secretary
A|meoabao, .ot| |ay, .o::
;8
!HL AÞvlNO OvLÞSLAS (VAUÞl!lUS) LlVl!LO ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
Olrectors` Þeµort
Oear Shareholder
!he 8oard of Olrectors ls µleased to µresent the ñnanclal statements of 1he Arvind Overseas {Mauritius} Limited for the year ended
Varch ¸¡, zo¡¡, the contents of whlch are llsted below:
All shareholders agree that the Annual Þeµort need not comµly wlth Sectlon z¡8 of the Comµanles Act zoo¡.
!hls reµort was aµµroved by the 8oard of Olrectors on !une ¸o,zo¡¡.
SAN1AY S. LALBHAl SAMvLe A. LALBHAl
OlÞLC!OÞ OlÞLC!OÞ
Þeµort of the Audltors to the Vembers
We have audlted the ñnanclal statements of 1he Arvind Overseas {Mauritius} Limited set out on µages ;p to 8¡.
!hls reµort ls made solely to the comµany`s members, as a body. !o the fullest extent µermltted by law, we do not acceµt or assume resµonslblllty to
anyone other than the comµany and the comµany`s members as a body, for our audlt, for thls reµort or for the oµlnlon we have formed.
!he dlrectors are resµonslble for keeµlng µroµer accountlng records whlch dlsclose wlth reasonable accuracy at any tlme the ñnanclal µosltlon of
the comµany. !hey are also resµonslble for safeguardlng the assets of the comµany and hence for taklng reasonable steµs for the µreventlon and
detectlon of fraud and other lrregularltles. lt ls our resµonslblllty to form an lndeµendent oµlnlon, based on our audlt, on the ñnanclal statements
and to reµort our oµlnlon to you. We belleve that our audlt µrovldes a reasonable basls for our oµlnlon.
ln our oµlnlon, the ñnanclal statements, whlch has been µreµared under the break up basis, glves a true and falr vlew of the state of ahalrs of the
comµany as at Varch ¸¡, zo¡¡ and of lts loss for the year then ended.
BoO 8 Co
Chartered Accountants
Þort Louls,
Vaurltlus
Oate: !une ¸o, zo¡¡
;p
8alance Sheet - Varch ¸¡, zo¡¡
Notes zovv zo¡o
ASSL1S Mau. C Cin Lacs* Vau. C Cln Lacs**
Current assets
Cash and cash equlvalents v,yop,py¿ z6.yv ¡,;zp,¸o8 z¸.8o
1otal assets v,yop,py¿ z6.yv ¡,;zp,¸o8 z¸.8o
Lqul1Y ANo LlABlLl1lLS
Capital and deñcit
Share caµltal ¸ z¿8,yvy,voo ¿6p8.qy z¸8,¸¡;,¡oo ¸¸¸;.p¸
Þevenue deñclt {z¿6,8oy,vqy} {¿6yv.pq} (z¸õ,;8;,;pz) (¸¸¸z.¡¸)
Lquityholders' interest v,yop,py¿ z6.yv ¡,;zp,¸o8 z¸.8o
!hese ñnanclal statements have been aµµroved for lssue by the 8oard of Olrectors on: !une ¸o,zo¡¡.
SAN1AY S. LALBHAl SAMvLe A. LALBHAl
OlÞLC!OÞ OlÞLC!OÞ
!he notes on µage 8¡ form an lntegral µart of these ñnanclal statements.
Audltors` reµort on µage ;8.
* !he ruµee equlvalent of Vaurltlan Chas been glven at the lnter bank rate as on ¸¡st Varch, zo¡¡ (¡ Vau C= ¡.¸¸oõ)
** !he ruµee equlvalent of Vaurltlan Chas been glven at the lnter bank rate as on ¸¡st Varch, zo¡o (¡ Vau C= ¡.µp¡;)
lncome Statement - ¥ear ended Varch ¸¡, zo¡¡
Notes zovv zo¡o
Mau. C Cin Lacs* Vau. C Cln Lacs**
Admlnlstratlve exµenses {v,p8v} {o.o¿} (¸,õ8µ) (o.o¸)
llnance Costs µ {vy,¿yq} {o.zy} ¡põ,¸;o z.p¸
Þroñt /(Loss) for the year {vp,¿yy} {o.¿o} ¡pz,88õ z.88
!hese ñnanclal statements have been aµµroved for lssue by the 8oard of Olrectors on: !une ¸o,zo¡¡.
SAN1AY S. LALBHAl SAMvLe A. LALBHAl
OlÞLC!OÞ OlÞLC!OÞ
!he notes on µage 8¡ form an lntegral µart of these ñnanclal statements.
Audltors` reµort on µage ;8.
* !he ruµee equlvalent of Vaurltlan Chas been glven at the lnter bank rate as on ¸¡st Varch, zo¡¡ (¡ Vau C= ¡.¸¸oõ)
** !he ruµee equlvalent of Vaurltlan Chas been glven at the lnter bank rate as on ¸¡st Varch, zo¡o (¡ Vau C= ¡.µp¡;)

8o
!HL AÞvlNO OvLÞSLAS (VAUÞl!lUS) LlVl!LO ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
Statement of Changes ln Lqulty - ¥ear ended Varch ¸¡, zo¡¡
Share Capital Þevenue oeñcit 1otal
Mau. C Cin Lacs* Mau. C Cin Lacs* Mau. C Cin Lacs*
8alance at Aµrll ¡, zo¡o z¸8,¸¡;,¡oo ¸õp8.µ¸ (z¸õ,;8;,;pz) (¸õ;¡.õ¸) ¡,;zp,¸o8 zõ.8z
Þroñt for the year - - (¡p,¸¸¸) (o.¸o) (¡p,¸¸¸) (o.¸o)
Balance at March ¿v, zovv z¿8,yvy,voo ¿,6p8.qy {z¿6,8oy,vqy} {¿,6yv.p¿} v,yop,py¿ z6.yz
8alance at Aµrll ¡, zoop z¸8,¸¡;,¡oo ¸¸¸;.põ (z¸õ,p8o,õ;8) (¸¸¸¸.oµ) ¡,¸¸õ,µzz zz.pz
Þroñt for the year - - ¡pz,88õ z.88 ¡pz,88õ z.88
8alance at Varch ¸¡, zo¡o z¸8,¸¡;,¡oo ¸,¸¸;.põ (z¸õ,;8;,;pz) (¸,¸¸z.¡õ) ¡,;zp,¸o8 z¸.8o
Audltors` reµort on µage ;8.
* !he ruµee equlvalent of Vaurltlan Chas been glven at the lnter bank rate as on ¸¡st Varch, zo¡¡ (¡ Vau C= ¡.¸¸oõ)
** !he ruµee equlvalent of Vaurltlan Chas been glven at the lnter bank rate as on ¸¡st Varch, zo¡o (¡ Vau C= ¡.µp¡;)
Cash llow Statement - ¥ear ended Varch ¸¡, zo¡¡
zovv zovo
Mau. C Cin Lacs* Mau. C Cin Lacs**
Cash Bows from operating activities
Cash absorbed ln oµeratlons {vp,¿yy} {o.¿o} ¡pz,88õ z.88
Net cash used ln oµeratlng actlvltles {vp,¿yy } {o.¿o} ¡pz,88õ z.88
lncrease[{oecrease} in cash and cash equivalents {vp,¿yy} {o.¿o} ¡pz,88õ z.88
Movement in cash and cash equivalents:
At Aµrll ¡, v,yzp,¿o8 z6.8v ¡,¸¸õ,µzz zz.pz
lncrease/(Oecrease) {vp,¿yy} {o.¿o} ¡pz,88õ z.88
At Varch ¸¡, v,yop,py¿ z6.yv ¡,;zp,¸o8 z¸.8o
!he notes on µage 8¡ form an lntegral µart of these ñnanclal statements.
Audltors` reµort on µage ;8.
* !he ruµee equlvalent of Vaurltlan Chas been glven at the lnter bank rate as on ¸¡st Varch, zo¡¡ (¡ Vau C= ¡.¸¸oõ)
** !he ruµee equlvalent of Vaurltlan Chas been glven at the lnter bank rate as on ¸¡st Varch, zo¡o (¡ Vau C= ¡.µp¡;)

Notes to the llnanclal Statements - ¥ear ended Varch ¸¡, zo¡¡
v. eLNLÞAL lNlOÞMA1lON
!he Arvlnd Overseas (Vaurltlus) Llmlted ls a µrlvate comµany
lncorµorated and domlclled ln Vaurltlus. !he address of lts
reglstered ohce ls ¡o, lrere lellx de valols Street, Þort Louls,
Vaurltlus and the µlace of buslness ls at La !our koenlg, Þolnte aux
Sables. lts lmmedlate and ultlmate holdlng comµany ls !he Arvlnd
Llmlted, lncorµorated ln lndla. !he comµany ceased buslness ln
August zooµ. !hese ñnanclal statements wlll be submltted for
conslderatlon and aµµroval at the forthcomlng Annual Veetlng of
Shareholders of the comµany.
z. SleNlllCAN1 ACCOuN1lNe ÞOLlClLS
!he µrlnclµal accountlng µollcles adoµted ln the µreµaratlon
of these ñnanclal statements are set out below. !hese µollcles
have been conslstently aµµlled to all the years µresented, unless
otherwlse stated.
{a} Basis of preparation
!he ñnanclal statements of !he Arvlnd Overseas (Vaurltlus)
Llmlted have been µreµared under the break uµ basls.
All assets have been stated at the lower of cost and net
reallsable value. All long term assets have been reclasslñed
as current.
{b} loreign Currencies
(l) lunctlonal and Þresentatlon Currency
ltems lncluded ln the ñnanclal statements are measured
uslng Vaurltlan C, the currency of the µrlmary
economlc envlronment ln whlch the entlty oµerates
(°functlonal currency"). !he ñnanclal statements
are µresented ln Vaurltlan C, whlch ls the comµany`s
functlonal and µresentatlon currency.
(ll) !ransactlons and 8alances
lorelgn Currency !ransactlons are translated lnto the
functlonal currency uslng the exchange rates µrevalllng
on the dates of the transactlons. lorelgn exchange
galns and losses resultlng from the settlement of
such transactlons and from the translatlon at year-
end exchange rates of monetary assets and llabllltles
denomlnated ln forelgn currencles are recognlsed ln
the statement of comµrehenslve lncome.
Non-monetary ltems that are measured at hlstorlcal
cost ln a forelgn currency are translated uslng the
exchange rate at the date of the transactlon.
Non-monetary ltems that are measured at falr value ln
a forelgn currency are translated uslng the exchange
rates at the date the falr value was determlned.
{c} oeferred income tax
Oeferred lncome tax ls µrovlded ln full, uslng the llablllty
method, on temµorary dlherences arlslng between the tax
bases of assets and llabllltles and thelr carrylng amounts ln
the ñnanclal statements. However, lf the deferred lncome
tax arlses from lnltlal recognltlon of an asset or llablllty ln
a transactlon, other than a buslness comblnatlon, that at
the tlme of the transactlon ahects nelther accountlng nor
taxable µroñt or loss, lt ls not accounted for.
Oeferred lncome tax ls determlned uslng tax rates that have
been enacted by the end of the reµortlng µerlod and are
exµected to aµµly ln the µerlod when the related deferred
lncome tax asset ls reallsed or the deferred lncome tax
llablllty ls settled.
Oeferred tax assets are recognlsed to the extent that lt ls
µrobable that future taxable µroñt wlll be avallable agalnst
whlch deductlble temµorary dlherences can be utlllsed.
{d} Þrovisions
Þrovlslons are recognlsed when the comµany has a µresent
legal or constructlve obllgatlon as a result of µast events, lt
ls µrobable that an outñow of resources that can be rellably
estlmated wlll be requlred to settle the obllgatlon.


¿. SHAÞL CAÞl1AL zovv zovo
Mau. C Cln Lacs* Mau. C Cln Lacs**
AU!HOÞlSLO
z,¸oo,ooo ordlnary shares of C ¡oo each zyo,ooo,ooo ¿,8y6.yo z¸o,ooo,ooo ¸,;zp.z¸
lSSULO ANO lULL¥ ÞAlO
z,¸8¸,¡;¡ ordlnary shares of C ¡oo each z¿8,yvy,voo ¿,6p8.qy z¸8,¸¡;,¡oo ¸,¸¸;.põ
q. llNANCL COS1S
Net forelgn exchange transactlon Losses {vy,¿yq} {o.zy} ¡põ,¸;o z.p¸
y. oLlLÞÞLo 1AXA1lON
Oeferred lncome tax assets are recognlsed for tax losses carrled forward only to the extent that reallsatlon of related tax beneñt ls µrobable.
!he comµany has tax losses of Vau.C¸8;,z¸õ,¡8¸ C ln Lacs õooµ.;p* (zo¡o: Vau C¸88,;¸¡,zµõ Cln Lacs ¸,;pp.oo**) to carry forward agalnst
future taxable lncome, whlch have not been recognlsed ln these ñnanclal statements due to cessatlon of buslness.
* !he ruµee equlvalent of Vaurltlan Chas been glven at the lnter bank rate as on ¸¡st Varch, zo¡¡ (¡ Vau C= ¡.¸¸oõ)
** !he ruµee equlvalent of Vaurltlan Chas been glven at the lnter bank rate as on ¸¡st Varch, zo¡o (¡ Vau C= ¡.µp¡;)
8z
AÞvlNO SÞlNNlNG LlVl!LO ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
We have audlted the ñnanclal statements of Arvind Spinning Limited set out on µages 8¸ to 8¸.
!hls reµort ls made solely to the comµany`s members, as a body. !o the fullest extent µermltted by law, we do not acceµt or assume resµonslblllty to
anyone other than the comµany and the comµany`s members as a body, for our audlt, for thls reµort or for the oµlnlon we have formed.
!he dlrectors are resµonslble for keeµlng µroµer accountlng records whlch dlsclose wlth reasonable accuracy at any tlme the ñnanclal µosltlon of
the comµany. !hey are also resµonslble for safeguardlng the assets of the comµany and hence for taklng reasonable steµs for the µreventlon and
detectlon of fraud and other lrregularltles. lt ls our resµonslblllty to form an lndeµendent oµlnlon, based on our audlt, on the ñnanclal statements
and to reµort our oµlnlon to you. We belleve that our audlt µrovldes a reasonable basls for our oµlnlon.
ln our oµlnlon, the ñnanclal statements, whlch has been µreµared under the break up basis, glves a true and falr vlew of the state of ahalrs of the
comµany as at Varch ¸¡, zo¡¡ and of lts loss for the year then ended.
Þort Louls, BoO 8 Co
Vaurltlus. Chartered Accountants
Oate: !une ¸o, zo¡¡
Þeµort of the Audltors to the Vembers
Oear Shareholder
!he 8oard of Olrectors ls µleased to µresent the ñnanclal statements of Arvind Spinning Limited for the year ended Varch ¸¡, zo¡¡, the contents
of whlch are llsted below :
All shareholders agree that the Annual Þeµort need not comµly wlth Sectlon z¡8 of the Comµanles Act, zoo¡.
!hls reµort was aµµroved by the 8oard of Olrectors on !une ¸o, zo¡¡.

SAN1AY S. LALBHAl 1AYLSH k. SHAH
Olrector Olrector
Olrectors` Þeµort

8alance Sheet - Varch ¸¡, zo¡¡
Notes zovv zo¡o
ASSL1S Mau. C Cin Lacs* Vau. C Cln Lacs**
Current assets
Cash and cash equlvalents yp¿,yyo p.zv ¸pµ,p;o 8.88
1otal assets yp¿,yyo p.zv ¸pµ,p;o 8.88
Lqul1Y ANo LlABlLl1lLS
Capital and deñcit
Share caµltal ¸ 8z,qop,p66 v,zyy.8y 8z,µop,põõ ¡,zzp.¸o
Þevenue deñclt {8v,8v6,vp6} {v,z68.6q} (8¡,8¡µ,ppõ) (¡,zzo.µz)
yp¿,yyo p.zv ¸pµ,p;o 8.88
Lquity holders' interest yp¿,yyo p.zv ¸pµ,p;o 8.88
!hese ñnanclal statements have been aµµroved for lssue by the 8oard of Olrectors on: !une ¸o,zo¡¡.
SAN1AY S. LALBHAl 1AYLSH k. SHAH
Olrector Olrector
!he notes on µage 8¸ form an lntegral µart of these ñnanclal statements.
Audltors` reµort on µage 8z.
* !he ruµee equlvalent of Vaurltlan C has been glven at the lnter bank rate as on ¸¡st Varch, zo¡¡ (¡ Vau C= ¡.¸¸oõ)
** !he ruµee equlvalent of Vaurltlan Chas been glven at the lnter bank rate as on ¸¡st Varch, zo¡o (¡ Vau C= ¡.µp¡;)
lncome Statement - ¥ear ended Varch ¸¡, zo¡¡
zovv zo¡o
Mau. C Cin Lacs* Vau. C Cln Lacs**
Admlnlstratlve exµenses {v,zoo} {o.oz} (¡,zoo) (o.oz)
Loss for the year {v,zoo} {o.oz} (¡,zoo) (o.oz)
!hese ñnanclal statements have been aµµroved for lssue by the 8oard of Olrectors on: !une ¸o,zo¡¡.
SAN1AY S. LALBHAl 1AYLSH k. SHAH
Olrector Olrector
!he notes on µage 8¸ form an lntegral µart of these ñnanclal statements.
Audltors` reµort on µage 8z.
* !he ruµee equlvalent of Vaurltlan Chas been glven at the lnter bank rate as on ¸¡st Varch, zo¡¡ (¡ Vau C= ¡.¸¸oõ)
** !he ruµee equlvalent of Vaurltlan Chas been glven at the lnter bank rate as on ¸¡st Varch, zo¡o (¡ Vau C= ¡.µp¡;)

AÞvlNO SÞlNNlNG LlVl!LO ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
Share Capital Þevenue oeñcit 1otal
Mau. C Cin Lacs* Mau. C Cin Lacs* Mau. C Cin Lacs*
8alance at Varch ¸¡, zo¡o 8z,µop,põõ ¡,z;;.8¸ (8¡,8¡µ,ppõ) (¡,zõ8.õz) ¸pµ,p;o p.z¸
Loss for the year - - (¡,zoo) (o.oz) (¡,zoo) (o.oz)
Balance at March ¿v, zovv 8z,qop,p66 v,zyy.8y {8v,8v6,vp6} {v,z68.6q} yp¿,yyo p.zv
8alance at Varch ¸¡, zoop 8z,µop,põõ ¡,zzp.¸o (8¡,8¡¸,;põ) (¡,zzo.µo) ¸põ,¡;o 8.po
Loss for the year - - (¡,zoo) (o.oz) (¡,zoo) (o.oz)
8alance at Varch ¸¡, zo¡o 8z,µop,põõ ¡,zzp.¸o (8¡,8¡µ,ppõ) (¡,zzo.µz) ¸pµ,p;o 8.88
Audltors` reµort on µage 8z.
*!he ruµee equlvalent of Vaurltlan Chas been glven at the lnter bank rate as on ¸¡st Varch, zo¡¡ (¡ Vau C= ¡.¸¸oõ)
** !he ruµee equlvalent of Vaurltlan Chas been glven at the lnter bank rate as on ¸¡st Varch, zo¡o (¡ Vau C= ¡.µp¡;)
Statement of Changes ln Lqulty - ¥ear ended Varch ¸¡, zo¡¡
Cash llow Statement - ¥ear ended Varch ¸¡, zoop
Notes zovv zo¡o
Mau. C Cin Lacs* Vau. C Cln Lacs**
Cash Bows from operating activities
Loss for the year {v,zoo} {o.oz} (¡,zoo) (o.oz)
Net cash used ln oµeratlng actlvltles {v,zoo} {o.oz} (¡,zoo) (o.oz)
Net decrease in cash and cash equivalents {v,zoo} {o.oz} (¡,zoo) (o.oz)
Movement in cash and cash equivalents
At Aµrll ¡, ypq,pyo p.zq ¸põ,¡;o 8.po
Oecrease {v,zoo} {o.oz} (¡,zoo) (o.oz)
At March ¿v, yp¿,yyo p.zz ¸pµ,p;o 8.88
Audltors` reµort on µage 8z.
* !he ruµee equlvalent of Vaurltlan Chas been glven at the lnter bank rate as on ¸¡st Varch, zo¡¡ (¡ Vau C= ¡.¸¸oõ)
** !he ruµee equlvalent of Vaurltlan Chas been glven at the lnter bank rate as on ¸¡st Varch, zo¡o (¡ Vau C= ¡.µp¡;)

Notes to the llnanclal Statements - ¥ear ended Varch ¸¡, zo¡¡
¿. SHAÞL CAÞl1AL zovv zovo
Mau. C Cln Lacs* Mau. C Cln Lacs**
S1A1Lo CAÞl1AL
Ordlnary shares
At Aµrll ¡, and At Varch ¸¡, 8z,qop,p66 v,zyy.8y 8z,µop,põõ ¡,zzp.¸o
q oLlLÞÞLo 1AXA1lON
Oeferred lncome tax assets are recognlsed for tax losses carrled forward only to the extent that reallsatlon of related tax beneñt ls µrobable.
!he comµany has tax losses of Vau.C;µ,zõ8,¡¸p Cln Lacs ¡,¡¸¡.õo* (zo¡o :Vau.C;µ,zõõ,p¸p Cln Lacs ¡¡¸¡.¸8** ) to carry forward agalnst future
taxable lncome, whlch have not been recognlsed ln these ñnanclal statements due to cessatlon of buslness.
* !he ruµee equlvalent of Vaurltlan C has been glven at the lnter bank rate as on ¸¡st Varch, zo¡¡ (¡ Vau C= ¡.¸¸oõ)
** !he ruµee equlvalent of Vaurltlan C has been glven at the lnter bank rate as on ¸¡st Varch, zo¡o (¡ Vau C= ¡.µp¡;)
v. eLNLÞAL lNlOÞMA1lON
Arvlnd Sµlnnlng Llmlted ls a µrlvate comµany lncorµorated and
domlclled ln Vaurltlus. lts maln actlvlty ls the manufacture of
rlng and oµen end sµun cotton yarn. !he address of lts reglstered
ohce ls at ¡o, lrere lellx de valols Street, Þort Louls, Vaurltlus
and the µlace of buslness was at La !our koenlg, Þolnte aux Sables.
!he comµany ceased buslness ln August zooµ. Arvlnd Llmlted,
lncorµorated ln lndla ls the holdlng comµany.
!hese ñnanclal statements wlll be submltted for conslderatlon and
aµµroval at the forthcomlng Annual Veetlng of Shareholders of
the comµany.
z. SleNlllCAN1 ACCOuN1lNe ÞOLlClLS
!he µrlnclµal accountlng µollcles adoµted ln the µreµaratlon
of these ñnanclal statements are set out below. !hese µollcles
have been conslstently aµµlled to all the years µresented, unless
otherwlse stated.
{a} Basis of preparation
!he ñnanclal statements of Arvlnd Sµlnnlng Llmlted have
been µreµared under the break up basis. All assets have
been stated at the lower of cost and net reallsable value. All
long term assets have been reclasslñed as current.
{b} oeferred income taxes
Oeferred lncome tax ls µrovlded ln full, uslng the llablllty
method, on temµorary dlherences arlslng between the tax
bases of assets and llabllltles and thelr carrylng amounts ln
the ñnanclal statements. However, lf the deferred lncome
tax arlses from lnltlal recognltlon of an asset or llablllty ln
a transactlon, other than a buslness comblnatlon, that at
the tlme of the transactlon ehects nelther accountlng nor
taxable µroñt or loss, lt ls not accounted for.
Oeferred lncome tax ls determlned uslng tax rates that have
been enacted by the end of the reµortlng µerlod and are
exµected to aµµly ln the µerlod when the related deferred
lncome tax asset ls reallsed or the deferred lncome tax
llablllty ls settled.
Oeferred tax assets are recognlsed to the extent that lt ls
µrobable that future taxable µroñt wlll be avallable agalnst
whlch deductlble temµorary dlherences can be utlllsed.
{c} Þrovisions
Þrovlslons are recognlsed when the comµany has a µresent
legal or constructlve obllgatlon as a result of µast events, lt
ls µrobable that an outñow of resources that can be rellably
estlmated wlll be requlred to settle the obllgatlon.


AÞvlNO !LX!lLLS VlLLS LlVl!LO ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
Audltor`s Þeµort
!o the Shareholders of Arvlnd !extlles Vllls Llmlted
We have audlted the accomµanylng 8alance Sheet of Arvlnd !extlles Vllls Llmlted as of ¸¡ Varch, zo¡¡ and the related Þroñt and Loss Account and
Cash llow Statement for the year then ended. !hese ñnanclal statements are the resµonslblllty of the Comµany`s Vanagement. Our resµonslblllty ls
to exµress an oµlnlon on these ñnanclal statements based on our audlt.
We conducted our audlt ln accordance wlth 8angladesh Standards on Audltlng. !hose standards requlre that we µlan and µerform the audlt to
obtaln reasonable assurance about whether the ñnanclal statements are free of materlal mlsstatement. An audlt lncludes examlnlng, on a test
basls, evldence suµµortlng the amounts and dlsclosures ln the ñnanclal statements. An audlt also lncludes assesslng the accountlng µrlnclµles used
and slgnlñcant estlmates made by the management, as well as evaluatlng the overall ñnanclal statements µresentatlon. We belleve that our audlt
µrovldes a reasonable basls for our oµlnlon.
ln our oµlnlon, the ñnanclal statements referred to above glve a true and falr vlew of the state of the Comµany`s Ahalrs as of ¸¡ Varch zo¡¡ and of
the results of lts oµeratlons and lts cash ñows for the year then ended ln accordance wlth 8angladesh Accountlng Standards and comµly wlth the
Comµanles Act, ¡ppµ and other aµµllcable laws and regulatlons.
We further reµort that:
a. We have obtalned all the lnformatlon and exµlanatlons whlch to the best of our knowledge and bellef were necessary for the µurµoses of our
audlt and made due verlñcatlon thereof,
b. ln our oµlnlon, µroµer books of accounts as requlred by law have been keµt by the Comµany so far as lt aµµeared from our examlnatlon of those
books, and
c. !he Comµany`s 8alance Sheet and Þroñt and Loss Account dealt wlth by the reµort are ln agreement wlth the books of accounts malntalned by
the Comµany and examlned by us.
Ohaka ACNABlN
z¡ !uly, zo¡¡ Chartered Accountants
8;
8alance Sheet as of ¸¡ Varch, zo¡¡
Note ¿v.o¿.vv ¿v.o¿.vv ¸¡.o¸.¡o ¸¡.o¸.¡o
1aka Cin Lacs* !aka Cln Lacs**
l. SOuÞCLS Ol luNoS
v. Shareholders' lunds
a) Share Caµltal ¸ yoo,ooo,ooo ¿,o6p.yo ¸oo,ooo,ooo ¸,zµµ.zz
b) lssued, Subscrlbed 8 Þald-uµ Share Caµltal ¿,zoo,ooo vp.6q ;oo,ooo µ.¸µ
c) Share Þremlum µ zv,qyq,y6y v¿v.yv µ,¸zp,;o¸ zp.¸p
d) Share Aµµllcatlon ¸ y¿,y6q,ooo qyv.6v ¡p,µz¸,oõo ¡zõ.o¸
p8,zv8,y6y 6oz.p6 zµ,õ¸µ,;õ¸ ¡¸p.p8
ll. AÞÞLlCA1lON Ol luNoS
v. lixed Assets
z. Capital work-in-Þrogress {Building} qq,8yy,yy6 zyy.¿8 - -
¿. Current Assets, Loans and Advances zv,¿68,¿v8 v¿v.vy ¸,;po,õ¸; zµ.õo
a) Cash and 8ank 8alances õ vv,¿pz,6op 6p.p¿ µµ¸,õµõ z.88
b) Securlty Oeµoslt p,pyy,yop 6v.zq ¸,¸µ;,o¡¡ z¡.;z
q. Less : Current Liabilities 8 Þrovisions - - - -
y. Net Current Assets {z-¿} 66,zz6,opq qo6.yy ¸,;po,õ¸; zµ.õo
6. Miscellaneous
a) Þroñt and Loss Account ¿v,ppz,6yv vp6.qv zo,8õµ,¡o8 ¡¸¸.¸8
p8,zv8,y6y 6oz.p6 zµ,õ¸µ,;õ¸ ¡¸p.p8
!he annexed notes form an lntegral µart of the balance sheet.
1AYLSH k. SHAH 1AeolSH e. oALAL
Olrector Olrector
Ohaka,
Oate : z¡ !uly, zo¡¡
* !he ruµee equlvalent of !aka Chas been glven at the lnter bank rate as on ¸¡st march, zo¡¡ (¡ !aka C= o.õ¡)
** !he ruµee equlvalent of !aka Chas been glven at the lnter bank rate as on ¸¡st march, zo¡o (¡ !aka C= o.õ¸)
88
AÞvlNO !LX!lLLS VlLLS LlVl!LO ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
Þroñt and Loss Account for the µerlod from o¡ Aµrll zo¡o to ¸¡ Varch, zo¡¡
Note zovo-vv
1aka
zovo-vv
Cin Lacs*
zoop-¡o
!aka
zoop-¡o
Cln Lacs**
!urnover/Þevenue - - - -
Cost of Sales - - - -
eross Þroñt - - - -
Less: Oµeratlng Lxµenses: ; vv,vz8,y6¿ 68.¿¿ ¸;,¸o8 o.zµ
Net Loss {vv,vz8,y6¿} {68.¿¿} (¸;,¸o8) ( o.zµ )
Add: Accumulated Loss, brought forwarded {zo,86q,vo8} {vz8.o8} (zo,8zõ,8oo) (¡¸¸.¡µ)
Accumulated {Loss} transferred to Balance Sheet {¿v,ppz,6yv} {vp6.qv} (zo,8õµ,¡o8) (¡¸¸.¸8)
!he annexed note forms an lntegral µart of the Þroñt 8 Loss Account.
1AYLSH k. SHAH 1AeolSH e. oALAL
Olrector Olrector
Ohaka,
Oate : z¡ !uly, zo¡¡
* !he ruµee equlvalent of !aka Chas been glven at the lnter bank rate as on ¸¡st Varch, zo¡¡ (¡ !aka C= o.õ¡)
** !he ruµee equlvalent of !aka Chas been glven at the lnter bank rate as on ¸¡st Varch, zo¡o (¡ !aka C= o.õ¸)
Statement of Cash llows for the µerlod from o¡ Aµrll, zo¡o to ¸¡ Varch, zo¡¡
zovo-vv zovo-vv zoop-¡o zoop-¡o
1aka Cin Lacs* !aka Cln Lacs**
a} Cash llow from Operating Activities
Net Loss {vv,vz8,y6¿} {68.¿¿} (¸;,¸o8) (o.zµ)
Adjustment for ltems not lnvolvlng movement of cash:
Oeµreclatlon - - - -
(Galn)/loss on sale of ñxed assets - - - -
!ax µald - - - -
{vv,vz8,y6¿} {68.¿¿} (¸;,¸o8) (o.zµ)
Changes ln worklng caµltal comµonents:
lncrease ln Þreµayments (Securlty Oeµoslt) {6,6z8,6p8} {¿p.yz}
Net cash Bow from operating activities {vy,yyy,z6v} {voy.8y} (¸;,¸o8) (o.zµ)
b} Cash llow from lnvesting Activities
Caµltal work-ln-µrogress-8ulldlng {qq,8yy,yy6} {zyy.¿8}
{qq,8yy,yy6} {zyy.¿8} - -
c} Cash llow from linancing Activities
lssuance of Share at µremlum - - - -
Share Aµµllcatlon y¿,y6q,ooo qyv.6v - -
Net Cash Bow from linancing Activities y¿,y6q,ooo qyv.6v - -
Net surµlus/(deñclt) of cash 8 bank balance for the year (a+b+c) vo,pq8,p6¿ yv.oq (¸;,¸o8) (o.zµ)
Cash 8 bank balance at beglnnlng of the year qq¿,6q6 z.88 µ8o,p¸µ ¸.¡z
Cash 8 bank balance at end of the year vv,¿pz,6op y¿.pz µµ¸,õµõ z.88
* !he ruµee equlvalent of !aka Chas been glven at the lnter bank rate as on ¸¡st march, zo¡¡ (¡ !aka C= o.õ¡)
** !he ruµee equlvalent of !aka Chas been glven at the lnter bank rate as on ¸¡st march, zo¡o (¡ !aka C= o.õ¸)
8p
Notes to the llnanclal Statements for the µerlod from o¡ Aµrll zo¡o
to ¸¡ Varch, zo¡¡
v. lormation, Status and Activities
v.v lormation and Status
Arvlnd !extlle Vllls Llmlted, a µrlvate comµany llmlted by shares, was lncorµorated ln 8angladesh on z¸ Seµtember zooõ, under the
Comµanles Act, ¡ppµ, wlth authorlzed caµltal !k.¸oo,ooo,ooo (ñfty crores) dlvlded ln to ¸o,ooo,ooo (ñve crores) shares of !k.¡o (ten)
each. Subsequently the ;o,ooo (seventy thousand) shares of the comµany were acqulred by µromoters, Arvlnd lashlon Llmlted, Vr. !ayesh
kantllal Shah and Vr. !agadlsh Gajanand Oalal.
v.z Activities
!he comµany was establlshed wlth the µrlnclµal objectlves of carrylng of buslness of sµlnnlng, weavlng, or manufacturlng or lmµortlng,
exµortlng or deallng ln cotton or other fabrous substances and the µreµaratlon, dyelng or colorlng of any of the sald substances and the
sale, lmµort, exµort yarn, cloth or other manufactured fabrous µroducts.
z. Signiñcant Accounting Þolicies
z.v Basis of the Þreparation of linancial Statements
!hese ñnanclal statements have been µreµared under the hlstorlcal cost conventlon ln accordance wlth lnternatlonal Accountlng Standards
as adoµted ln 8angladesh.
z.z oepreciation on lixed Assets
As µer comµany`s µollcy, stralght llne method ls followed for charglng deµreclatlon on ñxed assets of the comµany. Ourlng the year under
audlt, deµreclatlon has not been charged as the comµany does not own any ñxed assets other than Land and Land Oeveloµment.
z.¿ eeneral
a) llgures ln the ñnanclal statements have been rounded oh to the nearest !aka.
b) Oollar amount has been converted uslng average converslon rate.
¿v.o¿.zovv ¿v.o¿.zovv ¸¡.o¸.zo¡o ¸¡.o¸.zo¡o
1aka Cin Lacs* !aka Cln Lacs**
¿. Share Capital
Authorlzed caµltal:
¸o,ooo,ooo ordlnary shares of !k.¡o each yoo,ooo,ooo ¿,o6p.yo ¸oo,ooo,ooo ¸,zµµ.zz
lssued, subscrlbed and µald-uµ caµltal:
¸,zo,ooo (Þrevlous ¥ear ;o,ooo) ordlnary shares of
!k.¡o each fully µald-uµ ¿,zoo,ooo vp.6q ;oo,ooo µ.¸µ
Oetalls of shareholdlngs are as under:
No. of share
Name of the shareholder
Arvlnd Llmlted. ¸¡8,õoo ¿,v86,ooo vp.y6 õ8õ,ooo µ.µ¸
Vr.!ayesh kantllal Shah ;oo y,ooo o.oq ;,ooo o.o¸
Vr. !agdlsh Gajanand Oalal ;oo y,ooo o.oq ;,ooo o.o¸
¿zo,ooo ¿,zoo,ooo vp.6q ;oo,ooo µ.¸¸
q. Share Þremium
;oo,ooo shares Q õµ.;¡ q,yzp,yoy zy.8v µ,¸zp,;o¸ zp.¸p
z,¸o,ooo shares Q õ;.;o v6,pzy,o6o vo¿.po - -
zv,qyq,y6y v¿v.yv µ,¸zp,;o¸ zp.¸p
po
AÞvlNO !LX!lLLS VlLLS LlVl!LO ANNUAL ÞLÞOÞ! zo¡o - zo¡¡
¿v.o¿.zovv ¿v.o¿.zovv ¸¡.o¸.zo¡o ¸¡.o¸.zo¡o
1aka Cin Lacs* !aka Cln Lacs**
y. Share Application
Share Aµµllcatlon vp,qzy,o6o vvp.zy ¡p,µz¸,oõo ¡zõ.o¸
Less : !ransfer to Share Caµltal 8 Share Þremlum on
Allotment
vp,qzy,o6o vvp.zy - -
Add : Share Aµµllcatlon recelved durlng the year y¿,y6q,ooo qyv.6v - -
y¿,y6q,ooo qyv.6v ¡p,µz¸,oõo ¡zõ.o¸
6. Capital work-in-Þrogress {Building}
Oµenlng 8alance - - - -
Add : Addltlon durlng the ¥ear qq,8yy,yy6 zyy.¿8 - -
qq,8yy,yy6 zyy.¿8 - -
Less : !ransferred durlng the ¥ear - - - -
qq,8yy,yy6 zyy.¿8 - -
y. Cash and Cash Lquivalent
Cash ln Hand vvz,yvy.oo o.6p - -
Cash at 8ank:
A/C = o¸µzoo¸¸µzooo¡ 6,zyy,oqy ¿8.y¿ p8,¸¸õ o.õµ
A/C = o¸µzoo8;¸zooo¡ y,ooz,8qp ¿o.yv ¸µ¸,¸¡o z.zµ
vv,¿pz,6op 6p.p¿ µµ¸,õµõ z.88
zovo-vv zovo-vv zoop-¡o zoop-¡o
1aka C in Lacs* !aka Cln Lacs**
8. Operating Lxpenses
Lease rental ¿,qz¿,zzq zv.oz - -
8ank charge ¿z8,yoo z.oz - -
!axes and Outles v,¿¿8,6¿¿ 8.zz ¡z,¸o8 o.o8
8uslness Oeveloµment Lxµenses 6,o¿8,zo6 ¿y.oy z¸,ooo o.¡õ
vv,vz8,y6¿ 68.¿¿ ¸;,¸o8 o.zµ
* !he ruµee equlvalent of !aka Chas been glven at the lnter bank rate as on ¸¡st march, zo¡¡ (¡ !aka C= o.õ¡)
** !he ruµee equlvalent of !aka Chas been glven at the lnter bank rate as on ¸¡st march, zo¡o (¡ !aka C= o.õ¸)


1he information as required by a general circular dated 8th lebruary, zovv by Ministry of Corporate
Ahairs granting general approval under Section zvz {8} of the Companies Act,vpy6 :
C ln crores
Sr.
No.
Name of Subsldlary Caµltal Þeserves !otal
Assets
!otal
Llabllltles
Oetalls of
lnvestment
!urnover Þroñt/(Loss)
before
!axatlon
Þrovlslon
for
!axatlon
Þroñt/
(Loss)
after
!axatlon
Þroµosed
Olvldend
(a) (b) (c) (d) (e) (f) (g) (h) (l) (j)
¡ Arvlnd Þroducts Llmlted ¡µ¡.¡o (õ¡.¸õ) ¸µo.o¸ µõo.¸o [¡¡ ¸õ¸.¸z o.µo - o.µo Nll
z Asman lnvestments Llmlted o.o8 (zz.¸¡) ¡¸;.¸8 ¡¸p.8z [z¡ ¸;.õo ¡.õ¡ o.õ¸ o.p8 Nll
¸ Arvlnd Worldwlde lnc. z.¡p (o.¸;) ¸.õ; z.o¸ [¸¡ o.oo o.¡µ (o.¡¸) o.z; Nll
µ Arvlnd Worldwlde (V) lnc. z¸.8; (z;.µ¡) ¡.µõ ¸.oo [¸¡ o.oo (o.oõ) - (o.oõ) Nll
¸ Arvlnd Þetall Llmlted zo.o¸ ¸¡.8o z;¸.8¡ zz¡.põ [¸¡ ¸8¸.µ¸ o.¸µ o.;¸ (o.zo) Nll
õ Arvlnd Llfestyle 8rands Llmlted zo.o¸ ¡¸z.¸¸ µ¸;.o; ¸oµ.õ; [µ¡ µz;.oo ¡;.¸¡ ;.z8 ¡o.zµ Nll
; Syntel !elecom Llmlted o.o¸ (¡.zµ) o.µ¸ ¡.õ¸ [¸¡ o.o¸ (o.oõ) - (o.oõ) Nll
8 Arvlnd Accel Llmlted o.o¸ o.o; ¡o.o¡ p.8p [¸¡ ¡;.¡o o.o; o.o¸ o.o¡ Nll
p !he Anuµ Lnglneerlng Llmlted ¸.µo zp.¡µ ¡oz.;; ;o.z¸ [¸¡ põ.¸8 z.8õ ¡.o¸ ¡.8¡ Nll
¡o Arvlnd lnfrastructure Llmlted o.o¸ o.¡o z¸.¸8 z¸.µ¸ [¸¡ zp.8¡ o.¡; o.op o.o8 Nll
¡¡ Arvlnd 8rands 8 Þetall Llmlted
(lormerly known as Sllverstone
Þroµertles Llmlted)
¡o.o¸ ¡;p.8z ¡p¡.¡¸ ¡.z¸ [õ¡ o.oo (o.o¡) o.oo (o.o¡) Nll
¡z Ahmedabad Last lnfrastructure LLÞ o.¸o (o.o¡) o.¸o o.o¡ [¸¡ o.oo (o.o¡) o.oo (o.o¡) Nll
C ln crores
[¡¡ lully µald Lqulty Shares(Quoted) o.¸õ
lully µald Lqulty Shares(Unquoted) zz.oo
[z¡ Not aµµllcable belng lnvestment
Subsldlary
[¸¡ !hese Comµanles have no
lnvestments.
[µ¡ lnvestment ln Govt. Securltles o.oz
[¸¡ lnvestment ln Þartnershlµ llrm ¡õ.õ;
[õ¡ lnvestment ln Þartnershlµ llrm ¡.¸p
NO1L uNoLÞ SuB-SLC1lON {v} Ol SLC1lON zvz
!he Vlnlstry of Corµorate Ahalrs has, vlde lts General Clrcular No. z / zo¡¡ (No: ¸/¡z/zoo;-CL-lll) dated 8th lebruary, zo¡¡, granted a general
exemµtlon to the Comµanles under Sectlon z¡z(8) of Comµanles Act, ¡p¸õ, relatlng to the statements to be attached ln resµect of the subsldlary
comµanles, wlth the ñnanclal statements of the Comµanles. As requlred, the lnformatlon ln aggregate for each of the subsldlary Comµany ls
furnlshed as under :
Shareholders lnterested ln obtalnlng the statements of Comµany`s lnterest ln the subsldlarles or stand-alone ñnanclal statements of the
subsldlarles may obtaln lt by wrltlng lt to the Comµany.
pz
ANNUAL ÞLÞOÞ! zo¡o - zo¡¡

