Century Textiles & Industries Ltd Directors Report.

Dear Shareholders,

We have pleasure in presenting the 124th Annual Report of the Company along with the audited statement of accounts for the year ended 31st March, 2021. All the business segments of the Company faced disruptions during entire 2020-21 caused by the COVID-19 pandemic outbreak. These disruptions manifested into lacklustre demand and pressure on selling prices for the products of the Company. Thus, the performance of the Company for the financial year 2020-21 has been adversely affected as compared to the previous year. As the pandemic is still continuing with the situation being fluid, the Company continues to monitor and assess the business operations regularly and is taking all possible precautions in terms of safety of its staff and workers at all the locations of its offices and manufacturing plants.

The summarised financial results are given below.

1. SUMMARISED FINANCIAL RESULTS:

(Rs in Crores)

Standalone

Consolidated

Particulars 2020-21 2019-20 2020-21 2019-20
Earnings before finance cost, tax, depreciation and 366.17 695.22 285.32 600.06
amortisation (EBITDA)
Less:
Finance Cost 88.55 93.13 70.70 87.09
Profit after Finance Cost 277.62 602.09 214.62 512.97
Less:
Depreciation 229.02 227.76 231.13 228.58
Profit / (Loss) before tax 48.60 374.33 (16.51) 284.39
Less/(Add):
Adjustment of tax relating to earlier periods (19.25) - (19.25) -
Deferred Tax Debit / (Credit) 17.81 (93.69) 17.81 (93.69)
Profit / (Loss) after tax from continuing operations 50.04 468.02 (15.07) 378.08
Less:
Loss after tax from discontinued operations 18.54 17.65 18.54 17.65
Net Profit / (Loss) for the year 31.50 450.37 (33.61) 360.43
Other Comprehensive Income / (Loss) 2.28 (4.00) 2.28 (4.00)
Total Comprehensive Income / (Loss) 33.78 446.37 (31.33) 356.43
Loss Attributable to Non-Controlling Interest - - 3.17 4.82
Total Comprehensive Income / (Loss) of the Company 33.78 446.37 (28.16) 361.25
Retained Earnings
Balance brought forward 1255.51 910.13 1157.99 897.73
Total comprehensive Income / (Loss) for the year 33.78 446.37 (28.16) 361.25
Equity Dividend (33.51) (83.77) (33.51) (83.77)
Tax on equity dividend - (17.22) - (17.22)
Transfer from Debenture Redemption Reserve 181.26 - 181.26 -
Balance carried forward 1437.04 1255.51 1277.58 1157.99

The performance of each business segment of the Company has been comprehensively discussed in the Management Discussion and Analysis Report (forming part of the Annual Report) based on the reports of the Senior President/CEO of each of the units of the Company.

2. DIVIDEND:

The Board of Directors has recommended a dividend of 10% i.e. Rs 1/- (Rupee one only ) per share, of the face value of Rs 10/- each, for your approval which will be subject to applicable tax in the hands of shareholders. Last year the dividend was paid @ 30% subject to applicable tax in the hands of shareholders. This dividend will be paid when declared by the shareholders, in accordance with law. The aggregate amount of dividend will absorb Rs 11.17 Crores.

3. TRANSFER TO RESERVES:

It is proposed to transfer Rs Nil (previous year Rs Nil) to Reserves out of retained earnings.

4. SHARE CAPITAL:

The Companys paid up equity Share Capital continues to stand at Rs 111.69 Crores as on 31st March 2021. During the year, the Company has not issued any Shares or Convertible Securities.

5. EXPORTS:

The total exports of the Company amounted to Rs 345.85 Crores (Previous year Rs 598.72 Crores) representing about 12.91 percent of the total income.

6. CREDIT RATING:

CRISIL has given a credit rating of ‘CRISIL AA for long term and ‘CRISIL A1+ for short term financial instruments of the Company. This reaffirms the high reputation and trust the Company has earned for its sound financial management and its ability to meet financial obligations.

7. DISCONTINUED OPERATIONS:

Century Yarn and Century Denim:

As informed last year, the assets and liabilities of the Century Yarn and Century Denim units continued to be classified as assets held for disposal and operations were continued to be classified as ‘Discontinued Operations.

