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Jay Bharat Maruti Ltd.

BSE: 520066 | NSE: JAYBARMARU |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE571B01028 | SECTOR: Auto Ancillaries

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Annual Report

For Year :
2018 2017 2016 2015 2014 2013 2012 2011 2010

Director’s Report

DIRECTORS'' REPORT

To the Members,

Your Directors are pleased to present the Thirty First Annual Report on business and operations of your Company together with the Audited Financial Statement for the Financial Year ended 31st March, 2018.

1. FINANCIAL RESULTS

The Company''s financial performance, for the year ended 31st March, 2018 is summarized below:

(Rs. in Million)

Particulars

2017-18

2016-17

Total Income

17914.02

17334.71

Earnings before interest, depreciation, tax and amortization (EBIDTA)

1592.58

1,345.22

Finance Cost

201.19

182.98

Depreciation

491.03

414.30

Profit Before Tax

900.36

747.93

Tax Expense

311.46

210.19

Profit after Tax

588.91

537.74

Retained Earnings

Balance at the beginning of the Year

2592.30

2108.14

Profit for the Year

5,88.91

537.74

Other Comprehensive Income arising from remeasurement of defined benefit Obligation

(0.86)

(1.47)

Payment of dividend on equity shares

(54.13)

(43.30)

Corporate Dividend Tax paid

(11.02)

(8.81)

Balance at the end of the year

3115.20

2592.30

2. FINANCIAL HIGHLIGHTS

Your Company recorded total Revenue of 17,340.21 million (net of excise) during the financial year 2017-18 as compared to Rs. 15,280.48 million in the previous year, an increase of 13.48%. The EBIDTA has gone up by 18.39% during the financial year 2017-18 due to strong operational performance. The Profit Before Tax for the financial year 2017-18 amounts to Rs. 900.36 million as against Rs. 747.93 million for the previous year, showing an increase of 20.38%. The profit after tax has gone up in the financial year 2017-18 to Rs. 588.91 million as compared to Rs. 537.74 million in the previous year showing an increase of 9.52%. The reason for lower increase in Profit After Tax is due to non-availability of tax benefit under section 32AC of Income Tax Act in the current year.

3. DIVIDEND AND APPROPRIATION

(A) Dividend

Your Directors have recommended a dividend of Rs. 2.50 (i.e.50%) per equity share for the financial year ended 31st March, 2018, amounting to Rs. 54.13 Million (inclusive of Corporate Dividend Tax of Rs. 11.02 Millions). The dividend payout is subject to approval of members at the ensuing Annual General Meeting.

The dividend will be paid to members whose name appear in the Register of Members as on 27th August, 2018 and in respect of shares held in dematerialized form, it will be paid to members whose name are furnished by National Securities Depository Limited and Central Depository Services (India) Limited, as beneficial owners as on that date.

(B) Appropriation

During the financial year 2017-18, an amount of Rs. Nil was transferred to the General Reserve from the Profits of the Company.

4. MANAGEMENT DISCUSSION AND ANALYSIS REPORT

In terms of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Management Discussion and Analysis Report is given separately and forming part of the Annual Report.

5. CREDIT RATING

ICRA has assigned its credit rating of A1 for short term instruments which is the highest rating for credit quality and the rating for long term debt Instruments is AA- and indicating the outlook on the long term rating as Stable.

6. QUALITY

Your Company has implemented International Quality Management System based on the requirement of IATF 16949:2016. The Company has established, implemented and is maintaining an Information Security Management System. During the year, ISO 14001 surveillance was carried out by M/s American System Registrar, LLC and the auditors recommended the continuation of the ISO 14001. Apart from the above, your Company is also OHSAS-18001:2007 and ISO-14001:2015 certified.

7. HUMAN RESOURCES

The overall satisfaction of the employees of the Company is very high. Employees continued to take charge through collaborative approach and rigorous thinking which become possible through effective HR policies and its religious implementation. The employee''s relations were peaceful and harmonious throughout the year.

8. FIXED DEPOSITS

During the year under review, the Company has not accepted any deposits within the meaning of Section 73 of the Companies Act, 2013 read with the Companies (Acceptance of Deposits) Rules, 2014 and as such, no amount of principal or interest was outstanding on the date of the Balance Sheet.

9. DIRECTORS AND KEY MANAGERIAL PERSONNEL

Directors

Mr. Nishant Arya (DIN : 00004954) will retire by rotation at the ensuing Annual General Meeting and being eligible offers himself for re-appointment. The Board of Directors recommend his re-appointment. A brief profile and other details as required under Regulation 36 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 are provided in the notice of 31st Annual General Meeting of the Company.

Mr. Virender Ganda (DIN 01013057), Independent Director of the Company had resigned from the Directorship of the Company with effect from 16th January, 2018.

The company has appointed Mr. Dhanendra Kumar, recommmended by nomination and remuneration committee, as an additional Director and Independent Director of the Company in the Board Meeting held on 16th July, 2018 in place of Mr. Virender Ganda. An appropriate observation in this regard is given by Secretarial Auditor in its report dated 16th July, 2018.

Key Managerial Personnel

There is no change in the Key Managerial Personnel of the Company during the year 2017-2018.

10. DECLARATION OF INDEPENDENT DIRECTORS

The Independent Directors of the Company have given a declaration confirming that they meet the criteria of independence as prescribed under Section 149(6) of the Companies Act, 2013 (the Act) and the SEBI (Listing Regulations and Disclosure Requirements) Regulations, 2015.

The terms of appointment of Independent Directors may be accessed on the Company''s website at the link: http://www. jbmgroup.com/pdf/T8iC%20Appolntment%20of%20lndependent%20Dlrector/Jay-Bharat-Marutl-Ltd-terms-condltlons-of-appolntment-of-lndependent-Dlrectors.pdf

11. PERFORMANCE EVALUATION

Pursuant to the provisions of the Companies Act, 2013 and Regulation 17(10) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board has carried out the annual performance evaluation of its own performance, Directors individually as well as evaluation of its Committees. The evaluation criteria, inter-alia, covered various aspects of the Board functioning including its composition, attendance of Directors, participation levels, bringing specialized knowledge for decision making, smooth functioning of the Board and effective decision making.

The performance of individual Directors was evaluated on parameters such as level of engagement and contribution, independence of judgment and safeguarding the interest of the Company, etc. The Directors expressed their satisfaction with the evaluation process.

12. REMUNERATION POLICY

The policy for selection of Directors and determining Directors independence and the Remuneration Policy for Directors, Key Managerial Personnel & other employees are attached herewith and marked as Annexure-I and II respectively.

13. DIRECTORS'' RESPONSIBILITY STATEMENT

Pursuant to the provisions of Section 134 of the Companies Act, 2013, it is hereby confirmed that:

(a) in the preparation of the annual accounts for the year ended 31st March, 2018, the applicable accounting standards read with requirements set out under Schedule III to the Act, have been followed and there are no material departures from the same;

(b) the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at 31st March, 2018 and of the profit of the Company for the year ended on that date;

(c) the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

(d) the Directors have prepared the annual accounts on a ''going concern'' basis;

(e) the Directors have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and are operating effectively; and

(f) the Directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.

14. MEETINGS OF THE BOARD

Four meetings of the Board of Directors were held during the year. For details of the meeting of the Board, please refer to the Report on Corporate Governance. The intervening gap between two Board Meetings did not exceed 120 days.

