23 Apr 2017 | Livemint.com

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Last Updated: Mar 31, 03:44 PM
Bosch Ltd.

BSE

  • 22,778.60 171.55 (0.76%)
  • Vol: 1095
  • BSE Code: 500530
  • PREV. CLOSE
    22,607.05
  • OPEN PRICE
    22,648.90
  • BID PRICE (QTY.)
    0.00(0)
  • OFFER PRICE (QTY.)
    22,778.60(4)

NSE

  • 22,751.25 0.00 (0%)
  • Vol: 16558
  • NSE Code: BOSCHLTD
  • PREV. CLOSE
    22,751.25
  • OPEN PRICE
    22,660.00
  • BID PRICE (QTY.)
    0.00(0)
  • OFFER PRICE (QTY.)
    0.00(0)

Bosch Ltd. Accounting Policy

REPORT ON CORPORATE GOVERNANCE

Company's philosophy on Code of Governance

The Company is committed to good Corporate Governance practices aimed at increasing value for all stakeholders. The Company as a constituent of the Bosch Group has always been a value driven Company. The Company's corporate governance philosophy is based on Bosch values focusing on fairness, responsibility, openness and trust, reliability, credibility and legality.

The Bosch Values and Bosch Code of Business Conduct provides necessary framework in running the business with the highest standards of corporate governance and enable the Company to fulfill its legal, financial and ethical objectives. The Company has a well-informed and Independent Board for ensuring the same.

Board of Directors  

Composition of the Board:

The Board comprises of an optimum mix of Executive and Non-Executive Directors. The Board has one woman director. Half of the Board comprises of Independent Directors. The Directors of the Company are persons of eminence having vast and varied experience in manufacturing, marketing, sales, banking, financial and business administration.

Audit Committee

During the period January 01, 2014 to March 31, 2015, Eight Audit Committee meetings were held on February 27, 2014, April 25, 2014, June 05, 2014, August 11, 2014, September 09, 2014, November 11, 2014, December 03, 2014 and February 13, 2015.

All members of the Audit Committee possess requisite qualification and have sound knowledge of finance, accounts and internal control.

The Board of Directors at their meeting held on June 05, 2014 revised the terms of reference of the Audit Committee in line with Section 177 of the Companies Act, 2013 and Clause 49 of the Listing Agreement.

The revised terms of reference of the Audit Committee is set out below:-

1. Oversight of the Company's financial reporting process and the disclosure of its financial information to ensure that the financial statement is correct, sufficient and credible;

2. Recommend appointment, remuneration and terms of appointment of auditors of the Company;

3. Approval of payment to statutory auditors for any other services rendered by the statutory auditors;

4. Reviewing, with the management, the annual financial statements and auditor's report thereon before submission to the Board for approval, with particular reference to:

a. matters required to be included in the Director's Responsibility Statement to be included in the Board's report in terms of clause (c) of sub­section 3 of section 134 of the Companies Act,  2013;

b. changes, if any, in accounting policies and practices and reasons for the same;

c. major accounting entries involving estimates based on the exercise of judgment by management;

d. significant adjustments made in the financial statements arising out of audit findings;

e. compliance with listing and other legal requirements relating to financial statements;

f. disclosure of any related party transactions;

g. qualifications in the draft audit report;

5. Reviewing with the management the quarterly financial statements before submission to the Board for approval;

6. Reviewing with the management the statement of uses / application of funds raised through an issue (public issue, rights issue, preferential issue, etc.), the statement of funds utilized for purposes other than those stated in the offer document / prospectus / notice and the report submitted by the monitoring agency monitoring the utilisation of proceeds of a public or rights issue, and making appropriate recommendations to the Board to take steps in this matter;

7. Review and monitor the auditor's independence and performance, and effectiveness of audit process;

8. Approval or any subsequent modification of transactions of the Company with related parties;

9. Scrutiny of inter-corporate loans and investments;

10. Valuation of undertakings or assets of the

Company, wherever it is necessary;

11. Evaluation of internal financial controls and risk management systems;

12. Reviewing with the management performance of statutory and internal auditors, adequacy of the internal control systems;

13. Reviewing the adequacy of internal audit function, if any, including the structure of the internal audit department, staffing and seniority of the official heading the department, reporting structure coverage and frequency of internal audit

14. Discussion with internal auditors of any significant findings and follow up there on;

15. Reviewing the findings of any internal investigations by the internal auditors into matters where there is suspected fraud or irregularity or

a failure of internal control systems of a material nature and reporting the matter to the Board;

