Page 62 - Arvind 2024

There are no material changes and commitments affecting the financial position of your company, which have occurred between the end of the FY23 and the date of this report.
Further, there has been no change in the nature of business of the Company.
3. DIVIDEND:
Your Directors have recommended a final dividend of Rs. 2.50/- per equity share and special dividend of Rs. 1.00/- per equity share, totaling Rs. 3.50/- per equity share of Rs. 10/- each (i.e. 35%), for the financial year ended on March 31, 2024. Dividend pay-out is in accordance with the Company’s dividend distribution policy. The dividend, if approved by the members at the ensuing Annual General Meeting, would involve a cash outflow of about Rs. 1587.04 Lac. The dividend will be paid after deduction of tax at source to those Shareholders whose names appear in the Register of Members as on the Record Date.
The Dividend Distribution Policy containing the requirements mentioned in Regulation 43A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, can be accessed at the following Web-link: https:// www.arvindsmartspaces.com/wp-content/ uploads/2022/08/Dividend-Distribution-Policy.pdf
4. TRANSFER TO RESERVES:
The Directors have decided not to transfer any amount to the General Reserve for the year under review.
5. DETAILS OF MATERIAL CHANGES FROM THE END OF THE FINANCIAL YEAR TILL THE DATE OF THIS REPORT:
No Material Changes have taken place from the end of the financial year till the date of this report.
6. SHARE CAPITAL:
During the year under review, there has been no change in the authorised share capital of the Company. The authorised share capital of the Company as on March 31, 2024 stood at Rs. 50.00 Cr divided into 5.00 Cr equity share of Rs. 10/- each.
During the year under review, the Company has allotted 0.32 Lac equity shares of Rs. 10/- each to the eligible employees pursuant to the exercise of stock options granted to them in terms of the Arvind Infrastructure Limited - Employees Stock Option Plan - 2016. Consequently, the paid-up equity share capital of the Company stood at Rs. 4534.40 Lac consisting of 4,53,43,979 equity shares of Rs.10/- each.
During the year under review, the Company has neither issued shares with differential voting rights nor sweat equity shares.
7. EMPLOYEE STOCK OPTION SCHEME:
The Company has instituted Arvind Infrastructure Limited - Employees Stock Option Plan - 2016 (AIL ESOP - 2016) to grant equity-based incentives to certain eligible employees, directors of the Company and its Subsidiary Companies. During the year under review, the Company has not granted any stock options. There is no material change in AIL ESOP - 2016 during the year under review and the scheme is in compliance with Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The certificate of the Secretarial Auditor regarding implementation of scheme shall be made available for inspection of members in electronic mode at Annual General Meeting.
Disclosure in compliance with Section 62 of the Companies Act, 2013 read with Rule 12 of Companies (Share Capital and Debentures) Rules, 2014 and the Securities and Exchange Board of India (Share based Employee Benefits) Regulations, 2014 are set out in Annexure - A to this report.
8. DISCLOSURE UNDER SECTION 67 (3)
(C) OF THE COMPANIES ACT, 2013:
No disclosure is required under section 67 (3) (c) of the Companies Act, 2013 read with Rule 16(4) of Companies (Share Capital and Debentures) Rules, 2014, in respect of voting rights not exercised directly by the employees of the Company as the provisions of the said section are not applicable.
9. FINANCE:
During the year, the Company has availed net borrowings of Rs. 1,035 Lac. The investments in new Lands and projects during the year has been funded out of strong business inflows and incremental borrowings. The Total Standalone Debt of the Company stands at Rs. 6,191 Lac as on March 31, 2024. On a consolidated basis net interest bearing funds has decreased from ~ Rs.(3,000) Lac to ~Rs.(4,100) Lac. The Net Debt to Equity ratio on a consolidated basis as on March 31, 2024 is -0.10 as compared to -0.07 as on March 31,2023. This does not include Optionally Convertible Debentures issued to HCARE-3.
10. DEPOSITS:
During the year under review, the Company has not accepted or renewed any deposits within the meaning of Section 73 of the Companies Act, 2013 and the Rules framed thereunder.
60 | Arvind SmartSpaces Limited