Ambadi Investments Limited (murugappa) Shares Annual Reports

Ambadi Investments Limited (murugappa) Shares

Ambadi Investments Limited is primarily an investment company holding investments in group companies and is registered as a Non-Deposit taking Systemically Important Core Investment Company (CIC). The 83rd Annual Report includes the audited financial statements for the fiscal year ending March 31, 2024. **Financial Performance** AIL earns revenue primarily through dividend income from group company investments. The company reported a standalone income of ₹115.05 Crore for the year ended March 31, 2024, compared to ₹94.09 Crore in the previous year. The Board approved four tranches of interim dividends aggregating to ₹230 per equity share of face value ₹10 each. The company transferred ₹19 Crore to Special Reserve as required under section 45-IC of the Reserve Bank of India Act, 1934. Total equity investments stood at ₹48,444.45 Crore. Key investments include Tube Investments of India Limited, Cholamandalam Financial Holdings Limited, Carborundum Universal Limited, and E.I.D. - Parry (India) Limited. **Subsidiaries and Associates Performance** The company has two subsidiaries and seven associate companies, with no change in their business nature during the year. Parry Agro Industries Limited (PAIL) faced a consolidated loss before tax, while Parry Enterprises India Limited (PEIL) showed a profit. Tube Investments of India Limited (TII) achieved consistent growth with subsidiaries like Shanthi Gears Limited and CG Power. Carborundum Universal Limited (CUMI) reported consolidated sales growth and Cholamandalam Financial Holdings Limited (CFHL) and E.I.D-Parry (India) Limited (EID) also showed significant financials. Kartik Investments Trust Limited (KITL) reported a loss. Chola Insurance Distribution Services Private Limited (CIDSPL) reported profit before tax of 0.63 Crore. Cholamandalam Investment and Finance Company Limited (CIFCL) increased its Total Income to 19,419.87 Crore. **Corporate Governance and Directors** The Board of Directors consists of eight members, including promoter and non-executive directors, as well as non-executive independent directors. Mr. MA Alagappan is the Chairman of the Board. The shareholders at the 80th AGM approved the re-appointment of Mr. P Nagarajan and Mr. P R Ravi as independent directors for a second term of 3 years. Based on the recommendation of the Nomination and Remuneration Committee, the Board recommends the appointment of Mr. L Ramkumar and Mr. K Balasubramanian as Independent Directors for a term of three consecutive years each with effect from September 10, 2024. The Board recommends the re-appointment of Mr. M M Murugappan and Mr. Vellayan Subbiah as directors liable to retire by rotation. M/s. Brahmayya & Co. will be ineligible to continue as statutory auditors from FY 24-25. The Board recommends the appointment of M/s. K S Rao & Co. as statutory auditors for a term of three continuous years with effect from the conclusion of the ensuing 83rd AGM. **Risk Management, CSR, and Other Information** Risk management is a process to identify and manage threats. Key risk exposures of the Company along with risk mitigation measures are provided. The Company does not have CSR obligations for FY 24. Dividends upto second interim dividend for FY 2016-17 has been transferred to the IEPF. Two promoter shareholders had filed application before the National Company Law Tribunal which were withdrawn during the year. The Company is compliant with applicable laws, rules, circulars and regulations, including RBI Master Directions. **Financial Statement Highlights** Key financial statement details are provided, including the Standalone Balance Sheet, Statement of Profit and Loss, and Statement of Changes in Equity as of March 31, 2024. Also included are the Independent Auditor's Report, and various annexures related to corporate governance and financial information. This includes information about share capital, reserves, investments, related party transactions, and other disclosures as per accounting standards and regulatory requirements.

Ambadi Investments Limited (murugappa) Shares

Ambadi Investments Limited's (AIL) annual report for 2022-23 provides a comprehensive overview of the company's performance, governance, and financial standing. AIL, a Non-Deposit taking Systemically Important Core Investment Company (CIC), primarily functions as an investment company within the Murugappa Group, holding investments in subsidiaries and other group companies. **Corporate Information:** Key personnel include M A Alagappan as Chairman, and other directors such as A Vellayan, M M Murugappan, and Vellayan Subbiah. The registered office is located in Chennai. M/s. Brahmayya & Co. serves as the auditor. **Board's Report:** AIL's standalone financial performance shows a total income of ₹94.09 Crore and a profit after tax of ₹79.72 Crore for FY 2022-23, compared to ₹130.08 Crore and ₹102.51 Crore respectively in the previous year. This lower profitability is attributed to decreased dividend income from investee companies. The Board approved three tranches of interim dividends totaling ₹195 per share. The Board did not recommend a final dividend for the year. ₹16.00 Crore was transferred to the Special Reserve. The Company's share capital remains at ₹2.44 Crore. AIL's consolidated financial results reflect a total income of ₹417.83 Crore, and a profit for the year of ₹1,409.60 Crore. Earnings per share are ₹5,771.74. **Subsidiaries and Associates:** AIL has two subsidiaries: Parry Agro Industries Limited and Parry Enterprises India Limited, and seven associate companies, including Tube Investments of India Limited and Cholamandalam Investment and Finance Company Limited. There have been no changes in the nature of the business for these entities during the year. The report includes Annexure I, containing salient features of the financial statements of subsidiaries/associate companies. **Corporate Governance and Compliance:** A report on corporate governance, compliant with RBI Master Directions, is included as Annexure III. Four Board meetings were held during the year. The company has six committees: Audit Committee, Nomination and Remuneration Committee, Risk Management Committee, Asset Liability Management Committee, Group Risk Management Committee, and Share Transfer Committee. IDs, Mr. P Nagarajan and Mr. P R Ravi, confirmed they meet independence criteria. M/s. Brahmayya & Co. have been re-appointed as statutory auditors for a second term. The Board has established a Risk Management Committee to monitor and implement risk management plans, and has framed a CSR policy but has no CSR obligations for FY 23. **Other Key Points:** * The company has not accepted public deposits. * There was a foreign exchange outgo of ₹0.65 Crore for dividend repatriation. * Two shareholders have filed an application before the National Company Law Tribunal. * The directors confirm compliance with applicable laws and the reliability of financial statements. **Management Discussion and Analysis (Annexure II):** The report also provides a detailed Management Discussion and Analysis (Annexure II) which discusses the global and Indian macroeconomic environment. It emphasizes the Indian economy's resilience and projected growth supported by government initiatives and robust domestic demand. The report acknowledges potential downside risks like geopolitical conditions and global inflation. The report provides a table that summarizes Standalone Financial Results with Strategic Investments equalling a cost of 920.25 crore. **Form AOC-1 (Annexure 1):** A statement containing salient features of the financial statements of subsidiaries/associate companies/joint ventures. **Directors' Responsibility Statement:** The board acknowledges responsibility for the financial reporting. In closing, the annual report presents a comprehensive overview of Ambadi Investments Limited's activities, financial performance, and governance structure for the fiscal year 2022-23, highlighting both successes and areas requiring attention.