16. Discussion with statutory auditors before the audit commences, about the nature and scope of audit as well as post-audit discussion to ascertain any area of concern;

17. To look into the reasons for substantial defaults in the payment to the depositors, debenture holders, shareholders (in case of non-payment of declared dividends) and creditors;

18. To review the functioning of the Whistle Blower mechanism;

19. Approval of appointment of CFO (i.e., the Whole-time Finance Director or any other person heading the finance function or discharging that function) after assessing the qualifications, experience and background, etc. of the candidate; and

20. Carrying out any other function as is mentioned in the terms of reference of the Audit Committee by the Companies Act, 2013, listing agreement or by the Board from time to time.

Nomination and Remuneration Committee (earlier known as Remuneration Committee)

The Board of Directors at their meeting held on June 05, 2014 rechristened the erstwhile Remuneration sub-committee of the Board as "Nomination & Remuneration Committee" and also revised the terms of reference in line with the requirements of the Companies Act, 2013 and the Listing Agreement.

The revised terms of reference of the Nomination and Remuneration Committee is set out below:-

a) Formulation of criteria for determining qualifications, positive attributes and independence of a director and recommend to the Board a policy, relating to the remuneration of the directors, key managerial personnel and other employees;

b) Formulation of criteria for evaluation of Independent Directors and the Board including carrying out evaluation of every director's performance

c) Devising a policy on Board diversity;

d) Identifying persons who are qualified to become directors and who may be appointed in senior management in accordance with the criteria laid down and recommend to the Board their appointment and removal; and

e) Such other matters as may be prescribed under the Companies Act, 2013, listing agreement and by the Board of Directors of the Company from time to time.

During the period January 01, 2014 to March 31, 2015, the Committee met on February 27, 2014, June 05, 2014, December 03, 2014 and February 13, 2015. The constitution and number of meetings attended by members of the Committee are given below

Remuneration Policy

The Board of Directors at their meeting held on December 03, 2014 approved "Nomination and Remuneration Policy". The policy includes criteria for appointment of Directors, Key Managerial Personnel and Senior Management.

The policy is available on the website of the Company www.boschindia.com under "Shareholder Information" section and is also enclosed as Annexure 'F' to the Directors' Report.

Details of Remuneration

a. Whole-time Directors

The remuneration payable to the Executive Directors is approved by the shareholders at the general meeting of the Company. Remuneration of Executive Directors consists of a fixed salary and a variable bonus taking into account the economic results and individual performance. The Board of Directors, on the recommendation of Nomination & Remuneration Committee, determines the variable bonus from year to year. It can amount up to 160% of the base salary. In addition, Executive Directors receive benefits such as company owned/ leased house, services of security and garden maintenance, company car and driver, telephone at home, club membership and reimbursement of joining time expenses and similarly on their return.

b. Non Whole-time Directors

Remuneration to Non Whole-time Directors is paid by the way of Commission and Sitting Fee for attending the meetings of the Board / Committee thereof in addition to reimbursement of expenses incurred for attending the aforementioned meetings.

The Board of Directors have revised the Sitting Fee payable to the Directors for attending the meeting of the Board or any Committee thereof with effect from January 01, 2015 as follows

The Commission is based on the profits of the Company, for an amount not exceeding Rs.60,00,000 for all Non Whole-time Directors in respect of any one financial year. Within the overall limit, the Commission is determined for each Director based on attendance at Board / Committee meetings, responsibilities as the Chairman of the Board, Membership / Chairmanship of the Audit Committee and overall responsiblities as a Director.

Directors have no pecuniary relationship with the Company other than their remuneration. None of the Directors are inter-se related to each other.

Director Familiarization Programme

Details relating to familiarization programme for Directors have been mentioned in the Directors' Report.

Performance Evaluation of the Board

Details relating to the manner in which evaluation of the performance of the Board/Individual Directors was carried out is provided in the Directors' Report.

Stakeholders' Relationship Committee (earlier known as Shareholders'/Investors Grievance Committee)

The Board of Directors at their meeting held on June 05, 2014 rechristened the erstwhile "Shareholders'/ Investors Grievance Committee" to "Stakeholders' Relationship Committee" as required under the provisions of Section 178(5) of Companies Act, 2013 and Clause 49 of the Listing Agreement.

The Committee reviews grievances received from the shareholders/investors and action taken thereon.

3 complaints/grievances were received and duly dealt to the satisfaction of the shareholders during the period under review.

