REPORT OF THE DIRECTORS
Your Directors have pleasure in presenting the Annual Report of your Company and the
audited accounts for the year ended March 31, 2009.
At the outset, your Directors are glad to report that the Scheme of Amalgamation of
Shaw Wallace & Company Limited and Primo Distributors Private Limited with the Company
("the Scheme") has been sanctioned by the Hon'ble High Courts of Karnataka,
Bombay and Calcutta and the Scheme has become effective on July 6, 2009. The Amalgamation
takes effect from April 1, 2007, being the Appointed Date.
Your Directors are also glad to report that the Scheme of Amalgamation of Zelinka
Limited with the Company with the Appointed Date of April 1, 2007 became operative from
March 26, 2009 pursuant to a Scheme of Amalgamation sanctioned by the Hon'ble High Court
of Karnataka at Bangalore and compliance of the procedure required to be followed by
Zelinka Limited under the local laws of Cyprus.
Accordingly, the financial results for the year ended March 31, 2009 also include those
relating to the amalgamating Companies.
FINANCIAL RESULTS
|
Rupees in Millions |
|
2008-09 |
2007-08 |
| The working of your Company for the year under review resulted in |
|
|
| • Profit from operations |
4,953.169 |
5,175.774 |
| Less: |
|
|
| • Depreciation |
361.565 |
326.112 |
| • Taxation (including deferred tax) |
1,624.980 |
1,736.903 |
| • Profit after tax |
2,966.624 |
3,112.759 |
| Profit B/F from previous year |
7,018.342 |
4,411.221 |
| Profit transferred on Amalgamation |
103.983 |
- |
| Profit available for appropriation |
10,088.949 |
7,523.980 |
| Your Directors have made the following appropriations: |
|
|
| To General Reserve |
350.000 |
250.000 |
| To Capital Redemption Reserve |
- |
77.500 |
| Proposed Dividend: |
|
|
| Preference Shares |
- |
1.930 |
| Equity Shares |
215.825 |
150.331 |
| Corporate Tax on Proposed |
|
|
| Dividend |
36.679 |
25.877 |
| Balance carried to the Balance Sheet |
9,486.445 |
7,018.342 |
| EPS - Basic - Rupees |
27.49 |
31.84 |
| EPS - Diluted - Rupees |
27.49 |
31.40 |
Your Directors propose a Dividend on the equity shares of the Company at the rate of
Rs.2/- per share, including on 7,749,121 equity shares of Rs.10/- each fully paid-up
allotted to the shareholders of Shaw Wallace & Company Limited pursuant to the Scheme
of Amalgamation sanctioned by the Hon'ble High Courts of Karnataka, Bombay and Calcutta.
CAPITAL
In terms of the Scheme of Amalgamation ("the Scheme") sanctioned by the
Hon'ble High Courts of Karnataka, Bombay and Calcutta, the Authorised Capital of Shaw
Wallace & Company Limited and Primo Distributors Private Limited, the Transferor
Companies stood combined with that of your Company. Consequently, the Authorised Capital
of the Company stands increased from Rs.1,200,000,000/- divided into 110,000,000 equity
shares of Rs.10/- each and 10,000,000 Preference Shares of Rs. 10/- each to
Rs.3,292,000,000/- divided into 245,000,000 Equity Shares of Rs.10/- each and 84,200,000
Preference Shares of Rs.10/- each.
In terms of the Scheme, 7,749,121 Equity shares of Rs.10/-each, fully paid-up were
issued and allotted on July 24, 2009 to the shareholders of Shaw Wallace & Company
Limited in the ratio specified in the Scheme. Consequently, the Issued, Subscribed and
Paid-up Equity Share Capital of the Company stood increased from Rs.1,001,632,560/-
divided into 100,163,256 equity shares of Rs.10/-each to Rs.1,079,123,770/-divided into
107,912,377 equity shares of Rs.10/- each.
PERFORMANCE OF THE COMPANY
The Company has been able to record a 20% growth in volumes during the year with some
key brands, such as, Signature Whisky recording a growth of 27% to enter the Millionaires
Club. The umbrella McDowell's brand continues its buoyant growth and has earned the
distinction of being India's largest consumer brand calculated by retail value of sales.
With over 50% of India's 1.2 billion population not having yet achieved legal drinking
age, the industry is currently witnessing a demographic window of opportunity with large
number of first time consumers entering the market.
The year however, witnessed a steep rise in input costs. Reduced sugarcane output and a
political stand off between State Governments and sugarcane farmers in key producing
states during the crushing season, resulted in unprecedented spike in input costs. Despite
an impact of over Rs.3.5 billion on account of higher input prices during the year, the
Company managed to show only a marginal reduction in profits for the year which stood at
Rs.2.97 billion as against Rs 3.11 billion in the previous year.
AMALGAMATION
Amalgamation of Shaw Wallace & Company Limited and Primo Distributors Private
Limited with the Company
In terms of the Scheme of Amalgamation of Shaw Wallace & Company Limited (SWCL) and
Primo Distributors Private Limited (Primo) with the Company ("the Scheme")
sanctioned by the Hon'ble High Courts of Karnataka, Bombay and Calcutta, which became
effective on July 6, 2009, with Appointed Date as April 1, 2007:
• SWCL and Primo, both subsidiaries of the Company were amalgamated with the
Company and the entire business and whole of the undertaking of the said transferor
companies stood transferred to and vested in the Company;
• The shareholders of erstwhile SWCL were issued and allotted in aggregate
7,749,121 Equity Shares of Rs.10/-each fully paid-up in the Company in the ratio of 4
equity shares of Rs.10/- each fully paid-up in the Company for every 17 equity shares of
Rs.10/- each fully paid-up in SWCL;
• 15,072,311 equity shares of Rs.10/- each representing, 31.40% of the paid-up
capital of SWCL held by the Company stood cancelled upon the Scheme becoming effective;
• The Equity Shares held by the Company in Primo were cancelled without any
exchange of shares in the Company, as its entire paid-up share capital was held by the
Company
• Consequent to the Scheme becoming effective, Primo stood dissolved without
winding up. SWCL will be dissolved without winding up under a separate Order of the
Hon'ble High Court at Calcutta.