8. EXPANSION & MODERNISATION:

a) Pulp and Paper:

i) New Tissue Plant to manufacture Prime Grade Tissue Paper with a capacity of 100 tonnes per day was installed during the year. Trial run of the plant has been started on 14th March, 2021.

ii) Due to Covid-19, no erection and commissioning activities have been undertaken during 2020-21 for upgradation of paper machines 3 & 4 and for installation of a new evaporator.

b) To maintain competitiveness and achieve better quality, modernization & technological upgradation programmes continue at all the units of the Company. Stringent cost control measures remain in place in all possible areas and are regularly reviewed. Special emphasis is being given to water and energy conservation.

9. DIRECTORS:

a. Pursuant to the provisions of Section 152 of the Companies Act, 2013, Mr. Kumar Mangalam Birla (DIN: 00012813) retires by rotation, as Director, at the ensuing Annual General Meeting and being eligible, offers himself for reappointment.

The Board recommends his re-appointment.

b. Mr. R.K. Dalmia (DIN: 00040951), Senior President, Textile Division of the Company, has been re-appointed as a Whole-time Director of the Company with effect from 15th September, 2021 till 31st March, 2023. A suitable resolution in this regard is being proposed at the forthcoming Annual General Meeting of the Company for the approval of the Members of his re-appointment as a Whole-time Director of the Company.

The Board recommends his re-appointment.

c. Familiarisation Programme for the Independent Directors

The Company has, over the years, developed a robust familiarisation process for the newly appointed Directors with respect to their roles and responsibilities. The process has been aligned with the requirement under the Companies Act, 2013. The process, inter alia, includes providing an overview of the Textile, Pulp & Paper and Real Estate Industries relating to the Companys businesses, the risks, and opportunities, etc.

d. Board Evaluation

Pursuant to the provisions of the Companies Act, 2013 and SEBI LODR Regulations, the Board has carried out an annual performance evaluation of its own performance; of the Directors individually; as well as the evaluation of the working of its Audit, Nomination & Remuneration and other Committees of the Board.

At the meeting of the Board, all the relevant factors that are material for evaluating the performance of individual Directors, the Board and its various Committees, were discussed in detail. A structured questionnaire, each in line with the circular issued by SEBI, for evaluation of the Board, its various Committees and individual Directors, was prepared and recommended to the Board by the Nomination & Remuneration Committee, for conducting the required evaluation, after taking into consideration the inputs received from the Directors, covering various aspects of the Boards functioning, such as adequacy of the composition of the Board and its Committees, execution and performance of specific duties, obligations and governance, etc. A separate exercise was carried out to evaluate the performance of individual Directors, including the Chairman of the Board, who were evaluated on parameters such as level of engagement and contribution, independence of judgment, safeguarding the interest of the Company and its minority Shareholders, etc. The performance evaluation of the Independent Directors was carried out by the entire Board, excluding the Director being evaluated. Independent Directors fulfill the criteria of independence and they are independent of management. The performance evaluation of the Chairman and non-independent Directors was also carried out by the Independent Directors at their separate meeting. The Directors expressed their satisfaction with the evaluation process.

e. Meetings

During the year, 5 (five) Board meetings were convened and held. The details thereof are given in the Corporate Governance Report. The intervening gap between the Meetings was within the period prescribed under the Companies Act, 2013.

10. AWARDS, CERTIFICATES, PRIZES:

Various Divisions/Subsidiary of the Company have received notable awards as mentioned below:-

Birla Estates Private Limited (100% subsidiary):

• Birla Estates was recognized as the Iconic Emerging Developer in India by Mid-Day at its Real Estate Icons Awards - 2020.

• Birla Navya the Premium floor residences project in Golf course extension, Gurugram received many awards like the Residential Project of the year at Realty+ Conclave & Excellence Awards (North) - 2020 and Luxury Project of the Year (North) at RE/MAX Estate Awards 2020. The project was also recognized as the ‘Iconic Sustainable Township by Hindustan Times.

• Birla Alokya in Whitefield Bengaluru was recognized as Iconic Project of the Year (South) at Realty+ Conclave & Excellence awards 2020.

Birla Century (Textiles Division):

• Golden Peacock Award for Energy Efficiency - 2020.

• Claimed score of 77.4% and won Silver Medal in NAMC

- 2020 along with special award for "Transformational Journey towards Differentiated Products".

Century Pulp & Paper Division:

• Sustainability 4.0 Challengers Award: Lalkuan Plant has been awarded "Sustainability 4.0 Challengers Award-2020" in a joint assessment conducted by Frost & Sullivan and Teri, covering various business aspects under 4 major pillars i.e. People, Partnership, Purpose and Planet.

