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344

WIMCO LIMITED

REPORT OF THE BOARD OF DIRECTORS

TO THE MEMBERS OF WIMCO LIMITED

32017.

2. COMPANY PERFORMANCE

.

.` 1 1 .40 ` 1 4 .2

.7 . ` .7of ` 3 .33 o o o

o ` . 7 o ` 41.1 . o o fo o o o

o o o o o o o .

3. DIVIDEND of o o o o o

fo .4. DIRECTORS AND KEY MANAGERIAL PERSONNEL

(a) Changes in Directors and Key Managerial Personnel during the year

o o o o of o of o o o of o o .

(b) Declaration of Independence by the Independent Directors o of o o o

of o 14 of o 2013 of

o o o of o 2014.

o o of o o o 14 of

of o o o of o 2014 o o o o

o . o o o of o o .

o of o o o o o o of o o o

o o o of o . o of o o

of o o . o o o o

o o o o of fo o .

o o o of o 1 2 of 131of of o o of o . 0007 772 o o o of o off f fo o . o o o

o .

o o of o fo o o o o o

o o Annexure 1 to this Report.

5. BOARD AND BOARD COMMITTEES he it o ittee of the o r prese t o prises r. R. . i hi

h ir r. . er ee r. . h tter ee. he o i tio Re er tio o ittee of the o r o prises r. . h tter ee

h ir r. . er ee r. R. o the e rit ho ers Re tio ship o ittee o prises r. R. . i hi h ir r. .

tt r. R. e tt r. R. o . ri the e r e e 31st r h 2017 the fo o i eeti s of the

o r o r o ittees ere he

o r 3r 2012 th st 20122 epte er 2012 th e e er 20122 r h 2017

it o ittee 3 3r 2012 th e e er 20122 r h 2017

o i tio Re er tio o ittee

1 3r 201

e rit ho ers Re tio ship o ittee

2 2 th st 2012 th e e er 201

he tte e of ire tors of the o p t the o r o r o ittee eeti s he ri the e r is i e e o

Sl. No. Director

Board Audit and

Securityholders Relationship

1. r. R. o . . 1 2 2. r. . er ee 4 3 1 . .3. r. . h tter ee 4 3 1 . .4. r. . R. 2 . . . . . .

. r. . tt 4 . . . . . .$

7. r. R. . i hi 3 . . 2. r. R. e tt 4 . . . . 1

$ ppoi te e er of the e rit ho ers Re tio ship o ittee ith effe t fro 22 r h 2017.

6. DIRECTORS’ RESPONSIBILITY STATEMENT

s re ire er e tio 134 of the t o r ire tors o r h ii fo o e i the prep r tio of the o ts the pp i e

o ti t r s ith proper e p tio re ti to teri ep rt res if

ii se e te s h o ti po i ies pp ie the o siste t e e e ts esti tes th t re re so e pr e t so

s to i e tr e f ir ie of the st te of ff irs of the o p t the e of the i e r of the oss of the o p for th t perio

iii t e proper s f ie t re for the i te e of e te o ti re or s i or e ith the pro isio s of the t for

s fe r i the ssets of the o p for pre e ti ete ti fr other irre rities

i prep re the o ts o oi o er sis e ise proper s ste s to e s re o p i e ith the pro isio s of

pp i e s th t s h s ste s re e te oper ti effe ti e .

7. SUBSIDIARIES, ASSOCIATES AND JOINT VENTURES

he o p oes ot h e s si i r sso i te or oi t e t re.

8. EMPLOYEES

he re tio s et ee o r o p its e p o ees o ti e to e or i ri the e r er re ie . he et i s of top te e p o ees

of the o p i ter s of R e 2 of the o p ies ppoi t e t Re er tio of eri erso e R es 2014 re pro i e i

Annexure 2 to this Report.

9. RISK MANAGEMENT

he o p s ris e e t fr e or esi e to ri ro st ess to the ris e e t pro esses i the o p resses ris s i tri si to oper tio s i s o p i es risi o t of the o er str te of the o p .

e e t of ris s ests ith the e e ti e e e t hi h is respo si e for the to o t of the ff irs of the o p ithi the o er fr e or ppro e the o r . he ter itor of the

o p perio i rries o t ris fo se its ith the o e ti e of i e tif i re s here ris e e t pro esses o e f rther stre the e . he it o ittee re ie s the effe ti e ess of the o p s ris e e t s ste s po i ies.

10. INTERNAL FINANCIAL CONTROLS

o r o p h s i p e e te i ter i o tro s ith respe t to the i st te e ts o e s r te ith its si e s e of oper tio s. he ter itor of the o p perio i e tes the e effe ti e ess of i ter i o tro s. he it o ittee hi h pro i es i e o i ter o tro s so re ie s i ter it i s i p e e t tio of i ter it

re o e tio s.

ri the e r the i ter i o tro s i the o p ith respe t to the i st te e ts ere teste o teri e ess i the esi or oper tio of s h o tro s s o ser e . o ethe ess o r o p re o ises th t i ter i o tro fr e or o tter ho e esi e h s i here t i it tio s or i

re r it re ie pro esses e s re th t s h s ste s re rei for e o o oi sis.

11. PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS

ri the e r e e 31st r h 2017 the o p h s either i e o or r tee or h s e i est e t er e tio 1 of

the t.

34

WIMCO LIMITED

12. RELATED PARTY TRANSACTIONS

ri the e r e e 31st r h 2017 the o p h s either e tere i to o tr t or rr e e t ith its re te p rties hi h is ot t r s e th or h s the o p e tere i to teri o tr t or rr e e t ith the er e tio 1 of the t.

13. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS / COURTS/ TRIBUNALS

ri the e r er re ie o si i t or teri or ers ere p sse the Re tors o rts ri s i p ti the oi o er st t s

of the o p its f t re oper tio s.

14. EXTRACT OF ANNUAL RETURN

he e tr t of Ret r i the pres ri e or o. is e ose s Annexure 3 to this Report.

15. AUDITORS

he o p s t t tor itors essrs. e oitte s i s e s h rtere o t ts ere ppoi te t the i et irst

to ho s h of e ti the o sio of the i et i th . the re o e tio of the it o ittee p rs t to e tio 13 of the t o r o r h s re o e e for the r ti tio of the e ers

ppoi t e t of fro the o sio of the e s i ti the o sio of the i et ifth . the re o e tio of the it o ittee p rs t to e tio 142 of the t the o r h s so

re o e e for the ppro of the e ers re er tio of for the i e r 2017 1 . ppropri te reso tio i respe t of the o e is ppe ri i the oti e o e i the e s i of the o p .

16. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO

o si eri the t re of si ess of o r o p o o e t is re ire o o ser tio of e er te h o o sorptio .

ri the e r er re ie the o p e r e forei e h e of ` . 3 hs hi e the tot o t o of forei e h e s ` .3 hs.

17. ACKNOWLEDGEMENT

he o r o e es the s pport of the o er e t i estors s sto ers s pp iers si ess sso i tes the e i tio h r or of its e p o ees.

eh f of the o r

R. Tandon R. Senguttuvan te th 2017 h ir i ire tor

he o p s Re er tio tr te is esi e to ttr t ret i t e t th t i es its si ess i e o petiti e t e e es the o p to hie e its o e ti es.

he o p s Re er tio tr te hi st fo si o re er tio re te spe ts of perfor e e e t is i e ith rei for es the e p o ee e propositio of s perior it of or ife th t i es e i or e iro e t e po eri e i or t re opport ities to

e r ro .

he o pe s tio ppro h e e o rs to i e h e p o ee ith the o p s o s.

POLICY

t is the o p s po i

1. o e s re th t its Re er tio pr ti es s pport e o r e erito r .

2. o e s re th t Re er tio is r et e t es i to o t the o petiti e o te t of the o p s si ess.

3. o e er e Re er tio s effe ti e i str e t to e h e perfor e therefore to i the re er tio to oth i i i o e ti e perfor e outcomes.

4. o opt comprehe si e ppro ch to Remu er tio i or er to support superior u it of perso or ife i m er so s to u icious ce short term ith o term priorities.

. o esi Remu er tio pr ctices such th t the rei force the omp s ues cu ture to imp eme t them i m er th t comp ies ith re e t re u tor re uireme ts.

1. Remu er tio of e eri erso e e ior eme t is etermi e recomme e the omi tio Remu er tio ommittee ppro e the o r . Remu er tio of i irector ho etime irector er is so su ect to the ppro of the sh reho ers.

2. Remu er tio is re ie e re ise perio ic he such re isio is rr te the m r et.

3. p rt from e e eme ts of remu er tio e e ts e eri erso e e ior eme t re so e i i e for ri e erform ce o us hich is i e to their i i i u perform ce the o er perform ce of the omp .

4. Remu er tio of o eput tio from the o i omp su si i r fe o su si i r ssoci te comp ies is i e to the Remu er tio o ic of th t comp .

o ecuti e irectors re e tit e to sitti fees for tte i meeti s of the o r o r ommittees the u tum of hich is etermi e the o r ithi the imits prescri e u er the omp ies ct 2013 the Ru es thereu er. o ecuti e irectors re so e tit e to reim urseme t of e pe ses for tte i meeti s of the o r o r ommittees e er eeti s.

1. Remu er tio of eme t t ff is ppro e the o r o the recomme tio of the ecuti e eme t ommittee.

2. Remu er tio is re ie e re ise perio ic he such re isio is rr te the m r et. he u tum of re isio is i e to m r et tre s the competiti e co te t of the omp s usi ess s e s the tr c recor of the i i i u emp o ee.

3. ri e co ises for the perform ce r ti of the i i i u emp o ee the o er perform ce of the omp .

1. Remu er tio of o m eme t st ff is m r et e e er es perform ce is ppro e the ecuti e eme t ommittee.

2. Remu er tio of o m eme t u io ise emp o ees is etermi e throu h process of e oti tio s ith the reco ise u io s or emp o ee represe t ti es throu h o term reeme t.

3. Remu er tio comprisi e ri e compo e ts is rri e t se o e chm r i ith re io cum i ustr pr ctices co i i for m r et mics competiti e ess of the u it o er perform ce of the omp s usi ess i i it of s i s i tio cost of i i the imp ct of cost esc tio

pro ucti it i s o prese t future competiti e ess.

34

WIMCO LIMITED

[Information pursuant to Rules 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014]

Age Designation Gross

`

Net

`

Experience (Years)

Date of

deputation

Previous

Position held

1 2 3 4 7

. 33 hief i ci f cer

27 2 4 17 1 1 . om. . . . 10 04.02.201 ssist t er i ce im

ite

. . im e 1 ice resi e t 23 170 14 30 4 . . ro . . . . .

