Aditya Birla: (East)

ADITYA BIRLA
CENTURY
SH/Xll/2023 03n1 July, 2023

Corporate Relationship Department Listing Department
BSEUmlted. National Stock Exchange oflndla Limited
1st Floor, Phiroze Jeejeebhoy Towers Exchange Plaza, 5th floor,
Dalal Street, Fort, Bandra-Kurla Complex
Mumbai--400 001 Bandra (East), Mumbai-400 051.
ScripCode:500040/973812/974S71/947877 Scrip Code: CENTURYTEX
Dear Sir/Madam,
Sub: Notice of 126th Annual General Meeting and Integrated. Annual Report for the year
2022-23 of Century Textiles and Industries Umlted ('the CompanY1
Ref: Regulations 34(1) & 53(2) of Securities and Exchange Board of India (Listing
Obligations and Disclosure Requirements) Regulations, 2015 ('Listing
Regulatlons1
(ISIN: INEOSSA01016, INEOSSA07104, INEOSSA08029 & INEOSSA08037)
Pursuant to Regulations 34(1) & 53(2) of Listing Regulations, please find attached herewith Notice
convening the 126th Annual General Meeting fAGM') and the Integrated Annual Report of the
Company for the financial year 2022-23, which will be circulated to the shareholders through
electronic mode whose email IDs are registered with the Company / Registrar and Share Transfer
Agent and the Depositories.
The Notice of 126th AGM and Integrated Annual Report are also available on the Company's website
i.e. www.centuiytextind.com,
The above is for your information and record.
Thanking you,
Yours truly,
For CENTURY TEXTILES AND INDUSTRIES LIMITED
ATULKUMAR Digitally
ATULKUMAR
signed by
MOHANLAL MOHANLAL KEDIA

Date: 2023.07.03
KEDIA 17:59:21 +05'30'
ATUL K. KEDIA
Sr. Vice President (Legal) & Company Secretary
Encl: as attached
Cc:
National Central Link lntlme SBICAP Trustee Axis Trustee
Securities Depository India Private Company Services
Depository Services (India) Umlted Limited Limited
Limited. Limited (Registrar and (Debenture (Debenblre
(Depository) (Depository) Share Transfer Trustee) Trustee)
Trade World, 'A' Marathon Agent) Mistry Bhavan, The Ruby,
wing, 4th Floor, Futurex, A-wing, C-101, 247 park. 4 th Floor, 122 2nd Floor,
Kamala Mills 25th Floor, N.M. L.B.S. Marg, Dinshaw Vachha SW29, Senapati
Compound, Lower Joshi Marg, Vikhroli (West), Road, Churchgate, Bapat Marg I,
Pare), Mumbai- LowerPareL Mumbai- Mumbai - 400 Dadar West,
400 013. Mumbai - 400 400 083. 020. Mumbai - 400
013. 028
Century Texti les and Indu stri es Li m ited

Regd. Office: Century Bhavan, Dr. Annie Besant Road, Worli, Mumbai 400 030, India.
T: +91 22 2495 7000 IF: +91 22 2430 9491 / 24361980
E: ctil.ho@adityabirla.comIW:www.centurytextind.com
Corporate ID No.: L17120MH1897PLC000163
CENTURY TEXTILES AND INDUSTRIES LIMITED
Registered Office: Century Bhavan, Dr. Annie Besant Road, Worli, Mumbai 400030.
Phone: +91-022-24957000 Fax: +91-22-24309491, +91-22-24361980
www.centurytextind.com Email: ctil.secretary@adityabirla.com
CIN: L17120MH1897PLC000163
NOTICE OF 126TH ANNUAL GENERAL MEETING
NOTICE is hereby given that the 126th Annual General Meeting (‘AGM’) of the Shareholders of the Company will be held on
Thursday, the 27th July, 2023 at 02:30 p.m. IST through Video Conferencing (‘VC’)/Other Audio Visual Means (‘OAVM’) to
transact the following business:
ORDINARY BUSINESS:
1. To receive, consider and adopt:
a) the Audited Standalone Financial Statements of the Company for the financial year ended 31st March, 2023 and the
Reports of the Board of Directors and Auditors thereon; and
b) the Audited Consolidated Financial Statements of the Company for the financial year ended 31st March, 2023 and the
Report of Auditors thereon.
2. To declare dividend on equity shares of the Company for the year ended 31st March, 2023.
SPECIAL BUSINESS:
3. To appoint a Director in place of Smt. Rajashree Birla (holding DIN: 00022995) who retires from office by rotation, but
being eligible, offered herself for re-appointment and in this regard, to consider and, if thought fit, to pass the following
Resolution as a Special Resolution:
“RESOLVED THAT pursuant to Section 152 and other applicable provisions, if any, of the Companies Act, 2013 read with
the Companies (Appointment and Qualification of Directors) Rules, 2014, and Articles of Association of the Company
and Regulation 17(1A) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015 (including any statutory modification, amendment, substitution or re-enactment in the foregoing for
the time being in force), consent of the members of the Company be and is hereby accorded to the reappointment of Smt.
Rajashree Birla (holding DIN: 00022995), who has attained the age of 77 (seventy-seven) years and retires from office
by rotation and being eligible, offered herself for reappointment as a Director of the Company, liable to retire by rotation.
RESOLVED FURTHER THAT the Board of Directors of the Company (including any Committee thereof) be and is hereby
authorised to do all such acts, deeds and things and take all such steps as may be necessary, proper or expedient to give
effect to this resolution.”
4. To consider and approve amendments to Article 73(i) of Articles of Association of the Company and in this regard, to
consider and, if thought fit, to pass the following Resolution as a Special Resolution:
“RESOLVED THAT pursuant to the provisions of Sections 5 and 14 and other applicable provisions, if any, of the
Companies Act, 2013 (“the Act”) and applicable rules framed thereunder (including any statutory modification(s) or
amendment(s) thereto or re-enactment thereof for the time being in force) read with Regulation 23(6) of SEBI (Issue
and Listing of Non-Convertible Securities) Regulations, 2021 as amended and all other laws, acts, rules, regulations,
guidelines, circulars, directions and notifications issued by the regulatory authorities as applicable from time to time,
the consent of Members of the Company be and is hereby accorded for amendments in Article 73(i) of Articles of
Association of the Company as under:
i) Deletion of the words:
The words “on a poll” in the last line of the existing 2nd paragraph of Article 73(i) be deleted;
ii) Insertion of proviso after the end of existing 3rd paragraph of Article 73(i) of Articles of Association of the Company:
“Provided that, on receipt of communication from the Debenture Trustee of the proposed nomination of any person
as a director on the Board of the Company, pursuant to clause (e) of Sub-Regulation (1) of Regulation 15 of the
Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993, the Board of Directors shall appoint
such a person as Nominee Director on the Board of Directors of the Company.”
CENTURY TEXTILES AND INDUSTRIES LIMITED 1

iii) Addition of comma and the words:
Comma and the words as follows :- “, Debenture Trustee” be added after the word “Corporation” as appearing in line
nos. 3 and 7 of the existing 4th paragraph of Article 73(i).
5. To approve the remuneration of the Cost Auditors for the financial year ending 31st March, 2024 and in this regard, to
consider and, if thought fit, to pass the following Resolution as an Ordinary Resolution:
“RESOLVED THAT pursuant to the provisions of Section 148 and other applicable provisions, if any, of the Companies
Act, 2013 and the Companies (Audit and Auditors) Rules, 2014, (including any statutory modification(s) or re-enactment
thereof for the time being in force), M/s. R. Nanabhoy & Co., being the Cost Auditor appointed by the Board of Directors of
the Company to conduct the cost audit for the financial year ending 31st March, 2024, be paid the remuneration (apart from
Goods and Services Tax as applicable, or such other taxes as may be made applicable in lieu thereof, and reimbursement
of actual travel and out-of-pocket expenses) as per details given below:
Name of the Name of the Manufacturing Units and their Name of the Cost Auditors Remuneration
Industry locations (` in lacs)
Textiles Birla Century, Gujarat

M/s. R. Nanabhoy & Co. 1.49
Paper Century Pulp and Paper, Uttarakhand
NOTES FOR MEMBERS’ ATTENTION

1. Ministry of Corporate Affairs (MCA) has vide its General Circular no. 10/2022 dated 28th December, 2022 regarding
“Clarification of holding of Annual General Meeting (AGM) through Video Conference (VC) or Other Audio Visual Means
(OAVM)-reg” along with other relevant General Circulars issued by the Ministry of Corporate Affairs (“MCA”) (hereinafter
referred to as “MCA Circulars”) from time to time permitted the Companies whose AGMs are due in the year 2023,
to conduct their AGMs up to 30th September, 2023 through VC/OAVM, without the physical presence of the members
at a common venue and also provided relaxation from dispatching of physical copies of Notice of AGM and Financial
Statements for year 2023 and considering the above MCA Circulars, Securities and Exchange Board of India (SEBI) vide
its circular no. SEBI/HO/CFD/PoD-2/P/CIR/2023/4 dated 05th January, 2023 in respect of “Relaxation from compliance
with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 -Reg.” (‘SEBI
Circular’) provided relaxation up to 30th September, 2023 relating to the requirements specified in Regulation 36(1)(b) of
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI Listing Regulations’) which requires
sending hard copy of the Annual Report containing salient features of all the documents prescribed in Section 136 of the
Companies Act, 2013 (‘Act’) to the Shareholders who have not registered their email addresses. In compliance with the
MCA Circulars and SEBI Circular, the AGM of the members of the Company is being held through VC/OAVM.
2. Normally- PURSUANT TO THE PROVISIONS OF THE ACT, A MEMBER ENTITLED TO ATTEND AND VOTE AT THE AGM
IS ENTITLED TO APPOINT A PROXY TO ATTEND AND VOTE INSTEAD OF HIMSELF AND THE PROXY NEED NOT BE A
MEMBER OF THE COMPANY.
Since this AGM is being held pursuant to MCA Circulars and SEBI Circular through VC/OAVM, physical attendance of
Members has been dispensed with. Accordingly, the facility for the appointment of proxies by the Members will not be
available for the AGM and hence the Proxy Form, Attendance Slip and Route Map are not annexed to the Notice.
3. In accordance with the Secretarial Standard - 2 on General Meetings issued by the ICSI read with Clarification/Guidance
on applicability of Secretarial Standards - 1 and 2 issued by the ICSI, the proceedings of the AGM through VC/OAVM shall
be deemed to be conducted at the Registered Office of the Company at Century Bhavan, Dr. Annie Besant Road, Worli,
Mumbai - 400 030.
4. In compliance with the aforesaid MCA circulars and SEBI circular, Notice of the AGM along with Annual Report 2022-23
is being sent only through electronic mode to those members whose email addresses are registered with the Company/
Depositories. Members may note that the Notice and the Annual Report 2022-23 will also be available on the following
websites:
2 CENTURY TEXTILES AND INDUSTRIES LIMITED

Particulars Website
Century Textiles and Industries Limited www.centurytextind.com
BSE Limited www.bseindia.com
National Stock Exchange of India Limited www.nseindia.com
National Securities Depository Limited (NSDL) www.evoting.nsdl.com

5. The Explanatory Statement pursuant to Section 102(1) of the Act in respect of item nos. 3, 4 & 5 of the Notice set out
above, is hereto annexed. The relevant details under Regulation 36(3) of the SEBI Listing Regulations and other requisite
information as per clause 1.2.5 of Secretarial Standard - 2 on General Meetings in respect of the Directors seeking
appointment/re-appointment at the Annual General Meeting, forms part of the Notice. The Directors have furnished the
requisite declarations for his/her appointment/re-appointment.
6. Members attending the AGM through VC/OAVM shall be counted for the purpose of reckoning the quorum under Section
103 of the Act.
7. In case of joint holders, the member whose name appears as the first holder in the order of names as per the Register of
Members of the Company will be entitled to vote at the AGM.
8. Members are requested to send all their documents and communications pertaining to shares to Link Intime India Private
Limited (‘LIIPL’), Share Transfer Agent of the Company at their address at C 101, 247 Park, L B S Marg, Vikhroli (West),
Mumbai - 400 083 (Maharashtra) Telephone No. - 8108116767, Fax No. 022 - 4918 6060 for both physical and demat
segments of Equity Shares.
Please quote on all such correspondence: “Unit - Century Textiles and Industries Limited.”
For Shareholders queries :

Telephone No. : 8108116767
Email ID : rnt.helpdesk@linkintime.co.in.
9. The Registers of Members and Transfer Books of the Company in respect of the Equity Shares of the Company will remain
closed from Tuesday, the 18th July, 2023, to Thursday, the 27th July, 2023, both days inclusive.
10. If the dividend, as recommended by the Board of Directors, is approved at the AGM, payment of such dividend subject to
deduction of tax at source will be made on or after Tuesday, the 01st August, 2023, as under:
a. To all Beneficial Owners in respect of shares held in dematerialized form as per the data as may be made available
by the National Securities Depository Limited (‘NSDL’) and the Central Depository Services (India) Limited (‘CDSL’),
collectively ‘Depositories’, as of the close of business hours on Monday, the 17th July, 2023.
b. To all Members in respect of shares held in physical form after giving effect to valid transmission or transposition
requests lodged with the Company as of the close of business hours on Monday, the 17th July, 2023.
11. Pursuant to Finance Act, 2020, dividend income is taxable in the hands of shareholders w.e.f. 01st April, 2020, and the
Company is required to deduct tax at source from the dividend paid to shareholders at the prescribed rates. For the
prescribed rates for various categories, the shareholders are requested to refer to the Finance Act, 2020 and amendments
thereof. The shareholders are requested to update their PAN with the Company/RTA (in case of shares held in physical
mode) and Depository Participants (‘DP’) (in case of shares held in electronic mode).
A Resident Individual shareholder with PAN and who is not liable to pay income tax can submit a yearly declaration in
Form No. 15G/15H, to avail the benefit of non-deduction of tax at source by email to ctil.investorrelations@adityabirla.
com by 11:59 p.m. IST on Wednesday, the 12th July, 2023. Shareholders are requested to note that in case their PAN is not
registered, the tax will be deducted at a higher rate of 20%.
Non-resident shareholders can avail beneficial rates under a tax treaty between India and their country of residence,
subject to providing necessary documents i.e. No Permanent Establishment and Beneficial Ownership Declaration, Tax
Residency Certificate, Form 10F, any other document which may be required to avail the tax treaty benefits. For this
purpose the shareholders may submit the above documents (PDF/JPG Format) by e-mail to ctil.investorrelations@
adityabirla.com. The aforesaid declarations and documents need to be submitted by the shareholders by 11:59 p.m. IST
on Wednesday, the 12th July, 2023.
12. Members seeking any information about the financial statements or any matter to be placed at the AGM are requested to
write to the Company on or before Friday, the 21st July, 2023, through e-mail on ctil.investorrelations@adityabirla.com.
The same will be replied by the Company suitably.

13. The Register of Directors and Key Managerial Personnel and their shareholding maintained under Section 170 of the Act,
the Register of Contracts or Arrangements in which the Directors are interested under Section 189 of the Act, the Register
of Charges as maintained under Section 85 of the Act, Certificate from Secretarial Auditor of the Company certifying that
the ESOP scheme of the Company is being implemented in accordance with the Securities and Exchange Board of India
(Share Based Employee Benefits and Sweat Equity) Regulations, 2021 and the existing Articles of Association along with
the Articles of Association amended as per the proposed amendments and other relevant documents referred to in this
Notice will be available electronically for inspection by the members during the 126th AGM.
All documents referred to in the Notice will also be available electronically for inspection without any fee by the Members
from the date of circulation of this Notice up to the date of 126th AGM. Members seeking to inspect such documents can
send an email to ctil.investorrelations@adityabirla.com.
14. It is observed that few members have still not surrendered their old Share Certificates for Equity Shares of ` 100/- each
for exchange with the new Share Certificates for Equity Shares of ` 10/- each. They are once again requested to surrender
the old Share Certificates for Equity Shares of ` 100/- each at the Registered Office of the Company so as to enable the
Company to do the needful.
15. As per the provisions of Section 72 of the Act the facility for making/varying/cancelling nominations is available to
individuals holding shares in the Company. Nominations can be made in Form SH-13 and any variation/cancellation
thereof can be made by giving notice in Form SH-14, as prescribed under the Companies (Share Capital and Debentures)
Rules, 2014. The Forms can be obtained from the website of the Company i.e. www.centurytextind.com or Share Transfer
Agent website viz. www.linkintime.co.in or from the Website of the Ministry of Corporate Affairs at www.mca.gov.in.
Members are requested to submit the said form to their respective DPs in case the shares are held in electronic form and
to LIIPL in case the shares are held in physical form.
16. Pursuant to SEBI Circular no. SEBI/HO/MIRSD/MIRSDPoD-1/P/CIR/2023/37 dated 16th March, 2023, issued in
supersession of earlier circulars issued by SEBI bearing nos. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2021/655 and
SEBI/HO/MIRSD/MIRSDRTAMB/P/CIR/2021/687 dated 03rd November, 2021 and 14th December, 2021, respectively,
SEBI has mandated all listed companies to record PAN, Nomination, Contact details, Bank Account details and specimen
Signature for their corresponding folio numbers of holders of physical securities. The folios wherein any one of the cited
documents/details is not available on or after 01st October, 2023, shall be frozen by the RTA. The security holder(s) whose
folio(s) frozen shall be eligible:
i. To lodge any grievance or avail of any service request from RTA, only after furnishing the complete documents/
details as mentioned above;
ii. To receive any payment including dividend, interest or redemption amount (which would be only through electronic
mode w.e.f. 01st April, 2024) only after compliance with the above stated requirements.
The forms for updation of PAN, KYC, bank details and Nomination viz., Forms ISR-1, ISR-2, ISR-3, SH-13 and the said
SEBI circular are available on Company’s website i.e. www.centurytextind.com. In view of the above, we urge Members
holding shares in physical form to submit the required forms along with the supporting documents at the earliest. The
Company has dispatched a letter to the Members holding shares in physical form in relation to the above referred SEBI
Circular vide letter dated 29th May, 2023. Members who hold shares in dematerialised form and wish to update their PAN,
KYC, Bank details and Nomination, are requested to contact their respective DPs.
Further, Shareholders holding shares in physical form are requested to ensure that their PAN is linked to Aadhaar to avoid
freezing of folios. Such frozen folios shall be referred by RTA/Company to the administering authority under the Benami
Transactions (Prohibitions) Act, 1988 and/or Prevention of Money Laundering Act, 2002, if the securities continue to
remain frozen as on 31st December, 2025.
17. In terms of Regulation 40(1) of the SEBI Listing Regulations, as amended, securities of listed companies can be transferred
only in dematerialised form with effect from 01st April, 2019. Members may please note that SEBI vide its Circular No.
SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2022/8 dated 25th January, 2022, has mandated Listed Companies to issue
securities in demat form only while processing service requests viz. Issue of duplicate securities certificate; claim from
Unclaimed Suspense Account; Renewal/Exchange of securities certificate; Endorsement; Sub-division of securities
certificate; Consolidation of securities certificates/folios; Transmission and Transposition. Accordingly, Members are
requested to make service requests by submitting a duly filled and signed Form ISR- 4, the format of which is available
on the Company’s website i.e. www.centurytextind.com and on the website of the Company’s RTA i.e. www.linkintime.
co.in . It may be noted that any service request can be processed only after the folio is KYC compliant. Further, SEBI vide
its notification dated 24th January, 2022, has also mandated that all requests for transmission and transposition shall be
processed only in dematerialised form. In view of the same and to eliminate all risks associated with physical shares and

avail various benefits of dematerialisation, Members are advised to dematerialise the shares held by them in physical
form. Members can contact the Company or RTA for assistance in this regard.
18. The Company pursuant to Regulation 39 read with Schedule VI of the SEBI Listing Regulations has already sent a
reminder to the Shareholders to claim unexchanged/undelivered share certificates lying with the Company failing which
the unclaimed share certificates lying in physical form shall be transferred in dematerialised form to and held in Unclaimed
Suspense Account.
19. Pursuant to Rule 5(8) of Investor Education and Protection Fund Authority (Accounts, Audit, Transfer and Refund) Rules,
2016, (‘IEPF Rules’) the Company has uploaded details of unpaid and unclaimed amounts lying with the Company as on
31st March, 2022 on the website of the Company www.centurytextind.com.
20. Pursuant to the provisions of Sections 124 and 125 of the Act, the dividends for the financial year ended 31st March,
2016 and thereafter, which remain unpaid or unclaimed for a period of seven years will be transferred to the Investor
Education and Protection Fund (‘IEPF’) constituted by the Central Government. Members, who have not encashed their
dividend warrant(s) for the financial year ended 31st March, 2016 or any subsequent financial year(s) are requested
to claim such amount from the Secretarial Department of the Company or from the Share Transfer Agent. The due
date for transfer of the unclaimed dividend amount for the financial year ended 31st March, 2016 to IEPF of the Central
Government is 26th August, 2023.
21. Pursuant to the provisions of Section 124(6) of the Act and IEPF Rules as amended from time to time, shares in respect of
which dividends have not been encashed for seven consecutive years or more are required to be transferred to IEPF. The
Company has sent individual notice on 11th May, 2023 to all the concerned shareholders intimating them the particulars
of equity shares due for transfer. These details are also available on the Company’s website viz. www.centurytextind.
com. Advertisement in newspapers in this respect has also been published in English language and regional language i.e.
Marathi on 01st June, 2023. Shareholders are requested to claim the unclaimed dividend well before the due date i.e. 26th
August, 2023. If unclaimed dividends are not claimed by the Shareholders, shares covered by such unclaimed dividends
will be transferred to IEPF. It may be noted that no claim shall lie against the Company in respect of shares so transferred
to IEPF. Upon transfer, the shareholders will be able to claim these equity shares only from the IEPF authority as per the
procedure prescribed under IEPF Rules, the details of which are available at www.iepf.gov.in.
22. Members holding shares in the same name under different Ledger Folios are requested to apply for consolidation of such
Folios and send the relevant share certificates to LIIPL for their doing the needful.
23. To prevent fraudulent transactions, members are advised to exercise due diligence and notify the Company of any change
in address and demise of any member as soon as possible. SEBI has made it mandatory for all companies to use the bank
account details furnished by the Shareholders/Depositories for depositing of dividends. NECS Form can be downloaded
from Company’s website i.e. www.centurytextind.com for providing details, if not already provided. Members can register/
update the contact details through Form ISR-1. Members are also advised to not leave their demat account(s) dormant
for long. Periodic statement of holdings should be obtained from the concerned DP and holdings should be verified from
time to time.
24. Members are requested to intimate changes, if any, pertaining to their Name, Postal Address, E-mail Address, Telephone/
Mobile numbers, Permanent Account Number (PAN), Mandates, Nominations, Power of Attorney, Bank details such as
Name of the Bank and Branch details, Bank Account Number, MICR code, IFSC code etc., to their DPs in case the shares
held by them are in electronic form and to LIIPL in case of shares held by them in physical form.
25. To support the ‘Green Initiative’, Members who have not yet registered their email addresses are requested to register the
same with their DP in case the shares are held by them in electronic form and with LIIPL in case the shares are held by
them in physical form.
THE INSTRUCTIONS FOR MEMBERS FOR REMOTE E-VOTING AND JOINING ANNUAL GENERAL MEETING ARE AS UNDER:-
I. In compliance with the provisions of Section 108 of the Act, Rule 20 of the Companies (Management and Administration)
Rules, 2014 as amended from time to time, and Regulation 44 of the SEBI Listing Regulations and in terms of SEBI
circular no. SEBI/HO/CFD/CMD/CIR/P/2020/242 dated 09th December, 2020, in relation to e-voting facility provided by
listed entities, the Company is pleased to provide to the members the facility to exercise their right to vote on resolutions
proposed to be considered at the AGM, by electronic means and the business may be transacted through e-voting
Services. For this purpose, the Company has entered into an agreement with National Securities Depository Limited
(NSDL) for facilitating voting through electronic means, as the authorized agency. The facility of casting the votes by the
members using an electronic voting system from a place other than the venue of the AGM (‘remote e-voting’) as well as
e-voting on the date of AGM will be provided by NSDL.

II. The members who have cast their vote by remote e-voting prior to the AGM may also attend/participate in the AGM
through VC/OAVM but shall not be entitled to cast their vote again.
III. The remote e-voting period commences on Sunday, the 23rd July, 2023 (09:00 a.m. IST) and ends on Wednesday, the
26th July, 2023 (05:00 p.m. IST). During this period Members of the Company, holding shares either in physical form or
in dematerialized form, as on the cut-off date of Thursday, the 20th July, 2023, may cast their vote by remote e-voting.
The remote e-voting module shall be disabled by NSDL for voting thereafter. Once the vote on a resolution is cast by the
Member, the Member shall not be allowed to change it subsequently. Those Members, who will be present in the AGM
through VC/OAVM facility and have not cast their vote on the Resolutions by remote e-voting and are otherwise not barred
from doing so, shall be eligible to vote through e-voting system during the AGM.
IV. The facility of joining the AGM through VC/OAVM shall open 30 minutes before the time scheduled for the AGM and will
be available for members on first-cum-first served basis and members can join by following the procedure mentioned in
the Notice.
V. How do I vote electronically using NSDL e-voting system?
The way to vote electronically on NSDL e-voting system consists of “Two Steps” which are mentioned below:
Step 1: Access to NSDL e-voting system
A. Login method for e-voting and joining virtual meeting for Individual shareholders holding securities in demat
mode
In terms of SEBI Circular dated 09th December, 2020 on e-voting facility provided by Listed Companies, Individual
shareholders holding securities in demat mode are allowed to vote through their demat account maintained with
Depositories and Depository Participants. Shareholders are advised to update their mobile number and email Id in
their demat accounts in order to access e-voting facility.
Login method for Individual shareholders holding securities in demat mode is given below:
Type of shareholders Login Method

Individual Shareholders 1. Existing IDeAS user can visit the e-Services website of NSDL viz. https://eservices.
holding securities in nsdl.com either on a Personal Computer or on a mobile. On the e-Services home
demat mode with NSDL. page click on the “Beneficial Owner” icon under “Login” which is available under
‘IDeAS’ section, this will prompt you to enter your existing User ID and Password.
After successful authentication, you will be able to see e-voting services under Value
added services. Click on “Access to e-Voting” under e-voting services and you will
be able to see e-Voting page. Click on company name or e-Voting service provider
i.e. NSDL and you will be re-directed to e-voting website of NSDL for casting your
vote during the remote e-voting period or joining virtual meeting & voting during the
meeting.
2. If you are not registered for IDeAS e-Services, option to register is available at
https://eservices.nsdl.com. Select “Register Online for IDeAS Portal” or click at
https://eservices.nsdl.com/SecureWeb/IdeasDirectReg.jsp
3. Visit the e-voting website of NSDL. Open web browser by typing the following URL:
https://www.evoting.nsdl.com/ either on a Personal Computer or on a mobile. Once
the home page of e-voting system is launched, click on the icon “Login” which is
available under ‘Shareholder/Member’ section. A new screen will open. You will have
to enter your User ID (i.e. your sixteen digit demat account number held with NSDL),
Password/OTP and a Verification Code as shown on the screen. After successful
authentication, you will be redirected to NSDL Depository site wherein you can see
e-voting page. Click on company name or e-Voting service provider i.e. NSDL and
you will be redirected to e-Voting website of NSDL for casting your vote during the
remote e-Voting period or joining virtual meeting & voting during the meeting.

Type of shareholders Login Method
4. Shareholders/Members can also download NSDL Mobile App “NSDL Speede”
facility by scanning the QR code mentioned below for seamless voting experience.
Individual Shareholders 1. Users who have opted for CDSL Easi/Easiest facility, can login through their existing
holding securities in user id and password. Option will be made available to reach e-voting page without
demat mode with CDSL any further authentication. The users to login Easi/Easiest are requested to visit
CDSL websites www.cdslindia.com and click on login icon & New System Myeasi
Tab and then use your existing my easi username & password.
2. After successful login the Easi/Easiest user will be able to see the e-voting option for
eligible companies where the e-voting is in progress as per the information provided
by the Company. On clicking the e-voting option, the user will be able to see e-voting
page of the e-voting service provider for casting your vote during the remote e-voting
period or joining virtual meeting & voting during the meeting. Additionally, there is
also links provided to access the system of all e-voting Service Providers, so that
the user can visit the e-voting service providers website directly.
3. If the user is not registered for Easi/Easiest, option to register is available at CDSL
website www.cdslindia.com and click on login & New System Myeasi Tab and then
click on registration option.
4. Alternatively, the user can directly access e-voting page by providing Demat Account
Number and PAN No. from a e-voting link available on www.cdslindia.com home
page. The system will authenticate the user by sending OTP on registered Mobile &
Email as recorded in the Demat Account. After successful authentication, user will
be able to see the e-voting option where the e-voting is in progress and also able to
directly access the system of all e-voting Service Providers.
Individual Shareholders You can also login using the login credentials of your demat account through your
(holding securities in Depository Participant registered with NSDL/CDSL for e-voting facility. Upon logging in,
demat mode) login you will be able to see e-voting option. Click on e-voting option, you will be redirected
through their depository to NSDL/CDSL Depository site after successful authentication, wherein you can see
participants e-voting feature. Click on company name or e-voting service provider i.e. NSDL and you
will be redirected to e-voting website of NSDL for casting your vote during the remote
e-voting period or joining virtual meeting & voting during the meeting.
Important note: Members who are unable to retrieve User ID/Password are advised to use Forgot User ID and Forgot
Password option available at abovementioned website.
Helpdesk for Individual Shareholders holding securities in demat mode for any technical issues related to login
through Depository i.e. NSDL and CDSL.
Login type Helpdesk details

Individual Shareholders Members facing any technical issue in login can contact NSDL helpdesk by sending
holding securities in demat a request at evoting@nsdl.co.in or call at 022 - 4886 7000 and 022 - 2499 7000
mode with NSDL
Individual Shareholders Members facing any technical issue in login can contact CDSL helpdesk by
holding securities in demat sending a request at helpdesk.evoting@cdslindia.com or contact at toll free no.
mode with CDSL 1800 22 55 33

B. Login Method for e-voting and joining virtual meeting for shareholders other than Individual shareholders holding
securities in demat mode and shareholders holding securities in physical mode.
How to Log-in to NSDL e-voting website?

1. Visit the e-voting website of NSDL. Open web browser by typing the following URL: https://www.evoting.nsdl.
com/ either on a Personal Computer or on a mobile.
2. Once the home page of e-voting system is launched, click on the icon “Login” which is available under
‘Shareholder/Member’ section.
3. A new screen will open. You will have to enter your User ID, your Password/OTP and a Verification Code as
shown on the screen.
Alternatively, if you are registered for NSDL eservices i.e. IDEAS, you can log-in at https://eservices.nsdl.com/ with
your existing IDEAS login. Once you log-in to NSDL eservices after using your log-in credentials, click on e-voting
and you can proceed to Step 2 i.e. Cast your vote electronically.
4. Your User ID details are given below :
Manner of holding shares i.e. Demat Your User ID is:

(NSDL or CDSL) or Physical
a) For Members who hold shares in 8 Character DP ID followed by 8 Digit Client ID
demat account with NSDL. For example if your DP ID is IN300*** and Client ID is 12****** then
your user ID is IN300***12******.
b) For Members who hold shares in 16 Digit Beneficiary ID
demat account with CDSL. For example if your Beneficiary ID is 12************** then your
user ID is 12**************
c) For Members holding shares in EVEN Number followed by Folio Number registered with the
Physical Form. Company
For example if folio number is 001*** and EVEN is 101456 then
user ID is 101456001***
5. Password details for shareholders other than Individual shareholders are given below:
a. If you are already registered for e-voting, then you can use your existing password to login and cast your
vote.
b. If you are using NSDL e-voting system for the first time, you will need to retrieve the ‘initial password’
which was communicated to you. Once you retrieve your ‘initial password’, you need to enter the ‘initial
password’ and the system will force you to change your password.
c. How to retrieve your ‘initial password’?
i. If your email ID is registered in your demat account or with the company, your ‘initial password’ is
communicated to you on your email ID. Trace the email sent to you from NSDL from your mailbox.
Open the email and open the attachment i.e. a .pdf file. Open the .pdf file. The password to open
the .pdf file is your 8 digit client ID for NSDL account, last 8 digits of client ID for CDSL account or
folio number for shares held in physical form. The .pdf file contains your ‘User ID’ and your ‘initial
password’.
ii. If your email ID is not registered, please follow steps mentioned below in process for those
shareholders whose email ids are not registered.
6. If you are unable to retrieve or have not received the “Initial password” or have forgotten your password:
a) Click on “Forgot User Details/Password?” (If you are holding shares in your demat account with NSDL or
CDSL) option available on www.evoting.nsdl.com.
b) “Physical User Reset Password?” (If you are holding shares in physical mode) option available on www.
evoting.nsdl.com.
c) If you are still unable to get the password by aforesaid two options, you can send a request at evoting@
nsdl.co.in mentioning your demat account number/folio number, your PAN, your name and your registered
address etc.
d) Members can also use the OTP (One Time Password) based login for casting the votes on the e-voting
system of NSDL.

7. After entering your password, tick on Agree to “Terms and Conditions” by selecting on the check box.
8. Now, you will have to click on “Login” button.
9. After you click on the “Login” button, Home page of e-voting will open.
Step 2: Cast your vote electronically and join General Meeting on NSDL e-voting system:
How to cast your vote electronically and join General Meeting on NSDL e-voting system?
1. After successful login at Step 1, you will be able to see all the companies “EVEN” in which you are holding shares and
whose voting cycle and General Meeting is in active status.
2. Select “EVEN” of Company for which you wish to cast your vote during the remote e-Voting period and casting your
vote during the General Meeting. For joining virtual meeting, you need to click on “VC/OAVM” link placed under “Join
Meeting”.
3. Now you are ready for e-voting as the voting page opens.
4. Cast your vote by selecting appropriate options i.e. assent or dissent, verify/modify the number of shares for which
you wish to cast your vote and click on “Submit” and also “Confirm” when prompted.
5. Upon confirmation, the message “Vote cast successfully” will be displayed.
6. You can also take the printout of the votes cast by you by clicking on the print option on the confirmation page.
7. Once you confirm your vote on the resolution, you will not be allowed to modify your vote.
General Guidelines for shareholders:

1. Institutional shareholders (i.e. other than individuals, HUF, NRI etc.) are required to upload their Board Resolution/
Power of Attorney/Authority Letter etc. by clicking on “Upload Board Resolution/Authority Letter” displayed under
“e-Voting” tab in their login or send scanned copy (PDF/JPG Format) of the relevant Board Resolution/Authority
letter etc. with attested specimen signature of the duly authorized signatory(ies) who are authorized to vote, to the
Scrutinizer by e-mail to gbgagrani@gmail.com with a copy marked to evoting@nsdl.co.in.
2. It is strongly recommended not to share your password with any other person and take utmost care to keep your
password confidential. Login to the e-voting website will be disabled upon five unsuccessful attempts to key in the
correct password. In such an event, you will need to go through the “Forgot User Details/Password?” or “Physical
User Reset Password?” option available on www.evoting.nsdl.com to reset the password.
3. In case of any queries, you may refer the Frequently Asked Questions (FAQs) for Shareholders and e-voting user
manual for Shareholders available at the download section of www.evoting.nsdl.com or call on.: 022 - 4886 7000 and
022 - 2499 7000 or send a request to Mr. Anubhav Saxena, Assistant Manager - NSDL at evoting@nsdl.co.in
Process for those shareholders whose email ids are not registered with the depositories for procuring user id and
password and registration of e mail ids for e-voting for the resolutions set out in this notice:
1. In case shares are held in physical mode please provide Folio No., Name of shareholder, scanned copy of the share
certificate (front and back), PAN (self attested scanned copy of PAN card), AADHAR (self attested scanned copy of
Aadhar Card) by email to ctil.investorrelations@adityabirla.com.
2. In case shares are held in demat mode, please provide DPID-CLID (16 digit DPID + CLID or 16 digit beneficiary
ID), Name, client master or copy of Consolidated Account statement, PAN (self attested scanned copy of PAN
card), AADHAR (self attested scanned copy of Aadhar Card) to ctil.investorrelations@adityabirla.com. If you are an
Individual shareholder holding securities in demat mode, you are requested to refer to the login method explained at
step 1 (A) i.e. Login method for e-voting and joining virtual meeting for Individual shareholders holding securities
in demat mode.
3. Alternatively, shareholder/members may send a request to evoting@nsdl.co.in for procuring user id and password
for e-voting by providing above mentioned documents.
4. In terms of SEBI Circular dated 09th December, 2020 on e-voting facility provided by Listed Companies, Individual
shareholders holding securities in demat mode are allowed to vote through their demat account maintained with
Depositories and Depository Participants. Shareholders are required to update their mobile number and email ID
correctly in their demat account in order to access e-voting facility.

THE INSTRUCTIONS FOR MEMBERS FOR E-VOTING ON THE DAY OF THE AGM ARE AS UNDER:
1. The procedure for e-voting on the day of the AGM is same as the instructions mentioned above for remote e-voting.
2. Only those Members/Shareholders, who will be present in the AGM through VC/OAVM facility and have not casted
their vote on the Resolutions through remote e-voting and are otherwise not barred from doing so, shall be eligible to
vote through e-voting system in the AGM.
3. Members who have voted through remote e-voting will be eligible to attend the AGM. However, they will not be
eligible to vote at the AGM.
4. The details of the person who may be contacted for any grievances connected with the facility for e-voting on the day
of the AGM shall be the same person mentioned for remote e-voting.
INSTRUCTIONS FOR MEMBERS FOR ATTENDING THE AGM THROUGH VC/OAVM ARE AS UNDER:
1. Member will be provided with a facility to attend the AGM through VC/OAVM through the NSDL e-voting system.
Members may access by following the steps mentioned above for Access to NSDL e-voting system. After
successful login, you can see link of “VC/OAVM link” placed under “Join meeting” menu against company name. You
are requested to click on VC/OAVM link placed under Join Meeting menu. The link for VC/OAVM will be available in
Shareholder/Member login where the EVEN of Company will be displayed. Please note that the members who do not
have the User ID and Password for e-voting or have forgotten the User ID and Password may retrieve the same by
following the remote e-voting instructions mentioned in the notice to avoid last minute rush.
2. Members are encouraged to join the meeting through Laptops for better experience.
3. Further Members will be required to allow Camera and use the internet with a good speed to avoid any disturbance
during the meeting.
4. Please note that participants connecting from Mobile devices or Tablets or through Laptop connecting via Mobile
Hotspot may experience Audio/Video loss due to fluctuation in their respective network. It is therefore recommended
to use Stable Wi-Fi or LAN Connection to mitigate any kind of aforesaid glitches.
5. Members who would like to express their views or ask questions during the AGM may register themselves as a
speaker by sending their request from their registered email address mentioning their name, DP ID and Client ID/folio
number, PAN, mobile number at ctil.secretary@adityabirla.com from Tuesday, the 18th July, 2023 (09:00 a.m. IST) to
Friday, the 21st July, 2023 (05:00 p.m. IST). Those Members who have registered themselves as a speaker will only be
allowed to express their views/ask questions during the AGM. The Company reserves the right to restrict the number
of speakers depending on the availability of time for the AGM.
6. Members who need assistance before or during the AGM, can contact NSDL on evoting@nsdl.co.in / 022 - 4886
7000 / 022 - 2499 7000 or contact Mr. Amit Vishal, Senior Manager - NSDL or Mr. Anubhav Saxena, Assistant
Manager - NSDL.
VI. You can also update your mobile number and e-mail id in the user profile details of the folio which may be used for
sending future communication(s).
VII. The voting rights of members shall be in proportion to their share of the paid-up equity share capital of the Company as
on the cut-off date of Thursday, the 20th July, 2023.
VIII. Any person holding shares in physical form and non-individual shareholders, who acquires shares of the Company and
becomes a Member of the Company after sending of the Notice and holding shares as of the cut-off date i.e. Thursday,
the 20th July, 2023, may obtain the login ID and password by sending a request at evoting@nsdl.co.in. However, if you
are already registered with NSDL for remote e-voting then you can use your existing User ID and password for casting
the vote. If you forgot your password, you can reset your password by using “Forgot User Details/Password” or “Physical
User Reset Password” option available on www.evoting.nsdl.com or call on 022 - 4886 7000 and 022 - 2499 7000. In case
of Individual Shareholders holding securities in demat mode and who acquires shares of the Company and becomes a
Member of the Company after sending of the Notice and holding shares as of the cut-off date i.e. Thursday, the 20th July,
2023, may follow steps mentioned below under “Access to NSDL e-Voting system”.
IX. A person, whose name is recorded in the Register of members or in the register of beneficial owners maintained by the
depositories as on the cut-off date i.e. Thursday, the 20th July, 2023, only shall be entitled to avail the facility of remote
e-voting as well as voting at the AGM through VC/OAVM.
X. Mr. Gagan B Gagrani, Practicing Company Secretary (Membership No.: FCS 1772) or failing him Mr. Sanjay H. Sangani
(Membership No.: FCS 4090) Practising Company Secretary has been appointed as the Scrutinizer for providing facility

to the members of the Company to scrutinize the voting during the AGM and remote e-voting process in a fair and
transparent manner.
Other Instructions:
XI. The Chairman of the meeting shall, at the AGM, at the end of discussion on the resolutions on which voting is to be held,
allow voting with the assistance of the scrutinizer, by use of “e-voting” for all those members who attend/participate in the
AGM but have not cast their votes by availing the remote e-voting facility.
XII. The Scrutinizer shall after the conclusion of the voting at the general meeting, first count the votes cast at the meeting and
thereafter unblock the votes cast through remote e-voting in the presence of at least two witnesses not in the employment
of the Company and shall make, not later than two working days from the conclusion of the AGM, a consolidated
scrutinizer’s report of the total votes cast in favour or against, if any, to the Chairman of the meeting or a person authorized
by him in writing, who shall countersign the same and declare the result of the voting forthwith.
XIII. The Results declared along with the report of the Scrutinizer shall be placed on the website of the Company i.e. www.
centurytextind.com and on the website of NSDL i.e. www.evoting.nsdl.com immediately after the declaration of the result,
by the Chairman of the meeting or a person authorized by him in writing. The results shall also be immediately forwarded
to the Stock Exchanges viz. BSE Limited and National Stock Exchange of India Limited and displayed on the Notice Board
of the Company at the Registered office at Century Bhavan, Dr. Annie Besant Road, Worli, Mumbai - 400 030.
By Order of the Board,
Place: Mumbai ATUL K. KEDIA

Dated: 27th June, 2023 Company Secretary
Membership No.: ACS 10100
Registered office:
Century Bhavan, Dr. Annie Besant Road,
Worli, Mumbai- 400 030.
CIN: L17120MH1897PLC000163
Tel. No.: +91-22-2495 7000;
E-mail: ctil.secretary@adityabirla.com
Website: www.centurytextind.com
ANNEXURE TO THE NOTICE
I. Explanatory Statement under Section 102(1) of the Companies Act, 2013
Item No. 3:
The shareholders at the 123rd Annual General Meeting of the Company held on 25th August, 2020 had accorded their consent
to the reappointment of Smt. Rajashree Birla (holding DIN: 00022995) and by way of Special resolution for the continuation of
holding of the office of Non-Executive Director of the Company after completing the age of 75 years till the end of her term i.e.
till she retires from office as Director by rotation.
Pursuant to Regulation 17(1A) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing
Regulations”), the listed entities are required to obtain approval of members by way of a Special Resolution to appoint or
continue the directorship of Non-Executive Director who has attained the age of 75 years.
Accordingly, a Special Resolution is being proposed to be passed by the members for reappointment of Smt. Rajashree
Birla, who has attained the age of 77 (seventy-seven) years, and who retires by rotation and being eligible, offers herself for
reappointment.
Her brief profile is given hereunder:
Smt. Rajashree Birla, Bachelor in Arts is a Non-Executive Director and is one of the Promoter Directors of the Company and
also Chairperson of the Corporate Social Responsibility Committee of the Board of Directors of the Company. She is physically
fit and in good health.
Smt. Rajashree Birla is an exemplar in the area of community initiatives and rural development. She spearheads the Aditya
Birla Centre for Community Initiatives and Rural Development, the Group’s apex body responsible for development projects.

Smt. Birla oversees the social and welfare driven work across its Group’s major companies. The footprint of the Centre’s work
straddles over 7,000 villages, reaching out to 9 million people. The Aditya Birla Group runs 56 schools where quality education
is imparted to over 46,500 children and 20 hospitals. Both its schools as well as hospitals are ‘Not For Profit’ institutions.
The significant extent and reach of the Aditya Birla Centre for Community Initiatives and Rural Development in uplifting and
empowering communities exemplify Smt. Birla’s inspirational leadership in corporate philanthropy. Her vision to elevate the
underprivileged sections of society has inspired her to lead social causes including providing homes to the homeless & destitute
and healthcare to the needy. Smt. Birla is a role model and an iconic leader for those who aspire to bring about positive changes
in society.
A visionary and philanthropist par excellence, Smt. Birla has been recognized with various awards for her exemplary work in the
field of social welfare. Some of the notable awards are ‘Padma Bhushan’ Award bestowed on her by the Government of India
in the area of ‘Social work’, The Rajiv Gandhi Award for Eminence in Social Field and Polio Eradication Champion Award by the
Government of India. She has also been conferred Golden Peacock Award by the Government of Sweden for her exemplary
activities of CSR.
Smt. Rajashree Birla also holds important positions in various organisations involved in initiatives for social welfare and
promotion of art and culture. Besides she is associated with various charitable trusts, educational, cultural and philanthropic
institutions.
Over the years Smt. Rajashree Birla has acquired a deep knowledge of the working of the Company. The Directors of the
Company are of the opinion that her continuation on the Board will be immensely beneficial to the Company.
Smt. Rajashree Birla is on the Board of highly reputed listed public companies viz. Grasim Industries Limited, Hindalco Industries
Limited, UltraTech Cement Limited, Century Enka Limited, Pilani Investment and Industries Corporation Limited, and various
national and international Aditya Birla Group of Companies. Smt. Rajashree Birla is a Non-Executive Chairperson of Century
Enka Limited and Pilani Investment and Industries Corporation Limited.
The disclosures relating to Smt. Rajashree Birla, as required under the Listing Regulations and Secretarial Standard-2 are set
out as Annexure to the Notice.
Smt. Rajashree Birla is related to Mr. Kumar Mangalam Birla being his mother.
Smt. Rajashree Birla is interested in the resolution set out at item no. 3 of the Notice. Except Smt. Rajashree Birla and Mr. Kumar
Mangalam Birla none of the Directors/Key Managerial Personnel of the Company/their relatives are, in any way, concerned or
interested financially or otherwise, in the resolution.
In view of the above, the Board of Directors commends the approval of the members for the Special Resolution as set out at
item no. 3 of the Notice.
Item No. 4:
The Company from time to time for meeting its business requirements and to refinance its debt raises funds through Non-
Convertible Debentures (NCDs). Currently, the Company has outstanding NCDs aggregating to ` 1,050 crores. The Company
has a proven track record of timely payment of interest and maturity/redemption amount to the lenders/debenture holders and
has timely and adequately created security in respect of secured NCDs in the past. The Company does not intend to commit
any default in future in respect of payment of interest or maturity/redemption amount due to lenders/debenture holders or in
creation of security.
However, Securities and Exchange Board of India (SEBI) vide Notification No. SEBI/LAD-NRO/GN/2023/119 dated
02nd February, 2023 (SEBI Notification) has inter-alia, amended SEBI (Issue and Listing of Non-Convertible Securities)
Regulations, 2021 (SEBI NCS Regulations, 2021) in connection with the listed NCDs issued by the Company. SEBI vide its
amendment has inserted Sub-Regulation (6) under Regulation 23 of SEBI NCS Regulations, 2021 mandating the Listed
Company issuing Non-Convertible debt securities to ensure that its Articles of Association requires the Board of Directors
to appoint a person nominated by the Debenture Trustee(s) in terms of clause (e) of Sub-Regulation (1) of Regulation 15
of the Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993 as a Nominee director on its Board
of Directors i.e. in the event of:
i. two consecutive defaults in payment of interest to the debenture holders; or
ii. default in creation of security for debentures; or
iii. default in redemption of debentures.
Further, the said amendment provides that in case an issuer whose debt securities are listed as on the date of publication of
the SEBI (Issue and Listing of Non-Convertible Securities) (Amendment) Regulations, 2023 in the official gazette, shall amend
its Articles of Association to comply with this provision, on or before 30th September, 2023.

The Board of Directors does not foresee occurrence of the aforesaid events triggering requirement of appointment of Nominee
Director by the Debenture Trustee. However, the Board considers it prudent to amend the Articles of Association of the Company
in order to comply with the relevant amended provisions of the aforesaid SEBI Notification and accordingly Board approved
alteration of Articles of Association subject to the approval of the Shareholders of Company as mentioned in the resolution.
A further small amendment is also proposed; viz. deletion of the words “on a poll”, in the last line of the 2nd paragraph of
the said Article 73(i). This is to reflect the position that since the voting at all general meetings of the Company is done
electronically, the question of any poll being taken does not arise.
The existing Articles of Association along with the Articles of Association incorporating therein the proposed amendments are
available for inspection by the Members without any fee from the date of circulation of this Notice up to the date of 126th AGM,
i.e. Thursday, 27th July, 2023. Members seeking to inspect such documents can send an email to ctil.secretary@adityabirla.
com. Alternatively, the same are available for inspection by the Members of the Company at the Registered Office of the
Company on all working days during business hours up to the date of 126th AGM.
None of the Directors and/or Key Managerial Personnel of the Company and their relatives is concerned or interested, financially
or otherwise, in the resolution set out at item no. 4 of the accompanying Notice.
In view of the above, the Board of Directors commends the approval of the members for the Special Resolution as set out at
item no. 4 of the Notice.
Item No. 5
In pursuance of Section 148 of the Companies Act, 2013 (‘Act’) and Rule 14 of the Companies (Audit and Auditors) Rules, 2014,
the Board is required to appoint an individual who is a Cost Accountant in Practice, or a firm of Cost Accountants in Practice, as
Cost Auditor on the recommendations of the Audit Committee. The remuneration recommended by the Audit Committee shall
be considered and approved by the Board of Directors and ratified by the shareholders.
On the recommendation of the Audit Committee, the Board at its meeting held on 24th April, 2023 has considered and approved
the appointment of M/s. R. Nanabhoy & Co., (Firm Registration No.: 000010) Cost Accountants, for conducting the Cost Audit
of the Company’s manufacturing units viz. Birla Century, Jhagadia, Bharuch, Gujarat and Century Pulp & Paper, Lalkua, Nainital,
Uttarakhand, at the remuneration as mentioned in the resolution for this item of the Notice.
In making the decision on the appointment and remuneration of the Cost Auditors, the Audit Committee of Directors considered
the Cost Auditors’ performance during the previous year(s) in examining and verifying the accuracy of the cost accounting
records maintained by the Company.
M/s. R. Nanabhoy & Co. have furnished a certificate regarding their eligibility for appointment as Cost Auditors of the Company.
They have vast experience in the field of cost audit and have conducted the audit of the cost records of the Company for
previous years under the provisions of the Act.
None of the Directors and/or Key Managerial Personnel of the Company and their relatives is concerned or interested, financially
or otherwise, in the resolution set out at item no. 5 of the accompanying Notice.
The Resolution at item no. 5 of the Notice is set out as an Ordinary Resolution for approval and ratification by the members in
terms of Section 148 of the Act.
The Board of Directors commends the Ordinary Resolution set out at item no. 5 of the Notice for approval by the members.
II. Details of Directors seeking re-appointment at the ensuing Annual General Meeting fixed on 27th July, 2023, as required
under Regulation 36(3) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015 and clause 1.2.5 of Secretarial Standard - 2 on General Meetings are given hereunder:-
Name of the Director Smt. Rajashree Birla
Director Identification Number (DIN) 00022995
Brief Resume As per the resolution at item no. 3 of this Notice, read with the
explanatory statement thereto.
Date of Birth/Age 15th September, 1945 / 77 years
Date of appointment on the Board 05th May, 2015
Expertise in specific Functional areas Industrialist
Qualification B.A.

Number of Board meetings held and attended 3 out of 6
during the FY2022-23
List of other Directorships held excluding Foreign Grasim Industries Limited,

Companies, Companies under Section 8 of the Hindalco Industries Limited,
Companies Act, 2013 and Private Companies UltraTech Cement Limited,
Century Enka Limited,
Pilani Investment and Industries Corporation Limited.
List of Listed entity from which she has resigned Nil

as a Director in the past three years
Chairman/Member of the committees of the Nil

Board of other companies in which she is a
Director@
Number of shares held in the Company (including Nil

as a beneficial owner)
Relationship between Directors inter se and other Related to Shri Kumar Mangalam Birla, being his Mother.
Key Managerial Personnel of the Company*
Terms and Conditions of appointment/re- Terms and Conditions of appointment or reappointment are as per
appointment along with details of remuneration Nomination and Remuneration Policy of the Company.
last drawn by such person Remuneration for FY2022-23 is ` 34.52 lacs by way of sitting fees
and commission.
@ Committee positions only of Audit Committee and Stakeholders’ Relationship Committee in public companies have
been considered.
* Under the Companies Act, 2013.
By Order of the Board,
Place: Mumbai ATUL K. KEDIA

Dated: 27th June, 2023 Company Secretary
Membership No.: ACS 10100
Registered office:
Century Bhavan, Dr. Annie Besant Road,
Worli, Mumbai - 400 030.
CIN: L17120MH1897PLC000163
Tel. No.: +91-22-2495 7000;
E-mail: ctil.secretary@adityabirla.com
Website: www.centurytextind.com

FOR INFORMATION OF THE SHAREHOLDERS
I. For ease of participation by members, provided below are key details regarding the 126th AGM for reference:
Sr. Particulars Details of access

No.
1 Day, Date & Time of 126th AGM Thursday, 27th July, 2023, 02:30 P.M.
2 Book Closure (both days inclusive) Tuesday, 18th July, 2023 to Thursday, 27th July, 2023
3 Record date for dividend for shares held in electronic Monday, 17th July, 2023
form
4 Cut-off date for e-voting Thursday, 20th July, 2023
5 Period for remote e-voting Sunday, 23rd July, 2023 from 09:00 a.m. IST to
Wednesday, 26th July, 2023 till 05:00 p.m. IST.
6 E-mail ID and period of registration for members who ctil.secretary@adityabirla.com

would like to express their views or ask questions Period for registration as a speaker at the 126th AGM:
during the AGM Tuesday, the 18th July, 2023 from 09:00 a.m. IST to
Friday, the 21st July, 2023 till 05:00 p.m. IST.
7 E-mail ID for resident individual with PAN who is not Wednesday, 12th July, 2023.
liable to pay income tax need to submit form 15G/15H ctil.investorrelations@adityabirla.com
& Non-resident Shareholders Form 10F by
8 Username and password for Video Conferencing (VC) Members may attend the AGM through VC by accessing
the link https://www.evoting.nsdl.com by using the
remote e-voting credentials.
Please refer the instructions provided in the Notice.
9 Helpline number and e-mail id for any query regarding NSDL: evoting@nsdl.co.in / 022 - 4886 7000 and
VC participation and e-voting 022 - 2499 7000
Contact Mr. Amit Vishal, Senior Manager - NSDL
or
Mr. Anubhav Saxena, Assistant Manager – NSDL
10 E-mail ID and period for members seeking any ctil.investorrelations@adityabirla.com

information about the financial statements or any on or before Friday, 21st July, 2023.
matter to be placed at the 126th AGM
11 Registrar and Share Transfer Agent- Contact details Link Intime India Private Limited
C-101, 247 park, L.B.S. Marg,
Vikhroli (West), Mumbai-400 083.
Tel No.: 8108116767
Email ID - rnt.helpdesk@linkintime.co.in.
12 Century Textiles and Industries Limited- Contact details Century Textiles and Industries Limited
‘Century Bhavan’, Dr. Annie Besant Road,
Tel: 022- 24957000
Email id: ctil.investorrelations@adityabirla.com.

II. Process for registration of email id for obtaining Annual Report and user ID/password or e-voting and updation of
account mandate for receipt of dividend:
Physical Holding Send a request to the Registrar and Transfer Agents of the Company, LIIPL at rnt.
helpdesk@linkintime.co.in providing Folio No., Name of shareholder, scanned copy of
the share certificate (front and back), PAN (self-attested scanned copy of PAN card),
AADHAR (self-attested scanned copy of Aadhar Card) for registering email address.
Following additional details need to be submitted to LIIPL in case of updating Bank
Account Details:
a) Name and Branch of the Bank in which you wish to receive the dividend,
b) the Bank Account type,
c) Bank Account Number allotted by their banks after the implementation of Core
Banking Solutions,
d) 9 digit MICR Code Number; and
e) 11 digit IFSC Code,
f) a scanned copy of the cancelled cheque bearing the name of the first shareholder.
Electronic (Demat) Holding Please contact your Depository Participant (‘DP’) and register your email address and
bank account details in your Demat account, as per the process advised by your DP.

CENTURY
Leading with Purpose,

Growing with Responsibility.
Integrated Annual Report 2022-23
TRIBUTE TO A LEGEND
SHRI BASANT KUMAR BIRLA

12th January 1921 - 3rd July 2019
Former Chairman
Century Textiles and Industries Ltd.
A visionary. A humanitarian. A legend. His life

was a rich tapestry of business acumen, arts,
culture and philanthropy. He was always a
beacon of inspiration. We live by his values.
Leading with Purpose,
Growing with Responsibility.
We are pleased to present our resource efficiency to promote Our dedication to responsible growth
second Annual Integrated Report renewable energy sources, we actively also encompasses ethical practices,
of Century Textiles and Industries strive to minimise our ecological strong corporate governance,
Ltd., with the overarching theme footprint. and robust risk management.
of “Leading with Purpose, Growing Secondly, our focus on responsible We are committed to uphold the
with Responsibility”. This theme growth extends to our commitment to highest standards of integrity and
encapsulates our unwavering social well-being. We firmly believe accountability in all our interactions,
commitment to sustainability and in fostering a safe and inclusive work while proactively managing risks
responsible business practices, and environment, where our employees to safeguard the interests of our
lays the foundation of our operations. are treated with respect and provided stakeholders.
At CTIL, we recognise the critical equal opportunities for growth. Through this Annual Integrated
importance of pursuing growth in a We invest in their professional Report, we aim to provide you
responsible and sustainable manner. development and well-being, with a comprehensive overview of
Our theme signifies our dedication recognising that our success is closely our sustainability initiatives and
to fostering a better future by intertwined with their dedication and responsible business practices.
integrating environmental, social, and expertise. It highlights our achievements,
economic considerations into our challenges, and the steps we are
Furthermore, responsible growth
business strategies. It emphasises taking to continuously improve our
entails building strong relationships
that responsible growth is not just performance.
with our stakeholders. We
an idealistic notion but a practical
engage with local communities, We invite you to delve into the pages
imperative for us. By actively
understanding their needs and of this report, and look forward to
embracing social responsibility,
contributing to their sustainable your feedback. Together, let us create
delivering exceptional products,
development. By forging partnerships a better tomorrow, where economic
and engaging with stakeholders, we
based on transparency and trust, we prosperity goes hand in hand with
strive to create a positive impact that
ensure that our business operations environmental stewardship and social
extends beyond our immediate sphere
have a positive impact on the progress.
of influence.
communities we serve.
The key elements of this theme
are centred around our sustainable
growth approach. Firstly, we prioritise
environmental stewardship by Inspiring a Sustainable Tomorrow.
implementing eco-friendly practices
throughout our operations. From
Through innovation, collaboration, and
adopting modern technologies for mindful choices, paving the way for a
better future.
Table of Contents
04-33 Introduction
06 a. About the Report
08 b. CTIL at a Glance
12 c. Leadership Messages
12 Message from Chairman, Mr. Kumar Mangalam Birla
16 Message from Managing Director
18 Message from Chief Financial Officer
20 Message from Managing Director and Chief Executive Officer, Real Estate
22 Message from Chief Executive Officer, Pulp and Paper
24 Message from Chief Human Resources Officer
26 Message from Head-Sustainability
28 Governance
34-53 Value Creation Process

36 Our approach to Value Creation
38 Strategic Objectives
42 Business Opportunities
44 Internal & External Environment
51 Materiality Assessment
54-149 Our Capitals

56 Financial Capital
64 Manufactured Capital
78 Human Capital
94 Natural Capital
124 Social & Relationship Capital
140 Intellectual Capital
150-171 Appendix
150 GRI Content Index
166 UN SDG Linkage
168 Glossary of Abbreviations
172-294 Statutory Reports

172 Directors’ Report
182 Management Discussion and Analysis Report
190 Annexure I-V (inclusive of disclosure in AOC-I)
203 Corporate Governance Report
223 Business Responsibility and Sustainability Report
295-471 Financial Statements

295 Standalone Financial Statements
381 Consolidated Financial Statements including 5 years highlights and
statement of assets and liabilities for 5 years
Century Textiles and Industries Limited
Introduction
4 Leading with Purpose, Growing with Responsibility.
Company Overview Statutory Reports Financial Statements
6 About the Report
6 Purpose of the Report

6 Reporting Guidelines and Frameworks
6 Reporting Scope and Boundary
7 Materiality
7 Statement of Responsibility
7 Restatements of Information
7 External Assurance
8 CTIL at a Glance
8 About CTIL
8 Mission, Vision, and Values
10 Business Verticals
12 Leadership Messages
12 Message from Chairman

01
18 Message from Chief Financial Officer
and Chief Executive Officer, Real
Estate
22 Message from Chief Executive
Officer of Pulp and Paper
24 Message from Chief Human
Resources Officer
26 Message from Head-Sustainability
28 Governance
28 Board of Directors
30 Board Committees
Integrated Annual Report 2022-23 5

About the Report
Purpose of the Report Reporting Guidelines and Reporting Scope and Boundary
Frameworks
This integrated report is a This report provides
comprehensive document CTIL’s integrated report for the comprehensive information
that aims to effectively convey FY 2022-23 has been prepared in about the operations of the
the value creation story of accordance with the International Company. It encompasses
Century Textiles and Industries Integrated Reporting Framework the Company’s Real Estate
Ltd. (hereafter referred to as published by the International (Birla Estates), Pulp & Paper
“CTIL” or the “Company”) by Financial Reporting Standards (Century Pulp and Paper),
integrating its financial and non- Foundation (IFRS). In order to and Textiles (Birla Century)
financial performance over the provide a comprehensive view of business verticals for the
past years. The objective of this the Company’s performance, this FY 2022-23. The reporting
integrated report is to provide report is prepared in accordance boundaries for this year’s report
a holistic overview of CTIL’s with the Global Reporting include project sites located in
performance, strategies, risks, Initiative (‘GRI’) Standards 2021 Mumbai-MMR (Maharashtra),
and opportunities in a clear and and aligned our efforts with Bengaluru (Karnataka),
concise manner. By including the United Nations Sustainable Gurugram (NCR, Haryana)
both financial and non-financial Development Goals. Moreover, and all manufacturing facilities
information, this report the financial and statutory data located at Jhagadia (Gujarat),
demonstrates how CTIL creates presented in this report complies and Lalkua (Uttarakhand). We
value in the short, medium, with the requirements of the are committed to reporting on
and long-term and how it Companies Act, 2013, including our Environmental, Social, and
balances the needs of its various the rules made thereunder, as Governance (ESG) initiatives
stakeholders. Additionally, the well as the Indian Accounting and activities annually using
Company expects this report Standards. We have also the integrated reporting
to help in fostering trust and followed the Securities and methodology. Where relevant,
stronger relationships with Exchange Board of India (Listing historical trends have been
all stakeholders, including Obligations and Disclosure highlighted, and any exclusions
customers, investors, Requirements) Regulations, have been clearly stated in
shareholders, employees, 2015, and the Secretarial the respective sections. CTIL
regulators, and society at large. Standards. Additionally, this releases its reports on an annual
report incorporates the Business basis, while financial summaries
Responsibility and Sustainability are provided quarterly basis.
report for the Company for the For any inquiries related to
FY 2022-23. this report, please contact Mr.
Yogesh Natu at ctil.esgcentury@
adityabirla.com or call +91-22-
24957000.

Materiality Statement of Responsibility Restatements of External Assurance

Information
This report is dedicated Our Board of Directors The disclosures
to the material themes (hereafter referred to as the As CTIL is continuously made based on
that have been identified “Board”) is confident that evolving in its journey GRI indicators
through a rigorous and CTIL’s Integrated Report for FY towards transparent in this reporting
comprehensive process. 2022-23 addresses important report and disclosures, period have not
To ensure accuracy issues, provides a fair and it revisits its processes undergone external
and relevance, we thorough understanding of our for collating data with assurance. We
revisited the material strategy, and demonstrates respect to various KPIs remain committed
topics for this year by the organisation’s capacity and may entail restating to improving
conducting thorough to generate long-term value. certain information our reporting
peer benchmarking, The components of this published in the past. practices and will
extensive primary research Report, which were created Restated information work towards
on various standards, on the advice of our senior from the previous implementing the
frameworks, and rating management and using input Integrated Report(s) has external assurance in
indices, and engaging in from numerous important been denoted by (R#) the future reporting
meaningful discussions functional teams, are also in this Report. cycles.
with our internal and acknowledged by our board.
external stakeholders. Certain statements in this
Through this diligent Report are forward-looking
analysis, we have arrived statements with respect to
at the conclusion that the our business operations. The
material topics identified risks identified are based
in the previous year which on assumptions, and thus
are still highly pertinent may differ from the actual
and should be maintained results. These statements
for this year’s report. By are based on projections and
doing so, we maintain trends in the industry and
a consistent focus on constitute our expectations
the areas that hold the on those assumptions. These
utmost importance in our assumptions include all
operations. the statements other than
historical facts, performance
snapshots, business strategy,
mitigation plans and objectives
for future operations. CTIL
undertakes no obligation to
publicly update any forward-
looking statements, whether
as a result of new information,
future event or otherwise.

CTIL at a Glance
CENTURY About CTIL Mission
The Company has evolved from its humble To manufacture world-class products
beginnings as a textile unit in 1897 into a of outstanding quality that give our
dynamic commercial force. CTIL is a publicly customers a competitive advantage
traded Company with its corporate headquarters through superior products and value,
in Mumbai. The Company has three distinct so we can make every customer
business operations in the real estate, pulp & smile.
paper and textiles.
Our exceptional quality, strong business

To encourage people’s ownership,
performance care for the environment, and
empowerment and working under
commitment to the community are what we
team structure.
emphasise as ways to provide value to our
stakeholders. As a testament to our indomitable
spirit, we continue to accomplish the ambitious To attain highest level of efficiency,
vision through a culture of perpetual innovation. integrity, and honesty.
Our mission is to continuously manufacture

world-class products that exhibit outstanding
quality, providing our customers with a distinct
Vision
competitive advantage through superior value
and exceptional offerings. By delivering excellence
in our products and services, we strive to evoke
To manufacture products comparable to smiles and satisfaction from every customer we
international standards, to be customer- serve.
focused and globally competitive through better
We foster an environment that promotes
quality, latest technology, and continuous
ownership, empowerment, and collaboration,
innovation.
where individuals are encouraged to take
ownership of their work and contribute to the
collective success of the team. We believe in
the strength of teamwork and value the diverse
perspectives and expertise each team member
brings.
Through our unwavering focus on In our pursuit of excellence, we are committed to

quality, technology, and innovation, achieving the highest levels of efficiency, integrity,
we aim to establish ourselves as a and honesty. We uphold ethical business practices
global player and ensure that our and operate with transparency, ensuring that
our actions align with the values we espouse. By
products are recognised for their
adhering to these principles, we strive to earn the
excellence worldwide.
trust and confidence of our stakeholders and the
wider community.

Our Values
Customer Satisfaction and
Delight
Superior Quality and

Performance
Concern for Environment and

Community
Passionate About Excellence
Fair to All
Safe Workplace and Promotion

of Healthy Work Habits
Our core values shape the foundation of

our organisation and guide our actions and
decisions. We prioritise customer satisfaction
and strive to exceed their expectations,
ensuring their delight with our products and
services. Superior quality is a fundamental
aspect of our performance, as we aim to deliver
the best-in-class solutions to our customers.
We are deeply committed to environmental

sustainability and actively engage with the
community to contribute positively to society.
Our pursuit of excellence is driven by passion,
as we continuously seek opportunities for
growth, improvement, and innovation.
Fairness is at the heart of our business conduct,

as we treat all stakeholders with respect and
integrity. We prioritise the well-being of our
employees by providing a safe workplace and
encouraging healthy work habits, ensuring
their overall wellness and productivity. These
values define our organisation and guide us
towards success.

Business Verticals
CTIL is a diverse company with operations in the
Real Estate, Pulp and Paper and Textiles as below:
Real Estate
With the aim of delivering exceptional LifeDesignedTM home
and office spaces, the Company by the brand name Birla
Estates entered the realty sector in 2016, marking its foray
into residential and commercial real estate. Our vision is to
transform the perception of the Indian Real Estate sector by
creating value and delivering an exceptional experience for
every stakeholder. We are well-known name in the industry,
offering cutting-edge technology and captivating design in
our residential and commercial spaces.
Our portfolio includes high-quality projects that not only

provide luxurious living but also promote sustainable and
eco-friendly lifestyles. We have successfully completed
two commercial projects and launched five residential
projects, establishing our presence in major cities such as
Mumbai Metropolitan Area (MMR), the National Capital
Region (NCR), and Bengaluru. We are committed to setting
new benchmarks in the industry by creating properties that
embody creativity, sustainability, and innovative design.
Our LifeDesignedTM spaces are meticulously crafted

to understand, nurture, and enrich lives, reflecting our
dedication to creating exceptional experiences for our
customers. As Birla Estates continues to evolve, we
embrace new dimensions and explore strategic tie-ups and
alliances across top cities. Our goal is to develop land parcels
held by the Company while maintaining our focus on trust,
transparency, and excellence in real estate.
Disclaimer
Birla Niyaara: The Project “Birla Niyaara Phase – 1 is registered with MahaRERA under the Project Registration No. P51900031916 and can be viewed at https://
maharera.mahaonline.gov.in. The Project Birla Niyaara is an integrated development spread across 14 acres being developed in phases and Birla Niyaara Phase-1 is a part
thereof.
Birla Vanya: Projects “Birla Vanya – Phase 1 and Birla Vanya – Phase 2” are registered with MahaRERA under the Registration Nos. P51700019178 & P51700029755
respectively and can be viewed at https://maharera.mahaonline.gov.in.
Birla Alokya: Project “Birla Alokya” comprising of 218 Villaments and a Club house is registered with Karnataka RERA under the registration No. PRM/KA/
RERA/1250/304/PR/190724/002725 and can be viewed at https://rera.karnataka.gov.in.
Birla Tisya: Project “Birla Tisya” comprising of 2 towers and a clubhouse is registered with Karnataka RERA under the Registration No. PRM/KA/RERA/1251/309/
PR/211022/004371 and can be viewed at https://rera.karnataka.gov.in.
Birla Navya: RERA Registration – Birla Navya (Amoda I and II) – RC/REP/HARERA/GGM/390/122/2020/06 OF 2020; Birla Navya (Drisha 1A) – RC/REP/HARERA/
GGM/391/123/2020/07 OF 2020; Birla Navya (Drisha 1B) – RC/REP/HARERA/GGM/553/285/2022/28 OF 2022; Birla Navya (Anaika) – RC/REP/HARERA/
GGM/596/328/2022/71 of 2022; Birla Navya (Avik Phase-1) – RC/REP/HARERA/GGM/673/405/2023/17 OF 2023 on www.haryanarera.gov.in. The Project is being
developed by Avarna Projects LLP (“Developer”). Birla Estates Private Limited and Anant Raj Limited are partners in the Developer LLP.

Pulp and Paper Textiles

Nestled at the foothills of the Himalayas in Lalkua, In the year 2008, CTIL established its textiles vertical,
Uttarakhand our Pulp and Paper division (Century Birla Century, a state-of-the-art, vertically integrated
Pulp and Paper) stands out as a prominent player in plant located in Jhagadia, Bharuch, Gujarat. Spanning
the industry. With a strong focus on quality, we have over an expansive area of approximately 100 acres,
established ourselves as a renowned producer of the Textiles business utilises modern machinery to
premium writing and printing paper, board, Rayon produce a wide range of premium textiles. Textiles’
Grade Pulp, and tissue products. offering includes bottom weights, suiting, finer
fabrics, and household linen. We take pride in
Operating since 1984, Pulp and Paper holds the
imparting innovative finishes to our fabrics, such as
distinction of being the largest manufacturer of paper,
wrinkle-free, easy-care, and anti-bacterial properties.
board, tissue, and pulp from a single location in India.
These finishes are achieved through world-class
Our presence extends beyond domestic markets, as we
automated processing, utilising eco-friendly and non-
have successfully established ourselves as a significant
toxic dyes and chemicals. At the Textiles business,
player in the global export market. With service centers,
quality and innovation are paramount.
sales offices across the country, and a network of agents
worldwide, we ensure a seamless experience for our Through our extensive network of distributors
customers. and dealers in India, as well as our presence in the
global market, we make our exclusive range of home
Committed to environmental stewardship, we adopt
textiles and other products accessible to customers
stringent measures to ensure the utmost care for
worldwide. With a commitment to sustainability and
the environment in all our operations. Moreover, we
an unwavering focus on quality, Textiles exemplifies
actively engage in community initiatives, acknowledging
the excellence that has been synonymous with
our responsibility towards the communities we
Century Textiles and Industries Ltd. We continue to
serve. Pulp and Paper continues to set industry
be a leading player in the textile industry, delivering
benchmarks through its unwavering dedication to
exceptional products that cater to the evolving needs
quality, environmental consciousness, and community
of our customers.
engagement.

Leadership Messages
Chairman's Letter
Dear Shareholders,
The foundation of our group rests

upon a philosophy of trusteeship,
which imagines corporations as
institutions that drive collective
prosperity. This philosophy has
played an integral role in shaping
our actions for generations, guiding
us in our quest to enrich lives. Over
the years, this purpose, though
unstated, has been our unwavering
anchor.
In FY 2022-23, we formally put

to words our group’s purpose
statement. At its heart is the
commitment to enrich lives by
building dynamic and responsible
businesses and institutions that
inspire trust. Every day, we strive
to honour this commitment through
our brands, products, services,
solutions, actions, relationships, and
Our purpose statement stands institutions.
both timeless and fresh against the Our purpose statement stands
backdrop of our extensive history. both timeless and fresh against the
backdrop of our extensive history.
In a world of increasing opportunity,
and also accelerating uncertainty,
our purpose statement is meant to
act as a talisman and remain at the
core of our business decisions.

India’s economic narrative paints a much

brighter picture. With a government-led push to
infrastructure investments and pragmatic policies
such as the production-linked incentives scheme,
private capex has seen a surge.
Our purpose offers us a unique lens set to significantly contribute to global Supported by the dynamism of its
with which to view the world, to bring economic growth in CY23, providing a tech-based ‘new economy’ enterprises
perspective to it, and to thrive in it. much-needed stimulus as developed and the expanding digitisation across
Guided by this unique perspective, we economies grapple with challenges. sectors, India’s growth momentum
navigate the evolving global landscape continues to strengthen.
Meanwhile, global supply chain
with resilience and foresight. As we turn
pressures have largely normalised, The Reserve Bank of India (RBI)
our attention to the current state of the
helping ease commodity prices projects India’s economy to grow at
global economy, it is evident that we
and peak inflation levels in most 6.5% in FY 2023-24, demonstrating
are charting a course through a ‘new
economies. Central banks, led by the the nation’s resilience amidst subdued
normal’.
US Federal Reserve, appear to be global economic conditions. Inflation
nearing the end of their rate-hiking seems to have peaked globally and in
Global Economy: Finding a New
phase, signaling cautious optimism India. Easing inflation, robust foreign
Normal.
for the global economy and financial exchange reserves, and improving
The global economy continues to pull markets. However, vigilance remains bank assets’ quality provide a sizable
itself out of the pandemic-triggered crucial in the face of potential risk cushion against potential destabilising
shock. It does so amid a complex events in this fragile environment. events in global markets.
environment marked by the ongoing
conflict in Ukraine, geo-economic India: The Shining Star A key component of the rise of any
fragmentation, soaring interest industrial ecosystem is the presence
India’s economic narrative paints of a confident and skilled workforce.
rates, and looming risks of a banking
a much brighter picture. With a This year, India surpassed China in
contagion. Reflecting these concerns,
government-led push to infrastructure population, and already has the largest
the International Monetary Fund (IMF)
investments and pragmatic policies and youngest working age population
expects global economic growth to dip
such as the production-linked globally. The lessons learnt from the
from 3.4% in CY22 to 2.8% in CY23.
incentives scheme, private capex has transformations of other economies
Developed countries are predicted
seen a surge. This rise triggers a multi- through the last few decades point to
to experience a more pronounced
year boom, providing valuable support the importance of this demographic
deceleration, their aggregate growth
to economic growth in the face of dividend.
stumbling to just 1.3% in CY23 - the
softening global demand.
slowest pace in a decade, excluding the In the grand theatre of global
pandemic-impacted CY20. A decadal reshaping of supply chains
economic evolution, India stands
is underway. As global corporations
On the brighter side, China’s economy not as a mere spectator, but as a
start to look at countries across Asia
marches towards normalisation charismatic lead.
as part of their China + 1 strategies,
following the lifting of its Covid-related
India is well positioned to benefit.
restrictions. Both China and India are

Aditya Birla Group in Perspective across traditional and sunrise sectors. diverse learning approaches, both in
terms of design and implementation.
As India takes center stage in this This year, we’ve emphasised the
Beyond the traditional classroom
grand narrative, the Aditya Birla implementation of our 3-year HR
environment, we provided learning in
Group finds itself in a unique position Strategy, guided by our Purpose
various accessible forms - including
to contribute to this monumental Principles. This approach has enabled
bite-sized modules, self-paced
journey. Our enduring success amidst us to build enduring bonds with our
curricula, and certification courses
global uncertainties stems from our stakeholders, including key employee
- thereby benefiting 87% of our
unyielding commitment to purpose, segments, like early professionals,
management cadre employees.
anchored in principles that are much and attract high-quality talent across
more than just words. traditional and digital businesses. With two-thirds of our workforce
under 35, our attention is
And therefore, the articulation of As we continue to expand, our
concentrated on equipping early
purpose was just the first step. We employer brand has empowered us
career employees to fulfill their
cultivated a deep understanding of to attract over 11,000 employees in
evolving aspirations and needs.
our Purpose across the depth and FY 2022-23 - a diverse pool of new
Through a unique program titled
breadth of the Group, including skills and capabilities. Furthermore,
‘CareerAbility’, these employees have
the last mile. To transform Purpose our commitment to diversity is evident
engaged in a series of self-guided
from a concept to an embodied in the increasing representation of
learning bytes, self-assessments,
experience, approximately 600 of women in our workforce. Culture
psychometric evaluations, and
our senior leaders and managers champions have been instrumental
leadership-led career guidance
took the initiative to receive training in fostering an inclusive and
sessions. This diverse range of
and facilitate introspective dialogues collaborative environment where
resources has been utilised more than
on Purpose. This facilitated their every employee feels heard, valued,
40,000 times.
teams to internalise, personalise, and and respected.
actualise our Purpose in a manner that Our commitment to the identification
was both unique and authentically Amidst shifting market dynamics,
and cultivation of talent has remained
representative of their roles within our Learning and Leadership Development
resolute. We have recognised over
dynamic group. continues to be a key pillar, helping
900 pivotal roles within our Group for
us equip over 35,000 employees with
which a robust succession pipeline
Driven by purpose, the fiscal year the skills necessary to drive business
is firmly in place. An avant-garde
2022-23 stands testament to the outcomes. Over 400 senior leaders,
journey of learning is presently being
breadth and scope of entrepreneurial encompassing CEOs, CXOs, and Unit
undertaken to equip our future
ventures we have embarked upon. We heads, have bolstered their capabilities
C-suite leaders, encompassing roles
are exploring uncharted territories, in fields such as geopolitical analysis,
such as CFOs, CMOs, CIOs, and
backing our conviction with capital interpretation of complex megatrends,
CHROs, with the skills and insights
and talent. Our robust platform serves inspirational leadership, and agile
required for leadership in a rapidly
as a launch pad for new initiatives, leadership methodologies. Our
evolving business landscape. This
allowing us to tap into opportunities adaptability was made apparent in our
focus has significantly enhanced our

internal versus external hiring ratio for Crores in FY 2022-23. Our flagship minimise environmental footprint, adopt
leadership positions. project, Birla Niyaara in Mumbai, sustainable forestry practices, engage in
has received an overwhelming responsible sourcing, and promote waste
This shift is facilitated by our reduction initiatives.
response with sales of ₹ 2360 Crores
integrated approach to talent
booking value till FY 2022-23. This
identification, development, and Our textile offerings adeptly cater to
14-acre integrated development in
internal mobility. Over the past the evolving tastes of the younger
Worli, South Mumbai’s sought-after
three years, we have seen 14% generation by providing sustainable
neighbourhood, has sold over 340
of our employees and 27% of our fashion alternatives, thus championing
units till FY 2022-23, making it one
talent pool members transition into a more responsible approach within the
of the most successful launches in
new roles, bringing our vision of ‘A fashion industry.
Mumbai Metropolitan Region (MMR)
World of Opportunities’ to life and
in recent times. CTIL remains steadfast in its
fostering enduring bonds within
commitment to lead with purpose
our organisation. This represents Our Pulp & Paper division capitalised
and grow with responsibility. We will
our steadfast commitment to talent on our production capacity of
continue to leverage our intellectual
growth and mobility, crucial for 4,55,225 tons at an impressive rate
capital, embrace sustainable practices,
building a resilient and adaptive of 95%. Our Textiles division also
and prioritise the well-being of our
organisation. mirrored this success, with a capacity
employees, customers, and communities.
utilisation rate of 90%, producing
Your Company’s Performance: A We extend our deep appreciation to all
33,709,000 meters of fabric and
Pursuit of Enduring Excellence our stakeholders for their unwavering
bedsheets. Our commitment to
support and trust in CTIL.
CTIL’s enduring legacy, stretching over sustainable sourcing is illustrated by
125-years, stands as a testament to the fact that 96% of our pulp & paper I hold the conviction that our Purpose
our unwavering pursuit of excellence sourcing aligns with sustainability broadens our perspective, enabling us to
and dynamic reinvention. Throughout standards. pursue even greater horizons. It serves
this journey, we have seamlessly as the bedrock that propels us towards
Our focus on environmental
adapted to shifting business the future, emboldening us to venture
performance is unwavering. We’ve
dynamics and embraced the sparks into more significant commitments and
made considerable strides in curtailing
of innovation. Our operational and pursuits.
our emissions, with a 7% year-on-year
process strategies spanning across
reduction in Scope 1 emissions, and As we grow, we expand our capacity to
diverse sectors—such as real estate,
renewable sources constituting 40% receive. We enhance our absorption of
pulp and paper, and textiles— are
of our total energy consumption. We talent, technology, and capital. Indeed,
designed to harmonise economic
observed a 6% reduction in water with each stride in growth, we deftly
growth with our environment, social,
usage. weave in more threads of insights and
and governance (ESG) commitments.
capabilities, enriching the tapestry of
Our endeavor to encourage
Anchored in the robust foundation our collective endeavour. This, in turn,
sustainable value creation transcends
of ESG principles, your company enables us to increase our ability to give
the boundaries of our organisation
witnessed a robust performance in back, create impact, and enrich lives. This
to leave a positive impact on the
FY 2022-23. On a consolidated basis, virtuous cycle is at the heart of being a
lives of the customers we serve.
revenue was up 16% year-on-year successful purpose-driven organisation.
Our real estate segment offers
at ₹ 4827.17 Crores, while EBIDTA
sustainable infrastructural solutions Your company doesn’t just pride itself
jumped 38% over the previous year
and designs that harmonise on being a purpose-driven entity— it
to ₹ 687 Crores. Your Company
environmental consciousness with embodies it, living out this ethos in every
reported a profit after tax of ₹ 264.55
architectural excellence. By integrating endeavour, every relationship, and every
Crores for FY 2022-23.
sustainability into our architecture, venture. This commitment to purpose is
In our Real Estate division, we have we aim to build a greener and more what continues to steer us towards an
built a total area of 1,63,438 square sustainable future. even brighter, more impactful future.
meters, launching innovative projects
Your company earned recognition Kumar Mangalam Birla,
that interweave customer-centricity
within the pulp and paper industry Chairman
with environmental sustainability.
through its growth strategies that Century Textiles and Industries Limited
Birla Estates achieved sales of almost
embrace advanced technologies,
1.2 million sq. ft. worth ₹ 2183

Message from Managing

Director
Dear Stakeholders,
I hope this message finds you in

good health and high spirits. As
I reflect on the past year, I am
grateful for the unwavering support
and collective efforts that have
propelled CTIL towards sustainable
growth. It is with great pleasure
that I present to you our Annual
Integrated Report, a testament to
our commitment to responsible
business practices and our journey
towards creating a sustainable
future.
I am delighted to share that

our focus on sustainability has
yielded positive financial results.
In the past fiscal year, we have
witnessed robust revenue
growth, with a 16% year-on-
year (YoY) increase in turnover.
I am grateful for the unwavering Our commitment to operational
efficiency has significantly
support and collective efforts improved our EBITDA by 38%.
that have propelled CTIL By embedding environmental,
towards sustainable growth. social, and governance (ESG)
considerations into our financial
decision-making processes, we
were able to create long-term value
for our stakeholders and fortify our
financial position.

In our diverse portfolio spanning Real Estate, Pulp

and Paper, and Textiles we have made significant
strides in integrating sustainable practices into our
operations.
At CTIL, we firmly believe that practices, we aim to create sustainable into our Annual Integrated Report,
responsible growth is the key to spaces that enrich the lives of our which encapsulates our commitment
shaping a better tomorrow and goes stakeholders and promote a healthier to transparency, accountability, and
hand in hand with economic progress, planet. continuous improvement. It is a
social well-being, and environmental testament to our collective efforts
Within Pulp and Paper, we have
stewardship. Beyond numbers to integrate sustainability into every
embarked on a comprehensive energy
and statistics, our commitment to aspect of our operations and make
management to identify areas of
sustainability is deeply rooted in our a positive impact on society and the
high consumption and implement
core values. We prioritise the well-being environment.
effective energy management
and safety of our employees, actively
strategies. Through these efforts, Your unwavering commitment and
contribute to the communities we
we have successfully reduced our collaboration have been instrumental
operate in, and strive to minimise our
carbon footprint and enhanced in driving our sustainability initiatives
environmental impact. By combining
energy efficiency. Water conservation forward. Together, we have achieved
our purpose-driven worldview with
initiatives, such as water-efficient significant milestones and paved the
digital innovation, we not only drive
fixtures and wastewater recycling, way for a more sustainable future.
our own sustainability agenda but also
have also been key priorities, ensuring Together, we have the power to make
collaborate with like-minded individuals,
responsible water usage throughout a significant and positive impact
organisations, and governments to
our operations. Our commitment to on society and the environment,
shape a more sustainable future for all.
sustainable forestry practices has led and I am confident that by working
In our diverse portfolio spanning Real to extensive tree plantation initiatives, hand in hand, we will create a better
Estate, Pulp and Paper, and Textiles effectively offsetting CO2 emissions tomorrow.
we have made significant strides in and contributing to a greener future.
Thank you once again for being
integrating sustainable practices into
Our Textiles division has achieved an integral part of our sustainable
our operations.
remarkable progress in reducing journey to create a brighter future for
In the realm of real estate, we are power consumption, coal usage, generations to come.
dedicated to incorporating sustainable and steam production. Our goal
Sincerely,
practices into our projects. From is to reduce the greenhouse gas
energy-efficient designs to waste (GHG) emissions, and we are actively R.K. Dalmia, Managing Director
management strategies, we prioritise pursuing this target by sourcing
environmental stewardship without renewable energy from hybrid
compromising on quality or innovation. sources. As we embark on another
By embracing responsible construction year of progress, I invite you to delve

Message from Chief

Financial Officer
With the changing market dynamics

and uncertainties over the past
year, CTIL has continued its journey
of brilliance in its core businesses
of real estate, pulp and paper, and
textiles by being an organisation
that values financial innovation
and resilience. Despite all financial
and political fluctuations, we have
achieved significant milestones in
our operations and sustainability
initiatives.
On the financial front, the Company

has maintained a strong outlook,
with a robust revenue growth of
16%, and improved profitability
in its core business sectors. The
Company’s financial management
strategy which focuses on capital
management, and cash flows,
CTIL has been able to demonstrate is constantly monitored and
its commitment to sustainability, by improved to enable us to optimise
constantly investing in sustainable our resources, minimise our risks,
and create long-term value for all
sourcing, efficient technologies, and stakeholders.
product innovation across all sectors To ensure that the Company is
to minimise our environmental and constantly innovating and expanding
technically, we have spent ` 4.35
social impact. Crores on R&D in FY 2022-23.
Moreover, CTIL has been able to
demonstrate its commitment to
sustainability, by constantly investing
in sustainable sourcing, efficient

On the social front, the Company has made

investments in CSR projects spanning across various
states in India and invests in training for all its
employees, along with ensuring a safe and secure
work environment.
technologies, and product innovation across

all sectors to minimise our environmental and
social impact.
On the social front, the Company has made

investments in CSR projects spanning across
various states in India and invests in training
for all its employees, along with ensuring
a safe and secure work environment. The
consolidated profit of the Company stood at
` 406.25 Crores (before tax) for FY 2022-23.
The real estate business, going forward, will be

positioned as the real estate arm of the Aditya
Birla Group and will be the growth engine of
Century Textiles and Industries Ltd. The Pulp
& Paper business is expected to significantly
add to the Company’s overall cash flows, and
therefore will continue to receive appropriate
capital support. In coming financial years,
the Company will invest actively in the real
estate and the pulp and paper verticals, since
these business areas have a huge potential for
growing in a sustainable and environmentally
friendly manner.
CTIL will, going forward, continue to be an

organisation that pursues business growth
by meeting the ever-changing needs of the
market and at the same time balance it with
financial stability through its robust financial
management and responsible business
practices.
Sincerely,
Snehal Shah, Chief Financial Officer

Message from Managing

Director and Chief
Executive Officer, Real
Estate
Our strategy for aggressive growth
is complemented by our focus on
environmental sustainability, and
we believe that our commitment
to sustainable development will
ensure the long-term viability and
success of our projects.
Real Estate aims to transform the

perception of the Indian real estate
sector. We endeavour to create
vibrant ecosystems and living spaces
for our customers. LifeDesigned® is
our guiding philosophy of drawing
inspiration from and influencing the
lives we touch through our built
environments which are meticulously
perfected to understand, nurture
and enrich a customers’ life from
now till forever.
All our projects have achieved at

As we continue to grow rapidly least IGBC gold pre-certification
and strive to become a leading real with Birla Tisya receiving IGBC
platinum precertification, the highest
estate developer, we are committed level of certification offered by the
to designing green infrastructure Indian Green Building Council. Our
and ecosystems that contribute to a flagship residential project, Birla
Niyaara, has received platinum
sustainable future. pre-certification from the U.S.
Green Building Council (USGBC),
making it the first of its kind in India.
We achieved this by paying close
attention to the design process

We are in a strong position to take advantage of the

current upswing in the real estate market and bring
our vision of being a design-driven, digitally-enabled,
and customer-centric organisation to fruition.
to ensure that apartments receive of the inventory at Birla Tisya in a little and Safety Awards and as the ‘Iconic
ample sunlight and natural ventilation. more than a year since launch and we Real Estate Brand of the Year’ and
Additionally, we performed extensive have sold more than ` 2,300 Crores ‘Best Brands 2021’. We follow best
studies, such as shadow analysis, to worth of inventory in Birla Niyaara in practices in the ESG field in all our
orient the buildings in the best way about a year from launch, making it construction and project operations,
possible to avoid overheating in the the highest selling project in Mumbai acquiring BREEAM certification
apartments and common areas and Metropolitan Region in 2022. We and USGBC certifications for all our
make our projects energy efficient. have acquired 4 projects across three projects. We take a holistic approach
Furthermore, sustainable materials geographies with a total potential for the development of our projects
and finishes have been extensively upwards of ` 10,000 Crores since considering not just the immediate
used throughout the project to reduce the launch of our flagship project. We needs of the project but also the
environmental impact. will be launching these projects from long-term impact on the environment,
FY 2023-24 onwards in a staggered economy, and society.
All our projects have received
manner in line with our ambition to
exceptional customer response. We We are in a strong position to take
grow manifold in the years to come.
sold 400 units in Birla Vanya in 3 days advantage of the current upswing
of launch, sold out the complete first We have been recognised for our in the real estate market and bring
phase of Birla Navya within a year of excellent safety record at various our vision of being a design-driven,
launch, we have sold more than 80% forums including the RoSPA Health digitally-enabled, and customer-
centric organisation to fruition.
Our commitment to protecting
the environment and promoting
sustainable economic growth for all
our stakeholders remains our top
priority. This is aligned with our values
and legacy and underscores our
dedication to responsible business
practices.
Sincerely,
K.T Jithendran, Managing Director

and Chief Executive Officer, Real
Estate

Message from Chief

Executive Officer,
Pulp and Paper
Over the past year, the Pulp and

Paper business has remained
committed to the core values of
CTIL and has worked tirelessly
to ensure that the vertical is on
the forefront of the pulp & paper
industry. The vertical does this by
developing a good balance between
commercial success and social and
environmental responsibility. Pulp
and Paper had an overall growth in
revenue of 27% and recorded total
sales worth ` 3,572 Crores.
Our dedication and prioritisation to

responsible sourcing, sustainable
forestry, and sustainable production
practices have enabled us to be a
leader in sustainability initiatives,
while developing a solid image
within the community and
Our dedication and prioritisation to meeting customer demands. For
responsible sourcing, sustainable forestry, the production we have been
and sustainable production practices have utilising a number of palpable
raw material species, including
enabled us to be a leader in sustainability eucalyptus and poplar, veneer scrap,
initiatives, while developing a solid image bamboo, bagasse, and recycled
wastepaper. In addition to providing
within the community and meeting
environmentally friendly and
customer demands. biodegradable items, we have also
developed several alternatives to
plastic.

While being always environmentally

responsible and conscious, Pulp and Paper
vertical pays much needed attention to
social and governance initiatives.
Moreover, we have started using wood

bark, which was previously dumped and
fed to a chipper, as fuel in boilers. We
saved about 1,803 tonnes of coal by using
4,123 MT of barks and perul as a fuel in
boilers. We have been able to fulfil about
45% of our total energy consumption by
renewable energy, thanks to our efforts
to promote ecologically clean, secure, and
energy-efficient operations.
While being always environmentally

responsible and conscious, Pulp and Paper
vertical pays much needed attention to
social and governance initiatives. On
this front, Pulp and Paper has developed
various CSR initiatives which are revised
annually, and a robust governance
structure which ensures that the vertical
operates in an ethical manner.
As the world moves towards more complex

market structures and the competition
increases to develop sustainable products,
Pulp and Paper vertical will keep innovating
and integrating its business values with
sustainability to offer more - to the
environment and society as one.
Sincerely,
Vijay Kaul, Chief Executive Officer, Pulp

and Paper

Message from Chief Human

Resources Officer
Each year since CTIL’s inception, we

have promoted values that enables
the well-being of employees. Our
employees are one of the key
elements in our success, and CTIL is
dedicated to creating a supportive
and engaging work environment
where all our employees can
thrive. In the past few years,
we have prioritised employees’
holistic development with a series
of initiatives aimed at employee
growth. To retain the top talent
in our organisation and attract
other talented individuals, we have
invested in several development and
retention strategies.
Our training and development

programs are aimed at equipping
employees with the necessary
In line with our commitment to skills and knowledge to enable
sustainability, we have integrated personal as well as professional
environmental, social, and governance growth, which in turn results
in a net positive return for the
(ESG) practices into our human resources organisation. CTIL takes great pride
strategies. We have a robust and updated in promoting a secure and healthy
workplace. To comply with local
human rights policy which considers laws and regulations, the Company
the rights of all stakeholders, including has put strict safety measures into
value chain partners and communities place across all our operations. We
have also regularly examined and
surrounding us. enhanced our occupational health

Our training and development programs

are aimed at equipping employees with
the necessary skills and knowledge to
enable personal as well as professional
growth, which in turn results in a net
positive return for the organisation.
and safety procedures. The welfare of our

employees is a key priority, so we have made
wellness programmes, employee assistance
programmes, and mental health support
available to them so that both their physical
and emotional health are taken care of.
In line with our commitment to sustainability,

we have integrated environmental, social, and
governance (ESG) practices into our human
resources strategies. We have a robust and
updated human rights policy which considers
the rights of all stakeholders, including value
chain partners and communities surrounding
us. To have a good influence on the areas in
which CTIL operates, we have also taken part
in a variety of community initiatives, such as
volunteering, and social impact projects.
As the Chief Human Resources Officer, I

am proud of our Company’s achievements
and our commitment to our employees and
stakeholders. Going forward, the Company
will continue to invest in its employees and
communities, in an endeavour for inclusive
growth.
Sincerely,
Arun Gaur, Chief Human Resources Officer

Message from Head-

Sustainability
At CTIL, sustainability is deeply

ingrained in our corporate
DNA. We firmly believe that by
integrating sustainability into our
operations, we can generate long-
term value for our stakeholders
and contribute to a better
tomorrow for all. Our sustainability
efforts are guided by our core
values, which include customer
satisfaction, superior performance,
environmental and community
concern, passion for excellence,
fairness, and a commitment to
providing a safe workplace.
Through rigorous efforts and

collaboration, we have achieved
significant milestones in reducing
our environmental impact,
conserving natural resources, and
CTIL will continue to pursue a more promoting social welfare. We have
sustainable future for ourselves and implemented innovative practices
future generations. The Company and technologies to minimise our
carbon footprint, optimise our
acknowledges its responsibilities to the waste and water management
environment, society, and its constituents, and improve resource efficiency
across our operations. I am
and integrates sustainability into its core
thrilled to share some momentous
business strategy. achievements in our pursuit of
sustainability. 40% of our total
energy consumption is derived
from renewable sources, and

Our comprehensive CSR initiatives have positively

impacted the communities in which we operate,
empowering individuals and fostering sustainable
development.
through our collective efforts, we have

achieved reductions of 5.3% and 6%
in Greenhouse Gas (GHG) emissions
and Water withdrawal respectively
as compared to the previous year.
We have a robust 3R (Reduce, Reuse,
Recycle) waste management plan,
resulting in an incredible 99% diversion
of our generated waste from reaching
disposal sites. Our dedicated task
forces on Energy, Water and Waste
always underscore proactive approach
to addressing these critical pillars of
sustainability. Our comprehensive CSR
initiatives have positively impacted
the communities in which we operate,
empowering individuals and fostering
sustainable development.
As we move forward, we remain

dedicated to our sustainability goals.
We have conducted a thorough
materiality assessment in consultation
with internal and external stakeholders
to identify the most pressing issues for
our business and society. The material
topics identified continue to guide
our strategic decisions and actions,
ensuring that we address the areas that
matter most to the Company.
Sincerely,
Yogesh Natu, Head-Sustainability

Governance
Board of Directors
Mr. Kumar Mangalam Birla Smt. Rajashree Birla Mr. Yazdi P. Dandiwala
Chairman Non-Executive Director Independent Director
Mr. Rajan A. Dalal Mr. Sohanlal K. Jain Ms. Preeti Vyas

Independent Director Independent Director Independent Director
Mr. R. K. Dalmia
Managing Director

Key Managerial Personnel
Mr. R. K. Dalmia Mr. Snehal Shah

Managing Director Chief Financial Officer (CFO)
Mr. Atul K. Kedia

Sr. Vice President (Legal) and
Company Secretary

Board Committees
Audit Committee
Shri Yazdi P. Dandiwala – Chairman

Shri Rajan A. Dalal
Shri Sohanlal K. Jain
Ms. Preeti Vyas
CSR Committee
Smt. Rajashree Birla – Chairperson

Shri Yazdi P. Dandiwala
Shri Rajan A. Dalal
Shri Rajendra Kumar Dalmia
Risk Management
Committee
Shri Rajan A. Dalal
Nomination and
Remuneration Committee
Shri Rajan A. Dalal – Chairman
Shri Kumar Mangalam Birla

Finance Committee

Shri Rajan A. Dalal
Prevention of Insider
Trading Regulations
Committee
Shri Yazdi P. Dandiwala – Chairman
Shri Rajan A. Dalal
Stakeholders’
Relationship Committee
Shri Rajan A. Dalal – Chairman
Ms. Preeti Vyas
Committee of
Independent Directors
Shri Rajan A. Dalal
Ms. Preeti Vyas

Nomination and selection of the

highest governance body
The Nomination and Remuneration Policy laid down by the Board of Directors
forms the criteria and defines the selection process for appointment of
Directors on the Board and the Committees as per the applicable laws.
Approval of the shareholders is taken for the appointment of the Directors as
required under the relevant laws. Out of the 7 Directors, the Board comprises
2 women Directors. The Board of Directors possess the requisite skills,
expertise, and competences in context of the business to function effectively
including but not limited to business strategy, planning, Corporate Management
and Social Responsibility, accounting, & financial skills, legal, compliance & risk
management, designing, & communication, advertising & media, production
marketing. The Nomination and Remuneration Committee determines the
criteria for performance evaluation and remuneration of Directors as per
the Remuneration Policy. Approval of Shareholders is taken for appointment
including payment of remuneration to Executive Directors and payment of
commission to Non-Executive Directors from time to time. Voting results of the
shareholders on remuneration are disclosed to Stock Exchanges and are also
hosted on our website. Additionally, the performance evaluation of the Board
of Directors, Committees of the Board and Chairman is carried out annually
Role of The Board critical concerns to stakeholders. Several

strategies are used by the Board to effectively
The Chairman serves as the Non-Executive communicate such information. To begin, regular
Director of the Board. The Board assesses board meetings are planned to discuss and
the Company's performance with the address critical issues in a structured manner.
market condition and in an agile manner These meetings provide a forum for directors
decides its strategies, policies and goals to share their perspectives, exchange ideas, and
related to sustainable development. The deliberate on important issues. Furthermore,
Board oversees and reviews the Company's comprehensive board reports are prepared
state of affairs and its impacts on the that outline the nature of the concerns, their
economy, environment, and people. The impact, and proposed mitigation strategies.
Business CEOs or Divisional Heads submits To ensure that everyone is informed, these
the business reports to the Board of reports are distributed to all stakeholders,
Directors on quarterly basis, and there is including shareholders, regulators and investors.
equal delegation to each board committee Furthermore, the Board may organise town hall
for the management of impacts. meetings and phone calls to directly engage with
stakeholders and address their questions and
Another important role of the Board is to
concerns.
ensure transparent communication regarding

Managing Conflicts of Compliance with

Interest Laws and Regulations
Management of conflicts of interest is
CTIL is committed to upholding
a critical aspect of effective corporate
the highest standards of ethics
governance. To address this, the Board
and integrity. We are dedicated to
establishes stringent policies and
operating in full compliance with
procedures for identifying, disclosing,
all applicable laws, regulations, and
and managing conflicts of interest.
industry standards. Our commitment
The Board does this by establishing a
extends to every aspect of our
code of conduct outlining expected
business, from product development
behaviours, disclosing personal
and manufacturing to marketing
interests and potential conflicts, and
and customer service. We maintain
recusing oneself from decision-making
rigorous internal controls and regularly
processes when conflicts arise.
review and update our policies
and procedures to ensure ongoing
compliance. By adhering to legal
requirements, we strive to foster trust,
transparency, and accountability with
our stakeholders, including customers,
employees, shareholders, and the
communities in which we operate. In
FY 2022-23, there were no instances
of non-compliances with applicable
laws by CTIL.

Value
Creation
Process
34 Value Creation
Process
36 Our approach to Value

Creation
38 Strategic Objectives
42 Business Opportunities
44 Internal & External
Environment
51 Materiality Assessment
02
Our approach to Value

Creation
CTIL's approach to value creation is centred around three fundamental pillars: innovation, sustainability, and stakeholder
collaboration. These pillars form the foundation of CTIL's strategic initiatives and guide the company's efforts to generate long-
term value for all stakeholders.
Inputs Business Outlook
Financial Capital
Shareholder Equity: ₹ 111.69 Crores
Capital Expenditure: ₹ 121.28 Crores Our Vision
Net Worth: ₹ 4,038.95 Crores To manufacture products comparable to
Debts: ₹ 1,037.71 Crores international standards, to be customer-
focused, globally competitive through better
Human Capital quality, latest technology, and continuous
innovation.
Total Employees: 1,305
Total Workers: 8,998
Training Coverage on Principles of Our Mission
National Guidelines on Responsible To manufacture world class products of
Business Conduct: 100% outstanding quality that give our customers
Employee Benefits Expenses: ₹ 344.83 a competitive advantage through superior
Crores products and value: to encourage people’s
ownership, empowerment, and working under
Improved Health and Safety System
a team structure; to attain the highest level of
efficiency, integrity and honesty.
Social & Relationship Capital
Active Supplier Base: 2,535
Community Expenditure: ₹ 5.18 Crores Our Strategic
Coverage of CSR Initiatives Expanded
Objectives
Intellectual Capital Employees

Cu
sto
on
R&D Facilities: 1 R&D Facility

me
ati
Inv reho
ov
ity
R&D Expenditure: ₹ 4.35 Crores

rC
Sh
est
Inn
un
en
ors ers
mm
tric
an
Co
ld
ity
Manufactured Capital
d
Real Estate Area Under Construction: Over 64 Our

lakhs sq. ft. across 5 projects Stakeholders
me s
ern odie
Pulp and Paper Installed Capacity (Paper,

nt
Su
Multi-Layer Board, Tissue Paper, Pulp):

B
pp ners
Cre take
Pa
d G ry
lity
ly C
4,81,130 Tons
an lato
r t
ati hold
abi
ov
S
ha
gu
ng
Textiles Installed Capacity (Fabric and

tain
in
Re
Va ers
Bedsheets): 41million meters per annum

Sus
Consumers/
lue
for
Customers
Natural Capital
Energy Consumption: 16,000.37 TJ Responsible Business
Water Withdrawal: 1,39,50,904.85 KL
ZLD Facilities: 1
Renewable Energy Used: 6,458.27 TJ
(40% of total energy consumption)

Introduction to our capitals: CTIL recognises that value creation extends beyond financial measures and encompasses various
forms of capital that contribute to its overall success and sustainability. The concept of capital highlights the diverse resources
and assets that CTIL leverages to create value and deliver positive outcomes for its stakeholders. This integrated approach
recognises the interconnectedness and interdependence of these capitals in achieving CTIL's strategic objectives.
Output Value Generated for Stakeholders
Financial Capital
Our Businesses
Revenue Generated: ₹ 4,827.17 Crores
Profit After Tax: ₹ 264.55 Crores
Market Cap: ₹ 7,082 Crores
Real Estate
Human Capital
Females in Management Positions: 29% (Board
of Directors)
Pulp and Paper New Hires: 1,237
Women Employees: 96
Employee well-being and productivity
Safe workplace
Textiles
Social & Relationship Capital
CSR Beneficiaries in FY 2022-23: Approx
66,766
Intellectual Capital
New Projects Launched: 1 (Birla Advanced Knits)
Output
Diverse Workforce
Manufactured Capital
Patents Applied for and Granted: 1 Granted & 1 Pulp & Paper Capacity Utilisation: 95%
Provisional Filing
Textiles Capacity Utilisation: 90%
Real Estate: 1,63,438 Sq. Mt. Constructed Area
Pulp & Paper Production (Paper, Multi-Layer Board,

Tissue Paper, Pulp): 4,55,225 Tons Natural Capital
Textiles Output (Fabric and Bedsheets): 3,37,09,000 Percentage of Sustainable Sourcing: 96% (Pulp
metres & Paper), 11% (Textiles)
Waste Diverted from Disposal: 99% of the
Emissions: Scope 1: 8,03,839.8 MTCO2e | Scope 2:
Waste Generated
1,04,456.16 MTCO2e
Waste Disposal: All waste generated is safely
Waste Generated: 2,94,338.67 MT disposed
Scope 1 Emissions: 7% YoY reduction
Water Withdrawal: 6% YoY reduction
Water Discharge: 6% YoY reduction

Strategic Objectives
CTIL aims to develop and grow in a manner that safeguards the Company’s
growth trajectory and ensures proper functioning through the course of time. Customer
To achieve the same, we have established several strategic focus areas, which Centricity
have been influenced by UN SDGs. The SDGs are the driving force behind our
focus areas, and by working towards our focus areas, we aim to make a positive Sustainability
contribution to society through generating value for all stakeholders.
At CTIL, we are committed to creating long-term value for our stakeholders Responsible
across our three core business verticals: Real Estate, Pulp and Paper, and Textiles. Business
Our strategic focus areas—Customer Centricity, Sustainability, Responsible
Business, Creating Value for Stakeholders, and Innovation—underpin our value
Creating Value
creation model and drive our success. By prioritising these areas, we ensure a
for stakeholders
holistic approach that aligns with our vision and mission, while contributing to the
sustainable development of the industries we operate in.
Innovation
Customer Centricity Key focus areas:

Customer feedback through surveys, focus
Our customers are at the heart of everything we do. In our groups, and social media monitoring
Real Estate vertical, we strive to understand their evolving
needs and preferences, delivering exceptional experiences Market research to identify emerging customer
through quality infrastructure, superior design, and efficient needs and trends
construction. In Pulp and Paper, we focus on responsible Expand the product portfolio as per customers'
sourcing and developing sustainable products that meet our needs and demands
customers' demands. In Textiles, we continuously innovate
Robust customer service and support systems
to offer textiles that align with customer preferences in
to ensure prompt resolution of issues and
terms of quality, design, and sustainability.
enhance overall customer satisfaction
Key focus areas:

Sustainability
Energy-efficient technologies and practices
We recognise the urgent need to address environmental to reduce energy consumption and emissions
challenges. In Real Estate, we actively implement energy- intensity
efficient technologies and explore innovative solutions to
Water management strategies and technologies
minimise our carbon footprint. Additionally, we strive to
to minimise water consumption and promote
implement measures to reuse waste, contributing to a circular
water efficiency
economy and reducing our impact on landfills. In Pulp and
Paper, we embrace responsible and social forestry practices, Waste reduction initiatives, recycling programs,
reduce waste, and optimise resource consumption. In Textiles, and responsible waste management practices
we prioritise eco-friendly materials, water conservation, and Promoting and supporting biodiversity
clean manufacturing processes. By championing sustainability conservation initiatives in collaboration with
in all verticals, we contribute to a greener future and mitigate relevant stakeholders
environmental risks.
Well-being of our people and communities

Key focus areas:

Responsible Business Robust internal controls and
Ethical conduct, transparency, and fairness guide our operations. In Real compliance mechanisms to meet all
Estate, we maintain high standards of corporate governance, ensuring regulatory requirements
transparent dealings with customers and stakeholders. In Pulp and Paper,
Human rights policies and practices
we promote responsible sourcing, environmentally friendly production
throughout the supply chain to ensure
methods, and community engagement. In Textiles, we prioritise fair trade,
fair and ethical treatment of workers
worker welfare, and safe working conditions throughout our supply chain.
Responsible business practices form the foundation of our reputation and Culture of integrity and ethical
stakeholder trust. conduct through training, awareness
programs, and transparent
communication
Creating Value for Stakeholders Key focus areas:
We recognise that the success of our business is intertwined with the well- Continuous stakeholder engagement
being of our stakeholders, Consequently, we place a high priority on the to understand their needs,
well-being of our employees, suppliers, and local communities, striving to expectations, and concerns and
create value for our stakeholders while ensuring their collective welfare. implement the same in decision-
making
In Real Estate, we deliver sustainable returns for our investors while
enhancing the living experience for our customers. In the Pulp and Paper Initiatives that enhance stakeholder
segment, we create value for stakeholders through responsible practices and satisfaction and trust
sustainable product offerings. In Textiles, we provide value to our customers Consistent and sustainable financial
through quality products that are ethically produced and environmentally returns to investors and shareholders
friendly. By actively engaging in industry collaborations and initiatives, we
contribute to the progress of the textile industry as a whole, promoting
sustainability and responsible practices throughout the value chain.
Key focus areas:

Innovation
Technologies to enhance operational
Innovation is key to staying ahead in today's dynamic business landscape. efficiency and reduce environmental
In Real Estate, we embrace innovative designs, construction techniques, impact
and smart technologies to deliver unique and sustainable projects. In Pulp
and Paper, we invest in research and development to enhance production Fostering a culture of innovation
processes, develop sustainable materials, and explore new product lines. In and creativity across all levels of the
Textiles, we leverage innovation in manufacturing, design, and supply chain organisation
management to meet evolving customer needs. By fostering a culture of Innovative products and services that
innovation, we drive growth, enhance competitiveness, and deliver cutting- address market needs and challenges
edge solutions.
Looking ahead, we remain committed to advancing these strategic focus areas. We will continue to invest in customer-centric
solutions, promote sustainability, uphold responsible business practices, create value for our stakeholders, and foster a culture
of innovation. By doing so, we aim to achieve sustainable growth, strengthen stakeholder relationships, and make a positive
impact in the industries we operate in.