15. AUDIT COMMITTEE

The Audit Committee comprises three Independent Directors & one Non-Executive Director namely Mr. U. C. Agarwal as Chairman, Mr. D. P. Agarwal, Mr. Achintya Karati and Mr. Nishant Arya as members. The powers and role of the Audit Committee are included in the Report on Corporate Governance. All the recommendations made by the Audit Committee were accepted by the Board.

16. CORPORATE GOVERNANCE

As required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the detailed report on corporate governance is given separately and forms part of the Annual Report and the certificate obtained from M/s Dhananjay Shukla & Associates, Company Secretaries regarding compliance of the conditions of corporate governance is attached to the said report.

17. RELATED PARTY TRANSACTIONS

All Related Party Transactions entered during the year were in the ordinary course of business and on arm''s length basis.

Omnibus approval is obtained from the Audit Committee for the related party transactions which are foreseen and repetitive in nature. A statement of all related party transactions are placed before the Audit Committee on quarterly basis for review.

The Policy on ''materiality of and dealing with related party transactions'', as approved by the Board may be accessed on the Company''s website at the link: http://www.jbmgroup.com/pdf/polides/JBML_Policy%20for%20determination%20 of%20Materiality%20of%20Event%20or%20information.pdf

The detail particulars of contracts or arrangements with related parties referred to in sub-section (1) of Section 188 of the Companies Act, 2013 read with Rule 8(2) of the Companies (Accounts) Rules, 2014 in Form AOC-2 is attached herewith and marked as Annexure -III.

18. CORPORATE SOCIAL RESPONSIBILITY

In compliance of the provisions of Section 135 of the Companies Act, 2013 read with the Companies (Corporate Social Responsibility Policy) Rules, 2014, the Company has constituted a Corporate Social Responsibility Committee (''CSR Committee''). The detailed terms of reference of the Corporate Social Responsibility Committee is provided in the Report on Corporate Governance. In pursuit of the responsibilities entrusted to the CSR Committee, a policy on Corporate Social Responsibility has been prepared and approved by the Board which may be accessed on the Company''s website at the link: http://www.jbmgroup.com/pdf/policies/CSR-policy.pdf

Annual Report on CSR activities of the Company in format prescribed in Companies (Corporate Social Responsibility Policy) Rules, 2014 is attached herewith and marked as Annexure-IV.

19. RISK MANAGEMENT

The Board of Directors has constituted Risk Management Committee to identify elements of risk in different areas of operations. The Company has developed and implemented a risk management policy for identifying the risk associated with business of the Company and measures to be taken to mitigate the same. The details of Risk Management Committee are included in the Report on Corporate Governance.

20. INTERNAL FINANCIAL CONTROLS

The Directors have laid down proper and adequate system of internal financial controls to be followed by the Company and such policies and procedures adopted by the Company for ensuring the orderly and efficient conduct of its business including adherence to Company''s policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the adequacy and completeness of accounting records and the timely preparation of reliable financial information, as required under the Companies Act, 2013.

To have robust internal financial controls, the Company has in place Standard Operating Procedures for all its critical business processes. Extensive use of SAP and other software systems have also resulted in strengthening the internal financial controls and accurate reporting of operational and financial data.

The Company has appointed M/s Mehra Goel & Co., Chartered Accountants, New Delhi as Internal Auditors to carry out Internal Audits. The Internal Auditors'' Reports are regularly reviewed by the Senior Management and the Audit Committee of the Board for its implementation and effectiveness.

21. AUDITORS AND AUDITORS'' REPORT

(a) Statutory Auditors

M/s Sahni Natarajan & Bahl (Firm Registration No. 002816N), Chartered Accountants, New Delhi had been appointed as Statutory Auditors of the Company in the 30th Annual General Meeting of the Company held on 18th August, 2017 to hold office from the conclusion of 30th Annual General Meeting until the conclusion of 35th Annual General Meeting.

Further, the Report given by the Statutory Auditors M/s Sahni Natarajan & Bahl (Firm Registration No. 002816N), Chartered Accountants, New Delhi on the financial statement of the Company is part of the Annual Report. The notes on the financial statement referred to in the Auditors Report are self-explanatory and do not call for any further comments. There has been no qualification, reservation or adverse remark or disclaimer in their Report.

(b) Secretarial Auditors

Pursuant to provisions of Section 204 of the Companies Act, 2013, the Company had appointed M/s Dhananjay Shukla & Associates, Company Secretaries, Gurgaon, Haryana as its Secretarial Auditors to conduct secretarial audit of the Company for the financial year 2017-18. The Report given by the Secretarial Auditors is annexed as Annexure-V and forms an integral part of this Report. There is no qualification or adverse remark in the report.

22. AWARDS AND ACCOLADES

Your Company has been recognized for the superior performance in the field of Support for Gujarat Localization for the year 2017-18 by Maruti Suzuki (India) Limited.

Your Company has been recognized for the superior performance in the field of Tooling Localization for the year 2017-18 by Maruti Suzuki (India) Limited.

Your Company has been recognized for the superior performance in the field of VA-VE for the year 2017-18 by Maruti Suzuki (India) Limited.

23. I. COMMISSIONING OF NEW PLANT AT VTTHALAPUR, GUJARAT

Your Company''s Plant established at Vithlapur in Gujarat, is now operational and is catering to the needs of M/s Suzuki Motor Gujarat Private Limited. The plant has state of the art facilities with special focus on automation so as to achieve consistent quality and productivity. The probability of Human error has significantly reduce by Automation. The new Plant facility includes automated transfer press line, robotic tendem press line, Progressive press line, robotic welding line and CED paint shop.

The Phase-II of expansion at the new plant is also underway so as to increase the capacity to cater to 5,00,000 numbers of vehicles of M/s Suzuki Motor Gujarat Private Limited.

II. ESTABLISHMENT OF NEW TOOL ROOM JOINT VENTURE WITH M/S OGIHARA THAILAND CO. LTD

Your Company is expanding its tooling manufacturing capacity and has obtained Know how for localizing High tensile dies and critical BIW parts. The Company is setting up a new tool room in association with M/s Ogihara (Thailand) Co. Ltd and M/s JBM Auto Limited for manufacturing of press stamping dies including Ultra High Tensile and critical BIW Dies. A new joint venture Company named M/s JBM Ogihara Die Tech Private Limited is incorporated. The tool room will be situated at Greater Noida in Uttar Pradesh and is expected to be operational by next financial year. The tool room will work for localization of imported tooling.

24. VIGIL MECHANISM/ WHISTLE BLOWER POLICY

The Company promotes ethical behaviour in all its business activities and has put in place a vigil mechanism for Directors, Employee and other person dealing with the Company for reporting illegal or unethical behaviour, actual or suspected fraud or violation of the company''s Code of Conduct. The mechanism provides for adequate safeguards against victimization of Directors, employees or other persons who avail of the mechanism. In exceptional cases, Directors and employees have direct access to the Chairman of the Audit Committee.

The Vigil Mechanism (Whistle Blower Policy) is available on the Company''s website, which may be accessed at the link: http://www.jbmgroup.com/pdf/policies/JBML Whistle-Blower-Policy.pdf

25. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS

The details of investments made by the Company are given in the notes to the financial statement. During the year under review, the Company has neither given loans, guarantee nor provided any security to anyone.