Lear S|are|o|oers,
Sub: ereen lnitiative in Corporate eovernance
ve w|s| to |ntorm you t|at |n oroer to promote Creen Lnv|ronment, t|e ||n|stry ot Corporate Ana|rs, Hew Le||| (|CA) |as ta|en °Creen ln|t|at|veº |n
t|e Corporate Covernance by perm|tt|ng paper|ess comp||ances by Compan|es v|oe |ts C|rcu|ar Ho. :,/.o:: oateo .:.o,..o:: ano C|rcu|ar Ho. :8/.o:: oateo
.,.o,..o:: atter cons|oer|ng certa|n prov|s|ons ot t|e lntormat|on ¯ec|no|ogy Act, .ooo w||c| prov|oes t|e va||o|ty ot seno|ng oocuments t|roug| e|ectron|c
mooe ano |as c|ar|neo t|at t|e serv|ce ot oocuments by a Company can be maoe t|roug| e|ectron|c mooe |nsteao ot p|ys|ca| copy ot oocument(s).
lencetort|, we propose to seno a|| commun|cat|ons/oocuments |nc|uo|ng not|ces ca|||ng AC|, Auo|teo l|nanc|a| Statements, L|rectors' leport ano
Auo|tors' leport |n e|ectron|c torm to t|e L-ma|| lL prov|oeo/upoateo by you ano maoe ava||ab|e to us by t|e Le pos|tor|es.
ln oroer to rece|v|ng t|e oocuments |n e|ectron|c torm, ||no|y comp|y w|t| t|e to||ow|ng.
lor Shareholders holding shares in oemat lorm
ln case you oes|re to rece|ve t|e atoresa|o oocuments |n e|ectron|c mooe, ||no|y upoate your L-ma|| lL |n t|e Lemat Account by contact|ng your Lepos|tory
Þart|c|pant. L-ma|| upoateo |n t|e Lemat Account wou|o be useo to seno oocuments t|roug| e|ectron|c mooe.
lor Shareholders holding shares in Þhysical lorm

ln case you oes|re to rece|ve t|e atoresa|o oocuments |n e|ectron|c mooe |n ||eu ot p|ys|ca| mooe, ||no|y upoate your e-ma|| lL w|t| our leg|strar ano S|are
¯ranster Agent, S|arepro Serv|ces (lno|a) Þr|vate L|m|teo at ,:6-,.o, Levnanoan |a||, Opp. Sanyas As|ram, L|||sbr|oge, A|meoabao ¸8ooo6 by ma|||ng
your L-ma|| lL w|t| t|e to||ow|ng oeta||s to arv|no|to_s|areproserv|ces.com w|t| a scan copy ot |etter ou|y s|gneo by you. ¯|e s|gnature ment|oneo |n your
|etter s|ou|o be matc|eo as per spec|men s|gnature recoroeo w|t| t|e company.
lo||o Ho. . Hame.
L-ma|| lL. |ooe ot o|spatc|. L|ectron|c mooe
Þ|ease note t|at, as a member ot t|e Company, you w||| be ent|t|eo to be turn|s|eo, tree ot cost, w|t| a pr|nteo copy ot t|e 3a|ance S|eet ot t|e Company
ano a|| ot|er oocuments requ|reo by |aw to be attac|eo t|ereto |nc|uo|ng t|e Þront ano Loss Account ano Auo|tors' leport ano a|| ot|er commun|cat|on
t|at may be sent to you, upon rece|pt ot a requ|s|t|on trom you to t||s enect.
|embers w|o |ave not yet oemater|a||zeo t|e|r s|ares are requesteo to get t|e|r s|ares oemater|a||zeo at t|e ear||est.
/ou may a|so seno your consent |ncorporat|ng e-ma|| lL to rece|ve oocuments |n e|ectron|c mooe |n wr|t|ng to our leg|strar ano S|are ¯ranster Agent to
t|e to||ow|ng aooress . S|arepro Serv|ces (lno|a) Þr|vate L|m|teo at ,:6-,.o, Levnanoan |a||, Opp. Sanyas| As|ram, L|||sbr|oge, A|meoabao ¸8ooo6.
ve are certa|n t|at you wou|o apprec|ate t|e °Creen ln|t|at|veº ta|en by |CA ano your company's oes|re to part|c|pate |n suc| |n|t|at|ves.
l. v. 3||man|
Company Secretary
lOÞM Ol ÞÞOXY
AÞvlNo LlMl1Lo
Naroda Þoad, Ahmedabad - ¸8o oz¸.
l/We ¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸of
¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸ ln the Olstrlct of ¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸
belng a member / members of the above named Comµany hereby aµµolnt ¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸of
¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸ ln the Olstrlct of ¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸
or falllng hlm ¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸ of¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸
ln the Olstrlct of ¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸ or falllng hlm ¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸
of ¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸ ln the Olstrlct of ¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸as my / our
µroxy to vote for me / us on my / our behalf at the Annual General Veetlng of the Comµany to be held on lrlday, the ¸o
th
Seµtember,
zo¡¡ and at any adjournment thereof.
Slgned thls ¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸ day of ¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸ zo¡¡.
Slgnature:¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸ ¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸

L.l.No. ¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸
* Oeµosltory : NSOL/COSL ¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸
* OÞ. lO ¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸
* Cllent lO ¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸
* lor Shares held ln Llectronlc lorm
No. of Share(s) held ¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸
Notes :
(¡) A member entltled to attend and vote ls entltled to aµµolnt a µroxy to attend and vote lnstead of hlmself.
(z) A µroxy need not be a member.
(¸) !he comµleted form should be deµoslted at the Þeglstered Ohce of the Comµany at Naroda Þoad, Ahmedabad-¸8o oz¸ not less
than µ8 hours before the tlme for holdlng the meetlng.
AÞvlNo LlMl1Lo
Þegd. Ohce : Naroda Þoad, Ahmedabad - ¸8o oz¸.
A11LNoANCL SLlÞ
l hereby record my µresence at the Annual General Veetlng held at !hakorebhal Oesal Hall, Near Law Garden, Llllsbrldge, Ahmedabad
- ¸8o ooõ on ¸o
th
Seµtember, zo¡¡ at ¡o.¸o a.m.
¡. L.l.NO. ¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸
z. * Oeµosltory : NSOL/COSL¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸
¸. * OÞ. lO ¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸
µ. * CLlLN! lO ¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸
* lOÞ SHAÞLS HLLO lN LLLC!ÞONlC lOÞV
¸. lULL NAVL Ol !HL SHAÞLHOLOLÞ : ¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸
(lN 8LOCk LL!!LÞS)
õ. NO. Ol LQUl!¥ SHAÞLS HLLO: ¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸
;. SlGNA!UÞL Ol !HL SHAÞLHOLOLÞ
OÞ ÞÞOX¥ A!!LNOlNG : ¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸
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(ÞLLASL GlvL lULL NAVL Ol !HL ¡
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!OlN!HOLOLÞ)
VÞ/VÞS/VlSS ¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸
(!O 8L USLO ONL¥ WHLN llÞS! NAVLO SHAÞLHOLOLÞ lS NO! A!!LNOlNG)
¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸¸
NO!L : ÞLLASL llLL lN !HlS A!!LNOANCL SLlÞ ANO HANO l! OvLÞ A! !HL LN!ÞANCL Ol !HL HALL.
Ahx
¡¸ Þalse
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labric Coupon
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!lme : ¡¡-oo A.V. to õ-oo Þ.V.
8lll No. Oate
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labric Coupon
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labric Coupon
A Þs. zyo-oo valld Uµto ¸o.op.zo¡z
!lme : ¡¡-oo A.V. to õ-oo Þ.V.
8lll No. Oate
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labric Coupon
A Þs. zyo-oo valld Uµto ¸o.op.zo¡z
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8lll No. Oate
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labric Coupon
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!lme : ¡¡-oo A.V. to õ-oo Þ.V.
8lll No. Oate
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labric Coupon
A Þs. zyo-oo valld Uµto ¸o.op.zo¡z
!lme : ¡¡-oo A.V. to õ-oo Þ.V.
8lll No. Oate
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Þegd. Ohce: NAÞOOA ÞOAO, AHVLOA8AO - ¸8o oz¸.
!he holder of thls couµon wlll be entltled to ¡¸/ dlscount on the µrlce of cloth of Arvlnd Llmlted
and Arvlnd Þroducts Ltd. µurchased at any Þetall Shoµ ln Ahmedabad and ¡z.¸/ dlscount at
other Þetall Shoµs mentloned below :
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,, |un|c|pa| Commerc|a| Centre,
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Arvind Limited
Naroda Road,
Ahmedabad - 380 025

Directors Mr. Sanjay S. Lalbhai Mr. Jayesh K. Shah Mr. Sudhir Mehta Dr. Bakul Dholkia Mr. Munesh Khanna Mr. G. M. Yadwadkar Mr. Prabhakar Dalal Ms. Renuka Ramnath Nominated by IDBI Bank Ltd. Chairman & Managing Director Director & Chief Financial Officer

Nominated byExport-lmportBankoflndia

Company Secretary Mr. R.V.Bhimani

CONTENTS
Bankers State Bank of India Bank of Baroda UCO Bank State Bank of Patiala HDFC Bank Ltd. Standard Chartered Bank ICiCI Bank Ltd. Export-Import Axis Bank Ltd. State Bank of Hyderabad Bank of India Notice Directors' Report
1

6 9
21

Corporate Governance Report Management Discussion and Analysis Strategy & programmes for "Corporate Social Responsibility" Auditors' Report

2010-11

25

26
28

Balance Sheet Profit & Loss Account Cash Flow Statement Schedules forming part of Accounts Balance Sheet Abstract & Company's General Business Profile Consolidated Financial Statements TheArvind Overseas (Mauritius) Limited

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30 31

Auditors Sorab S. Engineer & Co. Chartered Accountants Ismail Building,
381, Dr. D. Naoroji Road,

54
55

78
82

Fort, Murnbai-aoo

001.

Arvind Spinning Limited Arvind Textile Mills Limited

86

Registered Office Naroda Road, Ahmedabad - 380025.

REGISTRARS AND TRANSFER AGENTS

Sharepro Services (India) Private Limited 416-420, 4th Floor, Devnandan Mall, Opp. Sanyas Ashram, Ellisbridge, Ahmedabad -380 006. Phone Nos.: 079-26582381 to 84 Fax No.: 079-26582385 E-mail: sharepro.ahmedabad@shareproservices.com

Notice
NOTICE is hereby given that the Annual General Meeting of the members of the Company will be held on Friday, the 30th September, 2011 at 10:30 a.m. at Thakorebhai Desai Hall, Near Law Garden, Ellisbridge, Ahmedabad380006 to transact the following Business: ORDINARY BUSINESS 1. To receive, consider and adopt the Audited Statements of Accounts for the financial year ended on 31st March, 2011and the Reports of the Directors and Auditors thereon. To appoint a Director in place of Mr. Sanjay S. Lalbhai, who retires by rotation in terms of Article 129 of the Articles of Association of the Company and being eligible, offers himselffor reappointment. To appoint a Director in place of Mr. Sudhir Mehta, who retires by rotation in terms of Article 129 of the Articles of Association of the Company and being eligible, offers himselffor reappointment. To appoint auditors and to fixtheir remuneration. To consider, and if thought fit, to pass with or without modification(s), the following Resolution, as an Ordinary Resolution: RESOLVED THAT Ms. Renuka Ramnath, who was appointed as an Additional Director ofthe Company by the Board of Directors pursuant to Section 260 of the Companies Act, 1956 and who holds the office upto the date of this Annual General Meeting and in respect whom the Company has received a notice in writing from a member proposing her candidature forthe office of Director U/s.257ofthe Companies Act, 1956, being eligible for appointment to the office of Director, be and is hereby appointed a Directorofthe Company liable to retire by rotation. 6. To consider, and if thought fit, to pass with or without modification(s), the following Resolution, as aSpecial Resolution: RESOLVED THAT pursuant to the provisions of Sections 198, 269, 309, read with Schedule XIII and other applicable provisions, if any, of the Companies Act, 1956, (including any amendment thereto or enactment thereofforthetime beingin force) the consent ofthe Company be and is hereby accorded to the terms of reappointment of Mr. Jayesh K.Shah as Wholetime Director with the designation of Director and Chief Financial Officer of the Company, for a further period of three years from ist October, 2011 to 30th September, 2014 on the terms and conditions as set out in the draft agreement of the reappointment submitted to the meeting and initialed by the Chairman for identification and that he be paid remuneration by way of salary, perquisites, allowances and commission as approved by the Board of Directors of the Company and the Remuneration Committee and as set out in the Explanatory Statement annexed hereto. RESOLVEDFURTHERTHATthe Board of Directors and the Remuneration Committee be and are hereby severally authorised to alter, amend, vary, enhance or modifythe scope and quantum of remuneration of Mr. Jayesh K.Shahasthey maydeem properfrom time to time considering the nature and scope of his activities as shall be permissible and in conformity with applicable provisions ofthe Companies Act, 1956. 7To consider and, if thought fit, to pass with or without modification(s), the following resolution as a Special Resolution: RESOLVEDTHAT pursuant to the provisions of Section 17,18and other applicable provisions, if any, of the Companies Act, 1956 and subject to necessary approvals, permissions, sanctions of any authority, Statutory or otherwise, as may be required and subject to such conditions and modifications as may be prescribed by these authorities, the Main Object Clause (2) of Memorandum of Association of the Company be and is hereby altered by inserting following new Sub Clause (2)(S) afterexisting Clause (2)(r) so asto read as under: (2)(S) To carry on business as builders, contractors, developers and to engage in development of land and/or building property of any tenure, nature or kind and to engage in organization, purchase, trading, sale, lease, exchange of property and to construct, maintain, repair, renovate property, itself or through other agencies and to hold property for development,construction,sale, lease,hire, or exchange andto participate in joint ventures for development of property and to provide services for development of land and/or building, property, real estate consultancy, real estate brokerage, construction management, architecture, engineering and other technical services, interior design services and to carry on and undertake the business of ownership, operation, maintenance, management, administration, protection and upkeep of service apartments, Building, Colonies, Townships, Complexes, Houses, Schools, Departmental Stores, Hotels, Restaurants, Resorts, Clubs, Recreational Facilities, Parks, Roads, Basements, Open Spaces, Common Areas, Common Facilities and to provide infrastructural facilities. RESOLVED FURTHER THAT all the copies of Memorandum Association ofthe Company be altered accordingly. of

2.

3.

4. 5.

SPECIAL BUSINESS

RESOLVED FURTHER THAT the Board of Directors (including any committee thereof) be and are hereby authorised to do all such acts, deeds, matters and things as may be considered desirable, expedient and necessary and to file necessary Forms/ Retu ttvs] Applications/ Docu ments / Papers as are required to be filed with the office of the Registrar of Companies, Gujarat, Ahmedabad and other authorities, Statutory or otherwise as may be required to give effectto this resolution.
8.

To consider and, if thought fit, to pass with or without modification(s), the following resolution as aSpecial Resolution: RESOLVED THAT pursuant to the provisions of Section 149 (2A) and other applicable provisions, if any, of the Companies Act, 1956,approval of the shareholders be and is hereby accorded to the Company for commencement of business specified in the sub-clause (s) of Clause (2) ofthe object clause of Memorandum of Association ofthe Company.

To consider and if thought fit, to pass with or without modification(s), the following resolution as aSpecial Resolution: RESOLVEDTHAT subject to approval of shareholders and pursuant to the provisions of Section 81(1A) and other applicable provisions, if any, of the Companies Act, 1956 (lncludlng any amendments thereto or reenactment thereof, for the time being in force) and the provisions of the Foreign Exchange Management Act, 2000 (FEMA), Foreign Exchange Management (Transfer or issue of Security by a Person Resident Outside India) Regulations, 2000, Issueof Foreign Currency Convertible Bonds and Ordinary Shares(Through Depository Receipt Mechanism) Scheme,1993as amended, the Securities and ExchangeBoard of India(SEBI)Regulationsand in acco rdance with the ru les,regulations, guidelines,notifications, circu lars and clarifications issuedthereon from time totime by Government of India (GOI), the Reserve Bank of India (RBI), SEBIand/or any other competent authorities and the enabling provisions of the Memorandum and Articles of Association of the Company, the Listing Agreements entered into by the Company with the stock exchanges on which the Company's shares are listed and subject to necessary approvals, permissions, consents and sanctions of concerned statutory and other authorities and subject to such conditions and modifications as may be prescribed by any of them while granting such approvals, permissions, consents and sanctions and which may be agreed to by the Board of Directors of the Company (hereinafter referred to asthe "Board", which term shall include any committee thereof) consent of the Company be and is hereby accorded to the Board to create, offer, issue and allot (including with provisions for reservation on firm and/ or competitive basis,of such part of issueand for such categories of persons including employees of the Company as may be permitted) either in India or in the course of international offering(s) in one or more foreign markets, such number of Global Depository Receipts (GDRs), Foreign Currency Convertible Bonds (FCCBs),with or without agreen shoe option including byway ofa qualified institutional placement underthe provisions of Chapter VIII ofthe SEBI(Issue of Capital and Disclosure Requirements) Regulations 2009 ("SEBI ICDR Regulations") Equity Shares and/or Equity Shares (through Depository Receipt Mechanism or directly to investors) and/ or any other financial instruments convertible into Equity Shares or otherwise, in registered or bearerform and/or anysecurity convertible into

issue. in its absolute discretion deem necessary and desirable including the filing of any forms. linked to Equity Shares and/or securities with or without detachable warrants with right exercisable by the warrant holders to convert or subscribe to Equity Shares provided that the equity shares issued do not exceed for an aggregate value up to ~ 300 Crores including the issue and allotment of equity shares pursuant to a Green Shoe Option. Guarantors.380 006. completed. (all of which are hereinafter collectively referred to as "Securities") or any combination of Securities. Devnandan Mall. listing applications. in order to be effective. deeds. private placement(s). Bankers. amalgamation. issue and allotment considering the prevailing market conditions and other relevant factors and wherever necessary in consultation with Lead Managers. in one or more tranches. The Register of Members and Share Transfer Books ofthe Company will remain closed from Saturday.Ahmedabad. to any eligible person. stabilizing agents and/or any other categories of investors. whether rupee denominated or denominated in foreign currency. offer documents.and the relevant date forthe determination of applicable price forthe issue of the Secu rities means the date of the meeti ng in wh ich the Board of the Company or the Committee of Directors decides to open the proposed issue. Documents referred to in the Explanatory Statement attached hereto are availablefor inspection by the shareholders at the Registered Office of the Company during businesshourson anyworkingday. Trustees. Registrars. By Orderofthe Board 6. 4th Floor. individuals or otherwise). Equity Shares.and in the event of merger. takeover or any other reorganization or restructuring. the 24th September. ifany. offer and allot equity shares or securities convertible into equity shares for a value up to the aggregate amount of ~ 300 Crores (Rupees Three Hundred Crores Only) inclusive of such premium. Members are requested to bring their copies ofthe Annual Reportto the meeting. 7· Registered Office: Naroda Road. Lawyers. 1956. at a discount or premium to market price or prices in such manner and on such terms and conditions including security. 2011 SANJAY S. Custodians. Sharepro Services (India) Private Limited. fees or the like and also to enter into and execute all such arrangements. Proxies.allunclaimed dividends up to the financial year ended 31stMarch. be subject to the following terms and conditions: (a) in the event of the Company making a bonus issue by way of capitalization of its profits or reserves prior to the allotment of the Equity Shares. Advisors and all such agencies as may be involved or concerned in such offerings of Securities and to remunerate them by way of commission. 1956(lncludtng any amendments thereto or re-enactment thereof). PursuanttoSection 205Cofthe Companies Act. The Members/Proxies should bring the Attendance Slip sent herewith dulyfilled in forattendingthe meeting. difficulty or doubt that may arise in regard to the offer. issue and allotment shall be made to the exclusion of other categories of Investors at the time of such offer. 2011to Friday. opening a separate special account with a scheduled bank to receive monies in respect ofthe issue ofthe equity shares ofthe Company. 2. deeds. or a combination thereof at such time or times. if any. Ellisbridge. all such shares ranking pari passuwith the existing EquityShares ofthe Companyin all respects. rate of interest etc. issue and allotment of Securities and approving the issue price. Registered Office: Naroda Road. Mutual Funds. 1998have been transferred to the Investor Education and Protection Fund (IEPF)ofthe Central Government. LALBHAI Chairman &Managing Director . 2011 5· By Orderofthe Board (b) SANJAY S. Non-Resident Indians. including foreign/resident investors (whether institutions. should be duly stamped. the provisions of Chapter VIII of the SEBI ICDR Regulations and the provisions of the Foreign ExchangeManagement Act. Stabilizing Agent. (b) (c) RESOLVED FURTHER THAT the Board be and is hereby authorized to appoint the Lead Managers. RESOLVEDFURTHERTHAT pursuant to the provisions of Section 81(1A) and other applicable provisions.2011 RESOLVEDFURTHERTHAT the issue of Equity Shares underlying the Securities to the holder of the Securities shall. Indian and/or Multilateral Financial Institutions.as specified above. if any. 416-420. Ahmedabad-gso 025 Date: zoth May. with any stock exchange or other regulatory authority whether in India orabroad and to settle any question. agreements. 2000. documents etc. The Com panydid not declare any dividends 0 nequ ityshares forthe fi nancial years 1998-99to 2003-04Members are requested to notify promptly any change in their addresses to our Registrar and Transfer Agent viz. the price and the time period as aforesaid shall be suitably adjusted. the number of Equity Shares to be allotted shall stand augmented in the same proportion in which the equityshare capital increases as a consequence of such bonus issue and the premium. whether they be holders of shares of the Company or not (collectively called the "Investors'') through public issue(s) of prospectus. Shareholders intending to require information about Accounts to be explained in the Meeting are requested to inform the Companyat least 7 days in advance ofthe Annual General Meeting. as provided under Chapter VIIIofthe SEBI ICDRRegulatio ns. as may be deemed appropriate by the Board at its absolute discretion including the discretion to determine the categories of Investors to whom the offer. inter alia. incorporated bodies. Foreign ExchangeManagement (Transfer or issue of Security by a Person Resident Outside India) Regulations. registration statements and any other documents or any drafts thereof or any amendment(s) or supplements thereto. issued and allotted shall be subject to the provisions of the Memorandum and Articles of Association ofthe Company. RESOLVEDFURTHERTHATforthe purpose of giving effectto the above resolution. Unit: Arvind Limited. the 30th September. AMEMBER ENTITLED TOATTENDANDVOTEATTHE MEETING ISENTITLED TOAPPOINT A PROXYTO ATTEND AND VOTE INSTEAD OF HIMSELFANDA PROXY NEED NOT BEA MEMBER.ARVIND LIMITED ANNUAL REPORT 2010 . at such price or prices. the number of shares. asthe Board at its absolute discretion maydeem fit and appropriate. shall stand reduced pro tanto. the Board of Directors mayattheir absolute discretion. Depositories. SanyasAshram. the entitlement to the Equity Shares will stand increased in the same proportion as that of the rights offer and such additional Equity Shares shall be offered to the holders ofthe Securities at the same price at which the same are offered to the existingshareholders. Opp. memoranda. securities. arranging the delivery and execution of all contracts. the Board be and is hereby authorized take such steps and to do all such acts. matters and things as it may. agreements and all other documents. Foreign Institutional Investors. 2000. and instruments as may be required or desirable in connection with the issue of equity shares by the Company. mutual funds. 2011(both days inclusive). RESOLVEDFURTHERTHAT: (a) the Securities to be so offered. to Qualified Institutional Buyers (as defined by the SEBIICDR Regulations) pursuant to a Qualified Institutional Placement (QIP). in the event ofthe Company makinga rights offer by issue of Equity Shares priortothe allotment ofthe Equity Shares.ofthe Companies Act. LALBHAI Chairman & Managing Director NOTES 1. RESOLVEDFURTHERTHATthe Board beand is herebyauthorizedto issue and allot such number of Equity Shares as may be required to be issued and allotted upon conversion of any Securities or as may be necessary in accordance with the terms of the offering. signed and deposited at the Registered Office of the Company not less than 48 hours before the meeting. Underwriters. with such agencies and to seek the listing of such Securities on one or more national and/or international stock exchange(s). brokerage. Ahmedabad-gso 025 Date: zoth May.

Renuka Ramnath has demonstrated her ability to identify and conceptualize new business opportunities. at their meeting held on zoth May. in terms of Section 2570fthe Companies Act. The Board of Directors ofthe Companyattheir meeting held on 28th October. 2011to 30th September. Ms. Ms.lncaseof benefits for which no specific rule of valuation is provided under the Income-Tax Act. as per rules of the Company. Renuka Ramnath has been involved with buildingseveral businesses from scratch in the ICiCI Group which include Investment Banking. ii) iii) The above shall not be included in the computation remuneration or perquisites aforesaid. The Remuneration Committee. but subjectto maximum salaryoH 10.lfthe Director & Chief Financial Offcer is having his own accommodation. The Company has received a notice in writing alongwith the necessary amount as deposit from a member signifying his intention to propose hercandidatureforthe offce ofthe Director. of ceiling on Ms. had recommended the reappointment of Mr.The Board of Directors. In her career spanning nearly two and a half decades in the Indian financial sector.6 of the Notice relates to the reappointment of Mr. No other Directors are in any manner concerned or interested in the said resolution. Ms.00. The aggregate value of perqu isitesfor (i) to (iv) abovefor eachyear shall be computed as perthe provisions of Inco me-Tax Act.5billion) have been the then largest domestic funds raised in the Indian market. Shah as Wholetime Director with the designation of Director and Chief Financial Offcerofthe Company for afurther period ofthree years from ist October. 2014 and approval of his remuneration and terms of reappointment. 2011are as under: Remuneration: (a) Basic Salary: ~ 3. Renuka Ramnath may be deemed to be concerned or interested in the said resolution relating to her appointment. India). the following perquisites / allowances shall be allowed tothe Director & Chief Financial Offcer: CATEGORY-A i) Housing: The Company shall provide furnished accommodation to the Director & Chief Financial Offcer. Ms.5 for approval of members. 2011to 30th September. Renuka Ramnath is the Founder and Managing Director of Multiples Alternate Asset Management which seeks to manage circa $450 million of Indian and International capital. Jayesh K. electricity. ii) iii) Other Allowances: The Companyshall pay other allowances as perthe Company's policy. Renuka Ramnath asan Additional Directorofthe Company. had approved the same.625 (Rupees Three Lacs Thirty Thuosand Six Hundredtwenty Five only) per month with such increase as may be decided by the Board of Directors (which includes any Committee thereof) from time to time. Shah effective from ist October. Jayesh K.000 (Rupees Ten Lacs) per month.5 STATEMENT PURSUANT TO SECTION '73 OF THE COMPANIES ACT. The Company shall provide equipment and appliances. 1961. Personal Accident Insurance: The Company shall pay / reimburse Personal Accident Insurance Premium upto ~ 25. Multiples Equity FundTrustee Private Limited Shri Nath G Corporate Management Services Private Limited Multiples Alternate Asset Management Private Limited No membership or Chairpersonshipin anycommittee of other companies. 1956 and accordingly the said Director holds offce upto the date of this Annual General Meeting. servants etc. Renuka Ramnath led ICiCI Venture to become India's largest private equity fund whilst transforming the firm from a bank's investment arm to a traditional blue-chip private equity fund managing substantial amounts of third party capital. 2014 as approved by both Remuneration Committee and Board of Directors in their respective meetings held on zoth May. at its meeting held on zoth May.both domestic and international. v) Medical Reimbursement: Medical Expenses actuallyincurredforselfandfamilyshall by the Company.30. 2011to 30th September. Item No. India's most Powerful CEO's (Economic Times) and in the Top 25 Non Bank Women in Finance (US Banker'sglobal list). 2014. 1956. The Company shall reimburse the expenses of maintenance. '956 The material terms of remuneration of Mr. encashed full pay and allowances. 2. The Company shall provide telephone and other communication facilities at the residence of the Director & Chief Financial Offcer at the entire cost ofthe Company. (b) Perquisites and Allowances: In addition to salary. 2011. the perquisites value of such benefitshall betaken at actual cost. but than one month's leave for every eleven months of service. Ms. including the Top 25 Most Powerful Women in Business(Business Today. 2011.EXPLANATORY Item NO. The Board commends the resolution at Item NO. All four funds raised by her (aggregating to US$1. The said appointment was in pursuance ofthe provisions of Section 260 ofthe Companies Act. be reimbursed 3- CATEGORY-B i) The Companyshall contribute towards Provident Fund/Superannuation Fund/Annuity Fund provided that such contributions either singly or put together shall not exceed the tax-free limit prescribed under the Income-tax Act. zoio appolnted Ms. Memberships/Chairpersonships of Committees of other Companies held by Ms. Leave on not more However. iv) Club Fees: The Company shall reimburse annual fees fora maximum of 2clubs.000forthe Director & Chief Financial Offcer. CATEGORY-C i) The Company shall provide car(s) with driver at the entire cost of the Company for use on Company's business and the same will not be considered as perquisites. fixtures and furnishing at the residence of the Director & Chief Financial Offcer at the entire cost ofthe Company. The Remuneration Committee and the Board of Directors of the Company are ofthe opinion that he isfitand proper person to hold the said offce and his reappointment will be in the interest ofthe Company. Shah as Wholetime Director with the designation of Director and Chief Financial Offcer of the Company and terms of remuneration payable to him for a further period of three years from ist October. much before each oftheseterms became ubiquitous in Indian marketplace. the Company shall pay house rent allowance at the rate of 30% ofthe BasicSalary.6 Resolution under Item No. ii) . As a result. Structured Finance and e-Commerce in the 1990Sand Private Equityin 2000. Jayesh K. The Companyshall pay Gratuity as per rules ofthe Company. The details of Directorships. RenukaRamnath areas under: Directorships held in other Companies: Memberships/Chairpersonships of Committees of other Companies: 1. Renuka Ramnath is not holding any shares of the Company and is not related to any Director ofthe Company. the leave accumulated but not availed of will be allowed to be atthe end ofthe term as per rules ofthe Company. furniture. she has featured in many prestigious listings. create high quality teams and quickly build these businesses to scale.

Shah does and its General Information 1. mentioned supervision remuneration from timetotime Committee payable enhanced the or modified amount by the Board of Directors and Whole Time of Company Directors in fields. Jayesh K. Jayesh with the K. Jayesh K. the Company can pay remuneration provided. he is deemed None of the other to be concerned or interested of the Company 4· Financial based on given Indicators forthe year ended 31. pay remuneration fora period notexceedingthree as provided above or the II of Part II of years by way of salary.2011 July. growth supply incomes. unless otherwise Committee. or in any other Remuneration prescribed Companies of ~150 lacs per annum may determine Sections Committee FY.000 1. at day. Pecuniary Relationship with the Company. residential commercial II. Linked profits as the Variable Pay/Special Allowance/Role Award/Bonus/Commission or such other the overall within Past Remuneration: FY. In view and possibility Background details: Mr. commission XIII of the Companies and perquisites payable as perthe orthe limits set out in Section Remuneration Minimum be altered. commensurate appointees the size of the Company. Act. Directly or Indirectly payment remuneration The Company in a financial year when it has no or has inadequacy approval the profiles to ~ 4 lacs per month members' of managerial the resolution byway of salary as well as perquisites by way of special resolution fora period not exceeding inter alia. at its discretion. in any way. increased role of the service Company. includes 1. Act.39. Accordingly. relationship have any pecuniary Company managerial The Board commends The Drafts 1931 and commenced the resolution at Item Nos. 6 for your approval.69. Foreign Income The above explanatory ~ in Crores 2725-73 445·55 134. has been obtained can revise of upto the relevant details would be w.6 Jayesh K. as Special Resolution.000 1. proposed. 1956. Taking relevant into consideration his qualifications and expertise in the to hi m by the Chairman and control asthe Directorand Chief and he will carry out such duties and Managi ng Director from of Board of Directors. of organized retail makes very strong case for venturing into business tst estate developmentforthe .18. the relevant details for meeting are as under: 6. Information 1. of Activities appearing as per Project in the Prospectus: Performance Since the resolution at Item relates Directors remuneration in the is. 2. of Agreement Offceofthe to be entered Companyduring No. Director of interest and hence the same may be treated with Section 302 ofthe Item NO.03-2011) ~1137. Pe rqu isites/allowances Commission/Bonus limit of 5%ofthe anything annual net profits herein of the are The aforesaid net profits contained.80. amended. (As Financial Statements Exchange forthe in the area of real estate of various due to in Foreign Investments by Exports: is a huge potential and grade for development of commercial micro sector real estate realty business in India like development real estate for quality of the mismatch enhanced country at macro and real estate. the Companywill remuneration or its profits Job Profile and their Suitability: Mr. or Item No. Proposed: Since the same have been already the same are not repeated.654 - etc. 1993 and prior to his employment associated with grou p compan with the Company he was ies for seven years. Shah. concerned K. a commerce graduate and Chartered since Accountant has been in employment with the Company space.ARVIND CATEGORY-D The Director and Chief LIMITED Financial form under Offcer shall be entitled to Performance on amount limit of Particu lars Salary 2.as may is lower. he is suited for the responsibilities assigned to him or the Remuneration maximum accordance Schedule as it may.subject Remuneration.50. 1956. including Meeting.443 Fund and remuneration provisionsofthe Overall Limit: 198 and 309 and other applicable Act 1956.00. at Item Nos.t. and textile is and of In this era of economic business the Company facets economic disposable of real and Net Foreign Exchange Collaborations year ended 31. Jayesh him is with the provisions XIII or any amendments Act. by the Board of Directors of Central Government. S.80. Production: The Com pany was incorporated commercial production on ist June. 1956. Shah. the country Considering benchmarks. real estate. Expected Approved Notapplicable (As per audited Date of Commencement by Financial Institutions business hourson to payment 3· In case of New Companies. the responsibilities with by him and the industry be paid to packages paid to similar remuneration three years. about the appointees level. 1956. whichever if required.03-2011) or interested in the resolution. Remuneration explained Comparative the Company. to Mr. shouldered proposed remuneration the in other remuneration the companies. construction.00. 1956.000 79.09-10 30. Director inadequate.68.1O-11 34.7 The Company products. those of in detail hereinabove. varied. Remuneration Profile ofthe made hereafter in General in this regard within the over all limits approved In terms ofthe the limitof profit by the Company Companies Position and Person (in case of expatriates Schedule XIII tothe of managerial of profit. in any financial year during the Company the currency has no profits & Chief Financial Offcer. Size of Profile with respect to Industry. 6 is put before the members XIII tothe CompaniesAct As required underSchedule I.654 contribution to Provident of the Company. Shah has been beappointed Financial Offcer ofthe Company as may be entrusted butsubjectto time to time.s8 Crores. also looking is presently at various There retail engaged mainly in the business oftextiles liberalization opportunities and growth. of his origin): of Mr. ifany: Mr. statement also sets out an abstract in accordance of material terms of as Financial Statements Particulars Sales& Other EBIDTA Net Profit 5. Jayesh said resolution. Nature of Industry: Date or Expected Textiles Date Industry of Commencement of Commercial remuneration personnel. within by the Board of Directors. Export Performance per audited Earnings 6. hospitality of vast demand of rapid growth or Collaborators.80 the contract an abstract Companies with Wholetime of memorandum Act.r. the for payment K. into between inspection the Company and Mr.443 86. maximum Schedule determined to approval The above remuneration and subject is subjecttothe further Notwithstanding of the Company where to the overall limit of 10% of the annual to the contrary of tenure Total Note: Remuneration Superannuation. 6to be sentalongwiththe noticecallingthegeneral Relationshipwith Besides not the the Managerial Personnel.99. to Managing ofthe thereto Companies deem fit. if any: Not Applicable. Shah for remuneration the Registered isavailablefor by the shareholders any working of thereafter. ANNUAL REPORT 2010 . 4. Shah.

The exact price. SEBI (Issue of Capital and Disclosure Requirements) Regulations. The actual composition of various instruments will be decided by the Board in consultation with the Merchant Bankers/Investment Bankers and as per the requirements of the funds from time to time and such offer shall be made to any person including domestic/foreign investors. whether they be holders of the Equity Shares of the Com pany or not. In view of this.9 contained in the Notice relates to a proposal by the Company to create. Section 17ofthe Companies Act. Mutual Funds. The allotment of Securities will be made within a period of one yearfrom the date of passing ofthe aforesaid Special Resolution excluding the time taken in obtaining the necessary approvals. Item No. warrants and/or other securities convertible into or linked to equity shares and/or any other instruments and/or combination of instruments as stated in the resolution as 'Securities'. to accelerate further growth. The goal ofthe Com panywh ich hasunuti lized realestate assetsisto design. an enabling resolution is proposed to be passed to give adequate flexibility and discretion to the Board to finalise the terms of the issue. The pricing ofthe issue would be subject to SEBIICDR Regulations asthe same cannot be decided except at a later stage and therefore it is not possible to state the price or the exact number of Securities or shares to be issued. which term shall include any committee thereof. As per Chapter VIII ofthe said SEBIICDR Regulations. The real estate and construction business activities as discussed hereinabove can be conveniently and advantageously combined with the existing business ofthe Company.). 1956andthe relevantclausesofthe Listing Agreement with the Stock Exchanges where the EquityShares ofthe Company are listed provides.Stock Exchange(s) orother concerned authorities. long-term working capital requirements. The Company has a comparatively high gearing ratio and it is always better to raise equity base ofthe company to strengthen the net worth and debt/equity ratio of the company. as set out in the notice. pursuant to the provisions of Section 81 (lA) and other applicable provisions of the Companies Act. LALBHAI Chairman & Managing Director . 2009 ("SEBIICDR Regulations") and in terms of the provisions of the Listing Agreements. Insurance Companies. 1956. Hence. when it is proposed to increase the issued capital of the Company by allotment of the further shares. The Company is proposingto issueSecuritiestothe Qualified Institutional Buyers to augment its capital and to accelerate further growth. Pursuant to Section 149 (2A) of the Companies Act. issue and allot equity shares. an amendment in the object clause is proposed to be made byinserting new Sub-Clause (2) (s) afterthe existingSub-Clause (2) (r) ofthe Memorandum and Association ofthe Company. None of the directors of the Company is concerned or interested in the aforesaid special resolution. Foreign Institutional Investors. The Board of Directors may in its discretion adopt this mechanism as prescribed under Chapter VIII of the SEBI ICDR Regulations for raising the funds for the above pu rposes. it is proposed to seek the shareholders approval byway of passing the special resolution as aforesaid. Trusts. 1956 ("Act'. None of the Directors of the Company is interested or concerned in the said resolution. meeting long-term working capital requirements to finance investment opportunitiesforthis purpose seeksyour approval tothe resolutions proposed. if any. Accordingly. decides to open the proposed issue. The Company needs to augment its capital keeping in view the current macro-economic environment. None of the directors of the Company is concerned or interested in the aforesaid special resolution. consent of the shareholders of the Company is being sought in terms of Section 81(lA) and other applicable provisions of the Com panies Act. It is proposed to start new line of business in the field of real estate. 7The Board recommends the special resolution as set out in the notice for approval by the shareholders. Approval ofthe shareholders is sought for commencement and carrying out of new business and activities as detailed in Special Resolution No. FCDs. Pension Funds etc.Your Company has certain unutilized real estate assets which it can put to better use and development and can also explore further and tap the opportunities lying ahead in the boomi ng realty market. 1956 stipulates that the object clause of the Memorandum and Association can be altered by a special resolution passed by the shareholders of the Company. offer. the Company plans to issue Equity Shares or Securities equivalentthereto for an amount not exceeding ~ 300 crores in value and therefore proposes issue of securities.execute and market new real estate products.9 The Resolution NO. Qualified Institutional Buyers. Section 81(lA)ofthe Com panies Act. or within such further period as may be prescribed orallowed by the SEBI. GDRs. ADRs. The Board recommends the special resolution. The Securities issued pursuant to the offering(s) would be listed on the Indian Stock Exchanges and/or Internationally Recognised Stock Exchange as may be required. Since the Special Resolution proposed in the Notice relates to issue of shares to persons other than existing shareholders of the Company.8 The Company has inserted new Sub-Clause (2) (s) afterthe existing Sub-Clause (2) (r) in the object clause of Memorandum of Association of the Company. 2011 By Orderofthe Board SANJAY S. The Special Resolution also seeks to empower the Board. pro po rtio n. fund various expansion plans. For the reasons aforesaid. NCDs. Registered Office: Naroda Road. It is proposed to commence a new business of real estate as inserted in the newly introduced Sub-Clause of object clause. to issue and allot Securities as stated in the Special Resolution. Ahmedabad-gso 025 Date: zoth May. Banks. the consent ofthe shareholders ofthe Company is being sought. issue of Securities. such further shares shall be offered to the existing shareholders ofthe Company in a manner laid down in Section 81 unless the shareholders in general meeting decide otherwise. 1956. on QIP basis. approval of the shareholders is necessary byway of special resolution before commencement of any of the activities as mentioned in the proposed new object clause of the Memorandum and Association ofthe Company. to undertake a qualified institutional placement with qualified institutional buyers as defined by SEBI ICDR Regulations. inter alia.can be made at a price not lessthan the average of the weekly high and low ofthe closing prices ofthe Securities quoted on a stock exchange during the two weeks preceding the Relevant Date.The "Relevant Date" meansthe date ofthe meeti ng in wh ich the Board or the Com mittee of Directors du Iyauthorised by the Board. Item NO. In order to enable the Company to enter into real estate business. for approval by the shareholders.ti mingandte rms ofthe issue ofSecu rities underthe QI Pwill be decided by the Board based on the analysis of specific requ irements in consultation with the merchant bankers to the QIP in accordance with the SEBIICDR Regulations and other applicable guidelines issued by any statutory authority (ies). fund various expansion plans.

Hence. Exceptional Interest.00 45°·12 45°·12 113.13 314-42 314-42 SUBSIDIARIES Adetai led discussion on su bsidiary compan iesandthei r performance during the year is contained Analysis Reportwhich Pursuant of Chartered Consolidated to Accounting Accountants Financial in the Management Discussion and forms part ofthis Report. by the and its subsidiary 5· 2010-11 Turnover & Operating Income Profit before Depreciation.31 0.80 52.80 1. the Company are pleased to report that during the year 2010has achieved best financial performance in the Sheth on 18th July.00 0·90 45°·12 0. 2010 to 31st FINANCE During the year. Ms. Despite sharp increase in raw material cost. The Company has received propose heras as an Additional recent past. at an exercise price of ~ 14. the Company subsidiaries are included in the Annual Report. 4. 2010 who had served the Company as a Director for 5 years and place on record their highest sense of appreciation forthevaluable services rendered by himtothe Company.76 0.2011. EMOLOYEE STOCK OPTION SCHEME (ESOS) The Company has instituted and directors directors of the the Employees Stock Option Schemecertain eligible employees companies. Director of the of of Dr.84) 134·80 314. While revenue has grown by 16%.27 155-47 165. 1956. 1. Directors being eligible. the Company has been able to expand EBIDTA margin which significant operational demonstrates efficiency the pricing power enjoyed to by the Company in the domestic as well as export markets. She holds office only upto the date of this Annual General Meeting pursuant to the provisions a notice from a memberofthe a Director on the Board. retire by rotation. Arvind Textile Mills Limited has not commenced its business. Your Directors March. 2010.00 0. Further gains have also contributed higher profitability margins. ofthis report. of ~ 92 Crores for Long Term requirements. but Company intendingto Section 260 ofthe Companies Act. The details as of SEBI Guidelines are annexed and form part requirements 116.20 315. DIVIDEND Keeping in mind the need to conserve resources. the Company as per the provisions of the Accounting DIRECTORS Your Directors express their grief at the sad demise of Mr.16 134·80 26.65 each. for re-appointment.42 0. Lalbhai and Mr. the accounts of Arvind Overseas (Mauritius) Limited and Arvind Spinning Limited have not been of these prepared on the going on concern basis. Renuka Ramnath was appointed as an Additional Director the Company on 28th October. 3. the Company has repaid the installments Loans amounting funding The Company has also made fresh borrowings capital expenditure and other of Term are pleased to present the Annual Report along with the Audited Financial Statements to ~ 86 crores falling due during the current year. Governance as laid down in Clause 49 of the Listing Agreement are complied with. Bakul Dholakia was appointed Company on 21StJuly. CORPORATE GOVERNANCE Your Company Governance requirements is committed to the tenets of good Corporate the and has taken adequate of Corporate steps to ensure that any dividend on Equity Shares forthe year.00 0. for the period from ist April. .84 (26. the accounts subsidiary companies have not been consolidated relatingto 7. The strong performance of Denim and Shirting Fabrics which achieved 17% growth in revenue has been key drivers ofthe growth. Consolidation of Accounts.89 321. 2010.2011 Directors'Report To the Members. Exceptional 2009-10 2316.22 445·55 194·59 25°·96 27-50 lacs options were granted to certain eligible employees and of the Company Committee and its subsidiary companies Remuneration representing perthe 6.80 (ESOS)to grant equity based incentivesto Company 2691. Tarun OPERATIONS: Your Directors 11. with accounts of Standard 21 Your Directors appropriate the same as under: Interim Dividend on Preference Shares paid Tax on Interim Dividend Balance carried forward to next year Total 2. In view of the closure of business. Mr. At the ensuing Annual General Meeting. Sudhir Mehta. A detailed analysis ofthe financial results is given in the Management Discussions and Analysis report which forms part ofthis report.ARVIND LIMITED ANNUAL REPORT 2010 . FINANCIAL RESULTS Highlights of Financial Results fortheyear are as under: ~ in Crores Debt including lease of the Company stands to ~ 988 crores as on 31StMarch.your not recommend Directors do 8.00 282-34 0-43 19. Standard Statements AS-21 issued by the Institute has prepared and its of the Company of India. Sanjay S.00 8-77 (8·77) 52. EBIDTA has grown by 33% and Net Profit has grown by 159% at ~ 135 crores as against Net Profit of ~ 52 crores in the previous financial year. Items & Taxation Less: Interest and Finance costs Gross Profit Taxation Less: Deprecation/Impairment Profit before Tax Less: Current Tax Add: MA T Credit Entitlement Profitfortheyear Balance of Profit brought forward Less: Adjustment due to Demerger Less: Transferto Add: Transfer Reserve Balance Availablefor Appropriation Capital Redemption Reserve from Debenture Redemption after Interest & Finance costs Items & but before Depreciation. 2011. offerthemselves ofthe Company. one share for each option upon exercise.

maintenance with the the end ofthe financial year ended on 31StMarch. There are no outstanding By Order ofthe Board Place: Ahmedabad Date: zoth May. 2011 SANJAY S. 9. 3- proper and sufficient care has been taken forthe of adequate provisions accounting records appoint the auditors and ftx their remuneration. as per the provisions of Section 219 (1) (b) (iv). 10. standards and outgo. ETC. by the Company and their Certificate 1956 read with Companies (Particulars annexed to the Report on Corporate of Employees) Rules. RESPONSIBILITY STATEMENT of this report. such particulars the same at the Registered Office of the Company or write to the Secretary for a copy. have been followed. You are requested to as auditors and such judgements made as are reasonable and prudent so as to give a true and fairview ofthe state of affairs ofthe Companyatthe Companyforthat period. AUDITORS The Auditors. Any may inspect The Directors confirm that: 1. However. Banks. the statements of accounts forthe year ended on 31St March. of Particulars Rules. in the preparation accounting of the annual accounts. 1956 for safeguarding and assets ofthe Company and for preventing and detecting fraud and other irregularities.A separate report on Corporate Governance and a Management 11. has not accepted or renewed any deposits during and overdue deposits as at 31St performance the year. technology shareholder interested and foreign relating to conservation exchange earning of employees. 2. Financial vendors it deeply. INFORMATION Information REGARDING CONSERVATION OF ENERGY Discussion and Analysis Report are being published as a part of the Annual Report ofthe Company. 2011and ofthe profit ofthe for re-appointment. 4. such accounting consistently policies have been selected and estimates and applied have been 12. retire and offer themselves It is proposed that Sorab S. 1975. and buyers has also been invaluable to the Company's and your Directors take this opportunity to appreciate FIXED DEPOSITS The Company March. ACKNOWLEDGEMENT Your Directors would liketo appreciate the efforts ofthe Company's employees for their continued extended co-operation and unstinted support of all lenders including Banks and to the Company. re-appointed Sorab S. The Auditors Corporate Agreement of the Company have certified that conditions of is Governance as stipulated are complied under Clause 49 of the Listing Governance. be of the Company. Engineer & Co. Engineer & Co. AND EMPLOYEES required under Section 217(1)( e) ofthe Companies Act. Overseas 2011 have been prepared on agoing concern basis. and the statement of particulars material departu res from the applicable accou nti ng standards. The support Institutions.2011. 13... Commercial in accordance of the Companies Act. the report and accounts are being sent to all shareholders the Company the applicable There are no excluding the information absorption in obtaining of energy. LALBHAI Chairman and Managing Director .asamendedfromtimetotime. 1988 and under Section forms part of 1956 read with Rule 2 of the Companies (Disclosure in the Report of Board of Directors) 217(2A)oftheCompaniesAct.

