HINDALCO ANNUAL REPORT 2011-12 PDF

HINDALCO ANNUAL REPORT 2011-12 PDF

Annual Report i W . Hindalco Industries Limited, the metals flagship company of the. Aditya Birla 12 Months 12 Months. Annual Report 2. A Metals Powerhouse. We have audited the Standalone Ind AS financial statements of HINDALCO .. The Supreme Court. Green Cess. Cess. to

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Mar 31, Dear Shareholder. The Directors have pleasure in presenting the 59 th Annual Report and the audited standalone and consolidated financial statements of your company for the year ended 31 st March, For the year ended 31 st March,the Board of Directors of your Company has recommended dividend of Rs. Equity shares that may be allotted upon exercise reporr Options granted under the Employee Stock Option Scheme and out of hindapco Share Capital Suspense, and before the Book Closure for payment of dividend will rank pari passu with the existing shares and shall also be entitled to receive the aforesaid dividend.

Hindalco registered a revenue of Rs. Depreciation was higher by 13 percent due to progressive capitalization and certain reclassification in FY The Finance Cost was down by 18 percent at Rs.

Net Profit for Anmual stood at Rs. Net Profit in FY18, trebled at Rs. Utkal Alumina revenues has grown to Rs. The Profit after tax in FY 18 was Rs. Performance highlights of Novelis Inc. This will further enhance the copper rod capacity of its Dahej Plant. Novelis with its objective to invest in world class assets and technical capabilities to position itself to meet the increasing global demand for aluminium from the Automotive market, announced its plans to setup a Kt automotive finishing facility in Guthrie, Kentucky, US which is expected to be commissioned in CY Novelis has agreed to acquire the operating facilities and manufacturing assets at its plant in Sierre, Switzerland, that has been historically leased.

Several innovative people – focused initiatives have been instituted at the Group level, and these are translated into action at all of the Group Companies. Our basic objective is to ensure that a robust talent pipeline and a high-performance culture, centred around accountability is in place.

We feel this is critical to enable us retain our competitive edge. The engagement has resulted into patent applications, which have been and will be assigned to your company on the grant of the patent.

During the year ended 31 st March,the Company has allotted 1,33, fully paid-up equity share of Rs.

Annual Reports archive

During the year ended 31 st March,the Company has allotted 15,75, fully paid-up equity share of Rs. Your Directors reaffirm their continued commitment to good corporate governance practices. Members who desire to obtain the full version of the Annual Report may write to the Company Secretary at the registered office.

However, in line with the provisions of Section 1 of the Act, the Report and Accounts as set out therein, are being sent to all Members of your Company excluding the hinda,co information about the employees.

Any Member, who is interested in obtaining these particulars about employees, may write to the Company Secretary at the Registered Office of your Company. Hinsalco resume of the director being reappointed form part of the notice of the ensuing Annual General Meeting. Bharucha has given the required declarations under the Companies Act, and Listing Regulations.

The Board recommends the reappointment of Mr. Kumar Mangalam Birla and appointment of Ms.

Items seeking your approval is included in the Notice convening the Annual General Meeting. Policy on appointment and remuneration of Directors and Key Managerial Personnel: The Board of Directors of your Company hinddalco five times during the year, details of which are given in the Corporate Reporg Report forming part of the Full Annual Report. The evaluation framework focused on various aspects of the Board and Committees such as review, timely information from management etc.

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Annual Reports archive – Hindalco

Also, the performance of individual directors was divided into Executive, Non Executive and Independent Directors and based on the parameters such as contribution, attendance, decision making, action oriented, external knowledge etc. The evaluation exercise has been carried out by the Board members on the basis of evaluation templates for Board, Hindlco Directors, Non Executive Directors, Executive Directors, Committees and Chairman of the Board.

The template had various questions to be replied by the directors on aforesaid parameters.

The Nomination and Remuneration Committee evaluated the performance on the basis of the response received from the Directors. Similarly, the Independent Directors evaluated the performance of non independent directors, Chairman anhual assessed the quality, quantity and flow of information between company management and Board.

Directors rated Executive Directors as action oriented and good in implementing Board decisions. The Audit Committee comprises of Mr.

Reports and Presentations – Hindalco

Dandiwala, Independent Directors of your Company. Managing Director and Mr. In terms of provisions of Section of the Companies Act,Mr. Chief Financial Officer and Mr.

The requirement to place the matter relating to appointment of the Auditors for ratification by the members at every Annual General Meeting is done away with vide notification dated 7 th May, issued by the Ministry of Corporate Affairs.

Accordingly, no resolution is proposed for ratification of appointment of the Auditors, who were appointed in the Annual General Hindslco held on 13 th September, As required under the Act, the remuneration hindalo to the cost auditor is required to be placed before the Members in a general meeting for their ratification.