24 04.01.200 eput e er er osmo

i ms t. t .

. . ho e 42 er esi

11 07 0 7 2 . . ech ic

10 1 .07.201 er esi ter tio

t. t .

. . i h 37 er es 10 2 340 4 400 . . . r eti i ce . . ectro ics

. 02.01.2017 tio es er ech ocr ft ustries i

t .

R. . R e 3 er ro uctio

22 00 4 ip om i ech ic

teri s eme t

17 13.0 .201 ro ect er ieme s imite

. . r es i 3 urch se er

7 4 20 1 2 1 B.Tech ech ic

1 07.01.201 er utsourci i ur i

eeri imite

. . h 43 er ccou ts

0 731 4 3 20 B. Com 21 0 .02.200 ccou ts ssist t u or i t t

. m 30 er ro uctio

u it

7 040 0 2 0 . . . 14 1 .11.201 u it Co tro sst. er uriture r ft ter

tio t. t .

. . e o 3 er T 03 1 3 1 B. c. . . .B. 2 1 .0 .1 stem st ter e

me t Computer Co su t ts

. Bho re 34 er es 4 3 1 4 0 440 .B. r eti

. 30.04.201 es ssist t e erm i t. t .

eput tio from TC imite the o i Comp .

otes

respect of emp o ee o eput tio ross remu er tio isc ose s o e is the eput tio cost or e the Comp . or the other emp o ees ross remu er tio i c u es s r ri e p o ces other e e ts pp ic e per uisites e cept pro isio s for r tuit e e e c shme t hich re ctu ri etermi e o o er Comp sis. The term remu er tio h s the me i ssi e to it u er the Comp ies ct 2013.

Cert i emp o ees of the Comp i c u i the emp o ee o eput tio h e ee r te toc ptio s TC imite the o i Comp u er its mp o ee toc ptio chemes t m r et price ithi the me i of the ecurities ch e Bo r of i h re B se mp o ee Be e ts Re u tio s 2014 . i ce such ptio s re ot tr e e o per uisite or e e t is imme i te co ferre upo them such r t of ptio s ccor i the s i r t h s ot ee co si ere s

remu er tio .

c et remu er tio comprises c sh i come ess i come t e uc tio cess e ucte t source emp o ee s o co tri utio to pro i e t fu .

ppoi tme ts e cept i c se of emp o ee o eput tio re co tr ctu i ccor ce ith terms co itio s s per Comp s ru es.

e The fores i emp o ees re either re ti e of irector er of the Comp or ho e uit sh re i the Comp .

eh f of the Bo r

R. Tandon Ch irm te th 2017 R. Senguttuvan i irector

347

WIMCO LIMITED

Annexure 3 to the Report of the Board of Directors

EXTRACT OF ANNUAL RETURN

[Pursuant to Section 92(3) of the Companies Act, 2013 and Rule 12(1) of the

Companies (Management and Administration) Rules, 2014]

I. REGISTRATION AND OTHER DETAILS

i C 242 1 1 23 C0010 2

ii Re istr tio te 7th eptem er 1 23

iii me of the Comp imco imite

i C te or u C te or of the Comp iste u ic Comp imite sh res

ress of the Re istere of ce co t ct et i s i erc ti e Ch m ers

R. m i r B r st te

um i 400001

ho e 022 43 3333

022 22 222

i hether iste comp o

ii me ress Co t ct et i s of Re istr r Tr sfer e t if . .

II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

the usi ess cti ities co tri uti 10 or more of the tot tur o er of the Comp sh e st te

Sl. No.

NIC Code of the product/ service

% to total turnover of the

1. ric tio ssem of m chi er i c u i tu e i m chi es c rto i m chi es r ppi m chi es o i m chi es co e or so utio s.

2 1 100

III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES

Sl. No.

CIN/GLN Holding/ Subsidiary/ Associate

% of shares held in the Applicable Section

1. TC imite

ir i i ouse

37 h r ehru Ro

o t 700 071

1 00 B1 10 C001 o i comp .21 2 4

IV. SHAREHOLDING PATTERN (Equity Share Capital Breakup as percentage of Total Equity)

Category of Shareholders

No. of Shares held at the beginning of the year No. of Shares held at the end of the year % Change during

the year

Physical Total% of Total

Shares Physical Total% of Total

Shares

(1) Indian

i i u

Ce tr o t.

c t te o t. s

Bo ies Corp.

e B s

f ther

1 0 1 1 3 1 0 1 1 3 .21 1 0 1 1 3 1 0 1 1 3 .21

. .

. .

. .

i

. .

. .

18,50,81,193 18,50,81,193 98.21 18,50,81,193 18,50,81,193 98.21 Nil

(2) Foreign

R s i i u s

ther i i u s

c Bo ies Corp.

B s

e ther

. .

. .

. .

. .

. .

– – – – – – – – N.A.

(A) = (A)(1)+(A)(2)18,50,81,193 – 18,50,81,193 98.21 18,50,81,193 – 18,50,81,193 98.21 Nil

34

WIMCO LIMITED

Category of Shareholders

No. of Shares held at the beginning of the year No. of Shares held at the end of the year % Change during

the year

Physical Total% of Total

SharesPhysical Total

% of Total

Shares

B. Public Shareholding

1. Institutions

utu u s

B s

c Ce tr o t.

t te o t. s

e e ture C pit u s

f sur ce Comp ies

s

h orei e ture C pit u s

i thers specif

4 27

4 44

10 0 0

1 0

4 44

14 717

1 0

0.00

0.01

0.00

4 27

4 44

10 0 0

1 0

4 44

14 717

1 0

0.00

0.01

0.00

i

i

. .

. .

. .

. .

i

. .

. .

4,627 16,484 21,111 0.01 4,627 16,484 21,111 0.01 Nil

Bo ies Corp.

i i

ii erse s

i i u s

i i i u sh reho ers ho i omi sh re c pit upto ` 1

h

ii i i u sh reho ers ho i omi sh re c pit i e cess

of ` 1 h

4 2

1 4 00

22 731

1 4 11

1 3

32 33 411

0.0

1.71

4 2

1 02

22 731

1 4 4 2

1 3

32 34 3 4

0.0

1.71

0.00

. .

0.00

. .

c thers specif

o Resi e t i s

2 242 10 0 3 102 0.02 23 2 10 0 34 12 0.02 0.00

16,75,594 16,82,102 33,57,696 1.78 16,78,623 16,79,073 33,57,696 1.78 Nil

Total Public Shareholding (B)=(B)(1)+ (B)(2)

16,80,221 16,98,586 33,78,807 1.79 16,83,250 16,95,557 33,78,807 1.79 Nil

C. h res he Custo i for Rs Rs

. .

Grand Total (A+B+C) 18,67,61,414 16,98,586 18,84,60,000 100 18,67,64,443 16,95,557 18,84,60,000 100.00 Nil

Sl. No.

Shareholder’s

Shareholding at the beginning of the year Shareholding at the end of the year% change in shareholding

during the yearNo. of Shares% of total Shares

% of Shares pledged /

total Shares

No. of Shares% of total

Shares of the

% of Shares pledged /

total Shares

1. TC imite 1 0 1 1 3 .21 i 1 0 1 1 3 .21 i i

Sl. No.

Shareholding at the beginning of the year

No. of Shares % of total Shares of the No. of Shares % of total Shares of the

t the e i i of the e r

o ch e uri the e rte ise cre se ecre se i romoters

h reho i uri the e r

t the e of the e r

Sl. No. For each of the Top ten Shareholders

Shareholding at the beginning of the year

No. of Shares % of total Shares of No. of Shares % of total Shares of

1. Rajdev Singh

t the e i i of the e r 30 100 0.02

te ise cre se ecre se i h reho i uri the e r . . . .

t the e of the e r 30 100 0.02

2. Sardar Gur Bachan Singh




34

WIMCO LIMITED

Sl. No.

For each of the Top ten ShareholdersShareholding at the beginning of the year

No. of Shares % of total Shares of No. of Shares % of total Shares of

3. Biren Dolatrai Nayak




4. Prakash T. Tulsiani




5.




6. Mathura Nath Banerjee

t the e i i of the e r 11 2 0 0.01


t the e of the e r 11 2 0 0.01

7.




8.




9. S. Rajdev Singh




10.




o e of the irectors e eri erso e ho sh re i the Comp .

V. INDEBTEDNESS

VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

mou t i `

Sl. No.

R. Senguttuvan (Managing Director)

(refer Note 1)

1. ross s r

r s per pro isio s co t i e i ectio 17 1 of the come t ct 1 1

ue of per uisites u er ectio 17 2 of the come t ct 1 1

c ro ts i ieu of s r u er ectio 17 3 of the come t ct 1 1

2. toc ptio

3. e t uit

4. Commissio s of pro t others specif

. thers p e se specif

Cei i s per the Comp ies ct 2013 ` 0 00 000 per um(refer Note 2)

Note 1: ITC Limited (ITC), the Holding Company, has deputed the services of Mr. R. Senguttuvan to the Company without levy of any charge. Accordingly, Mr. Senguttuvan s remuneration for the nancial year ended 31st March, 201 has een orne y ITC.

Note 2: Ceiling as per Part II of Schedule to the Companies Act, 2013 has een disclosed, considering that the Company has not made pro ts during the nancial year ended 31st March, 201 .

3 0

WIMCO LIMITED

mou t i `

Sl. No.

Fee for attending Board and Board Independent Directors’ Meeting Fee

1. Independent Directors

. B er ee 1 20 000 i 10 000 1 30 000

. Ch tter ee 1 20 000 10 000 1 30 000

2,40,000 20,000 2,60,000

2.

C. R. u 40 000 i i 40 000

. utt 0 000 0 000

R. . i hi i i

R. T o i i

1,20,000 Nil Nil 1,20,000

3,80,000

3,80,000

` 0 00 000 per um

(refer Note)

Note: Ceiling as per Part II of Schedule to the Companies Act, 2013 has een disclosed, considering that the Company has not made pro ts during the nancial year ended 31st March, 201 .

mou t i `

Sl. No.

S. K. Sipani

(refer Note 1)

S. Pal

(refer Note 2)

1. ross s r

r s per pro isio s co t i e i ectio 17 1 of the come t ct 1 1 2 2

ue of per uisites u er ectio 17 2 of the come t ct 1 1 101

c ro ts i ieu of s r u er ectio 17 3 of the come t ct 1 1

2. toc ptio

3. e t uit

4. Commissio

s of pro t

others specif

. thers p e se specif

32,17,387

Note 1: ITC Limited (ITC), the Holding Company, has deputed the services of Mr. S. K. Sipani to the Company without levy of any charge. Accordingly, Mr. Sipani’s remuneration for the nancial year ended 31st March, 201 has een orne y ITC.