Long Term Value Creation: Our goals and targets

and action plans with respect to the strategic
business outlook:
At CTIL, we are committed to integrating Environmental, Social, and Governance (ESG) goals within our six key strategic focus
areas. These goals represent our dedication to sustainable practices, responsible business conduct, and stakeholder value
creation. By aligning these goals with our strategic focus areas, we aim to drive positive impact and contribute to a more
sustainable future.
Customer Centricity: Responsible Business:

Establish a dedicated customer feedback Develop and implement relevant ESG
mechanism, including online surveys, feedback policies that cover environmental, social, and
forms, and customer support hotlines governance standards, providing coherence and
accountability across all business segments
Invest in regular market research to identify
customer preferences and demands Continuously review existing policies and
improve them as applicable to meet evolving
Optimise our existing customer relationship
ESG trends, stakeholder expectations, and
management (CRM) systems to track and
regulatory requirements
analyse customer interactions and feedback
Engage with value chain partners to enhance
Increased collaboration with cross-functional
responsible procurement practices, promote
teams to develop new products and services
ethical sourcing, and ensure shared responsibility
aligned with customer demands
for creating value for stakeholders
Implement customer-centric training programs
to enhance the skills and service mindset of
employees
Establish key performance indicators (KPIs) to

measure and monitor customer satisfaction
levels and address any gaps
Creating Value for
Stakeholders:
Enhance diversity and inclusion across all business
segments to create an inclusive work environment
and improve the diversity ratio
Continually increase the number of beneficiaries of

Sustainability: CSR activities, ensuring a positive social impact on
To reduce Greenhouse Gas Emissions and the communities in which we operate
improve energy efficiency in operations Prioritise occupational health and safety (OHS)
across all business segments to achieve zero harm incidents and create a
To achieve zero waste to landfill and safe working environment for employees and
implement measures to reuse waste across stakeholders
all business segments in due course of time Implement assessments and due diligence
Making all business operation water processes to address human rights issues within
efficient the value chain, ensuring responsible procurement
practices

By integrating these ESG goals within our

strategic focus areas, CTIL ensures a holistic
Innovation: and coherent approach towards sustainable
Embrace innovation in all business segments growth, stakeholder value creation, and
to drive sustainability, such as adopting responsible business practices.
smart technologies, efficient construction Our strategic focus areas also stem out of
techniques, and sustainable materials in real business vision, mission, and values, as well
estate projects as from the inputs provided by internal and
Invest in research and development to external stakeholders of the Company. These
enhance production processes, develop areas help us plan our business strategy
sustainable materials, and explore innovative accordingly and enable suitable resource
solutions in pulp and paper allocation, based on priority.
Leverage innovation in manufacturing, design,

and supply chain management in the textiles
segment to meet evolving customer needs
and stay competitive

Business Opportunities
The focus of CTIL lies in efficiently tapping into the opportunities presented by the external environment of the business.
Moreover, by working towards our strategic focus areas, we fulfil our objective to maintain economic growth, while paying
adequate attention to environmental and social stewardship. As customer demands and expectations continue to evolve,
we have made sure to keep up with the expectations through innovation, responsible business practices, and a sustainable
approach to growth.
Real Estate Pulp & Paper

The real estate market is experiencing a remarkable upswing, For our Pulp and Paper business vertical,
characterised by a surge in property values and a thriving sales the current market trends present several
market. This revitalisation can be attributed to several factors, opportunities that can be capitalised on to
one of which is the increased customer demand for sustainable enhance our business and reputation.
and green buildings. In recent years, there has been a significant
By emphasising on sustainable forestry practices,
shift in consumer preferences towards environmentally friendly
such as responsible tree harvesting and
and energy-efficient properties. People are becoming more
reforestation efforts, we can ensure a steady
conscious of their impact on the environment and are actively
supply of raw materials while preserving the
seeking out sustainable living options. As a result, we are
environment. This commitment to sustainable
responding to this growing demand by incorporating green
sourcing not only meets our customer
features and sustainable practices into our projects.
expectations but also enhances the Company's
Our sustainably certified buildings are designed to minimise reputation as an environmentally responsible
their ecological footprint, promote energy efficiency, and industry player. Additionally, being Forest
utilise renewable resources. They often include features such Stewardship Council (FSC) certified, supports us
as solar panels, rainwater harvesting systems, energy-efficient in providing a competitive edge in the market by
appliances, and advanced insulation techniques. Additionally, assuring customers of the sustainable origin of the
green buildings often prioritise the use of eco-friendly materials Company's products.
and construction methods that reduce waste and minimise
The adoption of renewable energy sources, such
harmful emissions. Other key opportunities within real estate
as solar, biomass presents an opportunity for our
can be clubbed as:
Pulp and Paper vertical to reduce carbon footprint
Mixed-Use Developments: Creating mixed-use developments and operating costs. Furthermore, we have also
that combine residential, commercial, and recreational spaces. implemented waste reuse initiatives, such as using
residual biomass from the production process as a
Smart Home Technologies: With the rapid advancements in
source of bioenergy or converting waste products
technology, integrating smart home technologies can enhance
into value-added materials.
the value proposition for real estate projects.
By developing and implementing technologies
that reduce the use of chemicals, we can
minimise our environmental impact and improve
the sustainability of our products. For example,
exploring alternative bleaching methods that
require fewer or no chlorine-based chemicals
can be both environmentally friendly and cost-
effective. Additionally, reducing the amount of
packaging material used in product packaging can
lower production costs, optimise transportation
efficiency, and align with the increasing consumer
demand for sustainable packaging solutions.

Textiles
We are expanding our portfolio in Man-made
Cellulose Fibres (MMCF) such as viscose, modal,
and lyocell, which are derived from natural materials
like wood pulp or bamboo and adding MMCF
to the product portfolio diversifies the range of
fibers offered by the Company. By offering MMCF
alongside traditional natural fibers like cotton. The
vertical can position itself as a comprehensive and
versatile supplier. Also, the production process for
MMCF generally requires less energy and produces
fewer greenhouse gas emissions compared to
synthetic fibers. For Textiles business vertical we
have also entered in power purchase agreements
for increasing the contribution of renewable energy
consumption.

Internal and External

Environment
r isks Ris
ed k m
a lis o
ri
ni
te
to
ma
rin
Risk Risk
g an
ng
Managi
Identification Assessment
d review
Risk Risk
Response Profiling
Ris l
ke
scalat o ntro
i on a n d c
Risk Management
By implementing Enterprise Risk Management (ERM), we hope to improve and formalise risk management
procedures at the corporate level, reduce risks in a planned and systematic way, and increase the trust of our
wide range of stakeholders. The Risk Management Committee is the driving force behind the ERM framework
and monitors its effectiveness. It keeps track of the enterprise risk management process' overall efficacy. By
approving roles and duties for all stakeholders, the Board of Directors has established the expectations for ERM.
Additionally, it keeps in close contact with the Central Risk Office for major adjustments and crucial business
decisions. The Central Risk Office, which is now supervised by the CFO, is in charge of enabling the creation,
implementation, and monitoring of risk management across the organisation. Each unit and business division are
in charge of determining the likely hazards in its particular field of activity, which are subsequently escalated to
management. Owners of risk and mitigation are in charge of overall ERM accountability.

Risk Governance Structure

Board Of Directors
Audit Committee Risk Management Committee
Internal Audit Central Risk Office (CTIL)
DCRO DCRO DCRO
Risk Owners Risk Owners Risk Owners Risk Owners
Mitigation Owners Mitigation Owners Mitigation Owners Mitigation Owners
Divisions Head Office

The table presented below outlines the high-category risks (and one extreme category risk)
identified at CTIL, along with their descriptions and the corresponding mitigation plans
formulated by the Company to effectively manage these risks
CTIL
Risk Description Mitigation
Cyber-attacks on the Company Short Term

Cybersecurity
could result in possible losses
Educating and Training people
for the Company through the on vulnerability to cyber-
use of out-of-date systems and attacks
new work-from-home / remote
Firewall installed
working environments
Operating system upgraded
Cyber insurance policy in

place
It is possible that the business Short Term

Technology Risk continuity and disaster recovery
SAP drill conducted once
plans won't work when needed every 6 months
There is no Data Leakage BCP to be formalised
Prevention (DLP) mechanism in
place to track any organisational USB’s blocked across the
organisation
data leakage
MS Intune installed
Firewall for social media

blocking
Real Estate
Short Term
Operational Risk The completion of projects may be
delayed by the need for approvals Pre-construction trackers in
and procedural challenges brought place
on by excessive delays from Review conducted every 15
government departments days of local regulation
Best in class liason consultants

Pulp and Paper
Inability to meet the price/quality Short Term

Technology offered by competitors due to Technology upgradation and
Risk obsolete technology installation of new technology
Short Term
Inadequate capacity may lead to
Capacity loss of opportunity Capacity expansion
Upgradation and expansion
Long Term
Continuously looking for

opportunities
Inadequacy or absence of raw Short Term

Raw Material
material has the potential to
Securitisation Increasing green coverage and
impact operations planting trees
Cost of High cost of production can Short Term
Production reduce profit margins Reduce cost of Chemicals and

Packaging
Textiles
Expansion Insufficient plant capacity Short Term

Risk and narrow product range
Printed Products added
concentration in home textile
vertical leading to lower overall Outsourcing model
profitability of vertical

Stakeholder Engagement
At CTIL, we see our stakeholders as allies in the process of generating long-term value. Therefore, achieving our
strategic goals depends on effective and continuous stakeholder involvement. With an inclusive and integrated
process, we aim to strike a balance between the needs, interests, and expectations of the business and those of
our stakeholders.
In accordance with the board-endorsed strategy on stakeholder engagement, CTIL has developed an organised
structure for drawing in with its stakeholders and cultivating relationship with each one of them. The Company’s
approach is moored on the standards of materiality, fulfilment, and responsiveness. CTIL’s stakeholder identification
and engagement strategy has evolved over the years, through continuous inputs from board members, employees,
and other stakeholders. The stakeholder identification strategy that we followed is highlighted below:
Stakeholder identification strategy of CTIL
Collection of response
Identification of the from identified stakeholder,
Identification and
mode of engagement understanding their
Prioritisation of key
with the key expectation, and developing
stakeholder groups
stakeholder groups action plans to address their
concerns
Based on their importance, influence, and impact on our business verticals, we have identified our major stakeholders. This
exercise was carried out in order to identify the gaps and create strategies to improve our relationships with the stakeholders.
Our identified key stakeholders include the following:
Our Key Stakeholders

Regulatory
Investors and Customers/
Bodies/
Shareholders Consumers
Government
Supply Chain
Community Employees
Partners

Stakeholder Expectations and Value Creation
Significance of CTIL Approach

Stakeholder Medium of
Relationship With Key Expectations to Stakeholder
Group Engagement
CTIL Satisfaction
Employees are the Fair wages and Emails and Timely salary payments
backbone of our equal opportunities meetings Safe working
business. Their Work-life balance Periodic environment
Employees
efforts are key in Training and appraisals E-learning and
Continuous implementing our upskilling Grievance development
Engagement plans and sustaining Decent career redressal programmes
corporate growth. growth mechanisms Awareness programmes
Rewards and Employee on mental health and
recognition engagement wellness
Physical and mental programs Robust rewards and
well-being recognition schemes
Occupational health Family connects
and safety
Engagement with Livelihood creation Engagement Community-centric

communities drives and adequate surveys infrastructure
CTIL towards opportunities Training and development initiatives
Community favourable working Improvement workshops Organising regular skill
Continuous conditions that in overall living Regular meetings development programs
Engagement guarantee social standards Emails and Quality education
acceptance and Water and telephonic opportunities
harmony, and sanitation facilities conversations Providing opportunities
positive impact in Infrastructure Need assessment for livelihood
areas where we development surveys Continuous CSR
carry out operations, Training and CSR reports initiatives
with respect to the inclusive growth
economy, society, and Environmental-
the environment. friendly operations
Our supply chain Long-term Emails and Continuously reviewed

partners give us commitments with meetings procurement policy
Supply Chain operational sway to business partners Training Ethical and transparent
Partners improve the value Value creation workshops and operations
Continuous chain, be more Timely payment seminars Preference given to local
Engagement affordable, sustainable, Good deals/pricing Supplier suppliers
and customer-centric. Continuity of orders assessment and Timely assessment and
review audits
Supplier Supplier development
grievance initiatives
mechanism

Significance of CTIL Approach

Stakeholder Medium of
Relationship With Key Expectations to Stakeholder
Group Engagement
CTIL Satisfaction
Shareholders and Consistent return Annual general Continuous monitoring

Investors provide on investments and meetings and improvement of
financial capital profitable growth Quarterly performance
Shareholders
which is essential for Timely disclosures investor Increase focus on cost
and Investors
the growth of the and compliance conferences optimisation and value
organisation. Continuous One-on-one added products
Quarterly
Engagement operational engagements Ethics and transparency
performance Annual reports
Updated corporate
governance
framework
CTIL engages with Compliance to Emails and letters Frequent

regulatory bodies to regulations Regular meetings communication
properly understand Tax and royalties Policy updates Regulatory compliance
Regulatory
compliance and takes Pollution prevention and ministry Timely payment of taxes
Bodies and
measures to alter directives and royalties
Government
business practices Mandatory Adopting cleaner energy
Periodic/ as per regulatory filings with key sources
Annual changes. Moreover, regulators
engagement governmental Annual reports
organisations Conferences
provide CTIL with Industry forums
the required licences
and authorisations to
continue its business in
a sustainable manner.
Our customers give Sustainable product Regular business Ensuring sustained high
us the opportunity to offerings and interactions quality of products
establish long-lasting, solutions Virtual sessions Integrating proper
Customers
mutually beneficial Product quality and Customer feedback mechanisms
partnerships so that fair pricing satisfaction Prioritising customer
Quarterly
Engagement CTIL can achieve Post-sales support surveys satisfaction
and maintain market Product safety Grievance Providing innovative
leadership in specific redressal solutions
sectors. Additionally, mechanism Diversifying product
they enable business Exhibitions and offerings as per
continuity and are trade fairs customer demands
actively involved in Advertising Adherence to regulatory
developing novel campaigns and voluntary
solutions to present- disclosures
day problems.
Moreover, our
customers drive us to
improve the quality
and prices of our
products.

Materiality Assessment
In line with our commitment to ESG principles, we have undertaken a comprehensive
materiality assessment exercise to identify the key areas of focus for our businesses. This
process involved a three-step approach to determine the topics that are material to our
operations in the real estate, pulp and paper, and textiles industries.
Process of determination of material topics
Determine the material topic Prioritise the material topics Prepare a materiality matrix
that are pertinent to our based on the ratings by representing significance of
Company’s operations. the stakeholders through a material topics to stakeholders
structured questionnaire. and business aspects.
By evaluating the potential impact of various

issues, we have identified the material issues that
are applicable across all three of our businesses.
In this report, we present a detailed overview of
these material issues and the measures we have
implemented to address them effectively.
The ESG priorities identified through revisiting

our material topics have guided our continuous
efforts to improve and deliver sustainable
outcomes. These priorities were identified based
on inputs from a diverse range of stakeholders,
including customers, investors, supply chain
partners, government and regulatory bodies,
employees (including contract employees), and
community representatives.
The findings of the materiality exercise have

been instrumental in shaping our approach to
addressing ESG concerns. They have provided
us with a comprehensive understanding of the
areas where we can make a meaningful impact
and drive positive change. Our ongoing efforts
are aligned with these priorities and are aimed
at mitigating risks, capturing opportunities, and
creating sustainable value for all stakeholders.

Materiality Assessment Matrix
Empowering Decarbonisation
Communities
Climate change Adaptation
High
Occupational Health and Safety
Water Resilience
Waste Management
Importance to Stakeholders
Supply Chain management Corporate Governance
Talent Management Strategic Stakeholder

Medium
Engagement
Biodiversity Management
Customer Experience
Human Rights (Diversity and

Inclusion
Low
Low Medium High

Importance to Business Aspect
The findings of this materiality and business conduct priorities with the Company's commitment to
assessment can be categorised into the current business landscape and sustainable business practices. Upon
critical (high priority), progressive operational context. Discussions with evaluation, no significant changes
(medium priority), and nascent (low the leadership team and extensive
in the business landscape or CTIL's
priority). These topics are mapped research, including analysing peer
operations were identified that would
according to the verticals of E, S, and assessments and trends from ESG
require a revision of the material
G, along with linkages to relevant indices and frameworks, were
topics previously identified, reinforcing
SDGs and initiatives taken by CTIL to conducted during the revisitation
address these material topics. process. This ensured that CTIL's the Company's consistent and
materiality assessment remained focused approach towards addressing
We decided to revisit the material
comprehensive and in line with existing sustainability challenges and
topics identified in the previous year's
the latest sustainability priorities opportunities as compared to the
assessment to align our sustainability
and challenges, demonstrating previous year.

Environmental Material Topics
Material Topic GRI Indicators SDG Alignment IR Capital Alignment

302
Decarbonisation 7, 12, 13, 15
305
Climate Change Adaptation 201-2 11, 13
Water Resilience 303 6, 12
301
Waste Management 6, 12, 15
306
Biodiversity Management 304 6, 15
Social Material Topics GRI Indicators SDG Alignment IR Capital Alignment
402
Occupational Health and Safety 3, 8
403
405
Human Rights (D, E, I) 5, 10
406
308
Supply Chain Management 5, 8
414
401
Talent Management 4, 5, 10
404
416
Customer Experience 417 3, 9, 12
418
Empowering Communities 413 3, 4, 5, 6, 8, 9, 10
Governance Material Topics GRI Indicators SDG Alignment IR Report Mapping
Corporate Governance 2 16
Strategic Stakeholder Engagement 2-29 16 SEMA
Navigation: The Capitals:
Financial Capital Manufactured Capital Social & Relationship Capital
Natural Capital Human Capital Intellectual Capital

Our
Capitals
56 Financial Capital
58 Key Highlights
59 SDG Linkages
59 Linkages with other Capitals
64 Manufactured Capital
66 Key Highlights
66 SDG Linkages
78 Human Capital
80 Key Highlights
80 SDG Linkages
94 Natural Capital
96 Key Highlights
03
97 SDG Linkages
124 Social & Relationship

Capital
126 Key Highlights
127 SDG Linkages
140 Intellectual Capital

142 Key Highlights
142 SDG Linkages

Financial
Capital
Introduction to Financial Capital
Driving Value, Building CTIL recognises the significance of financial capital in establishing a solid
Resilience: Nurturing Financial groundwork for the organisation. Our core principle is cost optimisation
Growth for Sustainable and sustainable profitability. By identifying and investing in promising
opportunities, we strive to generate returns that create lasting value
Success
for our stakeholders. We strategically allocate capital across our various
business verticals to fortify our financial position and enhance our
business and operational efficiencies.


Key Highlights – Financial Capital FY 2022-23
Expenditure in
Revenue: Debt to Equity Ratio:
R&D:
` 4,827.17 Crores 0.26
` 4.35 Crores
Net Worth: Market Capitalisation: Profit before tax:

` 4,038.95 Crores ` 7,081 Crores ` 406.25 Crores
Debt Service Coverage

Debts: Interest Service Ratio:
Ratio:
` 1,037.71 Crores 6.08
0.74
Operating Margin: Net Profit Margin:

6.26% 5.51%
Revolutionising MMCF Knit Fabrics: Birla Advanced Knits Pvt. Ltd.
Introducing Birla Advanced Knits Pvt. Ltd., a ground-breaking initiative born out of a
joint venture between Century Textiles and Industries Ltd. and Grasim Industries
Ltd. Starting from 1st April, 2023, this state-of-the-art facility is commissioned to
manufacture man-made cellulose fibre (MMCF) knit fabrics. With the MMCF
vertical witnessing unprecedented growth and a significant demand-supply
mismatch in India, this strategic partnership enables us to address the challenge
head-on. By leveraging group synergies and tapping into the Indian and
international knits markets, Birla Advanced Knits is set to revolutionise the
industry, driving growth, innovation, and customer satisfaction.

SDG Linkages
Linkages with other Capitals
Natural Capital:
Strategic investments in energy-saving and conservation initiatives to optimise operational
costs and enhance financial performance.
Intellectual Capital:
Allocating resources to research and development (R&D) to develop innovative products
and technologies that drive revenue growth and competitive advantage.
Social and Relationship Capital:

Investing in community expenditure and corporate social responsibility (CSR) initiatives to
strengthen brand reputation, and stakeholder trust leading to long-term financial stability.
Human Capital:
Prioritising investments in employee learning and development programs and attractive
benefit schemes to attract and retain top talent, ultimately enhancing productivity and
financial returns.
Manufactured Capital:
Upgrading technology and optimising production processes to improve operational
efficiency, reduce costs, and maximise profitability.

Revenue Generation at CTIL

Revenue Generation in Crores (`)
4,174.01 4,827.17
Maximising year-on-year revenue growth is a fundamental driver of
our thriving and prosperous business. By wholeheartedly embracing a
customer-centric approach and steadfastly upholding our core values, we
have achieved an outstanding 16% surge in revenue, firmly establishing
ourselves as a formidable presence in the market.
FY 2021-22 FY 2022-23
CTIL’s all three business verticals play value of ` 2,183 Crores, reflecting on health since the pandemic, and
a pivotal role in driving the Company’s a 14% increase compared to the hence, demand for tissue papers has
overall revenue by leveraging previous fiscal year of 2021-22. been constantly on the rise.
innovative business practices and
In FY 2022-23, the pulp and paper The Textile division’s revenue has
staying attuned to market trends.
vertical achieved remarkable results, remained, more or less, constant
The Real Estate business is currently generating a revenue of ` 3,571.71
at ` 951 Crores in FY 2022-23.
engaged in five residential projects, Crore, which represents a substantial
Despite potential challenges
exhibiting its dedication to providing year-on-year growth of 27%.
such as raw material scarcity and
trusted real estate solutions to its These outstanding outcomes were
supply chain disruptions, the
customers. In the fiscal year 2022- primarily driven by robust demand
23, the business achieved a total observed in pulp and paper vertical. textiles business has showcased
revenue of ` 137 Crores, with a The continuous improvement of the resilience and adaptability,
significant portion of ` 110 Crores business’ performance is owed to the ensuring continued success. These
stemming exclusively from the leasing maintenance of demand from sectors financial achievements reflect
of commercial projects. Additionally, like schools, offices, etc. Additionally, the organisation’s dedication, and
the business recorded a total booking there has been an increased emphasis strategic decision-making.
EBITDA
EBITDA, or earnings before interest, taxes, depreciation, and amortisation, is a measure of profitability that is different from net
income. EBITDA attempts to represent cash profit generated by the Company’s operations by excluding non-cash depreciation
and amortisation expense, as well as taxes and debt costs based on the capital structure. The EBITDA for CTIL for FY 2022-23
stood at ` 687 Crores and portrayed an increase of 38% from the previous year.
EBITDA in Crores (`)
498 687 CTIL’s EBITDA witnessed a substantial increase, rising from ` 498 Crores in
FY 2021-22 to ` 687 Crores in FY 2022-23. This represents a remarkable
growth of approximately 38% in EBITDA year-on-year. The significant
increase in EBITDA highlights the Company’s strong financial performance
and reinforces its ability to generate higher operating profits during the
specified period.
FY 2021-22 FY 2022-23

Cost Management and Efficiency

At CTIL, we place great importance on
cost management efficiency as part of Below are some of the examples highlighting how
optimising our financial capital. Within we are driving efficiency and cost optimisation
our diversified business verticals of Real across business verticals:
Estate, Pulp and Paper, and Textiles, we
recognise the distinct cost dynamics and At Real Estates: Efficient Project Delivery through Scalable
challenges. In the Real Estate sector, we Outsourcing Model
prioritise cost control in construction and At Real Estates, we have adopted a highly scalable outsourced
development. For Pulp and Paper, our model to ensure efficient project delivery. With a strong emphasis
focus is on maximising the efficient use on timeliness, quality, and safety, we collaborate with Grade “A”
of raw materials. In Textiles, we strive for execution partners. The execution of projects is entrusted to
effective supply chain and production cost appointed contractors who operate under the vigilant supervision of
management. CTIL. Rigorous planning, coupled with thorough internal checks and
safety tests, guarantees the achievement of both superior quality
Process:
and cost efficiency in our endeavours.
In our efforts to optimise financial capital,
we leverage cost analysis to identify Pulp and Paper: Streamlined Cash Management and
significant cost drivers and areas for Enhanced Efficiency
improvement. Through strategic sourcing, At Pulp and Paper, we are committed to continuously enhancing
process optimisation, and efficient our cash management practices and maintaining a lean and healthy
resource allocation, we continuously seek financial position. Throughout the year, we have implemented
to reduce costs while upholding quality several initiatives to achieve this objective. Our focus areas include:
and productivity standards. By diligently
monitoring cost structures, we enhance Revolutionising vendor liquidity by introducing a novel bill
our competitive advantage and ensure the discounting scheme
long-term financial sustainability of each Enhancing Cash Flow Vigilance: In-Depth Analysis of Cash Flow
business vertical. Items to Bolster Refunds, Claims, and Non-Trade Receivable
Comprehensive reviews of project financials with long-term

payback periods
To reduce costs, we have implemented strategic measures to

increase efficiency in the pulp and paper business. One major focus
has been on reducing chemical usage throughout the manufacturing
process. By carefully analysing and fine-tuning our chemical
application practices, we have achieved significant cost savings while
maintaining product quality and integrity. Additionally, we prioritise
making our packaging more efficient by experimenting with new
designs and materials that reduce waste.
To improve working capital management, we have implemented

robust systems and processes. Initiatives include just-in-time
inventory management, optimum management of finished and semi-
finished goods inventory and leveraging economical alternatives for
non-core items.
Textiles: Power Purchasing Agreement for Operational

Cost Efficiency
In the Textiles vertical, where energy is a significant input for
operations, we have entered into a power-purchase agreement for
the supply of 3 MW of renewable energy. This strategic initiative not
only helps reduce power costs but also maintains operational cost
efficiency and contributes towards our sustainable agenda.

Shareholder Value Creation

We focus on maximising shareholder profits through efficient use of our capital and resources. To achieve this, strategic choices
are made with long-term sustainability, growth, and profitability as top priorities. It necessitates careful resource allocation,
intelligent financial management, and a dedication to generating value for shareholders through effective operations, cutting-
edge tactics, and astute financial decisions. In the end, shareholder capital maximisation ensures that shareholders’ interests and
investments are given the highest respect, cultivating confidence, loyalty, and ongoing support from the investor community.
Through our strategic efforts, our market cap is maintained at ` 7,082 Crores. We also improved our debt to equity ratio to
0.26 as compared to 0.34 of previous year.
CTIL undertook various initiatives to bring efficiencies in all elements of its working capital management during the year. The
current ratio is improved to 1.16 as compared to 1.07 of previous year.
Economic Value Creation

Economic Value Creation (EVC) evaluates a business as an investment with a requirement to deliver a specific return on
invested capital. EVC encompasses two main components: Economic Value Generated (EVG) and Economic Value Distributed
(EVD). EVG measures the Company’s revenue inflows, while EVD represents the outflows in the form of payments to internal
and external stakeholders. The fundamental principle of EVC is to assess profitability and quantify the additional wealth
generated for shareholders by subtracting EVD from EVG. This approach enables organisations to gauge their ability to create
value and generate returns that surpass the costs associated with distributing value to stakeholders.
Particulars FY 2022-23 ₹ In Crore

Revenue 4,799.65
Other Income 27.52
Direct Economic Value Generated (A) 4,827.17
Operating Costs 4,149.39
Employee Benefits 344.83
Payment to Providers of Capital 53.89
Payments to Governments 141.70
Community Investments 5.18
Share of Loss of JV 1.84
Economic Value Distributed (B) 4,696.83
Exceptional Items 134.21
Economic Value Retained (A-B) +Exceptional Items 264.55
Table: Economic Value Generated

Tax and Financial Strategy

CTIL’s market presence has various economic impacts, both direct and indirect. The Company’s operations in the Real Estate,
Pulp and Paper, and Textiles sectors have led to an increased sense of competition in these areas, leading to the advancement
of these sectors. Moreover, paper and textiles are basic necessities for the operations of various businesses, and hence the
products of the Company indirectly support the economy.
The Company ensures timely payment of all taxes and statutory payments and follows the letter of the law to the fullest. To
ensure proper adherence to all tax matters and maintain regulatory compliance, CTIL has developed a well-functioning tax
strategy, which is reviewed periodically by the finance committee. CTIL’s tax approach ensures that the Company follows
all regulations pertaining to tax or compliances, which enables the Company to maintain a healthy business practice and
good reputation in the market. The tax strategy is implemented across all business segments, and the Company ensures
proper accounting of all taxation matters to reduce any tax related risks. The finance committee and the audit committee are
responsible for monitoring any changes in regulations and the tax strategy is updated according to changes in regulations.
Additionally, no benefits are derived from governments by CTIL.
CTIL recognises its role in addressing and engaging with its stakeholders on all matters, including tax related matters and
business conduct. To this end, we have open communication channels with our stakeholders through which they can provide us
with feedback, address topics of concerns, and other grievances. They can do this through reaching out to authorised company
representatives or through channels on the Company website. The only tax jurisdiction for CTIL is India, where the entity
also pays advance tax. The Company’s annual report has a tax disclosure that is assured through statutory auditors. Monthly
statutory payment compliance certificates are provided by a practicing-chartered accountant to ensure that all reporting and tax
payments are accurate and compliant with the laws.
Concluding remarks:
By employing strategic financial planning, CTIL has consistently upheld a strong financial position.
Our focus on optimising resource allocation, coupled with prudent risk management, has
resulted in sustainable growth and resilience within the highly competitive market we
operate in. The Company’s robust financial performance is a testament to our ability to
generate significant revenue, improve profitability, and enhance cash flows. These
achievements reflect the soundness of our financial management practices
and underscore our commitment to delivering long-term value to our
stakeholders.
Looking ahead, we remain steadfast in our commitment to

optimising financial capital for sustainable growth. We will
continue to closely monitor market trends, embrace
emerging financial technologies, and proactively adapt
to potential risks and opportunities. By doing so,
we are confident in our ability to maintain our
competitive edge and drive long-term
success.

Manufactured
Capital
CTIL employs top-quality construction contractors, processes and
materials in its Real Estate business. It has superior manufacturing facilities
Building Excellence, Shaping in the Pulp & Paper, and Textiles sectors and the consistently growing
Sustainable Solutions: Crafting client base, both domestically and internationally, serves as a testament to
a Future of Responsible the Company’s success in meeting customer needs.
Manufacturing CTIL has been delivering value-added products and meeting customer
needs through its manufacturing facilities and sustainable construction
operations. We aim to provide customers with the best-in-class services
by investing in state-of-the-art manufacturing plants and equipment using
non-toxic chemicals, and eco-friendly production techniques.


‘Key Highlights- Manufactured Capital FY 2022-23’

Real Estate Development Manufacturing capacity Manufacturing capacity
5 Residential projects Pulp and Paper Textiles
2 Commercial projects 4,81,130 Ton per 41 million meters per

annum annum
Area under development Capacity Utilisation Capacity Utilisation

Real Estate Residential- Pulp and Paper Textiles
Over 67 lakhs square feet 95% 90%
Commercial-
12.7 lakhs square feet
SDG Linkages

Financial Capital:
Consistent investment in production and construction processes, ensuring a stable financial
foundation for our operations.
Natural Capital:
Responsible consumption of resources in real estate construction, textile manufacturing, and paper
production, managing our natural capital with environmental sustainability in mind.
Exploring and implementing innovative practices and technologies to upgrade our manufacturing
processes, fostering a culture of continuous improvement, and staying ahead in our industry.

Robust Infrastructure to Meet Customer Needs:

Real Estate Construction and Development
The Real Estate vertical of CTIL is dedicated to developing high-quality residential and commercial properties. It differentiates
itself from competitors by prioritising efficiency in design, customer-centric approach, and sustainability.
We are actively involved in developing the extensive project portfolio through strategic planning by identifying prominent
markets across various cities in India.
Current Projects
Birla Vanya Birla Niyaara Birla Navya

Kalyan, Maharashtra Worli, Mumbai Golf Course Extension,
13.3 lakhs Sq. Ft Area under 24 lakhs Sq. ft Area under Gurugram, NCR
development development 17.8 lakhs Sq. Ft Area under
Birla Alokya Birla Tisya

Whitefield, Bengaluru Rajajinagar, Bengaluru
5.5 lakhs Sq. Ft Area under 6.5 lakhs Sq. Ft Area under
development development

Building Sustainable Homes:

The implementation of sustainable practices and features
demonstrates the Company’s strong dedication to environmental
responsibility. All our projects are pre-certified green buildings by India
Green Building Council (IGBC). The flagship project Birla Niyaara is
the first residential project in India to be United States Green Building
Council (USGBC) Platinum pre-certified, and for Birla Niyaara we have
targeted ‘Building Research Establishment Environmental Assessment
Methodology (BREEAM) Outstanding Certification’ rating which is the
highest possible level and has become the first project in India to go
for this certification.
Revitalising Commercial Properties for Businesses:

Birla Estate owns two commercial properties in Mumbai, namely Birla
Aurora and Birla Centurion, both of which hold India Green Building
Council (IGBC) Platinum certification. These buildings span a combined
area of 12.70 lakhs square feet. They prioritise the optimal utilisation
of natural resources, including water, electricity, and other essentials,
while generating minimal non-biodegradable waste.
The incorporation of sustainable concepts, such as intelligent lighting

systems, the reuse of recycled water for toilet flushing, energy-efficient
LEDs and CFLs instead of traditional incandescent lamps, and energy-
saving appliances, distinguishes these buildings as green in comparison
to conventional structures.
To enhance the energy efficiency, we employ double-glazed, Low-E,

high-performance glass facades that minimise thermal radiation
and maximise natural light utilisation. Furthermore, we implement
Integrated Building Management Systems to regulate and monitor
HVAC equipment, ensuring energy-efficient operations.
Project Certifications Location

Birla Centurion IGBC Platinum Certified Mumbai
Birla Aurora IGBC Platinum Certified Mumbai
Birla Vanya IGBC Gold Pre- Certification Mumbai
Birla Niyaara USGBC Platinum Pre- Certification Mumbai
Birla Navya IGBC Gold Pre- Certification Gurugram
Birla Tisya IGBC Platinum Pre- Certification Bengaluru
Birla Alokya IGBC Gold Pre- Certification Bengaluru
Next-Level Living: Powered by Technology

The projects have been developed in line with technological trends such as robotic process automation (RPA), artificial
intelligence (AI), and the Internet of Things (IoT). Leveraging these technological tools, the Company has streamlined
processes, reduced costs, minimised errors, improved productivity, and completed projects on time and within budget. The
Company uses technological tools like Building Information Modelling (BIM) that allows multiple stakeholders to collaborate
on a project, facilitating better communication, clash detection, and efficient decision-making throughout the design and
construction process.

Pulp and Paper Manufacturing

Our manufacturing plant in Lalkua, Uttarakhand district of Nainital, spans across 396 acres of land with a production capacity
of 4.81 lakhs MT per annum. In addition to our main facility, we have strategically positioned board and tissue cutting facilities,
including quick service centers in Baddi, Sonipat, Bharuch, Hyderabad, and Lalkua.
Diverse Product Offerings:

Our expertise lies in the production of fine Writing & Printing Paper, including MICR Cheque, Overlay Tissue, Maplitho and
Copier, as well as virgin fiber grade soft tissue including Facial Napkin, Kitchen, Toilet and Carrier tissue. Additionally, we are one
of the leading manufacturers of Multilayer Packaging Board, supplying Folding Box Board (FBB), Solid Bleached Sulfate (SBS), Cup
Stock grades. Our commitment to innovation extends beyond conventional paper products, as we also produce Century Green
pulp, a unique and eco-friendly variant that finds applications in tableware items.
Century Green Pulp and Its Significance:

One of the notable highlights of our operations is the production of “Century Green pulp”. Century Green Pulp is derived from
bagasse using advanced molding technology. This pulp is specifically utilised in manufacturing tableware items, showcasing our
commitment to manufacture and invest in sustainable products. By promoting the use of pulp to produce tableware items, we
actively contribute to reducing environmental impact and promoting the use of biodegradable materials. The tableware produced
from this green pulp not only meets the strict regulations set by the Food and Drug Administration (FDA) but also complies with
the guidelines prescribed by the Food Safety and Standards Authority of India (FSSAI) for food packaging products.
Empowering growth through our key products:
Printing & Writing Paper Industrial Paper & Packaging Tissue Paper & Rayon Grade
We produce a range of writing Board Pulp
and printing papers which is We also manufacture paper We are one of the largest and
used for making notebooks and for industrial purposes such as most advanced manufacturer of
envelopes. Packaging, Wrapping products, Tissue paper rolls in India. We
We design papers specially for carboard and tissue. also have facial tissue, towel,
printing books and notebooks It is in high demand in FMCG napkin and Toilet Tissue.
for large publishing houses. sector, pharmaceutical and food Rayon grade pulp is also a major
industry as well. product used by large number of
consumer applicaitions.
Through the application of cutting-edge engineering and technology, our pulp and paper plant excels in the creation of high-
quality products that cater to the international market.
The pulp manufacturing process involves transforming raw materials, such as wood or recycled paper, into pulp, which serves
as the basis for paper and other paper-based products. The process typically includes steps like debarking, chipping, and
pulping, where the raw materials are broken down into fibers. This is followed by refining, where the fibers are further treated
to enhance their quality. The pulp is then cleaned, screened, and sometimes bleached to remove impurities and achieve the
desired characteristics. Finally, the pulp is formed into sheets, dried, and processed into various paper products. Throughout
the manufacturing process, sustainability measures, such as responsible sourcing, efficient resource utilisation, and waste
management, are implemented to minimise environmental impact and promote a more sustainable paper industry.

Pulp manufacturing Paper products from Pulp
Raw Material Preparation: Pulp Manufacturing:

Debarking: Removal of bark from logs or Follow the steps mentioned in the ‘Pulp
wood chips. Manufacturing Process’ to produce pulp.
Chipping: Chopping the logs or wood chips
into smaller pieces. Paper Machine:
Pulping: Follow the steps mentioned in the ‘Paper
Machine’ section of the ‘Pulp Manufacturing
Mechanical Pulping: Grinding the wood chips Process’ to produce a continuous paper web.
or logs to separate the fibers.
Chemical Pulping: Treating the wood chips Converting:

or logs with chemicals to remove lignin and
separate the fibers. Slitting and Cutting: Slitting the paper web
into smaller rolls or sheets.
Refining: Printing: Adding desired designs, text, or

Mechanical Refining: Further treatment patterns onto the paper surface.
of the fibers to enhance their quality and
improve paper characteristics. Folding and Creasing:
Cleaning and Screening Folding the paper into desired shapes or
creating creases.
Removing impurities and contaminants from
the pulp. Binding and Finishing: Adding binding
elements, coatings, or other finishing touches
Screening the pulp to achieve desired fiber to the paper products.
size and consistency.
Packaging and Distribution:
Bleaching: Packaging the finished paper products
Whitening the pulp by removing residual for protection and easy distribution to
lignin and other color-causing substances. customers.
Paper Machine:
Forming: Distributing the pulp onto a moving
wire mesh to create a continuous paper web.
Pressing: Removing water from the paper

web by pressing it between rollers.
Drying: Thoroughly drying the paper web

using heat and/or air.
Calendering (Optional): Smoothing and

enhancing the surface properties of the
paper.
Reeling: Winding the dried paper onto large

rolls for further processing or cutting.
Diagram – Pulp and Paper Products from Pulp – Manufacturing Process

We have acquired the following certifications that showcases our dedication to excellence in production:
Certifications
ISO 9001 Quality Management Systems (QMS)
ISO14001 Environmental Management Systems (EMS)
ISO 45001 OH&S management system
FSC C104223 Forest Stewardship Council
The Company’s commitment to quality is evident in its production processes, which include a rigorous quality control system
that ensures only the finest materials are used in the manufacturing of its paper products. Pulp and Paper creates high-quality
papers that satisfy the demands of domestic and international customers facilitated by cutting-edge machinery and equipment.
Sustainable Solutions by Pulp & Paper to reduce plastic consumption of end-user

‘Paper Power: Sustainable Solutions for a Plastic-free World’
We are dedicated to reducing plastic waste and promoting environmental stewardship by developing innovative paper-based
alternatives for packaging and products. By leveraging the versatility, renewability, and recyclability of paper, we offer eco-
friendly packaging options that not only protect products but also the planet. Through significant modifications to certain
products, we have successfully reduced 20,049 metric tons of plastic waste in FY 2022-23. Our commitment to sustainability
drives us to continually seek ways to minimise plastic usage and maximise paper’s potential as a sustainable choice.
Below, we present a comprehensive table highlighting the specific products that have undergone modifications, along with their
key features and the corresponding amount of plastic waste reduced as a result. This provides a transparent overview of our
accomplishments and reinforces our commitment to sustainable practices.
Amount of Plastic Waste Reduced

(MT)
Product Product Feature
FY 2021-22 FY 2022-23
CENTURY CUP BOTTOM

2,932 620
BASE PAPER For these products, the plastics have been
replaced with paper.
CENTURY CUP WALL
16,128 10,902
STOCK PAPER
For this product, plastic carry bags have been
CENTURY CARRY PAPER 274 474
replaced with paper bags.
ANTIFUNGAL ARSR Plastic coating has been removed from this

884 1,485
(HWS) PE Free product.
CENTURY NATURA Coating has been replaced with

– 21
BOARD biodegradable material.
This product is used as replacement for

CENTURY GREEN PULP 9,311 6,547
disposable plates and cups.
Through our collective efforts, we aim to drive positive change and contribute to a plastic-free world, where paper emerges
as a preferred, environmentally friendly solution.

Key areas of focus: particularly in terms of steam and biodiversity by distributing clones and
power consumption, as part of our seeds to farmers. This approach has
Our below primary areas of focus
commitment to sustainability. By positive social and economic impacts
align with important aspects of
identifying opportunities to enhance as it supports local farmers and
sustainable development and
energy efficiency, we aim to reduce enhances their livelihoods.
responsible business practices to
our carbon footprint and contribute
optimise resource efficiency and Renewable energy utilisation:
to a greener environment. One
minimise environmental impact: We contribute to a cleaner and more
notable example of our energy-saving
Water reduction through the 3Rs efforts is the increased capacity of sustainable energy mix by increasing
(Reduce, Reuse and Recycle): the IR Dryer on our board machine, our reliance on renewable energy,
which was installed last year. This such as solar, bagasse, boiler fuel, pith
We recognise the critical importance
enhancement not only improves and bioenergy and support the global
of water conservation in building
energy efficiency but also reduces transition toward a low-carbon future.
a sustainable future. Through
steam usage and enhances product Increasing the use of renewable
our dedicated efforts, we have
quality. Additionally, our Precipitated energy sources is an essential
implemented a range of initiatives
Calcium Carbonate (PCC) plant strategy for reducing greenhouse
focused on reducing water
plays a crucial role in environmental gas emissions and mitigating climate
consumption, promoting water
sustainability by consuming CO2 change. We have set up a 2.6 MWp
recycling and reuse, and actively
generated from the lime kiln, thereby solar power plant to increase the
contributing to the efficient and
minimising overall CO2 emissions. share of renewable energy in our
responsible use of water resources.
overall energy consumption and are
These initiatives have yielded Social agro-farm forestry for raw
already using bio mass – pith and
significant results, with over 49 water material sustainability:
other sources of bio mass energy to
conservation projects implemented,
We focus on promoting social generate 7,77,261 MJ of energy.
resulting in substantial water savings
agro-farm forestry to achieve raw
of more than 2,000 KL per hour.
material sustainability. We foster
Improving energy efficiencies: the cultivation of sustainable raw
materials, reducing the dependency
We are dedicated to improving
on traditional sources, and promoting
energy efficiencies in our operations,

Textiles
Our manufacturing plant, situated Our Products:
in Jhagadia, Bharuch, Gujarat, spans
across 100 acres. Our textiles
business offers a wide range of luxury Shirting Finer Fabrics
textiles, including bottom weights, Premium range elite shirting Retailers and garment
suits, finer fabrics, and domestic linen, in elegant designs, waves and manufactures look to the Birla
showcasing our versatility and ability colours is one of the most Century range of fancy and finer
to cater to diverse market needs. popular products from Birla fabrics i.e. dress materials offered
With the inclusion of a pilot sampling Century. in a variety of contemporary
facility, we facilitate efficient product designs, weaves and colours.
development and customisation by
swiftly generating samples.
To ensure the quality and compliance

of our textiles with international
standards, we have established state-
of-the-art mechanical and chemical
laboratories. Through rigorous
testing and analysis, our products
not only meet but exceed customer
expectations and adhere to industry
benchmarks.
In our efforts to embrace

sustainability, we have consumed
61.64 TJ of renewable energy from
renewable resources. Recognising
that electricity and fuel are vital
inputs for our textile operations, we
have entered into a power purchase
agreement to secure a supply of 3 Bottom weight Bed linen
MW of renewable energy and are Birla Century Offers luxury Birla Century is one of the
also using other renewable sources of suiting fabrics (bottom weight leading bed and bath linen
energy, particularly agro-based energy. fabrics) in myriad shades and manufactures in India. Premium
texture to suit every taste. quality household linen from Birla
Century includes a wide range of
elegantly tailored sheets, and bed
and bath coordinate pieces.

Practices for Responsible Lyocell) from sustainable sources,

Product Sustainability and
Sourcing: and BCI (Better Cotton Initiative)
Circular Bioeconomy
certified cotton. This ensures that
The Textiles division demonstrates At our textiles division we have
the raw materials used in our
responsible sourcing practices for raw invested in modern technology
production processes have a minimal
materials through various approaches. and processes to reduce energy
environmental impact and meet social
Here’s a description of some of these consumption, greenhouse gas
responsibility standards.
practices: emissions, and effluent discharge.
Fair trade practices: We promote
Dye chemical replacement State-of-the-art water treatment
fair trade principles in our sourcing
through clean chemistry by ZDHC plants have been installed in our
practices. We support fair wages,
(Zero Discharge of Hazardous manufacturing facilities to eliminate
safe working conditions, and social
Chemicals): We aim to minimise harmful chemicals and recycle water
development for farmers and workers
the environmental impact of dyeing for reuse.
involved in the production of raw
processes by adopting clean chemistry Sustainable practices have been
materials by prioritising fair trade
practices. The Company ensures that implemented in the supply chain,
fibers. Fairtrade practices contribute
hazardous chemicals are replaced focusing on sourcing sustainable raw
to improving the livelihoods of those
with safer alternatives, promoting materials, minimising wastage, and
in the supply chain and promoting
sustainable and environmentally promoting recycling. The Company’s
sustainable economic development.
friendly dyeing practices by working sustainability efforts have garnered
with ZDHC. Currently, the textile Natural fibers: We use natural fibers
recognition from various industry
vertical is using Level-2 and Level-3 such as linen, crop-based fibers, hemp,
bodies, leading to certifications such
clean chemistry standards, with a high and banana fibers. Natural fibers
as the Better Cotton Initiative (BCI),
level of commitment to reducing the are renewable and biodegradable,
Global Recycling Standards (GRS), and
use of harmful chemicals. making them more environmentally
OEKO-TEX.
friendly compared to synthetic
Responsible sourcing of fibers:
alternatives. We, therefore, support
We focus on responsible sourcing
sustainable agriculture and reduce
of fibers, considering factors such
reliance on non-renewable resources
as organic production, regenerative
by incorporating these fibers into our
agriculture, and sustainable
products.
certifications. We demonstrate our
commitment to sustainable and ethical
fiber sourcing by incorporating fibers
such as organic cotton, regenerated
fibers (such as Viscose, Modal, and

Landfill waste diversion by upcycling

In our textiles manufacturing process, we have adopted a new approach to maximise waste utilisation.
Previously, Fly Ash waste was disposed of through landfilling or given to farmers. However, we have now
embraced a more sustainable solution of upcycling the Ash by incorporating this waste into the manufacturing
of bricks. This initiative not only reduces environmental impact but also promotes circular economy principles.
Currently, we are generating 15 metric tons of Fly Ash waste per day. With this quantity, we are able to
produce approximately 7,142 bricks per day, amounting to a total of 2.57 million units per annum.
Over the past 12 months, we have successfully manufactured and utilised a total of 951,930 bricks
incorporating ‘Fly Ash waste’ into its composition. With the help of this initiative, we are able to reduce the
environmental burden as we are reducing accumulation of waste on landfill site and also getting benefit of
product upcycling.

Sustainable Products
We have ingrained sustainability into the very fabric of our operations, firmly adhering to the principles of Reduce, Reuse, and
Recycling. Demonstrating our unwavering commitment to environmental responsibility, we have undertaken numerous projects
aimed at promoting sustainability and fostering a greener future.
Here are a few noteworthy examples of the innovative products we have developed as part of our sustainability initiatives
Neem Tulsi Finish -

Natural and Herbal Dye Range of Recycled
Natural Antibacterial Organic products
Products Cotton Products
Fabric:
Produces colors for the Collaborated with the Actively involved in creating Produces organic cotton,
clothing and home textile Indian startup Joy of Life textiles from recycled hemp, and linen goods.
industries using agricultural to develop a fabric called cellulose fiber, recycled
waste as a source. Neem Tulsi Finish (which polyester, and recycled
uses a patented technology cotton.
developed by them).
Reduce the environmental This fabric incorporates a Approved by Control Union, Compliance with the Global
impact but also utilise low- natural antibacterial finish, recognising their dedication Organic Textile Standard
energy processes. leveraging proprietary to sustainable practices. (GOTS), which is a leading
techniques developed by Certified in accordance processing standard for
Joy of Life. It is one of the with the Global Recycled textiles derived from organic
first products of its kind in Standard (GRS) 4.0 and fibers.
India. Recycled Claim Standard
(RCS) 2.0.
Implementation of Contributes to reducing The Company’s commitment

sustainable practices to waste and promoting a to organic production is
minimise pollution and circular economy by utilising further strengthened by
contribute to the broader recycled materials. their certification from the
goal of sustainable Control Union, validating
development. their adherence to organic
processing standards.

Certifications and standards
Certifications and standards
BS OHSAS ISO ISO EnMS

ISO 17025 SAS: SA8000 LEED
45001:2018 9001:2015 14005:2015 ISO50001:2018
Global Organic Organic

Control Union Better OEKO-TEX, Cotton Egypt
Textile Contents Cotton USA
– Recycled Cotton Fairtrade Association
Standards Standards, Licensee
Claim Standard Initiative (BCI), Certificate (CEA)
(GOTS), SUPIMA
STeP-
Oeko-Tex
Certification
Standard Recycled Fair Trade-
Sustainable Global Recycled
MIG Tags 100 - Class I Claim Standard European Flax Germany and
Textile & Standard (GRS)
Made in Green For Yarn and (RCS) USA
Leather
Fabrics
Production
The ZDHC SMETA (Sedex

Higg Index ( Roadmap Members Ethical Global Security
FEM & FSLM) to Zero Trade Audit Verification
Programme Report )
Concluding remarks:
CTIL has consistently demonstrated an unwavering innovative conversion of fly ash waste into bricks, which are
dedication to producing high-end products and meeting utilised in one of our own construction of Birla Advanced
customer demands in the real estate, pulp, paper, and Knits manufacturing facility. This practice not only minimises
textile sectors. With state-of-the-art production facilities waste but also contributes to the circular economy by
and environmentally friendly building practices, CTIL has set repurposing materials.
an unprecedented benchmark for excellence. We remain
Our comprehensive approach to sustainability,
steadfast in our commitment to responsible sourcing,
encompassing sustainable sourcing, water conservation,
ensuring the preservation of natural ecosystems.
clean chemistry practices, fair trade, and waste management,
CTIL’s remarkable dedication to water conservation is positions CTIL as a leader in responsible manufacturing.
evident through the implementation of more than 51 We are committed to environmental stewardship and the
initiatives focused on responsible water management. well-being of society, setting a remarkable example for the
Furthermore, our adoption of clean chemistry practices in industry. As we move forward, we will continue to explore
dyeing processes promotes the use of sustainable materials new avenues for improvement, seeking innovative solutions
while minimising environmental impact. By embracing fair to further enhance our sustainability practices. By leveraging
trade practices, we uphold an ethical approach to business, our expertise and embracing emerging technologies, we are
prioritising social responsibility. confident in our ability to achieve even greater milestones in
An outstanding aspect of CTIL’s sustainability efforts is the the pursuit of a more sustainable future.

Human
Capital
As one of our most important stakeholders, our employees have been instrumental
in shaping CTIL’s achievements over the years. We are dedicated to fostering a
professional work environment that is characterised by collaboration, inclusivity, and
Nurturing Potential, a focus on individual and collective growth.
Empowering As we embark on a journey of future expansion, we remain steadfast in our efforts
Growth: Unleashing to enhance diversity, equity, and inclusion within our workforce. We believe that
the Power of Our a diverse and inclusive workplace fuels innovation, creativity, and productivity.
People We are devoted to providing continuous learning and development opportunities
to our employees. By investing in their skills and capabilities, we empower them
to reach their full potential and contribute meaningfully to our collective goals.
Additionally, the well-being and safety of our employees are paramount. We
prioritise their health, safety, and work-life balance, recognising that a healthy and
supported workforce is crucial for long-term sustainability and productivity. Through
comprehensive wellness programs and robust health and safety measures, we create
an environment where our employees can thrive both personally and professionally.


Key Highlights – Human Capital FY 2022-23
Total Number Total Women

of Permanent Number of Employees:
Employees: Workers: 96
1,305 8,998
Percentage Occupational Percentage of Permanent

of Women Health and Safety Employees Trained on
Employees: Management System Safety Measures:
7% (45001:2018) 70%
Percentage of Permanent Total New Hires (Employees

workers Trained on Safety and Workers):
Measures: 1,237
82%
SDG Linkages

Financial Capital:
By investing in our people, we enhance their capabilities and well-being, leading to
increased productivity and overall financial stability.
CTIL's talented workforce plays a pivotal role in driving innovation and implementing
progressive workplace practices by contributing to the development of innovative products
and solutions, as well as the adoption of sustainable and advanced operational strategies.

Workforce Composition
and Profile
Our employees are the heart of our organisation and our
greatest asset. We strive to foster collaboration, diversity,
and integrity among our employees. Our Human Resources
team is responsible for developing overall strategy and
programmes for hiring, training, development, and employee
retention. Our top priority is efficient and effective employee
management. We believe that harnessing the potential
of our workforce is a business imperative that can be
accomplished by creating an empowering work environment
that fosters and promotes talent. Our workforce drives our
businesses, and we are constantly innovating and evolving in
order to provide a stronger, competitive, and performance-
driven environment for our employees.
Employees (Staff and Management)

S.No Particulars Male Female
Number Percentage Number Percentage
1 Permanent 1,149 94 78 6
2 Contractual 60 77 18 23
3 Total 1,209 93 96 7
4 Total Employees 1,305
Workers
S.No Particulars Male Female
Number Percentage Number Percentage
1 Permanent 3,028 98 55 2
2 Contractual 5,587 96 328 4
3 Total 8,615 96 383 4
4 Total Workers 8,998
Percentage of Male and Female Employees at CTIL (%)
07
93
Male Female

Percentage of Male and Female Workers at CTIL (%)
04 *At Pulp and Paper, all workers are covered

by unions to facilitate collective bargaining
agreements. In Textiles, a similar practice of
collective bargaining takes place with the
96 workers. This process involves determining
incremental raises above the minimum wage set
by the government. This ensures that workers
have the opportunity to negotiate and establish
fair wages that go beyond the minimum standard.
Male Female
Building Our Human Capital

Hiring new employees is critical to the growth and success
of CTIL. Bringing in new talent provides the Company with
new perspectives, ideas, and energy. New hires frequently
bring a diverse set of skills, knowledge, and experiences that
can supplement and enhance the existing workforce. We tap
into a larger pool of expertise by hiring new people, fostering
innovation and creativity. Furthermore, new employees can
bring specialised skills and expertise that the organisation
may be lacking, filling critical gaps, and strengthening overall
performance. Hiring new employees also helps CTIL to
distribute workload, preventing burnout and increasing
productivity. It also encourages healthy competition and
motivates current employees to strive for excellence.
Below 30 Years of 30-50 Years of Above 50 Years of

Total Employees and Workers Hired
Age Age Age
Male 658 486 26
Female 40 27 0
While CTIL strives to create

a welcoming and positive
work environment for
employees, some employees
cease to be a part of our
organisation due to personal
commitments or other
opportunities. The turnover
number is highlighted in the
table below:
Turnover Number Turnover Rate

Below 30 Years 30-50 Years of Above 50 Male Female Total
of Age Age Years of Age
Permanent
Male Female Male Female Male Female 15.01% 24.32% 15.58%
Employee
36 7 114 10 22 0 Permanent
2.53% 8.92% 2.65%
Worker

Diversity, Equity, and Inclusion at CTIL

We strive to build conducive opportunities for employment, availability of accessible restrooms on
environment where each employee remuneration, and promotion. The the ground floor.
has the chance to participate, Company also provides trainings
To foster women empowerment,
contribute and grow while tapping its to the employees and workers to
CTIL organises a range of programs
rich and diversified human capital to support a more inclusive workplace and initiatives on International
realise its aspirations and build a long- for all. Additionally, we practice a ‘No Women's Day and beyond. These
term competitive edge. Discrimination’ philosophy through events celebrate the achievements
We foster a diverse workplace which we ensure that the Company and potential of women while
creating an inclusive environment does not discriminate on the basis of addressing important issues they face.
and a sense of belonging for all. We gender, caste, race, creed, religion, or Additionally, we are proud to have
take pride in a diverse workforce that disability. Additionally, the Company provided employment opportunities to
transcends nationalities, cultures, is fully committed to promoting local tribal women, empowering them
genders, abilities, generations, and inclusivity and diversity within its economically and socially. Recognising
experiences. During the reporting workforce. In all the business verticals the importance of gender diversity,
period, no cases of discrimination of CTIL, measures to enhance we are committed to increasing the
were reported. As a responsible accessibility have been implemented. representation of women in our total
employer, we strive to provide our This includes the provision of ramps workforce, ensuring a balanced and
workforce with unbiased and equal for wheelchair access and the inclusive environment for all.

Permanent Board Diversity

Employees by Board Member Gender FY 2022-23 FY 2021-22
Diversity Category
Male 5 6
under 30 years old
Female 2 2
Male 154 Total 7 8
Female 22 Diversity by Age FY 2022-23 FY 2021-22
Others 0 <30 years of age 0 0

30-50 years of age 0 0
30-50 years old
>50 years of age 7 8
Male 762
Female 53
Average Basic Salary and Remuneration
Employee Category
Others 0 Men Women
over 50 years old Basic: ` 62.11 lakhs
Senior Management -
CTC: ` 281.91 lakhs
Male 234
Basic: ` 20.50 lakhs Basic: ` 16.72 lakhs
Female 2 Middle Management
CTC: ` 64.79 lakhs CTC: ` 62.30 lakhs
Others 0 Basic: ` 3.68 lakhs Basic: ` 3.98 lakhs
Other Employees
CTC: ` 9.61 lakhs CTC: ` 11.97 lakhs
Skill Development and Training at CTIL

Talent Development has always
remained a key enabler for
achieving business and talent
outcomes. We ensure continued
engagement and development
of our workforce through
various E-learning programs.
We have developed training

portal ‘Gyanoday’ for offering
various training programmes.
Inhouse trainings are also
provided to the employees. We
offer personalised technical
trainings that are specific to
the job type and requirement
of the profile. Additionally,
instructor led behavioural and
soft skill trainings are provided
for holistic development of
employees.

Specific trainings and skill development programs are also imparted to

employees and workers at all our businesses.
In Real Estate, we organise trainings to enhance soft skills such as interview

performance and 'Being Your Best'. These trainings help employees increase
self-awareness, improve decision-making, and develop important skills like
time management and planning. We also offer an advanced MS Excel course
for employees. A highlight of our trainings is the Aspire Business Simulation,
which enables employees to gain a holistic view of businesses, think
analytically, and make data-driven decisions.
At Pulp and Paper, our commitment lies in successfully completing our

planned training programs and achieving our target man-days. Our e-learning
and classroom training platforms cover critical work areas and address
various topics essential to our industry while recognising the importance of
practical, hands-on experience for skill development. Therefore, we provided
skill-based and on-the-job training opportunities to our employees and
workers covering wide range of subjects, including Road Safety, Marketing,
Energy Saving Audit Training, Complaint Redressal, SAP, Safety Awareness
Goal Setting for FY 2022-23, and Quality and Product Pricing.
The Textiles division focuses on skill development and leadership trainings.

We offer trainings on HR policies, machine safety, fabric manufacturing,
chemical handling, waste management, and fabric processing. Our leadership
development programs integrate personal and work excellence. We also
conduct online sessions on growth mindset, opportunity development,
management in the digital age, innovation, and mentoring.
By incorporating comprehensive learning ecosystem, we equip our

employees with the knowledge and skills necessary to excel in their roles
and contribute to the overall success of our organisation. By integrating
multichannel learning modules, and on-the-job skill-based training, we foster
a well-rounded learning environment that effectively caters to the diverse
needs of our workforce. This approach not only allows our employees to
apply their theoretical knowledge in real-world scenarios but also fosters a
pull-based learning culture, encouraging them to actively seek out learning
opportunities and continuously improve their skills.
The table below represents the total hours of training undertaken by the workforce of different business verticals of CTIL.
Average Hours of Training Average Hours of Training

Metric
(Males) (Females)
Real Estate 142.3 73.3
Pulp and Paper 14.4 14.4
Textiles 160.4 87
Additionally, the segregated average training hours for permanent and other than permanent workers is highlighted in
the table below.
Other Than Permanent

Permanent Workers
Workers
Textiles 38.4 36.7
Additionally, KMPs of the Company were provided 1 training in the year which covered POSH mechanisms.

Employee Health, Well-Being, and Safety

Promoting health and safety of people is integral to CTIL’s business practices and values. Maintaining safe and sound working
space for employees with appropriate safety measures is of paramount importance to the Company. We ensure compliance
with all the laws and regulations related to health and safety.
Prioritising Mental Well-being: MITR Training Program

and MPower Partnership
To prioritise the mental well-being of our employees, CTIL offers the Making
Individuals and Teams Resilient (MITR) training program. This initiative focuses
on improving mental health and resilience among our workforce. We are
working in collaboration with MPower, an esteemed organisation dedicated to
mental health awareness.
Through our partnership with MPower, we aim to break the stigma surrounding
mental health by providing online sessions and resources. These sessions create
a safe and confidential space for employees to engage in open discussions and
seek expert guidance when needed. By addressing mental health concerns,
both within and outside the workplace, we are committed to fostering a
supportive environment that empowers individuals to prioritise their well-being.
Through this initiative, we aim to follows safety practices that include Management System). Workmen
break down barriers and foster a regular safety meets, internal and are given a practical demonstration
supportive space where employees external audits of safety systems. and training session on firefighting.
can access the help they need. Textiles has a well-functioning safety Workmen are trained on the different
The aim of these benefits and training system, up-to-date hazard types of fires, firefighting techniques,
sessions is to strengthen the identification and risk assessment and 'Do's and Don'ts' when dealing
work environment to create a protocols, carbon dioxide flooding with fires. During the reporting
psychologically safe space for the systems on electrical panels to period, we trained fire fighters and
development of positive mental mitigate fires, lifeline systems to provided various safety trainings.
and physical health. prevent falls, and fire extinguishers,
Non-occupational health and safety
hydrants etc. in relevant spots.
All verticals have several measures benefits such as health insurance and
to maintain a safe and secure The health and safety measures accident insurance are also provided
workplace. Real Estate has a robust extend to all employees, workers, to our employees and workers.
operational health and safety and visitors, and other stakeholders Other voluntary health promotion
plan in place and a management associated with the Company. services such as doctor visits, on-site
system which consists of proper Additionally, 70% of all permanent doctors, etc. are also available for all
work instruction and SOPs. Every employees and 82% of all permanent employees and workers. Moreover,
activity is required to be routed workers were provided training on any changes in procedures and other
through permit to work to ensure health and safety measures. We have operational changes are informed
that all health and safety practices also implemented ISO 45001:2018 to employees in advance, when
are being followed. Pulp and Paper (Occupational Health and Safety necessary.

Identifying Risks and a Behavior-Based Safety blower policy for anonymous

Hazards Observation (BBSO) system. reporting. Workers are empowered
By making it possible to to take immediate action to remove
In order to effectively identify
report harmful behaviours and themselves from risks and notify
workplace hazards and continuously
circumstances, it makes hazard supervisors or follow established
assess risks, CTIL upholds consistent
detection easier. evacuation procedures when hazards
practises across all of its business
are identified. These processes
verticals. The following procedures To properly examine incidents and
ensure prompt reporting and active
are used to achieve this goal: spot risks and dangers, there is a
worker engagement in maintaining a
mechanism in place for incident
Hazard Identification and Risk safe working environment. Detailed
investigations.
Assessment (HIRA) is a technique Standard Operating Procedures
used by CTIL to evaluate the Regular safety audits, carried out (SOPs) are in place for handling work-
working environment, interact by both internal and external related hazard incidents. Any risks
with staff members, and identify organisations, guarantee identified are immediately addressed
potential risks. Through HIRA, adherence to safety standards, and improvements are made on
CTIL seeks to proactively and reveal any potential dangers. the basis of in-depth assessments.
identify risks and put in place the In addition, CTIL provides training and Additionally, the process is carried
necessary controls to reduce or awareness to employees and workers out by a well-rounded team to
eliminate them. on hazard identification and reporting ensure that all aspects of identifying
procedures. Robust processes are hazards are covered. In cases of
CTIL performs Job Safety Analysis
established to allow workers to report emergencies, occupational health
(JSA) prior to authorising key
work-related hazards and remove services are offered to employees
activities. Each stage is reviewed
themselves from such risks. Reporting and workers immediately, and the
to spot potential risks and choose
mechanisms include dedicated functioning of such health services
appropriate countermeasures.
reporting forms, direct communication are monitored on a regular basis.
To identify risks connected to
with supervisors or the Health and
behaviour, CTIL has created
Safety department, and a whistle-

In conversation with the Health and Safety Department to understand the

outlook of the safety initiatives across the three business verticals –
Real Estate:
Q: How does Real Estate ensure the safety of workers and employees before awarding contracts to
contractors?
A: Prior to awarding the contract, we conduct pre-bid meetings with contractors to communicate the
health and safety requirements that need to be maintained at the project level. Regular communication
and training sessions are conducted to ensure that employees and workers are aware of these
requirements.
Q: Does Real Estate have any future plans for health and safety?
A: To mainstream the ‘Health & Safety’ in our operations, our plan for the upcoming year is to establish
a set of Standard Operating Procedures (SOPs) which will be aligning with various health & safety
international standards. Additionally, we aim to increase training hours for a larger number of workers
and employees.
Pulp and Paper:
Q: Are there any safety committees in place within the Pulp and Paper division?
A: Pulp and Paper has 13 plant safety committees that convene monthly to address
any unsafe conditions within the plant. Additionally, there is a central safety committee
responsible for thorough investigations of incidents to prevent their recurrence.
Q: How does Pulp and Paper ensure robust reporting mechanisms for workplace hazards
and injuries?
A: Pulp and Paper have introduced the Suraksha App, a user-friendly platform for
employees to conveniently report unsafe acts and conditions. The app ensures the
confidentiality of these reports, granting access solely to authorised personnel. As part
of our safety protocols, if an individual observes an unsafe act by a co-worker, they are
responsible for addressing it first before reporting it on the Suraksha App. This ensures that
immediate action is taken to rectify the unsafe situation.
Textiles:
Q: What measures does the Textiles division take to address safety incidents?
A: The Textiles division has developed a comprehensive action plan to address accidents.
An Apex Safety Board oversees and monitors safety measures and action plans on a regular
basis. Additionally, there is a robust incident reporting system in place for employees and
workers to report any safety-related incidents or concerns.
Q: Has Textiles set any future goals and targets for health and safety?
A: The Textiles division aims to achieve zero harm and zero accidents in the coming year.
Furthermore, we plan to expand the number of health and safety trainings provided to our
workers and employees.

FY 2022-23 FY 2021-22
Safety Incident/Number Category Current Previous Financial
Financial Year Year
Lost Time Injury Frequency Rate (LTIFR) Employees 1.06 0.43
(per one million person hours worked) Workers 0.37 0.69
Employees 11 36
Total recordable work-related injuries
Workers 7 35
Employees 0 0
No. of fatalities
Workers 2 0
No. of Fatalities (as a result of work- Employees and
0 0
related ill-health) workers
High-consequence work-related injury or Employees 0 0
ill health (excluding fatalities) Workers 0 0
Total Manhours Hours 2,95,50,758.12 1,88,12,951
Employees -
1.05 1.91
Injury Rate Rate
Workers - Rate 0.36 1.86
Employees -
0 0
Fatality Rate Rate
Workers - Rate 0.10 0
*Calculated on a 1,000,000 hour basis
To address safety related incidents, guidelines address the requirements are organised on a half-yearly
the three business verticals have a for contractual workers. Before basis, providing crucial briefings
standard operating procedure. Real entering into a contract, all necessary to employees, contractors, and
Estates prepares an incident report protocols are communicated to exhibition team members. During
and implements control mechanisms contractors, emphasising the the recruitment process, employees
when applicable, and measures are importance of adherence. are thoroughly informed about the
taken to ensure that such incidents necessary rules and regulations,
Promoting awareness of safety
are not repeated. Pulp and Paper ensuring their understanding and
regulations is a key focus for the
carries out a 5-step analysis to compliance.
Company. Regular workshops
identify the root causes of the safety
incident. Upon identification, the
division works towards addressing the
issue in conjunction with the safety
committees and applicable SOPs.
Textiles division follows a thorough
incident assessment process and puts
in safeguards to ensure the prevention
of such incidents.
Ensuring the utmost priority is given

to the well-being of our workforce, the
Real Estates vertical has implemented
stringent measures. To maintain
compliance with standards, the
Company has established contractual
rules and regulations that encompass
all relevant parameters. These

Safety and wellbeing Initiatives

and Events at Pulp and Paper
Pulp and Paper has initiated a visitor induction video

program, in which visitors are provided a video
walkthrough about health and safety related information.
Additionally, new and updated fire safety systems have
been installed in FY 2022-23. Pulp and Paper is continuing
to install smoke detection systems and increasing the
coverage of the same throughout the units.
Pulp and Paper is also working towards installing machine

guards. A total of 2,300+ machine guards have been
installed in FY 2022-23, covering more than 50% of the
machines. The unit is expected to achieve 100% machine
guarding in the coming year.
Pulp and Paper also initiated a motivational program during

Road Safety Week, in which we installed more than 4,000
reflective tapes on bicycles, leading to increased awareness
for all employees and workers who take the cycle to work.
Safety mechanisms and wellbeing initiatives and Events at Textiles
Serious Injury and Fatality Horizontal Fall Protection System

Prevention Program for Roof:
The primary objective of this program is to A horizontal fall protection system is a safety
identify conditions, incorrect practices, and solution that prevents falls from height in
dangerous acts (referred to as at-risk behaviours) horizontal work areas. It includes an anchorage
that have the potential to result in fatalities point, a lifeline, and a harness. Workers can move
(category 5 incidents) or serious injuries horizontally while remaining securely attached,
(category 4 incidents). Once these factors are reducing the risk of accidents.
identified, a scientific evaluation is conducted to
comprehensively assess their impact, taking into
account factors such as likelihood, severity, and
scale of potential risks. Based on this analysis,
appropriate control mechanisms are implemented
to effectively manage and mitigate these risks.

Lifeline with Fall Arrest System: National Safety Week Celebration

A lifeline with a fall arrest system is a safety device Textiles celebrated the 52nd National Safety Week
used to keep workers safe when working at heights. and conducted various activities like fire evacuation
It is made up of a flexible line or cable that is securely drill, occupational health and safety training, safety
fastened at both ends. Workers can move freely quiz competition, etc. Moreover, textiles have a
while wearing a harness connected to the lifeline. monthly safety theme calendar, according to which
When a fall occurs, the fall arrest system activates the division conducts several sessions throughout
and stops the fall, reducing the risk of injury. the year. These sessions pertain to emergency
preparedness, hot work and fire safety, behaviour
base safety observation, HIRA, contractor safety
management, machine guarding, working at height,
chemical safety, road safety, and electrical safety.
Worker Participation and Consultation for

Occupational Health and Safety
CTIL recognises the importance of worker comprehensive OHS training and are
participation and consultation in promoting informed about health and safety measures.
occupational health and safety (OHS) Their inputs play a vital role in addressing
across its business verticals. Employees OHS concerns and improving workplace
and workers are actively engaged in the safety.
development and implementation of OHS
The Textiles business actively involves
mechanisms to ensure their well-being.
workers and employees in the preparation
In the Real Estates business, regular health of Hazard Identification and Risk
and safety committee meetings involve Assessment (HIRA). This participatory
employees and workers. Furthermore, CTIL approach allows for the sharing of ideas and
conducts periodic training programs that thoughts on OHS matters. Additionally, the
empower them with knowledge of OHS safety committee, which includes workers,
practices. Workmen's perspectives are ensures effective communication and
sought through safety campaigns, feedback collaboration.
mechanisms, and open channels of
To foster worker participation and
communication. Daily monitoring sessions
representation, each business vertical
provide a platform for their opinions and
maintains a dedicated health and safety
suggestions to be heard and considered.
committee. These committees serve as
Similarly, in the Pulp and Paper platforms for employees and workers to
division, employees and workers receive contribute to ongoing OHS initiatives, share
insights, and collectively enhance workplace
safety.

Promoting a Safe and Healthy Workplace
To establish a safe and healthy labourers, and visitors with the procedures, and proper utilisation
workplace, the Company has necessary knowledge and skills to of firefighting equipment. This
implemented several measures across work safely. These trainings cover training ensures that personnel on-
its business verticals: various topics such as hazard site are well-prepared to respond
identification, emergency response effectively in case of a fire emergency.
Dedicated Health and Safety
procedures, proper use of personal Furthermore, the Company has
Department: The Company has
protective equipment (PPE), and safe established emergency response
a specialised Health and Safety
work practices. procedures encompassing various
department responsible for overseeing
types of emergencies, including
safety-related activities, fostering a Safety Awareness Program: A safety
medical incidents, natural disasters,
culture of safety, and continuously awareness program is in place to
and hazardous material spills.
improving occupational health and foster a strong safety culture within
safety (OHS) performance. the organisation. Through regular "Do's and Don'ts" Guidelines:
communication and awareness Clear and concise guidelines on
Comprehensive Safety Handbook:
initiatives, employees stay informed safe practices and behaviours are
Workers and employees receive a
about safety policies, procedures, and communicated through "do's and
detailed safety handbook outlining
updates. The program also includes don'ts" instructions. These guidelines
essential safety guidelines, procedures,
health guidelines covering aspects like help prevent accidents and minimise
and protocols to follow. This handbook
hygiene practices, ergonomics, and risks by outlining appropriate actions
serves as a reference to ensure
preventive measures for well-being. to take in specific situations.
employees understand and adhere to
safety practices. Fire Manuals and Emergency Through the implementation of these
Response Procedures: The Company measures, the Company prioritises
Regular Safety Trainings: The
provides comprehensive training the safety and well-being of its
Company conducts frequent safety
on fire safety protocols, evacuation employees, creating a secure and
trainings to equip employees,
healthy working environment.
Talent Attraction and Retention

Attracting and retaining high-skilled workforce
is an important aspect of business continuity
and growth of CTIL. To this end, we implement
various measures to develop a positive and
welcoming work environment and ensure
that employees are exposed to a wholesome
working atmosphere.
Additionally, through their associations with

the Company, all employees and workers are
offered various benefits such as inclusion in
the enterprise insurance, retirement benefits
(PF, gratuity, and ESI [where applicable]),
among other benefits. All female employees
(78) are covered under maternity benefits
and offered parental leaves. In FY 2022-23,
there was a 100% return to work rate and
continued employment after 12 months for
female employees who took maternity leaves (3
employees). CTIL also takes cares of employee
well-being by providing various healthcare
benefits such as Mediclaim to the employees.

100% of employees and workers received

performance and career development reviews
during FY 2022-23.
Performance evaluation is evaluations contribute to
crucial for employees as it the overall success of both
provides a systematic and the employees and the
objective assessment of their organisation by promoting
work performance. It enables individual growth and
employees to receive valuable optimising performance.
feedback on their strengths CTIL also encourages
and areas for improvement, employee feedback on
helping them grow and develop aspects like work-life
professionally. Performance balance, job satisfaction,
evaluations at CTIL also growth opportunities,
ensure that employees are etc., to ensure that the
held accountable for their Company can create a
performance and provide positive work environment
an opportunity for them by fostering 2-way
to align their goals with communication.
organisational objectives. By Transition Assistance:
recognising and rewarding While there is no formal
employees' achievements, transition assistance
performance evaluations policy, CTIL provides
enhance motivation and job service extensions, training
satisfaction. Moreover, they programs, and counselling
facilitate open communication sessions to enable
between employees and employees to transition
managers, fostering a smoothly into new roles.
culture of collaboration and The HR department also
continuous improvement. offers full support in career
Ultimately, performance development.
Concluding Comments:
As CTIL reflects on its achievements Looking ahead, CTIL is determined to By investing in the health, well-
in enhancing human capital, our make further strides in our journey being, and professional growth of
commitment to our employees' health, towards an inclusive and diverse our employees, while promoting
well-being, safety, and development workforce. We will actively work diversity and inclusivity, CTIL is poised
remains unwavering. Recognising that towards improving the diversity ratio to create a healthier, more dynamic,
our employees are the cornerstone within our organisation, fostering an and thriving workplace for all. These
of our organisation, we will continue environment where all individuals feel strategic initiatives not only reflect our
to prioritise their comprehensive valued, respected, and empowered. core values but also strengthen our
growth and overall welfare, enabling Additionally, we remain dedicated organisation for future success.
CTIL to reach unprecedented levels to providing ongoing support
of organisational excellence and and resources for the continued
profitability. professional development and well-
being of our employees.

Natural
Capital
In the present day, all entities are facing the inherent risks of climate change and
Preserving Nature, environmental degradation. We at CTIL rely heavily on inputs from the nature to
Sustaining Growth: conduct our business operations, since raw materials for the Company are directly
obtained from nature. To this end, we have taken several measures towards
Balancing Progress
environmental stewardship by reducing our emissions, using renewable energy,
with Environmental
reusing input material and wastes, among many other measures. Our Company
Stewardship will continue to evolve its business strategies and operations in the quest for long-
term sustainability and continue to balance commercial success with environmental
stewardship.
Over the past few years, we have progressively introduced various initiatives to
create a positive impact on the environment. These initiatives along with other
environmental metrics are discussed in detail in this section.


Key Highlights – Natural Capital FY 2022-23
Reduction in Energy
Renewable Energy
Consumption:
Reduction in Scope 1 Consumption:
Emission: 791 TJ less Energy 40% of Energy
Consumption as
7% Y-o-Y reduction Consumption from
compared to previous renewable sources
year
Waste Diverted from

Raw Material Usage:
Disposal:
53,319 MT less Water Withdrawal:
99% of the Waste
Raw Material 6% Y-o-Y reduction
Generated has been
usage as compared diverted from disposal
to previous year
ISO Certifications:
Task Force: ISO 14001:2015-
Water Discharge: Dedicated Task Environmental Management System
6% Y-o-Y reduction Force on Energy,
Waste, Water 50001:2018-
Energy Management System
Key Material Topics Covered Under Natural Capital
Climate Change
Decarbonisation Water Resilience
Adaptation
Biodiversity
Waste Management
Management

SDG Linkages

Financial Capital:
Natural Capital, which includes resources such as land, forests, and minerals, have a direct
impact on the financial performance of the Company.
The knowledge and understanding of ecosystems, biodiversity, and natural processes drive
intellectual capital by fostering new ideas, technologies, and sustainable practices.

Access to and conservation of natural resources contribute to social cohesion, cultural
values, and quality of life.
Manufacturing Capital:
Natural Capital serves as a raw material source for manufacturing. The availability and
responsible extraction of natural resources directly impact manufacturing processes, supply
chains, and the overall efficiency and sustainability of production systems.
Human Capital:
Natural Capital provides essential ecosystem services such as clean air, water, and food,
which are critical for human health and productivity.

Combating Climate Change:

At CTIL, we are fully committed management, which continuously
to combatting climate change and identifies improvement opportunities.
delivering value to our stakeholders.
Water conservation is equally
With a focus on renewable energy
important to us. We are proud to
consumption and energy efficiency,
report a 6% year-on-year reduction
we prioritise reducing greenhouse
in water withdrawal, reflecting our
gas emissions. Currently, 40% of our
commitment to sustainable water
total energy consumption comes from
management practices. Through
renewable sources, demonstrating our
optimisation and exploration of
dedication to transitioning towards
innovative technologies, we aim to
cleaner and more sustainable energy.
further reduce our water footprint.
We have achieved significant progress
To ensure the effectiveness of
in our sustainability efforts. There
our climate change initiatives,
has been a noteworthy 7% year-on-
we have established a dedicated
year reduction in Scope 1 emissions,
task force on energy, waste, and
indicating our success in minimising
water. This task force collaborates
direct emissions from our operations.
across departments to develop and
In waste management, we have implement strategic measures aligned
implemented effective waste with our sustainability goals. We also
reduction and recycling initiatives. maintain a robust governance system
We have diverted 99% of waste from to monitor and evaluate the progress
disposal. of our environmental efforts, ensuring
continuous improvement.
These achievements are driven by
our dedicated task force on waste
Our 4 Pillars of Green Focus

In line with our commitment to sustainable practices, our Company has placed a strong
emphasis on energy efficiency, emission reduction, water stewardship, and waste
management. Our green focus enables us to not only contribute to a more sustainable
future but also create a positive impact on the environment and the communities we serve.
Energy Efficiency
Creating mechanisms for energy-saving and energy-reduction measures to support and

improve our radical and adaptive actions.
Emission Reduction
Improving our energy efficiency & emission reduction across the value chain constantly and
transforming to decarbonise our business.
Effectual Water Stewardship
We value water as a precious natural capital. As part of our efforts to conserve and
reuse water across all of our on-site operations and in the areas where we operate. We
constantly endeavour to reduce the amount of water we use.
Effective Waste Management
We are striving diligently to embrace the 3R (Reduce, Reuse, Recycle) principle of waste
management as part of our commitment to creating a greener and more sustainable future.

ENERGY:
Energy Consumption
Energy is one of the core components energy efficient production practices our energy consumption. This
of conducting our businesses. and contribute towards energy comprehensive data has allowed us
There is a significant reliance on conservation. Furthermore, we aim to to identify areas of high energy usage,
fossil fuels in the world economy. reduce our greenhouse gas emissions enabling us to implement tailored
Ensuring uninterrupted and clean by focusing on using renewable strategies and initiatives to drive
energy supply is a requirement for energy sources and energy efficiency. further reductions.
all businesses & we as a responsible
To ensure transparency and Additionally, we have engaged our
organisation have increased our count
accountability, we have implemented employees and stakeholders in energy
on cleaner fuel options across all
rigorous monitoring and reporting conservation programs, promoting
our business verticals with the clear
systems across all our three awareness and fostering a culture
intention of supporting national and
business verticals; which enable of sustainability throughout our
international sustainability goals.
us to accurately track and analyse organisation.
Across all our three business verticals,
we are committed to using the most

All our three-business verticals fulfil the energy requirements in different manners.
REAL ESTATE: PULP & PAPER: TEXTILE:
Our real estate business relies For Pulp & Paper business operations, In our Textiles vertical, we consume
on energy to support its day- energy is obtained through a variety energy through non-renewable
to-day operations and meet the of sources like High-Speed Diesel energy sources such as natural gas,
needs of our customers. Energy (HSD), coal, Liquefied Petroleum Gas coal, HSD, and electricity purchased.
is an essential component in (LPG) etc. and from renewable energy There is also energy consumption
various aspects of our business, sources like solar power, Compressed from renewable source such as wind
including construction, property Methane Gas (CMG), wood, pith, power and from agro-waste bio mass.
management, and tenant services. black liquor, perul and baggase. Aside
from electricity purchased through
In terms of construction, energy
grid and renewable sources, our
is required to power heavy
Pulp & Paper business vertical has
machinery, tools, and equipment
installed Captive Power Plant (CPP)
used in the development and
for electricity generation.
renovation of properties. Once
the properties are built, energy
continues to be a vital resource in
their ongoing management.
To meet our energy requirements,

we employ a combination of
sources. Primarily, we rely on
electricity provided by the local
power grid to power our properties
and on fuel consumption primarily
in diesel generators and company
owned vehicles. However, we are
also exploring and incorporating
renewable energy sources, such as
solar power, to reduce our reliance
on traditional energy sources and
minimise our carbon footprint.

CTIL Energy Consumption Trends
Total Energy
Non- Percentage Renewable Percentage
Year Consumption
renewable (TJ) (%) (TJ) (%)
(TJ)
FY 2022-23 9,542.10 60 6,458.27 40 16,000.37
FY 2021-22 9,906.41 59 6,884.12 41 16,790.53
FY 2020-21 7,717.92 56 6,064.08 44 13,782.00
Total Energy Consumption for

FY 2020-21 (in TJ)
56
7,717.92
44
6,064.08
Renewable Non-renewable

FY 2021-22 (in TJ)
59
9,906.41
41
6,884.12

FY 2022-23 (in TJ) As compared to the previous year the energy
9,542.10
60 consumption has decreased slightly as CTIL
focused on energy savings initiative across
all the verticals. Over the past three years,
40 there has been a consistent consumption of
renewable energy. We also aim to increase
our clean energy consumption furthermore
6,458.27
in the coming years.

CTIL Energy Intensity

There was a slight increase in energy intensity for Real Estate and Pulp and Paper, while the energy intensity shows a significant
decline for Textiles.
There was a slight increase in energy intensity for

Vertical FY 2021-22 FY 2022-23
Real Estate and Pulp and Paper, while the energy
Real Estate (GJ/Sq. Mt.) 0.22 0.25 intensity shows a significant decline for Textiles.
Pulp and Paper (GJ/MT) 32.48 32.63 Our three business verticals have unique
approaches when it comes to Energy Management.
Textiles (GJ/MT) 153.80 138.91 Below are the energy management practices being
followed by our three business verticals.
REAL ESTATE:
Some of the energy saving initiatives which we have incorporated in our commercial and residential buildings this year are:
Solar Powered Success: Illuminating a Sustainable Energy Conservation through Efficiency

Path Forward Measures
For emergency lighting in walkways and paths, solar In our commercial facilities i.e. in Birla Aurora
lights were put throughout the labour camp and site. & Birla Centurion we have implemented
These lights have since been replaced with more many energy efficiency initiatives like Variable
energy-intensive lighting options like Halogen, Metal Frequency Drive (VFD) has been fixed
Halide, and LED. This marks the beginning of vertical for cooling tower motor to reduce power
real estate developments that integrate sustainable consumption, Thyristor replacement, Power
practises by respecting the true worth of energy saving by increasing chillers set point as per
in the commercial and residential sectors. Solar change in weather, Compact Fluorescent
Lights for General Illumination- To reduce the use Lamps (CFL) has been replaced with Light
of electricity, 40 solar lamps were installed in labour Emitting Diode (LED) lights, all these
camps and other locations. We save 1,488 kWh of initiatives have helped to achieve the annual
electricity each month because to this approach. energy saving of more than 8,000 kWh.

PULP & PAPER:
In our Pulp & Paper business vertical, we are steadfast in our commitment to energy conservation and sustainable practices.
Recognising the significant energy demands within our industry, we have implemented a range of initiatives to optimise
our energy usage and drive efficiency throughout our operations as a result of our energy management initiatives, we have
gradually reduced our overall energy consumption over time.
There are 39 energy saving initiatives which are helping us to save 1,68,43,845 kWh of electrical energy per annum & annual
steam saving of 9,659 MT steam/year. Some of the impactful initiatives which are contributing to large portion of energy
savings are:
Stop Top Layer- In our board manufacturing section,

Reduction of Pully Diameter- We reduced the
flow system motors after ‘Wire ready signal to voith’
pulley diameter of vacuum pumps from 18 inch
system is provided with 3 layer selection instead of
to 14 Inch for achieving energy saving. Through
4 layer as ‘Top Layer Wire bypass’. This modification
this initiative we are now able to achieve
helped us a lot save energy. Through this initiative
annual energy saving of 4,03,200 kWh.
we are able to save 30,80,000 kWh of energy
‘Shoe Press Installation’
In December 2022, we installed ‘Shoe Press’ in the printing paper unit which has proven to be a significant energy-
saving initiative, resulting in both enhanced production and reduced specific power consumption. The Shoe Press
technology optimises the dewatering process during paper manufacturing, enabling higher water removal and improved
sheet formation. This enhanced efficiency translates into increased production capacity without compromising product
quality. Moreover, the reduced specific power consumption achieved through the Shoe Press not only contributes
to cost savings but also demonstrates a commitment to sustainability by lowering energy usage and minimising the
environmental impact of the manufacturing process. This energy-saving initiative stands as a testament to the industry's
continuous efforts to improve efficiency and embrace eco-friendly practices. Below are the major results achieved:
Annual Energy Saving of 95,48,000 kWh
Total Annual Cost Savings of ` 60.85 million
Specific Power reduced from 793 kWh/MT to 683 kWh/MT
Specific Steam reduction from 1.96 T/T to 1.90 T/T
Average production increase from 215 MT/day to 248 MT/day
TEXTILES:
Through investment in state-of-the-art energy-efficient machinery, process optimisation, and employee training programs, we
have successfully achieved substantial energy savings.
‘Transforming Turbines, Striving for Sustainability’
As part of our ongoing commitment to energy conservation, we have implemented a significant initiative to
revamp our extraction cum back pressure turbine to a fully back pressure turbine. This transformation has
yielded remarkable results, saving an 30,000 kWh of energy per day.
By optimising the operation of our turbine, we have maximised energy efficiency and reduced energy losses.
Initiative Energy Saving

Re-engineering of humidification (Luwa plant) 16,000 kWh per day
Replacement of Faulty Traps and additional Control Valve in PAD
8 Ton Steam Savings Per Day
Steam machine

EMISSIONS:
Scope 1 and Scope 2 emissions are monitored at all CTIL’s project sites, manufacturing locations, and office locations. The
Company is in the process of implementing a monitoring system for Scope 3 emissions as well. The primary source of Scope 1
emissions at all 3 business verticals is consumption of fuels for energy which includes Coal, Petrol, High Speed Diesel (HSD),
Natural gas, Liquefied Petroleum Gas (LPG) etc. Scope 2 emissions arise out of consuming grid electricity. We have reduced
63,823 tCO2e Scope 1 emission as compared to the previous year.
We follow GHG protocol to monitor our emissions. We use Intergovernmental Panel on Climate Change (IPCC) & Central
Electricity Authority (CEA) recommended emission factors for Scope 1 and Scope 2 emissions respectively for emission
computation.
CTIL Emission Profile
Scope 1 (tCO2e)
69,919.60 91,245.00 1,04,456.16
Scope 2 (tCO2e)
6,81,696.80 8,67,662.80 8,03,839.79
FY 2020-21 FY 2021-22 FY 2022-23
CTIL Emission Intensity

Year over year, we have shown improvement in lowering emission intensity across all three verticals. We
have effectively implemented strategies to reduce our carbon emissions while preserving our operational
effectiveness through strategic initiatives and investments. As we work to further reduce our carbon
footprint and contribute to a better future, we will continue to give emission reduction efforts top priority.

REAL ESTATE:
At our Real Estate vertical, we strive to manage our emissions through various energy efficiency operation. There is a marginal
increase in emission intensity. Although we have implemented many energy savings initiatives but for coming years, we aim to
manage our emission intensity by embracing renewable energy sources, optimising our operation processes, and promoting
energy-efficient practices.
Emission Intensity in Real Estate
0.031 0.040 0.043
FY 2020-21R# FY 2021-22R# FY 2022-23
Emission Intensity in tCO2e/Sq.Mt.
R#- There is restatement in the emission intensity figures as compared to the figures reported in Integrated Report 2021-22, this change occurred due to the change in the
measurement methodologies used to produce the most accurate figure. The effect of the restatement resulted 0.030 tCO2e/Sq.Mt. and 0.021 tCO2e/Sq.Mt. higher value as
compared to the level of emission intensity previously reported for FY22 and FY21 respectively.

PULP AND PAPER:
Emission Intensity in Pulp & Paper
1.871
1.703
1.687
FY 2020-21 FY 2021-22 FY 2022-23
Emission Intensity in tCO2e/MT
Our Pulp and Paper vertical has demonstrated positive progress in reducing Scope 1 emissions compared to the previous year.
Through the implementation of various emissions reduction and energy efficiency measures, we have successfully decreased
our greenhouse gas (GHG) emissions. Key initiatives include the installation of energy efficient technology and upgrading of
operational processes. Notably, we have achieved significant reductions in Scope 1 emissions by implementing measures such
as the installation of Shoe Press, various energy-saving initiatives related to traps, valve passing, insulation, and the utilisation
of Compressed Methane Gas (CMG) generated from our Bio-Methanation plant. These efforts have effectively reduced our
thermal energy consumption and contributed to our overall emissions reduction goals.

TEXTILES:
The Textiles vertical has portrayed a reduction in total emissions in Scope 1. This was made possible due to implementation of
energy efficiency measures, energy saving and renewable energy initiatives.
Emission Intensity in Textiles
17.060
16.737
15.611
FY 2020-21 FY 2021-22 FY 2022-23
Emission Intensity in tCO2e/MT

Emissions other than GHG Emission

All business verticals of CTIL comply with emissions standards set by local and national regulatory bodies. Real Estate, Pulp
and Paper & Textiles have all set up robust monitoring mechanisms to properly track significant emissions such as NOx, SOx,
and Particulate Matter. All of our boiler stacks and kilns are outfitted with the most recent Electrostatic Precipitators (ESP)
technology, ensuring that air quality is maintained in compliance with legal requirements.
Parameter Unit FY 2020-21 FY 2021-22 FY 2022-23

Oxides of Nitrogen (NOx) MT 716.39 744.45 866.16
Oxides of Sulphur (SOx) MT 273.42 271.99 365.85
Particulate Matter (PM) MT 561.40 469.97 730.33

WASTE:
Waste Management Plan:
We continually aim to improve our waste management mechanisms, reduce the amount of waste generated, improve reuse
and recycling, and proper segregation of waste wherever applicable. Furthermore, we are integrating the concept of circular
economy throughout our operations to further minimise environmental impact. We have dedicated a 3R (Reduce, Reuse,
Recycle) waste management plan to manage the waste generated by us efficiently.
‘Embracing the 3R Principle: Our Commitment to Sustainable Waste Management’

Waste Reduction: At CTIL, we are dedicated to minimising waste generation as the most effective approach
to waste management. Across our three business verticals, we have implemented various measures to identify
opportunities for waste reduction. We have has implemented various waste reduction initiatives across its
three verticals of real estate, pulp and paper, and textile. In the textile vertical, advanced dyeing techniques
and efficient cutting processes have been employed to minimise water and fabric waste. The pulp and paper
vertical focuses on optimising production processes and recycling paper waste to minimise overall waste
generation. In the real estate vertical, sustainable construction practices and waste management systems have
been adopted to reduce construction and operational waste.
Resource Reuse: We actively promote the reuse of materials and resources throughout our operations. Our
team continually explores innovative ways to extend the lifecycle of our products and materials. In the Pulp
and Paper segment, for example, we utilise Effluent Treatment Plant sludge (ETP) and De-ink Plant sludge
(DIP) in board manufacturing. Additionally, we repurpose pith, bark, sawdust, and used oil as fuel in the boiler
and lime kiln. These practices not only benefit the environment but also contribute to the efficient use of
resources.
Recycling for a Circular Economy: As a responsible organisation, we recognise the importance of recycling in
building a circular economy. We have established robust recycling programs that allow us to recover valuable
materials and divert them from landfill. Our Pulp and Paper and Textiles business verticals comply with Extended
Producer Responsibility (EPR) regulations, falling into the Producers, Importers, and Brand Owners (PIBO)
category. We upcycle fly ash to produce bricks and recycle various waste materials such as textiles, metals,
cardboard, and paper. Through collaborations with authorised recycling vendors, we ensure efficient processing
and reintegration of waste materials like waste oil, e-waste, and battery waste into the production cycle.
By embracing the 3R principle of waste management - reduce, reuse, and recycle - we are committed to creating a sustainable
future, conserving resources, and minimising our environmental footprint.

Waste Generation by CTIL -
Total waste generated (MT)

Year Type of Waste Total
Non-Hazardous 2,47,750.80
FY 2020-21R# Hazardous 129.65
Total 2,47,880.45
FY 2021-22R# Hazardous 741.24
Total 2,94,307.94
FY 2022-23 Hazardous 1,239.37
Total 2,94,338.67
R#- There is restatement in total non-hazardous and hazardous waste figures as compared to the figures reported in Integrated Report 2021-22, this change occurred due to
the error made in previous reporting. The effect of the restatement resulted reduction of 914.08 MT & increase of 51.39 MT as compared to the previously reported level of
non-hazardous and hazardous waste figures for respectively for FY22. Similarly, it resulted increase of 99.33 MT & 13.55 MT of non-hazardous and hazardous waste figures
respectively reported for FY21.
Waste diverted from disposal:

We at CTIL across our three verticals have successfully diverted a significant amount of waste from disposal. Through diligent
efforts and responsible practices, we prioritise recycling, reusing, and responsible disposal methods. By diverting waste from
landfills, we are reducing our environmental footprint and contributing to a more sustainable future. We will continue to
explore new opportunities and collaborate with stakeholders to further enhance our waste diversion initiatives and drive
positive change. We diligently maintain the waste related information in all our verticals, we gather the information from
actual measures, like our reusing waste data, waste transfer records from authorised vendors. As a commitment towards our
waste management practice, we have diverted 99% of the waste generated from disposal. In this reporting year, through our
various initiatives across our three business verticals, we have diverted 2,90,982.64 MT of waste from disposal out of which
2,90,921.40 MT was non-hazardous waste & 61.24 MT was hazardous waste.
Waste directed to disposal

Our waste management plan is focused on minimising the amount of waste that goes directly to disposal. The below graph
shows the details of the waste directed to disposal from our various business segments.
In our Pulp and Paper division, no waste is directed to disposal, indicating our effective waste management practices in our
operations. Similarly, our Textiles segment has made significant progress in reducing waste directed to disposal compared to
the previous year, thanks to the implementation of efficient waste management practices. The waste directed to the disposal
is just 1% of the total waste generated. In this reporting year, we have directed 3,356.03 MT of waste to disposal out of which
2,177.89 MT was non-hazardous waste & 1,178.14 MT was hazardous waste.


Waste Management Practices:

Real Estate:
In our Real Estate vertical, we prioritise waste management and have

implemented green initiatives at all the project level. One such initiative is the
utilisation of sewage treatment plants (STP) to manage sewage waste, aiming
for Zero Liquid Discharge in our projects. The treated water from the STP is
utilised for gardening and flushing, reducing water wastage. We also practice
sustainable measures by reusing the topsoil excavated during construction
for landscaping and ensuring appropriate disposal of the remaining soil.
As a part of waste management efforts, we have established specific waste

disposal practices in the Real Estate segment. These include selling wooden
scrap, waste oil, and cable waste to third-party vendors, recycling building
wastes, and ensuring the safe disposal of construction waste. In certain cases,
construction waste is repurposed for temporary road building, promoting
efficient resource utilisation. These practices align with our commitment to
responsible waste management and sustainable development in the Real
Estate industry.
BioHYBRID - Waste to Energy by our Real Estate Segment
About-
BioHYBRID is a bio-methanation by pulverisation process which utilises organic waste
digesters and biogas utilisation systems
Outcomes-
As a part of the project, electricity is also produced from biogas. Approximately 225 kWh
of electricity is produced daily, which amounts to financial savings of ` 2,250 per day.
BioHYBRID also leads to 40% reduction in capital cost and approximately 80% reduction
in operational cost. Moreover, the initiative reduces sludge production by 500%.
Key Highlights-
Under the project, 3,70,000 litres of water is recycled in a day
The project mitigates 1,500 kilograms of carbon dioxide in a day
Pulp and Paper:
Some waste management practices which we have been following are:
ETP sludge, DIP sludge have been utilised in Board Manufacturing
Other hazardous waste such as used oil is utilised as fuel in Lime Kiln
Fly ash generated has been utilised by cement manufacturers for their
production process
“Harnessing the Power of Biomass Fuel in our Boiler Operations”
Saw dust, bark and wet pith formed in the plant are homogeneously combined with dry pith
(from Dipither) in the yard and fed into the boiler as fuel. The chain conveyor feeds coal into the
boiler, while the rotating feeder feeds pith. This process results in a Gross Calorific Value (GCV)
of pith of 3,800Kcal/Kg.

Textiles:
We are committed to reducing our environmental footprint by implementing

efficient waste management systems. To ensure responsible waste disposal and
recycling, we engage authorised third-party vendors who specialise in handling
various types of waste such as textiles, metals, cardboard, and paper. These
vendors adhere to proper disposal and recycling protocols, enabling us to meet
regulatory requirements while minimising our environmental impact.
Through our dedicated efforts in waste management, we aim to contribute to a

more sustainable textile industry, promoting resource conservation, and minimising
the negative effects on the ecosystem.
Waste to Energy Programme at our Textiles Vertical
The Textiles vertical has implemented ‘Waste to Energy’ initiative, which includes the generation of gas from our
anaerobic effluent treatment plant. By utilising the anaerobic digestion process, we are able to convert waste from
our production processes in the Effluent Treatment Plant (ETP) into valuable biogas. This biogas serves as a renewable
energy source that can be used for various purposes, such as generating heat and electricity. This innovative approach
not only helps us achieve our waste management goals but also contributes to the overall reduction of greenhouse
gas emissions.
Outcomes-
The generated gas is acting as a replacement of ‘Piped Natural Gas (PNG)’ in canteen
Daily energy generation of 680 kWh through gas engine
Sustainability Benefits
Due to anaerobic digestion process of sludge, we are able to reduce 180 kg of sludge per day

Water Stewardship:
Water is used extensively in different stages of the production processes of our Company. This dependency on water makes
water conservation measures and water management critical for us. To work towards water stewardship, a taskforce was
established last year for all plant locations. The task force is responsible for conducting water-based risk assessments for all
its plants and facilities, to identify any risk the Company would face in terms of water availability, and implementing water
conservation measures and setting targets such as limiting water discharge, limiting water withdrawal, reducing consumption,
etc.
Use of Water as a shared resource
At our organisation, we recognise the importance of responsibly managing water as a shared resource across
all our business verticals. Each vertical employs distinct methods to meet its water requirements, aligning with
the specific needs and circumstances of the operations.
In the Real Estate vertical, water is procured from various sources, including surface water, groundwater,
and third-party suppliers. We prioritise the sustainable use of water resources, implementing efficient water
management practices to minimise consumption and ensure responsible stewardship.
For our Pulp and Paper vertical, we solely rely on groundwater sources for water procurement. We understand
the significance of preserving this vital resource and adhere to stringent measures to monitor and maintain
sustainable groundwater usage in our operations.
In the Textile vertical, we collaborate with the Gujarat Industrial Development Corporation (GIDC) for the
supply of water. This partnership enables us to access a reliable water supply while also fostering engagement
with relevant stakeholders in the region.
Across all these verticals, we continually strive to optimise water usage, implement water conservation
measures, and explore innovative approaches to minimise our environmental impact. By actively managing our
water resources, we aim to ensure their long-term availability and contribute to the overall sustainability of our
operations.
Water Stewardship at CTIL

1,20,99,557.10
1,48,13,668.26
2,05,53,479.26
1,39,50,904.85
1,92,61,415.85
69,66,661.00
16,83,338.10
47,33,781.00
88,28,383.00
57,39,811.00
82,99,391.00
53,10,511.00
FY 2020-21R# FY 2021-22R# FY 2022-23
Water Withdrawal (m3) Water Discharge (m3) Water Consumption (m3) Water Recycle/Reuse (m3)
R#- There is restatement in water withdrawal, water consumption and water recycle/reuse figures as compared to the figures reported in Integrated Report 2021-22, this
change occurred due to the error made in the previous reporting. The updated figures for FY22, FY21 have been reported in the chart.

REAL ESTATE:
Owing to large scale expansion of our Real Estate operations, there is an increase in the amount of total water withdrawal of
the entity. However, over the past 3 financial years, the business vertical has innovated and implemented water reuse and
recycling measures and made considerable improvement in the amount of water reused and recycled, such as usage of curing
compound instead of conventional curing method for which we have saved 30 lakhs litres of water and implementation of
Sewage Treatment Plant (STP) in our project site.
Water Stewardship at Real Estate
Water Withdrawal (kl)

51,695.10 1,15,086.26 1,50,980.85
Water Recycle/Reuse (kl)
29,618.00
19,854.00
5,983.00
FY 2020-21 FY 2021-22 FY 2022-23
Water Intensity in Real Estate
1.05
0.92 0.92
FY 2020-21R# FY 2021-22R# FY 2022-23

Water Intensity (kl/Sqmtr)
As compared to last year the water intensity has

decreased. This has been possible due to several
water conservation & water efficient operations
we have implemented in FY23. We are committed
towards responsible water usage; we are
continuously exploring innovative solutions and
technologies to improve water efficiency in our
operations.

PULP AND PAPER:
Water is a very important substance & key input material in paper making. Thus, Pulp and Paper has introduced several
measures to monitor its water-related impacts. Implementation of water conservation measures at Pulp and Paper has enabled
the entity to cut down on the amount of water withdrawn.
Water Stewardship at Pulp and Paper

1,13,92,147.00 1,39,89,175.00 1,31,71,542.00
Water Recycle/Reuse (kl)
44,25,485.00 52,60,791.00
47,97,285.00
FY 2020-21 FY 2021-22 FY 2022-23
Water Intensity in Pulp and Paper
31.79
29.40
28.93
FY 2020-21R# FY 2021-22R# FY 2022-23

Water Intensity (kl/MT)
At our Pulp and Paper division we value the efficient

use of water, as compared to last year the water
intensity has been decreased. Due to 49 different
water conservation schemes implemented across
the business vertical, the water consumption has
also reduced by a considerable amount.

Our water conservation initiatives focus on sustainable water management practices, aiming to optimise water usage, reduce
wastage, and promote water conservation. Through the implementation of innovative technologies, we strive to address the
growing challenges of water scarcity and contribute to the preservation of this vital resource.
There are 49 water conservation initiatives at present having the cumulative potential of saving more than 2,000 m3 per hour.
Below is an overview of top 5 water conservation schemes:
Approx. Water saving

Activity
Achieved
Reuse of foul condensate evaporate of Chemical Recovery Plant. 100 M3/Hr
Reclamation of PM-3 and stock back water and reuse of same after
150 M3/Hr
clarification in RGP Chipper & Chips Washing.
Use of 47 M diameter clarifier back water after DynaSand filtration
150 M³/hr
plant as freshwater in bagasse Pulp Mill.
Recirculation of sealing water in 14 Nos.Vacuum Pump. 150 M³/hr
Recycling of bleaching stage Back water. 100 M3/Hr

TEXTILES:
Due to implementation of water efficient technology and revamping certain production processes, Textiles was able to reduce
the amount of water withdrawn over the past two years. Similarly, a reduction was seen in the water consumption across in the
business vertical.
Water Stewardship at Textiles
6,55,715.00 7,09,407.00 6,23,605.00 Water Recycle/Reuse (kl)
4,59,166.00 4,83,608.00
3,02,313.00
FY 2020-21 FY 2021-22 FY 2022-23
Water Intensity in Textiles
101.26
83.19
78.40
FY 2020-21R# FY 2021-22R# FY 2022-23
Water Intensity (kl/MT)
R#- There is restatement in the water intensity figures as compared to the figures reported in Integrated Report 2021-22, this change occurred due to the change in the
measurement methodologies used to produce the most accurate figure. The water withdrawal figures have been taken into consideration for all the three verticals to calculate
the water intensity figures.
At our Textiles segment, we have been committed

in limiting our water intensity. As compared to the
FY21, we have been able to significantly reduce the
water intensity on a year-on-year basis. Due to the
continuous year-on-year increase in the amount
of water recycle/reuse, our dependency upon the
water withdrawal has been decreased.

There are two major water conservation initiatives which have been implemented in the reporting year i.e. ‘Reusage of water’ &
‘Process modification to save the water’. We have achieved 16,317 kl of water saving in FY 2022-23. Below are the details of
these two initiatives:
Proposed Water Saving Achieved water saving FY

Description
(KL/Month) 2022-23 (KL)
Reuse of media filter back wash water

1,500 7,317
rejection by installation of bag filter.
Process water saving 1 liter/kg by

Micro planning, continue monitoring, 750 9,000
reduced reprocessing.

Water Discharge: the implementation of innovative technologies, adopting eco-friendly

recycling systems and processes, we production processes, and promoting
In our Textiles segment we have
have been able to recover and treat recycling and reuse, we ensure that
already implemented Zero Liquid
a larger portion of our wastewater, our material consumption is both
Discharge (ZLD) so there has
enabling us to significantly reduce responsible and sustainable.
been no water discharge from our
the amount of effluent and discharge
Textiles divisions. In our Pulp and In Real Estate, we place a strong
water that needs to be released into
Paper segment we have discharged emphasis on obtaining raw materials
the environment. This reduction has
82,99,391 m3 of water after the locally, considering the potential
positive environmental implications,
treatment this year which is 5,28,992 savings and sustainability. Our
as it helps to minimise the potential
m3 or 6% less than the water operations actively promote the use of
impact on local ecosystems and water
discharged in last year. We have recycled resources. We make sure that
sources.
set effluent discharge limit based low Volatile Organic Compound (VOC)
on the metrics such as Chemical In the Real Estate for the commercial paints are used in all our projects to
Oxygen Demand (COD), Biochemical properties, we have set up the support environmental sustainability.
Oxygen Demand (BOD), Total advanced Sewage Treatment Plant
Wood with bark, wood waste mix
(STP), the maximum water that can
Suspended Solids (TSS) and pH. As chips, bamboo, controlled wood,
be recycled via STP in day for Birla
per requirement from plant, specific wastepaper both imported and
Aurora and Birla Centurion are 200
standard is being considered and water domestic, bagasse, and imported fibre
Kilo litres/ day Centurion – 150
quality internal guidelines have been or pulp are the main raw materials
Kilo Litres/ day. We have the zero-
followed. We assess the waterbody which we use in our Pulp and Paper
discharge ETP having a four-stage
receiver profile before the discharge. vertical. We continue to abide by the
filtration RO system with the capacity
The quality of the water discharge is Forest Stewardship Council (FSC®)
of 2.5 MLD which helps recovery
being continuously monitored using guidelines and avoid obtaining wood
of water up to 95% in our Textiles
Online monitoring stations and same from questionable sources like historic
segment & similarly we have Effluent
is connected on real-time with Central and endangered forests. Pith, a related
Treatment Plant (ETP) having capacity
Pollution Control Board (CPCB). raw material, is obtained internally as
of 40 MLD to treat the discharged
a by-product of processing bagasse,
By increasing our recycle percentage, water at a large volume.
which is obtained from sugar mills.
we have been able to effectively
Responsible Material Consumption:
reduce the volume of effluent and At our Textile vertical, we are focusing
water discharge generated by our At CTIL, we prioritise responsible on reducing consumables and shifting
operations. Recycling plays a crucial consumption of materials across all focus towards green procurement. We
role in our water management strategy, our businesses. We strive to minimise increased the use of sustainable fibres,
as it allows us to treat and reuse water waste and maximise resource including the Better Cotton Initiative
within our processes instead of relying efficiency throughout our operations. (BCI) and Fairtrade Cotton, hemp fibre,
solely on freshwater sources. Through By implementing innovative lyocell.

Type of Material Metric Tonnes (MT)
Renewable 8,64,804.68
Non-renewable 2,15,396.00
Recycled 32,826.12
Total 11,13,026.80
We at CTIL, have been committed to using

renewable material as a large portion of our total
material consumption.
As a part of our commitment towards Extended Producer Responsibility (EPR), we reclaim plastic packaging for recycling. All
plastic packaging is reclaimed and collected by a third party for safe disposal/recycling.
For the reporting year, the percentage of total products sold in the respective category has not been calculated. However, we
aim to disclose the information in the future.
Bio-Diversity and Ecosystems:

We at CTIL, across all our business verticals are dedicated to promoting peaceful coexistence with nature and prioritise the
healthy development of the surrounding.
By integrating biodiversity considerations into our operations and decision-making processes, we aim to contribute to the
long-term health and resilience of ecosystems while fostering a harmonious relationship between nature and business.
We ensure that our activities do not take place in protected areas and areas of high biodiversity value outside protected areas
enabling us to reduce the risks of impacts. Our construction and manufacturing processes focus on biodiversity preservation
and conversation. For the construction activities, we ensure to comply with the pre-certification of ‘Green Building’ to
develop the project in an environmentally sustainable manner. We grow locally available plants and shrubs in our green areas
and avoid any invasive species. Further we maintain permeable zones to replenish the groundwater. All our operations and
developments are only in non-International Union for Conservation of Nature sites. None of the IUCN Red List species have
been impacted by our activities.

Vanotsav at Real Estate:

‘Birla Navya Vanotsav’, a special Pulp and Paper
programme arranged by our Real
Estate vertical for the homeowners
Recognising the essential role that trees play in supporting
of Birla Navya that embraces
ecosystems, mitigating climate change, and enhancing
sustainability while having fun with
biodiversity, we have implemented extensive tree planting
family. The initiative to plant saplings
programs across our operational areas. Through these
has yielded wonderful positive
efforts, we have established thriving green spaces that
outcomes. By planting saplings, we
provide vital habitats for numerous wildlife species, while
have contributed to the greening of
also improving air quality and promoting a healthier
our surroundings and the restoration
environment. We have planted 27.42 lakhs of trees in this
of natural habitats. Additionally,
reporting period.
‘Vanotsav’ has raised awareness about
the importance of tree planting and Additionally, through our ‘Amrit Sarovar’ initiative efforts
inspired others to take similar actions. in creating and restoring water bodies have ensured the
The positive impact of planting availability of clean drinking water for wildlife in dense
a single sapling goes beyond its forest, along with thriving ecosystems that support a
physical presence, as it symbolises diverse range of flora and fauna while recharging the
our commitment to preserving ground water. In this reporting period we have created 12
the environment and creating a numbers of Amrit Sarovars.
sustainable future. Our small act
of planting a sapling has generated
significant environmental benefits and
serves as a powerful reminder of the
transformative power of individual
actions.

Concluding Remarks
Textiles Focusing on our commitments and action towards
the material issues identified under Natural
Capital it is evident that CTIL is on a pathway of
At textile segment, we remain committed to expanding our
building a sustainable future. We recognise the
tree plantation initiatives, ensuring the preservation and
immense value of natural capital and the critical
enhancement of our natural capital for a sustainable future.
role it plays in our business operations, as well as
In this reporting period we have planted 5,000 trees, by
in the broader society and environment. We have
planting a diverse range of trees. We are committed to
embarked on a journey to integrate sustainability
further expanding and enhancing these initiatives to protect
into our core strategies, and the preservation and
and preserve our natural capital for a sustainable future.
enhancement of natural capital are at the forefront
of our agenda. Through our comprehensive
approach, we have not only identified the various
dependencies our business has on natural
resources but have also implemented proactive
measures to mitigate any negative impacts across
three of our business operations.
Future Goals and By valuing and accounting for natural capital,

we have gained a deeper understanding of the
Commitments interconnections between our operations and the
environment, development a more sustainable
Emission Reduction & Efficiency and resilient business model. Our commitment
Improvement to natural capital goes beyond compliance and
To continue to reduce Greenhouse Gas basic environmental stewardship. We recognise
Emissions and improve energy efficiency that by safeguarding and enhancing natural
in operations across all business verticals. resources, we are investing in the long-term
viability of our business, fostering innovation,
and creating shared value for all stakeholders.
We have embraced the concept of regenerative
Zero Liquid Discharge
practices, seeking opportunities to restore and
To work towards achieving Zero Liquid regenerate ecosystems, while simultaneously
Discharge across all business verticals. reaping the benefits of increased efficiency, cost
savings, and brand reputation. By collaborating
with key stakeholders, we can collectively address
Efficient Waste Management the challenges posed by resource scarcity, climate
To achieve zero waste to landfill and change, and biodiversity loss, working towards a
implement measures to reuse waste future where natural capital is protected, valued,
across all business verticals. and restored.
In conclusion, we are taking a proactive stance

in driving positive change, ensuring a more
sustainable and resilient future for our Company,
Effectual Water Stewardship our stakeholders, and the planet as a whole.
Making water stewardship a core value at As we move forward, we remain dedicated to
all the business verticals and making all continuously improving our responsible business
business operations water efficient. practices, embracing innovation, and collaborating
with partners to secure the health and prosperity
of natural capital for generations to come.

