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c) Details of Shareholders holding more than 5% of equity shares:
No. Name of the Shareholder
As at
March 31, 2018
As at
March 31, 2017
Holding % Number of
Shares
Holding % Number of
Shares
1 Aagam Holdings Pvt Ltd
22.41% 66,50,000
22.41% 66,50,000
2 Aeon Investments Pvt Ltd
6.94% 20,60,817
6.79% 20,14,383
(
`
cr)
Note 14 Other equity
As at
March 31, 2018
As at
March 31, 2017
a) Securities premium reserve
34.66
34.66
b) General reserve
95.80
95.80
c) Retained earnings
Balance as at the beginning of the year
1,397.04
1,145.10
Add: Profit for the year
270.41
285.30
Add: Remeasurement gain | (loss) on defined benefit plans
1.78
1.62
Add: Transfer from OCI on disposal of FVOCI equity instruments
1.54
0.73
Less: Dividend on equity shares for the year {2016-17:
`
10 per share, (2015-16:
`
10 per share)}
(29.66)
(29.66)
Less: Dividend distribution tax on dividend
(3.63)
(6.05)
Balance as at the end of the year
1,637.48
1,397.04
d) Other reserves
i) FVOCI equity instruments
Balance as at the beginning of the year
364.11
287.50
Add: Equity instruments through Other Comprehensive Income (FVOCI)
37.32
77.34
Less: Transfer to retained earnings on disposal of FVOCI equity instruments
(1.54)
(0.73)
Balance as at the end of the year
399.89
364.11
ii) Effective portion of cash flow hedges
Balance as at the beginning of the year
(0.47)
(0.59)
Add: Effective portion of gain | (loss) on cash flow hedges
0.05
(0.72)
Add: Deferred tax liability
(0.02)
0.25
Less: Hedging gain | (loss) reclassified to Statement of Profit and Loss
0.47
0.59
Balance as at the end of the year
0.03
(0.47)
2,167.86
1,891.14
Nature and purpose of other reserves
a) Securities premium reserve
Securities premium is used to record the premium on issue of shares. The reserve is utilised in accordance with the
provisions of the Companies Act, 2013.
b) FVOCI - 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 FVOCI equity instruments reserve within equity. The
Company transfers amounts from this reserve to retained earnings when the relevant equity securities are de-recognised.
c) Cash flow hedging 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.
Notes
to the Financial Statements