Bombay Burmah Trading : Annual Report 2020-2021

A TRADITION OF TRUST

156th ANNUAL REPORT 2020-21

THE BOMBAY BURMAH

TRADING CORPORATION, LIMITED

A Wadia Enterprise

Contents

Location of Corporation's Estates and Factories	2
Notice of Annual General Meeting	3-29
Board's Report	30-70
Management Discussion and Analysis	71-80
Business Responsibility Report	81-90
Auditor's Report on Standalone Financial Statements	91-101
Standalone Financial Statements	102-107
Notes forming part of Standalone Financial Statements	108-172
Auditor's Report on Consolidated Financial Statements	173-187
Consolidated Financial Statements	188-195
Notes forming part of Consolidated Financial Statements	196-280
Statement under Section 129(3) of the Companies Act, 2013	281-284
10 years' Financial Review	285

156th Annual General Meeting

Monday, 13th day of September, 2021 at 3.00 p.m. through

Video Conferencing ("VC")/Other Audio Visual Means ("OAVM")

Annual Report 2020-2021

THE BOMBAY BURMAH TRADING CORPORATION, LIMITED

	ANNUAL REPORT 2020-21
Directors	Mr. Nusli N. Wadia, Chairman
	Mr. Jehangir N. Wadia
	Dr. (Mrs.) Minnie Bodhanwala
	Mr. Rajesh Batra
	Dr. Y. S. P. Thorat
	Mr. Vinesh Kumar Jairath
	Mrs. Gauri Kirloskar
	Mr. Ness N. Wadia, Managing Director
Chief Financial Officer	Mr. N. H. Datanwala
Company Secretary	Mr. Sanjay Kumar Chowdhary
Registered Office	9, Wallace Street, Fort, Mumbai 400 001.
Principal Bankers	HDFC Bank Limited
	Axis Bank Limited
	Kotak Mahindra Bank Limited
	The Hongkong & Shanghai Banking Corporation Limited
	Federal Bank Limited
Auditors	Walker Chandiok & Co LLP
	16th Floor, Tower II
	Indiabulls Finance Centre,
	SB Marg, Elphinstone (W)
	Mumbai 400 013
Solicitors	Crawford Bayley & Co.

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The Bombay Burmah Trading Corporation, Limited

THE BOMBAY BURMAH TRADING CORPORATION, LIMITED

LOCATION OF CORPORATION'S

ESTATES AND FACTORIES

Tea and Coffee Estates:	(1) Mudis Group of Estates, Mudis P.O.,
		Coimbatore Dist.
		Tamil Nadu, 642117
	(2) Singampatti Group of Estates,
		Manjolai P.O., Tirunelveli Dist.
		Tamil Nadu, 627420
	(3) Elk Hill Group of Estates, P.O. Box No.12,
		Sidapur P & T.O., South Coorg,
		Karnataka 571253
	(4)	Usambara Group,
		Marvera & Herkulu Estate,
		P.O. Box 22, Soni, Tanzania
	(5)	Dunsandle Estate, Dunsandle P.O.,
		Outacamund, Nilgiri Dist.,
		Tamil Nadu 643005
Auto Electric Components	Unit-1,No.342-343, 2nd Cross Street,
Business : (Electromags)	Nehru Nagar, Kottivakkam, Chennai,
	Tamil Nadu 600 096
	Unit-2, Plot no. 128-133, 3rd Cross Street,
	(Electromags) Nehru Nagar, Kottivakkam,
	Chennai, Tamil Nadu 600 041
	Unit-3, Plot no. 134-137, 3rd Cross Street,
	Nehru Nagar, Kottivakkam, Chennai,
	Tamil Nadu 600 041
Healthcare Division	Plot No.161-B, Village Danpur, Rudrapur Kashipur
	Road, Paragana-Rudrapur, Tehsil Kichha,
	Udhamsingh Nagar, Uttarakhand 263153
Malaysian Branch:	Suite 628, 6th Floor, Pan Global Plaza,
	Jalan Wong Ah Fook 80000,
	Johor Bahru, Malaysia.

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Annual Report 2020-2021

NOTICE

NOTICE is hereby given that the One Hundred and Fifty-Sixth Annual General Meeting ('AGM') of the Members of The Bombay Burmah Trading Corporation, Limited will be held on Monday, 13th day of September, 2021 at 3.00 p.m. through Video Conferencing ("VC")/Other Audio Visual Means ("OAVM"), to transact the following business. The venue of the meeting shall deemed to be the registered office of the Corporation at 9, Wallace Street, Fort, Mumbai 400 001.

ORDINARY BUSINESS:

1. To receive, consider and adopt:
2. 1. the Audited Financial Statements of the Corporation for the Financial Year ended 31 March 2021 together with the reports of the Board of Directors and Auditors thereon; and
   2. the Audited Consolidated Financial Statements of the Corporation for the Financial Year ended 31 March 2021 together with the Report of the Auditors thereon.
3. To declare a dividend on the Equity Shares for the Financial Year 2020-21.
4. To resolve not to fill vacancy in place of the retiring director Mr. Jehangir N Wadia (DIN: 00088831), who has not offered himself for re-appointment in terms of Section 152 of the Companies Act, 2013.
   To consider and if thought fit, to convey assent or dissent to the following Ordinary Resolution:
   "RESOLVED THAT pursuant to the provisions of Section 152 of the Companies Act, 2013 read with the rules made thereunder and other applicable provisions of the Companies Act, 2013, the Corporation do and hereby resolve not to fill the vacancy arising from retirement of Mr. Jehangir N Wadia (DIN: 00088831), Non-Executive Director, who has not offered himself for re-appointment."
5. To consider and if thought fit, to convey assent or dissent to the following Ordinary Resolution:
   "RESOLVED THAT the Board of Directors be and are hereby authorised to appoint for the current financial year, in consultation with the Corporation's Auditors, in respect of the audit of the accounts of the Corporation's branch offices outside India, a person who is either qualified for appointment as auditor of the Corporation under Section 141 and other applicable provisions, if any, of the Companies Act, 2013 or an accountant duly qualified to act as an auditor of the accounts of such branch offices in accordance with the applicable laws of the concerned countries; and to determine the remuneration and other terms and conditions of their appointment as Branch Auditors as recommended by the Audit
   Committee."

SPECIAL BUSINESS:

5. Ratification of the remuneration payable to the Cost Auditors of the Corporation for the Financial Year ending 31 March 2022

To consider and if thought fit, to convey assent or dissent to the following Ordinary Resolution:

"RESOLVED THAT pursuant to the provisions of Section 148 and other applicable provisions, if any, of the Companies Act, 2013, read with the Companies (Audit and Auditors) Rules, 2014 (including any statutory modification or re-enactment thereof, for the time being in force), M/s. GLS & Associates, Cost Accountants, Coimbatore, [ICWA Registration No. 4482],

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