Social &
Relationship Capital
At CTIL, we firmly believe that strong partnerships with our stakeholders are the bedrock of our
Building success. We recognise the value of nurturing relationships built on trust, transparency, and shared
Sustainable goals. It is our unwavering commitment to these principles that allows us to cultivate enduring
Connections: connections with our customers, suppliers, and other stakeholders. Our approach to social capital
Empowering centers around the idea that collaboration, empathy, and meaningful engagement form the pillars
Communities, of sustainable development. By actively listening to and understanding the perspectives of our
Ensuring stakeholders, we gain valuable insights that guide our decision-making processes and enable us to
create positive impacts on the social landscape in which we operate.
Accountability
Our commitment to social responsibility and community engagement is evident in our efforts to
empower communities, optimise supply chain management, respect human rights, and deliver
exceptional customer experiences. Through various initiatives, programs, and partnerships, we
strive to make a meaningful difference in the lives of those who interact with our business and
contributes to the prosperity of the communities we serve.


Key Highlights – Social and Relationship Capital

FY 2022-23
Total amount spent on
Total Active
Trees planted CSR
Suppliers
27.47 lakhs ` 5.18 Crores
2,535
Total input material

sourced sustainably in
Pulp and Paper
Total Beneficiaries Suppliers screened on 96%
from CSR activities ESG criteria
Approx 66,766 100% Total input material
sourced sustainably in
Textiles
11%
Input material sourced 100% of the products

Material (inputs to total
directly from within the of the products of
inputs by value) directly
district and neighbouring all verticals carry
sourced from MSMEs/
districts in our Textiles information with respect
small producers in our
vertical to safe and responsible
Pulp and Paper division
12.95 % usage of its products
60.56% 100%
Complaints with
respect to Data privacy,
Advertising, Cyber-
Instances of data breach
security, Delivery of
were observed during the
essential
reporting year
Services, Restrictive
ZERO
Trade Practices, Unfair
Trade Practices in any of
our business verticals
ZERO

Key Material Topics Under Social and Relationship

Capital
Human Rights Supply Chain Management
Empowering Communities
Customer Experience
SDG Linkages

Financial Capital:
Strengthening social and relationship capital enhances stakeholder trust and engagement, leading to
improved financial performance and access to financial resources.
Collaborative relationships foster knowledge sharing, innovation, and the development of intellectual
capital, driving long-term value creation.
Natural Capital:
Social and relationship capital linkages promote sustainable practices and stakeholder engagement,
leading to effective conservation and responsible management of natural resources.
Human Capital:
Strong social connections and positive relationships create an environment that nurtures talent,
employee well-being, and maximises the potential of human capital for organisational success.

Empowering environmental sustainability and

ecological balance; protecting of flora
commitment to continuous
improvement and responsiveness to
communities and fauna; animal welfare; and rural

development projects.
the community’s needs.
through strong The members of the CSR team engage

We also consider the inputs from
the community representatives,
CSR policy in discussions with the community
representatives (Panchayat members,
NGOs, and the forest department
to prioritise and select projects
CTIL’s CSR Policy strives to reach out Selected community representatives) to that align with their capabilities and
to underprivileged populations while understand the needs of the community. resources. This collaborative approach
transcending business goals to make The Company, in turn, evaluates the ensures that the projects chosen for
real improvements in such communities. practical feasibility of the proposed implementation address the most
CTIL work towards improving the projects and measures their potential pressing community needs while
living and financial situation of the for success. Additionally, NGOs and the considering practicality and feasibility.
communities while building a better way forest department also approach the
CTIL maintains open lines
of life for the underprivileged members Company with areas of concern that
of communication with all
of the society. need to be addressed.
stakeholders involved to ensure
We invest our CSR efforts with well- Upon receiving these requests, CTIL transparency, collaboration, and
defined strategy in place to promote initiate further discussions with CSR mutual understanding throughout
voluntary employee engagement in CSR committee, which aim to finalise the the decision-making process.
activities. The experience of employees projects that can be implemented The Company can better serve
inside the firm is utilised through to address the identified needs and the needs of the community and
employee volunteering to increase the concerns. The decision-making process promote sustainable development
scope, reach, and effectiveness of our involves considering various factors by actively engaging with community
CSR efforts. such as available resources, technical representatives, NGOs, and
expertise, environmental impact, government departments.
Stakeholder community impact, and alignment with
An overview of all CSR activities
engagement and the Company’s goals and values.
Feedback forms are distributed amongst

undertaken at the three verticals is
listed below:
partnerships the locals to gather their opinion and
approach observation about the current CSR

projects. This mechanism allows the
Company to gain a better understanding
The key focus areas of our CSR
of the community’s perception of its
initiatives include reducing poverty;
initiatives, identify areas of improvement
promoting health care; promoting
and make suitable changes to its
education including special education;
CSR strategy. This feedback-driven
promoting gender equality and
approach demonstrates the Company’s
empowering women; ensuring
Real Estate
The Real Estate vertical of CTIL actively engages
in contributing to the organisation’s CSR initiatives
taken up by the organisation. Notably, the vertical
makes valuable contributions, such as providing
funds to the AWOO Foundation’s scholarship
scheme, and supporting MPower, an organisation
dedicated to mental health awareness. These
initiatives directly align with CTIL’s CSR policy and
organisational goals, ensuring a holistic approach to
responsible and sustainable business practices.

Pulp and paper

We regularly conduct meetings and engagements with local community members and different groups of people on the
ground level to establish meaningful connections and gain valuable insights into the needs and concerns of the community.
In addition to in-person engagements, various other communication channels such as phone calls, emails, social media, and
local announcements are used to reach out to the community. This multi-channel approach ensures that the Company can
effectively communicate with a wider audience and facilitate the exchange of information and ideas.
Featured Stories that have direct social impacts:
Promoting Socio-Economic Upliftment in Nainital’s Rural Areas through Perul Collection for
Boiler Fuel
In the steep regions of Uttarakhand, fallen pine tree leaves pose a wildfire risk that can be detrimental to the
community and the ecosystem. To address this challenge, we have taken proactive measures by implementing
the Perul collection initiative, which not only mitigates the risk of wildfires but also provides valuable
employment opportunities to the local communities. By collecting and utilising Perul as fuel in our boilers
at the Lalkua facility, we are not only ensuring the safety of the environment but also contributing to the
economic well-being of the involved communities.
During FY 2022-23, we successfully received and processed 174 metric tonnes of Perul, underscoring the
effectiveness and scale of this initiative. By incentivising local residents to participate, we create employment
opportunities and support the development of rural and hilly areas in Nainital.
Overall, the Company’s Perul collection initiative demonstrates a thoughtful approach to addressing of utilising
waste as a material for combustion.

Constructing Amrit Sarovars (small ponds) at Haldwani

In collaboration with the forest department, our Pulp and Paper business has undertaken the construction of 12
Amrut Sarovars in the Dauli and Kishanpur range at Tarai East Forest Division, Haldwani. These ponds have a
combined capacity of 2.3 Crores litres of fresh water, showcasing our dedication to environmental conservation
and the well-being of wildlife in the region.
The construction of these ponds serves two significant purposes. Firstly, it ensures the availability of water for
wildlife, particularly during the summer months. Providing a stable water source is vital for the survival of various
animal species, especially in times of drought or limited water resources. The ponds function as reservoirs,
supporting the overall habitat and biodiversity of the area.
Secondly, these ponds facilitate the recharge of groundwater in the region. By replenishing groundwater
levels, we contribute to ecological balance and ensure long-term water availability for both wildlife and local
communities.
Through the construction of these ponds, we actively contribute to the conservation of biodiversity, the
protection of wildlife habitats, and the replenishment of groundwater resources.
Community Medical camps

We have organised 2 medical camps this year at Janta Inter College
Bindukhatta and Lalkua, providing free medical services and support
to the local community catering to more than 5,000 people. These
medical camps are particularly helpful to individuals who may
not have regular access to healthcare facilities or face financial
constraints in seeking medical treatment.
The inclusion of expert doctors and medicinal practitioners in

the medical camps ensures that attendees receive professional
and specialised care. The medical camps cater to a diverse set of
healthcare needs and promote holistic well-being by offering a
range of diagnostic activities such as pathology, eye check-ups,
cardiology, orthopaedics, and more. Additionally, by providing
access to medical facilities at the Company’s first aid centre for
individuals requiring further treatment after the camp, the Company
demonstrates a commitment to continuity of care. This approach
ensures that individuals can continue to receive medical attention
and support beyond the initial camp, promoting sustained well-
being.
Overall, the Company’s organisation of medical camps exemplifies

its dedication to community welfare and reflects its efforts to make
healthcare accessible to those in need.

Textiles
We at our Textiles vertical has prioritised health, education, and community development as key focus areas in its CSR strategy.
To ensure the effectiveness of its initiatives, the Company engages in discussions with community members, administration,
and local stakeholders, including workers and panchayat heads, to identify the most relevant and impactful projects.
CTIL receives numerous requests for sponsorship and donations from communities, organisations, and individuals. In response,
the Company continually refines its CSR strategy to align with its business objectives, values, and stakeholder expectations. This
iterative approach ensures that CTIL’s CSR efforts have a meaningful and sustainable impact on the communities it serves.
Featured Stories that have direct social impacts:
Vermicompost Units
The textiles business has constructed 200 Vermi compost units in the farmers in Jhagadia Taluka’s surrounding
villages.
An agency has been appointed for the regular monitoring of these units. The use of vermicomposting for
waste management in the community reduces the quantity of waste sent to landfills substantially. This project
directly benefits 200 families, providing them with a sustainable solution for waste management.
The vermicompost units have proven to be highly productive, with a single unit capable of generating 500 kg
of vermicompost annually. This organic compost can be used by farmers for organic farming practices, which
not only promotes environmentally friendly agriculture but also has the potential to generate income. The
market value of the vermicompost presents an opportunity for farmers to earn approximately ` 50,000 per
year. This income boost can greatly contribute to the financial viability and sustainability of organic farming for
these farmers.
To ensure the long-term success of the vermicompost units, CTIL’s textile division has provided training to
the farmers on the operations of these units. This support and knowledge transfer empower the farmers
to effectively utilise the units and maximise their benefits. Additionally, the units are designed to be highly
efficient and require minimal maintenance, making them an attractive and worthwhile investment for farmers
interested in organic farming.
Overall, the vermicompost units implemented by CTIL offer an excellent choice for farmers looking to enhance
their incomes and make organic farming more feasible. The potential for producing compost, along with the
support and training provided by CTIL, demonstrates the Company’s commitment to sustainable agriculture
practices and empowering local communities.

Setting up of smart classes

Smart Class facility was set up at Valia Primary School and Borida Primary School of Bharuch district.
Additionally, these schools have the Tata Edge Programme, which offers students access to excellent educational
opportunities. The Tata Edge programme is known for its commitment to enhancing the quality of education and
providing students with valuable learning experiences. This project will assist students in staying current on global
events aiming to foster global awareness and a broader perspective among students. This initiative can contribute
to the overall development and growth of students, equipping them with the necessary skills and knowledge to
succeed in an increasingly globalised society.
Community Feedback and transparency and accountability in the habitats, and respecting the rights and
Grievance Resolution grievance redressal process. well-being of community members.
We take active efforts to engage with The maintenance of a complaint

Sustainable Supply Chain
local stakeholders and gather their register allows for the systematic
feedback through meetings. Recognising recording and tracking of grievances, CTIL has developed a strong
local challenges and actively working ensuring that each concern is duly connection with its suppliers and
to address them is of great importance acknowledged and followed up on. value chain partners. Building strong
to us. The CSR members responsible Assigning a responsible person to relationships with suppliers is crucial
for leading community development resolve grievances demonstrates for collaboration, ensuring smooth
efforts maintain a dedicated focus on CTIL’s commitment to taking prompt operations, and achieving mutual
building strong relationships with the action and providing a dedicated point growth in the business. We treat our
communities in which we operate. of contact for community members suppliers as partners in the business
seeking resolution. and demonstrate a cooperative
Grievance Resolutions Process: approach, where both parties work
Continuing to engage with
together to achieve common goals
To facilitate open communication, local stakeholders, investing in
and success. We also ensure timely
regular meetings are organised with their education, and prioritising
payments, which not only contributes
community groups, allowing for direct sustainable development benefit
to the financial stability of suppliers
engagement and dialogue between the the communities as well as building
but also to trust and reliability in the
Company and the local community. positive relationships, trust, and
business partnership.
This enables CTIL to understand long-term success. We demonstrate
and address the specific issues a commitment to environmental Our suppliers and service providers
faced by the community, creating a stewardship, social responsibility, and play a pivotal role in innovation and
collaborative approach to problem- ethical conduct by ensuring that our driving continuous improvement,
solving. Furthermore, the placement operations do not have any significant deliver cutting-edge advancements
of complaint drop boxes at factory negative impacts on the local propel us forward by leveraging
entrances and project sites provides community and in the area in which the latest and globally successful
a convenient and accessible means we operate. This includes minimising technologies.
for community members to submit pollution, reducing resource
their grievances. This encourages consumption, protecting natural

Supplier Engagement and Screening Process

Supplier assessment is a critical step in the business as it enables the organisation to make informed decisions when selecting
the most suitable suppliers. We have a strong commitment to responsible sourcing and ethical practices, which is why all our
suppliers undergo rigorous screening based on various environmental and social parameters. We prioritise local suppliers as
they contribute to lower emissions, aligning with our sustainability goals. Throughout the reporting period, none of our supply
chain partners faced penalties or termination due to their negative impact on the environment or society.
To gather comprehensive information about suppliers, we utilise vendor registration forms that cover a range of aspects,
including environmental compliance, ISO certifications for Health and Safety, and human rights-related issues. We uphold
our values and commitment to sustainability and social responsibility by implementing standards such as SA8000, ensuring
that our suppliers align with our principles. This initial assessment allows us to filter suppliers who do not meet our minimum
requirements or criteria set by the Company.
In addition to the above, we also prioritise factors such as product quality, delivery reliability, cost-effectiveness, and adherence
to ethical business practices when evaluating and selecting our suppliers along with the below aspects:
The OEM’s manufacturing capacity
Quality Assurance Plans
Sizeable capital for sustainable , Size of team, Organisation flow-chart
Supplier is a Responsible Taxpayer
Customer Feedback
Type of Raw material used and its impact on environment
Scrap Policy of Hazardous non-hazardous Material

Supplier Performance Evaluation Process
Sustainability and
Quality performance Responsiveness
Social responsibility
Flexibility and
On-time delivery Cost and pricing
adaptability
The quality of products or services provided by suppliers is a crucial aspect of supplier performance and timely delivery are
critical factors for supplier performance. Assessing the environmental impact of suppliers is also an important performance
metric for the Company. CTIL also performs the below procedures to increase transparency:
Sample assessment: Sample assessment involves requesting and evaluating samples of the supplier’s products or services.
This method allows the Company to directly assess the quality, functionality, and suitability of the supplier’s offerings. The
Company reviews the samples to determine if they meet the required specifications and standards.
Maintaining Supplier Portfolio Balance: We maintain a balanced portfolio of suppliers to avoid over-dependency on a
few key suppliers. If the proportion of goods or services sourced from a specific supplier becomes significantly large efforts are
made to reduce that dependency and distribute the procurement requirements among multiple suppliers.
Embracing Local Suppliers

for Sustainable Sourcing and
Community Growth
The Company prioritises partnerships
with local suppliers to optimise logistics
costs, enhance response times, and
reduce landed costs. Working closely
with nearby suppliers enables quick
response and minimised lead times
without compromising on quality.
Robust quality control mechanisms,
supplier audits, and performance
evaluations ensure adherence to
necessary standards.
Moreover, the Company is committed

to the sustainable growth of local
suppliers. By supporting their
development, we contribute to local
economic growth, and job creation, and
enhance the resilience of the entire
supply chain. Collaborating with local
suppliers fosters knowledge transfer,
and innovation, and nurtures long-term
partnerships that mutually benefit all
parties involved.

Human Rights
At CTIL, upholding human rights is paramount across our business operations. We strictly comply with national and international
human rights laws and regulations, guided by our comprehensive corporate policy. Our zero-tolerance stance towards child
labour, forced labour, discrimination, and harassment is reinforced through robust policies and monitoring systems. With no
reported violations of indigenous peoples’ rights, we prioritise respecting the rights and dignity of every individual.
To address human rights grievances, employees and stakeholders can approach the SPT committee or senior management/HR
representatives. Prior to any business agreements or contracts, human rights requirements are thoroughly assessed. Suppliers
undergo rigorous screening to ensure ethical conduct throughout our supply chain, aligning with international labour and UN
conventions. Induction programs cover human rights policies, POSH, and codes of conduct for all CTIL employees.
By embracing internationally recognised human rights principles, we foster equitable, fair, and respectful work environments.
Continual evaluation and improvement of our practices ensure the safeguarding and promotion of human rights, positively
impacting our employees and the communities we serve.
Human Rights Policies
Policy for
Social Accountability
Prohibition and Child Labour Forced Labour
and Social
Prevention of Prohibition Policy prevention policy
Compliance Policy
Sexual Harassment

Customer Engagement, Involvement,

Satisfaction and Feedback
At CTIL, we actively engage and By understanding their needs, product development, and
involve our customers in various preferences, and expectations, we community initiatives. Through
aspects of our business. We value are able to tailor our offerings and collaborative platforms, focus
their feedback and continuously deliver personalised solutions. We groups, and customer advisory
strive to improve their satisfaction. also take proactive measures to boards, we invite their perspectives
Through customer surveys, measure and enhance customer and insights, enabling us to make
feedback mechanisms, and regular satisfaction, monitoring key informed decisions that align
communication channels, we performance indicators and with their needs and values.
gather valuable insights and take implementing improvement Our commitment to customer
prompt action to address any initiatives based on the feedback engagement, involvement,
concerns or suggestions raised by received. satisfaction, and feedback is at the
our customers. core of our business philosophy,
We believe in the power of
We are committed to providing transparency and open dialogue enabling us to build strong,
exceptional customer experiences with our customers. We actively enduring relationships based on
and ensuring their satisfaction encourage their involvement in trust, transparency, and mutual
with our products and services. shaping our business strategies, respect.
Real Estate Textile Pulp and Paper

Grievance Redressal Mechanism
The Company has appointed An efficient system has been put Pulp and Paper used to have
relationship manager who in place by the Textiles business a customer survey, but it was
stay in touch with customers vertical to ensure quick response replaced by NPS. Pulp and Paper
and respond to issues they and continued development has a well-defined SOP for
raise in the most effective based on customer feedback. dealing with and responding to
way. A number of channels A Complaint File Identification customer feedback. Any negative
for interaction have been and Resolution (CFIR) number is feedback received is recorded
set up, including WhatsApp produced whenever a consumer in the system. Following
groups, an email address where offers feedback or files a registration, a decision is made
customers can send us concerns, complaint. Appropriate resolution as to whether the problem is
suggestions, or observations. is provided after careful analysis technical or sales-related, and
of the issue. how the issue will be evaluated.
Following that, it is decided
whether the consumer will
receive compensation or the
product will be replaced.

Customer Awareness
Customers are informed In the Textiles business, safety To ensure the safe and
about the sustainability and warnings are prominently responsible usage of products,
safety aspects of their homes displayed on polybags used for the Pulp and Paper business
For commercial projects, the packaging. These warnings serve informs consumers through
Company provides information to inform consumers about the its website about the proper
to customers regarding waste safe usage and handling of the usage guidelines. And also,
disposal practices, energy- textile products. through the product booklet
saving measures, and fire safety Additionally, customer meetings
guidelines. This ensures that are conducted to educate them
consumers are aware of the about the safe handling and
responsible usage of the real use of the Company’s products.
estate services provided by the Additionally, customer meetings
Company. are conducted to educate them
about the safe handling and
use of the Company’s products.
Customers are also provided a
product booklet.
Product Quality, & Traceability
All our residential projects are Our Textiles business has Pulp and Paper business is ISO
pre-certified green buildings to ISO 9001:2015 certification 9001:2015 certified, which
provide customers with safe for maintaining best quality helps in maintaining best quality
living conditions, best indoor air standards, MADE IN GREEN standards for our customers. All
quality and saving on energy. label, Sustainable Textile our products comply with local
The commercial properties are Production (STeP), and international regulations on
also certified Green building. product and service information
Fair Trade Certification (USA
The certifications have been and labelling.
and Germany) and Supima
provided by either of the
certification which is an end-to-
following bodies Leadership
end traceability, transparency,
in Energy and Environmental
and authentication platform that
Design (LEED), Indian Green
will provide Supima brand/retail
Building Certification, and
partners true product credibility
Building Research Establishment
and insights.
Environmental Assessment
Method (BREEAM). By
ensuring compliance with these
certifications, we intend to provide
premium living and working
conditions to our customers.

Customer Health and Safety:

At CTIL, we prioritise the health and safety
of our customers and are committed to
responsible product/service usage and
marketing practices. We recognise that
our products and services can have an
impact on the well-being of our customers
and strive to ensure their safety and
satisfaction.
To uphold our commitment, we not only

comply with applicable legal and regulatory
requirements but also go beyond by
conducting systematic reviews of customer
health and safety. Through these reviews,
we assess the potential impact of our
product and service categories on the well-
being of our customers. This enables us to
identify areas for improvement and take
Customer Privacy
proactive measures to enhance customer
At CTIL, we recognise the importance safety.
of customer privacy and the need to
Moreover, we are proud to report that
protect their personal information. As part
we have maintained a strong track record
of our commitment to responsible data
of compliance with rules and voluntary
management, we adhere to the highest
codes pertaining to the health and
standards of privacy and security practices.
safety implications of our products and
During the reporting period, we are services. Our commitment to compliance
pleased to report that we received zero ensures that our customers can trust in
complaints or take-down requests related the safety and reliability of our offerings,
to personal data from our customers. knowing that they meet or exceed
This highlights our effective handling of industry standards. Importantly, we have
customer information and our commitment had no incidents of non-compliance
to safeguarding their privacy. regarding product and service information
Furthermore, we are proud to report that and labeling, further underscoring our
there were zero data security breaches commitment to customer safety.
during the same period. This demonstrates In addition to health and safety, we
our dedication to implementing robust uphold responsible marketing practices.
security measures and maintaining the We ensure that our marketing materials
integrity and confidentiality of customer and communications are accurate,
data. transparent, and adhere to applicable
We remain vigilant in continuously laws and regulations. Our aim is to
improving our data protection measures provide our customers with clear and
and staying updated with emerging privacy reliable information about our products
regulations. By prioritising customer and services, empowering them to make
privacy and data security, we aim to build informed decisions.
trust and maintain strong relationships
with our valued customers.

MIG Tags: Made in Green

Certification (Textiles)
MADE IN GREEN label ensures the customers
that the product has been through sustainable
production practices and has a transparent and
responsible supply chain.
The MADE IN GREEN label serves as a valuable

tool for consumers who seek more sustainable
and socially responsible options.
One key aspect highlighted by the MADE IN

GREEN label is the transparency and responsible
management of the supply chain. It recognises
that achieving sustainability goals requires tracing
and understanding the entire supply chain, from
raw material sourcing to manufacturing processes.
Concluding remarks
At CTIL, we are deeply committed to corporate social
responsibility and sustainability. Our goal is to make
a meaningful impact in the communities we serve by
expanding the reach and effectiveness of our CSR
initiatives.
Safety and minimising harm are top priorities for us. We

actively engage with our value chain partners to promote
responsible procurement practices and enhance safety
standards throughout our operations.
As a responsible company, we strive to create

lasting value for our stakeholders while addressing
community needs. Our CSR budget allocations align
with environmental and social criteria, demonstrating
our commitment to responsible resource management.
We actively contribute to community well-being and
development, considering environmental and social
factors in our stakeholder relationships. Through
sustainable supply chain practices, support for human
rights, and enhanced customer experiences, we aim to
make a positive impact and contribute to community
growth.
Our goal is to build strong and enduring relationships with

our stakeholders, fostering trust, credibility, and long-term
success. By actively involving the community, practicing
sustainability, and upholding human rights, we aim to
deliver value to our customers and society as a whole.

Intellectual
Capital
At the heart of CTIL’s progress lies the power of intellectual capital. Our commitment
is to craft world-class products and offerings fuelled by an strong culture of
Innovating the Future, innovation. This capital represents the intangible assets derived from knowledge,
Empowering Growth: encompassing our organisational expertise, processes, procedures, and protocols.
Unleashing the Power By embracing innovation as a core element of our DNA, we unlock value for all
of Knowledge stakeholders. Through our relentless pursuit of innovation, we elevate the quality,
sustainability, and long-term growth potential of our diverse range of products and
businesses.


Key Highlights – Intellectual Capital FY 2022-23

Research and New Projects/Products
development (R&D) Launched:
R&D Facility:
Expense: Real Estate- 5
Pulp & Paper- 3 1 R&D Facility
` 4.35 Crores
Textiles- 4
Laboratory Accreditation:
NABL (National Accreditation
R&D Professionals: Active Patents Held:
Board for Testing and Calibration
61 dedicated R&D 1 Granted & 1 Provisional
Laboratories) 17025: 2017
professionals Filing
Marks & Spencer Buyer
Accreditation
SDG Linkages
Linkages with other Capitals:

Financial Capital:
Investing in Intellectual Capital fosters innovation and drives revenue growth, contributing to the
expansion of financial capital.
Natural Capital:
Intellectual Capital investment promotes sustainable practices, optimising resource usage and
protecting the environment for the betterment of natural capital.

Intellectual Capital empowers CTIL to address social challenges through innovative solutions, building
strong relationships and driving positive change.
Human Capital:
Investing in Intellectual Capital enhances employee knowledge and expertise, enabling innovative
thinking and effective problem-solving for the development of human capital.
Manufactured Capital:
Intellectual Capital drives manufacturing process optimisation, increasing efficiency and reducing
costs to enhance the productivity and value creation of manufactured capital.

We at CTIL, recognises the critical role of

intellectual capital in driving innovation, All our three business
operational excellence, and sustainable
growth. Our intellectual capital is anchored
verticals continuously
in the diverse knowledge, expertise, and foster the power of
innovative ideas of our employees, who
possess deep industry insights and technical innovation to drive the
know-how across various domains. We
actively promote a culture of continuous
positive impact:
learning and professional development to
enhance our human capital, ensuring that
our workforce remains agile, skilled, and
Real Estate:
adaptable to evolving market dynamics.
Furthermore, our commitment to research In our Real Estate vertical, we ceaselessly work driving positive
and development enables us to leverage change through ‘Sustainable Architecture’ for both residential
intellectual capital in product design, process and commercial spaces, and we promote creative thinking
optimisation, and technology advancements, and resource efficiency. We try to give homebuyers a lifestyle
enhancing the value and differentiation that is more in tune with nature. With a strong emphasis
of our manufactured capital across all on technological integration for data analytics and design
our three business verticals, Real Estate, softwares.
Pulp and Paper, and Textiles. Through the Our commercial projects - Birla Aurora, Worli and Birla
protection and utilisation of our intellectual Centurion, Worli received Platinum certification from Indian
property, including patents and trademarks, Green Building Council (IGBC). Three of our five residential
we safeguard our competitive advantage projects namely- Birla Alokya, Birla Navya and Birla Vanya are
and explore strategic collaborations to IGBC Gold pre-certified. The newly launched project Birla
unlock new opportunities. By leveraging Tisya, Bengaluru received IGBC Platinum Pre-Certification. Our
our intellectual capital, we aim to drive flagship project-Birla Niyaara, Mumbai is India’s first Residential
sustainable innovation, improve operational LEED v4.1 USGBC Platinum pre-certified project.
efficiencies, and create long-term value for
our stakeholders while positively impacting We have used design techniques to make sure that 40% of the
the industries we serve. project is green so that the residents and their family can enjoy
continuous green spaces.
Amalgamation Innovation and Technology for Better

Customer Experience
We have created digital experiences to provide 360-degree

virtual tours of our properties as well as an immersive virtual
reality experience of flats, accelerating our digital journey. As
a result, we have been able to improve customer happiness,
deepen our relationship with them, and maintain our
development trajectory.
We’re constantly trying to find ways to use the power of

digitisation to create solutions that will company requirements,
discover potential futures, and increase stakeholder value. The
buyer is guided through the full sales process via our digital
sales platform, from comprehending the project to eventually
completing the purchase and making the payment. To increase
the precision and efficiency of our processes, we are putting
digital technologies like Robotic Process Automation (RPA) into
practise. Additionally, we offer a platform for live customer
query resolution and escalation. The use of digital outreach
platforms have proven to be very much crucial for connecting
with our customers.

Pulp and Paper:

Our relentless pursuit of progress has led to the development
of ground-breaking products that push the boundaries of our
industries and provide unique value to our customers. These
innovative solutions, born from the collective expertise and
intellectual capacity of our teams, showcase our commitment
to leveraging intellectual capital as a driving force behind our
success. By continuously exploring new frontiers, embracing
emerging technologies, and fostering a culture of creativity
and collaboration, we have solidified our position as a leader
in delivering cutting-edge pulp and paper products that meet
the evolving needs of our customers and at the same time
sustainable.
Innovative products developed in FY

2022-23
American A4 Copier
It is high bright and smooth copier paper

under US Copier size, 216x279 mm,
against normal A4 size 210x297 mm.
Ultrasoft Tissue Development
Our Pulp and Paper business already had

a domestic leadership in the development
of facial tissue. However, there was a need
to improve the softness of the tissue.
Importing softening agent was an option,
but that would lead to increased supply
times since material would come from
overseas. So, we innovated and created
new ultrasoft tissue paper which was well
received by customers.
Century Ultra Soft Facial Tissue
It is more supple and serves as an alternate

for imported facial tissue. It has a luxury
soft feel and controlled absorbency
pursuant to its ultra-softness level.
Century Ultra Soft Toilet Tissue
It is having higher softness and premium

quality for rest room. It not only provides
soft feel but also it is having superior
absorbency.

existing products and the desired or required

Reusing Material ones by focusing on the present requirements
of the market.
We are continuously focusing on increasing the
use of bagasse and de-inked pulp to reduce raw The R&D team assists in developing
material consumption. Furthermore, the entity innovative ideas and exploring new
is innovating and developing ways to reduce possibilities in textile technologies by
quantity of packaging material. tapping into the creative minds of the
team. This approach fosters a collaborative
environment where the expertise and visions
Textiles of designers and researchers contribute to
the development of cutting-edge solutions.
In Textiles vertical, we showcase the intrinsic
They conduct scientific studies to understand
value of knowledge, innovation, and creativity.
the latest advancements and trends in the
We have the integrated R&D facility in our
industry, ensuring that their research and
Jhagadia Plant location. We deeply committed
development efforts align with the evolving
to excellence and sustainability, we recognise
needs of society. This proactive and holistic
that intellectual capital is the cornerstone of
approach positions the Textiles business
our competitive advantage in the dynamic
vertical at the forefront of innovation in the
textile industry. Our success hinges on the
sector.
collective expertise, skills, and ingenuity of
our workforce, who are continually pushing We have collaborated with renowned fiber
boundaries and driving innovation across our and chemical manufacturers to introduce a
operations. By embracing intellectual capital, range of innovative textile finishes. These
we aim to create innovative, high-quality finishes are designed to offer unique
textile products, streamline our operations, and properties like preventing the growth of
address the evolving needs of our customers bacteria, ensuring long-lasting freshness and
while promoting environmental stewardship cleanliness and other benefits to the textiles
and social responsibility. produced by the Company.
In FY 2022-23 we have developed 4 categories

of new products that is Regen-Agri Cotton, Driving Circular Economy
IRf (Far Infrared) finish products, Altag Blends, through Innovation
Banana Blends.
The single use of plastic in packaging mostly
ends up in landfills. Our Textiles vertical
Revolutionary Fabric recognises the negative impact of single
Products through use of plastic on the environment and is
innovation exploring the sustainable solutions to reuse
The R&D department is dedicated to exploring plastic waste to promote and adopt a circular
and implementing state-of-the-art textile economy to tackle this menace. The R&D
technologies. The approach involves integrating team also developed the ‘Reusable Packaging
advanced technological solutions with current Bags’ to reduce the usage of plastic.
challenges based on guiding principles,
including market research, outside-in and
inside-out innovation.
Market research plays a crucial role in the R&D Innovation for Responsible Growth: Fibre
process and provides the team with valuable Products from Agro-Waste
insights into the needs and demands of the
society. This research helps us identify the
goods and products that are currently essential
in the market. We aim to bridge the product
gap, which refers to the disparity between the

The Problem The Solution:

Statement: ‘Making Wealth from Waste- Developing Fabrics from Agro-Waste’
Textile Material
Pollution
Textile industry is among
the most essential consumer
Waste from food
goods industry. However, the crop plants
textile industry is indicted Fibre Yarns
of being one of the most Fabrics
polluting industries. Majority

of the fibres are synthetic like
polyester which is nothing
but plastic; pesticides and
water intensive cotton or
forest fed and hazardously
processed fibres. There is
clear case of need and want
Agricultural Bast Sustainable AltMat Sustainable Natural
of better alternative. Waste Processes Materials
Unutilised We have taken the initiative in producing fibres from agriculture waste in
Agricultural Waste collaboration with AltMat. We have developed a new range of product from
agriculture waste fibre called Altag, procured from AltMat and blended with
Agro-waste is the term
lyocell and cotton fibre in different blend ratio. We have developed Altag
used to describe the waste
samples with stretch. The fibre is converted into textile based yarn and then
material produced during
fabric is woven in different weaves like plain, twill & Oxford in solids, yarn dyed
farming practices that can
& dobby structures for Men’s wear & women’s wear vertical.
be chemical, pesticides or
fertilizer. The sources of the
wastes are field residues,
industrial processing
waste, livestock waste and
hazardous chemical waste.
On the other spectrum,

regenerative source like
agricultural waste or crop
residue are being disposed of
destructively like in case of
crop burning or in a cost led
manner. Available in millions
of tonnes each year, this
source is waiting to be put to
constructive uses.

Process of developing fabrics from Agro-Waste:

There is a 5 steps process of making this sustainable product possible. Below is the process flow:
After the crops

Crops grown This Biomass
are harvested,
for Food waste is used
there is
or other and upcycled
Biomass Waste
non –textile into natural
like stems and
purposes fibre, Altag
leaves
These are then This fiber is

converted into converted into
fabrics yarns
The Result:
We have presented theAltag collection and developed various products for the following brands: PVH, Adidas, H&M, Nike,
Levis, Marco Polo, Laguna Clothing etc.
The Benefits: All our commitments towards building a better world are highly focused making positive impacts on all the pillars
of sustainability i.e. Environment, Social & Governance. From this initiative we have been making the following impacts:
Sustainable Inclusive Performing
Additional income for

Saves more than 90% of
farmers and communities Naturally Anti-bacterial
water
involved
Inclusive Practices
Saves 70% carbon footprint Breathable
across supply chain
No use of hazardous
Natural and skin friendly
chemicals
Increases land yield and

contributes to regenerative Fights sweat and smell
agriculture
Accommodates
different weather

Concluding
remarks:
Intellectual capital plays a critical
role in driving innovation, growth,
and long-term success across
our diverse businesses. We have
highlighted our commitment to
nurturing and leveraging intellectual
capital as a strategic asset within
CTIL. By investing in the professional
development of our teams, embracing
emerging technologies, and prioritising
sustainable practices, we unlock
the full potential of our intellectual
capital to deliver sustainable solutions
and drive operational excellence.
Moving forward, we will continue
to enhance our intellectual capital
through ongoing investments in
education, training, and collaboration,
fostering a culture of creativity and
innovation. With our collective
knowledge and expertise, we are
well-equipped to navigate challenges,
seize opportunities, and create
sustainable value for our stakeholders.
We remain committed to nurturing
intellectual capital, driving continuous
improvement, and forging a resilient
and successful future.

Concluding the report:

At CTIL, we are dedicated to and G aspects mentioned in this We recognise that addressing the
building a sustainable future through demonstrate our commitment to world's sustainability challenges
responsible business practices sustainable and responsible growth requires collective action. We invite all
and stakeholder engagement. with a clear focus to create a better stakeholders to join us on this journey
We would like to express our tomorrow. of creating a sustainable future. Your
sincere appreciation to our valued collaboration, feedback, and support
We firmly believe that sustainability
stakeholders who have contributed to are vital as we work towards achieving
and business success go hand in hand.
our journey towards sustainability and our shared aspirations.
By integrating sustainability into our
long-term value creation.
operations, we have not only reduced We are committed to advancing
Throughout this report, we have our environmental footprint but also sustainability, creating value for our
highlighted our commitment created value for our stakeholders. stakeholders, and positively impacting
to protecting the environment, the communities we operate in. By
Looking ahead, we remain dedicated
empowering communities, enhancing integrating sustainability into our
to continuous improvement and
supply chain management, promoting core business practices, we strive to
innovation. We will continue to
human rights, and delivering contribute to a more sustainable and
invest in research and development,
exceptional customer experiences. inclusive world.
fostering a culture of learning and
These material topics have guided
knowledge-sharing, and strengthening Thank you for your continued trust,
our efforts in creating positive social,
our relationships with stakeholders. partnership, and belief in our mission.
environmental, and economic impacts.
Our accomplishments, challenges,

targets and goals concerning E, S

Appendix
GRI Content Index

Statement of use Century Textile and Industries Limited has reported in accordance with the GRI Standards for
the period 01 April 2022 to 31 March 2023.
GRI 1 used GRI 1: Foundation 2021
GRI DISCLOSURE LOCATION Page OMISSION

STANDARD/ No.
OTHER REQUIREMENT(S) REASON EXPLANATION
SOURCE OMITTED
General disclosures
GRI 2: General 2-1 Introduction- Pg 8,

Disclosures Organisational About CTIL, 224-225
2021 details BRSR
2-2 Entities Introduction- Pg 6

included in the Reporting
organisation’s Scope and
sustainability Boundary
reporting
2-3 Reporting Introduction- Pg 6

period, Reporting
frequency and Scope and
contact point Boundary
2-4 Introduction- Pg 7
Restatements of Restatement
information of Information
2-5 External Introduction- Pg 7

assurance External
Assurance
2-6 Activities, Introduction- Pg 8

value chain and CTIL at a
other business Glance
relationships
2-7 Employees Human Pg 81

Capital-
Total CTIL
Workforce
2-8 Workers Human Pg 81

who are not Capital-
employees Total CTIL
Workforce
2-9 Governance Introduction- Pg 28

structure and Board of
composition Directors


STANDARD/ No.
SOURCE OMITTED
2-10 Nomination Pg 32
Nomination and selection
and selection of the highest
of the highest governance
governance body
body
2-11 Chair of Role of the Pg 32

the highest board
governance
body
2-12 Role of Corporate Pg 184

the highest Governance
governance Report -
body in MD&A
overseeing the
management of
impacts
2-13 Delegation Corporate Pg 32

of responsibility Governance
for managing Report/Role of
impacts the Board
2-14 Role of Message from Pg 16

the highest Managing
governance Director
body in
sustainability
reporting
2-15 Conflicts Corporate Pg 33,

of interest Governance- 251
Managing
Conflicts of
Interest, BRSR
2-16 Corporate Pg 212

Communication Governance
of critical Report
concerns


STANDARD/ No.
SOURCE OMITTED
2-17 Collective Corporate Pg 205

knowledge of Governance
the highest Report
governance
body
2-18 Evaluation Corporate Pg 174

of the Governance
performance Report - Board
of the highest Evaluation
governance
body

Remuneration Governance
policies Report -
Annexure 3
2-20 Process Corporate Pg 196

to determine Governance
remuneration Report -
Remuneration
Policy
2-21 Statutory Pg 199

Annual total Report-
compensation Annexure V
ratio
2-22 Statement Message from Pg 16

on sustainable Managing
development Director
strategy
2-23 Policy Message from Pg 16

commitments Managing
Director
2-24 Embedding Message from Pg 16

policy Managing
commitments Director
2-25 Processes SEMA, BRSR- Pg 48,

to remediate Grievance 231
negative impacts mechanisms
2-26 BRSR- Pg 231

Mechanisms for Grievance
seeking advice mechanisms
and raising
concerns


STANDARD/ No.
SOURCE OMITTED
Compliance Governance-
with laws and Compliance
regulations with laws and
regulations
2-28 BRSR Pg 286

Membership
associations
2-29 Approach SEMA, BRSR Pg 48,

to stakeholder 268
engagement
2-30 Collective Human Pg 82

bargaining Capital-
agreements Workforce
Composition
and Profile
Material topics
GRI 3: Material 3-1 Process SEMA, BRSR Pg 48,

Topics 2021 to determine 234
material topics
3-2 List of SEMA, BRSR Pg 48,

material topics 234
Economic performance
GRI 3: Material 3-3 SEMA, BRSR Pg 48,

Topics 2021 Management of 234
material topics
GRI 201: 201-1 Direct Financial Pg 62

Economic economic value Capital-
Performance generated and Economic
2016 distributed Value Creation
201-2 Financial SEMA, BRSR Pg 48,

implications and 234
other risks and
opportunities
due to climate
change
201-3 Defined - -
benefit plan
obligations and
other retirement
plans


STANDARD/ No.
SOURCE OMITTED
201-4 Financial Financial Pg 63

assistance Capital- Tax
received from Strategy
government
Materials

material topics
GRI 301: 301-1 Materials Natural Pg 120

Materials 2016 used by weight Capital-
or volume Responsible
Material
Consumption
301-2 Recycled Natural Pg 120

input materials Capital-
used Responsible
Material
Consumption
301-3 Reclaimed Natural Pg 120,

products and Capital- 255
their packaging Responsible
materials Material
Consumption,
BRSR
Energy

material topics
GRI 302: 302-1 Energy Natural Pg 99,

Energy 2016 consumption Capital- 276
within the Energy
organisation Consumption,
BRSR
302-2 Energy - - 302-2 (a, b, c) Information CTIL is

consumption unavailable/ currently not
outside of the incomplete tracking energy
organisation consumption
outside the
organisation.
The Company
is in process of
implementing
measures to
track the same.


STANDARD/ No.
SOURCE OMITTED
302-3 Energy Natural Pg 102,

intensity Capital, BRSR 276
302-4 Reduction Natural Capital Pg 102

of energy
consumption
302-5 - - 302-5 (a, b, c) Not CTIL has

Reductions applicable excluded this
in energy indicator from
requirements the content
of products and index due to the
services inapplicability
or lack of
relevance to
the productsnor
services of
CTIL. The
excluded
indicator do
not significantly
impact
the overall
understanding
of the
sustainability
performance of
CTIL.
Water and effluents

material topics
GRI 303: Water 303-1 Natural Pg 114

and Effluents Interactions Capital- Water
2018 with water as a Stewardship
shared resource
303-2 Natural Pg 120

Management of Capital- Water
water discharge- Discharge
related impacts
303-3 Water Natural Pg 114,

withdrawal Capital- Water 276
Stewardship,
BRSR


STANDARD/ No.
SOURCE OMITTED
303-4 Water Natural Pg 114

discharge Capital- Water
Stewardship
303-5 Water Natural Pg 114,

consumption Capital- Water 276
Stewardship,
BRSR
Biodiversity

material topics
GRI 304: 304-1 Natural Pg 121,

Biodiversity Operational sites Capital- Bio- 280
2016 owned, leased, diversity, BRSR
managed in,
or adjacent to,
protected areas
and areas of
high biodiversity
value outside
protected areas
304-2 Natural Pg 121

Significant Capital- Bio-
impacts of diversity
activities,
products and
services on
biodiversity
304-3 Habitats Natural Pg 121

protected or Capital- Bio-
restored diversity
304-4 IUCN Natural Pg 121

Red List species Capital- Bio-
and national diversity
conservation
list species with
habitats in areas
affected by
operations
Emissions

material topics


STANDARD/ No.
SOURCE OMITTED
GRI 305: 305-1 Direct Natural Pg 104,

Emissions 2016 (Scope 1) GHG Capital- 278
emissions Emission,
BRSR
305-2 Energy Natural Pg 104,

indirect (Scope Capital- 278
2) GHG Emission,
emissions BRSR
305-3 Other - - 305-3 (a, b, c, d, Information CTIL is currently

indirect (Scope e, f, g) unavailable/ not tracking
3) GHG incomplete Scope 3
emissions emissions. The
Company is
in process of
implementing
measures to
track the same.
305-4 GHG Natural Pg 104,

emissions Capital- 278
intensity Emission,
BRSR
305-5 Reduction Natural Pg 104,

of GHG Capital- 278
emissions Emission,
BRSR
305-6 Emissions - - 305-6 (a, b, c, d, Information CTIL is currently

of ozone- e, f, g) unavailable/ in a process of
depleting incomplete inventorising its
substances emissions from
(ODS) the refrigerants
with respect
to the ozone-
depleting
substances.
305-7 Nitrogen Natural Pg 108,

oxides (NOx), Capital- 277
sulfur oxides Emissions
(SOx), and other other than
significant air GHG Emission,
emissions BRSR
Waste


STANDARD/ No.
SOURCE OMITTED
GRI 3: 3-3 SEMA, BRSR Pg 48,

Material Management 234
Topics 2021 of material
topics
GRI 306: 306-1 Waste Natural Pg

Waste 2020 generation Capital- 109,
and significant Waste, BRSR 279
waste-related
impacts
306-2 Natural Pg
Management Capital- 112,
of significant Waste 279
waste-related Management
impacts Practices,
BRSR
306-3 Waste Natural Pg

generated Capital- 110,
Waste 279
Generation
by CTIL,
BRSR

diverted from Capital- 110,
disposal Waste 279
diverted from
disposal,
BRSR

directed to Capital- 110,
disposal Waste 279
directed to
disposal,
BRSR
Supplier environmental assessment
GRI 3: 3-3 SEMA, BRSR Pg 48,

Material Management 234
Topics 2021 of material
topics


STANDARD/ No.
SOURCE OMITTED
GRI 308: 308-1 New Social and Pg 113

Supplier suppliers Relationship
Environmental that were Capital-
Assessment screened using Supplier
2016 environmental Engagement
criteria and
Screening
Process
308-2 Negative Social and Pg 113

environmental Relationship
impacts in the Capital-
supply chain and Supplier
actions taken Engagement
and Screening
Process
Employment

material topics
GRI 401: 401-1 New Human Pg 82

Employment employee hires Capital-
2016 and employee Building our
turnover Human Capital
401-2 Benefits Human Pg 92

provided to full- Capital- Talent
time employees Attraction and
that are not Retention
provided to
temporary
or part-time
employees
401-3 Parental Human Pg 92,

leave Capital- Talent 258
Attraction and
Retention,
BRSR
Labor/management relations

material topics


STANDARD/ No.
SOURCE OMITTED
GRI 402: Labor/ 402-1 Minimum Human Capital Pg 86

Management notice periods - Health and
Relations 2016 regarding Safety
operational
changes
Occupational health and safety

material topics
GRI 403: 403-1 Human Pg 86,

Occupational Occupational Capital- 261
Health and health Employee
Safety 2018 and safety Health, Well-
management Being, and
system Safety, BRSR
403-2 Hazard Human Pg 87,

identification, Capital- 261
risk assessment, Identifying
and incident Risks and
investigation Hazards, BRSR
403-3 Human Pg 86,

Occupational Capital- Health 262
health services and Safety,
BRSR
403-4 Worker Human Pg 91

participation, Capital-
consultation, and Worker
communication Participation
on occupational and
health and Consultation
safety for
Occupational
Health and
Safety
403-5 Worker Human Pg 86

training on Capital- Health
occupational and Safety
health and
safety


STANDARD/ No.
SOURCE OMITTED
403-6 Human Pg 92,

Promotion of Capital- Talent 263
worker health Attraction and
Retention,
BRSR
403-7 Human Pg 92,

Prevention and Capital- 264
mitigation of Ensuring
occupational a Safe and
health and Healthy
safety impacts Workplace,
directly linked BRSR
by business
relationships
403-8 Workers Human Pg 86

covered by an Capital- Health
occupational and Safety
health
and safety
management
system
403-9 Work- Human Pg 89,

related injuries Capital- 262
Details of
Saftey Related
Incidents,
BRSR
403-10 Work- Human Pg 89,

related ill health Capital- 262
Details of
Saftey Related
Incidents,
BRSR
Training and education

material topics


STANDARD/ No.
SOURCE OMITTED
GRI 404: 404-1 Average - - 401-1 (a) Information CTIL is currently

Training and hours of training unavailable/ not tracking
Education 2016 per year per incomplete average hours
employee of training
per year per
employee. The
Company is
in process of
implementing
measures to
track the same.
404-2 Programs Human Pg 93

for upgrading Capital-
employee skills Learning and
and transition Development,
assistance BRSR
programs
404-3 Human Pg 93
Percentage Capital- Talent
of employees Attraction and
receiving regular Retention,
performance BRSR
and career
development
reviews
Diversity and equal opportunity

material topics
GRI 405: 405-1 Diversity Human Pg 81,

Diversity of governance Capital- 228
and Equal bodies and Workforce
Opportunity employees Composition,
2016 BRSR
405-2 Ratio of Human Pg 83,

basic salary and Capital- 272
remuneration of Diversity,
women to men Equity, and
Inclusion at
CTIL, BRSR
Non-discrimination

material topics


STANDARD/ No.
SOURCE OMITTED
GRI 406: Non- 406-1 Incidents Human Pg 83,

discrimination of discrimination Capital- 273
2016 and corrective Diversity,
actions taken Equity, and
Inclusion at
CTIL, BRSR
Local communities

material topics
GRI 413: Local 413-1 Social and Pg 48,

Communities Operations with Relationship 128
2016 local community Capital-
engagement, Empowering
impact communities
assessments, through strong
and CSR policy &
development SEMA
programs
413-2 Social and Pg 48,

Operations with Relationship 128
significant actual Capital-
and potential Empowering
negative communities
impacts on local through strong
communities CSR policy &
SEMA
Supplier social
assessment

material topics
GRI 414: 414-1 New Social and Pg 133

Supplier Social suppliers that Relationship
Assessment were screened Capital-
2016 using social Supplier
criteria Engagement
and Screening
Process


STANDARD/ No.
SOURCE OMITTED
414-2 Negative Social and Pg 133

social impacts in Relationship
the supply chain Capital-
and actions Supplier
taken Engagement
and Screening
Process
Customer health and safety

material topics
GRI 416: 416-1 Social and Pg 138,

Customer Assessment of Relationship 292
Health and the health and Capital-
Safety 2016 safety impacts Customer
of product Privacy and
and service Health and
categories Safety, BRSR
416-2 Incidents Social and Pg 138,

of non- Relationship 292
compliance Capital-
concerning Customer
the health and Privacy and
safety impacts Health and
of products and Safety, BRSR
services
Marketing and labeling

material topics

Marketing and Requirements Relationship 293
Labeling 2016 for product Capital-
and service Customer
information and Relationship
labeling (Product
Quality, &
Traceability),
BRSR


STANDARD/ No.
SOURCE OMITTED

compliance Capital-
concerning Customer
product Relationship
and service (Product
information and Quality, &
labeling Traceability),
BRSR

compliance Capital-
concerning Customer
marketing Relationship
communications (Product
Quality, &
Traceability),
BRSR
Customer privacy

material topics

Customer Substantiated Relationship 294
Privacy 2016 complaints Capital-
concerning Customer
breaches of Privacy and
customer privacy Health and
and losses of Safety, BRSR
customer data

UN SDG Linkage
SDG Linkage Chapter Name Page Number
80, 126
80, 126
80, 126
58, 96, 126
58, 96
58, 66, 80, 126
58, 66, 96, 142

Financial Capital Intellectual Capital
Human Capital Manufactured Capital
Social & Relationship Capital Natural Capital
SDG Linkage Chapter Name Page Number
80, 126
58, 66, 96, 126,

142
58, 66, 96, 142
96, 142
96, 126
92

Glossary Of Abbreviations
3R Reduce, Reuse, Recycle
AI Artificial intelligence
ATFD Agitated Thin Film Dryer
B2B Business to Business
B2C Business to Customer
BBSO Behaviour-Based Safety Observation
BCI Better Cotton Initiative
BCP Business Continuity Plan
BIM Building Information Modelling
BOD Biochemical Oxygen Demand
BREEAM Building Research Establishment Environmental Assessment Methodology
BRSR Business Responsibility and Sustainability Report
CEA Central Electricity Authority
CEA Cotton Egypt Association
CFIR Complaint File Identification and Resolution
CFL Compact Fluorescent Lamps
CFO Chief Financial Officer
CMG Compressed Methane Gas
CNG Compressed Natural Gas
COD Chemical Oxygen Demand
CPCB Central Pollution Control Board
CPP Captive Power Plant
CRM Customer Relationship Management
CSR Corporate Social Responsibility
CTC Cost To Company
CTIL Century Textiles and Industries Limited
DIP De-ink Plant
DLP Data Leakage Prevention
DPS De-ink Plant sludge
EBITDA Earnings Before Interest, Taxes, Depreciation, and Amortisation
ECF Elemental Chlorine Free

EVC Economic Value Creation

EVD Economic Value Distributed
EVG Economic Value Generated
ETP Effluent Treatment Plant
ETPS Effluent Treatment Plant sludge
EMS Environmental Management Systems
ERM Enterprise Risk Management
EPR Extended Producer Responsibility
ESG Environmental, Social, and Governance
ESI Employees' State Insurance
FBB Folding Box Board
FDA Food and Drug Administration
FMCG Fast-moving consumer goods
FSC Forest Stewardship Council
FSSAI Food Safety and Standards Authority of India
GHG Greenhouse gas
GIDC Gujarat Industrial Development Corporation
GIL Grasim Industries Limited
GOTS Global Organic Textile Standard
GRI Global Reporting Initiative
GRS Global Recycled Standard
GST Goods and Services Tax
HIRA Hazard Identification and Risk Assessment
HSD High Speed Diesel
HVAC Heating, ventilation, and air conditioning
IFRS International Financial Reporting Standards Foundation
IGBC India Green Building Council
IHL Industry House Limited
IIRC International Integrated Reporting Council
IOT The Internet of Things
IPCC Intergovernmental Panel on Climate Change

ISO International Organisation for Standardisation

IUCN International Union for Conservation of Nature
JSA Job Safety Analysis
KLD Kilo Liter per day
KMP Key Managerial Person
KPI Key Performance Indicator
kWh Kilo-Watt Hour
LCA Life Cycle Assessment
LED Light Emitting Diode
LEED Leadership in Energy and Environmental Design
LPG Liquefied Petroleum Gas
LTIFR Lost Time Injury Frequency Rate
MICR Magnetic Ink Character Recognition
MIG Made in Green
MJ Mega Joule
MMA Mumbai Metropolitan Area
MMCF Man-made Cellulose Fibres
MME Multiple Effect Evaporation
MSME Micro, Small and Medium Enterprises
MT Metric Tonne
MW Megawatt
MWp Megawatt peak
NABL National Accreditation Board for Testing and Calibration Laboratories
NCR National Capital Region
NGRBC National Guidelines on Responsible Business Conduct
NGO Non-Government Organisation
NOx Oxides of Nitrogen
OEKO-TEX International Association for Research and Testing in the Field of Textile and
Leather Ecology
OHS Occupational Health and Safety

PAT Performance, Achieve and Trade

PCC Precipitated Calcium Carbonate

PF Provident Fund
PIBO Producers, Importers, and Brand Owners
PM Particulate Matter
POSH Policy, and Prevention of Sexual Harassment
PPE Personal Protective Equipment
QMS Quality Management Systems
R&D Research and development
RCS Recycled Claim Standard
RERA Real Estate Regulatory Authority
ROI Return on Investment
RoSPA Royal Society for the Prevention of Accidents
RPA Robotic Process Automation
SAP Systems, Applications & Products in Data Processing
SBS Solid Bleached Sulfate
SEMA Stakeholder Engagement and Materiality Assessment
SMETA Sedex Members Ethical Trade Audit Report
SOP Standard Operating Procedure
SOx Oxides of Sulphur
Sq.Mt. Square Meter
STeP Sustainable Textile Production
STP Sewage Treatment Plant
tCO2e Tons of Carbon Dioxide Equivalent
TJ Tera Joule
TSS Total Suspended Solids
UN SDGs United Nations Sustainable Development Goals
USGBC United States Green Building Council
VFD Variable Frequency Drive
VOC Volatile Organic Compound
YOY Year-on-year
ZDHC Zero Discharge of Hazardous Chemicals
ZLD Zero Liquid Discharge

DIRECTORS’ REPORT
Dear Shareholders,
We have pleasure in presenting the 126th Annual Report of the Company along with the audited statement of accounts for the
year ended 31st March, 2023. As the Covid-19 pandemic has become self-limiting across the world, there was a positive shift
in sentiments, in terms of demand and realisations, resulting in improved profitability of the Company for the financial year
2022-23 after charging all expenses, interest costs etc. The Company managed to continue the growth momentum despite
multiple global headwinds including the Ukraine- Russia conflict which inflicted inflationary pressure directly or indirectly on the
businesses of the Company and created supply chain disruptions. As the threat of reoccurrence of pandemic is still looming,
though at a feeble state, the Company continues to assess and monitor 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 summarized financial results are given below.
1. SUMMARISED FINANCIAL RESULTS:

(` in Crores)
PARTICULARS Standalone Consolidated
2022-23 2021-22 2022-23 2021-22
Earnings before Exceptional items, Finance Cost, 707.44 604.73 554.85 487.57
Tax, Depreciation and Amortisation and Share of
Profit/ (Loss) of Joint Venture (EBITDA)
Less: Finance Cost 89.19 75.03 53.89 52.18
Profit before Exceptional items, Tax, Depreciation 618.25 529.70 500.96 435.39
and Amortisation and Share of Profit / (Loss) of
Joint Venture
Less: Depreciation and Amortisation expenses 222.80 228.05 227.08 230.66
Profit before Exceptional items, Tax and Share of 395.45 301.65 273.88 204.73
Profit / (Loss) of Joint Venture
Add: Exceptional item 134.21 - 134.21 -
Profit before Tax and Share of Profit / (Loss) of 529.66 301.65 408.09 -
Joint Venture
Less: Share of Profit / (Loss) of Joint Venture - - (1.84) (0.13)
Profit before tax 529.66 301.65 406.25 204.60
Less / (Add):
Current Tax 92.84 54.99 92.84 55.01
Mat credit recognized - (54.99) - (54.99)
Deferred Tax 67.96 101.38 48.31 84.01
Deferred tax relating to earlier period 0.55 0.48 0.55 (33.59)
Profit after tax from continuing operations 368.31 199.79 264.55 154.16
Discontinued Operations
Add/ (Less):
Loss before tax from discontinued operations - (7.04) - (7.04)
Gain on sale of Century Yarn and Denim Division - 17.63 - 17.63
Tax (Expense)/ Income of discontinued operations - (3.05) - (3.05)
Net Profit for the year 368.31 207.33 264.55 161.70
Other Comprehensive Income 1.19 0.63 0.18 0.63
Total Comprehensive Income 369.50 207.96 264.73 162.33
Loss Attributable to Non-Controlling Interest - - 7.33 4.83
Total Comprehensive Income of the Company 369.50 207.96 272.06 167.16
Retained Earnings
Balance brought forward 1633.83 1437.04 1433.57 1277.58
Total comprehensive Income for the year 369.50 207.96 272.06 167.16
Equity Dividend (44.68) (11.17) (44.68) (11.17)
Balance carried forward 1958.65 1633.83 1660.95 1433.57
172 Leading with purpose, growing with responsibility.

DIRECTORS’ REPORT (Contd.)
The performance of each business segment of the of Labour Commissioner before High Court. The
Company has been comprehensively discussed in the Company is taking requisite legal steps to defend the
Management Discussion and Analysis Report (forming said Writ Petition.
part of the Annual Report).
8. EXPANSION & MODERNISATION:
2. DIVIDEND:
The Board of Directors has recommended a dividend a) Pulp and Paper:
of 50% i.e. ` 5/- (Rupees Five only) per share, of the As part of technical upgradation and production
face value of `10/- each, for your approval which enhancement, Paper Machine no.4 (Recycle
will be subject to applicable tax in the hands of based paper) has been upgraded with a new state
shareholders. This dividend will be paid when declared of Art technology “Shoe press along with Nipco-P
by the shareholders, in accordance with law. The roll” leading to increase in production capacity by
aggregate amount of dividend will absorb ` 55.85 up to 20% on account of sheet dryness increase.
Crores. Last year the dividend was paid @ 40% subject This has also resulted in reduction in steam
to applicable tax in the hands of shareholders. consumption, % increase in Moisture and quality
improvement. Head box servicing and change
3. TRANSFER TO RESERVES: of both top and bottom lip was done along with
It is proposed to transfer ` Nil (previous year ` Nil) to shoe press installation to reduce 2-sigma cross
Reserves out of retained earnings. directional GSM variation in final Paper.
In addition to this, Rewinders of Paper Machine
4. SHARE CAPITAL: nos.3 and 4 were also technically upgraded
The Company’s paid-up equity Share Capital remains with new slitting station from Mariocotta, Italy
at ` 111.69 Crores as on 31st March, 2023. During to improve the cutting quality. DCS of De-inking
the year, the Company has not issued any Shares or plant and Paper Machine nos. 3 and 4 has been
Convertible Securities. upgraded in place of obsolete system to keep
automation reliability. Double doctoring at Couch
5. EXPORTS: to avoid rewetting and Edge Trim Squirt box to
The total exports of the Company amounted to ` 436.94 reduce Edge cuts/trim carryover with paper have
Crores (Previous year ` 657.08 Crores) representing been additionally installed on both Paper Machine
about 9 percent of its turnover. nos. 3 and 4 for better machine runnability.
Paper Machine no. 1 rewinder unwind stand
6. CREDIT RATING: has been upgraded along with TC coating on
CRISIL has maintained credit rating of ‘CRISIL AA’ drum rolls to increase the speed and quality
and ‘CRISIL A1+’, respectively for the long-term and improvement. Apart from this, 10 high pressure
short-term financial instruments of the Company. This showers of upgraded technology are under
reaffirms the high reputation and trust the Company installation at wire and felt of both paper machine
continues to earn for its sound financial management nos. 1 & 2 for water saving, improved clothing
and its ability to meet financial obligations. cleaning and machine runnability.
Erection work of new Evaporator equipment has
7. SALE OF DISCONTINUED OPERATIONS: been completed. Commissioning of the same is
expected in Q1 FY 24.
Century Yarn and Century Denim:
b) To maintain competitiveness and achieve
As reported last year, the Company had sold and
better quality, modernization & technological
completed the sale transaction in respect of its
upgradation programs continue at all the units of
Century Yarn and Century Denim Units of the Textile
the Company. Stringent cost control measures
Segment in accordance with applicable law. Labour
remain in place in all possible areas and are
Commissioner had rejected an application for raising
regularly reviewed. Special emphasis is being
an Industrial Dispute regarding the sale, filed by few
given to energy and water conservation.
workers. The workers have challenged the said order

9. DIRECTORS: updates with respect to Textiles, Pulp and Paper

a. Mr. J.C. Laddha was appointed as the Managing & Real Estate businesses of the Company.
Director of the Company for the period of three
years i.e. w.e.f. 12th August, 2019 to 11th August, e. Board Evaluation
2022. On completion of his tenure, Mr. Laddha Pursuant to the provisions of the Companies Act,
ceased as Managing Director of the Company 2013 and SEBI LODR Regulations, the Board has
and continued on the Board of the Company w.e.f. carried out an annual performance evaluation
12th August, 2022 as a Non-Executive & Non- of its own performance; that of the Directors
Independent Director. Thereafter, he resigned individually; as well as the evaluation of the
from the Board with effect from 29th September, working of its Audit, Nomination & Remuneration,
2022, citing pre-occupation. The Directors placed CSR, and other Committees of the Board.
on record their deep appreciation for the valuable At the meeting of the Board, all the relevant
services rendered by Mr. J.C. Laddha during his factors that are material for evaluating the
tenure as the Managing Director of the Company performance of individual Directors, the Board
and also as a Non-Executive & Non-Independent and its various Committees, were discussed in
Director. detail. A structured questionnaire, each in line
b. Mr. R.K. Dalmia was the Whole-time Director of with the circular issued by SEBI, for evaluation of
the Company prior to his appointment as the the Board, its various Committees and individual
Managing Director of the Company w.e.f. 12th Directors, was prepared and recommended to
August, 2022 by the Board of Directors at its the Board by the Nomination & Remuneration
meeting held on 25th July, 2022 and approved by Committee, for conducting the required
the shareholders on 20th October, 2022 through evaluation, after taking into consideration the
postal ballot by remote e-voting. inputs received from the Directors, covering
various aspects of the Board’s functioning, such
c. Pursuant to the provisions of Section 152 of
as adequacy of the composition of the Board and
the Companies Act, 2013, Smt. Rajashree Birla
its Committees, execution and performance of
(DIN: 00022995) retires by rotation, as Director,
specific duties, obligations and governance, etc.
at the ensuing Annual General Meeting of the
A separate exercise was carried out to evaluate
Company and being eligible, offers herself for
the performance of individual Directors, including
reappointment. Further in terms of Regulation
the Chairman of the Board, who were evaluated
17(1A) of the SEBI (Listing Obligations and
on parameters such as level of engagement
Disclosure Requirements) Regulations, 2015
and contribution, independence of judgment,
(SEBI LODR Regulations), a special resolution
safeguarding the interest of the Company and
would require to be passed for her re-appointment
its minority Shareholders, etc. The performance
as she has attained the age of 75 years.
evaluation of the Independent Directors was
The Board recommends her reappointment.
carried out by the entire Board, excluding the
Director being evaluated. Independent Directors
d. Familiarization Program for the Independent
fulfill the criteria of independence, and they are
Directors
independent of management. The performance
Over the years, the Company has developed evaluation of the Chairman and non-independent
a robust familiarisation process for the newly Directors was also carried out by the Independent
appointed Directors with respect to their roles and Directors at their separate meeting. The Directors
responsibilities. The process has been aligned expressed their satisfaction with the evaluation
with the requirement under the Companies Act, process.
2013. The process, inter alia, includes providing
an overview of the Textile, Pulp & Paper and Real f. Meetings
Estate businesses of the Company and the risks,
During the year, 6 (six) Board meetings were
and opportunities, etc., associated with them. At
convened and held. The details thereof are
regular intervals, Directors are also familiarized
given in the Corporate Governance Report.
about the best business practices and industry

The intervening gap between the Meetings the Statutory Auditors of the Company were initially
was within the period prescribed under the appointed for a term of five years at the Annual General
Companies Act, 2013. Meeting of the Company held on 28th July, 2016. S R B
C & Co. LLP completed their said term of five years as
10. AWARDS, CERTIFICATES, PRIZES: Statutory Auditors of the Company at the conclusion
Various Divisions/Subsidiary of the Company have of the 124th Annual General Meeting held on 16th
received notable awards as mentioned below: July, 2021 and being eligible under section 141 of the
Companies Act, 2013 were re-appointed for a second
Birla Estates Private Limited (100% subsidiary): term of 5 (five) consecutive years w.e.f. 16th July, 2021
• Birla Navya, project in Gurugram was awarded by the shareholders at the said AGM.
as The Best Residential Project of the Year at
the 14th Realty+ Conclave & Excellence Awards 12. AUDITORS’ REPORT:
(North), 2022 The Auditors’ Report to the Shareholders does not
• Recognized among ET’s Best Brands 2022 at the contain any reservation, qualification, adverse remark
Economic Times Best Brands Conclave 2021-22 or disclaimer. During the year under review, neither
the Statutory Auditors nor the Cost Accountant &
• Apex India Occupational Health & Safety
Secretarial Auditors have, under Section 143(12) of the
Award 2022 – ‘Gold Award’ for Birla Navya in
Companies Act, 2013 reported to the Audit Committee
construction sector
of the Board, any instances of fraud committed against
• RoSPA Health & Safety Awards, 2022 – Awards the Company by its officers and employees, the details
in silver category for Birla Vanya and Birla Alokya of which would otherwise be required to be mentioned
projects in Kalyan and Bengaluru respectively in this report.
• Construction Health, Safety & Environment
Achievement Award at CIDC Vishwakarma 2022, 13. COST AUDITORS AND COST AUDIT REPORT:
Awards Pursuant to Section 148 of the Companies Act, 2013
read with The Companies (Cost Records and Audit)
Birla Century (Textiles Division): Rules, 2014, the Cost accounts and cost records
• GOLD 2022 National Award for Manufacturing are required to be maintained by the Company, in
Competitiveness (NAMC) from the International respect of various manufacturing activities and are
Research Institute for Manufacturing, India required to be audited. Accordingly, such accounts
(IRIM). and cost records are maintained in respect of various
• SEEM National Energy Management Award-Gold manufacturing activities. The cost audit report for
from Society of Energy Engineers & Managers. the financial year 2021-22 was filed with the Ministry
of Corporate Affairs on 22nd August, 2022. M/s. R.
Century Pulp & Paper Division: Nanabhoy & Co., Cost Accountants, were appointed as
• The Division has received first and second the Company’s Cost Auditor.
prize in the 112th and 113th respectively at the Your directors have, on the recommendation of the
“All India Farmers’ Fair and Agro-Industrial Audit Committee, appointed M/s. R. Nanabhoy & Co.,
Exhibition” 2022, organized by and held at the G Cost Accountants, to audit the cost accounts of the
B Pant University of Agriculture & Technology, Textiles and Pulp & Paper products of the Company
Pantnagar, Uttarakhand. for the financial year 2023-24 at a remuneration of
• Recognized as a Top Performer designated ` 1.49 lac.
consumer in Pulp & Paper sector of PAT Cycle As required under the Companies Act, 2013, the
II under National Mission for Enhanced Energy remuneration payable to the cost auditor is required to
Efficiency, on the occasion of 21st BEE Foundation be placed before the members in a general meeting for
Day. their ratification. Accordingly, a proposed resolution
seeking the members’ ratification for the remuneration
11. AUDITORS: payable to M/s. R. Nanabhoy & Co., Cost Auditors, is
S R B C & Co. LLP, Chartered Accountants (ICAI included in the Notice convening the Annual General
Firm Registration No.324982E/ E300003), who are Meeting of the Company.

14. SECRETARIAL AUDIT: followed along with proper explanation relating to

Pursuant to the provisions of Section 204 of the material departures:
Companies Act, 2013 and the Companies (Appointment b. the directors have selected such accounting
and Remuneration of Managerial Personnel) Rules, policies and applied them consistently and made
2014, the Company has appointed M/s. Gagrani & judgments and estimates that are reasonable
Gagan, Company Secretaries in practice (CP No.1388), and prudent so as to give a true and fair view of
to undertake the Secretarial Audit of the Company for the state of affairs of the Company at the end of
the year ending 31st March, 2024. The Secretarial Audit the financial year and of the profit and loss of the
Report for the year ended 31st March, 2023 is annexed Company for that period;
herewith as ‘Annexure–I’ to this Report. The Company c. the directors have taken proper and sufficient
has complied with all applicable Secretarial Standards care for the maintenance of adequate accounting
(SS) issued by the Institute of Company Secretaries records in accordance with the provisions of the
of India (SS1 and SS2), relating to the meetings of the Companies Act, 2013 for safeguarding the assets
Board including its Committees and General Meetings of the Company and for preventing and detecting
which have mandatory application during the year fraud and other irregularities;
under review. The Secretarial Audit Report does not
d. the directors have prepared the annual accounts
contain any adverse qualification, reservation, remark
on a going concern basis;
or disclaimer.
e. the directors have laid down internal financial
15. FIXED DEPOSITS: controls to be followed by the Company and that
such internal financial controls are adequate and
During the year, the Company has not invited or
were operating effectively; and
accepted any deposits from the public and there are
no outstanding deposits in terms of the Companies f. the directors have devised proper systems to
(Acceptance of Deposits) Rules, 2014. ensure compliance with the provisions of all
applicable laws and that such systems were
16. LOANS, GUARANTEES AND INVESTMENTS: adequate and operating effectively.
The details of loans and guarantees given and
19. CTIL EMPLOYEE STOCK OPTION SCHEME 2023
securities provided, and the investments made by the
Company as covered under the provisions of Section At a meeting held on 16th January, 2023, the Board of
186 of the Companies Act, 2013 are given in the Directors approved the formulation of an Employee
Consolidated and Standalone Financial Statements of Stock Option Scheme viz. CTIL Employee Stock
the Company. Option Scheme 2023 (“ESOS 2023” or “Scheme”)
in terms of the Securities and Exchange Board of
17. TRANSFER OF UNCLAIMED DIVIDEND AND India (Share Based Employee Benefits & Sweat
UNCLAIMED SHARES TO INVESTOR EDUCATION Equity) Regulations, 2021 (SEBI SBEB and SE
AND PROTECTION FUND (IEPF) Regulations). The Board mandated the Nomination
The details pertaining to transfer of unclaimed and Remuneration Committee to implement and
dividend and unclaimed shares to IEPF are given in the administer the ESOS 2023. The Shareholders of the
Corporate Governance Report which forms part of this Company have approved ESOS 2023 on 09th March,
Annual Report. 2023 by way of postal ballot through remote e-voting
under which the Company may create, offer and
18. DIRECTORS’ RESPONSIBILITY STATEMENT: grant from time to time, in one or more tranches,
not exceeding 17,25,000 employee stock options to
The Board of Directors acknowledge the responsibility
its employees as defined in the aforesaid scheme
for ensuring compliance with the provisions of
working exclusively with the Company and its group
Section 134(3)(c) read with Section 134(5) of the
company(ies) (as defined under SEBI SBEB and SE
Companies Act, 2013 in the preparation of the annual
Regulations) including subsidiary company(ies) and
accounts for the year ended on 31st March, 2023 and
associate company(ies) of the Company. As per
state that:
the scheme equity shares of the Company would
a. in the preparation of the annual accounts, the
be acquired through secondary acquisition on the
applicable accounting standards have been
platform of a recognized Stock Exchange for cash

consideration by a trust formed for this purpose viz. affected or is likely to be affected. The Policy requires
‘CTIL Employee Welfare Trust’. Each option when that all protected disclosures can be addressed to
exercised would be converted into one fully paid- the Vigilance and Ethics Officer of the Company or
up equity share of ` 10/- each of the Company. The to the Chairman of the Audit Committee / Managing
options under ESOS 2023 would vest not earlier than Director in exceptional cases. All protected disclosures
minimum vesting period of one year and not later under this policy are to be recorded and thoroughly
than five years from the date of grant of options. The investigated. If an investigation leads the Vigilance
exercise price shall be the average purchase price and Ethics Officer / Chairman of the Audit Committee
of shares acquired by the Trust through secondary to conclude that an improper or unethical act has
acquisition in one or more tranches on recognized been committed, the Vigilance and Ethics Officer /
Stock Exchanges. The further details related thereto Chairman of the Audit Committee shall recommend
have been mentioned in the Scheme. For the year to the management of the Company to take such
ended 31st March, 2023, since the Company has disciplinary or corrective action as he may deem fit.
not granted any option to its employees, the relevant The details of the vigil mechanism are also available
disclosures are not applicable. on the Company’s website www.centurytextind.com.
20. KEY MANAGERIAL PERSONNEL: 23. RISK MANAGEMENT:

Mr. J.C. Laddha and Mr. R.K. Dalmia, were the The Company has constituted a Risk Management
Managing Director and Whole-time Director of the Committee, mandated to review the risk management
Company respectively up to 11th August, 2022. Mr. plan/process of the Company. The Risk Management
R.K. Dalmia is the Managing Director of the Company Committee identifies potential risks and assesses
with effect from 12th August, 2022. Mr. Snehal Shah their potential impact with the objective of taking
and Mr. Atul K. Kedia are the Chief Financial Officer and timely action to mitigate the risks, as provided under
Company Secretary respectively of the Company. the Enterprise Risk Management (ERM) Framework of
the Company.
21. CORPORATE GOVERNANCE: The Audit Committee has also been delegated
A separate report on Corporate Governance is enclosed with the responsibility of monitoring and reviewing
as a part of this Annual Report. A certificate from the risk management, assessment and minimization
Auditors of the Company regarding compliance with procedures, developing, implementing and monitoring
the Corporate Governance norms stipulated is annexed the risk management plan and identifying, reviewing
to this Annual Report on Corporate Governance. and mitigating all elements of risks which the Company
may be exposed to.
22. AUDIT COMMITTEE AND VIGIL MECHANISM:
The key risks identified by the Company include,
The Audit Committee comprises of four members and financial & economic risk, competition risk, operational
all of them are Independent Directors. The Company risk, cyber security and data protection risk and
Secretary is the Secretary of the Committee. All compliance of all applicable statutes and regulations.
transactions with related parties are on an arm’s length The Company has well defined ERM policy &
basis. During the year, there are no instances where mechanism to mitigate these risks. The Company
the Board had not accepted the recommendations of reviews the risk register periodically, to align with the
the Audit Committee. The Company has in place a vigil changes in economic environment, market practices
mechanism for Directors and Employees, to report and regulations. The top risks of the company and its
genuine concerns about any wrongful and/or unethical businesses are reviewed at least twice in a year by the
conduct with respect to the Company or its business Risk Management Committee. The last such review
or affairs. This policy provides for formal reporting by was done on 20th March, 2023.
whistle blowers of malpractices, misuse or abuse of
authority, fraud, and violation of the Company’s policies 24. CORPORATE SOCIAL RESPONSIBILITY (CSR)
or rules, manipulations, negligence causing danger to COMMITTEE:
public health and safety, misappropriation of monies,
In terms of the provisions of section 135 of the
unethical behaviour and other matters or activity
Companies Act, 2013, read with Companies
on account of which the interest of the Company is

(Corporate Social Responsibility Policy) Rules, 2014, The salient feature of Company’s Remuneration Policy
the Board of Directors of the Company has constituted is attached as ‘Annexure-III’ and forms a part of this
a Corporate Social Responsibility (“CSR”) Committee. Report. The Remuneration Policy is available on the
The Committee recommends to the Board activities as website of the Company viz. www.centurytextind.com.
specified in Schedule VII of the Companies Act, 2013
to be undertaken during the year. The composition and 26. RELATED PARTY TRANSACTIONS:
terms of reference of the CSR Committee is provided All transactions entered with related parties as defined
in the Corporate Governance report, which forms part under the Companies Act, 2013 during the financial
of this Annual Report. year, were in the ordinary course of business and on
The Company also has in place a CSR Policy and the an arm’s length pricing basis and do not attract the
same is available on the Company’s website: www. provisions of Section 188 of the Companies Act, 2013.
centurytextind.com. During the year, the Company has There were no materially significant transactions with
identified and approved CSR projects of ` 4.45 Crores, the related parties during the financial year, which
being its statutory obligation for financial year 2022- conflicted with the interest of the Company and hence,
23 and the entire amount has already been spent by enclosing of Form AOC-2 is not required. Suitable
the Company in the financial year 2022-23. Further, disclosure as required by the Accounting Standard
the Company has also fulfilled its balance obligation (Ind-AS 24) has been made in the notes to the Financial
for the previous year i.e. 2021-22 by spending the Statements.
amount of ` 0.73 Crores this year. During the year, Prior approval of Audit Committee is obtained for all
the Company undertook several projects covering the related party transactions. Further, prior omnibus
promotion of education (inclusive of providing approval of the Audit Committee is obtained on a yearly
scholarship for needy and meritorious students basis for the transactions which are of a foreseen and
through A World of Opportunity Foundation - AWOO); repetitive nature. The transactions entered pursuant
infrastructure development; preventive healthcare; to the omnibus approval so granted are audited
skill development; sustainable livelihood etc. These and a statement giving details of all related party
projects were primarily initiated in neighbouring transactions is placed before the Audit Committee for
villages around the Company’s plant locations. The its approval, on a quarterly basis. The policy on Related
Company’s key objective is to actively contribute to the Party Transactions as approved by the Board has been
social and economic development of the communities uploaded on the Company’s website.
in which it operates. The Company also provides None of the Directors has any pecuniary relationships
awareness on mental health which has become or transactions vis-à-vis the Company.
increasingly prominent in recent times. The Company
The Solicitors for the Company, M/s. Mulla & Mulla
reached out to around 79 locations across 15 States.
& Craigie Blunt & Caroe, provide the legal services
As a socially responsible and caring Company, we are required by the Company from time to time. The
committed to playing a larger role in building a better, transactions with the said firm are on an arm’s length
sustainable way of life for the weaker and marginalized basis and in the ordinary course of business. Mr. Yazdi
sections of the society and raise the country’s human P. Dandiwala, one of the Directors of the Company is a
development index. Senior Partner in the said firm of Solicitors.
The particulars required to be disclosed pursuant
to the Companies (Corporate Social Responsibility 27. DECLARATION BY INDEPENDENT DIRECTORS:
Policy) Rules, 2014 are given in ‘Annexure II’ forming Necessary declarations have been obtained from
part of this Annual Report. all the Independent Directors that they meet the
criteria of independence under sub-section (6) of
25. NOMINATION AND REMUNERATION COMMITTEE: Section 149 of the Companies Act, 2013 and as per
The Nomination and Remuneration Committee Regulation 25 read with Regulation 16 of SEBI LODR
comprises of four members, of which three, including Regulations. In the opinion of the Board there has been
the Chairman of the Committee, are Independent no change in the circumstances which may affect the
Directors. status of independent directors of the Company and

the Board is satisfied of the integrity, expertise and Niyaara at Worli, Mumbai and Birla Tisya at Rajajinagar,
experience (including proficiency in terms of Section Bengaluru.
150(1) of the Companies Act, 2013 and applicable Last year, Birla Estates Private Ltd. had also entered
rules thereunder) of all Independent Directors on into an agreement to jointly develop a prime 52-acre
the Board. In terms of Section 150 read with Rule 6 land parcel in North Bengaluru with M S Ramaiah
of the Companies (Appointment and Qualification of Realty LLP. Further Birla Estates Private Ltd had also
Directors) Rules, 2014 Independent Directors of the purchased 10.25-acre land at Rajarajeshwari Nagar,
Company have already undertaken requisite steps South Bengaluru. Both these projects are expected to
towards the inclusion of their names in the databank be launched in FY24.
of Independent Directors maintained with the Indian
During the year, Birla Estates Pvt. Ltd. registered a loss
Institute of Corporate Affairs.
after tax of ` 47.90 Crores (previous year profit after
tax of ` 17.70 Crores) and Birla Century Exports Pvt.
28. SIGNIFICANT AND MATERIAL ORDERS PASSED BY
Ltd., another Wholly Owned Subsidiary of the Company
THE REGULATORS OR COURTS:
registered a loss of ` 0.62 Crores (previous year loss of
During the year 2022-23, no significant and material ` 0.91 Crores).
order has been passed by any regulator or by any
None of the Subsidiaries mentioned above is a material
Court or Tribunal which has a material impact on the
subsidiary as per the threshold limit laid down under
financial position of the Company.
the SEBI LODR Regulations.
29. INTERNAL FINANCIAL CONTROL: Industry House Ltd., in which the Company holds
The Company has in place adequate internal financial about 35% of equity share capital is an Associate
control systems, commensurate with the size, scale, Company. Despite this fact, the accounts of Industry
and complexity of its operations. During the year, House Ltd. have not been consolidated with that of the
such controls were tested and no reportable material Company as there is no requirement for the same as
weakness in the operations was observed. The per the IND-AS 28.
Company has appropriate policies and procedures As reported last year your Company has formed a 50:50
for ensuring the orderly and efficient conduct of its Joint Venture in collaboration with Grasim Industries
business, including adherence of the Company’s Limited namely ‘Birla Advanced Knits Private Limited’
policies, safeguarding of its assets, prevention (JV Company) to manufacture Circular Knit Fabrics.
and detection of frauds and errors, accuracy and The project is located at the existing Birla Century
completeness of accounting records and timely Campus in Bharuch District. It is having knitting and
preparation of reliable financial information. During the processing capacity of about 600 Ton of fabric per
year under review, the Company has not come across month. The salient feature of this project is blending
any incidence of fraud. The internal auditor monitors of different fibres majorly Viscose, Modal and Excel
and evaluates the efficacy and adequacy of internal (Lyocell) fibres. At the global level, production through
control systems in the Company. Based on the report this kind of fibres are already popular, however, there
of the internal auditor, the respective departments is less focus among Indian manufacturers and less
undertake corrective action in their respective areas awareness among Indian customers. To capitalize the
and thereby strengthen the controls. Significant audit benefits and to develop the market and by overcoming
observations and corrective actions thereon are the limitations of viscose / viscose blend knits, your
presented to the Audit Committee of the Board. Company had invested in technology, machines skill-
set which can meet the customer expectations at cost
30. SUBSIDIARIES, ASSOCIATE AND JOINT VENTURE competitive price.
COMPANIES: Hence, this project is expected to help India to
Birla Estates Private Ltd., a Wholly Owned Subsidiary substitute import and enhance export. The plant
of the Company has various on-going projects viz. has been erected & commercial production has
‘Birla Vanya’ at Kalyan near Mumbai, ‘Birla Alokya’ at commenced from 01st April, 2023.
Bengaluru, Birla Navya (under Avarna Projects, LLP During the year, the JV Company registered a loss
between Birla Estates and Anantraj) at Gurugram, Birla of ` 1.84 Crores (previous year loss of ` 0.13 Crores)
(50% profit/loss).

31. CONSOLIDATED FINANCIAL STATEMENT: 35. PARTICULARS OF EMPLOYEES:

The Directors also present the audited consolidated The prescribed particulars of employees required
financial statements incorporating the duly audited under Rule 5(1) of the Companies (Appointment and
financial statements of the subsidiaries, as prepared in Remuneration of Managerial Personnel) Rules, 2014
compliance with the Companies Act, 2013, applicable are attached as ‘Annexure-V’ and form a part of this
Accounting Standards and other applicable laws, if any. Report.
A separate statement containing the salient features The information required under Section 197(12) of the
of its subsidiaries, associates and joint venture in the Companies Act, 2013 read with Rule 5(2) and 5(3) of
prescribed form AOC-1 is annexed separately. the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014 and forming part
32. ENERGY CONSERVATION, TECHNOLOGY of the Directors’ Report for the year ended 31st March,
ABSORPTION AND FOREIGN EXCHANGE EARNINGS 2023 is given in a separate Annexure to this Report.
AND OUTGO:
The said Annexure is not being sent along with this
The information on conservation of energy, technology Report to the Members of the Company in line with
absorption and foreign exchange earnings and outgo the provisions of Section 136 of the Companies Act,
stipulated under Section 134(3) (m) of the Companies 2013. Members who are interested in obtaining these
Act, 2013 read with Rule 8(3) of The Companies may write to the Company Secretary at the Registered
(Accounts) Rules, 2014, is annexed herewith as Office of the Company. The aforesaid Annexure is
‘Annexure-IV’. also available for inspection by the Members at the
Registered Office of the Company, 21 days before the
33. PREVENTION OF SEXUAL HARASSMENT OF WOMEN
126th Annual General Meeting and up to the date of
AT WORKPLACE:
the said Annual General Meeting during the business
The Company has zero tolerance for sexual hours on working days.
harassment at workplace. During the year under
None of the employees listed in the said Annexure
review, the Company has received two complaints
is a relative of any Director of the Company. None of
under the Sexual Harassment of Women at Workplace
the employees holds (by himself or along with his/
(Prevention, Prohibition and Redressal) Act, 2013 and
her spouse and dependent children) more than two
the same were investigated in accordance with the
percent of the equity shares of the Company.
procedures prescribed and have been disposed off
by taking appropriate action. These two complaints
36. ANNUAL RETURN:
received during the year, were outstanding as on 31st
The web-link for the Annual Return placed on the
March, 2023 and as on the date of this report, there is
Company’s website is https://www.centurytextind.
no outstanding compliant. The Company has complied
com/assets/pdf/download-forms/annual-
with the provisions relating to the constitution of
return-2023.pdf
an Internal Complaint Committee under the Sexual
Harassment of Women at Workplace (Prevention,
37. GENERAL DISCLOSURES:
Prohibition and Redressal) Act, 2013.The Company
is committed to providing a safe and conducive work i. There were no material changes and
environment to all its employees and associates. commitments affecting the financial position of
the Company between end of the financial year
34. BUSINESS RESPONSIBILITY AND SUSTAINABILITY and the date of report.
REPORTING: ii. There was no revision in the financial statements.
A separate section of Business Responsibility and iii. The Company has not issued any sweat equity
Sustainability Report forms part of this Annual Report shares.
as required under Regulation 34(2) (f) of the SEBI iv. The Company has not issued any shares with
(Listing Obligations and Disclosure Requirements) differential voting rights.
Regulations, 2015.
v. There has been no change in nature of business.

vi. The Company has not made any application dealers, vendors, banks, and other business partners
during the year under Insolvency and Bankruptcy for the excellent support received from them during
Code, 2016 and there is no proceeding pending the year. The Directors place on record their sincere
under the said Code as at the end of the financial appreciation to all employees of the Company for their
year. unwavering commitment and continued contribution
vii. During the year, the Company has not undergone to the Company’s well-being.
any one-time settlement and therefore the
disclosure in this regard is not applicable. Registered Office: On behalf of the Board
Century Bhavan
38. ACKNOWLEDGEMENTS: Dr Annie Besant Road R.K. Dalmia Y.P. Dandiwala
Your directors thank the various Central and State Worli, Mumbai–400 030 Managing Director Director
Government Departments, Organizations and Agencies Dated: 24 April, 2023 DIN: 00040951
th
DIN: 01055000
for the continued help and co-operation extended by
them. The Directors also gratefully acknowledge all
stakeholders of the Company viz. members, customers,

MANAGEMENT DISCUSSION AND ANALYSIS REPORT
This report covers the operations and financial performance unprecedented challenging conditions. There is
of the Company for the year ended 31st March, 2023 and a rise of demand for low-cost products having
forms part of the Annual Report. sustainable and environment - friendly production
processes. Consumers are seeking products that
1. OVERALL REVIEW: are made from renewable materials and from
During the year under review, the Company’s earnings sustainable manufacturing processes. Further,
before interest, tax, and depreciation (EBIDTA) has rising importance of digital technology in textile
shown growth as compared to the previous year products, 3D modelling and other technologies
primarily riding on the back of business performances are enabling manufacturers to create more
of Pulp & Paper Division of the Company. The innovative and customized products while
performance of Textile Division was adversely improving production efficiencies and reducing
impacted due to various headwinds faced by it during waste.
the year. Owing to the healthy increase in demand Hence, there is an optimism that post geopolitical
in real estate sector the performance of the Real stabilization, textile sector will show positive
Estate Division continued to remain buoyant. Working trends due to new opportunities and technological
and operational parameters at all the plants of the innovations supported by domestic & global
Company were satisfactory. demand, investment incentives (PLI) and strong
Last year, Birla Estates Pvt. Ltd. (BEPL), 100% balance sheets of companies. Further, China plus
subsidiary of your Company, entered into an agreement one policy adopted by USA / Europe will give a
with M S Ramaiah Realty, LLP, to jointly develop a boost to Indian Textile Sector.
prime 52 – acres land parcel in North Bengaluru
having an estimated revenue potential of around b. Opportunities and Threats:
` 3,000 crores. Further, during the year BEPL acquired,
on outright basis, about 10.25 acres of prime land at Opportunities:
Rajarajeshwari Nagar in the upscale South Bengaluru • China plus one policy, Economic collapse /
location. This land is planned to be developed as a volatility in Sri Lanka, Myanmar, Bangladesh,
high-end residential complex with estimated revenue and Pakistan has played out in favour of India
potential of around ` 900 crores. Both these projects as the world has started looking at India as
are expected to be launched in FY24 and will increase reliable partner for their requirement.
our presence in Bengaluru. In a bid to accelerate the • Rising demand for low cost, sustainable
momentum achieved by BEPL, it has, in April 2023, and eco-friendly products. This presents
entered the Pune market with the acquisition of 5.76 an opportunity for textile manufacturers to
acres land parcel at Sangamwadi, a central business develop new products that are made from
district, with a development potential of 1.5 million renewable materials and produced using
sq.ft. and a revenue potential of ` 2,500 crores. Your sustainable manufacturing processes. Cost
Company has sold almost 1.2. million sq. ft. carrying a can be reduced by blending with cheaper
booking value of ` 2,183 crores in FY23. man-made fibre.
On-going projects ‘Birla Vanya’ at Kalyan near • Emergence of new Markets: FTA with
Mumbai, ‘Birla Alokya’ and ‘Birla Tisya’ at Bengaluru, Australia, Comprehensive Economic
‘Birla Navya’ at Gurugram and ‘Birla Niyara’ at Worli, Partnership Agreement (CEPA) with UAE
Mumbai, are progressing as per schedule. Phase I of and expected favourable trade agreements
each of the projects viz. Birla Vanya, Birla Alokya and with UK / Europe present an opportunity for
Birla Navya are due for delivery in this financial year. textile manufacturers to expand into new
The Company is completely focused on providing an markets and diversify their customer base.
exceptional experience to all our customers at the time
of delivery. Threats:
• The biggest threat to cotton products is
2. BUSINESS SEGMENT – TEXTILES competition from other low-cost man-made
fibres. Consumers are shifting their focus to
a. Industry Structure and Development:
low-cost products which has led to intense
The Textile Industry is facing exceptional and

MANAGEMENT DISCUSSION AND ANALYSIS REPORT (Contd.)
competition and pricing pressure in the Yarn:

global textile industry. Due to considerable volatility in cotton prices
• There is a high cost to comply with and low demand for fabrics, the yarn prices fell
environmental, social and labour regulations substantially. In some cases, the traders quoted
which can be costly and time - consuming. prices below the contribution level.
• Further the textile industry is highly sensitive
to global economic conditions and can be d. Risks and Concerns:
significantly impacted by global demand There is propagation in cotton prices which
and pricing. cannot be absorbed in finished goods prices.
Preference is shifting from Cotton fibres to man-
c. Segmental Review and Analysis: made fibres i.e. synthetic, polyester etc. which are
available at lower prices. This is putting pressure
Apparel Fabrics: on margin.
During the first half of FY 2022-23, there was
reasonable retail demand for Apparel Fabrics e. Outlook:
in India driven by urbanization, increasing The coming year will be challenging with respect
disposable income and the gradual opening of the to pricing. We have to focus more on offering
economy after the severe effects of the pandemic. new products and meeting customer retail
However, due to lower demand in Europe, the UK price points. Also focus will be on blending with
and USA, the exporters to these countries started manmade fibres that can fit into the price bracket
selling in the domestic market at below - par acceptable to buyers. Overall, the textile market
prices, which consequently led to a reduction in is sombre and expected to take around one
the margins of the Company. During the second quarter to stabilize. Further, we must navigate the
half year, the demand started to slow down due challenging period by differentiating ourselves
to geopolitical uncertainties, high inflation, extra through innovation and quality.
inventories with traders and increasing pressure The manufacturers who will be able to address
to adopt sustainable practices. Above all, there these challenges, while also differentiating
is high pressure to reduce the cost of products. themselves through innovation and quality, are
Overall, there was firefighting throughout the year likely to be successful in times to come.
with a lot of uncertainties and fluctuations and
the year finally closed above planned turnover but 3. BUSINESS SEGMENT – PULP AND PAPER (PULP,
with tighter margins. WRITING & PRINTING PAPER, TISSUE PAPER AND
The Print business, started as outsourcing MULTILAYER PACKAGING BOARD)
activity, maintained the margins and turnover as
projected. a) Industry Structure & Development:
The Indian paper and paperboard packaging
Home-Textiles: market was valued at $ 10.77 Billion in 2021, and
FY 2022-23 was not so good year for home- it is expected to reach USD 15.69 Billion by 2027,
textiles. The importers from USA were reluctant registering a CAGR of 6.63% during the forecast
to issue new orders and were liquidating their period of 2022-2027.
inventories at throwaway prices. The home During the last two years world is steadily reviving
textile export from India faced a sharp decline. from the Covid-19 disruption and geopolitical
Cotton - made bed sheets had to compete with tensions.
products made from manmade fibres which were As per World Bank (in latest India Update) India’s
substantially cheaper. Demand came only for growth continues to be resilient despite some
lower - count products, but at very low price. signs of moderation in growth. Consumption
The Company initiated domestic market of paper is closely linked to the economic
penetration in the Home Textile segment and development of a country. In India, though the per
launched two brands ‘Hill & Glade’ and ‘Virasat’. capita consumption of paper is low, it is gradually
It had done domestic business through these improving with economic growth and various
brands of ` 7 Crore during the year. government initiatives.

The key demand drivers for the paper industry • There is growing competition from imports,
are from combination of factors such as rising especially from ASEAN countries.
income levels, growing per capita expenditure, • BIS certification resulting increased import
rapid Urbanization and a larger proportion of of Copier Paper.
earning population which is anticipated to lead
• Digitalization is affecting paper demand in
consumption and enormous growth potential for
some areas.
the paper industry in the country.
• Higher energy cost imparting
b) Opportunities and Threats: competitiveness.
The Indian paper industry has undergone • Geo-political volatility

significant changes over the past few decades,
with the adoption of modern technology and c) Segmental Review and Analysis:
increased investments in the sector. The industry Globally paper Industry which has witnessed
has also benefited from government policies that the worst hit in the wake of the Covid-19
promote sustainable forest management and the pandemic, had experienced signs of revival in FY
use of eco-friendly materials. 2022-23. Demand for Paper and tissue saw a
Following are the Opportunities & Threats for the stable market condition throughout the year, but
Industry: packaging board experienced some challenges,
in the middle of the year, due to lower demand
Opportunities: from domestic pharma, FMCG, export Food and
Beverages and hosiery market. High volume
• Literacy: Government Policies on education
import from ASEAN countries in writing & printing
(NEP), rising enrollment and through various
segment & BIS certification to certain Chinese and
scheme giving thrust on education.
Indonesian producers increased Copier import
• Growing consumption of packaging paper/ which impacted the domestic paper market.
board in food (Food & Beverages) and
There will be approx. 2.4 Mn tonnes of Virgin
pharma sector.
Board capacity addition in China and Indonesia,
• Hygiene awareness among population post put together, in the next one year which will create
the pandemic. temporary excess supply situation which will also
• Rise in demand for better quality and eco- impact Indian Industry.
friendly paper packaging products.
• Widening of the market due to ban on single- d) Risks and Concerns:
use plastic leading to innovative product Price fluctuation, interrupted availability of raw
creation possibilities. material and rising input cost remain the major
• With exponential growth of the e-commerce concern for the paper industry. As business
sector, the demand for packaging paper, passes on the rising cost due to rise in input
Kraft & board is expected to increase at prices, consumer sentiments are getting affected
parallel pace. and the demand is being further contracted.
• Multinational companies are looking Indian virgin board packaging market is likely to
to replace/minimize plastic from their face tough price competition from international
packaging and paper is having strong suppliers in FY 2023-24.
chances for substitution due to its bio- Risk of higher Import in Writing, Printing & Copier
degradable property. segment from China and Indonesia will lead to
volume & cost pressure.
Threats
• Increasing cost of raw materials. e) Outlook:
• Scarcity of wood. The overall growth remains robust and is

estimated to be 6.9% for the full year with real
• Increasing input cost including coal,
GDP growing 7.7% year-on-year.
chemicals and other inputs rates.

Looking at the Government’s spend on education a home office or school to place for recreation
for next three years which is expected to be ~20% in the evening. This fundamental shift in the
higher than the past three years, the sentiments demand drivers brought about by the pandemic
in the paper industry remain optimistic. Hence, continue to manifest and have ensured that the
greater emphasis on education and literacy market remains stable and healthy even after the
coupled with demand for better quality paper, subsidence of the pandemic.
improving advertising spends are the established The consolidation theme initiated by the regulatory
key drivers for writing & printing paper segment. and macroeconomic reforms continues to play
Similarly, demand for better quality packaging for out with corporate players strengthening their
FMCG, pharma, textile products marked through market share. Residential sales pan India have
organized retail, booming e-commerce and rising grown by 50% in 9M FY23 from the same period
healthcare catalysing the growth of paperboard & in the previous year to reach a market size of
packaging paper market. almost ` 4.2 lakh Crore2. All the key markets in
Also increasing hygiene awareness and the country continue to grow at a rapid pace
preference towards quick service restaurants with moderate price increases. The raw material
will strengthen the tissue demand both At Home prices have stabilized albeit at higher levels. The
(AH) & Away from Home (AFH) market for tissue moderate increase in the property prices will help
paper. ease the pressure on margins.
Going ahead medium to long term outlook of the The office space absorption remained stable
Indian paper industry is positive and is expected across cities. Flexible office space operators
to grow further with the country’s GDP and the continue to increase their market share. India has
economy. established strong credentials as an outsourcing/
offshoring hub, especially in the STEM (Science,
4. BUSINESS SEGMENT – REAL ESTATE Technology, Engineering, and Mathematics)
categories. The country’s large pool of talented
a) Industry Structure and Development: and skilled professionals, cost-effectiveness
India is one of the fastest growing economies and supportive government policies have
in the world owing to its large consumer base, made India the preferred destination for many
the pace of urbanization, ongoing and planned Global Capability Centres. Cities like Bengaluru,
infrastructure projects and the government’s Hyderabad, Delhi NCR, Mumbai, Pune and
commitment to achieving a $5 trillion economy Chennai are the most popular destinations,
by 20251. Real Estate and Construction, which offering a conducive environment for such
is the second-largest employment sector in the innovation hubs in India.
country after agriculture, also drives more than India’s ever-growing data consumption
200 related industries. Currently, the Indian Real stimulated by digital transformation initiatives by
Estate sector is in an upswing, experiencing one most organisations, increasing demand for data
of its most prosperous phases in over a decade. and internet bandwidth driven by the growth of
The trajectory of the Indian residential real social media, the proliferation of smart devices,
estate market was significantly aligned with the the localization of data, the rising popularity of
trajectory of Covid-19 since the onset of the cloud services have spurred the need to store and
pandemic. The pandemic induced a change in the process data3. This has led to a rapid growth in
home ownership sentiment in India. The home the data centre capability in India and is expected
became a secure space for the entire family to double over the next couple of years4.
morphing from place of residence to a gym to
2 Source: Propequity
1 Source: Press Release by Press Information Bureau, Government 3 Source: The Rise of Data Centers in India Link: https://www.stl.tech/
of India, Ministry of Commerce & Industry, dated 11th October, 2018. Link: blog/the-rise-of-data-centers-in-india/ accessed on 07th April 2023.
https://pib.gov.in/Pressreleaseshare.aspx?PRID=1549454 accessed on 07th
April, 2023. 4 Source: Hindu Business Line Article ‘Stellar growth in India’s
data centre capacity’ dated 10th November, 2022. Link: https://www.
thehindubusinessline.com/data-stories/visually/stellar-growth-in-indias-
data-centre-capacity /article66116916 accessed on 07th April 2023.

b) Opportunities and Threats: in full swing, with a complete focus on ensuring

The exceptional growth in the absorption rates safety, maintaining high-quality standards and
due to stable housing demand and positive on time delivery. We have successfully completed
sentiment and declining inventory overhang in all approximately 17 million safe man-hours at all
major markets has resulted in a goldilocks zone. our under-construction projects. Birla Alokya,
The preference for spacious homes within budget Birla Vanya and Birla Navya Phase I are due for
categories at good locations with all amenities delivery in the coming year. We are completely
and necessities within close proximity or within focused on providing an exceptional experience
the complex remains strong. Your company to our customers at the time of delivery.
with a robust business development setup and “BIRLA ESTATES” was recognised as one of the
a strong focus on design and execution is well ET Best Brands 2022 at the The Economic Times
positioned to take advantage of this favourable Best Brands Conclave 2021-22.
situation. The Company acquired about 10 acres of prime
There is a shift towards creating balanced land in the upscale South Bengaluru location
portfolios with JV / JDA and outright acquired during FY23. The land is planned to be developed
projects. The outright acquired projects require as high-end residential complex with estimated
larger upfront investment while giving a deeper revenue potential worth of around ` 900 Crores
profit margin. This creates an opportunity which The deal is an outright acquisition. This project
your Company with best-in-class governance will further strengthen our presence in Bengaluru.
standards and access to institutional funding is The occupancy rate at our two commercial
in a prime position to benefit from. assets, Birla Aurora and Birla Centurion remains
Customer centricity is a key pillar of your at a high level ensuring stable lease rentals.
Company. Ensuring a pleasing experience for
our customers at all touch points of their journey d) Risks and Concerns:
with us is of utmost importance to us. Product The quantum and timing of the impact of the
innovation and thoughtfulness, timely delivery, impending global slowdown on the Indian real
transparency in operations etc. will help us estate sector is yet to be ascertained. Although
achieve this. commodity and raw material prices have
stabilized, they remain slightly high. The moderate
c) Segment Review Analysis: increases in selling price have helped offset the
Your Company has sold almost 1.2 million sq. pressure on the margins. However, if input costs
ft. worth ` 2183 Crores in FY23 continuing the increase further from the present levels, it could
growth trajectory for the organisation. Birla become challenging to absorb and may affect the
Niyaara, Mumbai, our flagship project at the profitability of projects. Inventory overhang in the
heart of the city at Worli has been one of the key markets has been on a decline despite steady
top selling residential projects in MMR and launches due to a rapid growth in absorption.
received an overwhelming response recording Nevertheless, any decline in absorption rates or
sales of ` 2300+ Crore of booking value in just uneven rise in project launches may disrupt the
over a year since launch. Birla Navya, Gurugram demand-supply equilibrium.
continues to sell at an exceptional pace after
having completely sold out the first phase last e) Outlook:
year. The second and third phase of the project The Indian real estate market is expected to
achieved Booking Value of more than ` 250 sustain its growth momentum in FY24 on the
Crores and ` 200 Crores respectively in weeks back of robust end user demand while dealing
from launch. We collected almost ` 861 Crores with the challenges of global headwinds and
in FY23 at an efficiency of more than 97% being higher interest rates. The growth of the sector
a testament to the connect we have been able is led by the increase in the demand for urban
to create with our customers and the trust that and semi-urban accommodations as well as
they place in us. corporate environment and the requirement for
At all our launched projects, project execution is office space.

The residential real estate sector in India has returning to the pre-pandemic peak in H1FY19.
been performing robustly in the past couple of Meanwhile, the Mumbai Metropolitan Region
years, indicating that it is in the initial phases (MMR) and Pune absorbed 24% of the total office
of a long-term upcycle. The pandemic-induced space, approximately 4.55 million sqft6. However,
desire to own a house is expected to remain as and when the global economy experiences a
strong, driving future demand for residential slowdown, the Indian IT-ITeS industry may also
properties, which is dominated by end-users face challenges, which could result in cautious
who are looking for homes for self-use. Despite leasing in the short term, even though the market
an increase in interest rates by 225 basis points is expected to double in the next five years7.
in FY23, demand dynamics have remained Regardless of the global macroeconomic volatility
resilient and are expected to stay that way in and suggestions of an impending international
FY24. The interest rates are expected to remain recession the domestic demand is expected to
stable, however, any further rate increase may remain robust and stable. Birla Estates with its
adversely impact demand. Property prices are established brand, robust processes, experienced
projected to rise by about 5% to 6% over the year, leadership team and superior delivery capability
but developers are expected to offer attractive is well poised to grow rapidly.
value propositions and discounts to offset the
increase in home ownership costs and capitalize 5. INTERNAL CONTROL SYSTEMS AND THEIR
on demand. Large and listed players are likely to ADEQUACY:
continue dominating sales in the coming year The Company follows a robust Internal control
as homebuyers are willing to pay a premium to system to ensure that it compliments its growth
mitigate execution risk. The preference for larger objectives and at the same time complies with laws
homes within a budget range is expected to be and regulations, as well as provide a safety valve
a prominent theme. The rise of alternate asset against fraud and malfeasance. Besides protecting
classes, such as data centers and life sciences the company’s assets, it also constantly checks on the
R&D real estate, in distant suburbs and the contemporariness of its control, policy, and technology
need for larger homes within a budget range, is design. Based on that it suggests improvements
expected to boost residential development in and/or enhancements to its operational processes
these areas. Investor confidence in Indian real and reporting systems.
estate remains steady, with an increase of 3%
An extensive, year-round, independent internal
in PE investments in 9M FY23 compared to 9M
audit has been the edifice of the company’s Internal
FY22. Residential real estate has garnered 23%
Control system. A yearly internal audit plan of the
of total PE investment, up from 17% in the same
various functions within all its division is prepared
period last year5.
and approved by the Audit committee. A quarterly
The implementation of hybrid work models and Audit review is done by the Audit Committee along
the reopening of offices have led to a stable with the auditors and management personnel to agree
demand for high-quality office spaces. This on an action plan to improve and/or enhance areas
was driven primarily by co-working space emanating from such audits. Audit observations are
providers and Global Capability Centres which classified as High, Medium and Low based on risks
have become centres of operational excellence, and impact and a Control Effective Index (CEI©)
product development and innovation hubs. score is scientifically generated. A score above 90%
Bengaluru recorded the highest number of office is considered as adequate performance and a score
space transactions in H1FY23, accounting for below 71% is considered inadequate. Your Company’s
32% of the total (6.08 million sqft), gradually current score stands at 87%.
5 Source: Anarock, PE Investments in Indian Real Estate, Flux Market

6 Source: Anarock India Office Market Update, H1FY23.
Monitor for Capital Flows in Indian Real Estate, 9M FY23.
7 Source: Anarock, India Real Estate Market Viewpoints, Q3 CY22.

6. HIGHLIGHTS OF THE COMPANY’S FINANCIAL PERFORMANCE:

(` in Crores)
Particulars Standalone Consolidated
2022-23 2021-22 2022-23 2021-22
1. Total Income 4856.75 4196.98 4827.17 4174.01
2. Earnings before Exceptional Items, Finance Cost, Tax, 707.44 604.73 554.85 487.57
Depreciation and Amortization and Share of Profit/
(Loss) of Joint Venture (EBITDA)
3. Less: Finance Cost 89.19 75.03 53.89 52.18
4. Profit before Exceptional Items, Tax, Depreciation and 618.25 529.70 500.96 435.39
Amortization and Share of Profit/(Loss) of Joint Venture
5. Less: Depreciation and Amortization 222.80 228.05 227.08 230.66
6. Profit before Exceptional Items, Tax and Share of Profit/ 395.45 301.65 273.88 204.73
(Loss) of Joint Venture
7. Exceptional items 134.21 - 134.21 -
8. Share of Profit/(Loss) of Joint Venture - - (1.84) (0.13)
9. Less/(Add):
Current Tax 92.84 54.99 92.84 55.01
Mat credit recognized - (54.99) - (54.99)
Deferred Tax 67.96 101.38 48.31 84.01
Deferred tax relating to earlier period 0.55 0.48 0.55 (33.59)
10. Profit after tax from continuing operations 368.31 199.79 264.55 154.16
11. Add/(Less):
Loss before tax from discontinued operations - (7.04) - (7.04)
Gain on sale of Century Yarn and Denim Division - 17.63 - 17.63
Tax (Expense)/ Income of discontinued operations - (3.05) - (3.05)
12. Net Profit for the year 368.31 207.33 264.55 161.70
The Consolidated EBITDA including exceptional item from continuing operations for the year 2022-23 is ` 687.22 Crores
(including share of Joint Venture) as against ` 487.44 Crores.
The Standalone EBIDTA including exceptional gain from continuing operations for the year 2022-23 is ` 841.66 Crores as
against ` 647.03 Crores.
In consolidated accounts interest cost has gone up from ` 52.18 Crores to ` 53.89 Crores.
For the Company as a whole, the technical performance of all the plants has been satisfactory.
7. DETAILS OF SIGNIFICANT CHANGES (i.e. CHANGE AS COMPARED TO IMMEDIATE PREVIOUS FINANCIAL YEAR) IN
KEY FINANCIAL RATIOS:
Ratios 2022-23 2021-22 Change Explanation for
(%) change
1. Debtors Turnover Ratio 25.29 21.72 16.44% -
2. Inventory Turnover Ratio 3.99 4.35 -8.28% -
3. Interest Coverage Ratio 6.08 5.13 18.52% -
4. Current Ratio 1.16 1.07 8.41% -
5. Debt Equity Ratio 0.26 0.34 -23.53% -
6. Operating Profit Margin (%) 6.26 5.43 15.29% -
7. Net Profit Margin (%) 5.51 3.91 40.92% Includes
exceptional gain
8. Return on Net Worth (%) 6.55 4.17 57.07% Includes
exceptional gain
The above key financial ratios are in accordance with Note 46A of Consolidated Financial Statements prepared in
accordance with Ind AS requirements and Schedule III of the Companies Act, 2013.

8. HUMAN RESOURCE DEVELOPMENT / INDUSTRIAL We value lives and hence continue to strengthen our
RELATIONS: safety culture to make a “Zero Harm” organization.
We take pride in fostering an inspiring workplace with Our Occupational Health and Safety standards and
an agile and high-performance culture to attract, procedures provide a consistent approach to managing
develop and retain the best talent. As we have major hazards across business operations and in
completed 125 years of our existence, we are fortunate compliance with all applicable laws and regulations
to have a proud legacy built on the strong values of the Country. The modern occupational health and
and increasingly focused on innovation, customer- medical services are accessible to all employees
centricity and sustainability. Industrial relations at all through well-equipped occupational health centres at
plant and sites of the Company continue to be cordial. all manufacturing plant.
The skills, expertise, relevant experience, passion and Further, the Company had taken all precautionary and
commitment of our people facilitate deeper customer safety measures for its employees during pandemic
understanding and engaging relationships which and continue to ensure all preventive and protective
strengthen our brand value as a preferred employer. safeguards for all employees against such threats at
Our exciting and ambitious growth plans allow us to its plant and sites.
offer unparalleled career opportunities in a person’s
career. We expect the best from our employees, 10. CAUTIONARY STATEMENT:
differentiate on the basis of performance and potential Statements in this report on Management Discussion
through career opportunities and rewards and lay and Analysis, describing the Company’s objectives,
particular emphasis on developing, mentoring and projections, estimates, expectations or predictions
training. In line with our strategic focus and operational may be forward looking, considering the applicable
excellence, we have maintained total employee laws and regulations. These statements are based on
strength of 4,080 as on 31st March, 2023 (4,205 as certain assumptions and expectation of future events.
on 31st March, 2022). The number of employees has Actual results could, however, differ materially from
decreased during the year by 125. those expressed or implied. Important factors that
could make a difference to the Company’s operations
9. HEALTH, SAFETY AND SECURITY MEASURES: include finished goods prices, raw materials costs
As a responsible corporate citizen, the Company is and availability, global and domestic demand supply
fully dedicated to human health and safety. Our plants conditions, fluctuations in exchange rates, changes in
and sites follow Occupational Health and Safety Government regulations and tax structure, economic
management standards that integrate occupational developments within India and the countries with
health, hygiene and safety responsibilities into everyday which the Company has business contacts. The
business. We give highest priority to our employees’ Company assumes no responsibility in respect of
health and safety and conduct comprehensive safety the forward-looking statements herein, which may
inspections and audits at every plant and project sites. undergo changes in future based on subsequent
At each location, we promote health and safety among developments, information, or events.
all employees and organize different awareness and
training programs.