There were no complaints/grievances pending as on  March 31, 2015.

Corporate Social Responsibility Committee

The Corporate Social Responsibility (CSR) Committee was constituted at the Board level comprising of Mr. Prasad Chandran as its Chairman and Mr. Bhaskar Bhat, Dr. Steffen Berns and Mr. Soumitra Bhattacharya as its members. The CSR Committee oversees the Company's CSR initiatives

Risk Management Committee

The Board of Directors at their meeting held on December 03, 2014 constituted Risk Management Committee, as required under the Clause 49 of the Listing Agreement, comprising of Mr. Soumitra Bhattacharya - Joint Managing Director as the Chairman and Dr. Steffen Berns - Managing Director and Mr. S. Karthik - Vice President (Corporate Finance, Accounts & Controlling) & Company Secretary as its Members.

The Risk Management Committee is responsible for monitoring and reviewing of risk management plan of the Company and all other incidental matters from time to time as required under Clause 49 of the Listing Agreement.

Share Transfer Committee & Share Transfers System

Mr. Bernhard Steinruecke, Mr. Prasad Chandran, Mr. Bhaskar Bhat and Dr. Steffen Berns constitute the Share Transfer Committee.

Share Transfers in physical form are processed by the Company/its Registrar & Share Transfer Agent and the share certificates are returned within fifteen days from the date of receipt of the transfer by the Company provided that the transfer documents are complete in all respects.

To facilitate prompt services to the shareholders, the Company Secretary is authorized to approve transfer, transmission, consolidation, sub-division of shares and issue of duplicate share certificates not exceeding 500 shares per folio per occasion. These are processed every fortnight subject to receipt of requisite documents complete in all respects.

Prohibition of Insider Trading and Code of Conduct for Directors, etc.

The Board of Directors at their meeting held on May 29, 2015 adopted a "Code of Conduct to regulate, monitor and report trading by Employees and other Connected Persons" and "Code of Fair Disclosure" pursuant to the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015.

CEO/CFO Certificate

A certificate from the Chief Executive Officer (Managing Director) and the Chief Financial Officer (joint Managing Director) dated May 29, 2015 on the financial statements and other matters of the Company for the financial period from January 01, 2014 to March 31, 2015, pursuant to Clause 49 (IX) of the Listing Agreement was placed before the Board at its meeting held on May 29, 2015.

Subsidiary Company

The Company does not have any material non-listed Indian subsidiary. The Company's only subsidiary MICO Trading Private Limited has not commenced its business yet. As the aggregate assets and income of the said subsidiary as on March 31, 2015 is not material, no consolidated financial statements has been prepared. The minutes of the Board meetings of the said subsidiary for each quarter were considered and taken on record by the Board of Directors of the Company at its Board Meetings held every quarter. The Audit Committee of the Company also reviews the Financial Statement of the subsidiary.

Since the Company does not have any material subsidiary, policy regarding material subsidiaries has not been formulated.

Reconciliation of Share Capital

During the period January 01, 2014 to March 31, 2015, an audit was carried out at the end of every quarter by a qualified Practicing Company Secretary for reconciling the total admitted capital with National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL) and the  total issued and listed capital. The audit confirms that the total issued/paid up capital is in agreement with the total number of shares held in physical form and the total number of dematerialized shares held with NSDL and CDSL. The report for every quarter upon reconciliation of capital was submitted to the stock exchanges and was also placed before the Board of Directors at their meetings.

Disclosures

Related Party Transactions

During the period January 01, 2014 to March 31, 2015, there were no material related party transactions conflicting with the interest of the Company at large.

The Company has a policy for Related Party Transactions, which is available on the website of the Company www.boschindia.com <http://www.boschindia.com> under 'Shareholder Information' section.

Penalties & Strictures

No penalties or strictures have been imposed on the Company by the Stock Exchanges or Securities and Exchange Board of India (SEBI) or any other authority on any matter relating to capital market during the period January 01, 2014 to March 31, 2015.

Code of Conduct and Whistle Blower Policy

During the period January 01, 2014 to March 31, 2015, "Code of Conduct for Board Members and Senior Management" (the "Code") and Whistle Blower Policy were revised in terms of the requirements of the Companies Act, 2013 and Clause 49 of the Listing Agreement. The Code and Whistle Blower Policy are available on the website of the Company www.boschindia.com under 'Shareholder Information' section. The Whistle Blower Policy, inter-alia, provides access to the Chairman of the Audit Committee, protection against victimization, affords protection to the directors, employee and associates of Company in the matter of disclosure of any alleged wrongful conduct concerning the affairs of the Company made in good faith and details the procedure for making such protected disclosure. During the period under review, no person was denied access to the Audit Committee.