In terms of the Scheme, a Trust in the name of Primo Benefit Trust and a Trust in the
name of SWC Benefit Trust were created for transfer of 1,306,431 Equity shares held by
Primo and 10,282,553 equity shares held by SWCL in the Company to the aforesaid Trusts
respectively. Upon the Scheme becoming effective, the beneficial interest in SWC Benefit
Trust and Primo Benefit Trust stands transferred and vested in the USL Benefit Trust,
whose beneficiary is the Company. Subsequent to the year end, SWCL has sold 10,282,553
Equity Shares held by it in the Company in the open market, through the stock exchanges
and 1,306,431 equity shares held by Primo in the Company has been transferred to Primo
Benefit Trust. Upon the Scheme becoming effective, the shares held by Primo Benefit Trust
stood transferred to and vest with USL Benefit Trust.
Amalgamation of Zelinka Limited with the Company:
In terms of the Scheme of Amalgamation of Zelinka Limited with United Spirits Limited
as sanctioned by the Hon'ble High Court of Karnataka at Bangalore and subsequent
compliance of the procedure required to be followed by Zelinka Limited under the local
laws of Cyprus, which became operative on March 26, 2009, with Appointed Date as April 1,
2007:
• the entire undertaking of Zelinka Limited including all assets and liabilities,
stood transferred to and vested in the Company;
• The Equity Shares held by the Company in Zelinka Limited were cancelled without
any exchange of shares in the Company, as its entire paid-up share capital was held by the
Company.
Amalgamation of Balaji Distilleries Limited with the Company
Balaji Distilleries Limited (BDL), which has been a contract manufacturing unit of the
UB Group ever since its inception in the year 1983, is proposed to be amalgamated with the
Company with effect from April 1, 2009, being the Appointed Date. BDL has a large state of
the art distillery and brewery in Tamil Nadu. The distillery has a capacity to produce Ten
million cases per year while the brewery has a capacity of Nine million dozens per annum
expandable to about twelve " million dozens. BDL incurred huge losses resulting in
the erosion of its entire Net Worth and in consequence, BDL on reference, has been
declared as a sick industrial undertaking under the Sick Industrial Companies (Special
Provisions) Act, 1985 (SICA).
The draft Rehabilitation Scheme along with the Scheme of Arrangement between Balaji
Distilleries Limited, Chennai
Breweries Private Limited and United Spirits Limited has been submitted to the Board
for Industrial and Financial Reconstruction (BIFR). The Scheme of Arrangement will become
effective on receipt of necessary approval from BIFR.
SUBSIDIARIES
During the year under review, United Spirits (Shangai) Trading Company Limited became a
wholly owned subsidiary of your Company.
Consequent upon the amalgamation of Shaw Wallace & Company Limited and Primo
Distributors Private Limited with the Company:
• Shaw Wallace & Company Limited and Primo Distributors Private Limited ceased
to be subsidiaries of the Company;
• Shaw Wallace Breweries Limited became direct subsidiary of the Company;
Consequent upon the amalgamation of Zelinka Limited with the Company:
• Zelinka Limited ceased to be a wholly owned subsidiary of the Company;
• Palmer Investment Group Limited and Montrose International S.A. became direct
wholly owned subsidiaries of the Company;
• Liquidity Inc. became a direct subsidiary of the Company.
The Company has made application to the Government of India pursuant to Section 212(8)
of the Companies Act, 1956 seeking approval for exempting the Company from attaching with
the accounts of the Company, the Balance Sheet, Profit & Loss Account, Directors'
Report, Auditors' Report and other particulars of the Subsidiary Companies as on March 31,
2009. The necessary approval in this regard is awaited. Pending such approval, Balance
Sheet, Profit Loss Account, Directors' Report, Auditors' Report and other particulars of
the subsidiary companies as on March 31, 2009 have not been attached with the accounts of
the Company. The documents/details will be made available to any Member of the Company and
its subsidiaries upon request to the Company. The annual accounts of the subsidiary
Companies as on March 31, 2009 will also be kept for inspection by any member at the
Registered Office of the Company and that of the subsidiary Companies concerned.
The Accounting year of United Spirits Nepal Private Limited (USNPL), your Company's
Subsidiary in Nepal is from mid-July to mid-July every year. Accordingly, Accounting year
of 2007-08 of USNPL ended on July 15, 2008 and the Accounting year 2008-09 ended on July
14, 2009, i.e., after the end of the close of the financial year of the Company, which
ended on March 31, 2009. For the purpose of compliance under Accounting Standard-21,
relating to "Consolidated Financial Statement," the Accounts of USNPL has been
drawn up to March 31, 2009.
For the purpose of compliance under Accounting Standard - 21, "Consolidated
Financial Statement" presented by the Company includes the financial information of
its subsidiaries.
PROSPECTS
The IMFL industry has been growing at a fast pace and the rate of growth seems to be
accelerating. This is due to a combination of first time entrants to the market upon
attaining legal age and uptrading from country liquor. For the year ended March 31, 2009,
the total IMFL industry stood at 214 million cases and it is anticipated that double digit
growth will continue in the industry for several years to come.