Annexure-I
SECRETARIAL AUDIT REPORT
FOR THE FINANCIAL YEAR ENDED 31ST MARCH, 2023
[Pursuant to section 204(1) of the Companies Act, 2013 and rule No.9 of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014]
To, (a) The Securities and Exchange Board of India

The Members, (Substantial Acquisition of Shares and Takeovers)
Century Textiles and Industries Limited, Regulations, 2011;
Century Bhavan, (b) The Securities and Exchange Board of India
Dr. Annie Besant Road, Worli, (Prohibition of Insider Trading) Regulations, 2015;
Mumbai - 400030
(c) The Securities and Exchange Board of India
We have conducted the secretarial audit of the compliance (Issue of Capital and Disclosure Requirements)
of applicable statutory provisions and the adherence to good Regulations, 2018;
corporate practices by Century Textiles and Industries
(d) The Securities and Exchange Board of India
Limited CIN: L17120MH1897PLC000163 (hereinafter
(Share Based Employee Benefits and Sweat
called the “Company”). Secretarial Audit was conducted
Equity) Regulations, 2021;
in a manner that provided us a reasonable basis for
evaluating the corporate conducts/statutory compliances (e) The Securities and Exchange Board of India
and expressing our opinion thereon. (Issue and Listing of Non- Convertible Securities)
Regulations, 2021;
Based on our verification of the Company’s books, papers,
minute books, forms and returns filed and other records (f) The Securities and Exchange Board of India
maintained by the Company and also the information (Registrars to an Issue and Share Transfer Agents)
provided by the Company, its officers, agents and Regulations, 1993 regarding the Companies Act
authorized representatives during the conduct of secretarial and dealing with client;
audit, the explanations and clarifications given to us and the (g) The Securities and Exchange Board of India
representations made by the Management and considering (Delisting of Equity Shares) Regulations, 2009;
the relaxations granted by the Ministry of Corporate Affairs and
and Securities and Exchange Board of India warranted due (h) The Securities and Exchange Board of India
to the spread of the COVID-19 pandemic, we hereby report (Buyback of Securities) Regulations, 2018;
that in our opinion, the Company has, during the audit (vi) The following laws applicable specifically to the
period covering the financial year ended on 31st March, 2023 Company:
complied with the statutory provisions listed hereunder
1. The Real Estates (Regulations and Development)
and also that the Company has proper Board-processes
Act, 2016.
and compliance-mechanism in place to the extent, in the
manner and subject to the reporting made hereinafter: We have also examined compliance with the applicable
clauses of the following:
We have examined the books, papers, minute books, forms
and returns filed and other records maintained by the (i) Secretarial Standards issued by The Institute of
Company for the financial year ended on 31st March, 2023 Company Secretaries of India;
according to the provisions of: (ii) The Securities and Exchange Board of India
(i) The Companies Act, 2013 (the Act) and the rules made (Listing Obligations and Disclosure Requirements)
thereunder; Regulations, 2015 and amendments made thereunder.
(‘Listing Regulations’)
(ii) The Securities Contracts (Regulation) Act, 1956
(‘SCRA’) and the rules made thereunder; During the period under review the Company has complied
with the provisions of the Act, Rules, Regulations, Guidelines,
(iii) The Depositories Act, 1996 and the Regulations and
Standards etc. mentioned above.
Bye-laws framed thereunder;
(iv) Foreign Exchange Management Act, 1999 and the We further report that
rules and regulations made thereunder to the extent of
The Board of Directors of the Company is duly constituted
Foreign Direct Investment, Overseas Direct Investment
with proper balance of Executive Directors, Non-Executive
and External Commercial Borrowings;
Directors and Independent Directors. The changes in the
(v) The following Regulations and Guidelines prescribed composition of the Board of Directors that took place during
under the Securities and Exchange Board of India Act, the period under review were carried out in compliance with
1992 (‘SEBI Act’):- the provisions of the Act and Listing Regulations.

SECRETARIAL AUDIT REPORT (Contd.)
Adequate notice is given to all Directors to schedule the Annexure-A

Board Meetings, agenda and detailed notes on agenda To,
were sent at least seven days in advance except in case of The Members,
meetings called at a short notice for urgency of business Century Textiles and Industries Limited,
and a system exists for seeking and obtaining further Century Bhavan,
information and clarifications on the agenda items before Dr. Annie Besant Road, Worli,
the meeting and for meaningful participation at the meeting. Mumbai – 400030
All decisions at Board Meetings and Committee Meetings Our Secretarial Audit Report of even date is to be read along
have been carried out unanimously as recorded in the with this letter.
minutes of the meetings of the Board of Directors or
1. Maintenance of secretarial record is the responsibility
Committee of the Board, as the case may be.
of the management of the company. Our responsibility
We further report that there are adequate systems and is to express an opinion on these secretarial records
processes in the Company commensurate with the size based on our audit.
and operations of the Company to monitor and ensure
2. We have followed the audit practices and processes
compliance with applicable laws, rules, regulations and
as were appropriate to obtain reasonable assurance
guidelines.
about the correctness of the contents of the Secretarial
We further report that during the audit period – records. The verification was done on test basis to
(i) The Company has issued and allotted 40000 ensure that correct facts are reflected in secretarial
Unsecured, Redeemable, Listed, Non-Convertible records. We believe that the processes and practices,
Debentures of ` 1,00,000 each amounting to ` 400 we followed provide a reasonable basis for our opinion.
crores and Redeemed 4000 Secured, Non-convertible 3. We have not verified the correctness and
Debentures of ` 10, 00,000 each amounting to ` 400 appropriateness of financial records and Books of
crores. Accounts of the company.
(ii) The Company has approved ‘CTIL Employee Stock 4. Where ever required, we have obtained the
Option Scheme, 2023’, Grant of Employee Stock Management representation about the compliance of
Options to or for the benefit of such person(s) laws, rules and regulations and happening of events
working exclusively with the Company and its Group etc.
Company(ies) (as defined in the Securities and
5. The compliance of the provisions of Corporate and
Exchange Board of India (Share Based Employee
other applicable laws, rules, regulations, standards is
Benefits and Sweat Equity) Regulations, 2021)
the responsibility of management. Our examination
including Subsidiary Company(ies) and Associate
was limited to the verification of procedures on test
Company(ies) of the Company, as may be determined
basis.
under the Scheme, Establishment of ‘CTIL Employee
Welfare Trust’ for the purpose of implementation of 6. The Secretarial Audit report is neither an assurance
the Scheme. as to the future viability of the company nor of the
efficacy or effectiveness with which the management
For Gagrani & Gagan
has conducted the affairs of the company.
Company Secretaries
PR No.1199/2021 For Gagrani & Gagan
Company Secretaries
Gagan B. Gagrani PR No.1199/2021
M.No. : FCS 1772
Gagan B. Gagrani
Place : Mumbai CP No. : 1388
M.No. : FCS 1772
Date : April 24, 2023 UDIN : F001772E000146147
Place : Mumbai CP No. : 1388
Note: This report is to be read with our letter of even date
Date : April 24, 2023 F001772E000146147
which is annexed as Annexure A and forms an integral part
of this report.

Annexure-II
ANNUAL REPORT ON CSR ACTIVITIES

1. Brief outline on To actively contribute to the social and economic development of the communities and build a better
CSR Policy of sustainable way of life for the weaker sections of society, through our meaningful engagement in
the Company: the areas of Education, Health Care, Sustainable Livelihood & Women Empowerment, Infrastructure
Development and Sanitation. The projects undertaken are within the broad framework of Schedule
VII of the Companies Act, 2013. The Company’s CSR policy can be accessed on the Company’s
website: www.centurytextind.com
2. Composition of CSR Committee:
S l . Name of Director Designation/Nature of Directorship Number of meetings Number of meetings of

No. of CSR Committee CSR Committee attended
held during the year during the year
1 Smt. Rajashree Birla Chairperson, Non-Independent, 4 3

Non-Executive Director
2 Mr. Yazdi P. Dandiwala Member, Independent, 4 4

3 Mr. Rajan A. Dalal Member, Independent, 4 3

4 Mr. R. K. Dalmia Member, Non-Independent, 4 3

Whole-time Director up to 11th August,
2022 and thereafter, Managing
Director w.e.f. 12th August, 2022
5 Mr. J. C. Laddha* Member, Non-Independent, Managing 1 1

Director up to 11th August, 2022
and thereafter Non-Executive &
Non-Independent Director up to 28th
September, 2022
* Mr. J. C. Laddha ceased to be a member of the Committee w.e.f. 29th September, 2022.
3.
S l . Particulars Web-link(s)
No.
i. Provide the web-link(s) CSR Committee

where Composition https://www.centurytextind.com/assets/pdf/others/committees-of-the-board-and-
of CSR Committee, name-of-its-members-08112019.pdf
CSR Policy and CSR
CSR Policy
Projects approved by
the Board are disclosed https://www.centurytextind.com/assets/pdf/others/csr-policy-2020.pdf
on the website of the CSR Projects
Company. https://www.centurytextind.com/assets/pdf/others/csr-projects-approved-by-the-
board-for-the-fy-2022-23.pdf
4. Provide the executive summary along with web-link(s) of Impact Assessment of CSR Projects carried out in pursuance of
sub-rule (3) of rule 8, if applicable: N.A.
5. (a) Average net profit of the Company as per sub-section (5) of section 135: ` 222.03 Crores
(b) Two percent of average net profit of the Company as per sub-section (5) of section 135: `4.45 Crores
(c) Surplus arising out of the CSR projects or programmes or activities of the previous financial years: NIL
(d) Amount required to be set-off for the financial year, if any: NIL
(e) Total CSR obligation for the financial year (b+c-d): ` 4.45 Crores

ANNUAL REPORT ON CSR ACTIVITIES (Contd.)
6. (a) Amount spent on CSR Projects (both Ongoing Project and other than Ongoing Project):
Sl. Financial Year Amount Spent
No. (` in Crores)
1 2022-23 4.26
2 Ongoing Projects of 2021-22 spent in 2022-23 0.73
Total 4.99
(b) Amount spent in Administrative Overheads: ` 0.19 Crores
(c) Amount spent on Impact Assessment, if applicable. N.A.
(d) Total amount spent for the Financial Year [(a)+(b)+(c)]: ` 5.18 Crores
(e) CSR amount spent or unspent for the Financial Year 2022-23:
Total Amount Amount Unspent (` in Crores)
Spent for the Total Amount transferred to Amount transferred to any fund specified under
Financial Year Unspent CSR Account as per Schedule VII as per second proviso to
(` in crores) sub-section (6) of section 135 sub-section (5) of section 135
Amount Date of Transfer Name of the Fund Amount Date of Transfer
4.45 - - - - -
f) Excess amount for set-off, if any:
Sl. Particular Amount
No. ( ` in Crores)
(1) (2) (3)
i) Two percent of average net profit of the company as per sub-section (5) of section 135 4.45
ii) Total amount spent for the Financial Year 4.45
iii) Excess amount spent for the Financial Year [(ii)-(i)] NIL
iv) Surplus arising out of the CSR projects or programmes or activities of the previous NIL
Financial Years, if any
v) Amount available for set off in succeeding Financial Years [(iii)-(iv)] NIL
7. Details of Unspent Corporate Social Responsibility amount for the preceding three financial years:
1 2 3 4 5 6 7 8
Sl. Preceding Amount Balance Amount Amount transferred Amount Deficiency,
No. Financial transferred to Amount in spent in the to a Fund as specified remaining if any
Year (s) Unspent CSR Unspent CSR Financial Year under Schedule VII as to be spent in
Account under Account under (` in lacs) per second proviso succeeding
sub-section sub-section (6) to sub-section (5) of financial
(6) of section of section 135 section 135, if any years
135 (` in lacs) (` in lacs) Amount Date of (` in lacs)
(` in lacs) Transfer
1 2021-22 73.07 NIL 73.07 NIL - NIL NIL
2 2020-21 *509.27 NIL NIL NIL - NIL NIL
3 2019-20 $ NIL NIL NIL - NIL NIL
*The Company has spent in FY 2021-22 ` 1.18 lac in addition to ` 509.27 lacs transferred to unspent CSR Account.
$
The Company has spent ` 5.22 crores in FY 2020-21 even though the amount was not required to be transferred to a
separate bank account under the relevant prevalent law.
8. Whether any capital assets have been created or acquired through Corporate Social Responsibility amount spent in the
Financial Year:
(√) Yes () No
If Yes, enter the number of Capital assets created/ acquired: 7

Furnish the details relating to such asset(s) so created or acquired through Corporate Social Responsibility amount spent in the Financial Year:
194
(1) (2) (3) (4) (5) (6)
Sl. Short particulars of the property or Pincode of Date of Amount of Details of entity/ Authority/beneficiary of the registered owner
No. asset(s) [including complete address the Property creation CSR Amount
CSR Registration Name Registered address
and location of the property] or asset(s) spent
Number, if
(` In lacs)
applicable
1 Television for Smart Class (1 no.) 393135 24th November, 2.23 N.A. Sardarnagar Primary Sardarnagar Primary School,
Sardarnagar Primary School, 2022 School Post: Valia, Tal: Valia,
Post: Valia, Tal: Valia, Dist: Bharuch,
Dist: Bharuch, Gujarat 393135 Gujarat- 393135
2 Television for Smart Class (1 no.) 393135 24th November, 2.23 N.A. Boridra Primary Boridra Primary School
Boridra Primary School 2022 School Post: Boridra, Tal: Jhagadia,
Post: Boridra, Tal: Jhagadia, Dist: Bharuch,

Dist: Bharuch, Gujarat-393135 Gujarat- 393135
3 Construction of Community Hall at 393110 01st March, 30.09 NA Nana Sanja Gram Nana Sanja Gram Panchayat,
Nana Sanja Gram Panchayat, 2023 Panchayat Post: Nana Sanja,
Post: Nana Sanja, Tal: Jhagadia, Tal: Jhagadia, Dist: Bharuch,
Dist: Bharuch, Gujarat-393110 Gujarat- 393110
4 Construction of CSSD Floor at SEWA 393110 22nd March, 60.00 CSR00002749 Society for Education SEWA Rural Hospital,
Rural Hospital, Jhagadia, 2023 Welfare and Action- Jhagadia, Dist: Bharuch,
Dist: Bharuch, Gujarat-393110 Rural (SEWA Rural) Gujarat- 393110
5 Desktop (05 nos.) 262402 24th December, 2.12 NA Uttarakhand Education Govt. Girls School, Lalkua,
Govt. Girls School, Lalkua, 2022 Department Dist: Nainital, Uttarakhand-
Dist: Nainital, Uttarakhand- 262402 262402
6 Handpumps (Safe Drinking water- 25th March, 30.77 NA Community residing Village- Lalkua & Bindukhatta
Sanitation) (37 nos.) 2023 in villages viz; Lalkua, Dist: Nainital,
Village- Lalkua & Bindukhatta Bindukhatta & Uttarakhand- 262402
Dist: Nainital, Uttarakhand- 262402 262402 Shantipuri Village- Shantipuri,
Village- Shantipuri, Dist: Udham Singh Nagar,
Dist: Udham Singh Nagar, Uttarakhand- 263148
Uttarakhand- 263148 263148
Leading with purpose, growing with responsibility.

(1) (2) (3) (4) (5) (6)
Sl. Short particulars of the property or Pincode of Date of Amount of Details of entity/ Authority/beneficiary of the registered owner
No. asset(s) [including complete address the Property creation CSR Amount
CSR Registration Name Registered address
and location of the property] or asset(s) spent
Number, if
(` In lacs)
applicable
7 Construction of Toilets (40 nos.) 25th March, 15.90 NA Construction of Village- Lalkua & Bindukhatta
Village- Lalkua & Bindukhatta 2023 toilets for community Dist: Nainital,
Dist: Nainital, residing in villages viz; Uttarakhand- 262402
Uttarakhand- 262402 262402 Lalkua, Bindukhatta & Village- Shantipuri,

Village- Shantipuri, Shantipuri Dist: Udham Singh Nagar,
Dist: Udham Singh Nagar, Uttarakhand- 263148
Uttarakhand- 263148 263148
9. Specify the reason(s), if the Company has failed to spend two percent of the average net profit as per sub-section (5) of section 135: Not Applicable
Company Overview
R.K. DALMIA RAJASHREE BIRLA

Place: Mumbai Managing Director Chairperson – CSR Committee
Date: 24th April, 2023 (DIN: 00040951) (DIN: 00022995)
Statutory Reports
Financial Statements
195
Annexure-III
REMUNERATION POLICY
Salient Features of Nomination and Remuneration Policy:
POLICY RELATING TO THE REMUNERATION FOR THE MANAGING
DIRECTOR, WHOLE TIME DIRECTOR, NON-EXECUTIVE/INDEPENDENT DIRECTOR,
KMP AND SENIOR MANAGEMENT PERSONNEL
GENERAL: REMUNERATION TO MANAGING DIRECTOR, WHOLE-

(a) The remuneration / compensation / commission TIME DIRECTOR, KMP AND SENIOR MANAGEMENT
etc. to the Managing Director, Whole-time Director, PERSONNEL:
Non- Executive/Independent Director, KMP and The Managing Director, Whole-time Director / KMP and
Senior Management Personnel will be determined Senior Management Personnel shall be eligible for a
by the Committee and recommended to the Board monthly remuneration as may be approved by the Board on
for approval. The remuneration / compensation / the recommendation of the Committee. The break-up of the
commission etc. shall be subject to the prior/post pay scale and quantum of perquisites including, employer’s
approval of the shareholders of the Company and contribution to P.F, pension scheme, medical expenses,
Central Government, wherever required. club fees etc. shall be decided and approved by the Board on
(b) The remuneration and commission to be paid to the the recommendation of the Committee and approved by the
Managing Director and Whole-time Director shall be in shareholders and Central Government, wherever required,
accordance with the percentage / slabs / conditions reflecting the short and long term performance objectives
as per the provisions of the Companies Act, 2013 and appropriate to the working of the Company and its goals.
the Rules made thereunder.
REMUNERATION TO NON-EXECUTIVE / INDEPENDENT
(c) Increments to the existing remuneration /
DIRECTOR:
compensation structure linked to performance,
should be clear and meet appropriate performance (a) Remuneration / Commission:
benchmarks and may be recommended by the
The Committee noted that in the past the Company
Committee to the Board which should be within the
has paid remuneration to Non-Executive Directors
slabs approved by the Shareholders in the case of
by way of commission and if the Company’s net
Managing Director and Whole-time Director.
profits computed for the purpose under the applicable
(d) The Committee does not propose to fix the actual provisions of the Companies Act, 2013 so permits in
amounts of remuneration that may be payable to future, that practice should be restored. Commission
each individual key managerial personnel or senior may be paid within the monetary limit fixed and
management personnel. However, the management, approved by the Board subject to the overall limit
whilst fixing the remuneration of any such key not exceeding 1% of the net profits of the Company
personnel must consider the following: computed as per the applicable provisions of the
1. The Industry practice for the same level of Companies Act, 2013.
employment/office.
2. Past performance/seniority of the concerned (b) Sitting Fees:
appointee. The Non- Executive / Independent Director may
3. The nature of duties and responsibilities cast receive remuneration by way of fees for attending
upon such person by reason of his holding that meetings of Board or Committees thereof as may
office. be recommended by the Committee and approved
by the Board provided that the amount of such fees
4. The remuneration should be such that it provides
shall not exceed amount prescribed in this behalf by
adequate incentive to the person to give his
the Central Government from time to time. So far as
best to the Company and feel essence of high
the Sitting Fees are concerned, presently, for meetings
satisfaction with his employment.
of the various Committees, the same are at par for all
5. The perquisites to be given to Managing the Committees. It should be suitably modified in due
Director, Whole-time Director/s, KMP & Senior course keeping in mind the time and work involved for
Management Personnel will be as per industry each of the Committees and the industry practice.
practice and as may be recommended by the
Committee to the Board.

ANNEXURE-IV
DISCLOSURE OF PARTICULARS WITH RESPECT TO CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN
EXCHANGE EARNINGS AND OUTGO AS PRESCRIBED UNDER RULE 8(3) OF THE COMPANIES (ACCOUNTS) RULES, 2014
A. CONSERVATION OF ENERGY: • During Pine Needle (Perul) season continued

burning Pine needle (Perul) as blending fuel
(i) the steps taken or impact on conservation of
for saving fossil fuels.
energy:
Textile Division: (iii) Capital investment on energy conservation
equipment: ` 42.70 Crores
• Revamping of existing Turbine to Back
Pressure Turbine. Textile Division:
• Replacement of HOT Insulation with • Replacement of HOT Insulation with
PERLITE insulation. PERLITE insulation.
• Adoption of Premium Efficiency IE5 Motor • Revamping of Back Pressure Turbine.
for Condensate Recovery pump in power Pulp and Paper Division:
plant.
• Installation of Shoe Press at Paper Machine
• Reduction in Pumping energy with Pressure (PM) 4.
Optimizing in Hydro Pneumatic System
& Replacement of MS piping with PPRC B) TECHNOLOGY ABSORPTION:
Material.
(i) the efforts made towards technology absorption:
Pulp and Paper Division:
Textile Division:
• Installation of Shoe Press.
• Development of Pollution and Odour
• Conventional lights replaced with energy
absorbing innovative finish in collaboration
efficient LED lights.
with IIT Delhi.
• Power saving of 400KW by Screening
• Adoption of Japanese Technology with
System optimization at Bagasse Pulp Plant.
high efficiency for development of yardage
• Optimization of Multilayer board layers for
samples.
power saving of 400KW.
• Developed Mobile App for Quick list of
• Power saving of 45KW by replacing Old
customers selected samples.
Adson Gas Compressor with Methane Gas
Compressor. • Installation of UASBR Digestor for Gas
Generation through Effluent Water
• Various energy saving initiative related to
generation from Process House.
Traps, valves & insulation etc.
• Replacing Mechanical control valve with
• Warm Water pump interlocked with Heat
Robotic Control valve in all Steam Pressure
Exchanger to reduce pump running to 10Hrs
Reducing Valve (PRV) in plant.
to save energy.
(ii) The Steps taken by the unit for utilizing
• Upgradation of DCS at De-inking Plant and
alternative sources of energy:
Paper Machine (PM) 3.
Textile Division:
• The bleaching chemical is controlled
• 3MW Renewable (Wind) Power is purchased
through DCS, based on production at Fiber
from Kutch Wind Farm Pvt. Ltd. (KWDPL)
line.
• 1.6MW Renewable (Wind) Power purchased
• Rewinder Slitter upgradation at Paper
from Power Trading Corporation (PTC).
Machine (PM) 3 & 4.
• Upgradation of 16MW Turbine
• Continued usage of Black Liquor & Pith communication from Modbus to ethernet.
(Biomass product) for steam generation.
• Refurbishment of lime mud filter control
• Continued usage of CMG at Tissue plant in operator panel.
place of LPG.
• Upgradation of rotary consistency
• Continued utilization of solar Energy. transmitter to optical type at Fiber line.
• Continued utilization of Bark in Boiler 7 & 8 • Upgradation of COL system at Paper
as a blending fuel for saving fossil fuels. Machine (PM) 3.

DISCLOSURE OF PARTICULARS WITH RESPECT... (Contd.)
• Installation of CD moisture control system • Energy Generation of 30000 Units per

at Paper Machine (PM) 3. day with same coal consumption through
• Installation of Edge trim Suction box unit, turbine.
Edge Trim Stabilization box, and Suction Pulp and Paper Division:
Couch roll Shell & double doctoring at Paper • Reduction in Power consumption.
Machine (PM) 3 & 4.
• Quality Improvement.
• Installation of Auto Radial reel packing
• Reduction in Steam consumption.
machine as against manual HDPE packing
in WPP. • Increase in Renewable share.
• Installation of New Automatic core cutting (iii) in case of imported technology (imported during
machine with straight circular knife instead the last three years reckoned from the beginning
of Saw cutter at Tissue Machine, WPP and of the financial year)
Paper Machine (PM) 4. NIL
• Yankee coating shower spread angle
(iv) The expenditure incurred on Research and
increase from 80 degree to 110 degree for
Development
uniform and triple coverage.
(` in Crores)
• Installation of High-pressure oscillation
needle shower inside the wire at Tissue (a) Capital expenditure 3.12
machine. (b) Recurring expenditure 4.35
(ii) the benefits derived as a result of above efforts: (c) Total 7.47
Textile Division: (d) Total R&D expenditure as a 0.16%

percentage of total turnover
• Development of value-added product in the
market.
C. FOREIGN EXCHANGE EARNINGS AND OUTGO:
• Helped to develop SMS (Sales Man Samples)
The Foreign Exchange earned in terms of actual
with minimum lead time.
inflows during the year and Foreign Exchange outgo
• Helped to reduce manual error during during the year in terms of actual outflows.
sample selection at customer place.
(` in Crores)
• Energy Savings of 200 Unit per day achieved
Foreign Exchange earned (inflow) 281.83
through pumping power reduction.
Foreign Exchange used (outflow) 1095.50
• Potential of Replacement of 84 SCM Natural
Gas in Canteen and 688 Units Energy
Generation through Waste to power Energy, On behalf of the Board,
Increase in RO Membrane life. R. K. DALMIA Y. P. DANDIWALA
• Reduction in Steam consumption & Managing Director Director
resolution in Water dropping issue in PAD DIN: 00040951 DIN: 01055000
Steam. Dated: 24th April, 2023

Annexure-V
DETAILS PERTAINING TO REMUNERATION AS REQUIRED UNDER SECTION 197(12) OF THE COMPANIES ACT, 2013 READ
WITH RULE 5(1) OF THE COMPANIES (APPOINTMENT AND REMUNERATION OF MANAGERIAL PERSONNEL) RULES, 2014
(i) The percentage increase in remuneration of each Director, Chief Financial Officer and Company Secretary during the
financial year 2022-23, ratio of the remuneration of each Director to the median remuneration of the employees of the
Company for the financial year 2022-23:
Sr. Name of Director / KMP Designation Remuneration of % increase in Ratio of remuneration

No. Director/KMP for Remuneration of each Director/to
financial year 2022-23 in the financial median remuneration
(` in lacs) year 2022-23 of employees
1. Mr. Kumar Mangalam Chairman 33.72 -1.20 8.41

Birla
2. Smt. Rajashree Birla Non-Executive 34.52 -0.89 8.61

Non-Independent
Director
3. Mr. Yazdi P. Dandiwala Non-Executive 38.02 5.52 9.48

Independent Director
4. Mr. Rajan A. Dalal Non-Executive 37.62 5.88 9.38

5. Mr. Sohanlal K. Jain Non-Executive 36.77 4.37 9.17

6. Ms. Preeti Vyas Non-Executive 35.37 3.03 8.82

7. Mr. R. K. Dalmia1 Whole-time Director 531.58 6.77 132.56

till 11th August,
2022 and Managing
Director w.e.f.
12th August, 2022.
8. Mr. J. C. Laddha2 Managing Director 171.14 NA3 42.68

till 11th August, 2022
and Non-Executive
& Non-Independent
Director from 12th
August, 2022 till 28th
September, 2022.
9. Mr. Snehal Shah Chief Financial 172.66 25.80 NA

Officer
10. Mr. Atul K. Kedia Company Secretary 90.10 10.47 NA

1. Mr. R. K. Dalmia (DIN: 00040951) was the Whole-time Director of the Company prior to his appointment as the Managing Director of the
Company w.e.f. 12th August, 2022 by the Board of Directors at its meeting held on 25th July, 2022 and approved by the shareholders on
20th October, 2022 through Postal Ballot via remote e-voting.
2. Mr. J. C. Laddha (DIN: 03266469) was appointed as the Managing Director of the Company for the period of 3 years i.e. 12th August,
2019 to 11th August, 2022. On completion of his tenure, Mr. Laddha ceased as Managing Director of the Company and continued on the
Board as a Non-Executive & Non-Independent Director of the Company till 28th September, 2022 as he resigned from the Board w.e.f.
29th September, 2022.
3. Not comparable since his remuneration for financial year 2022-23 as Managing Director was only up to 11th August, 2022 and as Non-
Executive & Non-Independent Director was from 12th August, 2022 to 28th September, 2022 against full year’s remuneration for financial
year 2021-22.

DETAILS PERTAINING TO REMUNERATION... (Contd.)
(ii) The median remuneration of employees of the till 11th August, 2022 prior to his appointment
Company during the financial year 2022-23 was as the Managing Director of the Company w.e.f.
` 4.01 Lacs. 12th August, 2022 and Mr. J. C. Laddha ceased
(iii) In the financial year, there was an increase of as Managing Director of the Company w.e.f. 12th
5.80% in the median remuneration of employees. August, 2022 during the financial year 2022-23.
(iv) There were 4,080 permanent employees on the (vi) There are no variable component of remuneration
roll of the Company as on 31st March, 2023. availed by the director except Mr. J. C. Laddha,
Managing Director upto 11th August, 2022,
(v) Average percentage increase made in the salaries
which is based on the recommendations of the
of employees other than Managerial Personnel in
Nomination and Remuneration Committee as
the last financial year i.e. 2022-23 was 8.50%.
per the Remuneration Policy for Directors, Key
Whereas the average increase in the Managerial Managerial Personnel and other Employees.
remuneration for the financial year 2022-23 was
(vii) It is hereby affirmed that the remuneration paid is
not comparable with 2021-22 as Mr. R. K. Dalmia
as per the Remuneration Policy for Directors, Key
was the Whole-time Director of the Company
Managerial Personnel and other Employees.

“FORM AOC-1”
Statement containing salient features of the financial statement of subsidiaries
or associate companies or joint ventures
(Pursuant to first proviso to sub-section (3) of section 129 of the Companies Act, 2013
read with rule 5 of Companies (Accounts) Rules, 2014)
Part A: Subsidiaries
(` in Crores)
Sr. Name of the subsidiary Birla Birla Birla Century Avarna Birla Birla
No. Estates Century International Projects LLP Tisya LLP Arnaa LLP
Private Exports LLC (Subsidiary (Subsidiary of (Subsidiary of (Subsidiary of
Limited Private of Birla Century Birla Estates Birla Estates Birla Estates
Limited Exports Private Private Private Private
limited) Limited) Limited) Limited)
1 The date since when subsidiary was 26th 13th 19th 19th 21st 24th
acquired/ incorporated December November August June November February
2017 2018 2019 2019 2019 2022
2 Reporting period for the subsidiary Same as reporting period of Century Textiles and Industries Limited
concerned, if different from the holding
company’s reporting period
3 Reporting currency and Exchange Indian Indian USD Exchange Indian Rupees Indian Rupees Indian Rupees
rate as on the last date of the relevant Rupees Rupees Rate as at
Financial year in the case of foreign 31st March 2023:
subsidiaries ` 82.22
4 Share capital 200 0.50 0.10 0.05 0.05 0.25
5 Reserves and surplus (143.27) (21.13) (1.96) (29.30) (9.01) (0.18)
6 Total assets 1399.38 3.89 1.67 814.58 187.08 86.46
7 Total Liabilities 1342.65 3.60 3.51 843.78 195.99 86.15
8 Investments 0.35 0.10 - - - -
9 Turnover 57.51 2.18 5.28 - - -
10 Profit / (Loss) before taxation (45.70) (0.27) (0.60) (9.54) (4.11) (0.18)
11 Provision for taxation 11.64 - - - - -
12 Profit / (Loss) after taxation (34.06) (0.27) (0.60) (9.54) (4.11) (0.18)
13 Proposed Dividend - - - - - -
14 Extent of shareholding (in percentage) 100% 100% 100% 50% 40% 47%
Notes:
1. Names of subsidiaries which are yet to commence operations: NIL
2. Names of subsidiaries which have been liquidated or sold during the year: NIL
3. Avarna Projects LLP, Birla Tisya LLP and Birla Arnaa LLP have been considered as the subsidiaries of Birla Estates Private
Limited as per Ind AS.

Part B: Associates and Joint Ventures

(` in Crores. except share)
Sr. Name of Associates or Joint Ventures Industry House Limited Birla Advanced Knits
No. Private Limited
1 Latest audited Balance Sheet Date 31st March 2022 31st March 2023
2 Date on which the Associate or Joint Venture 27th November 1952 14th July, 2021
was associated or acquired
3 Shares of Associate or Joint Ventures held by
the company on the year end
a. Number of shares 5,625 Equity Shares 2,50,00,000 Equity
Shares
b. Amount of Investment in Associates or Joint 0.04 25.00
Venture
c. Extent of Holding (in percentage) 35.28% 50.00%
4 Description of how there is significant influence No significant influence as per Ind AS 28 Joint Venture
5 Reason why the associate/joint venture is not As the Company (Century Textiles and Consolidated
consolidated Industries Limited) does not have significant
influence over Industry House Limited,
the Company has not considered it as an
associate as per Ind AS 28 “Investment in
Associates and Joint Ventures” and hence
not consolidated
6 Net worth attributable to shareholding as per 4.32 23.16
latest audited Balance Sheet
7 Profit or Loss for the year attributable to 0.37 (1.84)
shareholding as per latest audited Balance
Sheet
i. Considered in Consolidation No Yes
ii. Not Considered in Consolidation 0.37 -
Notes:
1. Names of Associates and Joint Ventures which are yet to commence operations: NIL
2. Names of Associates and Joint Ventures which have been liquidated or sold during the year: NIL
For and on behalf of Board of Directors of

Directors
Rajashree Birla-DIN No: 00022995
Yazdi P. Dandiwala-DIN No: 01055000
Atul K.Kedia Snehal Shah R.K.Dalmia Rajan A. Dalal-DIN No: 00546264
Mumbai : 24th April 2023 Sr. Vice President (Legal) & Chief Financial Officer Managing Director Sohanlal K. Jain-DIN No: 02843676
Place: Mumbai Company Secretary DIN No: 00040951 Preeti Vyas-DIN No: 02352395

CORPORATE GOVERNANCE REPORT
A report on Corporate Governance is set out in compliance on enhancement of long-term stakeholder value
with the Corporate Governance requirements as stipulated through adoption of best governance and disclosure
in Regulation 34(3) read with Schedule V of the Securities practices.
and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015 (‘Listing II. BOARD OF DIRECTORS:
Regulations’).
(a) Composition of the Board:
I. THE COMPANY’S PHILOSOPHY ON CORPORATE As on 31st March, 2023, the Board of Directors
GOVERNANCE: comprises seven members consisting of six
The essence of good Corporate Governance lies in Non-Executive Directors who account for eighty
promoting and maintaining integrity, transparency, five percent of the Board’s strength as against the
accountability, sustainability and safety across all minimum requirement of fifty percent as per the
business practices. Good Corporate Governance Listing Regulations. The Non-Executive Directors
has always been intrinsic to the management of the are eminent professionals, having considerable
business and affairs of your Company. In line with professional experience in their respective fields.
the above philosophy, your Company continuously The composition is as under:-
endeavors for excellence and at the same time focuses
Name of the Category of Directorships No. of other Board No. of List of Directorship Category of
Director Director in other Committee(s) of Shares held in other Listed Directorship
Indian Public which he/she is a held in the Companies in other Listed
Limited Chairman /Member@ Company Companies
Companies$ as on 31st
Member Chairman March, 2023
Mr. Kumar Promoter 07 - - - 1. Grasim Industries Non-Executive

Mangalam -Non- Limited Non-Independent
Birla - Executive 2. Hindalco Industries Non-Executive
Chairman Limited Non-Independent
[DIN: 3. UltraTech Cement Non-Executive
00012813] Limited Non-Independent
4. Aditya Birla Fashion Non-Executive
and Retail Limited Non-Independent
5. Aditya Birla Capital Non-Executive
Limited Non-Independent
6. Aditya Birla Sun Life Non-Executive
AMC Limited Non-Independent
Smt. Promoter- 05 - - - 1. Grasim Industries Non-Executive

Rajashree Non- Limited Non-Independent
Birla [DIN: Executive 2. Hindalco Industries Non-Executive
00022995] Limited Non-Independent
3. UltraTech Cement Non-Executive
4. Pilani Investment Non-Executive
and Industries Non-Independent
Corporation Limited
5. Century Enka Non-Executive
Mr. Yazdi P. Independent- 05 05 - - 1. Hindalco Industries Non-Executive

Dandiwala Non- Limited Independent
[DIN: Executive 2. Pilani Investment Non-Executive
01055000] and Industries Independent
Corporation Limited
3. Grasim Industries Non-Executive
Limited Independent

CORPORATE GOVERNANCE REPORT (Contd.)
Name of the Category of Directorships No. of other Board No. of List of Directorship Category of
Director Director in other Committee(s) of Shares held in other Listed Directorship
Indian Public which he/she is a held in the Companies in other Listed
Limited Chairman /Member@ Company Companies
Companies$ as on 31st
Member Chairman March, 2023
Mr. Rajan A. Independent- 01 01 01 - 1. Sutlej Textiles and Non-Executive

Dalal [DIN: Non- Industries Limited Independent
00546264] Executive
Mr. Sohanlal Independent- 01 02 02 - 1. Century Enka Non-Executive

K. Jain [DIN: Non- Limited Independent
02843676] Executive
Ms. Preeti Independent- 01 - - - 1. Aditya Birla Fashion Non-Executive

Vyas [DIN: Non- and Retail Limited Independent
02352395] Executive
Mr. R. K. Executive- 04 - - 7,150 - -

Dalmia [DIN: Managing
00040951] Director
w.e.f. 12th
August, 2022
@
Committee positions only of the Audit Committee and Stakeholders’ Relationship Committee in Public Limited Companies
have been considered.
$
Directorship is excluding Private Limited Companies, Foreign Companies and Companies under Section 8 of the Companies
Act, 2013.
Notes:
1. In terms of provisions of the Companies Act, 2013, Smt. Rajashree Birla is related to Mr. Kumar Mangalam Birla
being her son, except this, no director is related to any other director on the Board.
2. Memberships of the Directors in various Committees are within the permissible limits of the Listing Regulations.
3. Mr. J. C. Laddha (DIN: 03266469) was appointed as the Managing Director of the Company for the period of
3 years i.e. w.e.f. 12th August, 2019 to 11th August, 2022. On completion of his tenure, Mr. Laddha ceased as
Managing Director of the Company and continued on the Board of the Company as a Non-Executive & Non-
Independent Director till 28th September, 2022 as he resigned from the Board w.e.f. 29th September, 2022.
4. Mr. R. K. Dalmia (DIN: 00040951) was the Whole-time Director of the Company prior to his appointment as the
Managing Director of the Company w.e.f. 12th August, 2022 by the Board of Directors at its meeting held on 25th
July, 2022 and approved by the shareholders on 20th October, 2022 through Postal Ballot via remote e-voting.
(b) Board Meetings and attendance of Directors:

(i) The members of the Board have been provided with the requisite information mentioned in the Listing
Regulations well before the Board meetings.
(ii) During the year, the Board of Directors met 6 (six) times on 25th April, 2022, 17th June, 2022, 25th July, 2022,
26th October, 2022, 16th January, 2023 and 31st January, 2023. The maximum interval between any two
meetings held during the year did not exceed 120 days.

(iii) The attendance recorded for each of the Directors at the Board Meetings during the year ended as on
31st March, 2023 and of the last Annual General Meeting (AGM) is as under:-
Name of Board of Directors Number of meetings AGM i.e.

Held during the tenure Attended during the tenure 18th July, 2022
Mr. Kumar Mangalam Birla 06 03 Yes

Smt. Rajashree Birla 06 03 Yes
Mr. Yazdi P. Dandiwala 06 06 Yes
Mr. Rajan A. Dalal 06 06 Yes
Mr. Sohanlal K. Jain 06 06 Yes
Ms. Preeti Vyas 06 05 Yes
Mr. R. K. Dalmia 1
06 06 Yes
Mr. J. C. Laddha 2
03 03 Yes
1
Mr. R. K. Dalmia was the Whole-time Director of the Company till 11 August, 2022 and he is the Managing
th
Director w.e.f. 12th August, 2022.

2
Mr. J. C. Laddha was the Managing Director of the Company till 11th August, 2022 and continued as Non-
Executive & Non-Independent Director from 12th August, 2022 to 28th September, 2022.
(c) Code of Conduct:

The Company has framed a Code of Conduct for the members of the Board of Directors and Senior Management
Personnel of the Company. The said Code of Conduct is available on the website of the Company i.e.
www.centurytextind.com. The declaration by Mr. R. K. Dalmia, Managing Director of the Company regarding
compliance by the Board members and Senior Management Personnel, with the said Code of Conduct is given
as Annexure A to this report. In addition to this, a separate Code of Conduct for dealing in equity shares and other
securities conferring voting rights in the Company is also in place and has been complied with.
(d) Chart or a Matrix setting out the Skills/Expertise/Competencies of the Board of Directors:
The Board of Directors of the Company possess the requisite skills/expertise/competencies in the context of its
businesses to function effectively. The core skills/expertise/competencies that are available with the Directors are
as under:
Name of Directors (Skills/Expertise/Competencies)
Mr. Kumar Mangalam Birla Business Strategy, Planning and Corporate Management
Smt. Rajashree Birla Corporate Management and Discharge of Corporate Social Responsibility
Mr. Yazdi P. Dandiwala Legal Compliance and Risk Management
Mr. Rajan A. Dalal Accounting and Financial Skills
Mr. Sohanlal K. Jain Legal Compliance and Risk Management
Ms. Preeti Vyas Designing and Communication, Advertising and Media
Mr. R. K. Dalmia Production, Marketing, Accounting and Financial Skills
All directors of the Company have an expertise in the field of Corporate Governance.
e) Confirmation from the Board of Directors in context to Independent Directors:

The Board of Directors has confirmed that in the opinion of the Board, the Independent Directors fulfill the conditions
specified in Listing Regulations and are independent of the management.
f) Detailed reasons for the resignation of an Independent Director who resigns before the expiry of his/her tenure
along with a confirmation by such director that there are no other material reasons other than those provided:
No Independent Director has resigned before expiry of his/her tenure.

III. COMMITTEES OF THE BOARD OF DIRECTORS:

The Board has constituted various Committees of Directors with respective terms of reference as per the provisions of the
Listing Regulations and Companies Act, 2013 (the Act) to deal with matters and plays a vital role in improving the Board
effectiveness in the areas where more focus and extensive discussions are required. The composition of the committees
of the Board as on 31st March, 2023 are as follows:
Audit Nomination Stakeholders’ Corporate Risk Committee Finance Prevention of

Committee and Relationship Social Management of Committee Insider Trading
Remuneration Committee Responsibility Committee Independent Regulations
Committee Committee Directors Committee
Mr. Yazdi P. Mr Rajan Mr. Rajan Smt. Mr. Yazdi P. Mr. Yazdi P. Mr. Mr. Yazdi P.
Dandiwala A. Dalal A. Dalal Rajashree Birla Dandiwala Dandiwala Yazdi P. Dandiwala
(Chairman) (Chairman) (Chairman) (Chairperson) Dandiwala
Mr. Rajan A. Mr. Kumar Mr. Yazdi P. Mr. Yazdi P. Mr. Rajan A. Mr. Rajan A. Mr. Rajan Mr. Rajan A.
Dalal Mangalam Dandiwala Dandiwala Dalal Dalal A. Dalal Dalal
Birla
Mr. Sohanlal K. Mr. Yazdi P. Ms. Preeti Mr. Rajan A. Mr. Sohanlal Mr. Sohanlal Mr. R. K. Mr. R. K.
Jain Dandiwala Vyas Dalal K. Jain K. Jain Dalmia Dalmia
Ms. Preeti Vyas Mr. Sohanlal K. Mr. R. K. Mr. R. K. Mr. R. K. Ms. Preeti
Jain Dalmia Dalmia Dalmia Vyas
a. Audit Committee:
The Audit Committee was constituted by the Board at its meeting held on 27th May, 2000 and was reconstituted on
05th May, 2014. All the members of the Audit Committee are Non-Executive Independent Directors and are financially
literate and one member has accounting and related financial management expertise.
During the year, five meetings of the Audit Committee were held i.e. on 25th April, 2022, 25th July, 2022, 04th October,
2022, 26th October, 2022 and 31st January, 2023.
The details of composition as on 31st March, 2023 and attendance of the members at the Audit Committee meetings
held during FY2022-23 are as given below:
Name of the members of the Audit Committee Number of meetings

Held during the tenure Attended during the tenure
Mr. Yazdi P. Dandiwala (Chairman) 05 05
Mr. Rajan A. Dalal 05 04
Mr. Sohanlal K. Jain 05 05
Mr. J. C. Laddha 1
02 02
Ms. Preeti Vyas 2
01 01
1
Mr. J. C. Laddha ceased as a member w.e.f. 29 September, 2022.
th
2
Ms. Preeti Vyas inducted as a member at the meeting of the Board of Directors held on 26th October, 2022.
At the invitation of the Company, representatives from various divisions of the Company, Internal Auditors, Cost
Auditors, Statutory Auditors, Chief Financial Officer and Company Secretary, who acted as Secretary to the Audit
Committee, also attended the Audit Committee meetings to respond to queries raised at the Committee meetings.
The role and Terms of Reference of the Audit Committee cover the matters specified for Audit Committee under
Listing Regulations as well as in Section 177 of the Act.
b. Nomination and Remuneration Committee:

The brief description of the Terms of Reference of Nomination and Remuneration Committee (NRC) is to guide the
Board in relation to the appointment and removal, identifying persons and to recommend/review remuneration of the
directors including Executive Directors, Key Managerial Personnel (KMP) and Senior Management Personnel.

Remuneration policy of the Company is directed towards rewarding performance, based on review of achievements
on a periodical basis. The remuneration policy is in accordance with the existing industry practice.
Nomination and Remuneration Committee has presently four Non-Executive Directors as its members comprising of
three Independent Directors and one Promoter Director (i.e. Chairperson of the Company).
During the year, four meetings of the NRC were held i.e. on 25th April, 2022, 25th July, 2022, 26th October, 2022 and
16th January, 2023. The recommendations of the NRC have been accepted by the Board.
The details of composition as on 31st March, 2023 and attendance of the members at the NRC meetings held during
FY2022-23 are as given below:
Name of the members of Nomination and Remuneration Number of meetings
Committee Held during the tenure Attended during the tenure
Mr. Rajan A. Dalal1 (Chairman) 04 04
Mr. Kumar Mangalam Birla 04 02
Mr. Yazdi P. Dandiwala 2
04 04
1
Mr. Rajan A. Dalal appointed as the Chairman of the Committee w.e.f. 26th October, 2022.
2
Mr. Yazdi P. Dandiwala ceased to be the Chairman w.e.f. 26th October, 2022 and continued as the member of the
Committee from the said date.
Performance evaluation criteria for Independent Directors:

The framework used to evaluate the performance of the Independent Directors is based on the expectation that
they are performing their duties in a manner which should create and continue to build sustainable value for the
shareholders, and in accordance with the duties and obligations imposed upon them.
c. Stakeholders’ Relationship Committee:

Stakeholders’ Relationship Committee (SRC) of the Board comprises of three Non-Executive Independent Directors
and one Executive Director. The composition of the Committee complies with the requirements of the Listing
Regulations and the Act.
During the year, one meeting of the SRC was held on 24th January, 2023.
The details of composition as on 31st March, 2023 and attendance of the members at the SRC meetings held during
FY2022-23 are as given below:
Name of the members of Stakeholders’ Relationship Number of meetings
Mr. Rajan A. Dalal (Chairman) 01 01
Mr. Yazdi P. Dandiwala 01 01
Ms. Preeti Vyas 01 01
Mr. R. K. Dalmia 01 01
The Company Secretary viz. Mr. Atul K. Kedia has been designated as the Compliance Officer.
During the year ended 31st March, 2023, 8 investor complaints/queries were received and have been resolved. There
were no share transfers pending for registration for more than 15 days as on the said date.
d. Risk Management Committee:

The Board of Directors of the Company has constituted a Risk Management Committee of the Board and the
composition is in line with the provisions of the Listing Regulations. Presently it comprises of three Non-Executive
Independent Directors and one Executive Director. There is no regular Chairman appointed for the Committee, the
members themselves appoint the Chairman for each meeting of the Committee.
During the year, two meetings of the Risk Management Committee were held i.e. on 22nd September, 2022 and
20th March, 2023.

The details of composition as on 31st March, 2023 and attendance of the members at the Risk Management
Committee meetings held during FY2022-23 are as given below:
Name of the members of Risk Management Committee Number of meetings

Mr. Yazdi P. Dandiwala 1
01 01
Mr. J. C. Laddha 2
01 01
1
Mr. Yazdi P. Dandiwala was inducted as a member at the meeting of the Board of Directors held on 26th October,
2022.
2
Mr. J. C. Laddha ceased to be a member w.e.f. 29th September, 2022.
The terms of reference of the Risk Management Committee cover the matters as specified under Part D of Schedule
II of Listing Regulations for Risk Management Committee.
e. Corporate Social Responsibility (CSR) Committee:

The Board of Directors of the Company has constituted a Corporate Social Responsibility (CSR) Committee of the
Board presently comprising of one Non-Executive Promoter Director and two Non-Executive Independent Directors
and one Executive Director.
The CSR committee recommends to the Board, the CSR activities to be undertaken during the year and the amount
to be spent on these activities and monitors its progress.
During the year four meetings of the CSR committee were held i.e. on 22nd April, 2022, 14th October, 2022, 24th January,
2023 and 20th March, 2023.
The details of composition as on 31st March, 2023 and attendance of the members at the CSR Committee meetings
held during FY2022-23 are as given below:
Name of the members of Corporate Social Responsibility Number of meetings

Smt. Rajashree Birla (Chairperson) 04 03
Mr. J. C. Laddha1 01 01
1
Mr. J. C. Laddha ceased to be the member w.e.f. 29th September, 2022.
f. Committee of Independent Directors:

The Board of Directors of the Company has constituted a Committee of Independent Directors of the Board presently
comprising of four Non-Executive Independent Directors viz. Mr. Yazdi P. Dandiwala, Mr. Rajan A. Dalal, Mr. Sohanlal
K. Jain and Ms. Preeti Vyas.
During the year, one meeting of the Committee of Independent Director was held on 20th March, 2023, which was
attended by all the members as aforesaid.
g. Finance Committee:
The Board of Directors of the Company has constituted a Finance Committee of the Board presently comprising of
two Non-Executive Independent Directors and one Executive Director. There is no regular Chairman appointed for the
Committee, the members themselves appoint the chairman for each meeting of the Committee.

During the year, four meetings of the Finance Committee were held i.e. on 22nd April, 2022, 09th August, 2022,
27th January, 2023 and 30th January, 2023.
The details of composition as on 31st March, 2023 and attendance of the members at the Finance Committee
meetings held during the FY2022-23 are as given below:
Name of the members of Finance Committee Number of meetings

Mr. J. C. Laddha 1
02 02
1
Mr. J. C. Laddha ceased to be the member w.e.f. 29 September, 2022.
th
h. Prevention of Insider Trading Regulations Committee:

The Board of Directors of the Company had constituted a Committee of the Board at its meeting held on 20th January,
2022, under the provisions of SEBI (Prevention of Insider Trading) Regulations, 2015 to consider the cases of insider
trading, if any, by the Designated employees.
The Prevention of Insider Trading Regulations Committee consists of two Non-Executive Independent Directors and
one Executive Director. There is no regular Chairman appointed for the Committee, the members themselves appoint
the chairman for each meeting of the Committee.
The details of the members of the Committee as on 31st March, 2023 are as under:
Mr. Yazdi P. Dandiwala
Mr. Rajan A. Dalal
Mr. R. K. Dalmia1
1
Mr. R. K. Dalmia was inducted as the member w.e.f. 26th October, 2022 and Mr. J. C. Laddha who was previously the
member of the Committee ceased to be the member w.e.f. 29th September, 2022.
No meeting of the Committee was held during the year.
IV. REMUNERATION OF DIRECTORS:

Remuneration to Non-Executive Directors is decided by the Board of Directors as authorized by the Articles of Association
of the Company and within the limits set out in Section 197 of the Act. The members of the Company have in their meeting
held on 18th July, 2022, authorised the Board of Directors of the Company to pay commission to Non-Executive Directors
within the limits as set out in Section 197(1) of the Act, for a period of 5 years w.e.f. 01st April, 2022. The Board of Directors
of the Company each year determines the quantum of commission payable to Non-Executive Directors considering the
performance of the Company for the said year.
Considering the increase in responsibilities of the Directors, the Board of Directors in its meeting held on 25th July, 2022,
have approved the revised sitting fees as mentioned hereunder:
Particulars Existing Sitting fees per Revised Sitting fees per meeting
meeting (In `) w.e.f. 25th July, 2022 (In `)
Board 20,000 50,000
Audit committee 10,000 25,000
All other Committees 10,000 15,000

Details of sitting fees and remuneration paid/payable to Directors:

Name of the Directors Remuneration paid/payable for the year 2022-23
(All figures in `)
Sitting fees paida Commission payable Total
I Mr. Kumar Mangalam Birla 1,10,000 32,61,841 33,71,841
Smt. Rajashree Birla 1,90,000 32,61,841 34,51,841
Mr. Yazdi P. Dandiwala 5,40,000 32,61,841 38,01,841
Mr. Rajan A. Dalal 5,00,000 32,61,841 37,61,841
Mr. Sohanlal K. Jain 4,15,000 32,61,841 36,76,841
Ms. Preeti Vyas 2,75,000 32,61,841 35,36,841
Mr. J. C. Laddhad 15,000 4,28,954 4,43,954
II Executive Directors Remunerationb
(i) Mr. R. K. Dalmiac (Whole-time Director till 11th August, 2022 and Managing Director w.e.f. 12th August, 2022)
Salary and allowances 5,03,91,199
Contribution to Provident Fund 10,65,263
Superannuation Fund 13,31,580
Perquisites 3,69,600
Total 5,31,57,642
(ii) Mr. J. C. Laddhad (Managing Director till 11th August, 2022)
Salary and allowances 1,63,75,554
Contribution to Provident Fund 2,94,822
Perquisites -
Total 1,66,70,376
a. Sitting fees for attending meetings of the Board and/or Committee thereof.
b. As the employee-wise break-up of liability on account of Employee Benefits based on actuarial valuation is not
available, the amounts relatable to the Managing Director and Whole-time Director are not considered.
c. Mr. R. K. Dalmia (DIN: 00040951) who was the Whole-time Director of the Company has been appointed as the
Managing Director of the Company w.e.f. 12th August, 2022 and consequently he ceased as a Whole-time Director
from the said date. This was approved by the Board of Directors at its meeting held on 25th July, 2022 and by the
shareholders on 20th October, 2022 through Postal Ballot via remote e-voting.
d. Mr. J. C. Laddha (DIN: 03266469) was appointed as the Managing Director of the Company for a period of 3 years
i.e. 12th August, 2019 to 11th August, 2022. On completion of his tenure, Mr. Laddha ceased as Managing Director
of the Company and continued on the Board as a Non-Executive & Non-Independent Director of the Company till
28th September, 2022 as he resigned from the Board w.e.f. 29th September, 2022.
Notes:
1. None of the Non-Executive Directors have any material financial interest in the Company apart from the remuneration
by way of fees and commission received by them. Certain professional services were rendered to the Company by a
firm in which a Non-Executive Director is a partner. In the opinion and judgment of the Board, this did not affect the
independence of the said Director.
2. There is no severance fee or stock option in the case of the aforesaid managerial personnel. The respective tenure
of the aforesaid managerial personnel shall be governed by the resolutions passed by the Shareholders in General
Meetings with a notice period of three months by either side.
3. Commission to Non-Executive Directors including Independent Directors for financial year 2022-23 will be paid
after the accounts are approved by the shareholders at the ensuing Annual General Meeting scheduled to be held
on 27th July, 2023.
4. Directors’ commission amount is exclusive of applicable Goods and Service Tax (GST) which shall be borne by the
Company.

FOR SHAREHOLDERS’ INFORMATION:
V. GENERAL BODY MEETINGS:
(a) (i) The details of Annual General Meetings held in the last three years are as under:
AGM Day Date Time Venue

123 rd
Tuesday 25 August, 2020 02:30 P.M. Conducted through Video Conferencing from the
th
Registered office of the Company at Century Bhavan,

Dr. Annie Besant Road, Worli, Mumbai 400 030.
124th Friday 16th July, 2021 02:30 P.M. -do-
125 th
Monday 18 July, 2022
th
02:30 P.M. -do-
(ii) The details of Extra-Ordinary General Meeting held in the last three years are as under:
No Extra- Ordinary General Meeting was held in the last three years.
(b) Whether any special resolutions passed in the previous 3 AGMs/EGMs:

Yes, details of which are given hereunder:
AGMs:
Date Matter
25 August, 2020 •
th
Re-appointment of Smt. Rajashree Birla as a Non-Executive Director
16 July, 2021
th
• Approval of remuneration paid to Mr. J. C. Laddha, Managing Director for the year ended
31st March, 2021
• Approval of the remuneration paid to Mr. R. K. Dalmia, Whole-time Director for the year
ended 31st March, 2021.
18th July, 2022 There was no matter that required passing of Special Resolution.
(c) Whether any special resolution passed last year through postal ballot and details of voting pattern?
During the year, the Company has sought the approval of members through postal ballot via remote e-voting for the
following special resolution(s):
Date of Postal Date of Passing Brief particulars of the resolution
Ballot Notice of Postal Ballot*
13th September, 20th October, Appointment of Mr. R. K. Dalmia as the Managing Director of the Company for
2022 2022 a period of three (3) years with effect from 12th August, 2022
31st January, 09th March, 2023 • Approval of the ‘CTIL Employee Stock Option Scheme 2023’ of the
2023 Company.
• Approval of grant of Employee Stock Options to the employees of
Group Company(ies) including Subsidiary Company(ies) or Associate
Company(ies) of the Company under ‘CTIL Employee Stock Option
Scheme 2023’.
• Approval of
(a) secondary acquisition of Shares through Trust route for the
implementation of ‘CTIL Employee Stock Option Scheme 2023’
(b) provision of money by the Company for purchase of its own shares
by the Trust under the Scheme.
* The Voting Results along with Scrutinizer’s Report has been displayed at the Registered Office of the Company and
on the websites of the Company and the Stock Exchanges viz. www.centurytextind.com, www.bseindia.com and
www.nseindia.com.

(d) Person who conducted the postal ballot exercise?

The Company had appointed Mr. Gagan B. Gagrani, Practicing Company Secretary, Membership No. FCS 1772 and
C.P. No. 1388 as the scrutinizer for conducting Postal Ballot through e-voting process in a fair and transparent
manner.
(e) Whether any special resolution is proposed to be conducted through postal ballot?
Special Resolutions to be passed at the ensuing Annual General Meeting of the Company are not proposed to be
put through postal ballot. However, for other special resolutions, if any, in the future, the same will be decided at the
relevant time.
(f) Procedure for postal ballot:

The procedure for postal ballot is as per the provisions contained in this behalf in the Companies Act, 2013 and rules
made thereunder namely The Companies (Management and Administration) Rules, 2014 as amended from time to
time read with circulars issued by Ministry of Corporate Affairs.
VI. MEANS OF COMMUNICATION:
(a) Quarterly results:

(i) Which newspapers normally published in Financial Express, All India editions.
Loksatta, Mumbai edition.
(ii) Any website, where displayed www.centurytextind.com
(iii) Whether it also displays official news Official news releases are displayed on the website. As and
releases and presentations made to when any presentation is made to Institutional investors/
Institutional investors/analysts analysts, the same will be displayed on the website.
(b) Shareholders’ grievances/complaints:
Grievance Redressal division’s E-mail ID for ctil.investorrelations@adityabirla.com
investors
VII. GENERAL SHAREHOLDER INFORMATION:
(a) Annual General Meeting to be held:

Day : Thursday
Date : 27th July, 2023
Time : 02:30 P.M.
Venue : Through Video Conferencing or other Audio-Visual Means
(b) Financial Year : 2023-2024

First Quarterly Results : On or before 14th August, 2023
Second Quarterly Results : On or before 14th November, 2023
Third Quarterly Results : On or before 14th February, 2024
Audited Yearly Results for the : On or before 30th May, 2024
year ending 31st March, 2024
(c) Dates of Book Closure:

Tuesday, 18th July, 2023, to Thursday, 27th July, 2023 (Both days inclusive).
(d) Dividend payment date:

Dividend on Equity Shares will be made payable on or after Tuesday, 01st August, 2023 once approved. In respect of
shares held in physical form, the dividend will be paid to such shareholders whose name appear in the Register of

Members as at 27th July, 2023. In respect of shares held in electronic form, the dividend will be paid on the basis of
beneficial ownership position as per the data to be furnished by National Securities Depository Limited (NSDL) and
Central Depository Services (India) Limited (CDSL) for this purpose.
(f) Stock Exchange related information:
(i) Listing on Stock Exchanges:
Equity Shares Privately-placed Redeemable Non-Convertible Debentures

BSE Limited BSE Limited
Phiroze Jeejeebhoy Towers, Phiroze Jeejeebhoy Towers,
Dalal Street, Mumbai – 400 001. Dalal Street, Mumbai – 400 001.
National Stock Exchange of India Limited
Exchange Plaza, Bandra Kurla Complex,
Bandra (East), Mumbai – 400 051.
(ii) Stock Codes:
1. Equity shares BSE Limited 500040

National Stock Exchange of India Limited CENTURYTEX
2. Non-Convertible Debentures BSE (XVIII Series) 1
959259
(Privately placed) BSE (XIX Series) 973812
BSE (XX Series) 974571
1
have been redeemed on 04th February, 2023, since 04th February, 2023 was not a business day, payment was
made on 03rd February, 2023 as per the Information Memorandum.
Notes:
i) Listing fees will be paid to the Stock Exchanges for the year 2023-24 within the prescribed time i.e. on or
before 30th April, 2023.
ii) Depository connectivity:
National Securities Depository Limited
Central Depository Services (India) Limited
(f) ISIN No. for the Company’s Listed Securities:
Equity Shares in Demat Form INE055A01016

Secured Redeemable Non-Convertible Debentures (privately placed) (XIX Series) INE055A07104
Unsecured Redeemable Non-Convertible Debentures (privately placed) (XX Series) INE055A08029
(g) Market price Data:

The details of monthly highest & lowest closing quotations of the equity shares of the Company during financial year
2022-23 are as under :-
(In ` Per Share)
Month BSE Limited National Stock Exchange of India Limited
High Low High Low
April, 2022 938.55 835.90 938.00 835.80
May, 2022 830.70 694.50 832.65 695.35
June, 2022 886.80 728.40 889.10 730.05
July, 2022 839.40 781.90 839.55 782.50

(In ` Per Share)

Month BSE Limited National Stock Exchange of India Limited
High Low High Low
August, 2022 868.25 834.80 868.35 834.50
September, 2022 936.30 808.40 937.55 809.25
October, 2022 877.05 799.80 877.35 800.10
November, 2022 847.05 770.70 848.85 771.00
December, 2022 810.40 674.20 810.70 673.25
January, 2023 727.15 664.70 727.10 662.80
February, 2023 700.30 606.70 701.00 606.40
March, 2023 675.55 606.85 675.95 607.05
(h) Performance in comparison to broad based indices:
(i) Suspension from trading:

No Security of the Company has been suspended from trading on any of the Stock Exchanges where they are listed.
(j) Registrar and Transfer Agents:

The Company has appointed Link Intime India Private Limited as its Share Transfer Agent for both physical and
demat segments of Equity Shares and Debentures.
Details of the Share Transfer Agent is:
Address:
Link Intime India Private Limited

C-101, 247 Park,
L.B.S. Marg,
Vikhroli (West),
Mumbai- 400 083. Maharashtra
Telephone No.: 8108116767, Fax No. 022 - 4918 6060.

For shareholders queries :

Telephone No. : 8108116767
Email ID : rnt.helpdesk@linkintime.co.in;
bonds.helpdesk@linkintime.co.in
Please quote on all the correspondence: Unit - Century Textiles and Industries Limited.
(k) Share Transfer System:

Share transfers are registered and returned within a period of 15 days from the date of receipt, if the documents
are clear in all respects. Executives of the Company have been authorised to approve transfers in addition to the
Committee.
(l) Distribution of shareholding:

The shareholding distribution of equity shares of face value of ` 10/- each as at 31st March, 2023 is given below:-
Sr. No. of Equity Shares held No. of Folios No. of Shares Percentage of
No. Shareholding
1. 1 to 100 56,229 19,22,268 1.72
2. 101 to 500 13,659 33,24,320 2.98
3. 501 to 1000 2,682 20,38,749 1.83
4. 1001 to 5000 2,450 52,82,495 4.73
5. 5001 to 10000 302 22,14,362 1.98
6. 10001 to 100000 238 58,53,222 5.24
7. 100001 to 500000 51 1,22,01,127 10.92
8. 500001 & above 22 7,88,59,137 70.60
Total 75,633 11,16,95,680 100.00
(m) Shareholding pattern as on 31st March, 2023:
Sr. Category No. of Folios % of Folios No. of % of share

No. shares held holding
1. Promoter and Promoter group 7 0.01 5,60,77,970 50.21
2. Resident Individuals 73,116 96.68 1,87,51,728 16.79
3. Private Corporate Bodies 863 1.14 97,26,672 8.70
4. Nationalised Banks, Govt. Insurance 71 0.09 1,72,04,473 15.40
Companies, Mutual Funds and AIF
5. FIIs & Foreign Portfolio Investors 115 0.15 88,45,685 7.92
(Corporate)
6. NRIs and OCBs 1,461 1.93 10,89,152 0.98
Total 75,633 100.00 11,16,95,680 100.00
(n) 17,807 equity shares of the face value of ` 10/- each for 206 folios in respect of which dividend was not encashed
for seven consecutive years were transmitted to Investor Education and Protection Fund (IEPF) Authority on
24th September, 2022. The above mentioned shares were transmitted pursuant to requirement under Section 124 of
the Companies Act, 2013 read with Rule 6 of Investors Education and Protection Fund Authority (Accounting, Audit,
Transfer and Refund) Rules, 2016 as amended from time to time.
During the year, dividend of ` 30,67,581/- declared by the Company for the financial year ended 31st March, 2015,
which remained unclaimed/unpaid for seven consecutive years was transferred to IEPF on 19th September, 2022.

(o) Dematerialisation of equity shares:

About 98.89% of total equity share capital is held in dematerialised form with NSDL and CDSL.
(p) Hedging of Risk:

Company is not having much exposure to foreign exchange and there is a natural hedging partly available in terms
of exports made by the company. Further, the Company has a Risk Management Policy which addresses the foreign
currency risk. Refer Note no. 43 to the Financial Statements.
The Company has a robust framework in place to protect its interest from risks arising out of market volatility. Based
on market intelligence and continuous monitoring, the procurement team is advised on appropriate strategy to deal
with such market volatility. Except for Foreign currency exposure, the Company does not have any exposure hedged
during the financial year 2022- 23.
(q) List of all credit ratings obtained by the Company for financial facilities:
Long-Term Rating CRISIL AA/Stable (Reaffirmed) 17th January, 2023

Short-Term Rating CRISIL A1+ (Reaffirmed) 17th January, 2023
(r) Plant Locations:

(i) BIRLA CENTURY (iii) CENRAY MINERALS AND CHEMICALS
Plot No. 826, GIDC Industrial Estate, Nawa Nagna, Jamnagar - 361 007, (Gujarat).
Jhagadia - 393 110, Dist. Bharuch (Gujarat).
(ii) CENTURY RAYON* (iv) CENTURY PULP & PAPER
Rayon, Tyre Cord & Chemical Plants, Ghanshyamdham, P.O. Lalkua - 262 402,
Murbad Road, Kalyan - 421 103, (Maharashtra). Dist. Nainital (Uttarakhand).
Other Unit (Real Estate Development)

CENTURY ESTATES
Birla Aurora, Level 8, Dr. Annie Besant Road,
Worli, Mumbai – 400 030.
* With effect from 01st February, 2018 the Company has granted to Grasim Industries Limited (GIL) the right and
responsibility to manage, operate, use and control the viscose filament yarn business of Century Rayon Division of
the Company for 15 years, for a commuted royalty of ` 600 Crores, interest free, refundable, security deposit of ` 200
Crores and Century Rayon’s working capital to GIL at actuals.
(s) Address for correspondence:

Century Bhavan,
Dr. Annie Besant Road,
VIII. OTHER DISCLOSURES:

(i) All related party transactions have been entered into in the ordinary course of business and were placed periodically
before the Audit Committee in summary form including transactions for which omnibus approval of the Audit
Committee was taken. There were no material individual transactions with related parties which were not in the
normal course of business, required to be placed before the Audit Committee and that may have potential conflict
with the interest of the Company at large. All individual transactions with related parties or others were on an arm’s
length basis. Transactions with related parties as per requirements of IND AS 24 - ‘Related Party Disclosures’ are
disclosed in Note 40 to the Financial Statements.

(ii) No penalties or strictures have been imposed on the Company by Stock Exchanges or SEBI or any statutory authority
on any matter related to capital markets during the last three years.
(iii) The Company has established a Vigil mechanism/Whistle blower policy for directors and employees to report
concerns about unethical behaviour, actual or suspected fraud etc. and the same has been disclosed on the website
of the Company. Further in terms to the provisions of Listing Regulations, no personnel has been denied access to
the Chairperson of the Audit Committee.
There was 1 (one) Whistle blower complaint received by the Company which was duly considered and disposed off
by the Audit Committee of the Company.
(iv) Direct wholly owned subsidiary Companies incorporated under the Companies Act, 2013:
a. Birla Estates Private Limited
b. Birla Century Exports Private Limited
(v) Web-links:
Sr. Particulars Web-link

No.
1 Familiarization programme for https://www.centurytextind.com/assets/pdf/others/insidertrading.pdf
Independent Directors
2 Related Party Transaction Policy https://www.centurytextind.com/assets/pdf/others/related_prty_
transaction_policy.pdf
3 Material Subsidiary https://www.centurytextind.com/assets/pdf/corporate-policies/policy-
for-determining-material-subsidiaries.pdf
4 Dividend Distribution Policy https://www.centurytextind.com/assets/pdf/others/dividend-
distribution-policy.pdf
(vi) Details of utilization of funds raised through preferential allotment or qualified institutions placement as specified
under Regulation 32 (7A) of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 - N.A.
(vii) Certificate from Practicing Company Secretary:
The Company has obtained a certificate from Mr. Gagan B. Gagrani, Practicing Company Secretary, Membership
no. FCS 1772 and CP No. 1388, that none of the Directors on the Board of the Company has been debarred or
disqualified from being appointed or continuing as Directors of companies by the Securities and Exchange Board of
India/Ministry of Corporate Affairs or any such statutory authority.
(viii) Recommendation of any Committee of the Board which is mandatorily required:
Any recommendations given by the Committees of the Board are required to be placed before the Board. The Board
has accepted all the recommendations by various committees of the Board during the financial year 31st March,
2023.
(ix) Total fees for all services paid by the listed entity and its subsidiaries, on a consolidated basis, to the Statutory
Auditor and all entities in the network firm/network entity of which the statutory auditor is a part.
Total fees for all services paid by Century Textiles and Industries Limited and its subsidiaries, on a consolidated
basis, to SRBC & Co. LLP and other firms in the network entity of which SRBC & Co. LLP is a part of:
` in Crores
Particulars Amount
Fees for audit and related services paid to SRBC & Co. LLP affiliate firms and to entities of the 1.95
network of which SRBC & Co. LLP is a part of (Including fees for limited review).
Other fees paid to SRBC & Co. LLP and other firms in the network entity of which SRBC & Co. LLP 0.30
is a part of:
Total 2.25
(x) Disclosure in relation of Sexual Harassment of Women at Workplace:
The Company has zero tolerance for sexual harassment at workplace and has adopted a Policy in line with the

provisions of the Sexual Harassment of Women and Remuneration Committee of the Board
at Workplace (Prevention, Prohibition and and approved by the shareholders of the
Redressal) Act, 2013 and the Rules thereunder Company in the Annual General Meeting
for prevention and redressal of complaints of held on 16th July, 2021.
sexual harassment at workplace. The details of Mr. R. K. Dalmia ceased as the Whole-
complaints are as under: time Director of the Company with effect
No. of complaints filed during the financial 2 from 12th August, 2022 consequent to his
year appointment as the Managing Director
of the Company w.e.f. the said date by
No. of complaints disposed off during the 0
the Board on the recommendation of the
financial year
Nomination and Remuneration Committee
No. of complaint pending as on end of the 2*
in their meetings held on 25th July, 2022 and
financial year
approved by shareholders of the Company
*Since disposed off as on the date of this report. on 20th October, 2022 through postal ballot
(xi) All Accounting Standards mandatorily required via remote e-voting.
have been followed without exception in The remuneration paid to Mr. R. K. Dalmia
preparation of the financial statements. as the Whole-time Director of the Company
(xii) Procedures for assessment of risk and its up to 11th August, 2022 and the Managing
minimisation have been laid down by the Director with effect from 12th August, 2022 is
Company and reviewed by the Board. These mentioned in item no. IV of this report.
procedures are periodically reassessed to ensure (xv) (a) Management Discussion and Analysis
that executive management controls risks forms part of the Annual Report to the
through means of a properly defined framework. shareholders and it includes discussion on
(xiii) No money was raised by the Company through matters as required by Regulation 34(3) of
public issue, rights issue etc. in the last financial the Listing Regulations.
year. (b) There were no material financial &
(xiv) (a) All pecuniary relationships or transactions commercial transactions by Senior
of the Non-Executive Directors vis-à-vis the Management as defined in Regulation 26 of
Company have been disclosed in item IV of the Listing Regulations where they have any
this report. personal interest that may have a potential
(b) Mr. J. C. Laddha was the Managing Director conflict with the interests of the Company
on the Board of the Company whose at large requiring disclosure by them to the
appointment and remuneration had been Board of Directors of the Company.
fixed by the Board on the recommendation (xvi) Details of Loans & Advances given by the
of Nomination and Remuneration Company & its subsidiaries in the nature of
Committee of the Board and approved by the loans to firms/Companies in which Directors are
shareholders of the Company in the Annual interested: NIL
General Meeting held on 25th August, 2020. (xvii) Details of Material Subsidiaries of the Company,
Mr. J. C. Laddha ceased as the Managing including date and place of incorporation and
Director of the Company w.e.f. 12th August, name and date of appointment of Statutory
2022 on completion of his tenure of three Auditors of such subsidiaries:
years. The remuneration paid to Mr. J. C. Not applicable since there is no material
Laddha as the Managing Director of the subsidiary of the Company.
Company is mentioned in item no. IV of this
(xviii) CTIL Employee Stock Option Scheme 2023
report.
(‘ESOS 2023’ or ‘Scheme’):
(c) The Company had a Whole-time Director
ESOS 2023 has been approved by the Board of
on the Board of the Company viz. Mr.
Directors at its meeting held on 16th January,
R. K. Dalmia whose appointment and
2023, and by the Shareholders through Postal
remuneration had been fixed by the Board
Ballot via remote e-voting on 09th March, 2023.
on the recommendation of Nomination

The said scheme is being implemented through Audit Committee wherein they report directly to
secondary acquisition of shares by Trust the Committee.
route. For the year ended 31st March, 2023,
the Company has not granted any option to its XI. DISCLOSURE OF COMPLIANCES:
employees, hence the relevant disclosures are The Company has disclosed about the compliance
not applicable. of regulations in respect of Corporate Governance
A certificate from the Secretarial Auditor, with under the Listing Regulations on its website viz.
respect to implementation of ESOS 2023 will be www.centurytextind.com
available electronically for inspection without any
fee by the members from the date of circulation XII. COMPLIANCE CERTIFICATE:
of the Notice of 126th Annual General Meeting Compliance Certificate for Corporate Governance
up to the date of 126th Annual General Meeting. from Auditors of the Company is given as Annexure B
Members seeking to inspect such documents to this report.
can send an e-mail to ctil.secretary@adityabirla.
com. XIII. CEO/CFO CERTIFICATION:
As required under Regulation 17(8) of Listing
IX. NON-COMPLIANCE: Regulations, the Managing Director and CFO have
There is no non-compliance of any of the requirements certified to the Board about compliance by the
of Corporate Governance report as required under the Company with the requirements of the said sub-
Listing Regulations. regulation for the financial year ended 31st March,
2023.
X. DISCRETIONARY REQUIREMENTS:
XIV. RECONCILIATION OF SHARE CAPITAL AUDIT:
1. The Board: As stipulated by the Securities and Exchange Board of
An office for the use of the Chairman is made India (SEBI), a qualified practicing Company Secretary
available whenever required. carries out Reconciliation of Share Capital Audit. This
audit is carried out every quarter and the report thereon
2. Shareholders’ Rights: is submitted to the Stock Exchanges and is also placed
Half yearly financial results including summary before the Board of Directors.
of the significant events in last six months are
presently, not being sent to shareholders of the XV. FILING OF COST AUDIT REPORT:
Company. As per Section 148 of the Companies Act, 2013 read
with Rule 6 of the Companies (Cost Records and Audit)
3. Modified opinion(s) in audit report: Rules, 2014, Cost Auditors have to forward Cost Audit
There are no qualifications in the Auditor’s report Report to the Board of Directors of the Company within
on the financial statements to the Shareholders a period of 180 days from the closure of financial year
of the Company. and the said report is required to be filed within a period
of 30 days from the date of receipt with the Ministry of
4. Separate posts of Chairperson and Chief Corporate Affairs.
Executive Officer: Details of the Cost Audit Reports for the financial year
The Company has a Managing Director in addition 2021-22 filed during the year in compliance of the
to the Non-Executive Chairman of the Board. The aforesaid are tabled below :
Chairman of the Board is Non-Executive Director
Products Name of the Cost Date of Filing
and is not related to the Managing Director as per
Auditors
the definition of the term ‘relative’ defined under
the Companies Act, 2013. Textiles: Birla M/s. R. Nanabhoy 22nd August,
Century and Co. 2022
5. Reporting of Internal Auditor: Paper: Century M/s. R. Nanabhoy 22nd August,
Internal Auditors are invited to the meetings of Pulp and Paper and Co. 2022

XVI. DEBENTURE TRUSTEE DETAILS:

Details about Debenture Trustee for Non-Convertible Debentures issued by the Company as per Regulation 53(e) of
Listing Regulations:-
Name SBICAP Trustee Company Limited Axis Trustee Services Limited

Address Mistry Bhavan, 4 Floor, 122 Dinshaw Vachha
th
The Ruby, 2nd Floor, SW 29, Senapati Bapat
Road, Churchgate, Mumbai – 400020 Marg I, Dadar West, Mumbai – 400028
Telephone No. 022-4302 5500/5566 022-62300451
Fax No. 022-22040465 022-6230 0700
E-mail corporate@sbicaptrustee.com debenturetrustee@axistrustee.in
Investor Grievance investor.cell@sbicaptrustee.com complaints@axistrustee.in
email
Website www.sbicaptrustee.com www.axistrustee.in
Contact person Mr. Sarbasuchi Das-Legal & Compliance Mr. Anil Grover-Operations Head
Tel. No. 022-4302 5503
SEBI Registration No. IND000000536 IND000000494
The above report has been placed before the Board at its meeting held on 24th April, 2023 and the same was approved.
ANNEXURE A
DECLARATION ON COMPLIANCE OF THE COMPANY’S CODE OF CONDUCT
To,
Century Bhavan,
Dr. Annie Besant Road,
Worli, Mumbai – 400 030
The Company has a specific Code of Conduct for the members of the Board of Directors and the Senior Management Personnel
of the Company in terms of Regulation 17(5) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 to
further strengthen corporate governance practices of the Company.
All the members of the Board and Senior Management Personnel of the Company have affirmed due observance of the
said Code of Conduct in so far as it is applicable to them and there is no non-compliance thereof during the year ended
31st March, 2023.
R. K. Dalmia
Place: Mumbai Managing Director
Date: 24th April, 2023 DIN: 00040951

ANNEXURE B
AUDITORS’ CERTIFICATE REGARDING COMPLIANCE OF

CONDITIONS OF CORPORATE GOVERNANCE
Independent Auditor’s Report on compliance with the conditions of Corporate Governance as per provisions of Chapter IV of
Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended
The Members of Century Textiles and Industries Limited
1. The Corporate Governance Report prepared by Century Textiles and Industries Limited (hereinafter the “Company”),
contains details as specified in regulations 17 to 27, clauses (b) to (i) of sub – regulation (2) of regulation 46 and para C,
D, and E of Schedule V of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015, as amended (“the Listing Regulations”) (‘Applicable criteria’) for the year ended March 31, 2023 as
required by the Company for annual submission to the Stock Exchange.
Management’s Responsibility
2. The preparation of the Corporate Governance Report is the responsibility of the Management of the Company including
the preparation and maintenance of all relevant supporting records and documents. This responsibility also includes the
design, implementation and maintenance of internal control relevant to the preparation and presentation of the Corporate
Governance Report.
3. The Management along with the Board of Directors are also responsible for ensuring that the Company complies with the
conditions of Corporate Governance as stipulated in the Listing Regulations, issued by the Securities and Exchange Board
of India.
Auditor’s Responsibility
4. Pursuant to the requirements of the Listing Regulations, our responsibility is to provide a reasonable assurance in the
form of an opinion whether, the Company has complied with the conditions of Corporate Governance as specified in the
Listing Regulations.
5. We conducted our examination of the Corporate Governance Report in accordance with the Guidance Note on Reports
or Certificates for Special Purposes and the Guidance Note on Certification of Corporate Governance, both issued by the
Institute of Chartered Accountants of India (“ICAI”). The Guidance Note on Reports or Certificates for Special Purposes
requires that we comply with the ethical requirements of the Code of Ethics issued by ICAI.
6. We have complied with the relevant applicable requirements of the Standard on Quality Control (SQC) 1, Quality Control
for Firms that Perform Audits and Reviews of Historical Financial Information, and Other Assurance and Related Services
Engagements.
7. The procedures selected depend on the auditor’s judgement, including the assessment of the risks associated in
compliance of the Corporate Governance Report with the applicable criteria. Summary of procedures performed include:
i. Read and understood the information prepared by the Company and included in its Corporate Governance Report;
ii. Obtained and verified that the composition of the Board of Directors with respect to executive and non-executive
directors has been met throughout the reporting period;
iii. Obtained and read the Register of Directors as on March 31, 2023 and verified that atleast one independent woman
director was on the Board of Directors throughout the year;
iv. Obtained and read the minutes of the following Board/committee/General meetings held from April 01, 2022 to
March 31, 2023:
(a) Board of Directors;
(b) Audit Committee;
(c) Annual General Meeting (AGM) / Extra Ordinary General Meeting (EGM);
(d) Nomination and Remuneration Committee;
(e) Stakeholders Relationship Committee;

(f) Committee of Independent Directors;

(g) Risk Management Committee;
(h) Finance Committee;
(i) Corporate Social Responsibility (CSR) Committee
v. Obtained necessary declarations from the directors of the Company;
vi. Obtained and read the policy adopted by the Company for related party transactions;
vii. Obtained the schedule of related party transactions during the year and balances at the year- end. Obtained and read
the minutes of the audit committee meeting where in such related party transactions have been pre-approved prior
by the audit committee;
viii. Performed necessary inquiries with the management and also obtained necessary specific representations from
management.
8. The above-mentioned procedures include examining evidence supporting the particulars in the Corporate Governance
Report on a test basis. Further, our scope of work under this report did not involve us performing audit tests for the purposes
of expressing an opinion on the fairness or accuracy of any of the financial information or the financial statements of the
Company taken as a whole.
Opinion
9. Based on the procedures performed by us, as referred in paragraph 7 above, and according to the information and
explanations given to us, we are of the opinion that the Company has complied with the conditions of Corporate Governance
as specified in the Listing Regulations, as applicable for the year ended March 31, 2023, referred to in paragraph 4 above.
Other matters and Restriction on Use

10. This report is neither an assurance as to the future viability of the Company nor the efficiency or effectiveness with which
the management has conducted the affairs of the Company.
11. This report is addressed to and provided to the members of the Company solely for the purpose of enabling it to comply
with its obligations under the Listing Regulations with reference to compliance with the relevant regulations of Corporate
Governance and should not be used by any other person or for any other purpose. Accordingly, we do not accept or
assume any liability or any duty of care or for any other purpose or to any other party to whom it is shown or into whose
hands it may come without our prior consent in writing. We have no responsibility to update this report for events and
circumstances occurring after the date of this report.
For S R B C & CO LLP

Chartered Accountants
ICAI Firm Registration Number: 324982E/E300003
per Ravi Bansal

Partner
Membership Number: 049365
UDIN: 23049365BGWUAZ2547
Place of Signature: Mumbai
Date: 24th April, 2023

Business Responsibility
& Sustainability Report
Century Textiles and Industries Ltd.
Reporting Period: 1st April, 2022- 31st March, 2023
Section A General Disclosures
Section B Management and Process Disclosures
Section C Principle wise Performance Disclosure
Businesses should conduct and govern themselves with integrity, and in a manner that is Ethical,
Principle 1
Transparent, and Accountable
Principle 2 Businesses should provide goods and services in a manner that is sustainable and safe
Businesses should respect and promote the well-being of all employees, including those in their
Principle 3
value chains
Principle 4 Businesses should respect the interests of and be responsive to all their stakeholders
Principle 5 Businesses should respect and promote human rights
Principle 6 Businesses should respect and make efforts to protect and restore the environment
Businesses, when engaging in influencing public and regulatory policy, should do so in a manner
Principle 7
that is responsible and transparent
Principle 8 Businesses should promote inclusive growth and equitable development
Principle 9 Businesses should engage with and provide value to their consumers in a responsible manner

Business Responsibility & Sustainability Report (BRSR) FY 2022-23
Century Textiles and Industries Ltd. (CTIL) is a dynamic Guided by the Nine Thematic Principles outlined by the
business entity that has evolved from a single-unit National Guidelines on Responsible Business Conduct
textile Company established in 1897 to become a (NGRBC), we wholeheartedly embrace responsible
prominent player in various industries. As part of and sustainable business practices. Integrating these
the esteemed Aditya Birla Group, CTIL has made principles into our operations, we strive to make a
significant contributions to the Cotton textiles, Pulp positive impact on society and the environment. In
and Paper, and Real Estate sectors. alignment with our dedication to the NGRBC principles,
we also embrace the United Nations Sustainable
CTIL’s vision is to manufacture products that meet
Development Goals (UNSDGs). These universally
international standards, driven by customer focus,
adopted goals ensure a delicate balance between
global competitiveness, superior quality, technological
social progress, environmental stewardship, and
advancements, and continuous innovation. The
economic sustainability. Our comprehensive Business
Company is on a mission to deliver exceptional products
Responsibility and Sustainability Report (BRSR)
of outstanding quality, empowering its workforce
address the key principles defined by Regulation 34(2)
through teamwork and ownership, and upholding
(f) of the SEBI (Listing Obligations and Disclosure
efficiency, integrity, and honesty. CTIL’s values revolve
Requirements) Regulations 2015.
around customer satisfaction, superior performance,
environmental and community concerns, the pursuit This report aims to provide transparent insights
of excellence, and providing a safe workplace. into our practices and performance across ESG &
Sustainability. We have made a sincere effort to
CTIL has diversified its operations across multiple include key indicators that reflect our commitment to
industries, showcasing its strengths and reducing sustainability and responsible business practices. We
dependence on a single sector. In the Textile segment, aim to provide our stakeholders, including regulators,
CTIL produces yarn, cotton fabrics, and specialty customers, employees, investors, and the wider
fabrics tailored to market demands. In the Pulp and community, with a comprehensive view of our efforts.
Paper sector, the Company manufactures writing, We have carefully selected these indicators based
printing and specialty paper, tissue paper, packaging on our understanding and Judgement, ensuring that
board, catering to various industries. In the Real Estate they represent our commitment to transparency and
domain, CTIL develops and manages commercial and accountability.
residential properties, encompassing office spaces
Our Business Responsibility and Sustainability
and housing complexes, with a significant presence
Report is a vital tool for communicating our progress
across India.
and achievements in environmental impact, social
With this Business Responsibility and Sustainability responsibility, corporate governance, ethical business
Report, CTIL aims to highlight its commitment to practices, and innovation. It serves as a testament to
responsible business practices and sustainability. our unwavering dedication to sustainable growth and
The report seeks to provide valuable insights into responsible business conduct. Through this report, we
CTIL’s non-financial performance, demonstrating the invite our stakeholders to join us on our transformative
Company’s dedication to environmental, social and journey towards a sustainable and prosperous future.
governance responsibilities.
We warmly embrace SEBI’s Business Responsibility

and Sustainability Reporting (BRSR) framework, which
encompasses comprehensive Environmental, Social,
and Governance (ESG) disclosures. As a testament
to our unwavering dedication to sustainability, we are
delighted to present our inaugural BRSR report. This
report showcases our relentless pursuit of responsible
business conduct throughout every aspect of our
operations, positioning us as an exemplar of best-in-
class sustainability practices and drivers of positive
change within our industry and beyond.

SECTION A GENERAL DISCLOSURES
l. Details of the listed entity
1. Corporate Identity Number (CIN) of the Listed Entity L17120MH1897PLC000163
2. Name of the Listed Entity Century Textiles and Industries Ltd.
3. Year of incorporation 1897
Century Bhavan, Dr. Annie Besant Road, Worli,

4. Registered office address
Mumbai-400 030

5. Corporate address
Mumbai-400 030
6. E-mail ctil.esgcentury@adityabirla.com
7. Telephone 022-24957000
8. Website www.centurytextind.com
9. Financial year for which reporting is being done 1st April, 2022 to 31st March, 2023
10. Name of the Stock Exchange(s) where shares are National Stock Exchange of India Ltd.
listed BSE Ltd.
11. Paid-up Capital ` 111.69 Crores
Contact person: Mr. Yogesh Natu

12. Name and contact details (telephone, email address)
Designation: Head-Sustainability
of the person who may be contacted in case of any
E-mail: ctil.esgcentury@adityabirla.com
queries on the BRSR report
Contact no.: +91-22-24957000
13. Reporting boundary

Disclosures under this report are made on a
Are the disclosures under this report made on a
consolidated basis for Century Textiles Industries Ltd.
standalone basis (i.e., only for the entity) or on a
(CTIL) and its three business segments comprising –
consolidated basis (i.e., for the entity and all the
Pulp and Paper, Textiles, and Real Estate and its wholly
entities which form a part of its consolidated financial
owned subsidiary Birla Estates Private Ltd.
statements, taken together)?

ll. Products/Services
14. Details of business activities (accounting for 90% of the turnover):
Description of the Description of business activity % of total turnover

main activity contributed
Manufacturing Pulp and Paper:

The Company’s Pulp and Paper business is the largest manufacturer of
Paper, Board, Tissue, and Pulp from its plant located in India. It produces
76%
a diverse range of paper products, including writing paper, copier paper,
industrial paper, rayon grade pulp, tissue paper, jumbo roll kitchen tissue
roll, toilet tissue paper roll, and wallpaper.
Manufacturing Textiles:
The Textiles business is one of India’s leading producers of bed and bath
linens, shirting fabrics, suiting fabrics (bottom-weight fabrics), and Finer
20%
Fabrics i.e., dress materials.
It offers a variety of patterns and designs, making it an ideal choice for
domestic as well as international markets.
Construction & The Real Estate business encompasses a wide range of segments,
Development serving diverse societal needs. It starts with the development of mid to
premium range housing options and extends to the ultra-luxury market. In
order to expand its presence, Birla Estate actively explores opportunities
for joint development and strategic partnerships in key cities.
Alongside residential projects, Birla Estate also emphasises commercial 3%
and retail development as part of its strategic approach. This includes the
creation of office spaces, retail outlets, and other commercial properties.
Importantly, leasing income plays a significant role in generating revenue
from these operations, further enhancing the Company’s financial
prospects.
15. Products/Services sold by the entity (accounting for 90% of the entity’s Turnover):
Product/Service NIC Code % of total turnover

contributed
Pulp & Paper:
i) Wood/Bagasse/recycled based paper 17013

1. 76%
ii) Multilayer Packaging Board 17016
Textiles:
i) Fabrics 13121
2. 20%
ii) Made-ups 13131
Real Estate:
i) Leasing Activity (Real estate activities

3. 7010 3%
with own or leased property)

III. Operations
16. Number of locations where plants and/or operations/offices of the entity are situated:
Number of plants 3*
13 Total
Number of offices 10
National
Number of plants Nil
1 Total
Number of offices 1
International
*This does not include plant location of Century Minerals and Chemicals and Century Rayon.
*The information with respect to Century Minerals and Chemicals is minuscule and can be considered as not material for this reporting
period.
*With respect to Century Rayon - the Company has granted to Grasim Industries Ltd. (GIL) the right and responsibility to manage, operate,
use and control the viscose filament yarn business of Century Rayon Division of the Company for 15 years with effect from 1st February,
2018.
17. Markets served by the entity:
a. Number of locations
Locations Number
National (No. of States and Union Territories) 36 (PAN India)
International (No. of Countries) 45
b. What is the contribution of exports as a percentage of the total turnover of the entity?
The contribution of exports as a percentage of the total turnover of CTIL is 9%.
c. A brief on types of customers
CTIL
With a diversified portfolio of businesses operates across various sectors catering to different customer
segments. Its businesses are spread across the Pulp and Paper, Textiles, and Real Estate industries catering to
customers including individuals, households, businesses, and other organisations.

Pulp and Paper:
As a major player in the Pulp and Paper industry, the business caters to a variety of clients,
especially those in the publishing and printing industries. Its prime clients are companies that
produce notebooks and are involved in the printing business, such as publishers.
Business to Business (B2B): Catering to large printing/publishing houses, packaging, pharma,
FMCG, and FMCD industries.
Textiles:
The Company offers tailor-made solutions in the fabrics and home textile sector, serving the
requirements of prominent garment manufacturers, importers, distributors, institutional channels,
and e-commerce customers locally and globally.
Business to Business (B2B): It caters to the B2B market and supplies a diverse range of fabrics
including shirting and bedsheets to various industries such as fashion and apparel.
Business to Customer (B2C): Additionally, premium fabrics are available for retail consumers to
purchase.
Real Estate:
Real Estate’s customer base comprises two segments - residential and commercial. The
residential includes individuals and families looking to purchase homes, while the commercial
includes businesses seeking office or retail spaces on lease.
Business to Business (B2B): Commercial leasing services of premium and well-maintained
commercial assets that meet the diverse needs of its B2B customers.
Business to Customer (B2C): High-quality residential projects that cater to the needs of consumers
who seek comfortable and luxurious living spaces.
IV. Employees
18. Details as of the end of the Financial Year:
a. Employees and workers (including differently abled):
S. Particulars Total
No. Male Female
(A)
No. (B) % (B / A) No. (C) % (C / A)
EMPLOYEES
1. Permanent (D) 1,227 1,149 94 78 6
2. Other than Permanent (E) 78 60 77 18 23
3. Total employees (D + E) 1,305 1,209 93 96 7
WORKERS
4. Permanent (F) 3,083 3,028 98 55 2
5. Other than Permanent (G) 5,915 5,587 96 328 4
6. Total workers (F + G) 8,998 8,615 96 383 4
b. Differently abled Employees and workers

19. Participation/Inclusion/Representation of women
No. and % of females
Total (A) No. (B) % (B/A)
Board of 2
7 29%
Directors
Key Managerial
3 0 0%
Personnel
(KMP)
S. Particulars Total (A) Male Female

No
No. (B) % (B / A) No. (C) % (C / A)
DIFFERENTLY ABLED EMPLOYEES
1. Permanent (D) 0 0 0 0 0
2. Other than Permanent (E) 0 0 0 0 0
3. Total differently-abled employees (D + E) 0 0 0 0 0
DIFFERENTLY ABLED WORKERS
4. Permanent (F) 3 3 100 0 0
5. Other than permanent (G) 4 4 100 0 0
6. Total differently-abled workers (F + G) 7 7 100 0 0
20. Turnover rate for permanent employees and workers

(Disclose trends for the past 3 years)
FY 2022-23 FY 2021-22 FY 2020-21
Male Female Total Male Female Total Male Female Total
Permanent
15.01% 24.32% 15.58% 14.54% 18.48% 14.74% 10.24 % 6.59% 10.09%
Employees
Permanent
2.53% 8.92% 2.65% 6.25% 14.15% 6.39% 7.10% 17.09% 7.27%
Workers

V. Holding, Subsidiary, and Associate Companies (including joint ventures)
21. Names of holding/subsidiary / associate companies / joint ventures
S. Name of the holding/ Indicate whether holding/ % Of shares held Does the entity indicate in
No. subsidiary/associate Subsidiary/ Associate/ by the listed entity column A participate in the
companies / joint Joint Venture Business Responsibility
ventures (A) initiatives of the listed entity?
(Yes/No)
1 Birla Estates Pvt. Ltd. Wholly owned subsidiary 100 Yes,

The Company’s commitment
2 Birla Century Exports Wholly owned subsidiary 100
to Business Responsibility
Pvt. Ltd.
initiatives is an integral part of
3 Birla Advanced Knits Pvt. Joint Venture 50 its corporate philosophy and
Ltd. all of its entities are closely
Avarna Projects LLP A subsidiary of Birla Estates 50 aligned with the parent entity
4 Pvt. Ltd. (*refer to the note and actively participate in
below) the Business Responsibility
initiatives.
Birla Tisya LLP A subsidiary of Birla Estates 40
5 Pvt. Ltd. (*refer to the note
below)
Birla Arnaa LLP A subsidiary of Birla Estates 47

6 Pvt. Ltd. (*refer to the note
below)
Birla Century A subsidiary of Birla Century 100

7
International LLC Exports Pvt. Ltd.
8 Industry House Ltd. Associate 35.28^
*Note- Consolidation of entities in which the Group holds less than a majority of voting rights (de facto control): The Group controls the
decision related to all relevant activities in respect of the operation of these entities and hence has consolidated the LLPs as subsidiaries
as per Ind AS-110 even though the group holds 50% or less voting rights in the LLPs.
^Note- Investments in unquoted investments include investment in Industry House Ltd. (IHL). The Company is holding 35.28% of equity
shares in IHL. As the Company does not have significant influence over Industry House Ltd., the Company has not considered it as an
associate as per Ind AS 28 “Investments in Associates and Joint Ventures” and hence not consolidated. The Company’s share of profit
of Industry House Ltd. is insignificant.
V. CSR Details:
22. (i) Whether CSR is applicable as per section 135 of Companies Act, 201(Yes/No)
Yes, CSR is applicable as per Section 135 of the Companies Act, 2013.
(ii) Turnover:
` 4,719.32 Crores
(iii) Net worth:
` 4,038.95 Crores

VI. Transparency and Disclosures Compliances:
23. Complaints/Grievances on any of the principles (Principles 1 to 9) under the National Guidelines on
Responsible Business Conduct:
Stakeholder Grievance Redressal Mechanism FY 2022-23 FY 2021-22

group from in Place (Yes/No) (Current FY) (Previous FY)
whom (If yes, then provide web-link for
complaint is the grievance redress policy)
received Number of Number of Remarks Number of Number of Remarks
complaints complaints complaints complaints
filed during pending filed during pending
the year resolution the year resolution
at close of at close of
the year the year
Communities Yes,
The respective business units
have established a strong
grievance redressal mechanism
to address concerns raised by
local communities. They organise
No complaints were received during No complaints were received during
regular meetings with community
FY 2022-23 FY 2021-22
groups, provide complaint drop
boxes at factory entrances
and project sites, maintain a
complaint register, and assign
a responsible person to resolve
grievances.
Shareholders/ Yes, to address the concerns

Investors and grievances of shareholders/
investors, CTIL maintains open
lines of communication through
various channels. These include * One
dedicated shareholders/investors Complaint
helplines, a designated email was received
address (ctil.investorrelations@ on 28th
adityabirla.com), and regular March, 2022.
stakeholder meetings. However, the
8 0 - 5 1*
The Company has appointed a same was
dedicated investor relations team resolved
to handle shareholder/investor during the
queries, and complaints, and month of
provide necessary support. This April, 2022
enables stakeholders to directly
communicate their concerns,
queries, or grievances to the
Company’s investor relations
department.


the year the year
Employees Yes, the Company has designated

and workers an Ethics and Vigilance Officer,
responsible for addressing
employee concerns related to
ethics and compliance.
CTIL also encourages employees
to voice their concerns and
suggestions through suggestion/
complaint boxes placed at various
locations within the offices.
Additionally, the Company has
established an ethics helpline
number that any employee
can utilise to report any ethical
FY 2022-23 FY 2021-22
or compliance-related issues
anonymously.
To further support employees,
CTIL has various committees
and an HR department where
employees can seek assistance
for their concerns and serves
as a reliable point of contact for
employees, offering support for
the resolution of their concerns.
These committees are dedicated
to addressing employee
grievances, providing guidance,
and facilitating resolution.


the year the year
Customers Yes, the marketing teams of

the respective business units
play a crucial role in promptly
addressing customer complaints
and feedback.
When customers raise
complaints, the marketing
team takes proactive steps to
FY 2022-23 FY 2021-22
resolve the issues. This may
involve scheduling meetings at
the customer’s site, engaging
in phone call discussions,
or communicating through
messages, depending on the type
of concern.
Value chain Yes, the procurement teams of

partners the respective business units play
a crucial role in addressing any
concerns raised by value chain
partners.
When complaints or issues are
brought to the attention of the No complaints were received during No complaints were received during
procurement team, they take FY 2022-23 FY 2021-22
proactive steps to address them.
This may involve scheduling
meetings, engaging in phone call
discussions, or communicating
through messages, depending
on the nature and severity of the
concern.

24. Overview of the entity’s material responsible business conduct issues

Please indicate material responsible business conduct and sustainability issues pertaining to environmental and
social matters that present a risk or an opportunity to your business, rationale for identifying the same, and approach
to adapt or mitigate the risk along with its financial implications, as per the following format
The materiality assessment of CTIL focuses on identifying and prioritising the most important sustainability and
business conduct issues for the Company’s three business verticals. This assessment is based on thorough research,
operational insights, and stakeholder engagement to ensure that all stakeholder groups are represented. CTIL has
analysed major Environmental, Social, and Governance (ESG) standards and frameworks, and stakeholders were asked
to rate and select topics based on their understanding of the Company’s operations.
The identified issues were then weighted based on their importance in the discussions and are listed in the table
below along with the corresponding risks and opportunities, the approach to risk mitigation, and the potential financial
implications on the business.
This comprehensive overview of the Company’s material sustainability and business conduct issues serves as a guide
for CTIL to maximise value for the Company and all its stakeholders while taking into account the unique sustainability
risks and opportunities of each of its three business verticals. By focusing on these material issues, CTIL aims to drive
sustainable growth and create a positive impact on society and the environment, while also enhancing its long-term
business prospects in Pulp and Paper, Textiles, and Real Estate.
To ensure CTIL’s sustainability priorities remain up to date, a deliberate decision was made to revisit the material topics
identified last year. This involved engaging in discussions with CTIL’s leadership team to understand any updates or
changes in the business landscape and operational context. Additionally, extensive research was conducted, including
analysing peer assessments and examining trends and topics provided by ESG indices and frameworks. This meticulous
approach ensured that CTIL’s materiality assessment was thorough and aligned with the most current sustainability
priorities and challenges. After careful evaluation, it was determined that there were no significant changes in the
business landscape or CTIL’s operations that required a revision of the material topics. This reaffirms CTIL’s unwavering
commitment to addressing ongoing sustainability challenges and capitalising on opportunities previously identified
and prioritised, demonstrating a consistent and focused approach towards sustainable business practices.
S. Material issue Indicate Rationale for identifying the In case of risk, approach to Financial implications
No. identified whether risk/opportunity adapt or mitigate of the risk or
risk or opportunity (Indicate
opportunity positive or negative
(R/O) implications)
1 Decarbonisation Opportunity Decarbonisation offers - Positive Implication:

CTIL an opportunity to Implementing
gain a competitive edge by measures to reduce
reducing carbon emissions carbon emissions and
and improving environmental improve environmental
performance. performance can
Considering the energy- lead to cost savings,
intensive operations across create new market
CTIL’s three business opportunities,
verticals adopting energy- and enhance the
efficient practices as part Company’s reputation
of decarbonisation can and brand value
reduce operational expenses, resulting in better
decrease reliance on fossil valuation.
fuels, and mitigate risks Negative Implication:
associated with volatile Failure to address
energy prices. Furthermore, decarbonisation risks
decarbonisation enhances may result in regulatory
market positioning and penalties, decreased
attracts investors, providing demand, and
additional benefits to the reputational damage,
Company. which can all lead to
financial losses.

(R/O) implications)
2 Climate change Risk Climate change adaptation CTIL conducts Negative Implications:
adaptation poses several risks for CTIL’s comprehensive risk Costly Investments:
three business verticals. assessments to identify Adapting to changing
Firstly, climate change can and evaluate climate- climate conditions
result in extreme weather related risks. The Company may require significant
events such as floods, is committed to reducing investments in new
droughts, and storms, greenhouse gas emissions infrastructure or
which can damage CTIL’s and improving energy equipment.
properties and disrupt efficiency by increasing the
Direct Costs
its operations. This can use of renewable energy
implications: Property
lead to additional repair sources and implementing
damage, disruptions
and maintenance costs, energy efficient technology.
in the supply chain,
production downtime, and CTIL further prioritises or higher insurance
potential loss of revenue. climate change adaptation premiums are potential
Secondly, climate change can by addressing risks specific indirect costs that can
impact the availability and to each business segment. arise from climate
cost of raw materials and change impacts.
resources required for CTIL’s These costs can
operations, such as water negatively impact
and fibre. CTIL’s profitability
Thirdly, climate change can and potentially reduce
also affect the demand for shareholder value.
CTIL’s products and services.
As consumer preferences
shift towards sustainable
and eco-friendly products,
CTIL may face a decline in
demand for its conventional
products, or a need to invest
in new sustainable product
lines.
Additionally, if CTIL does
not address climate change
with a proper strategy, the
Company may encounter
difficulties in securing
essential capital from
financial institutions that
prioritise responsible
investment. This could
pose challenges for CTIL’s
operations, investments in
sustainable infrastructure,
and climate adaptation
initiatives.

(R/O) implications)
3 Occupational Risk Occupational health and CTIL has a robust mitigation Positive Implications:
health and safety risks for CTIL’s plan in place to address A safe workplace can
safety business verticals can have occupational health and assist the business
significant financial and safety risks across all its minimise accidents
reputational implications. The business verticals. and illnesses, which
operations require employees CTIL also has a well-defined in turn leads to fewer
and workers to interact training and awareness claims, lower insurance
with plant machinery and Programmes for its costs, and improved
material handling that may employees to promote productivity. This will
lead to accidents, injuries, a culture of safety. The keep the work force
and fatalities, resulting in Company provides regular happy and satisfied,
legal liabilities, compensation
training to its employees may reduce employee
claims, fines, productivity on occupational health turnover rate, which in
loss, increased insurance and safety practices and turn can help in cost
premiums, and damage to procedures, including the savings and increased
the Company’s image. proper use of personal profitability for CTIL.
Poor health and safety protective equipment (PPE) Negative Implications:
practices can contribute to and emergency response The negative financial
employee dissatisfaction, low protocols. implications of
morale, reduced productivity, Additionally, it also has occupational health
and high staff turnover. an Occupational Health and safety risks for
Such turnover can lead to and Safety Management CTIL include potential
increased recruitment and Systems (ISO 45001:2018) legal liabilities, higher
training costs, creating a which takes a proactive insurance premiums,
financial burden for the approach to identify, evaluate worker compensation
Company. and remediate risks before claims, and lost
Ensuring employee health they cause accidents and productivity due to
and safety is essential to injuries. injuries or illnesses.
mitigate these risks and These costs can be
Hazard Identification and
maintain a positive work significant and may
Risk Assessment (HIRA)
environment. affect the Company’s
is implemented to ensure
profitability and
safety while working at the
reputation.
Company’s facilities.

(R/O) implications)
4 Water resilience Risk and Risk Perspective: CTIL has taken several Negative implications:
Opportunity The Textiles and Pulp and measures to mitigate the Increased costs
Paper industries, being risk associated with water due to disruption of
highly water-intensive, are resilience. operations, potential
especially vulnerable to The Company closely regulatory penalties,
these water-related risks and monitors its water and reputational
compliance related risks. consumption and damage. These costs
In the Real Estate vertical, wastewater discharge. can be significant
water resilience can also lead It regularly reports water and can impact the
to property damage from usage and quality metrics Company’s profitability
flooding and inadequate to regulatory bodies, which and long-term growth.
water supply, increasing helps in complying with Positive implications:
the likelihood of costly environmental regulations. Reduced operational
repairs, property devaluation,
Pulp & Paper has initiated 49 costs due to more
and potential insurance
water conservation schemes. efficient use of water
complications.
Textiles have implemented resources, improved
Opportunity Perspective: Zero Liquid Discharge(ZLD) overall business
Water resilience can provide across its operations, and sustainability.
CTIL with a competitive the water treated is used for
advantage in multiple non-potable purposes. The
ways. By implementing Real Estate business has
effective water management installed a 100 Kilo Litre per
practices, the Company day (KLD) Sewage Treatment
can reduce its exposure to Plant (STP) through which
water-related risks. This treated water is used for dust
can help the Company to suppression.
achieve more efficient use Through these measures,
of water resources, reducing CTIL is actively working
operational costs and towards reducing its
enhancing overall business exposure to water-related
sustainability. risks and improving its water
Moreover, CTIL can leverage resilience.
its water resilience initiatives
to differentiate itself in
the market and attract
customers who prioritise
sustainability. This can help
the Company build a strong
reputation as a responsible
and sustainable business,
leading to increased
customer loyalty, support
from local community
and enhanced brand
value and attract socially
conscious retail investors
and institutional investors
who prioritise responsible
investment.

(R/O) implications)
5 Waste Risk and Risk Perspective: CTIL has implemented Positive Implications:
management Opportunity Improper handling and several measures to mitigate Effective waste
disposal of waste can result waste across all business management can
in environmental pollution, segments. lead to cost savings
which can lead to regulatory Extended producer by reducing waste
fines and damage to the responsibility (EPR) disposal fees,
Company’s reputation. categories 1 and 2 apply and lowering the need for
In addition, waste the Company safely disposes raw materials, and
management can be costly, all packaging plastic that is increasing efficiency.
especially if the Company reclaimed. Negative Implications:
has to implement new At Pulp and Paper, wastes Poor waste
systems and technologies such as Effluent Treatment management practices
to meet environmental Plants (ETP) sludge, De- can lead to increased
regulations. ink Plant (DIP) sludge and costs, fines, and legal
Opportunity Perspective: Flyash is given to the cement penalties.
industry to be used as raw
Effective waste management
material.
practices can create
opportunities for CTIL to The Textiles Business
improve its operational recycles textile waste, metal,
efficiency, reduce costs, and cardboard, and paper.
demonstrate its commitment At the Real Estate Business,
to sustainability. construction wastes
Proper waste management and debris are used for
is also important for the temporary road construction.
Company to comply with Other wastes are sold to
environmental regulations authorised waste collection
and maintain positive agencies and recyclers for
relationships with local appropriate disposal.
communities. With respect to our liquid
waste in Textiles vertical, we
have anaerobic treatment
plant, RO plant and ZLD at
our site.
In our Plup and Paper vertical
we have ETP which treats
the effluent generated and
we have increased the use
of recycled water in our
manufacturing unit.

(R/O) implications)
6 Empowering Opportunity By engaging with local Positive Implication:

communities communities, CTIL can build Working towards
strong relationships and empowering the
enhance its social capital. communities in which
it operates, can help
CTIL can benefit from the the Company to build
knowledge and skills of local stronger relationships
communities, which can help with customers
the Company to develop new and employees by
products and services that demonstrating a
are tailored to the needs of commitment to
the local market. social responsibility
and community
engagement.
Developing valuable
partnerships and
collaborations with
local organisations and
businesses, leading
to new business
opportunities.
7 Biodiversity Risk The Textile and Pulp and CTIL works with community Positive implication:
management Paper business relies on members and conservation CTIL can leverage the
natural resources, such as experts to include different use of sustainable
cotton, other fibers, wood and points of view and collate and eco-friendly
other plant-based materials. support for projects related to materials that align
Any changes in the availability conservation of biodiversity. with biodiversity
or quality of these resources CTIL ensured that its projects conservation goals,
due to the loss of biodiversity are not only environmentally such as utilising organic
can have a significant impact sustainable but also socially cotton inputs and forest
on CTIL’s operations and acceptable. stewardship council
supply chain. For example, (FSC). This strategic
the loss of pollinators like approach can create a
bees can reduce cotton yields competitive advantage
and increase costs for the in the market, attract
Company. customers who
Similarly in the Real Estate prioritise sustainable
Business, if a development products, and lead to
project causes damage to increased sales and
protected species or habitats, long-term profitability
the Company may face for CTIL.
legal action, which can be Negative implication:
costly and damaging to its Biodiversity loss and
reputation. habitat destruction
resulting from CTIL’s
operations could have
detrimental effects
on the Company.
This includes the
potential for regulatory
fines, reputational
damage, and increased
costs associated
with mitigating
environmental impacts
and potential monetary
penalties.

(R/O) implications)
8 Supply chain Risk and Risk Perspective: CTIL has established Positive implication:
management Opportunity Supply chain management Standard Operating An efficient supply
presents various risks for Procedures (SOPs) to chain management
CTIL’s operations, such as guide its interactions with increases productivity,
disruptions in raw material stakeholders involved in the lowers costs, improves
supply, delivery delays, supply chain. These SOPs customer satisfaction,
quality issues, supplier help to identify potential risks and boosts brand
practices etc. and ensure that all suppliers value, all of which
meet the required quality eventually translate
Disruptions can lead to
standards and sessions of to more revenue and
production and delivery
training in line with CTIL’s profitability
delays, resulting in lost sales
policies and standards for The SOPs ensure
and revenue.
sourcing and manufacturing. sustainable practices
Quality issues can lead
Additionally, CTIL diversifies as well as fair and
to recalls or rejections,
the supplier base, maintains transparent pricing
impacting costs and
strong relationship with and terms to build a
reputation.
suppliers & implements strong reputation and
Unethical or illegal supplier contingency plans to trust with the business
practices can also harm mitigate risks pertaining to associates, resulting in
CTIL’s reputation. supply chain management. long-term success.
Opportunity Perspective: CTIL also aligns its policies Negative implications:
Effective supply chain with regulatory requirements, Ineffective supply chain
management offers CTIL industry standards, and management can result
opportunities for cost ethical practices to mitigate in greater expenditures
savings, improved efficiency, risks associated with supply due to increased
and increased customer chain management. transportation and
satisfaction. Strong supplier storage requirements,
relationships enable better lost revenues from
pricing negotiations and delayed deliveries and
cost reduction. Improved disgruntled consumers
communication and and harming the
collaboration enhance reputation of its brand.
process efficiency and
delivery coordination,
reducing lead times and
improving on-time delivery.
Adherence to ethical and
environmental standards
improves CTIL’s reputation
among customers seeking
sustainable and responsible
businesses.

