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Investor Presentaiton

MRP NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2023 h. i. j. iii) iv) v) 15,000 [Floating Interest rate linked to 6 months T Bill rate] Listed Unsecured rated redeemable Taxable Non-convertible Debentures of *1,00,000/- each aggregating to 150 Crore issued on 24th February, 2023, are to be redeemed on 24th February, 2026. Secured Loan of 80.92 Crores was availed under SIPCOT soft loan in March 2020, further, additional SIPCOT Loan (secured) of 7.75 Crores was availed in March 2023. Interest is payable quartely at a rate of 0.10% (Previous year -0.10%). These loans are secured by way of second charge on the Fixed Assets created at the company's plants at Perambalur, Near Trichy, Tamil Nadu. These loans will be repaid in full in April 2033 and April 2036 respectively. Deferred payment credit is repayable along with interest (at varying rates) in 240 consecutive monthly instalments ending in March 2026. Events Occurring after the Balance Sheet date The proposed final dividend for Financial Year 2022-23 amounting to 71.68 Crores will be recognised as distribution to owners during the financial year 2023-24 on its approval by Shareholders. The proposed final dividend amounts to *169/- per share. Commitment: (i) (ii) (iii) Estimated amount of contracts remaining to be executed on Capital Account, net of advances and not provided for - 2185.02 Crores (Previous year *3031.32 Crores) Guarantees given by the Banks -130.78 Crores (Previous year- 43.84 Crores) Letters of Credit issued by the Banks - *265.58 Crores (Previous year - *182.45 Crores) Contingent Liabilities not provided for: Claims not acknowledged as debts: (a) Competition Commission of India (CCI) matter - Refer Note 1 below Disputed Sales Tax demands pending before the Appellate Authorities /High Court - 198.44 Crores (Previous year - *196.00 Crores) (b) (c) Disputed Excise/Customs Duty demands pending before the Appellate Authorities/High Court - 377.84 Crores (Previous year - *378.66 Crores) (d) (e) (f) Note 1: Disputed Income Tax Demands - 275.64 Crores (Previous year - 159.87 Crores). Against the said demand the company has deposited an amount of *131.61 Crores (Previous year *97.52 Crores) Disputed Goods and Service Tax demands pending before the Appellate Authorities - 0.56 Crores (Previous year- 1.70 Crores) Contested EPF Demands pending before Appellate Tribunal- 1.10 Crores (Previous year *1.10 Crores) The Competition Commission of India (CCI) had on 2nd February, 2022 released its order dated 31st August, 2018, imposing penalty on certain Tyre Manufacturers including the Holding Company and also the Automotive Tyre Manufacturers' Association, concerning the breach of the provisions of the Competition Act, 2002, during the year 2011-12. A penalty of *622.09 Crores was imposed on the Holding Company. The appeal filed by the Holding Company has been disposed off by National Company Law Appellate Tribunal (NCLAT) in December 2022 by remanding the matter to CCI for review after hearing the parties. CCI has in February 2023 filed an appeal against the Order of NCLAT before the Hon'ble Supreme Court. Pending disposal of the same, the Holding Company is of the view that no provision is considered necessary in respect of this matter in the Consolidated Financial Statements. For M M NISSIM & CO LLP Chartered Accountants Firm Reg. No. 107122W/W100672 N. KASHINATH Partner Mem. No. 036490 Chennai Dated 03rd May, 2023 For SASTRI & SHAH Chartered Accountants Firm Reg. No. 003643S CR KUMAR Partner Mem. No. 026143 Chennai MADHU P NAINAN Executive Vice President Finance S DHANVANTH KUMAR Company Secretary Chennai JACOB KURIAN V SRIDHAR Director KM MAMMEN Chairman & Director DIN: 00860095 DIN: 00020276 Managing Director DIN: 00020202 211
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