Input costs have been on the rise for the last two years and continue to be a cause of
concern. However, supply side constraints are somewhat mitigated by reduction in demand
for industrial use of alcohol and new grain distillation facilities that have come up in
various parts of the country. Your Company, as the clear market leader would expect to
garner a major share of the growth prospects of the industry, while being able to parley
its critical size to ensure consistent availability of inputs at competitive prices.
Efforts by the Company to generate resources to prepay loans were successfully
initiated with the sale of 10,282,553 "Treasury Shares", which raised about US$
186 million. Plans have been drawn up for raising additional sums to further repay debt,
which will have the beneficial impact of lower interest costs in the coming years.
The demand for Scotch continues to grow, especially from new markets in Asia and this
has led to the continued hardening of scotch prices, thus affirming the strategic
advantage of the Whyte and Mackay acquisition.
The consolidated accounts for the year include non cash adjustments, reflecting changes
in the relative exchange rates of reporting currency, the US Dollar and the Great Britain
Pound. While Accounting Standards require the Company to recognize these differences in a
calibrated manner over three years, the same is not viewed as a business constraint.
DEPOSITORY SYSTEM
The trading of the equity shares in your Company is under compulsory dematerialisation
mode. As of date, equity shares representing 94.66% of the equity share capital are in
dematerialised form. As the depository system offers numerous advantages, members are
requested to take advantage of the same and avail of the facility of dematerialisation of
the Company's shares.
DIRECTORS
Mr. Sreedhara Menon and Dr.Vijay Mallya retire by rotation and being eligible, offer
themselves for re-appointment.
AUDITORS
M/s. Price Waterhouse, your Company's Auditors, are eligible for re-appointment at the
Annual General Meeting and it is necessary to fix their remuneration.
TAX AUDITORS
Your Directors have appointed M/s. Lodha & Co., Chartered Accountants as the Tax
Auditors of the Company to carry out the tax audit of the Company for the year ended March
31, 2009.
LISTING OF SHARES OF THE COMPANY
Your Company's Equity Shares have been delisted from the Stock Exchanges at Ahmedabad,
Chennai, Delhi and Kolkata in accordance with the shareholders' approval at the Annual
General Meeting of the Company held on November 28, 2007.
The Equity Shares of your Company continue to remain listed on Bangalore Stock Exchange
Limited, Bombay Stock7,749,121 equity shares issued and allotted to the shareholders of
erstwhile Shaw Wallace & Company Limited in terms of the Scheme of Amalgamation will
be listed on the stock exchanges where the existing equity shares of the Company are
presently listed and necessary steps have been taken by your company in this regard
Exchange Limited and National Stock Exchange of India Limited. The listing fees for the
year 2009-10 have been paid to these Stock Exchanges.
GLOBAL DEPOSITARY SHARES
Your Company had issued 17,502,762 Global Depositary Shares (GDSs) representing
8,751,381 Equity Shares ranking pari-passu in all respects with the existing
paid-up equity shares, 2 GDSs representing 1 equity share of par value of Rs.10/- each at
US$7.4274 per GDSs aggregating to US$ 130 mn. These GDSs are listed on the Luxembourg
Stock Exchange.
As on July 24, 2009, there is an outstanding of 689,900 GDSs representing 344,950
equity shares.
CREDIT RATING
ICRA Limited (ICRA) has assigned "LA-" (pronounced LA minus) rating on the
long term scale to the Long Term Debt Programme of the Company (Basel II) and also
assigned "A1" (pronounced A One) rating on the short term scale to the Short
Term Debt Programme of the Company.
CORPORATE GOVERNANCE
A report on the Corporate Governance is annexed separately as part of this report along
with a certificate of compliance from a Company Secretary in practice. Necessary
requirements of obtaining certifications/declarations in terms of Clause 49 have been
complied with.
MANAGEMENT DISCUSSION AND ANALYSIS
Pursuant to Clause 49 of the Listing Agreement with the Stock Exchanges, Management
Discussion and analysis Report is annexed and forms an integral part of the Annual Report.
FIXED DEPOSITS
Fixed Deposits from the public and shareholders, stood at Rs.654.01 million as at March
31, 2009. Matured deposits for which disposal instructions had not been received from
concerned depositors stood at Rs.28.07 million as at March 31, 2009. Of this, a sum of Rs.
7.51 million has been since paid as per instructions received after the year-end.
TRANSFER TO INVESTOR EDUCATION AND PROTECTION FUND
Pursuant to the provisions of Section 205A(5) and 205C of the Companies Act, 1956, the
Unclaimed Dividend, Debentures and Deposits, remaining unclaimed and unpaid for more than
7 years, have been transferred to the Investor Education and Protection Fund.
HUMAN RESOURCES
Employee relations remained cordial at all the Company's locations.
Particulars of employees drawing an aggregate remuneration of Rs.2,400,000/- or above
per annum or Rs.200,000/- or above per month, as required under Section 217(2A) of the
Companies Act, 1956, are annexed.
EMPLOYEE STOCK OPTION SCHEME
The Company has not offered any stock option to the Employees during the year 2008-2009
either under the McD ESOP Scheme or McD-Employee Stock Option Scheme - 2002.
CONSERVATION OF ENERGY & TECHNOLOGY ABSORPTION, ETC.
In accordance with the provision of Section 217(1)(e) of the Companies Act, 1956, read
with the Companies (Disclosure of Particulars in the Report of the Board of Directors),
Rules, 1988, the required information relating to Conservation of Energy, Technology
Absorption and Foreign Exchange earnings and outgo is annexed.