(R/O) implications)
9 Talent Risk and Risk Perspective: CTIL recognises that Positive Implications:
management Opportunity As CTIL is into diverse attracting and retaining Effective talent
businesses, there are risks talented employees is management results in
of decreased production and crucial for the success increased productivity,
higher turnover costs when and sustainability of the better employee
there is a failure to recruit business. retention, and
and retain talents. The Company consistently innovation, leading to
Opportunity Perspective: provides on job & physical long-term profitability
Continuous learning training Programmes to and business success.
Programmes and equal upskill its employees & This could lead to
opportunities for growth workers. improved financial
and development can help performance, higher
In addition to providing
employees stay engaged return on investment
learning and development
and motivated in their roles. (ROI), and better
opportunities through our
Additionally, providing shareholder value.
virtual campus, ‘Gyanoday’,
opportunities for skill we also prioritise a positive Negative implication:
development helps the and supportive work culture. Ineffective talent
Company meet the changing Based on the changing needs management can lead
demands of customers. of the market and projects, to negative financial
Talent management at CTIL including considering the implications, such as
helps attract and retain experience of the employees, increased turnover
skilled workers, which is the Company also imparts costs, decreased
particularly important in trainings on specific productivity, and loss of
an industry that is highly requirements through institutional knowledge.
competitive and requires a external trainers.
skilled workforce. We encourage open
communication and
feedback, recognise and
reward high performers,
and provide competitive
compensation and benefits
packages.
Additionally, we regularly
assess employee
engagement and satisfaction
to identify areas for
improvement. By prioritising
the well-being and growth
of our employees, we aim
to ensure their continued
commitment to the Company
and its long-term success.

(R/O) implications)
10 Customer Risk and Risk Perspective: CTIL recognises the Negative Implications:
experience Opportunity Inconsistent customer importance of addressing Poor customer
service across different customer concerns in a experience can result
business verticals can timely manner to prevent any in negative impacts
create dissatisfaction and a negative impact on customer on CTIL’s financial
potential loss of business. satisfaction and retention. performance, as
The Company continuously dissatisfied customers
Opportunity Perspective:
engages with its customers may decide to
Providing excellent customer
through various channels discontinue their
experience can lead to
to understand their needs, business with CTIL.
increased customer loyalty,
preferences and obtain
which can attract new Positive Implications:
feedback.
customers and improve the Increased customer
Company’s reputation and CTIL also ensures prompt loyalty and repeat
build a strong brand image. resolution of their concerns business, can lead to
and feedback and takes higher revenue and
necessary actions to improve profits. A positive
customer experience. customer experience
can also result in
positive marketing
and brand reputation,
which can attract
new customers and
increase market share.
11 Human rights Risk and Risk Perspective: CTIL’s diversity and inclusion Positive implication:
(Diversity and Opportunity Failure to promote diversity initiatives are guided by A diverse workforce can
Inclusion) and inclusion could lead various policies and practices mitigate operational
to negative impacts on the such as the Nomination risks and enable further
Company’s reputation, as and Remuneration Policy, service development.
well as there are potential and Prevention of Sexual It can also help the
legal and regulatory risks Harassment (POSH) Policy. Company to better
related to any discrimination The Company does not understand and serve a
or harassment. discriminate based on diverse customer base,
Opportunity perspective: caste, creed, gender, leading to increased
Promoting diversity and religion, or disability. Equal customer satisfaction
inclusion can lead to a more opportunities are provided to and loyalty. This, in
engaged and productive all employees. turn, can lead to higher
workforce, and a better revenues and improve
understanding of diverse financial performance.
customer needs and Negative Implication:
preferences. It can also Reputational and legal
enhance the Company’s risks, which can lead
reputation and brand, attract to a loss of customers,
a wider pool of talent, and investors, and
increase the potential for employees.
innovation and creativity. In addition, a lack
of diversity and
inclusion can lead
to a homogeneous
workforce that is less
adaptable to changing
market conditions,
which can impact
the organisation’s
long-term financial
performance.

SECTION B MANAGEMENT AND PROCESS DISCLOSURES
This section is aimed at helping businesses demonstrate the structures, policies, and processes put in place towards
adopting the NGRBC Principles and Core Elements.
Disclosure Questions P1 P2 P3 P4 P5 P6 P7 P8 P9
Policy and management processes
1 a. Whether your entity’s policy/

policies cover each principle and
Yes
its core elements of the NGRBCs.
(Yes/No)
b. Has the policy been approved by

Yes
the Board? (Yes/No)
CTIL has a policy ecosystem that consists of both Company-level

policies applicable to all business verticals and vertical-specific
policies addressing their unique requirements. While some policies
cover similar subject matters, others are specific to the operations
of each business vertical.
CTIL recognises the need for consistency in its policy ecosystem
c. Web Link of the Policies, if and is currently in the process of further reviewing and refining
available them. The aim is to ensure greater alignment and coherence across
all business verticals while retaining certain additional policies that
are crucial only for specific verticals. Currently, the web-links to all
the policies are not available. However, CTIL is actively working
towards making these policies accessible to stakeholders.
Web-link of the policies:
https://www.centurytextind.com/investors.html#investorTab4
2. Whether the entity has translated the

Yes
policy into procedures. (Yes / No)
Yes, the Company extends its policies to its value chain partners.
3. Do the enlisted policies extend to your In its contracts with vendors and partners, the Company includes
value chain partners? (Yes/No) a clause that requires them to comply with all relevant laws,
regulations, and Company policies.
4. Name of the national and international codes/certifications/labels/standards (e.g., Forest Stewardship Council,
Fairtrade, Rainforest Alliance, Trustee) standards (e.g., SA 8000, OHSAS, ISO, BIS) mapped to each principle.
• Provisions of SEBI (Listing Obligation and Disclosure Requirements,

Regulation (2015)
• Quality Management System (ISO 9001:2015)
P1 - Ethics and Transparency
• Fair Trade Certification (USA and Germany)
• SMETA (Sedex Members Ethical Trade Audit Report)
• Information Security Management Systems (ISO 27001:2013)

• Environmental Management System (14001:2015)

P2 - Product and service • Zero Discharge of Hazardous Chemicals (ZDHC)
responsibility • Quality Management System (ISO 9001:2015)
• Occupational Health and Safety Management Systems
(ISO 45001:2018)
• NABL certification (R&D) (17025:2017)
• Energy Management System (50001:2018)
• OEKO-TEX® Made in Green (MIG)
• OEKO-TEX® Standard 100
• Sustainable Textile Production (STeP)
• Supima Certification
• LEED (Leadership in Energy and Environmental Design)
• Indian Green Building Certification
• Global Organic Textile Standards (GOTS)
• Organic Contents Standard (OCS)
• Global Recycled Standard (GRS)
• Recycled Claim Standard (RCS)
• Occupational Health and Safety Management System

(45001:2018)
P3 - Human resources
• The International Integrated Reporting Council (IIRC)- <IR>
Framework
• CSR disclosures under Section 135 of the Companies

Act, 2013, read with the Companies (Corporate Social
P4 - Responsive to stakeholders, Responsibility Policy) Rules, 2014, as amended
particularly the marginalised • Social Accountability (SA8000:2014)
• Higg Index- Facility Social & Labor Module (Higg FSLM)
• Social Accountability (SA8000:2014)

P5 - Respect for human rights • Fair Trade Certification (USA and Germany)
• Higg Index- Facility Social & Labor Module (Higg FSLM)
• Higg Index- Facility Environmental Module (Higg FEM)

• Environmental Management System (14001:2015)
P6 - Environmental responsibility • Zero Discharge of Hazardous Chemicals (ZDHC)
• Occupational Health and Safety Management System
(45001:2018)
• Energy Management System (50001:2018)
• OEKO-TEX® Standard 100
• Sustainable Textile Production (STeP)
• OEKO-TEX® Made in Green (MIG)
• LEED (Leadership in Energy and Environmental Design)
• Indian Green Building Certification
• Global Organic Textile Standards (GOTS)
• Organic Contents Standard (OCS)
• Global Recycled Standard (GRS)
• Recycled Claim Standard (RCS)

P7 - Public policy advocacy Framework
• United Nations Sustainable Development Goals (SDGs)

• CSR disclosures under Section 135 of the Companies

Act, 2013, read with the Companies (Corporate Social
P8 - Inclusive growth Responsibility Policy) Rules, 2014, as amended
Framework
• Quality Management System (ISO 9001:2015)

P9 - Customer engagement • Information Security Management Systems (ISO
27001:2013)
5. Specific commitments, goals, and targets set by the entity with defined timelines, if any.
Environmental
• To reduce Greenhouse Gas Emissions and improve energy efficiency in operations across all business
segments.
• To achieve zero waste to landfill and implement measures to reuse waste across all business segments in due
course of time
• Making water stewardship a core value at all the business segments and making all business operations water
efficient
Social
• To achieve an improve diversity ratio across all business segments.
• To maintain a constant improvement in the number of beneficiaries of CSR activities
• To aim for zero harm
• Implementing value chain partners assessments on human rights issues across all business segments
• Enhance the engagement with value chain partners for responsible procurement
Governance
• Development and implementation of relevant ESG policies
(Based on topics identified in materiality assessment)
• Setting coherence in the policy framework of different business segments of the Company
Environmental Performance:
• Total Emissions Reduced: 50,611 MTCO2e compared to FY 2021-22.
Percentage reductions in emissions compared to FY 2021-22: 5.3%
• Emissions intensity (MTCO2e/ ` 1 lakhs) for current year: 1.92, improvement
over past year (2.36 in FY 2021-22)
• Water consumption was reduced by 1,292,063 kl compared to FY 2021-22.
Percentage reduction in water consumption: 6.3% compared to FY 2021-22.
Governance Performance Social Performance

• Zero Data & Privacy • 66,000 + CSR
Breaches In beneficiaries
FY 202-23 • 100% of employees
6. Performance of the entity against
• Zero complaints the specific commitments, goals, and workers were
received pertaining to and targets along with reasons in given performance
discrimination, child case the same are not met. reviews
labour, forced labour, • 81% of employees
and wages. received skill
upgradation trainings

Governance, leadership, and oversight
7. Statement by director responsible for the

business responsibility report, highlighting Refer to ‘Message from Managing Director
ESG related challenges, targets, and (MD)’ on page number 16 and 17 in the
achievements (listed entity has flexibility Integrated report
regarding the placement of this disclosure)
Mr. R.K. Dalmia, (Managing Director, CTIL)

8. Details of the highest authority responsible is the highest authority responsible for
for implementation and oversight of the implementation and oversight of the Business
Business Responsibility policy/policies Responsibility policies related to Environment,
Society, and Governance.
Yes,
The ‘Risk Management Committee’ holds
responsibility for making decisions on
sustainability-related issues within the
Company. The committee convenes every
six months to ensure consistent attention
9. oes the entity have a specified Committee
D to sustainability matters. The committee
of the Board/ Director responsible for comprises the following members:
decision making on sustainability related
- Mr. Yazdi P. Dandiwala – Independent
issues? (Yes / No). If yes, provide details.
Director
- Mr. Rajan A. Dalal – Independent Director
- Mr. Sohanlal K. Jain – Independent
Director
- Mr. Rajendra Kumar Dalmia – Managing
Director
10. Details of Review of NGRBCs by the Company:
Subject for Review Indicate whether review was undertaken by Director /

Committee of the Board/ Any other Committee
Performance against the above policies follow-up action P1 P2 P3 P4 P5 P6 P7 P8 P9

and frequency of review for performance against above
Yes.
policies and follow up actions.
Frequency (Annually/ Half yearly/ Quarterly/ Any other –
please specify)
The performance against the policies is reviewed annually
Compliance with statutory requirements of relevance to Indicate whether review was undertaken by Director /
the principles, and rectification of any non-compliances Committee of the Board/ Any other Committee
and frequency of review
Yes
Frequency (Annually/ Half yearly/ Quarterly/ Any other –
please specify)
The review of Compliance with statutory requirements
relevant to the NGRBC principles is conducted on an
annual basis

11. Has the entity carried out independent assessment/ P1 P2 P3 P4 P5 P6 P7 P8 P9

evaluation of the working of its policies by an
external agency? No
12. If answer to question (1) above is “No” i.e., not all Principles are covered by a policy, reasons to be stated:
Questions P1 P2 P3 P4 P5 P6 P7 P8 P9
The entity does not consider the

principles material to its business
(Yes/No)
The entity is not at a stage where it is

able to formulate and implement the
policies on specified principles (Yes/No)
Not applicable, since all the principles are covered by the respective policies
The entity does not have the financial
or/human and technical resources
available for the task (Yes/No)
It is planned to be done in the next

financial year (Yes/No)
Any other reason (please specify)

SECTION C PRINCIPLE WISE PERFORMANCE DISCLOSURE
Principle 1
Businesses should conduct and govern themselves with integrity, and in a

manner that is Ethical, Transparent, and Accountable
At Century Textiles Industries Ltd. (CTIL), we firmly believe in conducting our business with unwavering integrity,
guided by the principle of ethical, transparent, and accountable practices. We recognise the importance
of upholding high ethical standards in all our operations, ensuring transparency in our actions, and being
accountable for our decisions. By adhering to these principles, we strive to build trust with our stakeholders,
foster a culture of integrity, and contribute to sustainable and responsible growth.

ESSENTIAL INDICATORS
1. ercentage coverage by training and awareness Programmes on any of the principles during the financial
P
year:
Segment Total number Topics / principles covered under the training and its % Of persons
of training and impact in respective
awareness category covered
Programmes by the awareness
held Programmes
Board of Training and Every person who is to be inducted on the Board of the 100
Directors awareness Company is familiarised with the businesses and operations
Programmes are of the Company so as to acquaint them with organisational
conducted on a set-up, functioning of various departments, internal control
continuous basis processes. Also, to provide better perspective of the
as per the need operations, Directors are encouraged to visit Company’s
manufacturing plants.
Key 1 Training regarding Prevention of Sexual Harassment (P5) 100

Managerial Training workshops were held to create awareness about the
Personnel Compliances under Insider Trading Code of the Company
framed pursuant to SEBI (Prohibition of Insider Trading)
Regulations, 2015 so as to avoid any instance of Insider
Trading by the KMPs/ Designated Employees.
Employees 198 Training conducted regarding the following topics and 100
other than principles:
BoD and • Health and Safety (P3)
KMPs • Prevention of Sexual Harassment (P5)
• Skill Upgradation (P3)
• Ethical Standards (Code of Conduct) (P1)
• Other Technical and Non-Technical Skills (P3)
• Training workshops were held to create awareness
Workers 858 about the Compliances under Insider Trading Code of the 100
Company framed pursuant to SEBI (Prohibition of Insider
Trading) Regulations, 2015 so as to avoid any instance of
Insider Trading by the Designated Employees i.e. Employees
who are likely to be in possession of Unpublished Price
Sensitive Information.
Trainings conducted for employees and workers resulted in
the overall personal and professional development of our
employees and workers, which in turn creates a positive work
environment at CTIL.

2. Details of fines/penalties/punishment/ award/ compounding fees/ settlement amount paid in proceedings (by the
entity or by directors / KMPs) with regulators/ law enforcement agencies/judicial institutions, in the financial year, in
the following format (Note: the entity shall make disclosures based on materiality as specified in Regulation 30 of SEBI
(Listing Obligations and Disclosure Obligations) Regulations, 2015 and as disclosed on the entity’s website):
Monetary
NGRBC Name of the regulatory/ Amount (In `) Brief of the Has an

Principle Enforcement agencies/ Case appeal been
judicial institutions preferred?
(Yes/No)
Penalty/ Fine - NIL NIL NA NA
Settlement - NIL NIL NA NA
Compounding fee - NIL NIL NA NA
Non-Monetary
NGRBC Name of the regulatory/ Brief of the Has an appeal been

Principle enforcement agencies/ Case preferred? (Yes/No)
judicial institutions
Imprisonment - NIL NA NA
Punishment - NIL NA NA
3. Of the instances disclosed in Question 2 above, details of the Appeal/ Revision preferred in cases where monetary or
non-monetary action has been appealed.
Case Details Name of the regulatory/ enforcement agencies/ judicial institutions
NA
4. Does the entity have an anti-corruption or anti-bribery policy? If yes, provide details in brief and if available,
provide a web-link to the policy.
Yes, CTIL has a robust anti-corruption and anti-bribery policy in place to ensure ethical business practices and
maintain the highest standards of integrity. The policy outlines clear guidelines and expectations for employees
and senior management regarding anti-corruption measures and prohibits any form of bribery or corrupt activities.
CTIL’s anti-corruption and anti-bribery policy is enshrined in its comprehensive code of conduct, which serves as
a guiding document for all employees of all business verticals. The code of conduct emphasises the Company’s
commitment to conducting business with honesty, transparency, and accountability.
To access CTIL’s code of conduct and gain detailed insights into the anti-corruption and anti-bribery policy, please
visit the following web-link: https://www.centurytextind.com/assets/pdf/code-of-conduct/code-of-conduct.pdf

5. Number of Directors/KMPs/employees/workers against whom disciplinary action was taken by any law enforcement
agency for the charges of bribery/ corruption.
FY 2022-23 FY 2021-22
Current Financial Year Previous Financial Year
Directors
KMPs
Nil Nil
Employees
Workers
6. Details of complaints about conflict of interest:
FY 2022-23 FY 2021-22
Current (FY) Previous (FY)
Number Remarks Number Remarks
Number of complaints received about issues of Conflict of Interest Nil - Nil -

of the Directors
Number of complaints received about issues of Conflict of Interest Nil - Nil -

of the KMPs
7. rovide details of any corrective action taken or underway on issues related to fines / penalties /action taken by
P
regulators/ law enforcement agencies/ judicial institutions, on cases of corruption and conflicts of interest.
No fines or penalties have been imposed about corruption or conflicts of interest during the financial year ended
31st March, 2023.
Leadership Indicators
1. Awareness Programmes conducted for value chain partners on any of the principles during the financial year:
% of value chain partners covered

Total number of awareness Topics / principles covered under (by the value of business done
Programmes held the training with such partners) under the
awareness Programmes
CTIL recognises the importance of awareness Programmes for its Value chain partners to address evolving business
needs and maintain a sustainable working environment throughout its operations. As part of its commitment to
transparency and accountability, CTIL is currently collecting data on the topics covered in these trainings and the
extent of coverage among its value chain partners. This information will be disclosed in upcoming reports.
2. Does the entity have processes in place to avoid/ manage conflict of interests involving members of the Board?
(Yes/No) If yes, provide details of the same.
Yes, the Company has procedures in place to avoid and manage conflicts of interest affecting board members. It
is governed by the Code of Conduct for the members of the Board and Senior Management.

Principle 2
Businesses should provide goods and services in a manner that is

sustainable and safe
CTIL recognises the importance of sustainable development and has implemented a range of practices across
its business verticals to ensure that its goods and services are provided efficiently, safely, and sustainably.
The Company believes in taking proactive measures to mitigate its environmental footprint while maintaining
transparency in supply chain management.

1. Percentage of R&D and capital expenditure (capex) investments in specific technologies to improve the environmental
and social impacts of production and processes to total R&D and capex investments made by the entity, respectively.
FY 2022-23 FY 2021-22 Details of improvements in environmental and social

(Current FY) (Previous FY) impacts
CTIL has undertaken numerous research projects with a

strong focus on utilising modern technologies to achieve
improved environmental and social impacts.
• As a member of the Better Cotton Initiative (BCI), CTIL
is actively involved in research and development
projects aimed at promoting sustainable cotton
production and zero-harm organic cotton
production. These initiatives encompass all aspects
of sustainability, including environmental, social,
R&D 20.92 15.67
and economic considerations.
• The Company is actively engaged in research
projects aimed at creating positive environmental
and social impacts. These projects focus on areas
such as recycling, including recycled products,
recycled cotton, and recycled polyester. Additionally,
CTIL explores opportunities to utilise pre and post-
consumer waste products and extract value from
such materials.
-
Capex 0 0
2. a. Does the entity have procedures in place for sustainable sourcing? (Yes/No)
Yes, CTIL has procedures in place for sustainable sourcing in its Pulp and Paper and Textiles business verticals.
These procedures are implemented to ensure that the sourcing of raw materials is done in an environmentally
responsible and sustainable manner.
The Pulp and Paper and the Textile business vertical of CTIL actively engages in promoting sustainable
sourcing practices. All the suppliers are on-boarded only after screening for various environmental and social
parameters.
Given the unique nature of the real estate sector and the challenges in tracking sustainable sourcing data,
CTIL’s Real Estate business is in the process of developing appropriate procedures and mechanisms for
tracking the information with respect to sustainable sourcing, as this requires careful consideration of factors
such as supply chain complexity, local regulations, and market dynamics. However, the Company is committed
to working with its suppliers, contractors, and other stakeholders to ensure that sustainable sourcing practices
are integrated into its real estate projects.
b. If yes, what percentage of inputs were sourced sustainably?
Business Vertical Pulp and Paper Textiles Real Estate
% of inputs that were

96 11 0
sourced sustainably
3. Describe the processes in place to safely reclaim your products for reusing, recycling, and disposing at the end
of life, for (a) Plastics (including packaging) (b) E-waste (c) Hazardous waste and (d) other waste.
CTIL, as a part of EPR, reclaims plastic packaging for recycling. All plastic packaging is reclaimed and collected by
a third party for safe disposal/recycling.

4. Whether Extended Producer Responsibility (EPR) is applicable to the entity’s activities (Yes / No). If yes,
whether the waste collection plan is in line with the Extended Producer Responsibility (EPR) plan submitted to
Pollution Control Boards? If not, provide steps taken to address the same.
Yes, EPR with respect to plastic packaging waste is applicable, and the waste collection plan for the same is in
line with the Extended producers Responsibility (EPR).
EPR category 1 and 2 is applicable to the Company. CTIL, under Producers, Importers, and Brand Owners (PIBO)
is a Brand owner, recognises its responsibility in managing the environmental impact of its packaging. While CTIL
itself may not be a plastic producer, it acknowledges the role it plays as a brand owner and takes steps to adhere
to EPR guidelines.
Pulp and Paper and Textiles Businesses are registered with the Central Pollution Control Board (CPCB) as a PIBO
entity. CTIL has implemented a waste collection plan in line with the Extended Producer Responsibility (EPR)
requirements outlined by the CPCB. This plan ensures the proper collection, recycling, and disposal of packaging
waste associated with the Producers, Importers and Brand Owners (PIBO). The Real Estate Business does not fall
under the scope of EPR.
For the fiscal year 2022, CTIL has received credits for its EPR efforts, indicating its compliance with relevant
regulations. In the ongoing fiscal year 2023, CTIL is in the process of submitting its EPR plan for evaluation and
credits.
1. Has the entity conducted Life Cycle Perspective / Assessments (LCA) for any of its products (for the manufacturing
industry) or for its services (for the service industry)? If yes, provide details in the following format?
Yes, the Real Estate division has conducted a Life Cycle Assessment (LCA) for its project, Birla Niyaara, consisting of
two 75-storey towers located in Worli, Mumbai. This residential multiple-dwelling project underwent the assessment
during the concept design stage, focusing on the elemental construction level. The assessment primarily considered
the manufacturing processes and embodied carbon of the construction materials themselves.
The LCA study conducted by the Real Estate division reflects their commitment to acknowledging and promoting
actions that maximise construction product consumption efficiency. It also aims to facilitate the selection of items
with a low environmental impact throughout the building’s life cycle. By doing so, the division aims to reduce the
overall environmental burden associated with construction products and contribute to sustainable construction
practices.
The life cycle stages covered in the study are as follows:
product stage constuction stage Use stage End of life stage
NIC Name of % of total Turnover Boundary for Whether Results

Code Product Contributed which the conducted by communicated in
/Service Life Cycle independent public domain (Yes/
Perspective / external No) If yes, provide
Assessment was agency (Yes/ the web-link.
conducted No)
68100 Building % of total Turnover Boundary: Birla Yes No

contributed by Niyaara Project
the project will be
computed once
project completion
takes place.

2. If there are any significant social or environmental concerns and/or risks arising from production or disposal of your
products / services, as identified in the Life Cycle Perspective / Assessments (LCA) or through any other means, briefly
describe the same along-with action taken to mitigate the same.
Name of Product / Service Description of the risk / concern Action Taken
No significant social or environmental concerns have been identified during the LCA of the project.
3. Percentage of recycled or reused input material to total material (by value) used in production
(For manufacturing industry) or providing services (for service industry).
Indicate input material Recycled or re-used input material to total material (%)
FY 2022-23 FY 2021-22

Textiles 0.02 0.29
Currently we do not have systems in place to record information regarding the percentage
of recycled or reused input material to the total material. However, we are committed to
sustainable practices and are actively exploring ways to incorporate more recycled and
Real Estate
reused materials in our construction processes. We are also working towards implementing
robust tracking and reporting mechanisms to capture and share this information in the
future.
4. Of the products and packaging reclaimed at end of life of products, amount (in metric tons) reused, recycled, and safely
disposed, as per the following format.
FY 2022-23 FY 2021-22
Value in metric tonnes Safely Safely
Re-Used Recycled Re-Used Recycled
Disposed Disposed
Plastics (Including packaging) - - - - - -

E-waste
None of our products or packaging materials lead to the generation of E-waste and
Hazardous waste*
hazardous products
Other waste
5. Reclaimed products and their packaging materials (as percentage of products sold) for each product category.
Indicate product category Reclaimed products and their packaging materials as % of

total products sold in the respective category
For the current financial year, the percentage of total products

Plastic waste as part of EPR sold in the respective category has not been calculated.
However, CTIL aims to disclose this indicator in the future.

Principle 3
Businesses should respect and promote the well-being of all employees,

including those in their value chains
The Company recognises the significant impact that a satisfied and empowered workforce can have on its
growth and success. As part of its commitment to responsible business practices, CTIL prioritises the well-
being of all individuals involved in its value chain. This approach underscores the Company’s dedication to
sustainability and ethical conduct.
Our governance structure ensures strict compliance with relevant laws and regulations pertaining to employee
and worker rights. CTIL vehemently opposes any form of exploitative labour, including child labour, forced labour,
and any other involuntary work arrangement, whether paid or unpaid. Furthermore, we are dedicated to cultivating
a work environment that is safe, hygienic, and accessible for all employees. By fostering such conditions, we aim
to enhance their overall well-being, boost productivity, and promote job satisfaction.
CTIL, values the contributions of every employee, regardless of their position or affiliation with the Company.
The Company extends equal respect and support to contract labour, ensuring they are provided with a secure
and equitable workplace. We believe in offering opportunities for professional development and training to
empower our employees to enhance their skills and advance in their careers. Additionally, we have established a
robust grievance redressal mechanism, which encourages employees to voice their concerns comfortably and
guarantees timely and appropriate resolution.

Essential Indicators
1. a. Details of measures for the well-being of employees.
% of employees covered by
Health Accident Maternity Paternity Day Care

Category Total insurance insurance benefits Benefits facilities
(A)
Number % Number % Number % Number % Number %
(B) (B/ A) (C) (C/A) (D) (D/A) (E) (E/ A) (F) (F/ A)
Permanent employees
Male 1149 1149 100 1149 100 N/A N/A 0 0 0 0
Female 78 78 100 78 100 78 100 N/A N/A 0 0
Total 1227 1227 100 1227 100 78 6.35 0 0 0 0
Other than Permanent employees
Male 60 0 0 17 28.33 N/A N/A 0 0 0 0
Female 18 0 0 2 11.11 2 11.11 N/A N/A 0 0
Total 78 0 0 19 24.36 2 2.56 0 0 0 0
b. Details of measures for the well-being of workers:
% of workers covered by
Health Accident Maternity Paternity Day Care

Category Insurance Insurance Benefits Benefits Facilities
Total
(A)
Number % Number % Number % Number % Number %
(B) (B/A) (C) (C/A) (D) (D/A) (E) (E/A) (F) (F/A)
Permanent workers
Male 3028 3028 100 2932 96.82 N/A N/A 0 0 0 0
Female 55 55 100 55 100 55 100 N/A N/A 0 0
Total 3083 3083 100 2987 96.89 55 1.78 0 0 0 0
Other than Permanent Workers
Male 5587 5587 100 0 0 0 0 0 0 0 0
Female 328 328 100 322 98.17 0 0 0 0 0 0
Total 5915 5915 100 322 5.44 0 0 0 0 0 0

2. Details of retirement benefits.
Benefits FY 2022-23 (Current FY) FY 2021-22 (Previous FY)

No. of No. of Deducted and No. of No. of Deducted and
employees workers deposited with employees workers deposited
covered as covered as the authority covered as covered as with the
a % of total a % of total (Y/N/N.A.) a % of total a % of total authority
employees workers employees workers (Y/N/N.A.)
Provident Fund (PF) 100 100 Y 100 100 Y

Gratuity 100 100 Y 100 100 Y
*Employees’ State
Insurance 52.9 62.4 Y 57.01 65.4 Y
(ESI)
Others – please
NA NA NA NA NA NA
specify
* All employees and workers are covered under ESI for whom it is applicable as per the local laws
3. Accessibility of workplaces
re the premises / offices of the entity accessible to differently abled employees and workers, as per the
A
requirements of the Rights of Persons with Disabilities Act, 2016? If not, whether any steps are being taken by the
entity in this regard.
The Company is fully committed to promoting inclusivity and diversity within its workforce. CTIL ensures that
the premises and offices in all verticals are accessible to differently-abled employees and workers, as per the
requirements of the Rights of Persons with Disabilities Act, 2016.
In all the business vertical of CTIL, measures to enhance accessibility have been implemented. This includes the
provision of ramps for wheelchair access and the availability of accessible restrooms on the ground floor. It is
important to note that the Real Estate business does not have any specific plants or factories. However, within their
office spaces and project sites, accessibility measures are implemented to ensure inclusivity for all individuals.
4. Does the entity have an equal opportunity policy as per the Rights of Persons with Disabilities Act, 2016? If so,
provide a web-link to the policy.
CTIL recognises the importance of equal opportunity and inclusivity in accordance with the Rights of Persons
with Disabilities Act, 2016. The entity has implemented an equal opportunity policy to ensure that individuals with
disabilities are treated fairly and have access to the same opportunities as others.
The web-link to the policy is not currently available. However, the Company is actively working towards making
the policy accessible online to provide stakeholders with easy access to the policy and demonstrate CTIL’s
commitment to promoting inclusivity and equal rights for individuals with disabilities.
5. Return to work and retention rates of permanent employees and workers that took parental leave.
Real Estate Permanent employees Permanent workers
Gender Return to work rate Retention rate Return to work rate Retention rate
Male NA NA NA NA
Female 100% 100% # #
Total 100% 100% - -
The above table represents data for the Real Estate business. No Parental leave was availed in the other business verticals.
* Not applicable as per the HR Policy Manual.
# For permanent female workers, none of the workers availed parental leave in this financial year.

6. Is there a mechanism available to receive and redress grievances for the following categories of employees and
workers? If yes, give details of the mechanism in brief.
Yes/ No
(If yes, then give details of the mechanism in brief)
Permanent Workers Yes, the Company has established a robust mechanism to receive and
redress grievances for employees and workers. The following details the
mechanism in brief:
1. Open Communication Channels: Employees and workers have the
opportunity to meet the management personally to discuss any
issues or concerns. This allows for direct communication and the
Other than Permanent Workers opportunity for immediate resolution.
2. Grievance Drop Box: A drop box is available within the Company
premises where employees and workers can securely share their
concerns. This provides a confidential and accessible method for
lodging grievances.
3. Discussion with Management: Employees are encouraged to openly
discuss their concerns with senior management or their reporting
Permanent Employees manager/unit head. This ensures that grievances are heard by relevant
authorities and appropriate actions can be taken.
4. Confidentiality: The Company maintains strict confidentiality for
individuals raising concerns. If an employee or worker wishes to
remain anonymous, their identity will be protected, allowing them to
freely express their grievances.
5.
Whistle-blower Policy: The Company has implemented a whistle-
Other than Permanent Employees blower policy that enables all employees to report any suspected
or actual misconduct in the organisation. This policy ensures that
employees can raise concerns anonymously, further promoting a
culture of transparency and accountability.
6.
Prevention of Sexual Harassment (POSH) Policy: The Company
has developed a comprehensive Policy on Prevention of Sexual
Harassment at Workplace. This policy aims to prevent, prohibit,
and address instances of sexual harassment, providing a safe and
respectful work environment for all employees and workers.
7. Ethics and Vigilance Officer: The Company has designated an Ethics
and Vigilance officer who serves as a focal point for receiving and
addressing grievances. All employees and workers are encouraged to
approach the Ethics and Vigilance officer to share their grievances in
a confidential and supportive manner.
The Company’s commitment to addressing grievances ensures that
employees and workers have a platform to voice their concerns and that
appropriate actions are taken to resolve them.

7. Membership of employees and workers in association(s) or Unions recognised by the listed entity:
Category FY 2022-23 FY 2021-22

Total employees No. of employees / % Total employees No. of employees / %

/ workers in workers in respective (B/A) / workers in workers in respective (D/C)
respective category, who are respective category, who are
category (A) part of association(s) category (C) part of association(s)
or Union (B) or Union (D)
Total Permanent
1,227 0 0 1,200 0 0
Employees
- Male 1,149 0 0 1,133 0 0
- Female 78 0 0 67 0 0
Total Permanent
3,083 0 0 3,149 0 0
Workers
- Male 3,028 0 0 3,092 0 0
- Female 55 0 0 57 0 0
8. Details of training given to employees and workers:

Total On Health and On Skill Total On Health and safety On Skill

(A) safety measures upgradation (D) measures upgradation
No. % (B/A) No. % (C/A) No. % (E/D) No. % (F/D)

(B) (C) (E) (F)
Employees
Male 1149 789 69% 962 84% 1133 964 85.08% 279 24.6%
Female 78 72 92% 27 35% 67 24 35.8% 18 26.8%
Total 1,227 861 70% 989 81% 1,200 991 82.5% 300 25%
Workers
Male 3028 2476 81.7% 1606 53% 3092 2292 74.1% 1478 47.8%
Female 55 55 100% 55 100% 57 57 100% 57 100%
Total 3,083 2,531 82% 1661 53.8% 3,149 2,349 74.5% 1535 48.7%
*This table covers data for training of permanent employees and workers.

9. Details of performance and career development reviews of employees and worker:
FY 2022-23 FY 2021-22
Total (A) No. (B) % (B/A) Category Total (C) No. (D) % (D/C)
Employees
1149 1149 100% Male 1133 1133 100%
78 78 100% Female 67 67 100%
1,227 1,227 100% Total 1,200 1,200 100%
Workers
3,028 3,028 100% Male 3092 3,092 100%
55 55 100% Female 57 57 100%
3,083 3,083 100% Total 3,149 3,149 100%
10. Health and safety management system:
a. Whether an occupational health and safety management system has been implemented by the entity? (Yes/
No). If yes, what is the coverage of such a system?
Yes, the entity has implemented an Occupational Health and Safety Management System. This system provides
comprehensive coverage for all employees, including contract workers. It ensures that occupational health and
safety measures are effectively implemented and monitored throughout the organisation.
b. What are the processes used to identify work-related hazards and assess risks on a routine and non-routine basis
by the entity?
CTIL follows consistent practices across its business verticals to identify work-related hazards and assess risks on
a continuous (routine and non-routine) basis. The processes used in this regard are as follows:
• Hazard Identification and Risk Assessment (HIRA) is used by CTIL to evaluate the workplace environment
and engage with employees and workers to identify potential hazards and assess the associated risks. By
conducting HIRA, CTIL aims to proactively identify the potential risks and implement appropriate control
measures to minimise or eliminate those risks
• Job Safety Analysis (JSA) is carried out before issuing permits for critical activities. Here, each job task is broken
down into smaller phases, with each step being examined to find potential hazards and mitigation measures.
• Behaviour Based Safety Operations (BBSO) system is in place, which helps to identify the behavior based risk
and, also with reporting of unsafe acts & unsafe conditions the hazards get identified
• Incidence investigation system in place also helps in identifying the Hazards/Risks
• Safety Audits are also carried out in house and by external agency.
CTIL recognises the importance of identifying and addressing work-related hazards and risks across its business
verticals. By implementing these processes, CTIL aims to ensure a safe and healthy work environment for its
employees and workers.
c. Whether you have processes for workers to report the work-related hazards and to remove themselves from such
risks. (Yes/No)
Yes, CTIL has provided its employees and workers training and awareness on hazard identification and reporting
procedures. Company has established processes for workers and employees to report work-related hazards and
remove themselves from such risks. Workers have access to various reporting mechanisms such as dedicated
reporting forms, direct communication with supervisors or the Health and Safety department. Additionally,
a whistleblower policy is in place to allow anonymous reporting of suspected or actual hazards. In the event of
identifying a hazard, workers are empowered to take immediate action to remove themselves from the risk and
notify supervisors or follow established evacuation procedures. These processes ensure prompt reporting and active
worker engagement in maintaining a safe working environment.

d. Do the employees/ workers of the entity have access to non-occupational medical and healthcare services?
(Yes/No)
Yes, employees and workers of the Company have access to non-occupational medical and healthcare services.
The Company provides comprehensive health and wellness benefits to its employees, ensuring their well-being
beyond occupational health considerations. These benefits include:
1. Health Insurance: All employees are covered under the Company’s health insurance policy. This coverage extends
to the employee and their immediate family members, providing financial support for medical expenses in the
event of illness or injury. This ensures that employees have access to necessary medical treatments and services
outside of work-related incidents.
2. Accident Insurance: The Company also offers accident insurance coverage to its employees. This coverage
provides financial protection in case of accidents resulting in disability or loss of life. It offers additional support to
employees and their families during unforeseen circumstances.
3. Wellness Programmes: The Company promotes employee well-being through various wellness Programmes and
initiatives. These Programmes may include regular health check-ups, health screenings, preventive care measures,
and access to wellness resources. By prioritising non-occupational healthcare services, the Company aims to
support the overall health and wellness of its employees.
Additionally, to ensure access to medical services, the Company has established clinics or partnered with local
healthcare providers near the plant site and HO. These clinics are equipped to provide a range of non-occupational
healthcare services, including general medical consultations, preventive care, vaccinations, and treatment for
common illnesses and injuries. The clinics may also have arrangements with specialists or hospitals for referrals
and further medical care if needed.
By providing access to non-occupational medical and healthcare services, the Company demonstrates its
commitment to the holistic well-being of its employees. It recognises that employees’ health extends beyond the
workplace and takes steps to ensure they have adequate coverage and support for their healthcare needs.
11. Details of safety related incidents, in the following format:
FY 2022-23 FY 2021-22
Safety Incident/Number Category
Employees 1.06 0.43

Lost Time Injury Frequency Rate (LTIFR)
(per one million person hours worked)
Workers 0.37 0.69
Employees 11 36
Total recordable work-related injuries
Workers 7 35
Employees 0 0
No. of fatalities
Workers 2 0
Employees 0 0
High-consequence work-related injury or ill
health (excluding fatalities)
Workers 0 0

12. Describe the measures taken by the entity to ensure a safe and healthy workplace.
The Company has implemented several measures to ensure a safe and healthy workplace across all its business verticals.
These measures include:
Health and Safety Department: The Company has a dedicated Health and Safety department
1. responsible for overseeing safety-related activities, promoting a culture of safety, and continuously
improving occupational health and safety (OHS) performance.
Safety Handbook: Workers and employees are provided with a comprehensive safety handbook
2. that outlines essential safety guidelines, procedures, and protocols to follow in the workplace. This
handbook serves as a reference for employees to understand and adhere to safety practices.
Safety Trainings: Regular safety trainings are conducted by the Company to equip employees,
Labourers, and visitors with the necessary knowledge and skills to work safely. These trainings cover
3.
a wide range of topics, including hazard identification, emergency response procedures, proper use of
personal protective equipment (PPE), and safe work practices.
Safety Awareness Programme: The Company has implemented a safety awareness Programme to
promote a strong safety culture throughout the organisation. Through regular communication and
4. awareness initiatives, employees are kept informed about safety policies, procedures, and updates. This
Programme also includes health guidelines that cover aspects such as hygiene practices, ergonomic
considerations, and preventive measures for maintaining well-being.
Fire Manuals and Emergency Response Procedures: The Company provides comprehensive training on
fire safety protocols, evacuation procedures, and the proper use of firefighting equipment. This training
5. ensures that personnel on site are well-prepared to respond effectively in case of a fire emergency.
Additionally, the Company has established emergency response procedures that cover various types
of emergencies, including medical incidents, natural disasters, or hazardous material spills.
“Do’s and Don’ts” Guidelines: Clear and concise guidelines on safe practices and behaviors are provided
6. through “do’s and don’ts” instructions. These guidelines help prevent accidents and minimise risks by
highlighting what individuals should and should not do in specific situations.
Furthermore, the Company has implemented Hazard Identification and Risk Assessment (HIRA), Job Safety Analysis (JSA), and
Shop Floor Safety Trainings initiatives. These initiatives encompass all employees and workers, ensuring that they are equipped
to identify and report work-related hazards and take appropriate measures to protect themselves.
By implementing these measures, the Company prioritises the safety and well-being of its workforce, fostering a secure and
healthy workplace environment.

13. Number of complaints on the following made by employees and workers

CTIL is continuously working on maintaining safe and healthy workplace.
FY 2022-23 (Current FY) FY 2021-22 (Previous FY)
Pending Pending
Filed during Filed during
resolution at Remarks resolution at the Remarks
the year the year
the end of year end of year
Working Conditions 0 0 - 0 0 -
Health & Safety 0 0 - 0 0 -
14. Assessments for the year
% Of your plants and offices that were assessed

(by entity or statutory authorities or third parties)
Health and safety practices 100
Working Conditions 100
15. P
rovide details of any corrective action taken or underway to address safety-related incidents (if any) and on significant
risks / concerns arising from assessments of health & safety practices and working conditions.
In response to recent safety-related incidents, we want to emphasise our strong commitment to ensuring the safety and
well-being of our employees. The safety of our employees and workers is our top priority, and we have, taken immediate
and significant corrective actions to address these incidents and mitigate any potential risks or concerns. We have
implemented stringent measures to proactively identify and rectify unsafe work conditions and behavior.
1. Establishment of robust reporting processes: 2. Thorough internal and external audits:
We have implemented dedicated processes that Internal and external audits have been conducted
encourage personnel to promptly report any to assess our safety-related data and practices.
near-miss accidents, recordable incidents, or These audits serve as a vital component of
work-related illnesses. This ensures that potential our Occupational Health and Safety (OHS)
hazards are identified and addressed in a timely management system, enabling us to identify any
manner. gaps or areas for improvement.
3. Heightened safety measures: 4. Enhanced traffic safety:
To prevent injuries from falls, we have installed Convex mirrors have been strategically placed
a lifeline system on the roof, providing a secure to improve visibility and prevent traffic accidents
means of protection for workers operating at within our premises.
heights.

5. Fire prevention measures: 6. Upgraded machine guards:
Critical electrical panels are equipped with CO2 New machine guards have been installed to
flooding systems to safeguard against electrical provide enhanced protection to workers, effectively
fires, ensuring the safety of our employees and the shielding them from rotating parts and sharp
protection of our facilities. edges of various equipment.
7. Horizontal Fall Protection System for Roof: 8. Serious Injury and Fatality Prevention
Programme
Fall from height safety system solution has
Serious injury and fatality Programme has
been implemented to prevent falls from height in
been launched to identify conditions, incorrect
horizontal work areas.
practices, and dangerous acts (referred to as at-
risk behaviours) that have the potential to result in
fatalities incidents or serious injuries.
These corrective actions and preventive measures highlight our unwavering dedication to creating a safe and healthy working
environment for our employees. We remain committed to continuous evaluation and improvement of our health and safety
practices, investing in resources, training, and technology to uphold the highest standards of occupational health and safety.
1. Does the entity extend any life insurance or any compensatory package in the event of death of (A) Employees (Y/N)
(B) Workers (Y/N)?
1 Employee Yes
2 Workers Yes
2. Provide the measures undertaken by the entity to ensure that statutory dues have been deducted and deposited by the
value chain partners.
CTIL, comprising various business verticals, has undertaken significant measures to ensure that statutory dues have been
deducted and deposited by our value chain partners. We recognise the importance of compliance in all aspects of our
operations. Following measures have been taken:
Engagement of compliant vendors:

1. Each of our business verticals engages vendors who have a proven track record of full compliance with applicable
laws. This ensures that our value chain partners uphold their legal obligations regarding statutory dues.
Internal control mechanism:

2. CTIL, as part of its internal control mechanism, has implemented necessary checks to verify the timely and full
payment of statutory dues by service providers for their employees.
Challan copy verification:

3. When processing payments to contractors and third parties, we require them to provide us with a challan copy
as proof of deposit for Provident Fund (PF) and Employee State Insurance (ESI) of their employees.
Online checking of compliance:

4. We also perform online checks on the Goods and Services Tax (GST) returns or deposit proofs of PF and ESI
provided by the contractors or third parties.
By implementing these measures, our business verticals ensure that statutory dues are deducted and deposited by our
value chain partners.

3. Provide the number of employees/ workers having suffered high consequence work related injury/ ill-health/ fatalities
(as reported in Q11 of Essential Indicators above), who have been rehabilitated and placed in suitable employment or
whose family members have been placed in suitable employment:
Total no. of affected employees/workers No. of employees/ workers that are rehabilitated
and placed in suitable employment or whose family
members have been placed in suitable employment
FY 2022-23 FY 2021-22 FY 2022-23 FY 2021-22

(Current FY) (Previous FY) (Current FY) (Previous FY)
Employees Nil Nil Nil Nil
Workers 2 Nil 2 Nil
4. Does the entity provide transition assistance Programmes to facilitate continued employability and the management
of career endings resulting from retirement or termination of employment? (Yes/ No)
Yes, CTIL across its business verticals recognises the importance of facilitating continued employability and managing
career endings resulting from retirement or termination of employment. While there is no formal transition assistance
Programme in place, the Company has a longstanding culture of providing extensions to mid to senior-level employees
and executives post-retirement. This practice is deeply rooted in the Company’s culture and demonstrates its commitment
to supporting employees even beyond their active employment.
While specific data and information regarding transition assistance Programmes for different business verticals are not
currently available, the Company aims to provide this information in the coming years.
In addition to providing service extensions, the Company also emphasises employee training and development to support
them during the transition phase. Training Programmes are offered to equip individuals with the necessary skills and
knowledge for career changes, enabling them to smoothly transition into new roles or explore alternative career paths.
These Programmes focus on enhancing skills, building confidence, and adapting to new professional challenges.
The Company’s HR department plays a vital role in assessing individual needs, providing guidance, and offering support
throughout the transition process.
By investing in employee development and offering relevant training initiatives, the Company demonstrates its commitment
to the long-term success and employability of its workforce. This commitment to facilitating transitions and empowering
employees showcases the Company’s dedication to their growth and success beyond their current roles.
5. Details on assessment of value chain partners:
% of value chain partners (by value of business done with such partners) that were assessed
Pulp and Paper Textile Real Estate
Health and safety conditions 0 0 0
Working conditions 0 0 0
6. Provide details of any corrective actions taken or underway to address significant risks / concerns arising from
assessments of health and safety practices and working conditions of value chain partners.
Not applicable

Principle 4
Businesses should respect the interests of and be responsive to all its

stakeholders
CTIL is deeply committed to respecting the interests of all its stakeholders and being responsive to their needs.
The Company recognises that its actions have an impact on various stakeholders, including local communities,
employees, suppliers, and customers. CTIL takes a proactive approach to address their concerns and prioritise
their well-being. By engaging in open and transparent communication, CTIL ensures that stakeholder voices are
heard, and their feedback is incorporated into decision-making processes. The Company values the relationships
with its stakeholders and strives to build mutual trust and understanding. CTIL’s commitment to respecting
and responding to the interests of all stakeholders underscores its dedication to creating positive and mutually
beneficial outcomes.

1. Describe the processes for identifying key stakeholder groups of the entity.
CTIL recognises the significance of identifying key stakeholder groups and engaging with them effectively. To ensure
a comprehensive understanding of its stakeholders, CTIL undertook the following processes:
1. Stakeholder Mapping to identify and categorise different stakeholder groups based on their relationship and
relevance to the Company’s operations.
2. Stakeholders are selected based on their level of influence, importance, or potential impact on CTIL’s activities.
3. CTIL implemented various channels, such as surveys and feedback mechanisms, to actively engage with
stakeholders.
4. CTIL also conducted internal consultations with its staff, managers, and board members.
2. List stakeholder groups identified as key for your entity and the frequency of engagement with each stakeholder
Stakeholder Whether Channels of communication Frequency of Purpose and scope of

Group identified as (Email, SMS, Newspaper, engagement engagement including key
Vulnerable & Pamphlets, Advertisement, (Annually/ Half topics and concerns raised
Marginalised Community Meetings, yearly/Quarterly/ during such engagement
Group (Yes/No) Notice Board, Website), others – please
Other specify)
Investors No Notices, Newspapers, E-mail, Ongoing as and Cultivate trust, improve
Website, earning calls, when needed transparency, obtain access to
physical/ virtual meetings capital, influence shareholders,
and fulfil mandatory regulatory
requirements.
Regulators/ No Official correspondence, As per the Pre-project approval, ongoing
Government Meetings and Consultations, requirement compliances, issue resolutions,
and Correspondence Regulatory transparency and reporting,
Regulatory reporting, Regulatory collaboration, and consultation,
Authority Submissions, building trust and credibility
Regulatory Portals and
platforms, Website
Customers/ No Direct Contact, Online Continuing Pre-sales inquiries, project
Consumers Platforms, Emails, Phone, updates, post-sales support,
Survey and feedback forms, understanding the demand and
social media platforms, needs, feedback and surveys,
Website building relationships and
trust, resolving complaints and
issues
Suppliers Yes (Small and Emails, phone, direct in- Ongoing as and Supplier selection and
(including Local Suppliers) person meetings, Website when needed evaluation, business
landowners operations-related matters,
for Real to enhance collaboration
Estate) and innovation, explore
opportunities for process
improvements, contract
negotiations, and cost
optimisation.
Community/ No Community Meetings, As and when Establish positive relationships,
Local Outreach Programmes, required address community concerns,
Community Grievance redressal community development,
mechanism, Website promote social responsibility
Employees No Email, Intranet Portals, Weekly, monthly, HR and internal policy-related
Phone, and Personal quarterly, yearly matters and matters related to
Interactions, Notice Boards, and depending on the well-being of employees,
Website the nature of the performance of the Company,
communication important announcements,
and specific needs policies etc,

1. Provide the processes for consultation between stakeholders and the Board on economic, environmental, and
social topics or if consultation is delegated, how is feedback from such consultations provided to the Board.
The Company carries out an extensive stakeholder engagement to get the perspective of the group of stakeholders
and inputs on material economic, environmental and social topics for the business. The senior management level
is then notified of the gaps and observations found during the board review process to ensure that appropriate
corrective action is taken. The board is then updated on the progress of any actions taken to remediate the gaps
and observations, if any.
2. hether stakeholder consultation is used to support the identification and management of environmental, and
W
social topics (Yes / No). If so, provide details of instances as to how the inputs received from stakeholders on
these topics were incorporated into policies and activities of the entity.
Yes, stakeholder consultation is used to support the identification and management of environmental and social
topics. The Company actively seeks input from stakeholders on these issues and incorporates their suggestions
into its policies and activities. Through these consultations, the Company reaffirms its ongoing priorities related to
the identified material topics. The inputs received from stakeholders play a crucial role in shaping the Company’s
approach to environmental and social matters, ensuring alignment with stakeholder expectations, and enhancing
the overall sustainability of its operations.
3. Provide details of instances of engagement with, and actions taken to, address the concerns of vulnerable/
marginalised stakeholder groups.
CTIL, across its three business verticals, is dedicated to engaging with and addressing the concerns of vulnerable
and marginalised stakeholder groups. The Company recognises that access to essential services and opportunities
is crucial for the well-being of these communities.
In its Pulp and Paper business, CTIL undertakes initiatives to provide safe water, healthcare facilities, education,
and other necessary amenities to individuals in need.
Similarly, in its Real Estate business, CTIL focuses on creating inclusive communities by developing projects that
cater to the diverse needs of marginalised groups.
Additionally, in its Textiles business, the Company promotes fair and ethical practices throughout its supply
chain, ensuring the welfare of workers and suppliers from vulnerable groups. CTIL’s commitment to supporting
vulnerable and marginalised stakeholders is demonstrated through various actions and initiatives that aim to
uplift these communities and contribute to their overall development.
The inputs received from communities during stakeholder engagement processes and discussions were
considered. This information was used to develop various CSR initiatives and provide necessities like health
services and sanitation facilities. For example, medical camps were organised in Lalkuan, benefitting 748 people.
Another instance of community engagement leading to CSR initiative is the development of grasslands and water
holes for wild-life in Haldwani.

Principle 5
Businesses should respect and promote human rights
CTIL, across its three business verticals, is committed to upholding and promoting human rights. CTIL operates
in compliance with applicable local laws and regulations, ensuring that human rights standards are maintained
at all levels within its operations. CTIL adheres to the laws and regulations of each country where it operates,
respecting the rights and well-being of its employees, suppliers, and other stakeholders. The Company
proactively engages with local communities, taking into account their social and cultural contexts to ensure that
human rights are upheld in a manner that is appropriate and relevant. CTIL is also committed to adhering to
internationally recognised human rights principles. The Company recognises the importance of global standards
and frameworks such as the Universal Declaration of Human Rights and the International Labour Organisation’s
core conventions. CTIL embeds human rights considerations and principles into its decision-making processes
covering from employee welfare to supply chain management and its business practices.

1. Employees and workers who have been provided training on human rights issues and policy(ies) of the entity, in the
following format:
No. of employees No. of employees % (D/C)

Total (A) / workers covered % (B/A) Total (C) / workers covered
(B) (D)
Employees
Permanent 1227 1197 97.56 1200 451 37.58
Other than permanent 78 0 0 91 3 3.30
Total employees 1305 1197 91.72 1291 454 35.17
Workers
Permanent 3,083 1517 49.21 3149 1535 48.75
Other than permanent 5915 1864 31.51 5672 1516 26.73
Total workers 8,998 3381 37.58 8821 3051 34.59
2. Details of minimum wages paid to employees and workers, in the following format
Total Equal to minimum More than Total Equal to More than

(A) wage minimum wage (D) minimum wage minimum wage
No. (B) % (B/A) No. (C) % (C/A) No. (E) % (E/D) No. (F) % (F/D)
Employees
Permanent
Male 1,149 0 0 1,149 100 1,133 11 1 1,122 99
Female 78 0 0 78 100 67 2 3 65 97
Other Than Permanent
Male 60 0 0 60 100 81 0 0 81 100
Female 18 0 0 18 100 10 0 0 10 100

Workers
Permanent
Male 3,028 274 9 2,754 91 3,092 651 21 2,441 79
Female 55 14 22 43 78 57 33 58 25 42
Other than permanent
Male 5,587 806 14 4,781 86 5,408 817 15 4,591 85
Female 328 307 94 21 6 264 228 86 36 14

3. Details of remuneration/salary/wages, in the following format:
Male Female
Number Median remuneration/ Number Median remuneration/

salary/ wages of the salary/ wages of
respective category respective category
Board of Directors 5 36,76,841 2 34,94,341

(BoD)
Key Managerial 3 13,730,000 0 -

Personnel
Employees other 1224

9,20,000 (Total)
than BoD and KMP
Workers 3028 5,11,299 55 6,72,491
4. Do you have a focal point (Individual/ Committee) responsible for addressing human rights impacts or issues
caused or contributed to by the business? (Yes/No)
Yes, The Ethics and Vigilance officer is responsible for ensuring the well-being and rights of employees and workers
at the workplace. This is a crucial role in addressing any concerns or grievances raised by employees and workers,
providing them with a platform to voice their issues and seek resolution.
CTIL recognises the importance of creating a safe and inclusive work environment for women. In compliance
with the Prevention of Sexual Harassment (POSH) of Women at Workplace Act, the Company has set up Internal
Complaints Committees at each of its offices and units. These committees are responsible for receiving and
addressing complaints related to sexual harassment, ensuring a supportive and respectful workplace for women.
5. Describe the internal mechanisms in place to redress grievances related to human rights issues.
CTIL has established internal mechanisms to address and redress grievances related to human rights issues
across its three business verticals. These mechanisms ensure that employees have channels to report concerns
and seek resolution in a confidential and secure manner.
Employees are encouraged to bring any human rights-related issue to the attention of the Ethics and Vigilance
officer at the Company level. Grievances or concerns must be reported in writing, providing detailed information
about the issue. To ensure confidentiality, the complaint is required to be submitted in a closed and secure envelope.
Upon receiving a complaint, a preliminary investigation is conducted to gather relevant information and assess the
nature and severity of the issue. The findings of the investigation are then presented to the audit committee, which
plays a key role in reviewing and addressing human rights concerns. Actions and measures are taken based on the
recommendations provided by the audit committee, ensuring appropriate redressal of the grievance.
To resolve any human rights-related issues, personal meetings with the department or the HR Department are
scheduled.
In addition to the internal mechanisms, CTIL has implemented a whistle-blower system that enables employees
to report potential violations of human rights or any other misconduct. This system allows employees to notify
management about any concerns they may have, providing an additional avenue for addressing human rights
issues and ensuring a culture of transparency and accountability.

6. Number of Complaints on the following made by employees and workers:
FY 2022-23 Current (FY) FY 2021-22 Previous (FY)
Filed during Pending Remarks Filed during Pending Remarks

at the end of at the end of
year year
Sexual Harassment 2 2* -
Discrimination at workplace
Child Labour
Forced Labour/Involuntary No complaints were received No complaints were received
Labour during the year during the year
Wages
Other human rights related
issues
* Disposed off as on Date of this Report.
7 Mechanisms to prevent adverse consequences to the complainant in discrimination and harassment cases.
CTIL has implemented robust mechanisms to prevent adverse consequences to the complainant in cases of
discrimination and harassment. The Company’s policies, including the Whistle-blower Policy and the Prevention
of Sexual Harassment (POSH) Policy, are designed to safeguard the rights of complainants and ensure their
confidentiality throughout the process.
When a complaint is received, CTIL takes immediate action to ensure the privacy and well-being of the complainant.
Confidentiality is maintained throughout the investigation process, and only individuals directly involved in
the resolution of the complaint have access to the information. This helps create a safe environment for the
complainant to come forward and share their concerns without fear of retaliation or adverse consequences.
CTIL is committed to thoroughly investigating all discrimination and harassment cases and taking appropriate
actions to address them. The Company ensures that complainants are treated with respect, and that their rights are
protected throughout the entire process. This includes providing necessary support, maintaining confidentiality,
and taking necessary steps to prevent any form of victimisation or adverse impact on the complainant.
8. Do human rights requirements form part of your business agreements and contracts? (Yes/No)
Business vertical Responses
PULP AND PAPER Yes
TEXTILES Yes
REAL ESTATE Yes
9. Assessments of the year
% of value chain partners (by value of business done with such partners)
that were assessed
Pulp and Paper Textiles Real Estate
Sexual harassment
Child labour
100% 100% 100%
Forced/involuntary labour
Wages
Others – please specify

10. P
rovide details of any corrective actions taken or underway to address significant risks / concerns arising from the
assessments at Question 9 above.
No significant risk or concern has been raised from the completed assessments during this financial year .
1. Details of a business process being modified / introduced because of addressing human rights grievances/
complaints.
No such modifications have been implemented as there have been no grievances/complaints of human rights
violation received by the Company during this financial year.
2. Details of the scope and coverage of any Human rights due diligence conducted
No specific Due diligence exercise has been conducted by the Company during this financial year.
3. Is the premise/office of the entity accessible to differently-abled visitors, as per the requirements of the Rights of
Persons with Disabilities Act, 2016?
PULP AND PAPER Yes
TEXTILES Yes
REAL ESTATE Yes
4. Details on assessment of value chain partners:
% of value chain partners (by value of business done with such partners) that
were assessed
Sexual harassment
Child labour
100% 100% 100%
Forced/involuntary labour
Wages
Others – please specify
5. rovide details of any corrective actions taken or underway to address significant risks / concerns arising from
P
the assessments at Question 4 above.
No significant risk or concerns were identified from the completed assessments during this financial year .

Principle 6
Businesses should respect and make efforts to protect and restore the
environment
CTIL is committed to environmental stewardship and recognises the crucial role it plays in preserving and
restoring the natural world. As a responsible corporate entity, CTIL prioritises sustainable practices across all its
business operations. The Company is dedicated to implementing effective and efficient resource management
methods, ensuring responsible consumption and production patterns.

1. Details of total energy consumption (in Joules or multiples) and energy intensity, in the following format:
FY 2022-23 FY 2021-22
Parameter Unit (Current Financial Year) (Previous Financial Year)
Total electricity consumption (A) TJ 510.56 414.24
Total fuel consumption (B) TJ 15,489.81 16376.29
Energy consumption through

TJ 0 0
other sources (C)
Total Energy Consumption

TJ 16,000.37 16,790.53
(A+B+C)
Energy Intensity (GJ/ 1 lakhs `) (GJ/ lakhs `) 33.90 41.27
2. oes the entity have any sites / facilities identified as designated consumers (DCs) under the Performance, Achieve
D
and Trade (PAT) Scheme of the Government of India? (Y/N) If yes, disclose whether targets set under the PAT scheme
have been achieved. In case targets have not been achieved, provide the remedial action taken, if any.
Yes, certain sites/facilities with respect to its Pulp and Paper and Textile verticals as designated consumers (DCs) covered
under the Performance, Achieve and Trade (PAT) Scheme of the Government of India. The details are given below:
Pulp and Paper Textile

• For the pulp and paper business, targets were • In the Assessment Year 2019-20, targets were
set under the PAT scheme. In the previous PAT set under the PAT scheme for the textile business.
cycles, Cycle-1 and Cycle-2, the targets were In the PAT Cycle-1, the targets were overachieved
overachieved by 17.26% and 12.38%, respectively. by 11.82%.
3. Provide details of the following disclosures related to water, in the following format:
Parameter FY 2022-23 FY 2021-22

(Current FY) (Previous FY)
Water withdrawal by source (in kilolitres)
(i) Surface water 672,885.80 756,290.34
(ii) Groundwater 13,206,081.05 14,007,839.15
(iii) Third party water (Municipal water supplies) 71,938.00 49,538.77
(iv) Seawater / desalinated water
(v) Others (Recycled)
Total volume of water withdrawal (in kilolitres) (i + ii + iii + iv + v) 13,950,904.85 14,813,668.26
Total volume of water consumption (in kilolitres) 19,261,415.85 20,553,479.26
Water intensity per rupee of turnover (KL/1 lakhs `) 40.81 50.52

4. Has the entity implemented a mechanism for Zero Liquid Discharge? If yes, provide details of its coverage and
implementation.
Yes, the Company has implemented a mechanism for Zero Liquid Discharge at its Textiles business.
A Zero Liquid Discharge (ZLD) ETRP (Evaporation and Thermal Reduction Process) plant with MEE (Multiple Effect
Evaporation) and ATFD (Agitated Thin Film Dryer) technology is installed to minimise and move towards eliminating water
discharge from industrial processes.
• The ZLD ETRP plant utilises a combination of evaporation and thermal reduction processes to treat the
wastewater.
• Multiple Effect Evaporation (MEE) uses a series of evaporators to evaporate water from the wastewater. This
process involves heating the wastewater in multiple stages, with each stage utilising the vapour generated
from the previous stage as a heat source, thereby maximising energy efficiency.
• Agitated Thin Film Dryer (ATFD) is a component of the ZLD ETRP plant that helps in the final stage of water
removal. It is a specialised dryer that utilises a thin film of wastewater on a heated surface to evaporate the
remaining water content. The resulting concentrated solids or residues are then collected for proper disposal
or further treatment.
The treatment process in the ZLD ETRP plant focuses on treatment of hardness, total suspended solids (TSS), and turbidity.
These parameters are important indicators of water quality and are typically regulated by environmental standards. By
treating the wastewater to reduce hardness, TSS, and turbidity, the plant ensures that the discharged water meets the
required quality criteria.
The treated water is recovered and reused within the industrial process or for other non-potable applications. This not only
helps conserve water resources but also minimises the environmental impact associated with wastewater discharge.
5. Please provide details of air emissions (other than GHG emissions) by the entity, in the following format:
Parameter Please specify unit FY 2022-23 (Current FY) FY 2021-22 (Previous FY)
NOx MT 866.16 744.45
SOx MT 365.85 271.99
Particulate Matter (PM) MT 730.33 469.97
Persistent Organic
Pollutants (POP) MT - -
Volatile organic
Compounds (VOC) MT - -
Hazardous air
pollutants (HAP) MT - -
Others- please specify MT - -

6. Provide details of greenhouse gas emissions (Scope 1 and Scope 2 emissions) & its intensity, in the following format:
Parameter Unit FY 2022-23 FY 2021-22

Total Scope 1 emissions (Break-up of the Metric tonnes of CO2 803,839.79 867,662.80
GHG into CO2, CH4, N2O, HFCs, PFCs, SF6, equivalent
NF3, if available)
Total Scope 2 emissions (Break-up of the Metric tonnes of CO2 104,456.16 91,245.00
GHG into CO2, CH4, N2O, HFCs, PFCs, SF6, equivalent
NF3, if available)
Total Scope 1 and Scope 2 emissions per MTCO2e per 1 lakhs ` 1.92 2.36
rupee of turnover
7. Does the entity have any project related to reducing Greenhouse Gas emissions? If yes, then provide details.
Yes, CTIL is actively engaged in projects aimed at reducing Greenhouse Gas (GHG) emissions, focusing on
various initiatives to minimise energy consumption.
Pulp And Paper:

The Pulp and Paper business has implemented GHG reduction measures focused on upgrading equipment to
enhance energy efficiency. These measures directly contribute to emissions reductions within the operations
and have led to annual savings of 16,760,329 kwh of electricity.
Textiles:
The Company has entered into agreements to purchase 3 MW of clean energy i.e., wind power leading to a total
reduction of 4,069 tonnes of CO2.
Real estate:
The Real Estate business has adopted the use of solar lamps to reduce electricity consumption. This initiative
enables the conservation of approximately 1,488 kWh of electricity per month, contributing to GHG emission
reduction. Real Estate business has also implemented a BioHYBRID project, which has resulted in 80% reduction
in energy usage within the coverage of the project.
These initiatives demonstrate CTIL’s commitment to actively reducing GHG emissions and promoting
sustainability across its various business verticals.

8. Provide details related to waste management by the entity, in the following format:

Total Waste generated (in metric tonnes)
Plastic waste (A) 23.92 20.40
E-waste (B) 2.00 2.40
Bio-medical waste (C) 0.00 0.00
Construction and demolition waste (D) 2177.89 1256.27
Battery Waste (E) 2.14 3.08
Radioactive waste (F) 0 0
Other Hazardous waste. Please specify, if any. (G) 1237.24 735.76
Other Non-hazardous waste generated (H). Please specify, if any.

290895.49 292290.03
(Break-up by composition i.e., by materials relevant to the sector)
Total (A+B + C + D + E + F + G + H) 294338.67 294307.94
For each category of waste generated, total waste recovered through recycling, re-using or other recovery
operations (in metric tonnes)
Category of waste
(i) Recycled 2109.92 1822.30
(ii) Re-used 287696.21 288803.71
(iii) Other recovery operations 1176.51 1748.98
Total 290982.64 292374.99
For each category of waste generated, total waste disposed by nature of disposal method (in metric tonnes)
Category of waste
(i) Incineration 0.00 0.00
(ii) Landfilling 1178.14 676.68
(iii) Other disposal operations 2177.89 1256.27
Total 3356.03 1932.95
9. Briefly describe the waste management practices adopted in your establishments. Describe the strategy adopted by
your Company to reduce usage of hazardous and toxic chemicals in your products and processes and the practices
adopted to manage such wastes.
CTIL has been working to assure minimal environmental effect by integrating the circular economy concept across
its value chain. The Company has set aside a 3R (Reduce, Reuse, and Recycle) waste management plan to effectively
manage the generated waste. Every business vertical of CTIL has a robust waste management system in place. The
waste management practices are defined below:
Pulp and Paper
• ETP sludge, DIP sludge, and Fly Ash is utilised in Board Manufacturing
• Dry pith, Wet Pith, Bark, and Saw Dust is utilised as fuel in Boilers
• Other hazardous waste such as used oil is utilised as fuel in Lime Kiln
• Adoption of Elemental Chlorine Free (ECF) technology

Textiles
• Waste disposal through third party vendors

• Recycling of textile waste, metal, carboard, paper.
• Textiles uses chemicals approved by Zero Discharge of Hazardous Chemicals (ZDHC), and promotes the
usage of level 3 chemicals for all operations
• Fly ash generated is used to make bricks
Real Estate
• Debris and other construction waste - Construction debris is used at the site for temporary road
preparation and the rest was disposed through the vendor in the landfill.
• Steel TMT, wooden scrap, waste oil, e-waste and battery waste is sold through vendors.
• Building Waste (Commercial Building) - 50% of waste is diverted to the composter machine and used as
manure for plantation.
The Company manages hazardous waste and chemical wastes as stated by the Pollution Control Boards within
permissible limits and which is disposed through authorised vendors.
10. I f the entity has operations/offices in/around ecologically sensitive areas (such as national parks, wildlife sanctuaries,
biosphere reserves, wetlands, biodiversity hotspots, forests, coastal regulation zones etc.) where environmental
approvals / clearances are required, please specify details in the following format:
S.No. Location of operations/ Type of Whether the conditions of environmental approval /

offices operations clearance are being complied with? (Y/N) If no, the reasons
thereof and corrective action taken, if any.
The entity does not have any offices or plants in ecologically sensitive areas
11. Details of environmental impact assessments of projects undertaken by the entity based on applicable laws, in the
current financial year:
Name and brief EIA Date Whether conducted by Results communicated Relevant Web
details of project Notification No. independent external in public domain Link
agency (Yes / No) (Yes / No)
The Company has not undertaken any environmental impact assessments during the current financial year as
required by any law for the current year
12. Is the entity compliant with the applicable environmental law/ regulations/ guidelines in India, such as the Water
(Prevention and Control of Pollution) Act, Air (Prevention and Control of Pollution) Act, Environment protection act and
rules thereunder (Y/N). If not, provide details of all such non-compliances, in the following format:
S. No. Specify the law / regulation Provide Any fines / penalties / action Corrective
/ guidelines which was not details of the non- taken by regulatory agencies action taken
complied with compliance such as pollution control if any
boards or by courts
CTIL complies with the applicable environmental laws and regulations implemented by the government. It follows all
the applicable environmental laws, regulations, and guidelines in India i.e., Water (Prevention and Control of Pollution)
Act, Air (Prevention and Control of Pollution) Act, Environment Protection Act and Rules there under.

1. Provide break-up of the total energy consumed (in Joules or multiples) from renewable and non-renewable sources,
in the following format:

(Current Financial Year) (Previous Financial Year)
From renewable sources: UoM: TJ
Total electricity consumption (A) 33.05
Total fuel consumption (B) 6425.22
Energy consumption through other sources (C) 0
Total energy consumed from renewable sources (A+B+C) 6458.27 6884.12
From non-renewable sources: UoM: TJ
Total electricity consumption (D) 477.51
Total fuel consumption (E) 9,064.59
Energy consumption through other sources (F) 0
Total energy consumed from non-renewable sources (D+E+F) 9542.10 9906.41
2. Provide the following details related to water discharged:
Water discharge by destination and level of treatment (in kilolitres)
(i) To Surface water
- No treatment 0 0
- With treatment – Tertiary treatment 82,99,391 88,28,383
(ii) To Groundwater
- No treatment 0 0
- With treatment – please specify level of treatment 0 0
(iii) To Seawater
- No treatment 0 0
(iv) Sent to third parties
- No treatment 0 0
(v) Others
- No treatment 0 0
Total water discharged (in kilolitres) 82,99,391 88,28,383

3. Water withdrawal, consumption, and discharge in areas of water stress (in kilolitres):
Name of the Area- Bengaluru, National Capital Region (NCR)
Nature of operations- Building Constructions

Water withdrawal by source (in kilolitres)
(i) Surface water
(ii) Groundwater 20,009.09 10,529.15
(iii) Third party water 12,340.00 6,143.00
(iv) Seawater / desalinated water
(v) Others (Recycled) Recovered water from Treated Effluent
Total volume of water withdrawal (in kilolitres) 32,349.09 16,672.15
Total volume of water consumption (in kilolitres) 32,349.09 16,672.15
Water intensity per rupee of turnover (KL/1 lakhs `) 0.07 0.04
Water intensity (optional) – the relevant metric may be selected by

the entity
Water discharge by destination and level of treatment (in kilolitres)
(i) Into Surface water
- No treatment
Nil
- With treatment – please specify level of treatment
(ii) Into Groundwater
- No treatment
Nil
(iii) Into Seawater
- No treatment
Nil
(iv) Sent to third parties
- No treatment
Nil
(v) Others
- No treatment Nil

4. Please provide details of total Scope 3 emissions & its intensity, in the following format:
FY 2022-23 FY 2021-22
Parameter Unit
Total Scope 3 emissions (Break-

Metric tonnes of
up of the GHG into CO2, CH4, N2O,
CO2 equivalent
HFCs, PFCs, SF6, NF3, if available)
At present, the Company is not accounting for

Total Scope 3 emissions per Metric tonnes of its Scope 3 emissions. The Company plans
rupee of turnover CO2 equivalent to identify the various sources of Scope 3
emissions in the near future.
Total Scope 3 emission intensity

Metric tonnes of
(optional) – the relevant metric
may be selected by the entity CO2 equivalent
5. With respect to the ecologically sensitive areas reported at Question 10 of Essential Indicators above, provide
details of significant direct & indirect impact of the entity on biodiversity in such areas along-with prevention and
remediation activities.
CTIL does not have any factory, construction site or office locations in ecologically sensitive areas.
6. I f the entity has undertaken any specific initiatives or used innovative technology or solutions to improve resource
efficiency, or reduce impact due to emissions / effluent discharge / waste generated, please provide details of the same
as well as outcome of such initiatives, as per the following format:
1 Energy Saving • Replacement of conventional lamps with solar • Conservation of energy.

Initiatives lamps, energy efficient lamps, and automated • 16,843,845 kwh of energy
lamps. saved per annum.
• Implementation of 39 energy saving initiatives • 16,000 kwh of energy
at the Pulp and Paper division. saved per day, and 8 tons
• Re-engineering of humidification at Luwa of steam saved per day.
plant and replacement of faulty traps and
additional control valve in PAD steam machine
at Textiles.
2 Water Conservation • Reclamation of stock back water system Water conservation:

Initiatives implemented • 150m3 water saved per
• Reuse of foul condensate evaporate of hour
chemical recovery plant • 100m3 water saved per
• Reuse of media filter back wash water hour
rejection by installation of bag filter • 7317 KL water saved in
FY 2022-23.
3 Waste Management • BioHYBRID plant installed at Real Estates • Usage of waste to

Practices • Biomass use in boiler operations generate electricity and
mitigate 1,500 kg of
• Waste to energy Programme implemented
carbon dioxide per day
• Proper management of
waste and reduction in
disposal

7. Does the entity have a business continuity and disaster management plan? Give details in 100 words/ web link.
Yes, CTIL recognises the importance of business continuity and disaster management to ensure the resilience of
its operations. As a diversified Company with interests in textiles, pulp and paper, and real estate, CTIL understands
the need to have robust plans in place to address potential disruptions and safeguard its stakeholders. In an
ever-changing business landscape, CTIL remains focused on leveraging its strengths across multiple industries,
reducing dependence on any single sector, and prioritising the safety and well-being of its employees, customers,
and other stakeholders.
CTIL’s emergency response plan (ERP) and onsite emergency plans for each unit serve as the foundation of their
preparedness strategy. These plans outline specific actions to be taken in various emergency scenarios, such as
fire and explosion, electrocution, medical and social emergencies, technological failures, and natural or man-made
disasters. The objectives of these plans include containing incidents, reducing casualties, implementing migratory
measures, and facilitating relief and rescue operations.
To ensure effective emergency response, CTIL conducts regular training and drills to familiarise personnel with
their roles and responsibilities. This enhances overall preparedness and coordination during critical situations.
The emergency response team, which includes management representation, follows a formal structure and
communication protocol to effectively manage and communicate during and after emergencies.
CTIL’s disaster management plan focuses on identifying potential emergency situations, assessing associated
risks, implementing prevention and mitigation measures, and periodically evaluating the effectiveness of
preparedness efforts. The Company is committed to maintaining high safety standards and holds the necessary
licenses and approvals to demonstrate compliance with regulatory requirements.
By integrating business continuity and disaster management into its operations, CTIL strives to build resilience,
adaptability, and sustainable growth, ensuring the Company’s ability to navigate unforeseen challenges and
contribute to a better tomorrow.
8. isclose any significant adverse impact to the environment, arising from the value chain of the entity. What
D
mitigation or adaptation measures have been taken by the entity in this regard?
The Company has not observed any adverse impacts to the environment by the suppliers’ that were assessed for
these parameters.
9. Percentage of value chain partners (by value of business done with such partners) that were assessed for environmental
impacts.
PULP AND PAPER -
TEXTILES 4
REAL ESTATE -

Principle 7
Businesses, when engaging in influencing public and regulatory policy,

should do so in a manner that is responsible and transparent
CTIL recognises the importance of engaging with public and regulatory policy in a responsible and transparent
manner. The Company operates in compliance with applicable legislation and regulations, working closely with
government authorities to ensure its business activities align with the prevailing policies. CTIL acknowledges its
role in contributing to the development of robust and effective public and regulatory frameworks, fostering an
environment of responsible business conduct and transparency. By actively participating in policy discussions
and advocating for responsible practices, CTIL strives to make a positive impact on public and regulatory policy
formulation and implementation.

1. a. Number of affiliations with trade and industry chambers/ associations.

12 affiliations
b. List the top 10 trade and industry chambers/ associations (determined based on the total members of such a
body) the entity is a member of/ affiliated to.
Name of the trade and industry chambers/ associations Reach of trade and industry chambers/
associations (State/National)
CREDAI-MCHI (Maharashtra Chamber of Housing Industry) National
NAREDCO West foundation National
Jhagadia Association State
Employers Association of Northern India, Kanpur State
Federation of Indian Exports Organisation National
The Cotton Textiles Export Promotion Council National
Indian Paper Manufacturers Association National
Confederation of Indian Industry National
Indian Pulp & Paper Technical Association National
National Safety Council National
Kumaun Gharwal Chamber of Commerce and Industry State
Coal Consumers’ Association of India National
2. Provide details of corrective action taken or underway on any issues related to anti-competitive conduct by the entity,
based on adverse orders from regulatory authorities.
Name of authority
Not Applicable, the Company does
not have any adverse orders against
Brief of the case
issues related to anti-competitive
conduct during this financial year.
Corrective action taken
1. Details of public policy positions advocated by the entity:
S. Public policy Method resorted for Whether Frequency of Review Web Link, if
No. advocated such advocacy information by Board (Annually/ available
available in the Half yearly/ Quarterly
public domain? / Others – please
(Yes/No) specify)
1. Development Suggestions were provided

Plan - Pune through the “Suggestion -
Metropolitan Objection mechanism of PMRDA”
Yes - -
Region for Development Plan for Pune
Development Metropolitan Region Development
Authority Authority

Principle 8
Businesses should promote inclusive growth and equitable development
CTIL proudly embraces the principle of promoting inclusive growth and equitable development as a cornerstone
of its corporate social responsibility. With its dynamic business verticals, CTIL recognises the power and
responsibility it holds to address community needs and champion the well-being of all stakeholders, particularly
marginalised communities. By prioritising their interests, CTIL endeavours to generate meaningful impacts such
as improved livelihoods, expanded access to essential services, and the creation of opportunities for social and
economic advancement.
Through proactive engagement with communities, comprehensive needs assessment, and sustainable initiatives,
CTIL endeavours to foster inclusivity, empower marginalised groups, and champion equitable development. By
championing inclusive growth and equitable development, CTIL seeks to shape a future where businesses play
a pivotal role in driving social progress and building a more equitable world.

1. Details of Social Impact Assessments (SIA) of projects undertaken by the entity based on applicable laws, in the
current financial year.
Name and brief SIA Date of Whether conducted by Results communicated Relevant
details of project Notification notification independent external in public domain Web link
No. agency (Yes / No) (Yes / No)
Not Applicable
2. Provide information on project(s) for which ongoing Rehabilitation and Resettlement (R&R) is being undertaken by your
entity, in the following format:
S. No. Name of Project State District No. of Project % Of PAFs Amounts paid to
for which R&R is Affected Families covered by R&R PAFs in the
ongoing (PAFs) 2022-23 (In `)
Not Applicable
3. Describe the mechanisms to receive and redress grievances of the community.

CTIL recognises the importance of addressing community grievances related to its factories, plants, and real
estate projects across its three business verticals: textiles, pulp and paper, and real estate. The Company has
implemented robust mechanisms to receive and redress these grievances, ensuring effective communication,
resolution, and fostering positive relationships with the community.
CTIL actively encourages open dialogue and engagement with the local community surrounding its factories,
plants, and real estate projects. Regular meetings and interactions are organised to provide community members
with a platform to voice their grievances, express concerns, and share feedback directly with the Company.
Additionally, complaint drop boxes have been installed at the entrances of these facilities, enabling community
members to conveniently submit their grievances.
To ensure proper monitoring and documentation, CTIL maintains a comprehensive complaint register. This
register records all grievances received from the community and serves as a reference for tracking the progress
of their resolution. The Company has assigned a designated person within each business vertical responsible for
addressing and resolving these complaints in a timely and effective manner.
CTIL’s community grievance redressal mechanism extends beyond internal processes. The Company actively
engages with relevant stakeholders, including local authorities and community leaders, to collaboratively find
appropriate solutions and address community concerns.
By implementing these mechanisms, CTIL demonstrates its commitment to listening to and addressing the
grievances of the community surrounding its factories, plants, and real estate projects. The Company strives
to maintain transparent and constructive communication with the community, resolving issues promptly, and
working towards mutually beneficial outcomes.
4. Percentage of input material (inputs to total inputs by value) sourced from suppliers:
PULP AND PAPER FY 2022-23 FY 2021-22

Current (FY) ` Previous (FY) `
Directly sourced from MSMEs/ small producers 60.56 52.63
Sourced directly from within the district and neighbouring 0 0

districts

TEXTILES FY 2022-23 FY 2021-22

Directly sourced from MSMEs/ small producers 5.86 5.73

Sourced directly from within the district and neighbouring 12.95 10.29
districts
REAL ESTATE FY 2022-23 FY 2021-22

Directly sourced from MSMEs/ small producers 4.82 -

Sourced directly from within the district and neighbouring 4.82 -
districts
1. Provide details of actions taken to mitigate any negative social impacts identified in the Social Impact Assessments
(Reference: Question 1 of Essential Indicators above):
Details of negative social impact identified Corrective action taken
Not Applicable
2. Provide the following information on CSR projects undertaken by your entity in designated aspirational districts as
identified by government bodies:
State Aspirational District Amount spent (In `)
Uttarakhand Udham Singh Nagar 8,28,810
3. (a) Do you have a preferential procurement policy where you give preference to purchase from suppliers comprising
marginalised /vulnerable groups? (Yes/No)
PULP AND PAPER Yes
TEXTILES No
REAL ESTATE No
(b) From which marginalised /vulnerable groups do you procure?
Business vertical Response
MSME, local and small suppliers, and raw material is also sourced
Pulp and Paper
from farmers through intermediaries.
Textiles NA
Real Estate NA

(c) What percentage of total procurement (by value) does it constitute? -
PULP AND PAPER 2.89%.
TEXTILES NA
REAL ESTATE NA
4. Details of the benefits derived and shared from the intellectual properties owned or acquired by your entity (in the
current financial year), based on traditional knowledge:
Intellectual Property based on Owned/ Acquired Benefit shared Basis of calculating benefit
traditional knowledge (Yes/No) (Yes / No) share
Not applicable, since CTIL has not acquired any intellectual property based on traditional knowledge for any of its
businesses.
5. Details of corrective actions taken or underway, based on any adverse order in intellectual property related disputes
wherein usage of traditional knowledge is involved.
Name of authority
Not applicable, since CTIL has not
acquired any intellectual property
Brief of the case
based on traditional knowledge for
any of its businesses
Corrective action taken
6. Details of beneficiaries of CSR Projects:
CSR Project No. of persons % of beneficiaries from vulnerable

benefited from CSR and marginalised groups
Projects (Approx.)
Promoting Primary and Secondary Education in Rural and Most of the CSR activities and
14398
Socially & Economically backward communities. projects undertaken by the
Company are specifically targeted
Preventive and curative health services in communities 25368 towards benefiting vulnerable and
Environmental Sustainability 1000 marginalised groups in society.
However, presently, it is challenging
Rural Infrastructure Development Projects 13000 to provide an accurate percentage
of beneficiaries from these groups.
Agriculture and Animal Husbandry 3000 The Company remains committed
Sanitation Provisions 10000 to supporting and uplifting these
sections of society through its CSR
Animal Welfare - initiatives.

Principle 9
Businesses should engage with and provide value to their consumers in a

responsible manner
CTIL acknowledges the significance of its customers and their pivotal role in the Company’s growth. Aligned with
Principle 9, the Company places utmost importance on engaging with and providing value to its consumers in a
responsible manner. By adopting a customer-centric approach, CTIL is committed to not only meeting the needs
of its customers but also exceeding their expectations. This dedication drives the continuous development of
high-quality products, experiences, and robust customer relationships. Through these efforts, CTIL strives
to ensure customer satisfaction, foster loyalty, and achieve long-term business success while upholding its
responsibility towards its valued consumers.

1. Describe the mechanisms in place to receive and respond to consumer complaints and feedback.
Our respective business verticals have implemented robust mechanisms to receive and address consumer complaints
and feedback, ensuring efficient complaint resolution, personalised support, and a seamless customer experience.
Pulp and Paper initially had a The Textiles business vertical has The Real Estate business has
customer survey which was replaced implemented a well-designed implemented multiple channels
by NPS. To address and respond system to ensure prompt resolution to address customer concerns
to customer feedback, Pulp and and ongoing improvement based on effectively. We utilise WhatsApp Bots,
Paper has a well-defined SOP. Once customer feedback. and a dedicated contact email, and
any negative feedback is received, When a customer provides feedback also assign Relationship Managers
it is registered in the system. Post or lodges a complaint, a Complaint who are responsible for resolving
registration, a decision is taken File Identification and Resolution any complaints or issues raised by
about whether the nature of the (CFIR) number is generated. customers.
problem is technical, or sales related Each complaint is then carefully Additionally, we have implemented a
and how the issue will be evaluated. analysed to determine the nature Customer Relationship Management
Based on collective discussions, it is of the issue, assess its impact, and (CRM) system that enables
then decided whether the consumer identify potential root causes and customers to raise tickets for their
will be given compensation, or the appropriate resolution is provided to complaints or requests, ensuring a
product will be replaced. the client. streamlined and organised process
for resolution.
2. Turnover of products and/ services as a percentage of turnover from all products/service that carry information about:
Factors to be considered As a percentage to total turnover

Environmental and social parameters relevant to the product
Safe and responsible usage 100 100 100
Recycling and/or safe disposal
3. Number of consumer complaints in respect of the following:
FY 2022-23 FY 2021-22
(Current Financial Year) (Previous Financial Year)
Received Pending Received Pending

during the resolution at Remarks during the resolution at Remarks
year end of year year end of year
Data privacy
Advertising
Cyber-security
No complaints have been received No complaints have been received
Delivery of essential services
from consumers from consumers
Restrictive Trade Practices
Unfair Trade Practices
Other

4. Details of instances of product recalls on account of safety issues:
Number Reasons for recall
Voluntary recalls
Nil
Forced recalls
5. Does the entity have a framework/ policy on cyber security and risks related to data privacy? (Yes/No) If available,
provide a web-link of the policy.
Business vertical Response Web-link
Pulp and Paper Yes Not disclosed publicly
Textiles Yes Not disclosed publicly
Security Policy:
Real Estate Yes https://sustainability.adityabirla.com/images/
Security%20Policy.pdf
6. Provide details of any corrective actions taken or underway on issues relating to advertising, and delivery of essential
services; cyber security and data privacy of consumers; re-occurrence of instances of product recalls; penalty / action
taken by regulatory authorities on safety of products / services.
Business vertical Response
Pulp and Paper
Textiles Not Applicable
Real Estate
1. Channels / platforms where information on products and services of the entity can be accessed (provide web link, if
available).
All the products and services details are available on the Company’s website
Business vertical Website
Pulp and Paper https://www.centurypaperindia.com/product-b2b
Textiles https://www.birlacentury.com/product_index.html
Real Estate https://www.birlaestates.com/projects

2. Steps taken to inform and educate consumers about safe and responsible usage of products and/or services.
To ensure the safe and responsible In the Textiles business, For residential projects, as no deliveries
usage of products, the Pulp and safety warnings are have been made, measures to inform
Paper business informs consumers prominently displayed customers about safe and responsible
through its website about the proper on polybags used for usage will be reviewed in the following
usage guidelines. Additionally, packaging. These warnings financial year. However, for commercial
customer meetings are conducted serve to inform consumers projects, the Company provides
to educate them about the safe about the safe usage and information to customers regarding
handling and use of the Company’s handling of the textile waste disposal practices, energy-saving
products. We Provide product products. measures, and fire safety guidelines. This
booklet with the product. ensures that consumers are aware of
the responsible usage of the real estate
services provided by the Company.
3. Mechanisms in place to inform consumers of any risk of disruption/discontinuation of essential services.

Not Applicable, since CTIL’s products don’t fall under the category of essential services.
4. a. Does the entity display product information on the product over and above what is mandated as per local
laws? (Yes/No/Not Applicable) If yes, provide details in brief.
No
b. Did your entity carry out any survey about consumer satisfaction relating to the major products / services
of the entity, significant locations of operation of the entity or the entity as a whole? (Yes/No)
Yes, the real estate business vertical has conducted a survey on customer satisfaction
5. Provide the following information relating to data breaches:
a. Number of instances of data breaches along-with impact.

No instances of data breach were observed during the reporting year ended 31st March, 2023.
b. Percentage of data breaches involving personally identifiable information of consumers

No instances of data breach were observed during the reporting year ended 31st March, 2023.
Concluding the report:

With this Business Responsibility and Sustainability Report, CTIL is committed to providing valuable insights and
information on its non-financial performance, its dedication to responsible business practices and sustainability.
The report serves as a transparent and comprehensive source of information, enabling stakeholders to gain a deeper
understanding of CTIL’s initiatives and progress in key areas.
CTIL recognises the importance of continuous improvement in reporting practices and aims to enhance its reporting
standards. By doing so, the Company intends to offer even more comprehensive and transparent information in future
reports, ensuring that stakeholders have access to accurate and relevant data to make informed decisions.
The ultimate goal is to empower stakeholders, including investors, customers, employees, communities, and
regulatory bodies, to actively engage with CTIL and participate in its collective endeavour to build a better tomorrow.
By providing comprehensive information and fostering open dialogue, CTIL aims to create a collaborative environment
where stakeholders can contribute their perspectives, insights, and feedback, thereby strengthening the Company’s
sustainability efforts.
CTIL acknowledges that achieving sustainability goals requires collaboration and engagement from all stakeholders.
The Company is committed to fostering meaningful dialogue, listening to stakeholder expectations and concerns, and
incorporating their feedback into its decision-making processes. By building strong relationships and partnerships, CTIL
strives to create a positive impact on society and the environment, driving sustainable development and contributing to
a better future for all.

INDEPENDENT AUDITOR’S REPORT
To the Members of Century Textiles and Industries Limited
Report on the Audit of the Standalone Financial Statements Accountants of India together with the ethical requirements
that are relevant to our audit of the financial statements
Opinion
under the provisions of the Act and the Rules thereunder,
We have audited the accompanying standalone financial and we have fulfilled our other ethical responsibilities in
statements of Century Textiles and Industries Limited accordance with these requirements and the Code of
(“the Company”), which comprise the Balance Sheet as at Ethics. We believe that the audit evidence we have obtained
March 31 2023, the Statement of Profit and Loss, including is sufficient and appropriate to provide a basis for our audit
the statement of Other Comprehensive Income, the Cash opinion on the standalone financial statements.
Flow Statement and the Statement of Changes in Equity for
the year then ended, and notes to the standalone financial Key Audit Matters
statements, including a summary of significant accounting Key audit matters are those matters that, in our professional
policies and other explanatory information. judgment, were of most significance in our audit of the
In our opinion and to the best of our information and standalone financial statements for the financial year ended
according to the explanations given to us, the aforesaid March 31, 2023. These matters were addressed in the
standalone financial statements give the information context of our audit of the standalone financial statements
required by the Companies Act, 2013, as amended (“the as a whole, and in forming our opinion thereon, and we do
Act”) in the manner so required and give a true and fair not provide a separate opinion on these matters. For each
view in conformity with the accounting principles generally matter below, our description of how our audit addressed
accepted in India, of the state of affairs of the Company as the matter is provided in that context.
at March 31, 2023, its profit including other comprehensive We have determined the matters described below to be
income, its cash flows and the changes in equity for the the key audit matters to be communicated in our report.
year ended on that date. We have fulfilled the responsibilities described in the
Auditor’s responsibilities for the audit of the standalone
Basis for Opinion
financial statements section of our report, including in
We conducted our audit of the standalone financial relation to these matters. Accordingly, our audit included
statements in accordance with the Standards on Auditing the performance of procedures designed to respond to our
(SAs), as specified under section 143(10) of the Act. assessment of the risks of material misstatement of the
Our responsibilities under those Standards are further standalone financial statements. The results of our audit
described in the ‘Auditor’s Responsibilities for the Audit of procedures, including the procedures performed to address
the Standalone Financial Statements’ section of our report. the matters below, provide the basis for our audit opinion on
We are independent of the Company in accordance with the accompanying standalone financial statements.
the ‘Code of Ethics’ issued by the Institute of Chartered
Key audit matters How our audit addressed the key audit matter
Recognition and Measurement of Deferred tax (as described in Note 16 of the standalone Ind AS financial statements)
The Company has recognized Minimum Alternate Our procedures included, amongst others, the following:
Tax (MAT) credit receivable of ` 397.22 crores as at • Considered Company’s accounting policies with respect to
March 31, 2023. The Company also has recognized recognition and measurement of tax balances in accordance with
deferred tax assets of ` 94.04 crores on indexation Ind AS 12 “Income Taxes”.
benefit on land.
• Performed an understanding of the process and tested the internal
controls over recognition and measurement of tax balances
through inspection of evidence of performance of these controls.
• Performed the tests of details including the following key
procedures:

INDEPENDENT AUDITOR’S REPORT (Contd.)
Further, pursuant to the Taxation Laws (Amendment) • Involved tax specialists who evaluated the Company’s tax
Act, 2019 (new tax regime), the Company has positions basis the tax law and also by comparing it with prior
measured its deferred tax balances expected to years and past precedents.
reverse after the likely transition to new tax regime, • Discussed the future business plans and financial projections
at the rate specified in the new tax regime. as approved by the management.
The recognition and measurement of MAT credit • Assessed the management’s long-term financial projections
receivable and deferred tax balances is a key audit and the key assumptions used in the projections by comparing
matter as the recoverability of such credits within the it with the past trends, approved business plan, projections
allowed time frame in the manner prescribed under used for estimation of likely year of transition to the new tax
tax regulations and estimation of year of transition regime and projections used for impairment assessment,
to the new tax regime involves significant estimate where applicable.
of the financial projections, availability of sufficient
• Assessed the deferred tax on temporary differences which are
taxable income in the future and admissibility of tax
expected to reverse after the likely date of transition to the new
positions adopted by the Company.
tax regime and considered the impact thereof.
• Assessed the disclosures in accordance with the requirements of
Ind AS 12 “Income Taxes”.
Assessing the carrying value of Real estate inventories (as described in Note 9 of the standalone financial statement)
As at March 31, 2023, the carrying value of the Our audit procedures included considering the Company’s accounting
inventory of ongoing real estate projects is Rs. 1,018 policies with respect to valuation of inventories in accordance with Ind
Crore. The inventories are held at the lower of the AS 2 “Inventories”.
cost and net realisable value. We assessed the Company’s methodology based on current economic
The cost of the inventory is calculated using and market conditions, applied in assessing the carrying value of
actual land acquisition costs, construction costs, Inventory balance. We performed test of controls over process of
development related costs and interest capitalised valuation of inventory and authorization for inventory write down.
for eligible projects. We performed the following test of details:
We identified the assessment of whether carrying • Assessed the methods used by the management, in determining
value of inventory were stated at the lower of cost the NRV of ongoing real estate projects.
and net realisable value (“NRV”) as a key audit
• Obtained, read and assessed the management’s process in
matter due to the significance of the balance to the
estimating the future costs to completion for inventory of ongoing
standalone financial statements as a whole and the
projects.
involvement of estimations in the assessment. The
determination of the NRV involves estimates based • Discussed with management the life cycle of the project, key project
on prevailing market conditions and taking into risks, changes to project strategy, current and future estimated
account the estimated future selling price, cost to sales prices, construction progress and impairment.
complete projects and selling costs. • Compared the NRV to recent sales in the project or to the estimated
selling price in the nearby properties.
Other Information
The Company’s Board of Directors is responsible for the other information. The other information comprises the information
included in the Annual report, but does not include the standalone financial statements and our auditor’s report thereon.
Our opinion on the standalone financial statements does not cover the other information and we do not express any form of
assurance conclusion thereon.
In connection with our audit of the standalone financial statements, our responsibility is to read the other information and, in
doing so, consider whether such other information is materially inconsistent with the financial statements or our knowledge
obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude
that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report
in this regard.

Responsibilities of Management for the Standalone professional judgment and maintain professional
Financial Statements skepticism throughout the audit. We also:
The Company’s Board of Directors is responsible for the • Identify and assess the risks of material misstatement
matters stated in section 134(5) of the Act with respect to of the standalone financial statements, whether due
the preparation of these standalone financial statements to fraud or error, design and perform audit procedures
that give a true and fair view of the financial position, responsive to those risks, and obtain audit evidence
financial performance including other comprehensive that is sufficient and appropriate to provide a basis
income, cash flows and changes in equity of the Company for our opinion. The risk of not detecting a material
in accordance with the accounting principles generally misstatement resulting from fraud is higher than for
accepted in India, including the Indian Accounting Standards one resulting from error, as fraud may involve collusion,
(Ind AS) specified under section 133 of the Act read with forgery, intentional omissions, misrepresentations, or
the Companies (Indian Accounting Standards) Rules, 2015, the override of internal control.
as amended. This responsibility also includes maintenance • Obtain an understanding of internal control relevant to
of adequate accounting records in accordance with the the audit in order to design audit procedures that are
provisions of the Act for safeguarding of the assets of the appropriate in the circumstances. Under section 143(3)
Company and for preventing and detecting frauds and (i) of the Act, we are also responsible for expressing
other irregularities; selection and application of appropriate our opinion on whether the Company has adequate
accounting policies; making judgments and estimates that internal financial controls with reference to financial
are reasonable and prudent; and the design, implementation statements in place and the operating effectiveness of
and maintenance of adequate internal financial controls, such controls.
that were operating effectively for ensuring the accuracy
• Evaluate the appropriateness of accounting policies
and completeness of the accounting records, relevant to
used and the reasonableness of accounting estimates
the preparation and presentation of the standalone financial
and related disclosures made by management.
statements that give a true and fair view and are free from
material misstatement, whether due to fraud or error. • Conclude on the appropriateness of management’s use
of the going concern basis of accounting and, based
In preparing the standalone financial statements,
on the audit evidence obtained, whether a material
management is responsible for assessing the Company’s
uncertainty exists related to events or conditions
ability to continue as a going concern, disclosing, as
that may cast significant doubt on the Company’s
applicable, matters related to going concern and using the
ability to continue as a going concern. If we conclude
going concern basis of accounting unless management
that a material uncertainty exists, we are required to
either intends to liquidate the Company or to cease
draw attention in our auditor’s report to the related
operations, or has no realistic alternative but to do so.
disclosures in the financial statements or, if such
Those Board of Directors are also responsible for overseeing disclosures are inadequate, to modify our opinion. Our
the Company’s financial reporting process. conclusions are based on the audit evidence obtained
up to the date of our auditor’s report. However, future
Auditor’s Responsibilities for the Audit of the Standalone
events or conditions may cause the Company to cease
to continue as a going concern.
Our objectives are to obtain reasonable assurance about
• Evaluate the overall presentation, structure and content
whether the standalone financial statements as a whole
of the standalone financial statements, including the
are free from material misstatement, whether due to fraud
disclosures, and whether the standalone financial
or error, and to issue an auditor’s report that includes our
statements represent the underlying transactions and
opinion. Reasonable assurance is a high level of assurance,
events in a manner that achieves fair presentation.
but is not a guarantee that an audit conducted in accordance
We communicate with those charged with governance
with SAs will always detect a material misstatement when it
regarding, among other matters, the planned scope and
exists. Misstatements can arise from fraud or error and are
timing of the audit and significant audit findings, including
considered material if, individually or in the aggregate, they
any significant deficiencies in internal control that we
could reasonably be expected to influence the economic
identify during our audit.
decisions of users taken on the basis of these standalone
financial statements. We also provide those charged with governance with a
statement that we have complied with relevant ethical
As part of an audit in accordance with SAs, we exercise
requirements regarding independence, and to communicate

with them all relationships and other matters that may from being appointed as a director in terms of
reasonably be thought to bear on our independence, and Section 164 (2) of the Act;
where applicable, related safeguards. (f) The qualification relating to the maintenance of
From the matters communicated with those charged with accounts and other matters connected therewith
governance, we determine those matters that were of are as stated in paragraph (b) above.
most significance in the audit of the standalone financial (g) With respect to the adequacy of the internal
statements for the financial year ended March 31, 2023 financial controls with reference to these
and are therefore the key audit matters. We describe these standalone financial statements and the
matters in our auditor’s report unless law or regulation operating effectiveness of such controls, refer to
precludes public disclosure about the matter or when, in our separate Report in “Annexure 2” to this report;
extremely rare circumstances, we determine that a matter
(h) In our opinion, the managerial remuneration for
should not be communicated in our report because the
the year ended March 31, 2023 has been paid
adverse consequences of doing so would reasonably be
/ provided by the Company to its directors in
expected to outweigh the public interest benefits of such
accordance with the provisions of section 197
communication.
read with Schedule V to the Act;
Report on Other Legal and Regulatory Requirements (i) With respect to the other matters to be included
in the Auditor’s Report in accordance with Rule
1. As required by the Companies (Auditor’s Report) Order,
11 of the Companies (Audit and Auditors) Rules,
2020 (“the Order”), issued by the Central Government
2014, as amended in our opinion and to the
of India in terms of sub-section (11) of section 143 of
best of our information and according to the
the Act, we give in the “Annexure 1” a statement on the
explanations given to us:
matters specified in paragraphs 3 and 4 of the Order.
i. The Company has disclosed the impact of
2. As required by Section 143(3) of the Act, we report
pending litigations on its financial position
that:
in its standalone financial statements –
(a) We have sought and obtained all the information Refer Note 38 to the standalone financial
and explanations which to the best of our statements;
knowledge and belief were necessary for the
ii. The Company has made provision,
purposes of our audit;
as required under the applicable law
(b) In our opinion, proper books of account as or accounting standards, for material
required by law have been kept by the Company, foreseeable losses, if any, on long-term
so far it appears from our examination of those contracts including derivative contracts –
books, except that in few cases, back up of books Refer Note 43 to the standalone financial
of accounts maintained in electronic mode were statements;
taken on the next day (instead on a daily basis) as
iii. There has been no delay in transferring
stated in note 48.
amounts, required to be transferred, to the
(c) The Balance Sheet, the Statement of Profit Investor Education and Protection Fund by
and Loss including the Statement of Other the Company
Comprehensive Income, the Cash Flow Statement
iv. a) The management has represented
and Statement of Changes in Equity dealt with by
that, to the best of its knowledge and
this Report are in agreement with the books of
belief, no funds have been advanced
account;
or loaned or invested (either from
(d) In our opinion, the aforesaid standalone financial borrowed funds or share premium or
statements comply with the Accounting any other sources or kind of funds)
Standards specified under Section 133 of the by the Company to or in any other
Act, read with Companies (Indian Accounting person or entities, including foreign
Standards) Rules, 2015, as amended; entities (“Intermediaries”), with the
(e) On the basis of the written representations understanding, whether recorded
received from the directors as on March 31, 2023 in writing or otherwise, that the
taken on record by the Board of Directors, none of Intermediary shall, whether, directly
the directors is disqualified as on March 31, 2023 or indirectly lend or invest in other

persons or entities identified in any vi. As proviso to Rule 3(1) of the Companies
manner whatsoever by or on behalf of (Accounts) Rules, 2014 is applicable for the
the Company (“Ultimate Beneficiaries”) Company only w.e.f. April 1, 2023, reporting
or provide any guarantee, security under this clause is not applicable.
or the like on behalf of the Ultimate
Beneficiaries;
b) The management has represented Chartered Accountants
that, to the best of its knowledge ICAI Firm Registration Number: 324982E/E300003
and belief, no funds have been
received by the Company from any per Ravi Bansal
persons or entities, including foreign Partner
entities (“Funding Parties”), with the Place of Signature: Mumbai Membership Number: 049365
understanding, whether recorded in Date: April 24, 2023 UDIN: 23049365BGWUAW7273
writing or otherwise, that the Company
shall, whether, directly or indirectly, lend
or invest in other persons or entities Annexure 1 referred to in paragraph under the heading
identified in any manner whatsoever “Report on Other Legal and Regulatory Requirements” of
by or on behalf of the Funding Party our report of even date of Century Textiles and Industries
(“Ultimate Beneficiaries”) or provide Limited
any guarantee, security or the like on
behalf of the Ultimate Beneficiaries; In terms of the information and explanations sought by us
and and given by the Company and the books of account and
c) Based on such audit procedures records examined by us in the normal course of audit and
performed that have been considered to the best of our knowledge and belief, we state that:
reasonable and appropriate in the i. (a) (A) The Company has maintained proper records
circumstances, nothing has come to showing full particulars, including
our notice that has caused us to believe quantitative details and situation of
that the representations under sub- property, plant and equipment.
clause (a) and (b) contain any material
(a) (B) The Company has maintained proper
misstatement.
records showing full particulars of
v. The final dividend paid by the Company during intangibles assets.
the year in respect of the same declared
(b) All fixed assets have not been physically verified
for the previous year is in accordance with
by the management during the year but there is
section 123 of the Act to the extent it applies
a regular programme of verification which, in our
to payment of dividend. As stated in note 13
opinion, is reasonable having regard to the size
to the standalone financial statements, the
of the Company and the nature of its assets. No
Board of Directors of the Company have
material discrepancies were noticed on such
proposed final dividend for the year which
verification.
is subject to the approval of the members
(c) The title deeds of all the immovable properties
at the ensuing Annual General Meeting. The
(other than properties where the Company is
dividend declared is in accordance with
the lessee and the lease agreements are duly
section 123 of the Act to the extent it applies
executed in favour of the lessee) are held in the
to declaration of dividend.
name of the Company, except the immovable
properties as indicated in the table below:
Description of Gross Held in the name of Whether promoter, Period held – Reason for not
the property carrying value director or their indicate range, being held in the
(` crore) relative or employee where appropriate name of Company*
Land 0.01 Municipal Corporation No 50+ years Ongoing litigation
of Greater Mumbai with MCGM in
(MCGM) Bombay High Court

(d) The Company has not revalued its property, plant stipulated and the repayment or receipts are
and equipment (including Right of use assets) or regular.
intangible assets during the year ended March (d) There are no amounts of loans and advances in
31, 2023. the nature of loans granted to companies, firms,
(e) There are no proceedings initiated or are limited liability partnerships or any other parties
pending against the Company for holding any which are overdue for more than ninety days.
benami property under the Prohibition of Benami (e) There were no loans or advance in the nature
Property Transactions Act, 1988 and rules made of loan granted to companies, firms, limited
thereunder. liability partnerships or any other parties which
ii. (a) The inventory has been physically verified by was fallen due during the year, that have been
the management during the year except for renewed or extended or fresh loans granted to
inventories lying with third parties. In our opinion, settle the overdues of existing loans given to the
the frequency of verification by the management same parties.
is reasonable and the coverage and procedure (f) The Company has not granted any loans or
for such verification is appropriate and no advances in the nature of loans, either repayable
discrepancies of 10% or more in aggregate for on demand or without specifying any terms
each class of inventory were noticed. Inventories or period of repayment to companies, firms,
lying with third parties have been confirmed by limited liability partnerships or any other parties.
them as at March 31, 2023 and discrepancies Accordingly, the requirement to report on clause
of 10% or more in aggregate for each class of 3(iii)(f) of the Order is not applicable to the
inventory were not noticed in respect of such Company.
confirmations. iv. Loans, investments, guarantees and security in
(b) The Company has been sanctioned working respect of which provisions of sections 185 and 186
capital limits in excess of INR five crores in of the Companies Act, 2013 are applicable have been
aggregate from banks during the year on the basis complied with by the Company.
of security of current assets of the Company. v. The Company has neither accepted any deposits
The quarterly returns / statements filed by the from the public nor accepted any amounts which are
Company with such banks are in agreement with deemed to be deposits within the meaning of sections
the books of accounts of the Company. 73 to 76 of the Companies Act and the rules made
iii. (a) During the year the Company has provided loans, thereunder, to the extent applicable. Accordingly, the
advances in the nature of loans, stood guarantee requirement to report on clause 3(v) of the Order is not
and provided security to companies, firms, applicable to the Company.
limited liability partnerships or any other parties vi. We have broadly reviewed the books of account
as follows: maintained by the Company pursuant to the rules
made by the Central Government for the maintenance
(figures in ` crore)
of cost records under section 148(1) of the Companies
Particulars Guarantees Loans Act, 2013, related to the manufacture of the Company’s
Aggregate amount products, and are of the opinion that prima facie, the
granted / provided specified accounts and records have been made and
during the year maintained. We have not, however, made a detailed
- Subsidiaries - 250.07 examination of the same.
Balance outstanding as vii. (a) The Company has generally been regular
at balance sheet date in
in depositing with appropriate authorities
respect of above cases
undisputed statutory dues including goods and
- Subsidiaries 200.00 566.12 services tax, provident fund, employees’ state
(b) During the year, the investments made, insurance, income-tax, sales-tax, service tax,
guarantees provided, security given and the duty of customs, duty of excise, value added tax,
terms and conditions of the grant of all loans and cess and other statutory dues applicable to it.
advances in the nature of loans and guarantees According to the information and explanations
to companies, firms, limited liability partnerships given to us and based on audit procedures
or any other parties are not prejudicial to the performed by us, no undisputed amounts
Company’s interest. payable in respect of these statutory dues were
(c) The Company has granted loans during the year outstanding, at the year end, for a period of more
to a company where the schedule of repayment than six months from the date they became
of principal and payment of interest has been payable.

(b) The dues of goods and services tax, provident fund, employees’ state insurance, income-tax, sales-tax, service tax,
duty of custom, duty of excise, value added tax, cess, and other statutory dues have not been deposited on account
of any dispute, are as follows:
Name of statue Nature of dues Amount* Period to which Forum where the
(` crore) the amount dispute is pending
relates
Customs Act, 1962 Custom duty 0.22 2000-2001 High Court
5.43 2004-2012 CESTAT
2.03 1987-2014 Departmental Authorities
Finance Act, 1994 Service tax 0.95 2005-2010 High Court
0.02 2006-2016 CESTAT
The Central Excise Act, 1944 Excise duty 25.97 1994-2018 High Court
0.23 1994-2018 CESTAT
MVAT Act, 2002 VAT 5.16 2017-2018 Appellate Authorities
CST Act, 1995 CST 0.64 2017-2018 Appellate Authorities
Sales tax and Entry tax Sales tax and 0.33 1999-2018 High Court
Entry tax 4.67 1987-2017 Departmental Authorities
Zilla Parishad and Panchayat Samities Water charges 95.32 1991 onwards Departmental Authorities
Act 1961 cess
Bombay Provincial Municipal Octroi duty 38.54 1992-1993 High Court
Corporation Act 1949 0.04 1996-1997 Departmental Authorities
Bombay Provincial Municipal Property tax 0.75 1994 onwards Bombay High Court and
Corporation Act, 1949 Civil Court of Kalyan
Maharashtra Land Revenue Code, Others 3.22 2001-2020 Departmental Authorities
1966
* Net of deposits
viii. The Company has not surrendered or disclosed any (f) The Company has not raised loans during the year
transaction, previously unrecorded in the books of on the pledge of securities held in its subsidiaries,
account, in the tax assessments under the Income Tax joint ventures or associate companies. Hence,
Act, 1961 as income during the year. Accordingly, the the requirement to report on clause (ix)(f) of the
requirement to report on clause 3(viii) of the Order is Order is not applicable to the Company.
not applicable to the Company. x. (a) The Company has not raised any money during
ix. (a) The Company has not defaulted in repayment of the year by way of initial public offer / further
loans or other borrowings or in the payment of public offer (including debt instruments) hence,
interest thereon to any lender. the requirement to report on clause 3(x)(a) of the
Order is not applicable to the Company.
(b) The Company has not been declared willful
(b) The Company has not made any preferential
defaulter by any bank or financial institution or
allotment or private placement of shares / fully
government or any government authority.
or partially or optionally convertible debentures
(c) Term loans were applied for the purpose for during the year under audit and hence, the
which the loans were obtained. requirement to report on clause 3(x)(b) of the
(d) On an overall examination of the standalone Order is not applicable to the Company.
Ind AS financial statements of the Company, no xi. (a) No fraud by the Company or no fraud on the
funds raised on short-term basis have been used Company has been noticed or reported during the
for long-term purposes by the Company. year.
(e) On an overall examination of the standalone (b) During the year, no report under sub-section
Ind AS financial statements of the Company, (12) of section 143 of the Companies Act, 2013
the Company has not taken any funds from any has been filed by the cost auditor or secretarial
entity or person on account of or to meet the auditor or by us in Form ADT – 4 as prescribed
obligations of its subsidiaries, associates or joint under Rule 13 of Companies (Audit and Auditors)
ventures. Rules, 2014 with the Central Government.