• Sustainability 4.0 Power Plant Optimization Award: Lalkuan Plant has been awarded "Sustainability 4.0 Jury Special Award-2020" (2nd runner-up) towards various Energy Conservation efforts made by the plant. This evaluation has been made in a joint assessment conducted by Frost & Sullivan and Teri, covering various energy conservation parameters like

- boiler & TG combined cycle efficiency improvements, coal & power saving initiatives and plants contribution towards Environment etc.

• Agro-Industrial Exhibition Award: In the 109th "All India Farmers Fair and Agro-Industrial Exhibition - 2021", organised by and held at G B Pant University of Agriculture & Technology, Pantnagar, Uttarakhand, the Division has received First prize.

11. AUDITORS:

S R B C & Co. LLP, Chartered Accountants (ICAI Firm Registration No.324982E/ E300003), who are the Statutory Auditors of the Company were appointed as the Statutory Auditors for a term of five years at the Annual General Meeting of the Company held on 28th July, 2016. S R B C & Co. LLP is completing their present term of five years as Statutory Auditors of the Company at the conclusion of the ensuing Annual General Meeting. They are eligible for re-appointment for a second term of five years as provided under Section 139 of the Act read with the Companies (Audit and Auditors) Rules, 2014. The Board of Directors upon the recommendation of the Audit Committee, propose their re-appointment for second term of five consecutive years as Statutory Auditors of the Company from the conclusion of the forthcoming Annual General Meeting subject to approval of shareholders of the Company. They have confirmed their eligibility under Section 141 of the Act, and the Rules framed thereunder,

for their appointment as Auditors of the Company. Resolution seeking your approval forms part of the Notice convening the AGM.

12. AUDITORS REPORT:

The Auditors Report to the Shareholders does not contain any reservation, qualification, or adverse remark. During the year under review, neither the statutory auditors nor the Cost Accountant & secretarial auditors have reported to the audit committee of the board under Section 143(12) of the Act, any instances of fraud committed against the Company by its officers and employees, the details of which would need to be mentioned in this report.

13. COST AUDITORS AND COST AUDIT REPORT:

Pursuant to Section 148 of the Companies Act, 2013 read with The Companies (Cost Records and Audit) Rules, 2014, the accounts and records are required to be maintained by the Company, in respect of various manufacturing activities and are required to be audited. Accordingly, such accounts and records are maintained in respect of various manufacturing activities. The cost audit report for the financial year 2019-20 was filed with the Ministry of Corporate Affairs on 10th August, 2020. M/s. R. Nanabhoy & Co., Cost Accountants, were appointed as the Companys Cost Auditor.

Your Directors have, on the recommendation of the Audit Committee, appointed M/s. R. Nanabhoy & Co., Cost Accountants, to audit the cost accounts of the Textiles and Pulp & Paper products of the Company for the financial year 2021-22 at a remuneration of Rs 1.35 lac.

As required under the Companies Act, 2013, the remuneration payable to the cost auditor is required to be placed before the members in a general meeting for their ratification. Accordingly, a resolution seeking the members ratification for the remuneration payable to M/s. R. Nanabhoy & Co., Cost Auditors, in terms of the resolution proposed to be passed, is included in the Notice convening the Annual General Meeting of the Company.

14. SECRETARIAL AUDIT:

Pursuant to the provisions of Section 204 of the Companies Act, 2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company has appointed M/s. Gagrani & Gagan, Company Secretaries in practice (CP No.1388), to undertake the Secretarial Audit of the Company for the year ending 31st March, 2022. The Secretarial Audit Report for the

year ended 31st March, 2021 is annexed herewith as ‘Annexure-I to this Report. The Company has complied with all applicable Secretarial Standards (SS) issued by the Institute of Company Secretaries of India (SS1 and SS2), relating to the meetings of the Board including its Committees and General Meetings which have mandatory application during the year under review. The Secretarial Audit Report does not contain any adverse qualification, reservation, or remark.

15. FIXED DEPOSITS:

During the year, the Company has not accepted any deposits from the public and there are no outstanding deposits in terms of the Companies (Acceptance of Deposits) Rules, 2014.

16. LOANS, GUARANTEES AND INVESTMENTS:

The details of loans and guarantees given and securities provided, and investments made as covered under the provisions of Section 186 of the Companies Act, 2013 are given in the Consolidated and Standalone Financial Statements.