Your Company is committed to sustainable development. Jagdish Khattar, Independent Director, Mr. Agarwala, Non Executive Director, Mr. The Committee recommends to the Board activities to be undertaken during the year. Your Company is a caring corporate citizen and lays significant emphasis on development of the communities around which it operates.

During the financial Year the Company has spent Rs. Risk evaluation and management reoprt an ongoing process within the Organization. Your Company has comprehensive risk management policy which is periodically reviewed by the Risk Management Committee.

There are no material transactions with any related party as defined under Section of the Act read with Companies Meetings of Board and its Powers Rules, and Listing Regulations. All related party transactions have been approved by the Audit Committee of your Company. The controls based on the prevailing business conditions and processes have been tested for operating 201-112 and no reportable material deficiencies in the design were observed. The Internal Audit team develops an annual audit plan based on the risk profile of the businesses.

The Internal Audit plan is approved by the Audit Reort, who also reviews compliance to the audit plan. The Audit Committee has appointed Internal Auditors who periodically audit the adequacy and effectiveness of the internal controls laid down by repot management and suggest improvements to strengthen the controls.

Significant audit observations and corrective action s thereon are presented to the Audit Committee. The Audit Committee reviews the reports submitted by the Internal Auditors in each of its meeting, quarterly.

Your directors confirm hindalcco laid down internal financial controls and that such internal financial controls are adequate and were operating effectively. In accordance with the provisions annusl the section 3 of the Act, read with the Companies Accounts Rules, annuzl, a report on the performance and financial position of each of the subsidiaries, associates and Joint Venture is attached as Annexure-VIII to the Rfport and Abridged Annual Report. The names of Companies which have become or ceased to be subsidiaries, Joint Ventures and associates are also provided in the aforesaid statement.

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Satish Pai is 2011-2 director on the Board of Reprot Inc, wholly owned subsidiary. Thus, as on March 31,there were no deposits which were unpaid or unclaimed and due for repayment. Rwport Directors place on record their sincere appreciation for the assistance and guidance provided by the Honorable Ministers, Secretaries and other officials of the Ministry of Mines, Ministry of Coal, the Ministry of Chemicals and Fertilizers and various State Governments.

Your Directors thank the Financial Institutions and Banks associated with your Company for their support as well. Their commitment and contribution is deeply acknowledged. Your involvement as Shareholders is greatly valued. Your Directors look forward to your continuing support. For and on behalf of the Board. Managing Director Independent Director. The Directors have pleasure in presenting the 58 th Annual Report and the audited standalone and consolidated financial statements of your company for the year ended 31 st March, Hindalco anhual Revenues of Rs.

Depreciation was up by 11 percent due to progressive capitalization. Interest expense was lower by 3 percent mainly on account of prepayment of loan. Net Profit for the fiscal year stood at Rs. The robust performance was supported by stable operations across businesses. For the fiscal yearnet profit stood at Rs.

This is the largest non-bank QIP in the last two years. In line with the purpose of the issue, the Company used the cash proceeds from QIP towards prepayment of Rs.

hindalo During the fiscal yearNovelis refinanced its USD 2. As a result, annual cash interest savings of USD 79 million has been achieved along with an extended debt maturity profile for the senior notes.

This venture, named Ulsan Aluminium Limited, will provide synergies to both the high-quality partners. Our basic objective is to ensure that a robust talent pipeline and a high-performance culture, centered around accountability is in place. The engagement has resulted into some patent applications, which have been and will be assigned to your company on the grant rwport the patent.

Several accolades have been conferred upon your Company, in recognition of its contribution in diverse field. Rashtra Vibhushan Gold Award presented by the Foundation for Accelerated Mass Development FAMEfor exemplary initiatives in the field of sustainable livelihood for socio-economic development of the community around the unit.

India CSR Award towards sustainable livelihood initiatives for the rural community around the unit. The Consolidated Financial Statements for the year ended 31 st March, have been prepared by your Company in accordance with the provisions of the Companies Act,read with the Companies Accounts Rules,applicable Accounting Standards and the provisions of Listing Regulations and forms part of the full Annual Report.

During the year ended 31 st March,the Company has allotted 4,43, fully paid-up equity share of Rs. During the year ended 31 st March,the Company has allotted 9,97, fully paid-up equity share of Rs. In terms of the provision of Section 1 of the Companies Act,Rule 10 of Companies Accounts of Companies Rules, and Regulation 36 of the Listing Regulations, the Board of Directors has decided to circulate the Abridged Annual Report containing salient features of the balance sheet and statement of erport and loss and other documents to the shareholders for the Financial Yearunder the relevant laws.

Disclosures pertaining to remuneration and other details as required under section 12 read with Companies Appointment and Remuneration of Managerial Personnel Rules, are attached as Annexure-III to the full and Abridged Annual Report.

Agarwala has given required declaration under Companies Act, hindallco Item seeking your approval is included in the Notice convening the Annual General Meeting.