Ador Welding Ltd. — Annual Report 2021

Jun 10, 2021

AWL/SEC/SE/2021-22 10¢ June, 2021

01° Floor, Dalal Street, Bandra-Kurla Complex, Fort, Bandra (East), Mumbai - 400 023. Mumbai - 400 051.

BSE LTD. NATIONAL STOCK EXCHANGE OF INDIA LTD. Phiroze Jeejeebhoy Towers, Exchange Plaza, C - 1, Block G,

Company Scrip Code: 517041 Company Scrip Code: ADORWELD

Dear Sir / Madam,

Sub: Disclosure of Related Party Transactions for the year ended 315t March, 2021

Pursuant to the Regulation 23 (9) of SEBI (Listing Obligation and Disclosure Requirements), 2015, we are submitting herewith summary of Related Party Transactions, on a consolidated basis, for the year ended 31% March, 2021, in the format as specified in the relevant accounting standards for annual results.

We hereby request you to take this notice on record and acknowledge the receipt.

Thanking you,

Yours Sincerely,

For ADOR WELDING LIMITED

Ae MN C

VINAYAK M. BHIDE COMPANY SECRETARY & COMPLIANCE OFFICER Encl.: As above

ADOR WELDING LIMITED

ADOR WELDING LIMITED

Note 47 - Related Party Disclosure:

(1) List of related parties and relationship:

ADOR WELDING LIMITED
Summary of significant accounting policies and other explanatory information for the year ended 31 March 2021 Note 47 - Related Party Disclosure:
As per Ind AS 24 "Related party Disclosure	disclosure of transactions with the related parties as defined in the Accounting Standard are given below:
(1) List of related parties and relationship:
[Relationship	Name of the Persons 7 Company
(@® Holding Company: (ji) Subsidiary Company and fellow subsid	[J. B. Advani & Company Private Limited Ador Powertron Limited (Subsidiary of J. BL	Advani & Company Pri nited) te L
	Ador Green Energy Private Limited (Subsidiary of J.B. Advani & Company Private Limited) \dor Fontech Limited (Substdiary of J.B. Advani & Compa	Pawate Limited)
(iii) Other related party:	Ador Muluproducts Linuted (Subsidiary of J.B. Advani 1908 F- Ventures Pavate Limited (Step down subsidiary of	& Company Private Li ed) . B. Advani & Company pa Pavate Limited)
emt personnel (is) Key n	Ms \oB. Advan by- Execunve Charrnian Mrs. N. Matkamt Nagpal Execunve Chairman
	Mr. A. T. Malkat Managing (ir ctor (Lixecutive) Mr. S. M. Bhat Ex. Managing Dieector
	Mr. D. A, Lalvani - Whole Time Director (Executive) Mr. R. A. Mirchandant - Director (Non-executive)
	Ms. 'TH. Advani - Direetor (Non-executive) Mrs. Nita Dempo Mirchandant - Director (Independent & Non-executive)
	Mr. M. K. Maheshwari - Ex- Director (Independent & Director (Independent &Non-executive) Mr. P.K. Gupta	on-executive)
	Mr RON, Sapra Director (Independent & Non-executive) Me. K. Digwnnay Singh Director (Independent & Non-executive)
	Mr. G. M. Lalwan - Dircetor (Indep ndent & Non-executve) Mr. VM. Bhide Head - Corp. Admin, 1, KM, Legal & Company \$	weeretary
	Me. G. A. Patkar - Ex- Chief Financial Officer Me. Surya kant Sethia - Chief Financial Officer
(II) Transactions during the year:
Relationship / name of the related party	Description of the nature of transactions	(Rs. in lakhs)
a) Holding Company Advani & Company Pavate Limited J.B.	of goods (net) Sale	Wednesday farch 31, 2020]
	Purchase of goods and services recened	37] 6 AL 630
	Rent cecewed (net) Reimbursement of expenses (paid)	24] 27 6 y
b) Subsidiary Company and fellow subsidiaries \dor Powertron Limited	Recovery of expenses (ceccived) Purchase of goods	3 9
	Recovery of expenses (received)	z I
\dor Pantech Tamed	Sale of goods (ned) Sale of goods (net)	19] 0 154] 17
	Purchase of goods Recovery of expenses (received)	45) 6 0 1
[c) Other related party	Rent received (net)	1 1