Note 2: Mr. S. Pal is on deputation from ITC and has een granted Stoc ptions y ITC under its mployee Stoc ption Schemes at mar et price’ [within the meaning of the Securities and change oard of India (Share ased mployee ene ts) Regulations, 2014]. Since such ptions are not tradea le, no per uisite or ene t is immediately conferred upon him y such grant of ptions, and accordingly the said grant has not een considered as remuneration.

o e

eh f of the Bo r

R. Tandon R. Senguttuvan te th 2017 Ch irm i irector

3 1

WIMCO LIMITED

INDEPENDENT AUDITOR’S REPORT

Report on the

e h e u ite the ccomp i ci st teme ts of WIMCO LIMITED the Comp hich comprise the B ce heet s t 31st rch 2017 the t teme t of ro t oss i c u i ther Comprehe si e

come the C sh o t teme t the t teme t of Ch es i uit for the e r the e e summ r of the si i c t ccou ti po icies other e p tor i form tio .

The Comp s Bo r of irectors is respo si e for the m tters st te i ectio 134 of the Comp ies ct 2013 the ct ith respect to the

prep r tio of these ci st teme ts th t i e true f ir ie of the ci positio ci perform ce i c u i other comprehe si e i come c sh o s ch es i e uit of the Comp i ccor ce ith the ccou ti pri cip es e er ccepte i i i c u i the i

ccou ti t r s prescri e u er sectio 133 of the ct.

This respo si i it so i c u es m i te ce of e u te ccou ti recor s i ccor ce ith the pro isio s of the ct for s fe u r i the ssets of the Comp for pre e ti etecti fr u s other irre u rities se ectio pp ic tio of ppropri te ccou ti po icies m i u me ts

estim tes th t re re so e pru e t esi imp eme t tio m i te ce of e u te i ter ci co tro s th t ere oper ti

effecti e for e suri the ccur c comp ete ess of the ccou ti recor s re e t to the prep r tio prese t tio of the ci st teme ts th t i e true f ir ie re free from m teri misst teme t

hether ue to fr u or error.

Auditor’s Responsibility

ur respo si i it is to e press opi io o these ci st teme ts se o our u it.

co ucti our u it e h e t e i to ccou t the pro isio s of the ct the ccou ti u iti st r s m tters hich re re uire to e i c u e i the u it report u er the pro isio s of the ct the Ru es m e thereu er.

e co ucte our u it of the ci st teme ts i ccor ce ith the t r s o u iti speci e u er ectio 143 10 of the ct. Those t r s re uire th t e comp ith ethic re uireme ts p

perform the u it to o t i re so e ssur ce out hether the ci st teme ts re free from m teri misst teme t.

u it i o es performi proce ures to o t i u it e i e ce out the mou ts the isc osures i the ci st teme ts. The proce ures

se ecte epe o the u itor s u me t i c u i the ssessme t of the ris s of m teri misst teme t of the ci st teme ts hether ue to fr u or error. m i those ris ssessme ts the u itor co si ers i ter

ci co tro re e t to the Comp s prep r tio of the ci st teme ts th t i e true f ir ie i or er to esi u it proce ures th t re ppropri te i the circumst ces. u it so i c u es e u ti the ppropri te ess of the ccou ti po icies use the re so e ess of the ccou ti estim tes m e the Comp s irectors s e s e u ti

the o er prese t tio of the ci st teme ts.

e e ie e th t the u it e i e ce o t i e us is suf cie t ppropri te to pro i e sis for our u it opi io o the ci st teme ts.

Opinion

our opi io to the est of our i form tio ccor i to the e p tio s i e to us ci st teme ts i e the i form tio re uire the ct i the m er so re uire i e true f ir ie i co formit ith the ccou ti pri cip es e er ccepte i i of the st te of ff irs of the Comp s t 31st rch 2017 its oss tot

comprehe si e oss its c sh o s the ch es i e uit for the e r e e o th t te.

1. s re uire ectio 143 3 of the ct se o our u it o the co si er tio of the reports of the r ch u itors other u itors o the sep r te ci st teme ts ci i form tio of the r ches

oi t oper tio s referre to i the ther tters p r r ph o e e report to the e te t pp ic e th t

e h e sou ht o t i e the i form tio e p tio s hich to the est of our o e e e ief ere ecess r for the

purposes of our u it. our opi io proper oo s of ccou t s re uire h e ee

ept the Comp so f r s it ppe rs from our e mi tio of those oo s.

c The B ce heet the t teme t of ro t oss i c u i ther Comprehe si e come the C sh o t teme t t teme t of Ch es i uit e t ith this Report re i reeme t ith the re e t oo s of ccou t.

our opi io the fores i ci st teme ts comp ith the i ccou ti t r s prescri e u er sectio 133 of the

ct.e the sis of the ritte represe t tio s recei e from the irectors

s o 31st rch 2017 t e o recor the Bo r of irectors o e of the irectors is is u i e s o 31st rch 2017 from ei ppoi te s irector i terms of ectio 1 4 2 of the ct.

f ith respect to the e u c of the i ter ci co tro s o er ci reporti of the Comp refer to our sep r te Report i e ure . ur report e presses u mo i e opi io o the

e u c oper ti effecti e ess of the Comp s i ter ci co tro s o er ci reporti .

ith respect to the other m tters to e i c u e i the u itor s Report i ccor ce ith Ru e 11 of the Comp ies u it

u itors Ru es 2014 s me e i our opi io to the est of our i form tio ccor i to the e p tio s i e to usi. The Comp oes ot h e pe i iti tio s hich ou

imp ct its ci positio .ii. The Comp i ot h e o term co tr cts i c u i

eri ti e co tr cts for hich there ere m teri foresee e osses.

iii. There ere o mou ts hich ere re uire to e tr sferre to the estor uc tio rotectio u the Comp .

i . The Comp h s pro i e re uisite isc osures i the ci st teme ts s re r s its ho i e i s i peci e B otes s e e i the oti c tio . . 3407 te the th o em er 201 of the i istr of i ce uri the perio from th o em er 201 to 30th ecem er 201 such isc osures re i ccor ce ith the oo s of ccou ts m i t i e the Comp .

2. s re uire the Comp ies u itor s Report r er 201 the r er issue the Ce tr o er me t i terms of ectio 143 11 of

the ct e i e i e ure B st teme t o the m tters speci e i p r r phs 3 4 of the r er.

or Deloitte Haskins & SellsCh rtere ccou t ts

irm s Re istr tio o. 30200Ketan Vora

ce o t rt erte th 2017 em ership o. 1004

ANNEXURE “A” TO THE INDEPENDENT AUDITOR’S REPORT

(Referred to in paragraph 1(f) under ‘Report on Other Legal and Regulatory

Report on the Internal Financial Controls Over Financial Reporting under

Act”)

e h e u ite the i ter ci co tro s o er ci reporti of the Comp s of rch 31 2017 i co u ctio

ith our u it of the ret i s pp ic e ci st teme ts of the Comp for the e r e e o th t te..

The Comp s m eme t is respo si e for est ishi m i t i i i ter ci co tro s se o the i ter co tro o er ci reporti criteri est ishe the Comp co si eri the esse ti compo e ts of i ter co tro st te i the ui ce ote o u it of ter i ci Co tro s er i ci Reporti issue the stitute of Ch rtere ccou t ts of i . These respo si i ities i c u e the esi imp eme t tio

m i te ce of e u te i ter ci co tro s th t ere oper ti

effecti e for e suri the or er ef cie t co uct of its usi ess i c u i here ce to respecti e comp s po icies the s fe u r i of its ssets the pre e tio etectio of fr u s errors the ccur c

comp ete ess of the ccou ti recor s the time prep r tio of re i e ci i form tio s re uire u er the Comp ies ct 2013.

Auditor’s Responsibility

ur respo si i it is to e press opi io o the Comp s i ter ci co tro s o er ci reporti se o our u it. e co ucte our u it i ccor ce ith the ui ce ote o u it of ter i ci Co tro s

er i ci Reporti the ui ce ote issue the stitute of Ch rtere ccou t ts of i the t r s o u iti prescri e u er ectio 143 10 of the Comp ies ct 2013 to the e te t pp ic e to

u it of i ter ci co tro s. Those t r s the ui ce ote re uire th t e comp ith ethic re uireme ts p perform the u it to o t i re so e ssur ce out hether e u te i ter ci

co tro s o er ci reporti s est ishe m i t i e if such co tro s oper te effecti e i m teri respects.

ur u it i o es performi proce ures to o t i u it e i e ce out

3 2

WIMCO LIMITED

the e u c of the i ter ci co tro s s stem o er ci reporti their oper ti effecti e ess. ur u it of i ter ci co tro s o er ci reporti i c u e o t i i u erst i of i ter ci

co tro s o er ci reporti ssessi the ris th t m teri e ess e ists testi e u ti the esi oper ti effecti e ess of i ter co tro se o the ssesse ris . The proce ures se ecte epe o the u itor s u eme t i c u i the ssessme t of the ris s of m teri misst teme t of the ci st teme ts hether ue to fr u or error.

e e ie e th t the u it e i e ce e h e o t i e is suf cie t ppropri te to pro i e sis for our u it opi io o the Comp s i ter

ci co tro s s stem o er ci reporti .

Meaning of Internal Financial Controls Over Financial Reporting

comp s i ter ci co tro o er ci reporti is process esi e to pro i e re so e ssur ce re r i the re i i it of ci

reporti the prep r tio of ci st teme ts for e ter purposes i ccor ce ith e er ccepte ccou ti pri cip es. comp s i ter ci co tro o er ci reporti i c u es those po icies proce ures th t 1 pert i to the m i te ce of recor s th t i re so e

et i ccur te f ir re ect the tr s ctio s ispositio s of the ssets of the comp 2 pro i e re so e ssur ce th t tr s ctio s re recor e s ecess r to permit prep r tio of ci st teme ts i ccor ce ith e er ccepte ccou ti pri cip es th t receipts

e pe itures of the comp re ei m e o i ccor ce ith uthoris tio s of m eme t irectors of the comp 3 pro i e

re so e ssur ce re r i pre e tio or time etectio of u uthorise c uisitio use or ispositio of the comp s ssets th t cou h e

m teri effect o the ci st teme ts.

