Corporate Overview Statutory Reports Financial Statements 143 No. Name of the promoter As at March 31, 2024 As at March 31, 2023 Number of shares % of total shares % change during the year Number of shares % of total shares % change during the year 22. Nishtha Sunilbhai Lalbhai 5,500 0.02% - 5,500 0.02% - 23. Sanjaybhai Shrenikbhai Lalbhai (On behalf of Arvindbhai Lalbhai Family Trust ) 3,653 0.01% - 3,653 0.01% - 24. Sunil Siddharth Lalbhai (On behalf of Vimla Siddharth Family Trust ) 2,724 0.01% - 2,724 0.01% 154.58% 25. Swati Siddharth Lalbhai (On behalf of Sunil Lalbhai Employees Trust 1) 2,000 0.01% - 2,000 0.01% - 26. Lalbhai Dalpatbhai HUF 1,169 0.00% - 1,169 0.01% - 27. Sheth Narottambhai Lalbhai 495 0.00% - 495 0.00% - *Includes 5,437 shares held on behalf of Manini Niranjan Trust in capacity of a Trustee as at March 31, 2024 (March 31, 2023: Hansa Niranjanbhai was a Trustee). **Includes 35,620 shares held on behalf of Siddharth Family Trust in capacity of a Trustee as at March 31, 2023. (` cr) Note 14 Other equity As at March 31, 2024 As at March 31, 2023 Summary of other equity balance a) Retained earnings 4,355.80 4,106.65 b) Capital redemption reserve 0.22 0.15 c) Other reserves i) FVTOCI equity instruments 704.16 453.73 ii) Effective portion of cash flow hedges (0.24) (0.69) 5,059.94 4,559.84 Refer Standalone Statement of changes in equity for detailed movement in other equity balance. Nature and purpose of reserves a) Retained earnings Retained earnings are the profits that the Company has earned till date, less, any transfers to general reserve, any transfers from or to other comprehensive income, dividends or other distributions paid to shareholders. b) Capital redemption reserve In accordance with Section 69 of the Companies Act, 2013, the Company has created capital redemption reserve equal to the nominal value of the shares bought back as an appropriation from the general reserve. c) FVTOCI equity instruments The Company has elected to recognise changes in the fair value of certain investments in equity securities in other comprehensive income. These changes are accumulated within the FVTOCI equity instruments reserve within equity. The Company transfers amounts from this reserve to retained earnings when the relevant equity securities are derecognised. d) Cash flow hedge reserve The Company uses hedging instruments as part of its management of foreign currency risk associated with its highly probable forecast sale and inventory purchases and interest rate risk associated with variable interest rate borrowings. For hedging foreign currency risk, the Company uses foreign currency forward contracts, foreign currency option contracts and interest rate swaps. They are designated as cash flow hedges to the extent these hedges are effective, the change in fair value of the hedging instrument is recognised in the cash flow hedging reserve. Amounts recognised in the cash flow hedging reserve is reclassified to profit or loss when the hedged item affects profit or loss (for example, sales and interest payments). When the forecast transaction results in the recognition of a non-financial asset (for example, inventory), the amount recognised in the cash flow hedging reserve is adjusted against the carrying amount of the non-financial asset.
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