(c) We have taken into consideration the whistle and management plans and based on our examination
blower complaints received by the Company of the evidence supporting the assumptions, nothing
during the year while determining the nature, has come to our attention, which causes us to believe
timing and extent of audit procedures. that any material uncertainty exists as on the date
xii. The Company is not a nidhi Company as per the of the audit report that Company is not capable of
provisions of the Companies Act, 2013. Therefore, the meeting its liabilities existing at the date of balance
requirement to report on clause 3(xii) of the Order is sheet as and when they fall due within a period of one
not applicable to the Company. year from the balance sheet date. We, however, state
that this is not an assurance as to the future viability
xiii. Transactions with the related parties are in compliance
of the Company. We further state that our reporting is
with sections 177 and 188 of Companies Act, 2013
based on the facts up to the date of the audit report
where applicable and the details have been disclosed
and we neither give any guarantee nor any assurance
in the notes to the standalone Ind AS financial
that all liabilities falling due within a period of one year
statements, as required by the applicable accounting
from the balance sheet date, will get discharged by the
standards.
Company as and when they fall due.
xiv. (a) The Company has an internal audit system
xx. (a) In respect of other than ongoing projects, there
commensurate with the size and nature of its
are no unspent amounts that are required to be
business.
transferred to a fund specified in Schedule VII of
(b) The internal audit reports of the Company issued the Companies Act (the Act), in compliance with
till the date of the audit report, for the period under second proviso to sub section 5 of section 135 of
audit have been considered by us. the Act. This matter has been disclosed in note 29
xv. The Company has not entered into any non-cash to the standalone Ind AS financial statements.
transactions with its directors or persons connected (b) There are no unspent amounts in respect
with its directors and hence requirement to report of ongoing projects, that are required to be
on clause 3(xv) of the Order is not applicable to the transferred to a special account in compliance
Company. of provision of sub section (6) of section 135 of
xvi. (a) The provisions of section 45-IA of the Reserve Companies Act. This matter has been disclosed
Bank of India Act, 1934 (2 of 1934) are not in note 29 to the financial statements.
applicable to the Company. Accordingly, the
requirement to report on clause (xvi)(a) of the
Order is not applicable to the Company.
(b) The Company has not conducted any Non- ICAI Firm Registration Number: 324982E/E300003
Banking Financial or Housing Finance activities
without obtained a valid Certificate of Registration per Ravi Bansal
(CoR) from the Reserve Bank of India as per the Partner
Reserve Bank of India Act, 1934. Place of Signature: Mumbai Membership Number: 049365
(c) The Company is not a Core Investment Company Date: April 24, 2023 UDIN: 23049365BGWUAW7273
as defined in the regulations made by Reserve
Bank of India. Accordingly, the requirement to Annexure 2 to the Independent Auditor’s Report of even
report on clause 3(xvi)(c) of the Order is not date on the Standalone Ind AS Financial Statements of
applicable to the Company. Century Textiles and Industries Limited
(d) The Group has one Core Investment Company as
part of the Group. Report on the Internal Financial Controls under Clause (i)
of Sub-section 3 of Section 143 of the Companies Act,
xvii. The Company has not incurred cash losses in the
2013 (“the Act”)
current as well as the immediately preceding financial
year. We have audited the internal financial controls with
reference to standalone Ind AS financial statements of
xviii. There has been no resignation of the statutory auditors
Century Textiles and Industries Limited (“the Company”)
during the year and accordingly requirement to report
as of March 31, 2023 in conjunction with our audit of the
on Clause 3(xviii) of the Order is not applicable to the
standalone Ind AS financial statements of the Company for
Company.
the year ended on that date.
xix. On the basis of the financial ratios disclosed in note 46
to the standalone Ind AS financial statements, ageing Management’s Responsibility for Internal Financial
and expected dates of realization of financial assets Controls
and payment of financial liabilities, other information
The Company’s Management is responsible for
accompanying the standalone Ind AS financial
establishing and maintaining internal financial controls
statements, our knowledge of the Board of Directors

based on the internal control over financial reporting the reliability of financial reporting and the preparation
criteria established by the Company considering the of standalone Ind AS financial statements for external
essential components of internal control stated in the purposes in accordance with generally accepted
Guidance Note on Audit of Internal Financial Controls Over accounting principles. A company’s internal financial
Financial Reporting (the “Guidance Note”) issued by the controls with reference to standalone Ind AS financial
Institute of Chartered Accountants of India (the “ICAI”). statements includes those policies and procedures that (1)
These responsibilities include the design, implementation pertain to the maintenance of records that, in reasonable
and maintenance of adequate internal financial controls detail, accurately and fairly reflect the transactions and
that were operating effectively for ensuring the orderly dispositions of the assets of the company; (2) provide
and efficient conduct of its business, including adherence reasonable assurance that transactions are recorded as
to the Company’s policies, the safeguarding of its assets, necessary to permit preparation of the standalone Ind AS
the prevention and detection of frauds and errors, the financial statements in accordance with generally accepted
accuracy and completeness of the accounting records, accounting principles, and that receipts and expenditures
and the timely preparation of reliable financial information, of the Company are being made only in accordance with
as required under the Companies Act, 2013. authorisations of management and directors of the
company; and (3) provide reasonable assurance regarding
Auditor’s Responsibility prevention or timely detection of unauthorised acquisition,
Our responsibility is to express an opinion on the use, or disposition of the Company’s assets that could
Company’s internal financial controls with reference to have a material effect on the standalone Ind AS financial
these standalone Ind AS financial statements based on statements.
our audit. We conducted our audit in accordance with the
Guidance Note and the Standards on Auditing, as specified Inherent Limitations of Internal Financial Controls With
under section 143(10) of the Act, to the extent applicable Reference to Standalone Ind AS Financial Statements
to an audit of internal financial controls, both issued by the Because of the inherent limitations of internal financial
ICAI. Those Standards and the Guidance Note require that controls with reference to standalone Idn AS financial
we comply with ethical requirements and plan and perform statements, including the possibility of collusion or improper
the audit to obtain reasonable assurance about whether management override of controls, material misstatements
adequate internal financial controls with reference to these due to error or fraud may occur and not be detected.
standalone Ind AS financial statements was established Also, projections of any evaluation of the internal financial
and maintained and if such controls operated effectively in controls with reference to standalone Ind AS financial
all material respects. statements to future periods are subject to the risk that the
Our audit involves performing procedures to obtain audit internal financial control with reference to standalone Ind
evidence about the adequacy of the internal financial AS financial statements may become inadequate because
controls with reference to these standalone Ind AS financial of changes in conditions, or that the degree of compliance
statements and their operating effectiveness. Our audit with the policies or procedures may deteriorate.
of internal financial controls with reference to standalone
Ind AS financial statements included obtaining an Opinion
understanding of internal financial controls with reference In our opinion, the Company has, in all material respects,
to these standalone Ind AS financial statements, assessing adequate internal financial controls with reference to
the risk that a material weakness exists, and testing and standalone Ind AS financial statements and such internal
evaluating the design and operating effectiveness of financial controls with reference to standalone Ind AS
internal control based on the assessed risk. The procedures financial statements were operating effectively as at
selected depend on the auditor’s judgement, including the March 31, 2023, based on the internal control over financial
assessment of the risks of material misstatement of the reporting criteria established by the Company considering
standalone Ind AS financial statements, whether due to the essential components of internal control stated in the
fraud or error. Guidance Note issued by the ICAI.
We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our audit
opinion on the Company’s internal financial controls with
reference to these standalone Ind AS financial statements.
ICAI Firm Registration Number: 324982E/E300003
Meaning of Internal Financial Controls With Reference to
these Standalone Ind AS Financial Statements
per Ravi Bansal
A company’s internal financial controls with reference Partner
to standalone Ind AS financial statements is a process Place of Signature: Mumbai Membership Number: 049365
designed to provide reasonable assurance regarding Date: April 24, 2023 UDIN: 23049365BGWUAW7273

STANDALONE BALANCE SHEET

AS AT 31 MARCH 2023
(` in Crores)
Note As at As at
Particulars
No. 31 March 2023 31 March 2022
I ASSETS
NON-CURRENT ASSETS
(a) Property, plant and equipments 3 3095.47 3205.36
(b) Capital work-in-progress 3A 187.07 173.75
(c) Investment property 4 796.61 838.73
(d) Investment property under development 4A 36.41 36.22
(e) Intangible assets 5 6.26 5.76
(f) Intangible assets under development 5A - 0.38
(g) Financial assets
(i) Investments 6 427.11 478.69
(ii) Loans 6A 566.12 342.12
(iii) Other financial assets 7 19.78 57.99
(h) Deferred tax assets (net) 16 - 5.50
(i) Advance tax (net of provisions) 54.74 50.23
(j) Other non-current assets 8 21.31 25.37
SUB-TOTAL 5210.88 5220.10
CURRENT ASSETS
(a) Inventories 9 1786.63 1377.76
(b) Financial assets
(i) Investments 6 3.00 131.00
(ii) Trade receivables 10 159.06 221.22
(iii) Cash and cash equivalents 11 23.38 17.88
(iv) Other bank balances (other than (iii) above) 11 61.30 19.39
(v) Other financial assets 7 20.25 15.11
(c) Other current assets 8 204.55 163.19
SUB-TOTAL 2258.17 1945.55
TOTAL 7469.05 7165.65
II EQUITY AND LIABILITIES
EQUITY
(a) Equity share capital 12 111.69 111.69
(b) Other equity 13 4,072.85 3807.40
SUB-TOTAL 4184.54 3919.09
LIABILITIES
NON-CURRENT LIABILITIES
(a) Financial liabilities
(i) Borrowings 14 399.09 306.88
(ia) Lease liabilities 14A 19.34 18.46
(ii) Other financial liabilities 15 117.82 98.19
(b) Deferred tax liabilities (net) 16 63.65 -
(c) Other non-current liabilities 17 525.24 560.66
SUB-TOTAL 1125.14 984.19
CURRENT LIABILITIES
(i) Borrowings 18 504.78 887.38
(ii) Trade payables 19
1) total outstanding dues of micro enterprises and small
enterprises 17.04 10.71
2) total outstanding dues of trade payables other than micro
enterprises and small enterprises 688.74 806.17
(iii) Other financial liabilities 15 171.84 148.39
(b) Provisions 20 177.27 178.55
(c) Other current liabilities 17 597.44 228.87
SUB-TOTAL 2159.37 2262.37
TOTAL 7469.05 7165.65
Significant accounting policies 2A
The accompanying notes are an integral part of the standalone financial statements
As per our report of even date
For S R B C & CO LLP For and on behalf of Board of Directors of
Chartered Accountants Century Textiles and Industries Limited
Firm Registration Number 324982E / E300003 Directors
per Ravi Bansal Atul K.Kedia Snehal Shah R.K.Dalmia Rajan A. Dalal-DIN No: 00546264
Partner Sr. Vice President (Legal) & Chief Financial Officer Managing Director Sohanlal K. Jain-DIN No: 02843676
Membership No: 049365 Company Secretary DIN No: 00040951 Preeti Vyas-DIN No: 02352395
Mumbai : 24 April 2023 Mumbai : 24 April 2023

STANDALONE STATEMENT OF PROFIT AND LOSS

FOR THE YEAR ENDED 31 MARCH 2023
(` in Crores)
Note Year Ended Year Ended
Particulars
No. 31 March 2023 31 March 2022
Continuing Operations
I Revenue from operations 21 4795.21 4129.37
II Other income 22 61.54 67.61
III Total Income (I + II) 4856.75 4196.98
IV Expenses
(a) Cost of materials consumed 23 2731.37 2276.30
(b) Purchases of traded goods 24 44.64 223.53
(c) Changes in inventories of finished goods, work-in-progress and traded 25
goods (60.94) (56.71)
(d) Employee benefits expense 26 266.62 262.59
(e) Finance costs 27 89.19 75.03
(f) Depreciation and amortisation expense 28 222.80 228.05
(g) Other expenses 29 1167.62 886.54
Total Expenses 4461.30 3895.33
V Profit before exceptional items and tax (III - IV) 395.45 301.65
VI Exceptional Items 134.21 -
VII Profit before tax from continuing operations (V - VI) 529.66 301.65
VIII Tax expense of continuing operations
(a) Current tax 16 92.84 54.99
(b) MAT credit recognised 16 - (54.99)
(c) Deferred tax 16 67.96 101.38
(d) Deferred tax relating to earlier period 16 0.55 0.48
Total tax expense 161.35 101.86
IX Profit after tax from continuing operations (VII - VIII) 368.31 199.79
X Discontinued Operations
(a) Loss before tax from discontinued operations - (7.04)
(b) Gain on sale of Century Yarn and Denim division (Refer note 35) - 17.63
(c) Tax (Expense) / Income of discontinued operations - (3.05)
Profit after tax from discontinued operations - 7.54
XI Profit for the year (IX + X) 368.31 207.33
XII Other comprehensive income
(i) Items that will be re-classified to profit or loss - continuing operations
(a) Net movement in cash flow hedge reserve - 0.63
(b) Income tax on (a) - (0.21)
(ii) Items that will not be re-classified to profit or loss - continuing
operations
(a) Re-measurement gain / (loss) on defined benefit plans 1.83 0.97
(b) Net gain / (loss) on Fair value through Other Comprehensive
Income (OCI) - Equity Instruments (59.37) 58.06
(c) Income tax on (a) & (b) (0.64) (0.34)
Total other comprehensive income / (loss) for the year (net of tax) (58.18) 59.11
XIII Total comprehensive income for the year (XI + XII) 310.13 266.44
XIV Earnings per equity share :
(a) Basic & Diluted Earnings Per Share - Continuing operations 31 32.98 17.89
(b) Basic & Diluted Earnings Per Share - Discontinued operations 31 - 0.68
(c) Basic & Diluted Earnings Per Share - (Continuing & discontinued 31
operations) 32.98 18.57
The accompanying notes are an integral part of the standalone financial statements


(` in Crores)
306
Reserves and Surplus Other comprehensive income
Equity Securities General Capital Debenture Retained Cash Flow Equity Instruments Total
Premium Reserves Redemption Redemption earnings Hedge through Other Total
Share Other
(See Note (See Note Reserve Reserve Reserve Comprehensive Equity
Capital Equity
13(a)) 13 (d)) (See Note (See Note Income (See Note
13(b)(i)) 13(b)(ii)) 13e(i))
As at 1 April 2021 111.69 643.22 1273.54 100.00 - 1437.04 (0.42) 98.75 3552.13 3663.82
Changes in accounting policy or
prior period errors - - - - - - - - - -
Balance as at 1 April 2021 111.69 643.22 1273.54 100.00 - 1437.04 (0.42) 98.75 3552.13 3663.82
Profit for the year - - - - - 207.33 - - 207.33 207.33
Other comprehensive income - - - - - 0.63 0.42 58.06 59.11 59.11
Total comprehensive income for
the year - - - - - 207.96 0.42 58.06 266.44 266.44

Dividend paid on equity shares

(See Note 13 (c)) - - - - - (11.17) - - (11.17) (11.17)
As at 31 March 2022 111.69 643.22 1273.54 100.00 - 1633.83 - 156.81 3807.40 3919.09
Changes in accounting policy or
prior period errors - - - - - - - - - -
Balance as at 31 March 2022 111.69 643.22 1273.54 100.00 - 1633.83 - 156.81 3807.40 3919.09
Profit for the year - - - - - 368.31 - - 368.31 368.31
Other comprehensive income /
(loss) - - - - - 1.19 - (59.37) (58.18) (58.18)
Total comprehensive income /
(loss) for the year - - - - - 369.50 - (59.37) 310.13 310.13
(See Note 13 (c)) - - - - - (44.68) - - (44.68) (44.68)
As at 31 March 2023 111.69 643.22 1273.54 100.00 - 1958.65 - 97.44 4072.85 4184.54

STANDALONE STATEMENT OF CHANGES IN EQUITY


STANDALONE CASH FLOW STATEMENT

(` in Crores)
Year Ended Year Ended
Particulars
31 March 2023 31 March 2022
A. CASH FLOW FROM OPERATING ACTIVITIES
NET PROFIT BEFORE TAX FROM CONTINUING OPERATIONS 529.66 301.65
NET PROFIT BEFORE TAX FROM DISCONTINUED OPERATIONS - 10.59
Add / (Less) :
Depreciation on property plant and equipments 188.27 192.71
Depreciation on investment property 32.49 33.54
Amortisation on intangible assets 2.04 1.80
Loss/(gain) on sale of property plant and equipments and investment
properties (0.81) 0.67
Allowance for credit loss 17.64 1.60
Unrealized exchange (gain) / loss (0.85) 0.04
Interest income (40.12) (34.53)
Profit on transfer of leasehold land (134.21) -
Provision for interest written back - (11.37)
Proceeds from sale of Century Yarn & Denim division (net of expenses on
sale) - (49.22)
Interest expense 89.19 75.03
Liabilities written back (8.21) (12.41)
Dividend on investments (4.69) (3.26)
140.74 194.60
Working capital adjustments
Decrease / (increase) in inventory (379.42) (501.64)
Decrease / (increase) in trade receivables 44.67 (59.29)
Decrease / (increase) in other financial assets 35.76 3.90
Decrease / (increase) in other assets (32.48) (71.51)
(Decrease) / increase in other financial liabilities 26.99 22.49
(Decrease) / increase in trade payables (102.20) 220.97
(Decrease) / increase in provisions 0.55 (14.83)
(Decrease) / increase in other liabilities 333.15 100.47
Decrease / (increase) in other bank balance (41.91) (5.52)
(114.89) (304.96)
Cash generated from operations 555.51 201.88
Add / (Less) :
Direct tax paid (excluding tax on transfer of leasehold land amounting
to ` 25.64 Crores) (71.71) (55.79)
NET CASH GENERATED FROM OPERATING ACTIVITIES 483.80 146.09
B. CASH FLOW FROM INVESTING ACTIVITIES
Purchase of property plant and equipments, investment properties and
intangible assets (105.30) (124.55)
Proceeds from sale of property plant and equipments and investment
properties 3.25 2.55
Interest received (finance income) 37.43 39.93
(Purchase) / sale of investments (net) 130.21 (98.41)
Investment in joint venture (10.00) (15.00)
Investment in subsidiary - (32.95)
Proceeds from sale of Century Yarn & Denim division (net of disposal cost) - 49.22
Proceeds from transfer of leasehold land (net of expenses towards transfer
and tax amounting to ` 25.64 Crores) 131.05 -
Dividend on investments 4.69 3.26
Loans given to subsidiary (net) (224.00) (50.15)
NET CASH FLOWS USED IN INVESTING ACTIVITIES (32.67) (226.10)

STANDALONE CASH FLOW STATEMENT (Contd.)

(` in Crores)
Particulars
31 March 2023 31 March 2022
C. CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from borrowings 400.00 300.00
Repayment of borrowings (575.31) (396.37)
Net proceeds / (repayment) of short term borrowings (248.27) 311.08
Dividend paid (44.84) (11.48)
Lease liability paid (4.06) (4.43)
Interest paid (106.34) (106.52)
NET CASH FLOWS FROM / (USED IN) FINANCING ACTIVITIES (578.82) 92.28
NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS (127.69) 12.27
Cash and cash equivalents at the beginning of the year 17.38 5.11
Cash and cash equivalents at the year end - (Refer note below) (110.31) 17.38
As at As at
Particulars
31 March 2023 31 March 2022
Reconciliation of cash and cash equivalents as per the cash flow statement
Cash and cash equivalents as per the above comprise of the following
Cash and cash equivalents - (Refer note 11) 23.38 17.88
Cash credit and overdraft facilities from banks - (Refer note 18) (133.69) (0.50)
Balance as per cash flow statement (110.31) 17.38


NOTES TO STANDALONE FINANCIAL STATEMENTS

1. Corporate information • It is expected to be settled in normal operating

Century Textiles & Industries Limited is a public cycle
company domiciled in India and is incorporated under • It is held primarily for the purpose of trading
the provisions of the Companies Act, applicable in • It is due to be settled within twelve months after
India. The principal place of business of the company the reporting period, or
is located at Century Bhawan, Dr. A. B. Road, Worli,
• There is no unconditional right to defer the
Mumbai. The Company is principally engaged in
settlement of the liability for at least twelve
manufacturing of Textiles, Cement, Pulp and Paper
months after the reporting period.
and Real estate.
The Company classifies all other liabilities as non-
The financial statements were approved for issue in
current.
accordance with a resolution of the board of directors
on 24 April 2023. Deferred tax assets and liabilities are classified as non-
current assets and liabilities. The operating cycle is the
2A. Significant Accounting Policies time between the acquisition of assets for processing
and their realisation in cash and cash equivalents. The
2.1 Basis of preparation Company has identified twelve months as its operating
The standalone financial statements of the company cycle.
have been prepared in accordance with Indian The normal operating cycle of the Company depends
Accounting Standards (Ind AS) notified under the on signing of agreement, size of the project, phasing of
Companies (Indian Accounting Standards) Rules, the project, type of development, project complexities,
2015 (as amended from time to time). approvals needed and realisation of project into cash
The separate financial statements have been prepared and cash equivalents and range from 3 to 7 years.
on a historical cost basis, except for the following Accordingly, project related assets and liabilities have
assets and liabilities which have been measured at fair been classified into current and non-current based on
value amount: operating cycle of respective projects. All other assets
and liabilities have been classified into current and
• Derivative financial instruments,
non-current based on a period of twelve months.
• Certain financial assets and liabilities measured
at fair value (refer accounting policy regarding 2.3 Fair value measurement
financial instruments),
The company measures financial instruments, such
• Non-cash distribution liability as derivatives, investments etc, at fair value at each
The financial statements are presented in INR and balance sheet date. Fair value is the price that would
all values are rounded to the nearest crores (INR be received to sell an asset or paid to transfer a liability
00,00,000), except when otherwise indicated. in an orderly transaction between market participants
at the measurement date. The fair value measurement
2.2 Current versus non-current classification is based on the presumption that the transaction to
The Company presents assets and liabilities in sell the asset or transfer the liability takes place either:
the balance sheet based on current/ non-current • In the principal market for the asset or liability, or
classification. An asset is treated as current when it is: • In the absence of a principal market, in the most
• Expected to be realised or intended to be sold or advantageous market for the asset or liability
consumed in normal operating cycle The principal or the most advantageous market must
• Held primarily for the purpose of trading be accessible by the Company. The fair value of an
• Expected to be realised within twelve months asset or a liability is measured using the assumptions
after the reporting period, or that market participants would use when pricing the
asset or liability, assuming that market participants
• Cash or cash equivalent unless restricted from
act in their economic best interest.
being exchanged or used to settle a liability for at
least twelve months after the reporting period A fair value measurement of a non-financial asset
takes into account a market participant’s ability to
All other assets are classified as non-current.
generate economic benefits by using the asset in its
A liability is current when:
highest and best use or by selling it to another market

NOTES TO STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
participant that would use the asset in its highest and Sale of Goods
best use. Revenue from sale of goods is recognised at the point
The Company uses valuation techniques that are in time when control of the asset is transferred to
appropriate in the circumstances and for which the customer, generally on delivery of the goods The
sufficient data are available to measure fair value, Company considers whether there are other promises
maximising the use of relevant observable inputs and in the contract that are separate performance
minimising the use of unobservable inputs. obligations to which a portion of the transaction price
All assets and liabilities for which fair value is needs to be allocated in determining the transaction
measured or disclosed in the financial statements are price for the sale of goods, the Company considers the
categorised within the fair value hierarchy, described effects of variable consideration, and consideration
as follows, based on the lowest level input that is payable to the customer (if any).
significant to the fair value measurement as a whole:
Sale of real estate units
• Level 1 — Quoted (unadjusted) market prices in
active markets for identical assets or liabilities Revenue is recognized upon transfer of control of
residential units or service to customers, in an amount
• Level 2 — Valuation techniques for which the
that reflects the consideration the Company expects
lowest level input that is significant to the fair
to receive in exchange for those residential units. The
value measurement is directly or indirectly
Company determines the performance obligations
observable
associated with the contract with customers at
• Level 3 — Valuation techniques for which the contract inception and also determine whether they
lowest level input that is significant to the fair satisfy the performance obligation over time or at a
value measurement is unobservable. point in time. In case of residential units, the Company
For assets and liabilities that are recognised in the satisfies the performance obligation and recognises
financial statements on a recurring basis, the Company revenue at a point in time i.e., upon completion and
determines whether transfers have occurred between delivery of possession of the residential units to the
levels in the hierarchy by re-assessing categorisation customers as per the agreement.
(based on the lowest level input that is significant to To estimate the transaction price in a contract,
the fair value measurement as a whole) at the end of the Company adjusts the promised amount of
each reporting period. consideration for the time value of money if that
For the purpose of fair value disclosures, the Company contract contains a significant financing component.
has determined classes of assets and liabilities on the The Company when adjusting the promised amount
basis of the nature, characteristics and risks of the of consideration for a significant financing component
asset or liability and the level of the fair value hierarchy is to recognise revenue at an amount that reflects the
as explained above. cash selling price of the transferred residential unit.
This note summarises accounting policy for fair value.
Other fair value related disclosures are given in the Variable Consideration
relevant notes. If the consideration in a contract includes a variable
amount, the Company estimates the amount of
2.4 Revenue from contract with customer consideration to which it will be entitled in exchange
Revenue from contracts with customers is recognised for transferring the goods to the customer. The
when control of the goods or services are transferred variable consideration is estimated at contract
to the customer at an amount that reflects the inception and constrained until it is highly probable
consideration to which the Company expects to be that a significant revenue reversal in the amount of
entitled in exchange for those goods or services. cumulative revenue recognised will not occur when the
The Company has generally concluded that it is associated uncertainty with the variable consideration
the principal in its revenue arrangements, because is subsequently resolved. Some contracts for the sale
it typically controls the goods or services before provide customers with discounts. The discounts give
transferring them to the customer. rise to variable consideration.

Discounts 2.5 Government grants

Discounts includes target and growth rebates, price Government grants are recognised where there is
reductions, incentives to customers or retailers. To reasonable assurance that the grant will be received
estimate the amount of discount, the company applies and all attached conditions will be complied with. When
accumulated experience using the most likely method. the grant relates to an expense item, it is recognised as
The Company determines that the estimates of income on a systematic basis over the periods that the
discounts are not constrained based on its historical related costs, for which it is intended to compensate,
experience, business forecast and the current are expensed. When the grant relates to an asset, it
economic conditions. The Company then applies the is recognised as income in equal amounts over the
requirements on constraining estimates of variable expected useful life of the related asset.
consideration and recognises a refund liability for the
When the Company receives grants of non-monetary
expected discount. No element of financing is deemed
assets, the asset and the grant are recorded at fair
present as the sales are made with credit terms largely
value amounts and released to profit or loss over the
ranging between 7 days to 120 days.
expected useful life in a pattern of consumption of
Contract balances the benefit of the underlying asset i.e. by equal annual
instalments.
Contract assets Government grants such as sales tax incentive, export
A contract asset is the right to consideration in benefit schemes are recognized in the Statement of
exchange for goods or services transferred to the Profit and Loss as a part of other operating revenues
customer. If the Company performs by transferring whereas grants related to royalty, power incentives
goods or services to a customer before the customer and interest subsidies are netted of from the related
pays consideration or before payment is due, a contract expense.
asset is recognised for the earned consideration that is
conditional. 2.6 Taxes
Trade receivables Current tax

A receivable represents the Company’s right to an Current income tax assets and liabilities are measured
amount of consideration that is unconditional (i.e., only at the amount expected to be recovered from or paid
the passage of time is required before payment of the to the taxation authorities. The tax rates and tax
consideration is due). laws used to compute the amount are those that are
enacted by the end of the reporting period.
Contract liabilities Current income tax relating to items recognised
A contract liability is the obligation to transfer goods outside profit or loss is recognised outside profit or
or services to a customer for which the Company has loss (i.e in other comprehensive income ). Current tax
received consideration (or an amount of consideration items are recognised in correlation to the underlying
is due) from the customer. If a customer pays transaction either in OCI or directly in equity.
consideration before the Company transfers goods Management periodically evaluates positions taken
or services to the customer, a contract liability is in the tax returns with respect to situations in which
recognised when the payment is made or the payment applicable tax regulations are subject to interpretation
is due (whichever is earlier). Contract liabilities are and establishes provisions where appropriate.
recognised as revenue when the Company performs
under the contract Deferred tax
Deferred tax is provided using the liability method on
Refund liabilities
temporary differences between the tax bases of assets
A refund liability is the obligation to refund some or
and liabilities and their carrying amounts for financial
all of the consideration received (or receivable) from
reporting purposes at the reporting date. Deferred
the customer and is measured at the amount the
tax is recognised on temporary differences between
Company ultimately expects it will have to return to
the carrying amounts of assets and liabilities in the
the customer. The Company updates its estimates of
financial statements and the corresponding tax bases
refund liabilities (and the corresponding change in the
used in the computation of taxable profit. Deferred
transaction price) at the end of each reporting period.

tax liabilities are recognised for all taxable temporary concerned company will pay normal income tax during
differences. Deferred tax assets are generally the specified period, i.e., the period for which MAT
recognised for all deductible temporary differences to credit is allowed to be carried forward. In the year in
the extent that it is probable that taxable profits will which the company recognizes MAT credit as an asset,
be available against which those deductible temporary it is created by way of credit to the statement of profit
differences can be utilised. Such deferred tax assets and loss as credit in current tax expense and shown as
and liabilities are not recognised if the temporary part of deferred tax asset. The company reviews the
difference arises from the initial recognition of assets “MAT credit entitlement” asset at each reporting date
and liabilities in a transaction that affects neither the and writes down the asset to the extent that it is no
taxable profit nor the accounting profit. longer probable that it will pay normal tax during the
The carrying amount of deferred tax assets is reviewed specified period
at the end of each reporting period and reduced to
GST paid on acquisition of assets or on incurring
the extent that it is no longer probable that sufficient
expenses
taxable profits will be available to allow all or part of the
asset to be utilised. Expenses and assets are recognised net of the amount
of GST paid, except:
Unrecognised deferred tax assets are re-assessed at
each reporting date and are recognised to the extent - When the tax incurred on a purchase of assets
that it has become probable that future taxable profits or services is not recoverable from the taxation
will allow the deferred tax asset to be recovered. authority, in which case, the tax paid is recognized
Deferred tax liabilities and assets are measured at the as part of the cost of acquisition of the asset or as
tax rates that are expected to apply in the period in part of the expense item, as applicable
which the liability is settled or the asset realised, based - When receivables and payables are stated with
on tax rates (and tax laws) that have been enacted the amount of tax included
or substantively enacted by the end of the reporting The net amount of tax recoverable from, or payable to,
period. the taxation authority is included as part of receivables
Deferred tax relating to items recognised outside profit or payables in the balance sheet.
or loss is recognised outside profit or loss (either in
other comprehensive income or in equity). Deferred tax 2.7 Property, plant and equipments
items are recognised in correlation to the underlying Capital work in progress is stated at cost, net of
transaction in OCI. accumulated impairment loss, if any. Plant and
The measurement of deferred tax liabilities and assets equipment is stated at cost, net of accumulated
reflects the tax consequences that would follow from depreciation and accumulated impairment losses,
the manner in which the Company expects, at the end if any. Such cost includes the cost of replacing part
of the reporting period, to recover or settle the carrying of the plant and equipment and borrowing costs for
amount of its assets and liabilities. long-term construction projects if the recognition
criteria are met. When significant parts of plant and
Current and deferred tax for the year equipment are required to be replaced at intervals, the
Company depreciates them separately based on their
Current and deferred tax are recognised in profit
specific useful lives. Likewise, when a major inspection
or loss, except when they relate to items that are
is performed, its cost is recognised in the carrying
recognised in other comprehensive income or directly
amount of the plant and equipment as a replacement
in equity, in which case, the current and deferred tax
if the recognition criteria are satisfied. All other repair
are also recognised in other comprehensive income or
and maintenance costs are recognised in profit or loss
directly in equity respectively.
as incurred.
Minimum Alternate Tax (MAT) Depreciation is recognised so as to amortise the cost of
Minimum alternate tax (MAT) paid in a year is charged assets (other than freehold land and properties under
to the statement of profit and loss as current tax for construction) less their residual values over their useful
the year. lives, using the straight-line method. The estimated
useful lives, residual values and depreciation method
The deferred tax asset is recognised for MAT credit
are reviewed at the end of each reporting period, with
available only to the extent that it is probable that the

the effect of any changes in estimate accounted for on of the investment property are required to be replaced
a prospective basis. at intervals, the company depreciates them separately
Depreciation is calculated on a straight-line basis over based on their specific useful lives. All other repair and
the estimated useful lives of the assets as follows: maintenance costs are recognised in profit or loss as
incurred.
Asset class Useful life
The company, based on technical assessment
Buildings 30 years – 60 years
made by management, depreciates the building over
Plant and equipments 3 years – 25 years
estimated useful lives of 40 years. The management
Electric installations 3 years – 10 years believes that these estimated useful lives are realistic
Furniture & fixtures 3- 10 years and reflect fair approximation of the period over which
Office equipments 3-10 years the assets are likely to be used.
Vehicles 5 -10 years Though the Company measures investment property
The management has estimated the above useful life using cost based measurement, the fair value of
and the same is supported by technical expert. investment property is disclosed in notes. Fair value are
determined based on an annual evaluation performed
Refer Note 2.11 on Accounting of leases as per Ind As
by an accredited external independent valuer.
116 applied from April 1, 2019 for right of use.
An item of property, plant and equipment is 2.10 Non-current assets held for sale / distribution to
derecognised upon disposal or when no future owners and discontinued operations
economic benefits are expected to arise from the
The Company classifies non-current assets and
continued use of the asset. Any gain or loss arising
disposal company as held for sale/distribution if their
on the disposal or retirement of an item of property,
carrying amounts will be recovered principally through
plant and equipment is determined as the difference
a sale/distribution rather than through continuing use.
between the sales proceeds and the carrying amount
Actions required to complete the sale/distribution
of the asset and is recognised in profit or loss.
should indicate that it is unlikely that significant
changes to the sale will be made or that the decision
2.8 Intangible Assets
to sell will be withdrawn. Management must be
Intangible assets with finite useful lives that
committed to the sale/distribution expected within
are acquired separately are carried at cost less
one year from the date of classification.
accumulated amortisation and accumulated
For these purposes, sale transactions include
impairment losses. Amortisation is recognised on a
exchanges of non-current assets for other non-current
straight-line basis over their estimated useful lives.
assets when the exchange has commercial substance.
The estimated useful life and amortisation method are
The criteria for held for sale/distribution classification
reviewed at the end of each reporting period, with the
is regarded met only when the assets or disposal
effect of any changes in estimate being accounted for
company is available for immediate sale/distribution
on a prospective basis. Cost of software capitalised is
in its present condition, subject only to terms that are
amortised over its useful life which is estimated to be
usual and customary for sales/distribution of such
a period of five years.
assets (or disposal company), its sale/distribution
2.9 Investment properties is highly probable; and it will genuinely be sold, not
abandoned. The Company treats sale/distribution of
Investment properties are properties held to earn
the asset or disposal company to be highly probable
rentals and/or for capital appreciation (including
when:
property under construction for such purposes).
Investment properties are measured initially at cost, • The appropriate level of management is
including transaction costs. Subsequent to initial committed to a plan to sell the asset (or disposal
recognition, investment properties are stated at cost company),
less accumulated depreciation and impairment losses, • An active programme to locate a buyer and
if any. complete the plan has been initiated (if applicable),
The cost includes the cost of replacing parts and • The asset (or disposal company) is being actively
borrowing costs for long-term construction projects if marketed for sale at a price that is reasonable in
the recognition criteria are met. When significant parts relation to its current fair value,

• The sale is expected to qualify for recognition as of-use assets are measured at cost, less any
a completed sale within one year from the date of accumulated depreciation and impairment
classification and losses, and adjusted for any remeasurement of
• Actions required to complete the plan indicate lease liabilities. The cost of right-of-use assets
that it is unlikely that significant changes to includes the amount of lease liabilities recognised,
the plan will be made or that the plan will be initial direct costs incurred, lease payments made
withdrawn. at or before the commencement date less any
Non-current assets held for sale/ for distribution to lease incentives received and estimate of costs to
owners and disposal company are measured at the dismantle. Right-of-use assets are depreciated
lower of their carrying amount and the fair value less on a straight-line basis over the shorter of the
costs to sell/ distribute. Assets and liabilities classified lease term and the estimated useful lives of the
as held for sale/distribution are presented separately assets.
in the balance sheet. The Company presents right-to-use assets
Property, plant and equipment and intangible assets within the same line item as that within which
once classified as held for sale/distribution are not the corresponding underlying assets would be
depreciated or amortised. presented if they were owned by the Company.
A disposal company qualifies as discontinued

ii) Lease liabilities
operation if it is a component of an entity that either
has been disposed of, or is classified as held for sale, At the commencement date of the lease, the
and: Company recognises lease liabilities measured at
the present value of lease payments to be made
• Represents a separate major line of business or
over the lease term. In calculating the present
geographical area of operations,
value of lease payments, the Company generally
• Is part of a single co-ordinated plan to dispose of uses its incremental borrowing rate at the lease
a separate major line of business or geographical
commencement date if the discount rate implicit
area of operations.
in the lease is not readily determinable.
Discontinued operations are excluded from the results
After the commencement date, the amount of
of continuing operations and are presented as a single
lease liabilities is increased to reflect the accretion
amount as profit or loss after tax from discontinued
of interest and reduced for the lease payments
operations in the statement of profit and loss.
made. The carrying amount is remeasured when
Additional disclosures are provided in Note 35. All there is a change in future lease payments arising
other notes to the financial statements mainly include from a change in index or rate. In addition, the
amounts for continuing operations, unless otherwise carrying amount of lease liabilities is remeasured
mentioned. if there is a modification, a change in the lease
term, a change in the lease payments or a change
2.11 Leases
in the assessment of an option to purchase the
At inception of contract, the Company assesses underlying asset.
whether the Contract is, or contains, a lease. A contract
The Company presents lease liabilities under
is, or contains, a lease if the contract conveys the right
financial liabilities in the Balance Sheet.
to control the use of an identified asset for a period
of time in exchange for consideration. At inception or
iii) Short term leases and leases of low value of
on reassessment of a contract that contains a lease
assets
component, the Company allocates consideration in
The Company applies the short-term lease
the contract to each lease component on the basis of
recognition exemption to its short-term leases.
their relative standalone price.
It also applies the lease of low-value assets
As a lessee recognition exemption that are considered to be
low value. Lease payments on short-term leases
i) Right-of-use assets and leases of low value assets are recognised as
The Company recognises right-of-use assets expense on a straight-line basis over the lease
at the commencement date of the lease. Right- term.

As a lessor Net realisable value is the estimated selling price in

Leases in which the Company does not transfer the ordinary course of business, less estimated costs
substantially all the risks and rewards of ownership of completion and the estimated costs necessary to
of an asset are classified as operating leases. Rental make the sale.
income from operating lease is recognised on a
straight-line basis over the term of the relevant lease. 2.14 Impairment of non-financial assets
Initial direct costs incurred in negotiating and arranging The Company assesses, at each reporting date,
an operating lease are added to the carrying amount of whether there is an indication that an asset may be
the leased asset and recognised over the lease term impaired. If any indication exists, or when annual
on the same basis as rental income. Contingent rents impairment testing for an asset is required, the
are recognised as revenue in the period in which they Company estimates the asset’s recoverable amount.
are earned. An asset’s recoverable amount is the higher of an
Leases are classified as finance leases when asset’s or cash-generating units (CGU) fair value less
substantially all of the risks and rewards of ownership costs of disposal and its value in use. Recoverable
transfer from the Company to the lessee. Amounts amount is determined for an individual asset, unless
due from lessees under finance leases are recorded the asset does not generate cash inflows that are
as receivables at the Company’s net investment largely independent of those from other assets or
in the leases. Finance lease income is allocated to company of assets. When the carrying amount of an
accounting periods so as to reflect a constant periodic asset or CGU exceeds its recoverable amount, the
rate of return on the net investment outstanding in asset is considered impaired and is written down to its
respect of the lease. recoverable amount.
In assessing value in use, the estimated future cash
2.12 Borrowing costs flows are discounted to their present value using a
Borrowing costs directly attributable to the acquisition, pre-tax discount rate that reflects current market
construction or production of an asset that necessarily assessments of the time value of money and the risks
takes a substantial period of time to get ready for its specific to the asset. In determining fair value less
intended use or sale are capitalised as part of the cost costs of disposal, recent market transactions are taken
of the asset. Borrowing cost also includes exchange into account. If no such transactions can be identified,
differences to the extent regarded as an adjustment to an appropriate valuation model is used. These
the borrowing costs. calculations are corroborated by valuation multiples,
quoted share prices for publicly traded companies or
2.13 Inventories other available fair value indicators.
Inventories are valued at the lower of cost and net The Company bases its impairment calculation on
realisable value. detailed budgets and forecast calculations, which
Costs incurred in bringing each product to its present are prepared separately for each of the Company’s
location and condition are accounted for as follows: CGUs to which the individual assets are allocated.
These budgets and forecast calculations generally
• Raw materials: cost includes cost of purchase and
cover a period of five years. For longer periods, a long-
other costs incurred in bringing the inventories
term growth rate is calculated and applied to project
to their present location and condition. Cost is
future cash flows after the fifth year. To estimate cash
determined on weighted average cost basis.
flow projections beyond periods covered by the most
• Finished goods and work in progress: cost recent budgets/forecasts, the Company extrapolates
includes cost of direct materials and labour and cash flow projections in the budget using a steady or
a proportion of manufacturing overheads based declining growth rate for subsequent years, unless
on the normal operating capacity, but excluding an increasing rate can be justified. In any case, this
borrowing costs. Cost is determined on weighted growth rate does not exceed the long-term average
average cost basis. growth rate for the products, industries, or country
• Traded goods: cost includes cost of purchase and or countries in which the entity operates, or for the
other costs incurred in bringing the inventories market in which the asset is used.
to their present location and condition. Cost is Impairment loss of continuing operations, including
determined on weighted average basis.

impairment on inventories is recognised in the deposits, as defined above, net of outstanding bank
statement of profit and loss. overdrafts as they are considered an integral part of
the Company’s cash management.
2.15 Provisions
Provisions are recognised when the company has a 2.17 Employee Benefits
present obligation (legal or constructive) as a result of
a past event, it is probable that the company will be Defined Contribution plans
required to settle the obligation, and a reliable estimate For certain employees of the Company, employee
can be made of the amount of the obligation. benefit in the form of Provident fund, Employees State
The amount recognised as a provision is the best Insurance Contribution and Labour Welfare fund are
estimate of the consideration required to settle the defined contribution plans. The Company has no
present obligation at the end of the reporting period, obligation, other than the contribution payable to the
taking into account the risks and uncertainties respective fund. The Company recognizes contribution
surrounding the obligation. When a provision is payable to the provident fund scheme as an expense,
measured using the cash flows estimated to settle the when an employee renders the related service. If
present obligation, its carrying amount is the present the contribution payable to the scheme for service
value of those cash flows (when the effect of the time received before the balance sheet date exceeds the
value of money is material). contribution already paid, the deficit payable to the
scheme is recognized as a liability after deducting
When some or all of the economic benefits required to
the contribution already paid. If the contribution
settle a provision are expected to be recovered from a
already paid exceeds the contribution due for services
third party, a receivable is recognised as an asset if it
received before the balance sheet date, then excess
is virtually certain that reimbursement will be received
is recognized as an asset to the extent that the pre-
and the amount of the receivable can be measured
payment will lead to, for example, a reduction in future
reliably.
payment or a cash refund.
Onerous contracts
Defined benefit plans
If the Company has a contract that is onerous, the
The Company provides for retirement benefit in the
present obligation under the contract is recognised and
form of gratuity. The Company’s liability towards
measured as a provision. However, before a separate
this benefit is determined on the basis of actuarial
provision for an onerous contract is established, the
valuation using Projected Unit Credit Method at the
Company recognises any impairment loss that has
date of balance sheet.
occurred on assets dedicated to that contract.
In respect of certain employees, provident fund
An onerous contract is a contract under which the
contributions are made to a trust administered by
unavoidable costs (i.e., the costs that the Company
the Company. Periodic contributions to the Fund
cannot avoid because it has the contract) of meeting
are charged to the Statement of profit and loss. The
the obligations under the contract exceed the
Company has an obligation to make good the shortfall,
economic benefits expected to be received under it.
if any, between the return from the investment of the
The unavoidable costs under a contract reflect the
trust and interest rate notified by the Government of
least net cost of exiting from the contract, which is the
India. Such shortfall is recognized in the Statement of
lower of the cost of fulfilling it and any compensation
profit and loss. The Company’s liability is determined
or penalties arising from failure to fulfil it
on the basis of an actuarial valuation using the
projected unit credit method.
2.16 Cash and cash equivalents
Remeasurement, comprising of actuarial gains and
Cash and cash equivalent in the balance sheet
losses, the effect of the asset ceiling, excluding
comprise cash at banks and on hand and short-term
amounts included in net interest on the net defined
deposits with an original maturity of three months
benefit liability and the return on plan assets (excluding
or less, which are subject to an insignificant risk of
amounts included in net interest on the net defined
changes in value.
benefit liability), are recognised immediately in the
For the purpose of the statement of cash flows, cash balance sheet with a corresponding debit or credit to
and cash equivalents consist of cash and short-term retained earnings through OCI in the period in which

they occur. Remeasurement is not reclassified to 2.19 Foreign currencies

profit or loss in subsequent periods. The Company’s financial statements are presented in
Past service costs are recognised in profit or loss on INR, which is also the Company’s functional currency.
the earlier of: Transactions in foreign currencies are initially
• The date of the plan amendment or curtailment recorded by the Company at INR spot rate at the date,
and the transaction first qualifies for recognition. Monetary
• The date that the Company recognises related assets and liabilities denominated in foreign currencies
restructuring costs are translated at the functional currency spot rates of
exchange at the reporting date.
Net interest is calculated by applying the discount
rate to the net defined benefit liability or asset. The Exchange differences arising on settlement or
Company recognises the following changes in the net translation of monetary items are recognised in profit
defined benefit obligation as an expense in statement or loss.
of profit and loss: Non-monetary items that are measured in terms of
• Service costs comprising current service historical cost in a foreign currency are translated
costs, past-service costs, gains and losses on using the exchange rates at the dates of the initial
curtailments and non-routine settlements; and transactions.
• Net interest expense or income

2.20 Financial instruments
Compensated absences A financial instrument is any contract that gives rise to

a financial asset of one entity and a financial liability or
Accumulated leave, which is expected to be utilized
equity instrument of another entity.
within the next 12 months, is treated as short-term
employee benefit and this is shown under current
Financial assets
provision in the Balance Sheet. The Company
measures the expected cost of such absences as the Initial recognition and measurement
additional amount that it expects to pay as a result of
All financial assets are recognised initially at fair value
the unused entitlement that has accumulated at the
plus, in the case of financial assets not recorded at fair
reporting date.
value through profit or loss, transaction costs that are
The Company treats accumulated leave expected to be attributable to the acquisition of the financial asset.
carried forward beyond twelve months, as long-term
employee benefit for measurement purposes and this Subsequent measurement
is shown under long term provisions in the Balance
For purposes of subsequent measurement, financial
Sheet. Such long-term compensated absences are
assets are classified in four categories:
provided for based on the actuarial valuation using the
• Financial Assets at amortised cost
projected unit credit method at the year-end. Actuarial
gains/losses are immediately taken to the Statement • Financial Assets at fair value through other
of Profit and Loss and are not deferred. The Company comprehensive income (FVTOCI)
presents the leave as a current liability in the balance • Financial Assets including derivatives and equity
sheet, to the extent it does not have an unconditional instruments at fair value through profit or loss
right to defer its settlement for 12 months after (FVTPL)
the reporting date. Where the Company has the • Equity instruments measured at fair value
unconditional legal and contractual right to defer the through other comprehensive income (FVTOCI)
settlement for a period beyond 12 months, the same is
presented as non-current liability. Debt instruments at amortised cost
A ‘debt instrument’ is measured at the amortised cost
2.18 Research and Development
if both the following conditions are met:
Research expenditure, including overheads, on
a) The asset is held within a business model
research and development, is charged as an expense
whose objective is to hold assets for collecting
in the year in which incurred.
contractual cash flows, and

b) Contractual terms of the asset give rise on substantially all of the risks and rewards of the asset,
specified dates to cash flows that are solely nor transferred control of the asset, the Company
payments of principal and interest (SPPI) on the continues to recognise the transferred asset to the
principal amount outstanding. extent of the Company’s continuing involvement. In
After initial measurement, such financial assets are that case, the Company also recognises an associated
subsequently measured at amortised cost using the liability. The transferred asset and the associated
effective interest rate (EIR) method. Amortised cost liability are measured on a basis that reflects the rights
is calculated by taking into account any discount and obligations that the Company has retained.
or premium on acquisition and fees or costs that Continuing involvement that takes the form of a
are an integral part of the EIR. The EIR amortisation guarantee over the transferred asset is measured at
is included in other income in the profit or loss. The the lower of the original carrying amount of the asset
losses arising from impairment are recognised in the and the maximum amount of consideration that the
profit or loss. This category generally applies to trade Company could be required to repay.
and other receivables, loans and other financial assets.
Impairment of financial assets
Equity investments In accordance with Ind AS 109, the Company applies
All equity investments in scope of Ind AS 109 are expected credit loss (ECL) model for measurement
measured at fair value. For all equity instruments, the and recognition of impairment loss on the following
Company may make an irrevocable election to present financial assets and credit risk exposure:
in other comprehensive income subsequent changes a) Financial assets that are debt instruments, and
in the fair value all fair value changes on the instrument, are measured at amortised cost e.g., loans, debt
excluding dividends, are recognized in the OCI. There securities, deposits, trade receivables and bank
is no recycling of the amounts from OCI to P&L, even balance
on sale of investment. However, the Company may
b) Financial assets that are equity instruments and
transfer the cumulative gain or loss within equity. The
are measured as at FVTOCI
Company has made such election on an instrument-
by-instrument basis. The classification is made on c) Lease receivables under Ind AS 116
initial recognition and is irrevocable. d) Trade receivables or any contractual right to
receive cash or another financial asset that result
Derecognition from transactions that are within the scope of Ind
A financial asset (or, where applicable, a part of a AS 115
financial asset or part of a company of similar financial The Company follows ‘simplified approach’ for
assets) is primarily derecognised when: recognition of impairment loss allowance on:
• The rights to receive cash flows from the asset • Trade receivables
have expired or • All lease receivables resulting from transactions
• The Company has transferred its rights to receive within the scope of Ind AS 116
cash flows from the asset or has assumed an The application of simplified approach does not
obligation to pay the received cash flows in full require the Company to track changes in credit risk.
without material delay to a third party under a Rather, it recognises impairment loss allowance based
‘pass-through’ arrangement; and either (a) the on lifetime ECLs at each reporting date, right from its
Company has transferred substantially all the initial recognition.
risks and rewards of the asset, or (b) the Company
For recognition of impairment loss on other financial
has neither transferred nor retained substantially
assets and risk exposure, the company determines
all the risks and rewards of the asset, but has
that whether there has been a significant increase in
transferred control of the asset.
the credit risk since initial recognition. If credit risk has
When the Company has transferred its rights to not increased significantly, 12-month ECL is used to
receive cash flows from an asset or has entered into provide for impairment loss. However, if credit risk
a pass-through arrangement, it evaluates if and to has increased significantly, lifetime ECL is used. If, in
what extent it has retained the risks and rewards of a subsequent period, credit quality of the instrument
ownership. When it has neither transferred nor retained improves such that there is no longer a significant

increase in credit risk since initial recognition, then • Loan commitments and financial guarantee
the entity reverts to recognising impairment loss contracts: ECL is presented as a provision in the
allowance based on 12-month ECL. balance sheet, i.e. as a liability.
Lifetime ECL are the expected credit losses resulting • Equity instruments measured at FVTOCI: Since
from all possible default events over the expected financial assets are already reflected at fair value,
life of a financial instrument. The 12-month ECL is a impairment allowance is not further reduced
portion of the lifetime ECL which results from default from its value. Rather, ECL amount is presented
events that are possible within 12 months after the as ‘accumulated impairment amount’ in the OCI.
reporting date. For assessing increase in credit risk and impairment
ECL is the difference between all contractual cash loss, the Company combines financial instruments on
flows that are due to the company in accordance the basis of shared credit risk characteristics with the
with the contract and all the cash flows that the entity objective of facilitating an analysis that is designed
expects to receive (i.e., all cash shortfalls), discounted to enable significant increases in credit risk to be
at the original EIR. When estimating the cash flows, an identified on a timely basis.
entity is required to consider: The Company does not have any purchased or
• All contractual terms of the financial instrument originated credit-impaired (POCI) financial assets,
(including prepayment, extension, call and similar i.e., financial assets which are credit impaired on
options) over the expected life of the financial purchase/ origination.
instrument. However, in rare cases when the
expected life of the financial instrument cannot Financial liabilities
be estimated reliably, then the entity is required
to use the remaining contractual term of the Initial recognition and measurement
financial instrument Financial liabilities are classified, at initial recognition,
• Cash flows from the sale of collateral held or as financial liabilities at fair value through profit or
other credit enhancements that are integral to the loss, loans and borrowings, payables, or as derivatives
contractual terms designated as hedging instruments in an effective
hedge, as appropriate.
As a practical expedient, the Company uses a provision
matrix to determine impairment loss allowance on All financial liabilities are recognised initially at fair
portfolio of its trade receivables. The provision matrix value and, in the case of loans and borrowings and
is based on its historically observed default rates payables, net of directly attributable transaction costs.
over the expected life of the trade receivables and The Company’s financial liabilities include trade
is adjusted for forward-looking estimates. At every and other payables, loans and borrowings including
reporting date, the historical observed default rates are bank overdrafts, financial guarantee contracts and
updated and changes in the forward-looking estimates derivative financial instruments.
are analysed.
Subsequent measurement
ECL impairment loss allowance (or reversal)
recognized during the period is recognized as income/ The measurement of financial liabilities depends on
expense in the statement of profit and loss (P&L). This their classification, as described below:
amount is reflected under the head ‘other expenses’
in the P&L. The balance sheet presentation for various Financial liabilities at fair value through profit or loss
financial instruments is described below: Gains or losses on liabilities held for trading are
• Financial assets measured as at amortised recognised in the profit or loss. The Company has
cost, contractual revenue receivables and lease not designated any financial liability as at fair value
receivables: ECL is presented as an allowance, through profit and loss.
i.e., as an integral part of the measurement of
Loans and borrowings
those assets in the balance sheet. The allowance
reduces the net carrying amount. Until the asset This is the category most relevant to the Company.
meets write-off criteria, the Company does not After initial recognition, interest-bearing loans and
reduce impairment allowance from the gross borrowings are subsequently measured at amortised
carrying amount. cost using the EIR method. Gains and losses are

recognised in profit or loss when the liabilities are - Cash flow hedges when hedging the exposure to
derecognised as well as through the EIR amortisation variability in cash flows that is either attributable
process. to a particular risk associated with a recognised
Amortised cost is calculated by taking into account asset or liability or a highly probable forecast
any discount or premium on acquisition and fees transaction or the foreign currency risk in an
or costs that are an integral part of the EIR. The EIR unrecognised firm commitment
amortisation is included as finance costs in the At the inception of a hedge relationship, the
statement of profit and loss. Company formally designates and documents the
hedge relationship to which the Company wishes to
Derecognition apply hedge accounting and the risk management
A financial liability is derecognised when the obligation objective and strategy for undertaking the hedge.
under the liability is discharged or cancelled or The documentation includes the Company’s risk
expires. When an existing financial liability is replaced management objective and strategy for undertaking
by another from the same lender on substantially hedge, the hedging/ economic relationship, the
different terms, or the terms of an existing liability hedged item or transaction, the nature of the risk being
are substantially modified, such an exchange or hedged, hedge ratio and how the entity will assess the
modification is treated as the derecognition of the effectiveness of changes in the hedging instrument’s
original liability and the recognition of a new liability. fair value in offsetting the exposure to changes in the
The difference in the respective carrying amounts is hedged item’s fair value or cash flows attributable to
recognised in the statement of profit or loss. the hedged risk. Such hedges are expected to be highly
effective in achieving offsetting changes in fair value
Offsetting of financial instruments or cash flows and are assessed on an ongoing basis to
Financial assets and financial liabilities are offset determine that they actually have been highly effective
and the net amount is reported in the balance sheet throughout the financial reporting periods for which
if there is a currently enforceable legal right to offset they were designated.
the recognised amounts and there is an intention to
settle on a net basis, to realise the assets and settle Cash flow hedges
the liabilities simultaneously. The effective portion of the gain or loss on the hedging
instrument is recognised in OCI in the cash flow hedge
Derivative financial instruments: reserve, while any ineffective portion is recognised
The Company uses derivative financial instruments, immediately in the statement of profit and loss.
such as forward currency contracts, interest rate The Company uses forward currency contracts
swaps to manage its foreign currency risks and as hedges of its exposure to foreign currency risk
interest rate risks respectively. in forecast transactions and firm commitments.
These derivative instruments are designated as cash The ineffective portion relating to foreign currency
flow, fair value or net investment hedges and are contracts is recognised in finance costs.
entered into for period consistent with currency. Such Amounts recognised as OCI are transferred to profit or
derivative financial instruments are initially recognised loss when the hedged transaction affects profit or loss,
at fair value on the date on which a derivative contract such as when the hedged financial income or financial
is entered into and are subsequently re-measured at expense is recognised or when a forecast sale occurs.
fair value. Derivatives are carried as financial assets If the hedging instrument expires or is sold, terminated
when the fair value is positive and as financial liabilities or exercised without replacement or rollover (as part of
when the fair value is negative. Any gains or losses the hedging strategy), or if its designation as a hedge
arising from changes in the fair value of derivatives are is revoked, or when the hedge no longer meets the
recognised in the Statement of profit and loss except criteria for hedge accounting, any cumulative gain or
for the effective portion of cash flow hedges, which is loss previously recognised in OCI remains separately
recognised in OCI and later reclassified to profit or loss in equity until the forecast transaction occurs or the
when the hedge item affects profit or loss. foreign currency firm commitment is met.
For the purpose of hedge accounting, hedges are
classified as:

2.21 Investment in Subsidiary The preparation of the Company’s separate

The Company’s investment in its subsidiaries are financial statements requires management to make
carried at cost. judgements, estimates and assumptions that affect
the reported amounts of revenues, expenses, assets
2.22 Earnings Per Share: and liabilities, and the accompanying disclosures, and
Basic Earnings per share (EPS) amounts are calculated the disclosure of contingent liabilities. Uncertainty
by dividing the profit for the year attributable to equity about these assumptions and estimates could result
holders by the weighted average number of equity in outcomes that require a material adjustment to
shares outstanding during the year. the carrying amount of assets or liabilities affected in
future periods. Difference between actual results and
Diluted EPS amounts are calculated by dividing the
estimates are recognised in the periods in which the
profit attributable to equity holders adjusted for the
results are known / materialised.
effects of potential equity shares by the weighted
average number of equity shares outstanding during Estimates and assumptions:
the year plus the weighted average number of equity
The key assumptions concerning the future and other
shares that would be issued on conversion of all the
key sources of estimation uncertainty at the reporting
dilutive potential equity shares into equity shares.
date, that have a significant risk of causing a material
2.23 Cash dividend and non-cash distribution to equity adjustment to the carrying amounts of assets and
holders liabilities within the next financial year, are described
below. The Company has based its assumptions and
The Company recognises a liability to make cash or
estimates on parameters available when the financial
non-cash distributions to equity holders when the
statements were prepared. Existing circumstances
distribution is authorised and the distribution is no
and assumptions about future developments, however,
longer at the discretion of the Company. As per the
may change due to market changes or circumstances
corporate laws, a distribution is authorised when it
arising that are beyond the control of the Company.
is approved by the shareholders. A corresponding
Such changes are reflected in the assumptions when
amount is recognised directly in equity.
they occur.
Non-cash distributions are measured at the fair value
of the assets to be distributed with fair value re- a) Employee benefit plans
measurement recognised directly in equity.
The Company’s obligation on account of gratuity
Upon distribution of non-cash assets, any difference and compensated absences is determined based
between the carrying amount of the liability and the on actuarial valuations. An actuarial valuation
carrying amount of the assets distributed is recognised involves making various assumptions that may
in the statement of profit and loss. differ from actual developments in the future.
These include the determination of the discount
2.24 Contingent liabilities rate, future salary increases and mortality rates.
A contingent liability is a possible obligation that arises Due to the complexities involved in the valuation
from past events whose existence will be confirmed and its long-term nature, these liabilities are
by the occurrence or non-occurrence of one or more highly sensitive to changes in these assumptions.
uncertain future events beyond the control of the All assumptions are reviewed at each reporting
company or a present obligation that is not recognized date.
because it is not probable that an outflow of resources The parameter most subject to change is the
will be required to settle the obligation. A contingent discount rate. In determining the appropriate
liability also arises in extremely rare cases where discount rate, the management considers the
there is a liability that cannot be recognized because interest rates of government bonds in currencies
it cannot be measured reliably. The company does consistent with the currencies of the post-
not recognize a contingent liability but discloses its employment benefit obligation.
existence in the financial statements.
The mortality rate is based on publicly available
mortality tables. Those mortality tables tend
2B. Significant accounting judgements, estimates and
to change only at interval in response to
assumptions
demographic changes. Future salary increases

and gratuity increases are based on expected this amendment to have any significant impact in
future inflation rates. its financial statements.
Further details about gratuity obligations are (ii) Ind AS 8 – Definition of accounting estimates:
given in Note 36. The amendments will help entities to distinguish
between accounting policies and accounting
b) Fair value measurement of financial instruments estimates. The definition of a “change in
When the fair values of financial assets and accounting estimates” has been replaced with
financial liabilities recorded in the balance sheet a definition of “accounting estimates.” Under
cannot be measured based on quoted prices in the new definition, accounting estimates are
active markets, their fair value is measured using “monetary amounts in financial statements that
valuation techniques including the DCF model. are subject to measurement uncertainty.” Entities
The inputs to these models are taken from develop accounting estimates if accounting
observable markets where possible, but where policies require items in financial statements to
this is not feasible, a degree of judgement is be measured in a way that involves measurement
required in establishing fair values. Judgements uncertainty. The Company does not expect this
include considerations of inputs such as amendment to have any significant impact in its
liquidity risk, credit risk and volatility. Changes in financial statements.
assumptions about these factors could affect the
(iii) Ind AS 12 – Income Taxes
reported fair value of financial instruments. See
The amendments narrowed the scope of the
Note 43 and 44 for further disclosures.
recognition exemption in paragraphs 15 and 24
c) Useful Lives of Property, Plant & Equipment: of Ind AS 12. At the date of transition to Ind ASs,
a first-time adopter shall recognize a deferred
The Company uses its technical expertise
tax asset to the extent that it is probable that
along with historical and industry trends for
taxable profit will be available against which the
determining the economic life of an asset/
deductible temporary difference can be utilized.
component of an asset. The useful lives are
Similarly, a deferred tax liability for all deductible
reviewed by management periodically and
and taxable temporary differences associated
revised, if appropriate. In case of a revision, the
with:
unamortised depreciable amount is charged over
the remaining useful life of the assets a) right-of-use assets and lease liabilities
b) decommissioning, restoration and similar
2C. Amendments not yet effective liabilities and the corresponding amounts
Ministry of Corporate Affairs (“MCA”) notifies new recognized as part of the cost of the related
standard or amendments to the existing standards asset.
under Companies (Indian Accounting Standards) Therefore, if a company has not yet recognised
Rules as issued from time to time. On March 31, 2023, deferred tax on right-of-use assets and lease
MCA amended the Companies (Indian Accounting liabilities or has recognised deferred tax on net
Standards) Amendment Rules, 2023, applicable from basis, the same need to recognize on gross basis
April 1, 2023, as below: based on the carrying amount of right-of-use
(i) Ind AS 1 – Disclosure of material accounting assets and lease liabilities.
policies: (iv) Ind AS 103 – Common control Business
The amendments related to shifting of disclosure Combination
of erstwhile “significant accounting policies” to The amendments modify the disclosure
“material accounting policies” in the notes to requirement for business combination under
the financial statements requiring companies common control in the first financial statement
to reframe their accounting policies to make following the business combination. It requires
them more “entity specific. This amendment to disclose the date on which the transferee
aligns with the “material” concept already obtains control of the transferor is required to be
required under International Financial Reporting disclosed.
Standards (IFRS). The Company does not expect

NOTE 3
A. PROPERTY, PLANT AND EQUIPMENTS
(` in Crores)
Land - Plant and Office Furniture Electric

Buildings Vehicles Total
Freehold equipments equipments and fixtures installations
I. Gross block
Balance as at 1 April 2021 345.60 628.21 5377.30 12.07 38.04 8.05 129.11 6538.38
Additions - 13.44 129.69 0.34 2.28 0.77 0.01 146.53

Disposals (0.06) (0.21) (15.94) (0.52) (1.77) (1.12) (0.04) (19.66)
Transfer to Investment properties (8.77) - - - - - - (8.77)
Balance as at 31 March 2022 336.77 641.44 5491.05 11.89 38.55 7.70 129.08 6656.48
Company Overview
Additions - 1.89 93.13 0.95 1.41 1.94 8.65 107.97
Disposals (0.02) (0.14) (31.10) (1.11) (1.08) (1.28) (0.83) (35.56)
II. Accumulated depreciation
Depreciation expense for the year 0.09 16.92 165.66 0.45 1.26 0.53 4.06 188.97
Disposal of assets - (0.20) (13.01) (0.45) (1.71) (1.05) (0.04) (16.46)

Statutory Reports
Depreciation expense for the year - 17.31 163.10 0.42 1.35 0.57 1.95 184.70
Net block
323
NOTE 3 (Continued)
B. Right of use assets
(` in Crores)
Description Land Building Total
Cost
Balance as on 1 April 2021 58.08 17.75 75.83
Additions - - -
Disposals - - -
Balance as at 31 March 2022 58.08 17.75 75.83
Additions - 3.02 3.02
Disposals (25.66) (4.98) (30.64)
Accumulated depreciation
Balance as on 1 April 2021 9.42 4.05 13.47
Depreciation expense for the year 1.07 2.67 3.74
Disposal of assets - - -
Disposal of assets (3.18) (4.98) (8.16)
Net block
C: Net book value
(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
Owned assets 3059.89 3146.74
Right-of-use assets 35.58 58.62
Total 3095.47 3205.36
Notes:
(i) During the year ended 31 March 2023 and 31 March 2022, no impairment indicators existed for any of its Cash
Generating Unit (CGU) and accordingly no provision for impairment has been recognised.
(ii) Capitalised borrowing cost : No borrowing costs are capitalised on property, plant and equipments under construction
(iii) Title deeds
(a) All title deeds of immovable properties included in property, plant and equipments are held in the name of the
Company as at 31st March 2023.
(b) Refer note 14 and note 18 for details of pledge and securities.

NOTE 3A CAPITAL WORK IN PROGRESS (CWIP)
(i) Ageing schedule
(` in Crores)
Amount in CWIP for a period of Total

Particulars Less than 1-2 years 2-3 years More than
1 year 3 years
As at 31 March 2023
Projects in progress 95.47 75.99 12.86 2.75 187.07
Projects temporarily suspended - - - - -
Total 95.47 75.99 12.86 2.75 187.07
As at 31 March 2022
Total 129.09 30.90 3.00 10.76 173.75
(ii) CWIP completion schedule for projects overdue
To be completed in
Project Less than 1-2 years 2-3 years More than
1 year 3 years
As at 31 March 2023
Paper Machine 3 & 4 upgradation 3.81 - - -
275 TPH Evaporator Plant 114.22 - - -
As at 31 March 2022
Paper Machine 3 & 4 48.20 - - -
Paper Machine 6 5.75 - - -
100 KVA Transformer Project 8.57 - - -

NOTE 4 INVESTMENT PROPERTIES
(` in Crores)
Land Buildings Total
Particulars
(Including TDRs)
I. Gross Block
Balance as at 1 April 2021 7.67 1042.02 1049.69
Additions 2.46 0.27 2.73
Disposals - - -
Transferred from property, plant and equipment 8.77 - 8.77
Disposals - (11.52) (11.52)
Balance as at 1 April 2021 - 188.92 188.92
Depreciation expense for the year - 33.54 33.54
Balance as at 31 March 2022 - 222.46 222.46
Disposal of assets - (1.73) (1.73)
Net Block
Notes :
(i) Information regarding Income and expenditure of Investment properties

(` in Crores)
Particulars
31 March 2023 31 March 2022
Rental income derived from Investment properties (See Note 21) 124.73 126.45
Direct operating expenses (including repairs and maintenance)
generating rental income (26.19) (22.99)
Profit arising from investment properties before depreciation
and indirect expenses 98.54 103.46
Less: Depreciation 32.49 33.54
Profit arising from investment properties before indirect expenses 66.05 69.92
(ii) Investment properties consist of two commercial buildings and a land in India which are leased to third parties.

NOTE 4 INVESTMENT PROPERTIES (Continued)

(iii) Out of the total land under Investment Properties, 6.31 acres of land amounting to ` 0.01 crores, which was allotted to the
Company on lease under the Poorer Class Accommodation Scheme 1898 as amended by 1913 Act and 1925 Act, which
stated that in the event of no default being made in complying with the conditions of the lease, then on expiry of the lease
all the right, title and interest shall vest with the Company. The lease expired in the year 1955 and the Company has filed
a petition for execution of formal deed of conveyance, refer details below
Relevant line Description Gross Title deeds Whether title deed holder Property Reason for not
item in the of item of carrying held in the is a promoter, director held since being held in
Balance sheet property value name of or relative of promoter / which date the name of the
(` in director or employee of company
Crores) promoter / director
Investment Land - 0.01 Municipal No 50+ years Ongoing

properties Freehold Corporation litigation with
of Greater MCGM in
Mumbai Bombay High
(MCGM) Court
(iv) Refer note 14 and note 18 for details of pledge and securities.
(v) Capitalised borrowing cost :
No borrowing costs is capitalised during the year (31 March 2022 ` Nil) in Investment property under development.
(vi) Leasing arrangements
Certain investment properties are leased to tenants under long term operating leases with rentals payable monthly. (Refer
note 45)
(vii) Fair value
Description of valuation techniques used and key inputs to valuation on investment properties:
(` in Crores)
Valuation technique Fair value hierarchy Fair Value

Particulars (See Note below) (See Note below)
31 March 2023 31 March 2022
Land (worli land excluding Stamp duty reckoner rate Level 2 660.67 681.84
land classified as Real estate
inventory)
Commercial Property * Stamp duty reckoner rate Level 2 2328.84 2291.25

* Includes Investment property under development
Note:
The above valuation of the investment properties are in accordance with the Ready Reckoner rates prescribed by
the Government of Maharashtra for the purpose of levying stamp duty. The Independent Valuer has referred to the
publications and Government website for Ready Reckoner rates. Suitable adjustments if required have been made to
account for availability of FSI in land parcels in Mumbai in accordance with the guidelines prescribed by the Department
of Registrations and Stamps. The adjustments related to floors, lifts and other factors are not considered for valuation of
commercial property. Since the valuation is based on the published Ready Reckoner rates, the Company has classified
the same under Level 2.

NOTE 4A INVESTMENT PROPERTY UNDER DEVELOPMENT (IPUD)
(i) Ageing schedule
(` in Crores)
Amount in IPUD for a period of Total
1 year 3 years
As at 31 March 2023
Total 0.62 0.11 0.15 35.53 36.41
As at 31 March 2022
Projects in progress 0.42 0.01 - 35.79 36.22
Total 0.42 0.01 - 35.79 36.22
NOTE 5 INTANGIBLE ASSETS
(` in Crores)
Particulars Computer softwares
I. Gross Block
Balance as at 1 April 2021 23.56
Additions 0.74
Disposals (0.05)
Balance as at 31 March 2022 24.25
Additions 2.54
Disposals -
II. Accumulated amortisation
Amortisation expense for the year 1.80
Disposal of assets (0.04)
Disposal of assets -
Net Block

NOTE 5A INTANGIBLE ASSET UNDER DEVELOPMENT (IAUD)
(i) Ageing schedule
(` in Crores)
Amount in IAUD for a period of Total
1 year 3 years
As at 31 March 2023
Projects in progress - - - - -
Total - - - - -
As at 31 March 2022
Projects in progress - 0.38 - - 0.38
Total - 0.38 - - 0.38
NOTE 6 FINANCIAL ASSETS - NON-CURRENT INVESTMENTS
(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
I. NON CURRENT INVESTMENTS
A. Investment in Subsidiaries measured at cost less impairments, if any
Unquoted investments :
Equity Shares of ` 10 each, of Birla Estates Private Limited
20,00,00,000 Shares (31 March 2022, 20,00,00,000 shares) 200.00 200.00
Equity Shares of ` 10 each, of Birla Century Exports Pvt. Ltd.
5,00,000 Shares (31 March 2022, 5,00,000 shares) 0.50 0.50
Total 200.50 200.50
B. Investment in Joint Venture measured at cost less impairments,
if any
Equity Shares of ` 10 each, of Birla Advanced Kints Private Limited 25.00 15.00
2,50,00,000 Shares (31 March 2022, 1,50,00,000 shares)
Total 25.00 15.00
C. Investments carried at fair value through OCI
Quoted investments (Refer note (i) below) 157.33 216.68
Unquoted investments (Refer note (i) & (ii) below) 38.46 38.50
Total (Quoted & unquoted investments) 195.79 255.18
D. Investments carried at amortised Cost
Quoted Government and trust securities 5.82 8.01
Total [A] + [B] + [C]+ [D] 427.11 478.69

NOTE 6 FINANCIAL ASSETS - NON-CURRENT INVESTMENTS (Continued)

Note:
(i) Investments at fair value through OCI (fully paid) reflect investment in quoted and unquoted equity securities. These equity
shares are designated as FVTOCI as they are not held for trading purpose and are not in similar line of business as the
Company. Thus disclosing their fair value fluctuation in profit and loss will not reflect the purpose of holding. Refer Note
44 for determination of their fair values
(ii) Investments in unquoted investments includes investment in Industry House Limited (IHL) amounting to ` 26.79 Crore
(31 March 2022 ` 27.38 Crore). The Company is holding 35.28% of equity shares in IHL. As the Company does not have
significant influence over Industry House Limited, the Company has not considered it as an associate as per Ind AS 28
“Investments in Associates and Joint Ventures” and hence not consolidated. The Company’s share of profit of Industry
House Limited is insignificant.
(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
II. CURRENT INVESTMENTS
Investments carried at fair value through profit and loss
Investment in mutual funds
8,315 units (31 March 2022: 3,78,770 units) of SBI Overnight Fund Direct Growth 3.00 131.00
Total 3.00 131.00
NOTE 6A LOANS
(At amortised cost)
(` in Crores)
Non-Current Current
Particulars As at As at As at As at
31 March 2023 31 March 2022 31 March 2023 31 March 2022
At amortised cost
a) Loan to Subsidiary (Refer note below) 566.12 342.12 - -
Total 566.12 342.12 - -
Note:
(i) Disclosure as per section 186(4) of the Act.
Rate of Due date Opening Loan Given Loan Closing

Name of the Company
Interest Repaid
Birla Estates Private Ltd
For the year ended 31 March 2023 8.00% Mar-2025 342.12 250.07 26.07 566.12
For the year ended 31 March 2022 8.00% Mar-2025 291.97 146.25 96.10 342.12
The loan has been utilised for meeting their working capital requirement.
(ii) Disclosure as per regulation 53(f) and 34(3) read together with para A Schedule V of SEBI (LODR) Regulations, 2015.
Amount outstanding Maximum Principal amount

at the year end outstanding during the year
Name of the Company Relationship
(excluding interest accrued)
Birla Estates Private Ltd Subsidiary 566.12 342.12 566.12 438.22

NOTE 7 OTHER FINANCIAL ASSETS

(At amortised cost)
(` in Crores)
Non-Current Current
(i) Financial assets at amortised cost
(Unsecured, considered good, unless
otherwise specified)
a) Interest receivable - - 10.45 7.76
b) Security deposits 6.52 7.27 1.14 0.38
c) Unbilled lease rental 1.87 2.23 1.50 1.04
d) Others - - 7.16 5.45
- Doubtful - - 0.14 0.14
Less: Allowance for credit loss - - (0.14) (0.14)
8.39 9.50 20.25 14.63
e) Finance lease receivables (Refer
Note 45) 1.48 - - 0.48
Less: Allowance for credit loss - - - -
1.48 - - 0.48
f) Bank Deposits with more than 12
months maturity 9.91 48.49 - -
Total 19.78 57.99 20.25 15.11
NOTE 8 OTHER ASSETS

(Unsecured, considered good, unless otherwise specified)
(` in Crores)
Non-Current Current
(a) Capital advances
(i) For property, plant and
equipments 7.70 2.88 - -
7.70 2.88 - -
(b) Advances other than capital advances
(i) Export incentives receivable 0.05 3.64 3.76 5.80
(ii) Balances with Government
authorities (other than income
taxes) 7.01 6.24 30.64 46.82
(iii) Amount paid against disputed
demands 4.55 3.94 - -
(iv) Advances to vendors / suppliers - - 77.29 53.17
(v) Prepaid expenses 0.83 7.50 31.99 33.71
(vi) Gratuity - plan asset (Refer Note
36) - - 0.83 -
(vii) Contract assets (brokerage on
sale of real estates inventories) - - 56.12 17.77
(viii) Others 1.17 1.17 3.92 5.92
13.61 22.49 204.55 163.19
Total 21.31 25.37 204.55 163.19

NOTE 9 INVENTORIES
(At cost or net realisable value, whichever is lower)
(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
(a) Raw materials 252.91 160.36
Goods in transit 50.61 12.28
(b) Work-in-progress 241.62 235.40
(c) Finished and semi-finished goods 128.92 91.88
Goods in transit 17.73 -
(d) Stock-in-trade of goods acquired for trading 0.68 0.73
(e) Fuels, stores and spares 72.65 84.07
(f) Other materials 2.66 3.12
(g) Real estate inventory 1018.00 789.40
Total 1786.63 1377.76
Note :
(i) Cost of inventories recognised as an expense includes ` 3.13 Crores (31 March 2022 ` 3.07 Crores) in respect of write-
downs of inventory to net realisable value.
(ii) For charge created on inventories refer Note 14 and 18
(iii) Real estate inventory includes borrowing costs during the year of ` 29.45 crores (31 March 2022 ` 31.87)
NOTE 10 TRADE RECEIVABLES

(At amortised cost)
(` in Crores)
Current
Particulars As at As at
31 March 2023 31 March 2022
Secured, considered good 10.32 32.04
Unsecured, considered good 148.74 189.18
Unsecured, considered doubtful 0.59 0.81
Less: Allowance for credit losses (0.59) (0.81)
Receivables - credit impaired 23.59 12.50
Total 159.06 221.22
Of the above, trade receivables from:
- Related Parties (Refer Note 40) 4.60 5.20
- Others 154.46 216.02
Total 159.06 221.22
Notes :
(i) No trade receivable are due from directors or other officers of the Company either severally or jointly with any other
person. Nor any trade receivable are due from firms or private companies respectively in which any director is a partner
or a director or a member. Trade receivables are non interest bearing and are generally on terms of 7 to 120 days of credit
period.

NOTE 10 TRADE RECEIVABLES (Continued)

(ii) Trade receivables ageing schedule
Outstanding for following periods from invoice date Total
Particulars Less than 6 months 1-2 years 2-3 years More than
6 months – 1 year 3 years
As at 31 March 2023
Undisputed trade receivables – considered
good 134.40 19.14 5.26 0.02 0.15 158.97
Undisputed trade receivables – credit
impaired - - 14.53 0.18 2.66 17.37
Disputed trade receivables – considered
good - - - - 0.09 0.09
doubtful 0.59 - - - - 0.59
Disputed trade receivables – credit impaired - - - 0.14 6.08 6.22
Total 134.99 19.14 19.79 0.34 8.98 183.24
As at 31 March 2022
good 206.89 10.68 0.44 0.03 0.24 218.28
impaired - - - - - -
good - - - 1.88 1.06 2.94
doubtful 0.81 - - - - 0.81
Disputed trade receivables – credit impaired - - 0.14 1.86 10.50 12.50
Total 207.70 10.68 0.58 3.77 11.80 234.53
NOTE 11 CASH AND BANK BALANCES

(At amortised cost)
(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
Cash and cash equivalents
(a) Balances with banks
- Current accounts 5.40 13.01
- Debit balance in cash credit / overdraft accounts 15.54 3.41
(b) Cheques and drafts on hand 2.39 1.36
(c) Cash on hand 0.05 0.10
Total 23.38 17.88
Other bank balances
(a) Earmarked balances with banks
- Unclaimed dividend accounts 1.67 1.83
(b) Balances with banks:
- Fixed deposits with maturity more than 3 months (including interest accrued) 7.41 7.33
- On margin accounts 52.22 10.23
Total 61.30 19.39
Note: Short term fixed deposits are varying between three months and twelve months, depending on the immediate cash
requirements and earn interest at the respective short term deposit rate. Interest rate is between 4.40% to 8.00%

NOTE 12 EQUITY SHARE CAPITAL
(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
(a) Authorised :
14,80,00,000 (31 March 2022 - 14,80,00,000) Equity Shares of ` 10 each. 148.00 148.00
1,00,00,000 (31 March 2022 - 1,00,00,000) Redeemable Cumulative
Non-convertible Preference Shares of ` 100 each. 100.00 100.00
Total 248.00 248.00
(b) Issued :
11,17,11,090 (31 March 2022 - 11,17,11,090) Equity Shares of ` 10 each 111.71 111.71
Total 111.71 111.71
(c) Subscribed and paid up:
11,16,95,680 (31 March 2022 - 11,16,95,680) Equity Shares of ` 10 each, fully
paid up (The Company has only one class of equity share. Each shareholder is
eligible for one vote per share. The dividend proposed by the Board is subject to
the approval of shareholders except in case of interim dividend. In the event of
liquidation, the equity shareholders are eligible to receive the remaining assets
of the Company after distribution of all preferential amounts in proportion to
their shareholding.) 111.69 111.69
Total 111.69 111.69
(d) Reconciliation of the number of shares outstanding at the beginning and at the end of the year.
Opening Balance Fresh Issue Closing Balance
Equity shares with voting rights
Year ended 31 March 2023
No. of shares 11,16,95,680 - 11,16,95,680
Amount (` in Crores) 111.69 - 111.69
No. of shares 11,16,95,680 - 11,16,95,680
Amount (` in Crores) 111.69 - 111.69
(e) Shareholders holding more than 5% shares of the Company

(` in Crores)
As at 31 March 2023 As at 31 March 2022
Class of shares / Name of shareholders Number of Percentage Number of Percentage
shares held shares held
(a) Pilani Investment and Industries Corporation Limited 3,69,78,570 33.11 % 3,69,78,570 33.11 %
(b) IGH Holding Private Limited 1,11,50,000 9.98 % 1,11,50,000 9.98 %
(c) Aditya Marketing And Manufacturing Private Limited
(Merged with Umang Commercial Company Private
Limited) 75,60,900 6.77 % 75,60,900 6.77 %
(f) The Company has not issued any equity shares as bonus or for consideration other than cash and has not bought back
any shares during the period of five years immediately preceding 31 March 2023.
(g) Details of shares held by promoters and promoters group

NOTE 12 EQUITY SHARE CAPITAL (Continued)
No. of shares at Change No. of shares % in total % change

Equity share of ` 10 each fully paid up the beginning during the at the end of shares during the
of the year year the year year
As at 31 March 2023
Pilani Investment And Industries
Corporation Limited 3,69,78,570 - 3,69,78,570 33.11% -
IGH Holdings Private Limited 1,11,50,000 - 1,11,50,000 9.98% -
Aditya Marketing And Manufacturing
Private Limited (Merged with Umang
Commercial Company Private Limited) 75,60,900 - 75,60,900 6.77% -
Estate of deceased Basant Kumar Birla 1,99,800 - 1,99,800 0.18% -
Prakash Educational Society 1,28,000 - 1,28,000 0.11% -
Birla Educational Institution 44,000 - 44,000 0.04% -
Padmavati Investment Private Limited 16,700 - 16,700 0.01% -
Total 5,60,77,970 - 5,60,77,970 50.21% -
As at 31 March 2022
Total 5,60,77,970 - 5,60,77,970 50.21% -
NOTE 13 OTHER EQUITY
(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
(a) Securities Premium 643.22 643.22
643.22 643.22
Note :
(i) Securities premium is used to record the excess of the amount received over the face value of the shares. This
reserve will be utilised in accordance with the provisions of the Companies Act, 2013.
(b) Other reserves

(i) Capital Redemption Reserve 100.00 100.00
Note :
Capital redemption reserves was created during the year ended 31 March 2001, on redemption of 10.25% Redeemable
Cumulative Non-convertible Preference Shares privately placed with financial institutions and banks. This reserve will be
utilised in accordance with the provisions of the Companies Act, 2013.

NOTE 13 OTHER EQUITY (Continued)

(c) Dividend distribution made and proposed
(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
Cash dividends on equity shares paid during the year
Dividend for the year ended on 31 March 2022: ` 4.00 per share 44.68 11.17
(31 March 2021 ` 1.00 per share)
44.68 11.17
Proposed dividend on equity shares
Proposed dividend for the year ended on 31 March 2023 ` 5 per share
(31 March 2022 ` 4.00 per share) 55.85 44.68
55.85 44.68
Note :
Proposed dividends on equity shares are subject to approval at the annual general meeting and are not recognised as a
liability as at 31 March 2023.
(d) General Reserves

General Reserves is used from time to time to transfer profits from Retained earnings for appropriation purpose. This
(e) Other Comprehensive Income
FVOCI equity investments:

The Company has elected to recognise changes in the fair value of certain investments in equity securities in OCI. These
changes are accumulated within the FVOCI equity investment reserve within equity. The Company transfers amounts
from this reserve to retained earnings when the relevant equity securities are derecognised.
NOTE 14 BORROWINGS
(` in Crores)
Non-Current Current Maturities
Measured at amortised cost
(A) Secured non convertible debentures
1 2,500 (31 March 2022 - 2,500)
Redeemable Non Convertible
debentures (Repayment due on Feb’
2025, Interest rate as at 31 March
2023 - 6.32 % p.a) - 249.78 249.86 -
2 Nil (31 March 2022 - 4,000)
debentures (Repaid in Feb’ 2023 -
7.95 % p.a) - - - 399.77

NOTE 14 BORROWINGS (Continued)
(` in Crores)
(B) Unsecured non convertible
debentures
3 40,000 (31 March 2022 - Nil)
Unsecured Non Convertible
debentures (Repayment due on Jan’
2026 Interest rate as at 31 March
2023 - 7.97 % p.a) 399.09 - - -
(C) Term Loan from Bank - Secured
4 Term loan from Axis Bank
(Repayable in 16 instalments, last
instalment falling due on Sep’ 2023) - 57.10 56.23 173.84
Amount disclosed under the head
Borrowings - Current “ (Refer Note 18) - - (306.09) (573.61)
Total 399.09 306.88 - -
Effective rate of Interest for term loan from bank is 6.32% to 8.50%
Note :-
Loans covered in Sr. No. 1

Repayment of loan covered above is due on Feb-2025, however as per the term & conditions of NCD put option shall be
exercisable by debenture holders at the end of 2 (two) years from the date of Allotment. Hence the said NCD has been classified
as current.
Details of Security:
1. Loans covered in Sr. No. 1 :

First pari passu charge on present and future plant and machineries of Birla Century, Pulp and Paper divisions and
excluding Furniture and Fixtures and vehicles of the said divisions.

First pari passu charge on the present and future movable fixed assets of the Borrower’s Birla Century unit at Bharuch
Gujarat and Pulp & Paper unit at Lalkuan, Uttarakhand. Negative lien on the present and future immovable fixed assets of
the Borrower’s Birla Century unit at Bharuch Gujarat and Pulp & Paper unit at Lalkuan, Uttarakhand.
There was modification in security details of above term loan where by Freehold land admeasuring 25,323.78 sq. meters
and the Birla Centurion building thereon situated at Worli, Lower Parel Divisions, Mumbai was released during the year.
3. Loan covenants
Bank loan and NCDs contain certain debt covenants relating to total term loan to tangible net worth, fixed asset coverage
ratio, net debt to equity ratio and interest coverage ratio. The Company is compliant with the said covenants during the
year ended 31 March 2023. The Company has also satisfied all other debt covenants prescribed in the terms of bank loan
and NCDs.
The Company has not defaulted in repayment of borrowing and interest thereon.

NOTE 14A LEASE LIABILITIES
(` in Crores)
Non-Current Current
Lease liability (Refer Note 45) 19.34 18.46 2.26 2.30
Total 19.34 18.46 2.26 2.30
NOTE 15 OTHER FINANCIAL LIABILITIES
(` in Crores)
Non-Current Current
Other Financial Liabilities measured at

amortised cost
(a) Deposits from dealers and agents - - 73.69 53.11
(b) Deposits against rental arrangements 117.33 97.70 58.90 66.09
(c) Interest accrued - - 9.74 9.02
(d) Unclaimed / Unpaid dividends (Refer

Note below (i)) - - 1.67 1.83
(e) Creditors for capital supplies / services - - 20.82 14.58
(f) Earnest money on booking of

residential inventory - - - 1.69
(g) Other liabilities 0.49 0.49 7.02 2.07
Total 117.82 98.19 171.84 148.39
Note :-
(i) Unclaimed dividend amounting to ` 0.05 crore (31 March 2022 ` 0.05 crore) is pending on account of litigation among
claimants / notices from the tax recovery officer.
(ii) Derivative financial instruments:
The Company entered into foreign exchange forward contracts with the intention of hedging foreign exchange risk of
expected sales and purchases, these contracts are not designated as hedge and are measured at fair value through profit
or loss.
Derivative instruments at fair value through profit or loss reflect the negative change in fair value of those foreign exchange
forward contracts that are not designated in hedge relationships, but are, nevertheless, intended to reduce the level of
foreign currency risk for expected sales and purchases.

NOTE 15 OTHER FINANCIAL LIABILITIES (Continued)

(iii) Changes in liabilities arising from financing activities (excluding lease liabilities)
(` in Crores)
As at Cash flow As at
Particulars
1 April 2022 31 March 2023
Non- current borrowings
Long term borrowings (including current maturities and
interest accrued) 889.51 (174.59) 714.92
Current borrowings
Working capital loans / cash credit from banks 0.50 133.19 133.69
Line of Credit - 35.00 35.00
Pre-shipment, Post-shipment and Export Bills Discounting
facilities - 30.00 30.00
Commercial Papers 313.27 (313.27) -
Total 1203.28 (289.67) 913.61
(` in Crores)
Particulars
1 April 2021 31 March 2022
Current borrowings
Working capital loans / cash credit from banks 0.79 (0.29) 0.50
facilities 2.19 (2.19) -
Commercial Papers - 313.27 313.27
Total 988.38 214.90 1203.28
NOTE 16 INCOME TAX
(` in Crores)
Particulars
31 March 2023 31 March 2022
(a) Tax expense recognised in the Statement of Profit and Loss on continuing
operations
Current tax
In respect of current year 92.84 54.99
Adjustment of tax relating to earlier periods - -
92.84 54.99
Minimum Alternate Tax (MAT) Credit entitlement - (54.99)
92.84 -
Deferred tax
In respect of earlier years 0.55 0.48
68.51 101.86
Total income tax expense on continuing operations 161.35 101.86

NOTE 16 INCOME TAX (Continued)
(` in Crores)
Particulars
31 March 2023 31 March 2022
Tax expense recognised in the Statement of Profit and Loss on discontinuing
operations
Current tax
In respect of current year - -
Deferred tax
In respect of current year origination and reversal of temporary differences - 3.05
Total income tax expense on discontinuing operations - 3.05
Net tax expense reconginsed in the Statement Profit and Loss 161.35 104.91
(b) Income tax recognised in other comprehensive income
Deferred tax related to items recognised in other comprehensive income during
the year:
Remeasurement of defined benefit obligations 0.64 0.34
Cash flow hedge - 0.21
0.64 0.55
Classification of income tax recognised in other comprehensive income
Income taxes related to items that will not be reclassified to profit or loss 0.64 0.34
Income taxes related to items that will be reclassified to profit or loss - 0.21
0.64 0.55
(c) Amounts Recognised directly in Equity - Nil (31 March 2022 - Nil)
(d) Reconciliation of income tax expense and the accounting profit multiplied by
Company’s tax rate:
Profit before tax from continuing operations 529.66 301.65
Income tax expense calculated at 34.944% (31 March 2022 - 34.944%) 185.08 105.41
Income taxable at different tax rates (21.99) -
Effect of income that is exempt from taxation (0.62) -
Effect of expenses that is non-deductible in determining taxable profit 1.59 2.58
Others (3.26) (6.61)
160.80 101.38
Adjustments recognised in the current year in relation to the deferred tax of
prior years 0.55 0.48
Adjustments of tax relating to prior years - -
Income tax expense recognised In profit or loss from continuing operations 161.35 101.86
Profit/(loss) before tax from discontinuing operations - 10.59
Income tax expense calculated at 34.944% - 3.70
Income taxable at different tax rates - (0.65)
Income tax expense recognised in profit or loss from discontinuing operations - 3.05
Note :
(i) The tax rate used for above deferred tax reconciliation for 31 March 2023 and 31 March 2022 is 34.944% respectively.


(e) The movement in deferred tax assets and liabilities during the year ended 31 March 2023 and 31 March 2022 :
(` in Crores)
As at Recognised in Recognised in Other As at
Movement during the year ended
31 March 2022 profit and Loss comprehensive 31 March 2023
31 March 2023
income
Tax effect of items constituting deferred
tax liabilities
(i) Property, plant and equipments,
investment property and real estate
Inventory 603.91 (4.92) - 598.99
(ii) Others 40.95 - - 40.95
644.86 (4.92) - 639.94
tax assets
(i) Employee benefits 8.32 (0.26) (0.64) 7.42
(ii) Expenses allowable for tax purpose
when paid 4.54 - - 4.54
(iii) Tax losses 49.46 (49.46) - -
(iv) Interest Income on unwinding of
financial assets 23.14 - - 23.14
(v) Other temporary differences 23.25 10.47 - 33.72
(vi) Upfront royalty 125.11 (14.86) - 110.25
233.82 (54.11) (0.64) 179.07
Deferred Tax liability / (asset) 411.04 49.19 0.64 460.87
MAT credit (416.54) 19.32 - (397.22)
Net Deferred Tax liability / (asset) (5.50) 68.51 0.64 63.65
(` in Crores)
Movement during the year ended
31 March 2022
income
tax liabilities
Inventory 612.67 (8.76) - 603.91
(ii) Others 40.95 - - 40.95
653.62 (8.76) - 644.86
tax assets
(i) Employee benefits 7.61 1.05 (0.34) 8.32
when paid 4.54 - - 4.54
(iii) Tax losses 145.57 (96.11) - 49.46
(v) Other temporary differences 26.82 (3.57) - 23.25
(vii) Cash flow hedge 0.21 - (0.21) -
348.03 (113.66) (0.55) 233.82
MAT credit (361.55) (54.99) - (416.54)
Net Deferred Tax liability / (asset) (55.49) 49.92 0.55 (5.50)

NOTE 17 OTHER LIABILITIES
(` in Crores)
Non-Current Current
(a) Advances received from customers - - 497.51 126.28
(b) Deferred revenue - Government grant
(Refer Note below) 11.63 27.63 - -
(c) Deferred revenue (Refer Note 33) 513.61 533.03 52.78 52.22
(d) Statutory dues
- Taxes Payable (other than income
taxes) - - 44.82 48.24
- Employee recoveries and employer
contributions - - 2.08 1.98
(e) Other liabilities - - 0.25 0.15
Total 525.24 560.66 597.44 228.87
Note : Government grant

(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
Opening 27.63 29.09
Received during the year - 0.40
Released to the statement of profit and loss 16.00 1.86
Closing 11.63 27.63
Under the Export Promotion Capital Goods (EPCG) Scheme, the Company received Government grant for the purchase of
certain items of property, plant and equipments. As per the EPCG scheme the Company has an obligation to export up to 6
times of grant amount. As and when the Company fulfils the export obligation, proportionate grant is released to the Statement
of profit and loss (Refer Note 39).
NOTE 18 BORROWINGS - CURRENT
(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
Secured borrowings measured at amortised cost
(a) Loans repayable on demand from banks
Cash credit / Overdraft facility form Banks 133.69 0.50
Pre-shipment, post-shipment and export bills discounting facilities 30.00 -
Line of Credit 35.00 -
Unsecured borrowings measured at amortised cost.
(b) Current maturity of long-term loans:
Current maturity of long-term loans (refer note 14) 306.09 573.61
(c) Commercial papers
(Maximum balance outstanding during the year ` 500 Crores)
(31 March 2022 ` 375 Crores) - 313.27
Total 504.78 887.38

NOTE 18 BORROWINGS - CURRENT (Continued)

Note:
Nature of security
(i) Cash credit / Overdraft facility form Banks of ` 19.82 Crores (31 March 2022 ` 0.50 crores) are secured against a first
and pari passu charge over the current assets (including documents of title to goods/related receivables) and collateral
security on a pari-passu basis over the present and future property plant and equipments (plant and machinery) of Birla
Century (Gujarat), Century Pulp and paper.
(ii) Cash credit / Overdraft facility of ` 113.87 crores (31 March 2022 ` Nil) & Line of credit from banks are secured against
a first and pari passu charge with other facility by way of registered mortgage on the property, project, future scheduled
receivable of the project and all insurance proceed, both present and future, on security of all rights, title, interest, claims,
benefits, demands under the project documents of both present and future, on the escrow and DSR account of the project
including all monies credited / deposited therein and all investment in respect thereof.
All such sold units of secured project, booking of which are subsequently cancelled by customer shall continue to stand
mortgaged to the lender.
NOTE 19 TRADE PAYABLES

(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
Trade payable - Micro and small enterprises (Refer Note 34) 17.04 10.71
Trade payable - Other than micro and small enterprises 688.74 806.17
Total 705.78 816.88
Note :
(a) The above information has been provided as available with the company to the extent such parties could be identified on
the basis of the information available with the Company regarding the status of suppliers under the MSMED Act.
(b) Trade payables are non interest bearing and are normally settled on 60-90 days terms. Acceptances are interest bearing
and have an average term of six months. There are no other amounts paid / payable towards interest / principal under the
MSMED.
(c) Trade payables Ageing Schedule
Outstanding for following periods from invoice date
Particulars Less than 1-2 years 2-3 years More than Total
1 year 3 years
As at 31 March 2023
Total outstanding dues of micro enterprises
and small enterprises 17.04 - - - 17.04
Total outstanding dues of creditors other than
micro enterprises and small enterprises 636.25 37.40 3.60 11.49 688.74
Disputed dues of creditors other than micro
enterprises and small enterprises - - - - -
Total 653.29 37.40 3.60 11.49 705.78
As at 31 March 2022
enterprises and small enterprises - - 0.01 0.43 0.44
Total 784.96 12.37 10.16 9.39 816.88

NOTE 20 PROVISIONS
(` in Crores)
Current
31 March 2023 31 March 2022
(a) Provision for employee benefits
(i) Leave entitlement 22.05 23.41
(ii) Gratuity (Refer Note 36) - 0.40
22.05 23.81
(b) Other Provisions
(i) Disputed matters (Refer Note 37) 155.22 154.74
155.22 154.74
Total 177.27 178.55
NOTE 21 REVENUE FROM OPERATIONS
(` in Crores)

Particulars
31 March 2023 31 March 2022
(a) Sale of products 4527.87 3878.95
(b) Rent from leased properties:
Rent from Investment properties

(Refer Note 4) 124.73 126.45
Rent from other assets (Refer Note 33) 49.98 49.98
174.71
(c) Service income 12.74 12.10
4715.32 4067.48
(d) Other operating revenues :
Export benefits 16.57 14.36
Sale of scrap 12.66 8.78
Insurance and other claims 0.05 0.40
Liabilities no longer required written back 8.21 12.05
Government grants 16.00 8.60
Renewable energy credits - 1.09
Others 26.40 16.61
79.89 61.89
Total 4795.21 4129.37

NOTE 21A DISAGGREGATED REVENUE INFORMATION:
(` in Crores)
Particulars
31 March 2023 31 March 2022
Segment
Textile products 946.76 1036.37
Paper and Pulp products 3571.71 2817.79
Real Estates 12.74 12.10
Others (Salt and Chemicals) 9.40 24.79
Total revenue from contracts with customers 4540.61 3891.05
India 4103.67 3233.97
Outside India 436.94 657.08
Timing of revenue recognition
Goods transferred at a point in time 4527.87 3878.95
Services transferred over time 12.74 12.10
NOTE 21B
Textile Pulp and Real Estates Others Total

Reconciliation with segment revenue
Paper
Revenue as per segment 996.74 3571.71 137.47 9.40 4715.32
Less:
Rent from Investment properties - - (124.73) - (124.73)
Rent from other assets (49.98) - - - (49.98)
Total revenue from contracts with customers 946.76 3571.71 12.74 9.40 4540.61
Revenue as per segment 1086.35 2817.79 138.55 24.79 4067.48
Less:
Rent from other assets (49.98) - - - (49.98)
Total revenue from contracts with customers 1036.37 2817.79 12.10 24.79 3891.05
NOTE 21C CONTRACT BALANCES
(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
Trade receivables 159.06 221.22
Contract liabilities (advance received from residential estates customers) 461.08 110.05
Contract assets (brokerage on sale of real estates inventories) 56.12 17.77

Significant changes in the contract assets and the contract liabilities during the year are as follows
(` in Crores)
Particulars
31 March 2023 31 March 2022
Contract assets
Opening balance 17.77 -
Brokerage paid during the year and not recognized as expenses 38.35 17.77
Closing balance 56.12 17.77
Contract liabilities
Opening balance 110.05 -
Advance received during the year and not recognized as revenue 351.03 110.05
NOTE 21D RECONCILING THE AMOUNT OF REVENUE RECOGNISED IN THE STATEMENT OF PROFIT AND LOSS WITH THE
CONTRACTED PRICES
Revenue as per contract price 4687.25 4017.82
Adjustments
Discount 146.64 126.77
Revenue from contract with customers 4540.61 3891.05
NOTE 21E REMAINING PERFORMANCE OBLIGATION

In case of residential units, the Company satisfies the performance obligation and recognises revenue at a point in time i.e.,
upon handover of the residential units. Since the said performance obligation is not satisfied as at March 31, 2023, no revenue
has been recognised by the Company on sale of residential units. The Company expects to recognise revenue on sale of
residential units in the following time band:
(` in Crores)

Particulars
31 March 2023 31 March 2022
Time band
More than 3 years 2359.56 1237.59
Less than 3 years - -

NOTE 22 OTHER INCOME
(` in Crores)
Particulars
31 March 2023 31 March 2022
Dividend on FVTPL Investments 2.93 1.56
Dividend on FVTOCI Investments 1.76 1.70
4.69 3.26
Interest Income :
Non current investments at amortised cost 0.57 0.66
Other interest income 39.55 31.39
40.12 32.05
Gain on foreign currency fluctuations and translations (net) - 7.07
Provision for interest written back # - 11.37
Surplus on sale of property plant and equipments (net) 0.81 1.54
Management consultancy fees 5.13 4.56
Miscellaneous Income 10.79 7.76
Total 61.54 67.61
# Provision towards interest on expected unfulfillment of export obligation has been written back.
NOTE 23 COST OF MATERIALS CONSUMED
(` in Crores)
Particulars
31 March 2023 31 March 2022
Raw material consumed
Opening stock 160.36 134.00
Add: Purchases 2377.32 1843.32
2537.68 1977.32
Less: Closing stock (252.91) (160.36)
2284.77 1816.96
Dyes, colour and chemicals consumed
348.26 367.87
339.16 350.44
Packing materials consumed
111.66 117.69
107.44 108.90
Total 2731.37 2276.30

NOTE 24 PURCHASE OF TRADED GOODS
(` in Crores)

Particulars
31 March 2023 31 March 2022
Purchase of traded goods 44.64 223.53
NOTE 25 CHANGES IN INVENTORIES OF FINISHED GOODS, WORK-IN-PROGRESS AND STOCK-IN-TRADE
(` in Crores)

Particulars
31 March 2023 31 March 2022
Opening stock :-
Finished goods 91.88 77.41
Work-in-progress 235.40 182.80
Stock-in-trade 0.73 0.95
328.01 261.16
Closing stock :-
388.95 328.01
(60.94) (66.85)
Less: Sale of raw materials - (10.14)
Total (60.94) (56.71)
NOTE 26 EMPLOYEE BENEFITS EXPENSE
(` in Crores)

Particulars
31 March 2023 31 March 2022
Salaries, wages, bonus, etc. 236.45 231.73
Contributions to provident and other funds (Refer Note 36) 14.13 14.01
Gratuity expenses (Refer Note 36) 4.01 3.93
Staff welfare expenses 12.03 12.92
Total 266.62 262.59

NOTE 27 FINANCE COST
(` in Crores)
Particulars
31 March 2023 31 March 2022
Interest on debts and borrowings 107.06 95.86
Unwinding of discount and effect of change in discount rate on provisions 9.70 9.16
Interest on lease liabilities (Refer Note 45) 1.88 1.88
118.64 106.90
Less: Borrowing costs inventorized (Refer Note below) (29.45) (31.87)
Total 89.19 75.03
Note :
The interest rate used to determine the amount of borrowing cost capitalised and inventorized is the weighted average interest
rate applicable to the entity’s general borrowings during the year i.e. 8.00% (31 March 2022 8.00%)
NOTE 28 DEPRECIATION AND AMORTIZATION EXPENSE
(` in Crores)
Particulars
31 March 2023 31 March 2022
Depreciation of property plant and equipments (Refer Note 3) 188.27 192.71
Depreciation on Investment properties (Refer Note 4) 32.49 33.54
Amortization of Intangible assets (Refer Note 5) 2.04 1.80
Total 222.80 228.05
NOTE 29 OTHER EXPENSES
(` in Crores)
Particulars
31 March 2023 31 March 2022
Consumption of stores and spares 91.31 91.44
Job work charges 21.46 19.28
Power, fuel and water 680.61 485.50
Buildings repairs 30.68 24.65
Machinery repairs 29.72 20.47
Rent 2.03 1.42
Rates and taxes 15.92 15.49
Insurance 22.48 20.75
Freight, forwarding, octroi, etc. 98.70 46.06
Advertisement and publicity 12.39 13.63
Commission 9.38 12.25
Brokerage, discounts, incentives etc. 3.89 2.97
Commission to non executive directors 2.00 2.00
Director’s fees and travelling expenses 0.20 0.10
Provision for doubtful debts and advances 17.64 1.67
Miscellaneous expenses (Refer below notes A & B) 129.21 128.86
Total 1167.62 886.54

NOTE A AUDITORS’ REMUNERATION:
(` in Crores)
Particulars
31 March 2023 31 March 2022
Statutory Auditors
As auditors:
Audit fees 1.20 1.11
Tax audit fees 0.12 0.10
Limited review 0.18 0.17
In other capacity:
Certificates and other services 0.03 0.04
Reimbursement of expenses 0.04 0.02
1.57 1.44
NOTE B DETAILS OF CORPORATE SOCIAL RESPONSIBILITY AS PER SECTION 135 (5) OF ACT AND RULES MADE
THEREUNDER:
(` in Crores)

Particulars
31 March 2023 31 March 2022
Amount required to be spent by the Company during the year 4.45 7.38
Amount of expenditure incurred 5.18 11.75
Shortfall / (excess spend) at the end of the year (0.73) (4.37)
Total of previous years shortfall 0.73 5.10
Cumulative shortfall as at year end - 0.73
Reason for shortfall of previous year- The shortfall was due to time required for
construction, procurement, training etc. and slowdown caused by CoVID 19
Nature of CSR activities - Projects on health (incl. CoVID 19), education, livelihood
and skill projects
The movement in the provision during the year is as under:
Opening liability 0.73 5.10
Provision recognised for the year 4.45 7.38
Amount spent during the year (5.18) (11.75)
Closing liability - 0.73
30 HEDGING ACTIVITIES AND DERIVATIVES
Derivatives not designated as hedging instruments

The Company uses foreign currency denominated borrowings and foreign exchange forward contracts to manage some of its
transaction exposures. The foreign exchange forward contracts are not designated as cash flow hedges and are entered into
for periods consistent with foreign currency exposure of the underlying transactions, generally from 1 to 12 months.

Derivatives designated as hedging instruments
Cash flow hedges
Foreign currency risk:

Foreign exchange forward contracts are designated as hedging instruments in cash flow hedges against forecast sales /
purchases in US dollars. This forecast transactions are highly probable since purchase order already issued / projection of
counter party available with the Company and hence expected to be utilised in near term. The foreign exchange contract
balances vary with the level of expected foreign currency sales / purchases and changes in foreign exchange forward rate. The
long term swap by way of foreign currency sales has been done on the basis of historical business with buyers and comprises
50% of projected sales.
31 EARNINGS PER SHARE (EPS):
(` in Crores)
Particulars
31 March 2023 31 March 2022
a) For continuing operations
Profit attributable to equity shareholders for basic & diluted EPS 368.31 199.79
Weighted average number of equity shares for basic & diluted EPS 11,16,95,680 11,16,95,680
Basic & diluted earnings per equity share of ` 10 each (31 March 2022 ` 10
each) (in Rupees) 32.98 17.89
b) For discontinued operations
Profit attributable to equity shareholders for basic & diluted EPS - 7.54
each) (in Rupees) - 0.68
c) For continuing & discontinued operations
each) (in Rupees) 32.98 18.57
32 Revenue expenditure on research and development activities relating to Government recognised in-house research
and development laboratories incurred and charged out during the year through the natural heads of account,
aggregate ` 4.35 crores (31 March 2022: ` 3.83 crores).
33 During the financial year 2017-18, the Company had entered into an agreement with Grasim Industries Limited (‘GIL’)
granting right to manage and operate the Company’s Viscose Filament Yarn (‘VFY’) business, which is part of Textile
segment, for a duration of 15 years commencing from February 1, 2018. As a part of consideration, GIL has paid an
upfront Royalty of ` 605.00 crores. In addition GIL has also paid the carrying value of net working capital and the interest
free security deposit of ` 200.00 crores which is repayable after 15 years. With effect from February 1, 2018, GIL have right
to use the VFY business assets including its intangible assets for a period of 15 years from the above date. The Company
is recognizing royalty income over the period of 15 years.
Pursuant to the agreement, GIL shall incur all capital expenditure and commitments involving capital expenditure as may
be necessary for the proper, optimum and profitable operation of the VFY Business. In this regard, Company has agreed
that all improvement/ capital expenditure done by GIL during the tenure of agreement will be transferred to the Company,
at such fair value as may be agreed between the Company and GIL.

34 TRADE PAYABLES
(i) ` 17.04 Crore (31 March 2022 ` 10.71 Crore) due to micro and small enterprises registered under the Micro, Small and
Medium Enterprises Development Act, 2006 (MSMED Act). There are no other amounts paid / payable towards interest /
principal under the MSMED; and
(ii) The above information has been determined to the extent such parties have been identified on the basis of the information
available with the Company regarding the status of suppliers under the MSMED Act.
35 DISCONTINUED OPERATIONS
Yarn and Denim division (sold during the previous year)

During the previous year ended 31 March 2022, the Company has sold all the assets of its Yarn and Denim division (‘Y&D’) to
a third party for a consideration of ` 62.00 crore and has recognised a gain of ` 17.63 crore net of provision for termination
benefits and other restructuring costs.
i) Gain on Sale of Yarn & Denim division

(` in Crores)
Particulars 31 March 2022
Sale consideration 62.00
Less:
Sale related expenses 12.78
Net asset / (liabilities) of demerged undertaking 2.45
Additional liabilities recognised pertaining to demerged undertaking 34.04
Gain on sale of Yarn & Denim Division 17.63
ii) The Results of Yarn & Denim Division upto July 14, 2021
(` in Crores)
Revenue including other income -
Expenses (7.04)
Loss before income tax (7.04)
Income tax expense / (credit) (2.46)
Loss after income tax (4.58)
35A EXCEPTIONAL ITEMS

During the year ended 31 March 2023, the Company has transferred its leasehold land in Gujarat to Grasim Industries Limited
for a consideration of ` 215.85 Crores resulting in a net gain of ` 134.21 Crores as an exceptional item after adjusting non-usage
charges amounting to ` 21.64 Crores and transfer fees amounting to ` 37.52 Crores paid to Gujarat Industrial Development
Corporation. Further, tax on such gain amounting to ` 25.64 Crores is included in the current tax for the year.
36 DISCLOSURES PURSUANT TO - “EMPLOYEE BENEFITS”
(a) Defined Contribution Plans:

The Company’s contribution to Provident Fund and Superannuation Fund aggregating ` 5.92 Crores (31 March 2022:
` 5.06 Crores) has been recognised in the Statement of Profit and Loss under the head Employee benefits expense.

