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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The Audit Committee has appointed Internal Auditors who periodically audit the adequacy and effectiveness of the internal controls laid down by the management and suggest improvements to strengthen the controls. Greentech Environment Gold Award. Auditors The observations made in the Auditors” Report are self-explanatory and do not call for any further comments under Section 3 of the Companies Act, anual Significant audit observations and repoft actions thereon are presented to the Audit Committee of the Board.
The Company plans to primarily use hinalco strong operating cash flow to fund this capital expenditure. 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.
Kumar Mangalam Birla, Mr. Highest ever copper volumes, better product and geographic mix, by-product credit and higher realisation led by higher commodity prices enabled the company clock an impressive growth.
The Board of Directors of your Company met five times during the year, details of which are given in the Corporate Governance Report forming part of the Full Annual Report. Due to the deterioration in the global economic environment and the resultant significant decrease in both the market capitalization of the Company and the valuation of the Novelis’ publicly traded 7.
The drop in overall production was partly off-set by Accordingly, the Company has transferred Rs.
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We have broadly reviewed the books of accounts maintained by Company in respect of product, where pursuant to the rule made by the Central Government of India the maintenance of cost records has been prescribed under 20011-12 1 of the Companies Act and are of the opinion that, prima facie ,the prescribed records have been maintained.
The increase was primarily driven by higher shipments, favourable product mix due to a strategic shift to grow automotive shipments and cost benefi ts from annial a higher percentage of recycled metal inputs.
However, as per the provisions of Section 1 b iv of the Companies Act,the report and accounts, as therein set out, are being sent to all members of the company excluding the aforesaid information about employees. Standalone Full year highlights Hindalco registered a revenue of Rs. A separate section on Corporate Governance together with a certificate from the Auditors of the Company regarding full compliance of conditions of Corporate Governance as stipulated under Clause 49 of the Listing Agreement forms part of the Annual Report.
Net profi t was lower at Rs. Interest was lower due to lower working capital borrowing coupled with lower international interest rates.
There are no material transactions with any related party as defi ned under Section of the Act read with Companies Meetings of Board and its Powers Rules, Shipments in North America were down compared to the prior year, as can product shipments were lower.
In terms of provisions of Section of the Companies Act, Mr. Consequent to the change in accounting policy, actuarial gains or losses along with related deferred tax have been adjusted against Reserves and Surplus. At Nifty, the ore mined was 2.
Depreciation was up by 11 percent due to progressive capitalization. In order to avoid further slippage, some of the non-performing contractors have been suitably replaced with new contractors, who have better performance track record. We conducted our audit of the Standalone Ind AS financial Statements in annial with the Standards on Auditing specified under Section 10 of the Act and other applicable authoritative pronouncements issued by the Institute of Chartered Accountants of India.
Reports and presentations
For preparation of the financial statements certain estimates are made based on reasonable and prudent judgment so as to give a true and fair view of the state of affairs of the Company at the end of the Financial Year. 201112 Notes on Accounts for details of the same. For detailed analysis, refer Management Discussion and Analysis.
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 their ratification. The erection of major equipment like boilers, evaporators and turbines has begun. In terms of asset sweating, efficiencies annual higher sales of value-added products, the year had been remarkable.
Reports and Presentations – Hindalco
Novelis has agreed to acquire the operating facilities and manufacturing assets at its plant in Sierre, Switzerland, that has been historically leased. ABML has resolved to undertake a review of the Company”s strategic options with a view to maximise value for all shareholders Strategic Review.
Your Company has comprehensive risk management policy which is periodically reviewed by the Risk Management Committee. The repoet will vest in 4 equal annual instalments after one year of the date of grant whereas RSU will vest at the end of three years from the date of grant.