Bira Unlisted Shares

Annual Report Summary

B9 Beverages Private Limited's standalone financial statements for the period of 01/04/2020 to 31/03/2021 details general company information, principal products and services, the director's report, and financial results. All monetary values are in Millions of INR unless otherwise specified.

General Company Information:

• The company is B9 Beverages Private Limited with corporate identity number U80903DL2012PTC236595 and permanent account number AAECD6739Q.
• The registered office is located at Premise No. 106, Second Floor Block H, Connaught Circus New Delhi.
• The company operates in the commercial and industrial sector.
• The company is not listed.
• Final accounts were approved on 28/09/2021, covering a 12-month period from 01/04/2020 to 31/03/2021.
• The presentation currency is INR. The level of rounding used is millions. An indirect method cash flow statement is employed.
• The company maintains books of account and other relevant books and papers in electronic form at Premise No. 106, Second Floor Block H, Connaught Circus New Delhi.
• The country code for the place of maintenance of computer servers is 91, and the country is India. The phone number is 9999119592. The books are not maintained on the cloud.

Principal Products or Services:

• The company's principal product or service is in the "Beverages and Non-Alcoholic Beverages" category (ITC 4-digit code 2206).
• The turnover of this category is 4,282.08.
• The highest turnover contributing product or service is specified as "OTHR FERMNTD BEVRGS" (ITC 8-digit code 22060000).

Director's Report:

• The directors are presenting their ninth report on the business and operations of the company, including audited financial statements, for the year ended 31st March 2021.
• Standalone revenue from operations was 4,282.08 in 2021 vs 4,571.86 in 2020. Other income was 346.15 in 2021 vs 90.03 in 2020. Total revenue was 4,628.23 in 2021 vs 4,661.89 in 2020. Expenses were 5,236.64 in 2021 vs 6,132.61 in 2020.
• The EBITDA (before exceptional items) of the company for the fiscal year 2020-2021 was? (3617.37) million as compared to? (3599.38) million for the fiscal year 2019-2020.
• Loss for the year has been decreased to ? (2112.89)million in fiscal year 2020-2021as compared to the Loss of? (3048.91) million for the fiscal year 2019-2020.
• The consolidated total revenue from operations was 4,307.64 for fiscal year 2020-2021 as against 4,787.51for the fiscal year 2019-2020. The EBITDA (before exceptional items) was ?(2515.13) million as compared to the ? (3174.68) million for the fiscal year 2019-20. Loss for the fiscal year 2020-2021 is?(2515.13) million as compared to the Loss of? (3178.92)millionfor the fiscal year 2019-2020.
• The company expanded its sales operations and makes its presence felt in Jharkhand, Assam and Meghalaya along with existing states i.e., Delhi, Haryana, Chandigarh, Uttar Pradesh, Rajasthan, Madhya Pradesh, Chhattisgarh, West Bengal, Telangana, Maharashtra, Goa, Andhra Pradesh, Karnataka, Puducherry, Kerala, Daman and Silvassa in 2020-2021 and planning to add few more in coming years.
• Bira continued to grow consumer loyalty and maintained its position in the premium beer market.
• The company is focused on quality and becoming the beer of choice, driving the global shift towards more color and flavor in a sustainable manner.
• The board of directors has made efforts towards organizational development and strengthening functions.
• There have been increases to the company's authorized share capital, and to the paid-up share capital.
• The company had 39 board meetings.
• The annual report for 2019-2020 was held on Friday, 19th February 2021. Extra-Ordinary General Meetings were held and several resolutions were passed, including approving issuances of Pre-Series C CCCPS and Equity Shares, and change to object clause of MOA.
• There were no loans, guarantees or investments made under Section 186 of the Companies Act, 2013 to subsidiaries.
• Material changes include a USD 30 Million investment from Kirin Holdings, and raising of Series C1 CCCPS, Pre-Series D, and D1 rounds.
• The company has not developed and implemented any Corporate Social Responsibility initiatives.
• Directors express their inability to recommend any dividend for the year ended March 31, 2021.
• No significant and material orders were passed by the regulators or courts or tribunals which affect the going concern status and future operation of the Company.
• Walker Chandiok & Co LLP has been appointed as the statutory auditors of the Company in place of the retiring auditors till the conclusion of AGM 2020-21.
• The company has appointed RMG & Associates, Company Secretaries as Secretarial auditors of the Company to conduct the first audit for the period ending March 31,2021. The report for the same have been taken on record.
• The company supports rights of employees to work in an environment free from harassment, and has constituted an Internal Committee to address concerns of sexual harassment.

Conservation of Energy, Technology Absorption, and Foreign Exchange:

• Steps taken to conserve energy include switching to LED lights, designing offices for maximum natural light utilization, integrating staff for optimum space utilization, and formulating a plan to plant more than 200 trees.
• No efforts made towards technology absorption, and no technology was imported.
• Foreign exchange earnings were 6,16,72,778. Outgo was 11,73,22,126.

Risk Management, Internal Control and Responsibilities:

• The Company has laid down a risk management mechanism covering the risk mapping and trend analysis, risk exposure, potential impact and risk mitigation process.
• The company has adopted policies and procedures for ensuring the orderly and efficient conduct of its business.
• There are systems and processes in the Company to monitor and ensure compliance with applicable Environmental Laws, Labour laws and other General Laws, however the same needs to be strengthen.
• Directors have confirmed that the applicable accounting standards have been followed, there was proper and sufficient care for the maintenance of adequate accounting records.

Financial Details and Ratios:

• The current ratio is specified as 15.
• There are no material events that may affect the continuation of the company.
• The extract of the Annual Return, in Form MGT-9 for the F.Y. 2020-21, has been enclosed as Annexurewith this report.
• The paid-up share capital of the company is 86,51,55,185/-

Additional Points:

• It's noted that Bira continues to grow consumer loyalty and has India's largest dispense beer network, supported by a management team with strong industry experience.
• The company's steps towards sustainability include a global presence and maintenance of premium beer quality.
• Some specific observations were made regarding the filing of necessary documents with authorities, hosting the Whistle Blower Policy on the website, and certain aspects of allotment procedures.
• Walker Chandiok & Co LLP, Chartered Accountants, have issued an unmodified opinion on the standalone financial statements.
• The Standalone financial statements have been prepared in accordance with applicable accounting standards and give a true and fair view of the Company's financial position.
• There exists a material uncertainty related to the Company's ability to elicit good business due to the Covid19 pandemic.