36 DISCLOSURES PURSUANT TO - “EMPLOYEE BENEFITS” (Continued)

(b) Defined Benefit Plans:
(i) Gratuity
The Company has a defined benefit gratuity plan (funded).The Company’s defined benefit gratuity plan is a final
salary plan for employees, which requires contributions to be made to a separately administered fund. The gratuity
plan is governed by the Payment of Gratuity Act, 1972. Under the Act, employee who has completed five years of
service is entitled to specific benefit. The level of benefits provided depends on the member’s length of service
and salary at retirement age. The fund has the form of a trust and it is governed by the Board of Trustees, which
consists of an equal number of employer and employee representatives. The Board of Trustees is responsible for the
administration of the plan assets and for the definition of the investment strategy.
Each year, the Board of Trustees reviews the level of funding in the gratuity plan. Such a review includes the asset-
liability matching strategy and investment risk management policy. This includes employing the use of annuities
and longevity swaps to manage the risks. The Board of Trustees decides its contribution based on the results of this
annual review. Generally, it aims to have a portfolio mix of equity instruments, property and debt instruments. The
Board of Trustees aim to keep annual contributions relatively stable at a level such that no plan deficits (based on
valuation performed) will arise.
The significant actuarial assumptions used for the purposes of the actuarial valuations were as follows:
(` in Crores)
Valuation as at
Particulars
31 March 2023 31 March 2022
Employee Attrition rate 2% to 3% 2% to 5%
Discount rate 7.40% 6.80%
Expected rate of salary increase 3% to 6% 3% to 6%
Defined benefit plans – as per actuarial valuation on 31 March 2023

(` in Crores)
Funded Plan
Particulars Gratuity
31 March 2023 31 March 2022
I. 1 Expense recognised in the Statement of profit and loss
Service cost
Current service cost 4.08 4.03
Net interest expense (0.07) (0.10)
Components of defined benefit costs recognised in profit or loss 4.01 3.93
2 Included in Other Comprehensive Income
Remeasurement gain (1.23) (0.02)
Return on plan assets (0.60) (0.95)
Remeasurement gain (1.83) (0.97)
II. Net asset / (liability) recognised in the Balance Sheet
1. Present value of defined benefit obligation 52.21 54.04
2. Fair value of plan assets 53.03 53.64
Net asset / (liability) 0.82 (0.40)

(` in Crores)
Funded Plan
31 March 2023 31 March 2022
III. Change in the obligation during the year
1. Present value of defined benefit obligation at the beginning of
the year 54.04 52.98
2. Expenses recognised in profit and loss account:
- Current service cost 4.08 4.03
- Interest expense 3.40 3.28
3. Recognised in Other Comprehensive Income
Remeasurement gains / (losses):
i. Financial assumptions (1.77) (0.64)
ii. Experience adjustments 0.53 0.62
4. Benefit payments (8.07) (11.91)
5. Transfer in / (out) - 5.68
Present value of defined benefit obligation at the end of the year 52.21 54.04
IV. Change in fair value of assets during the year
1. Fair value of plan assets at the beginning of the year 53.64 54.39
2. Expenses recognised in profit and loss account
- Expected return on plan assets 3.47 3.38
Remeasurement gains / (losses)
- Actual return on plan assets in excess of the expected return 0.60 0.95
4. Contributions by employer (including benefit payments 3.39 6.83
recoverable)
Fair value of plan assets at the end of the year 53.03 53.64
Expected contribution during next annual reporting period ` 3.28 crores (31 March 2022 ` 3.82 Crores)
The sensitivity of the defined benefit obligation to changes in the weighted principal assumptions is:
(` In Crores)
Impact on defined benefit
Changes in obligation
Principal assumption
assumption Increase in Decrease in
assumption assumption
Discount rate 31-Mar-23 1% (2.68) 3.03
31-Mar-22 1% (2.86) 3.22
Salary growth rate 31-Mar-23 1% 3.01 (2.70)
31-Mar-22 1% 3.19 (2.89)
Withdrawal rate 31-Mar-23 1% 0.43 (0.49)
31-Mar-22 1% (1.55) 1.01


Maturity profile of defined benefit obligation for the next 10 years (Undiscounted amount) :
(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
Within 1 year 8.36 7.42
1 - 2 year 5.85 7.32
2 - 3 year 6.84 5.54
3 - 4 year 5.70 6.32
4 - 5 year 5.96 5.73
Above 5 years 21.73 22.76
Total 54.44 55.09
The fair value of Company’s plan asset by category are as follows:
(` in Crores)
As at As at
Asset category
31 March 2023 31 March 2022
Cash and cash equivalents 0.10 0.10
Debt instruments (quoted) 51.32 53.28
Equity instruments (quoted) 0.22 0.24
Deposits with Insurance companies 1.39 0.02
Total 53.03 53.64

The weighted average duration of the defined benefit obligation as at 31 March 2023 is 8.30 years (31 March 2022
11.48 years)
(ii) Provident Fund

In case of certain employees, the Provident fund contribution is made to trusts administered by the Company. In
terms of guidance note issued by the Institute of Actuaries of India, the Actuary has provided a valuation of Provident
fund liability based on the assumptions listed and determined that there is no shortfall as at 31 March 2023.
The assumptions used in determining the present value of obligation of the interest rate guarantee under deterministic
approach are:
(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
Guaranteed interest rate 8.15% 8.10%
Discount rate for the remaining term to maturity of interest portfolio 8.50% 8.79%
Contribution during the year 7.12 7.99

37 PROVISION FOR DISPUTED MATTERS

Provision for disputed matters in respect of known contractual risks, litigation cases and pending assessments in respect of
taxes, duties and other levies / claims, the actual outflow of which will depend on the outcome of the respective proceedings.
The movements in the above account are summarized below:-
(` in Crores)
As at Amounts Amounts As at
S 31 March 2022 provided for utilised / 31 March 2023
Nature of liability
No. during the year written back
during the year
1 Water Charges 95.32 1.80 1.79 95.33
2 Octroi Duty 38.54 - - 38.54
3 Others 20.88 0.55 0.08 21.35
Total 154.74 2.35 1.87 155.22
(` in Crores)
1 April 2021 Amounts Amounts As at
S provided for utilised / 31 March 2022
Nature of liability
during the year
1 Water Charges 105.90 3.15 13.73 95.32
2 Octroi Duty 38.54 - - 38.54
3 Towards Employee Benefit 25.49 - 25.49 -
4 Others 20.34 0.54 - 20.88
Total 190.27 3.69 39.22 154.74
38 CONTINGENT LIABILITIES
(i) Contingent liabilities (to the extent not provided for)

(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
Contingent liabilities - Continuing Operations
(a) (i) Claims against the Company not acknowledged as debts in respect
of :
- Custom Duty and Excise Duty 11.22 11.01
- Sales Tax and Entry Tax 11.00 10.27
- Others 6.29 6.05
(ii) Claims not acknowledged as debts jointly with other members of
“Business Consortium of Companies” in which the Company had an
interest (proportionate) 26.51 24.86
(b) Disputed income tax matters under appeal 133.34 115.44
(c) Indirect exposure upon the Company
- Guarantee given 200.00 200.00
(d) The Code on Social Security, 2020 (‘Code’) relating to employee benefits
during employment and post-employment benefits received Presidential
assent in September 2020. The Code has been published in the Gazette of
India. However, the date on which the Code will come into effect has not
Amount not Amount not
been notified and the final rules/interpretation have not yet been issued.
determinable determinable
The Company will assess the impact of the Code when it comes into
effect and will record any related impact in the period the Code becomes
effective. Based on a preliminary assessment, the entity believes the
impact of the change will not be significant.

38 CONTINGENT LIABILITIES (Continued)

The amounts shown above represents the best possible estimates arrived at on the basis of available information. The
uncertainties are dependent on the outcome of the different legal processes. The timing of future cash flows will be
determinable only on receipt of judgments / decisions pending with various forums/authorities. The Company does not
expect any reimbursements against the above.
39 COMMITMENTS
(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
Capital commitments
Estimated amount of contracts remaining to be executed on capital account and not
provided for (Net of advances) 50.56 35.82
(a) Other commitments
The Company has imported capital goods under the Export promotion capital
goods scheme, of the Government of India, at concessional rates of duty on an
undertaking to fulfill quantified exports in the future years 74.70 165.78
40 RELATED PARTY DISCLOSURE
1 Relationships :
(a) Where significant influence exists :

(i) M/s Pilani Investment and Industries Corporation Limited (As a Shareholder of the Company directly & indirectly)
(b) Where control exists :

Birla Estates Private Limited
Birla Century Exports Private Limited
Avarna Projects LLP
Birla Tisya LLP
Birla Arnaa LLP
(c) Where Joint control exists :

Birla Advanced Knits Private Limited (Joint Venture)
(d) Key Management Personnel (KMP) :
Managing Director :
Shri J. C. Laddha (upto 11.08.2022)
Shri R. K. Dalmia (w.e.f.12.08.2022)
Whole-time Director :
Shri R. K. Dalmia (upto 11.08.2022)

40 RELATED PARTY DISCLOSURE (Continued)

Non Executive Directors
Smt. Rajashree Birla
Shri Rajan A Dalal
Shri Yazdi P Dandiwala
Shri Sohanlal Kundanmal Jain
Smt. Preeti Vyas
Shri J. C. Laddha (From 12.08.2022 to 28.09.2022)
(e) Other Related Parties (Company Managed Funds)
(i) Pension & Provident Fund of Century Textiles & Industries Limited
- Pension And Provident Fund Of Century Textiles And Industries Limited
(ii) Gratuity Fund of Century Textiles & Industries Limited

- Century Textiles And Industries Limited Employees Gratuity Fund
(iii) Superannuation Fund of Century Textiles & Industries Limited

- Century Textiles And Industries Limited (Textiles Division) Superannuation Scheme
(iv) CTIL Employee Welfare Trust
(f) Other Related Parties

Industry House Ltd.
The following table provides the total amount of transactions that have been entered into with related parties for the
relevant financial period are disclosed below:
(` in Crores)
For the Associates Where Where KMP & Company Other

Transactions With Related year (a) control Joint Directors of Managed Related
Parties ended exists control the Company Funds (e) Parties
(b) exists (c) (d) (f)
Nature of transactions with

Related Parties
Pension & Provident fund of 31-Mar-23 - - - - 7.12 -

Century Textiles & Industries
31-Mar-22 - - - - 7.99 -
Ltd.
Century Textiles & Industries 31-Mar-23 - - - - 3.40 -

Ltd. Employee Gratuity Fund
31-Mar-22 - - - - 6.82 -

(` in Crores)
For the Associates Where Where KMP & Company Other

Transactions With Related year (a) control Joint Directors of Managed Related
Parties ended exists control the Company Funds (e) Parties
Century Textiles & Industries 31-Mar-23 - - - - 0.37 -

Ltd. (Textiles Division)
31-Mar-22 - - - - 0.42 -
Superannuation Scheme
Remuneration to Whole time 31-Mar-23 - - - 6.98 - -

Director & Managing Director
31-Mar-22 - - - 7.34 - -
Sitting fees to independent 31-Mar-23 - - - 0.20 - -

and non executive directors
31-Mar-22 - - - 0.10 - -
Commission to non whole 31-Mar-23 - - - 2.00 - -

time directors
31-Mar-22 - - - 2.00 - -
Sale of Goods 31-Mar-23 - 1.60 1.02 - - -
31-Mar-22 - 5.80 - - - -
Other Transactions (Income) 31-Mar-23 - 34.93 1.69 - - -
31-Mar-22 - 25.44 0.77 - - -
Purchase of Goods 31-Mar-23 - - 0.36 - - -
31-Mar-22 - - - - - -
Other Transactions (Expenses) 31-Mar-23 14.79 3.85 0.23 - - 2.37
31-Mar-22 3.70 3.57 - - - 0.47
Deffered Revenue 31-Mar-23 - 30.28 - - - -
31-Mar-22 - 15.04 - - - -
Development Management 31-Mar-23 - 37.79 - - - -

Fees (Inventorised)
31-Mar-22 - 59.27 - - - -
Loan Given 31-Mar-23 - 224.00 - - - -
31-Mar-22 - 50.15 - - - -
Investment 31-Mar-23 - - 10.00 - 0.00 -
31-Mar-22 - 33.45 15.00 - - -
Reimbursement of Expenses 31-Mar-23 - - - - - -
31-Mar-22 - - 0.12 - - -

(` in Crores)
Balance Associates Where Where KMP & Company Other

Balances Receivable / as at (a) control Joint Directors of Managed Related
(Payable) with Related Parties exists control the Company Funds (e) Parties
Pension & Provident fund of 31-Mar-23 - - - - (0.57) -

31-Mar-22 - - - - (0.66) -
Ltd. - Payable
Commission to non whole 31-Mar-23 - - - (2.00) - -

time directors - Payable
31-Mar-22 - - - (2.00) - -
Sale of Goods - Receivable 31-Mar-23 - 3.52 1.08 - - -
31-Mar-22 - 5.20 - - - -
Other Transactions (Income) - 31-Mar-23 - - 1.51 - - -

Receivable
31-Mar-22 - - - - - -
Purchase of Goods - Payable 31-Mar-23 - - (0.37) - - -
31-Mar-22 - - - - - -
Other Transactions (Expenses) 31-Mar-23 - (0.23) - - (2.14)

- Payable
31-Mar-22 - - - - (0.02)
Deffered Revenue - Receivable 31-Mar-23 - 4.93 - - - -
31-Mar-22 - 2.34 - - - -
Development Management 31-Mar-23 - (4.92) - - - -

Fees (Inventorised) - Payable
31-Mar-22 - (5.47) - - - -
Loan Given - Receivable 31-Mar-23 - 566.12 - - - -
31-Mar-22 - 342.12 - - - -
Investment - Receivable 31-Mar-23 200.50 25.00 - 0.00 26.79
31-Mar-22 200.50 15.00 - - 27.38
Deposit 31-Mar-23 - - (15.00) - - -
31-Mar-22 - - - - - -
Guarantee Given 31-Mar-23 - 200.00 - - - -
31-Mar-22 - 200.00 - - - -
* Key Managerial Personnel are entitled to post-employment benefits and other long term employee benefits
recognised as per Ind AS 19 - ‘Employee Benefits’ in the financial statements. As these employee benefits are
lump sum amounts provided on the basis of actuarial valuation, the same is included above on payment basis.

41 SEGMENT INFORMATION
A. Information about Business Segment - Primary

(` in Crore)
S. Textiles Pulp and Paper Real Estate Others Total
Particulars
No. 2022-23 2021-22 2022-23 2021-22 2022-23 2021-22 2022-23 2021-22 2022-23 2021-22
1 Segment Revenue
Sales of products 996.74 1086.35 3571.71 2817.79 138.07 139.21 9.40 24.79 4715.92 4068.14
Less: Inter Segment Revenue - - - - 0.60 0.66 - - 0.60 0.66

Net Sales from Continuing Operations 996.74 1086.35 3571.71 2817.79 137.47 138.55 9.40 24.79 4715.32 4067.48
2 Result
Segment Result of Continuing Operations (27.85) 42.30 464.25 296.42 48.87 42.39 1.89 4.77 487.16 385.88
487.16 396.47
Company Overview
3 Other Information
Segment Assets 935.66 1000.39 3040.05 2979.22 2270.74 2008.04 23.61 36.16 6270.06 6023.81
Add: Unallocated common Assets 1198.99 1141.84
Total Assets 7469.05 7165.65
Segment Liabilities 1053.00 1101.83 525.46 540.03 827.06 321.09 12.13 12.81 2417.65 1975.76
Add: Unallocated Common Liabilities 866.86 1270.80
Total Liabilities 3284.51 3246.56
4 Capital Expenditure during the year
Statutory Reports
(excluding advances) 45.48 17.59 78.00 127.60 11.63 10.57 - - 125.11 155.85
Add: Unallocated Capital Expenditure - -
125.11 155.85
5 Depreciation and amortisation 46.45 45.32 140.98 146.99 34.33 35.23 0.15 0.13 221.91 227.67
Add: Unallocated Depreciation 0.89 0.38
222.80 228.05
Adjustments & Eliminations:

Finance income and costs, and fair value gains and losses on financial assets are not allocated to individual segments as the underlying instruments are managed on a
group basis.
Current taxes, deferred taxes and certain financial assets and liabilities are not allocated to those segments as they are also managed on a group basis.
361
Capital expenditure consists of additions of property, plant and equipment, intangible assets and investment properties.
41 SEGMENT INFORMATION (Continued)

B. Reconciliation of profit
(` in Crores)
Particulars
31 March 2023 31 March 2022
Segment profit [A] 487.16 385.88
Unallocable income / (expense) [B]:
Employee benefits expense (18.04) (15.09)
Depreciation & amortisation expense (0.89) (0.38)
Other expense (38.67) (35.12)
Other income 189.29 41.39
Total 131.69 (9.20)
Finance cost [C] (89.19) (75.03)
Profit before tax from continuing operations [A+B+C] 529.66 301.65
Add/(Less): Taxes
Income Tax charge (161.35) (101.86)
Profit after tax from continuing operations 368.31 199.79
Profit from Discontinued Operations - 10.59
Add/(Less): Taxes
Income Tax charge - (3.05)
Profit after tax from discontinuing operations - 7.54
Profit for the year 368.31 207.33
C. Reconciliation of assets & liabilities

(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
I (A) Segment operating assets 6270.06 6023.81
Unallocated assets
(B) Non-current assets
Property, plant and equipments 38.25 35.73
Financial assets
Non-current investments 427.11 478.69
Loans 566.12 342.12
Other financial assets 8.08 48.49
Deferred tax assets - 5.50
Non current tax 54.74 50.23
Other non current assets 1.03 1.08
Total non-current assets (B) 1095.33 961.84
(C) Current assets
Financial assets
Bank balances other than above cash & cash equivalents 61.30 19.39

(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
Investments 3.00 131.00
Others 10.12 7.34
Other current assets 5.86 4.39
Total current assets (C) 103.66 180.00
Total unallocated assets (B+C) 1198.99 1141.84
TOTAL ASSETS (A + B + C) 7469.05 7165.65
II (A) Segment Operating Liabilities 2417.65 1975.76

Unallocated liabilities
(B) Non-current liabilities
Financial liabilities
Borrowings 399.09 306.88
Lease liabilities 19.34 18.46
418.43 325.34
Deferred tax liability (Net) 63.65 -
Total non-current liabilities (B) 482.08 325.34
(C) Current liabilities
Current borrowings 325.83 887.38
Lease liabilities 2.26 2.30
328.09 889.68
Trade payables 36.76 39.48
Other financial liabilities 8.81 8.16
Other current liabilities 8.79 5.41
Provisions 2.33 2.73
Total current liabilities (C) 384.78 945.46
Total unallocated liabilities (B+C) 866.86 1270.80
Total LIABILITIES (A+B+C) 3284.51 3246.56
D. Secondary segment
I Geographic information
(` in Crores)
Particulars
31 March 2023 31 March 2022
Revenue from external customers
India 4278.38 3410.40
Total revenue from continuing operations 4715.32 4067.48


II Non-current operating assets:
(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
India 4121.82 4260.20
Outside India - -
Total 4121.82 4260.20
Non-current assets for this purpose consist of property, plant and equipment, investment properties and intangible
assets.
E. Revenue from major products and services

The following is an analysis of the Company revenue from continuing operations from its major products and services:
(` in Crores)
Sale of Products
31 March 2023 31 March 2022
Cotton Fabric & Yarn 946.76 1036.37
Pulp & Paper (including paper board / straw board) 3571.71 2817.79
Others 9.40 24.79
Rental income including common area maintenance charges 187.45 188.53
Total 4715.32 4067.48
Composition of the business segment

Name of the Segment Types of products / services Comprises of :
a. Textiles Yarn, Fabric, leasing of Viscose Filament Yarn and Tyre Yarn (Yarn and Denim included in
Discontinued Operations and sold during the previous year)
b. Pulp and Paper Pulp, writing & printing paper , tissue paper and multilayer packaging board
c. Real Estate Leased Properties & real estate development
d. Others Salt works and Chemicals
F. The Board of Directors monitors the operating results of its business units separately for the purpose of making decisions
about resource allocation and performance assessment.
G. No single customer contributed 10% or more to the Company’s revenue for the year ended 31 March 2023 and 31 March
2022
H. The accounting policies of the reportable segments are the same as the Company’s accounting policies described in
note 2A.
Segment profit represents the profit before finance cost and tax earned by each segment without allocation of central
administration costs and directors’ salaries, investment income and finance costs. This is the measure reported to the
chief operating decision maker for the purposes of allocation and assessment of segment performance.
42 CAPITAL MANAGEMENT
For the purpose of the Company’s capital management, equity includes issued equity capital, convertible preference shares,
share premium and all other equity reserves attributable to the equity holders of the Company. The primary objective of the
Company’s capital management is to maximize the shareholder value. The Company’s Capital Management objectives
are to maintain equity including all reserves to protect economic viability and to finance any growth opportunities that may
be available in future so as to maximize shareholders’ value. The Company is monitoring capital using debt equity ratio
as its base which is debt to equity. The Company’s policy is to keep debt equity ratio below two and infuse capital if and

42 CAPITAL MANAGEMENT (Continued)

when required through issue of new shares and/or better operational results and efficient working capital management.
Debt-to-equity ratio are as follows:
(` in Crores)
Particulars 31 March 2023 31 March 2022
Debt (including lease liability) (A) 925.47 1215.02
Equity (B) 4184.54 3919.09
Debt to Equity Ratio (A / B) 0.22 0.31
43 FINANCIAL RISK MANAGEMENT FRAMEWORK

The Company’s principal financial liabilities, other than derivatives, comprise loans and borrowings, trade and other
payables. The Company’s principal financial assets include loans, trade and other receivables and cash and cash
equivalents that derive directly from its operations. The Company also holds FVTOCI investments and enters into
derivative transactions.
The Company is exposed to market risk, credit risk and liquidity risk. The Company’s senior management oversees these
risks management. The Company’s senior management provides assurance that the Company’s financial risk activities
are governed by appropriate policies and procedures and that financial risks are identified, measured and managed in
accordance with the company’s policies and risk objectives. All derivative activities for risk management purposes are
carried out by teams that have the appropriate skills, experience and supervision. The Board of Directors reviews and
agrees policies for managing each of these risks, which are summarised below.
A. Credit Risk
Credit risk is the risk that counter party will not meet it obligation under a financial instrument or customer contract
leading to a financial loss. The Company is exposed to credit risk mainly from trade receivables and other financial
assets. The Company only deals with parties which has good credit ratings / worthiness based on company’s internal
assessment.
The Company has divided parties in two grades based on their performance.
Good: parties with a positive external rating (if available) and stable financial position with no past default is
considered in this category.
Doubtful: parties where the company doesn’t have information on their financial position or has past trend of default
are considered under this category.
The Company has not acquired any credit impaired asset. There was no modification in any financial assets.
(i) Trade receivables

Customer credit is managed by each business division subject to the Company’s established policy procedures
and control related to customer credit risk management.
Export customers are mainly against Letter of Credit and/or insurance cover on export outstanding is also
taken. Generally deposits are taken from domestic debtors. Apart from deposit there is a commission agent
area wise. In case any customer defaults the amount is first recovered from deposits, then from the agent’s
commission. Each outstanding customer receivables are regularly monitored and if outstanding is above due
date the further shipments are controlled and can only be released if there is a proper justification. The carrying
amount and fair value of security deposit amounts to ` 73.69 crores (31 March 2022: ` 53.11 crores) as it is
payable on demand.
The Company evaluates the concentration of risk with respect to trade receivables as low, as its customers
are located in several jurisdictions and industries and operate in largely independent markets and their credit
worthiness are monitored at periodical intervals. The maximum exposure to credit risk at the reporting date is
the carrying value of each class of financial assets.

43 FINANCIAL RISK MANAGEMENT FRAMEWORK (Continued)

The Company has recognised loss allowance provision on trade receivables amounting to ` 14.49 Crs during
the year (31 March 2022 ` 1.60 Crs) as there was no reasonable expectations of recovery and were outstanding
for more than 360 days from becoming due.
(` in Crores)
Less Then More Then
As at 31 March 2023
180 Days 180 Days
Expected loss rate 0.00% 49.51%
Gross carrying amount 134.40 48.84
Loss allowance provision - 24.18
(` in Crores)
Less Then More Then
As at 31 March 2022
180 Days 180 Days
Reconciliation of loss allowance provision for trade receivables
(` in Crores)
Balance as at beginning of the year 13.31 11.71
On receivables originated in the year 14.49 1.60
Amounts recovered / written back during the year (3.62) -
Balance at end of the year (continuing operations) 24.18 13.31
(ii) Other Financial Assets

Credit risk from balances with banks is managed by Company’s treasury department in accordance with the
Company policy. Investment of surplus funds are made only in approved Mutual Funds and that too in liquid
funds. As soon as the fund reaches to a reasonable level the Company repay its working capital borrowing
by redeeming the liquid fund. The other financial assets are from various forum of Government authorities
and are released by Government authorities on completion of relevant terms and conditions for the release of
outstanding.
B. MARKET RISK
Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of
changes in market prices. Market risk comprises of three types of risks – interest rate risk, currency risk and other
price risk in a fluctuating market environment. Financial instrument affected by market risks includes loans and
borrowings, deposits, FVTOCI Investments, derivatives and other financials assets.
The Company has designed risk management frame work to control various risks effectively to achieve the business
objectives. This includes identification of risk, its assessment, control and monitoring at timely intervals.
The sensitivity analyses in the following sections relates to the outstanding balance as at 31 March 2023 and 31
March 2022
The sensitivity analyses have been prepared on the basis that the amount of net debt, the ratio of fixed to floating
interest rates of the debt and derivatives and the proportion of financial instruments in foreign currencies are all
constant in place at 31 March 2023.


The sensitivity of the relevant profit or loss item is the effect of the assumed changes in respective market risks. This
is based on the financial assets and financial liabilities held at 31 March 2023 and 31 March 2022
(i) Currency Risk

This is the risk that the Company may suffer losses as a result of adverse exchange rate movement during
the relevant period. As a policy, Company is covering all foreign exchange risk on account of import and loans
so that Company may not be put to any loss situation due to adverse fluctuations in currency rates. There is
periodical review of foreign exchange transactions and hedging by the Company’s executives.
Foreign Currency Sensitivity

The following tables demonstrate the sensitivity to a reasonably possible change in USD, EUR and GBP exchange
rates, with all other variables held constant. The impact on the Company’s profit before tax is due to changes
in the fair value of monetary assets and liabilities including non-designated foreign currency derivatives. The
Company evaluates exchange rate exposure arising from foreign currency transactions. The company follows
established risk management policies and standard operating procedures. The company’s exposure to foreign
currency changes for all other currencies is not material.
(` in crores)
Currency Change in rate Effect on profit
before tax
31 March 2023 USD +5% 2.63
USD -5% (2.63)
EUR +5% (0.03)
EUR -5% 0.03
31 March 2022 USD +5% (5.57)
USD -5% 5.57
EUR +5% (0.61)
EUR -5% 0.61

Foreign ` in crore Foreign ` in crore
Outstanding foreign currency exposures
Currency Currency
(in millions) (in millions)
Trade Receivables
USD 2.30 18.87 0.39 2.71
Trade Payables
USD 7.16 58.83 21.95 165.81
Euro 0.07 0.61 1.42 12.13
Others 0.03 0.23 0.02 0.15
The following table gives details in respect of outstanding foreign exchange forward contracts
Forward Contracts Buy / Sell 31 March 2023
Foreign Currency Nominal value Fair value
(in millions) (` in Crores) (` in Crores)
In USD Buy 11.22 92.53 0.31


(in millions) (` in Crores) (` in Crores)
In USD Sell 6.80 51.65 0.12
(ii) Interest rate risk

The Company manages interest rate risk by having a balanced portfolio of fixed and variable rate of interest on
loans and borrowings. To manage this, Company has issued fixed rate bonds and loans taken from banks are
linked to MCLR rate of the bank, which are variable.
Interest rate sensitivity

The following table demonstrates the sensitivity to a reasonably possible change in interest rates on that
portion of loans and borrowings affected. With all other variables held constant, the Company’s profit before tax
is affected through the impact on floating rate borrowings, as follows:
(` in crores)
Currency Increase / decrease Effect on profit
in basis points before tax
31 March 2023 INR +50 (1.27)
INR -50 1.27
31 March 2022 INR +50 (1.16)
INR -50 1.16
(` in crores)
Total Floating rate Fixed rate
Particulars
Borrowings Borrowings Borrowings
As at 31 March 2023 903.87 254.92 648.95
As at 31 March 2022 1194.26 231.44 962.82
The assumed movement in basis points for the interest rate sensitivity analysis is based on the currently
observable market environment, showing a significantly higher volatility than in prior years.
(iii) Equity Price Risk

The Company is exposed to equity price risks arising from equity investments. Equity investments are held for
strategic rather than trading purposes. The Company does not actively trade these investments.
C. LIQUIDITY RISK
(i) Liquidity risk management

The Company manages liquidity risk by continuously monitoring forecast and actual cash flows on daily,
monthly and yearly basis. The Company ensures that there is a free credit limit available at the start of the year
which is sufficient for repayments getting due in the ensuing year. Loan arrangements, credit limits with various
banks including working capital and monitoring of operational and working capital issues are always kept in
mind for better liquidity management


(ii) Maturities of financial liabilities
The following tables detail the Company’s remaining contractual maturity for its non-derivative financial
liabilities with agreed repayment periods. The amount disclosed in the tables have been drawn up based on
the undiscounted cash flows of financial liabilities based on the earliest date on which the Company can be
required to pay.
To the extent that interest flows are floating rate, the undiscounted amount is derived from interest rate curves
at the end of the reporting period. The contractual maturity is based on the earliest date on which the Company
may be required to pay.
(` in Crores)
On Less than 1-3 Years 3 Years to 5 years Total

As at 31 March 2023
Demand 1 Year 5 Years and above
Non Derivative financial

instruments
Long term borrowings (including

current maturities of long-term
debt) - 319.25 486.56 - - 805.81
Short term borrowings
Cash credit facilities/ working

capital loan 133.69 - - - - 133.69
Pre-shipment, Post-shipment
facilities - 30.00 - - - 30.00
Line of Credit - 35.00 - - - 35.00
Trade payables
Trade payables - micro and

small enterprises - 17.04 - - - 17.04
Trade payables - other than

micro and small enterprises - 688.74 - - - 688.74
Other financial liabilities
Deposits from dealers and

agents 73.69 - - - - 73.69
Deposits against rental

arrangements - 66.83 23.99 2.65 200.00 293.47
Other Interest accrued - 9.74 - - - 9.74
Unclaimed / unpaid dividends - 1.67 - - - 1.67
Creditors for capital supplies

/ services - 20.82 - - - 20.82
Other current liabilities - 7.02 0.49 - - 7.51
Total 207.38 1196.11 511.04 2.65 200.00 2117.18

(` in Crores)

As at 31 March 2022
Non Derivative financial

instruments
Long term borrowings (including

current maturities of long-term
debt) - 635.29 337.34 - - 972.63

capital loan 0.50 - - - - 0.50
Commercial paper - 315.00 - - - 315.00
Trade payables
Trade payables - micro and

small enterprises - 10.71 - - - 10.71
Trade payables - other than

micro and small enterprises - 806.17 - - - 806.17
Deposits from dealers and

agents 53.11 - - - - 53.11

arrangements - 54.77 20.40 - 200.00 275.17
Creditors for capital supplies

/ services - 14.58 - - - 14.58
Total 53.61 1851.13 358.23 - 200.00 2462.97
(iii) Maturities of financial assets

The following table details the Company’s expected maturity for its non-derivative financial assets. The table
has been drawn up based on the undiscounted contractual maturities of the financial assets including interest
that will be earned on those assets. The inclusion of information on non-derivative financial assets is necessary
in order to understand the Company’s liquidity risk management as the liquidity is managed on a net asset and
liability basis.

(` in Crores)

As at 31 March 2023
Non derivative financial

instruments
Trade receivables - 159.06 - - - 159.06
Other bank balances 1.67 59.63 - - - 61.30
Loans - 45.29 611.41 - - 656.70
Other financial assets
Security deposits 1.14 - - 6.52 - 7.66
Interest subsidy - 10.45 - - - 10.45
Unbilled revenue - 1.50 1.87 - - 3.37
Bank deposit more than 12

months - - 9.91 - - 9.91
Others - 7.16 - - - 7.16
Finance lease receivables - - 1.48 - - 1.48
Total 2.81 283.09 624.67 6.52 - 917.09
(` in Crores)

As at 31 March 2022
Non derivative financial

instruments
Loans - 27.37 396.86 - - 424.23
Security deposits 0.38 - - 7.27 - 7.65
Bank deposit more than

12 months - - 48.49 - - 48.49
Others - 5.45 - - - 5.45
Finance lease receivables - 0.48 - - - 0.48
Total 2.21 280.88 447.58 7.27 - 737.94

44 FAIR VALUE MEASUREMENT
Fair value of financial assets and financial liabilities
(` in Crores)

Particulars Carrying Fair value Carrying Fair value
value value
Financial assets
Financial assets measured at fair value through OCI:

Investments
Quoted equity shares 157.33 157.33 216.68 216.68
Unquoted equity shares 38.46 38.46 38.50 38.50
Financial assets measured at Fair value through profit and

loss:
Investment in mutual funds 3.00 3.00 131.00 131.00
Financial assets at amortised cost for which fair value are

disclosed
Government and trust securities 5.82 5.82 8.01 8.01
Loans 566.12 566.12 342.12 342.12
Security deposit 7.66 7.66 7.65 7.65
Interest receivable 10.45 10.45 7.76 7.76
Unbilled revenue 3.37 3.37 3.27 3.27
Finance lease 1.48 1.48 0.48 0.48
Bank deposits more than 12 months 9.91 9.91 48.49 48.49
Others 7.16 7.16 5.45 5.45
Trade receivables 159.06 159.06 221.22 221.22
Cash and cash equivalents 23.38 23.38 17.88 17.88
Other bank balances 61.30 61.30 19.39 19.39
Total 1054.50 1054.50 1067.90 1067.90

44 FAIR VALUE MEASUREMENT (Continued)
(` in Crores)
value value
Financial liabilities at amortised cost for which fair value
are disclosed
Floating rate borrowings (including current maturities and 254.92 254.92 231.44 231.44
Interest accrued)
Fixed rate borrowings (including current maturities and 655.91 633.32 969.34 980.11
Interest accrued)
Lease liabilities (current and non current) 21.60 21.60 20.76 20.76
Trade payables 705.78 705.78 816.88 816.88
Deposits from dealers and agents 73.69 73.69 53.11 53.11
Deposits against rental arrangements 176.23 168.58 163.79 164.04
Other interest accrued 2.78 2.78 2.50 2.50
Unclaimed / unpaid dividends 1.67 1.67 1.83 1.83
Creditors for capital supplies/services 20.82 20.82 14.58 14.58
Other liabilities 7.51 7.51 4.25 4.25
Total 1920.91 1890.67 2278.48 2289.50
The management assessed that cash and cash equivalents, trade receivables, trade payables, cash credit and all other
current financial assets and liabilities approximates their carrying amounts largely due to the short-term maturities of these
instruments.
The fair value of the financial assets and liabilities are included at the amount at which the instrument could be exchanged in a
current transaction between willing parties, other than in a forced or liquidation sale. The following methods and assumptions
were used to estimate the fair values:
(i) Receivables are evaluated by the company based on parameters such as interest rates and individual credit worthiness
of the customer. Based on this evaluation, allowances are taken into account for the expected credit losses of these
receivables.
(ii) The fair value of loans from banks and other financial liabilities, security deposit, as well as other financial liabilities
is estimated by discounting future cash flows using rates currently available for debt on similar terms, credit risk and
remaining maturities.
(iii) The fair values of the unquoted equity instruments have been estimated using a net adjusted fair value method. The
valuation requires management to make certain assumptions about the assets, liabilities, investments of Investee
Company. The probabilities of the various assumptions can be reasonably assessed and are used in management’s
estimate of fair value for these unquoted equity investments based on the best information available to the Company.
(iv) The fair values of quoted equity instruments are derived from quoted market prices in active markets.
(v) The Company enters into foreign exchange forward contracts are valued using valuation techniques, which employs the
use of market observable inputs.
(vi) The fair value of floating rate borrowings are determined by using discounted cash flow method using discount rate that
reflects the issuer’s borrowing rate at the end of the reporting period. As the Company’s interest rates changes with the
change in market interest rate, there is no material difference in carrying value and fair value. The own non performance
risk as at 31 March 2023 was assessed to be insignificant.


Fair value measurement hierarchy of financial assets and financial liabilities
(` in Crores)
Fair value hierarchy as at 31 March 2023
Particulars
Level 1 Level 2 Level 3 Total
Financial assets
Financial assets measured at fair value
through OCI:
Investments
Quoted equity shares 157.33 - - 157.33
Unquoted equity shares - - 38.46 38.46
Financial assets measured at Fair value
through profit and loss:
Investment in mutual funds 3.00 - - 3.00
Financial assets at amortised cost for which
fair value are disclosed
Government and trust securities - 5.82 - 5.82
Loans - 566.12 - 566.12
Security deposit - 7.66 - 7.66
Interest receivable - 10.45 - 10.45
Unbilled revenue - 3.37 - 3.37
Finance lease - 1.48 - 1.48
Bank Deposits with more than 12 months
maturity - 9.91 - 9.91
Others - 7.16 - 7.16
Trade receivables - 159.06 - 159.06
Cash and cash equivalents - 23.38 - 23.38
Other bank balances - 61.30 - 61.30
Total 160.33 855.71 38.46 1054.50
(` in Crores)
Particulars
Financial liabilities at amortised cost for
which Fair value are disclosed
Floating rate borrowings (including current - 254.92 - 254.92
maturities and Interest accrued)
Fixed rate borrowings (including current - 633.32 - 633.32
maturities and Interest accrued)
Lease liabilities (current and non current) - 21.60 - 21.60
Trade payables - 705.78 - 705.78
Deposits from dealers and agents - 73.69 - 73.69
Deposits against rental arrangements - 168.58 - 168.58
Other interest accrued - 2.78 - 2.78
Unclaimed / unpaid dividends - 1.67 - 1.67
Creditors for capital supplies/services - 20.82 - 20.82
Other liabilities - 7.51 - 7.51
Total - 1890.67 - 1890.67


(` in Crores)
Particulars
Financial assets
Financial assets measured at fair value
through OCI:
Investments
Financial assets measured at Fair value
through profit and loss:
Financial assets at amortised cost for which
fair value are disclosed
Government and trust securities - 8.01 - 8.01
Loans - 342.12 - 342.12
Security deposit - 7.65 - 7.65
Interest receivable - 7.76 - 7.76
Unbilled revenue - 3.27 - 3.27
Finance lease - 0.48 - 0.48
Bank Deposits with more than 12 months
maturity - 48.49 - 48.49
Others - 5.45 - 5.45
Trade receivables - 221.22 - 221.22
Cash and cash equivalents - 17.88 - 17.88
Other bank balances - 19.39 - 19.39
Total 347.68 681.72 38.50 1067.90
(` in Crores)
Particulars
Financial liabilities at amortised cost for
which fair value are disclosed
Floating rate borrowings (including current
maturities and Interest accrued) - 231.44 - 231.44
Fixed rate borrowings (including current
Unclaimed / unpaid dividends - 1.83 - 1.83
Total - 2289.50 - 2289.50


Fair Valuation Techniques and Inputs used - recurring Items
(` in Crores)
Financial Fair value as at Fair value Valuation Significant Relationship of

assets/ hierarchy technique(s) unobservable unobservable inputs
financial 31 March 2023 31 March 2022 and key input(s) to fair value and
liabilities input(s) sensitivity
measured at
Fair value
Financial asset Level 3 Replacement Investment 5% (31 March

Cost Method property held 2022: 5%) increase
Investments by investee (decrease) in the fair
Unquoted equity 38.46 38.50 companies value of investment
investments property would result in
increase (decrease) in
Total financial 38.46 38.50 fair value of unquoted
assets equity investment by
` 1.34 Crore (31 March
2022 ` 1.37 Crore)
There were no transfers between level 1 and level 2 for recurring fair value measurements during the year. For transfers in
and out of level 3 measurements, refer example below.
There were no significant inter-relationships between unobservable inputs that materially affects fair values.
Reconciliation of fair value measurement of unquoted equity shares classified as FVTOCI assets:
(` in Crores)
Opening 38.50 35.87
Re-measurement recognised in OCI (0.04) 2.63
Closing 38.46 38.50
45 DISCLOSURE UNDER IND AS 116 “ LEASES “:
Lessee:
The Company has lease contracts for lands & buildings used in its operations. Leases of land and building generally have lease
terms between 3 and 99 years. Generally, the Company is restricted from assigning and subleasing the leased assets.
(` in Crores)
For the year ended For the year ended

Amount recognized in statement of profit or loss
31 March 2023 31 March 2022
Depreciation of right-of-use assets 3.57 3.74
Interest on lease liabilities (including interest on reclassified prepayments) 1.88 1.88
Expenses related to short term leases 2.03 1.42
Total 7.48 7.04

45 DISCLOSURE UNDER IND AS 116 “ LEASES “: (Continued)

The following table sets out the maturity analysis of lease liability to be paid after the reporting date:
(` in Crores)
Less than 1 year 3.22 3.18
1-3 years 4.01 3.99
3-5 years 3.79 3.79
5 years and above 52.10 52.74
Total as at 31 March 63.12 63.70

Set out below are the carrying amounts of lease liabilities (included under interest-bearing loans and borrowings) and the
movements during the period:
(` in Crores)
As at 1 April 20.76 23.31
Additions 2.99 -
Accretion of interest 1.88 1.88
Payments 4.03 4.43
As at 31 March 21.60 20.76
Current 2.26 2.30
Non-current 19.34 18.46
(` in Crores)

Amount recognized in statement of cash flows
31 March 2023 31 March 2022
Total cash outflow of leases 4.06 4.43
Lessor - Operating Lease:

The Company has significant leasing arrangements in respect of operating leases for premises. These are non cancellable
leases with a lock in period of minimum three years. Most of the leases are renewable for a further period on mutually agreeable
terms and also include escalation clauses on renewal. The Company has entered into operating leases for its Investment
property. These typically have lease terms of between 1 to 4 years. The Company has recognized an amount of ` 124.73 Crore
(31 March 2022 ` 126.45 Crore) as rental income for operating lease during the year ended 31 March 2023.


Future minimum rentals receivable under non-cancellable operating leases are, as follows:
(` in Crores)
Less than a year 39.88 54.45
One to two years 11.92 33.70
Two to three years 6.16 7.23
Three to four years 3.69 2.17
Four to five years 2.37 -
Total (A) 64.02 97.55
More than five years (B) 4.41 -
Total (A +B) 68.43 97.55
Lessor - Finance Lease:

The Company has entered into Finance leases arrangement for leasehold improvement in investment property. These leases
have terms of between three and five years
Amount receivable under Finance Lease:
(` in Crores)
Less than a year - 0.49
One to two years 0.55 -
Two to three years 1.36 -
Total 1.91 0.49
Unearned Finance Income (0.43) (0.01)
Present value of minimum lease payment receivable 1.48 0.48

46 RATIO ANALYSIS AND ITS ELEMENTS
Reason
Ratio Numerator Denominator 31-Mar-23 31-Mar-22 % change for
variance
Current ratio Current Assets Current Liabilities 1.05 0.88 19.32%
Debt- Equity Ratio Total Debt Shareholder’s Equity Refer

0.22 0.31 -29.03%
Note (a)
Debt Service Earnings for debt service = Debt service = Interest

Refer
Coverage ratio Net profit after taxes + Non- & Lease Payments + 0.96 2.38 -59.66%
Note (b)
cash operating expenses Principal Repayments
Return on Equity ratio Net Profits after taxes Average Shareholder’s Refer
0.09 0.05 80.00%
Equity Note (a)
Inventory Turnover Cost of goods sold Average Inventory

4.00 4.41 -9.30%
ratio
Trade Receivable Net sales = Gross sales - Average Trade

24.80 21.14 17.31%
Turnover Ratio sales return Receivable
Trade Payable Net purchases = Gross Average Trade

Turnover Ratio purchases + other Payables 5.66 5.34 5.99%
expenses - purchase return
Net Capital Turnover Net sales = Total sales - Working capital =

Ratio sales return Current assets –
Current liabilities 11.65 13.26 -12.17%
(Excluding current
borrowings)
Net Profit ratio Net Profit Net sales = Total sales Refer
7.68% 5.02% 52.99%
- sales return Note (a)
Net Profit ratio before Net Profit before Net sales = Total sales
exceptional items exceptional items (net of - sales return 5.42% 5.02% 7.88%
tax expense)
Return on Capital Earnings before interest Capital employed =

Refer
Employed and taxes Net worth + Total Debt 0.10 0.08 25.70%
Note (a)
- Deferred tax asset
Return on Investment Interest (Finance Income) Investment 4.60% 4.28% 7.43%
Notes :
(a) During the year, the Company has recorded exceptional gain on account of transfer of leasehold land of ` 134.21 crores.
Accordingly, all ratios related to cash flows, revenue and profitability of the Company has been improved as compared to
previous year.
(b) Mainly on account of redemption of Non Convertible debentures of ` 400.00 crores during the year.

47 OTHER STATUTORY INFORMATION

(i) The Company does not have any Benami property, where any proceeding has been initiated or pending against the
Company for holding any Benami property.
(ii) The Company does not have any transactions with companies struck off.
(iii) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory
period.
(iv) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
(v) The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities
(Intermediaries) with the understanding the Intermediary shall:
(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of
the company (Ultimate Beneficiaries) or
(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries
(vi) The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with
the understanding (whether recorded in or otherwise) that the Company shall:
the Funding Party (Ultimate Beneficiaries) or
(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries
(vii) The Company does not have any such transaction which is not recorded in the books of accounts that has been surrendered
or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey
or any other relevant provisions of the Income Tax Act, 1961.
48 The Company has defined process to take daily back-up of books of account maintained electronically and maintain the
logs of the back-up of such books of account however in few cases daily back-up was failed because of technical issue
and manual back-up has been taken on the next day. Management has taken adequate steps to configure systems to
ensure that back up for books of account is taken on daily basis even in case of technical failure.
49 Figures less than ` 50,000 have been shown at actuals in brackets, since the figures are rounded off to the nearest lakh.


INDEPENDENT AUDITOR’S REPORT
To the Members of Century Textiles and Industries Limited described in the ‘Auditor’s Responsibilities for the Audit
of the Consolidated Financial Statements’ section of our
Report on the Audit of the Consolidated Financial report. We are independent of the Group and joint venture
Statements in accordance with the ‘Code of Ethics’ issued by the
Institute of Chartered Accountants of India together with
Opinion the ethical requirements that are relevant to our audit of
We have audited the accompanying consolidated financial the financial statements under the provisions of the Act and
statements of Century Textiles and Industries Limited the Rules thereunder, and we have fulfilled our other ethical
(hereinafter referred to as “the Holding Company”), its responsibilities in accordance with these requirements
subsidiaries (the Holding Company and its subsidiaries and the Code of Ethics. We believe that the audit evidence
together referred to as “the Group”) and its joint venture we have obtained is sufficient and appropriate to provide
comprising of the consolidated Balance Sheet as at March a basis for our audit opinion on the consolidated financial
31 2023, the consolidated Statement of Profit and Loss, statements.
including other comprehensive income, the consolidated
Cash Flow Statement and the consolidated Statement of ☺Key Audit Matters
Changes in Equity for the year then ended, and notes to the Key audit matters are those matters that, in our professional
consolidated financial statements, including a summary judgment, were of most significance in our audit of the
of significant accounting policies and other explanatory consolidated financial statements for the financial year
information (hereinafter referred to as “the consolidated ended March 31, 2023. These matters were addressed
financial statements”). in the context of our audit of the consolidated financial
In our opinion and to the best of our information and statements as a whole, and in forming our opinion thereon,
according to the explanations given to us, the aforesaid and we do not provide a separate opinion on these matters.
consolidated financial statements give the information For each matter below, our description of how our audit
required by the Companies Act, 2013, as amended (“the addressed the matter is provided in that context.
Act”) in the manner so required and give a true and fair We have determined the matters described below to be
view in conformity with the accounting principles generally the key audit matters to be communicated in our report.
accepted in India, of the consolidated state of affairs We have fulfilled the responsibilities described in the
of the Group and its joint venture as at March 31, 2023, Auditor’s responsibilities for the audit of the consolidated
their consolidated profit including other comprehensive financial statements section of our report, including in
income, their consolidated cash flows and the consolidated relation to these matters. Accordingly, our audit included
statement of changes in equity for the year ended on that the performance of procedures designed to respond to
date. our assessment of the risks of material misstatement of
the consolidated financial statements. The results of audit
Basis for Opinion procedures performed by us, including those procedures
We conducted our audit of the consolidated financial performed to address the matters below, provide the basis
statements in accordance with the Standards on Auditing for our audit opinion on the accompanying consolidated
(SAs), as specified under section 143(10) of the Act. financial statements.
Our responsibilities under those Standards are further
Recognition and Measurement of Deferred Tax (as described in Note 16 of the consolidated Ind AS financial statements)
The Group has recognized Minimum Alternate Tax Our procedures included, amongst others, the following:
(MAT) credit receivable of INR 397.22 crore as at • Considered Group’s accounting policies with respect to recognition
March 31, 2023. The Group also has recognized and measurement of tax balances in accordance with Ind AS 12
deferred tax assets of INR 113.41 crore on “Income Taxes”.
unabsorbed loss and indexation benefit on land.
• Performed and understanding of the process and tested the internal
controls over recognition and measurement of tax balances
through inspection of evidence of performance of these controls.

Further, pursuant to the Taxation Laws (Amendment) • Performed the tests of details including the following key
Act, 2019 (new tax regime), the Group has measured procedures:
its deferred tax balances expected to reverse after • Involved tax specialists who evaluated the Group’s tax positions
the likely transition to new tax regime, at the rate basis the tax law and also by comparing it with prior years and past
specified in the new tax regime. precedents.
The recognition and measurement of MAT credit • Discussed the future business plans and financial projections as
receivable and deferred tax balances is a key audit approved by the management.
matter as the recoverability of such credits within the
• Assessed the management’s long-term financial projections and
allowed time frame in the manner prescribed under
the key assumptions used in the projections by comparing it with
tax regulations and estimation of year of transition
the past trends, approved business plan, projections used for
to the new tax regime involves significant estimate
estimation of likely year of transition to the new tax regime and
of the financial projections, availability of sufficient
projections used for impairment assessment, where applicable.
taxable income in the future and admissibility of tax
positions adopted by the Group. • Assessed the deferred tax on temporary differences which are
expected to reverse after the likely date of transition to the new tax
regime and considered the impact thereof.
Assessed the disclosures in accordance with the requirements of Ind
AS 12 “Income Taxes”.
Assessing the carrying value of Real estate inventories (as described in Note 9 of the consolidated financial statement)
As at March 31, 2023, the carrying value of the Our audit procedures included considering the Company’s accounting
inventory of ongoing real estate projects is Rs. policies with respect to valuation of inventories in accordance with Ind
2,486.87 Crore. The inventories are held at the lower AS 2 “Inventories”.
of the cost and net realisable value. We assessed the Company’s methodology based on current economic
The cost of the inventory is calculated using and market conditions, applied in assessing the carrying value of
actual land acquisition costs, construction costs, Inventory balance. We performed test of controls over process of
development related costs and interest capitalised valuation of inventory and authorization for inventory write down
for eligible projects. We performed the following test of details:
We identified the assessment of whether carrying • Assessed the methods used by the management, in determining
value of inventory were stated at the lower of cost the NRV of ongoing real estate projects.
and net realisable value (“NRV”) as a key audit
• Obtained, read and assessed the management’s process in
matter due to the significance of the balance to the
estimating the future costs to completion for inventory of ongoing
consolidated financial statements as a whole and
projects.
the involvement of estimations in the assessment.
The determination of the NRV involves estimates • Discussed with management the life cycle of the project, key project
based on prevailing market conditions and taking risks, changes to project strategy, current and future estimated
into account the estimated future selling price, cost sales prices, construction progress and impairment.
to complete projects and selling costs. • Compared the NRV to recent sales in the project or to the estimated
selling price in the nearby properties.
Other Information In connection with our audit of the consolidated financial

The Holding Company’s Board of Directors is responsible statements, our responsibility is to read the other
for the other information. The other information comprises information and, in doing so, consider whether such other
the information included in the Annual report, but does information is materially inconsistent with the consolidated
not include the consolidated financial statements and our financial statements or our knowledge obtained in the audit
auditor’s report thereon. or otherwise appears to be materially misstated. If, based
on the work we have performed, we conclude that there is
Our opinion on the consolidated financial statements does
a material misstatement of this other information, we are
not cover the other information and we do not express any
required to report that fact. We have nothing to report in this
form of assurance conclusion thereon.
regard.

Responsibilities of Management for the Consolidated but is not a guarantee that an audit conducted in accordance
Financial Statements with SAs will always detect a material misstatement when it
The Holding Company’s Board of Directors is responsible exists. Misstatements can arise from fraud or error and are
for the preparation and presentation of these consolidated considered material if, individually or in the aggregate, they
financial statements in terms of the requirements of the Act could reasonably be expected to influence the economic
that give a true and fair view of the consolidated financial decisions of users taken on the basis of these consolidated
position, consolidated financial performance including financial statements.
other comprehensive income, consolidated cash flows and As part of an audit in accordance with SAs, we exercise
consolidated statement of changes in equity of the Group professional judgment and maintain professional
including its joint venture in accordance with the accounting skepticism throughout the audit. We also:
principles generally accepted in India, including the Indian • Identify and assess the risks of material misstatement
Accounting Standards (Ind AS) specified under section 133 of the consolidated financial statements, whether due
of the Act read with the Companies (Indian Accounting to fraud or error, design and perform audit procedures
Standards) Rules, 2015, as amended. The respective responsive to those risks, and obtain audit evidence
Board of Directors of the companies included in the Group that is sufficient and appropriate to provide a basis
and of its joint venture are responsible for maintenance for our opinion. The risk of not detecting a material
of adequate accounting records in accordance with the misstatement resulting from fraud is higher than for
provisions of the Act for safeguarding of the assets of their one resulting from error, as fraud may involve collusion,
respective companies and for preventing and detecting forgery, intentional omissions, misrepresentations, or
frauds and other irregularities; selection and application the override of internal control.
of appropriate accounting policies; making judgments • Obtain an understanding of internal control relevant to
and estimates that are reasonable and prudent; and the the audit in order to design audit procedures that are
design, implementation and maintenance of adequate appropriate in the circumstances. Under section 143(3)
internal financial controls, that were operating effectively for (i) of the Act, we are also responsible for expressing
ensuring the accuracy and completeness of the accounting our opinion on whether the Holding Company has
records, relevant to the preparation and presentation of the adequate internal financial controls with reference
consolidated financial statements that give a true and fair to financial statements in place and the operating
view and are free from material misstatement, whether due effectiveness of such controls.
to fraud or error, which have been used for the purpose of • Evaluate the appropriateness of accounting policies
preparation of the consolidated financial statements by the used and the reasonableness of accounting estimates
Directors of the Holding Company, as aforesaid. and related disclosures made by management.
In preparing the consolidated financial statements, the • Conclude on the appropriateness of management’s use
respective Board of Directors of the companies included of the going concern basis of accounting and, based
in the Group and of its joint venture are responsible for on the audit evidence obtained, whether a material
assessing the ability of their respective company to uncertainty exists related to events or conditions that
continue as a going concern, disclosing, as applicable, may cast significant doubt on the ability of the Group
matters related to going concern and using the going and its joint venture to continue as a going concern.
concern basis of accounting unless management either If we conclude that a material uncertainty exists, we
intends to liquidate the Group or to cease operations, or has are required to draw attention in our auditor’s report
no realistic alternative but to do so.Those respective Board to the related disclosures in the consolidated financial
of Directors of the companies included in the Group and statements or, if such disclosures are inadequate,
of its joint venture are also responsible for overseeing the to modify our opinion. Our conclusions are based
financial reporting process of their respective company. on the audit evidence obtained up to the date of our
auditor’s report. However, future events or conditions
Auditor’s Responsibilities for the Audit of the Consolidated may cause the Group and its joint venture to cease to
Financial Statements continue as a going concern.
Our objectives are to obtain reasonable assurance about • Evaluate the overall presentation, structure and content
whether the consolidated financial statements as a whole of the consolidated financial statements, including the
are free from material misstatement, whether due to fraud disclosures, and whether the consolidated financial
or error, and to issue an auditor’s report that includes our statements represent the underlying transactions and
opinion. Reasonable assurance is a high level of assurance, events in a manner that achieves fair presentation.

• Obtain sufficient appropriate audit evidence regarding From the matters communicated with those charged with
the financial information of the entities or business governance, we determine those matters that were of
activities within the Group and its joint venture of most significance in the audit of the consolidated financial
which we are the independent auditors and whose statements for the financial year ended March 31, 2023
financial information we have audited, to express an and are therefore the key audit matters. We describe these
opinion on the consolidated financial statements. matters in our auditor’s report unless law or regulation
We are responsible for the direction, supervision and precludes public disclosure about the matter or when, in
performance of the audit of the financial statements extremely rare circumstances, we determine that a matter
of such entities included in the consolidated financial should not be communicated in our report because the
statements of which we are the independent auditors. adverse consequences of doing so would reasonably be
For the other entities included in the consolidated expected to outweigh the public interest benefits of such
financial statements, which have been audited by communication.
other auditors, such other auditors remain responsible
for the direction, supervision and performance of Report on Other Legal and Regulatory Requirements
the audits carried out by them. We remain solely 1. With respect to the matters specified in paragraphs
responsible for our audit opinion. 3(xxi) and 4 of the Companies (Auditor’s Report) Order,
We communicate with those charged with governance of 2020 (the “Order”/ “CARO”) issued by the Central
the Holding Company and such other entities included in Government in terms of Section 143(11) of the Act,
the consolidated financial statements of which we are the to be included in the Auditor’s report, according to
independent auditors regarding, among other matters, the the information and explanations given to us, and
planned scope and timing of the audit and significant audit based on the CARO reports issued by us for the
findings, including any significant deficiencies in internal Company, its subsidiaries and joint venture included
control that we identify during our audit. in the consolidated Ind AS financial statements of the
We also provide those charged with governance with a Company, to which reporting under CARO is applicable,
statement that we have complied with relevant ethical we report as under:
requirements regarding independence, and to communicate Qualifications or adverse remarks by us in the
with them all relationships and other matters that may Companies (Auditors Report) Order (CARO) reports of
reasonably be thought to bear on our independence, and the companies included in the consolidated financial
where applicable, related safeguards. statements are:
Sr. Name CIN Holding company Clause number of the

No / subsidiary / joint CARO report which is
venture qualified or is adverse
1 Century Textiles and Industries Limited L17120MH1897PLC000163 Holding Company 3(i)(c)
2 Birla Estates Private Limited U70100MH2017PTC303291 Subsidiary 3(xvii)
3 Birla Century Exports Private Limited U51909MH2018PTC317024 Subsidiary 3(xvii)
4 Birla Advanced Knits Private Limited U17299GJ2021PTC124095 Joint venture 3(xvii)
2. As required by Section 143(3) of the Act, we report, to the extent applicable, that:
(a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief
were necessary for the purposes of our audit of the aforesaid consolidated financial statements;
(b) In our opinion, proper books of account as required by law have been kept by the Company, so far it appears from our
examination of those books, except that in few cases, back up of books of accounts maintained in electronic mode
were taken on the next day (instead on a daily basis) as stated in Note 48;
(c) The Consolidated Balance Sheet, the Consolidated Statement of Profit and Loss including the Statement of Other
Comprehensive Income, the Consolidated Cash Flow Statement and Consolidated Statement of Changes in Equity
dealt with by this Report are in agreement with the books of account maintained for the purpose of preparation of the
consolidated financial statements;
(d) In our opinion, the aforesaid consolidated financial statements comply with the Accounting Standards specified
under Section 133 of the Act, read with Companies (Indian Accounting Standards) Rules, 2015, as amended;

(e) On the basis of the written representations joint ventures and (b) the Group’s share of
received from the directors of the Holding net profit in respect of its joint ventures;
Company as on March 31, 2023 taken on record iii. There has been no delay in transferring
by the Board of Directors of the Holding Company amounts, required to be transferred, to the
and the reports of the statutory auditors who are Investor Education and Protection Fund by
appointed under Section 139 of the Act, of its the Holding Company, its subsidiaries and
subsidiary companies and joint venture, none of joint ventures, incorporated in India during
the directors of the Group’s companies and its the year ended March 31, 2023.
joint venture, incorporated in India, is disqualified
iv. a) The respective managements
as on March 31, 2023 from being appointed as a
of the Holding Company and its
director in terms of Section 164 (2) of the Act;
subsidiaries and joint ventures which
(f) The qualification relating to the maintenance of are companies incorporated in India
accounts and other matters connected therewith whose financial statements have been
are as stated in paragraph (b) above. audited under the Act have represented
(g) With respect to the adequacy of the internal to us, to the best of its knowledge and
financial controls with reference to consolidated belief, no funds have been advanced
financial statements of the Holding Company, or loaned or invested (either from
its subsidiary companies and its joint venture, borrowed funds or share premium or
incorporated in India, and the operating any other sources or kind of funds) by
effectiveness of such controls, refer to our the Holding Company or any of such
separate Report in “Annexure 1” to this report; subsidiaries and joint ventures to or in
(h) In our opinion and based on the consideration of any other persons or entities, including
reports of statutory auditors of the subsidiaries, foreign entities (“Intermediaries”), with
and joint venture incorporated in India, the the understanding, whether recorded
managerial remuneration for the year ended in writing or otherwise, that the
March 31, 2023 has been paid / provided by Intermediary shall, whether, directly
the Holding Company, its subsidiaries and joint or indirectly lend or invest in other
venture incorporated in India to their directors in persons or entities identified in any
accordance with the provisions of section 197 manner whatsoever by or on behalf of
read with Schedule V to the Act; the respective Holding Company or any
of such subsidiaries and joint ventures
(i) With respect to the other matters to be included
(“Ultimate Beneficiaries”) or provide
in the Auditor’s Report in accordance with Rule
any guarantee, security or the like on
11 of the Companies (Audit and Auditors) Rules,
behalf of the Ultimate Beneficiaries;
2014, as amended, in our opinion and to the
best of our information and according to the b) The respective managements
explanations given to us: of the Holding Company and its
subsidiaries and joint ventures which
i. The consolidated financial statements
are companies incorporated in India
disclose the impact of pending litigations
whose financial statements have been
on its consolidated financial position of the
audited under the Act have represented
Group and joint ventures in its consolidated
to us, to the best of its knowledge and
financial statements – Refer Note 38 to the
belief, no funds have been received by
consolidated financial statements;
the respective Holding Company or any
ii. Provision has been made in the consolidated of such subsidiaries and joint ventures
financial statements, as required under the from any persons or entities, including
applicable law or accounting standards, foreign entities (“Funding Parties”),
for material foreseeable losses, if any, on with the understanding, whether
long-term contracts including derivative recorded in writing or otherwise, that
contracts – Refer (a) Note 43 to the the Holding Company or any of such
consolidated financial statements in respect subsidiaries and joint ventures shall,
of such items as it relates to the Group and whether, directly or indirectly, lend

or invest in other persons or entities Annexure 1 to the Independent Auditor’s Report of even
identified in any manner whatsoever date on the Consolidated Ind AS Financial Statements of
by or on behalf of the Funding Party Century Textiles and Industries Limited
(“Ultimate Beneficiaries”) or provide
any guarantee, security or the like on Report on the Internal Financial Controls under Clause (i)
behalf of the Ultimate Beneficiaries; of Sub-section 3 of Section 143 of the Companies Act,
and 2013 (“the Act”)
c) Based on the audit procedures that In conjunction with our audit of the consolidated Ind AS
have been considered reasonable financial statements of Century Textiles and Industries
and appropriate in the circumstances Limited (hereinafter referred to as the “Holding Company”)
performed by us, nothing has come as of and for the year ended March 31, 2023, we have
to our or other auditor’s notice that audited the internal financial controls with reference to
has caused us or the other auditors to consolidated Ind AS financial statements of the Holding
believe that the representations under Company and its subsidiaries (the Holding Company and
sub-clause (a) and (b) contain any its subsidiaries together referred to as “the Group”) and its
material misstatement. joint venture, which are companies incorporated in India, as
of that date.
v. The final dividend paid by the Holding
Company, its subsidiaries and joint venture
Management’s Responsibility for Internal Financial
companies incorporated in India during the
Controls
year in respect of the same declared for the
previous year is in accordance with section The respective Board of Directors of the companies included
123 of the Act to the extent it applies to in the Group and joint venture, which are companies
payment of dividend. As stated in note 13 to incorporated in India, are responsible for establishing and
the consolidated financial statements, the maintaining internal financial controls based on the internal
Board of Directors of the Holding Company control over financial reporting criteria established by the
have proposed final dividend for the year Holding Company considering the essential components
which is subject to the approval of the of internal control stated in the Guidance Note on Audit
members of the respective companies at the of Internal Financial Controls Over Financial Reporting
respective ensuing Annual General Meeting. (the “Guidance Note”) issued by the Institute of Chartered
The dividend declared is in accordance with Accountants of India (the “ICAI”). These responsibilities
section 123 of the Act to the extent it applies include the design, implementation and maintenance of
to declaration of dividend. adequate internal financial controls that were operating
effectively for ensuring the orderly and efficient conduct
vi. As proviso to Rule 3(1) of the Companies
of its business, including adherence to the respective
(Accounts) Rules, 2014 is applicable only
company’s policies, the safeguarding of its assets, the
w.e.f. April 1, 2023 for the Holding Company,
prevention and detection of frauds and errors, the accuracy
its subsidiaries and joint venture companies
and completeness of the accounting records, and the timely
incorporated in India, hence reporting under
preparation of reliable financial information, as required
this clause is not applicable.
under the Companies Act, 2013.
For S R B C & CO LLP Auditor’s Responsibility

Chartered Accountants Our responsibility is to express an opinion on the Holding
ICAI Firm Registration Number: 324982E/E300003 Company’s internal financial controls with reference to
consolidated Ind AS financial statements based on our
per Ravi Bansal audit. We conducted our audit in accordance with the
Partner Guidance Note and the Standards on Auditing, specified
Place of Signature: Mumbai Membership Number: 049365 under section 143(10) of the Act, to the extent applicable
Date: April 24, 2023 UDIN: 23049365BGWUAX6952 to an audit of internal financial controls, both, issued by the
ICAI. Those Standards and the Guidance Note require that
we comply with ethical requirements and plan and perform
the audit to obtain reasonable assurance about whether

adequate internal financial controls with reference to management and directors of the company; and (3) provide
consolidated Ind AS financial statements was established reasonable assurance regarding prevention or timely
and maintained and if such controls operated effectively in detection of unauthorised acquisition, use, or disposition of
all material respects. the company’s assets that could have a material effect on
Our audit involves performing procedures to obtain audit the consolidated Ind AS financial statements.
evidence about the adequacy of the internal financial
Inherent Limitations of Internal Financial Controls With
controls with reference to consolidated Ind AS financial
Reference to Consolidated Ind AS Financial Statements
statements and their operating effectiveness. Our audit of
internal financial controls with reference to consolidated Because of the inherent limitations of internal financial
Ind AS financial statements included obtaining an controls with reference to consolidated Ind AS financial
understanding of internal financial controls with reference statements, including the possibility of collusion or improper
to consolidated Ind AS financial statements, assessing management override of controls, material misstatements
the risk that a material weakness exists, and testing and due to error or fraud may occur and not be detected.
evaluating the design and operating effectiveness of Also, projections of any evaluation of the internal financial
internal control based on the assessed risk. The procedures controls with reference to consolidated Ind AS financial
selected depend on the auditor’s judgement, including the statements to future periods are subject to the risk that the
assessment of the risks of material misstatement of the internal financial controls with reference to consolidated Ind
consolidated Ind AS financial statements, whether due to AS financial statements may become inadequate because
fraud or error. of changes in conditions, or that the degree of compliance
with the policies or procedures may deteriorate.
We believe that the audit evidence we have obtained, is
sufficient and appropriate to provide a basis for our audit
Opinion
opinion on the internal financial controls with reference to
consolidated Ind AS financial statements. In our opinion, the Group and joint venture, which is a
company incorporated in India, have, maintained in all
Meaning of Internal Financial Controls With Reference to material respects, adequate internal financial controls
Consolidated Ind AS Financial Statements with reference to consolidated Ind AS financial statements
and such internal financial controls with reference to
A company’s internal financial control with reference to
consolidated Ind AS financial statements were operating
consolidated Ind AS financial statements is a process
effectively as at March 31, 2023, based on the internal
designed to provide reasonable assurance regarding
control over financial reporting criteria established by the
the reliability of financial reporting and the preparation
Holding Company considering the essential components of
of consolidated Ind AS financial statements for external
internal control stated in the Guidance Note issued by the
purposes in accordance with generally accepted accounting
ICAI.
principles. A company’s internal financial control with
reference to consolidated Ind AS financial statements
includes those policies and procedures that (1) pertain to the For S R B C & CO LLP
maintenance of records that, in reasonable detail, accurately Chartered Accountants
and fairly reflect the transactions and dispositions of the ICAI Firm Registration Number: 324982E/E300003
assets of the company; (2) provide reasonable assurance
that transactions are recorded as necessary to permit per Ravi Bansal
preparation of consolidated Ind AS financial statements in Partner
accordance with generally accepted accounting principles, Place of Signature: Mumbai Membership Number: 049365
and that receipts and expenditures of the company are Date: April 24, 2023 UDIN: 23049365BGWUAX6952
being made only in accordance with authorisations of

CONSOLIDATED BALANCE SHEET

AS AT 31 MARCH 2023
(` in Crores)
Note As at As at
Particulars
No. 31 March 2023 31 March 2022
I ASSETS
NON-CURRENT ASSETS
(a) Property, plant and equipments 3 3111.65 3212.77
(b) Capital work-in-progress 3A 189.63 173.90
(c) Investment property 4 796.61 838.73
(d) Investment property under development 4A 36.41 36.22
(e) Intangible assets 5 7.66 7.11
(f) Intangible assets under development 5A 0.06 0.69
(g) Investment accounted for using equity method 6 23.16 14.87
(h) Financial assets
(i) Investments 6 201.61 263.19
(ii) Other financial assets 7 19.97 58.16
(i) Deferred tax assets (net) 16 48.08 56.94
(j) Advance tax (net of provisions) 68.74 61.22
(k) Other non-current assets 8 21.58 25.65
SUB-TOTAL 4525.16 4749.45
CURRENT ASSETS
(a) Inventories 9 3256.10 2330.86
(b) Financial assets
(i) Investments 6 3.00 131.00
(ii) Trade receivables 10 156.44 216.80
(iii) Cash and cash equivalents 11 48.51 34.82
(iv) Other bank balances (other than (iii) above) 11 102.62 30.99
(v) Other financial assets 7 16.09 13.18
(c) Other current assets 8 343.72 231.74
SUB-TOTAL 3926.48 2989.39
TOTAL 8451.64 7738.84
II EQUITY AND LIABILITIES
EQUITY
(a) Equity share capital 12 111.69 111.69
(b) Other equity 13 3775.14 3607.13
(c) Non controlling interest 152.12 158.03
SUB-TOTAL 4038.95 3876.85
LIABILITIES
NON-CURRENT LIABILITIES
(i) Borrowings 14 399.09 381.82
(ii) Other financial liabilities 15 117.82 98.19
(b) Provisions 20 2.48 1.50
(c) Deferred tax liabilities (net) 16 40.64 -
(d) Other non-current liabilities 17 454.50 520.21
SUB-TOTAL 1033.87 1020.18
CURRENT LIABILITIES
(i) Borrowings 18 638.62 933.74
(ii) Trade payables 19
1) total outstanding dues of micro enterprises and small
enterprises 19.11 11.88
2) total outstanding dues of trade payables other than micro
enterprises and small enterprises 766.40 846.08
(iii) Other financial liabilities 15 175.31 149.08
(b) Provisions 20 182.46 181.87
(c) Other current liabilities 17 1594.66 716.86
SUB-TOTAL 3378.82 2841.81
TOTAL 8451.64 7738.84
The accompanying notes are an integral part of the consolidated financial statements


CONSOLIDATED STATEMENT OF PROFIT AND LOSS

(` in Crores)
Note Year Ended Year Ended
Particulars
No. 31 March 2023 31 March 2022
Continuing Operations
I Revenue from operations 21 4799.65 4130.95
II Other income 22 27.52 43.06
III Total Income (I + II) 4827.17 4174.01
IV Expenses
(a) Cost of materials consumed 23 2731.37 2276.31
(b) Purchases of traded goods 24 44.80 223.58
(c) Changes in inventories of finished goods, work-in-progress and traded 25
goods (58.75) (58.10)
(d) Employee benefits expense 26 344.83 323.64
(e) Finance costs 27 53.89 52.18
(f) Depreciation and amortisation expense 28 227.08 230.66
(g) Other expenses 29 1210.07 921.01
Total Expenses 4553.29 3969.28
V Profit before exceptional items, tax and share of profit of joint venture (III- IV) 273.88 204.73
VI Share of profit / (loss) of an associate (1.84) (0.13)
VII Profit before exceptional items and tax (V- VI) 272.04 204.60
VIII Exceptional Items 35a 134.21 -
IX Profit before tax from continuing operations (VII + VIII) 406.25 204.60
X Tax expense of continuing operations
(a) Current tax 16 92.84 55.01
(b) MAT credit recognised 16 - (54.99)
(c) Deferred tax 16 48.31 84.01
(d) Deferred tax relating to earlier period 16 0.55 (33.59)
Total tax expense 141.70 50.44
XI Profit after tax from continuing operations (IX - X) 264.55 154.16
XII Discontinued Operations
(a) Loss before tax from discontinued operations - (7.04)
(b) Gain on sale of Century Yarn and Denim division (Refer note 35) - 17.63
(c) Tax (Expense) / Income of discontinued operations - (3.05)
Profit after tax from discontinued operations - 7.54
XIII Profit for the year (XI + XII) 264.55 161.70
XIV Other comprehensive income
(i) Items that will be re-classified to profit or loss - continuing operations
(a) Net movement in cash flow hedge reserve - 0.63
(b) Income tax on (a) - (0.21)
(ii) Items that will not be re-classified to profit or loss - continuing
operations
(a) Re-measurement gain on defined benefit plans 0.82 0.97
(b) Net gain / (loss) on Fair value through Other Comprehensive
Income (OCI) - Equity Instruments (59.37) 58.06
(c) Income tax on (a) & (b) (0.64) (0.34)
Total other comprehensive income / (loss) for the year (net of tax) (59.19) 59.11
XV Total comprehensive income for the year (XIII + XIV) 205.36 220.81
Profit / (Loss) for the period attributable to:
Owners of the Company 271.88 166.53
Non-controlling Interest (7.33) (4.83)
Other comprehensive income / (loss) attributable to:
Owners of the Company (59.19) 59.11
Non-controlling Interest - -
Total comprehensive income / (loss) attributable to:
Owners of the Company 212.69 225.64
Non-controlling Interest (7.33) (4.83)
XVI Earnings per equity share :
(a) Basic & Diluted Earnings Per Share - Continuing operations 31 24.34 14.23
(b) Basic & Diluted Earnings Per Share - Discontinued operations 31 - 0.68
(c) Basic & Diluted Earnings Per Share - (Continuing & discontinued 31 24.34 14.91
operations)
The accompanying notes are an integral part of the consolidated financial statements


(` in Crores)
Equity Reserves and Surplus Other comprehensive income Total Other Attributable Total
390
Share Securities General Capital Debenture Retained Cash Equity Instruments Equity to Non- Equity
Capital Premium Reserves Redemption Redemption earnings Flow through Other attributable to Controlling
(See Note (See Reserve Reserve Hedge Comprehensive the Owners of Interest
13(a)) Note 13 (See Note (See Note Reserve Income (See Note the Company
(d)) 13(b)(i)) 13(b)(ii)) 13e(i))
As at 1 April 2021 111.69 643.22 1273.54 100.00 - 1277.58 (0.42) 98.75 3392.67 143.03 3647.39
Changes in accounting policy
or prior period errors - - - - - - - - - - -
Balance as at 1 April 2021 111.69 643.22 1273.54 100.00 - 1277.58 (0.42) 98.75 3392.67 143.03 3647.39
Profit / (Loss) for the year - - - - - 166.53 - - 166.53 (4.83) 161.70
Other comprehensive income - - - - - 0.63 0.42 58.06 59.11 - 59.11
(loss) for the year - - - - - 167.16 0.42 58.06 225.64 (4.83) 220.81
(See Note 13 (c)) - - - - - (11.17) - - (11.17) - (11.17)

Contribution from non-

controlling interest - - - - - - - - - 19.83 19.83
As at 31 March 2022 111.69 643.22 1273.54 100.00 - 1433.57 (0.00) 156.81 3607.13 158.03 3876.86
Changes in accounting policy
or prior period errors - - - - - - - - - - -
Balance as at 31 March 2022 111.69 643.22 1273.54 100.00 - 1433.57 (0.00) 156.81 3607.13 158.03 3876.86
Profit / (Loss) for the year - - - - - 271.88 - - 271.88 (7.33) 264.55
Other comprehensive income
/ (loss) - - - - - 0.18 - (59.37) (59.19) - (59.19)
(loss) for the year - - - - - 272.06 - (59.37) 212.69 (7.33) 205.35
(See Note 13 (c)) - - - - - (44.68) - - (44.68) - (44.68)
Contribution from non-
controlling interest - - - - - - - - - 1.42 1.42
As at 31 March 2023 111.69 643.22 1273.54 100.00 - 1660.95 (0.00) 97.44 3775.14 152.12 4038.95

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY


CONSOLIDATED CASH FLOW STATEMENT

(` in Crores)
Particulars
31 March 2023 31 March 2022
A. CASH FLOW FROM OPERATING ACTIVITIES
NET PROFIT BEFORE TAX FROM CONTINUING OPERATIONS 406.25 204.60
NET PROFIT BEFORE TAX FROM DISCONTINUED OPERATIONS - 10.59
Add / (Less) :
Depreciation on property plant and equipments 192.19 195.10
Depreciation on investment property 32.49 33.54
Amortisation on intangible assets 2.40 2.02
Loss/(gain) on sale of property plant and equipments and investment
properties (0.14) 0.67
Allowance for credit loss 17.64 1.60
Unrealized exchange (gain) / loss (0.85) 0.17
Interest income (5.67) (6.67)
Provision for interest written back - (11.37)
Gain on sale of Century Yarn & Denim division - (49.22)
Share of loss of Joint Venture 1.84 0.13
Profit on transfer of leasehold land (134.21) -
Interest expense 53.89 52.18
Liabilities written back (8.21) (12.41)
Dividend on investments (4.69) (3.26)
146.68 202.48
Working capital adjustments
Decrease / (increase) in inventory (895.79) (790.70)
Decrease / (increase) in trade receivables 42.87 (60.59)
Decrease / (increase) in other financial assets 40.31 3.53
Decrease / (increase) in other assets (103.09) (101.76)
(Decrease) / increase in other financial liabilities 29.15 22.98
(Decrease) / increase in trade payables (63.55) 210.18
(Decrease) / increase in provisions 2.39 (12.32)
(Decrease) / increase in other liabilities 812.09 330.14
Decrease / (increase) in other bank balance (71.63) (5.09)
(207.25) (403.63)
Cash generated from operations 345.68 14.04
Add / (Less) :
Direct tax paid (excluding tax on transfer of leasehold land amounting to
` 25.64 Crores) (74.72) (65.17)
NET CASH GENERATED FROM OPERATING ACTIVITIES 270.96 (51.13)
B. CASH FLOW FROM INVESTING ACTIVITIES
Purchase of property plant and equipments, Investment properties and
intangible assets (121.28) (128.45)
Proceeds from sale of property plant and equipments and investment
properties 3.31 2.70
Interest received (finance income) 0.64 10.34
(Purchase) / sale of investments (net) 131.05 (98.28)
Proceeds from sale of Century Yarn & Denim division (net of disposal cost) - 49.22
Investment in joint venture (10.00) (15.00)
Proceeds from transfer of leasehold land (net of expenses towards transfer
and tax amounting to ` 25.64 Crores) 130.08 -
Dividend on investments 4.69 3.26
NET CASH FLOWS USED IN INVESTING ACTIVITIES 138.49 (176.21)

CONSOLIDATED CASH FLOW STATEMENT (Contd.)

(` in Crores)
Particulars
31 March 2023 31 March 2022
C. CASH FLOW FROM FINANCING ACTIVITIES
Contribution from Non-Controlling Interest 1.41 19.83
Proceeds from borrowings 493.78 376.50
Repayment of borrowings (586.09) (400.92)
Net proceeds / (repayment) of short term borrowings (343.27) 311.08
Dividend paid (44.68) (11.48)
Lease liability paid (4.05) (4.43)
Interest paid (70.58) (83.83)
NET CASH FLOWS FROM / (USED IN) FINANCING ACTIVITIES (553.48) 206.75
NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS (144.03) (20.59)
Cash and cash equivalents at the beginning of the year 23.66 44.25
Cash and cash equivalents at the year end - (Refer note below) (120.37) 23.66
As at As at
Particulars
31 March 2023 31 March 2022
Reconciliation of cash and cash equivalents as per the cash flow statement
Cash and cash equivalents as per the above comprise of the following
Cash and cash equivalents - (Refer note 11) 48.51 34.82
Cash credit and overdraft facilities from banks - (Refer note 18) (168.88) (11.16)
Balance as per cash flow statement (120.37) 23.66


NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

1. Corporate information returns. The entities are consolidated from the date
Century Textiles & Industries Limited (‘Company’ or control commences until the date control ceases.
‘Parent Company’) is a public company domiciled in
Consolidation procedure:
India and is incorporated under the provisions of the
Companies Act, applicable in India. The principal place The consolidated Ind AS financial statements of the
of business of the Company is located at Century Group companies are consolidated on a line-by-line
Bhawan, Dr. A. B. Road, Worli, Mumbai. The Company basis and intra-group balances and transactions
and its subsidiaries (‘Group’) is principally engaged including unrealised gain/loss from such transactions
in the business of Textiles, Pulp and Paper and Real are eliminated upon consolidation. These consolidated
estate. Ind AS financial statements are prepared by applying
uniform accounting policies in use at the Group. Profit
The financial statements were approved for issue in
or loss and each component of other comprehensive
accordance with a resolution of the board of directors
income (OCI) are attributed to the equity holders of
on 24 April 2023.
the parent of the Group and to the non-controlling
2A. Significant Accounting Policies interests, even if this results in the non-controlling
interest having a deficit balance.
2.1 Basis of preparation Changes in the Group’s holding that do not result
The Consolidated financial statements of the Group in a loss of control are accounted for as equity
have been prepared in accordance with Indian transactions. The carrying amount of the Group’s
Accounting Standards (Ind AS) notified under the holding and the non-controlling interests are adjusted
Companies (Indian Accounting Standards) Rules, to reflect the changes in their relative holding. Any
2015 (as amended from time to time) and presentation difference between the amount by which the non-
requirements of Division II of Schedule III to the controlling interests are adjusted and the fair value
Companies Act, 2013, (Ind AS compliant Schedule III), of the consideration paid or received is recognised
as applicable to the CFS. directly in equity and attributed to owners of the Group.
The Consolidated financial statements have been
Group Information:
prepared on a historical cost basis, except for the
following assets and liabilities which have been The consolidated financial statements of the Group
measured at fair value amount: include subsidiaries listed in the table below:
• Derivative financial instruments, Name Principal Country of % equity interest

activities incorporation
• Certain financial assets and liabilities measured 31-Mar-23 31-Mar-22
at fair value (refer accounting policy regarding Birla Real India 100 100
Estates Estate
financial instruments),
Pvt. Ltd.
• Non-cash distribution liability Avarna Real India 50 50
The financial statements are presented in INR and Projects Estate
LLP
all values are rounded to the nearest crores (INR
Birla Real India 40 40
00,00,000), except when otherwise indicated.
Tisya Estate
LLP
Basis of consolidation
Birla Real India 47 47
The Group consolidates all entities which are controlled Arnaa Estate
LLP
by it. The consolidated Ind AS financial statements
comprise the financial statements of the Company Birla Trading India 100 100
Century in textiles
and its subsidiaries. Control exists when the parent Exports
has power over the entity, is exposed, or has rights, to Pvt. Ltd.
variable returns from its involvement with the entity Birla Trading United States 100 100
and has the ability to affect those returns by using its Century in textiles
LLC
power over the entity. Power is demonstrated through
existing rights that give the ability to direct relevant Consolidation of entities in which the Group holds less
activities, those which significantly affect the entity’s than a majority of voting rights (de facto control):

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
The Group controls the decision related to the all 2.3 Fair value measurement
relevant activities in respect of the operation of the The Group measures financial instruments, such
enitity and hence has consolidated the LLP’s as as derivatives, investments etc, at fair value at each
subsidiaries as per Ind AS-110 even though group balance sheet date. Fair value is the price that would
holds 50% or less voting rights in the LLPs. be received to sell an asset or paid to transfer a liability
in an orderly transaction between market participants
2.2 Current versus non-current classification at the measurement date. The fair value measurement
The Group presents assets and liabilities in the balance is based on the presumption that the transaction to
sheet based on current / non-current classification. An sell the asset or transfer the liability takes place either:
asset is treated as current when it is: • In the principal market for the asset or liability, or
• Expected to be realised or intended to be sold or • In the absence of a principal market, in the most
consumed in normal operating cycle advantageous market for the asset or liability
• Held primarily for the purpose of trading The principal or the most advantageous market must
• Expected to be realised within twelve months be accessible by the Group. The fair value of an asset
after the reporting period, or or a liability is measured using the assumptions that
market participants would use when pricing the asset
• Cash or cash equivalent unless restricted from
or liability, assuming that market participants act in
being exchanged or used to settle a liability for at
their economic best interest.
least twelve months after the reporting period
A fair value measurement of a non-financial asset
All other assets are classified as non-current.
takes into account a market participant’s ability to
A liability is current when: generate economic benefits by using the asset in its
• It is expected to be settled in normal operating highest and best use or by selling it to another market
cycle participant that would use the asset in its highest and
• It is held primarily for the purpose of trading best use.
• It is due to be settled within twelve months after The Group uses valuation techniques that are
the reporting period, or appropriate in the circumstances and for which
sufficient data are available to measure fair value,
• There is no unconditional right to defer the
maximising the use of relevant observable inputs and
settlement of the liability for at least twelve
minimising the use of unobservable inputs.
months after the reporting period.
All assets and liabilities for which fair value is
The Group classifies all other liabilities as non-current. measured or disclosed in the financial statements are
Deferred tax assets and liabilities are classified as categorised within the fair value hierarchy, described
non-current assets and liabilities. The operating as follows, based on the lowest level input that is
cycle is the time between the acquisition of assets significant to the fair value measurement as a whole:
for processing and their realisation in cash and cash • Level 1 — Quoted (unadjusted) market prices in
equivalents. Except for the under construction real active markets for identical assets or liabilities
estate business, the Group has identified twelve
• Level 2 — Valuation techniques for which the
months as its operating cycle.
lowest level input that is significant to the fair
The normal operating cycle in respect of operation value measurement is directly or indirectly
relating to under construction real estate project observable
depends on signing of agreement, size of the project, • Level 3 — Valuation techniques for which the
phasing of the project, type of development, project lowest level input that is significant to the fair
complexities, approvals needed and realisation of value measurement is unobservable.
project into cash and cash equivalents and range
For assets and liabilities that are recognised in the
from 3 to 7 years. Accordingly, project related assets
financial statements on a recurring basis, the Group
and liabilities have been classified into current and
determines whether transfers have occurred between
non-current based on operating cycle of respective
levels in the hierarchy by re-assessing categorisation
projects. All other assets and liabilities have been
(based on the lowest level input that is significant to
classified into current and non-current based on a
the fair value measurement as a whole) at the end of
period of twelve months.
each reporting period.

For the purpose of fair value disclosures, the Group To estimate the transaction price in a contract, the
has determined classes of assets and liabilities on the Group adjusts the promised amount of consideration
basis of the nature, characteristics and risks of the for the time value of money if that contract contains
asset or liability and the level of the fair value hierarchy a significant financing component. The Group when
as explained above. adjusting the promised amount of consideration for
This note summarises accounting policy for fair value. a significant financing component is to recognise
Other fair value related disclosures are given in the revenue at an amount that reflects the cash selling
relevant notes. price of the transferred residential unit.
2.4 Revenue from contract with customer Sale of services
Revenue from contracts with customers is recognised The Group recognises revenue from facility
when control of the goods or services are transferred management services over time, using an input
to the customer at an amount that reflects the method to measure progress towards complete
consideration to which the Group expects to be satisfaction of the service, because the customer
entitled in exchange for those goods or services. The simultaneously receives and consumes the benefits
Group has generally concluded that it is the principal in provided by the Group.
its revenue arrangements, because it typically controls
the goods or services before transferring them to the Variable Consideration
customer. If the consideration in a contract includes a variable
Goods and Service tax (GST) is not received by the amount, the Group estimates the amount of
Group on its own account. Rather, it is tax collected on consideration to which it will be entitled in exchange
value added to the commodity by the seller on behalf for transferring the goods to the customer. The
of the government. Accordingly, it is excluded from variable consideration is estimated at contract
revenue. inception and constrained until it is highly probable
that a significant revenue reversal in the amount of
Sale of Goods cumulative revenue recognised will not occur when the
associated uncertainty with the variable consideration
Revenue from sale of goods is recognised at the point
is subsequently resolved. Some contracts for the sale
in time when control of the asset is transferred to
provide customers with discounts. The discounts give
the customer, generally on delivery of the goods The
rise to variable consideration.
Group considers whether there are other promises in
the contract that are separate performance obligations
Discounts
to which a portion of the transaction price needs to
be allocated in determining the transaction price for Discounts includes target and growth rebates, price
the sale of goods, the Group considers the effects of reductions, incentives to customers or retailers. To
variable consideration, and consideration payable to estimate the amount of discount, the Group applies
the customer (if any). accumulated experience using the most likely method.
The Group determines that the estimates of discounts
Sale of real estate units are not constrained based on its historical experience,
business forecast and the current economic
Revenue is recognized upon transfer of control of
conditions. The Group then applies the requirements
residential units or service to customers, in an amount
on constraining estimates of variable consideration
that reflects the consideration the Group expects
and recognises a refund liability for the expected
to receive in exchange for those residential units.
discount. No element of financing is deemed present
The Group determines the performance obligations
as the sales are made with credit terms largely ranging
associated with the contract with customers at
between 7 days to 120 days.
contract inception and also determine whether they
satisfy the performance obligation over time or at a
Contract balances
point in time. In case of residential units, the Group
satisfies the performance obligation and recognises Contract assets
revenue at a point in time i.e., upon completion and
A contract asset is the right to consideration in
delivery of possession of the residential units to the
exchange for goods or services transferred to the
customers as per the agreement.

customer. If the Group performs by transferring goods Profit and Loss as a part of other operating revenues
or services to a customer before the customer pays whereas grants related to royalty, power incentives
consideration or before payment is due, a contract and interest subsidies are netted of from the related
asset is recognised for the earned consideration that expenses.
is conditional.
2.6 Taxes
Trade receivables
A receivable represents the Group’s right to an amount Current tax
of consideration that is unconditional (i.e., only the Current income tax assets and liabilities are measured
passage of time is required before payment of the at the amount expected to be recovered from or paid
consideration is due). to the taxation authorities. The tax rates and tax
laws used to compute the amount are those that are
Contract liabilities enacted by the end of the reporting period.
A contract liability is the obligation to transfer goods or Current income tax relating to items recognised
services to a customer for which the Group has received outside profit or loss is recognised outside profit or
consideration (or an amount of consideration is due) loss. Current tax items are recognised in correlation to
from the customer. If a customer pays consideration the underlying transaction either in OCI or directly in
before the Group transfers goods or services to the equity. Management periodically evaluates positions
customer, a contract liability is recognised when the taken in the tax returns with respect to situations
payment is made or the payment is due (whichever is in which applicable tax regulations are subject to
earlier). Contract liabilities are recognised as revenue interpretation and establishes provisions where
when the Group performs under the contract appropriate.
Refund liabilities Deferred tax

A refund liability is the obligation to refund some or all Deferred tax is provided using the liability method on
of the consideration received (or receivable) from the temporary differences between the tax bases of assets
customer and is measured at the amount the Group and liabilities and their carrying amounts for financial
ultimately expects it will have to return to the customer. reporting purposes at the reporting date. Deferred
The Group updates its estimates of refund liabilities tax is recognised on temporary differences between
(and the corresponding change in the transaction the carrying amounts of assets and liabilities in the
price) at the end of each reporting period. financial statements and the corresponding tax bases
used in the computation of taxable profit. Deferred
2.5 Government grants tax liabilities are recognised for all taxable temporary
Government grants are recognised where there is differences. Deferred tax assets are generally
reasonable assurance that the grant will be received recognised for all deductible temporary differences to
and all attached conditions will be complied with. When the extent that it is probable that taxable profits will
the grant relates to an expense item, it is recognised as be available against which those deductible temporary
income on a systematic basis over the periods that the differences can be utilised. Such deferred tax assets
related costs, for which it is intended to compensate, and liabilities are not recognised if the temporary
are expensed. When the grant relates to an asset, it difference arises from the initial recognition of assets
is recognised as income in equal amounts over the and liabilities in a transaction that affects neither the
expected useful life of the related asset. taxable profit nor the accounting profit.
When the Group receives grants of non-monetary The carrying amount of deferred tax assets is reviewed
assets, the asset and the grant are recorded at fair at the end of each reporting period and reduced to
value amounts and released to profit or loss over the the extent that it is no longer probable that sufficient
expected useful life in a pattern of consumption of taxable profits will be available to allow all or part of the
the benefit of the underlying asset i.e. by equal annual asset to be utilised.
instalments. Unrecognised deferred tax assets are re-assessed at
Government grants such as sales tax incentive, export each reporting date and are recognised to the extent
benefit schemes are recognized in the Statement of that it has become probable that future taxable profits
will allow the deferred tax asset to be recovered.

Deferred tax liabilities and assets are measured at the - When receivables and payables are stated with
tax rates that are expected to apply in the period in the amount of tax included
which the liability is settled or the asset realised, based The net amount of tax recoverable from, or payable to,
on tax rates (and tax laws) that have been enacted the taxation authority is included as part of receivables
or substantively enacted by the end of the reporting or payables in the balance sheet.
period.
Deferred tax relating to items recognised outside profit 2.7 Property, plant and equipments
or loss is recognised outside profit or loss. Deferred tax Capital work in progress is stated at cost, net of
items are recognised in correlation to the underlying accumulated impairment loss, if any. Plant and
transaction in OCI or equity. equipment is stated at cost, net of accumulated
The measurement of deferred tax liabilities and assets depreciation and accumulated impairment losses,
reflects the tax consequences that would follow from if any. Such cost includes the cost of replacing part
the manner in which the Group expects, at the end of of the plant and equipment and borrowing costs for
the reporting period, to recover or settle the carrying long-term construction projects if the recognition
amount of its assets and liabilities. criteria are met. When significant parts of plant and
equipment are required to be replaced at intervals,
Current and deferred tax for the year the Group depreciates them separately based on their
Current and deferred tax are recognised in profit specific useful lives. Likewise, when a major inspection
or loss, except when they relate to items that are is performed, its cost is recognised in the carrying
recognised in other comprehensive income or directly amount of the plant and equipment as a replacement
in equity, in which case, the current and deferred tax if the recognition criteria are satisfied. All other repair
are also recognised in other comprehensive income or and maintenance costs are recognised in profit or loss
directly in equity respectively. as incurred.
Depreciation is recognised so as to amortise the cost of
Minimum Alternate Tax (MAT)
assets (other than freehold land and properties under
Minimum alternate tax (MAT) paid in a year is charged construction) less their residual values over their useful
to the statement of profit and loss as current tax for lives, using the straight-line method. The estimated
the year. useful lives, residual values and depreciation method
The deferred tax asset is recognised for MAT credit are reviewed at the end of each reporting period, with
available only to the extent that it is probable that the the effect of any changes in estimate accounted for on
concerned Group will pay normal income tax during a prospective basis.
the specified period, i.e., the period for which MAT
Depreciation is calculated on a straight-line basis over
credit is allowed to be carried forward. In the year in
the estimated useful lives of the assets as follows:
which the Group recognizes MAT credit as an asset,
it is created by way of credit to the statement of profit Asset Class Useful life
and loss as credit in current tax expense and shown Buildings 30 years – 60 years
as part of deferred tax asset. The Group reviews the Plant & equipments 3 years – 25 years
“MAT credit entitlement” asset at each reporting date Electric installations 3 years – 10 years
and writes down the asset to the extent that it is no
Furniture & fixtures 3- 10 years
longer probable that it will pay normal tax during the
Office equipments 3-10 years
specified period
Vehicles 5 -10 years
GST paid on acquisition of assets or on incurring The management has estimated the above useful life
expenses and the same is supported by technical experts, where
Expenses and assets are recognised net of the amount relevant.
of GST paid, except: Refer Note 2.11 on Accounting of leases as per Ind As
- When the tax incurred on a purchase of assets 116 applied from April 1, 2019 for right of use.
or services is not recoverable from the taxation An item of property, plant and equipment is
authority, in which case, the tax paid is recognized derecognised upon disposal or when no future
as part of the cost of acquisition of the asset or as economic benefits are expected to arise from the
part of the expense item, as applicable continued use of the asset. Any gain or loss arising

on the disposal or retirement of an item of property, The Group classifies non-current assets and disposal
plant and equipment is determined as the difference groups as held for sale / distribution if their carrying
between the sales proceeds and the carrying amount amounts will be recovered principally through a sale /
of the asset and is recognised in profit or loss. distribution rather than through continuing use. Actions
required to complete the sale / distribution should
2.8 Intangible Assets indicate that it is unlikely that significant changes to
Intangible assets with finite useful lives that the sale will be made or that the decision to sell will
are acquired separately are carried at cost less be withdrawn. Management must be committed to the
accumulated amortisation and accumulated sale/distribution expected within one year from the
impairment losses. Amortisation is recognised on a date of classification.
straight-line basis over their estimated useful lives. For these purposes, sale transactions include
The estimated useful life and amortisation method are exchanges of non-current assets for other non-current
reviewed at the end of each reporting period, with the assets when the exchange has commercial substance.
effect of any changes in estimate being accounted for The criteria for held for sale / distribution classification
on a prospective basis. Cost of software capitalised is is regarded met only when the assets or disposal
amortised over its useful life which is estimated to be group is available for immediate sale / distribution in
a period of five years. Mining rights are amortised over its present condition, subject only to terms that are
the period of the respective mining agreement. usual and customary for sales / distribution of such
assets (or disposal groups), its sale / distribution
2.9 Investment properties is highly probable; and it will genuinely be sold, not
Investment properties are properties held to earn abandoned. The Group treats sale/distribution of the
rentals and/or for capital appreciation (including asset or disposal group to be highly probable when:
property under construction for such purposes). • The appropriate level of management is
Investment properties are measured initially at cost, committed to a plan to sell the asset (or disposal
including transaction costs. Subsequent to initial group),
recognition, investment properties are stated at cost
• An active programme to locate a buyer and
less accumulated depreciation and impairment losses,
complete the plan has been initiated (if applicable),
if any.
• The asset (or disposal group) is being actively
The cost includes the cost of replacing parts and
marketed for sale at a price that is reasonable in
borrowing costs for long-term construction projects
relation to its current fair value,
if the recognition criteria are met. When significant
parts of the investment properties are required to • The sale is expected to qualify for recognition as
be replaced at intervals, the Group depreciates them a completed sale within one year from the date of
separately based on their specific useful lives. All other classification and
repair and maintenance costs are recognised in profit • Actions required to complete the plan indicate
or loss as incurred. that it is unlikely that significant changes to
The Group, based on technical assessment made by the plan will be made or that the plan will be
management, depreciates the building over estimated withdrawn.
useful lives of 40 years. The management believes Non-current assets held for sale / for distribution to
that these estimated useful lives are realistic and owners and disposal groups are measured at the lower
reflect fair approximation of the period over which the of their carrying amount and the fair value less costs to
assets are likely to be used. sell / distribute. Assets and liabilities classified as held
Though the Group measures investment property for sale / distribution are presented separately in the
using cost based measurement, the fair value of balance sheet.
investment properties are disclosed in notes. Fair Property, plant and equipment and intangible assets
value are determined based on an annual evaluation once classified as held for sale / distribution are not
performed by an accredited external independent depreciated or amortised.
valuer. A disposal group qualifies as discontinued operation
if it is a component of an entity that either has been
2.10 Non-current assets held for sale / distribution to disposed of, or is classified as held for sale, and:
owners and discontinued operations

• Represents a separate major line of business or the present value of lease payments to be made
geographical area of operations, over the lease term. In calculating the present
• Is part of a single co-ordinated plan to dispose of value of lease payments, the Group generally
a separate major line of business or geographical uses its incremental borrowing rate at the lease
area of operations. commencement date if the discount rate implicit
in the lease is not readily determinable.
Discontinued operations are excluded from the results
of continuing operations and are presented as a single After the commencement date, the amount of
amount as profit or loss after tax from discontinued lease liabilities is increased to reflect the accretion
operations in the statement of profit and loss. of interest and reduced for the lease payments
made. The carrying amount is remeasured when
Additional disclosures are provided in Note 35. All
there is a change in future lease payments arising
other notes to the financial statements mainly include
from a change in index or rate. In addition, the
amounts for continuing operations, unless otherwise
carrying amount of lease liabilities is remeasured
mentioned.
if there is a modification, a change in the lease
2.11 Leases term, a change in the lease payments or a change
in the assessment of an option to purchase the
At inception of contract, the Group assesses whether
underlying asset.
the Contract is, or contains, a lease. A contract is, or
contains, a lease if the contract conveys the right to The Group presents lease liabilities under
control the use of an identified asset for a period of financial liabilities in the Balance Sheet.
time in exchange for consideration. At inception or
iii) Short term leases and leases of low value of
on reassessment of a contract that contains a lease
assets
component, the Group allocates consideration in the
contract to each lease component on the basis of their The Group applies the short-term lease
relative standalone price. recognition exemption to its short-term leases.
It also applies the lease of low-value assets
As a lessee recognition exemption that are considered to be
low value. Lease payments on short-term leases
i) Right-of-use assets and leases of low value assets are recognised as
The Group recognises right-of-use assets at expense on a straight-line basis over the lease
the commencement date of the lease. Right- term.
of-use assets are measured at cost, less any
accumulated depreciation and impairment As a lessor
losses, and adjusted for any remeasurement of Leases in which the Group does not transfer
lease liabilities. The cost of right-of-use assets substantially all the risks and rewards of
includes the amount of lease liabilities recognised, ownership of an asset are classified as operating
initial direct costs incurred, lease payments made leases. Rental income from operating lease is
at or before the commencement date less any recognised on a straight-line basis over the term
lease incentives received and estimate of costs to of the relevant lease. Initial direct costs incurred
dismantle. Right-of-use assets are depreciated in negotiating and arranging an operating lease
on a straight-line basis over the shorter of the are added to the carrying amount of the leased
lease term and the estimated useful lives of the asset and recognised over the lease term on the
assets. same basis as rental income. Contingent rents
The Group presents right-to-use assets within are recognised as revenue in the period in which
the same line item as that within which the they are earned.
corresponding underlying assets would be Leases are classified as finance leases when
presented if they were owned by the Group. substantially all of the risks and rewards of
ownership transfer from the Group to the lessee.
ii) Lease liabilities Amounts due from lessees under finance leases
At the commencement date of the lease, the are recorded as receivables at the Group’s net
Group recognises lease liabilities measured at investment in the leases. Finance lease income

is allocated to accounting periods so as to reflect recoverable amount, the asset is considered impaired
a constant periodic rate of return on the net and is written down to its recoverable amount.
investment outstanding in respect of the lease. In assessing value in use, the estimated future cash
flows are discounted to their present value using a
2.12 Borrowing costs pre-tax discount rate that reflects current market
Borrowing costs directly attributable to the acquisition, assessments of the time value of money and the risks
construction or production of an asset that necessarily specific to the asset. In determining fair value less
takes a substantial period of time to get ready for its costs of disposal, recent market transactions are taken
intended use or sale are capitalised as part of the cost into account. If no such transactions can be identified,
of the asset. Borrowing cost also includes exchange an appropriate valuation model is used. These
differences to the extent regarded as an adjustment to calculations are corroborated by valuation multiples,
the borrowing costs. quoted share prices for publicly traded companies or
other available fair value indicators.
2.13 Inventories
The Group bases its impairment calculation on detailed
Inventories are valued at the lower of cost and net budgets and forecast calculations, which are prepared
realisable value. separately for each of the Group’s CGUs to which the
Costs incurred in bringing each product to its present individual assets are allocated. These budgets and
location and condition are accounted for as follows: forecast calculations generally cover a period of five
• Raw materials: cost includes cost of purchase and years. For longer periods, a long-term growth rate is
other costs incurred in bringing the inventories calculated and applied to project future cash flows
to their present location and condition. Cost is after the fifth year. To estimate cash flow projections
determined on weighted average cost basis. beyond periods covered by the most recent budgets/
forecasts, the Group extrapolates cash flow projections
• Finished goods and work in progress: cost
in the budget using a steady or declining growth rate
includes cost of direct materials and labour and
for subsequent years, unless an increasing rate can be
a proportion of manufacturing overheads based
justified. In any case, this growth rate does not exceed
on the normal operating capacity but excluding
the long-term average growth rate for the products,
borrowing costs. Cost is determined on weighted
industries, or country or countries in which the entity
average cost basis.
operates, or for the market in which the asset is used.
• Traded goods: cost includes cost of purchase and
Impairment loss of continuing operations, including
other costs incurred in bringing the inventories
impairment on inventories is recognised in the
to their present location and condition. Cost is
statement of profit and loss.
determined on weighted average basis.
Net realisable value is the estimated selling price in 2.15 Provisions
the ordinary course of business, less estimated costs
Provisions are recognised when the Group has a
of completion and the estimated costs necessary to
present obligation (legal or constructive) as a result
make the sale.
of a past event, it is probable that the Group will be
required to settle the obligation, and a reliable estimate
2.14 Impairment of non-financial assets
can be made of the amount of the obligation.
The Group assesses, at each reporting date, whether
The amount recognised as a provision is the best
there is an indication that an asset may be impaired.
estimate of the consideration required to settle the
If any indication exists, or when annual impairment
present obligation at the end of the reporting period,
testing for an asset is required, the Group estimates the
taking into account the risks and uncertainties
asset’s recoverable amount. An asset’s recoverable
surrounding the obligation. When a provision is
amount is the higher of an asset’s or cash-generating
measured using the cash flows estimated to settle the
units (CGU) fair value less costs of disposal and its
present obligation, its carrying amount is the present
value in use. Recoverable amount is determined
value of those cash flows (when the effect of the time
for an individual asset, unless the asset does not
value of money is material).
generate cash inflows that are largely independent
of those from other assets or group of assets. When When some or all of the economic benefits required to
the carrying amount of an asset or CGU exceeds its settle a provision are expected to be recovered from a

third party, a receivable is recognised as an asset if it already paid exceeds the contribution due for services
is virtually certain that reimbursement will be received received before the balance sheet date, then excess
and the amount of the receivable can be measured is recognized as an asset to the extent that the pre-
reliably. payment will lead to, for example, a reduction in future
payment or a cash refund.
Onerous contracts
If the Group has a contract that is onerous, the present Defined benefit plans
obligation under the contract is recognised and The Group provides for retirement benefit in the form
measured as a provision. However, before a separate of gratuity. The Group’s liability towards this benefit is
provision for an onerous contract is established, determined on the basis of actuarial valuation using
the Group recognises any impairment loss that has Projected Unit Credit Method at the date of balance
occurred on assets dedicated to that contract. sheet.
An onerous contract is a contract under which the In respect of certain employees, provident fund
unavoidable costs (i.e., the costs that the Group contributions are made to a trust administered by the
cannot avoid because it has the contract) of meeting Group. Periodic contributions to the Fund are charged
the obligations under the contract exceed the to the Statement of profit and loss. The Group has an
economic benefits expected to be received under it. obligation to make good the shortfall, if any, between
The unavoidable costs under a contract reflect the the return from the investment of the trust and interest
least net cost of exiting from the contract, which is the rate notified by the Government of India. Such shortfall
lower of the cost of fulfilling it and any compensation is recognized in the Statement of profit and loss.
or penalties arising from failure to fulfill it The Group’s liability is determined on the basis of
an actuarial valuation using the projected unit credit
2.16 Cash and cash equivalents method.
Cash and cash equivalents in the balance sheet Remeasurement, comprising of actuarial gains and
comprise cash at banks and on hand and short-term losses, the effect of the asset ceiling, excluding
deposits with an original maturity of three months amounts included in net interest on the net defined
or less, which are subject to an insignificant risk of benefit liability and the return on plan assets (excluding
changes in value. amounts included in net interest on the net defined
For the purpose of the statement of cash flows, cash benefit liability), are recognised immediately in the
and cash equivalents consist of cash and short-term balance sheet with a corresponding debit or credit to
deposits, as defined above, net of outstanding bank retained earnings through OCI in the period in which
overdrafts as they are considered an integral part of they occur. Remeasurement is not reclassified to
the Group’s cash management. profit or loss in subsequent periods.
Past service costs are recognised in profit or loss on
2.17 Employee Benefits the earlier of:
• The date of the plan amendment or curtailment
Defined Contribution plans
and
For certain employees of the Group, employee benefit
• The date that the Group recognises related
in the form of Provident fund, Employees State
restructuring costs
Insurance Contribution and Labour Welfare fund
are defined contribution plans. The Group has no Net interest is calculated by applying the discount rate
obligation, other than the contribution payable to the to the net defined benefit liability or asset. The Group
respective fund. The Group recognizes contribution recognises the following changes in the net defined
payable to the provident fund scheme as an expense, benefit obligation as an expense in statement of profit
when an employee renders the related service. If and loss:
the contribution payable to the scheme for service • Service costs comprising current service
received before the balance sheet date exceeds the costs, past-service costs, gains and losses on
contribution already paid, the deficit payable to the curtailments and non-routine settlements; and
scheme is recognized as a liability after deducting • Net interest expense or income
the contribution already paid. If the contribution

Compensated absences 2.20 Financial instruments

Accumulated leave, which is expected to be utilized A financial instrument is any contract that gives rise to
within the next 12 months, is treated as short-term a financial asset of one entity and a financial liability or
employee benefit and this is shown under current equity instrument of another entity.
provision in the Balance Sheet. The Group measures
the expected cost of such absences as the additional Financial assets
amount that it expects to pay as a result of the unused
entitlement that has accumulated at the reporting Initial recognition and measurement
date. All financial assets are recognised initially at fair value
The Group treats accumulated leave expected to be plus, in the case of financial assets not recorded at fair
carried forward beyond twelve months, as long-term value through profit or loss, transaction costs that are
employee benefit for measurement purposes and this attributable to the acquisition of the financial asset.
is shown under long term provisions in the Balance
Sheet. Such long-term compensated absences are
provided for based on the actuarial valuation using the For purposes of subsequent measurement, financial
projected unit credit method at the year-end. Actuarial assets are classified in four categories:
gains / losses are immediately taken to the Statement • Financial Assets at amortised cost
of Profit and Loss and are not deferred. The Group • Financial Assets at fair value through other
presents the leave as a current liability in the balance comprehensive income (FVTOCI)
sheet, to the extent it does not have an unconditional
• Financial Assets including derivatives and equity
right to defer its settlement for 12 months after the
instruments at fair value through profit or loss
reporting date. Where the Group has the unconditional
(FVTPL)
legal and contractual right to defer the settlement for
a period beyond 12 months, the same is presented as • Equity instruments measured at fair value
non-current liability. through other comprehensive income (FVTOCI)
2.18 Research and Development Debt instruments at amortised cost
Research expenditure, including overheads, on A ‘debt instrument’ is measured at the amortised cost
research and development, is charged as an expense if both the following conditions are met:
in the year in which incurred. a) The asset is held within a business model
whose objective is to hold assets for collecting
2.19 Foreign currencies contractual cash flows, and
The Group’s financial statements are presented in INR, b) Contractual terms of the asset give rise on
which is also the Group’s functional currency. specified dates to cash flows that are solely
Transactions in foreign currencies are initially payments of principal and interest (SPPI) on the
recorded by the Group at INR spot rate at the date, the principal amount outstanding.
transaction first qualifies for recognition. Monetary After initial measurement, such financial assets are
assets and liabilities denominated in foreign currencies subsequently measured at amortised cost using the
are translated at the functional currency spot rates of effective interest rate (EIR) method. Amortised cost
exchange at the reporting date. is calculated by taking into account any discount
Exchange differences arising on settlement or or premium on acquisition and fees or costs that
translation of monetary items are recognised in profit are an integral part of the EIR. The EIR amortisation
or loss. is included in other income in the profit or loss. The
losses arising from impairment are recognised in the
Non-monetary items that are measured in terms of
profit or loss. This category generally applies to trade
historical cost in a foreign currency are translated
and other receivables, loans and other financial assets.
using the exchange rates at the dates of the initial
transactions.