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to Section 217 (2AA) of the Companies Act, 1956, in relation to financial
statements for the year 2008-09, the Board of Directors reports that:
• in the preparation of the annual accounts, the applicable accounting standards
have been followed along with proper explanation relating to material departures;
• accounting policies have been selected and applied consistently and that the
judgements and estimates made are reasonable and prudent so as to give a true and fair
view of the state of affairs of the Company as at the end of the financial year and of the
profit of the Company for the year ended March 31, 2009;
• proper and sufficient care have been taken for the maintenance of adequate
accounting records in accordance with the provisions of the Companies Act, 1956, for
safeguarding the assets of the Company and for preventing and detecting fraud and other
irregularities;
• the annual accounts have been prepared on a going concern basis.
THANK YOU
Your Directors place on record their sincere appreciation for the continued support
from the shareholders, customers, suppliers, banks and financial institutions and other
business associates. A particular note of thanks to all employees of your Company, without
whose contribution, your Company could not have achieved the year's performance.
By Authority of the Board
| Bangalore |
Dr. VIJAY MALLYA |
| July 29, 2009 |
Chairman |
ANNEXURE TO DIRECTORS' REPORT
[Additional information given pursuant to requirement of Section 217(1 )(e) of the
Companies Act, 1956]
CONSERVATION OF ENERGY
With reference to energy conservation and cost reduction, steps taken by the company at
its various manufacturing units were as follows:-
• Energy Audits were undertaken and devices such as 'Power Bos', 'Variable
Frequency Drive' and 'Automatic Power Factor Control unit' were installed for conservation
of electrical and thermal energies.
• Process plant revamp was done to reduce steam consumption.
• Plate Heat Exchangers were installed for Heat Recovery.
• Steam driven condensate recovery pumps were installed for reducing Electrical /
Fuel consumption.
RESEARCH & DEVELOPMENT (R&D)
As an ongoing process the Company carries out research in its State-of-the-art in-house
Research and Development Centre for development of new-age products, new innovative
packaging materials and analytical method for quality management.
Expenditure on R & D: (Rs. in Million)
| (a) Capital |
0.214 |
| (b) Recurring |
30.033 |
| (c) Total |
30.247 |
(d) Total R&D expenditure as a percentage of total turnover - 0.08%
TECHNOLOGY ABSORPTION
Technology imported during the last 5 years : Nil
• The Company is evaluating latest Technology for effluent Treatment of Distillery
waste by a new process called evaporation / incineration.
• Imported labeling machines were installed for labeling of premium products to
further enhance the quality of finished product.
• The Company perfected the art of sleeving technology by importing sleeving
machine for full body sleeving of certain White Spirit Brands.
• The Company is also evaluating the use of Gas Turbines for utilizing Methane gas
produced in Anaerobic Digester and generating captive power for running the Distilleries.
FOREIGN EXCHANGE EARNINGS/OUTGO
|
(Rupees in Million) |
|
2008-09 |
2007-08 |
| 1 Exports & Foreign Exchange earnings |
42.142 |
19.597 |
| 2 Imports / Expenditure in Foreign Currency |
1,944.014 |
792.318 |
|
By Authority of the Board |
| Bangalore |
Dr. VIJAY MALLYA |
| July 29, 2009 |
Chairman |
ANNEXURE TO DIRECTORS' REPORT
STATEMENT OF PARTICULARS OF EMPLOYEES AS REQUIRED UNDER SECTION 217(2A) OF THE
COMPANIES ACT, 1956 AND COMPANIES (PARTICULARS OF EMPLOYEES) RULES, 1975.
| SL No |
NAME |
AGE |
DESIGNATION/ NATURE OF DUTIES |
REMUNERATION (Rs) |
QUALIFICATION |
EXPERIENCE IN YEARS |