26. MATERIAL CHANGES AND COMMITMENT AFFECTING FINANCIAL POSITION OF THE COMPANY

No material changes have occurred and commitments made, affecting the financial position of the Company between the end of the financial year of the Company i.e. 31st March, 2018 and the date of this Report i.e. 16th July, 2018.

27. DETAIL OF SUBSIDARIES, JOINT VENTURES AND ASSOCIATE COMPANIES

None of the Company has become or ceased to become the subsidiary, joint venture or associate of the Company during the Financial Year 2017-18.

28. DETAILS OF SIGNIFICANT AND MATERIAL ORDER

No significant and material order have been passed by any regulator or court or tribunal impacting the going concern status or future operations of the Company.

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

The particulars relating to conservation of energy, technology absorption, foreign exchange earnings and outgo, as required to be disclosed under the Act, are provided in Annexure - VI to this Report.

30. DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013

The Company promotes a healthy and congenial working environment irrespective of gender, caste, creed or social class of the employees and value every individual and committed to protect the dignity and respect of every individual.

The Company has always endeavored for providing a better and safe environment free of sexual harassment at all its work places.

During the year under review, no cases of sexual harassment against women employees at any of its work place were filed under Section 22 of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.

31. EXTRACT OF ANNUAL RETURN

The extract of Annual Return in Form MGT -9 as required under Section 134(3)(a) of the Companies Act, 2013 read with Rule 12 of the Companies (Management and Administration) Rules, 2014 is given in Annexure - VII to this Report.

32. EMPLOYEES STOCK OPTION PLANS /SCHEMES

No Employee Stock Options were granted to the Directors or Employees of the Company during the year under review.

33. PARTICULARS OF EMPLOYEES

In terms of the provisions of Section 197(12) of the Act read with Rules 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, a statement showing the names and other particulars of the employees drawing remuneration in excess of the limits set out in the said rules are form part of the Annual Report.

Disclosures pertaining to remuneration and other details as required under Section 197(12) of the Act read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are form part of the Annual Report.

However, as per first proviso to Section 136(1) of the Act, the Annual Report excluding the aforesaid information is being sent to the members of the Company. The said information is available for inspection at the registered office of the Company during working hours and any member interested in obtaining a copy of such information may write to the Company Secretary at the registered office of the Company and the same will be furnished without any fee.

34. ACKNOWLEDGEMENT

Your Directors acknowledge the continued assistance, guidance and Co-operation received from Maruti Suzuki India Limited, Suzuki Corporation Limited (Japan), Suzuki Motor Gujarat Private Limited and all its other technical partners.

Your Directors also wish to express their sincere appreciation for the assistance and co-operation received from the Banks, State Government and Central Government authorities, customers, vendors and members during the year under review. Your Directors also wish to place on record their deep sense of appreciation for the committed services rendered by all the employees of the Company.

For and on behalf of the Board of Directors

Sd/-

S. K. Arya

Place Gurugram

Chairman & Managing Director

Date: 16 July, 2018

DIN: 00004626

ANNEXURE-I

POLICY FOR SELECTION OF DIRECTORS AND DETERMINING DIRECTORS'' INDEPENDENCE

1. Introduction

1.1 Jay Bharat Maruti Limited (JBML) believes that an enlightened Board consciously creates a culture of leadership to provide a long-term vision and policy approach to improve the quality of governance. Towards this, JBML ensures constitution of a Board of Directors with an appropriate composition, size, diversified expertise and experience and commitment to discharge their responsibilities and duties effectively.

1.2 JBML recognizes the importance of Independent Directors in achieving the effectiveness of the Board. JBML aims to have an optimum combination of Executive, Non-Executive and Independent Directors.

2. Scope and Exclusion

2.1 This Policy sets out the guiding principles for the Nomination and Remuneration Committee for identifying persons who are qualified to become Directors and to determine the independence of Directors, in case of their appointment as Independent Directors of the Company.

3. Definition

3.1 Director means a Director appointed to the Board of a Company.

3.2 Nomination and Remuneration Committee means the committee constituted by JBML''s Board in accordance with the provisions of Section 178 of the Companies Act, 2013 and Regulation 19 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

3.3 Independent Director means a Director referred to in sub-section (6) of Section 149 of the Companies Act, 2013 and Regulation 25 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

4. Policy

4.1 Qualifications and criteria

4.1.1 The Nomination and Remuneration Committee and the Board, shall review on an annual basis, appropriate skills, knowledge and experience required of the Board as a whole and its individual members. The objective is to have a Board with diverse background and experience that are relevant for the Company''s operations.

4.1.2 In evaluating the suitability of individual Board members, the Nomination and Remuneration Committee may take into account factors such as:

General understanding of the Company''s business and social perspective;

Educational and professional background Standing in the profession; Personal and professional ethics, integrity and values;

Willingness to devote sufficient time and energy in carrying out their duties and responsibilities effectively.

4.1.3 The proposed appointee shall also fulfill the following requirements: Shall possess a Director Identification Number; Shall not be disqualified under the Companies Act, 2013; Shall give his/her written consent to act as a Director; Shall endeavour to attend all Board Meetings and wherever he is appointed as a Committee Member, the Committee Meetings;

Shall abide by the Code of Conduct established by the Company for Directors and Senior Management Personnel;

Shall disclose his concern or interest in any company or companies or bodies corporate, firms, or other association of individuals including his shareholding at the first meeting of the Board in every financial year and thereafter whenever there is a change in the disclosures already made;

Such other requirements as may be prescribed, from time to time, under the Companies Act, 2013, the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and other relevant laws.

4.1.4 The Nomination and Remuneration Committee shall evaluate each individual with the objective of having a group that best enables the success of the Company''s business.

4.2 Criteria of Independence

4.2.1 The Nomination and Remuneration Committee shall assess the independence of Directors at the time of appointment / re-appointment and the Board shall assess the same annually. The Board shall re-assess determinations of independence when any new interests or relationships are disclosed by a Director.

4.2.2 The criteria of independence, as laid down in Companies Act, 2013 and Regulation 25 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 are as under:

An Independent Director in relation to a Company, means a Director other than a Managing Director or a Whole-Time Director or a Nominee Director -

a. who, in the opinion of the Board, is a person of integrity and possesses relevant expertise and experience;

b. (i) who is or was not a promoter of the Company or its holding, subsidiary or associate company;

(ii) who is not related to promoters or Directors in the company, its holding, subsidiary or associate company;

c. who has or had no pecuniary relationship with the company, its holding, subsidiary or associate company, or their promoters, or directors, during the two immediately preceding financial years or during the current financial year;

d. none of whose relatives has or had pecuniary relationship or transaction with the company, its holding, subsidiary or associate company, or their promoters, or Directors, amounting to two per cent or more of its gross turnover or total income or fifty lakh rupees or such higher amount as may be prescribed, whichever is lower, during the two immediately preceding financial years or during the current financial year;

e. who, neither himself nor any of his relatives—

(i) holds or has held the position of a Key Managerial Personnel or is or has been employee of the company or its holding, subsidiary or associate company in any of the three financial years immediately preceding the financial year in which he is proposed to be appointed;

(ii) is or has been an employee or proprietor or a partner, in any of the three financial years immediately preceding the financial year in which he is proposed to be appointed, of -

(A) a firm of auditors or company secretaries in practice or cost auditors of the company or its holding, subsidiary or associate company; or

(B) any legal or a consulting firm that has or had any transaction with the company, its holding, subsidiary or associate company amounting to ten per cent or more of the gross turnover of such firm;

(iii) holds together with his relatives two per cent or more of the total voting power of the company; or

(iv) is a Chief Executive or Director, by whatever name called, of any non-profit organization that receives twenty-five per cent or more of its receipts from the company, any of its promoters, directors or its holding, subsidiary or associate company or that holds two per cent or more of the total voting power of the company; or

(v) is a material supplier, service provider or customer or a lessor or lessee of the company.

f. shall possess appropriate skills, experience and knowledge in one or more fields of finance, law, management, sales, marketing, administration, research, corporate governance, technical operations, corporate social responsibility or other disciplines related to the Company''s business.

g. shall possess such other qualifications as may be prescribed, from time to time, under the Companies Act, 2013.

h. who is not less than 21 years of age.

