2007-08 - Aditya Birla Nuvo, Ltd

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THE CHAIRMAN’S LETTER TO SHAREHOLDERSperformance culture. This team’s sole responsibility is to assist in Institutionalising world-classperformance framework and leadership processes.As in the past our high-calibre Management talent have been put through our DevelopmentAssessment Centres and their professional development plans drawn up. Gyanodaya, our Instituteof Management Learning continues to provide a good base for new learnings for our people, andhoning competencies. Up until now more than 4,500 colleagues have participated in its programmes.We had said last year that we would introduce ESOP schemes during the course of the year.In this year, we covered 700 employees under ESOP schemes, a significant move, for the first time inthe history of our Group. And, we will cover many more from now on.Going forward in the next five years, I see our workforce mix expanding to over 100 nationalitiesand our senior management team becoming even more global. I visualise a multi-generationalworkforce able to overcome generational barriers, and effectively, feeding on each one’s core offeringsof experience, raw energy, risk taking and organisational knowledge. Enhancing our attractivenessas an employer also calls for creating a workspace that accepts and encourages the existence of asharp sense of individual identity, even within the strong organisational brand and cultural fabric.We want to create top-notch leaders on virtually an assembly-line scale. And lastly, we want to bein that enviable position where the best talent globally wants to join us, just as much as weseek them.Best regards,Yours sincerely,Kumar Mangalam Birla(6)
ADITYA BIRLA NUVO LIMITEDBOARD OF DIRECTORSEXECUTIVESMr. Kumar Mangalam Birla, ChairmanMrs. Rajashree BirlaINDIAN RAYONMr. H. J. Vaidya Mr. K. K. Maheshwari Business DirectorMr. B. L. Shah Mr. V. G. Somani PresidentMr. P. MurariMr. B. R. GuptaMs. Tarjani VakilHI-TECH CARBONMr. S. C. Bhargava Mr. Rakesh Jain Business DirectorMr. G. P. Gupta Mr. S. S. Rathi Executive PresidentMr. Rakesh JainMr. Vikram RaoMr. K. K. MaheshwariMADURA GARMENTS & JAYASHREE TEXTILESMr. Adesh Gupta Mr. Vikram Rao Business Director -Dr. Bharat K. Singh Mr. J. C. Soni President (Jayashree Textiles)Mr. Ashish Dixit President (Madura Garments) -Mr. Partho Kar Chief Operating Officer -MANAGING DIRECTORMadura Garments Export Ltd.Dr. Bharat K. Singh Mr. Aloke Malik President -Peter England Fashions & RetailMr. George Santacroce President -Madura Garments Lifestyle RetailINDO GULF FERTILISERS*CHIEF FINANCIAL OFFICER AND Mr. S. K. Jain Sr. PresidentWHOLE-TIME DIRECTORMr. Adesh GuptaADITYA BIRLA INSULATORS*Mr. Jayant DuaChief Executive OfficerCOMPANY SECRETARYBUSINESS PROCESS OUTSOURCING AND SOFTWARE*Mr. Devendra Bhandari Mr. Dev Bhattacharya Group Executive PresidentMr. Sampath Iyengar Chief Executive Officer -PSI Data Systems Ltd.AUDITORSKhimji Kunverji & Co., MumbaiS. R. Batliboi & Co., Mumbai ADITYA BIRLA FINANCIAL SERVICESMr. Ajay SrinivasanChief Executive OfficerMr. Vikram Mehmi President & Chief Executive Officer -Birla Sunlife Insurance Co. Ltd.Mr. Sushil Agarwal President & Chief Executive Officer -OTHER BRANCH AUDITORSBirla Global Finance Co. LtdK. S. Aiyar & Co., Mumbai Mr. Anil Kumar Chief Executive Officer -Deloitte Haskins & Sells, BangaloreBirla Sun Life Asset Management Co. LtdMr. Ravi Sharma Chief Executive Officer -Birla Sun Life Distribution Co. LtdSOLICITORSMulla & Mulla and Craigie, Blunt & Caroe, MumbaiContentsTELECOMMr. Sanjeev Aga Managing Director -Idea Cellular Ltd*Dr. Bharat K. SinghBusiness DirectorFinancial Highlights ............................................................. 8 Directors’ Report ....................................................................................... 57Management’s Discussion and Analysis ................... 11 Auditors’ Report ......................................................................................... 74Corporate Governance Report ..................................... 31 Balance Sheet, Profit and Loss Accounts and Schedules ........ 78Social Report ........................................................................ 41 Cash Flow Statement ............................................................................ 120Environment Report .......................................................... 44 Consolidated Financial Statements ................................................ 123Shareholder Information ................................................. 46 Statement Relating to Subsidiary Companies ........................... 152(7)
Page 2 and 3: Mr. G. D. Birla and Mr. Aditya Birl
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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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SCHEDULESSCHEDULE 19 (Contd.)SIGNIF
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SEGMENT DISCLOSURES FOR THE YEAR EN
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CASH FLOW STATEMENT FOR THE YEAR EN
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AUDITORS’ REPORT ON THE CONSOLIDA
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CONSOLIDATED PROFIT & LOSS ACCOUNT
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SCHEDULES FORMING PART OF CONSOLIDA
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SEGMENT DISCLOSURES FOR THE YEAR EN
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CONSOLIDATED CASH FLOW STATEMENT AS
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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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