DATE OF COMMENCEMENT OF EMPLOYMENT |
PARTICULARS OF PREVIOUS EMPLOYMENT |
| 1 |
A R BANERJEE |
51 |
ASSISTANT VICE PRESIDENT - FINANCE & ACCOUNTS |
4,375,118 |
B COM (HONS), AICWA |
30 |
1-Oct-85 |
Cost Accountant, Bengal Waterproof Limited |
| 2 |
A HARISHA BHAT |
55 |
DEPUTY PRESIDENT & GROUP TREASURER |
8,658,348 |
CA |
31 |
22-Nov-90 |
Manager Treasury, Digital Equipment (I) Limited |
| 3 |
ABHAY KEWADKAR |
48 |
SENIOR VICE PRESIDENT-WINES |
4,632,010 |
B TECH (CHEM) |
27 |
23-Aug-06 |
Vice President & Wine Maker, Grover Vineyards Limited |
| 4 |
AJAY B BALIGA* |
50 |
EXECUTIVE VICE PRESIDENT - PPMQC |
2,296,350 |
B TECH (CHEM ENGG) |
27 |
3-NOV-08 |
Senior Vice President - Business Development & Mfg, Allied Blenders &
Distillers Pvt Limited |
| 5 |
ALOK GUPTA* |
43 |
EXECUTIVE VICE PRESIDENT - MARKETING & BRAND INDIA |
3,606,686 |
B COM, PGDM |
21 |
21-Feb-95 |
Deputy General Manager, Shaw Wallace & Company Limited |
| 6 |
ALOK KUMAR SEN |
54 |
SENIOR GENERAL MANAGER - MATERIALS |
2,934,709 |
M COM |
30 |
19-Apr-82 |
Accounts Executive, Calcutta Industrial Supply Corporation |
| 7 |
AMRIT THOMAS |
42 |
EXECUTIVE VICE PRESIDENT - MARKETING |
12,137,840 |
B TECH, PGDM |
17 |
12-Jun-07 |
Category Head - Beverages, Hindustan Lever Limited |
| 8 |
ANANT IYER |
49 |
DIVISIONAL VICE PRESIDENT -INSTITUTIONAL & TRADE MARKETING |
6,185,605 |
M SC, M.M.S, |
25 |
15-Jun-92 |
Controller - Marketing, Consolidated Distilleries Limited |
| 9 |
ANIL KUMAR KUSH |
53 |
CHIEF EXECUTIVE - VITTAL MALLYA SCIENTIFIC RESEARCH FOUNDATION |
9,488,777 |
PHD, MBA |
25 |
13-May-05 |
Scientific Director, Genesis Management Consultants |
| 10 |
ARUN BOPAIAH |
57 |
DIVISIONAL VICE PRESIDENT -MANUFACTURING |
4,570,305 |
B.SC, LLB |
28 |
27-Oct-93 |
Manager - Personnel & Admin, Karnataka Jewels Limited |
| 11 |
ARUN MOKAL |
52 |
GENERAL MANAGER - ADMINISTRATION |
2,537,532 |
B.COM |
30 |
15-Apr-85 |
Mavkinnon Mackensieco Limited |
| 12 |
ARVIND JAIN |
46 |
DIVISIONAL VICE PRESIDENT - SALES |
4,746,485 |
PGDM |
25 |
12-Apr-91 |
Area Manager, Titan Watches Limited |
| 13 |
ASHOK CAPOOR |
56 |
DEPUTY PRESIDENT |
18,974,061 |
B.A (ECO), MBA |
34 |
12-May-92 |
Chief Operating Officer, erstwhile Herbertsons Limited |
| 14 |
ASHWIN MALIK* |
51 |
CHIEF OPERATING OFFICER OF A SUBSIDIARY COMPANY |
8,529,076 |
B.A. (ECO), MBA |
29 |
1-Nov-88 |
Vice President Sales & Marketing, Carew Phipson Limited |
| 15 |
B NARAYANA RAJU |
55 |
ASSISTANT VICE PRESIDENT - DISTILLERY |
2,677,490 |
M.SC |
29 |
24-Jun-02 |
General Manager - Production & Admin, Balaji Group |
| 16 |
BHARATH RAGHAVAN |
45 |
DIVISIONAL VICE PRESIDENT - LEGAL & SECRETARIAL |
3,860,638 |
B.COM, ACS |
23 |
13-Feb-98 |
Senior Manager Fixed Income, Peregrine Capital India Private Limited |
| 17 |
DALIP KUMAR GARG |
55 |
DIVISIONAL VICE PRESIDENT - SALES |
4,877,446 |
B.A. |
30 |
4-Oct-01 |
Vice President - Sales, Millenium Breweries Limited |
| 18 |
DEBABRATHA BANERJEE* |
49 |
SENIOR VICE PRESIDENT-SALES |
3,452,403 |
PGDBM |
28 |
1-Nov-96 |
Chief Operating Officer, erstwhile Herbertsons Limited |
| 19 |
DEBASHISH SHYAM |
41 |
DIVISIONAL VICE PRESIDENT-MARKETING |
4,670,002 |
BSC, PGDBM |
18 |
20-Sep-04 |
Head - Marketing & Alliances (Internet Services), Bharti Infotel Limited, New
Delhi |
| 20 |
DEBASISH DAS |
51 |
DIVISIONAL VICE PRESIDENT-MANUFACTURING (SOUTH) |
4,895,189 |
BSC, B TECH, PGDBM |
26 |
20-Aug-84 |
Chemist, Eastern Distilleries Private Limited |
| 21 |
DHARMARAJAN S |
51 |
DIVISIONAL VICE PRESIDENT - FINANCE & ACCOUNTS |
4,917,754 |
B COM, ACA, LLB |
25 |
7-Nov-86 |
Consultant, N M Raiji & Company |
| 22 |
DR BINOD K MAITIN |
60 |
SENIOR VICE PRESIDENT - QUALITY ASSURANCE & TECHNICAL |
6,041,753 |
M SC, PH.D., |
38 |
14-D#c-88 |
Senior Research Officer & Head, Analytical Research Group, Shriram Institute For
Industrial Research |
| 23 |
G DEVANATHAN |
53 |