17. DIRECTORS RESPONSIBILITY STATEMENT:

The Board of Directors acknowledge the responsibility for ensuring compliance with the provisions of Section 134(3) (c) read with Section 134(5) of the Companies Act, 2013 in the preparation of the annual accounts for the year ended on 31st March, 2021 and state that:

a. in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;

b. the directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit and loss of the Company for that period;

c. the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d. the directors have prepared the annual accounts on a going concern basis;

e. the directors have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and were operating effectively; and

f. the directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

18. KEY MANAGERIAL PERSONNEL:

Mr. J.C. Laddha is the Managing Director of the Company and Mr. R. K. Dalmia is the Whole -time Director of the Company. Mr. Snehal Shah is the Chief Financial Officer and Mr. Atul K. Kedia is the Company Secretary of the Company.

19. CORPORATE GOVERNANCE:

A separate report on Corporate Governance is enclosed as a part of this Annual Report. A certificate from the Auditors of the Company regarding compliance with the Corporate Governance norms stipulated is annexed to the Report on Corporate Governance.

20. AUDIT COMMITTEE AND VIGIL MECHANISM:

The Audit Committee comprises of four members out of which three members are Independent Directors. The Company Secretary is the Secretary of the Committee. All transactions with related parties are on an arms length basis. During the year, there are no instances where the Board had not accepted the recommendations of the Audit Committee. The Company has in place a vigil mechanism for Directors and Employees, to report genuine concerns about any wrongful and any unethical conduct with respect to the Company or its business or affairs. This policy covers malpractices, misuse or abuse of authority, fraud, and violation of the Companys policies or Rules, manipulations, negligence causing danger to public health and safety, unethical behavior, misappropriation of monies and other matters or activity on account of which the interest of the Company is affected or is likely to be affected and formally reported by whistle blowers. The Policy provides that all protected disclosures can be addressed to the Vigilance and Ethics Officer of the Company or to the Chairman of the Audit Committee / Whole-time Director in exceptional cases. All protected disclosures under this policy will be recorded and thoroughly investigated. If an investigation leads the Vigilance and Ethics Officer / Chairman of the Audit Committee to conclude that an improper or unethical act has been committed, the Vigilance and Ethics Officer / Chairman of the Audit Committee shall recommend to the management of the Company to take such disciplinary or corrective action as he may deem fit. The details of the vigil mechanism are also available on the Companys website www.centurytextind.com.

21. RISK MANAGEMENT:

The Company has constituted a Risk Management Committee, mandated to review the risk management plan/process of the Company. The Risk Management Committee identifies potential risks and assesses their potential impact with the objective of taking timely action to mitigate the risks, as provided under the Enterprise Risk Management (ERM) Framework of the Company.

The Audit Committee has also been delegated with the responsibility of monitoring and reviewing risk management, assessment and minimization procedures, developing, implementing and monitoring the risk management plan and identifying, reviewing and mitigating all elements of risks which the Company may be exposed to.

The key risks identified by the Company include, cyber security and data protection risk, financial & economic risk, competition risk, operational risk and compliance of all applicable statutes and regulations. The Company has well defined ERM policy & mechanism to mitigate these risks. The Company reviews the risk register periodically, to align with the changes in economic environment, market practices and regulations.

22. CORPORATE SOCIAL RESPONSIBILITY (CSR) COMMITTEE:

In terms of the provisions of Section 135 of the Companies Act, 2013, read with Companies (Corporate Social Responsibility Policy) Rules, 2014, the Board of Directors of the Company has constituted a Corporate Social Responsibility ("CSR") Committee. The composition and terms of reference of the CSR Committee is provided in the Corporate Governance report, which forms part of this report.

The Company has also in place a CSR Policy and the same is available on the Companys website: www. centurytextind.com. During the year, the Company has identified and approved CSR projects of Rs 11.21 Crores as against Rs 11.21 Crores required to be spent during the financial year 2020-21. The Company spent Rs 6.12 Crores towards CSR activities for 2020-21 and has also fulfilled its obligation for the last year i.e. 2019-20 by incurring additional amount of Rs 5.22 Crores for the said year which had remained unspent. Further Rs 5.09 Crores remaining unspent for the year 2020-21 relating to ongoing projects have been deposited in a separate bank account in terms of Section 135(6) of the Companies Act, 2013. The Company undertook projects related to scholarship for needy and meritorious students, awareness on mental health much needed during pandemic time and community related projects including education i.e. improving primary and secondary education, preventive health including Covid 19, skill development, sanitation. The Company reached out

to around 67 locations across 18 States. The Companys key objective is to actively contribute to the social and economic development of the communities in which it operates.