Mandatory/Non-mandatory requirements

The Company has complied with the requirements relating to Corporate Governance as mandated by the Listing Agreements with BSE Limited and the National Stock Exchange of India Limited. The office of the Chairman and Managing Director is assumed by separate persons.

Internal auditors periodically apprise the Audit Committee on findings/observation of Internal Audit and actions taken thereon.

There are no qualification/adverse remark by the Auditors relating to the Financial Statement of the Company for the period from January 01, 2014 to March 31, 2015.

Communication to Shareholders

Quarterly/half yearly/annual results and information relating to convening of Annual General Meetings and Extraordinary General Meetings are published in leading newspapers (viz., Business Standard in English-all editions and Udayavani / Kannada Prabha in Kannada) and are hosted on the website of the Company viz., www.boschindia.com under 'Shareholder Information' section and also notified to the stock exchanges as required under the Listing Agreement.

The Audited Accounts, Directors' Report, Auditors' Report, Cash Flow Statements, Corporate Governance Report, Business Responsibility Report and Quarterly/Half Yearly Financial Statements can be viewed on the Company's website at www.boschindia.com under the section 'Shareholder Information'.

The Executive Management of the Company participates in the conference call organized post publication of Audited/ Unaudited, Quarterly/ Half Yearly/ Annual Financial Results of the Company. The transcript of the con-call is also hosted on the website of the Company www.boschindia.com under 'Shareholder Information'.

Shareholder Information

A detailed supplement containing information of importance to shareholders is given in this Annual Report.

Place : Bengaluru date : May 29, 2015

Shareholder Information

Annual General Meeting (AGM)

Financial Results

2015 - 10.30 a.m., August 28, 2015 at  'Vivanta' By Taj, Bengaluru - 560001

a. Location and time of last 3 AGMs is given below

2012 : 10.30 a.m., Monday, June 04; 'Vivanta' By Taj, Bengaluru

2013: 10.30 a.m., Wednesday, June 05; 'Vivanta' By Taj, Bengaluru

2014 : 10.30 a.m., Thursday, June 05; 'Vivanta' By Taj, Bengaluru

b. Particulars of Special Resolutions passed in the last three AGMs are given below:

04.06.12: -Nil

05.06.13: Appointment of Mr. V. K. Viswanathan,

Non-Executive Director as a Management Consultant of the Company for a period of Nine Months from 01.01.13 to 30.09.13, pursuant to provisions of Section 309 and 314 of the Companies Act, 1956.

05.06.14: -Nil-

c. Pursuant to the provisions of Section 110 of the Companies Act, 2013 read with Companies (Management & Administration) Rules, 2014 following Special Resolution was approved by

Financial Results

The financial results for the quarter / half-year / year would generally be published as under:

Quarter / half-year / year In the month of

quarter ending June 30 : August

quarter / half-year ending September 30 : November

quarter ending December 31 : February

Year ending March 31 : May

Date of Book Closure

The Company's Register of Members and the Share Transfer Books will remain closed from Saturday, August 22, 2015 to Friday, August 28, 2015 (both days inclusive) for the purpose of payment of dividend.

Dematerialization of Shares

71.18% of the paid-up capital is held by Robert Bosch GmbH. Of the remaining 28.82% held by public, shares representing 27.98% of the paid-up capital has been dematerialized.

The Company has entered into an agreement with the following Depositories whereby the equity shares of the Company were admitted as 'eligible security' in the depository system:

1. National Securities Depository Limited (NSDL): January 05, 1999.

2. Central Depository Services (India) Limited (CDSL): August 04, 2000.

Members still holding physical share certificates are requested to dematerialize their shares by approaching any of the Depository Participants registered with the Securities and Exchange Board of India (SEBI). From June 26, 2000 the shares of the Company are mandated by SEBI for trading in dematerialized form.

NSE has reintroduced the shares of the Company in their F & O segment with effect from November 28, 2014. Shares of the Company have also been included in CNX Nifty with effect from May 29, 2015.

Listing of Shares

The Company's equity shares are listed at the following Stock Exchanges and Listing Fees for the year 2015-16 has been paid to the Stock Exchanges.

BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai 400 001.