SoO options made. 1999: 1 2 3 4 S 6 7 8 9 10 a b c Number of Options Granted Pricing Formula Number of Options Vested N umber of Options Exercised Total Numberof Shares arising out of Exercise of Options Nil - 23. ii.72.shall intrinsic value is Nil. risk free rate expected life expected volatility 7-61% 4. ~S·63 Company method.1of the Securities and Exchange Board of India (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines. the Diluted Earnings Per Share (EPS) pursuantto calculated in accordance with Accounting Where the company compensation has calculated 12 the employee the intrinsic value of the stock options. iii. However.01 years S4·S3% 0.32. during anyone year.604 and ~ S.72. the difference have been recognized if it had used thefairvalue The impact ofthis difference disclosed. ii.00 lacs Basic and diluted EPS would have reduced to ~ S. equals market price exceeds market price is less than market price equals market price exceeds market price is less than market price ofthe method and significant assumptions of options. the compensation would have been ~ 7S.72.2011 Annexure to the Directors' Report Disclosures under Clause 12. accounts for options under the intrinsic at market value Standard (AS) 20 . . equal warrants and Nil Nil Nil to or exceeding 1% of the issued capital (excluding outstanding conversions) 11 ofthe company atthe time of grant issue of shares on exercise of option compensation cost using cost that shall be disclosed.SoO NIL Novariations ~ 3A7. including the following information:used duringtheyearto ~ 14·6S Nil Nil 13b Weighted Fair Values for options whose exercise pricei.601 respectively. The assumptions underare as 14 A description estimate thefairvalues weighted-average i. ii. ~ 7-26 Nil Nil Black Scholes Option Pricing Model. Number of Options Lapsed Variation in the terms ofthe Options Money Realized by Exercise of Options Total number of Options in Force Employee wise Details of Options Granted toSenior Management Personnel Any other employee who receives agrant in any one year of option amountingto S% or more of options granted duringtheyear Identified employees who were granted options. iffairvalue the accounting ofthe options (computed usingthe Black cost on profits and on EPS ofthe company shall also be Scholes Option Pricing Model) was to be used for calculating value of the option.Earnings Per Share between the employee Since options are granted price. iv.SOO 23.00 lacsandthe lesser by ~ 7S.S7.SoO 23. v. iii. profits would have been 13a Weighted Average Exercise Prices for options whose exercise pricei. iii. cost so computed and the employee compensation ofthe options.ARVIND LIMITED ANNUAL REPORT 2010 .28% ~ 14·6S expected dividends and the price ofthe underlying share in the market atthe time of option grant.125/2.

Bakul Dholakia has been appointed as a Non-executive-I ndependent *** Ms. Business Restructuring. Business Presentations Marketing. and integrity. Sudhir Mehta Mr. Governance The Company's philosophy on Corporate not merely to meet with statutory best practices for governance. G. of other Directorships in Public Limited Companies S 11 4 - Name of Director Executive!Non-executive!lndependent No. M. Agenda papers are generally circulatedto year is as under: the Board members at least 4-S working days in advance. Thefollowing Sr. Yadwadkar Mr. Remuneration Committee and Investors' Grievance Committee. covering Production. etc.Executive from varied fields who bring in independent The Board has 8 Directors. 2010. the shareholders accountability and expectations ofthe society. Corporate requirements go beyond them by putting into place procedures and systems which are in accordance with Governance at Arvind means being responsive to aspirations of all the stakeholders role to align and direct the actions of the organization GovernanceatArvind. etc. 2011: No. Meetings are governed byastructured ofthe meeting in consultation Agendaand a Board member may bring upany matter for consideration informed decisions. 1Managing Directorand who are also Independent Directors 1 Director and Chief Financial Officer and 6 Non. New Projects and JointVentures. 1 2 Mr.W. with the Chairman. Renuka Ramnath has been appointed as a Non-executive-Independent Board Agenda The annual calendar of Board and Committee Directorwith Meetings is agreed upon atthe beginning of each year. Lalbhai Mr. employees. 2010. Given below isthe report on Corporate Board of Directors Composition of the Board of 2 Executive Directors viz. This objective extends. lenders. Shah Mr. Detailed presentations are made at the meetings on all major issues to enable the Board to take placed before the Board duringthe Implementation. No. Bakul Dholakia** Mr. Subsidiaries. Jayesh K. which are not in the normal course of business. Assets. Tarun Sheth. Non-Compliances. butalsoto accountability and integrity. Performance of Subsidiaries. Capital Expenditure Proposals and review oftheir Quarterlyand Product-wise Annual Results. Sales of Material Nature of Investments. detailed in Clause 49 ofthe Listing Agreement. of other Board! Committees Member! of which Chairman - 3 4 S 3asChairmanand 1asMember - 2 2 1 4asaChairman - 6 7 8 9 1asMember 1asMember - 3 - * Mr. The Non-Executive Directors are leading professionals judgment to the Board's discussions and deliberations. effect from zsth October. comprising Directors. . Khanna Mr. Sanjay S. R. An indicative list ofthe information • • • • • • • • • • • • • Annual Budgets and Updates thereon.customers. Tarun Sheth" Dr. Materially Important Management Committee. Minutes of Meetings of Audit Committee. Other relevant information Company including information . Legal Proceedings involving the Company. 2010. Show Cause Notices. etc. ** Dr. pertainingtothe if any. Business Performance. Raw Materials. Sales. a Non-executive-I Director has ceased to be a Director due to death on 18th July. Renuka Ramnath*** Executive-Chai rman & Managi ng Director Executive-Directorand Chief Financial Officer Director Director Director Nominee Directorof Nominee Directorof Director Director EXIM Bank of India IDBI Bank Limited Non-executive-Independent Non-executive-Independent Non-executive-Independent Non-executive-Independent& Non-executive-Independent& Non-executive-Independent Non-executive-Independent ndependent is the Composition ofthe Board as at jist March. The Board of Directors supports the broad principles of Corporate and lays strong emphasis on its trusteeship to achieve its avowed objectives of transparency. Directorwith effect from zrst July. suppliers. Munesh Khanna Ms.Corporate Governance Report Company's Philosophy on Code of Governance Governance is to attain the highest levels oftransparency.

ARVIND

LIMITED
met 4 times on 29th May, 2010, 29th July, 2010, zsth October,

ANNUAL REPORT 2010 - 2011

Meetings and Attendance
During the year, the Board of Directors 2010 & 27th January, 2011. The gap between The Attendance of Directors at these Board two Board Meetings was within the maximum time gap prescribed in Clause 49 ofthe Meetings and atthe last Annual General Meetingwas as under: Listing Agreement.

Sr. No.
1 2

Name of Director
Mr. Sanjay S. Lalbhai Mr. Jayesh K. Shah Mr. Sudhir Mehta Mr. Tarun Sheth" Dr. Bakul Dholakia** Mr. R.W. Khanna Mr. G. M. Yadwadkar Mr. Munesh Khanna Ms. Renuka Ramnath***

Number of Board Meetings held during the period when the Director was on the Board
4 4 4 1

Number of Board Meetings attended
4 4

Whether present at the previous AGM
Yes Yes No N.A. Yes No No Yes N.A

3
4 5 6 7 8 9

3
-

3
4 4 4 2

3 3
2 2
-

* Mr. Tarun Sheth, a Non-executive-I ndependent

Director has ceased to be a Director due to death on 18th July, 2010. Director with effect from zist July, 2010. Directorwith effect from zsth October, 2010.

**. Dr. Bakul Dholakia has been appointed as a Non-executive-Independent ***Ms. Renuka Ramnath has been appointed asa Non-executive-Independent

Committees of the Board
The Board of Directors has constituted • • • • Audit Committee Remuneration Committee and 4 Committees ofthe Board viz.

Investors' Grievance Committee Management Committee

The Board determines the terms of reference ofthese Committee noting.
1.

Committees

from time to time. Meetings ofthese Committees

Committees

are convened by the respective perusal and

Chairman/Company

Secretary. At each Board Meeting, minutes ofthese

are placed before the Directors fortheir

Audit Committee
The Audit Committee of the Company comprises of 4 members, all of whom are Non-Executive The Committee Independent Directors. Mr. Munesh Khanna, Director acts as Chairman of the Committee. members are professionals having requisite experience in the fields of

an Independent

Finance and Accounts, Bankingand Management. The Audit Committee met a times duringtheyear. The Directorand Chief Financial Officer and representatives of Internal and Statutory Auditors

are invitees to Audit Committee

meetings and the Company Secretary acts as the Secretary ofthe Audit Committee.

Role
Theterms
1.

of reference ofthe Audit Committee

are as under: process and the disclosure of its financial information to ensure thatthefinancial statement is

Oversight ofthe company's financial reporting correct, sufficient and credible.

2.

Recommendingto

the Board the appointment,

re-appointment

and, if required, the replacement

or removal ofthe statutory auditor and the

fixation of audit fees.

3· 4· (a) (b) (c) (d)

Approval of payment of statutory auditors forany other services rendered by the statutory Reviewing, with the management, the annual financial statements Matters required to be included in the Director's Section 217ofthe Companies Act, 1956. Changes, ifany, in accounting Majoraccounting policies and practices and reasons forthe same. Responsibility

auditors.

before submission tothe board for approval, with particular reference to: Statement to be included in the Board's report in terms of clause (2AA) of

entries involving estimates based on the exercise of judgment by management. made in the financial statements arising out of audit findings.

Significant adjustments

[!Q]

(e)

Compliance with listing and other legal requirements Disclosure of any related partytransactions. Qualifications in the draft audit report.

relatingto

financial statements.

(f)
(g)
5. 6.

Reviewing, with the management, the quarterly financial statements Reviewing, with the management, performance Reviewingthe

before submission tothe board for approval.

of statutory and internal auditors, adequacy ofthe internal control systems. structure ofthe internal audit department,staffingand seniority ofthe

78. 9.

adequacy of internal audit function, if any, includingthe department, reporting structure

official headingthe

coverage and frequency of internal audit. and follow up thereon. or a

Discussion with internal auditors any signiflcantflndings Reviewing the findings of any internal investigations

by the internal auditors into matters where there is suspected fraud or irregularity

failure of internal control systems of a material nature and reporting the matter to the board. 10. Discussion with statutory auditors before the audit commences, about the nature and scope of audit as well as post-audit discussion to

ascertain any area of concern. 11. To look into the reasons for substantial defaults in the payment to the depositors, debenture of declared dividends) and creditors. 12. 13. To review the functioning ofthe Whistle Blower mechanism, in case the same is existing. as is mentioned in the terms of reference ofthe Audit Committee. shall have the same meaning as contained in the Accounting of India. shall have Standard 18, Related Party holders, shareholders (in case of non payment

Carrying out any otherfunction

Explanation (i):

The terms "related party transactions"

Disclosure, issued by The Institute of Chartered Accountants Explanation (ii): Ifthe Company has set up an audit committee such additional functions/features 14. 15. 16. 17. 18. 19. 20. Management discussion and analysis offlnancial

pursuant to provision ofthe Companies Act, the said audit committee

as is contained in this clause. condition and results of operations. by management.

Statement of significant related party transactions

(as defined by the Audit Committee),submitted

Management letters/ letters of internal control weaknesses issued by the statutory auditors. Internal audit reports relatingto The appointment, internal control weaknesses;and ofthe Chief Internal Auditorshall be subjectto review by the Audit Committee.

removal and terms of remuneration

To look into any other matter which may be referred to it by the Board. In addition to the above, the Committee shall have such functions/role/powers as may be specified in the Companies Act, Listing Agreement

with Stock Exchanges orany other applicable law.

Meetings and Attendance
Duringtheyear, Membersat 4Audit Committee Meetings were held on 29th May, 2010, 29th July, 2010, 28th October, 2010 & 27th January, 2011.The Attendance of meetings was as under:

Sr. No.
1 2 3 4 5 6

Name
Mr. Tarun Sheth" Mr. Munesh Khanna Mr. R.W. Khanna Mr. G. M. Yadwadkar Mr. Sudhir Mehta** Dr. Bakul Dholakia***

Position
Member Chairman Member Member Member Member

No. of Meetings held during relevant period
1 4 4 4 1 3

No. of Meetings attended
-

2 3 2 1 3 dueto death on 18th July, 2010.

* Mr. Tarun Sheth, a Non-executive-Independent

Director has ceasedto be a member ofthe committee onlyforthe

** Mr. Sudhir Mehta was appointed as a member ofthe Committee *** Dr. Bakul Dholakia (Non-executive-Independent Director)

meeting held on 29th May, 2010. with effect from 21StJuly, 2010.

has been appointed asa Member ofthe Committee

ARVIND
2.

LIMITED
of the Company has constituted Committee a Remuneration Committee consisting

ANNUAL REPORT 2010 - 2011

Remuneration Committee
The Board of Directors Independent of 3 Directors, all of whom are Non-Executive Directors. The Remuneration did not meet duringtheyear.

Role
Theterms 1. 2. 3of reference ofthe Remuneration Committee are as under:

To frame company's policies for compensation To Reviewand recommend To administer ESOS. compensation

and benefits for Executive Directors. Executive Directors.

payabletothe

and supervise Employee Stock Option Schemes (ESOS) including framing of policies related to ESOS and reviewing grant of

4.

To Review HR Policies and initiatives.

Meetings and Attendance
No meeting was held duringthe period 1StApril, 2010to 31st March, 2011.

Remuneration of Directors
Remuneration of Executive directors is recommended by the Remuneration Committee and approved by the Board of Directors and the Shareholders ofthe Company. The Remuneration Companyfora Committee and the Board of Directors at their respective meetings held on 30th October, 2009 and shareholders at their Annual

General Meeting held on 2sth September, 2010 have approved remuneration period ofthreeyears his tenure, remuneration The Remuneration and otherterms. and the Board of Directors Directorwith

payable to Mr. Sanjay S. Lalbhai, Chairman and Managing Director ofthe

from ist January, 201OtO 31st December, 2012. The Company has entered into an agreement with him laying down

Committee

at their respective meetings held on zoth May, 2011 have approved

remuneration

payable from ist

to Mr. Jayesh K. Shah, Whole-time

designation as Directorand and otherterms.

Chief Financial Officer ofthe Company for a period ofthreeyears

October, 2011to 30th September, zoia subject to approval ofthe shareholders agreement with him laying down his tenure, remuneration The remuneration of Non-Executive

atthe ensuing Annual General Meeting. The Company will enter into an

Directors is determined

by the Board and is also approved by the Shareholders in General Meeting. Non-Executive attended by them. Apart from this, Non-Executive are entitled for commission not exceeding 1% ofthe net profits ofthe Company

Directors were paid Sitting Fees of ~ s,oooj-for Directors (other than Managing Directorand perannumfor eachyearfora

every meeting of Board of Directors or Committee 1StApril, 2010.

Whole Time Director(s))

period of gyears commencingfrom

Within the above limit, Executive Directors and Non-Executive

Directors have been paid commission fortheyearas

under:

Sr. No.
1 2 3 4 S 6 7 8 9

Name of Director
Mr. Sanjay S. Lalbhai (Chairman &MD) Mr. Jayesh K. Shah Mr. Sudhir Mehta Mr. Tarun Sheth" Dr. Bakul Dholakia** Mr. R.W. Khanna Mr. G. M. Yadwadkar Mr. Munesh Khanna Ms. Renuka Ramnath***

Salary

~
4Sooooo.00 34Soooo.00 NIL NIL NIL NIL NIL NIL NIL

Perquisites & Allowances~
9620136.20 7918443.00 NIL NIL NIL NIL NIL NIL NIL

Sitting Fees ~
NIL NIL 30000.00 NIL 40000.00 30000.00 20000.00 20000.00 NIL

Commission! Bonus~
12S00000.00 8600000.00 sooooo.oo NIL 417S3S·00 600000.00 600000.00 600000.00 169863.00

Total~
26620136.20 19968443.00 S30000.00 NIL 4S7S3S·00 630000.00 620000.00 620000.00 169863-00

* Mr. Tarun Sheth, a Non-executive-Independent

Director has ceased to be a Director dueto death on 18th July, 2010. ndependent Director on zist July, 2010. Director on 28th October, 2010.

** Dr. Bakul Dholakia has been appointed as a Non-executive-I

*** Ms. Renuka Ramnath has been appointed as a Non-executive-Independent

3.

Investors' Grievance Committee
The Investors' Grievance Committee has 4 Members comprising of 2 Non-Executive Directors and 2 Executive Directors.

Role
The terms of reference ofthe Investors' Grievance Committee are as under:

Sanjay S. 57 years. Shareholders Meetings and Attendance Duringthe year. Mr. Management Committee The Management Committee consists of'z Directors. 1. Lalbhai Mr. Bakul Dholakia (Non-executive-Independent Director has ceased to be a member ofthe committee Director) has been appointed as a Memberofthe dueto death on 18th July. Lalbhai. The Management Committee met 21times duringtheyear. 3 Investors' Grievance Committee Meetings were held on 29th July. Shah Position Member Member No. Sudhir Mehta Dr. of Meetings attended Nil 3 3 2 2 34· 5 * Mr. Stolen. Management. Bakul Dholakia** Position Chairman Member Member Member Member No. Directors re-appointment. 2010. 2010.21 The Attendance Management Committee Meetings were held on various dates.a Non-executive-Independent **Dr. Name Mr. 2010 & 27th January. Committee's primary role is to look after the day-to-day business activities of the Company within Board approved direction/ as and when need arises to transact matters within the purview of its terms of reference. of Meetings attended 21 21 MANAGEMENT DISCUSSION AND ANAL YSIS This is given as aseparate chapter in the Annual Report. Tarun Sheth" Mr. Sanjay S. Meetings and Attendance Duringtheyear. Lalbhai Mr. Jayesh K. No. Name Mr. Mutilated Share and Debenture Certificates Non-receipt of Rights. of Meetings held during relevant period 21 21 No.The Attendance of Members at meetings was under: Sr. Sanjay S. (in case of Non-Payment of To look into other related issues towards strengthening To consider and approve Issuance of Share/Debenture 34. Sanjay S. with effect from 29th July. Sanjay Lalbhai and Mr. Jayesh K. He has been associated with the Company for almost 32years and has been Managing Directorforthe . To specifically look into the Redressal of Investors' Grievances pertainingto: Transfer of Shares and Debentures Dividends. 1. Tarun Sheth. The Committee meets frequently. Lalbhai Mr. To look into the reasons for any defaults in the payment to the Depositors. Split Share Certificates Investors' Relations. is the Chairman and Managing Director of the Company.all of whom are Executive Directors. 28th October. Bonus. Holders. retire by rotation and being eligible seek Mr. Interests and Redemption Dematerialisation Proceeds of Debentures of Shares and Debentures Replacement of Lost. Shah Mr. 2010. • • • • • 2. Sudhir Mehta.1. Role The Management framework. of Members at meetings was as under: Sr. Certificates including Duplicate Share/Debenture Debenture Certificates. He is a Science Graduate with a Master's degree in Business last 26 years. 2. Declared Dividends) and Creditors. 2. Brief profiles ofthe above Directors alongwith particulars oftheir directorships and committee memberships are as under: of the Company. 2011. No. committee 4. of Meetings held during relevant period Nil 3 3 3 2 No. Brief Resume of Directors seeking Re-appointment/ Appointment Information required under Clause 49 IV (G) of the Listing Agreement with respect to the Directors retiring by rotation and seeking reappointment/Directors sought to be appointed is as under:At the ensuing Annual General Meeting.

USA. The Director under this Code. 1992. as the Company's Public Spokesperson • Code of Conduct for Directors and Senior Management Personnel Interms of para No. the Board of Directors ofthe Company has laid down aCode of Conduct fora II Board Personnel of the Company. He has managed strategic alliance with leading International Generation Limited. The Head (Legal & Secretarial) has been appointed asthe Compliance Officerfor ofthe Code across the Company. France and Power Generation Limited now merged with Torrent power projects in India. Torrent few successful independent USA.l.ARVIND Sr. No. Media and the Arvind web-site in a timely mannerto enable the investors to take informed is sought to be made to the Public investment with regard to the Company's Securities. obligations are cast upon Directors and Officers to preserve Price Sensitive Information. He is not holding any equity shares ofthe Company and not related to any Director ofthe Company. Bangladesh Arvind Spinning Limited. He is the Executive Chairman of Torrent Power Limited. The Personnel ofthe Company have affirmed compliance with the Code.. The Chairman & Managing Director to the Company that all the Board Members and Senior Management Personnel of the Company have . implementation Price Sensitive decisions • Arvind Code of Corporate Disclosures . Chairman of Torrent Pharmaceuticals Limited. He systematically Power SEC Limited and Torrent in the growth and progress of Torrent Pharmaceuticals Limited. Mauritius Ananya Investments Private Limited Animesh Holding Private Limited Mr. Limited - The Arvind Overseas (Mauritius) Arvind Textile Mills Limited.This code lays down principles and procedures with the objective of ensuringthatthe Information through related to the Company is handled in prescribed manner. Members and Senior Management Board Members and Senior Management of the Company has given a declaration affirmed compliance with the Code. (Mauritius) INC. No. Sudhir Mehta Mr. Procedures are prescribed to ensure that such information monitoring is not misused for any personal advantage.D of Clause qo ofthe ListingAgreement. Torrent Energy Limited and Diamond Infrastructure Private Limited.2011 He is not related to any Director ofthe Company. 1 2 Name of the Company in which holdingDirectorship Torrent Power Limited Torrent Pharmaceuticals Torrent Private Limited Torrent Energy Limited Torrent Pipavav Generation Limited Diamond Infrastructure Private Limited Limited Name ofthe Committee Nomination and Remuneration Committee Committee Membership Member Chairman - Securities Transfer & Investor Grievance Committee - 3 4 5 6 Audit Committee Committee - Chairman Chairman - of Directors Prevention of Insider Trading In accordance with SEBI (Prohibition of Insider Trading) Regulations. the expanded the power business of Torrent Group by acquiring significant stakes in Torrent Power Limited and one amongst the giants from U. He is instrumental Flagship Company of the Torrent Power AEC Limited. Investors may write to the Company's Secretarial Departmentfor a copy ofthese Codes. the Board has adopted the following codes: • Arvind Code for Prevention of Insider Trading .Underthis code. Name of the Company in which holding Directorship Arvind Retail Limited Arvind Lifestyle Brands Limited Amol Dicalite Limited Torrent Pharmaceuticals Limited Name ofthe Committee - Committee Membership - 3 4 5 6 7 8 9 10 11 12 Arvind Brands& Retail Limited Arvind Worldwide Arvind Worldwide INC.K. Adequate disclosure of such information and Chief Financial Officer has been appointed Stock Exchanges. Press. Sr. Torrent Pipavav Group. Sudhir Mehta is a Science graduate from Gujarat University. Torrent Private Limited. 1 2 LIMITED ANNUAL REPORT 2010 . which is likely to have a bearing on share price of the Company. Germany. The said Code of Conduct has been posted on the website of the Company.

12:30 p. ROC. Nr.and strictures imposed on the Company byStock Exchange orSEBI orotherauthorityon requirements and adoption ofthe non-mandatory relating to strengthening matter related to capital markets. The Company secretary ofthe Company has been appointed as the Compliance Officerforthis purpose. clearly setting paid to non-executive and securing the disclosure relating to the compensation procedure for legal compliance and periodical review by the Board.00a.m. directors improving the by the Company. Ahmedabad-jsoooe Desai Hall. Nr.2011 Nil Nil Nil Nil NA Nil Nil /1 nterest Warrants 8 Nil of Demat Credit of Debentures Redemption of Letter of Offer. Allotment Payment Advice. with its promoters. No. The Company has not adopted the non-mandatory requirements. 22 in "Notes forming part ofthe Accounts" annexed to the financial statements forthe year. their subsidiaries or relatives etc. Ellisbridge. 2010 to 31st March. that may have potential conflicts with the interest ofthe Company at large: Transactions with related parties are disclosed in detail in Note No. There were no related party transactions (ii) (iii) Details of non-compliance having potential conflict with the interest ofthe Company at large. Ellisbridge. Shareholders' Information 1. Investors' Grievances: The Registrars and Transfer Agents underthe supervision ofthe Secretarial Department ofthe Company look after investors' grievances. 11. Mr.Law Garden. for Rights Nil NA Issue & Others Others .e. investors including their grievances and redressal are reported. 2011: Sr. including related party transactions. Share Transfer Details forthe period from rst April. Nr. transactions ofthe Company of material nature. Company 33 33 3. 2009 31StJuly. settingthe calling upon Company Board to adopt formal code of conduct. At each Meeting ofthe Investors' Grievance Committee. 5.Disclosures (i) Disclosures on materially significant related party transactions i. directors or the management. Venue Thakorebhai Thakorebhai Thakorebhai Desai Hall. 2010 to 31st March.3. 2010 2sth September.Law Garden. of Pending Share Transfers 4. Ellisbridge. 2011: Transactions Number of Transfers Average Number of Transfers per month N umber of Shares Transferred Average Numberof shares Transferred per month Physical S07 42 49369 4114 NIL Demat 16S4 138 14410888 1200907 NIL Total 2161 180 144602S7 120S021 NIL No. 2008 The last 3 Annual General Meetings of the Company were held as under: Time 10-30a. Nitin Joshi Senior Executive Sharepro Services (India) Private Limited Registrars & Transfer Agents 2. and improving compensation. Information on General Body Meetings: (i) Date 2sth September. Stock Exchanges.m. Particulars of Complaints I Queries 1 2 3 4 S 6 Non-receipt Non-receipt Confirmation Non-receipt Non-receipt of Share Certificates of Dividend Received 6 Redressed 6 8 Nil Nil NA Pending as on 31. NSDL. Ahmedabad-jsoooe .Law Garden. Share Certificates etc. any Nil. Bhimani Company Secretary Arvind Limited Mr. Nitin all matters pertainingto Joshi of Sharepro Services (India) Private Limited is responsible for redressal of Investors' Grievances. requirements of Clause 49: of Audit Committee. Ahmedabad-jsoooe Desai Hall. Name and Designation of Compliance Officer: Ramnik V. during lastthreeyears: Details of compliance with mandatory quality offinancial The Company has complied with the mandatory out the position of nominee directors approval of shareholders forthis requirements the responsibilities disclosures.m. Total 47 47 received from SEBI.Complaints Law Board etc. penalties. Details of Complaints I Queries received and redressed during rst April.

Directors including Nominee Directors ofthe Company fora period of syears from ist April. 2011 10:30a. Lalbhai as Chairman and Managing Director ofthe Companyfora further period ofth ree years from ist Jan uary. 200B to 30th September. Financial Calendar: The Financial Yearofthe First quarter results Second quarter results Third quarter results Fourth quarter results/Year end results Company is fora period Of12 months from 1StApril to 31st March. Payment of commission to Non-Executive to 31st March. Annual General Meeting: Date Time Venue 30th September. No. Presentations released to the press at the time of declaration of results is also sentto all Stock Exchanges where the shares ofthe Company are which investors usually seek.Law Garden. the zqth September. (iii) No resolutions were passed through Postal Ballot during the previous year. Information listed forthe iii. Moreover.m. 19S6. Ahrnedabad-jso Phiroze JeejeebhoyTower. 1 2 Name ofthe Stock Exchange Ahmedabad Stock Exchange Limited (Regional Stock Exchange) Bombay Stock Exchange Limited Code os090 SOO101 Address Kamdhenu Complex. Near Law Garden. Means of communication The Quarterly Time 10:00AM Venue Thakorebhai Desai Hall. Shah as Whole-time Director with the designation of Director and Chief Financial Officer ofthe Company for a further period ofthreeyears 2. Sr. Sanjay S. Dalal Street Mumbai -400 001 01S . 2011 By end of January.arvind. 7. the Company's web-site hosts a special page giving information made to institutional investors/analysts are posted on the Company's web-site at www. Thakorebhai Desai Hall. 2007-08 1.ARVIND (ii) 2009-10 1. of Mr. 2011 By end of October. 2012 9. Jayesh K.arvind. 2011. 2010 2008-09 1. Ellisbridge. of Partial Utilisation of Securities Premium Account not exceeding ~ 60 crores to set off certain one time expenses subject to confirmation the Honourable High Court of Gujarat. LIMITED ANNUAL REPORT 2010 . Dividend payment Date: Not Applicable as the Board has not recommended any dividend on equity shares forthe financial year. : : : : By end of July. Opp. ii. Ahmedabad-gsoooe Results are published in the Financial Express . Appointment of Mr. Book Closure: Saturday. One Extra Ordinary General Meetings was held as under: Date izth May. benefit of investors. Kulin Lalbhai in the office or place of profit in the Company under Section 314 ofthe Companies Act. N r.com. 2.2011 Special Resolutions passed at the last 3 Annual General Meetings: Re-appointment of and payment of remuneration to Mr. 2009 6. Approval of terms of re-appointment of Mr. Ahmedabad . Details of Extra Ordinary General Meetings: During last jyears. 11. Sahajanand College. 2012 Second Week of May. 2012. Punit Lalbhai in the office or place of profit in the Company under Section 314 ofthe Companies Act.com. 10. Panjarapole. 2.3Bo 006 8. 2011 (Both days inclusive). 2011to Friday. 30th September. 19S6. 2010 to 31st December. Ellisbridge. Appointment from ist October.Alii ndia Editions and Financial Express Gujarati Edition of Ahmedabad and are also posted on the Company's website at www.201S. Listing on Stock Exchanges: Shares ofthe Company are listed on the following Stock Exchanges.

Sanjay S. Shrenik K. Bandra . G.70 37.90 74·So 64. Bandra (E) Mumbai -400 OSl L-2227 Luxembourg of India ARVIND 4 11. Physical transfers are affected within the statutory the Compliance Officer.96 189S4·82 19074·S7 18038-48 1729S·62 17792. Shareholding Pattern as on 31st March.ahmedabad@shareproservices.17 (~) 37.og 33·S1 2-49 Major Bodies Corporate and Trusts: Aura Securities Private Limited AML Employees' Welfare Trust . 1969) Individuals: Mr.C/l.OS S22S·60 S348·90 S403·oS S937-1O S690-3S S721.80 lS96O.99 18027-12 19768. to certain officers ofthe Company who attend to them at least period of one month.6S Sl77-7° S348.60 47-2S 62.80 36·so 44.: 079-26S8238S E-mail: sharepro. of Shares 21716304 106S9996 19368320 161OS962 69306310 36872411 12S472676 S1184706 6088S132 S0188248 23902207 31926903 Sep-io OCt-l0 NOV-lO Dec-lO Jan-11 Feb-11 Mar-11 73-8S 74·8S 64. the Board has delegated sharetransferformalities 3 times in a month.80 69·90 13. 3 Name ofthe Stock Exchange National Limited The Luxembourg Stock Exchange (ListingofGDRs) Stock Exchange Code Address Exchange Plaza.20 36.08 0. No.com 14. Lalbhai Mr.60 68. Registrars and Transfer Agents: Sharepro Services (India) Private Limited 416-420.1S 16318-39 1739S·S8 17819.oS S7-80 SuS Sl·S0 Volumes No.62 18237·S6 1847S·22 20267-98 2084S·SS 21108. Ellisbridge. 12. No. Delegation of Share Transfer Formalities: Since the Company's shares are compulsorily form. 2011: Sr.03 20664. Plot No.20 30. Low during each month in last financial year and Performance in comparison to broad-based indices such as BSE (Sensex) and NSE (Nifty): Month Apr-to MaY-lo Jun-l0 Jul-lO Aug-l0 Share price BSE High Low BSESensex High Low 18047-86 17S36.: 079-26S82381 to 84 Fax No.4th Floor.80 18690. Ahmedabad -380 006 Contact Persons: Mr.OO S160·90 4786-4S 4961.Kurla Complex. bulk ofthe transfers take place in the electronic 15.0S SS99·2S S872. The Board has designated the Company Secretary as traded in the demat segment on stock exchanges.2S Volumes No.20 36. Market Price Data: The data on price of equity shares ofthe Company are as under: High. Category Holding of Promoter Group ('Group' as per MRTP Act.70 (~) 32·9S 30. of shares held Percentage of Shareholding 1 30001S2 2136S4 1414 107668 8S238882 6327624 1. of Shares ls06S368 6071400 11929431 10047147 40697379 22977637 71780088 26978313 3213SSS4 2S6S9164 138oS431 1717160S Share price NSE High Low NSE(NIFTY) High Low S399·6S S278·70 S366·7S S477-So SS49·80 6073·S0 6284. Lalbhai Relatives of above Individuals* 2 No. Sanyas Ashram. For expediting physical transfers.60 73.Avenue de la Porte-Neuve The Company has paid Annual Listing Fees fortheyear 2011-12to the above Stock Exchanges.64 20SS2.Sr.1S S416.2O (~) 37. Samveg A. Lal bhai Mr. Devnandan Mall.86 17919.00 33-30 34·2S 41.70 37.00 44-3S 48.10 6338·so 6147-30 6181.00 o.1S 33-7S 34-3S 41.18 0.97 19S7S·16 17276. sth Floor.80 36-4S 44·6S 47-20 62·S0 68.90 30.10 30.80 69·7S (~) 32.0S 44-30 48-3S 46. Opp. Block.20 46-30 S3-2O Suo S1. Nitin Joshi Phone Nos.

20 8. 2011: No. Foreign Institutional GDR Private Corporate Indian Public Bodies Insurance Companies Investors. Each GDR represents one underlying equity share. Foreign Banks 110756582 17635964 20842549 20465904 578092 13119508 71001442 43·54 6·93 8.78.092 GDRs (previous year 6. of Holders 172137 11989 5027 1546 637 716 784 804 193640 % 88.04 0. NRlsjOCBs.19 2.06 1·58 0·90 1-34 2-33 77-46 100. of Holders 1-500 501-1000 1001-2000 2001-3000 3001-4000 4001-5000 5001-10000 Above 10001 TOTAL 133617 11568 4907 1520 622 703 781 798 154516 PHYSICAL MODE No.00 TOTAL No.05 0.73.192) are outstanding.60 0. 2011 under the SEBI (Substantial Acquisition of Shares • Distribution of shareholding as on 31st March. of Shares 24014638 9880300 7787862 4014396 2289006 3411311 5934652 197067876 254400041 % 9-44 3.00 0. of shares held 175000 1792158 424199 1126200 400000 996815 4127471 0 0 130995 94250 100 0 0 6600000 0 Percentage of ShareholdinJ!.00 0.70 0.15 27-90 Total Non-Promoter holding GRAND TOTAL and Takeovers) Regulations. 0.07 0.16 0-39 1. . LIMITED Category Agrimore Limited ANNUAL REPORT 2010 . 98.5. No. National Securities Depository to be delivered in the dematform Limited (NSDL) and Central on Stock Exchanges by all by investors and bulk of Services (India) Limited (CDSL).00 2·59 0.88 3.17 0-44 0. Dematerialisation of Shares and Liquidity: The Company's shares are availablefordematerialisation Depository on both the Depositories viz.56% of the issued capital have been dematerialised Demat ISIN Number: Equity Shares fully paid INE034AolO11 17. 143643459 254400041 56·46 100. of Shares 2909160 292868 160849 64951 52854 58100 21889 96516 3657190 16. 2011.2011 No. of Shares 21105478 9587432 7627013 3949445 2236152 3353211 5912763 196971357 250742851 No. 3 4 5 6 7 8 Mutual Fundsand UTI Banks.23 5. Financial Institutions.00 0.00 Amazon Investments Private Limited Acropolis Investments Limited Aeon Investments Private Limited Anshuman Holdings Private Limited An ubhav Investments Private Li mited Atul Limited Anukullnvestments Private Limited Limited Ameer Trading Corporation Adore Investments Private Limited Amardeep Holdings Private Limited Sanjay Family Trust Lalbhai Realty Finance Private Limited Anagram Knowledge Academy Limited Swetratna Trading& Investment Private Limited Shruti Trade Link Private Limited Total Promoter Group Holding Non-Promoter HoldinJ!.05 0. Outstanding GDRs/ADRs/Warrants or any convertible instruments and conversion date and likely impact on Equity: As on 31st March.00 * The names of'Relatives of above Individuals' are as per disclosures made as on 31st March.62 0.00 0. 1997. of shares ELECTRONIC MODE No.89 6. As on 31st March.80 0-33 0-37 0-40 0-42 100.00 No. Shares ofthe Company are compulsorily investors. of Holders 38520 421 120 26 15 13 3 6 39124 TOTAL No. 2011. 250742851 shares representing transfers take place in the demat form.ARVIND Sr.

380006 Contact Persons: Mr. (5) The Company did not declare any dividends on equity shares for thefmancialyears 20. Jeans. Ah medabad .: 079-26582385 e-mail: sharepro. Sanyas Ash ram. Mahadevapura Post. Gujarat. For and on behalf ofthe Board Place: Ahmedabad Date: zoth May.com Web-site address: www.4th Floor. 1956 are requested to submit the prescribed Secretarial Department ofthe Company fora copy ofthe Form.com Sharepro Services (India) Private Limited Registrars and Transfer Agents 416-420. 2006-07to 2009-10. Ah medabad .Shirting. Lifestyle Fabrics .Gujarat.18.380 025. 1956. Santej. Gujarat. Naroda Road. Ahmedabad . Khakis & Knitwear. Puttappa Industrial Estate. Dist.380 025. 26/2. GandhinagarLifestyle ApparelLifestyle ApparelLifestyle ApparelKnits. Nomination Facility: Shareholders holdingshares in physical form and desirous of making a nomination in respect oftheir shareholding in the Company. dividends on equity shares forthe 98 remaining unclaimed for 7 years from their due dates have been transferred Fund (I EPF) established by the Central Government IEPF. Phone Nos: 079-30138000/30138109 Fax No. Nitin Joshi Phone Nos. 27/2 Kenchenahaili. Due for transfer to IEPF* roth October.Denim. Near Bangalore University. Plant Locations: • • • • • Lifestyle Fabrics . Bangalore . ROC Bhavan. are required to be financial years 1994-95 to 1997are requested to to by the Company to the Investor Education and Protection pursuant to Section 20SC of the Companies Act. 2005 30th September.: 079-26S8238HO Fax No.arvind. 1956. Mysore Road.: 079-30138668 e-mail: investor@arvind. Gandhinagar . Such members may write to the Company's Registrars and Transfer Agents. Ellisbridge. Unclaimed Dividend: (1) Pursuant to Section 20SA of the Companies transferred relatingto to the General Revenue Account Act. Taluka Kalol. 059. 2012 nth October. 2011and the same was approved.382 721. Dist. Investors maywritetothe Ankur Bus Stand. Shareholders anyfinancial year upto 1993-94 are requested to claim the amounts from the Registrar of Companies.com 84 with the Company atthe Registered Office ofthe Company or atthe office of Registrars and Transfer Agents ofthe The above Report has been placed before the Board at its meeting held on zoth May. 2011 SANJAY S. (2) Pursuant to the provisions of Section 20SA(S) ofthe Companies Act. Shareholders note that no claim shall lie against the said Fund or the Company in respect of any amount of unclaimed or unpaid dividend transferred years remaining unclaimed for 7 years from the dates of declaration by the Company to IEPFand the various dates for transfer of such amounts are as under: Financial Year 2004-05 2005-06 Date of Declaration 29th September. PO Khatrej. LALBHAI Chairman & Managing Director . 2013 * Actual dates oftransferto (4) Members who have so far not enchased their dividend warrants in the respect ofthe above years are requested to claim their dividend from the Company. vvhitefteld Road.Gujarat. Santej.ahmedabad@shareproservices. Shareholders 21.SS. 2006 IEPF may vary. Opp. (3) The Company did not declare any dividends on equity shares for thefinancial The dividends on equity shares for the following transferred years 1998-99 to 2003-04. Taluka Kalol. Devnandan Mall. 382 721. Form 2B forthis purpose. unclaimed dividends upto and including the financial years 1993-94 have been who have not encashed their dividend warrants Secretarial Department ofthe Company of the Central Government. Address for Correspondence: Shareholders may correspond Company: Arvind Limited Secretarial Department Naroda Road. 1956.Ahmedabad orthe Registrars and Transfer Agents for a copy ofthe form. Shirts. Sharepro Services (India) Private Limited for payment of unclaimed dividend amount. PO Khatrej. as permitted may write to the under Section l09A ofthe Companies Act. Naranpura. Near 380 013 in the prescribed form.560048. Bangalore-s60 19.

Lalbhai. to the best of our knowledge and belief. therein. Anklesaria Partner Membership NO.2011. year ended on 31st March. 2011 Financial Year ended 31st March. Our examination was limited to a review of the procedures and implementation thereof. Sanjay S. 2. Firm Registration No. 110417W Chartered Accou ntants CA. Sanjay S. Engineer & Co. Re : Financial Statements for the year 2010-11 - Certification by CEO and CFO We. no transactions fraudulent. 2011 CEO/CFO Certification The Board of Directors Arvind Limited Ahmedabad.2011 Compliance of conditions of Corporate Governance To the Members Ahmedabad of Arvind Limited We have examined the compliance of conditions of Corporate Governance by ARVIND LIMITED. 34. illegal orviolative ofthe Company's Code of Conduct. with existing accounting standards. hereby certify that: 1. 2011 Jayesh K. adopted by the Company for ensuring the compliance of the conditions of the Corporate Governance. or effectiveness with which the For Sorab S. I confirm that the Company has in respectofthe Personnel a declaration Ahmedabad zoth May. there have been no significant changes in accounting policies duringthis year. forthe Clause 49 ofthe Listing Agreement ofthe said Company with Stock Exchanges.as stipulated in The compliance of conditions of Corporate Governance is the responsibility of the management. We state that such compliance is neither an assurance as to the future viability of the Company nor the efficiency management has conducted the affairs ofthe Company. in the design or operation ofthe internal control systems and that we have taken the required steps to rectify these deficiencies. These statements do not contain any materially untrue statements oromit any material fact or contains statements that might be misleading. Lalbhai Chairman & Managing Director Ahmedabad. on the basis of reviewofthefinancial statements and the cash flow statementforthefinancial year ending 31StMarch. Sanjay S. It is neither an audit nor an expression of opinion on the financial statements ofthe Company. There are. zoth May.ARVIND LIMITED ANNUAL REPORT 2010 . Chairman &Managi ng Directorand Jayesh K. received from the Members ofthe Board and Senior Management of compliance with the Code of Conduct as applicable to them. entered into by the Company during the year ended 31st March. 2011andtothe best of our knowledge and belief. 2011. of management or an 5. N. Shah Director&CFO DECLARATION REGARDING COMPLIANCE BY BOARD MEMBERS AND SENIOR MANAGEMENT PERSONNEL WITH THE CODE OF CONDUCT FOR DIRECTORS AND SENIOR MANAGEMENT PERSONNEL This isto confirm that the Company has adopted Code of Conduct for Directors and Senior Management Personnel which isavailable on the Company's website. We further certify that: (a) (b) (c) there have been no significant changes in internal control during this year. Director &Chief Financial Officerof Arvind Limited. there have been no instances of significant fraud of which we have become aware and the involvement employee having significant role in the Company's internal control systems. Lalbhai Chairman & Managing Director ~ .Shah. In our opinion and to the best of our information and according to the explanations given to us and the representations made by the Directors and the management. 2011which are We accept responsibility for establishing and maintaining internal controls. of which weare aware. These statements together present a true and fair view of the Company's affairs and are in compliance applicable laws and regulations. we certify that the Company has complied with the conditions of Corporate Governance as sti pulated in the above mentioned ListingAgreement. we have evaluated the effectiveness ofthe internal control systems of the Company and we have disclosed tothe auditors and the Audit Committee those deficiencies. D.10250 Ahmedabad zoth May.