4.2.3 The Independent Directors shall abide by the Code for Independent Directors as specified in Schedule IV to the Companies Act, 2013.

4.3 Other Directorships / Committee Memberships

4.3.1 The Board members are expected to have adequate time and expertise and experience to contribute to effective Board performance. Accordingly, members should voluntarily limit their Directorships in other listed public limited companies in such a way that it does not interfere with their role as Directors of the Company. The Nomination and Remuneration Committee shall take into account the nature of and the time involved in a Director''s service on other Boards, in evaluating the suitability of the individual Director and making its recommendations to the Board.

4.3.2 A Director shall not serve as Director in more than 20 companies of which not more than 10 shall be Public Limited Companies.

4.3.3 A Director shall not serve as an Independent Director in more than 7 Listed Companies and not more than 3 Listed Companies in case he is serving as a Whole-time Director in any Listed Company.

4.3.4 A Director shall not be a member in more than 10 Committees or act as Chairman of more than 5 Committees across all companies in which he holds Directorships. For the purpose of considering the limit of the Committees, Audit Committee and Stakeholders'' Relationship Committee of all Public Limited Companies, whether listed or not, shall be included and all other companies including Private Limited Companies, Foreign Companies and Companies under Section 8 of the Companies Act, 2013 shall be excluded.

ANNEXURE - II

REMUNERATION POLICY FOR DIRECTORS, KEY MANAGERIAL PERSONNEL AND OTHER EMPLOYEES

1. Introduction

1.1 Jay Bharat Maruti Limited (JBML) recognizes the importance of aligning the business objectives with specific and measureable individual objectives and targets. The Company has therefore formulated the remuneration policy for its Directors, Key Managerial Personnel and other employees keeping in view the following objectives:

1.1.1 Ensuring that the level and composition of remuneration is reasonable and sufficient to attract, retain and motivate, to run the company successfully.

1.1.2 Ensuring that relationship of remuneration to performance is clear and meets the performance benchmarks.

1.1.3 Ensuring that remuneration involves a balance between fixed and incentive pay reflecting short and long term performance objectives appropriate to the working of the company and its goals.

2. Scope and Exclusion:

2.1 This Policy sets out the guiding principles for the Human Resources, Nomination and Remuneration Committee for recommending to the Board the remuneration of the Directors, Key Managerial Personnel and other employees of the Company.

3. Definition:

3.1 Director means a Director appointed to the Board of the Company.

3.2 Key Managerial Personnel means

(i) the Managing Director or the Chief Executive Officer or the Manager;

(ii) the Whole-time director;

(iii) the Company secretary;

(iv) the Chief Financial Officer; and

(v) such other officer as may be prescribed under the Companies Act, 2013

3.3 Nomination and Remuneration Committee means the committee constituted by JBML''s Board in accordance with the provisions of Section 178 of the Companies Act, 2013 and Clause 49 of the Listing Agreement with the Stock Exchanges.

4. Policy:

4.1 Remuneration to Executive Directors and Key Managerial Personnel

4.1.1 The Board, on the recommendation of the Nomination & Remuneration Committee, shall review and approve the remuneration payable to the Executive Directors of the Company within the overall limits approved by the shareholders.

4.1.2 The Board, on the recommendation of the Nomination & Remuneration Committee, shall also review and approve the remuneration payable to the Key Managerial Personnel of the Company.

4.1.3 The remuneration structure to the Executive Directors and Key Managerial Personnel shall include the following components:

(i) Basic Pay;

(ii) Perquisites and Allowances;

(iv) Commission (applicable in case of Executive Directors);

(v) Retiral benefits; (vi) Performance Bonus;

4.2 Remuneration to Non-Executive Directors

4.2.1 The Board, on the recommendation of the Nomination & Remuneration Committee, shall review and approve the remuneration payable to the Non- Executive Directors of the Company within the overall limits approved by the shareholders.

4.2.2 Non-Executive Directors shall be entitled to sitting fees for attending the meetings of the Board and the Committees thereof.

4.3 Remuneration to other employees

4.3.1 Employees shall be assigned grades according to their qualifications and work experience, competencies as well as their roles and responsibilities in the organization. Individual remuneration shall be determined within the appropriate grade and shall be based on various factors such as job profile, skill sets, seniority, experience and prevailing remuneration levels for equivalent jobs.

ANNEXURE-III

FORM No. AOC -2

(Pursuant to clause (h) of sub-section (3) of section 134 of the Act and Rule 8(2) of the Companies (Accounts) Rules, 2014.

Form for Disclosure of particulars of contracts/arrangements entered into by the company with related parties referred to in sub section (1) of section 188 of the Companies Act, 2013 including certain arm''s length transaction under third proviso thereto.

1. Details of contracts or arrangements or transactions not at Arm''s length basis.

SI. No.

Name(s) of the related party

Nature of relationship

Nature of contracts/ arrangements/ transactions

Duration of the contracts/ arrangements/ transactions

Salient terms of the contracts or arrangements or transactions including the value, if any

Justification for entering into such contracts or arrangements or transactions''

Date of approval by the Board/ Audit Committee

Amount paid as advances, if any

Date on which the special resolution was passed in General meeting as required under first proviso to section 188

NOT APPLICABLE

2. Details of material contracts or arrangements or transactions at Arm''s length basis.

SI No.

Name (s) of the related party

Nature of relationship

Nature of contracts/ arrangements/ transactions

Duration of the contracts/ arrangements/ transactions

Salient terms of the contracts or arrangements or transactions including the value, if any

Date of approval by the Board /Audit Committee

Amount paid as advances, if any

1

Maruti Suzuki India Ltd.

Associate Company

Sale, Purchase or Supply of goods or Materials

Ongoing Transactions

Transactions in the ordinary course of business which are based on transfer pricing guidelines

19.04.2017

Nil

2

Neel Metal Products Ltd.

Public Company in which Director is a director Holding more than 2% of its paid up share capital

Sale, Purchase or Supply of goods or Materials

Ongoing Transactions

Transactions in the ordinary course of business which are based on transfer pricing guidelines

19.04.2017

Nil

ANNEXURE - IV Annual Report on Corporate Social Responsibility (CSR) activities for the financial year 2017-18

1.

A brief outline of the company''s CSR policy, including overview of projects or programs proposed to be undertaken and a reference to the web-link to the CSR policy and projects or programs.

As per Section - Corporate Social Responsibility in Directors'' Report.

2.

Composition of the CSR Committee

i. Mr. U. C. Agarwal, Chairman ii. Mr. D. P. Agarwal, Member iii. Ms. Esha Arya, Member

3.