SENIOR GENERAL MANAGER-INFORMATION SYSTEMS |
3,356,473 |
B.SC |
31 |
3-May-95 |
General Systems Manager, Amco Batteries Limited |
| 24 |
I P SURESH MENON |
52 |
SENIOR VICE PRESIDENT - PLANNING & CONTROL |
7,713,678 |
B.A. (HONS)MMS |
31 |
1-Apr-85 |
Secretary & Finance Manager ,UB Electronic Instruments Limited |
| 25 |
JOHN MATHEW ANTHRAPER |
36 |
SENIOR GENERAL MANAGER MARKETING |
2,719,735 |
MSC, MBA |
12 |
19-Jan-05 |
Britania Industries Limited |
| 26 |
JOSEPH PC |
56 |
GENERAL MANAGER - SALES (CSD) |
2,613,243 |
B A |
35 |
11-Oct-76 |
Packsell Combine, Office Assistant |
| 27 |
K KRISHNAMOORTHY |
58 |
ASSISTANT VICE PRESIDENT & COMPANY SECRETARY - SHAW WALLACE & COMPANY LIMITED |
3,666,185 |
B Com (Hons), LLB, ACS, Inter ICWA |
38 |
3-Sep-93 |
General Manager (Corp Finance) & Company Secretary, Ceeta Industries Limited, |
| 28 |
K R SANKARANARAYANA |
53 |
SENIOR GENERAL MANAGER - TECHNICAL |
7,908,779 |
M SC, DIFAT |
30 |
2-Jul-79 |
Executive, Tunga Bhadra Sugar Works |
| 29 |
K VIJAY KUMAR |
44 |
SENIOR GENERAL MANAGER - DISTILLERY |
2,437,580 |
B SC, PDDBM, DIFAT |
22 |
17-Feb-04 |
UDV India Limited |
| 30 |
KAUSHIK CHATTERJEE |
48 |
CHIEF OPERATING OFFICER - REGIONAL PROFIT CENTRE (EAST) |
12,097,381 |
B.COM |
25 |
27-Apr-06 |
Chief Operating Officer - Indian Operations, Mason And Summers Akobev Private Limited |
| 31 |
KUSHAL BANERJEE |
51 |
SENIOR GENERAL MANAGER - PERSONEEL & ADMINISTRATION |
3,042,341 |
B COM, PGDPM (IISWBM) |
30 |
8-Jul-02 |
Chief - Industrial Relations, Exide Industries Limited |
| 32 |
LAL RANGWANI |
43 |
ASSISTANT VICE PRESIDENT TRADE MARKETING & INSTITUTIONAL SALES (WEST) |
3,161,037 |
M.COM |
22 |
7-Aug-87 |
Executive, erstwhile Herbertsons Limited |
| 33 |
LALIT GUPTA |
49 |
SENIOR VICE PRESIDENT-LEGAL |
5,105,868 |
BSC, LLB, DLL |
26 |
1-Jun-98 |
Joint Manager - Legal, Shriram Foods & Fertilizers |
| 34 |
LAXMI NARASIMHAN |
39 |
CHIEF OPERATING OFFICER - REGIONAL PROFIT CENTRE (AP) |
5,781,485 |
BE, PGDM |
15 |
8-Dec-03 |
Regional Manager, Coca Cola India |
| 35 |
M A HAMEED |
52 |
ASSISTANT VICE PRESIDENT - SALES |
3,366,006 |
B COM |
25 |
1-Apr-03 |
Branch Sales Manager, Seagram Manufacturing Private Limited |
| 36 |
MAHESH NEDUNGADI |
49 |
SENIOR GENERAL MANAGER - LEGAL |
2,802,274 |
B COM (HONS), ACS |
26 |
6-May-96 |
Company Secretary, Nova Granites (India) Limited |
| 37 |
MATHEW XAVIER |
45 |
DIVISIONAL VICE PRESIDENT- MARKETING & INNOVATIONS |
5,954,224 |
PGDM / B COM |
20 |
10-Nov-03 |
Vice President - Marketing, Erstwhile Shaw Wallace Distilleries Limited |
| 38 |
MOHAN P MEDEIRA |
51 |
SENIOR GENERAL MANAGER - LOGISTCS, MATERIALS & MARKETING SERVICES |
3,246,935 |
B.SC (HONS), PGOSM, DBMM |
31 |
17-Apr-84 |
Sales Assistant, Fibreglass Pilkington Limited |
| 39 |
MOHANTY B K |
55 |
SENIOR GENERAL MANAGER - SALES |
2,534,637 |
B.A |
32 |
20-Jul-77 |
NA |
| 40 |
MONGIA S K |
68 |
DIVISIONAL VICE PRESIDENT - BUSINESS PROMOTION |
3,611,808 |
M.SC, DEF SC |
51 |
2-Aug-93 |
Commodore-Indian Navy |
| 41 |
N R RAJSEKHER |
53 |
CHIEF OPERATING OFFICER - REGIONAL PROFIT CENTRE (WEST) |
12,493,979 |
B.SC |
30 |
8-Apr-82 |
Vice President - Sales, erstwhile Shaw Wallace Distilleries Limited |
| 42 |
NAGAPPAGS |
54 |
DIVISIONAL VICE PRESIDENT - SALES |
4,835,691 |
B.SC |
34 |
1-Aug-75 |
Executive, erstwhile Herbertsons Limited |
| 43 |
NANDINI VERMA |
54 |
EXECUTIVE VICE PRESIDENT - CORPORATE AFFAIRS |
7,470,077 |
BA (HONS), IFDAF |
37 |
13-Apr-07 |
Vice President - Corporate Affairs & Public Relation, Jet Airways |
| 44 |
NAVRATAN DUGAR |
65 |
DEPUTY PRESIDENT - PROCUREMENT, PLANNING, MANUFACTURING & QUALITY CONTROL |
15,198,254 |
B.COM, M.COM, MBA, MCIM |
40 |
1-May-01 |
Adviser, Balaji Group of Companies |
| 45 |
P A MURALI |
51 |
DEPUTY PRESIDENT & CHIEF FINANCIAL OFFICER |
18,680,713 |
B COM, ACA |
28 |
5-Jul-93 |
Executive Vice President & Chief Financial Officer, United Breweries Limited |