Stock code : 500530

National Stock Exchange of India Limited Exchange Plaza, 5th Floor, Bandra-Kurla Complex, Bandra, Mumbai 400 051.

Stock code  : BOSCHLTD

The International Securities Identification Number (ISIN) for the Company's Shares is INE 323A01026.

The Company does not have any outstanding ADRs/ GDRs/warrants or any convertible instruments.

Particulars of dividend remaining unclaimed

In terms of Section 205A(5) of The Companies Act, 1956, amounts transferred to the Unpaid Dividend Account of the Company, which remain unpaid or unclaimed for a period of seven years from the date of such transfer, shall be transferred by the Company to the Investor Education and Protection Fund (the Fund) established by the Central Government.

Particulars of the unclaimed dividend pertaining to the years 2006 to 2012 as on the date of last AGM (June 05, 2014) was hosted on Company's website www.boschindia.com under the section 'Shareholder Information'

Members can claim the unpaid dividend from the Company before transfer to the Investor Education and Protection Fund. As per the prevailing statutory provisions, the unpaid dividend once transferred to the said Fund cannot be claimed.

Bank particulars for Dividend Warrants

With a view to prevent fraudulent encashment of dividend warrants, members holding shares in physical form are advised to furnish to the Company/ RTA particulars of their bank account with a request to incorporate the same in the dividend warrant.

Electronic Clearing Service

The Company makes payment of dividend through Electronic Clearing Service (ECS)/National Electronic Clearing Service (NECS) to members. Under this system of payment of dividend, the shareholders get the credit of dividend directly in their designated bank account. This ensures direct and immediate credit with no chance of loss of warrant in transit or its fraudulent encashment. However, the Company may pay the dividend by issue of warrants where no ECS/NECS particulars made available to the Company. SEBI Vide Circular No. CIR/MRD/DP/10/2013 dated 21.03.2013 advised all listed companies to update bank details of their shareholders holding shares in demat mode and/or physical form, to enable usage of the electronic mode of remittance for distributing dividends and other cash benefits to the shareholders.

The circular further states that in cases where either the bank details such as MICR, IFSC, etc. that are required for making electronic payment are not available or the electronic payment instructions have failed or have been rejected by the bank, Company/ RTA may use physical payment instruments for making cash payments to the Investors. Companies will have to mandatorily print the bank account details of the investors on such payment instruments.

We request the members to opt for electronic modes of payments. Members holding shares in electronic form are requested to approach the DP for updating the bank details. Members holding Shares in physical form, who wish to avail of the ECS/NECS facility, are requested to give the ECS/NECS mandate in the prescribed form. The form can be obtained from the Company's website www.boschindia.com under the Section 'Shareholder Information'.

Payment of Dividend

Dividend warrants are posted to Members at their registered address usually within two working days of the declaration of dividend at the Annual General Meeting.

The dividend for the period ended March 31, 2015, if approved at the AGM will be paid on or about 01.09.2015. Dividend warrants in respect of shares held in electronic/dematerialized form are posted to the beneficial owners to their address as per the information furnished by NSDL and CDSL as on the record date.

Requirement of PAN

The Securities and Exchange Board of India (SEBI) vide circular ref. no. MRD/DoP/Cir-05/2009 dated May 20, 2009, clarified that for securities market transactions and off-market/private transactions involving transfer of shares in physical form of listed companies, it is mandatory for the transferee(s) to furnish copy of PAN card to the Company / RTA for registration of such transfer of shares.

Further, SEBI vide circular ref.no. MRD/DoP/SE/ RTA/ Cir-03/2010 dated January 07, 2010, clarified that for deletion of name of the deceased shareholder(s), transmission of shares to the legal heir(s) and for transposition of shares, it shall be mandatory to furnish a copy of PAN card to the Company/RTA.

Nomination

Pursuant to the provisions of Section 72 of the Companies Act, 2013, and Rule 19(1) of the Companies (Share Capital and Debentures) Rules 2014, Members may file Nomination in respect of their shareholdings. Members holding shares in Physical Form willing to avail this facility may submit to the Company the prescribed Form SH-13 and any change or variation in the nomination in prescribed Form SH-14. Form SH-13 and SH-14 can be downloaded from the Company's website www.boschindia.com under the section 'Shareholder Information'. Members holding shares in electronic form are requested to give the nomination to their respective Depository Participants directly.

