2007-08 - Aditya Birla Nuvo, Ltd

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SCHEDULESSCHEDULE 19 (Contd.)SIGNIFICANT ACCOUNTING POLICIES AND NOTES ON ACCOUNTSb) Derivatives : Outstanding as at Balance Sheet DateAmount in Foreign CurrencyAs at 31 st MarchParticulars Currency 2008 2007 PurposeCurrency and Interest Rate Swap USD — 2,000,000 Hedging of LoansCurrency and Interest Rate Swap Jyen 11,900,500,000 7,251,850,000 Hedging of LoansBuyers Credit Jyen 8,110,215,428 — Hedging of LoansUSD 99,802,055 31,906,071 Hedging of LoansForward Contracts USD 46,258,805 68,454,603 Hedging PurposeJyen 13,400,000 32,100,000 Hedging PurposeEuro 1,808,522 229,513 Hedging PurposeAUD 5,900,726 — Hedging PurposeGBP 1,379,985 — Hedging PurposeAll the above, contracts are for hedging purpose and not for Speculation.c) Foreign currency exposures which are not hedged as at the Balance Sheet Date:Payable Receivables Investments NetUSD 50,181,017 34,058,581 850,000 -16,972,436(8,481,670) (16,467,537) (850,000) (8,835,867)EURO 184,938 1,370,437 1,185,499(339,251) (187,712) (-151,539)GBP 42,094 161,562 119,468(946,500) (213,221) (-733,279)A $ — 40,539 40,539(—) (6,362) (6,362)Jyen 6,413,130 — -6,413,130(2,975,800) (—) (-2,975,800)HKD — 1,724,985 1,724,985(—) (975,000) (975,000)— Figures in brackets represent corresponding amount of previous year.Current YearRs. CroresPrevious Year26. a) Remuneration to Wholetime Directors(Including Managing Director/Manager):Salary 11.55 9.05Contribution to Provident and Other Funds * 1.05 0.92Other Perquisites 1.12 0.70Total ** 13.72 10.67(106)
SCHEDULESSCHEDULE 19 (Contd.)SIGNIFICANT ACCOUNTING POLICIES AND NOTES ON ACCOUNTSCurrent YearRs. CroresPrevious Yearb) Computation of Managerial Remuneration:Profit before Exceptional items and Tax as per Profit and Loss Account 313.82 312.31Add: Managing and Wholetime Directors’ remuneration and commission 13.72 10.67Commission paid to Non-Executive Directors 1.50 1.50Directors’ Fees 0.22 0.35Provision for Doubtful Debts and Advances (Net) 2.33 5.51Provision for Wealth Tax 0.26 0.21Provision for diminution in the value of current investments 3.16 —335.02 330.55Less: Bad Debts written out of Provisions 1.33 —Profit on Sale of current investment as per Profit and Loss Account (Net) 1.19 6.08Profit on Sale of long term investment as per Profit and Loss Account (Net) — 0.68Profit (Net) on Sale of fixed assets as per Section 349 of theCompanies Act, 1956 7.18 2.66Right Share issue expenses charged to Securities Premium Account — 7.44Adjustment for employee retirement benefits provision in General Reserve — 29.01Net Profit as per Section 349 of the Companies Act, 1956 325.32 284.69Maximum permissible remuneration to Wholetime Directors underSection 198 of the Companies Act, 1956 @ 10% of the profitscomputed above 32.53 28.47Restricted as per Service Agreement 13.72 10.67Maximum permissible managerial remuneration to Non-ExecutiveDirectors under Section 198 of the Companies Act, 1956 @ 1% of theprofits computed above 3.25 2.85Restricted as per Board Resolution 1.50 1.50c) Remuneration to Directors in their capacity as Managing Directorsof erstwhile IGFL and BGFL before the Scheme became effectiveSalaries and Allowances — 0.09Contribution to Provident and Other Funds* — —Perquisites — —— 0.09*In the determination of Manager’s remuneration, certain perquisites have been valued in accordance withthe Income Tax Rules, 1962.** Excluding Rs. 0.53 Crores of Gratuity and Rs. 0.41 Crores of Leave Encashment paid out of funds/liabilityprovided in earlier years respectively, hence, not charged in the Profit and Loss Account of the year.(107)
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Mr. G. D. Birla and Mr. Aditya Birl
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THE CHAIRMAN’S LETTER TO SHAREHOL
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THE CHAIRMAN’S LETTER TO SHAREHOL
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ADITYA BIRLA NUVO LIMITEDBOARD OF D
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FINANCIAL HIGHLIGHTS - STANDALONERs
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MANAGEMENT’S DISCUSSION AND ANALY
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CORPORATE GOVERNANCE REPORTGovernan
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CORPORATE GOVERNANCE REPORT1. Manag
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CORPORATE GOVERNANCE REPORTEmployee
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CORPORATE GOVERNANCE REPORTAll the
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CORPORATE GOVERNANCE REPORTMEANS OF
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SOCIAL REPORTTranscending BusinessS
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SOCIAL REPORTMaking a difference -
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ENVIRONMENT REPORTElements for the
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SHAREHOLDER INFORMATION6c. Domestic
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SHAREHOLDER INFORMATION12. Share Tr
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SHAREHOLDER INFORMATION16. Demateri
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SHAREHOLDER INFORMATION21. Per Shar
Page 57 and 58: SHAREHOLDER INFORMATIONAccordingly,
Page 59 and 60: DIRECTORS’ REPORT TO THE SHAREHOL
Page 69 and 70: ANNEXURE ‘A’ TO THE DIRECTORS
Page 71 and 72: ANNEXURE ‘B’ TO DIRECTORS’ RE
Page 77 and 78: AUDITORS’ REPORT TO THE MEMBERSAn
Page 79 and 80: AUDITORS’ REPORT TO THE MEMBERS(x
Page 81 and 82: PROFIT & LOSS ACCOUNT FOR THE YEAR
Page 83 and 84: SCHEDULESSCHEDULE 2RESERVES & SURPL
Page 85 and 86: SCHEDULESRs. CroresAs atAs atFace V
Page 87 and 88: SCHEDULESSCHEDULE 7INVENTORIESAs at
Page 89 and 90: SCHEDULESRs. CroresYear EndedYear E
Page 91 and 92: SCHEDULESSCHEDULE 19SIGNIFICANT ACC
Page 93 and 94: SCHEDULESSCHEDULE 19 (Contd.)SIGNIF
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Page 121 and 122: SEGMENT DISCLOSURES FOR THE YEAR EN
Page 123 and 124: CASH FLOW STATEMENT FOR THE YEAR EN
Page 125 and 126: AUDITORS’ REPORT ON THE CONSOLIDA
Page 127 and 128: CONSOLIDATED PROFIT & LOSS ACCOUNT
Page 129 and 130: SCHEDULES FORMING PART OF CONSOLIDA
Page 151 and 152: SEGMENT DISCLOSURES FOR THE YEAR EN
Page 153 and 154: CONSOLIDATED CASH FLOW STATEMENT AS
Page 156 and 157: ANNEXURE ‘1’ OF STATEMENT PURSU
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STATEMENT PURSUANT TO SECTION 212(8
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ANNEXURE ‘A’ OF STATEMENT U/S 2
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ANNEXURE ‘A’ OF STATEMENT U/S 2
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ADITYA BIRLA NUVO LIMITEDRegistered
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2007-08 - Aditya Birla Nuvo, Ltd

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