Thereafter. The following thereto. there were 1896 Cotton/Man-made (non-SSI) in the country with an installed capacity spindles S. growth of 8. As per quick estimated is estimated data at 8.S per cent and reached $164. as also industry. fell to and other similar expressions as they relate to the undertakes no obligation whether to publicly update as a result of new materially from $288A billion with a negative growth of -S. metre) 2009-10 2010-11 (P) April-Oct Cotton Blended 100% Non Cotton Total 1434 1526 1656 1746 1781 1796 1961 1130 969 253 212 1072 243 211 1192 252 212 1305 330 111 1249 422 110 1259 426 111 1419 475 67 808 272 49 The growth of Indian economy has been very fast following the slowdown due to global financial crisis in 2007-09. In last three years the Indian economy two shocks in rapid succession-the in 2007-09 This period and erratic of economic monsoon stress had been severely buffeted onset of global financial resulting severely in drought tested the by Cotton and Cotton Yarn The prices of cotton and yarn have increased in the country during the crisis current year 2010-11 as compared to previous years by almost 100%. growth decelerated till October 2010 and picked up subsequently to reach in last 36A per cent in December 2010. Food items largely drove inflation. also affected by the global recession. information. Fibre Textile Mills of 38. that involve risks and uncertainties. are cautioned statements statements. or otherwise. rose in the second half of 2009-10. policymakers." two years.6 per cent in services. OVERVIEW OF THE ECONOMY discussion and analysis should be read in conjunction The US$ 70 billion Indian textile industry to industrial Product production.0 released on 31St January 2011. events. The lower level of surpluses on the invisible balance. On the demand side. performances could differ Indian Textile statements. Even as the Indian economy recovered rapidly from the slowdown caused by the global financial crisis. "believe. Trade deficit (on customs basis) increased by 2A per cent to $82 billion in 2010-11 (April-December). medium to long-run remained a cause for concern. The Textile Industry is the second largest provider of employment after agriculture.7 per cent in 2010-11. the financial situation MILL SECTOR Item 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 with a pick-up in credit growth.7 billion during the period.2010. which is the highest growth ." "estimate. the relatively higher import growth compared to export growth in first half of 2010-11 raised concerns of unsustainable current account deficit levels. Despite tightening growth of the money markets and remained orderly moderate in deposits. contributes country's about 14 per cent Gross Domestic export earnings. Industry year after the previous Company or its business are intended to identify such forward-looking The Company future or revise any forward-looking or achievements. a rise in savings and investment." this discussion.1 per cent in industry.18. with the Company's Financial Statements included herein and the notes 4 per cent to the country's (GDP) and 17 per cent to the according to the Annual Report 2009-10 of the Ministry of Textiles. however. continues to remain positive. inflationary trends and volatility in commodity prices led to strong demand side pressures. India's exports fell rapidly 2008- (upto January. The including the industrial resulted in prices at sector. industry the nation. The average prices of cotton are: Average price of selected variety of Lint Cotton (~/Qu intal) Cotton variety J34 H-4/Mech-1 S-6/S-4 DCH-32 LRA-S166 2008-09 2009-10 2010-11 in 2009-10. 2010-11 was a commendable those expressed or implied in these forward-looking as these are relevant at a particular not to place undue reliance on these forward-looking point of time & adequate decision making orformation challenging year for the Indian textiles industry. by following counter-cyclical macro-economic policies. structural measuresto foundation In tandem following promote to protect with growth and social spendingto provide astronger the poor. and a decelerated growth of 9.9. The cumulative export growth in April-December 2010-11 was 29. Production of Cloth in Mill Sector (in million sq." When used in "intend. the words "anticipate.O per cent in 2009-10. Yet the Indian economy came through with resilience and strength. prospect The deceleration of the economy. II) world 6126 6100 6307 863S S99S 7S99 7806 7990 11740 7S18 11206 11698 12014 lS023 11411 the deepening of the global financial crisis through 09. the growth and all round development of this of has a direct bearing on the improvement of the economy percent as compare to 8. which remained at elevated levels for greater part of the year.6 percent in 2010-11 as per advance estimated data of Central Statistic Office (CSO) released on 7th February 2011. the turnaround momentum was strong. risks and opportunities Actual results. however.Management Discussion &Analysis DISCLAIMER Readers are cautioned that this discussion and analysis contains forwardlooking statements "will. Readers The last year i." and "expected" statements. The exports. with a rebound in agriculture and continued social and in manufacturing. trade volumes. which continued through 2010-11 until June 2010. As on 30.e. India's merchandise imports. restrain should be applied in their useforany of an opinion.000 rotors and S7.S3 million personal services. growth of 2009-10 Thus. factor cost (real GDP) in 2010-11 was composed of: growth of SA per cent in agriculture.000 looms. in community. vibrant equity market and stable foreign exchange market. and pick-up in private consumption The estimated level of growth in the GDP at constant zooa-og strong growth of GDP at constant market prices at 9.

Manpower compared years. company is able to pass through the increase in the prices of Cotton and where men's apparel (around 40%) is much larger category than women's (around 30%).12 240.725. Further economies of scale and blending of various types of yarns helped in achieving the same. Accordingtothe of adequate information.2012. Raw Materials The raw material cost in absolute terms has increased by around 19% individuals and the rapid construction are key factors of organized retail infrastructure With the expanding middle in India's behind the forecast growth.72 1. and upper class consumer base. Further. Men's apparel will likely continue to account 40% to 50% of the apparel market in 2015. company is able to keep its raw-material to sales ratio intact because of its improved buying efficiency and correctly timing the market. RESUL T REVIEW The Financial year 2010-11 proved to be a superioryearfor in cotton Operating your company. and Taxes (Operating EBITDA).007-45 There will be an overall subsidy cap of ~ 1.12 billion by zorg. of ~ 46. parameters and implementation Other expenses Total Expenditure EBITDA Depreciation Interest and Finance Cost PAT 85% 2.6% in 2010-11 (April to December) % Change Fund Scheme (TUFS) Net Sales & Operating Income Amount %ofSales Amount %ofSales 2. Technology The Upgradation has yarn has shown as compared of 12. Sales and Operating under Revenue of the Company Company's growth review increased income Denim and shirting by 17% compared by 16%.90 731-43 321. people use brands as a proxy for all these. Company's PAT has shown a substantial rise by 156% compared to the previous year.2011 to lays down the mechanism for Fund Scheme for the period Resolution 31. business shown a 28% compared to to previous year. In addition Yarn to its customers.80 46% 10% 29% 17% 4% 7% 5% Income 2. India is the only market in the world compared to the previous year. Other income in largelyis because of sale of land. Sales and operating Fabric revenue from to the Business Monitor expansion. Fabric revenue grew by whopping by 42% on the closure of one of the knits garmenting previous year whereas revenues from the apparel business went down facility as well as decrease in jeans volume. which were to this because of robust demand. 21%for processing.2011 The standalonefinancials ofthe company isas under: (~in Crores) Year ended 31 march 2011 2010 to 2951akh bales in 2009-10 and is estimated of cotton to 329 lakh bales in 2010-11.80 155-47 52.16 194-59 134.280. this cost in proportion . 8% for garmenting Indian Retail Market Total retail sales in India will grow from U5$ 785. brands serve as a proxy for the latest fashion as well as the right quality. 13% Revenue. in the absence quality control and trust in retailers. which is expected to leverage an investment for weaving. Accordingto the report by Mckinsey.the flagship scheme of Ministry upgradation oftechnology of Textiles Technology Upgradation has issued the Government Resolution Other income Total Income Material Cost Manpower Cost jute sectors. it is expected that because of new capacity addition. population U5$ 395. But the raw material cost.22 34.93 2.972 crores from the date ofthis Resolution to 31. Recently.51 2. Strong underlying the increasing and 32% for others. The demand for denim and shirting fabrics is robust inspite of increase prices by almost 100% during the year. is higher by 14% in absolute value.73 1. cost.89 11. Company Earnings before Interest Depreciation the financial year 2010-11 with 15% growth in sales and 38% growth Man Power Cost The salaries and wages figurefortheyear However.acccrding (BMI) India Retail Reportforthe economic growth. in women's wear.972 crores during the period.03.900 crores. as a percentage to sales. The Government financial and operational the Restructured TUF5.035. At current rate of adoption. Direct Materials The direct materials largely include of rupee duringthe Dyes & Chemicals year. In this scenario of rising price. no-ethnic apparel for women is likely to comprise less than 10% ofthe market in 2015.00 45% 10% 32% 87% 14% 5% 7% 2% 16% 192% 17% 19% 14% 6% 14% 39% 2% 25% 159% Government restructured in thetextileand the Technology Upgradation of Textiles for Fund Scheme (TUF5) .03. there will also be opportunities 5 per cent of the total market tier II and III cities. ethnic apparel (5alwar Kameez and the 5aree) constitute around 90% ofthetotal spending.328. has closed in marginally lowerthan mix and appreciation last year at ~ 193crores dueto change in the product Power cost this year has gone up by 17% in absolute value owing to the increased continuous overall volume of the company as well as there has been a rise in prices of Gas.691. of 26% and 23% respectively also increased in terms of sales and 6% and 12% in second-quarter terms of volume. was constant at 10% to sales will reduce in the coming to previous year. Ministry on Restructured 28.ARVIND The production season 2008-09 an increase LIMITED of raw cotton has increased from 290 lakh bales in to grow to Particulars ANNUAL REPORT 2010 .83 2. Organized retail in India is expected to increase from in 2008 to 14-18 per cent and reach U5$ 450 billion by 2015.90 772. with sectoral investment shares of 26% for spinning.04.18 445·55 116. report. The production 2009-10 (April-December).233-35 273.96 billion in 2011 to International wealth of Ob011.316. as a percentage to sales. Also.27 113.2012 (both the days inclusive) with an overall subsidy cap of ~ 1. In apparel. was higher by marginally 1% during the year. according to a McKinsey & Company report titled 'The Great Indian Bazaar: Organised Retail Comes of Age in India'.

But. but interest cost as a percentage to sales remains constant at 7%. for all making purposes. In this segment Several Brands & Retailers are planning to shift their away from China & looking for stable & reliable vendor source. Weavi ng. as a percentage to sales reduced from 32% to 29% during the current year largely because of economies of scale. There has been a continuous effort to de-risk business. Hence.24 to 2-33 in the launched extensive range of women's wear fabric. Since more than 50% of your Company's revenue is dollar denominated. of average age at 37 years.812Croresagainst~ 1. 24%. turnover ratio has improved from 2. rate & absenteeism. because ofthe improved to better negotiate with bankers. there was a dramatic improvement in generation HRand IR Initiatives Innovative HR and IR (Industry Relations) strategies resulted in reduction of attrition bringing-in automobile.Other Costs The other costs have gone up by 6% in absolute terms. like giving challenging leadership roles to youth from within the organization. like TPM (Total Predictive which keptthe interest rate upward trending. First being the requirement throughouttheyear. To meet the new demand. emerged Retailing the shirting fabrics under the brand name of "Arvind" for Shirtingfabric business continues to remain positive. company was able Due to a major focus on Quality Control and Process Control in quality and a substantial of waste. Denim business has done well again in the year 2010-11. The total volume for Denim registered growth . Company's current year. whereas the volume in domestic market grew by 10%. best practices from other industries standard requires restatement working capital borrowings of all assets and liabilities at the exchange dollar denominated every quarter and all profit or rate prevailing at the end of the quarter. Revenue. company is targeting to increase the per month 0 60 50 40 3 0 50 Profit Before Tax (PBT) and exceptional items Net Profit before tax was ~ 135 Crores compared previous year. The foreign of FX rate changes for the year were ~ 5 were increased. on results and increased in rating of the company in 2009-10 compared to previous years. These have helped improve quotient as well as margins. other cost. The major variable attributingto the rise in the operating margin was reduction in other cost. Shirting Fabrics Shirting fabric in terms of volume grew by 27% com pared to last year and by 23% in terms of sales. It posted improvements in Unit sales. it hedges its position decision in the foreign the dollar exchange market. capacity to 4. Company has Improvedfocus debottlenecking International in higher contributing capacities Market of Brands and Retail through small length orders.871Crores last year. India is natural choice as next destination for sourcing due to Cotton advantage. thrust launched on innovation. efficiency and maintaining margin across the product lines. Depreciation Depreciation as a percentage to sales decreased from 5% in the previous yearto 4% in the current year. The significant increase is attributable to ~ 52 Crores in the 20 10 volume. Company sourcing to produce Working Capital & Liquidity The net current asset during the year has gone up 12% in absolute terms. In absolute terms. rate is frozen. . 90 85 like Levi's. market.5 mn metre from the third quarter ofthe next year. New high-end customers like Hugo Boss and G. Wrangler. EBIDTA of 6% backed successfully and has opened more than 1000 retail outlets. are reinstated loss booked in the financial statements. The outlook Garment Operations Shirts Sales in value terms grew by 19% whereas Jeans garments reduced by1S% where in volume terms there is reduction sales of 16% and and ROCE. Operational Improvements the design crores compared to profit of~ 22 crores in the previous year. company's EBITDA margin increased from 14% in the previous year to 17 % in the current year. Dyeing and Finishing . Company called 100 95 Operating Margins (Profit) During the year under review. Lee.all areas of operations On the back of initiatives Improvement and Continuous the uptime were run on of machines reduction better efficiencies. by growth in Exports volume by 5% and that in Domestic market by 6%. Maintenance) improved. But. But. Net Profit (PAT) Profit aftertax stood at ~ 135Crores in the current financial year compared to ~ 52 Crores in the previous year. US market continues mainly to increased to contribute in shirting export business and having YoY growth of more than 50% in the current financial year. 80 2009-10 2010-11 Net Interest & Finance Cost The net interest and finance cost for the current financial year is ~ 195 crores as against ~ 156 crores forthe exchange gains on account previous financial year. There is a Continuing exclusive products _ Denim Volume (mm metres) 'Excel Denim' during the year. market-share with markets In the Indian Brands Pepe etc. Company had done total capital expenditure of~ 181Crores. There is a 44% growth in sales in Brands Fabric Retail business. There are two major reasons resulting in increase in the cost.Star were acquired and market share was increased in new important like Hong Kong/Japan. Therefore. The accounting Deni m busi ness was able to sweat its assets better than last year. Spinning. the rise was 25%. The exports in volume grew by almost _ ShirtingVolume (mm metres) Debt The debt ofthe Company was ~ 1. BUSINESS REVIEW & DEVELOPMENTS Denim After an excellent 2009-10. of higher working capital because of policy increase in raw material cost and second being the tight monetary the other side.maintenance talent and thereby Infrastructure etc.

Company has closed one of its Knits garmenting its conscious decision of the management profitability and return on capital employed. Currently Mega-Mart is operating with a retail space of 6. help company in improving the capital structure 51%and 39% respectively. The recent and Tata Housing under 50:50 JV for developing shareholder. Bugati. The Company had taken forward cover on net dollar exposure and the average exchange rate forthe ~ 48. Improvement throughout Technology Arvind Lifestyle Brands Limited modernization will further viewingthe Company in production across product lines has been seen of the financial Upgradation year 2010-11 and with Fund Scheme (TUFS). ANNUAL REPORT 2010 . Arvind Retail Limited The retail business had another goodyear with sales of~397crores a growth of 40% compared to last financial year.2011 43% respectively. Diesel. The major Exchange Rate The Rupee which had appreciated volatile and generally it appreciated depreciated for the plant and to improve to 43. . compared to 4. However.ARVIND LIMITED Arvind Products Arvind Products operating & Bottom to 44. In addition.10 on a rather narrow range. PAT ofthe company has grown by had sold some parcel of land during the current of partnering financial return on capital employed is 14. weight of its plant so that we can handle all Non yarn dyed fabrics (top weight fabrics. Knits garments fell by 51% by volume and 46% in terms of value. Company made certain changes in the one weight fabrics) in this plant. US Polo and IZOD the two fast and received successfully brands launched last year has shown a tremendously launched and positioned yet another brand "Engerie". Edie Bauer. Cortefrel.97 by October customers in Exports market are Banana Republic.05 on a broader range & between 44-35 & 45. last year with zoa srnallforrnat and 6 large format stores.00to a US dollar. C&A. the introduction capacity additions/ will help support this surge in the demand. the Company introduction ofTUFS and unlockingvalue through sale of land and sharing ofthe product profile.74 by end of May 2010. profit out of development.5lakh sq. Arrow and Flying machine continued good year with a growth a good market feedback.5%. Polo Ralph Lauren. (APL) registered revenue growth of 30% and profit grew by 3%. ft. Since then it consolidated realization Limited Limited plant owing to to improve the productivity. margin. stcres more stable industrial textile market. Theyear201O-11 was a milestone year for Branded Apparel business which recorded sales of ~ 422 crores against a sale of ~ 253 crores in the previous financial year clockingagrowth 400% duringtheyearand of 67%.25. entire year was in range of SUBSIDIARIES Arvind Lifestyle Brands Limited & Arvind Retail Limited: Anup Engineering business listed on Ahmedabad of product diversification. ft.20 & 46.18 in early April 2010 remained to 47. this cost under control help company of keep its overall borrowing current higher interest cost. Anup Engineering Limited Limited is engaged in engineering and fabrication between 44. Later 2010. Mega-Mart posting return on capital employed and add substantial value forthe Viewing the surge in demand with increase in operating During the year. Marks & Spencer. This flexibility will help immensely productivity. The Company enjoys a unique position its leadership in terms of quality and quantity. the bridge to luxury brand shown another of more than 100%. with a major 40% of Market share within its fold. Gant. The Voiles Division ofthe Company is engaged in manufacturing in the 2X2 rubia segment and continues high quality Cotton and blended Voiles. rather than only Bottom in maximizing the bottom-line. appreciation and significant rise in cotton prices raise concerns on the profitability. OUTLOOK After being harshly battered Stock Exchange. Company's recent move in the Technical Textile/Advance Material will help it to diversify its made rapid progress in the current yearto emerge as the leading Value Retail player in the country. its upward journey by growing at year and expected to realize further development integrated township in the coming years. Land end. Ahlers etc. company plans to expand its capacity across the product line keeping in mind the diversification Company also plans to steadily invest in the two fully owned subsidiaries Arvind Lifestyle Brands Limited and Arvind Retail Limited. which shows combined growth ofmorethan product portfolio and caterthe 35%from lasttwoyears. credit profile ofthe company improved and expectedtofurtherimprove of improvement with revival in the domestic demand and signs of rupee in the global markets. lakh sq. The Company's revenue fell by 2%and EBIDTA fell by60% largely because oftime overruns and lack by recession in the global markets and currency volatility in FY2oo9.

for "Corporate Social year 2010-2011 the Trust has over 1000 students enrolled. with Government implementation Agencies and facilitates the effective that urban poor are generally overlooked opportunities that the conditions phase of operation. It has been observed the great deal of cultural paradigms do not support their respectable survival. During its initial program.the Fountain of Knowledge' in the year 2006 and since then it has touched them have achieved unprecedented At the fundamental Computer knowledge technically group for HIV/AIDS control. the Trust. Primary Asa communication services for rural communities a firm strategy for successful implementation establishes discussion with Asha workers. where students of lack of supportive infrastructure for HIV/ of the key healthcare suffer acutely because under National Aids Control change in the practices for improving Program (NACP). SHARDA is actively involved in improving Ahmedabad Municipal Schools. level. At present. SHARDA. has penetrated its operations in 14 districts with the Ahmedabad Municipal and has trained amongst widows nearly 10. In addition AIDS control brought population to this. the education at keeping. The Trust also SHARDA Trust Arvind through development economic SHARDA Trust. like India. Also. success in all their academics. costing of the products and product selection. VI and VII. However. participatory initiated access to in Khedbrahma taluka. In order to accomplish Widows needs and requirements. Fund (NLRDF) and NLRDF NLFDF is mainly responsible for rural development and works very efficiently development.000 widows in last 4 years. as the social and the Trust closely works and prodigious programs. 935 in primary and 74 in secondary sections. yield a long term return on investment. finally ensuring a job School. English and Mathematics. widows in the state of Gujarat upgradation and with rural poor for their Reliefto Distressed Areas (SHARDA) in theyear NLFDF minutely observed and deeply felt that in a country need special attention and care. has been persistently considering working for the of urban poorinthe city of Ahmedabad. many of remarkable and behaviour public SHARDA started 'Gyanda . book of urban poor are as appalling as the rural poor and SHARDA focused on Slum Upgradation Corporation needs similar attention Programmes. Medical Officers and District level Administrators. In the year 2011-2012. the Trust has also worked continuously private and public health care centers for providing medical care services people who could not afford any health services in the city. in these three fields would advanced Health Centre Staff. To meet this crying need for a better school with RCC structure. has been keeping pace with social development Lalbhai Rural Development nearly 8 decades and gave it a more structured with establishing Narottam Strategic Help Alliancefor 1995· shape in the year 1978. But SHARDA understands and strategies to overcome. education The Trust levels of in a rural school. toilets dramatically transformed worked in partnership philosophy ofthe Trust deals not only with developing different and water in Sanjay Nagar Slum. through its Entrepreneurship Development of Gujarat skills sets principals. th rough SHARDA& N LRDF ai msand aspi resto hel pthe poor and intimately feels thata business should be both Socially Responsible and should intricately understands its Social Responsibilities. which lives of people. Higher Secondary Training. The operational but also teaches them basic management worked for organisingall basic infrastructure facilities like drainage. the Trust estimates to work with about 1200 students. In CHANGE project. numbers in the driven economy. the of standard V. which mainly includes. This is a unique initiative that the company has initiated. the NLRDF helped in upgrading the infrastructure The school was short of space for teaching the growing infrastructure the NLRDF constructed resultant. (AMC) and the with works for setting up Bio-gas plants for rural families. the Trust is involved in teaching subjects like considering that a sound become a pillar of success for Labs in three municipal community usage. independent. in association of Widows Entrepreneurship available in the city. In order to form of this program the Trust women. In the . The Trust has set up State of Art Computer students for facing the demands of our Industry of their primary education. the Trust continues to support the students completion has a fixed mechanism to support students' until they are village and it was in a rented building. This has and the teaching learning resources. this service has been successfully taken to zzvillages of7 primary all the aspiring students schools for preparing even after economically institutions. target customers. the lives of 1500 students. Health Centers in Khedbrahma Taluka of Gujarat. also simultaneously forthe which help them to identity the market segment. College Education and Vocational placement.J\rVlnDI Strategy and Programmes Res po nsib iIity" 2 01 0-11 The idea of Corporate attention Limited a significant Social Responsibility (CSR) has attracted a wide Arvind since its inception in the early 1950S and eventually it has found aspects for place in the nerves and veins of every corporate. while taking them through different Arvi nd Li mited. Secondary School. which help them At present.

ARVIND

LIMITED

ANNUAL REPORT 2010 - 2011

Auditors'Report
TO THE MEMBERS OF ARVIND LIMITED 1. We have audited the attached Balance Sheet of ARVIND LIMITED ("the Company"), as at March 31,2011,the Profit and Loss Account and also the Cash Flow Statement of the Company for the year ended on that date both annexed thereto. These financial statements are the responsibility of the Company's management. Our responsibility statements 2. is to express an opinion on these financial iii) based on our audit. iv) ii) i) We have obtained forthe all the information and explanations, necessary which to the best of our knowledge and beliefwere purposes of our audit; In our opinion, proper books of account as required by law have been kept by the Company so far as appears from our examination ofthose books; The Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the booksofaccount; In our opinion, the Balance Sheet, Profit & Loss Account and Cash Flow Statement dealt with by this report comply with the applicable accounting standards referred to in sub-section (3C) of Section 211ofthe Companies Act, 1956 and Accounting Standard (AS) - 30 on 'Financial Instruments: Recognition and Measurement' and Limited revision arising out of it in other Accounting Standard, issued by the Institute of Chartered Accountants of India (ICAI) as mentioned in paragraph 4 above; v) On the basis of written representations received from the directors, as on 31st March, 2011 and taken on record by the Board of Directors, we report that none of the directors is disqualified as on 31st March, 2011 from being appointed a director vi) in terms of clause (g) of sub-section 274 ofthe Companies Act, 1956; In our opinion and to the best of our information required and - 30 on 'Financial and Limited revision issued by the has according to the explanations given to us, the said accounts give the information by the Companies Act, 1956, in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India: (a) (b) (c) In the case of the Balance Sheet, of the state of affairs ofthe Companyas at 31st March, 2011; In the case ofthe Profit and Loss Account, ofthe profit forthe year ended on that date; and In the case of Cash Flow Statement, of the cash flows forthe year ended on that date. For SORAB S. ENGINEER & CO. Firm Registration No. 110417W Chartered Accountants CA. N. D. ANKLESARIA Ahmedabad, May 20, 2011 Membership Partner No. 10250 as (1) of Section

We conducted our audit in accordance with auditing standards generally accepted in India. Those Standards require that we plan and perform whetherthe the audit to obtain reasonable assurance about financial statements are free of material misstatement.

An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluatingthe overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. 3. As required ("Order") by the Companies (Auditors' Report) Order, 2003 issued by the Central Government of India in terms of

sub-section (4A) of Section 227 of the Companies Act, 1956, we enclose in the Annexure, a statement on the matters specified in paragraphs 4 and 5 ofthe said Order.

As mentioned

in Note No. 12 of Schedule 16 in respect of early

adoption of Accounting Standard (AS) Instruments: Recognition and Measurement' arising out of it in other Institute of Chartered Accounting Accountants

Standards,

of India, the Company

measured all its Financial Assets and Liabilities at their respective Fair Val ues or at Amortised Cost. Accordi ngly, Accou nti ng Standard (AS) -13 on 'Accounting for Investments'and Accounting Standard (AS) -11 on 'The Effects of Changes in Foreign Exchange Rates' have been followed only forthose scope of AccountingStandard Investments,Secured transactions which are not within the (AS) -30. Hadthe Company followed the carrying amount of

(AS) - 11and (AS) - 13 in their entirety,

Loansand Unsecured Loans would have been

higher by ~ 2.19 Crores, ~ 2-41Crores and ~ 3.03 Crores respectively and carrying value of Hedge Reserve would have been lower by ~ 31.89 Crores respectively.

Further to our comments report that:

in the Annexure

referred to above, we

An nexu re
Re: ARVIND LIMITED

to the Auditors' Report
0i)
given to us,the Company has not made any substantial disposal of fixed assets during the year and going concern status of the Company is not affected. (a) As explained to us, the inventory has been physically verified during the year by the management. In our opinion, the frequency of verification is reasonable. In our opinion and according to the information and explanations given to us,the procedures of physical verification of inventory followed by the management are reasonable and adequate in relation to the size ofthe Company and the nature of its business. The Company is maintaining proper records of inventory. As explained to us, the discrepancies noticed on verification

Referred to in Paragraph 3 of our Report of even date,

0)

(a)

TheCompanyhasgenerallymaintained proper records showing full particulars, including quantitative details and situation of its fixed assets. As explained to us,the fixed assets have been physically verified by the management duringtheyear in accordance with a phased programme of verification, which in our opinion provides for physical verification ofall thefixed assets at reasonable intervals. We are informed that no material discrepancies were noticed on such verification. In our opinion and as per the information and explanations

(b)

(b)

(c)

(c)

between the physical stocks and the book records were not material having regard to the size ofthe Company, and the same have been properly dealt with. Oii) The Company has not granted/taken any loans secured or unsecured to/from Companies, firms or other parties covered in the register maintained under Section 301 of the Companies Act, 1956. Cons~quently, requirement of clauses Oii, b), Oii,c), (iii, d), (iii, e), Oii,f) and Oll,g) of paragraph 40fthe order are not applicable. In our opinion and according to the information and explanations given to us, there exists an adequate internal control system commensurate with the size ofthe Company and the nature of its businesswith regard to purchase of inventory, fixed assets and with regard to the sale of goods and services. During the course of our audit, we have not observed any continuingfailureto correct major weaknessesin internal controls. To the best of our knowledge and belief and according to the information and explanations given to us, we are of the opinion that there were no contracts or arrangements that need to be entered in the Register maintained under Section 301 ofthe Companies Act, 1956. Consequently, requirement of clauses (v, a) and (v, b) of paragraph 4 of the orderare not applicable. In our opinion and accordingtothe information and explanations given to us, the Company has complied with the provisions of Sections 58A and 58AA or any other relevant provisions ofthe Act and rules framed thereu nder. No order has been passed by the Company Law Board or National Company Law Tribunal or Reserve Bank of India orany Court orany otherTribunal. The Company has an internal audit system, which in our opinion, is commensurate with the sizeofthe Companyandthe nature of its business. We have broadly reviewed the books of accou nts relatingto materials, labourand other items of cost mai ntained by the Company pursuantto the Rules made by the Central Governmentforthe maintenance of cost records under Section 209 (1) (d) ofthe Companies Act, 1956 and we are ofthe opi nion that pri ma facie the prescribed accounts and records have been made and maintained. We have nothowevermadeadetailed examination of these records with a view to determine whether they are accurate and complete. (a) The Company isgenerally regularin depositing with appropriate authorities undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees' State Insurance, Income Tax, SalesTax Wealth Tax Service Tax Custom Duty, Excise Duty, Cess and ~ther mate;ial statuto~ dues applicable to it. Further since the Central Government hastill date not prescribed the amount of cess payable under Section 441A ofthe Companies Act, 1956,weare not in apositionto comment uponthe regularityor otherwise ofthe Company in depositingthe same. (b) There are no undisputed amounts outstanding as at March 31, 2011for a period of more than six months from the date they became payable. Followingamounts have not been deposited as on March 31,2011 on account of any dispute:
Nature of the dues Sales Tax

Nature of Statute Customs Act FinanceAct

Nature of the dues Custom Duty Service Tax

~in
Crores

Period to which the amount relates
2007-2008

Forum where matter is nendlne Joint Commissioner Joint Commissioner Additional Commissioner Assistant Commissioner CESTAT

0.05 2005-2006,2006-2007, 0-44 2004-2005,2005-2006 0.61 2004-2005,2005-2006, 2006-2007.2007-2008 0.05 2005-2006 0.22 2004-2005,2005-2006, 2006-2007,2007-2008, 200Q-2010

Ov)

Income Tax Act

Fringe BeneiitTax

0-42 2005-2006 0.13 2006-2007

ITAT CIT Appeal

(v)

(x)

The Company has neither any accumulated any cash losses duringthefinancialyearcovered immediately precedingfinancial year.

losses nor has Incurred by ourauditand in the

(xi)

In our opinion and accordingtothe information and explanations given to us,the Company has not defaulted in repayment of dues to financial institutions, banks ordebenture holders. The Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities. The Company is not a chit fund or a nidhifmutual benefit fund/society. Therefore, the provisions of clause (xiii) of paragraph 4 ofthe order are not applicable. In our opinion, the Company is not dealing in or trading in shares, securities, debentures and other investments. Therefore, the provisions of clause (xiv) of paragraph 4 ofthe order are not applicable. To the best of our knowledge and belief and according to the information and explanations given to us, in our opinion, the terms and conditions on which the Company hasgiven guarantees for loans taken by others from banks or financial Institutions are not prejudicial to the interest ofthe Company. To the best of our knowledge and belief and according to the information and explanations given to us, in ouropinion, the term loans obtained during the year were, prima facie, applied by the Company for the purpose for which they were obtained, other than temporary deployment pendingapplication. According to the information and explanations given to us and on an overall examination of the balance sheet of the Company, we report that funds raised on short-term basis have not prima facie, been used du ring the year for long-term investments.

(vi)

(xii) (xiii)

(xiv)

(vii) (viii)

(xv)

(xvi)

Ox)

(xvii)

(xviii) During the year, the Company has not made any preferential allotment of shares to persons covered in the register maintained under Section 301 of the Act except 2,00,50,000 equity shares have been issued to Promoters/Promoter Group on conversion of warrants. According to the information and explanations given to us, the price at which the shares have been issued is not prejudicial tothe interest ofthe Company. (xix) According to the information and explanations given to us and the records examined by us, the Company has not issued any Secured Debentures duringthe year. The Company has not raised any money by public issue duringtheyear. Based upon the audit procedure performed by us and as per the Information and explanations given to us, we report that nofraud on or by the Company has been noticed or reported duringthe course of ouraudit. For SORAB S. ENGINEER & CO. Firm Registration No. l10417W Chartered Accountants CA. N. D. ANKLESARIA Partner Ah medabad, May 20, 2011 Membership No. 10250

(c)
Nature of Statute Sales Tax Act

~in
Crores

Period to which the amount relates
2003-2004,2004-2005, 200S-2006

Forum where matter is nendlne High Court

(xx) (xi)

9.15 1998-1999,2002-2003,

0.05 2002-2003,2003-2004 2.58 2006-2007 1.00 2006-2007

Appellate

Tribunal

JCCT Appeal (VAT) JCCT Appeal (CSn High Court CESTAT

Central Excise Act

Excise Duty

9·91 2000-2001,2001-2002 5.60 2000-2001,2001-2002, 2002-2003,2003-2004, 2004-2005,2005-2006, 2008-200Q

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ARVIND

LIMITED as at 31st March, 2011

ANNUAL REPORT 2010 - 2011

Balance Sheet

~ in Crores Schedule SOURCES OF FUNDS Shareholders' Share Capital Reservesand Surplus Loan Funds Secured Loans Unsecured Loans Deferred Tax Liability (Note No. 25) Total APPLICATION OF FUNDS
2

~ in Crores As at 31.03.2010

As at

31.03.2011
Funds

254·40 1541.11 1795.51

239·55 1180-45 1420.00 1728.73 141.85 1870.58 12.82 3303-40

3 4

1763.23 48.89 1812.12 12.82 3620·45

Fixed Assets Gross Block Less: Depreciation Net Block Capital Work-in-Progress Investments Foreign Currency Difference Inventories Land held for Sale Sundry Debtors Cash and Bank Balances Other Current Assets Loans and Advances Less: Current Liabilities Provisions Net Current Assets Miscellaneous Expenditure Liabilities and Provisions Monetary Item Translation Account (Note No. 13)

5 3172.22 1170.26 2001·96 142.28 2144.24 6 309·40 (0.75) 7 699.16 34·50 563·63 29·09 100.52 379.17 1806.07 8 627.69 10.82 638.51 9 1167·56 0.00
433-42 432.00 0.00 424.16 43.14 95.90 484.80 1480.00 3002-45 1084-34 1918.11 46.86 1964.97 300.29 (1.06)

Current Assets, Loans & Advances

7-38
440.80
1039.20

0.00

(Tothe extent not written off) Total Notes Forming Part of Accounts As per our report attached For SORAB S. ENGINEER & CO. Firm Registration Chartered NO.110417W JAYESH K. SHAH CA. N. D. ANKLESARIA Partner Ah medabad, May 20, 2011 R. V. BHIMANI Company Secretary Director & Chief Financial Officer Accountants 16 SANJAY S. LALBHAI Chairman & Managing Director

73 2254.60 2252-49 64-40 11.Diluted Notes Forming Part of Accounts As per our report attached For SORAB S.42 0.00 0.110417W JAYESH K.00 0·90 45°·12 45°·12 5·64 5·63 16 SANJAY S. 23) .J\rVlnDI Profit and Loss Accou nt forthe INCOME: Sales Less: Excise Duty year ended on 31StMarch. 2011 R.80) 1. ENGINEER & CO.Basic .09 1.93 194·59 116.06 26°5·55 85·67 34. SHAH CA.59) 2590·93 968. Firm Registration Chartered NO.51 2725.84) 134·80 314.15 36·79 273·90 772.42 0. LALBHAI from Debenture Redemption Balance carried to Balance Sheet Earning Per Share ~ (Face Value ~ 10/-) (Note No. V.73 47-61 240.07 Chairman & Managing Director Director & Chief Financial Officer Company Secretary .00 8-77 (8-77) 52.72 Operating Income Other Income 10 11 EXPENSES: Raw Materials and Accessories Consumed Purchase of Finished Goods Employees' Emoluments Others Interest & Finance Costs (Net) Depreciation 12 13 14 129°.72 /1 mpairment in Stocks 5 15 (Increase)/Decrease Profit before Tax for the year Less: Current Tax Add: MAT Credit Entitlement 134·80 26. D.00 Reserve Reserve 52.83 2328.00 314. ANKLESARIA Partner Ah medabad.13) (19.00 Profit for the year Balance as per last year's Balance Sheet Less: Adjustment due to Demerger 282-34 (0-43) 281·91 (0. May 20.78 2276.16 (93.76) (0.20 314-42 314-42 Interim Dividend Paid on Preference Shares Tax on Interim Dividend Transferred Transferred to Capital Redemption 0.90 731-43 155-47 113-80 18. BHIMANI Accountants 2. N.84 (26. 2011 ~ inCrores Schedule ~ in Crores 2009-2010 2010-2011 2607·61 2.27 2.

80 116.00 (53.10 0.13) (130. Chartered Accountants SANJAY S.19 (5. N.82 14.09 (61. 2011 (~ in Crores) 2010-11 (~in Crores) 2009-10 52. 2011 Director & Chief Financial Officer R.00 0.14 Cash and Cash Eguivalent at the end of the Period Notes to Cash Flow Statement (Refer Schedule 16.76) (0.00 (19.13) (35·54) (0.00 0. ANKLESARIA Partner Ah medabad.52 15.09) 112·54 (4·53) (41.11) (1.91 0.00 (15.00 0.14 29.00 113.93) 33-47 (7.82 379.61 73. D.50) 16. BHIMANI Company Secretary [}Q] .72 0.21) 0.89) (200.00 43.80) 7·57 6.00 0.80 (0.12) Operating Profit before Working Capital Changes Working Capital Changes: Changes in Inventories Changes in Trade Receivables Changes in Other Receivables Changes in Current Liabilities 244.41 (241.41) (139.01) (320.61 (3.87) 130.70) 111.10 (30.52) 173.62 (9A9) 241. ENGINEER & CO. V.51) (6. 20) As per our report attached For SORAB S. Note No.77) 111.09 6.17) 195·72 (15.00 CASH FLOW FROM OPERATING ACTIVITIES Net Profit for the year Adjustments Retrenchment Interest Income Income from Investments Interest Expenses Exchange Rate Difference Excise duty Fixed Assets/Project Expenses Written Off off (Net) Off Provision for Bad Debt Bad Debts / Advances Written Sundry Debits/Creditwritten Losson Investments Proiit on Sale of Fixed Assets for: Compensation under VRS Depreciation/Impairment 134.56 Net Changes in Working Capital Cash Generated From Operations Advance Tax/TDS (Net of Income Tax Refund) Net Cash from Operating Activities B Cash Flow from InvestingActivities Purchase of Fixed Assets Sale of Fixed Assets Changes in Investments Changes in Loans & Advances Income from Investments Interest Income (180.41) (14.16 0.56) (172.05) 43. May 20.2011 Cash Flow Statement A forthe year ended on 31StMarch.60 293.83 Net Cash Flow from Financing Activities Net Increase/(Decrease) in Cash &Cash Equivalents Cash & Cash Equivalent at the beginning of the Period Less: Adjustment due to Demerger Cash & Cash Equivalent at the beginning of the Period after demerger OAO 26A3 43.14 0.99) 137.60 (287.90) (12.00 0·33 0·34 0.13) (lOA8) 0.13 0.63 (25.71 64·37 357·97 (lOA1) 347.17 35·55 (10·35) Net Cash Flow from InvestingActivities C Cash Flow from Financing Activities Issue of Equity Share Capital Redemption of Preference Received Shares Share Capital Issue of Warrants Share Premium Interim Dividend on Preference Taxon Interim Dividend Changes in Borrowings Interest Paid 13.00 (0·57) 0.50 (0.64) (0.87) (196.09) 197.00 11.71 26. SHAH CA. LALBHAI Chairman & Managing Director JAYESH K.ARVIND LIMITED ANNUAL REPORT 2010 .51) 0.

00 0.65 0.00 ISSUED & SUBSCRIBED EQUITY SHARES 2SA4.6S 0. S) EQUITY SHARES 2SA3.00 Preference Shares (Previous Year of ~ 100/.SOO/-) on forfeited shares) (ofthe above shares 39A4.000) 90.03 37-48 662·SS "·'3 673·68 20.00.000) Equity Shares (Previous Year of ~1of-each 360.78A41) of~ 10/.o41 Equity Shares (Previous Year 254·40 231. 11) As per last Balance Sheet Add: Received duringthe Less: Utilized duringthe 693·S3 6·so 700.00 450.00.12.S41)of~ 254·40 paid up 10/.9So Eq uity Shares) by way of capitalization of Reserves and 16.each fully 254·40 Add: 900 Shares Forfeited (Paid-up amount of~ 4.00 90.25 653·43 ~ .(Previous Year~ 4.': SHARE CAPITAL AUTHORISED 36.00 CAPITAL RESERVE As per last Balance Sheet Add: Addition duringthe Year (Note No.00 360.03.12.20" SCHEDULE '.o0.141 Equity Shares (Previous Year 23.06 26·7' S-33 21-32 26.268 Equity shares (Previous Year 16.each 90.99.02.268 Equity Shares) allotted asfully paid in terms of scheme of Amalgamation WARRANTS NIL Warrants (Previous Year 2.00 7·S7 254·40 SCHEDULE 239·SS '2' : RESERVES AND SURPLUS 26.2010 3'.each PAID UP (Note No.) 0.00.00 4so.00.03.Sched ules forming part of the Accounts ~ in Crores As at ~ in Crores As at 31.00.00.000 90.000 Warrants of~ lsi-each.19.00.19.00 0.SOO/.00 5·79 5·79 662·55 Year Year (Note No. S) GENERAL RESERVE As per last Balance Sheet Add: Addition duringthe SECURITIES PREMIUM Year 0.77.9So Equity Shares have been allotted as fully paid Bonus Shares (Previous Year 39A4. Paid up ~ 3-7Seach) without payment being received in cash.000 36.98 23.

9) S6.76 Crores) is payable within one Year & OTHERS 0.8S .1S RESERVE 69·5° 0.26 1728.20 31.03.00 0.80 As per last Balance Sheet Add: Addition duringtheyear Less: Transferto 311.00 777·73 772.67 1·38 2.2011 Sched u les forming ~ in Crores As at ~ in Crores As at 31.62 749·9S SCHEDULE '3' : SECURED LOANS (Note NO. 12) As per last Balance Sheet Add: Addition duringtheyear INVESTMENT (Net) 33-29 REVALUATION RESERVE (Note No.00 At Original Cost SCHEDULE' 4' : UNSECURED LOANS FROM BANKS Term Loan Other Facilities FROM FINANCIAL INSTITUTIONS DEFERRED ELECTRICITY DUTY INTER CORPORATE DEPOSIT Note: Unsecured Loans (Note No.73 Note: Secured Loans (Note No.°3.11 0.00 CAPITAL REDEMPTION As per last Balance Sheet Add: Transferred REVALUATION from Profit and Loss Account RESERVE 24-52 (Note NO.00 80.53 155°·26 212·97 212·97 746.00 49.19) BALANCE IN PROFIT & LOSS ACCOUNT 45°·12 1541.67 0.67 5·79 HEDGE RESERVE (Note No. 12) At Amortized Cost At Original Cost Out of above ~ 37-94 Crores (~121.ARVIND LIMITED part of the Accounts ANNUAL REPORT 2010 .64 70-42 S-38 27·8S 3S·S6 141. 12) At Amortized Cost 1728.65 General Reserve 80.2011 SCHEDULE '2' : RESERVES AND SURPLUS (Contd.00 26·78 4·06 16. 12) As per last Balance Sheet Add: Addition duringtheyear (2.6) DEBENTURES FROM BANKS Cash Credit and otherfacilities Term Loans FROM FINANCIAL INSTITUTIONS AND OTHERS 231.2010 662·SS 2.) DEBENTURE REDEMPTION As per last Balance Sheet Less: Transferred to Profit and Loss Account RESERVE 653·43 0.10 1.73 1730.70 19.