Average net profit of the Company for last three financial years

Rs. 6,027.40 Lakhs

4.

Prescribed CSR Expenditure (two per cent of the amount mentioned in item 3 above)

Rs. 120.55 Lakhs

5.

Details of CSR spent during the financial year:

a. Total amount to be spent for the financial year

Rs. 121.93 Lakhs

b. Amount unspent, if any

NIL

c. Manner in which the amount spent during the financial year

As per detail given below

Detail of amount spent on CSR activities during the financial year 2017-18:

SI. No.

CSR Project or activity identified

Sector in which the project is covered

Projects or Programs

(1) Local area or other

(2) Specify the State and District where projects or programs was undertaken

Amount outlay (budget) project or program wise

(Rs. in Lakhs)

Amount spent on the projects or programs Sub heads: (1) Direct Expenditure on the project or programs (2) Overheads:

(Rs. in Lakhs)

Cumulative expenditure up to the reporting period i.e. FY2017-18

(Rs. in Lakhs)

Amount spent: Direct or through implementing agencies

(1)

(2)

(3)

(4)

(5)

(6)

(7)

(8)

1.

Promoting women empowerment by establishing institutions and Medical relief to the people

Promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, day care centres and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups.

Local Area

75.00

75.00

75.00

Through Implementing Agency:-Shri Madhav Jan Sewa Nyas

2

Medical and Healthcare programmes and women empowerment

Promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, day care centres and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups.

Local Area

25.00

25.00

25.00

Through Implementing Agency :- Moga Devi Minda Charitable Trust

3.

Production & promotion of CDs on moral value/motivation education for distribution at various schools and institutions

Promoting Education

Local Area

16.82

16.82

16.82

Direct

4.

Plantation of Trees :

Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agroforestry, conservation of natural resources and maintaining quality of soil, air and water

Local Area

5.00

5.00

5.00

Through Implementing Agency :-Jal Vayu Sanrakshan Samiti

5.

Community Development:

• Promoting Education

• Establishment of Public Libraries

• Setting up of old age homes

• Protection of National Heritage

In Panchkula district of Haryana

0.11

0.11

0.11

Through implementing agency :- Neel Foundation

6. In case the company has failed to spend the two per cent of the average net profit of the last three financial years or any part thereof, the company shall provide the reasons for not spending the amount in its Board report- NA

As a responsible corporate citizen, the Company has been implementing societal activities as per prescribed schedule VII of the Companies Act, 2013. Additionally, the Company has spent an amount above 2% of the average net profits of the last three financial years, which is eligible under the CSR rules and will continue to increase this in a step up manner with plans for 2% CSR spend in 2018-19.

7. Responsibility Statement

The Responsibility Statement of the Corporate Social Responsibility (CSR) Committee of the Board of Directors of the Company is reproduced below:

The implementation and monitoring of Corporate Social Responsibility (CSR) Policy, is in compliance with the CSR objectives and Policy of the Company.

Sd/-

Sd/-

S. K. Arya

U. C. Aggarwal

Chairman & Managing Director

Chairman, CSR Committee

DIN: 00004626

DIN: 00012468

ANNEXURE - V FORM NO. MR-3

SECRETARIAL AUDIT REPORT FOR THE FINANCIAL YEAR ENDED 31ST MARCH, 2018

[Pursuant to section 204 (1) of the Companies Act, 2013 and Rule No.9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014]

To,

The Members,

M/s Jay Bharat Maruti Limited

Regd. Office.:-601, Hemkunt Chambers, 89, Nehru Place, New Delhi-110019

We have conducted the secretarial audit of the compliance of applicable statutory provisions and the adherence to good corporate practices by M/s Jay Bharat Maruti Limited, (hereinafter called the Company). The Secretarial Audit was conducted in a manner that provided us a reasonable basis for evaluating the corporate conducts/ statutory compliances and expressing our opinion thereon.

Based on our verification of the Company''s books, papers, minute books, forms and returns filed and other records maintained by the Company and also the information provided by the Company, its officers, agents and authorized representatives during the conduct of secretarial audit, we hereby report that in our opinion, the Company has, during the audit period covering the financial year ended 31st March 2018 complied with the statutory provisions listed hereunder and also that the Company has proper Board-processes and compliance-mechanism in place to the extent, in the manner and subject to the reporting made hereinafter:

We have examined the books, papers, minute books, forms and returns filed and other records maintained by the Company for the financial year ended 31st March 2018 according to the provisions of:

i. The Companies Act, 2013 (the Act) and the rules made thereunder;

ii. The Securities Contracts (Regulation) Act, 1956 (''SCRA) and the Rules made thereunder;

iii. The Depositories Act, 1996 and the Regulations and Bye-laws framed thereunder;

a. The Foreign Exchange Management Act, 1999 and the Rules and Regulations made thereunder to the extent

of Foreign Direct Investment, Overseas Direct Investment and External Commercial Borrowings (No event took place under this Act during Audit period);

iv. The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act, 1992 (''SEBI Act''):-

a. The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011;

b. The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015;

c. The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 (No event took place under this Regulation during Audit period);

d. The Securities and Exchange Board of India (Share based Employees Benefit) Regulation,2014; (No event took place under this Regulation during Audit period );

e. The Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008 (No event took place under this Regulation during Audit period );

f. The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 regarding the Companies Act and dealing with client (No event took place under this Regulation during Audit period);

g. The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 (No event took place under this Regulation during Audit period ); and

h. The Securities and Exchange Board of India (Buyback of Securities) Regulations,1998(No event took place

under this Regulation during Audit period);

v. There were no specific laws applicable to the Company by virtue of the Company being engaged in the business of auto

ancillary/components manufacturing, as informed by the management of the Company, during the period under audit.

We have also examined compliance with the applicable clauses of the following:

I. Secretarial Standards issued by The Institute of Company Secretaries of India on Board Meetings (SS-1) and General Meetings (SS-2);

II. The Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

During the period under audit, the Company has complied with the provisions of the Acts, Rules, Regulations, Guidelines, Standards, etc.

We further report that-

The Board of Directors of the Company is duly constituted with proper balance of Executive Director, Non-Executive Directors, Independent Directors and Women Director. The changes in the composition of the Board of Directors that took place during the period under review were carried out in compliance with the provisions of the Act. However, after resignation of Shri Virender Ganda, Independent Director w.e.f 16th January 2018, the number of Independent Directors have come down to three from required four Independent Directors. The Company, through written representation, has informed us that the company took necessary steps to identify and appoint to fill the vacancy of Independent Director and the Nomination and Remuneration committee of the company has recommended Mr. Dhanendra Kumar (DIN:05019411) in its meeting held on 16th July 2018, to the Board of Directors for his appointment as Independent Director. The Board has appointed Mr. Dhanendra Kumar (DIN: 05019411) as Independent Director in its Board Meeting held on 16th July 2018.

Adequate notice has been given to all Directors to schedule the Board Meetings, agenda and detailed notes on agenda were sent at least seven days in advance, and a system exists for seeking and obtaining further information and clarifications on the agenda items before the meeting and for meaningful participation at the meeting.

All decisions at Board Meetings and Committee Meetings are carried out unanimously as per the minutes, as duly recorded and signed by the Chairman, of the meeting of the Board of Directors or committees of the Board, therefore no dissenting views were there required to be recorded as part of the minutes.