Inher

Bec use of the i here t imit tio s of i ter ci co tro s o er ci reporti i c u i the possi i it of co usio or improper m eme t o erri e of co tro s m teri misst teme ts ue to error or fr u m occur

ot e etecte . so pro ectio s of e u tio of the i ter ci co tro s o er ci reporti to future perio s re su ect to the ris th t the i ter ci co tro o er ci reporti m ecome i e u te

ec use of ch es i co itio s or th t the e ree of comp i ce ith the po icies or proce ures m eterior te.

Opinion

our opi io to the est of our i form tio ccor i to the e p tio s i e to us the Comp h s i m teri respects e u te i ter

ci co tro s s stem o er ci reporti such i ter ci co tro s o er ci reporti ere oper ti effecti e s t rch 31 2017 se o the i ter co tro o er ci reporti criteri est ishe

the respecti e Comp co si eri the esse ti compo e ts of i ter co tro st te i the ui ce ote o u it of ter i ci Co tro s er i ci Reporti issue the stitute of Ch rtere ccou t ts of i .

or Deloitte Haskins & SellsCh rtere ccou t ts

irm s Re istr tio o. 30200

Ketan Vora

ce o t rt er

te th 2017 em ership o. 1004

ANNEXURE B TO THE INDEPENDENT AUDITOR’S REPORT

(Referred to in paragraph 2 under ‘Report on Other Legal and Regulatory

i The Comp h s m i t i e proper recor s sho i fu p rticu rs i c u i u tit ti e et i s situ tio of e ssets.

The e ssets ere ph sic eri e uri the e r the eme t i ccor ce ith re u r pro r mme of eri c tio

hich i our opi io pro i es for ph sic eri c tio of the e ssets t re so e i ter s. ccor i to the i form tio

e p tio i e to us o m teri iscrep cies ere otice o such eri c tio .

c ccor i to the i form tio e p tio s i e to us the recor s e mi e se o the e mi tio of the re istere s e ee pro i e to us e report th t the tit e ee s comprisi the immo e properties of hich re freeho re he i the

me of the Comp s t the ce sheet te.

ii s e p i e to us the i e tories ere ph sic eri e uri the e r the eme t t re so e i ter s o m teri

iscrep cies ere otice uri ph sic eri c tio .

iii The Comp h s ot r te o s secure or u secure to comp ies rms imite i i it p rt ership or other p rties co ere i the re ister m i t i e u er sectio 1 of the Comp ies ct 2013.

i The Comp h s ot r te o s m e i estme ts or pro i e u r tees he ce reporti u er c use i of the C R 201 is ot pp ic e to the Comp .

ccor i to the i form tio e p tio s i e to us the Comp h s ot ccepte eposit uri the e r. There re o u c ime eposits outst i t time uri the e r.

i The m i te ce of cost recor s h s ot ee speci e the Ce tr o er me t u er sectio 14 1 of the Comp ies ct 2013.

ii ccor i to the i form tio e p tio s i e to us i respect of st tutor ues

The Comp h s ee re u r i epositi u ispute st tutor ues i c u i ro i e t u mp o ees t te sur ce come

t es T er ice T Customs ut cise ut ue e T Cess other m teri st tutor ues pp ic e to it to the ppropri te uthorities.

There ere o u ispute mou ts p e i respect of ro i e t u mp o ees t te sur ce come t es T er ice T

Customs ut cise ut ue e T Cess other m teri st tutor ues i rre rs s t rch 31 2017 for perio of more th si mo ths from the te the ec me p e.

iii our opi io ccor i to the i form tio e p tio s i e to us the Comp h s ot t e o s or orro i s to

ci i stitutio s s o er me t ues to e e ture ho ers. e ce reporti u er c use iii of C R 201 is ot pp ic e to the Comp .

i The Comp h s ot r ise mo e s of i iti pu ic offer or further pu ic offer i c u i e t i strume ts or term o s he ce reporti u er c use i of the C R 201 is ot pp ic e to the Comp .

To the est of our o e e ccor i to the i form tio e p tio s i e to us o fr u the Comp o fr u o the Comp its of cers or emp o ees h s ee otice or reporte uri the e r.

i our opi io ccor i to the i form tio e p tio s i e to us the Comp h s ot p i pro i e m eri

remu er tio he ce reporti u er c use i of C R 201 is ot pp ic e to the Comp .

ii The Comp is ot i hi Comp he ce reporti u er c use ii of the C R 201 r er is ot pp ic e.

iii our opi io ccor i to the i form tio e p tio s i e to us the Comp is i comp i ce ith ectio 1 177

of the Comp ies ct 2013 here pp ic e for tr s ctio s ith the re te p rties the et i s of re te p rt tr s ctio s

h e ee isc ose i the ci st teme ts etc. s re uire the pp ic e ccou ti st r s.

i uri the e r the Comp h s ot m e prefere ti otme t or pri te p ceme t of sh res or fu or p rt co erti e e e tures

he ce reporti u er c use i of C R 201 is ot pp ic e to the Comp .

our opi io ccor i to the i form tio e p tio s i e to us uri the e r the Comp h s ot e tere i to o c sh tr s ctio s ith its irectors or perso s co ecte ith him

he ce pro isio s of sectio 1 2 of the Comp ies ct 2013 re ot pp ic e.

i The Comp is ot re uire to e re istere u er sectio 4 of the Reser e B of i ct 1 34.

or Deloitte Haskins & Sells

Ch rtere ccou t ts

irm s Re istr tio o. 30200

Ketan Vora

ce o t rt er

te th 2017 em ership o. 1004

3 3

WIMCO LIMITED

BALANCE SHEET AS AT 31ST MARCH, 2017 As at s t s t Note 31st March, 31st rch 1st pri 2017 201 201 (` in Lakhs) ` in Lakhs ` in LakhsASSETS

ropert t uipme t 1 71.98 .1 7 . 1 t i e ssets 1B 0.03 0.03 0.03 c eferre T ssets et 2 – ther o curre t ssets 3 37.93 37. 1 37.11Current assets e tories 4 374.26 207.02 27 .1 i ci ssets i Tr e recei es 215.51 2 .7 1 2.0 ii C sh c sh e ui e ts 25.54 .7 . 7 iii thers 7 0.10 34 . 4 0.10 27 .1 c ther curre t ssets 3 275.55 1 . 1 122. Total Assets 1,000.80 2 . 0 7 2. 0

EQUITY AND LIABILITIES Equity uit h re c pit 1,884.60 1 4. 0 1 4. 0 ther uit (1,643.48) 241.12 1 7.14 227.4 1 3 .4 24 .14 Liabilities

ro isio s 14.72 11.3 .17 Current liabilities i ci i i ities i Tr e p es 571.08 42 . 1 411. 0 ii ther ci i i ities 10 17.27 588.35 2 . 0 4 .41 13.1 424.7 ther curre t i i ities 11 154.02 127. 0 111.7 c ro isio s 2.59 3.7 2.0

Total Equity and Liabilities 1,000.80 2 . 0 7 2. 0

The ccomp i otes 1 to 24 re i te r p rt of the i ci t teme ts.

terms of our report tt che

For Deloitte Haskins & Sells

Ch rtere ccou t ts or o eh f of the Bo r

KETAN VORA RAJIV TANDON R SENGUTTUVAN

rt er Chairman Managing Director

S K SIPANI SAURABH PAL

Company Secretary Chief inancial f cer

ce o t

te th 2017

3 4

WIMCO LIMITED

STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED 31ST MARCH, 2017

For the year ended or the e r e e ote March 31, 2017 rch 31 201 (` in Lakhs) ` i hs

Re e ue rom per tio s 12 1,615.40 1 4 .2

ther come 13 1.85 10.37

III 1,617.25 1 4 . 2

IV EXPENSES

Cost of m teri s co sume 1,025.09 7 2.40

Ch es i i e tories of ishe oo s toc i Tr e or i pro ress (73.80) 13 .1

cise ut o s e of oo s 144.47 103.74

mp o ee e e ts e pe se 14 262.06 23 .27

i ce costs 1 1.00 2.27

epreci tio morti tio e pe se 1 7.09 . 4

ther e pe ses 1 258.09 2 1.14

Total expenses (IV) 1,624.00 1 30.

(6.75) 3 .33

I T e pe se –

II (6.75) 3 .33

III

i Items th t i ot e rec ssi e to pro t or oss

Reme sureme ts of e e e e t p s 14 (2.22) . 3

ii I come t re ti to items th t i ot e rec ssi e to pro t or oss –

IX (2.22) . 3

X (8.97) 41.1

XI r i s per e uit sh re B sic i ute i ` 17 (0.00) 0.02

ce ue i ` 1.00 1.00


I terms of our report tt che







ce o t te th 2017

3

WIMCO LIMITED

CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH, 2017

For the year ended or the e r e e March 31, 2017 rch 31 201 (` in Lakhs) ` i hs

oss ro t efore T (6.75) 3 .33

Adjustments for:

epreci tio mortis tio pe se 7.09 . 4

I terest e pe iture 1.00 2.27

Reme sureme t of e e Be e t s (2.22) . 3

Operating loss before working capital changes (0.88) 31.

Adjustments for:

Tr e recei es 71.25 4.

ther i ci o i ci ssets (108.76) 44.