As a socially responsible and caring Company, we are committed to play a larger role in building a better, sustainable way of life for the weaker and marginalized sections of the society and raise the countrys human development index.

The particulars required to be disclosed pursuant to the Companies (Corporate Social Responsibility Policy) Rules, 2014 are given in RsAnnexure II forming part of this Report.

23. NOMINATION AND REMUNERATION COMMITTEE:

The Nomination and Remuneration Committee comprises of four members, of which three, including the Chairman of the Committee, are Independent Directors.

The salient feature of Companys Remuneration Policy is attached as ‘Annexure-III and forms a part of this Report. The Remuneration Policy is available on the website of the Company viz. www.centurytextind.com.

24. RELATED PARTY TRANSACTIONS:

All transactions entered with related parties as defined under the Companies Act, 2013 during the financial year, were in the ordinary course of business and on an arms length pricing basis and do not attract the provisions of Section 188 of the Companies Act, 2013. There were no materially significant transactions with the related parties during the financial year, which conflicted with the interest of the Company and hence, enclosing of Form AOC-2 is not required. Suitable disclosure as required by the Accounting Standard (Ind-AS 24) has been made in the notes to the Financial Statements.

All Related Party Transactions are placed before the Audit Committee. Prior omnibus approval of the Audit Committee is obtained on a yearly basis for the transactions which are of a foreseen and repetitive nature. The transactions entered pursuant to the omnibus approval so granted are audited and a statement giving details of all related party transactions is placed before the Audit Committee for its approval, on a quarterly basis. The policy on Related Party Transactions as approved by the Board has been uploaded on the Companys website.

None of the Directors has any pecuniary relationships or transactions vis-a-vis the Company.

The Solicitors for the Company, M/s. Mulla & Mulla & Craigie Blunt & Caroe, provide the legal services required by the Company from time to time. The transactions with the said firm are on an arms length basis and in the ordinary course of business. Mr. Yazdi P. Dandiwala, one of the Directors of the Company is a Senior Partner in the said firm of Solicitors.

25. DECLARATION BY INDEPENDENT DIRECTORS:

Necessary declarations have been obtained from all the Independent Directors that they meet the criteria of independence under sub-section (6) of Section 149 of the Companies Act, 2013 and as per Regulation 25 read with Regulation 16 of SEBI LODR Regulations. In the opinion of the Board there has been no change in the circumstances which may affect in the status of independent directors of the Company and the Board is satisfied of the integrity, expertise and experience (including proficiency in terms of Section 150(1) of the Companies Act, 2013 and applicable rules thereunder) of all Independent Directors on the Board. In terms of Section 150 read with Rule 6 of the Companies (Appointment and Qualification of Directors) Rules, 2014 Independent Directors of the Company have undertaken requisite steps towards the inclusion of their names in the databank of Independent Directors maintained with the Indian Institute of Corporate Affairs.

26. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS:

During the year 2020-21, no significant and material order has been passed by any regulator or by any Court which has a material impact on the financial position of the Company.

27. INTERNAL FINANCIAL CONTROL:

The Company has in place adequate internal financial control systems, commensurate with the size, scale, and complexity of its operations. During the year, such controls were tested and no reportable material weakness in the operations was observed. The Company has appropriate policies and procedures for ensuring the orderly and efficient conduct of its business, including adherence of the Companys policies, safeguarding of its assets, prevention and detection of frauds and errors, accuracy and completeness of accounting records and timely preparation of reliable financial information. During the year under review, the Company has not come across any incidence of fraud. The internal auditor monitors and evaluates the efficacy and adequacy of internal control systems in the Company. Based on the report of the internal auditor, the respective departments undertake corrective action in their respective areas and thereby strengthen the controls. Significant audit observations and corrective actions thereon are presented to the Audit Committee of the Board.

28. SUBSIDIARY & ASSOCIATE COMPANIES:

Birla Estates Private Ltd., a Wholly Owned Subsidiary of the Company had launched Companys first residential project at Kalyan near Mumbai viz. ‘Birla Vanya followed by Birla Alokya at Bengaluru. This year the Company launched Birla Navya (under Avarna Projects, LLP between Birla Estates and Anantraj) at Gurugram. During the year, Birla Estates Pvt. Ltd. registered a loss of Rs 51.71 Crores (previous year loss of Rs 86.64 Crores).