We further report that there are adequate systems and processes in the Company commensurate with the size and operations of the Company to monitor and ensure compliance in respect of applicable laws , rules, regulations and guidelines etc.

We further report that during the audit period the Company has undertaken no activities having a major bearing on the Company''s Affairs in pursuance of the above referred laws, rules, regulations, guidelines, etc.

For Dhananjay Shukla & Associates

Company Secretaries

Sd/-

Dhananjay Shukla

Date: 16th July 2018

Proprietor

Place: Gurugram

FCS-5886, CP No. 8271

''Annexure-A''

To,

The Members,

M/s Jay Bharat Maruti Limited

Regd. Office:-601, Hemkunt Chambers,

89, Nehru Place,

New Delhi-110019

Our report of even date is to be read along with this letter:

1. Maintenance of secretarial record is the responsibility of the management of the Company. Our responsibility is to express an opinion on these secretarial records based on our audit.

2. We have followed the audit practices and processes as were appropriate to obtain reasonable assurance about the correctness of the contents of the Secretarial Records. The verification was done on test basis to ensure that correct facts are reflected in secretarial records. We believe that the processes and practices, we followed provide a reasonable basis for our opinion.

3. We have not verified the correctness and appropriateness of financial records and Books of Accounts of the Company. We have not examined the compliance by the company with applicable financial laws like Direct and Indirect Tax Laws, since the same has been subject to review by the Statutory and other Audit and by other designated professionals.

4. Where ever required, we have obtained the Management representation about the compliance of laws, rules and regulations and happening of events etc.

5. The compliance of the provisions of Corporate and other applicable laws, rules, regulations, standards is the responsibility of management. Our examination was limited to the verification of procedures on test check basis.

6. The Secretarial Audit Report is neither an assurance as to the future viability of the Company nor of the efficacy or effectiveness with which the management has conducted the affairs of the Company.

For Dhananjay Shukla & Associates

Company Secretaries

Sd/-

Dhananjay Shukla

Date: 16th July 2018

Proprietor

Place: Gurugram

FCS-5886, CP No. 8271

ANNEXURE- VI

Particulars of Energy Conservation, Technology Absorption and Foreign Exchange Earning & Outgo required under the Companies (Accounts) Rules, 2014

A. Conservation of energy

(i) Steps taken for conservation of energy

Various energy conservation measures taken by the Company during the year under review are:

(a) AC Drive provided in paint shop on Oven Exit Blower and canopy entry blower to reduce energy consumption when oven door is closed.

(b) AC Drive provided in Paint shop on Oven Main Blower to reduce energy consumption when oven door is open.

(c) Interlock provided in paint shop so that KOD Degreasing Pump is off when no basket in KOD and Degreasing Tank. Frequency of oven blower also reduced from 50 HZ to 40 HZ.

(d) Interlock provided at the scrap conveyor so that it will be off during die change.

(e) Three phase Fan (750 watt & 550 watt) replaced with single phase Fan (180 watt & 100 watt) as per cooling air requirement.

(f) Reduction of compressed air by 100 CFM by change in pipeline layout in Exhaust and Axle Line.

(g) Installation of LED Light in PDI Area and inspection table in place of conventional lights.

(ii) Steps taken by the Company for utilizing alternate source of energy

Installation of solar systems for using solar energy which will be a low cost source of energy and beneficial for eco system for its new plant at Vithlapur, Gujarat.

(iii) Capital Investment on energy conservation equipments

All energy conservation measures have been taken by process optimization without any major capital investment.

B. Technology absorption

(i) Efforts made towards technology absorption

(a) To meet the business requirements, the Company has imported and absorbed the Japanese Technology for production of Rear Axle for new models of MSIL. Welding process designing, line layout is finalized by the Company under guidance of Yorozu Corporation, Japan. Complete manufacturing, installation and fine tuning of the line is done by local team.

(b) To meet the stringent quality requisites for Rear axles in new models , Company has introduced a state of art MIG welding technology Active - Tawers series Robot by Panasonic, the Key features includes - High operating speed of the order 100 cm / min In comparison to 50 cm/ min in conventional robot, without sacrificing - Weld penetration and generates very low spatters - at New Wagonr rear axle line - J3.

(c) MIG-Weld bead analysis by Online checking through vision camera , to prevent the poor weld parts to escape to next weld station - at Ignis rear axle line - J1.

(ii) The benefit derived like production improvement, cost reduction, product development or import substitution

(a) The above projects helped us in reduction of development time and subsequent reduction in investment.

(b) Saving of foreign exchange due to localization of ''Rear Axle production line''.

(c) Tawers series has a direct impact on productivity improvement with a great control on Weld quality.

(d) Introducing Vision camera for weld analysis, is a good initiative to keep a check on weld quality output and control the NG parts to Outflow.

(e) PRESS SHOP FAGOR (SPAIN) make SERVO lead press installed in J2 plant for following advantages

i). More flexibility for draw operations of typical parts as slide speed can be controlled at various stages of single cycle.

ii) No flywheel, clutch & brake and related controls. Less maintenance & ease in operation. iii) Latest technology in stamping for better draw quality, longer die life, lesser noise during operation & lesser power consumption.

(iii) Information regarding imported technology (Imported during last three years)

Detail of Technology Imported

Technology Imported from

Year of Import

Whether the Technology been fully absorbed

For Manufacturing of Rear Axle of Baleno Model of MSIL

Yorozu Corporation, Japan

2015-16

Yes

For Manufacturing of Rear Axle of New Swift Dzire Model of MSIL

Yorozu Corporation, Japan

2016-17

Yes

For manufacturing of Rear Axle of New Swift Dzire Model of MSIL

Yorozu Corporation, Japan

2017-18

Yes

(iv)

Expenditure incurred on research and development

SI. No.

Particulars

(Rs. in Million)

(a)

Capital

Nil

(b)

Revenue

6.41

Total:

6.41

(v)

Foreign Exchange Earnings and Outgo

Particulars

(Rs. in Million)

Foreign exchange earned in terms of actual inflow

Nil

Foreign exchange outgo in terms of actual outflow

76.25

FORM NO. MGT 9 EXTRACT OF ANNUAL RETURN AS ON FINANCIAL YEAR ENDED ON 31.03.2018

[Pursuant to Section 92(3) of the Companies Act, 2013 and rule 12(1) of the Company (Management & Administration) Rules, 2014]

I.

REGISTRATION & OTHER DETAILS:

1

CIN

L29130DL1987PLC027342

2

Registration Date

19* March, 1987

3

Name of the Company

Jay Bharat Maruti Limited

4

Category/Sub-category of the Company

Public Company

5

Address of the Registered office & contact details

601, Hemkunt Chambers, 89, Nehru Place, New Delhi - 110019 E-mail: jbml.investor@jbmgroup.com Ph. 011-26427104; Fax: 011-26427100

6

Whether listed company

Yes

7

Name, Address & contact details of the Registrar & Transfer Agent, if any.

MCS Share Transfer Agent Limited F- 65, 1st Floor, Okhla Industrial Area, Phase -I, New Delhi - 110020 Ph. 011-41609386; 41406149; 41709885

II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

(All the business activities contributing 10 % or more of the total turnover of the company shall be stated)

S. No.

Name and Description of main products / services

NIC Code of the Product/service

% to total turnover of the company

1

Sheet Metal Components for Automobiles

25910

64.74%

2

Real Axle

29301

25.89%

III.

PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES -

SI. No.