I e tories (167.24) 71.13

h re B se me ts 22.63 20.4

Tr e es ther i ci i i ities ro isio s 160.65 4.27

(22.35) 2 .41

I come t p i et of refu s –

(22.35) 2 .41

urch se of ropert t uipme t (9.89) 0. 1

(9.89) 0. 1

I terest p i (1.00) 2.27

(1.00) 2.27

D. Net increase / (decrease) in cash and cash equivalents (A+B+C) (33.24) 2 .1

E. Reconciliation

Cash and cash equivalents at the beginning of the year 58.78 . 7

Cash and cash equivalents at the end of the year 25.54 .7

(33.24) 2 .1

C sh o h 0.46 0.03

B ces ith s 25.08 .7

25.54 .7

The ccomp i otes 1 to 24 re i te r p rt of the i ci t teme ts








ce o t

te th 2017

3

WIMCO LIMITED

STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31ST MARCH, 2017

A. Equity Share Capital (` in Lakhs)

Balance at 1st April, 2015 1,884.60

Issue of e uit sh res

Balance at 31st March, 2016 1,884.60

Issue of e uit sh res

Balance at 31st March, 2017 1,884.60

B. Other Equity (` in Lakhs)

Reserves and Surplus

Totalu si Reser e

C pit Co tri utio for

h re B se me ts

Ret i e r i s

Balance as at 1st April, 2015ro t for the e rther Comprehe si e I come et of t

14. 3 1 1.3 3 .33

. 3

1 3 .4 3 .33

. 3

Tot Comprehe si e I come 41.1 41.1

Reco itio of sh re se p me t 20.4 20.4

Balance as at 31st March, 2016 14. 3 20.4 1 2. 1 7.14

ro t for the e r (6.75) (6.75)

ther Comprehe si e I come et of T 2.22 2.22

. 7 . 7

Reco itio of sh re se p me t 22. 3 22. 3

Balance as at 31st March, 2017 14.93 43.11 (1,701.52) (1,643.48) Represe ts receipt of su si from o er me t









ce o t

te th 2017

3 7

WIMCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

` i hs

rticu rs

ross B oc epreci tio mortis tio et Boo ue

s t 1st pri

201

itio s

s t 31st

rch201

itio s

As at 31st

March,2017

Upto1st pri

201

or the e r

Upto 31st

rch201

or the e r

Upto 31st

March,2017

As at 31st

March,2017

s t 31st

rch 201

s t1st pri

201

reeho Bui i s t uipme t Computers f ce uipme t ur iture i tures ehic es

47. 2 3.74 .1 7. 2.17 3.1 4. 1

0.1 0.32

47. 2 3.74 .1 .0 2.4 3.1 4. 1

.70

0.1

47.92 3.74 6.19

17.78 2.49 3.38 4.51

0.71 0. 3.2 0. 0. 4 0. 3

0.71 0. 3.2 0. 0. 4 0. 3

0.70 0. 3. 0. 0 0. 0. 3

– 1.41 1.12 6.80 1.15 1.89 1.66

47.92 2.33 5.07

10.98 1.34 1.49 2.85

47. 2 3.03 . 3 4. 3 1. 4 2.2 3.

47. 2 3.74 .1 7. 2.17 3.1 4. 1

Total 75.61 0.51 76.12 9.89 86.01 – 6.94 6.94 7.09 14.03 71.98 69.19 75.61

1B. Intangible Assets

Computer oft re 0.03 0.03 0.03 – 0.03 0.03 0.03

Total 0.03 – 0.03 – 0.03 – – – – – 0.03 0.03 0.03

Grand Total 75.64 0.51 76.15 9.89 86.04 – 6.94 6.94 7.09 14.03 72.01 69.22 75.64

As at s t s t 31st March, 2017 31st rch 201 1st pri 201 ` in Lakhs ` i hs ` i hs

Curre t o Curre t Curre t o Curre t3. Other Assets

ces other th c pit ces

i ce T et of pro isio s – 37.93 37. 1 37.11

ii ther ces i c u i ces ith st tutor uthorities prep i e pe ses supp iers emp o ees etc.

ecure – – U secure 275.55 – 1 . 1 122.

TOTAL 275.55 37.93 1 . 1 37. 1 122. 37.11

As at s t s t 31st March, 2017 31st rch 201 1st pri 201 ` in Lakhs) ` i hs ` i hs2. Deferred tax Assets (Net)

eferre t i i ities iffere ce et ee oo ce t ce of ropert t uipme t 0.20 0. 1 1.2

u Tot 0.20 0. 1 1.2

Deferred tax assets U sor e epreci tio c rrie for r 55.27 4. 4.02 is o ces u er ectio 40 i 43B of the I come T ct 1 1 6.81 .14 4.02 ro isio for ou tfu e ts ces – 20.20 Brou ht for r usi ess osses 139.28 13 . 131.7

201.36 1 .02 210.03

Total –

eferre t sset h s ee reco i e o to the e te t of the eferre t i i ities s this mou t is co si ere to e re so cert i of re i tio .

The Comp h s t osses of ` 421.24 hs 201 ` 417.3 hs 201 ` 403.34 hs for hich o eferre t ssets h e ee reco ise . These osses i e pire et ee ci e r 201 1 to 2024 2 .

As at s t s t 31st March, 2017 31st rch 201 1st pri 201 ` in Lakhs) ` i hs ` i hs4. Inventories t o er of cost et re is e ue R m teri s i c u i p c i m teri s 250.23 1 .7 .73 or i pro ress 124.03 0.23 1 4. 2 i ishe oo s m uf cture 23. 0

TOTAL 374.26 207.02 27 .1

The cost of i e tories reco ise s e pe se i c u es ` i uri 201 201 ` . 1 hs i respect of rite o s of i e tor to et re is e ue.

3

WIMCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS (Contd.)

s at s t s t 31st March, 2017 31st rch 201 1st pri 201 ` in Lakhs) ` i hs ` i hs5. Trade Receivables (Current) ecure co si ere oo – U secure co si ere oo 215.51 2 .7 1 2.0 ou tfu – 4.3 ess pecte cre it oss o ce – 4.3

TOTAL 215.51 2 .7 1 2.0

ee ote 1 for ues from Re te rties 6. Cash and cash equivalents B ces ith B s C sh Cre it ccou ts 25.08 .7 . 1 C sh o h 0.46 0.03 0.3

TOTAL 25.54 .7 . 7 ecure h pothec tio of stoc i tr e prese t future of the Comp i c u i r m teri s ishe oo s stoc i process prese t future oo e ts outst i recei es.

As at s t s t 31st March, 2017 31st rch 201 1st pri 201 ` in Lakhs) ` i hs ` i hs

Curre t o Curre t Curre t o Curre t7. Other Financial assets

Deposits – – 0.10 0.10

TOTAL – – 0.10 0.10

As at As at s t s t s t s t 31st March, 31st March, 31st rch 31st rch 31st rch 31st rch 2017 2017 201 201 201 201 (No. of Shares) (` in Lakhs) o. of h res ` i hs o. of h res ` i hs

8. Share capital Authorised

3 00 00 000 201 3 00 00 000 uit sh res of 350,000,000.00 3500.00 3 0 000 000.00 3 00.00 3 0 000 000.00 3 00.00 ` 1 201 ` 1 e ch see ote D e o

1 13 00 000 201 1 13 00 000 Re eem e prefere ce 11,300,000.00 11300.00 11 300 000.00 11300.00 11 300 000.00 11300.00 sh res of ` 100 e ch

Total 361,300,000.00 14800.00 3 1 300 000.00 14 00.00 3 1 300 000.00 14 00.00

Issued, Subscribed & Paid up 1 4 0 000 201 1 4 0 000 uit sh res of ` 1 201 ` 1 e ch see ote D e o 188,460,000 1884.60 1 4 0 000 1 4. 0 1 4 0 000 1 4. 0

As at beginning of the year 188,460,000 1,885 1 4 0 000 1 4. 0 1 4 0 000 1 4. 0 Issue of h res – – s t e of the e r 188,460,000 1,885 1 4 0 000 1 4. 0 1 4 0 000 1 4. 0

As at As at s t s t s t s t 31st March, 31st March, 31st rch 31st rch 31st rch 31st rch 2017 2017 201 201 201 201 (No. of Shares) % o. of h res o. of h res Equity Shares

1 0 1 1 3 201 1 0 1 1 3 uit sh res of ` 1 e ch fu p i up re he ITC imite o i Comp 185,081,193 98.21 1 0 1 1 3 .21 1 0 1 1 3 .21

uit h res ITC imite o i Comp 185,081,193 98.21 1 0 1 1 3 .21 1 0 1 1 3 .21

D) Rights, preferences and restrictions attached to the Shares

The r i r h res of the Comp h i p r ue of ` 1 per sh re r p ri p ssu i respects i c u i e tit eme t to i i e . Rep me t of

c pit i the e e t of i i up of the Comp i i ter i e su ect to the pro isio s of the rtic es of ssoci tio of the Comp s m

e etermi e the Comp i e er eeti prior to such i i up.

3

WIMCO LIMITED


s t s t 31st March, 2017 31st rch 201 1st pri 201 ` in Lakhs) ` i hs ` i hs10. Other Financial liabilities Current mp o ee Be e ts e 15.36 1 .33 10. e to the o i Comp see ote 1 for ues to re te p rties 1.91 11.47 2. 4

Other Financial liabilities 17.27 2 . 0 13.1

11. Other Liabilities

Current

t tutor i i ities 6.69 4. 1 .

ces recei e from customers 147.33 122. .07

TOTAL OTHER LIABILITIES 154.02 127. 0 111.7

As at s t s t 31st March, 2017 31st rch 201 1st pri 201 ` in Lakhs ` i hs ` i hs

Curre t o Curre t Curre t o Curre t9. Provisions

ro isio for emp o ee e e ts

Retireme t e e ts 2.59 14.72 3.7 11.3 2.0 .17

TOTAL 2.59 14.72 3.7 11.3 2.0 .17

For the year ended or the e r e e 31st March, 2017 31st rch 201 ` in Lakhs) ` i hs

12.

e of ro ucts 1,597.50 1 4 .21

e of er ices 16.21 1 .27

duty of ` 144.47 lakhs for the year ended 31st March, 2017;

for the year ended 31st March, 2016 ` 103.74 lakhs) 1,613.71 1 4 4.4

ther per ti Re e ues cr p es 1.69 0.77

TOTAL 1,615.40 1 4 .2

13.

ther o oper ti i come 1.19 .3

et orei ch e i s oss 0.66 1.01

TOTAL 1.85 10.37

ries es 203.83 1 .00

Co tri utio to ro i e t other fu s 16.08 10.7

h re se p me t 22.63 20.4

t ff e f re e pe ses 19.52 20.03

TOTAL 262.06 23 .27

15. Finance costs

I terest e pe se for ci i i ities ot c ssi e s T 1.00 2.27

TOTAL 1.00 2.27

As at

3 0

WIMCO LIMITED


For the year ended or the e r e e 31st March, 2017 31st rch 201 ` in Lakhs) ` i hs

16. Others Expenses

Co sumptio of stores sp re p rts 1.68 3.23

u Co tr cti pe ses 79.01 2.44

o er fue 18.44 33. 4

Rep irs i te ce

Bui i s 2.07 1.

chi er 0.37 0.

thers 2.65 4.2

R tes t es 3.00 3.70

I sur ce 1.87 0.11

i te ce up eep 14.25 13. 7

Tr e i co e ce 62.91 4.23

ri ti st tio er 6.55 7.13

rei ht for r i 14.32 11.3

ertisi s es promotio ch r es 4.85 3.

B ch r es 0.51 0.37

I form tio tech o o ser ices 1.93 10. 1

Tr i i e e opme t – 0.43

rofessio fees 11.04 14. 4

ost e te epho e ch r es 6.80 . 7

Directors sitti fees 3.80 3. 0

isce eous e pe ses 22.04 12.