Summary of significant accounting policies and other explanatory information for the year ended 31 March 2021
Note 47 - Related Party Disclosure:
As per Ind AS 24 "Related party Disclosure (1) List of related parties and relationship:	disclosure of transactions with the related parties as defined in the Accounting Standard are given below:
[Relationship (@® Holding Company:	Name of the Persons 7 Company
(ji) Subsidiary Company and fellow subsid	[J. B. Advani & Company Private Limited	Advani & Company
	Ador Powertron Limited (Subsidiary of J. BL Pri nited) te L Ador Green Energy Private Limited (Subsidiary of J.B. Advani & Company Private Limited)
	\dor Fontech Limited (Substdiary of J.B. Advani & Compa Pawate Limited)
	Ador Muluproducts Linuted (Subsidiary of J.B. Advani & Company Private Li ed)
(iii) Other related party:	1908 F- Ventures Pavate Limited (Step down subsidiary of	. B. Advani & Company pa Pavate Limited)
emt personnel (is) Key n	Ms \oB. Advan by- Execunve Charrnian
	Mrs. N. Matkamt Nagpal Execunve Chairman
	Mr. A. T. Malkat Managing (ir ctor (Lixecutive)
	Mr. S. M. Bhat Ex. Managing Dieector
	Mr. D. A, Lalvani - Whole Time Director (Executive)
	Mr. R. A. Mirchandant - Director (Non-executive)
	Ms. 'TH. Advani - Direetor (Non-executive)
	Mrs. Nita Dempo Mirchandant - Director (Independent & Non-executive) Mr. M. K. Maheshwari - Ex- Director (Independent &
	on-executive)
	Director (Independent &Non-executive) Mr. P.K. Gupta Mr RON, Sapra
	Director (Independent & Non-executive) Director (Independent & Non-executive) Me. K. Digwnnay Singh
	Mr. G. M. Lalwan - Dircetor (Indep ndent & Non-executve)
	Mr. VM. Bhide Head - Corp. Admin, 1, KM, Legal & Company \$ weeretary
	Me. G. A. Patkar - Ex- Chief Financial Officer
	Me. Surya kant Sethia - Chief Financial Officer
(II) Transactions during the year:
Relationship / name of the related party	Description of the nature of transactions		(Rs. in lakhs)
		Wednesday	farch 31, 2020]
a) Holding Company Advani & Company
Pavate Limited J.B.	of goods (net) Sale	37]	6
	Purchase of goods and services recened	AL	630
	Rent cecewed (net)	24]	27
	Reimbursement of expenses (paid)	6	y
	Recovery of expenses (ceccived)	3	9
b) Subsidiary Company and fellow subsidiaries \dor Powertron Limited	Purchase of goods
			z
	Recovery of expenses (received)		I
\dor Pantech Tamed	Sale of goods (ned) Sale of goods (net)	19]	0
	Purchase of goods	154]	17
	Recovery of expenses (received)	45)	6 0
	Rent received (net)	1
[c) Other related party		1	1
1908 E-Ventures Private Limited	received" Service	q I	0
1908 E-Ventuces Private Limited	Service received	6 l	:
[d) Key Management Personnel
Ms. A.B. Advani	Remuneration	E	181
	Recovery of Commission for previous years	3	:
	Professional fees and reumbursement	2	26
Mrs. Nv M. Nagpal	Remuneranon	16	126
	Recovery of Commission for previous years	4	-
(Refer Mr. S. M, Bhat (Iix- Managing Director) note (1) below)	Remuneration	47	156
Malkam (Managing Director) (Refer note (2) below) Me. A.T.	Remuneration	61	:
Mr. B.A. Lavani (Whole Time Director)	Remuneranon	127	3
	Recovery of Commussion for previous years	0	=
Me. V. M. Bhide (Corp. Admin, 1A, KM, Legal & Company Secretary) Mr. G. A. Patkar (Ex- Chief	Remuneration	38	36
Financial Officer) (Refer note (3) below) Me. Sunya kant Sethia (Chief Financial Officer) (Refer note (a) below)	Remuneration	13)	32
Directors (Non-executive and Independent & Non-executive directors)	Remuner: Sitting, Fees	4	=
	Commission	8	6 4

Amounts below RS 050 lakh have been rounded att

(111) Amount outstanding at the year end:

(111) Amount outstanding at the year end:
Relationship / name of the related party
	Description of the nature of transactions		(Rs. in lakhs)
a) Holding Company		Value of the transactions Wednesday, March 31, 2021
1B. \dvant & Company Pavare Lamneal			[Tuesday, March 31, 2020
1b) Subsidiary Company and fellow
Other related party
c) 1908 B Private
Management Ventures Key Mc. id) A.T. Malkani
(Managing Personnel Limited Directo (Refer note 2) below)
Mr_D_. Lavan Whole Time Directo
MeV. M. Bhide (Corp. Admin, T\, & Company Secretary) KM, begal

Notes:

¹Me S.M. Bhat (DIN:05168265) had reswened from the Directors accepted Ins resignation with immediate effect office of / positon of the Managing Director! Employes and ccleved him trom Ins duties as the Managing Director, 67 Director of the Company with etfvet feom 7 September 2020, the Board of 2. Me. Aditya 'T. Malkani (DIN:01585637) had be Directors of the Company.

Appointed as the Managing Dicector of the Company with effect from M4 September 2020 for a period of thece (3) years by the Board of \$Me Ginsh \nant Patkar had resigned team the office of / position of the Ch

financial Otficer & Key Managerial Personnel of the Company with effect from 9 September 2020, 4. Me. Surya kant Sethia who had been given Interim chacge of CFO, post resignation of Mr. Girish \nant Patkae, was appointed as Chie€ Financial Officer &Key \ Company with effect from 8 February 2021 nagcrial Peesonnel of the

1. Ms. Aruna Bo Advani, (DIN 00029256) Execunve Chairman, superannuated from the Board of the Company on 18th November, 2019, on atta ning the age of 65. Pursuant to the suce

Planning at the Company, the Boaed, on recommendation of th Nomination and Remuneration Commutice, ee-dlesignated Mee Nmotchka Malkant Naypal (DIN: 00031983), Whole: Director, as the Executive Chairman wie. 19th November, 2019, considering her expertise in the acea of Financial Management, hee business foresight and her rich, Company for over 20 years, hime long-term association with the

1. The shareholding of J. B. Advani & Company Private Limited in ¹⁹⁰⁸ "entures Private Limited has changed feom 57.01% to 33. 26%, 7. Kexcludes geatuuty and compensated absences

Provided on the basis of actuarial valation on an overall company bi * Amounts below Rs 0.50 lakh have been rounded off

(This spac = éntentianally left lanky