Name and Address of the Company

CIN / GIN

Holding / Subsidiary/ Associates

% of Share held

Applicable Section

1.

Maruti Suzuki India Limited

L34103DL1981PLC011375

Associates

29.28

2(6)

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

(A) Category-wise Share Holding

No. of Shares held at the beginning of the year [As on 1st April, 2017]

No. of Shares held at the end of the year [As on 31st March, 2018]

Category of Shareholders

Demat

Physical

Total

% of Total Shares

Demat

Physical

Total

% of Total Shares

% Change during the year

A. Promoter''s

(1) Indian

a) Individual/ HUF

3162950

-

3162950

14.61

3162950

-

3162950

14.61

0.00

b) Central Govt

-

-

-

-

-

-

-

-

-

c) State Govt(s)

-

-

-

-

-

-

-

-

-

d) Bodies Corp.

9516350

-

9516350

43.95

9516350

-

9516350

43.95

0.00

e) Banks / FI

-

-

-

-

-

-

-

-

-

f) Any other

-

-

-

-

-

-

-

-

-

Total shareholding of Promoter (A)

12679300

-

12679300

58.56

12679300

-

12679300

58.56

0.00

B. Public Shareholding

-

1. Institutions

-

-

-

-

-

-

-

-

a) Mutual Funds

698540

3400

701940

3.24

108485

3400

111885

00.52

(84.06)

b) Banks / FI

4529

1200

5729

0.03

1459

1200

2659

00.01

(53.58)

c) Central Govt

200

-

200

0.00

98405

-

98405

00.45

49102.5

d) State Govt(s)

-

-

-

-

-

-

-

-

e) Venture Capital Funds

-

-

-

-

-

-

-

-

f) Insurance Companies

10100

1000

11100

0.05

16103

1000

17103

00.08

54.08

q) FIIs

8582

2000

10582

0.05

19513

1600

21113

00.10

99.51

h) Foreign Venture Capital Funds

-

-

-

-

-

-

-

-

i) Others (specify)

-

-

-

-

-

-

-

-

Sub-total (B)(1):-

721951

7600

729551

3.37

243965

7200

251165

1.16

(65.71)

2. Non-Institutions

a) Bodies Corp.

i) Indian

3792336

668404

4460740

20.60

3955981

668400

4624381

21.35

3.66

ii) Overseas

-

-

-

-

-

-

-

-

b) Individuals

i) Individual shareholders holding nominal share capital upto Rs.. 2 lakh

2042665

466852

2509517

11.59

2556322

351232

2907554

13.43

15.86

ii) Individual shareholders holding nominal share capital in excess of Rs..2 lakh

1034694

48800

1083494

5.00

963827

48800

1012627

4.68

(6.54)

c) Others (specify)

NBFCs Registered with RBI

-

-

-

175

-

175

0.00

.00

Non Resident Indians

105398

82000

187398

0.86

125198

49600

174798

0.82

(6.72)

Overseas Corporate Bodies

-

-

-

-

-

-

-

-

Foreign Nationals

-

-

-

-

-

-

-

-

Clearing Members

-

-

-

-

-

-

-

-

Trusts

-

-

-

-

-

-

-

-

Foreign Bodies - D R

-

-

-

-

-

-

-

-

Sub-total (B)(2):-

6975093

1266056

8241149

38.07

7601503

1118032

8719535

40.28

5.80

Total Public Shareholding

(B) = (B)(1) (B)(2)

7697044

1273656

8970700

41.44

7845468

1125232

8970700

41.44

0

C. Shares held by Custodian for GDRs & ADRs

-

-

-

-

-

-

-

-

Grand Total (A B C)

20376344

1273656

21650000

100

20524768

1125232

21650000

100

0

(B) Shareholding of Promoters-

Shareholding at the beginning of the year [As on 1st April, 2017]

Shareholding at the end of the year [As on 31st March, 2018]

SI. No.

Shareholder''s Name

No. of Shares

% of total Shares of the company

% of Shares Pledged / encumbered to total shares

No. of Shares

% of total Shares of the company

% of Shares Pledged / encumbered to total shares

% change in shareholding during the year

1

Maruti Suzuki India Limited

6340000

29.28

-

6340000

29.28

-

-

2

ANS Holding Pvt. Ltd.

2029000

9.37

-

2029000

9.37

-

-

3

Sanjay Singhal

1900400

8.78

-

1900400

8.78

-

-

4

JBM Industries Ltd.

616000

2.85

-

616000

2.85

-

-

5

Sanjay Singhal (HUF)

500000

2.31

-

500000

2.31

-

-

6

Shrey Singhal

445600

2.06

-

445600

2.06

-

-

7

Super Auto Industries (P) Ltd.

324000

1.50

-

324000

1.50

-

-

8

A To Z Securities Ltd.

207350

0.96

-

207350

0.96

-

-

9

Surendra Kumar Arya

177350

0.82

-

177350

0.82

-

-

10

Neelam Arya

106800

0.49

-

106800

0.49

-

-

11

Surendra Kumar Arya (HUF)

28800

0.13

-

28800

0.13

-

-

12

Nishant Arya

4000

0.02

-

4000

0.02

-

-

Total:

12679300

58.56

-

12679300

58.56

-

-

(C) Change in Promoters'' Shareholding:

SI. No.

Name

Shareholding

Date

Increase/ Decrease in Shareholding

Reason

Cumulative Shareholding during the year (01.04.17 to 31.03.18)

No. of shares at the beginning (01.04.2017) / end of the year (31.03.2018)

% of total Shares of the Company

No. of shares

% of total Shares of the Company

NIL

(D) Shareholding Pattern of top ten Shareholders:

(Other than Directors, Promoters and Holders of GDRs and ADRs):

SI. No.

Name

Shareholding

ing

Date

Increase / Decrease in Shareholding

Reason

Cumulative Shareholding during the year (01.04.17 to 31.03.18)

No. of shares at the beginning (01.04.2017) / end of the year (31.03.2018)

% of total Shares of the Company

No. of shares

% of total shares of the company

1.

Focal Leasing & Credits Ltd.

981336 981336

4.53 4.53

01.04.2017 31.03.2018

-

-

981336

4.53

2.

SMC Credits Ltd.

822800 822800

3.80 3.80

01.04.2017 31.03.2018

-

-

822800

3.80

3.

Shuklamber Exports Ltd.

800452 800452

3.70 3.70

01.04.2017 31.03.2018

-

-

800452

3.70

4.

Amity Infotech

615965

2.85

01.04.2017

Pvt. Ltd.

615965

2.85

31.03.2018

-

-

615965

2.85

5.

Pine Consultant Pvt. Ltd.

600800 600800

2.78 2.78

01.04.2017 31.03.2018

-

-

600800

2.78

6.

Kedar Dattatraya Borgaonkar

429788

1.99

01.04.2017

07.04.2017

-4136

Sale

425652

1.97

14.04.2017

2500

Purchase

428152

1.98

05.05.2017

-1250

Sale

426902

1.97

08.09.2017

14048

Purchase

440950

2.04

01.12.2017

16000

Purchase

456950

2.11

456950

2.11

31.03.2018

456950

2.11

7.

Super Auto Industries Pvt. Ltd.

199662

0.92

01.04.2017

21.07.2017

-8000

Sale

191662

0.89

191662

0.89

31.03.2018

191662

0.89

8.