TOTAL 258.09 2 1.14

1 u itors remu er tio e pe ses

u it fees 1.73 1.44

T u it fees 1.15 1.1

17. Earnings per share

ro t oss fter t ttri ut e to e uit sh reho ers (6.75) 3 .33

ei hte er e um er of uit h res B 188,460,000 1 4 0 000

r i s per sh re B sic Di ute i ` B (0.00) 0.02

omi ue of e uit sh re i ` 1.00 1.00

The comp s oper tio s comprise of o o e se me t i.e. ric tio ssem of chi es is co siste t ith the i ter reporti pro i e to the

ecuti e Committee hich is the Chief per ti Decisio er. e ce sep r te se me t i form tio is ot re uire to e i e s per the re uireme ts

of I i ccou ti t r 10 .

2017 201 201 ` in Lakhs) ` i hs ` i hs

ithi I i 1519.03 12 3. 3

utsi e I i 94.68 1 0.

Total 1613.71 14 4.4

ithi I i 109.94 107.03 112.7

utsi e I i –

Total 109.94 107.03 112.7

T The Comp is ot re i t o re e ues from tr s ctio s ith si e e ter customer oes ot recei e 10 or more of its re e ues from

tr s ctio s ith si e e ter customer.

3 1

WIMCO LIMITED


19. Related Party Disclosures

1. PARTIES EXERCISING CONTROL OVER THE COMPANYi

ITC imite 2. RELATED PARTIES WITH WHOM THE COMPANY HAD TRANSACTIONS

ITC imite ur ep t. imite

ii

R. T o o ecuti e Director

R. . i hi o ecuti e Director

D. Dutt o ecuti e Director

C.R. Du o ecuti e Director

. B er ee I epe e t Director

. Ch tter ee I epe e t Director

R. e uttu i Director

. . ip i Comp ecret r

. Chief i ci f cer

o remu er tio is p i the Comp to the i Director Comp ecret r i ccor ce ith the terms of their ppoi tme t.

or the purpose of c pit m eme t c pit i c u es issue e uit sh re c pit other e uit reser es ttri ut e to the e uit sh reho ers of the comp . The prim r o ecti e of the comp s c pit m eme t str te is to pro i e e u te c pit for sust i i oper tio cti ities meeti its ro th p s m imi i sh reho er ue. The Comp fu s its oper tio s throu h ef cie t or i c pit m eme t i ter ccru s

c pit co tri utio from ho i comp s he sou ht .

o ch es ere m e i the o ecti es processes for c pit m eme t uri the e rs e e 31st rch 2017 31st rch 201

2.

rticu rs ote As at 31st March, 2017 s t 31st rch 201 s t 1st pri 201

Carrying Value

Fair Value C rr i ue

ir ue C rr i ue

ir ue

A. Financial assets

i C sh C sh ui e ts 25.54 25.54 .7 .7 . 7 . 7

ii Tr e Recei es 215.51 215.51 2 .7 2 .7 1 2.0 1 2.0

iii ther i ci ssets 7 – – 0.10 0.10 0.10 0.10

241.05 241.05 34 . 4 34 . 4 27 .1 27 .1

B. Financial liabilities

iii Tr e es 571.08 571.08 42 . 1 42 . 1 411. 0 411. 0

i ther ci i i ities 10 17.27 17.27 2 . 0 2 . 0 13.1 13.1

588.35 588.35 4 .41 4 .41 424.7 424.7

The Comp s e posure to ci ris s such s forei curre c ris i ui it ris cre it ris is imite . The Comp h s esi e its Ris eme t stem i i e ith the ture sc e of its oper tio s to ress ris s i tri sic to oper tio s ci s comp i ces risi out of the o er str te

of the Comp .

a) Foreign currency risk

The Comp u ert es tr s ctio s e omi te i forei curre c hich resu ts i e ch e r te uctu tio s. uch e ch e r te ris prim ri rises from tr s ctio s m e i forei e ch e rei st teme t ris s risi from reco ise ssets i i ities. uch tr s ctio s re prim ri

3. DISCLOSURE OF TRANSACTIONS BETWEEN THE COMPANY AND RELATED PARTIES AND THE STATUS OF OUTSTANDING BALANCES AS AT 31.03.2017` i hs

RELATED PARTY TRANSACTIONS SUMMARY Personnel TotalSNPL

2017 2016 2015 2017 2016 2015 2017 2016 2015 2017 2016 2015

1. e of oo s er ices2. urch se of oo s er ices3. pe ses Reim urse4. pe ses Reco ere

. C pit Co tri utio for h re B se me ts

. Remu er tio of e eme t erso e o Deput tio reim urse hort Term Be e tsther o term e e tsther Remu er tio

Total

7. Director s itti ees. utst i recei es. utst i p es

2.89 1.08 0.50

173.14 22.63

27.25

27.25

2.77 1.91

3.

. 4 1 2.71 20.4

20. 4

20.64

11.47

33.4

2. 4

–

24.7

–

24.7

– – – – –

– – –

3.80 – –

3. 0

2.89 1.08 0.50

173.14 22.63

27.25

27.25

3.80 2.77 1.91

2 .71

. 4 1 2.71 20.4

20. 4

20.64

3. 0 24.7 11.47

33.4 2. 4

ost emp o me t e e ts re ctu ri etermi e o o er sis he ce ot sep r te pro i e . urther for sh re se p me ts Refer ote 14

3 2

WIMCO LIMITED


u ert e i U Do r. Co si eri the i si i c t ue forei curre c ris s is ssesse to e imm teri . s the tr s ctio s u ert e the comp re i sm er e omi tio s t i for r co er for e ch tr s ctio is ot eco omic fe si e.

s there re o r e e posures se siti it sis h s ot ee pro i e .

b) Liquidity risk

The Comp m es its i ui it ris e suri th t it i s h e suf cie t i ui it to meet its i i ities he ue. The comp m i t i s e u te committe cre it i es ith the s.

The t e e o pro i es et i s re r i the rem i i co tr ctu m turities of si i c t ci i i ities t the reporti te.

Particulars

As at 31st March, 2017

Carrying valueLess than 3 More than 3 More than 6

1 year

More than 1 year upto 3

years

Beyond 3 years

Total

Trade PayablesOther Financial Liabilities

571.0817.27

474.6717.27

43.73–

52.68–

––

––

571.0817.27

588.35 491.94 43.73 52.68 – – 588.35

rticu rs

s t 31st rch 201

Co tr ctu C sh o s

C rr i ueess th 3 mo ths

ore th 3 mo ths upto

mo ths

ore th mo ths upto

1 e r

ore th 1 e r upto 3

e rsBe o 3 e rs Tot

Tr e esther i ci i i ities

42 . 12 . 0

317. 32 . 0

72. 3 .02 42 . 12 . 0

4 .41 347.43 72. 3 .02 4 .41

rticu rs

s t 1st pri 201

Co tr ctu C sh o s

C rr i ueess th 3 mo ths

ore th 3 mo ths upto

mo ths

ore th mo ths upto

1 e r

ore th 1 e r upto 3

e rsBe o 3 e rs Tot

Tr e esther i ci i i ities

411. 013.1

307.1013.1

7 .41 2 .0 411. 013.1

424.7 320.2 7 .41 2 .0 424.7

The t e h s ee r up se o u iscou te c sh o s of ci i i ities se o the e r iest te o hich the Comp c e re uire to p .

c) Credit risk

Cre it ris is the ris th t cou terp rt i ot meet its o i tio s.

Tr e recei es re i iti reco i e t f ir ue p us irect ttri ut e tr s ctio costs. The et c rr i ue of tr e recei es is ot si i c t iffere t from their c rr i ues ue to the short term ur tio of tr e recei es.

e er terms of tr e re 7 to 0 ce ce 10 to 2 is p i customers post i st tio of m chi e. here er re uire cre it terms for customers re etermi e se o i i i u usi esses i ccor ce ith the terms of the tr e m r et sce rio e er eco omic sce rio i ustr pr ctice hich c e for speci c cre it re uireme t. Co ce tr tio s of cre it ris ith respect to tr e recei es re imite to perio e s es i st post te che ues. Cre it imits e te e to tr e recei es re mo itore the ecuti e Committee protecti e ctio i iti te to oi ef u t.

ur historic e perie ce of co ecti recei es supporte the e e of ef u t is th t cre it ris is o so tr e recei es re co si ere to e si e c ss of ci ssets.

Customer ces hich re o er ue for more th 1 0 s re e u te for pro isio co si ere for imp irme t o i i i u sis. The Comp h s use pr ctic e pe ie t i computi o ce for ou tfu recei es se o the ei of the customer s ces speci c cre it circumst ces Comp s historic recei e e perie ce for r oo i i form tio . rite offs re m e ith the ppro of the Bo r of Directors.

ir ue hier rch

The f ir ue of tr e recei es p es other ci i i ities is co si ere to e e u to the c rr i mou ts of these items ue to their short term ture.

i icro m e ium sc e usi ess e tities

There re o icro m e ium terprises to hom the Comp o es ues hich re outst i for more th 4 s uri the e r s

t rch 31 2017 rch 31 201 . This i form tio s re uire to e isc ose u er the icro m e ium terprise De e opme t ct 200

h s ee etermi e to the e te t such p rties h e ee i e ti e o the sis of i form tio i e ith the Comp .

ii The e i i e emp o ee s of the Comp i c u i emp o ee s epute from ITC imite the o i Comp ITC h e ee r te stoc optio s

ITC u er the ITC mp o ee toc ptio chemes ITC . These optio s est o er perio of three e rs from the te of r t re e ercis e

ithi perio of e e rs from the te of esti . ch optio e tit es the ho er thereof to pp for e otte te r i r h res of ITC of ` 1.00

e ch upo p me t of e ercise price.

These optio s h e ee r te t m r et price ithi the me i of the ecurities ch e Bo r of I i h re B se mp o ee Be e ts

Re u tio s 2014. The f ir ue of the optio s r te is etermi e ITC usi the B c cho es ptio rici o e for the ptio ees co ere

u er the ITC s ho e.

The Comp h s reco i e the cost of optio s r te s st te o e s e uit sett e sh re se p me t scheme i ccor ce ith I 102

h re B se me t the Comp s sh re of the cost of f ir ue of such optio s h s ee ccou te for se o the ice o ch r e ITC.

ccor i mou t of ` 22. 3 hs 201 ` 20.4 hs Refer ote 14 hich represe ts the o ch r e from ITC h s ee reco i e s emp o ee

e e ts e pe se h s ee co si ere s c pit co tri utio et of reim urseme ts if .