During the year, Birla Century Exports Pvt. Ltd., another Wholly Owned Subsidiary of the Company registered a profit of Rs 0.38 Crores (previous year loss of Rs 0.27 Crores).

None of the Subsidiaries mentioned above is a material subsidiary as per the threshold limit laid down under the SEBI LODR Regulations.

Industry House Ltd., in which the Company holds about 35% shares, is an Associate Company. Despite this fact, the accounts of Industry House Ltd. have not been consolidated with that of the Company as there is no requirement for the same as per the IND-AS 28.

29. CONSOLIDATED FINANCIAL STATEMENT:

The Directors also present the audited consolidated financial statements incorporating the duly audited financial statements of the subsidiaries, as prepared in compliance with the Companies Act, 2013, applicable Accounting Standards and other applicable laws, if any. A separate statement containing the salient features of its subsidiaries and associates in the prescribed form AOC-1 is annexed separately.

30. ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:

The information on conservation of energy, technology absorption and foreign exchange earnings and outgo stipulated under Section 134(3) (m) of the Companies Act, 2013 read with Rule 8(3) of The Companies (Accounts) Rules, 2014, is annexed herewith as ‘Annexure-IV.

31. PREVENTION OF SEXUAL HARASSMENT OF WOMEN AT WORKPLACE:

During the year under review, the Company has not received any complaint under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. The Company has complied with the provisions relating to the constitution of an Internal Complaint Committee under the Sexual Harassment of Women at

Workplace (Prevention, Prohibition and Redressal) Act, 2013.

32. BUSINESS RESPONSIBILITY REPORTING:

A separate section of Business Responsibility forms part of this Annual Report as required under Regulation 34(2) (f) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

33. PARTICULARS OF EMPLOYEES:

The prescribed particulars of employees required under Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are attached as ‘Annexure-V and form a part of this Report.

The information required under Section 197(12) of the Companies Act, 2013 read with Rule 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and forming part of the Directors Report for the year ended 31st March, 2021 is given in a separate Annexure to this Report.

The said Annexure is not being sent along with this Report to the Members of the Company in line with the provisions of Section 136 of the Companies Act, 2013. Members who are interested in obtaining these may write to the Company Secretary at the Registered Office of the Company. The aforesaid Annexure is also available for inspection by the Members at the Registered Office of the Company, 21 days before the 124th Annual General Meeting and up to the date of the said Annual General Meeting during the business hours on working days.

None of the employees listed in the said Annexure is a relative of any Director of the Company. None of the employees hold (by himself or along with his/her spouse and dependent children) more than two percent of the equity shares of the Company.

34. ANNUAL RETURN:

The web-link for the Annual Return placed on the Companys website is https://www.centurytextind.com/ assets/pdf/download-forms/annual-return-2021.pdf.

35. GENERAL DISCLOSURES:

i. There were no material changes and commitments affecting the financial position of the Company between end of the financial year and the date of report.

ii. There was no revision in the financial statements.

iii. The Company has not issued any sweat equity shares.

iv. The Company has not issued any shares with differential voting.

v. There has been no change in nature of business.

vi. The Company has not made any application during the year under Insolvency and Bankruptcy Code, 2016 and there is no proceeding pending under the said Code as at the end of the financial year.

vii. During the year, the Company has not undergone any one-time settlement and therefore the disclosure in this regard is not applicable.

viii. The Company is not having any Employee Stock Option Scheme under Section 62(1) of the Companies Act, 2013.

36. ACKNOWLEDGEMENTS:

Your Directors thank the various Central and State Government Departments, Organizations and Agencies for the continued help and co-operation extended by them. The Directors also gratefully acknowledge all stakeholders of the Company viz. customers, members, dealers, vendors, banks, and other business partners for the excellent support received from them during the year. The Directors place on record their sincere appreciation to all employees of the Company for their unstinted commitment and continued contribution to the Companys well-being.

Registered Office: On behalf of the Board
Century Bhavan
Dr Annie Besant Road J. C. Laddha Y. P. Dandiwala
Worli, Mumbai - 400 030 Managing Director Director
Dated: 6th May, 2021 DIN:03266469 DIN:01055000