2007-08 - Aditya Birla Nuvo, Ltd

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SCHEDULES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS7. On April 03, 2007, the Reporting Company purchased remaining 1% stake in its subsidiary ABIL from NGK Insulators,Japan, thus making it a wholly owned subsidiary. Thereafter, ABIL was merged with the Reporting Company w.e.f.April 01, 2007, on receiving the Gujarat High Court’s approval on July 31, 2007.8. In accordance with the Members approval in the extra ordinary general meeting of the Company held on February06, 2008, the Company has, on a preferential basis, issued 20,500,000 Warrants of Rs. 10/- each to the Promoter and/or Promoter Group, pursuant to the provision of the Securities and Exchange Board of India (Disclosure andInvestor Protection) Guidelines, 2000.The holder of each warrant is entitled to apply for and obtain allotment of 1 Equity Share at a price of Rs. 2,007.45(face value of Rs. 10/- at a premium of Rs. 1,997.45 per share) against each warrant at any time after the date ofallotment but on or before the expiry of 18 months from the allotment in one or more tranches. As per SEBIGuidelines, an amount of Rs. 411.43 Crores equivalent to 10% of the price has been received from the Promoterand/or Promoter Group of the Company.On March 31, 2008, the Company has received Rs. 307.14 Crores (net of receipt of Rs. 34.13 Crores received onallotment of warrant) on exercise of 1,700,000 Share Warrants of Rs. 10/- each to the Promoter and/or PromoterGroup.Out of the total amount of Rs. 718.67 Crores received from the preferential allotment of the warrants, Rs. 621.17Crores have been utilised. The balance amount of Rs. 97.50 Crores is invested in Mutual Funds.CONSOLIDATED ACCOUNTS9. IDEA Cellular Limited (IDEA) application to Department of Telecommunication (DoT) for transfer of telecom licences,held in the name of the erstwhile subsidiaries (which stand merged with the IDEA), i.e., Idea Mobile CommunicationsLimited, Idea Telecommunications Limited and BTA Cellcom Limited, is pending for procedural approval. The Auditors,have drawn attention to this matter. IDEA Management have confirmed that it meets the licensing condition laiddown for transfer of licences in case of amalgamation and expects to receive this procedural approval in theensuing period.10. The CFS of Minacs Worldwide Inc, Canada (MWI), and Financial Statement of Aditya Birla Minacs Philippines Inc.have been prepared under Canadian and Philippines Generally Accepted Accounting Principles (GAAP)respectively. They are restated as per Indian GAAP for the purpose of Consolidation.11. AVGTHL, TW Inc. & Aditya Birla Minacs Philippines are considered as integral operations. In case of AVTL and MWIConsolidated Financial Statements, the operations are considered as non-integral.12. Disclosure in respect of Related Parties pursuant to Accounting Standard-18a) List of Related Parties:AssociatesBirla Securities LimitedCrafted Clothing Pvt. Limited (on becoming subsidiary ceased to be an Associate w.e.f. August 03, 2006)Key Management PersonnelDr. Bharat K. Singh – Managing Director (w.e.f. November 01, 2006)Sanjeev Aga – Managing Director (upto October 31, 2006)Adesh Gupta – Wholetime DirectorK. K. Maheshwari – Wholetime DirectorDr. Rakesh Jain – Wholetime Director (w.e.f. April 03, 2006)S. K. Mitra – Wholetime Director (w.e.f. July 01, 2006 and upto July 31, 2007)Vikram Rao – Wholetime Director (w.e.f. November 01, 2006)(142)
SCHEDULES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTSRelatives of Key Management PersonnelUsha Gupta (Wife of Adesh Gupta)Sharda Maheshwari (Wife of K. K. Maheshwari)Sushmita Mitra (Wife of S. K. Mitra) (w.e.f. July 01, 2006 and upto July 31, 2007)Vidya Rao (Wife of Vikram Rao) (w.e.f. November 01, 2006)Enterprises having common Key Management PersonnelTanfac Industries Limitedb) For transactions carried out with the related parties in the ordinary course of the business referAnnexure – I13. Earnings per Share (EPS) is calculated as under:Rs. CroresParticulars FY 2008 FY 2007Net Profit after exceptional items as disclosed inProfit & Loss Account 150.78 280.89Less: Preference Dividend of BGFCL 1.93 —Net Profit for EPS (A) 148.85 280.89Weighted-average number of Equity Shares Outstanding 93,310,491 84,766,362Add: Adjustment for Bonus element in rights issue — 3,114,714Weighted-average number of Equity Shares Outstandingduring the year for calculation of Basic EPS (B) 93,310,491 87,881,076Basic EPS (Rs.) (A/B) 15.95 31.96Weighted-average number of Equity Shares Outstanding 93,310,491 84,766,362Add: Shares Held in Abeyance 45,007 47,874Add: Adjustment for Bonus element in rights issueincluding for shares held in abeyance — 3,115,536Add: Dilutive Impact of Employee Stock Options 6,198 —Weighted-average number of Equity Shares Outstandingduring the year for calculation of Diluted EPS (C) 93,361,696 87,929,772Diluted EPS (Rs.) (A/C) 15.94 31.95Nominal Value of Shares (in Rs.) 10.00 10.00CONSOLIDATED ACCOUNTS14. Assets on Leasea) Assets taken under Operating LeaseThe details of future rental payable onnon-cancellable operating lease are given belowNot later than one year 128.27 47.35Later than one year and not later than five years 253.45 154.30Later than five years 115.53 86.14(143)
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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
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SHAREHOLDER INFORMATIONAccordingly,
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DIRECTORS’ REPORT TO THE SHAREHOL
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ANNEXURE ‘A’ TO THE DIRECTORS
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ANNEXURE ‘B’ TO DIRECTORS’ RE
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AUDITORS’ REPORT TO THE MEMBERSAn
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AUDITORS’ REPORT TO THE MEMBERS(x
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PROFIT & LOSS ACCOUNT FOR THE YEAR
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SCHEDULESSCHEDULE 2RESERVES & SURPL
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SCHEDULESRs. CroresAs atAs atFace V
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SCHEDULESSCHEDULE 7INVENTORIESAs at
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SCHEDULESRs. CroresYear EndedYear E
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SCHEDULESSCHEDULE 19SIGNIFICANT ACC
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Page 164: ADITYA BIRLA NUVO LIMITEDRegistered
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2007-08 - Aditya Birla Nuvo, Ltd

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