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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Standalone Full year highlights Hindalco registered a revenue of Rs. We have not, however, made a detailed examination of the records with a view to determine whether they are accurate or complete. As such, the specific external event of exceptional nature is not expected to recur.
In accordance with the provisions of sections 2Aread with the Companies Particulars of Employees Rules,the names and other particulars of employees are to be set out in the directors report, as an addendum thereto. Further, as the Company had not accepted any deposit under Section 58A of the Companies Act, read with Companies Acceptance of Deposits Rules,in the previous year s and as there were no deposits which were unclaimed and due for repayment, as on March 31,there has been no default in repayment of deposits or payment of interest thereon during the year under review.
Accordingly, the following amounts have been adjusted against the BRR: The discrepancies noticed on the physical verification of inventory as compared to book stock were not material.
The continued optimization of Novelis’s footprint will improve its competitive position; these include the divesture of three foil plants in Europe and closure of an aluminum sheet mill in Canada.
In the Copper Business, revenue is higher at Hindalvo. However, the Company has raised Rs. The Internal Audit team develops an annual audit plan based on the risk profile of the businesses.
Accordingly, paragraph 3 xv of the Order is not applicable. The Company had formulated a scheme of fi nancial restructuring under Sections to of the Companies Act “the Scheme” between the Company and its equity shareholders approved by the High Court of judicature of Bombay to deal with various costs associated with its organic and inorganic growth plan. The previously announced expansion of the Pinda facility in Brazil is expected to be commissioned at the end of As an interim measure, the Company has applied to the Ministry of Coal for temporary supply of coal tapering linkage to the Mahan CPP, until the Company’s own mines commence operating at full capacity.
Directors Report of Hindalco Industries Ltd. Company
Since the impairment loss had been adjusted against BRR in as per the Court approved Scheme, the reversal of impairment loss of goodwill has also been adjusted against BRR in As required under the Act, the remuneration payable to the cost auditor is required to be placed before the Members in a general meeting for repprt ratifi cation.
Accordingly, no resolution is proposed for ratification of appointment of the Auditors, who were appointed in the Annual General Meeting held on 13 th September, Canada, which in turn repatriated the same as return of capital to its parent, AV Minerals Netherlands B.
They believe that the financial statements reflects fairly, the form and substance of transactions carried out during the year and reasonably present the Company’s financial condition and results of operations.
Directors Report of Hindalco Industries Ltd. For and on behalf of the Board Mumbai Chairman Dated 27th June, Mar 31, Dear Shareholders, The Board of Directors hereby presents the 52nd Annual Report, along with the audited annual standalone and consolidated accounts of your company for the year ended 31st March, During the year, Mr. Disclosures pertaining to remuneration and other details as required under section repport read with Companies Appointment and Remuneration of Managerial Personnel Rules, are attached hindzlco Annexure-II.
Transferred to General Reserve Consolidated Results Hindalco’s consolidated revenue at Rs. Transfer to General Reserve 1, Its premium product portfolio, long- term customer base and focused business model enabled Novelis to produce solid results for the year.
Net sales for fiscal were USD 8.
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All the Greenfield projects viz. The revenue in value terms was sustained. Mount Gordon mines operations is currently placed under care and maintenance and various strategic options are being evaluated including divestment.
Financial Performance summary The financial performance of the company for the year ended March 31, is summarized below: The construction of new automotive sheet finishing plant in Changzhou, China is also on track. Resolution seeking your ratifi cation is included in the Notice convening the Annual General Meeting. This reflects steady improvements in operations across the board. Executive Directors are action oriented and ensures timely implementation of the Board decisions.
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In accordance with the provisions of the section 3 of the Act, read with the Companies Accounts Rules,a report on the performance and financial position of each of the subsidiaries, associates and Joint Venture is attached as Annexure-VIII to the Full and Abridged Annual Report. Shipments of aluminium rolled products totalled 2, Kt for FY11, an increase of 10 percent compared to shipments of 2, Kt in the previous year.
Your Company”s internal Auditors have conducted periodic audits to provide reasonable assurance that the established policies and procedures have been followed.