AS. Lamba

180000

0.83

01.04.2017 14.04.2017

-200

Sale

179800

0.83

21.04.2017

200

Purchase

180000

0.83

28.04.2017

-700

Sale

179300

0.83

05.05.2017

-700

Sale

178600

0.82

07.07.2017

500

Purchase

179100

0.83

14.07.2018

2000

Purchase

181100

0.84

18.08.2017

900

Purchase

182000

0.84

27.10.2017

-300

Sale

181700

0.84

10.11.2017

-1100

Sale

180600

0.83

17.11.2017

-1600

Sale

179000

0.83

24.11.2017

-3000

Sale

176000

0.81

01.12.2017

-1000

Sale

175000

0.81

08.12.2017

-1000

Sale

174000

0.80

15.12.2017

-1000

Sale

173000

0.80

05.01.2018

2000

Purchase

175000

0.81

09.03.2018

-1000

Sale

174000

0.80

174000

0.80

31.03.2018

174000

0.80

SI. No.

Name

Shareholding

Date

Increase/ Decrease in Shareholding

Reason

Cumulative Shareholding during the year (01.04.17 to 31.03.18)

No. of shares at the beginning (01.04.2017) / end of the year (31.03.2018)

% of total Shares of the Company

No. of shares

% of total shares of the company

9.

D. Srimathi

116146

0.54

01.04.2017

09.06.2017

2500

Purchase

118646

0.55

12.01.2018

871

Purchase

119517

0.55

119517

0.55

31.03.2018

119517

0.55

10.

Kedar Dattatraya Borgaonkar

153706

0.71

01.04.2017

07.04.2017

-8559

Sale

145147

0.67

14.04.2017

-2500

Sale

142647

0.66

05.05.2017

-9330

Sale

133317

0.62

12.05.2017

-14525

Sale

118792

0.55

19.05.2017

-400

Sale

118392

0.55

04.08.2017

-2500

Sale

115892

0.54

15.09.2017

-9501

Sale

106391

0.49

06.10.2017

-2621

Sale

103770

0.48

13.10.2017

-54

Sale

103716

0.48

103716

0.48

31.03.2018

103716

0.48

11.

L and T Mutual Fund Trustee Ltd-L and T India Value Fund

690654

3.19

01.04.2017

26.05.2017

15757

Purchase

706411

3.26

30.06.2017

10000

Purchase

716411

3.31

07.07.2017

-36293

Sale

680118

3.14

14.07.2017

-26585

Sale

653533

3.02

21.07.2017

-148980

Sale

504553

2.33

28.07.2018

-11044

Sale

493509

2.28

04.08.2017

-17293

Sale

476216

2.20

18.08.2017

-27816

Sale

448400

2.07

13.10.2017

-178589

Sale

269811

1.25

02.02.2018

-21263

Sale

248548

1.15

16.02.2018

-6306

Sale

242242

1.12

97563

0.45

31.03.2018

-144589

Sale

97653

0.45

(E) Shareholding of Directors and Key Managerial Personnel:

Shareholding at the beginning of the year

Cumulative Shareholding during the year

SI. No.

Shareholding of each Directors and each Key Managerial Personnel

No. of shares

% of total shares of the company

No. of shares

% of total shares of the company

1

Surendra Kumar Arya

At the beginning of the year

177350

0.82

Sale/Purchase during the year

-

-

At the end of the year

177350

0.82

177350

0.82

2

Nishant Arya

At the beginning of the year

4000

0.02

Sale/Purchase during the year

-

-

At the end of the year

4000

0.02

4000

0.02

3

Anand Swaroop

At the beginning of the year

2000

0.01

Sale/Purchase during the year

-

-

At the end of the year

2000

0.01

2000

0.01

V. INDEBTEDNESS - Indebtedness of the Company including interest outstanding/accrued but not due for payment.

(Rs in Million)

Secured Loans excluding deposits

Unsecured Loans

Deposits

Total Indebtedness

Indebtedness at the beginning of the financial year

i) Principal Amount

2,553.58

-

-

2,553.58

ii) Interest due but not paid

2.37

-

-

2.37

iii) Interest accrued but not due

5.81

-

-

5.81

Total (i ii iii)

2,561.76

-

-

2,561.76

Change in Indebtedness during the financial year

* Addition

430.27

-

-

430.27

* Reduction

-

-

-

-

Net Change

430.27

-

-

430.27

Indebtedness at the end of the financial year

i) Principal Amount

2983.85

-

-

2983.85

ii) Interest due but not paid

-

-

-

-

iii) Interest accrued but not due

13.93

-

-

13.93

Total (i ii iii)

2,997.78

-

-

2,997.78

VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

A. Remuneration to Managing Director, Whole-time Directors and/or Manager:

(Rs in Million)

S.No.

Particulars of Remuneration

Name of MD/WTD/ Manager

Total Amount

Mr. S. K. Arya Chairman & Managing Director

1

Gross salary

(a) Salary as per provisions contained in section 17(1) of the Income-tax Act, 1961

19.55

19.55

(b) Value of perquisites u/s 17(2) Income-tax Act, 1961

3.96

3.96

(c) Profits in lieu of salary under section 17(3) Income- tax Act, 1961

.

.

2

Stock Option

-

-

3

Sweat Equity

-

-

4

Commission - as % of profit - others, specify...

17.54

17.54

5

Others, please specify

-

-

Total (A)

41.05

41.05

Ceiling as per the Act

Rs. 43.94 Million (being 5% of the net profits of the Company calculated as per Section 198 of the Companies Act, 2013

B. Remuneration to other Directors

(Rs in Million)

SI. No.

Particulars of Remuneration

Name of Directors

Total Amount

1

Independent Directors:

Mr. U.C. Agarwal

Mr. D.P. Agarwal

Mr. Achintya Karati

Mr. Virender Ganda

Fee for attending board /committee meetings

0.18

-

0.14

0.02

0.34

Commission

-

-

-

-

-

Others, please specify

-

-

-

-

-

Total (1)

0.18

-

0.14

0.02

0.34

2

Other Non-Executive Directors

Mr. Nishant Arya

Ms. Esha Arya

Mr. Rajiv Gandhi

Fee for attending board /committee meetings

0.12

_

0.08

0.20

Commission

-

-

-

-

Others, please specify

-

-

-

-

Total (2)

0.12

-

0.08

0.20

Total (B) = (1 2)

0.30

-

0.22

0.54

Total Managerial Remuneration*

41.59*

Overall Ceiling as per the Act

Rs 9.27 Million (Being 1% of the net profits of the Company calculated as per Section 198 of the Companies Act, 2013)

* Total Remuneration to the Chairman and Managing Director and other Directors (being the Total of A and B)

C. Remuneration to Key Managerial Personnel other than MD/Manager/WTD

As per the provisions of section 136 (1) read with relevant proviso of Companies Act 2013, the aforesaid information is excluded from this Annexure. Any member interested in obtaining such information may write to the Company Secretary at the registered office or the corporate office of the Company.

VII. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES:

Type

Section of the Companies Act

Brief Description

Details of Penalty/ Punishment/ Compounding fees imposed

Authority [RD/NCLT/ COURT]

Appeal made, if any (give Details)

A. COMPANY

Penalty

Punishment

Compounding

B. DIRECTORS

Penalty

NIL

Punishment

Compounding

C. OTHER OFFICERS IN DEIFAULT

Penalty

Punishment

Compounding

Director’s Report