Rights of members

The following are some of the important rights of the members:

1. Receive notices of General Meetings, Annual Report etc.

2. Attend and vote at the General Meetings and appoint proxy in their stead.

3. Demand for a poll along with other members who collectively hold not less than 1/10th of the voting power or who collectively hold 50,000 shares (i.e., shares on which aggregate sum of not less than Rs.500,000 has been paid up).

4. Request an Extraordinary General Meeting along with other members who collectively hold not less than 1/10th of the total paid up share capital of the Company carrying voting rights.

5. Receive dividends and other corporate benefits like rights, bonus shares etc., when declared / announced.

6. Transfer the shares.

7. Inspect minutes book of General Meetings.

8. Inspect various registers such as Register of Members, Register of Directors etc.

9. Nominate a person to whom his/her shares shall vest in the event of death.

10. Seek relief in case of oppression and mismanagement in the manner given under the Companies Act, 1956 / Companies Act, 2013.

11. Seek relief in case the affairs of the company are managed in a manner prejudicial to the interest of the company or its members by virtue of a Class Action Suit under Section 245 (yet to be notified).

Audited Annual Financial Results

The statement of Audited Financial Results and the statement of segment-wise revenue, results and capital employed for the period ended March 31, 2015 prepared pursuant to Clause 41 of the Listing Agreements entered into with the Stock Exchanges are available in the Company's website www.boschindia.com. The statement was approved by the Board of Directors at their meeting held on May 29, 2015.

Website

The Company's website www.boschindia.com  contains information about the Company, Products, Services and Solutions, Press Releases and Shareholder Information. The 'Shareholder Information' section serves to inform the Shareholders by providing key information like Board of Directors, Committees of the Board, Financial Results, Shareholding Pattern, details of unpaid / unclaimed dividend etc.

Registrar and Transfer Agent

(For shares held in physical & dematerialized form)

Integrated Enterprises (India) Limited. No.30, Ramana Residency, 4th Cross, Sampige Road, Malleswaram, Bengaluru - 560 003 Tel: (080) 23460815 to 818; Fax: (080) 23460819 E-mail: irg@integratedindia.in

Investor Service Centre

Secretarial Department (BCS) Bosch Limited Hosur Road, Adugodi Bengaluru - 560 030 Tel: (080) 2299 2393 (Extn. 2315/2310); Monday to Friday: 9.30 a.m. to 5.00 p.m. (except holidays)

Designated e-mail ID for redressal of investor complaints

investor@in.bosch.com

Compliance Officer

Mr. S. Karthik, Company Secretary

Section A: General Information about the Company

1. Corporate Identity Number (CIN): L85110KA1951PLC000761

2. Name of the Company: Bosch Limited

3. Registered office address: P.B.No.3000, Hosur Road, Adugodi, Bengaluru - 560 030

4. Website: www.boschindia.com

5. E-mail ID: rbin.corporate@in.bosch.com

6. Financial Year reported:

January 01, 2014 to March 31, 2015

7. Sector(s) that the Company is engaged in (industrial activity code-wise): Automotive Component and Accessories

8. List three key products/services that the Company manufactures/provides (as in balance sheet)

i) Fuel Injection Equipment & Components (ITC code: 84.08 & 84.09)

ii) Auto Electrical Items (ITC code: 85.11)

iii) Portable Electric Power Tools (ITC code: 85.08)

9. Total number of locations where business activity is undertaken by the Company

i) International Location: -Nil-

ii) National Locations: 10 Plant and 23 Sales Offices at different location across India.

Section C: Other Details

1. Does the Company have any Subsidiary Company/ CompaniesRs.

Yes, the Company has a subsidiary viz., MICO Trading Private Limited having its registered office at P.B. No. 3000, Hosur Road, Adugodi, Bengaluru - 560 030.

2. Does the Subsidiary Company / Companies participate in the BR Initiatives of the Parent CompanyRs. If yes, then indicate the number of such subsidiary company(s).

The said subsidiary has not commenced business. Hence, there is no participation by the said subsidiary in business responsibility initiatives.

3. Do any other entity/entities (e.g. suppliers, distributors etc.) that the Company does business with, participate in the BR initiatives of the Company Rs. If yes, then indicate the percentage of such entity/ entities Rs. [Less than 30%, 30-60%, More than 60%]

The Company encourages its suppliers, dealers and other stakeholders to support various initiatives taken by the Company towards its business responsibility.

Section D: BR Information

1. Details of the Director/Directors responsible for implementation of the BR policy/policies:

Director Identification n„,00,,.„ Number (DIN) : 02783243

Name : Mr. Soumitra Bhattacharya

Designation : Joint Managing Director