| 46 |
P SRIRAM |
49 |
ASSISTANT VICE PRESIDENT-MANUFACTURING |
4,606,605 |
B TECH, PGDPM |
26 |
4-Jan-95 |
Assistant Vice President - Manufacturing, erstwhile Shaw Wallace Distilleries Limited |
| 47 |
PN PODDAR |
56 |
SENIOR VICE PRESIDENT |
6,523,806 |
M.TECH, DMS |
33 |
1-Jan-88 |
Production Manager, Union Carbide (1) Limited |
|
|
|
MANUFACTURING |
|
|
|
|
| 48 |
PV ACHAR |
57 |
GENERAL MANAGER - MATERIALS |
2,686,430 |
B COM, MBA, DIP IN MM |
38 |
11-Jan-88 |
Ideal Jawa (1) Pvt Limited, Senior Stores Officer |
| 49 |
PADMANABHAN N R |
52 |
ASSISTANT VICE PRESIDENT FINANCE & ACCOUNTS |
3,816,458 |
B COM, CA |
26 |
31-Aug-94 |
Accounts Superintendent, Schrader Duncan Limited |
| 50 |
PARAMJIT SINGH GILL |
47 |
CHIEF OPERATING OFFICER - REGIONAL PROFIT CENTRE (NORTH) |
7,272,217 |
B SC, D LL-CHARTERED MARKETER, M PHIL |
26 |
1-Dec-07 |
Executive Vice President, United National Breweries (SA) (Pty) Limited, Centurion |
| 51 |
PHILIP SARGUNAR A B |
60 |
CHIEF OPERATING OFFICER - REGIONAL PROFIT CENTRE (SOUTH) |
15,730,324 |
BA, MA |
39 |
20-Nov-02 |
Executive Director & Chief Reputation Officer, The Empee Distilleries Limited |
| 52 |
PRAKASH MIRPURI |
46 |
ASSISTANT VICE PRESIDENT - CORP MEDIA |
2,811,797 |
PGD |
26 |
9-Apr-07 |
Director - Client Services, Ipan |
| 53 |
PRATIP SEN |
57 |
ASSISTANT VICE PRESIDENT -MANUFACTURING |
3,988,859 |
B TECH (CHEM), PGDBM |
35 |
24-Nov-03 |
Chief Executive Officer, Vivada Chemicals Private limited |
| 54 |
R SATSANGI |
52 |
DIVISIONAL VICE PRESIDENT - REGIONAL MANUFACTURING HEAD (NORTH) |
4,914,504 |
B TECH (MECH) |
30 |
19-Feb-96 |
Plant Manager, Pepsico India Holding Limited |
| 55 |
R N PILLAI |
53 |
DIVISIONAL VICE PRESIDENT - FINANCE |
3,859,614 |
CA |
33 |
1-Mar-86 |
Accountant, Royal Oman Police |
| 56 |
RAGHUNATHAN A |
57 |
EXECUTIVE VICE PRESIDENT - FINANCE & ACCOUNTS |
8,180,984 |
B COM, ACA |
34 |
24-Sep-79 |
Executive Vice President - Finance & Accounts, erstwhile Herbertsons Limited |
| 57 |
RAJA R PETER |
50 |
SENIOR GENERAL MANAGER - BUSINESSDEVELOPMENT |
2,446,835 |
BE |
20 |
16-Jul 07 |
General Manager and Head Marketing Alliances,Tata Teleservices Limited |
| 58 |
RAJIV SURI |
52 |
DIVISIONAL VICE PRESIDENT - FINANCE |
5,047,917 |
B COM (HONS), MBA, ACA, |
31 |
16-May-94 |
Senior Manager - Marketing Finance, Reliance Industries Limited |
| 59 |
RANAJOY SARKAR* |
58 |
SENIOR GENERAL MANAGER - ACCOUNTS |
3,237,286 |
B COM (HONS), AICWA |
33 |
1-Dec-86 |
Western India Industries |
| 60 |
RAVI NEDUNGADI A K |
51 |
PRESIDENT & CHIEF FINANCIAL OFFICER -UB GROUP |
26,126,482 |
B COM (HONS), AICWA, ACA |
30 |
1-Jan-90 |
Group Finance Director, UB International Limited, U K |
| 61 |
ROBIN BASU* |
50 |
SENIOR VICE PRESIDENT-HR |
4,074,211 |
B COM, MBA |
24 |
20-Mar-07 |
Senior Vice President - HR, Berger Paints |
| 62 |
S ANANDA PRASAD |
56 |
GENERAL MANAGER TAXATION |
2,784,284 |
B COM,LL B, |
35 |
1-Jul-84 |
Assistant Manager - Accounts, Mysore Wine Products Limited |
| 63 |
S R AINAPUR |
51 |
ASSISTANT VICE PRESIDENT - ACCOUNTS |
4,544,664 |
CA |
27 |
1-Dec-87 |
Accounts Assistant, Kesarval Beverages Limited |
| 64 |
S A BAGI |
55 |
SENIOR GENERAL MANAGER - DISTILLERY |
3,186,601 |
B SC , DIFAT, DBM |
34 |
13-Aug-75 |
NA |
| 65 |
S C SINGHAL |
56 |
DIVISIONAL VICE PRESIDENT - MANUFAC-TURING (EAST) |
4,944,857 |
B SC, DIFAT |
32 |
1-Sep-89 |
Assistant Manager (Works), Shri Shadilal EnterprisesLimited |
| 66 |
S D LALLA |
65 |
JOINT PRESIDENT OVERALL OPERATIONS |
36,046,105 |
LC & SE, AMIE (CIVIL) |
47 |
5-Apr-94 |
Managing Director, erstwhile Herbertsons Limited |
| 67 |
S K RASTOGI |
55 |
DIVISIONAL VICE PRESIDENT - Quality |
5,357,745 |
M SC, |
37 |
14-Nov-82 |
Quality Control Officer, Jagatjit Industries Limited |
| 68 |
S N PRASAD |
51 |
Control DIVISIONAL VICE PRESIDENT - FINANCE |
4,956,553 |