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(UNQUOTED) (HELD.07 28-32 S-39 (Shares of US$100 each) Arvind Worldwide Inc.000/-) (~ 48.og (Shares of~ 10/.000/-) (~ 1.07 28. (i) TRADE INVESTMENTS (AVAILABLE FOR SALE) FULL Y PAID EQUITY SHARES (QUOTED) Atul Limited SS9420 (Shares of~ 10/.00 0. INVESTMENT IN SUBSIDIARY COMPANIES FULL Y PAID EQUITY SHARES (UNQUOTED) Asman Investments Limited ** 76soo SOooo 7·65 0.01 12·75 1.each) Arvind Spinning Limited (Shares without parvalue) .. Delaware ** (Shares without parvalue) Arvind Overseas (M) Limited.each) (6S.000/-) (Shares of~ 10/.each) (ii) FULL Y PAID EQUITY SHARES (UNQUOTED) Ahmedabad Cotton Merchants' Co-operative Shops and Warehouses Society Limited 10 (~ 2.00.each) Arya Omnitalk Radio Trunking Services Private Limited (Shares of~ 10/. of Shares/ Debentures/ Units ANNUAL REPORT 2010 .2011 ~ in crores As at 31.TO-MATURITY) GOVERNMENT SECURITIES (~3.000 Shares allotted duringthe previous year) VF Arvind Brands Private Limited S466680 5·47 SA7 (Shares of~ 10/.500/-) (~ 2.each) Arvind Murjani Brands Private Limited (Shares of~ 10/.000/-) 7-Year National Savings Certificates (Lodged with GovernmentAuthorities) B.00 6.each) Syntel Telecom Limited (Shares of~ 10/.2011 Sched u les forming SCHEDULE '6': INVESTMENTS* A.SOO/-) (Shares of~ 10/.32 5·39 7-6S o. Mauritius ** S4840 SOo 238S171 824099 0.03.each) Gujarat Cloth Dealers Co-operative Shops and Warehouses Society Limited 10 (~ 1.ARVIND LIMITED part of the Accounts No. Mauritius (Shares of Mau ~100/.each) (iii) INVESTMENT IN JOINT VENTURE FULL Y PAID EQUITY SHARES (UNQUOTED) Arya Omnitalk Wireless Solutions Private Limited 1000000 100S000 88soooo 1.2010 .00 0.03.05 0.00 6.each) Arvind Worldwide (M) Inc.01 12·7S (Shares of~ 10/.. NON-TRADE INVESTMENTS ~ in crores As at 31.each) C.

03.10 (Shares of~ 2/-each.03.00.11 33.14 135000 0. SHARE APPLICATION MONEY 6000000 65·01 65.00 140.62 9.05 (Shares of~ 10/. of Shares/ Debentures/ Units ~ in crores As at 31.each) D.000 shares and sold 50.00. *** Listed but not quoted and book value istaken as market value 14·96 14·96 328.each) Arvind Products Limited 12%Cumulative Redeemable Preference Shares (Shares of~ 100/.each) (Sold 2.50.00 33.000 shares duringtheyear) Arvind Lifestyle Brands Limited 0 0.2010 0-34 (Contd.each duringtheyear) Arvind Infrastructure Limited 50000 0 0.000 shares alloted duringtheyear) Arvind Accel Limited 50000 known as 0. ** Revalued and adjusted in 2001-2002as perthe Scheme of Arrangement and the direction of High Court.05 (Shares of~ 10/.62 324-38 [}5J .14 10% Cumulative Redeemable Preference Shares (Shares of~ 10/.05 0.100 shares d uringthe year) FULL Y PAID EQUITY SHARES (QUOTED) Arvind Products Limited 2857142 300000 1.05 0.00.50.each) Arvind Retail Limited 0.26 3-50 (Shares of~ 10/.2011 1·53 ~ in crores As at 31.15 9.each) (2.05 50.71 300.each) Anup Engineering Limited*** 3·50 (Shares of~ 100/.29 Less: Provision for Diminution in Value of Investment Total Aggregate value of quoted Investments At cost price At market price Aggregate value of unquoted Investments At cost price * Previously classified as Long Term Investments and valued at Cost unless otherwise stated.05 (Shares of~ 10/.05 0. previous year ~ 10/-each) (Purchased 1.each) (Sold 2.00.00 (Shares of~ 10/.000 shares of ~ 10/.each) Arvind Brands and Retail Limited (Formerly Silverstone Properties Limited) 50000000 189.71 309·40 1·93 334.each) FULL Y PAID PREFERENCE Arvind Products Limited SHARES (UNQUOTED) 0.Sched ules forming SCHEDULE '6': INVESTMENTS* part of the Accounts No.01 5·56 343.) 320000 Arvind Textile Mills Limited (Shares ofTaka 10/.66 1.50.

60 243.52 good unless stated Otherwise) 106.09 0.76 Crores lodged with Bank as Security for Guarantee Facilityand ~ 0.01 Crores lodged with Court for ESI case (~6.23 (~ 42.76 95-oS 82.42 11.31 622.01 395-01 432.12 413.64 3·69 245·98 2·74 1·30 666.01 Crores respectively)) 6.51 1.ARVIND LIMITED part of the Accounts ANNUAL REPORT 2010 .2010 31.60 563.61 0.04 424.25 100.00 243.00 11.16 0·S3 Others (Considered Good) Cash & Bank Balances Cash on hand Bank Balances With Scheduled Banks In Current Accounts (Including ~ 0-33 Crores in unpaid dividend accounts) (~ 0-33 Crores) In Exchange Earners Foreign Currency Aje.81 .00 Land held for Sale Sundry Debtors Outstandingfora (Unsecured) period exceedingsix months Considered Good Considered Doubtful Less: Provision 45·03 1.07 8.27 100.09 0.12 1.81 0.24 9S·66 95.11 (~ 45.00 1.2011 Sched u les forming ~ in Crores As at ~ in Crores As at 31.03.60 0.2011 SCHEDULE '7': CURRENT ASSETS.09 0.61 43-14 0.67 29·09 Other Current Assets Interestaccrued Other receivables LOANS & ADVANCES Loans & Advances Advances Receivable in Cash or kind orforthevalueto Considered Good Considered Doubtful Less: Provision be received (Unsecured.732/-) 9·79 28.19 Crores and ~ 0.96 9-38 206.808/-) 14·89 24-52 0. considered 42.19 1.63 0.00 0.90 0.09 0. In Cash Credit Account In SavingAccounts In Fixed DepositAccounts (~S. LOANS AND ADVANCE CURRENT ASSETS Inventories Stores and Spares Fuel Stock-in-trade Raw materials and Accessories (Including Material in Transit) Finished Goods Finished Goods (Traded) Work-in-Progress Material Work at Site Waste 30·35 2·50 295·96 116.51 0.16 34·50 3S·23 1.03.52 0.19 0.00 45·03 518.00 106.15 7.

00 347.03.91 0.17 1806. . Previous Year~ 44.22 0.83 10.23 0.69 0-33 0.91 0.Unpaid Matured Debentures .18 4-39 484.51 oAS 0.06 0.76 Crores) SCHEDULE '8' : CURRENT LIABILITIES & PROVISIONS Current Liabilities Acceptances Sundry Creditors .Unpaid Dividend .06 34.82 638.Others Other Liabilities (Note NO.18 7.06 0.84 71.Sched ules forming part of the Accounts ~ in Crores As at ~ in Crores As at 31. The actual amount to be transferred to the Fund in this respect will be determined on the respective due dates.11 193·38 177·06 7.56 92.97Crores.91 7.00 170.) 0.7) Interest accrued but not due on Loans Investor Education and Protection Fund shall 108.2011 SCHEDULE '7': CURRENT ASSETS.24 be credited by the following amount namely:@ .Dueto Micro & Small Enterprises (Note No.23 0.00 177·06 8·73 379.88 31A8 310.62 627. 2011 for credit to Investor Education and Protection Fund (Fund). Excise etc.80 @ No amount is due as on 31St March.81 433A2 Provisions Pension Superannuation Gratuity Leave Encashment 0·56 1·59 1.80 1480. LOANS AND ADVANCE Balances with Custom.00 31.00 0.01 Advance Tax paid (Net of Provision of~ 6S.00 424. 18) .00 1·92 S·01 7-38 440.04 55·63 31.06 1.91 7.23 170. MAT Credit Entitlement Other Loans Loans and Advances to Subsidiary Companies Considered Good Considered Doubtful Less: Provision Receivable (Contd.84 6.19 0.75 1·54 12A7 0.03.Warrants Issued but not Encashed -Interest -Interest on Deposits on Debentures 0·33 0.2010 0.

18 9-49 11.01 Crores) Rent (Tax Deducted at Source f 0.84 64-40 SCHEDULE '11': OTHER INCOME Incomefrom Investments (Gross) 0.01 Crores.ARVIND LIMITED part of the Accounts ANNUAL REPORT 2010 . Bonus and Gratuity Contribution to Provident Fund and Other Funds 238·38 25·65 4·93 268·96 Directors' Remuneration (Note NO. Previous Year~ Nil) 85·67 27·47 23.04 Crores.13 (10.07 0.40 0.17 3·S9 240.17 From Trade Investments Other Income (Tax Deducted at Source f Nil.2011 Sched u les forming ~ in Crores As at 31.03. Wages.2010 10.00 0. Previous Year f 0.2) 2·54 2·40 4·94 273·90 210-41 22·92 3-98 237-31 3-42 0.00 EXPENDITURE ~ in Crores As at 31.51 0.10 Crores) Excess/Short Provision No Longer required (Net) Pront on Sale of Fixed Assets (Net) 1.00 0.52 1·49 0.03.10 27.69 30.00 0.90 Welfare Expenses Directors' Commission .12 34. Previous Year~ 0-48 Crores) Gain/(Loss) on Forward Contracts Other Operating Income (Tax Deducted at Source f 0.00 Add: Addition duringtheyear Less: Adjusted duringthe year ~ in Crores 2010-11 SCHEDULE '10': OPERATING INCOME Processing Income (Tax Deducted at Source f 0-38 Crores.2011 SCHEDULE '9': MISCELLANEOUS (Tothe extent not written off) Retrenchment Compensation underVRS 0. Previous Year~ 0.20) 0.69 0·S9 1.26 34·94 ~ in Crores 2009-10 24-46 12.83 SCHEDULE '12': EMPLOYEES' EMOLUMENTS Salaries.

Stationery and Communication Turnkey Project Erection Charges Insurance premium Rates & Taxes Excise Duty Rent Commission.01 53·80 772.02 SS-48 731-43 Freight. Insurance and Clearing Charges Provision for Doubtful Debts Bad Debts Written Off Fixed Assets/Project Expenses Written off Loss on sale of Investments (Net) Directors' Sitting Fees Other Expenses SCHEDULE '14': INTEREST AND FINANCE COSTS (NET) Interest On loans fora Fixed Period Others Less: Interest Income Interest from others (Gross) (Incometax deducted ~ 0.82 79·45 4.22 309-36 18. Previous year~ 1.67 24·77 31-38 0.14 3·02 3·38 3.14 20-36 26·91 4.78 (~ 2S.Sched ules forming SCHEDULE '13': OTHERS Power&Fuel Stores Consumed Processing Charges Repairs: Building Repairs Machinery Repairs Other Repairs Printing.93 ~ in Crores 2009-10 208.19 0.00 0.13 15·95 26.00 0. Brokerage and Discount Advertisement Miscellaneous Expenses LabourCharges part of the Accounts ~ in Crores 2010-11 243·69 192.04 0.00 30.99 Crores) Net Interest Expenses Other Finance Cost Exchange Rate (Gain)/Loss 126.21) 194·59 129·16 S7-37 186·S3 3S·S4 1so·99 26·79 (22-31) 1SS-47 SCHEDULE '15': (INCREASE)/DECREASE IN STOCK Finished Goods.92 290·58 20.28 0.25 (5.87 173.83 87.00 0. Work-in-Progress Closing Stocks Opening Stocks Less: Adjusted against Securities Premium (Note No.25 0.29 Crores.59) 290·S8 339·S8 0.42 76.29 (93.19 15·64 157·55 42.3S3L-} 18.20 0·34 0.18 30.00 0. 11) Less: Written off duringthe Less: Adjustment Year dueto Demerger and Waste Excise Duty in Value of Stocks -I ncrease / (Decrease) (Increase)/Decrease in Stock 363.32 46.42 0.78 .10 0.03 0.04 (93.62 202·S3 98.68 5·00 23.98 37-30 7-39 4S·67 4·S7 0-44 4·S6 3.09 0·33 0.00 270.00 0.21 2.63) 0.

(E. if the entitlement be estimated with reasonable accuracyand precedent to claim are fulfilled. of revenues method nature.l) Sales and operating income includes sale of products. (B) INFLATION Assets and liabilities are recorded Company of fixed assets and providing (AS) . Cost is measured on actual average for the whole year. The stock of waste is valued at market price. New 2009 issued by Ministry is spread of Corporate the residual life of the assets or as per rates specified in the Schedule whichever is higher. execution over different accounting the basis of percentage for Construction Percentage proportion Contracts.ARVIND LIMITED forming part of the Accounts ANNUAL REPORT 2010 . on shipment (Lr) Fixed assets are stated acquisition/revalued accumulated depreciation at their original cost of less cost wherever applicable from export sales are recognized and impairment losses. to fixed assets after accordance with Accounting Standard 7.2011 Notes r.30' on 'Financial Instruments: Recognition and Measurement' which have been measured at their fair value) and accounting principles generally accepted in India. Difference profit/loss between costs incurred plus recognised recognised losses and the amount invoiced is treated as contract in progress. Determination of completion estimates a technical completion. (C.2) All other materials inventories (Electronics of stores. by-products and waste. (D. project material raw at (except so far as they relate to (a) revaluation for depreciation Instruments: amounts and (b) items covered under'Accounting Measurement"which site are valued at cost.2) Revenue from job work services is recognized of contracts. The cost has been measured on the standard cost basis and includes cost of materials and cost of conversion.3) Revenue in respect of projects for Construction Plants and Systems. The financial statements have been prepared in accordance with the historical cost convention (except so far as they relate to (a) revaluation of fixed assets and providing for depreciation on revalued amounts and (b) items covered under'Accounting Standard (AS) . Future results could differ from these estimates. Division). consumables. income from job work Sales services and gain or loss on forward are recognized which generally coincides with contracts. Affairs. relating some of which are of expected revenue losses to costs to completion. preparation income and expenses duringthe Management VALUATION OF INVENTORY (Du) The stock of Work-in-progress and finished goods of Business has believes that the estimates statements of the financial are prudent the Yarn. 19S6 of depreciable as per the notification loans on the services rendered in accordance with the terms assets are being dated 31st March. based on passage of title to goods dispatch. The other raw materials. Exchange rate gain or loss on foreign currency related to acquisition capitalized Delhi.30' on 'Financial at historical cost to the on revalued Standard and been valued at the lower of cost and net realizable value. Land held for sale is stated at the lower of their net book value and net realizable value. excise duty & Sales Tax/ VAT. (A) SCHEDULE. conti ngent liabi lities) as ofthe date ofthefinancial and the reported period.S) Additions applicable. Fabric and Branded Garment reasonable. finished goods and stock at branches are valued at lower of cost and net realizable value. is determined by the done of which periods. Export incentives are accounted on accrual basis can conditions (E. The preparation to of financial statements and requires assumptions the in (D) till date bears to the estimated total contract cost. Revenue basis.6 : NOTES FORMING PART OF ACCOUNTS: SIGNIFICANT ACCOUNTING POLICIES ACCOUNTING CONVENTION The Company follows the accrual method of accounting. is recognised of completion method of on in (EA) based (E-3) Cost comprises of all costs incurred to bringthe assets to their location and working condition. Depreciation on Revalued Fixed Assets is calculated on XIV to the Companies Act. Sales are stated net of returns. (C. (E) FIXED ASSETS & DEPRECIATION Recognition have been measured attheirfairvalue). These costs are not adjusted to reflect the changing value in the purchasing power of money. Excise duty wherever applicable is provided on finished goods lying within the factory and bonded warehouse at the end of the year.Accounting of completion ist October 2006 that contract costs incurred forwork have been stated at cost net of CENVAT wherever . under the percentage necessarily to the involves making percentage of by the Company. (C) REVENUE RECOGNITION (C. the contract and the foreseeable (CA) Claims receivable on account of Insurance are management the reported make estimates accounted fortothe certain oftheir extentthe Company is reasonably amounts of assets and liabilities (including statements reporting used in and ultimate collection.2) at the time of export of goods. from completion.

6) in the profit and loss account.2) Monetary items denominated in foreign currencies at asset's revised carrying amount. INVESTMENTS (G. (E. derecognition recognised in the investment or ofthe investments. the higher of the asset's net selling price and value in use). classified as available reporting for sale are (1-3) Changes in the fair value of derivatives determined to be an effective that are at subsequent dates to fair designated and qualify as cash flow hedges and are hedge are recorded in hedging reserve account. on Straight Line Method (SLM). All long-term foreign currency monetary items of foreign currency items are carried at is provided over the balance life of the assets as per dated 31St March.ooo/.6) forming part of the Accounts Directly projects identifiable of capital preoperative nature under expenses of new implementation reserve account account. Unrealized gains/losses on such investments are recognised directly in Investment Revaluation Reserve Account. the Company The Company neither enters into forward. Leasehold Improvements: (E. 2012 whichever is earlier. as per rates specified XIV to the which Companies Act. over its remaining the year end are restated at year end rates.e.2) Derivative financial instruments at their fair value on the transaction and are re-measured are initially recorded of the derivative at their fair value at for impairment recoverable. (H) FOREIGN CURRENCY TRANSACTIONS (H.1) Investments within Subsidiaries. cumulative gain or loss revaluation . Exchange rate difference on other long-term to 'Foreign Currency Item Difference Account' to be amortized Standard 28 on Impairment of Assets when at of loan or up to 31StMarch. (H-3) Non-monetary cost. (F) IMPAIRMENT OF ASSETS An asset is considered Accounting as impaired in accordance of impairment with and to in the year of purchase on consisting depreciable of loans which relate to acquisition capital assets at the end of the year have at the rate prevailing at the balance been restated pro rata sheet date. 2009 issued by the Ministry of Corporate Affairs.2) Investments provision indicate Financial Statements. (H. impairment previously At the time of disposal. DERIVATIVES and COMMODITY HEDGING TRANSACTIONS (1.?) Depreciation on Fixed Assets is provided. for speculative purposes. To designate a forward contract or option as an effective hedge.1O) Individual assets costing less than ~ S. holds nor issues any derivative financial instruments in subsidiaries are valued at cost less any Investments amount are reviewed may not be if events or changes in circumstances the carrying for impairment. or where applicable the or on translation unit to which the asset belongs. (H. (GA) Investments classified as held for trading that have a market price are measured at fair value and gain/loss arising on account of fair valuation is routed through profit and loss account.2009. Expenses of overseas offices are translated and accounted atthe monthly average rate. in the Schedule pro rata for the period of use. swap contracts and other derivative financial instruments.have been fully depreciated basis.1) Transactions denominated in foreign currencies are (E. Available for Sale and Held-to-Maturity the meaning of Accounting Standard 30 on Standard 'Financial Instruments: Recognition and Measurement' read with the limited revision of Accounting 21on Consolidated (G. The carrying amount is reducedtothe recoverable impairment (G) amount and the reduction is recognized as an (I) are classified as investments in loss in the profit and loss account. that (1. (E.S) Any income difference or expense on account either on settlement of exchange balance sheet date there are indications the carrying amount cash generating of the asset.8) Depreciation useful life.1) In order to hedge its exposure to foreign interest rate and commodity exchange. (H. (E. price risks. option.Notes (E. under capital work-in-progress. (G-3) Investments remeasured date subsequent balance sheet dates.9) Depreciation the notification on exchange rate difference capitalized (HA) on impaired asset is provided 10% on the estimate of useful lives of normally recorded at the exchange rate prevailing at the time ofthe transaction.11) Revaluation Reserve on Assets sold is transferred General Reserve. exceeds its other than as mentioned in (HA) above is recognised recoverable amount (i. is recognised in the profit and loss are carried forward pending capitalization. The difference arising as a result has been added to ordeductedfromthe the notification cost ofthe assets as per of Corporate loans is carried Translation up to the period issued by the Ministry foreign currency Monetary Affairs dated March 31. 19S6 except for the following are based on management's the fixed assets: Car Vehicles: 20%. management objectively evaluates and evidences with appropriate inception of each contract supportingdocumentsatthe value.

(M. Gratuity scheme is administered through trust recognised by the Income TaxAuthoritiesand/orby Life Insurance Corporation of India. Insurance Fund and Employee's Pension Scheme are income and the taxable income for the year that originates in one period and are capable of reversal in one or more subsequent periods. is provided for in the books. Basic EPS is computed by dividing the net profit or loss for the year by the weighted average number of Equity Shares outstanding during the year. The Company also pays insurance premiums to fund a post-employment a Defined Contribution asset only when and to the extent there is convincing evidencethatthe Company will pay normal income tax within the specified period. if any. except where the resu Its are anti-dilutive. (I. adjustments assumptions and the effects of changes in actuarial immediately Profit and Loss Account as income or expense. The Company's to State Plans namely Employee's State revenue everyyear. ifany. (J-3) Actuarial Gains and Losses comprise and are recognised of experience in the (N) EARNING PER SHARE The Company reports basic and diluted Earnings Per Share (EPS) in accordance with Accounting Standard 20 on Earnings Per Share. (K) BORROWING COST Borrowing incurred costs include interest.ARVIND LIMITED forming part of the Accounts whether the contract is effective in achieving offsetting cash flows attributable to hedged risk. under operating lease term. It is as calculated on the basis of effective interest rate in accordance with Accounting Standard (AS) . If a hedged is no longer expected to occur. Any cumulative recognised in gain or loss on the hedging instrument forecast transaction is discontinued. using the tax enacted as on The Company has Defined Benefit Plans namely leave encashment/compensated absences and Gratuity for all the employees. Diluted EPS is computed by dividing the net profit or loss for the year by the weighted average number of equity shares outstanding during the year as adjusted forthe effects ofall dilutive potential equity shares. the liability for which is determined on the basis of an actuarial valuation at the year end and incremental liability. (L-3) cumulative gain or loss recognised in hedging reserve been allocated to periods during the lease term so as periodic rate of interest on the period. remaining balance of liabilityforeach Lease Rentals for assets acquired lease are recognised Account on astraight (J) EMPLOYEE BENEFITS as an expense in Profit & Loss line basis overthe (Li) The Company and has Defined benefits Fund Contribution which are Plans for Fund are recognized post employment Superannuation Income by the namely Provident These funds (M) TAXES ON INCOME (Mr) Tax expense consists of both current as well as Tax Authorities.1) Assets acquired under Finance Lease are segregated from the assets owned and recognized as asset at an amount equal to the fair value of the leased assets at the inception minimum corresponding of the lease or the present value of the whichever liability. the net to net profit or loss fortheyear.2011 Notes revenue expenditure attributed to the and charged to profit and loss account costs acquisition/improvement of qualifying forthe year in which it is incurred except for borrowing hedging reserve is kept in hedging reserve until the hedged accounting (L) Amounts deferred to hedging reserve assets up to the date when such assets are ready for intended use which are capitalised as a part ofthe cost of such asset. Lease rental payable on such finance lease has been apportioned between finance charge and the reduction liability.30 and considered . that do not qualifyfor balance in the (L. The finance charge has in the outstanding to produce constant expires or is sold. The actuarial valuation is done based on Projected Unit Credit Method.2) every year. in respect oftaxable incomefortheyear. is lower with outstanding lease payments Derivative financial instruments hedge accounting are marked to marketatthe sheet date and gains or losses are recognised profit and loss account immediately. occurs orthe ANNUAL REPORT 2010 . Plan administered by ICiCI year. Such deferred tax is quantified rates and laws enacted or substantively the Balance Sheet date. in connection fees and other charges with the borrowing of funds. LEASE ACCOUNTING are recycled in the profit and loss account in the periods when the hedged item is recognised in the profit and loss account or when the portion of the gain or loss is determinedto (I A) be an ineffective hedge. (M-3) Deferred between tax is recognised the accounting on timing difference Lombard General Insurance Company Limited which is charged to revenue Contribution chargedto (J.2) when the hedging or exercised.2) Minimum Alternate Tax Credit is recognised as an are charged to revenue every medical assistance scheme. Currenttax represents amount of administered contributions through thereto and the Company's income tax payable including the tax payable u/s llSJB. trustees deferred tax liability.S) Hedge accounting instrument transaction is transferred is discontinued (L. terminated or no longer qualifies for hedge accounting. (MA) Deferred tax asset is recognised and carried forward to the extent that there is a virtual certainty supported by convincing evidence that sufficient future taxable income will be available against which such deferred tax asset can be realized.

91 Equity Shares and Warrants (1) In the Extra Ordinary preferential /Promoter convertible allotment Group General Meeting of3.19 0.12 0.09 Fund 2009-10 joint venture ~ 330.29 Crores.01 255.01 2.10.000 into Equity Shares within the stipulated from the date of allotment. the Company shares of ~ exercise directors and paid up amount 49·74 116.500 equity of ~ 4.30.30. Sales Tax demands. MANAGERIAL REMUNERATION: DIRECTORS' REMUNERATION Particulars Managing/Whole-time (i) (ii) Salaries Contribution to: Directors (~in Crores) (d) Guaranteegiven by the Company to Bank on behalf of others ~ 49.000 of the Company have approved the of ~ 15/.06 Crores) respectively.14 Crores) and ~ 1-33Crores (~1. Contingent up to ~ 0. 1956 to Non Whole-time on capital account and not provided for ~ 140. amount of contracts remaining to be executed Provision for Gratuity (iii) (iv) (v) (vi) Perquisites Medical Expenses Other Allowances Commission Total (ix) Commission Directors TOTAL Computation of Net Profit in accordance Companies Act. CONTINGENT (a) (b) Bills discounted ~114.Notes (0) forming part of the Accounts CONTINGENT LIABILITIES AND Commission to (a) degree when there of estimation is a present liabilities (b) Chairman and Managing Director and Whole Time Director at 10%maximum~ Non Whole-Time restricted 6.00.06 Crores to for conversion of 1. Debentures and GDRs are being adjusted against Securities Premium Account by Section 78 ofthe Companies Act. stand forfeited Capital Reserve.32.64Crores.50.which are held on May 12.56 Crores). PROVISIONS. Accordingly.00. 2009.02 1. (2) (~in Crores) The Promoters/Promoter for conversion of warrants) date of allotment or before the expiry of 18 months from the date of allotment with Section 198 of the Group have exercised the right warrants (1. Claims against the Company ~ 8. not acknowledged as Debt as permitted (c) Guarantees given by the Banks on behalf of the Company ~ 23.per share.20 Crores (~55-49 Crores). The Promoters/Promoter Equity Shares) of ~ Equity Shares at a premium 10/.29 Crores (~ 8. the shareholders at an issue price 1.73 Crores (~208.51Crores).82 Crores (~6. 3.04 1.72.000 into Equity Shares within the stipulated Accordingly.000 period of the said of 2.000 warrants (4.00. Directors at 1% maximum ~ 0. 0.08 0. CONTINGENT ASSETS Provisions obligation involving a substantial in measurement are recognized as a result of past events and it is probable that of resources.11 4·65 0.000 equity shares of ~ 10/. in to 2.17 3·59 warrants to Promoters into 3.000 Particulars Profit before Taxes as per Profit & Loss Account Add: Depreciation as per Accounts 2010-11 134·80 116.80 0.75 Crores).67 Crores.06 Crores (~ 15.84 Crores (~ 15-42Crores).91 (3) 18 months from the date of allotment. LIABILITIES are not recognized but are disclosed in the accounts by way recognized nor disclosed in the financial statements.00. (e) Guaranteesgiven bytheCompanyon behalfofthesubsidiary/ 2010-11 0. Provident Fund Superannuation 0.80 Crores (~Nil).16 23·66 66·35 (~ 21-32 Crores) on such warrants has been transferred has issued 23. Income Tax demands and Service Tax demands in dispute ~16. ~ 3. (f) 0. ~ 18.03 5.each at a but on premium of~ sI-atanytimeafterthe in one or moretranchesand. The estimated Crores).00 3-42 0.32.00.50.40 0.11 Crores.29 0.02 Crores (~14. (4) During the year. restricted upto t 2. of stock underthe .04 Crores (~13-52 Crores).50. warrants stand converted (1.000 ~ sI. 2.00. (P) CAPITAL ISSUE EXPENSES Expenses on issue of Shares.65 per share on to its employees and Managerial Remuneration 10/- each at a premium option granted ESOS 2008 plan.09 0. Contingent assets are neither there will be an outflow of a note.29 4·94 4.14 0.each Managerial Remuneration Directors' Sitting Fees Less: Surplus on disposal of fixed assets as Per Section 349 Depreciation Adjustment Net Profit under as per Section 350 on account of earlieryear Section 349/350 for computing Group have not exercised the right warrants) period of 18 months the said warrants of ~ 0.00.16 4·94 0.66 Excise/Custom demands.

Loans from Banks stand secured as under: Term Loans of ~ 772. Current Assets includes ~ 292.ARVIND LIMITED forming part of the Accounts B. Some ofthe by second charge on movable secured 9· REVALUATION OF FIXED ASSETS The Company Leasehold has revalued the entire from block of Freehold and Land with effect 31St March. Santej and Khatrej. the Company has reassessed its fixed assets and is of the view that no further impairment/reversal is considered necessary in view of its expected realisable value. (c) charge on the Company's Trademarks and (d) Secured by second charge on all the Company's Current Assets both present and future relating to the Textile Plants. Movable Properties. charge on all the Company's presently relating to the Textile Plants and all the Current Assets by the Company at any time after the execution of the Indenture of Mortgage.94 Crores are secured Immovable Properties. 100 to 103 read with other of the Companies of the Company Act. 2009 Properties. Loan of~ 2. movable Movable Properties. 7· 8. Loans amounting first charge Properties.64 Crores Crores) due to subsidiary companies. Loans of ~ 1. Vadsar. The resultant increase in the gross block amounting to ~ 230. spares. Moti Bhoyan. 2009. Santej and Khatrej. District Mehsana Asoka Spintex Division at Naroda Road. Pursuant to the Scheme. District Mehsana Village Khatrej atTaluka Kalol. The Company is in the process of creating security. Karoli. by (a) 11. 2011 based on a valuation made by an approved valuer. District Jethlaj.84 Crores are secured related vehicles.73 Crores Current Assets of and Ahmedabad. Intangible Properties and General Assets acquired by the Company at anytime after execution of and duringthe facilities continuance are additionally ofthe Indenture of Mortgage. Vadsar. "Textile Plants" means all immovable properties of the Company. Out of these ~ S38. LOANS OTHERS SECURED LOANS FROM BANKS.2011 Notes 6.53 Crores c. Intangible Properties and General Assets acquired by the Company at any time after execution of and duringthe continuance ofthe Indenture of Mortgage. Plant and Machinery Bangalore. 19S6 was approved on 2sth September.48 Crores (~0. includes ~ 6. Other Liabilities include ~ 1. REDUCTION OF CAPITAL: A Scheme of Reduction "the Scheme") relevant sections the shareholders and sanctioned of Capital (herein after referred to as by on Out of Loans of ~ 212. 2006. Properties Movable and General Properties. including and all moveable but Secured by (a) first charge on all the Immovable Properties. has been utilized to the extent of ~ 20.98 Crores has been adjusted in the carrying value of Land block and credited to Revaluation Reserve. at the following textile plants ofthe Company: a) b) c) d) Naroda Road.2S Crores (~37-48 Crores) of ~ 60 Crores).S1 Crores (~ Current Liabilities 2S7-89 Crores) (~ and 82. on all the Intangible presently Movable Assets of Intangible of the Company all Immovable relating to the Textile Plants and under Sections 78. (c) charge onthe Company'sTrademarksand (d) Secured bysecond charge on all the Company's Current Assets both present and future relating to the Textile Plants.20 Crores are additionally secured by first charge on Movable Fixed Assets of Jeans and Shirts Garment divisions at Bangalore. to ~ 208. of the Jeans and Shirts Garment divisions at IMPAIRMENT OF FIXED ASSETS From Financial Institutions and others: Loans from Financial Institutions and others stand secured as nder: In accordance with the Accou nti ngStandard (AS-28) on 'I mpai rment of Assets' notified by Companies (Accounting Standards) to be Rules. The details are as . Movable Properties. Intangible Properties and General Assets ofthe Company presently relatingto the Textile Plants and all Immovable Properties. Movable Properties. Karoli. Out of these ~ 17-S4Crores are additionally secured by first charge on Movable Fixed Assets of Jeans and Shirts Garment divisions at Bangalore. 10.97 Crores A. Properties and General Assets acquired by the Company at any time after execution the Indenture of and during the continuance of Mortgage.94 Crores) on account of book overdraft. (b) additional charge by way of by the High Court of Gujarat at Ahmedabad lsth December.S6 Captial Advances includes ~ 1-37Crores (~Nil) due from subsidiary companies. District Ahmedabad Village Santej atTaluka Kalol.19 Crores is secured by f rst charge on Company's Immovable Property situated at Ramnagar. Moti Bhoyan. Bangalore. tools machinery by hypothecation of properties. excluding Investments and excluding current assets charged in favour of the Working Capital Lenders. FINANCIAL INSTITUTIONS AND ANNUAL REPORT 2010 . Cash Credit and other facilities Secured acquired by first of ~ 777. and accessories. (b) additional on Immovable Properties at villages charge by way of mortgage machinery. during the continuance They are also secured by asecond charge overall the Immovable Properties. Intangible Properties and General Assets ofthe Company presently relatingto the Textile Plants and all Immovable Properties. the balance in Share Premium (out of permitted under: utilization account mortgage on Immovable Properties atvillages Jethlaj.

Financial in its entirety. The details of the Company's employees including Managing Gratuity Director Fund for its are given • As a result: (a) An amount of ~ Nil being the exchange rate below which is certified by the actuary and relied upon by the auditors: .06 Crores) remains to be amortized as at the balance sheet date. Investments.7S Crores being the exchange rate year (Previous year gain of ~ 1. (ii) State Plans The Company has recognised the following Profit and Loss Accountfor Contribution by ~ 2. 14. FOREIGN EXCHANGE DIFFERENCES issued by the Ministry of Corporate from time to for had already exercised the option amounts in the • to State Plans: (~in Crores) As per the notification time. (b) An amount gain forthe of ~0.10 April i. FINANCIAL INSTRUMENTS: Benefits (AS 1SRevised 200S) notified by Companies (Accounting Standards) Rules.B9Crores on account offair 13.30.Consequent to the adoption ofthat option: (a) Exchange currency rate differences are of long-term to foreign 6·38 loans which related acquisition (iii) Defined (a) Benefit Plans Absences ~ 3.25 difference for the year (Previous year gain of ~ S-3S Crores) has been adjusted against the fixed assets. OF AS 30. 2007.200B. administered by the Trust except isadministered is lower. Standard -13' on 'Accounting The Rules ofthe Company's Provident Fund Standard -11' on 'The Effects for Investments' as had been by a Trust require that ifthe Board ofthe Trustees are under Para60 ofthe Employees' Provident shall be made Exchange Rates' and 'Accounting unable to pay interest atthe rate declared for Employees' Provident Fund by the Government Fund Scheme.77 Crores made as per leave of depreciable overthe (b) fixed assets have been added to or Leave Encashment/Compensated Salaries.Notes Sr. the Company accounting Affairs dated 31st March. the following disclosures have been made as required by the Standard: (i) Defined Contribution Plans amounts in the Plans: (~in Crores) Particulars Provident Fund Superannuation Fund 2010-11 10·77 1·75 AND MEASUREMENT to the Accountants Recognition limited Announcement of the Institute of had of India (I CAl). Reserve account is higher by ~ 31. In the spirit of complete adoption . EARLY ADOPTION RECOGNITION • Chartered Instruments: read with Accordingly. 2006. the Company has changed the designation financial assets and respective fair of AS and measurement derivatives whichever of all its significant 2009-10 B-47 1. as on Balance Sheet date. Wages and Bonus include (~ 3. No. 2012 whichever is earlier. the Company had also implemented limited revisions to 'Accounting of Changes in Foreign announced by the ICAI.09 Crores) actuarial valuation towards provision absences. on other long-term foreign to 'Foreign Difference (b) Translation Exchange rate differences currency Currency Account'to Monetary in respect of accumulated loans have been transferred Item be amortized encashment/compensated Contribution to Gratuity over the balance period of loans or up to 31st March. Loans and Unsecured Loans are lower ~ 2-41 Crores and ~ 3-03 Crores valuation of outstanding derivatives. respectively Secured is less or for any other reason.30. and Hedge good by the Company.as published by ICAI with effect from 1stJuly. then the deficiency the return on the investments. the Company and Measurement' in various Consequent chosen to early adopt 'Accounting revisions Standard . Funds deducted from the cost ofthe assets and depreciated balance life ofthe assets and. EMPLOYEE BENEFITS of Accounting Standard on Employee i Reduction Stock Total in carrying value of Consequent to the adoption 12.19 Crores. forming part of the Accounts Particulars Amount ~ in Crores Effect on Profit fortheyear had the scheme not prescribed this accounting treatment 20. Having regard to the assets of the fund and the Company does not expect any deficiency in the foreseeable future. 19S2 for the reason that the return on investment • As a result.63 by liabilities.2S To the same extent 20. All the financial assets and financial liabilities and have been remeasured at their values or at amortized cost as against cost or market value the consequential The Company's Provident Fund is administered for Branded Garment Divisionat Bangalorewhich the State Government. 2009 as amended of exchange rate differences with effect from Particulars Employee's State Insurance Employee's Pension Scheme 2010-11 5·05 2009-10 4-30 6. Accounting other The Company has recognised the following Profit and LossAccountfor Defined Contribution Standards.

A Amount of Contract Revenue recognized Disclosure Contract profits B reporting in respect cost incurred less recognised date Nil Nil 0.22 5·58 (3.47 1.63 2009-10 Current Year Previous Year (%) 35. Services Controlled .24) 41.84 1.58) 1.70) 0·74 3·77 (3-22) 1.2011 Notes Particulars Change in the Benefit Obligations: Liability at the beginning ofthe year Less: Adjustment Liability at the demerger Interest Cost Current Service Cost Ben eftts Paid Actuarial Loss Liabilityatthe end oftheyear due to demerger beginning of the year after 2010-11 38.24) 2·98 43.18 Portfolio with Mutual Fund Others (including bank balances) Total - Fair Value at the beginning dernerzer Expected Return on Plan Assets Contributions Benefits Paid Actuarial gain/(Ioss) on Plan Assets: end oftheyear 36. 2.63 guaranteed by State/Central Govern ment Public Sector/Financial Institutional Bonds 7.27 (3.27 2·73 Sr. IN RESPECT OF JOINT VENTURE List of Joint Ventures: Description of Interest (Description Proportion of 3.11 of job ) ownership interest 1. Name of Joint Venture No.41) (0.ARVIND LIMITED forming part of the Accounts (~In Crores) Principal Assumptions: Particulars Discount Rate Return on Plan Assets INVESTMENT Particulars Central Government State Government PATTERN: ANNUAL REPORT 2010 . AryaOmnitalk Wireless Private Limited Jointly Entity 50% India India Solutions Controlled Murjani Jointly Private Controlled Entity Brands Jointly Controlled Entity Radio Jointly Entity India India 40% India India India India of the Liability in the Balance Sheet: 2.61 0.08 Nil Fair Value of Plan Assets at the end ofthe year Amount recognized in the Balance Sheet under in the Profit and Loss "Provision for Retirement Benent" Expense Recognized Account: Interest Cost Current Service Cost Expected Return on Plan Assets Net Actuarial loss to be recognized Expense recognized in the Pront and Loss Account under"Employee Reconciliation Recognized Emoluments" 16.70 % Invested Previous Year 0.16 FairValue on Plan Assetsatthe Total Actuarial Loss to be recognized Actual Return on Plan Assets: Expected Return on Plan Assets Actuarialgain/(Ioss) on Plan Assets 4·01 0. the long-term estimate ofthe expected rate of return on fund assets has been arrived at.51 90.16 Actual Return on Plan Assets Amount Recognized in the Balance Sheet: Progress billings Due from customers Due to customers DISCLOSURES (a) Liabilityatthe end oftheyear 38.68 36-32 0·74 2. Country of Incorporation Residence 3-00 (2.21 3.63 3.11 (5.47 (1.85 34.28 0.72 3·77 (3.22 (0.31 5.61 43.32 3.31 41. No.63 36-32 2-31 C D 0. (3-67) 1.18) 2-31 3- VF Arvind Private Limited Arya Omnitalk Trunking Private Limited recognized in the Balance Sheet under "Provision for Retirement 4· 50% Based on the above allocation and the prevailing yields on these assets.41) 1.15 2·73 (%) 7-75-8 8 8-8. Arvind Brands Limited 50% Opening Net Liability Expense Recognized Contribution Amount by the Company Benents" 2.06 86.70 3.31 % Invested Current Securities Securities/Securities Year 0.85 5.00 0.69 1-35 11.85) 3. 1.90 0-47 32-43 2.09 Nil of contracts in progress at the reporting date and recognised losses up to the Particulars IN RESPECT OF CONSTRUCTION/JOB Fair Value of Plan Assets: Fair Value of Plan Assets at the beginning of the Ivear Less: Adjustment 36.32 dueto demerger of the year after 32.68 4-38 2010-11 4·01 2009-10 0.62 100 WORK 3-00 (3-67) 2-42 38.70 1.84 15.25 8 38.77 0-41 100 DISCLOSURE CONTRACTS (~in Crores) Sr.21 3.

Notes (b) Sr.80 (12.62 (NA) 5.2011 Minimum lease payments Future Minimum lease payments Present Value of Minimum Payments (~in Crores) Interest and Other due 0.01 As at 31st March 2011 (As at 31stMarch 2010) 1. no sub lease ofthe building and having an escalation clause for increase in lease rental by lS% after every 3years.19 38-41 S·06 12-37 8. showrooms and other facilities.17 (NA) 5.41 one year and not laterthan five years Particulars as on 31.80 30. The particulars ofthese leases are as follows: (~in Crores) 2009-10 7S·38 4·S1 21·91 48. Sales Tax and Service Tax~ 0.SOO/-). forming part of the Accounts Entity: (~in Crores) The particulars ofthese leases are as follows: (~in Crores) 2009-10 60. Arya Omnitalk Wireless 2010-11 (2009-10) one year and not laterthan five years 16.10 0.03. No.02 0. The particulars ofthese leases are as follows: Particulars as on 31.64 OA6 NIL oAo NIL .10 0.36) 4°·26 (27.03. 1.88 6·53 51.02 Crores) and ~ 0-44 Crores (~Nil) respectively. The particulars ofthese leases are as follows: (~in Crores) 2009-10 S7·66 14.60 financial one year and not laterthan five years Laterthan five years Lease Payment Account (D) Plant & Machineries .24 (12.09) Later than five years Lease Payment Account (C) recognized Solutions 2.42 (11.26 Crores). The above figures are considered statements of the respective based on unaudited Controlled Jointly Entities except Equipments have been acquired under Finance Lease fora period of 33 months with the option of renewal.2010 Laterthan five years Lease Payment Account (B) Plant and Machineries recognised Future Minimum lease payments are taken on operating lease for a obligation: Not laterthan one year Later than one year and not later than five years Later than five years period of Sto 8 years with the option of renewal.71) 14.10 Particulars Future Minimum non-cancellable Not laterthan Laterthan lease payments obligation operating leases: one year on 2010-11 23.13 Crores) Disputed Demand in respect of Income Tax.82 (8-48) 15. Arvind Private Limited Murjani Brands 23. (iii) (iv) Note: Capital commitments Counter ~ O.60 Crores).42 (NA) 2. ~ 0.06 NIL for Arvind Murjani Brands Private Limited the figures of which are based on audited financial statement.30) 11.Sl Crores (~0.60 obligation: Not laterthan one year Later than one year and not later than five years Later than five years Particulars Future Minimum non-cancellable Not laterthan Laterthan lease payments obligation operating leases: one year on 2010-11 100.04 0.23) 2010-11 lease payments obligation operating leases: one year 21·97 71.92 7·66 16.18 (NA) Company's share in: (i) (ii) Contingent Liability in respect of guarantee given by Bank ~ 2.32 43·03 in Profit & Loss 6. holding company ~ 107. LEASE RENT: (A) Factory Building is taken on lease period Of18 to 20years with no option of renewal.83 on 124.41 (13. 17.96 S·7° lease Charges not OA8 OA8 NIL NIL Minimum lease payments OA6 OA6 NIL NIL Present Value of Minimum lease Payments 1. Excise Duty.02 (~0. Such leases are generally for a period of 11 to 108 months with the option of renewal against increased rent.71 (84·77) 120.24 in Profit & Loss 16. ~ Nil (~7.20) 77.64) 36.26 Crores (~0.41 (16.00 0.7° (78.02 NIL NIL Interest and Other Charges notdue 0.22) Rent expense includes lease rental payments towards office premises.90 (26·75) Private Limited 3· VF Arvind Limited 4· Arya Trunking Limited Omnitalk Services Radio Private Brands Private 77·33 (72.11 Guarantee given to ultimate Crores (~69.10 Crores (~Nil).88 10·S8 3S·oS lS·2S 8·94 Company's share of Assets Liabilities Income Expenses Financial interest in Jointly Controlled Name of Joint Venture Particulars Future Minimum non-cancellable Not laterthan Laterthan 14.59) 114·74 (88.Data Processing recognized in Profit & Loss 7.