Equity investments Impairment of financial assets

All equity investments in scope of Ind AS 109 are In accordance with Ind AS 109, the Group applies
measured at fair value. For all equity instruments, the expected credit loss (ECL) model for measurement
Group may make an irrevocable election to present in and recognition of impairment loss on the following
other comprehensive income subsequent changes in financial assets and credit risk exposure:
the fair value. All fair value changes on the instrument, a) Financial assets that are debt instruments, and
excluding dividends, are recognized in the OCI. There are measured at amortised cost e.g., loans, debt
is no recycling of the amounts from OCI to P&L, securities, deposits, trade receivables and bank
even on sale of investment. However, the Group may balance
transfer the cumulative gain or loss within equity. The
b) Financial assets that are equity instruments and
Group has made such election on an instrument-by-
are measured as at FVTOCI
instrument basis. The classification is made on initial
recognition and is irrevocable. c) Lease receivables under Ind AS 17
d) Trade receivables or any contractual right to
Derecognition receive cash or another financial asset that result
A financial asset (or, where applicable, a part of a from transactions that are within the scope of Ind
financial asset or part of a group of similar financial AS 115
assets) is primarily derecognised when: The Group follows ‘simplified approach’ for recognition
• The rights to receive cash flows from the asset of impairment loss allowance on:
have expired or • Trade receivables
• The Group has transferred its rights to receive • All lease receivables resulting from transactions
cash flows from the asset or has assumed an within the scope of Ind AS 17
obligation to pay the received cash flows in full The application of simplified approach does not
without material delay to a third party under a require the Group to track changes in credit risk.
‘pass-through’ arrangement; and either (a) the Rather, it recognises impairment loss allowance based
Group has transferred substantially all the risks on lifetime ECLs at each reporting date, right from its
and rewards of the asset, or (b) the Group has initial recognition.
neither transferred nor retained substantially
For recognition of impairment loss on other financial
all the risks and rewards of the asset, but has
assets and risk exposure, the Group determines that
transferred control of the asset.
whether there has been a significant increase in the
When the Group has transferred its rights to receive credit risk since initial recognition. If credit risk has
cash flows from an asset or has entered into a pass- not increased significantly, 12-month ECL is used to
through arrangement, it evaluates if and to what extent it provide for impairment loss. However, if credit risk
has retained the risks and rewards of ownership. When has increased significantly, lifetime ECL is used. If, in
it has neither transferred nor retained substantially all a subsequent period, credit quality of the instrument
of the risks and rewards of the asset, nor transferred improves such that there is no longer a significant
control of the asset, the Group continues to recognise increase in credit risk since initial recognition, then
the transferred asset to the extent of the Group’s the entity reverts to recognising impairment loss
continuing involvement. In that case, the Group also allowance based on 12-month ECL.
recognises an associated liability. The transferred
Lifetime ECL are the expected credit losses resulting
asset and the associated liability are measured on a
from all possible default events over the expected
basis that reflects the rights and obligations that the
life of a financial instrument. The 12-month ECL is a
Group has retained.
portion of the lifetime ECL which results from default
Continuing involvement that takes the form of a events that are possible within 12 months after the
guarantee over the transferred asset is measured at reporting date.
the lower of the original carrying amount of the asset
ECL is the difference between all contractual cash
and the maximum amount of consideration that the
flows that are due to the Group in accordance with the
Group could be required to repay.
contract and all the cash flows that the entity expects

to receive (i.e., all cash shortfalls), discounted at the the basis of shared credit risk characteristics with the
original EIR. When estimating the cash flows, an entity objective of facilitating an analysis that is designed
is required to consider: to enable significant increases in credit risk to be
• All contractual terms of the financial instrument identified on a timely basis.
(including prepayment, extension, call and similar The Group does not have any purchased of originated
options) over the expected life of the financial credit impaired (POCI) financial assets, i.e., financial
instrument. However, in rare cases when the assets which are credit impaired on purchase/
expected life of the financial instrument cannot origination.
be estimated reliably, then the entity is required
to use the remaining contractual term of the Financial liabilities
financial instrument
Initial recognition and measurement
• Cash flows from the sale of collateral held or
other credit enhancements that are integral to the Financial liabilities are classified, at initial recognition,
contractual terms as financial liabilities at fair value through profit or
loss, loans and borrowings, payables, or as derivatives
As a practical expedient, the Group uses a provision
designated as hedging instruments in an effective
matrix to determine impairment loss allowance on
hedge, as appropriate.
portfolio of its trade receivables. The provision matrix
All financial liabilities are recognised initially at fair
is based on its historically observed default rates
value and, in the case of loans and borrowings and
over the expected life of the trade receivables and
payables, net of directly attributable transaction costs.
is adjusted for forward-looking estimates. At every
reporting date, the historical observed default rates are The Group’s financial liabilities include trade and
updated and changes in the forward-looking estimates other payables, loans and borrowings including
are analysed. bank overdrafts, financial guarantee contracts and
derivative financial instruments.
ECL impairment loss allowance (or reversal)
recognized during the period is recognized as income /
expense in the statement of profit and loss (P&L). This
The measurement of financial liabilities depends on
amount is reflected under the head ‘other expenses’
their classification, as described below:
in the P&L. The balance sheet presentation for various
financial instruments is described below:
Financial liabilities at fair value through profit or loss
• Financial assets measured as at amortised
Gains or losses on liabilities held for trading are
cost, contractual revenue receivables and lease
recognised in the profit or loss. The Group has not
receivables: ECL is presented as an allowance,
designated any financial liability as at fair value
i.e., as an integral part of the measurement of
through profit and loss.
those assets in the balance sheet. The allowance
reduces the net carrying amount. Until the asset Loans and borrowings
meets write-off criteria, the Group does not
This is the category most relevant to the Group.
reduce impairment allowance from the gross
After initial recognition, interest-bearing loans and
carrying amount.
borrowings are subsequently measured at amortised
• Loan commitments and financial guarantee cost using the EIR method. Gains and losses are
contracts: ECL is presented as a provision in the recognised in profit or loss when the liabilities are
balance sheet, i.e. as a liability. derecognised as well as through the EIR amortisation
• Equity instruments measured at FVTOCI: Since process.
financial assets are already reflected at fair value, Amortised cost is calculated by taking into account
impairment allowance is not further reduced any discount or premium on acquisition and fees
from its value. Rather, ECL amount is presented or costs that are an integral part of the EIR. The EIR
as ‘accumulated impairment amount’ in the OCI. amortisation is included as finance costs in the
For assessing increase in credit risk and impairment statement of profit and loss.
loss, the Group combines financial instruments on

Derecognition accounting and the risk management objective and

A financial liability is derecognised when the obligation strategy for undertaking the hedge. The documentation
under the liability is discharged or cancelled or includes the Group’s risk management objective
expires. When an existing financial liability is replaced and strategy for undertaking hedge, the hedging /
by another from the same lender on substantially economic relationship, the hedged item or transaction,
different terms, or the terms of an existing liability the nature of the risk being hedged, hedge ratio and
are substantially modified, such an exchange or how the entity will assess the effectiveness of changes
modification is treated as the derecognition of the in the hedging instrument’s fair value in offsetting the
original liability and the recognition of a new liability. exposure to changes in the hedged item’s fair value
The difference in the respective carrying amounts is or cash flows attributable to the hedged risk. Such
recognised in the statement of profit or loss. hedges are expected to be highly effective in achieving
offsetting changes in fair value or cash flows and
Offsetting of financial instruments are assessed on an ongoing basis to determine that
Financial assets and financial liabilities are offset they actually have been highly effective throughout
and the net amount is reported in the balance sheet the financial reporting periods for which they were
if there is a currently enforceable legal right to offset designated.
the recognised amounts and there is an intention to
settle on a net basis, to realise the assets and settle Cash flow hedges
the liabilities simultaneously. The effective portion of the gain or loss on the hedging
instrument is recognised in OCI in the cash flow hedge
Derivative financial instruments: reserve, while any ineffective portion is recognised
The Group uses derivative financial instruments, such immediately in the statement of profit and loss.
as forward currency contracts, interest rate swaps to The Group uses forward currency contracts as hedges
manage its foreign currency risks and interest rate of its exposure to foreign currency risk in forecast
risks respectively. transactions and firm commitments. The ineffective
These derivative instruments are designated as cash portion relating to foreign currency contracts is
flow, fair value or net investment hedges and are recognised in finance costs.
entered into for period consistent with currency. Such Amounts recognised as OCI are transferred to profit or
derivative financial instruments are initially recognised loss when the hedged transaction affects profit or loss,
at fair value on the date on which a derivative contract such as when the hedged financial income or financial
is entered into and are subsequently re-measured at expense is recognised or when a forecast sale occurs.
fair value. Derivatives are carried as financial assets If the hedging instrument expires or is sold, terminated
when the fair value is positive and as financial liabilities or exercised without replacement or rollover (as part of
when the fair value is negative. Any gains or losses the hedging strategy), or if its designation as a hedge
arising from changes in the fair value of derivatives are is revoked, or when the hedge no longer meets the
recognised in the Statement of profit and loss except criteria for hedge accounting, any cumulative gain or
for the effective portion of cash flow hedges, which is loss previously recognised in OCI remains separately
recognised in OCI and later reclassified to profit or loss in equity until the forecast transaction occurs or the
when the hedge item affects profit or loss. foreign currency firm commitment is met.
For the purpose of hedge accounting, hedges are
classified as: 2.21 Earnings Per Share:
- Cash flow hedges when hedging the exposure to Basic Earnings per share (EPS) amounts are calculated
variability in cash flows that is either attributable by dividing the profit for the year attributable to equity
to a particular risk associated with a recognised holders by the weighted average number of equity
asset or liability or a highly probable forecast shares outstanding during the year.
transaction or the foreign currency risk in an Diluted EPS amounts are calculated by dividing the
unrecognised firm commitment profit attributable to equity holders adjusted for the
At the inception of a hedge relationship, the Group effects of potential equity shares by the weighted
formally designates and documents the hedge average number of equity shares outstanding during
relationship to which the Group wishes to apply hedge the year plus the weighted average number of equity

shares that would be issued on conversion of all the Estimates and assumptions:
dilutive potential equity shares into equity shares. The key assumptions concerning the future and other
key sources of estimation uncertainty at the reporting
2.22 Cash dividend and non-cash distribution to equity date, that have a significant risk of causing a material
holders adjustment to the carrying amounts of assets and
The Group recognises a liability to make cash or liabilities within the next financial year, are described
non-cash distributions to equity holders when the below. The Group has based its assumptions and
distribution is authorised, and the distribution is estimates on parameters available when the financial
no longer at the discretion of the Group. As per the statements were prepared. Existing circumstances
corporate laws, a distribution is authorised when it and assumptions about future developments,
is approved by the shareholders. A corresponding however, may change due to market changes or
amount is recognised directly in equity. circumstances arising that are beyond the control
Non-cash distributions are measured at the fair value of the Group. Such changes are reflected in the
of the assets to be distributed with fair value re- assumptions when they occur.
measurement recognised directly in equity.
a) Employee benefit plans
Upon distribution of non-cash assets, any difference
between the carrying amount of the liability and the The Group’s obligation on account of gratuity
carrying amount of the assets distributed is recognised and compensated absences is determined based
in the statement of profit and loss. on actuarial valuations. An actuarial valuation
involves making various assumptions that may
2.23 Contingent liabilities differ from actual developments in the future.
A contingent liability is a possible obligation that arises These include the determination of the discount
from past events whose existence will be confirmed rate, future salary increases and mortality rates.
by the occurrence or non-occurrence of one or more Due to the complexities involved in the valuation
uncertain future events beyond the control of the Group and its long-term nature, these liabilities are
or a present obligation that is not recognized because highly sensitive to changes in these assumptions.
it is not probable that an outflow of resources will be All assumptions are reviewed at each reporting
required to settle the obligation. A contingent liability date.
also arises in extremely rare cases where there is a The parameter most subject to change is the
liability that cannot be recognized because it cannot discount rate. In determining the appropriate
be measured reliably. The Group does not recognize discount rate, the management considers the
a contingent liability but discloses its existence in the interest rates of government bonds in currencies
financial statements. consistent with the currencies of the post-
employment benefit obligation.
2B. Significant accounting judgements, estimates and The mortality rate is based on publicly available
assumptions mortality tables. Those mortality tables tend
The preparation of the Group’s consolidated to change only at interval in response to
financial statements requires management to make demographic changes. Future salary increases
judgements, estimates and assumptions that affect and gratuity increases are based on expected
the reported amounts of revenues, expenses, assets future inflation rates.
and liabilities, and the Grouping disclosures, and the Further details about gratuity obligations are
disclosure of contingent liabilities. Uncertainty about given in Note 36.
these assumptions and estimates could result in
outcomes that require a material adjustment to the b) Fair value measurement of financial instruments
carrying amount of assets or liabilities affected in
When the fair values of financial assets and
future periods. Difference between actual results and
financial liabilities recorded in the balance sheet
estimates are recognised in the periods in which the
cannot be measured based on quoted prices in
results are known / materialised.
active markets, their fair value is measured using

valuation techniques including the DCF model. estimates. The definition of a “change in
The inputs to these models are taken from accounting estimates” has been replaced with
observable markets where possible, but where a definition of “accounting estimates.” Under
this is not feasible, a degree of judgement is the new definition, accounting estimates are
required in establishing fair values. Judgements “monetary amounts in financial statements that
include considerations of inputs such as are subject to measurement uncertainty.” Entities
liquidity risk, credit risk and volatility. Changes in develop accounting estimates if accounting
assumptions about these factors could affect the policies require items in financial statements to
reported fair value of financial instruments. See be measured in a way that involves measurement
Note 43 and 44 for further disclosures. uncertainty. The Company does not expect this
amendment to have any significant impact in its
c) Useful Lives of Property, Plant & Equipment: financial statements.
The Group uses its technical expertise along with
historical and industry trends for determining the (iii) Ind AS 12 – Income Taxes
economic life of an asset / component of an asset. The amendments narrowed the scope of the
The useful lives are reviewed by management recognition exemption in paragraphs 15 and 24
periodically and revised, if appropriate. In case of of Ind AS 12. At the date of transition to Ind ASs,
a revision, the unamortised depreciable amount a first-time adopter shall recognize a deferred
is charged over the remaining useful life of the tax asset to the extent that it is probable that
assets taxable profit will be available against which the
deductible temporary difference can be utilized.
2C. Amendments not yet effective Similarly, a deferred tax liability for all deductible
Ministry of Corporate Affairs (“MCA”) notifies new and taxable temporary differences associated
standard or amendments to the existing standards with:
under Companies (Indian Accounting Standards) a) right-of-use assets and lease liabilities
Rules as issued from time to time. On March 31, 2023,
b) decommissioning, restoration and similar
MCA amended the Companies (Indian Accounting
liabilities and the corresponding amounts
Standards) Amendment Rules, 2023, applicable from
recognized as part of the cost of the related
April 1, 2023, as below:
asset.
(i) Ind AS 1 – Disclosure of material accounting Therefore, if a company has not yet recognised
policies: deferred tax on right-of-use assets and lease
liabilities or has recognised deferred tax on net
The amendments related to shifting of disclosure
basis, the same need to recognize on gross basis
of erstwhile “significant accounting policies” to
based on the carrying amount of right-of-use
“material accounting policies” in the notes to
assets and lease liabilities.
the financial statements requiring companies
to reframe their accounting policies to make
(iv) Ind AS 103 – Common control Business
them more “entity specific. This amendment
Combination
aligns with the “material” concept already
The amendments modify the disclosure
required under International Financial Reporting
requirement for business combination under
Standards (IFRS). The Company does not expect
common control in the first financial statement
this amendment to have any significant impact in
following the business combination. It requires
its financial statements.
to disclose the date on which the transferee
(ii) Ind AS 8 – Definition of accounting estimates: obtains control of the transferor is required to be
disclosed.
The amendments will help entities to distinguish
between accounting policies and accounting

NOTE 3
408
A PROPERTY, PLANT AND EQUIPMENT
Land - Plant and Office Furniture Electric

Buildings Vehicles Total
Freehold Equipments Equipments and Fixtures Installations
I. Gross block
Additions - 13.52 130.42 0.62 2.82 2.10 0.01 149.49
Disposals (0.06) (0.21) (15.95) (0.52) (1.87) (1.36) (0.04) (20.01)
Transfer to investment properties (8.77) - - - - - - (8.77)
Additions - 11.50 93.11 2.87 2.34 2.95 9.08 121.85
Disposals (0.02) (2.27) (31.10) (1.13) (1.32) (1.77) (0.88) (38.49)
Transfer - (0.09) - - - - 0.09 -
Depreciation expense for the year 0.09 18.24 166.06 0.57 1.46 0.86 4.08 191.36
Depreciation expense for the year - 19.51 163.17 1.21 1.60 1.12 2.00 188.61
Transfer - (0.02) - - - - 0.02 -
Net block

NOTE 3 (Continued)
B. Right of use assets
(` in Crores)
Description Land Building Total
Cost
Balance as on 1 April 2021 due to adoption of Ind AS 116 58.08 17.75 75.83
Additions - - -
Disposals - - -
Disposals (25.66) (4.98) (30.64)
Accumulated depreciation
Balance as on 1 April 2021 due to adoption of Ind AS 116 9.42 4.05 13.47
Disposal of assets (3.18) (4.98) (8.16)
Net block
C: Net book value
(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
Owned assets 3076.07 3154.15
Right-of-use assets 35.58 58.62
Total 3111.65 3212.77
Notes:
i. During the year ended 31 March 2023 and 31 March 2022, no impairment indicators existed for any of its Cash
Generating Unit (CGU) and accordingly no provision for impairment has been recognised.
ii. Capitalised borrowing cost : No borrowing costs are capitalised on property, plant and equipment under construction
iii. Title deeds
(a) All title deeds of immovable properties included in property, plant and equipments are held in the name of the
Company as at 31st March 2023.
(b) Refer note 14 and note 18 for details of pledge and securities.

NOTE 3A CAPITAL WORK IN PROGRESS (CWIP)
(i) Ageing schedule
(` in Crores)
Amount in CWIP for a period of Total

1 year 3 years
As at 31 March 2023
Total 98.03 75.99 12.86 2.75 189.63
As at 31 March 2022
Total 129.24 30.90 3.00 10.76 173.90
(ii) CWIP completion schedule for projects overdue
To be completed in
Project Less than 1-2 years 2-3 years More than
1 year 3 years
As at 31 March 2023
Paper Machine 3 & 4 upgradation 3.81 - - -
As at 31 March 2022
Paper Machine 3 & 4 48.20 - - -
Paper Machine 6 5.75 - - -
100 KVA Transformer Project 8.57 - - -

NOTE 4 INVESTMENT PROPERTIES
(` in Crores)
Land Buildings Total
Particulars
(Including TDRs)
I. Gross Block
Balance as at 1 April 2021 7.67 1,042.02 1,049.69
Additions 2.46 0.27 2.73
Disposals - - -
Transferred from property, plant and equipment 8.77 - 8.77
Disposals - (11.52) (11.52)
Balance as at 1 April 2021 - 188.92 188.92
Disposal of assets - (1.73) (1.73)
Net Block
Notes :
(i) Information regarding Income and expenditure of Investment properties

(` in Crores)
Particulars
31 March 2023 31 March 2022
Rental income derived from Investment properties (See Note 21) 124.73 126.45
Direct operating expenses (including repairs and maintenance) generating (26.19) (22.99)
rental income
Profit arising from investment properties before depreciation and indirect 98.54 103.46
expenses
Less: Depreciation 32.49 33.54
Profit arising from investment properties before indirect expenses 66.05 69.92
(ii) Investment properties consist of two commercial buildings and a land in India which are leased to third parties.

NOTE 4 INVESTMENT PROPERTIES (Continued)

(iii) Out of the total land under Investment Properties, 6.31 acres of land amounting to ` 0.01 crores, which was allotted to the
Company on lease under the Poorer Class Accommodation Scheme 1898 as amended by 1913 Act and 1925 Act, which
stated that in the event of no default being made in complying with the conditions of the lease, then on expiry of the lease
all the right, title and interest shall vest with the Company. The lease expired in the year 1955 and the Company has filed
a petition for execution of formal deed of conveyance, refer below details
Relevant line Description Gross Title deeds Whether title deed holder Property Reason for not
item in the of item of carrying held in the is a promoter, director held since being held in
Balance sheet property value name of or relative of promoter / which date the name of the
(` in director or employee of company
Crores) promoter / director
Investment Land - 0.01 Municipal NO 50+ years Ongoing

properties Freehold Corporation litigation with
of Greater MCGM in
Mumbai Bombay High
(MCGM) Court
(iv) Refer note 14 and note 18 for details of pledge and securities.
(v) Capitalised borrowing cost :
No borrowing costs is capitalised during the year (31 March 2022 ` Nil) in Investment property under development.
(vi) Leasing arrangements
Certain investment properties are leased to tenants under long term operating leases with rentals payable monthly. (Refer
Note 45)
(vii) Fair value
Description of valuation techniques used and key inputs to valuation on investment properties:
(` in Crores)
Valuation technique Fair value hierarchy Fair Value

Particulars (See Note below) (See Note below)
31 March 2023 31 March 2022
Land (Worli land excluding Stamp Duty Reckoner rate Level 2 660.67 681.84
land classified as Real estate
inventory)
Commercial Property * Stamp Duty Reckoner rate Level 2 2328.84 2291.25

* Includes Investment property under development
viii. The above valuation of the investment properties are in accordance with the Ready Reckoner rates prescribed by
the Government of Maharashtra for the purpose of levying stamp duty. The Independent Valuer has referred to the
publications and Government website for Ready Reckoner rates. Suitable adjustments if required have been made to
account for availability of FSI in land parcels in Mumbai in accordance with the guidelines prescribed by the Department
of Registrations and Stamps. The adjustments related to floors, lifts and other factors are not considered for valuation of
commercial property. Since the valuation is based on the published Ready Reckoner rates, the Company has classified the
same under Level 2.

NOTE 4A INVESTMENT PROPERTY UNDER DEVELOPMENT (IPUD)
(i) Ageing schedule
(` in Crores)
Amount in IPUD for a period of Total
1 year 3 years
As at 31 March 2023
Total 0.62 0.11 0.15 35.53 36.41
As at 31 March 2022
Projects in progress 0.42 0.01 - 35.79 36.22
Total 0.42 0.01 - 35.79 36.22
NOTE 5 INTANGIBLE ASSETS
(` in Crores)
Particulars Computer softwares
I. Gross Block
Additions 1.30
Disposals (0.05)
Additions 2.95
Disposals -
Disposal of assets (0.04)
Disposal of assets -
Net Block

NOTE 5A INTANGIBLE ASSET UNDER DEVELOPMENT (IAUD)
(i) Ageing schedule
(` in Crores)
Amount in IAUD for a period of Total
1 year 3 years
As at 31 March 2023
Projects in progress - - 0.06 - 0.06
Total - - 0.06 - 0.06
As at 31 March 2022
Projects in progress 0.25 0.44 - - 0.69
Total 0.25 0.44 - - 0.69
NOTE 6 FINANCIAL ASSETS - NON-CURRENT INVESTMENTS
(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
I. NON CURRENT INVESTMENTS
A. Investments carried at fair value through OCI
Quoted investments (Refer note (i) below) 157.33 216.68
Unquoted investments (Refer note (i) & (ii) below) 38.46 38.50
Total (Quoted & unquoted investments) 195.79 255.18
B. Investments carried at amortised cost
Quoted Government and trust securities 5.82 8.01
Total [A] + [B] 201.61 263.19
C. Investment accounted for using equity method
Investment in joint venture (Refer Note 47)
Equity Shares of ` 10 each, of Birla Advanced Kints Private Limited 23.16 14.87
2,50,00,000 Shares (31 March 2022, 1,50,00,000 shares)
Total 23.16 14.87
Total [A] + [B] + [C] 224.77 278.06
Note:
(i) Investments at fair value through OCI (fully paid) reflect investment in quoted and unquoted equity securities. These equity
shares are designated as FVTOCI as they are not held for trading purpose and are not in similar line of business as the
Company. Thus disclosing their fair value fluctuation in profit and loss will not reflect the purpose of holding. Refer Note
44 for determination of their fair values

NOTE 6 FINANCIAL ASSETS - NON-CURRENT INVESTMENTS (Continued)

(ii) Investments in unquoted investments includes investment in Industry House Limited (IHL) amounting to ` 26.79 Crore
(31 March 2022 ` 27.38 Crore). The Company is holding 35.28% of equity shares in IHL. As the Company does not have
significant influence over Industry House Limited, the Company has not considered it as an associate as per Ind AS 28
“Investments in Associates and Joint Ventures” and hence not consolidated. The Company’s share of profit from Industry
House Limited is not significant.
(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
II. CURRENT INVESTMENTS
Investments carried at fair value through profit and loss
Investment in mutual funds
8,315 units (31 March 2022: 3,78,770 units) of SBI Overnight Fund Direct Growth 3.00 131.00
Total 3.00 131.00
NOTE 7 OTHER FINANCIAL ASSETS

(At amortised cost)
(` in Crores)
Non-Current Current
(i) Financial assets at amortised cost
(Unsecured, considered good, unless
otherwise specified)
a) Interest receivable - - 10.45 5.42
b) Security deposits 6.53 7.27 1.55 0.67
c) Unbilled lease rentals 1.87 2.23 1.50 1.04
d) Others - 0.17 2.59 5.57
- Doubtful - - 0.14 0.14
Less: Allowance for credit loss - - (0.14) (0.14)
8.40 9.67 16.09 12.70
e) Finance lease receivables (Refer
1.48 - - 0.48
Note 45)
Less: Allowance for credit loss - - - -
1.48 - - 0.48
f) Bank Deposits with more than 12
10.09 48.49 - -
months maturity
Total 19.97 58.16 16.09 13.18

NOTE 8 OTHER ASSETS

(Unsecured, considered good, unless otherwise specified)
(` in Crores)
Non-Current Current
(a) Capital advances
(i) For property, plant and equipment 7.70 2.88 - -
7.70 2.88 - -
(b) Advances other than capital advances
(i) Export incentives receivable 0.05 3.64 3.95 6.14
(ii) Balances with Government
authorities (other than income
taxes) 7.29 6.52 31.63 48.13
(iii) Amount paid against disputed
demands 4.55 3.94 - -
(iv) Advances to vendors / suppliers - - 135.47 64.08
(v) Prepaid expenses 0.83 7.50 32.89 34.53
(vi) Gratuity - plan asset (Refer Note
36) - - 0.83 -
(vii) Contract assets (brokerage on
sale of real estates inventories) - - 135.02 72.89
(viii) Others 1.16 1.17 3.93 5.97
13.88 22.77 343.72 231.74
Total 21.58 25.65 343.72 231.74
NOTE 9 INVENTORIES
(At cost or net realisable value, whichever is lower)
(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
(a) Raw materials 252.91 160.36
(b) Work-in-progress 241.62 235.40
(c) Finished and semi-finished goods 128.79 94.67
Goods in transit 17.73 -
(d) Stock-in-trade of goods acquired for trading 1.41 0.73
(e) Fuels, stores and spares 72.65 84.07
(f) Other materials 2.66 3.12
(g) Real estate inventory 2486.87 1739.71
Total 3256.10 2330.86
Note :
(a) Cost of inventories recognised as an expense includes ` 3.13 Crores (31 March 2022 ` 3.07 Crores) in respect of write-
downs of inventory to net realisable value.
(b) For charge created on inventories refer note 14 and 18
(c) Real estate inventory includes borrowing costs of ` 47.43 crores (31 March 2022 ` 60.78 crores)

NOTE 10 TRADE RECEIVABLES

(At amortised cost)
(` in Crores)
Current
31 March 2023 31 March 2022
Secured, considered good 10.32 32.04
Unsecured, considered good 146.12 184.76
Unsecured, considered doubtful 0.59 0.81
Receivables - credit impaired 23.59 12.50
Total 156.44 216.80
Of the above, trade receivables from:
- Related Parties (Refer Note 40) 1.51 -
- Others 154.93 216.80
Total 156.44 216.80
Notes :
(i) No trade receivable are due from directors or other officers of the Company either severally or jointly with any other
person. Nor any trade receivable are due from firms or private companies respectively in which any director is a partner
or a director or a member. Trade receivables are non interest bearing and are generally on terms of 7 to 120 days of credit
period.
(ii) Trade receivables ageing schedule
Outstanding for following periods from invoice date Total
Particulars Less than 6 months 1-2 years 2-3 years More than
6 months – 1 year 3 years
As at 31 March 2023
good 132.25 20.85 3.08 0.02 0.15 156.35
impaired - - 14.53 0.18 2.66 17.37
good - - - - 0.09 0.09
doubtful 0.59 - - - - 0.59
Disputed trade receivables – credit impaired - - - 0.14 6.08 6.22
132.84 20.85 17.61 0.34 8.98 180.62
As at 31 March 2022
good 202.47 10.68 0.44 0.03 0.24 213.86
impaired - - - - - -
good - - - 1.88 1.06 2.94
doubtful 0.81 - - - - 0.81
Disputed trade receivables – credit impaired - - 0.14 1.86 10.50 12.50
Total 203.28 10.68 0.58 3.77 11.80 230.11

NOTE 11 CASH AND BANK BALANCES

(At amortised cost)
(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
Cash and cash equivalents
(a) Balances with banks
- Current Accounts 20.45 19.71
- Debit balance in cash credit / overdraft accounts 15.54 5.36
(b) Cheques and drafts on hand 2.39 1.73
(c) Cash on hand 0.05 0.11
(d) Fixed deposits with original maturity less than 3 months (including interest
accrued) 10.08 7.91
Total 48.51 34.82
Other Bank Balances
(a) Earmarked balances with banks
- Unclaimed dividend accounts 1.67 1.83
(b) Balances with banks:
- Fixed deposits with maturity more than 3 months (including interest accrued) 48.73 18.93
- On margin accounts 52.22 10.23
Total 102.62 30.99
Note: Short term fixed deposits are varying between three months and twelve months, depending on the immediate cash
requirements and earn interest at the respective short term deposit rate. Interest rate is between 4.40% to 8.00%
NOTE 12 EQUITY SHARE CAPITAL
(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
(a) Authorised :
14,80,00,000 (31 March 2022 - 14,80,00,000) Equity Shares of ` 10 each. 148.00 148.00
1,00,00,000 (31 March 2022 - 1,00,00,000) Redeemable Cumulative
Non-convertible Preference Shares of ` 100 each. 100.00 100.00
248.00 248.00
(b) Issued :
11,17,11,090 (31 March 2022 - 11,17,11,090) Equity Shares of ` 10 each . 111.71 111.71
111.71 111.71
(c) Subscribed and paid up:
11,16,95,680 (31 March 2022 - 11,16,95,680) Equity Shares of ` 10 each, fully
paid up (The Company has only one class of equity share. Each shareholder is
eligible for one vote per share. The dividend proposed by the Board is subject to
the approval of shareholders except in case of interim dividend. In the event of
liquidation, the equity shareholders are eligible to receive the remaining assets
of the Company after distribution of all preferential amounts in proportion to
their shareholding.) 111.69 111.69
Total 111.69 111.69

NOTE 12 EQUITY SHARE CAPITAL (Continued)

(d) Reconciliation of the number of shares outstanding at the beginning and at the end of the year.
Opening Balance Fresh Issue Closing Balance
No. of shares 11,16,95,680 - 11,16,95,680
Amount (` in Crores) 111.69 - 111.69
No. of shares 11,16,95,680 - 11,16,95,680
Amount (` in Crores) 111.69 - 111.69
(e) Shareholders holding more than 5% shares of the Company:

(` in Crores)
Class of shares / Name of shareholders Number of Percentage Number of Percentage
shares held shares held
(a) Pilani Investment and Industries Corporation Limited 3,69,78,570 33.11 % 3,69,78,570 33.11 %
(b) IGH Holding Private Limited 1,11,50,000 9.98 % 1,11,50,000 9.98 %
(c) Aditya Marketing And Manufacturing Private Limited
(Merged with Umang Commercial Company Private
Limited) 75,60,900 6.77 % 75,60,900 6.77 %
(f) The Company has not issued any equity shares as bonus or for consideration other than cash and has not bought back
any shares during the period of five years immediately preceding 31 March 2023.
(g) Details of shares held by promoters and promoters group
No. of shares at Change No. of shares at % in total % change
Equity share of ` 10 each fully paid up the beginning during the the end of the shares during the
of the year year year year
As at 31 March 2023
Pilani Investment And Industries 3,69,78,570 - 3,69,78,570 33.11% -
Corporation Limited
Private Limited(Merged with Umang
Total 5,60,77,970 - 5,60,77,970 50.21% -
As at 31 March 2022
Total 5,60,77,970 - 5,60,77,970 50.21% -

NOTE 13 OTHER EQUITY
(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
(a) Securities Premium 643.22 643.22
643.22 643.22
Note :
(i) Securities premium is used to record the excess of the amount received over the face value of the shares. This reserve will
be utilised in accordance with the provisions of the Companies Act, 2013.
(b) Other reserves
(i) Capital Redemption Reserve 100.00 100.00
Note :
Capital redemption reserves was created during the year ended 31 March 2001, on redemption of 10.25% Redeemable
Cumulative Non-convertible Preference Shares privately placed with financial institutions and banks. This reserve will be
utilised in accordance with the provisions of the Companies Act, 2013.
(c) Dividend distribution made and proposed
(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
Cash dividends on equity shares paid during the year
Dividend for the year ended on 31 March 2022: ` 4.00 per share (31 March 2021 44.68 11.17
` 1.00 per share)
44.68 11.17
Proposed dividend on equity shares
Proposed dividend for the year ended on 31 March 2023 ` 5 per share (31 55.85 44.68
March 2022 ` 4.00 per share)
55.85 44.68
Note :
Proposed dividends on equity shares are subject to approval at the annual general meeting and are not recognised as a
liability as at 31 March 2023.
(d) General Reserves
General Reserves is used from time to time to transfer profits from Retained earnings for appropriation purpose. This
(e) Other Comprehensive Income
FVOCI equity investments:

The Company has elected to recognise changes in the fair value of certain investments in equity securities in OCI. These
changes are accumulated within the FVOCI equity investment reserve within equity. The Company transfers amounts
from this reserve to retained earnings when the relevant equity securities are derecognised.

NOTE 14 BORROWINGS
(` in Crores)
Measured at Amortised Cost
(A) Secured Non Convertible Debentures
1. 2,500 (31 March 2022 - 2,500)
debentures (Repayment due on Feb’
2025, Interest rate as at 31 March
2023 - 6.32 % p.a) - 249.78 249.86 -
2. Nil (31 March 2022 - 4,000)
debentures (Repaid in Feb’ 2023 -
7.95 % p.a) - - - 399.77
(B) Unsecured non convertible
debentures
3. 40,000 (31 March 2022 - Nil)
Unsecured Non Convertible
debentures (Repayment due on Jan’
2026 Interest rate as at 31 March
2023 - 7.97 % p.a) 399.09 - - -
(C) Term Loan from Bank - Secured
4 Term loan from Axis Bank
(Repayable in 16 instalments, last
instalment falling due on Sep’ 2023) - 57.10 56.23 173.84
5 Term Loan from HDFC Bank
(Repayable in 18 monthly instalments,
last instalment falling due on May’
2023) - 65.94 133.65 35.70
6 Term Loan from Kotak Mahindra
Bank (Repaid during the year) - 9.00 - -
Amount disclosed under the head

Borrowings - Current “ (Refer Note 18 ) - - (439.74) (609.31)
Total 399.09 381.82 - -
Effective rate of Interest : All the term loans are carried at the Interest rate from 6.32% to 8.95%
Note :-
Loans covered in Sr. No. 1

Repayment of loan covered above is due on Feb-2025, however as per the term & conditions of NCD put option shall be
exercisable by debenture holders at the end of 2 (two) years from the date of Allotment. Hence the said NCD has been classified
as current.

NOTE 14 BORROWINGS (Continued)

Details of Security:

First pari passu charge on present and future plant and machineries of Birla Century, Pulp and Paper divisions and
excluding Furniture and Fixtures and vehicles of the said divisions.

First pari passu charge on the present and future movable fixed assets of the Borrower’s Birla Century unit at Bharuch
Gujarat and Pulp & Paper unit at Lalkuan, Uttarakhand. Negative lien on the present and future immovable fixed assets of
the Borrower’s Birla Century unit at Bharuch Gujarat and Pulp & Paper unit at Lalkuan, Uttarakhand.
There was modification in security details of above term loan where by Freehold land admeasuring 25,323.78 sq. meters
and the Birla Centurion building thereon situated at Worli, Lower Parel Divisions, Mumbai was released during the year.
3. Loan covered in Sr. No. 5 above :

Primary security : First and exclusive charge on land and building and current assets of Birla Vanya project situated at
Shahad, Kalyan.
4. Loans covered in Sr. No. 6 above :

First and exclusive charge through registration of equitable mortgage of the land admeasuring 2,06,551 sqft (excluding
land & FSI for 20,000 sqft of BUA for commercial building to be developed by Birla Estates Pvt Ltd) along with the structure
/ buildings constructed / to be constructed on the said land parcel, including all the existing & future FSI potential loaded /
to be loaded onto the structure constructed / to be constructed there on, along with the development rights for the project,
having a minimum carpet are of 4.12 sq ft, located at Magadi road, Bangalore, land.
5. Loan covenants
Bank loan and NCDs contain certain debt covenants relating to total term loan to tangible net worth, fixed asset coverage
ratio, net debt to equity ratio and interest coverage ratio. The Group is compliant with the said covenants during the year
ended 31 March 2023. The Group has also satisfied all other debt covenants prescribed in the terms of bank loan and NCDs.
The Group has not defaulted in repayment of borrowing and interest thereon.
NOTE 14A LEASE LIABILITIES
(` in Crores)
Non-Current Current
Lease liability (Refer Note 45) 19.34 18.46 2.26 2.30
Total 19.34 18.46 2.26 2.30

NOTE 15 OTHER FINANCIAL LIABILITIES
(` in Crores)
Non-Current Current
Other Financial Liabilities measured at
amortised cost
(a) Deposits from dealers and agents - - 73.69 53.11
(b) Deposits against rental arrangements 117.33 97.70 58.90 66.16
(c) Interest accrued - - 10.81 9.63
(d) Unclaimed / unpaid dividends (Refer
Note below (i)) - - 1.67 1.83
(e) Creditors for capital supplies / services - - 20.82 14.58
(f) Earnest money on booking of
residential inventory - - 0.55 1.69
(g) Other liabilities 0.49 0.49 8.87 2.08
Total 117.82 98.19 175.31 149.08
Note :-
(i) Unclaimed dividend amounting to ` 0.05 crore (31 March 2022 ` 0.05 crore) is pending on account of litigation among
claimants / notices from the tax recovery officer.
(ii) Derivative financial instruments:
The Company entered into foreign exchange forward contracts with the intention of hedging foreign exchange risk of
expected sales and purchases, these contracts are not designated as hedge and are measured at fair value through profit
or loss.
Derivative instruments at fair value through profit or loss reflect the negative change in fair value of those foreign exchange
forward contracts that are not designated in hedge relationships, but are, nevertheless, intended to reduce the level of
foreign currency risk for expected sales and purchases.
(iii) Changes in liabilities arising from financing activities (excluding lease liabilities)
(` in Crores)
Particulars
1 April 2022 31 March 2023
Current borrowings
Line of Credit - 35.00 35.00
Pre-shipment, Post-shipment and Export Bills Discounting - 30.00 30.00
facilities
Commercial Papers 313.27 (313.27) -
Total 1322.09 (276.07) 1046.02

NOTE 15 OTHER FINANCIAL LIABILITIES (Continued)
(` in Crores)
Particulars
1 April 2021 31 March 2022
Current borrowings
facilities 2.19 (2.19) -
Commercial Papers - 313.27 313.27
Total 1030.29 291.80 1322.09
NOTE 16 INCOME TAX
(` in Crores)
Particulars
31 March 2023 31 March 2022
(a) Tax expense recognised in the Statement of Profit and Loss on continuing
operations
Current tax
Adjustment of tax relating to earlier periods - -
92.84 55.01
Minimum Alternate Tax (MAT) Credit entitlement - (54.99)
92.84 0.02
Deferred tax
In respect of earlier years 0.55 (33.59)
48.86 50.42
Total income tax expense on continuing operations 141.70 50.44
Tax expense recognised in the Statement of Profit and Loss on discontinuing
operations
Current tax
In respect of current year - -
Deferred tax
In respect of current year origination and reversal of temporary differences - 3.05
Total income tax expense on discontinuing operations - 3.05
Net tax expense recognised in the Statement Profit and Loss 141.70 53.49
(b) Income tax recognised in other comprehensive income
Deferred tax related to items recognised in other comprehensive income during
the year:
Remeasurement of defined benefit obligations 0.64 0.34
Cash flow hedge - 0.21
0.64 0.55

(` in Crores)
Particulars
31 March 2023 31 March 2022
Classification of income tax recognised in other comprehensive income
Income taxes related to items that will not be reclassified to profit or loss 0.64 0.34
Income taxes related to items that will be reclassified to profit or loss - 0.21
0.64 0.55
(c) Amounts Recognised directly in Equity - Nil (31 March 2022 - Nil)
(d) Reconciliation of income tax expense and the accounting profit multiplied by
Company’s tax rate:
Profit/(loss) before tax from continuing operations 406.25 204.60
Income tax expense calculated at 34.944% (31 March 2022 - 34.944%) 141.96 71.50
Income taxable at different tax rates (21.99) -
Effect of income that is exempt from taxation (0.62) -
Effect of expenses that is non-deductible in determining taxable profit 1.59 2.58
Profit taxable at different tax rates for subsidiaries and measurement of deferred
tax @ 25.17% for deferred tax expected to be reversed in new tax regime 4.47 1.00
Others 15.74 8.95
141.15 84.03
Adjustments recognised in the current year in relation to the deferred tax of
prior years (Refer Note ii) 0.55 (33.59)
Adjustment of tax relating to prior periods - -
Income tax expense recognised In profit or loss from continuing operations 141.70 50.44
Profit / (loss) before tax from discontinuing operations - 10.59
Income tax expense calculated at 34.944% - 3.70
Income taxable at different tax rates - (0.65)
Income tax expense recognised in profit or loss from discontinuing operations - 3.05
Note :
(i) The tax rate used for above deferred tax reconciliation for 31 March 2023 and 31 March 2022 is 34.944% respectively.
(ii) Birla Estates Private Limited (‘BEPL’), a wholly owned subsidiary of the Company, has assessed the recoverability of
unutilized tax losses as at March 31, 2023 and recognized deferred tax asset amounting to ` 48.08 crores (31 March 2022
- ` 34.07 crores).
(e) The movement in deferred tax assets and liabilities during the year ended 31 March 2023 and 31 March 2022 :
(` in Crores)
As at As at
Deferred Tax
31 March 2023 31 March 2022
Deferred tax assets 48.08 56.94
Deferred tax liabilities 40.64 -
Net Deferred Tax liability / (asset) (7.44) (56.94)

(` in Crores)
Movement during the year ended 31
March 2023
income
tax liabilities
Inventory 603.78 (5.16) - 598.62
(ii) Others 40.95 - - 40.95
644.73 (5.16) - 639.57
tax assets
when paid 4.66 0.01 - 4.67
(iii) Tax losses 99.47 (30.75) - 68.72
(v) Other temporary differences 23.25 10.47 - 33.72
285.12 (34.70) (0.64) 249.78
MAT credit (416.54) 19.32 - (397.22)
Net Deferred Tax liability / (asset) (56.94) 48.86 0.64 (7.44)
(` in Crores)
Movement during the year ended 31
March 2022
income
tax liabilities
Inventory 612.67 (8.89) - 603.78
(ii) Others 40.95 - - 40.95
653.62 (8.89) - 644.73
tax assets
when paid 4.54 0.12 - 4.66
(iii) Tax losses 145.57 (46.10) - 99.47
(v) Other temporary differences 26.82 (3.57) - 23.25
(vii) Cash flow hedge 0.21 - (0.21) -
347.56 (62.36) (0.55) 285.12
MAT credit (361.55) (54.99) - (416.54)
Net Deferred Tax liability / (asset) (55.49) (1.52) 0.55 (56.94)

NOTE 17 OTHER LIABILITIES
(` in Crores)
Non-Current Current
(a) Advances received from customers - - 1484.49 607.28
(b) Deferred revenue - Government grant

(Refer Note below) 11.63 27.63 - -
(c) Deferred revenue (Refer Note 33) 442.87 492.58 52.78 52.22
(d) Statutory dues
- Taxes payable (other than income

taxes) - - 55.04 54.84
- Employee recoveries and employer

contributions - - 2.10 2.36
(e) Other liabilities - - 0.25 0.16
Total 454.50 520.21 1594.66 716.86
Note : Government grant
(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
Opening 27.63 29.09
Received during the year - 0.40
Released to the statement of profit and loss 16.00 1.86
Closing 11.63 27.63

Under the Export Promotion Capital Goods (EPCG) Scheme, the Company received Government grant for the purchase of
certain items of property, plant and equipments. As per the EPCG scheme the Company has an obligation to export up to 6
times of grant amount. As and when the Company fulfils the export obligation, proportionate grant is released to the Statement
of profit and loss (Refer Note 39).

NOTE 18 BORROWINGS - CURRENT
(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
Secured borrowings measured at amortised cost.
(a) Loans repayable on demand from banks
Cash credit from banks / Overdraft facility form Banks 133.88 11.16
Pre-shipment, post-shipment and export bills discounting facilities 30.00 -
Line of Credit 35.00 -
Unsecured borrowings measured at amortised cost.
(b) Current maturity of long-term loans:
Current maturity of long-term loans 439.74 609.31
(c) Commercial papers
(Maximum balance outstanding during the year ` 500 Crores)
(31 March 2022 ` 375 Crores) - 313.27
Total 638.62 933.74
Note:
Nature of security
(i) Cash credit / Overdraft facility form Banks of ` 19.82 Crores (31 March 2022 ` 0.50 crores) are secured against a first
and pari passu charge over the current assets (including documents of title to goods/related receivables) and collateral
security on a pari-passu basis over the present and future property plant and equipments (plant and machinery) of Birla
Century (Gujarat), Century Pulp and paper.
(ii) Cash credit / Overdraft facility form Banks of ` 0.19 crores (31 March 2022 ` 10.66 crores) from banks are secured against
first pari passu charge on current assets of the Birla Estates Private Limited, both present and future, exclusive mortgage
of land and building situated at Sahad, opposite chemical land, Kalyan and first & exclusive charge on current assets of
the company’s Birla Vanya project at Kalyan.
(iii) Cash credit / Overdraft facility of ` 113.87 crores (31 March 2022 ` Nil) & Line of credit from banks are secured against
a first and pari passu charge with other facility by way of registered mortgage on the property, project, future scheduled
receivable of the project and all insurance proceed, both present and future, on security of all rights, title, interest, claims,
benefits, demands under the project documents of both present and future, on the escrow and DSR account of the project
including all monies credited / deposited therein and all investment in respect thereof.
All such sold units of secured project, booking of which are subsequently cancelled by customer shall continue to stand
mortgaged to the lender.
NOTE 19 TRADE PAYABLES
(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
Trade payable - Micro and small enterprises (Refer Note 34) 19.11 11.88
Trade payable - Other than micro and small enterprises 766.40 846.08
Total 785.51 857.96
Note :
(a) The above information has been provided as available with the Company to the extent such parties could be identified on
the basis of the information available with the Company regarding the status of suppliers under the MSMED Act.

NOTE 19 TRADE PAYABLES (Continued)

(b) Trade payables are non interest bearing and are normally settled on 60-90 days terms. Acceptances are interest bearing
and have an average term of six months. There are no other amounts paid / payable towards interest / principal under the
MSMED.
(c) Trade payables ageing schedule
Outstanding for following periods from invoice date

Particulars Less than 1-2 years 2-3 years More than Total
1 year 3 years
As at 31 March 2023
enterprises and small enterprises - - - - -
Total 721.54 44.32 7.38 12.27 785.51
As at 31 March 2022
enterprises and small enterprises - - 0.01 0.43 0.44
Total 824.07 13.53 10.94 9.42 857.96
NOTE 20 PROVISIONS
(` in Crores)
Non-Current Current
(a) Provision for employee benefits
(i) Leave entitlement 2.41 1.50 23.59 24.76
(ii) Gratuity (Refer Note 36) 0.07 - 3.65 2.37
2.48 1.50 27.24 27.13
(b) Other Provisions
(i) Disputed matters (Refer Note 37) - - 155.22 154.74
- - 155.22 154.74
Total 2.48 1.50 182.46 181.87

NOTE 21 REVENUE FROM OPERATIONS
(` in Crores)
Particulars
31 March 2023 31 March 2022
(a) Sale of products 4531.87 3879.83
(b) Rent from leased properties:
Rent from Investment properties (Refer
Note 4) 124.73 126.45
Rent from other assets (Refer Note 33) 49.98 49.98
174.71
(c) Service income 12.74 13.82
4719.32 4068.36
(d) Other operating revenues :
Export benefits 16.60 14.70
Sale of scrap 12.66 8.78
Insurance and other claims 0.05 0.40
Liabilities no longer required 8.21 12.41
Government grants 16.00 8.60
Renewable energy credits - 1.09
Others 26.81 16.61
80.33 62.59
Total 4799.65 4130.95
NOTE 21A DISAGGREGATED REVENUE INFORMATION:
(` in Crores)
Particulars
31 March 2023 31 March 2022
Segment
Textile products 950.76 1037.25
Paper and Pulp products 3571.71 2817.79
Real Estates 12.74 13.82
Others (Salt and Chemicals) 9.40 24.79
India 4103.66 3235.75
Timing of revenue recognition
Goods transferred at a point in time 4531.87 3879.83
Services transferred over time 12.74 13.82

NOTE 21B

Reconciliation with segment revenue Textile Pulp and Real Estates Others Total
Paper
Revenue as per Segment 1000.74 3571.71 137.47 9.40 4719.32
Less:
Rent from Other assets (49.98) - - - (49.98)
Total Revenue from contracts with customers 950.76 3571.71 12.74 9.40 4544.61

Reconciliation with segment revenue Textile Pulp and Real Estates Others Total
Paper
Revenue as per Segment 1087.23 2817.79 138.55 24.79 4068.36
Less:
Rent from Other assets (49.98) - - - (49.98)
Total Revenue from contracts with customers 1037.25 2817.79 13.82 24.79 3893.65
NOTE 21C CONTRACT BALANCES
(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
Trade Receivables 156.44 216.80
Contract Liabilities (advance received from customers) 1448.05 591.05
Contract assets (brokerage on sale of real estates inventories) 135.02 72.89
Significant changes in the contract assets and the contract liabilities during the year are as follows
(` in Crores)
Particulars
31 March 2023 31 March 2022
Contract assets
Opening balance 72.89 24.88
Brokerage paid during the year and not recognized as expenses 62.13 48.01
Contract liabilities
Opening balance 591.05 238.97
Advance received during the year and not recognized as revenue 857.00 352.08

NOTE 21D RECONCILING THE AMOUNT OF REVENUE RECOGNISED IN THE STATEMENT OF PROFIT AND LOSS WITH THE
CONTRACTED PRICES
Revenue as per contract price 4691.25 4020.42

Adjustments
Discount 146.64 126.77
Revenue from contract with customers 4544.61 3893.65
NOTE 21E REMAINING PERFORMANCE OBLIGATION

In case of residential units, the Company satisfies the performance obligation and recognises revenue at a point in time i.e.,
upon handover of the residential units. Since the said performance obligation is not satisfied as at March 31, 2023, no revenue
has been recognised by the Company on sale of residential units. The Company expects to recognise revenue on sale of
residential units in the following time band:
(` in Crores)
Particulars
31 March 2023 31 March 2022
Time band
More than 3 years 2359.56 1378.69
Less than 3 years 2821.13 1617.95
NOTE 22 OTHER INCOME
(` in Crores)
Particulars
31 March 2023 31 March 2022
Dividend on FVTPL Investments 2.93 1.56
Dividend on FVTOCI Investments 1.76 1.70
4.69 3.26
Interest Income :
Non current investments at amortised cost 0.57 0.66
On Income tax refund 0.33 0.02
Other interest income 4.77 5.99
5.67 6.67
Gain on foreign currency fluctuations and translations (net) 0.48 7.09
Provision for interest written back# - 11.37
Surplus on sale of property plant and equipments (net) 0.14 1.61
Management consultancy fees 5.13 4.56
Miscellaneous Income 11.41 8.50
Total 27.52 43.06
#
Provision towards interest on expected unfulfillment of export obligation has been written back.

NOTE 23 COST OF MATERIALS CONSUMED
(` in Crores)

Particulars
31 March 2023 31 March 2022
Raw material consumed
2537.68 1977.33
2284.77 1816.97
Dyes, colour and chemicals consumed
348.26 367.87
339.16 350.44
Packing materials consumed
111.66 117.69
107.44 108.90
Total 2731.37 2276.31
NOTE 24 PURCHASE OF TRADED GOODS
(` in Crores)

Particulars
31 March 2023 31 March 2022
Purchase of traded goods 44.80 223.58

NOTE 25 CHANGES IN INVENTORIES OF FINISHED GOODS, WORK-IN-PROGRESS AND STOCK-IN-TRADE
(` in Crores)
Particulars
31 March 2023 31 March 2022
Opening stock :-
330.80 262.56
Closing stock :-
389.55 330.80
(58.75) (68.24)
Less: Sale of raw materials - (10.14)
Total (58.75) (58.10)
NOTE 26 EMPLOYEE BENEFITS EXPENSES
(` in Crores)
Particulars
31 March 2023 31 March 2022
Salaries, wages, bonus, etc. 309.75 289.84
Contributions to provident and other funds (Refer Note 36) 16.90 16.03
Gratuity expenses (Refer Note 36) 4.89 4.50
Staff welfare expenses 13.29 13.27
Total 344.83 323.64
NOTE 27 FINANCE COST
(` in Crores)
Particulars
31 March 2023 31 March 2022
Interest on debts and borrowings 89.74 101.92
Interest on lease liabilities (Refer Note 45) 1.88 1.88
Unwinding of discount and effect of change in discount rate on provisions 9.70 9.16
101.32 112.96
Less: Borrowing costs inventorized (Refer Note below) (47.43) (60.78)
Total 53.89 52.18
Note :
The capitalisation rate used to determine the amount of borrowing cost to be capitalised and inventorized is the weighted
average interest rate applicable to the entity’s general borrowings during the year i.e. 8.00% (31 March 2022 8.00%)

NOTE 28 DEPRECIATION AND AMORTIZATION EXPENSES
(` in Crores)

Particulars
31 March 2023 31 March 2022
Depreciation of property plant and equipments (Refer Note 3) 192.19 195.10
Depreciation on Investment properties (Refer Note 4) 32.49 33.54
Amortization of Intangible assets (Refer Note 5) 2.40 2.02
Total 227.08 230.66
NOTE 29 OTHER EXPENSES
(` in Crores)

Particulars
31 March 2023 31 March 2022
Consumption of stores and spares 91.31 91.44
Job work charges 21.46 19.28
Power, fuel and water 680.61 485.50
Buildings repairs 32.12 25.15
Machinery repairs 29.72 20.47
Rent 4.00 2.27
Rates and taxes 15.93 15.52
Insurance 23.40 21.08
Freight, forwarding, octroi, etc. 99.17 47.91
Advertisement and publicity 32.60 28.36
Commission 9.77 12.62
Brokerage, discounts, incentives etc. 3.92 3.86
Commission to Non Executive Directors 2.00 2.00
Director’s fees and travelling expenses 0.20 0.10
Donations - 2.00
Provision for doubtful debts and advances 17.64 1.67
Miscellaneous expenses 146.22 141.78
Total 1210.07 921.01

30 HEDGING ACTIVITIES AND DERIVATIVES
Derivatives not designated as hedging instruments

The Group uses foreign currency denominated borrowings and foreign exchange forward contracts to manage some of its
transaction exposures. The foreign exchange forward contracts are not designated as cash flow hedges and are entered into
for periods consistent with foreign currency exposure of the underlying transactions, generally from 1 to 12 months.
Derivatives designated as hedging instruments
Cash flow hedges
Foreign currency risk:

Foreign exchange forward contracts are designated as hedging instruments in cash flow hedges against forecast sales /
purchases in US dollars. This forecast transactions are highly probable since purchase order already issued / projection of
counter party available with the Company and hence expected to be utilised in near term. The foreign exchange contract
balances vary with the level of expected foreign currency sales / purchases and changes in foreign exchange forward rate. The
long term swap by way of foreign currency sales has been done on the basis of historical business with buyers and comprises
50% of projected sales.
31 EARNINGS PER SHARE (EPS):
(` in Crores)

Particulars
31 March 2023 31 March 2022
a) For Continuing Operations
Add: Loss attributable to Non-Controlling Interest 7.33 4.83
Basic & diluted earnings per equity share of ` 10 each (31 March 2022 ` 10 24.34 14.23
each) (in Rupees)
b) For Discontinued operations
Profit attributable to equity shareholders for basic & diluted EPS - 7.54
Basic & diluted earnings per equity share of ` 10 each (31 March 2022 ` 10 - 0.68
each) (in Rupees)
c) For Continuing & Discontinued operations
Basic & diluted earnings per equity share of ` 10 each (31 March 2022 ` 10 24.34 14.91
each) (in Rupees)
32 Revenue expenditure on research and development activities relating to Government recognised in-house research
and development laboratories incurred and charged out during the year through the natural heads of account,
aggregate ` 4.35 crores (31 March 2022: ` 3.83 crores).

33 During the financial year 2017-18, the Group had entered into an agreement with Grasim Industries Limited (‘GIL’)
granting right to manage and operate the group’s Viscose Filament Yarn (‘VFY’) business, which is part of Textile
segment, for a duration of 15 years commencing from February 1, 2018. As a part of consideration, GIL has paid an
upfront Royalty of ` 605.00 crores. In addition GIL has also paid the carrying value of net working capital and the
interest free security deposit of ` 200.00 crores which is repayable after 15 years. With effect from February 1, 2018, GIL
have right to use the VFY business assets including its intangible assets for a period of 15 years from the above date.
The Group is recognizing royalty income over the period of 15 years.
Pursuant to the agreement, GIL shall incur all capital expenditure and commitments involving capital expenditure as may
be necessary for the proper, optimum and profitable operation of the VFY Business. In this regard, Group has agreed that
all improvement / capital expenditure done by GIL during the tenure of agreement will be transferred to the Group, at such
fair value as may be agreed between the Group and GIL.
34 TRADE PAYABLES
(i) ` 19.11 Crore (31 March 2022 ` 11.88 Crore) due to micro and small enterprises registered under the Micro, Small and
Medium Enterprises Development Act, 2006 (MSMED Act) There are no other amounts paid / payable towards interest /
principal under the MSMED; and
(ii) The above information has been determined to the extent such parties have been identified on the basis of the information
available with the Group regarding the status of suppliers under the MSMED Act
35 DISCONTINUED OPERATIONS
Yarn and Denim division (sold during the previous year)

During the previous year ended 31 March 2022, the Group has sold all the assets of its Yarn and Denim division (‘Y&D’) to a third
party for a consideration of ` 62.00 crore and has recognised a gain of ` 17.63 crore net of provision for termination benefits
and other restructuring costs.
i) Gain on Sale of Yarn & Denim division
(` in Crores)
Sale consideration 62.00
Less:
Sale related expenses 12.78
Net asset / (liabilities) of demerged undertaking 2.45
Additional liabilities recognised pertaining to demerged undertaking 34.04
Gain on sale of Yarn & Denim Division 17.63
ii) The Results of Yarn & Denim Division upto July 14, 2021
(` in Crores)
Revenue including other income -
Expenses (7.04)
Loss before income tax (7.04)
Income tax expense / (credit) (2.46)
Loss after income tax (4.58)

35A EXCEPTIONAL ITEMS

During the year ended 31 March 2023, the holding Company has transferred its leasehold land in Gujarat to Grasim Industries
Limited for a consideration of ` 215.85 Crores resulting in a net gain of ` 134.21 Crores as an exceptional item after adjusting
non-usage charges amounting to ` 21.64 Crores and transfer fees amounting to ` 37.52 Crores paid to Gujarat Industrial
Development Corporation. Further, tax on such gain amounting to ` 25.64 Crores is included in the current tax for the year.
36 DISCLOSURES PURSUANT TO - “EMPLOYEE BENEFITS”
(a) Defined Contribution Plans:

The Group’s contribution to Provident Fund and Superannuation Fund aggregating ` 8.61 Crores (31 March 2022: ` 7.02
Crores) has been recognised in the Statement of Profit and Loss under the head Employee Benefits Expense.
(b) Defined Benefit Plans:
(i) Gratuity
The Group has a defined benefit gratuity plan (funded).The Group’s defined benefit gratuity plan is a final salary
plan for employees, which requires contributions to be made to a separately administered fund. The gratuity plan is
governed by the Payment of Gratuity Act, 1972. Under the act, employee who has completed five years of service is
entitled to specific benefit. The level of benefits provided depends on the member’s length of service and salary at
retirement age. The fund has the form of a trust and it is governed by the Board of Trustees, which consists of an
equal number of employer and employee representatives. The Board of Trustees is responsible for the administration
of the plan assets and for the definition of the investment strategy.
Each year, the Board of Trustees reviews the level of funding in the gratuity plan. Such a review includes the asset-
liability matching strategy and investment risk management policy. This includes employing the use of annuities
and longevity swaps to manage the risks. The Board of Trustees decides its contribution based on the results of this
annual review. Generally, it aims to have a portfolio mix of equity instruments, property and debt instruments. The
Board of Trustees aim to keep annual contributions relatively stable at a level such that no plan deficits (based on
valuation performed) will arise.
The significant actuarial assumptions used for the purposes of the actuarial valuations were as follows:
(` in Crores)
Valuation as at
Particulars
31 March 2023 31 March 2022
Employee Attrition rate 2% to 3% 2% to 5%
Discount rate 7.40% 6.80%
Expected rate(s) of salary increase 3% to 6% 3% to 6%
Defined benefit plans – as per actuarial valuation on 31 March 2023

(` in Crores)
Funded Plan
31 March 2023 31 March 2022
I. 1 Expense recognised in the Statement of Profit and Loss
Service Cost:
Current Service Cost 4.81 4.60
Net interest expense 0.08 (0.10)
Components of defined benefit costs recognised in Statement
of Profit and Loss 4.89 4.50

(` in Crores)
Funded Plan
31 March 2023 31 March 2022
2 Included in Other Comprehensive Income
Remeasurement gain 0.22 0.02
Return on plan assets 0.60 0.95
Remeasurement gain on defined benefit plans 0.82 0.97
II. Net Asset/(Liability) recognised in the Balance Sheet
1. Present value of defined benefit obligation 55.93 56.02
2. Fair value of plan assets 53.03 53.65
Net Asset/(Liability) (2.89) (2.37)
Reflected in balance sheet as under
Other Current Assets - Gratuity - plan asset 0.83 -
Current Provisions - Gratuity (3.65) (2.37)
Non-Current Provisions - Gratuity (0.07) -
(2.89) (2.37)
III. Change in the obligation during the year
1. Present value of defined benefit obligation at the beginning of
the year 56.02 54.52
2. Liability to be Transferred in - -
3. Expenses Recognised in Profit and Loss Account:
- Current Service Cost 4.89 4.50
- Interest Expense 3.53 3.46
Remeasurement gains / (losses):
i. Financial Assumptions (1.77) (0.64)
ii. Experience Adjustments 1.55 0.62
6. Transfer in / (out) - 5.68
Present value of defined benefit obligation at the end of the year 55.93 56.02
IV. Change in fair value of assets during the year
1. Fair value of plan assets at the beginning of the year 53.65 55.25
2. Expenses Recognised in Profit and Loss Account
- Expected return on plan assets 3.47 3.46
Remeasurement gains / (losses)
- Actual Return on plan assets in excess of the expected return 0.60 0.95
4. Contributions by employer (including benefit payments
recoverable) 3.39 6.83
Fair value of plan assets at the end of the year 53.03 53.65
Expected Contribution during next Annual reporting period ` 3.28 crores (31 March 2022 ` 3.82 Crores)


The sensitivity of the defined benefit obligation to changes in the weighted principal assumptions is:
(` In Crores)
Impact on defined benefit
Changes in obligation
Principal assumption
assumption Increase in Decrease in
assumption assumption
Discount rate 31-Mar-23 1% (2.68) 3.03
31-Mar-22 1% (3.01) 3.40
Salary growth rate 31-Mar-23 1% 3.01 (2.70)
31-Mar-22 1% 3.34 (3.03)
Withdrawal rate 31-Mar-23 1% 0.43 (0.49)
31-Mar-22 1% (1.55) 1.01
Maturity profile of defined benefit obligation for the next 10 years (Undiscounted amount) :
(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
Within 1 year 8.36 7.42
1 - 2 year 5.85 7.32
2 - 3 year 6.84 5.54
3 - 4 year 5.70 6.32
4 - 5 year 5.96 5.73
Above 5 years 21.73 22.76
54.44 55.09
The fair value of Group’s plan asset by category are as follows:
(` in Crores)
As at As at
Asset category
31 March 2023 31 March 2022
Debt instruments (quoted) 51.32 53.29
Equity instruments (quoted) 0.22 0.24
Deposits with Insurance companies 1.39 0.02
Total 53.03 53.65
The weighted average duration of the defined benefit obligation as at 31 March 2023 is 8.30 years (31 March 2022
11.48 years)


(ii) Provident Fund
In case of certain employees, the Provident fund contribution is made to trusts administered by the Group. In terms
of guidance note issued by the Institute of Actuaries of India, the Actuary has provided a valuation of Provident fund
liability based on the assumptions listed and determined that there is no shortfall as at 31 March 2023.
The assumptions used in determining the present value of obligation of the interest rate guarantee under deterministic
approach are:
(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
Guaranteed interest rate 8.15% 8.10%
Discount rate for the remaining term to maturity of interest portfolio 8.50% 8.79%
Contribution during the year 7.12 7.99
37 PROVISION FOR DISPUTED MATTERS

Provision for disputed matters in respect of known contractual risks, litigation cases and pending assessments in respect of
taxes, duties and other levies / claims, the actual outflow of which will depend on the outcome of the respective proceedings.
The movements in the above account are summarized below:-
(` in Crores)
As at Amounts Amounts As at
S 31 March 2022 provided for utilised / 31 March 2023
Nature of liability
during the year
1 Water Charges 95.32 1.80 1.79 95.33
2 Octroi Duty 38.54 - - 38.54
3 Others 20.88 0.55 0.08 21.35
Total 154.74 2.35 1.87 155.22
(` in Crores)
1 April 2021 Amounts Amounts As at
S provided for utilised / 31 March 2022
Nature of liability
during the year
1 Water Charges 105.90 3.15 13.73 95.32
2 Octroi Duty 38.54 - - 38.54
3 Towards Employee Benefit 25.49 - 25.49 -
4 Others 20.34 0.54 - 20.88
Total 190.27 3.69 39.22 154.74

38 CONTINGENT LIABILITIES
(i) Contingent liabilities (to the extent not provided for)

(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
Contingent liabilities - Continuing Operations
(a) (i) Claims against the Group not acknowledged as debts in respect of :
- Custom Duty and Excise Duty 11.22 11.01
- Sales Tax and Entry Tax 11.00 10.27
- Others 6.29 6.05
(ii) Claims not acknowledged as debts jointly with other members of
“Business Consortium of Companies” in which the Group had an
interest (proportionate) 26.51 24.86
(b) Disputed income tax matters under appeal 133.34 115.44
(c) The Code on Social Security, 2020 (‘Code’) relating to employee benefits
during employment and post-employment benefits received Presidential
assent in September 2020. The Code has been published in the Gazette of
India. However, the date on which the Code will come into effect has not
Amount not Amount not
been notified and the final rules/interpretation have not yet been issued.
determinable determinable
The Company will assess the impact of the Code when it comes into
effect and will record any related impact in the period the Code becomes
effective. Based on a preliminary assessment, the entity believes the
impact of the change will not be significant.
The amounts shown above represents the best possible estimates arrived at on the basis of available information. The
uncertainties are dependent on the outcome of the different legal processes. The timing of future cash flows will be
determinable only on receipt of judgments / decisions pending with various forums/authorities. The Group does not
expect any reimbursements against the above.
39 COMMITMENTS
(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
Capital commitments
Estimated amount of contracts remaining to be executed on capital account and not
provided for (Net of Advances) 50.56 102.20
Other Commitments
The Group has imported capital goods under the Export promotion capital goods
scheme, of the Government of India, at concessional rates of duty on an undertaking
to fulfill quantified exports in the future years 74.70 165.78

40 RELATED PARTY DISCLOSURE
1 Relationships :
(a) Where significant influence exists :

M/s Pilani Investment and Industries Corporation Limited (As a Shareholder of the Company directly & indirectly)
(b) Where Joint control exists :

Birla Advanced Knits Private Limited (Joint Venture)
(c) Key Management Personnel (KMP) :
Managing Director :
Shri J. C. Laddha (upto 11.08.2022)
Shri R. K. Dalmia (w.e.f.12.08.2022)
Whole-time Director :
Shri R. K. Dalmia (upto 11.08.2022)
Non Executive Directors

Smt. Rajashree Birla
Shri Rajan A Dalal
Shri Yazdi P Dandiwala
Shri Sohanlal Kundanmal Jain
Smt. Preeti Vyas
Shri J. C. Laddha (From 12.08.2022 to 28.09.2022)
(d) Other Related Parties (Company Managed Funds)
(i) Pension & Provident Fund of Century Textiles & Industries Limited
- Pension And Provident Fund Of Century Textiles And Industries Limited
(ii) Gratuity Fund of Century Textiles & Industries Limited

- Century Textiles And Industries Limited Employees Gratuity Fund
(iii) Superannuation Fund of Century Textiles & Industries Limited

- Century Textiles And Industries Limited (Textiles Division) Superannuation Scheme
(iv) CTIL Employee Welfare Trust
(e) Other Related Parties

Industry House Ltd.


The following table provides the total amount of transactions that have been entered into with related parties for the
relevant financial period are disclosed below:
(` in Crores)
Transactions With Related For the Associates Where Joint KMP & Company Other
Parties year ended (a) control Directors of Managed Related
exists (b) the Company Funds (d) Parties
(c) (e)
Nature of transactions with

Related Parties
Pension & Provident fund of 31-Mar-23 - - - 7.12 -

31-Mar-22 - - - 7.99 -
Ltd.
Century Textiles & Industries 31-Mar-23 - - - 3.40 -

Ltd. Employee Gratuity Fund
31-Mar-22 - - - 6.82 -
Century Textiles & Industries 31-Mar-23 - - - 0.37 -

Ltd. (Textiles Division)
31-Mar-22 - - - 0.42 -
Superannuation Scheme
Remuneration to Whole time 31-Mar-23 - - 6.98 - -

Director & Managing Director
31-Mar-22 - - 7.34 - -
Sitting fees to independent and 31-Mar-23 - - 0.20 - -

non executive directors
31-Mar-22 - - 0.10 - -
Commission to non whole time 31-Mar-23 - - 2.00 - -

directors
31-Mar-22 - - 2.00 - -
Sale of Goods 31-Mar-23 - 1.02 - - -
31-Mar-22 - - - - -
Other Transactions (Income) 31-Mar-23 - 1.69 - - -
31-Mar-22 - 0.77 - - -
Purchase of Goods 31-Mar-23 - 0.36 - - -
31-Mar-22 - - - - -
Other Transactions (Expenses) 31-Mar-23 14.79 0.23 - - 2.37
31-Mar-22 3.70 - - - 0.47
Investment 31-Mar-23 - 10.00 - - -
31-Mar-22 - 15.00 - - -
Reimbursement of Expenses 31-Mar-23 - - - - -

(income)
31-Mar-22 - 0.12 - - -

(` in Crores)
Balances Receivable / Balance Associates Where Joint KMP & Company Other
(Payable) with Related Parties as at (a) control Directors of Managed Related
exists (b) the Company Funds (d) Parties
(c) (e)
Pension & Provident fund of 31-Mar-23 - - - (0.57) -

31-Mar-22 - - - (0.66) -
Ltd. - Payable
Commission to non whole time 31-Mar-23 - - (2.00) - -

directors - Payable
31-Mar-22 - - (2.00) - -
Sale of Goods - Receivable 31-Mar-23 - 1.08 - - -
31-Mar-22 - - - - -
Other Transactions (Income) - 31-Mar-23 - 1.51 - - -

Receivable
31-Mar-22 - - - - -
Purchase of Goods - Payable 31-Mar-23 - (0.37) - - -
31-Mar-22 - - - - -
Other Transactions (Expenses) 31-Mar-23 - (0.23) - - (2.14)

- Payable
31-Mar-22 - - - - (0.02)
Investment - Receivable 31-Mar-23 - 25.00 - - 26.79
31-Mar-22 - 15.00 - - 27.38
Deposit 31-Mar-23 - (15.00) - - -
31-Mar-22 - - - - -
* Key Managerial Personnel are entitled to post-employment benefits and other long term employee benefits
recognised as per Ind AS 19 - ‘Employee Benefits’ in the financial statements. As these employee benefits are lump
sum amounts provided on the basis of actuarial valuation, the same is included above on payment basis.

41 SEGMENT INFORMATION
446
A. Information about Business Segment - Primary
(` in Crore)
S. Textiles Pulp and Paper Real Estate Others Total
Particulars
No. 2022-23 2021-22 2022-23 2021-22 2022-23 2021-22 2022-23 2021-22 2022-23 2021-22
1 Segment Revenue
Sales of products 1000.74 1087.23 3571.71 2817.79 138.07 139.21 9.40 24.79 4719.92 4069.02
Less: Inter Segment Revenue - - - - 0.60 0.66 - - 0.60 0.66
Net Sales from Continuing Operations 1000.74 1087.23 3571.71 2817.79 137.47 138.55 9.40 24.79 4719.32 4068.36
2 Result
Segment Result of Continuing Operations (28.47) 41.41 464.25 296.42 (72.50) (51.04) 1.89 4.77 365.17 291.56
Profit/(Loss) from Discontinued Operations:
Textiles - 10.59
365.17 302.15
3 Other Information
Segment Assets 934.68 999.79 3040.05 2979.22 3,894.42 3034.26 23.61 36.16 7892.76 7049.43
Add: Unallocated common Assets 558.88 689.41
Total Assets 8451.64 7738.84
Segment Liabilities 1053.63 1102.11 525.46 540.03 1,843.29 814.32 12.13 12.81 3434.51 2469.27
Add: Unallocated Common Liabilities 978.18 1392.72
Total Liabilities 4412.69 3861.99
4 Capital Expenditure during the 45.48 17.59 78.00 127.69 11.99 17.93 - - 135.47 163.21
year (excluding advances)
Add: Unallocated Capital Expenditure - -
135.47 163.21
5 Depreciation and amortisation 46.45 45.32 140.98 146.99 38.62 37.84 0.15 0.13 226.20 230.28
Add: Unallocated Depreciation 0.88 0.38
227.08 230.66


Adjustments & Eliminations:
Finance income and costs, and fair value gains and losses on financial assets are not allocated to individual segments as the
underlying instruments are managed on a group basis.
Current taxes, deferred taxes and certain financial assets and liabilities are not allocated to those segments as they are also
managed on a group basis.
Capital expenditure consists of additions of property, plant and equipment, intangible assets and investment properties.
B. Reconciliation of profit
(` in Crores)
Particulars
31 March 2023 31 March 2022
Segment profit [A] 365.17 291.56
Unallocable Income/(Expense)[B]:
Employee Benefit Expense (18.04) (15.09)
Depreciation & Amortisation Expense (0.88) (0.38)
Other Expense (39.40) (35.12)
Other Income 155.14 15.94
Total 96.82 (34.65)
Finance Cost [C] (53.89) (52.18)
Share of Loss of Joint Venture [D] (1.84) (0.13)
Profit before tax from Continuing Operations [A+B+C+D] 406.25 204.60
Add/(Less): Taxes
Income Tax Charge (141.70) (50.44)
Profit from Discontinued Operations - 10.59
Add/(Less): Taxes
Income Tax Charge - (3.05)
Profit after tax from discontinuing Operations - 7.54
Profit for the year 264.55 161.70
C. Reconciliation of Assets & Liabilities

(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
I (A) Segment Operating Assets 7892.76 7049.43
Unallocated Assets
(B) Non-current Assets
Property, Plant and Equipments 38.25 35.73
Financial Assets
Non-Current Investments 224.77 278.06
Other financial assets 10.09 48.49
Deferred Tax Assets 48.08 56.94
Non Current Tax 68.74 48.69
Other Non Current Assets 1.03 1.08
Total Non-Current Assets (B) 390.96 468.99

(` in Crores)
As at As at
Particulars
31 March 2023 31 March 2022
(C) Current Assets
Financial Assets
Cash and Cash Equivalents 48.51 34.82
Bank balances other than above cash & cash equivalents 100.62 30.99
Investments 3.00 131.00
Others 10.12 8.25
Other Current Assets 5.67 15.36
Total Current Assets (C) 167.92 220.42
Total Unallocated Assets (B+C) 558.88 689.41
TOTAL ASSETS (A + B + C) 8451.64 7738.84
II (A) Segment Operating Liabilities 3434.51 2469.27

Unallocated Liabilities
(B) Non-Current Liabilities
Financial Liabilities
Borrowings 399.09 381.82
Lease Liabilities 19.34 18.46
Deferred Tax Liability 40.64 -
Total Non-Current Liabilities (B) 459.07 400.28
(C) Current Liabilities
Financial Liabilities
Current Borrowings 459.66 926.09
Lease Liabilities 2.26 2.30
Cash Credit Facilities - 7.65
461.92 936.04
Trade Payables 37.34 39.48
Other Financial Liabilities 8.81 8.37
Other Current Liabilities 8.79 5.41
Provisions 2.25 3.14
Total Current Liabilities (C) 519.11 992.44
Total Unallocated Liabilities (B+C) 978.18 1,392.72
Total LIABILITIES (A+B+C) 4412.69 3861.99


D. Secondary Segment
(` in Crores)
I Geographic information Year Ended Year Ended
31 March 2023 31 March 2022
Revenue from external customers
India 4278.38 3410.36
Total revenue from continuing operations 4719.32 4068.36
(` in Crores)
II Non-current operating assets: As at As at
31 March 2023 31 March 2022
India 4142.02 4269.42
Outside India - -
Total 4142.02 4269.42
Non-current assets for this purpose consist of property, plant and equipment, investment properties and intangible
assets.
E. Revenue from major products and services

The following is an analysis of the Company revenue from continuing operations from its major products and services:
(` in Crores)
Sale of Products
31 March 2023 31 March 2022
Cotton Fabric & Yarn 950.76 1087.23
Pulp & Paper (including Paper Board / Straw Board) 3571.71 2817.79
Others 9.40 24.79
Rental income including common area maintenance charges 187.45 138.55
Total 4719.32 4068.36
Composition of the business segment

Name of the Segment Types of products / services Comprises of :
a. Textiles Yarn, Fabric, leasing of Viscose filament yarn & Tyre yarn plant (Yarn and Denim included in
Discontinued Operations and sold during the previous year)
b. Pulp and Paper Pulp, writing & printing paper, tissue paper and multilayer packaging board
c. Real Estate Leased Properties and real estate development
d. Others Salt works and Chemicals
F. The Board of Directors monitors the operating results of its business units separately for the purpose of making decisions
about resource allocation and performance assessment.
G. No single customer contributed 10% or more to the Company’s revenue for the year ended 31 March 2023 and 31 March
2022
H. The accounting policies of the reportable segments are the same as the Group’s accounting policies described in note 2A.

42 CAPITAL MANAGEMENT
For the purpose of the Group’s capital management, equity includes issued equity capital, share premium and all other equity
reserves attributable to the equity holders of the Group. The primary objective of the Group’s capital management is to maximize
the shareholder value. The Group’s Capital Management objectives are to maintain equity including all reserves to protect
economic viability and to finance any growth opportunities that may be available in future so as to maximize shareholders’
value. The Group is monitoring capital using debt equity ratio as its base which is debt to equity. The Group’s policy is to keep
debt equity ratio below two and infuse capital if and when required through issue of new shares and/or better operational
results and efficient working capital management.
Debt-to-equity ratio are as follows:
(` in Crores)
Debt (including lease liability) (A) 1059.31 1336.33
Equity (B) 4038.95 3876.85
Debt to Equity Ratio (A / B) 0.26 0.34
43 FINANCIAL RISK MANAGEMENT FRAMEWORK

The Group’s principal financial liabilities, other than derivatives, comprise loans and borrowings, trade and other payables. The
Group’s principal financial assets include loans, trade and other receivables and cash and cash equivalents that derive directly
from its operations. The Group also holds FVTOCI investments and enters into derivative transactions.
The Group is exposed to market risk, credit risk and liquidity risk. The Group’s senior management oversees the risk
management. The Group’s senior management provides assurance that the Group’s financial risk activities are governed by
appropriate policies and procedures and that financial risks are identified, measured and managed in accordance with the
Group’s policies and risk objectives. All derivative activities for risk management purposes are carried out by teams that have
the appropriate skills, experience and supervision. The Board of Directors reviews and agrees policies for managing each of
these risks, which are summarised below.
A. Credit Risk
Credit risk is the risk that counter party will not meet it obligation under a financial instrument or customer contract leading
to a financial loss. The Group is exposed to credit risk mainly from trade receivables and other financial assets. The group
only deals with parties which has good credit ratings / worthiness based on Group’s internal assessment.
The Group has divided parties in two grades based on their performance.
Good: parties with a positive external rating (if available) and stable financial position with no past default is considered
in this category.
Doubtful: parties where the Group doesn’t have information on their financial position or has past trend of default are
considered under this category.
The Group has not acquired any credit impaired asset. There was no modification in any financial assets.
(i) Trade receivables

Customer credit is managed by each business division subject to the Group’s established policy procedures and
control related to customer credit risk management.
Export customers are mainly against Letter of Credit and/or insurance cover on export outstanding is also taken.
Generally deposits are taken from domestic debtors. Apart from deposit there is a commission agent area wise. In
case any customer defaults the amount is first recovered from deposits, then from the agent’s commission. Each
outstanding customer receivables are regularly monitored and if outstanding is above due date the further shipments
are controlled and can only be released if there is a proper justification. The carrying amount and fair value of security
deposit amounts to `73.69 crores (31 March 2022: ` 53.11 crores) as it is payable on demand.


The Group evaluates the concentration of risk with respect to trade receivables as low, as its customers are located
in several jurisdictions and industries and operate in largely independent markets and their credit worthiness are
monitored at periodical intervals. The maximum exposure to credit risk at the reporting date is the carrying value of
each class of financial assets.
The Group has recognised loss allowance provision on trade receivables amounting to ` 14.49 Crs during the year
(31 March 2022 ` 1.60 Crs) as there was no reasonable expectations of recovery and were outstanding for more than
360 days from becoming due.
(` in Crores)
Less Then More Then
As at 31 March 2023
180 Days 180 Days
(` in Crores)
Less Then More Then
As at 31 March 2022
180 Days 180 Days
Reconciliation of loss allowance provision for Trade Receivables
(` in Crores)
Balance as at beginning of the year 13.31 11.71
On receivables originated in the year 14.49 1.60
Amounts recovered / written back during the year (3.62) -
Balance at end of the year (Continuing Operations) 24.18 13.31
(ii) Other Financial Assets

Credit risk from balances with banks is managed by Group’s treasury department in accordance with the Group
policy. Investment of surplus funds are made only in approved Mutual Funds and that too in liquid funds. As soon
as the fund reaches to a reasonable level the Group repay its working capital borrowing by redeeming the liquid
fund. The other financial assets are from various forum of Government authorities and are released by Government
authorities on completion of relevant terms and conditions for the release of outstanding.
B. MARKET RISK
Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes
in market prices. Market risk comprises of three types of risks – interest rate risk, currency risk and other price risk in a
fluctuating market environment. Financial instrument affected by market risks includes loans and borrowings, deposits,
FVTOCI Investments, derivatives and other financials assets.
The Group has designed risk management frame work to control various risks effectively to achieve the business
objectives. This includes identification of risk, its assessment, control and monitoring at timely intervals.


The sensitivity analyses in the following sections relates to the outstanding balance as at 31 March 2023 and 31 March
2022
The sensitivity analyses have been prepared on the basis that the amount of net debt, the ratio of fixed to floating interest
rates of the debt and derivatives and the proportion of financial instruments in foreign currencies are all constant in place
at 31 March 2023.
The sensitivity of the relevant profit or loss item is the effect of the assumed changes in respective market risks. This is
based on the financial assets and financial liabilities held at 31 March 2023 and 31 March 2022
(i) Currency Risk

This is the risk that the Group may suffer losses as a result of adverse exchange rate movement during the relevant
period. As a policy, Group is covering all foreign exchange risk on account of import and loans so that Group may
not be put to any loss situation due to adverse fluctuations in currency rates. There is periodical review of foreign
exchange transactions and hedging by the Group’s executives.
Foreign Currency Sensitivity

The following tables demonstrate the sensitivity to a reasonably possible change in USD, EUR and GBP exchange
rates, with all other variables held constant. The impact on the Group’s profit before tax is due to changes in the
fair value of monetary assets and liabilities including non-designated foreign currency derivatives. The Group
evaluates exchange rate exposure arising from foreign currency transactions. The Group follows established risk
management policies and standard operating procedures. The Group’s exposure to foreign currency changes for all
other currencies is not material.
(` in crores)
Currency Change in rate Effect on profit
before tax
31 March 2023 USD +5% 2.63
USD -5% (2.63)
EUR +5% (0.03)
EUR -5% 0.03
31 March 2022 USD +5% (5.57)
USD -5% 5.57
EUR +5% (0.61)
EUR -5% 0.61
Outstanding foreign currency exposures As at 31 March 2023 As at 31 March 2022

Foreign ` In crore Foreign ` In crore
Currency Currency
(in millions) (in millions)
Trade Receivables
USD 2.30 18.87 0.39 2.71
Trade Payables
USD 7.16 58.83 21.95 165.81
Euro 0.07 0.61 1.42 12.13
Others 0.03 0.23 0.02 0.15


The following table gives details in respect of outstanding foreign exchange forward contracts

(In millions) (` In Crores) (` In Crores)
In USD Buy 11.22 92.53 0.31

(In millions) (` In Crores) (` In Crores)
In USD Buy 6.80 51.65 0.12
(ii) Interest rate risk

The Group manages interest rate risk by having a balanced portfolio of fixed and variable rate of interest on loans
and borrowings. To manage this, Group has issued fixed rate bonds and loans taken from banks are linked to MCLR
rate of the bank, which are variable.
Interest rate sensitivity

The following table demonstrates the sensitivity to a reasonably possible change in interest rates on that portion of
loans and borrowings affected. With all other variables held constant, the Group’s profit before tax is affected through
the impact on floating rate borrowings, as follows:
(` in crores)
Currency Increase / decrease Effect on profit
in basis points before tax
31 March 2023 INR +50 (1.94)
INR -50 1.94
31 March 2022 INR +50 (1.76)
INR -50 1.76
(` in crores)
Particulars Total Floating rate Fixed rate
Borrowings Borrowings Borrowings
INR 1037.71 388.76 648.95
Total as at 31 March 2023 1037.71 388.76 648.95
INR 1315.56 352.74 962.82
Total as at 31 March 2022 1315.56 352.74 962.82
The assumed movement in basis points for the interest rate sensitivity analysis is based on the currently observable
market environment, showing a significantly higher volatility than in prior years.
(iii) Equity Price Risk

The Group is exposed to equity price risks arising from equity investments. Equity investments are held for strategic
rather than trading purposes. The Group does not actively trade these investments.


C. LIQUIDITY RISK
(i) Liquidity risk management

The Group manages liquidity risk by continuously monitoring forecast and actual cash flows on daily, monthly and
yearly basis. The Group ensures that there is a free credit limit available at the start of the year which is sufficient
for repayments getting due in the ensuing year. Loan arrangements, credit limits with various banks including
working capital and monitoring of operational and working capital issues are always kept in mind for better liquidity
management
(ii) Maturities of financial liabilities

The following tables detail the Group’s remaining contractual maturity for its non-derivative financial liabilities with
agreed repayment periods. The amount disclosed in the tables have been drawn up based on the undiscounted cash
flows of financial liabilities based on the earliest date on which the Group can be required to pay.
To the extent that interest flows are floating rate, the undiscounted amount is derived from interest rate curves at
the end of the reporting period. The contractual maturity is based on the earliest date on which the Group may be
required to pay.
(` in Crores)
As at 31 March 2023 On Less than 1-3 Years 3 Years to 5 years Total
Non Derivative financial instruments
Long term borrowings (including current
maturities of long-term debt) - 365.43 486.56 - - 851.99
capital loan 133.88 - - - - 133.88
Pre-shipment, post-shipment
facilities - 30.00 - - - 30.00
Line of credit - 35.00 - - - 35.00
Trade payables
Trade payables - micro and small
enterprises - 19.11 - - - 19.11
Trade payables - other than micro
and small enterprises - 766.40 - - - 766.40
Deposits from dealers and agents 73.69 - - - - 73.69
arrangements - 66.83 23.99 2.65 200.00 293.47
Other interest accrued - 10.81 - - - 10.81
Creditors for capital supplies /
services - 20.82 - - - 20.82
Earnest money on booking of
residential inventory 0.55 - - - - 0.55
Total 208.12 1324.94 511.04 2.65 200.00 2246.75

(` in Crores)

Long term borrowings - 679.81 407.61 7.43 - 1,094.85

capital loan 11.16 - - - - 11.16
Commercial paper - 315.00 - - - 315.00
Trade payables
Trade payables - micro and small

enterprises - 11.88 - - - 11.88
Trade payables - other than micro

and small enterprises - 846.08 - - - 846.08
Deposits from dealers and agents 53.11 - - - - 53.11

arrangements - 54.77 20.40 - 200.00 275.17
Creditors for capital supplies /

services - 14.58 - - - 14.58
Earnest money on booking of

residential inventory 1.69 - - - - 1.69
Total 65.96 1935.66 428.50 7.43 200.00 2637.55
(iii) Maturities of financial assets

The following table details the Group’s expected maturity for its non-derivative financial assets. The table has been
drawn up based on the undiscounted contractual maturities of the financial assets including interest that will be
earned on those assets. The inclusion of information on non-derivative financial assets is necessary in order to
understand the Group’s liquidity risk management as the liquidity is managed on a net asset and liability basis.

(` in Crores)

Security deposits - 1.55 - 6.53 - 8.08
Bank deposit more than 12 months - - 10.09 - - 10.09
Others - 2.59 - - - 2.59
Finance lease receivables - - 1.48 - - 1.48
Total 1.67 273.48 13.44 6.53 - 295.12
(` in Crores)

Security deposits - 0.67 - 7.27 - 7.94
Unbilled Revenue - 1.04 2.23 - - 3.27
Bank deposit more than 12 months - - 48.49 - - 48.49
Others - 5.57 0.17 - - 5.74
Finance lease receivables - 0.48 - - - 0.48
Total 1.83 308.11 50.89 7.27 - 368.10

44 FAIR VALUE MEASUREMENT
Fair value of financial assets and financial liabilities
(` in Crores)
31 March 2023 31 March 2022

value value
Financial assets
Financial assets measured at Fair value through OCI:

Investments
Quoted equity shares 157.33 157.33 216.68 216.68
Unquoted equity shares 38.46 38.46 38.50 38.50
Financial assets measured at Fair value through profit and

loss:
Investment in mutual funds 3.00 3.00 131.00 131.00
Financial assets at amortised cost for which Fair value are

disclosed
Government and Trust Securities 5.82 5.82 8.01 8.01
Other financial Assets
Security Deposit 8.08 8.08 7.94 7.94
Interest Receivable 10.45 10.45 5.42 5.42
Unbilled Revenue 3.37 3.37 3.27 3.27
Finance Lease 1.48 1.48 0.48 0.48
Bank deposit more than 12 months 10.09 10.09 48.49 48.49
Others 2.59 2.59 5.74 5.74
Trade Receivables 156.44 156.44 216.80 216.80
Cash and Cash Equivalents 48.51 48.51 34.82 34.82
Other Bank Balances 102.62 102.62 30.99 30.99
Total 548.24 548.24 748.14 748.14

(` in Crores)
31 March 2023 31 March 2022

value value
Financial liabilities at amortised cost for which Fair value
are disclosed
Floating rate borrowings (including current maturities and
Interest accrued) 388.76 388.76 352.74 352.74
Fixed rate borrowings (including current maturities and

Interest accrued) 655.91 633.32 962.82 984.32
Lease liabilities (current and non current) 21.60 21.60 20.76 20.76
Trade payables 785.51 785.51 857.96 857.96
Deposits from dealers and agents 73.69 73.69 53.11 53.11
Deposits against rental arrangements 176.23 168.58 163.86 164.15
Earnest money on booking of residential inventory 0.55 0.55 1.69 1.69
Other interest accrued 3.84 3.84 9.63 9.63
Unclaimed / Unpaid dividends 1.67 1.67 1.83 1.83
Creditors for capital supplies/services 20.82 20.82 14.58 14.58
Other liabilities 9.36 9.36 2.57 3.77
Total 2137.94 2107.70 2441.55 2464.54

The management assessed that cash and cash equivalents, trade receivables, trade payables, cash credit and all other
current financial assets and liabilities approximates their carrying amounts largely due to the short-term maturities of these
instruments.
The fair value of the financial assets and liabilities are included at the amount at which the instrument could be exchanged in a
current transaction between willing parties, other than in a forced or liquidation sale. The following methods and assumptions
were used to estimate the fair values:
(i) Receivables are evaluated by the Group based on parameters such as interest rates and individual credit worthiness of the
customer. Based on this evaluation, allowances are taken into account for the expected credit losses of these receivables.
(ii) The fair value of loans from banks and other financial liabilities, security deposit, as well as other financial liabilities
is estimated by discounting future cash flows using rates currently available for debt on similar terms, credit risk and
remaining maturities.
(iii) The fair values of the unquoted equity instruments have been estimated using a net adjusted fair value method. The
valuation requires management to make certain assumptions about the assets, liabilities, investments of Investee Group.
The probabilities of the various assumptions can be reasonably assessed and are used in management’s estimate of fair
value for these unquoted equity investments based on the best information available to the Group.


(iv) The fair values of quoted equity instruments are derived from quoted market prices in active markets.
(v) The Group enters into foreign exchange forward contracts are valued using valuation techniques, which employs the use
of market observable inputs.
(vi) The fair value of floating rate borrowings are determined by using discounted cash flow method using discount rate that
reflects the issuer’s borrowing rate at the end of the reporting period. As the Group’s interest rates changes with the
change in market interest rate, there is no material difference in carrying value and fair value. The own non performance
risk as at 31 March 2023 was assessed to be insignificant.
(` in Crores)

Particulars
Financial assets
Financial assets measured at Fair value through
OCI:
Investments

profit and loss:
Financial assets at amortised cost for which Fair

value are disclosed
Government and Trust Securities - 5.82 - 5.82
Security Deposit - 8.08 - 8.08
Interest Receivable - 10.45 - 10.45
Unbilled Revenue - 3.37 - 3.37
Finance Lease - - 1.48 1.48
Bank deposit more than 12 months - 10.09 - 10.09
Others - 2.59 - 2.59
Trade Receivables - 156.44 - 156.44
Cash and Cash Equivalents - 48.51 - 48.51
Other Bank Balances - 102.62 - 102.62
Total 160.33 349.45 38.46 548.24

(` in Crores)
Particulars
Financial liabilities at amortised cost for which
Fair value are disclosed
Fixed rate borrowings (including current maturities
and Interest accrued) - 633.32 - 633.32
Earnest money on booking of residential
inventory - 0.55 - 0.55
Unclaimed / Unpaid dividends - 1.67 - 1.67
Total - 2107.70 - 2107.70

(` in Crores)
Particulars
Financial assets
OCI:
Investments
profit and loss:
Financial assets at amortised cost for which Fair
value are disclosed
Government and Trust Securities - 8.01 - 8.01
Security Deposit - 7.94 - 7.94
Interest Receivable - 5.42 - 5.42
Unbilled Revenue - 3.27 - 3.27
Finance Lease - 0.48 - 0.48
Bank deposit more than 12 months - 48.49 - 48.49
Others - 5.74 - 5.74
Trade Receivables - 216.80 - 216.80
Cash and Cash Equivalents - 34.82 - 34.82
Other Bank Balances - 30.99 - 30.99
Total 347.68 361.96 38.50 748.14

(` in Crores)
Particulars
Financial liabilities at amortised cost for which
Fair value are disclosed
Fixed rate borrowings (including current maturities
and Interest accrued) - 984.32 - 984.32
Earnest money on booking of residential
inventory - 1.69 - 1.69
Unclaimed / Unpaid dividends - 1.83 - 1.83
Total - 2464.54 - 2464.54
Fair Valuation Techniques and Inputs used - recurring Items

(` in Crores)
Financial Fair value as at Fair value Valuation Significant Relationship of
assets/ 31 March 2023 31 March 2022 hierarchy technique(s) unobservable unobservable inputs to fair
financial and key input(s) value and sensitivity
liabilities input(s)
measured at
Fair value
Financial assets Level 3 Replacement Investment 5% (31 March 2022: 5%)
Investments Cost Method property held increase (decrease) in the
by investee fair value of investment
Unquoted Equity 38.46 38.50
companies property would result in
investments
increase (decrease) in fair
Total financial 38.46 38.50 value of unquoted equity
assets investment by ` 1.34 Crore
(31 March 2022 ` 1.37
Crore)
There were no transfers between level 1 and level 2 for recurring fair value measurements during the year. For transfers in and
out of level 3 measurements, refer example below.
There were no significant inter-relationships between unobservable inputs that materially affects fair values.
Reconciliation of fair value measurement of unquoted equity shares classified as FVTOCI assets:
(` in Crores)
Opening 38.50 35.87
Re-measurement recognised in OCI (0.04) 2.63
Closing 38.46 38.50

45 DISCLOSURE UNDER IND AS 116 “ LEASES “:
Lessee:
The Group has lease contracts for lands & buildings used in its operations. Leases of land and building generally have lease
terms between 3 and 99 years. Generally, the Group is restricted from assigning and subleasing the leased assets.
(` in Crores)

Amount recognized in statement of profit or loss
March 31 2023 March 31 2022
Depreciation of right-of-use assets 3.57 3.74
Interest on lease liabilities (including interest on reclassified prepayments) 1.88 1.88
Expenses related to short term leases 2.03 1.42
Total 7.48 7.04

The following table sets out the maturity analysis of lease liability to be paid after the reporting date:
(` in Crores)
Particulars March 31 2023 March 31 2022
Less than 1 year 3.22 3.18
1-3 years 4.01 3.99
3-5 years 3.79 3.79
5 years and above 52.10 52.74
Total as at 31 March 63.12 63.70

Set out below are the carrying amounts of lease liabilities (included under interest-bearing loans and borrowings) and the
movements during the period:
(` in Crores)
As at 1 April 20.76 23.31
Additions 2.99 -
Accretion of interest 1.88 1.88
Payments 4.03 4.43
As at 31 March 21.60 20.76
Current 2.26 2.30
Non-current 19.34 18.46
(` in Crores)
Amount recognized in statement of cash flows For the year ended For the year ended
March 31 2023 March 31 2022
Total cash outflow of leases 4.06 4.43


Lessor - Operating Lease:
The Group has significant leasing arrangements in respect of operating leases for premises. These are non cancellable leases
with a lock in period of minimum three years. Most of the leases are renewable for a further period on mutually agreeable
terms and also include escalation clauses on renewal. The Group has entered into operating leases for its Investment property.
These typically have lease terms of between 1 to 4 years. The Group has recognized an amount of ` 124.73 Crore (31 March
2022 ` 126.45 Crore) as rental income for operating lease during the year ended March 31, 2023
Future minimum rentals receivable under non-cancellable operating leases are, as follows:
(` in Crores)
Less than a year 39.88 54.45
One to two years 11.92 33.70
Two to three years 6.16 7.23
Three to four years 3.69 2.17
Four to five years 2.37 -
Total (A) 64.02 97.55
More than five years (B) 4.41 -
Total (A +B) 68.43 97.55
Lessor - Finance Lease:

The Group has entered into Finance leases arrangement for leasehold improvement in investment property. These leases have
terms of between three and five years
Amount receivable under Finance Lease:
(` in Crores)
Less than a year - 0.49
One to two years 0.55 -
Two to three years 1.36 -
Total 1.91 0.49
Unearned Finance Income (0.43) (0.01)
Present value of minimum lease payment receivable 1.48 0.48

46 RATIO ANALYSIS AND ITS ELEMENTS
Reason
Ratio Numerator Denominator 31-Mar-23 31-Mar-22 % change for
variance
Current ratio Current Assets Current Liabilities 1.16 1.07 8.41%
Debt- Equity Ratio Total Debt Shareholder’s Equity Refer

0.26 0.34 -23.53%
Note (a)
Debt Service Earnings for debt service = Debt service = Interest

Refer
Coverage ratio Net profit after taxes + Non- & Lease Payments + 0.74 2.25 -67.11%
Note (b)
cash operating expenses Principal Repayments
Return on Equity ratio Net Profits after taxes Average Shareholder’s Refer
0.07 0.04 75.00%
Equity Note (a)
Inventory Turnover Cost of goods sold Average Inventory

3.99 4.35 -8.28%
ratio
Trade Receivable Net sales = Gross sales - Average Trade Refer

25.29 21.66 16.76%
Turnover Ratio sales return Receivable Note (a)
Trade Payable Net purchases = Gross Average Trade

Turnover Ratio purchases + other Payables 5.92 5.42 9.23%
expenses - purchase return
Net Capital Turnover Net sales = Total sales - Working capital =

Ratio sales return Current assets –
Current liabilities 4.78 5.03 -4.97%
(Excluding current
borrowings)
Net Profit ratio Net Profit Net sales = Total sales Refer
5.51% 3.91% 40.92%
- sales return Note (a)
Net Profit ratio before Net Profit before Net sales = Total sales
exceptional items exceptional items (net of - sales return 3.25% 3.91% -16.88%
tax expense)
Return on Capital Earnings before interest Capital employed =

Employed and taxes Tangible Net worth + Refer
0.08 0.06 33.33%
Total debt + Deferred Note (a)
tax liability
Return on Investment Interest (Finance Income) Investment 3.46% 3.07% 12.70%
Notes :
(a) During the year, the Company has recorded exceptional gain on account of transfer of leasehold land of ` 134.21 crores.
Accordingly, all ratios related to cash flows, revenue and profitability of the Company has been improved as compared to
previous year.
(b) Mainly on account of redemption of Non Convertible debentures of ` 400.00 crores during the year

47 OTHER STATUTORY INFORMATION

(i) The Group does not have any Benami property, where any proceeding has been initiated or pending against the Group for
holding any Benami property.
(ii) The Group does not have any transactions with companies struck off.
(iii) The Group does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.
(iv) The Group has not traded or invested in Crypto currency or Virtual Currency during the financial year.
(v) The Group has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities
(Intermediaries) with the understanding that the Intermediary shall:
the Group (Ultimate Beneficiaries) or
(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries
(vi) The Group has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the
understanding (whether recorded in writing or otherwise) that the Group shall:
the Funding Party (Ultimate Beneficiaries) or
(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries
(vii) The Group does not have any such transaction which is not recorded in the books of accounts that has been surrendered
or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey
or any other relevant provisions of the Income Tax Act, 1961.
48. The Company has defined process to take daily back-up of books of account maintained electronically and maintain the
logs of the back-up of such books of account however in few cases daily back-up was failed because of technical issue
and manual back-up has been taken on the next day. Management has taken adequate steps to configure systems to
ensure that back up for books of account is taken on daily basis even in case of technical failure.
49 INTEREST IN JOINT VENTURE

Birla Advanced Knits Private Limited (BAKPL) incorporated on 14 July 2021. The Group has a 50% interest in BAKPL, a joint
venture involved in the manufacturing, marketing, supplying, selling & distribution of the MMCF knit product. The Group’s
interest in BAKPL is accounted for using the equity method in the consolidated financial statements. Summarised financial
information of the joint venture, based on its Ind AS financial statements, and reconciliation with the carrying amount of the
investment in consolidated financial statements are set out below:
Summarised balance sheet
(` in Crores)
Current assets, including cash and cash equivalents ` 0.79 Crore (31 March 2022 10.83 0.69
` 0.28 crores)
Non-current assets 195.10 29.16
Non-current liabilities (146.61) -
Current liabilities (13.00) (0.11)
Equity 46.32 29.74
Group’s share in equity- 50% 23.16 14.87
Group’s carrying amount of the investment 23.16 14.87

49 INTEREST IN JOINT VENTURE (Continued)

Summarised statement of profit and loss
(` in Crores)

Particulars
March 31 2023 March 31 2022
Revenue from contracts with customers - -
Other Income 0.13 0.26
Finance costs (0.32) -
Other expense (1.96) (0.47)
Loss before tax (3.59) (0.27)
Income tax expense 0.10 -
Loss for the year (3.69) (0.27)
Total comprehensive loss for the year (3.69) (0.27)
Group’s share of loss for the year (1.84) (0.13)

The joint venture had no other contingent liabilities or capital commitments as at 31 March 2023.
49A SUMMARISED FINANCIAL INFORMATION OF MATERIAL NON CONTROLLING INTERESTS

Financial Information of Subsidiaries that have material non-controlling interest is provided below:
Proportion of equity interest held by non-controlling interests:
(` in Crores)
Name Country of March 31 2023 March 31 2022

Name
Incorporation
Avarna Projects LLP India 50% 50%
Birla Tisya LLP India 60% 60%
(a) Avarna Projects LLP
(i) Summarised Balance Sheet:
(` in Crores)
Non-current Assets 7.43 2.98
Current Assets 807.15 583.51
Non-current Liabilities (492.92) (437.40)
Current Liabilities (350.86) (168.75)
(29.20) (19.66)
Attributable to:
Equity holders of parent (14.60) (9.83)
Non-controlling interest (14.60) (9.83)

49A SUMMARISED FINANCIAL INFORMATION OF MATERIAL NON CONTROLLING INTERESTS (Continued)

(ii) Summarised Statement of Profit and Loss:
(` in Crores)
Particulars
March 31 2023 March 31 2022
Other income 0.28 0.23
Depreciation and amortisation expense (0.59) (0.61)
Other expenses (7.09) (1.06)
Tax Expenses - -
Other Comprehensive Income/(Expense) for the year - -
Total Comprehensive Loss for the year (9.54) (3.82)
Attributable to:
(iii) Summarised Cash Flow information:

(` in Crores)
Particulars
March 31 2023 March 31 2022
Operating Activities (26.86) (52.76)
Investing Activities (23.81) (10.20)
Financing Activities 53.13 29.21
Net (Decrease) / Increase in Cash and Cash Equivalents 2.46 (33.75)
(b) Birla Tisya LLP
(i) Summarised Balance Sheet:
(` in Crores)
Non-current Assets 51.47 54.78
Current Assets 135.61 53.05
Non-current Liabilities (65.88) (71.31)
Current Liabilities (130.12) (41.32)
(8.91) (4.80)
Attributable to:

49A SUMMARISED FINANCIAL INFORMATION OF MATERIAL NON CONTROLLING INTERESTS (Continued)

(ii) Summarised Statement of Profit and Loss:
(` in Crores)
Particulars
March 31 2023 March 31 2022
Other income 0.06 -
Depreciation and amortisation expense (0.84) (0.02)
Other expenses (1.77) (3.97)
Tax Expenses - -
Other Comprehensive Income/(Expense) for the year - -
Total Comprehensive Loss for the year (4.11) (4.86)
Attributable to:
(iii) Summarised Cash Flow information:

(` in Crores)
Particulars
March 31 2023 March 31 2022
Operating Activities 13.45 12.52
Investing Activities 0.30 (4.38)
Financing Activities (9.39) (7.76)
Net (Decrease) / Increase in Cash and Cash Equivalents 4.36 0.38

50 SUMMARY OF NET ASSETS, SHARE IN CONSOLIDATED PROFIT AND SHARE IN OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED MARCH, 31, 2023
(` in Crores)
As a % of Amount As a % of Amount As a % of Amount As a % of Amount
consolidated consolidated consolidated other consolidated total
Name of Entity
net assets net profit comprehensive comprehensive
income income
Parent Company
Century Textiles and Industries Limited 99.58% 4,184.54 115.17% 368.31 98.3% (58.18) 119.00% 310.13
Subsidiaries

Birla Estates Private Limited 1.35% 56.73 (10.65%) (34.06) 1.7% (1.01) (13.46%) (35.07)
Birla Century Exports Private Limited 0.01% 0.54 (0.01%) (0.02) 0.0% - (0.01%) (0.02)
Avarna Projects LLP
(Subsidiary of Birla Estates Private Limited) (0.69%) (29.20) (2.98%) (9.54) 0.0% - (3.66%) (9.54)
Company Overview
Birla Tisya LLP

(Subsidiary of Birla Estates Private Limited) (0.21%) (8.91) (1.29%) (4.11) 0.0% - (1.58%) (4.11)
Birla Aarna LLP
(Subsidiary of Birla Estates Private Limited) 0.01% 0.31 (0.06%) (0.18) 0.0% - (0.07%) (0.18)
Birla Century International LLC
(Subsidiary of Birla Century Exports Private Limited) (0.04%) (1.84) (0.19%) (0.60) 0.0% - (0.23%) (0.60)
100.0% 4202.17 100.00% 319.80 100.0% (59.19) 100.0% 260.61
a) Adjustments arising out of consolidation - 163.22 - 62.58 - - - 62.58
Statutory Reports
b) Non controlling interest - 152.12 - (7.33) - - - (7.33)

Total - 3886.83 - 264.55 - (59.19) - 205.36
51 Figures less than ` 50,000 have been shown at actuals in brackets, since the figures are rounded off to the nearest lakh.


469
FIVE YEAR HIGHLIGHTS
(` in Crores)
CONSOLIDATED
PARTICULARS 2022-23 2021-22 2020-21 2019-20 2018-19
(Restated)
INCOME
Sales (Net of Rebates & Returns) & rent from leased

properties 4719.32 4068.36 2567.36 3331.40 3633.26
Other Income (Including Operating Income) 107.85 105.65 110.83 127.23 420.08
4827.17 4174.01 2678.19 3458.63 4053.34
EXPENDITURE
Material & Overheads (+ /- Stock Adj.) 4272.32 3686.44 2392.87 2858.57 2992.41
EARNING BEFORE TAX, DEPRECIATION AND

AMORTIZATION FROM CONTINUING OPERATIONS
(EBITDA) 554.85 487.57 285.32 600.06 1060.93
Less : Finance Cost 53.89 52.18 70.70 87.09 101.55
PROFIT BEFORE DEPRECIATION AND TAX 500.96 435.39 214.62 512.97 959.38
Less : Depreciation 227.08 230.66 231.13 228.58 193.00
PROFIT/(LOSS) BEFORE TAX FROM CONTINUED

OPERATIONS 273.88 204.73 (16.51) 284.39 766.38
Share of Profit / (Loss) of Joint Venture (1.84) (0.13) - - -
PROFIT BEFORE EXCEPTIONAL ITEMS AND TAX 272.04 204.60 (16.51) 284.39 766.38
Exceptional Items 134.21 - - - -
PROFIT BEFORE TAX FROM CONTINUING OPERATIONS 406.25 204.60 (16.51) 284.39 766.38
Less : Tax (Net) - including deferred tax from continuing

OPERATIONS 141.70 50.44 (1.44) (93.69) 266.91
NET PROFIT / (LOSS) 264.55 154.16 (15.07) 378.08 499.47
PROFIT/(LOSS) FROM DISCONTINUING OPERATIONS - 10.59 (28.50) (27.13) 5546.90
Less : Tax (Net) - including deferred tax from discontinued

operations - (3.05) 9.96 9.48 16.79
PROFIT/(LOSS) BEFORE TAX FROM DISCONTINUING

OPERATIONS - 7.54 (18.54) (17.65) 5563.69
Net Profit 264.55 161.70 (33.61) 360.43 6063.16
DIVIDEND (%) 50.00 40.00 10.00 30.00 75.00
CASH PROFIT AFTER TAX 681.47 450.07 266.37 383.84 734.82
BOOK VALUE PER SHARE 361.59 347.08 326.53 323.33 294.91

STATEMENT OF ASSETS AND LIABILITIES FOR FIVE YEARS
(` in Crores)
CONSOLIDATED
PARTICULARS 2022-23 2021-22 2020-21 2019-20 2018-19
(Restated)
ASSETS
Non-Current Assets
(a) Property, plant & equipment (including Investment
Property & CWIP) 4165.18 4284.29 4349.50 4469.40 4704.97
(b) Financial Assets 338.4 439.51 307.00 422.80 318.16
(c) Other Non current assets 21.58 25.65 38.59 51.29 40.83
Sub-Total - Non Current Assets 4525.16 4749.45 4695.09 4943.49 5063.96
Current assets
(a) Inventories 3256.10 2330.86 1508.29 1337.68 699.00
(b) Financial Assets
(i) Investments 3.00 131.00 45.00
(ii) Trade Receivables 156.44 216.80 157.85 181.24 203.86
(iii) Cash & Cash Equivalent 151.13 65.81 126.19 120.23 61.89
(iv) Other Financial Assets 16.09 13.18 19.80 28.13 26.04
(c) Other Current assets 343.72 231.74 139.29 135.39 117.83
Sub-Total - Current Assets 3926.48 2989.39 1996.42 1802.67 1108.62
Assets classified as held for Sale - - 1.96 1.33 2.23
TOTAL ASSETS 8451.64 7738.84 6693.47 6747.49 6174.81
EQUITY & LIABILITIES
Equity
(a) Equity Share Capital 111.69 111.69 111.69 111.69 111.69
(b) Other Equity 3775.14 3607.13 3392.67 3367.80 3182.40
(c) Non Controlling Interest 152.12 158.03 143.03 132.09
Sub-Total - Equity 4038.95 3876.85 3647.39 3611.58 3294.09
Liabilities
Non-Current Liabilities
(a) Financial Liability
(i) Borrowings 399.09 381.82 864.97 549.92 701.58
(ii) Lease Liabilities 19.34 18.46 20.62 15.44 12.20
(iii) Other Financial Liabilities 117.82 98.19 97.13 87.15 91.83
(b) Provisions 2.48 1.50 0.75 0.74 0.35
(c) Deferred Tax Liabilities 40.64 - - - 93.99
(d) Other Non-current Liabilities 454.50 520.21 571.51 601.18 686.72
Sub-Total - Non-Current Liabilities 1033.87 1020.18 1554.98 1254.43 1586.67
Current Liabilities
(a) Financial Liability
(i) Borrowings 638.62 933.74 160.23 33.84 200.44
(ii) Lease Liabilities 2.26 2.30 2.69 1.95 -
(iii) Trade Payables 785.51 857.96 620.52 492.61 519.35
(iv) Other Financial Liabilities 175.31 149.08 136.52 944.16 260.17
(b) Provisions 182.46 181.87 189.68 181.94 175.81
(c) Other Current Liabilities 1594.66 716.86 333.69 181.65 95.33
Sub-Total - Current Liabilities 3378.82 2841.81 1443.33 1836.15 1251.10
Liabilities directly associated with assets held for sale - - 47.77 45.33 42.95
TOTAL - EQUITY & LIABILITIES 8451.64 7738.84 6693.47 6747.49 6174.81

notes
Carrying a century-old
legacy into a new decade
From a single unit plant in 1897, today, Century Textiles and Industries Ltd. (CTIL) is one of the leading powerhouses in the
country and is at the forefront of innovation, while being still rooted in its core values.
Over the years we have brought our century-old legacy and expertise to all our business endeavours across a host of industries,
becoming a trendsetter in cotton textiles, with a strong presence in Pulp & Paper and Real Estate.
Birla Century is the textile division With two fully leased commercial Established in 1984, Century Pulp
of CTIL and since Its inception, has projects and five residential projects and Paper is a leading manufacturer
always pioneered innovation in textile. in Kalyan-Mumbai, Worli-Mumbai, of excellent quality writing and
Bengaluru and Gurugram, Birla printing paper.
The state-of-the-art facility in Gujarat
Estates aims to deliver exceptional
manufactures a wide range of It is the only manufacturing facility
and premium LIFEDESIGNED®
premium textiles with applications in in the industry present in all paper
homes and office spaces.
personal apparel and household linen. segments - Paper, board and tissue as
well as Rayon Grade Pulp products.
For more information, visit www.centurytextind.com

CENTURY

Mumbai - 400 030, Maharashtra, India.
Tel : +91-22-24957000 | Fax : +91-22-24309491 | 24361980
Email : ctil.secretary@adityabirla.com Printed on
Website : www.centurytextind.com Recycled Paper

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ADITYA BIRLA

SH/Xll/2023 03n1 July, 2023

MOHANLAL MOHANLAL KEDIA

Century Texti les and Indu stri es Li m ited

NOTICE OF 126TH ANNUAL GENERAL MEETING

CENTURY TEXTILES AND INDUSTRIES LIMITED 1

Textiles Birla Century, Gujarat

NOTES FOR MEMBERS’ ATTENTION

2 CENTURY TEXTILES AND INDUSTRIES LIMITED

Century Textiles and Industries Limited www.centurytextind.com

BSE Limited www.bseindia.com

National Stock Exchange of India Limited www.nseindia.com

National Securities Depository Limited (NSDL) www.evoting.nsdl.com

For Shareholders queries :

CENTURY TEXTILES AND INDUSTRIES LIMITED 3

4 CENTURY TEXTILES AND INDUSTRIES LIMITED

CENTURY TEXTILES AND INDUSTRIES LIMITED 5

Step 1: Access to NSDL e-voting system

Type of shareholders Login Method

6 CENTURY TEXTILES AND INDUSTRIES LIMITED

Login type Helpdesk details

CENTURY TEXTILES AND INDUSTRIES LIMITED 7

How to Log-in to NSDL e-voting website?

Manner of holding shares i.e. Demat Your User ID is:

8 CENTURY TEXTILES AND INDUSTRIES LIMITED

General Guidelines for shareholders:

CENTURY TEXTILES AND INDUSTRIES LIMITED 9

10 CENTURY TEXTILES AND INDUSTRIES LIMITED

By Order of the Board,

Place: Mumbai ATUL K. KEDIA

ANNEXURE TO THE NOTICE

I. Explanatory Statement under Section 102(1) of the Companies Act, 2013

CENTURY TEXTILES AND INDUSTRIES LIMITED 11

12 CENTURY TEXTILES AND INDUSTRIES LIMITED

Name of the Director Smt. Rajashree Birla

Director Identification Number (DIN) 00022995

Date of Birth/Age 15th September, 1945 / 77 years

Date of appointment on the Board 05th May, 2015

Expertise in specific Functional areas Industrialist

CENTURY TEXTILES AND INDUSTRIES LIMITED 13

List of other Directorships held excluding Foreign Grasim Industries Limited,

List of Listed entity from which she has resigned Nil

Chairman/Member of the committees of the Nil

Number of shares held in the Company (including Nil

By Order of the Board,

Place: Mumbai ATUL K. KEDIA

14 CENTURY TEXTILES AND INDUSTRIES LIMITED

Sr. Particulars Details of access

4 Cut-off date for e-voting Thursday, 20th July, 2023

6 E-mail ID and period of registration for members who ctil.secretary@adityabirla.com

10 E-mail ID and period for members seeking any ctil.investorrelations@adityabirla.com

CENTURY TEXTILES AND INDUSTRIES LIMITED 15

16 CENTURY TEXTILES AND INDUSTRIES LIMITED

Leading with Purpose,

SHRI BASANT KUMAR BIRLA

A visionary. A humanitarian. A legend. His life

34-53 Value Creation Process

54-149 Our Capitals

172-294 Statutory Reports

Materiality Statement of Responsibility Restatements of External Assurance