B COM, ACA, ACS, |
25 |
7-Mar-91 |
Deputy Manager - Finance, UB Hoppecke Energy Products Limited |
| 69 |
S SATISH |
49 |
ASSISTANT VICE PRESIDENT - PLANNING & CONTRO L |
4,234,769 |
B COM |
29 |
21-Jul-89 |
Accounts Officer, BPL Sanyo Limited |
| 70 |
S SURYANARAYANAN |
49 |
ASSISTANT VICE PRESIDENT - ENGINEERING |
3,817,452 |
B SC.B TECH (MECH) |
27 |
10-Feb-89 |
Purchase Officer, Sundaram - Clayton Limited |
| 71 |
SANJAY RAINA* |
44 |
EXECUTIVE VICE PRESIDENT - HUMAN RESOURCES |
2,282,195 |
MSW-PERSONNEL MGMT |
22 |
19-Nov-08 |
Head HR - Network, Supply Cham - India & Er - SE Asia, Motorola India Private
Limited |
| 72 |
5ANJAY ROY |
35 |
HEAD - MARKETING & SALES - WINES |
2,833,566 |
B COM, PGDM |
12 |
18-Sep-00 |
Marketing Officer - Flash Lights, Eveready Industries India Limited |
| 73 |
SATENDRA CHAUDHARY* |
50 |
SENIOR GENERAL MANAGER - HR |
1,318,669 |
BA, LLB, PGDPM&IR |
29 |
18-Sep-08 |
Vice President, Aditya Birla Group, |
| 74 |
SATISH NAIR |
57 |
ASSISTANT VICE PRESIDENT - MATERIALS |
3,854,268 |
B SC, D-STRS MGMT, MATS |
34 |
6-Jul-84 |
Stores And Purchase Officer, Kartnataka Oxygen Limited |
| 75 |
SHARMA V K |
66 |
EXECUTIVE DIRECTOR - CHAIRMANS OFFICE |
7,028,860 |
B.COM, MA, LLB |
35 |
S-Oct-84 |
Executive Director - Chairman's Office, erstwhile Herbertso ns Limited |
| 76 |
SHIV KUMAR GUPTA |
56 |
ASSISTANT VICE PRESIDENT - DISTILLERY |
3,379,526 |
B SC, DIFAT |
36 |
13-Jan-06 |
General Manager - Distillery, A B Sugars Limited |
| 77 |
SUDARSHAN VACHARYA |
50 |
DIVISIONAL VICE PRESIDENT - RAW MA- TERIALS & OVERSEAS SUPPLY CHAIN |
4,266,689 |
B COM , DO-MAT, DIP- LABOUR LAW |
28 |
20-Jan-89 |
Assistant Manager - Purchase, Astra Idl Limited, Bangalor e |
| 78 |
SUKHVINDER SINGH |
58 |
SENIOR GENERAL MANAGER - DISTILLERY |
2,695,602 |
BA |
32 |
1-Jul-82 |
NA |
| 79 |
T K SUBRAMANIAN |
58 |
DIVISIONAL VICE PRESIDENT - SYSTEMS |
6,496,668 |
B.SC.DMS |
38 |
16-Mar-83 |
Controller - Systems, UBICS Limited |
| 80 |
T SAMBANDASAMY |
50 |
DIVISIONAL VICE PRESIDENT-SALES |
3,443,486 |
B.B.A, MBA |
27 |
12-Apr-83 |
General Manager - Sales, erstwhile Shaw Wallace Distilleries Limited |
| 81 |
TV SUBRAMANIAN |
54 |
ASSISTANT VICE PRESIDENT - BUSINESS DEVELOPMENTS |
4,659,799 |
M.COM ICWA |
31 |
16-Jun-86 |
Manager-Branch Services, Deccon Marketing Limited |
| 82 |
V K REKHI |
63 |
MANAGING DIRECTOR |
42,361,828 |
MA (HONS), PGDBA., |
38 |
3-Jan-72 |
Regional Director, UB International Limited, U K |
| 83 |
V S VENKATARAMAN |
55 |
COMPANY SECRETARY & SENIOR VICE PRESIDENT |
7,193,171 |
B.COM (HONS), ACS |
37 |
20-Aug-82 |
Deputy Company Secretary, United Breweries Limited |
| 84 |
V MURALI |
47 |
SENIOR GENERAL MANAGER - DISTILLERY |
2,813,692 |
ME (CHEM).DBA |
23 |
4-Oct-90 |
Manager - Technical Service, Associated Drug Company Private Limited Deputy General
Manager, Shaw Wallace 8c |
| 85 |
VIVEK PRAKASH |
48 |
SENIOR VICE PRESIDENT - CSD SALES |
7,521,889 |
B COM, LLB, |
27 |
15 Jun-98 |
Company Limited |
| 86 |
WILLIAM DEVADASS |
41 |
SENIOR GENERAL MANAGER - INST SALES & TRADE MKTG |
2,792,350 |
B COM |
18 |
25-Oct-06 |
Seagram Manufacturing Private Limited |
| 87 |
ZEYN MIRZA |
46 |
SENIOR GENERAL MANAGER - BUSINESS DEVELOPMENT |
2,728,074 |
B.COM, DIP IN COMP, F&A, HRSE BREED |
24 |
19-Aug-03 |
Managing Director, Adroit Tech Solutions Limited |
* Employed for part of the year Notes:
1. No Employee is on Contract Employment Other Terms and Conditions are as per Service
Rules of the Company from time to time.
2. None of the above mentioned employees is related to any Director of the Company.
3. Remuneration as shown above includes Salary, House Rent Allowance, Company's
contribution to Provident Fund and Super Annuation Fund, Value of Residential
Accomodation, Bonus, Medical and other facilities.
By Authority of the Board
| Bangalore |
Dr. VIJAY MALLYA |
| July 29, 2009 |
Chairman |
|
|