Interest payable atthe end ofthe accountingyear.3 on Particulars Future Minimum Not laterthan Laterthan lease payments under noncancellable operating leases: one year 2010-11 0.03 0.22 0.39 194·59 134·80 0.89 DUES Forthe Year oA9 0-35 As at 31-03-11 lAl 4. Figures in bracket represent outflow of cash.19) 329.02 OA6 0.17 82. 4.03 one year and not laterthan five years 0. (b) (c) (d) Interest paid duringtheyear. one year and not laterthan five years SEGMENT (A) REPORTING Segment (Business Segment) (~in Crores) 2009-10 Laterthan five years Lease Income Account Other Disclosure: recogn ised in Profit Primary 2010-11 Revenue 2609. 0.63 2. Cash and Cash Equivalents includes ~ 5.18 As at 0·92 3. NOTES TO CASH FLOW STATEMENT 1.89 0. Such operating lease isgenerallyfora upto 36 months.96 any intimation the Micro.03 NIL NIL & Loss 0.2011 Notes (E) Rent Income includes Lease Rental received towards Plant and Machineries.61 NIL NIL & Loss 0. The particulars ofthese leases are as follows: (~in Crores) 2009-10 0·53 period The Cash Flow Statement "Indirect Method" Cash Flow Statements Standards) Rules.04 Work 2009-10 oAS 0.24 Total Segment 31-03-11 31-03-10 Less:1nter Segment Revenue Net Segment Segment Revenue Plant and Machineries Office Buildings 18.02 2691.18) (5.12 0.22 Segment (~in Crores) a) b) c) Textiles Others Unallocable Revenue 2217-00 99.04 Laterthan five years Lease Income Account (F) recogn ised in Profit Out of Pocket Expenses Cost Auditor .00 134·80 203.70 21.00 52. Segment Results before Interest and Finance Cost from suppliers Medium disclosures a) b) c) Textiles Others Unallocable Results 335·76 (1.20 Crores) notavailablefor use by the Company.00 2691. has been prepared by Companies under the (Accounting as set out in Accounting notified Standard .19 2010-11 0.61 0.07 AUDITORS' REMUNERATION: (~in Crores) Statutory Auditors 2010-11 0·45 0.00 2316.00 0. from the . 2006.01 2316. and 2006 Small and hence Development (6A8) 207A7 lSSA7 52.89 Class of Asset given on Lease Gross Block As at 31-03-10 Depreciation Fund As at 4·70 21.99 9.Cost Audit Fees 20. Such operating lease is generally for a period of 5 years with the option termination of renewal on mutual of agreement through consent and premature agreed notice period. The particulars ofthese leases are as follows: (~in Crores) 2009-10 NIL NIL NIL NIL 0. ANNUAL REPORT 2010 .00 to suppliers as at the end of Total Segment accountingyear.ARVIND LIMITED forming part of the Accounts 19. The Company is making efforts to get the confirmations suppliers as regards their status under the Act. and Less: Interest & Finance Cost Profit from Ordinary Activities Extra Ordinary Items (Net) Profit before Tax Interest accrued and unpaid atthe end ofthe accountingyear have not been given.77 Crores (Previous Year~ 6. 30·53 NIL NIL 0·53 Particulars 21.18 Results MICRO & SMALL ENTERPRISES The Company regarding Enterprises regarding: (a) Amount due and outstanding their has not received status under Act.10 0.03 0.88 0.06 AsAuditors In Other Capacity Tax Audit Matters Taxation Matters Company Law Matters and Other Services including Certification Particulars Future Minimum Not laterthan Laterthan lease payments under noncancellable operating leases: one year 0.42 0.02 Rent Income also includes Lease Rental received towards Office Building.

33 109.80 85·85 1372.22 4157.26 389.00 180·77 Total Notes: 1.83 4259.16 132.Notes Particulars forming part of the Accounts (~in Crores) (B) Particulars Secondary Segment (Geographical by Customers): (~in Crores) 2010-11 2009-10 Other Information Segment Assets a) b) c) Textiles Others Unallocable 2010-11 1548.89 28. Services. Fabric and Garments : EPABXand RAX Systems (Electronic Division).06 4259.91 0.86 2706.57 84.26 37-48 0.the Organizational structure and internal reporting system. Branded Garmentsand Construction business Revenues are recognised at sales price. a) b) In India Outside India Total Assets Segment Liabilities a) b) c) Textiles Others Unallocable Total Sales Carrying Cost of Assets by location of Assets a) b) In India Outside India Total Addition to Assets a) b) In India Outside India Total Liabilities Segment Depreciation/Impairment a) b) c) Textiles Others Unallocable 180·77 0. Total Non cash expenses other Depreciation .T.62 108-39 1-34 4.59 2316. Intersegment 2.89 3660.03 29·79 34. differential risks and retu rns.04 than 6. Types of Products and Services in each business segment: Total Capital Expenditure Non cash expenses other than Depreciation a) b) c) Textiles Others Unallocable Textiles Others : Yarn.91 4.25 1142.07 113.80 453.02 4·88 43·87 180·77 1. Total Depreciation/Impairment Capital Expenditure a) b) c) Textiles Others Unallocable The Company has disclosed business segments as the primary taking into account the segment.07 3745.24 0.24 37-48 0-42 0.25 1·49 5. I. The Company's operations predom inantly relate to man ufactu ri ng oftexti les.42 116.71 2009-10 1273-30 1043.00 15.65 61·79 651.69 3745.00 0. Segments have been identified nature ofthe products.71 560.97 2691.00 37-48 Segment Revenue 2801.88 101.02 0-44 3.00 77-19 962.80 22.

72 10.68 22.42 S.88 1.88 6.77 293.66 9·S4 6g.0..33 17.83 0.24 1.51 1.19 6. Son of Chairman and Managing Arya Director Omnitalk Radio Turnking Services Private Limited Arvind Bsafal Homes LLP Murjani Brands Private Joint Venture (C) Arya Omnitalk Wireless Solutions Company under the control of Key Managerial Personnel (D) Aura Securities Private Limited Properties Limited') Arvind Worldwide Arvind Worldwide Inc.64 184.97 42.09 Note: Related Party Relationship 17.02 19. Chairman and Managing Director Shri Jayesh K.00 14.40 0. Mauritius Arvind Overseas (M) Limited Mauritius Arvind Spinning Limited Mauritius Arvind Textile Mills Limited Bangladesh Ahmedabad East Infrastructure Related Party Transactions: Nature of Transactions Purchases Goods and Materials Fixed Assets Sales Goods and Materials Fixed Assets Expenses Receiving of Services Remuneration & Other Services Others Income Rendering of Services Interest Income Others Finance Lease Rent Income Loan Given/(Repaid) (Net) Interest Expense Lease Rent Expenses Guarantees 8< Collaterals Investments (Net) Outstanding: Receivable in respect of Current Assets & Capital Advances Payable in respect of Current Liabilities Receivable/(Payable) in respect of loans LLP is as identifted by the Company and relied upon by the Auditors.Shah. Lalbhai.20 17·S' 0. the related are as follows: List of Related Parties 8< Relationship: Subsidiary Companies (A) Asman Investment Limited Arvind Products Limited The Anup Engineering Limited Arvind Retail Limited Arvind Lifestyle Brands Limited Arvind Accel Limited Svntel Telecom Limited Arvind Infrastructure Arvind (Formerly Brands and known Limited Retail as Limited Silverstone Key Management Personnel and relatives (B) Shri Sanjay S.00 0.07 n. Son of Chairman and Managing VF Arvind Brands Private Limited Director Shri Kulin S.S6 178.82 0.00 0.36) 0. 2006.2011 Notes 22. USA (M) Inc.09 12.09 (1.00 .20 0.20 19.65 21·SS 14.64 3. Lalbhai.98 0.~1 S. Lalbhai. Director & Chief Financial Officer Private Limited Arvind Limited Shri Punit S.ARVIND LIMITED forming part of the Accounts Standard on "Related Party Disclosures" (AS 18) notified by Companies ANNUAL REPORT 2010 .52 14·'S 4·20 (0.87 0.00 0.88 1.2.4 175.8s 4. 14S. (~in Crores) Referred in 1(A) Above Referred in 1(B) Above Referred in 1(C) Above Referred in 1(D) Above 200g-1O 200g-1O 200g-1O 200g-1O 2010-11 2010-11 2010-11 2010-11 83.29 60.19 196.80 0.19 308. '·S4 17.12 2S7.16 190.80 0.10) 3.00) (1.86 3.1.10 ~6.8g 82. RELATED PARTY DISCLOSURES As per the Accounting parties ofthe Company (Accounting Standards) Rules.

of which are as follows: the Company has formulated Employee Stock Option Scheme (ESOS 2008).12 1. of Shares for Basic EPS No.07 (~in Crores) Options Granted duringthe Options Lapsed duringtheyear Options Exercised duringtheyear Options vested but not exercised at end of year Options not vested at end of year (A) Reconciliation of Profit for the year. U5A Limited Weighted average number of Equity Shares 2010-11 2009-10 No.65 0.11 225191240 b) Intrinsic Value Method has been used to account for the employee share based payment plans. Through allotment of one Equity Share for each option granted.45.000 ~14. 219.24 2.00 4. 239200568 plans ESOS 2008 is as 239353175 246687525 Particulars 10 5·64 5·63 2010-11 at start of year year 2009-10 27. 2013 Exercise Period Within 3 years from res pect ive vest ing. The intrinsic value of Particulars Profit available to Equity Shareholder Weighted average no.2008 be as under: 25% on April 30.29 6-47 0.01 5-38 6-47 0.000 Nil Nil ~ ~ ~ 10 Options Outstanding 26.000 ~14·65 Thevestingwill ESOS2008 October 25. each stock option granted under the ESOS 2008 plan is ~ Nil since the market price of the underlying share at the grant the cost) is ~ Nil. the features Arvind Accel Limited Arvind Textile Mills Limited.12 Retail as Limited 1.21 2.05.27 2.65 ~14·65 Profit fortheyear Convertible Weighted Average Exercise Price per Option d) The Black-Scholes-Mertons Less: Dividend on redeemable cumulative Preference Shares Less: Tax on Preference Dividend Profit/CLoss) available to Equity Shareholder Option Pricing Model have been used to derive the estimated value of stock option granted if the fair value method to account for the employee share based payment plans were to be used.000 Nil 1.50.00 4.500 Nil 2.32. 2010 25% on April 30.00 0. 2012 25% on April 30. The estimated value of each stock options and the parameters the estimated Scholes-Mertons used for deriving under Blackvalue of Stock Option granted Option Pricing Model is as follows: .02 7·54 0.72.25 24.00 0.000 Nil Nil 23.01 8.76 0. Inc.13 51. 2011 25% on April 30. the date of Properties Limited) Total Note: 1. 23.50. of Equity Shares for Basic EPS Weighted average no.01 1. of Equity Shares for Diluted EPS Nominal value of Equity Shares Basic Earning per Equity Share Diluted Earning per Equity Share Nos. of Shares for Diluted EPS after considering Potential options equity shares to be converted from stock warrants and dilute effect of outstanding 239200568 225191240 239353175 246687525 Closing Maximum Balance Outstanding 7-91 158-33 32. EARNING PER SHARE (EPS) 2010-11 ~in Crores 2009-10 51.11 2. EMPLOYEE SHARE BASED PAYMENT a) During the year 2008-2009.25 Silverstone 7-91 159. date was same as the exercise price and consequently accounting value ofthe option (compensation c) Further details of the stock option follows: 134·80 Nos.34 229·83 No repayment schedule has been fixed in case of above mentioned Loans & Advances in the nature of loans given to Subsidiary Method of settlement Companies and some ofthem are interestfree.00 134·80 2009-10 52.98 32. usedfor calculating Earning per Share before Extra Ordinary Items non- 2010-11 134·80 0.05.500 26.Notes forming part of the Accounts (~in Crores) (B) Loans & Advances in the nature of Loans Name of Subsidiary Arvind Overseas (Mauritius) Asman Investments Limited Arvind Products Limited Arvind Worldwide Arvind Worldwide (M) Inc. Bangladesh Arvind Lifestyle Brands Limited Arvind Retail Limited Syntel Telecom Limited Arvind (Formerly Brands and known Scheme Date of Grant Number of options granted Exercise Price per option Date ofvesting 27.

DEFERRED TAX In terms "Accounting (Accounting depreciation.04 5·64 5·604 2. Sundry Creditors and Loans and Advances include certain accounts which are subject to confirmation/reconciliation and consequential ascertainable. InMn Rate ~in Crores ~in Crores 264-76 3-58 0.Vesting on April 30.81 0. 26.28% 3.proforma 25.63 0 106.26 14·65 14·65 0.00 0.28% S·02 7·6S% 2013 8. 2010 6.oS 14·6S 14·6S S4-46% 0. deferred ANNUAL REPORT 2010 .81 0. the effect of which is not Estimated Value of Stock Options (~) Share Price at Grant Date (~) Exercise Price (~) Expected Volatility (%) Dividend Yield Rate (%) Expected Life ofOptions(inyears) Risk Free Rate of Interest (%) S8·74% 54·53% no% e) Had the compensation the Company's cost for the stock options granted on fair value approach. DISCLOSURE IN RESPECT OF PROVISION FOR DISPUTED MATTERS The Company had made provisions for pending disputed matters in respect of Indirect Taxes like Sales Tax.28% 4·01 7·61% 2012 8. CATEGORY-WISE due to Demerger (proforma) Earning Per Share . 2006.(Diluted) .02 27. there long term as well as short term Loans currency in foreign is no unhedged exposure asset on account business losses and unabsorbed but as the Company is net foreign . In compliance on General with provisions Prudence.5309 0 48. Sundry Debtors.64 14·6S 14·6S 0.ARVIND LIMITED forming part of the Accounts ESOS 2008 .00 0.76) SO-3S Add: Provision made Less: Provision reversed Less: Adjustment Closing Balance 28. there is a net deferred The Company has borrowed in Foreign currency surplus currency.5508 1259. the quantum whereof will be determined and when the matters are disposed off. while preparing the accounts ofthe year under review. InMn Forward Sales USD EUR GBP Forward Option Purchase Deals USD USD Rate As at 31st March.00 0.68 54-30 47-8081 0 70-4105 47-7926 48-4343 556. under ESOS 2008 been determined been as per proforma net loss and earning per share would have amounts indicated below: (~in Crores) Particulars Net Profit AfterTax as reported Less : Amortisation (proforma) Net Profit considered for computing EPS of Compensation Cost 2010-11 134·80 (0. Excise Duty and Custom Dutyin respect of Branded Garment Divisions.75) 134·05 2009-10 Sl.00 0.proforma Earning Per Share .80 47-5598 64.2011 Notes Particulars tax asset nor written back excess deferred tax liability.(Basic) .27 2. the liabilityforwhich may arise in the future.11 (0.00 2.28% 6.0061 74. Company.07 2.00 QUANTITATIVE DATA (~in Crores) 2009-10 2.66 14·6S 14·6S S3-71% 0. 2011 Avg.24 DERIVATIVE INSTRUMENTS OUTSTANDING Particulars Currency As at 31st March.50 5.00 ABOUT as adjustments if any.Ex.as reported .00 0. 2010 Avg.01 7·S7% 2011 7. Indirect Taxes Particulars Opening Balance 2010-11 0. Ex. the of Accounting Company Standard and based recognised the has not of the for provisions of the Accounting notified Standard-22 by Companies tax 5·63 5·601 2.89 4-70 0 518-52 0 1.18 116-47 22.as reported .84 0 10·55 27-16 263-00 Taxes on Income" of accumulated Standards) Rules.

forming part of the Accounts 32.23% of cloth shown in opening stock.10 Crores (0.69 Crores (0. Net of Internal Consumption @Semi Processed Goods meant for Sale. LALBHAI Chai rman & Managi ng Di rector JAYESH K. SHAH Director & Chief Financial Officer R. The Company falls under the category in the notification regard to than 20% of the turnover).32 0. VALUE OF IMPORTS (~in Crores) 2010-11 48·58 66·54 55.92 69-47% 37-30 100% 2009-10 37-09 3-76 1.29 86. Nil Nil Nil hence the Board of Directors non disclosure In view of above.N. information. Firm Registration No.76 80·97 ACTUAL PRODUCTION Class of Goods Cloth * Cloth ** Yarn *** EPABX Garments**** Yarn@ Grey@ Grey@ Meters Kgs Kgs Lines Pcs.06 (44331) 2009-10 Quantity in Crores 12. beingatechnical For Sorab S.resident shareholders to whom remittances were made Amounts remitted ~ EARNING IN FOREIGN EXCHANGE were made Numbers of shares on which remittances N. The Company is exempt from the licensing provisions of the Industrial (Development 2. D.19 0.89 14·97 57.80 CONSUMPTION SPARES 2010-11 Raw materials Imported Indigenous Total 67·53 5. New Delhi has issued notification 8. 116 1162 200000 13120000 As per our report attached 1. BHIMANI Company Secretary be shown separately.95 Crores (0-39 Crores) Meters of 0. production & closing 1222.06 0.68 Crores) Kgs outside the Company of (7A78) Pcs. V. & Regulation) Act.08 0.21 0. 3 (ii) of Export Oriented is more has above has not S. 2011 granting exemption from Act. by Job (~in Crores) produced workers.) Notes: 2010-11 72872 5472 0 2009-10 80644 5472 678 116 931 200000 12400000 37.08 (38008) (a) (b) (c) Interest Commission Professional and Consultation Other Matters Fees 33.Notes 29.25 Crores) Kgs of 0. Kgs Meters Kgs Cd) Total 34. Ministry disclosure of Corporate requirements Affairs. Installed Capacity is as certified by the management and relied upon by the auditors. 3 (ii) (a). matter. Note: Quantity stock is packed cloth onlyand does not include lcose ftnished cloth lying in folding! stamping department.02 1. Unitof Quantity 2010-11 Quantity In Crores 13·82 0.21 100% Raw materials 133-44 13·77% 835.58 0.22 2009-10 6·53 49.08 11.01 0. Previous year's figures are shown in brackets and are regrouped or recast wherever necessary to make them comparable with those of the current year. Anklesaria Partner Ahmedabad. disclosed the said information INSTALLED CAPACITY Particulars Spindles Rotors Stitching Machines KnittingMachines Looms EPABX/RAX System Lines Garments (Pcs.A Nil Nil Nil of Schedule VI of the Companies (whose export of the 1956.04 1. of paragraphs 3 (i) (a). 30. Year to which the dividend relates Number of non.87 0.32% 76.23% 968. Spares 15·76 20.73 100% OF IMPORTED RAW MATERIALS 2009-10 Spares 11-38 30. Engineer & Co. Signaturesto Schedules 1to 16 SANJA Y S. 301 (E) dated February (b) and 3 (ii) (d) of Part-II Company given as defined with REMITTANCES IN FOREIGN CURRENCY ON ACCOUNT OF DIVIDENDS 2010-11 2009-10 N.O.71 AND (a) (b) (c) Capital Goods Dyes & Chemicals.53% 25. consent mentioned 31. (a) (b) (c) (d) 36.02 1. EXPENDITURE IN FOREIGN CURRENCY (~in Crores) 2010-11 32. 2011 .000. 1951.77% 1290. which are requiredto have been shown as actual in brackets. * Net of internal consumption ** Net of internal consumption *** Net of internal consumption **** Includes Garments of 0. Stores and Spares Parts Raw Materials & Accessories C. the Company in the fi nancial statement.68% 60·45 79. 38.I. l10417W Chartered Accountants CA. zoth May.A.F.91 15·77 60.15 100% 35.62 94.29 0. Export of goods on FOB basis Figures less than 50.

(ITC Code) S2094200 Product Description Denim Woven Fabrics of Cotton Item Code No.031 S·64 S·63 Nil Total Expenditure Profit after tax 5 Generic Names of Principal Products.oSS.S44. (ITC Code) Item Code No.2-0-4-. 2011 R..411 .71 36 Sources of Funds: Paid up Capital Reserves & Surplus Secured Loans Unsecu red Loans Deferred Tax Liability 2. (ITC Code) 62034200 620S2000 Product Description Product Description Mens/Boys Trousers/pants & shorts Mens/Boys shirts SANJAY S. V.S48 1.093.761 Nil Difference Account Net Current Assets Miscellaneous Expenditure 4 Performance of Company: (Amount in ~ Thousand) Turnover Profit beforetax Earning per Share .237 Application of Funds: Net Fixed Assets Investments Foreign Translation Currency Monetary Item 21.22S 3 Position of Mobilisation and Deployment of Funds: (Amount in ~Thousand) 1Total Liabilities 1 3 .348. Balance Sheet Date 2 L17119GJ1931 PLCo00093 31. 4.890 (7.03-2011 1 State Code Capital Raised During the period: (Amount in ~ Thousand) Public Issue Bonus Issue Nil Nil Right Issue Private Placement Nil 224.S-7---.ARVIND LIMITED TOTHE COMPANIES ACT. zoth May. LALBHAI Chairman & Managing Director JAYESH K.632.290 488.41S 3.442.113 17.Basic (~) Earning per Share -Diluted (~) Dividend Rate 26.2011 STATEMENT PURSUANT TO PARTIVOFSCHEDULEVI Balance Sheet Abstract and Company's General Business Profile: Registration Details: Registration No. BHIMANI Company Secretary .67S.932 128.-.S771 6 20 rl T-o-t-a-I A-s-se-t-s_. Services of the Company: Item Code No._-----------r------. (ITC Code) S2080000 Product Description weighting not more than 200gjm' Item Code No. SHAH Director & Chief Financial Officer Ahmedabad. 19S6 ANNUAL REPORT 2010 .00S 1S.489) 11.

6. These Financial Statements been audited by other auditors whose reports have been furnished to us and our opinion. examining on amounts and disclosures in the Investments in Subsidiaries in Separate Financial financial statements. statements (Accounting Rules. ENGINEER &CO. revision arising out of it in other of Chartered has measured all its Fair Values or Standard (AS)-13 on Standard (AS) . These Standards require that we plan reasonable assurance whether in all material respects. the holding company Cost. As mentioned adoption Standard ForSORAB S. in so far as it relates to the amount included in respect ofthese other auditors. a test basis.29 Crores. evidence supportingthe principles used and significant An audit includes. subsidiaries. Our responsibility is to express an These consolidated the Company's conducted and perform accordance reasons stated in Note No. (b) the Consolidated audited financial statements and explanations given to us. 14 of schedule 17 in respect of early Limited (Holding Company) of Accounting Recognition and Ahmedabad. 110417W Chartered Accountants effect on the attached Consolidated S· in Note No. and on individual of the separate audit reports of ~ 231.30 on 'Financial . 1. for Investments' Accounting Financial Assets and Liabilities at their Arvind Limited and its subsidiaries and Joint Ventures ("Arvind Group") (excluding 3 subsidiaries forthe Loss Account and also the Consolidated theyearthen 2. Hadthe Company followed (AS)- 11and (AS) -13 in their entirety.72Crores for the year then ended which were prepared has been consideredforthe purpose of consolidation and accepted view of the consolidated ended. as We believe that well as evaluating the overall financial statements.S1 Crores as at gist March 2011and total Revenue of ~ 1S2. We have examined the attached Consolidated Balance Sheet of LIMITED ON THE Measurement' Accounting Accountants at Amortized 'Accounting and Limited Standards. 'Consolidated with reference to note mentioned notified by Companies Group Financial Statements in para Sabove and of Interests in Standards) financial are free of material misstatement. May 20. financial statements are the responsibility of management. 2011 Instruments: by Arvind CA. Accordingly.03 Crores respectively Crores respectively. ANKLESARIA Partner Membership No. in the consolidated 3· We did not audit the financial statements (before giving effect to the consolidation of seven Subsidiaries reflect total Assets have and two Joint Venture Entities whose financial statements adjustments) 7· On the basis of the information on the consideration opinion that: (a) the Consolidated the consolidated March. 102S0 (AS) . ended. N. D.2011.89 Crores as by the management. Standard (AS) 27. our audit provides a reasonable basis for our opinion. financial reporting Standard (AS) 21. issued by the Institute respective of India. The same of at 31st March 2011 and total Revenue of ~ 141. Profit and Cash Flow Statement for 3 of Schedule 17) as at 31st March 2011. We report that the consolidated Accounting Statements' Accounting financial statements have been of prepared by the Company in accordance and Accountingfor with the requirements and carrying value of Hedge Reserve would have been lower by ~ 31. is based solely on the report ofthe of three Joint Venture of the Arvind Group. as correct by us.01 Crores for the year then ended. An auditalso includesassessingtheaccounting estimates made by management. Firm Registration No. Any adjustment to their balances on completion audit could have consequential Financial Statements. in framework and the financial statements are prepared. ~ 2-41 Crores and ~ 3.89 opinion on these financial statements our audit in accordance the audit to obtain with an identified based on our audit.11 OF ARVIND LIMITED.the Consolidated and Accounting on 'The Effects of Changes in Foreign Exchange Rates' have been followed onlyforthosetransactions of Accounting which are not within the scope Standard (AS) -30.Auditors'Report TO THE BOARD OF DIRECTORS OF ARVIND CONSOLIDATED FINANCIAL STATEMENTS ITS SUBSIDIARIES AND JOINT VENTURES. We have with the generally accepted auditing standards in India. 'Financial Reporting Joint Ventures'. we are of the Balance Sheet gives a true and fair view of state of affairs ofthe Arvind Group as at 31st Profit and Loss Accountgives results of operations a true and fair of the Arvind 4· We did not audit the financial statements Entities whose financial statements the consolidation adjustments) view of the consolidated reflect (before giving effect to (c) Groupfortheyearthenendedand the Consolidated the yearthen Cash Flow Statement gives a true and fair cash flows of the Arvind Group for total Assets of ~ 101. 2006 and on the basis of the separate audited of the Arvind included financial statements. the carrying amount of Investments. Secured Loans and Unsecured Loans would have been higher by ~ 3.

23 0.51 34·50 501.77 181.63 Chairman & Managing Director . ANKLESARIA Partner Ahmedabad.93 Loan Funds Secured Loans Unsecured Loans Deferred APPLICATION Fixed Assets Gross Block Less: Depreciation/Impairment Net Block Capital work-in-progress Tax Liability (Net) Total OF FUNDS 3 4 2134.63 5 4072. ENGINEER & CO.22 58.88 2685·01 Investments Foreign Currency Difference Inventories Land Held for Sale Sundry Debtors Cash and Bank Balances Other Current Assets Loans and Advances Less:Current Liabilities Provisions Net Current Miscellaneous Assets Expenditure Liabilities and Provisions Monetary Item Translation Account (Note No.67 9 0.92 59. 2011 R.00 (To the extent not written off) Total Notes Forming Part of Accounts As per our report attached For SORAB S.65 103. Firm Registration Chartered No.06) Current Assets.2011 Consolidated Balance Sheet as at 31st March.03. SHAH CA. May 20. N.72 801.ARVIND LIMITED ANNUAL REPORT 2010 . D. 2011 ~ in Crores Schedule As at ~ in Crores As at 31.00 425.03. V.06 0. LALBHAI 3943-57 3512.88 1545·36 2431.21 57. 110417W JAYESH K.81 108·98 337·06 2279·08 8 685.08 10. Loans & Advances 7 1238.88 285. BHIMANI Company Secretary Director & Chief Financial Officer Accountants 17 SANJAY S.09 21·59 3943·57 2019. 15) 6 44·04 (1.99 1676.08 77·01 2211.64 13-44 3512.2010 31.2011 SOURCES OF FUNDS Shareholders' Funds 2 Share Capital Reservesand Surplus Minority Interest 254·40 1440·44 239·55 1043.87 2201.

21 8.80) 1.20) 0.09 (0.J\rVlnDI Consolidated Profit and Loss Account INCOME: Sales Less: Excise Duty Operating Income Other Income EXPENSES: Raw Materials and Accessories Consumed Purchase of Finished goods Employees' Emoluments Others Interest & Finance Costs (Net) Depreciation (Increase) in Stocks Profit before Taxes for the year Less: Current Tax Less: Deferred Tax Less: Fringe Benefit Tax Add: MAT Credit Entitlement Profit for the year Add: Excess Provision for Taxation written back Add: Prior Period Income/(Expense) Profit before Minority Interest Less: Share of Minority Interest Balance as per last year's Balance Sheet Add/(Less): Adjustment Net Balance Interim Dividend Paid on Preference Shares Tax on Interim Dividend Tax on Proposed Dividend Transferred Transferred Transferred Transferred to Capital Reserve . ANKLESARIA Partner Ah medabad.88 1599·79 440·36 394·78 1269·95 245.ll0417W JAYESH K.01 (8-77) 53.11 49·95 54-40 (1-37) 53.51) 0.Basic .06) 0.99 4021.06) (0.19) 0.13) (0. 24) .00 (31. Firm Registration Chartered NO.67 1038. 2011 R.89 6. D.92 6. 2011 ~ inCrores ~ in Crores 2009-10 3234-39 27-10 3207.06 3.20 82·92 82·92 82·92 2.45) 3951. SHAH CA.Pre-acquisition to Special Reserve to Capital Redemption Reserve from Debenture Redemption Reserve Profit on account of Consolidation/ De merger 16 12 13 14 5 15 10 11 fortheyear ended on 31StMarch.49 (171.70 (3-43) 3235.00 0.54 47-15 14·99 (12.69 172.00 0·90 254·64 254·64 254·64 6.18 1·99 Chairman & Managing Director Schedule 2010-11 4063. BHIMANI Accountants 17 SANJAY S.11 0.14) 53.69 1202. V.00 (19. May 20.21 89.86 271-39 341. ENGINEER & CO.13 0.10 172. LALBHAI Director & Chief Financial Officer Company Secretary .00 165·35 0·48 164·87 82.00 0.03 (0.00 (0.62) 165·35 0.46 3282.76) (0.89 Balance carried to Balance Sheet Earning Per Share ~ (Face Value of~ 10/-) (Note No.66 211.Diluted Notes Forming Part of Accounts As per our report attached For SORAB S.24 41.92 0.02 175·86 33.25 68·43 37. N.20 4126.29 53·94 21.00 (0.

14) (6.25 1Z·S6 (137.42) (0.12 (22.17) 36Z·o2 (67-49) (115.05) 0. D.81 (310-37) 19·94 39. Cash Flow from Financing Activities Issue of Equity Shares Redemption of Preference Share Capital Share Premium Received Issue of Warrants Interim Dividend on Preference Shares Tax on Interim Dividand Change in Borrowings Interest Paid Net Cash Flow from Financing Activities Net Increase/(Decrease) in Cash & Cash Equivalents Cash &Cash Equivalent atthe beginningofthe Adjustment due to Consolidation Period (213·2~) Cash and Cash Equivalent at the end ofthe Period Notesto Cash Flow Statement (Refer Schedule 17.23 (0·57) 0-30 0.76) (0.71 59.84) 59·65 0.09) 35.06) (17.00 0. Cash Flow from Investing Activities Purchase of Fixed Assets Sale Proceeds from Fixed Assets Changes in Investments Changes in Loans &Advances Income from Investments Interest Income (30·~2) 306·35 (250.15 Operating Profit before Working Capital Changes Working Capital Changes: Changes in Inventories Changes in Trade and Other Receivables Changes in Current Liabilities HO·S2 516. SHAH CA.49 0.17) 0.51) (9.10 0.13 0.06) 18·54 (165.53) (89.00 (0.23 (127-44) 13.10 0.86} Net Cash Flow from Investing Activities C. LALBHAI JAYESH K.80) 6.76) 112.81} ~ In Crores 2009-2010 47.00 (0.65 Chairman & Managing Director SANJAY S. ENGINEER & CO.00 0.12) 172.21 (16·46} 457·75 Net Cash from Operating Activities B.00 (19.51) 0. 110417W Accountants (169.ARVIND LIMITED ANNUAL REPORT 2010 . Firm Registration Chartered No.77) 14.13) 0.66 0.00 0. May 20.82 4·53 (22.2011 Consolidated Cash Flow Statement A. V.25) (6. 2011 ~ InCrores 2010-2011 175·86 172.96 (25-44) 4.Note 20) As per our report attached For SORAB S.45 (457.26) 232.52 1. 2011 Director & Chief Financial Officer R.50 7·57 (0. BHIMANI Company Secretary @J . N.91 0.00 (0.19 22.19) (15.2Z 474.56 (0.71 0. ANKLESARIA Partner Ahmedabad.19 0.89) (232.00 (30.00 59·65 58.70 (0.13 6. CASH FLOW FROM OPERATING ACTIVITIES Net Profit before extraordinary items Adj ustments for: Depreciation/Impairment Retrenchment Compensation underVRS Preliminary Expenses Interest Income Interest Expenses Incomefrom Investments Exchange Rate Difference Loss on Sale of Investments Bad Debts/ Advances Written Off Sundry Debit/(Credit) Written Off Fixed Assets Written Off Provision for Doubtful debts Prior Period Income / (Expense) Excise Duty Profit on Sale of Fixed Assets fortheyear ended on 31StMarch.84 259·59 Z6.13) (83.00 11.05 39.15 (0.83) 35°·Z9 397-94 Net Changes in Working Capital Cash Generated From Operations Advance Taxand Fringe Benefit Tax Paid (Net of Income Tax Refund) (1Z2·61) 336.61) 214.

77.268 Equity shares) allotted asfully paid in terms of scheme of Amalgamation WARRANTS NIL Warrants (Previous Year 2.12.each 254·40 PAID UP (Note NO.000 90.00 90.) 0.SOO/-) on forfeited shares) 254·40 (ofthe above shares 39A4.00.12.7) EQUITY SHARES 2SA3.o41 Equity Shares (Previous Year 4so.each 90.00. Paid up ~ 3.SOO/.000) Equity Shares (Previous Year of ~1of-each 360.00.00 450.20" SCHEDULE '.78A41) Of~lO/.o0.(Previous Year~ 4.19.19.03.': SHARE CAPITAL AUTHORISED 36.00.141 Equity Shares (Previous Year 23.00 254·40 23.2010 3'.each fully paid up Add: 900 Shares Forfeited (Paid-up amount of~ 4.99.000 36.03.Sched ules forming part of Consolidated Accounts ~ inCrores As at ~ in Crores As at 31.00 ISSUED & SUBSCRIBED EQUITY SHARES 2SA4.9So Eq uity Shares) by way of capitalization of Reserves and 16.00.00.00 360.000 Warrants of~ 15/-each.02.00 7-S7 254·40 239·SS .268 Equity shares (Previous Year16.9So Equity shares have been allotted as fully paid Bonus Shares (Previous Year 39A4.00 Preference Shares (Previous Year of ~100/.S41)Of~lO/.000) 90.00.7Seach) without payment being received in cash.

00 80.·65 5·79 305·86 33.10 1.02 37-48 720.00 0..00 80.20 0·90 24-52 56.80 69.15 80.2011 Sched u les forming ~ inCrores ~ in Crores As at 31.42 DEBENTURE REDEMPTION As per last Balance Sheet Less: Transferred REVALUATION to Profit & Loss Account RESERVE RESERVE (0.7) on account of consolidation 29·9' 0.20 254·64 '440·44 720.·67 20.50 751-52 6.65) 0.00 0.54 2.00 5·79 5·79 SPECIAL RESERVE As per last Balance Sheet Add: Addition duringtheyear BALANCE IN PROFIT AND LOSS ACCOUNT 0.00 69·50 SHARE PREMIUM ACCOUNT As per last Balance Sheet Add: Received duringtheyear Less: Utilised duringthe year (Note NO.08 21-32 0.29 0.40) 3.20" SCHEDULE '2' : RESERVES AND SURPLUS CAPITAL RESERVE As per last Balance Sheet Add: Addition duringtheyear Add: Adjustment (Note NO.00 82·92 1043.·89 RESERVE (Note NO.03..03 (0.50 758.00 0.14) As per last Balance Sheet Add: Addition duringtheyear INVESTMENT REVALUATION As per last Balance Sheet Add: Addition duringtheyear GENERAL RESERVE As per last Balance Sheet Add: Addition duringtheyear @Q] .11) 230·98 3.47) CAPITAL REDEMPTION As per Last Balance Sheet Add: Transferred from Profit & Loss Account 28·35 28·35 8.67 (106-41) 139.29 ('.50) 0.ARVIND LIMITED part of Consolidated Accounts ANNUAL REPORT 2010 .03.00 0.50) 49.11) 2-46 (1.00 0.67 0.70 19.67 (Note NO.2010 As at 3'.14) (.65) 4·94 3.25 7".70 33-29 (4.20 0.86) 0-36 (0.54 "·'3 73.13) RESERVE 0·90 0·90 0.93 As per last Balance Sheet Add: Addition duringtheyear Less: Utilised duringtheyear HEDGE RESERVE (Note NO.51 29·91 28-35 28-35 (0.00 0.06 0.00 29·97 CAPITAL RESERVE ON CONSOLIDATION As per Last Balance Sheet FOREIGN CURRENCY TRANSLATION As per Last Balance Sheet Less: Adjustment on account of consolidation RESERVE 69·50 0.

Sched ules forming part of Consolidated Accounts ~ inCrores As at 31.56 .00 FROM BANKS Cash Credit and otherfacilities Term Loans 979·04 934·78 1913.04 244.2011 ~ in Crores As at 31.26 220.26 917-30 856.74 1774.2010 SCHEDULE '3' : SECURED LOANS DEBENTURES 0.82 FROM FINANCIAL INSTITUTIONS AND OTHERS 220.03.68 21·75 39-44 73-38 5.87 & OTHERS 0.22 Crores) is payable within one Year 77·01 181.03.00 26·78 5·80 22.00 0.83 0·90 0·90 2134.08 2019.64 27-85 35.83 244.77 SCHEDULE' 4' : UNSECURED LOANS FROM BANKS Term Loan Other Facilities FROM FINANCIAL INSTITUTIONS DEFERRED ELECTRICITY DUTY INTER CORPORATE DEPOSIT Out of above ~ 41-44 Crores (~128.

ARVIND LIMITED part of Consolidated Accounts ANNUAL REPORT 2010 . LLI ::l C LLI c "-8 (JJ o ::J "-8 (JJ o ::J "-8 (JJ o ::J c "-8 (JJ o ::J '" '" '" '" oooo VI o ~ ::J U 1/1 :I ~ z .2011 Sched u les forming V1 .~L0~ -d- 'R N ~ -c o <V I!! LLI ~ C LLI '" '" '" UUU ::J ::J ::J V1 (JJ V1 (JJ V1 (JJ 1/1 -"" u ..S >< u:: :LIl ICJ 2 c ICJ 2 c ...~ o o N ci ~ 0 '8. ~ V1 C o .S .~ I« 0.S os os V1 V1 o -"" u 0 V1 V1 .S ltv u 1:: 2 ~~ c o c <V o ~. c.E CLCL <V Z :~ ~ u '" a: c. 00 c·~ ~ E~ c ~8 ~ c o o d 0 r--.

The financial statements therefore Investments and valued at Cost and of partnership firm are under compilation the balance of capital account disclosed above is subject to change.24 1·59 4·80 77·75 33.92 Others (Considered Good) [EJ .19 148.00 35.00 26-33 399·59 425.86 2.05 5. D.14 288·95 27-95 2.22 3·87 0.14 188·75 208. part of Consolidated Accounts ~ inCrores As at ~ in Crores As at 31.00 22. SCHEDULE '7' : CURRENT ASSETS. iii.81 6·77 366.51 8.2010 31.86 0.02 10.28 9. TRADE INVESTMENTS (AVAILABLE FOR SALE) Fully Paid Equity Shares (Quoted) ii.92 3.71 43-73 SHARE APPLICATION Less: Provision for diminution Note: * ** Previously classified as LongTerm unless otherwise stated.2011 NON TRADE INVESTMENTS .TO-MATURITY) GOVERNMENT SECURITIES (UNQUOTED) B.86 801.27 1238.23 0.00 49·37 451.69 136.18 77-44 33.71 44·04 0. INVESTMENTS IN SUBSIDIARY COMPANIES (Note NO.51 34·50 Land Held for Sale Sundry Debtors (Unsecured) Outstanding fora period exceeding six months Considered Good Considered Doubtful Less:Provision 49·37 3·78 3·78 0.85 501.3) Fully Paid Equity Shares (Unquoted) INVESTMENT IN PARTNERSHIP FIRM** MONEY in value of Investment 0.22 26-33 2.01 22.00 34. Fully Paid Equity Shares (Unquoted) OTHER INVESTMENTS Fully Paid Equity Shares (Quoted) Fully Paid Equity Shares (Unquoted) C.03.00 Stock-in-trade Raw Materials Finished Goods Finished Goods (Traded) Goods in Transit Work-in-Progress Project Work-in-Progressj Waste 33·53 2·45 1190.88 0.02 5. E.18 2.54 136.03.32 383.08 748. LOANS AND ADVANCES CURRENT ASSETS Inventories Stores and Spares Fuel 44.03 1.(UNQUOTED) (HELD.82 Material Work at Site 50.Sched ules forming SCHEDULE '6': INVESTMENTS* A.

08 1.91 7.82 (~ 42.14 1.2011 Sched u les forming ~ inCrores As at ~ in Crores As at 31.01 Crores respectively) With Banks outside India (In books of foreign subsidiaries) 0.732/-) lS·7° In Exchange Earners Foreign Currency A/c In Cash Credit Account In Savi ngs Accou nt In Fixed DepositAccounts (~23.68 28S·99 Advance Tax paid (Net of Tax Provision of~ 84.67 .18 (~ 4s.91 0.ARVIND LIMITED part of Consolidated Accounts ANNUAL REPORT 2010 .88 4S·90 281-31 1.10 In Current Accounts (including dividend accounts) 14·81 0. Good unless stated Otherwise) Loans & Advances Advances Receivable in Cash or Kind MAT Credit Entitlement Other Loans Receivable 224·76 60·48 43·84 329.) 1.02 1·S2 1.2010 31.81 0.11 S7·03 S9·6S Other Current Interest accrued Assets 0.15 8. LOANS AND ADVANCES Cash & Bank Balances Cash on hand Cheques on hand Bank Balances With Scheduled Banks in India ~ 0-33 Crores in unpaid (Contd.03.14 0.84 Crores.15 1.01 Crores lodged with Court for ESI case (~12-31 Crores and ~ 0. (~ 47-4S Crores)) 1676.00 Considered Doubtful Less: Provision Loans and Advances to Subsidiary Companies Considered Doubtful Less: Provision 7.03.00 7·98 337·06 2279·08 7-91 7-91 0.27 0.00 4.88 Other receivables LOANS & ADVANCES (Unsecured.2011 SCHEDULE '7': CURRENT ASSETS.00 200·S3 34.20 Crores lodged with Bank as Securityfor Guarantee Facilityand ~ 0.14 57.15 0.41 108·57 108·98 Considered 0-36 lO3·S2 103.08 9.24 31-32 (~0-33 Crores) 0.52 58.808/-) 34.

72 1063·87 69S·80 @ No amount is due as on 31st March.62 0.00 Retrenchment Compensation Year Year underVRS 0.00 0.00 672.67 10.68 lAl 0-33 0.81 1048.62 162·43 lS·73 0.00 Add: Addition duringthe Less: Adjusted duringthe [§5J .06 0·56 2·75 1.00 S26AS 140.72 Provisions Tax on Dividend Pension Gratuity Superannuation Leave Encashment Others 0.2011 ~ in Crores As at 31.62 1.06 oAS 2-30 0.19 10.Sched ules forming part of Consolidated Accounts ~ inCrores As at 31. The actual amountto be transferred to the fund in this respect will be determined on the respective due dates.Unpaid Matured Debentures -Interest -Interest on Deposits on Debentures Fund shall namely:@ 0·33 0.13 10.9) Interest accrued but not due on Loans Investor Education & Protection be credited bythefollowingamounts . 2011for credit to Investor Education and Protection Fund (Fund).00 0.23 0.15 68S·08 0.00 0.00 0.Unpaid Dividend .08 15.06 0.20 0.60 0.03 0.2010 SCHEDULE '8': CURRENT LIABILITIES & PROVISIONS Current Liabilities Acceptances Sundry Creditors -Dueto Micro and Small Enterprises (Note NO.00 0.06 0.10 6.07 0.00 0.17 1.00 0.18) -Others Other Liabilities (Note NO.31 211.03.19 0.03.09 0.06 10.23 0.00 0.06 0. SCHEDULE '9': MISCELLANEOUS (To the extent not written off) EXPENDITURE Preliminary Expenses Less: Written off duringthe Year 0.