3 3

WIMCO LIMITED


The summ r of mo eme t of such optio s r te ITC st tus of the outst i optio s is s u er

ParticularsAs at 31st March, 2017 s t 31st rch 201

No. of Options o. of ptio s

utst i t the e i i of the e r 7,864 114

Corpor te ctio Bo us Issue ITC 3,932

r te uri the e r@ 4,950 2 7 0

ess pse uri the e r –

ess o eme t ue to tr sfer of emp o ees ithi roup –

ess ercise uri the e r –

utst i t the e of the e r 16,746 7 4

ptio s e ercis e t the e of the e r 7,258 2 4 0

ote The ei hte er e e ercise price of the optio s r te to ptio ees u er the ITC is compute ITC s ho e.

@I c u es 247 201 i optio s r te to the Chief i ci f cer of the Comp

iii Cost of i e tor reco i e s e pe se uri the e r mou t to ` 1007.4 hs 201 ` . 4 hs .

i peci e B otes B he tr s cte the Comp uri the perio 0 11 201 to 30 12 201 is s fo o s

Particulars SBNs Total

C osi c sh i h s o 0 .11.201 3 000 2 40

ermitte Receipts 172 172

ermitte me ts 1 0 0 1 0 0

mou t Deposite i B s t . 24.11.201 3 000 3 000

C osi c sh i h s o 30.12.201 1 1 4 1 1 4

De e Be e t s o Term Compe s te se ces s per ctu ri u tio s s o rch 31 2017 reco i e i the ci st teme ts i respect of mp o ee Be e t chemes

I respect of r tuit the Comp m es co tri utio s to e e e e t scheme for u if i emp o ees i roup cum ife ssur ce c sh ccumu tio po ic offere IC. The i i ities risi i the e e e e t scheme re etermi e i ccor ce ith the ice of i epe e t professio

u i e ctu ries usi the pro ecte u it cre it metho . itio fu i re uireme ts re se o ctu ri me sureme t.

The emp o ees of the Comp re so e tit e to compe s te e e for hich the Comp recor s the i i it se o ctu ri u tio compute u er pro ecte u it cre it metho . These e e ts re u fu e .

The e e e e t p s e pose the Comp to ctu ri e cit risi out of i estme t ris i terest r te ris s r cost i tio ris . These p s re ot e pose to u usu e tit speci c or scheme speci c ris s ut there re e er ris s. The cheme s ccou ti i i ities re c cu te usi iscou t r te set ith refere ce to the o er me t securit ie s. ecre se i ie s i i cre se the fu i i ities e i to ccou ti e cit i the fu s.

o e er this m e p rti offset i cre se i c pit ue of the cheme ssets th t h e simi r ch r cteristics. I cre se i s r ue to erse i tio r pressures mi ht e to hi her i i ities. To m e the ris r tuit scheme h s ee fu e po ic offere ife I sur ce Corpor tio of I i .

e u erst m th t ICs o er portfo io of ssets is e i ersi e s such the o term retur o the po ic is e pecte to e hi her th the r te of retur o Ce tr o er me t Bo s

` i hs

For the year ended 31st March, 2017

or the e r e e 31st rch 201

Gratuity Leave r tuit e e c shme t

I

1 Curre t er ice Cost 3.27 1.96 2. 2.0

2 st er ice Cost – –

3 et I terest Cost (1.71) 1.02 1.1 0. 2

4 T 1.56 2.98 1.47 2.

Retur o p ssets e c u i mou ts i c u e i et i terest cost (1.42) – 0.04

ffect of ch es i emo r phic ssumptio s – –

7 ffect of ch es i ci ssumptio s 2.77 0.52

Ch es i sset cei i e c u i i terest i come – –

ffect of e perie ce ustme ts 1.21 1.70 2.21 . 3

10 2.56 2.22 2.2 . 3

11 4.12 5.19 0.7 . 0

3 4

WIMCO LIMITED


II Net Asset/(Liability) recognised in Balance Sheet For the year ended 31st March, 2017


or the e r e e 1st pri 201


r tuit e e c shme t

1 rese t ue of De e Be e t i tio 60.57 17.31 1. 1 1 .13 4 .13 .22

2 ir ue of ssets 87.42 – 2. 2.77

3 t tus urp us De cit 26.85 (17.31) 30. 7 1 .13 4. 4 .22

4 Net Asset/(Liability) recognised in Balance Sheet As at 31st March, 2017 s t 31st rch 201 s t 1st pri 201

Current Curre t o curre t Curre t o curre t

r tuit – –

e e c shme t 2.59 14.72 3.7 11.3 2.0 .17

The e cess of p ssets o er prese t ue of e e e e t o i tio h s ot ee reco i e si ce the Comp oes ot h e u co itio ri ht of refu o er the e cess p ssets.

III

For the year ended 31st March, 2017



1 rese t ue of DB t the e i i of the e r 51.91 15.13 4 .13 .22

2 Curre t er ice Cost 3.27 1.96 2. 2.0

3 I terest Cost 3.80 1.02 3. 1 0. 2

4 Reme sureme t i s osses

ffect of ch es i emo r phic ssumptio s

ffect of ch es i ci ssumptio s 2.77 0.52

Ch es i sset cei i e c u i i terest i come

ffect of e perie ce ustme ts 1.21 1.70 2.20 . 3

Curt i me t Cost Cre it

ett eme t Cost Cre its

7 i i ities ssume i usi ess com i tio

ch e iffere ce o forei p s

Be e ts i (2.39) (3.02) 0.2 1.

10 Present Value of DBO at the end of the year 60.57 17.31 1. 1 1 .13

IV

As at 31st March, 2017 s t 31st rch 201

r tuit Nil i

e e c shme t NA

V

For the year ended 31st March, 2017 or the e r e e 31st rch 201


Change in Fair Value of Assets

1 ssets t the e i i of the e r 82.88 – 2.77 –

2 sset c uire i Busi ess Com i tio – – – –

3 pecte Retur o ssets 5.51 – 4. 0 –

4 Re me sureme t i s osses o p ssets 1.43 – 2 . –

ctu Comp Co tri utio s – – –

Be e ts i (2.39) – 0.2 –

thers – – – –

7 Plan Assets at the end of the year 87.43 – 2. 7 –

VI

As at 31st March, 2017 s t 31st rch 201

Expected Return on Plan Assets (%)

Discount Rate (%) pecte Retur o ssets

Discou t R te

1 r tuit 6.50 6.75 .1 7. 0

2 e e c shme t NA 6.75 7. 0

The estim tes of future s r i cre ses co si ere i ctu ri u tio s t e ccou t of i tio se iorit promotio other re e t f ctors such s supp em f ctors i the emp o me t m r et.

3

WIMCO LIMITED


VII I the se ce of et i e i form tio re r i p ssets hich is fu e ith I sur ce Comp ies the compositio of e ch m or c te or of p ssets the perce t e or mou t for e ch c te or to the f ir ue of p ssets h s ot ee isc ose .

The e estim tes ssumptio s use i the prep r tio of ci st teme ts re set out e o

The etermi tio of Comp s i i it to r s e e e e t o i tio to emp o ees is m e throu h i epe e t ctu ri u tio i c u i etermi tio of mou ts to e reco i e i the i come st teme t i other comprehe si e i come. uch u tio epe upo ssumptio s etermi e fter t i i to ccou t i tio se iorit promotio other re e t f ctors such s supp em f ctors i the emp o me t m r et.

i The Comp h s prep re the ope i ce sheet s per I s of 1st pri 201 the tr sitio te reco isi ssets i i ities hose reco itio is re uire I ot reco isi items of ssets or i i ities hich re ot permitte I rec ssif i items from pre ious e er

ccepte ccou ti ri cip es to I s re uire u er I pp i I i me sureme t of reco ise ssets i i ities.

ii . Reco ci i tio of the st o e ci resu ts of those reporte u er pre ious re summ ri e e o

(` in hs

rticu rs otes e r e e 31 03 201

(20.68)

h re se p me ts 14 20.4

Rec ssi c tio of ctu ri i s osses risi i respect of emp o ee e e t schemes to ther Comprehe si e I come CI

. 3

(35.33)

(5.83)

(41.16)

B. There is o ch e i tot e uit s reporte u er pre ious s reporte u er I .

iii I 101 o s rst time opters e emptio s from the retrospecti e pp ic tio of cert i re uireme ts u er I . The Comp h s pp ie the fo o i e emptio s e ceptio s i st o e ci st teme ts

. ropert t uipme t I t i e ssets ere c rrie i the st teme t of ci positio prep re i ccor ce ith pre ious o 1st pri 201 . The Comp h s e ecte to re r such c rr i ues s eeme cost t the te of tr sitio .

. U er pre ious the cost of optio s r te to seco e emp o ees u er the ITC mp o ee toc ptio cheme ITC e uit sett e s reco ise usi the i tri sic ue metho . U er this metho o e pe ses ere reco ise i the st teme t of pro t oss s the f ir ue

of the sh res o the te of r t e u e the e ercise price. U er I the cost of optio s r te u er ITC is reco ise se o the f ir ue of the optio s s o the r t te. The cost of ITC h s ee reco i e s emp o ee e e t e pe ses co se ue ti i i it et of

reim urseme ts h e ee co si ere s c pit co tri utio .

i I itio to the o e the pri cip ustme ts m e the Comp i rest ti its pre ious ci st teme ts i c u i the ce sheet s t 1st pri 201 the ci st teme ts s t for the e r e e 31st rch 201 re et i e e o

. U er pre ious ctu ri i s osses re te to the e e e e t co tri utio schemes for r tuit i i ities to r s emp o ee e e e c shme t ere reco ise i pro t or oss. U er I the ctu ri i s osses form p rt of reme sureme t of the et e e e e t i i it sset hich is reco ise i CI.

. U er I c sh cre it f ci ities hich re rep e o em form i te r p rt of e tit s c sh m eme t s stem re i c u e i c sh c sh e ui e ts for the purpose of prese t tio of st teme t of c sh o s. here s u er pre ious there s o simi r ui ce he ce o er r fts ere co si ere simi r to other orro i s the mo eme ts therei ere re ecte i c sh o s from ci cti ities.

o e er si ce the Comp h cre it ce i its c sh cre it ccou t s o 31st rch 201 1st pri 201 the s me s re c ssi e u er c sh c sh e ui e ts hi e prep ri st teme t of c sh o u er pre ious .