2011 Sched u les forming SCHEDULE '10': OPERATING Processing Income INCOME ~ inCrores 2010-11 ~ in Crores 2009-10 12·77 28.52 Crores Previous Year~ 0.15 21.90 2·74 48.89 305·93 242.21 Crores) Profrt 0 n Sale of Fixed Assets (N et) Excess Provision No Longer required (Net) 30.01 13·74 111·79 Construction Contract Expense 66·53 9.71 Printing.19 9. Wages.80 Crores) Gain on Forward Contracts 27·47 68·43 SCHEDULE '11': OTHER INCOME Income from Investments From Trade Investments Other Income (Income Tax deducted ~ 0.09 Crores Previous Year~ 0.04 96.70 SCHEDULE '12': EMPLOYEES' EMOLUMENTS 344.59 253-08 83.81 1.19 14·73 27.65 0.25 4·47 0.53 28-30 7-25 338.ARVIND LIMITED part of Consolidated Accounts ANNUAL REPORT 2010 .15 1·43 41.11 12. Stationery and Communication Insurance premium Rates & Taxes Excise duty Rent .17 3·59 341.15 8·94 0.67 Salaries.71 37.78 Crores) Other Operating Income (Income Tax deducted ~ 0.28 Crores) Rent (Income Tax deducted ~ 0. Bonus and Gratuity Contribution to Provident Fund and Other Funds Welfare Expenses Directors' Remuneration 2·54 2·40 4·94 394·78 Directors' Commission SCHEDULE '13': OTHERS Power&Fuel Stores Consumed Processing Charges Repairs Building Repairs Machinery Repairs Other Repairs 2.18 5·08 10.21 35·84 9·79 389·84 302.08 3-42 0.46 0.12 1.84 6.00 9.73 13·75 65.05 Crores Previous Year f 0.36 79·68 250.20 9.70 Crores Previous Year~ 0.15 64.10 53·94 (Income Tax deducted ~ 0.22 0.61 0.

69 On loans for a Fixed Period Others Less: Interest Income Interest from Others (Income Tax deducted ~ 0.58 35.11 Crores) Net Interest Expenses Other Finance Cost Exchange Rate Difference 17·61 196·54 54·61 (6.00 (0.00 0.142 Other Expense Relatingto . Work-in-Progress and Waste Closing Stocks Opening Stocks Less: Adjusted against Securities Premium (Note No.04 (171.05) 245.60) 425-42 (3-42) (0.00 0.52 0.66 Royalty on Sales Freight.74 (171.19 0.23 0-30 0.01) Finished Goods.) Commission. 13) Less: Written off duringthe Add/(Less) :Adjustment on account of Consolidation/De Excise Duty in Value of Stocks -Increase/ (Increase) in Stock SCHEDULE '16': PRIOR PERIOD INCOME EarlierYear (Decrease) 0.00 0.93 1038.86 73-36 223-22 22.45) (3-432 I (EXPENSE) 0.15 149.Sched ules forming SCHEDULE '13': OTHERS (Contd.19 410.06 92.25 (23-52) 211.13 0.84 454.58 Crores Previous Year~ 2.91 36.00 0.07 0.96 34.04 merger 2.05 165·43 1269·95 69·92 12.23 428.16 214.20 1.84 20.1 nsurance and Clearing Charges Miscellanous LabourCharges Provision for doubtful debt/Advances Bad Debts/Advances Written Off Fixed Assets Written Off Loss on Sale of Investments (net) Directors Fees Other Expenses SCHEDULE '14': INTEREST Interest AND FINANCE COSTS (NET) 146·99 67.00 (28.02 0. Advertisement Brokerageand Expenses Discount part of Consolidated Accounts ~ inCrores 2010-11 ~ in Crores 2009-10 83.10 SCHEDULE '15': (INCREASE) IN STOCKS 582.10 0.91 21·34 59·60 33·45 30.09 48.26 200.49) Year 428.25 0.14) (0.

In this respect. Investments in such su bsidiaries are dassitted and valued as per Accou nting standard 30 . revenue items are Arvind Spinning Limited Arvind Textile Mills Limited Arvind Overseas (Mauritius) Limited and Arvind Spinning Limited consolidated at the average rate prevailing during the year. Arvind Textile Mills Limited has yet not commenced business from or operations. THE LIST OF have been included in segment to accordance with Accounting Financial Statements" Standards) Consolidated statements Joint Venture by the Institute SUBSIDIARIES INCLUDED IN THE notified CONSOLIDATED FINANCIAL STATEMENTS ARE AS UNDER: Rules. (ii) entities consolidated unless otherwise stated. after eliminating the unrealised proftts/losses of intra group transactions. (v) in a Foreign Currency Translation The subsidiary companies which have closed their business and disposed off entire undertaking and ceasedto operate as going concern basis have been excluded from consolidation as there are no material economic resources or obligations to be disclosed in case of such companies.21 on "Consolidated by Companies Accountants comprise (Accounting issued of India. (ii) The difference between cost to the Company of its INCLUDED CONSOLIDATED FINANCIAL STATEMENTS AREAS UNDER: investments in the subsidiary companies and its share ofthe in the subsidiary companies are made. 7 8 9 Principles (i) The financial statements together of the Company and its subsidiary 10 11 12 3· THE Arvind Lifestyle Brands Limited Arvind Retail Limited Ahmedabad East Infrastructure LLP LIST OF SUBSIDIARIES India India India NOT 99-75% 99-75% 100% IN THE companies have been combined on a line-by-line basis byadding like items of assets. Reference in these notes to Arvind Limited oranyofitssubsidiaries in the financial Asman Investments Limited Arvind Products Limited The Anup Engineering Limited Arvind Worldwide Inc. No. . income and expenses. at rates prevailing arising on 2. Arvind Worldwide (M) Inc. at the dates on which the investments recogn ised as Goodwi IIor Capital Reserve as the case may be. BASIS OF CONSOLIDATION PART OF CONSOLIDATED The Company's consolidated interest in the Joint Venture has been on lineto line basis byaddingtogetherthevalue of assets. liabilities. (iii) Minority interest in the net assets of consolidated to Sr. Company.50% Limited.2011 Sched u les forming SCHEDULE '7 : NOTES FORMING ACCOUNTS: r. and ceased to operate as going concern basis. Policies to the Consolidated The Notes and Sign incant Financial Statements better understanding are intended to serve as a guide for ofthe Group's position. obligations to be disclosed in case of such companies. have closed their business and disposed off entire undertaking. (iv) In case of Foreign Subsidiaries. Parent Company. Any exchange difference Reserve in the Balance Sheet. No.24% 100% 100% 100% 100% 100% 99. The the financial clarifications 2. balances and intra-group transactions and The intra-group un realised proftts or losses are fully eliminated.63% 53-66% 88. the Company has disclosed such notes and policies. 2006 and relevant of Chartered Financial Statements of Arvind Sr. is equity of the subsidiary companies. liabilities. Basis (i) TheConsolidated Financial Statements have been preparedin Standard .ARVIND LIMITED part of Consolidated Accounts (vi) ANNUAL REPORT 2010 . In view of above. income and expenses. Arvind Accel Limited Syntel Telecom Limited Arvind Infrastructure Limited Arvind Brands & Retail Limited (Formerly known as Silverstone Properties Limited) 95. Companies or Group shall meanto inciudeArvind and its Joint Venture statements. such subsidiaries consolidation as there have been excluded economic are no material resources All assets and Liabilities are converted translation is accumulated at the end of the year. Joint Venture accounts which they relate. which represent the needed disclosure. 1 2 3 4 5 6 Name of Subsidiary Limited and its subsidiaries and its Country of Proportion of Incorporation Ownership ason 31stMarch 2011 India India India USA Mauritius India India India India entities. Name of Subsidiary Country of Incorporation Proportion of Ownership ason 31st March 2011 100% 100% 100% 1 2 3 Notes: 1. Arvind Limited Overseas (Mauritius) Mauritius Mauritius Bangladesh subsidiaries consists of the amount of equity attributable the minority shareholders at the dates on which investments are made by the Company in the subsidiary companies and further movements in their share in the equity subsequentto the dates of investments."Financial Instruments: Measurement and Recognition" issued by the Institute of Chartered Accou ntants of India.

Accounting SIGNIFICANT ACCOUNTING POLICIES The Company financial the historical (a) revaluation Standard accounting accordance (A) follows the accrual method of completion is determined by the done that contract costs incurred forwork statements have been prepared (except till date bears to the estimated total contract cost.6) Revenue from job work services and Rental Income are recognized based on the services rendered in accordance with the terms of contracts. 1 Name of Joint Venture Country of Proportion of Incorporation Ownership as on 31st March 2011 India India India India India fees are recognised period ofthe contract. Revenue basis. excise duty & Sales Tax! VAT. sales are recognised when the gift vouchers or points are redeemed and the merchandise is sold to the customer. goods lying within the factory and bonded warehouse atthe end oftheyear. (B. when the property in the goods is transferred for a price. (A. when significant risks and rewards have been transferred and no effective ownership control is retained. stores.2) Retail sales and revenues are recognised on delivery of the merchandise to the customer. execution of which over different accounting periods.4· THE FOLLOWING JOINT IN THE VENTURE ENTITIES HAVE (A.l) The stock of Work-in-progress and Finished goods has been valued at the lower of cost and net realisable value.S) Revenue from or the store displays and sponsorships advertisements are are BEEN INCLUDED STATEMENTS: CONSOLIDATED FINANCIAL recognised based on the periodforwhich sponsors' displayed. Cost is measured on actual average forthe wholeyear. however. finished goods and stock at branches are valued at lower of cost and market value. on account of Insurance are accountedfortothe certain oftheir extentthe Company is reasonably ultimate collection. Excise duty wherever applicable is provided on finished (A-3) The property in the merchandise of third party consignment stock does not pass to the Company.7) Revenue in respect of projects for Construction Plants and Systems. generally accepted accounting revenue from the contract and the foreseeable REVENUE RECOGNITION (At) Sales and operating income includes sale of products. No.B) Claims receivable (AS) . The other raw materials. (B) on shipment (A. Division) consumables. principles generally accepted in India. have been prepared of revenues method nature. (AA) In respect of gift vouchers and point award schemes operated by the Company. based on passage of title to goods dispatch. Cost at their original depreciation of cost of and / revalued cost wherever comprises accumulated all costs . with local laws and applicable accounting standards/ necessarily to the involves making percentage of by the Company. The cost has been measured on the standard cost/moving average/FIFO basis as applicable and includes cost of materials and cost of conversion. to completion. in accordance for The with proportion Contracts.9) Dividend is accounted for as and when it is received.30' on 'Financial which have been measured at their fair value) and of the foreign subsidiaries principles. income from job work Sales services and gain or loss on forward are recognized which generally coincides with contracts. accordance with Accounting Standard 7. (A. Tangible Assets (Cu) Fixed assets are stated acquisition applicable impairment or construction less losses. be estimated with reasonable accuracy and conditions (A. by-products and waste. Sales are net of discount. the sale of such stock forms a part of the activities of the Company's departmental the gross sales values and cost ofthe merchandise are displayed separately in the profit and loss account. Facility management pro-rata overthe the products promoted/ Sr. sales tax and VAT are reduced from Retail Turnover. Difference profit/less between costs incurred in progress.2) All other materials inventories (Electronics of stores. relating some of which are of and the expected losses costs to completion. VALUATION OF INVENTORY from export sales are recognized Sales are stated net of returns. is recognised of completion method of on in Arya Omnitalk WirelessSolutions PrivateLimited Arya Omnitalk Radio Trunking Services Private Limited Arvind Murjani Brands Private Limited VFArvind BrandsPrivateLimited Arvind B-SafalHomes LLP 50% 50% 50% 40% 50% 2 is spread 3 4 5 5· the basis of percentage for Construction Percentage of accounting. (C) FIXED ASSETS & DEPRECIATION Since. (A. under the percentage plus recognised recognised losses and the amount invoiced cost convention so far as they relate to depreciation and under 'Accounting Recognition of fixed assets and providing and (b) items covered Instruments: on revalued amounts Measurement" The Accounts is treated as contract Determination of completion estimates in a technical completion. Export incentives are accounted on accrual basis can at the time of export of goods. The stock of waste is valued at market price. raw are valued at cost. if the entitlement precedent to claim are fulfilled. (B.

as existing has been provided at 20/2S%. (e. Available for Sale and Held-to-Maturity to Fixed Assets has been the meaning of Accounting 30 on 'Financial Instruments: Recognition and Measurement' read with the limited revision of Accounting 21on Consolidated (D. Value of License Brands and Brand Value have been amortized overthe period often years.have been fully depreciated basis.19) Patent/Knowhow period. Ministry of Corporate reserve account (C. (e.6) Directly projects identifiable of capital applicable.18) Software is depreciated its useful life of syears. de-recognition recognised in the investment impairment ofthe investments. over its remaining measured at subsequent recognised directly in Investment Revaluation Reserve At the time of disposal. (e.ooo/. previously account. investments are or asset's revised carrying amount.2) Investments provision indicate Financial Statements.9) Depreciation useful life. of depreciable as per the notification (e. (e. Affairs. For Subsidiaries (D. up to the date of launching new stores to the extent (e.2011 where it is probable that the future economic attributable where its value/cost can be reliably measured.3) Exchange rate gain or loss on foreign related to acquisition capitalized Delhi. INVESTMENTS For Arvind Limited (Du) Investments within are is depreciated over its useful validity are carried forward pending capitalization. over management estimate of in the ratio of revenue expected to be generated from these brands 2009 issued by Ministry of Corporate (CA) Depreciation on Revalued Fixed Assets is calculated on the residual life of the assets or as per rates specified in the Schedule XIV to the Companies Act. less accumulated impairment amortisation and losses. 2009 issued by the Affairs. Network Value and Vendors' on Straight Network Line basis (e.S) Additions to fixed assets have been stated at cost net of CENVATwherever (e. if and Current Investments.17) Job Workers' assets are being dated 31st March. Standard on additions provided on straight-line in Schedule XIVtothe where depreciation (e. (e.7) Depreciation under capital work-in-progress. An intangible asset is recognised.12) In the case of foreign subsidiaries. 19S6 whichever is higher. depreciation has in the year of purchase on pro rata classified as held for trading that have a market price are measured at fair value and gain/loss arising on account of fair valuation is routed through profit and loss account. or where applicable the .1O) Depreciation the notification on exchange rate difference capitalized on impaired asset is provided on the for impairment recoverable.8) Depreciation method atthe rates specified except for motor vehicles Companies Act. (e. (DA) Investments classified gains/losses as available for sale are rereporting on such dates to fair value. (e.14) Revaluation Reserve on Assets sold is transferred General Reserve. 19s6. that Branded Garment divisions has been provided at 10% & in case of Furniture given to Employees it has been provided at 18%. preoperative nature under expenses of new implementation (D) (e. New Value have been amortized over the period of five years.ARVIND LIMITED incurred to bring the assets to their location and working condition they are attributable and includes all expenses incurred to the new store. classified as investments Standard in Subsidiaries. any. implementation costs where it is reasonably estimated software has an enduring useful life. (D-3) Investments Unrealized Account. Current Investments period of Lease. The thatthe currency loans Company capitalizes software and related benefits to the asset will flow to the enterprise and (Cz) Land held for sale is stated at the lower of their net book value and net realizable value. An asset is considered Accounting in accordance of impairment with and Standard 28 on Impairment of Assets when at balance sheet date there are indications the carrying amount of the asset.S) Investments over the and Joint Ventures been provided as per the rates permitted its useful life. in case of at the time of capitalization in subsidiaries are valued at cost less any Investments amount are reviewed may not be if events or changes in circumstances the carrying on lease hold improvements for impairment.13) Premium on Leasehold Land is amortized under the local laws/at such rate so as to write off the assets over are classified as Long Term Investments Long-term investments are diminution in value. cumulative gain or loss revaluation is recognised in the profit and loss is provided over the balance life of the assets as per dated 31st March.n) Individual assets costing less than ~ S. Intangible Assets (E) to stated at cost less permanent and net realizablevalue. (e.1S) Intangible assets are stated at their cost of acquisition and / or fair value. IMPAIRMENT OF ASSETS as impaired are stated at lower of cost (e.16) ANNUAL REPORT 2010 .

6) Expenses of overseas offices are translated and Insurance Fund and Employee's Pension Scheme are chargedto accounted atthe monthly average rate.1) Transactions denominated in foreign currencies are ineffective normally recorded at the exchange rate prevailing at the time ofthe transaction. option. deferred to hedging reserve are recycled in the profit and loss account in the periods when the hedged item is recognised the portion in the profit and loss account ofthe gain or loss is determined hedge. The Company's to State Plans namely Employee's State revenue every year. (F. The difference been added to or deducted assets as per the notification of Corporate rate difference loans carried Translation EMPLOYEE BENEFITS (H.1) The Company and has Defined benefits Fund Contribution which are Plans for Fund are recognized issued by the Ministry foreign currency Item Affairs dated March 31. management objectively supporting offsetting cumulative evaluates and evidences with appropriate documents at the inception of each contract is effective in achieving to hedged risk. (F. other than as mentioned in (FA) above is recognized inthe profit and loss account. swap contracts and other derivative financial instruments. or when to be an FOREIGN CURRENCY TRANSACTIONS (F. is provided Gratuity for in is the books. terminated or no longer qualifies for hedge accounting. The actuarial valuation Unit Credit Method.2012 whichever is earlier. cumulative gain or loss recognised in hedging reserve consisting depreciable of loans which relate to acquisition capital assets at the end of the year have at the rate prevailing from at the balance has the cost of the arising as a result been restated sheet date. for speculative purposes. (F-3) Non-monetary cost. (G.e. Plan administered by ICiCI year. the Company The Company neither enters into forward. 2009. (G-3) Changes in the fair value of derivatives designated determined to be an effective that are (I) Profit and Loss Account as income or expense. To designate a forward contract or option as an effective hedge. It is as in hedging reserve account. the net to profit or loss fortheyear. of experience in the (H-3) Actuarial Gains and Losses comprise and are recognised date of the adjustments assumptions and the effects of changes in actuarial immediately subsequent balance sheet dates. (G. on the basis of an actuarial valuation at the year end and incremental Projected liability. in connection fees and other charges with the borrowing of funds. The Company also pays insurance premiums to fund a post-employment a Defined is charged Contribution Contribution to revenue on settlement or on translation Lombard General Insurance Company Limited which every year. The carrying amount is reducedtothe recoverable impairment (F) amount and the reduction is recognized as an loss in the profit and loss account.S) Hedge accounting instrument is discontinued when the hedging or exercised. balance in the theyear end are restated at year end rates.S) Any income difference or expense either on account of exchange are charged to revenue every medical assistance scheme. Any calculated on the basis of effective interest rate in accordance Accounting Standard (AS) -30 and considered revenue expenditure attributed to the and charged to profit and loss account costs acquisitiorrlmprovement of qualifying contractwhetherthe cash flows attributable forthe year in which it is incurred except for borrowing gain or loss on the hedging instrument .cash generating unit to which the asset belongs. (F. BORROWING COST and qualify as cash flow hedges and are hedge are recorded For Arvind Limited Borrowing incurred with costs include interest. if any.2) Derivative financial instruments at their fair value on the transaction and are re-measured are initially recorded derivative at their fair value at holds nor issues any derivative financial instruments through trust recognised by the Income and j or by Lie.2) The Company has Defined Benefit Plans namely leave encashmentj compensated absences and Gratuityfor all the employees. trustees Difference has been amortized administered contributions through thereto and the Company's to be amortized up to the period of loan or upto March 31.1) In order to hedge its exposure to foreign interest rate and commodity exchange. (G) DERIVATIVES TRANSACTIONS AND COMMODITY HEDGING (H. administered Tax Authorities is done based on scheme price risks. (FA) All long-term foreign currency monetary items of foreign currency items are carried at expires or is sold. until forecast transaction is discontinued. the liability for which is determined (G. the higher of the asset's net selling price and value in use). If a hedged transaction is transferred (H) is no longer expected to occur. Exchange on other long-term to 'Foreign Currency Account' Monetary post employment Superannuation Income by the namely Provident These funds Tax Authorities. exceeds its recognised reserve the hedged in hedging the accounting reserve is kept in hedging occurs or Amounts recoverable amount (i.2) Monetary items denominated in foreign currencies at (GA) Derivative financial instruments that do not qualify for hedge accounting are marked to marketatthe sheet date and gains or losses are recognised profit and loss account immediately.

certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized. ACCOUNTING FORJOINTVENTURE Accountingfor Joint Venture has been done as follows: Accounting Treatment Company'sshare is accounted of profit Ventures.26 Crores). date of allotment profit or loss for the year by the weighted average number or before the expiry of 18 months from the date of allotment . CONTINGENT LIABILITIES (a) (b) Bills discounted ~ 114. (K.32. ~ 1. CONTINGENT ASSETS Provisions obligation involving a substantial degree when there of estimation is a present liabilities nor CONTINGENT LIABILITIES AND equity shares.76 Crores (~ 28. Sales Tax demands.000 of the Company have approved the of ~ 15/.20 Crores (~55A9 Crores). For Subsidiaries and Joint Ventures Borrowing incurred considered it is incurred costs includes interest.11Crore) respectively. lease has The finance during the (0) is lower with (N) outstanding payable lease payments in measurement are recognized as a result of past events and it is probable that of resources. of profit or loss on determination as permitted by on such finance liability.99 Crores (~30.06 Crores) and ~ 0. Contingent are not recognized but are disclosed in the accounts by way recognized disclosed in the financial statements.1) Tax expense consists of both current as well as under operating lease term.02 Crores ~6.00. if any. income tax payable including the tax payable u/s 115JB.25 Crores). (J-3) Lease Rentals for assets acquired lease are recognised Account on a straight-line (K) TAXES ON INCOME (K. PROVISIONS. Excise/ Custom Duty demands. the shareholders at an issue price warrants to Promoters into 3.65 Crores). CAPITAL ISSUE EXPENSES Expenses on issue of Shares. (c) Guarantees/Counter Crores). (KA) Deferred forward tax assets to the extent are recognised there and carried using the tax enacted as on that is a reasonable (e) Other demands in dispute ~ 30. Contingent assets are neither there will be an outflow of a note. Guarantees given by the Banks on behalf of the Company ~ 61·73Crores (~ 45.08 Crores).000 equity shares of ~ 10/. fees and other charges in connection with the borrowing of funds and is to the (M) as revenue expenditure except for borrowing for the year in which costs attributed of commercial capital asset and use of the the weighted average number of equity shares outstanding during the year as adjusted for the effects potential dilutive. (d) Income Tax demands. ~ 30. ~ 19-35CrOres ~ 16.2) Lease rental reduction charge of the lease or the present value of the whichever liability. Type of Joint Venture Jointly Controlled Entity as an expense in Profit & Loss basis overthe or loss by the Joint Joint Venture interests accounted as above have been deferred tax liability. EQUITY SHARES AND WARRANTS (1) In the Extra Ordinary preferential /Promoter convertible allotment Group General Meeting of3. except where the results are anti- acquisitions/improvement of qualifying incurred till the commencement asset and which is capitalized as cost ofthat asset. Diluted EPS is by dividing the net profit or loss for the year by of all dilutive assets up to the date when such assets are readyfor intended use are capitalised as a part ofthe cost of such asset.each at a but on premium of~ 5/-atanytimeafterthe in one or more tranches and.32.00. in respect oftaxable income fortheyear. Basic EPSis computed by dividing the net 7. (L) EARNING PER SHARE The Company reports basic and diluted Earnings per Share (EPS) in accordance with Accounting Standard 20 on Earnings per Share.2011 of Equity shares outstanding during the year. Currenttax represents amount of included in segments to which it relates. Such deferred tax is quantified rates and laws enacted or substantively the Balance Sheet date. to periods been apportioned between finance charge and the in the outstanding has been allocated lease term so as to produce constant periodic rate of interest on the remaining balance of liability for each period. 2009. (J) LEASE ACCOUNTING (J.2) Minimum Alternate Tax Credit is recognised as an 6. Service Tax Demands and Textile Committee Cess ~ 4.11Crore ~ 0. (K-3) Deferred between tax is recognised the accounting on timing difference to Banks and Other Companies ~ 235.61 Crores).which are held on May 12.1) Assets acquired under Finance Lease are segregated from the assets owned and recognized as asset at an amount equal to the fair value of the leased assets at the inception minimum corresponding (J. Debentures and GDRs are being adjusted against Share Premium Account section 78 ofthe Companies Act.77Crores (~1. Guarantees given by the Company asset only when and to the extent there is convincing evidence that the Company will pay normal incometax within the specified period.ARVIND LIMITED computed ANNUAL REPORT 2010 .84 Crores (~ 133-84 income and the taxable income for the year that originates in one period and are capable of reversal in one or more subsequent periods.

each chosen to early adopt 'Accounting revisions Standard .01 Crore (Previous Year ~ 0.00.25 . • As per the notification time. All the financial assets and financial liabilities and have been remeasured at their values or at amortized cost as against cost or market value the consequential and paid up amount of ~ 0.98 book overdraft. respectively Secured capital account and not providedfor~148.000 warrants (4. the Company shares of ~ exercise directors Crores) on such warrants Accordingly. the Company had also implemented has issued 23.03 Crores valuation of outstanding derivatives. 10. Asa result: a) An amount of ~Nil being the exchange rate gain for of the Companies of the Company on 25th September. (4) During the year. 13.500 equity of ~ 4. 2007. Sr.89 Crores on account offair FOREIGN EXCHANGE DIFFERENCES 11.000 into Equity Shares within the stipulated from the date of allotment. stand forfeited Reserve. An amount gain forthe of ~ 0. and Hedge Other Liabilities include ~ 1. 100 to 103 read with other Act. IMPAIRMENT OF FIXED ASSETS differences which are related acquisition In accordance with the Accou nti ngStandard (AS-28) on 'I mpai rment of Assets' notified by Companies (Accounting Standards) Rules.000 18 months from the date of allotment.98 Crores has been adjusted in the April t. the balance in Share Premium account has been utilized to the extent of ~ 20. 9. FINANCIAL the Announcement INSTRUMENTS: Institute of had 2. on other long-term foreign to 'Foreign Difference Translation Exchange rate differences currency Currency Account'to Monetary loans have been transferred Item be amortized over the balance period of Sections 78. Accounting other Group have not exercised the right warrants) period of 18 months the said warrants to Capital Standards.01 Crore) due from subsidiary companies. during the year the Company has reassessed its fixed assets and is ofthe view that no further impairment/reversal to be necessary in view of its expected realizable value. As a result.30. In the spirit of complete . Exchange Rates' and 'Accounting of stock underthe 8.00. Loans are lower by ~ 3-29 Crores. (1. 2009 as amended from time to of exchange rate differences with effect from Land with 31St March 2011 based on a valuation made by an approved valuer.50. Loans and Unsecured ~ 2-41 Crores and ~ 3. REVALUATION OF FIXED ASSETS The Company Leasehold has revalued effect the entire from block of Freehold and Reserve account is higher by ~31. Investments.30.(2) The Promoters/Promoter for conversion of warrants) warrants Group have exercised the right warrants (1.50. EARLY ADOPTION • Consequent Chartered Instruments: read with to OF AS 30.75 Crore being the exchange rate year (Previous year gain of ~ 1.06 Crores) remains to be amortized as atthe balance sheet date.000 RECOGNITION AND MEASUREMENT of the Accountants Recognition limited of India (ICAl).48 Crores (~3-43 Crores) on account of Current Assets includes ~ 0. Pursuant to the Scheme. the Company has changed the designation financial assets and respective adoption fair of AS and measurement derivatives whichever of all its significant for conversion of 1. 2012 whichever is earlier.65 per share on to its employees and 10/- limited revisions to 'Accounting of Changes in Foreign announced by the ICAI. the Company accounting issued by the Ministry of Corporate had already exercised the option adoption oft hat option: of long-term to foreign for Affairs dated 31St March. Accordingly. as published by ICAI with effect from 1July.06 Crores (~21-32 has been transferred is lower.10. (b) 2006.13' on 'Accounting Standard -11' on 'The Effects for Investments' as had been each at a premium option granted ESOS 2008 plan.000 period of the said of 14. REDUCTION OF CAPITAL: A Scheme of Reduction "the Scheme") under relevant sections the shareholders sanctioned December 2009. • Standard .30.00. to ~ 230.000 ~ 5/.15 Crores) has been adj usted agai nst the fixed assets. The estimated amount of contracts remaining to be executed on Crores (~23-39 Crores). the Company and Measurement' in various into Equity Shares within the stipulated Accordingly. 2008.72. The details are as under: b) of Capital (herein after referred to as by is considered of depreciable overthe fixed assets have been added to or deducted from the cost ofthe assets and depreciated balance life ofthe assets and. 1956 was approved 2009 and on 15th loans or up to 31StMarch. as on Balance Sheet date.00.50. (3) The Promoters/Promoter Equity Shares) of ~ Equity Shares at a premium 10/.30. Consequenttothe (a) Exchange currency rate loans carrying value of Land block and credited to Revaluation Reserve.25 Total 20. stand converted in to 2. The resultant increase in the gross block amounting 12.00. by the High Court of Gujarat at Ahmedabad the year (Previous year gain of ~ 6. Financial in its entirety. Particulars Amount ~ in Crores Effect on Profit for the year had the scheme not prescribed this accounting treatment To the sameextent i Reduction in carrying valueof Stock 20.25 Crores (~37-48 Crores) (out of permitted utilization of~ 60 Crores).per share. liabilities.

2010-11 283·74 2009-10 206.61 & Fixtures 2.02 (0.02 0.00) in progress at the 21·47 payments obligation: Not laterthan 4-33 Later than one year and not later than Five years 3. 2.05 0·94 0.72 Later than five years OA8 (0.20 renewal.3 on Crores) not available for use by the Company.64) Nil OA6 (0.10) OA6 (1. The particulars ofthese leases are as follows: (~in Crores) Particulars Future under leases: Not laterthan than five years Laterthan five years Lease Income recognised & Loss Account (C) Data Processing Equipments. Later than one year and not later The Company is making efforts to get the confirmations suppliers as regards their status underthe AUDITORS' REMUNERATION: Act. Figures in bracket represent outflow of cash.83 0.71 0. DISCLOSURE CONTRACTS LIMITED IN RESPECT OF CONSTRUCTION/JOBWORK (~in Crores) ANNUAL REPORT 2010 .61 Later than one year and not later as set out in Accounting Standard .00 0. MICRO & SMALL ENTERPRISES The Company regarding Enterprises (a) Amount their has not received status under Act. The particulars ofthese leases are as follows: (~in Crores) Particulars Future Minimum on lease payments non-cancellable 56.02 (0.23 97-70 69.14 154·33 73. The Cash Flow Statement "Indirect Method" Cash Flow Statements.00 0.27 71.2011 The particulars ofthese leases are as follows: (~in Crores) Particulars Minimum lease payments Present Interest Sr. 1. and 2006 from suppliers Medium disclosures Show Rooms and other facilities are taken on lease for the period of 3 months to 20 years with/without increase in lease rental.21 Crores (~ 12-32 has been prepared under the 0.03 0. DUES any intimation Micro.42 Rental received 39. NOTES TO CASH FLOW STATEMENT: 1. Cash and Cash Equivalents include ~ 23. .04) Nil (0.61 2009-10 0. no sub lease and having an escalation clause for the Small and hence Development regarding following have not been given: to suppliers as at the end of due and outstanding accountingyear.28 Future Minimum one year lease Value of Minimum lease Payments and Other Charges not due 0.00 0.69 2009-10 5.00 in Profit 0. from the (~in Crores) 2010-11 Statutory Auditors As Auditors In other capacities Travelling and Out of Pocket Expenses Cost Auditor Cost Audit Fees 20. and operating leases: one year Interest accrued and unpaid at the end of the accounting year.27 in Profit Lease 80.06) Nil (Nil) OA8 (1.10) 0. 3. Vehicles.61 0.03 1. Particulars Amount of Contract in date cost incurred profits less Revenue of recognised Disclosure contracts reporting respect 2010-11 21.61 0.60) Nil A Contract and recognised recognised losses up to the reporting date B C (A) Due from customers Due to customers Factory Building.12 obligation Not laterthan than five years Laterthan five years Lease Payment recognised & Loss Account (B) Rent Income includes towards Building. (b) (c) (d) Interest paid duringtheyear. Plant&Machineriesgiven on operating leases which of 19.71 1-35 2. 0. the option of 18. one year Minimum lease payments operating non-cancellable 2010-11 0.ARVIND 16. Interest payable atthe end ofthe accountingyear.19 5.84 0. Plant and Machineries. Office (OA6) Nil (Nil) (OAO) Nil (Nil) Premises. Furniture and Equipments have been acquired under Finance Lease for a period of33to 60 months with the option of renewal.05 2009-10 are generally for a period of 12to 60 months with the option of renewal on mutual consent and premature termination agreement through agreed notice period.

Construction (Electronic and Total Liabilities Segment Depreciation/Impairment a) b) c) d) Textiles Branded Garments Others Unallocable Services 140·79 23.24 Notes: 1.49 150.91 0.02 0·53 BY 2978.04 7·97 Depreciation 2010-11 (~in Crores) 2009-10 PRIMARY Particulars Segment Revenue a) b) c) d) Textiles Branded Garments Others Unallocable 2010-11 2009-10 0.70 22.42 2. Types of Products Textiles Branded Garments: Others and Services in each business segment: Yarn.T.24 83·33 related parties ofthe Total Capital Expenditure .26 21.61 995·45 189. I. the 33.67 15.]6 0.13 In India Outside India 250·75 0. The company's manufacturing and branded garments.22 712. operations Total Assets Segment Liabilities a) b) c) d) Textiles Branded Garments Others Unallocable the organizational oftextiles system. 2006. has disclosed Segments business segments as the risks and reporting relate to primary account returns.06 222.07 4209-49 location of Assets In India Outside India Total Segment Results Less: Interest& Finance Cost Profit from Ordinary Activities Extra Ordinary Items (Net) Profit before Tax Other Information Segment Assets a) b) c) d) Textiles Branded Garments Others Unallocable 113·57 5008.10 175·86 0.17 India 1273.25 34.07 172.93 Total Sales Carrying a) b) Total Addition a) b) Total to Assets Cost 3261. SEGMENT (A) REPORTING: SEGMENT (BUSINESS SEGMENT) Particulars Non (~in Crores) a) b) c) 2432. Inter segment Revenues are recognised RELATED PARTY DISCLOSURES: As perthe 18) notified Accounting Standard Company on "Related are as follows: Party Disclosures" (AS Total Depreciation Capital Expenditure a) b) c) d) Textiles Branded Garments Others Unallocable by Companies (Accounting Standards) Rules.02 0.23 Particulars before Interest & 358·34 54·03 13·78 (5. 629.92 61·79 1085·46 2.01 (6-48) 258.51 4089·68 of Assets 2010-11 d) cash expenses Textiles Branded Garments Others Unallocable other than 1. The Company segment.00 47-10 Segment a) b) Revenue 2816.68 833·63 203·70 900.30 1123.86 5.80 709.67 132.01 250·76 83·33 0.92 322. business at sales price.06 0-43 0.31 4089·68 Total Non cash expenses other than Depreciation (B) SECONDARY CUSTOMERS) SEGMENT (GEOGRAPHICAL Total Segment Revenue Less: Inter Segment Revenue Net Segment Revenue Segment Results Segment a) b) c) d) Results Finance Cost Textiles Branded Garments Others Unallocable (~in Crores) 2009-10 In India Outside 2137.23 by 4894·56 4117-52 92.78 1. 3.17 4209-49 401.]9 211.00 24.72 9.13 51.12 5008.42 172.00 175·86 220.19) 420.28 43·87 250·76 145.01 3277-66 16-43 3261.69 47-10 0. Fabric and Garments Branded Garments EPABX and RAX Systems Division).96 245.99 74.02 4163.00 83·33 3070.13 2817-49 572-42 145-41 674.91 5·55 0·47 0.15 21.21.83 70.26 23-16 11.89 46. have been identified differential and internal predominantly structure taking into the nature of the products.70 4.

41 (~in Crores) Name of Subsidiary Loans & Advances in the nature of Loans Closing Balance Arvind Overseas (Mauritius) Arvind Textile Mills Limited TOTAL Limited 7-91 0.00 0.92 Interest Expense 0.92 Maximum Outstanding 7-91 0.2011 0·30 (0.00 0. Excise Duty and Custom Duty in respect of Branded Garment Divisions acquired on Amalgamation/Merger. of Equity Sharesfor Diluted EPS Nominalvalueof EquityShares BasicEarningperEquityShare Diluted Earningper EquityShare PER SHARE (EPS): 0.89 6. 23. Bangladesh Aura Securities Private Limited * Excluded for consolidation. the liability for which may arise in the future. Shareholder Weighted averageno.00 2.00 PROGRAM 0. Nos.10) (B) PROVISION FOR CUSTOMER LOYALTY REWARD POINTS The Company has made provision for redemption of 0.81 (~in Crores) 2009-10 2.03-2010 0.00 0·56 0.01 7. Mauritius Arvind Spinning Limited.00 0.1~ Receivable in respect of: Current Assets Loans Loans 0. Indirect Taxes 2010-11 2.erial Personnel (B) Shri Sanjay S.99 Particulars Opening Balance Add: Provision made Less: Provision reversed Closing Balance ~ ~ ~ . Shah Director & Chief Financial Officer Shri Punit S.ARVIND LIMITED Subsidiary Companies (A) ANNUAL REPORT 2010 .2011 List of Related Parties & Relationship: * Key Management Personnel Company under the control of Key (C) ManaJ!. DISCLOSURE (A) IN RESPECT OF PROVISIONS: FOR DISPUTED MATTERS PROVISION The Company had made provisions for pending disputed matters in respect of Indirect Taxes like Sales Tax. of Equity Sharesfor BasicEPS Weighted averageno.00 0.01 7. EARNING Particulars Profit available to Equity ~inCrores Nos.81 2010-11 164·87 239200568 239353175 10 6.00 0-30 reward points andvaluefor Note: No repayment schedule has been fixed in case of above mentioned Loans & Advances in the nature of loans given to Subsidiary Companies and they are interest free.06 225191240 246687525 10 2.03.80 2009-10 Referred in (C) Above 2010-11 2009-10 & Other Services 3-S4 ~. (~in Crores) Referred in (B) Above 2009-10 2010-11 4. Lalbhai Son of Chairman and Managing Director Arvind Overseas (M) Limited.81 0.00 2.18 1. The summary of those points are given below: (~in Crores) 31.20 0-30 31. the quantum whereof will be determined as and when the matters are disposed off.00 Pavable in respect of: customer loyalty program reward points. Note: Related party relationship Nature of Transactions Referred in (A) Above 2010-11 Expenses Remuneration Income Sale of Goods Service Income Outstanding (a) (b) (a) : 0.92 Particulars Opening Balance Net Provision/(Reversal) made duringtheyear Closing Balance 24.01 7-91 9.~2 is as identified by the Company and relied upon by the Auditors. Lalbhai Chairman and Managing Director Shri Jayesh K. Lalbhai Son of Chairman and Managing Director Shri Kulin S.01 7·91 0.81 0.89 2009-10 49. Mauritius Arvind Textile Mills Limited.

Vestine:on April 2010 6. Engineer & Co.857 2009-10 49·06 (0. zoth May.as reported .00 164.01 4. based on General Prudence.28% S·02 ~o.05. In accordance with the mandatory Accounting Standard . V. the Company has not recognised the deferred tax assets on account of accumulated business losses and unabsorbed depreciation nor written back excess deferred tax liability. the Company isaccountingfordeferredtax.00 49·9S 0-76 0. . Options Vested but not Exercised at Previous year's figures are shown in brackets and are regrouped or recast wherever necessary to make them comparable with those of the current year. (Previous Year~ 12.6<. 2011 25% on April 30. the features Scheme Date of Grant Number of options granted Exercise Price per option Date ofvesting ESOS2008 October 2<.6S 53-71% 0.13 49·06 2009-10 22.6S 2011 7. net deferred tax liability of~ B. BHIMANI Company Secretary ~ 14·65 Signatures to Schedules 1to 17 As per our report attached ForSorab S.01 of Equity Shares No.87 0.87 (0.28% ~. Anklesaria Partner Ahmedabad. . l10417W Chartered Accountants CA.26 14. used for calculating Earnine:per Share Profit forthe year Less:Dividendon redeemablecumulative non Convertible PreferenceShares Less:Taxon Preference Dividend Profit availableto Equity Shareholder (B) Weighted average number 0.6<.28% 164.64 14. Through allotment of one Equity Share for each option granted. of which areas follows: Employee Stock Option Scheme (ESOS 200B).200B 27.000/. Sundry Creditors and Loans and Advances include certain accounts which are subject to confirmation/reconciliation.28% 0. 201~ Exercise Period Method of settlement Within 3 years from the date of respective vesti nz.19Crores reversed).15 1·99 1. Furtherdetails ofthestockoption plans ESOS200B isasfollows: 2010-11 start of year Year Year Year 2605000 Nil Nil 2372500 Nil 2~2500 c) Particulars Options Outstandingat Options Granted duringthe Options Lapsed duringthe Options Exercised duringthe end of Year Options not Vested at end of Year Weighted per Option Average Exercise Price 2009-10 27. have been shown as actual in brackets. SHAH Director & Chief Financial Officer R.76) 4B.2006.65 2012 8.000 Nil Nil 26. 28.000 ~14·65 29.12 6.53% 0. 14. 2012 2<.50. the Company's net loss and earning per share would have been as per proforma amounts indicated below: (~in Crores) 2010-11 164.1B 2. CAPITAL RESERVE ON CONSOLIDATION Capital Reserve on consolidation represents the losses in the value ofthe investments in subsidiary companies provided by the Arvind Limited (Holding company) in accordance with the scheme of arrangement sanctioned by the High Court of Gujarat. Firm Registration No.as reported . Figures less than 50.89 6.%on April ~o.N. EMPLOYEE a) SHARE BASED PAYMENT the Company has formulated 239353175 246687525 7. Sundry Debtors.22 "AccountingforTaxeson Income" notified byCompanies (Accounting Standards) Rules. In compliance with provisions of Accounting Standard.6<.(~in Crores) (A) Reconciliation ofthe profit for the year.92 Crores has been provided.65% o% 7·57% 7·61% Had the compensation cost for the stock options granted under ESOS 200B been determined on fair value approach.proforma DEFERRED TAX 25% on April 30. 27. 2010-11 2009-10 2013 8.861 6. 2011 d) The Black-Scholes-Mertons Option Pricing Model have been used to derive the estimated value of stock option granted if the fair value method to account for the employee share based payment plans were to be used.02 Particulars Net Profit afterTax as reported Less: Amortisation of Compensation Cost (proforma) Net Profit considered for computing EPS(proforma) Earning Per Share . 30.75) 164.89 6.(Basic) .50.which are required separately.proforma Earning Per Share .05 14. LALBHAI Chairman & Managing Director JAYESH K.66 14. The estimated value of each stock options and the parameters the estimated Scholes-Mertons used for deriving under Blackvalue of Stock Option granted Option Pricing Model is as follows.)191240 SharePriceat Grant Date(~) ExercisePrice(~) ExpectedVolatility (%) DividendYield Rate(%) Expected LifeofOptions(lnyears) RiskFreeRateof Interest (%) e) 58-74% 54. D. during the year under review. The intrinsic value of each stock option granted underthe ESOS 200B plan is ~ Nil since the market price of the underlying share at the grant date was same as the exercise price and consequently the accounting value ofthe option (compensation cost) is ~ Nil. However.6S 54-46% 0. 14. SANJAY S. 14.96 n 6.000 Nil 1045.000 ~14·65 Thevestingwill be as under: 26. 2010 25% on April 30. of Sharesfor BasicEPS No. of Shares for Diluted EPS after considering Potential equity sharesto be converted from warrants anddilute effect of outstanding stock options 25.~0 2.(Diluted) During the year 200B-2009..65 14. to be shown b) lntrlnsic Value Method has been used to account for the employee share based payment plans. the effect of which is not ascertainable.87 2010-11 2~9200568 Particulars Estimated Value of Stock Options(~) ESOS 2008 .

Mauritius Date: June 30. we do not accept or assume responsibility report orforthe opinion we have formed. based on our audit. 2011. 2011 and of its lossfortheyearthen BDO&Co Chartered Port Louis. the financial statements. This report was approved SANJAY S. They are also responsible offraud the assets of the company and hence for taking reasonable steps for the prevention and other irregularities. forthis for keeping proper accounting for safeguarding records which disclose with reasonable accuracy at any time the financial position of and to form an independent opinion. gives a true and fair view ofthe state of affairs of the which has been prepared ended. as a body. our audit provides a reasonable basis for our opinion. LALBHAI DIRECTOR SAMVEG A. to extent permitted of The Arvind Overseas members. company as at March 31.2011.2011 Directors'Report Dear Shareholder The Board of Directors is pleased to present the financial statements of which are listed below: of The Arvind Overseas (Mauritius) Limited fortheyear ended March 31. It is our responsibility and to report our opinion to you. by law. We believethat In our opinion. 2011 Accou ntants . for our audit. under the break up basis. To thefullest membersas a body. on the financial statements the company. the contents All shareholders agree that the Annual Report need not comply with Section 218 ofthe Companies Act 2001. LALBHAI DIRECTOR Report of the Auditors We have audited the financial statements This report is made solely to the company's anyone other than the company and the company's The directors detection are responsible tothe Members (Mauritius) Limited set out on pages 79to 81.THEARVIND OVERSEAS (MAURITIUS) LIMITED ANNUAL REPORT 2010 . by the Board of Directors on June 30.

LALBHAI DIRECTOR SAMVEG A. 2011 (1 Mau ~ *The rupee equivalent **The rupee equivalent ~ has been given atthe inter bank rate as on 31st March.4917) . Auditors' report on page 78.88 192.100 3557·95 (3532.5506) = 1.Balance Sheet . LALBHAI DIRECTOR The notes on page 81form an integral part ofthese financial statements.953 3698·45 (3671.51 238.709.308 1.~ Administrative Finance Costs Proflt/(Loss) forthe year expenses 4 ~ in Lacs* Mau.2011. SANJAY S.787.807.51 1.729.709.05) (1. *The rupee equivalent **The rupee equivalent of Mauritian of Mauritian ~ has been given at the inter bank rate as on 31st March.355) (0.4917) Income Statement . 2011 Notes 2011 2010 Mau.729.100 (236.709. Auditors' report on page 78.981) (17)374) (19.570 ~ in Lacs** (0.308 Theseflnancial statements have been approved for issue by the Board of Directors on: June 30.792) 1.51 26.94) 26.5506) = 1. of Mauritian of Mauritian ~ has been given at the inter bank rate as on 31st March.308 25·80 25·80 Totalassets EQUITY AND LIABILITIES Capital and deficit Share capital Revenue deficit Equityholders' interest 3 238.03) (0.2011.517.953 ~ in Lacs* Mau.729.147) 1.~ 1.953 1.30) 2·93 2. LALBHAI DIRECTOR SAMVEG A. 2011 Notes ASSETS Current assets 2011 2010 Mau. LALBHAI DIRECTOR The notes on page 81form an integral part ofthese financial statements.15) 25·80 (236. 2011 (1 Mau ~ ~ has been given atthe inter bank rate as on 31st March. 2010 (1 Mau ~ = 1.27) (0. SANJAY S.~ (3. 2010 (1 Mau ~ = 1.Year ended March 31.517.~ ~ in Lacs** Cash and cash equivalents 26.886 Theseflnancial statements have been approved for issue by the Board of Directors on: June 30.March 31.684) 196.

~ 2010 ~ in Lacs* Mau.~ Balance at April Profit forthe Revenue Deficit Mau.88 (3. 2010 = 1. 2011 (1 Mau ~ ~ has been given atthe inter bank rate as on 31st March.88 Movement in cash and cash equivalents: At April t.Year ended March 31.792) (19.787.63) (0.88 Increase/(Decrease) in cash and cash equivalents 2.zooc year 238.Year ended March 31.16) 1.886 22·92 2.88 At March 31.100 year Balance at March 31.355) Total Mau.536.355) (0.787.807.729.355) (19. The notes on page 81form an integral part ofthese financial statements.2011 Statement of Changes In Equity .100 238. 2010 (236.886 192.678) 192.30) 192.5506) = 1.308 (19.5506) (1 Mau ~ = 1.517.355) 26.308 26.zoto 238. Increase/(Decrease) 1.709.30) 1. 2011 Balance at April Profit forthe 238.30) (0.100 3.308 (19.82 (0.953 1.147) (236.88 2.88 25·80 t.671.557·96 Balance at March 31. 2011 Share Capital Mau.100 3.980. *The rupee equivalent **The rupee equivalent of Mauritian of Mauritian ~ has been given at the inter bank rate as on 31st March. Auditors' report on page 78.~ ~ in Lacs** Cash flows from operating activities Cash absorbed in operations Net cash used in operating activities (19.4917) .517.93) (3535.30) t.517. *The rupee equivalent **The rupee equivalent of Mauritian of Mauritian ~ has been given at the inter bank rate as on 31st March.422 192. 2010 (1 Mau ~ = 1.729.886 (3.4917) Cash Flow Statement .30) ~ in Lacs* 26.886 --------- 2. 2011 2011 Mau. 2011 (1 Mau ~ ~ has been given atthe inter bank rate as on 31st March.729.04) 2.52 22·92 2.698·45 3557·96 (236.~ 1.532.792) Auditors' report on page 78.81 (0.THEARVIND OVERSEAS (MAURITIUS) LIMITED ANNUAL REPORT 2010 .536.~ (236.30) (0.422 192.355) ~ in Lacs* 3698·45 ~ in Lacs* (3671.517.886 1.

385.185 In Lacs6004. FINANCE COSTS 250.~ ~ In Lacs* Mau. (b) Foreign Currencies (i) Functional and Presentation Currency Items included intheflnancial statements are measured using Mauritian ~. (c) Deferred income tax Deferred income tax is provided in full.751.000 Netforeign exchangetransaction Losses 5. These policies have been consistently applied to all the years presented. All long term assets have been reclassified as current. it is probable that an outflow of resources that can be reliably estimated will be required to settle the obligation.~ 387.Its immediate and ultimate holding company is The Arvind Limited.~ ~ In Lacs** AUTHORISED 2. Foreign exchange (ii) 3.000 ordinary shares oH 100 each ISSUEDAND FULLYPAID 2. if the deferred income tax arises from initial recognition of an asset or liability in a transaction. it is not accounted for. gains and losses resulting from the settlement of such transactions and from the translation at yearend exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the statement of comprehensive income. which have not been recognised in these financial statements dueto cessation of business. Mauritius and the place of business is at LaTour Koenig. unless otherwise stated.4917) . 2011 2010 SIGNIFICANT ACCOUNTING POLICIES The principal accounting policies adopted in the preparation of these financial statements are set out below. SHARE CAPITAL Mau. Frere Felix de Valois Street.Year ended March 31. The company ceased business in August 2004. 2011(1Mau ~ = 1. 2011 1.00**) to carry forward against ~ future taxable income.500. However.Notes to the Financial Statements .000. Deferred income tax is determined using tax rates that have been enacted by the end of the reporting period and are expected to apply in the period when the related deferred income tax asset is realised or the deferred income tax liability is settled.246~ In Lacs5.256.Pointeaux Sables. The address of its registered office is 10. Port Louis. The financial statements are presented in Mauritian ~. Deferred tax assets are recognised to the extent that it is probable that future taxable profit will be available against wh ich ded uctible tem porary differences can be uti lised. Transactions and Balances Foreign Currency Transactions are translated into the functional currency usingthe exchange rates prevailing on the dates of the transactions. 2010 (1Mau ~ = 1. DEFERRED TAXATION Deferred income tax assetsare recognised fortax lossescarried forward only to the extent that realisation of related tax benefit is probable. (d) Provisions Provisions are recognised when the company has a present legal or constructive obligation as a result of past events. The company hastax lossesof Mau. All assets have been stated at the lower of cost and net realisable value. the currency of the primary economic environment in which the entity operates ("functional currency"). *The rupee equivalent of Mauritian ~ hasbeen given at the inter bank rate as on 31stMarch.5506) **The rupee equivalent of Mauritian ~ hasbeen given atthe inter bank rate as on 31stMarch. (a) Basisof preparation Theflnancial statements of The Arvind Overseas (Mauritius) Limited have been prepared under the break up basis. GENERAL INFORMATION The Arvind Overseas (Mauritius) Limited is a private company incorporated and domiciled in Mauritius. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date the fairvalue was determined. other than a business combination. that at the time of the transaction affects neither accounting nor taxable profit or loss.000.171 rdinary shares oH 100 each o 4. which is the company's functional and presentation currency. Non-monetary items that are measured at historical cost in a foreign currency are translated using the exchange rate at the date ofthe transaction. These financial statements will be submitted for consideration and approval at the forthcoming Annual Meeting of Shareholders ofthe company.79* (2010: Mau ~ 388.799. on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements. using the liability method. incorporated in India.000 250. 2.

2011 and of its lossfortheyearthen Port Louis.2011 Directors'Report Dear Shareholder The Board of Directors is pleased to present thefmancial statements of Arvind Spinning Limited fortheyear ended March 31. SHAH Director Report of the Auditors We have audited the financial statements This report is made solely to the company's anyone other than the company and the company's The directors detection are responsible tothe Members of Arvind Spinning Limited set out on pages 83to 85. based on our audit. 2011. LALBHAI Director JAYESH K. This report was approved SANJAY S. the contents of which are listed below: All shareholders agree that the Annual Report need not comply with Section 218 ofthe Companies Act. our audit provides a reasonable basis for our opinion. It is our responsibility and to report our opinion to you. to a body. as a body. We believethat In our opinion. forthis for keeping proper accounting for safeguarding records which disclose with reasonable accuracy at any time the financial position of and to form an independent opinion. 2011 Chartered BDO&Co Accou ntants . for our audit. members. gives a true and fairview ofthe state of affairs ofthe which has been prepared ended. 2011. on the financial statements the company. we do not accept or assume responsibility report orforthe opinion we have formed. Date: June 30. They are also responsible offraud the assets of the company and hence for taking reasonable steps for the prevention and other irregularities. by the Board of Directors on June 30.ARVIND SPINNING LIMITED ANNUAL REPORT 2010 . under the break up basis. To thefullest membersas extent permitted by law. the financial statements. 2001. company as at March 31. Mauritius.

88 8.Q2) (0.~ ~ in Lacs* 2010 Mau.Balance Sheet . LALBHAI Director JAYESH K.4917) .2011.770 593.~ ~ in Lacs** Cash and cash equivalents 593.5506) 2010 (1 Mau ~ = 1.770 8.64) 9. SANJAY S.March 31.21 9. of Mauritian of Mauritian ~ has been given atthe inter bank rate as on 31st March.229·30 (1. 2011 Notes ASSETS Current assets 2011 Mau. 2011 2011 Mau. SHAH Director The notes on page 85 form an integral part ofthese financial statements. 2010 (1 Mau ~ = 1.970 8. Auditors' report on page 82.2011. 2011 (1 Mau ~ * The rupee equivalent ** The rupee equivalent ~ has been given at the inter bank rate as on 31st March.966 (81.02) (0.268.21 82.5506) = 1.770 1.42) (81.4917) Income Statement . * The rupee equivalent of Mauritian of Mauritian ~ has been given at the inter bank rate as on 31st March.196) 593.970 594.770 593.~ ~ in Lacs** Administrative expenses (0.409.220.996) 594.409.814. SANJAY S.966 1.88 8.200) (0.816.277·85 (1. ** The rupee equivalent = 1. 2011 (1 Mau ~ ~ has been given at the inter bank rate as on 31st March.88 Total assets EQUITY AND LIABILITIES Capital and deficit Share capital Revenue deficit 3 82.Q2) Loss forthe year (1. SHAH Director The notes on page 85 form an integral part of these f nancial statements. Auditors' report on page 82.02) (1.88 Equity holders' interest Theseflnancial statements have been approved for issue by the Board of Directors on: June 30.200) Theseflnancial statements have been approved for issue by the Board of Directors on: June 30.Year ended March 31.~ ~ in Lacs* 2010 Mau. LALBHAI Director JAYESH K.

ARVIND SPINNING LIMITED ANNUAL REPORT 2010 .170 (1.~ 594.220.Q2) 9.Q2) (1.966 1. 2011 Balance at March 31.42) (0.~ (81.23 (0.200) (0.200) (1.90 (0.200) (1.5506) = 1. 2010 Loss fortheyear 82.409.200) ~ in Lacs* (1.277·85 Mau. Decrease 596.200) (1.90 Balance at March 31.770 596. 2010 (1 Mau ~ = 1.229·30 (81.Q2) Net cash used in operating Net decrease in cash and cash equivalents (1.796) (1. 2011 (1 Mau ~ ~ has been given at the inter bank rate as on 31st March.4917) .229·30 (81.02) Mau.40) (0.200) Total Mau.21 8.770 Auditors' report on page 82.~ 2010 ~ in Lacs* (0.816. * The rupee equivalent ** The rupee equivalent of Mauritian of Mauritian ~ has been given at the inter bank rate as on 31st March. 2010 (1 Mau ~ = 1.Q2) 8. 593.Q2) (0.970 (1. *The rupee equivalent **The rupee equivalent of Mauritian of Mauritian ~ has been given atthe inter bank rate as on 31st March.170 (1.996) Auditors' report on page 82.2011 Share Capital Mau.~ ~ in Lacs** Cash flows from operating activities Loss forthe year activities (1.996) (1.268.02) (0.813.966 Revenue Deficit ~ in Lacs* 1.88 82.200) 8.88 At March 31.Year ended March 31.Year ended March 31. 2009 Loss fortheyear Balance at March 31.64) (1.196) (81.~ Balance at March 31.Q2) 8.970 (0. 2009 Notes 2011 Mau.409.2011 Statement of Changes In Equity .62) ~ in Lacs* 9.966 82.277·85 1.814.200) Movement in cash and cash equivalents At April t.966 1.220.409.Q2) (0. 2011 (1 Mau ~ ~ has been given at the inter bank rate as on 31st March.02) (0.268.200) (1. 2010 82.200) 594.200) 593.Q2) (1.814.5506) = 1.409.4917) Cash Flow Statement .

268. Port Louis. Frere Felix de Valois Street. which have not been recognised in these financial statements dueto cessation of business. Deferred tax assets are recognised to the extent that it is probable that future taxable profit will be available against which deductible temporary differences can be utilised. (c) Provisions Provisions are recognised when the company has a present legal or constructive obligation as a result of past events. 2011(1Mau ~= 1. Mauritius and the place of business was at LaTour Koenig. 2. that at the time of the transaction effects neither accounting nor taxable profit or loss.939~ in Lacs1151. if the deferred income tax arises from initial recognition of an asset or liability in a transaction.~ 74.4917) . 3. Pointe aux Sables. All long term assets have been reclassified as current. unless otherwise stated.~ 74. The company hastax lossesof Mau.266.58**)tocarryforward against future ( taxable income. These policies have been consistently applied to all the years presented. * ** The rupee equivalent of Mauritian ~ hasbeen given at the inter bank rate as on 31stMarch. Arvind Limited. it is not accounted for.~ STATED CAPITAL ~ In Lacs* Mau. However. Arvind Spinning Limited is a private company incorporated and domiciled in Mauritius. Its main activity is the manufacture of ring and open end spun cotton yarn.Year ended March 31. 2011 1.J\rVlnDI Notes to the Financial Statements . The company ceased business in August 2004. SIGNIFICANT ACCOUNTING POLICIES The principal accounting policies adopted in the preparation of these financial statements are set out below. Thesefmancial statements will be submitted for consideration and approval at the forthcoming Annual Meeting of Shareholders of the company.60*2010 :Mau. on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements. All assets have been stated at the lower of cost and net realisable value. using the liability method.229·30 DEFERRED TAXATION Deferred income tax assetsare recognised fortax lossescarried forward only to the extent that realisation of related tax benefit is probable. SHARE CAPITAL 2011 2010 Mau. it is probable that an outflow of resources that can be reliably estimated will be required to settle the obligation. 2010 (1Mau ~ = 1. GENERAL INFORMATION (b) Deferred income taxes Deferred income tax is provided in full.151. and At March 31. (a) Basisof preparation The financial statements of Arvind Spinning Limited have been prepared under the break up basis.5506) The rupee equivalent of Mauritian ~ hasbeen given at the inter bank rate as on 31stMarch. incorporated in India isthe holding company. Deferred income tax is determined using tax rates that have been enacted by the end of the reporting period and are expected to apply in the period when the related deferred income tax asset is realised or the deferred income tax liability is settled. The address of its registered office is at 10.~ ~ In Lacs** Ordinary shares At April 4 i. other than a business combination.139~ in Lacs1. 1.

report that: and explanations which to the best of our knowledge and belief were necessary for the purposes of our We have obtained all the information audit and made due verification thereof. Theseflnancial statements based on our audit. the financial statements the results of its operations referred to above give a true and fair view ofthe state ofthe Company's Affairs as of 31 March 2011 and of and its cash flows for the year then ended in accordance with Bangladesh Accounting Standards and comply with the Companies Act.2011 Auditor's Report To the Shareholders of Arvind Textiles Mills Limited We have audited the accompanying Cash Flow Statement fortheyearthen Balance Sheet of Arvind Textiles Mills Limited as of ended. proper books of accounts as required by law have been kept by the Company sofaras books. basis. In our opinion.and c. An audit includes examining.ARVIND TEXTILES MILLS LIMITED ANNUAL REPORT 2010 . evidence supportingthe estimates amounts and disclosures An audit also includes assessingthe principles made by the management. obtain reasonable and significant assurance about whether are free of material misstatement. The Company's Balance Sheet and Profit and Loss Account dealt with by the report are in agreement the Company and examined by us. In our opinion. Those standards require that we plan and perform accounting the audit to on a test used 31 March. to express an opinion on these financial statements We conducted our audit in accordance with Bangladesh Standards on Auditing. the financial statements in the financial statements. Wefurther a. itappearedfrom our examination ofthose b. as well as evaluating the overall financial statements We believe that our audit provides a reasonable basis for our opinion. Chartered Accou ntants . presentation. 1994 and other applicable laws and regulations. 2011 and the related Profit and Loss Account Our responsibility and is are the responsibility ofthe Company's Management. with the books of accounts maintained by Dhaka 21 ACNABIN 2011 July.

Shareholders' Funds a) b) c) d) Share Capital as of31 March.392.98 II. SHAH Director Dhaka.000 700.218. JAYESH K.368.857.11 Taka 31.671 98.05 159.765 126.992.609 9. 2.Balance Sheet I.17 69·93 61. APPLICATION OF FUNDS 1. DALAL Director ofTaka ~ has been given at the inter bank rate as on 31st march.03.000 98. Less: Current Liabilities & Provisions Net Current Assets (2-3) Miscellaneous a) Profit and Loss Account 66.529.776 21.790.88 21.454.03.41 602·96 3.765 135·38 159.65) .61) = 0.011 24·60 2.657 20.646 3.71 451.108 24.10 ~ in Lacs** 3 500.765 24·60 31.200.98 The annexed notes form an integral part ofthe balance sheet.790.060 24. 2011 Note 31.318 11. Subscribed & Paid-up Share Capital Share Premium Share Application 4 5 21.03.72 4· 5· 6.709 275·38 131.564.654.094 406·55 196.765 73.10 Taka 31.765 3.069·50 19·64 131. 2011 *The rupee equivalent **The rupee equivalent JAGDISH G.347. 3· Fixed Assets Capital Work-in-Progress (Building) Current Assets.61 602·96 500. Loans and Advances a) b) Cash and Bank Balances Security Deposit 6 44.000 4. 2011 (1 Taka ~ ofTaka ~ has been given at the inter bank rate as on 31st march.24 3. SOURCESOF FUNDS 1.03.218.11 ~ in Lacs* 31.000.000 3.22 4·54 29·39 Issued.244.000 3.000.654.975.705 19. 2010 (1 Taka ~ = 0.864. Date: 21July.226.425.657 443.

646 11.609 *The rupee equivalent **The rupee equivalent ofTaka ~ has been given at the inter bank rate as on 31st march.857.128.33) (37.646 (0.61 451.61) = 0. 2011 2009-10 Taka 2009-10 ~ in Lacs** 2010-11 Taka 7 11.108) (31.563 (11.698) (17.800) (20.963 443.zototo 31March.108) 0. 2011 (1 Taka ~ ofTaka ~ has been given at the inter bank rate as on 31st March.563) (68.2011 2010-11 Taka 2010-11 ~ in Lacs* 2009-10 Taka 2009-10 ~ in Lacs** (11.564.776) c) Cash Flow from Financing Activities Issuance of Share at premium Share Application Net Cash flow from Financing Activities 73.38) (37. Date: 21July.128.954 443.628. DALAL Director ofTaka ~ has been given at the inter bank rate as on 31st March.564.671) 68·33 (68.38) (275.65) Statement of Cash Flows forthe a) Cash Flow from Operating Net Loss Adjustment Depreciation (Gain)jloss on sale of fixed assets Tax paid for items not involving movement of cash: Activities period from 01 April.864.308) 480. 2010 (1 Taka ~ = 0.857.826.948.992.61) = 0. 2010 (1 Taka ~ = 0.308) (0.308) (20.61 71.757.92 (37.308) (0.308 (37.24) (6.128.52) (107. bro ught fo rward ed Accumulated (Loss) transferred to Balance Sheet Expenses: ue forthe period from Note 01 Aprilzoto 2010-11 ~ in Lacs* to 31 March. 2011 *The rupee equivalent **The rupee equivalent JAGDISH G.88 Net surplusj( deficit) of cash & bank balance for theyear Cash & bank balance at beginning ofthe year Cash & bank balance at end ofthe year 10.24) Cash Flow from Investing Activities Capital work-in-progress-Building (44.41) 37.563) Changes in working capital components: Increase in Prepayments (Security Deposit) (68.000 73.12 2.85) (275.2011 Profltand Loss Account Tu rnoverjReven Cost of Sales Gross Profit Less: Operating Net Loss Ad d: Acc um ulated Loss.33) (39.04 2.392.24) (11.08) (196.308) (0. SHAH Director Dhaka.33) (128.563) (20.261) Net cash flow from operating b) activities (37. 2011 (1 Taka ~ ofTaka ~ has been given at the inter bank rate as on 31st march.776) (44.24) 3.ARVIND TEXTILES MILLS LIMITED ANNUAL REPORT 2010 .65) . JAYESH K.128.24 The an nexed note forms an integral part ofthe Profit & Loss Accou nt.000 (a+b+c) 451.864.88 73.

000.000.50. forthe period from 01April2010 Formation. with the principal objectives of carrying of business of spinning. Jayesh shares ofthe company were acquired by promoters.000 31. 1.1 Formation and Status Arvind Textile Mills Limited. Duringtheyear under has not been charged as the company does not own any fixed assets other than Land and Land Development.200. As per company's audit. or manufacturing or importing. Jagadish Gajanand Dalal.04 0. 31. subscribed 3.10 each fully paid-up 3.10 (ten) Fashion Limited. depreciation 2.000 4·54 Details of shareholdings are as under: No.600 700 700 3.1 Policies Basis ofthe Preparation of Financial Statements Theseflnancial statements have been prepared underthe historical cost convention in accordance with International Accounting Standards as adopted in Bangladesh. Status and Activities 1. cloth or other manufactured fabrous products. a private company Companies Act.05 320.000 (fifty crores) divided in to 50. Mr.000) ordinary Tk.705 29·39 ~ .765 4.Jayesh Kantilal Shah Mr.705 29·39 2. rate.000 700.529. import.529.2011 ~ in Lacs* 31. Share Capital Authorized 50.529.Notes to the Financial Statements to 31March.10 each and paid-up capital: shares of 500.03.71 4.2 Activities The company was established exporting sale.20. under the capital Tk.200. export yarn.454.05 0.2 Depreciation on Fixed Assets policy.000 4·55 shares@ 64.2010 31. Subsequentlythe zo. 1994.3 General a) b) Figures in the financial statements Dollar amount has been converted have been rounded offtothe using average conversion nearest Taka.2011 Taka 3.03.000 7.000.000 7. Jagdish Gajanand Dalal 318.04 19·64 27·81 103·90 131. straight line method isfollowed for charging depreciation on fixed assets ofthe company.000 3.000. Mr.186.03.000 4·45 0. weaving. with authorized each.000 Issued.060 21. 2011 1.03. Significant Accounting 2.000 (five crores) shares of Tk.000.000 7.925.71 686.70 4.000 700.000 (Previous Year 70.ooo (seventythousand) limited by shares.2010 Taka ~ in Lacs** capital: ordinary shares of Tk. or dealing in cotton or other fabrous substances and the preparation.000 19·56 0. of share Name ofthe shareholder Arvind Limited. Share Premium 700.Arvind Kantilal Shah and Mr. was incorporated in Bangladesh on 25 September 2006. dyeing or coloring of any ofthe said substances and the 2.000 4.000 500.000 7.500.000 shares@ 67.705 16. 2.

564.03.2011 ~ in Lacs* 31. Capital Work-in-Progress Opening Balance Add :Addition duringthe (Building) Year 44.2011 Taka ANNUAL REPORT 2010 .24 Taxes and Duties Business Development 6.128.308 25.03.08 0.310 443.633 Expenses 21.71 69·93 2010-11 ~ in Lacs* 98.857.425.060 126.64 2.849 11.05 19.776 7· Cash and Cash Equivalent Cash in Hand Cash at Bank: 112.25 119.500 1.2010 Taka ~ in Lacs** 5· Share Application Share Application Less: Transfer to Share Capital & Share Premium on Allotment Add: Share Application received duringtheyear 19.563 *The rupee equivalent **The rupee equivalent ofTaka ~ has been given at the inter bank rate as on 31st march.060 73.88 2009-10 2009-10 Taka ~ in Lacs** 8.000 119.03.ARVIND TEXTILES MILLS LIMITED 31.776 44.2010 31.308 0.423.564.61) = 0.425.038.05 6.61 19.776 275·38 275·38 275·38 0.857.206 11.24 2.392.857.65) .715. 2010 (1 Taka ~ = 0.2011 31.000 73.00 AjC # 05420035420001 AjC # 05420087520001 6.646 0.224 328.336 345.338.25 451.61 451.060 126.045 5.02 2.002.22 37·07 68·33 12.69 Less: Transferred duringthe Year 44.02 8.277. 2011 (1 Taka ~ ofTaka ~ has been given at the inter bank rate as on 31st march.03. Operating Lease rental Bank charge Expenses 3.425.16 0.609 2010-11 Taka 38·53 30.425.060 19.000 37.

05 20.02 16.05 0.50 159.01) 0. 2/ statements ofthe 2011 (No: 5/12/2007-CL-III) dated 8th February.24 (0.05 10.01) 0.06) (0.58 29·81 0.07 2.20) 10.01 102·77 25.00 383-43 427. with thefmancial furnished as under: interested Shareholders subsidiaries under Section 212(8) of Com panies Act.51) (0·57) (2].00 0. As required. Investment in Govt.38 3.67 1.07 29.05 (b) (61.07 0-45 10.08 (0.41) 31.10 0.25 (e) [lJ [2J [3J [3J [3J [4J [3J [3J [3J [5J [6J (f) 565. No.58 191.10 179.86 0.27 (0.06) 0·54 17.56) (22.08 2.13 (d) 460. 2011 by Ministry of Corporate Affairs granting general approval under Section 212 (8) of the Companies Act.17 (0.01) Proposed Dividend (a) 1 2 3 4 5 6 7 8 9 10 11 Arvind Products Limited Asman Investments Limited Arvind Worldwide Inc.67 1-46 273.23 25-43 1.61 0.65 9·89 70. Securities Investment in Partnership Firm Investment in Partnership Firm 0.36 22.14 0.NOTE UNDER SUB-SECTION (1) OF SECTION 212 The Ministry of Corporate Affairs has.10 96. granted a general Company is of the exemptiontotheCompanies companies.28 - 0.60 0.01) Nil < in crores [lJ Fully paid Equity Shares(Quoted) Fully paid Equity Shares(Unquoted) [2J [3J [4J [5J [6J Not applicable being Investment Subsidiary These Companies have no Investments.00 221·96 304.19S6 : < in crores Sr.09 0.06) 0.00 . the information of Company's interest be attached in respectofthesubsidiary in aggregate for each ofthe subsidiary or stand-alone financial in obtaining the statements in the subsidiaries statements may obtain it by writing it to the Company.05 0.35 (1.87 20.03 137.01 1.05 17.81 457.14 (0.05 1.05 5. relatingtothestatementsto Companies.00 0.63 (0.24) 0.67 1·59 0. Arvind Worldwide (M) Inc. vide its General Circular No. 2011.05 3-40 0.51 (0.06) 0.01 [3J 0.80 132. The information as required by a general circular dated 8th February.00 (0.00 12 0.30 0.05 0. Name of Subsidiary Capital Reserves Total Assets Total Liabilities Details of Investment Turnover Profit/CLoss) Provision before for Taxation Taxation (g) 0-40 1.00 (j) Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil 0. 1956.30 (0.13) - 0·73 7.81 0.82 2.00 (0. Arvind Retail Limited Arvind Lifestyle Brands Limited Syntel Telecom Limited Arvind Accel Limited The Anup Engineering Limited Arvind Infrastructure Limited Arvind Brands & Retail Limited (Formerly known asSilverstone Properties Limited) Ahmedabad East Infrastructure LLP 141.01) (h) - Profit/ (Loss) after Taxation (I) 0-40 0·98 0.82 (c) 540.19 23.32 57.

Sub: Green Initiative in Corporate Governance We wish to inform you that in orderto the Corporate Governance by permitting 29.as a member ofthe Company. Opp. kindly update your E-mail ID inthe DematAccount mode. Directors' Report and n provisions ofthe Information Tech nology Act.04. E-mail updated in the Demat Account would be used to send documents through electronic For Shareholders holding shares in Physical Form In caseyou desireto receivetheaforesaid your E-maillD withthefollowingdetailsto documents in electronic mode in lieu of physical mode. Devnandan Mall. zooowhich mode and has clarified that the service of documents Henceforth.2011 afterconsideringcertai promote Green Environment. Audited Financial Statements.: E-maiIID: Please notethat. Sanyash Ashram.Ahmedabad arvindltd@shareproservices.Ahmedabad Weare certain that you would appreciatethe"Green Initiative"taken by MCAandyour company's desireto participate in such initiatives. Bhimani Company Secretary . bya Company can be made through electronic we propose to send all communications/documents including notices calling AGM. Ellisbridge. Sharepro Services (India) Private Limited aq16-42o. The signature mentioned inyour letter should be matched as per specimen signature recorded with the company. kindlyupdateyoure-maillDwith Devnandan Mall.comwithascancopyofletter our Registrarand Share -380006 by mailing Transfer Agent. 17/2011dated 21. Folio No. the Ministry of Corporate Affairs. free of cost.you Name: Mode of dispatch: Electronic mode will be entitled to be furnished. kindly comply with thefollowing: For Shareholders holding shares in Demat Form documents in electronic mode.2011and Circular No. Auditors' Report in electronicform In orderto receiving the documents tothe E-maillD provided/updated in electronicform. V.ANNUAL REPORT 2010 . Ellisbridge. with a printed copy ofthe Balance Sheet ofthe Company Profit and Loss Account and Auditors' Report and all other communication and all other documents required by lawto be attached thereto includingthe that may be sent to you. New Delhi (MCA) has taken "Green Initiative" in rough electron ic paperless compliances byCompaniesvide its Circular No. R.2011 Dear Shareholders. byyou and made availableto us by the De positories. 18/2011dated provides the validity ofsendi ngdocumentsth mode instead of physical copy ofdocument(s). Opp. duly signed byyou. Members who have not yet dematerialized their shares are requested to gettheir e-maillDto receive documents shares dematerialized at the earliest. You mayalso send your consent incorporating in electronic mode in writingto the following address : Sharepro Services (India) Private Limited at 416-420.04. by contactingyour Depository In case you desireto receivetheaforesaid Participant. upon receipt of a requisition from you to this effect. our Registrarand Share Transfer Agentto -380006. SanyasAshram.

Ahmedabad . Near Law Garden. : NSDL/CDSL _ __ _ _ _ 025 not less ARVIND LIMITED Regd. (3) The completed form should be deposited atthe Registered Office of the Company at Naroda Road.ID *CLIENTID * FOR SHARES HELD IN ELECTRONIC FORM FULL NAME OFTHE SHAREHOLDER: (IN BLOCK LETTERS) NO. L. 7. day of Affix September. * Depository: *DP. NSDL/CDSL 3. 2011 at 10. *Depository *DP. IjWe ________________________________________ being a member orfailinghim inthe District of of 2011 and at any adjournment of in th e D istri ct of hereby appoint _ _ _ asrny/our th _ of / members of the above named Company _____________________________________ in the D istri ct of of orfailing him in the District of proxy to vote for me / us on my / our behalf at the Annual General Meeting of the Company to be held on Friday.F. Signed this 2011. ATTENDANCE SLIP I hereby record my presence attheAnnual .380 025. (2) A proxy need not be a member.Ahmedabad _ _ _ __ _ _ _ on 30th September. Office: Naroda Road. 2.ID *Client ID * For Shares held in Electronic Form No. 4. Signature: _ 15 Paise Revenue Stamp L.380 025.Ahmedabad-gao than 48 hours before the time for holding the meeting.380006 1.30 a. the 30 thereof. Ellisbridge. .FORM OF PROXY ARVIND LIMITED Naroda Road.m.OFEQUITYSHARES HELD: SIGNATURE OF THE SHAREHOLDER ORPROXYATTENDING: (PLEASE GIVE FULL NAME OF THE 1ST JOINTHOLDER) _ MR/MRS/MI SS (TO BE USED ONLYWHEN FIRST NAMED SHAREHOLDER IS NOT ATTENDING) NOTE: PLEASE FILL IN THIS ATTENDANCE SLIP AND HAND IT OVERATTHE ENTRANCE OFTHE HALL. General Meeting held atThakorebhai Desai Hall.F. Ahmedabad . 5.No.ofShare(s) held Notes: (1) A member entitled to attend and vote is entitled to appoint a proxy to attend and vote instead of himself. 6.NO.

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3. Naranpura. Panchsheela Towers. Sir Thyagaraja Road. West Bengal M/s. P. KPHB Colony.M. Valid Upto 30. Arvind Experience Store. Trikon Baug. Mehsana. Mercury -I. Kolkata -700 001. 250-00 6-00 P.3&4. 7Seas Mall. 250-00 I Time: 11-00 A. Doshi Cloth Stores Maherali Chowk. Central Spine. Date Bill No.30-15-165 Shop No.500072 M/s Sri lakshmi Narasimha D.380013 Krishna.M. Sharan pur Rd. Maruti Near Praygra School. Ghod-dod Road. Date _ :A Rs. Shop No. Gandhinagar. 5-4-9.380 025. Dabhol. 5-1-65. Khammam-507001 (AP) M/s Suitings & Shirtings :A Rs. Abhinandan Mahatma Gandhi Road.M.G-2 ChitrakutYojna. Ajmatpura. 144/A. MG Road. Ground Floor. Two Police Station Main Road. Shalimar Theatre. Vidhyadhar Nagar. Mumbai . Bhuj (Kutch).09. Pune -411002 Arvind Experience Store lakshmi Chhaya. Budhwar Peth. Bhavnagar. Arvind Experience Store 3-6-476. HemangStores Bazar.Silicon Valley. P. Rajula City. Office: NARODA The holderofthiscoupon will beentitledto ROAD. NearGandhi Park Avinash Retail. Sardar Chowk. Prakasham Bazaar. Old Collectorate Complex.Road.G. MPl No. Nalgonda-508oo1 I r-----------------I Arvind Limited : Fabric Coupon I A Rs. Naroda Road. ChikhalL Royal Cloth Centre Rohit Bhavan.532001. NearThree Gate Tower.N. Jograj & Co.6-"-740/5/A. ist Floor.M. Ahmedabad Doshi ShashikantChhabiidas Inthe lane of Dave Medical.1/2 Nagar Palika Shopping Centre. Near IPCl Circle.&Co.09. Mail Road Dilsukhnagarl-lyderabad-gooceo Lalbhai Sales & Services Asoka Spintex Premises. Nadiad.302023 Arvind Experience Store NO. 1. G1& G2. Daman Arvind Experience Store 842.Jamnalal Kolkata-700007M/s. Opp. I Arvind Limited I • I FabriC Coupon Mis Pavan Retails. Patel Maganlal Motiram Darjee Chaklo. Hyderabad -29 and 12. Vizianagaram . Gujarat Mis. 35. Near RajivChowk. Hyderabad . ist Floor. 2. Valsad.Surat.S..Srikakularn . Durgachak. Nakkalagutta. 118. M/s. Sai NagComplex. Arvind Experience Store Kuber Arcade. S. Parklane. to I Bill No.Shree Chambers.2012 Date Mis Shree Sati Arvind Exciusive. Rajkot . I Valid Upto 30. Una. Gujarat Arvind Experience Store Shop No G-5. Porbandar . Chandkheda. BardolL 'Utsav Plus'. to I BilINo. Millenium Tower. G. No. to I BilINo. Nilkanth Mahadev.Arvind Experience Store. Babhai Naka. Surendranagar.360001 Ratnam. Himayat nagar. Road.1.i.500003 Shri Sati Arvind Exclusive.M.2 Shah Kuberlal Nathalal Tower Bazar. Haldia -721 602. Jaipur . East Godavari Distt. Synthetic. TS No: 24/4 Part. 424001. 20. . . Fashions.5% discount 'Sajan' Jawahar Road. Gujarat Krishna House of Cotton 22. Kolkata Baja] Street.M. to 6-00 I Bill No.ioas Khol Galli.09. ltd. College Road. Ahmedabad -382424 N V Inc.) Roopkala Cloth Centre Opp. Secunderabad . Sharad Shopping Complex. F105/106Sopan Complex.09. Next to The Raymond Shop. billimora NanakSaree Centre vaniawad. Siddharth Textiles 15.92 Vivaan Garments. 11. 1/461. Aavkar Cloth Stores 9. Baroda Gujarat . Suryodaya. Valid Upto30.-40-1-52/5 M. RajivGandhi Bhavan. I M/s. Vijayawada-52oolO Shree Sati Arvind Exclusive. Groundfloor. Unjha. to 6-00 P.G-3. Shiranjani Cross Rd. Arvind Experience Store.Arvind Near Daba Theta. Bansidhar Station Road. Stand. Bharuch SalotChuniial Ratilal Herish Road. Dabagardens. Mukund A-l.M. Ahmedabad .Road.G. Syamcanarya. Kargil Hero Kuty. Sardar Patel Stadium. Bhayani Brothers Bedi Gate. Swastik Char Rasta.No. Kukatpally.•Ahmedabad -380009 Pratik Cloth Stores Near S. Arvind Experience Store. Dhulia Arvind Experience Store Shop NO. Super Market. H No. kalptaru.2012 6-00 P.396007 Arvind Experience Store Shop G-02 laksh Prime. Ltd. Anand.Murali Silks.M.M. opp. M/s.Opp. Arvind Experience Store 9-7-112. T.2012 P. Opposite Town Hall.302001 A.-----------------I Arvind Limited I Fabric Coupon I I A Rs. Arvind Experience Store Shop No.M.AHMEDABAD tgss discount onthe . Valid Upto 30. Arvind Experience Store Road No.Stadium Rd.500-00 : Time: 11-00 A. Maradia Plaza. Chennai -600017 Arvind Experience Store.No. priceofcloth of Arvind Limited at and Arvind Products Ltd. Asgarali Emporium Killapardi. Janta Cloth Store Bazar Street. I Valid Upto 30. Ahmedabad 380 025 Arvind Experience Store Shop No: 8. Jay Sati Creations. Palakonda Road. Nextto HDFC Bank. New CG Rd.2.Chandraprabhu Complex. Kavi Khabardar Marg. Rajshree Cinema Road.09. Asst. Jaipur 21 M/s. Nagar. purchased at any Retail Shop in Ahmedabad other Retail Shops mentioned below: This facility is not available on purchases against Credit Cards.2012 Date 700007. Shah Chatrabhuj Nanchand Jawahar Chowk.ldar.Noormal-Lohia Lane. Jamnagar. Daya Apparels G33-G34 Unnati Tower.G. 2-5-291/1. Marg. AksharComplex. 500-00 6-00 P. Ahmedabad .Opp HDFC Bank. Warangal Murli Silks. 250-00 I Time: 11-00 A.09. Borivali West. Laxmi Road. Ashram Rd.380015 Krishna Krishna. Jamnagar.Opp City Post Oflice. Valsad.Ground Floor. Ahmedabad .Grand Sitara. Sapthagiri Mens Exclusive. Shop NO. Shop NOA Kakadia Complex. L : Arvind Limited I Fabric Coupon Valid Upto 30.M. New York. D. I Time: 11-00 A. Satellite. Kasba Bazar.380009 Sri Sai Apparel. 5. Hirachand Kalidas J. Malpani Pride.No:1195P. Chowk Ward. Visakhapatanam (AP) Pin Code 530020 ShreeSati Arvind Exciusive. Uday Bhawan M.Arvind Limited Regd. Kalol (N.IClCI Bank. IT Road. Kapadvanj. Date 1. NO. Municipal Commercial Centre. D. Sector No. Vis nagar.Amreli BombayTextorium Pvt. Armenian Street. M. Hanrnkonda. 20-21. Ground Floor. CG Rd. Nr. Surendranagar. Vaishali Nagar. Nr.360575. Jaipur. Nasik.M.2012 6-00 P. r-----------------I Arvind Limited : Fabric Coupon I A Rs.535001 Experience Store r-----------------I Arvind Limited : Fabric Coupon I A RS. Reliable Filaments P. Fatehgunj. CG Road. to I BilINo. Kakinada. 250-00 I Time: 11-00 A. Dist.2012 Date I Time: 11-00 A. M.532001.330. Arvind Experience Store 3-5-291/A. Karirnnagar-gogoot M/s. Yogi Selection.

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com Arvind Limited Apartment No.com Arvind Denim Lab 584. India Tel: +91-79-30137200/30137231 Fax:+91-79-30137350 brijesh.bhati@arvind. + (212)768 -4815X104 raju@arvindusa. India Tel: +91-79-22870622-23 Fax:+91-79-22870642 an up@anupengg.40488775 Fax:+91-80-40488751 venkat@arvindbrands.307901 00 Fax:+91-80-30790111 Arvind Murjani Brands Private Limited 4 Brunton First Cross Road Bangalore 560025 Tel: +91-80-41124091 Fax+91-80-41124092 AryaOmnitalkWireless Solutions Private Limited 3rd Floor. Kowloon.M. India Tel: +91-2764-395560 Fax:+91-2764-395040 pranav. Ahmedabad . Broadway.com Arvind Retail Limited Floor. Rajesh Manwani arvindmills@netvigator.382721 Gujarat. White Field Road Mahadevpura Post Bangalore 560048 Tel: +91-80-33717000 Fax: +91-80-41123909 ashish.anilkumar@arvind. Honkong. India Tel: +91-79-30138000 Fax:+91-79-30130267 subir. Near Bangalore University Bangalore 560 059 Tel: +91-80-26999000 Fax:+91-80-26999299 sandeep.No 66/67.mehta@arvind. Telfax: 00852-35283112 Contact Person: Mr.com s" Overseas Offices Arvind Worldwide Inc. Ling Field Plaza S. 15 Road No.55. 17th Floor Trendy Centre. Suite 603. India Tel: +91-2764-395410 praney. 6th Floor New York. Odhav Road.kumar@arvindexports.380022 Gujarat.27/2 Kenchenahaili Mysore Road. 682-684 Castle Peak Road.com Subsidiaries Be Joint Ventures Arvind Products Limited Arvind Limited Premises Naroda Road.Shirts Arvind Limited NO. Puttapa Industrial Estate. USA Tel.M. Du Parc Trinity 17.com Arvind Limited Unit: 1705.com . Suite 801 New York New York 10012. Road Bangalore 560001 Tel: +91-80. USA Tel.in Lifestyle Apparel. Taluka Kalol Dist Gandhinagar.com The Anup Engineering Limited Behind 66KV Sub Station.com Lifestyle Fabrics -Voiles An ku r Texti les Arvind Products Limited Outside RaipurGate Ahmedabad . Bangalore 560 001 Tel: +91-80. Dhaka 1212.382415 Gujarat. Khakis and Knitwear Arvind Limited PO Khatrej. G. India Tel: +91-79-30138000 Fax:+91-79-30138668 Arvind Lifestyle Brands Limited 8th Floor.380025 Gujarat. Du Parc Trinity 17. House No. G. 5A.in Lifestyle Apparel-Jeans Arvind Limited 26/2. 130 West 42nd Street. Ahmedabad . + 12124314256 viresh@arvinddenimlab.Bangladesh Tel: + 8802-9887123-24 Fax:+8802-9887124 p. Road. Taluka Kalol Dist Gandhinagar -382 721 Gujarat. Pune 411040 Tel: +91-20-26851072.Denim Arvind Limited Naroda Road Ahmedabad .in Lifestyle Apparel-Knits Arvind Limited PO Khatrej. Cheung Sha Wan. NY 10036. Level 9 Bagmane Tech Park CV Raman Nagar Bangalore 560 093 Tel: +91-80. 40118100 Fax: +91-20-26851077 vmalhotra@aryaomnitalk.chablani@arvindexports.Location Be Sites Lifestyle Fabrics .380025 Gujarat.41550650 Fax:+91-80-41550651 su reshj@arvindbrands.dave@arvind.in Lifestyle Fabrics . Salunke Vihar Road Wanowrie.com VF Arvind Brands Private Limited Laurel Block B. 8th Floor.Shirting.mukherjee@arvind. 24 CWN (C) gulshan-2.

please return to: Arvind Limited N aroda Road.380 025 .BOOK-POST If undelivered. Ahmedabad .