24. SIGNIFICANT ACCOUNTING POLICIES

These ci st teme ts h e ee prep re i ccor ce ith I i ccou ti t r s I oti e u er sectio 133 of the Comp ies ct 2013. The ci st teme ts h e so ee prep re i ccor ce ith the re e t prese t tio re uireme ts of the Comp ies ct 2013. The

Comp opte I from 1st pri 201 .

Up to the e r e e 31st rch 201 the Comp prep re its ci st teme ts i ccor ce ith the re uireme ts of pre ious hich i c u es t r s oti e u er the Comp ies ccou ti t r s Ru es 200 . These re the Comp s rst I ci st teme ts. Det i s of the e ceptio s optio e emptio s i e the Comp pri cip ustme ts o ith re te reco ci i tio s re et i e i ote 23 irst Time optio .

2. Basis of Preparation

The ci st teme ts re prep re i ccor ce ith the historic cost co e tio e cept for cert i items th t re me sure t f ir ues s e p i e i the ccou ti po icies e o . The ci st teme ts re prese te i I i Rupees I R hich is so the Comp s fu ctio curre c . The ci st teme ts re prese te i Rupees hs.

ir ue is the price th t ou e recei e to se sset or p i to tr sfer i i it i or er tr s ctio et ee m r et p rticip ts t the me sureme t te re r ess of hether th t price is irect o ser e or estim te usi other u tio tech i ue. I estim ti the f ir ue of

sset or i i it the Comp t es i to ccou t the ch r cteristics of the sset or i i it if m r et p rticip ts ou t e those ch r cteristics i to ccou t he prici the sset or i i it t the me sureme t te.

The prep r tio of ci st teme ts i co formit ith I re uires m eme t to m e u eme ts estim tes ssumptio s th t ffect the pp ic tio of the ccou ti po icies the reporte mou ts of ssets i i ities the isc osure of co ti e t ssets i i ities t the te of the

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ci st teme ts the reporte mou ts of re e ues e pe ses uri the e r. ctu resu ts cou iffer from those estim tes. The estim tes u er i ssumptio s re re ie e o o oi sis. Re isio s to ccou ti estim tes re reco ise i the perio i hich the estim te is re ise if the re isio ffects o th t perio the re reco ise i the perio of the re isio future perio s if the re isio ffects oth curre t future perio s.

ssets i i ities h e ee c ssi e s curre t or o curre t s per the Comp s orm oper ti c c e other criteri set out i the che u e III to the Comp ies ct 2013 se o the ture of pro ucts the time et ee the c uisitio of ssets for processi their re is tio i c sh c sh e ui e ts.

s t 31st rch 2017 the et orth of the Comp h s ee su st ti ero e ue to ccumu te osses restructuri . The ci st teme ts h e ee prep re o oi co cer sis s the ho i comp is committe to pro i e ci support s ppro e the sh reho ers of the Comp s he sou ht.

ropert p t e uipme t re st te t cost of c uisitio or co structio ess ccumu te epreci tio imp irme t if .

Cost is i c usi e of i r frei ht uties t es i ci e t e pe ses re te to c uisitio . u se ue t costs re i c u e i the sset s c rr i mou t o he it is pro e th t future eco omic e e ts ssoci te ith the item i e re i e . The c rr i mou t of rep ce p rt is ereco i e . other rep irs m i te ce re ch r e to the st teme t of ro t oss.

oft re is c pit ise here it is e pecte to pro i e future e uri eco omic e e ts. C pit is tio costs i c u e ice ce fees costs of imp eme t tios stem i te r tio ser ices. The costs re c pit ise i the e r i hich the re e t soft re is imp eme te for use.

Depreci tio or morti tio of these ssets comme ces he the ssets re re for their i te e . Depreci tio or mortis tio is c cu te i m er th t mortises the cost of the ssets ess its resi u ue o er their usefu i es s speci e i che u e II of the Comp ies ct 2013 o str i ht i e sis.

is ot epreci te .

Resi u ues usefu i es re re ie e re tre te s ch es i ccou ti estim tes t e ch ce sheet te.

Imp irme t oss is pro i e if to the e te t the c rr i mou t of ssets e cee their reco er e mou t.

Reco er e mou t is hi her of sset s et se i price its ue i use. ue i use is the prese t ue of estim te future c sh o s e pecte to rise from the co ti ui use of sset from its ispos t the e of its usefu ife.

Imp irme t osses reco ise i prior e rs re re erse he there is i ic tio th t the imp irme t osses reco ise o o er e ist or h e ecre se . uch re ers s re reco ise s i cre se i c rr i mou t of ssets to the e te t th t it oes ot e cee the c rr i mou ts th t ou h e ee etermi e et of mortis tio or epreci tio h o imp irme t oss ee reco ise i pre ious e rs.

Ch es i the e pecte usefu ife or the e pecte p tter of co sumptio of future eco omic e e ts em o ie i the sset re co si ere to mo if the mortis tio perio or metho s ppropri te re tre te s ch es i ccou ti estim tes.

6. Inventories

I e tories i c u i or i pro ress re st te t o er of cost et re is e ue. The cost is c cu te o ei hte er e metho . Cost comprises e pe iture i curre i the orm course of usi ess i ri i such i e tories to its prese t oc tio co itio i c u es here pp ic e ppropri te o erhe s se o orm e e of cti it . et re is e ue is the estim te se i price ess estim te costs for comp etio s e.

Cost of purch se i e tories re etermi e fter e ucti re tes iscou ts.

so ete s o mo i efecti e i e tories re i e ti e t the time of perio ic ph sic eri c tio of i e tories here ecess r m r o is m e for such i e tories.

7. Foreign Currency Transactions

The Comp ccou t for tr s ctio s i forei curre c t the e ch e r te pre i i o the te of tr s ctio s. i s osses risi o sett eme t of such tr s ctio s s so the tr s tio of mo et r items t perio e s ue to uctu tio s i the e ch e r tes re reco i e i the t teme t of ro t

oss.

o et r ssets i i ities e omi te i forei curre cies s t the ce sheet te re tr s te t the c osi e ch e r tes o th t te the resu t t e ch e iffere ces re reco i e i the st teme t of pro t oss.

i ci ssets ci i i ities re reco i e he the Comp ecomes p rt to the co tr ctu pro isio s of the re e t i strume t. i ci ssets re ereco i e he the ri hts to recei e e e ts h e e pire or ee tr sferre the Comp h s tr sferre su st ti ris s

re r s of o ership of such ci sset. i ci i i ities re ereco i e he the i i it is e ti uishe th t is he the co tr ctu o i tio is isch r e c ce e or e pires. urch se or s e of ci ssets th t re uire e i er of ssets ithi time fr me est ishe re u tio or co e tio

i the m r et p ce re u r tr es re reco i e o the tr e te i.e. the te he the Comp commits to purch se or se the sset.

9. Trade Receivables

Tr e recei es re i iti me sure t tr s ctio ue hich is the f ir ue su se ue t ret i e t cost ess ppropri te o ce for cre it osses s recei es of the Comp re curre t i ture. here si i c t o curre t recei es re ccou te for t mortise cost usi effecti e i terest r te metho ess ppropri te o ce for cre it osses. I terest is ccou te for o the sis of co tr ctu terms here pp ic e is i c u e i i terest i come. Imp irme t osses re reco i e i the pro t or oss here there is o ecti e e i e ce th t the Comp i ot e e to co ect the ue mou ts.


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Re e ue from s es of oo s is reco i e t f ir ue of mou ts recei e recei e o tr sfer of si i c t ris s re r s of o ership to the u er. es re ccou te for i c usi e of e cise ut ut et of s es t iscou ts. er ice I come is ccrue s ser ices re re ere se o respecti e co tr ctu terms.

The co tri utio s i respect of e e e e t r tuit fu re m e to ife I sur ce Corpor tio IC u er its roup r tuit cheme. The ccou ti ch r e for e e ts u er the e e e e t o i tio is c cu te i epe e t ctu r usi the pro ecte u it cre it metho . er ice costs et i terest e pe se or i come is re ecte i the st teme t of pro t oss. i or oss o ccou t of re me sureme ts re reco i e imme i te throu h

ther Comprehe si e I come i the perio i hich the occur.

The emp o ees of the Comp re e tit e to compe s te e e for hich the Comp recor s the i i it se o ctu ri u tio compute u er pro ecte u it cre it metho . These e e ts re u fu e . er ice costs et i terest e pe se or i come is re ecte i the st teme t of pro t oss.

i or oss o ccou t of re me sureme ts re reco i e imme i te throu h ther Comprehe si e I come i the perio i hich the occur.

uit sett e sh re se p me ts pert i i to the emp o ees epute emp o ees of ITC imite ith respect to mp o ees toc ptio s of ITC imite the ho i comp r te to the e tit e emp o ees re me sure t the f ir ue of the e uit i strume ts of the ho i comp t the r t te o er esti ser ice perio o str i ht i e sis. The f ir ue of e uit sett e sh re se p me t tr s ctio s re reco ise i the st teme t

of pro t oss ith correspo i cre it to e uit et of reim urseme ts if .

13. Earnings per Share (EPS)

B sic e r i s per sh re is compute i i i the et pro t for the perio ttri ut e to the e uit sh reho ers the ei hte er e um er of e uit sh res outst i uri the reporti perio . Di ute is compute i i i the et pro t for the perio ttri ut e to the e uit sh reho ers the ei hte er e um er of e uit e ui e t i uti e e uit sh res outst i uri the perio e cept here the resu ts ou

e ti i uti e.

To pro i e curre t t i the st teme t of pro t oss s the mou t of t p e i respect of t e i come for the perio usi t r tes e cte or su st ti e e cte uri the perio to ether ith ustme t to t p e i respect of pre ious e rs. I come t i so f r s it re tes to items

isc ose u er ther Comprehe si e I come re isc ose sep r te u er ther Comprehe si e I come.

Deferre t is pro i e usi the ce sheet ppro ch pro i i for tempor r iffere ces et ee the c rr i mou ts of ssets i i ities for ci reporti purposes the mou ts use for t tio purposes.

t e ch ce sheet te the Comp re ssesses u reco ise eferre t ssets. It reco i es u reco ise eferre t ssets to the e te t th t it h s ecome re so cert i s the c se m e th t suf cie t future t e i come i e i e i st hich such eferre t ssets c e re ise .

or o eh f of the Bo r

RAJIV TANDON R SENGUTTUVAN Ch irm i Director

ce o t S. K. SIPANI SAURABH PALD te th 2017 Comp ecret r Chief i ci f cer

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