Hikal Ltd. — Annual Report 2021

Jun 4, 2021

Hikal Limited

(Currency : Indian Rupees in millions)

Related party disclosures

The note provides the information about the Company’s structure including the details of the subsidiaries and the holding company. The following table provides the total amount of transactions that have been entered into with related parties for the relevant financial year:

i) List of Related parties Subsidiaries

Name of the related party	RelationshipCountry of	Ownership interest	Ownership interest
	incorporation	31 March 2021	31 March 2020
Acoris Research Limited ("ARL")	SubsidiaryIndia	100%	100%
Other related parties
Relationship	Name of the related	party
a) Company/ enterprises exercising significant influence through	Kalyani Investment Company Limited ("KICL")
voting power (‘significant shareholder’)
b) Key Management Personnel (KMP)	Jai Hiremath (Chairman and Managing Director)
	Sameer Hiremath (Joint Managing Director and CEO)
	Sham Wahalekar (CFO) (Upto 4 November 2020 )
	Kuldeep Jain (CFO) (w.e.f. 5 November 2020)
c) Enterprises owned or controlled	Decent Electronics Private Limited ("DEPL")
or significantly influenced by key	Marigold Investments Private Limited ("MIPL")
management personnel or their	Iris Investments Private Limited ("IIPL")
relatives	Karad Engineering Consultancy Private Limited ("KECPL")
	Ekdant Investments Private Limited ("EIPL")
	Shri Rameswara Investment Private Limited ("SRIPL")
	Shri Badrinath Investment Private Limited ("SBIPL")
	Rushabh Capital Services Private Limited ( "RCSPL")
d) Relatives of Key Management	Sugandha Hiremath
Personnel
e) Non-executive directors	Baba Kalyani
	Amit Kalyani
	K.K. Unni
	Prakash Mehta
	S. M. Kheny (Upto 4 February 2021)
	Wolfang Welter (Upto 30 September 2019)
	Ranjeet Shahani
	Mrs Shivani Bhasin Sachdeva (w.e.f.1 August 2019)
	Ravindra Kumar Goyal (w.e.f.4 February 2021)

Hikal Limited

(Currency : Indian Rupees in millions)

Related party disclosures (Continued)

ii) Details of transactions with related parties

Particulars	Transaction value
	1st Oct to
	31 March 2021
Remuneration
Jai Hiremath	23.55
Sameer Hiremath	13.64
Sham Wahalekar	2.85
Kuldeep Jain	3.78
Commission paid
Jai Hiremath	21.45
Sameer Hiremath	21.45
Sitting fees
Sugandha Hiremath	0.50
Baba Kalyani	0.20
Amit Kalyani	0.20
K.K. Unni	0.70
Prakash Mehta	0.70
S. M. Kheny	0.40
Wolfang Welter	-
Ranjeet Shahani	0.20
Shivani Bhasin Sachdeva	0.20
Ravindra Kumar Goyal	0.10
Commission to Independent Directors
Sugandha Hiremath	1.30
Baba Kalyani	1.30
Amit Kalyani	1.30
K.K. Unni	1.30
Prakash Mehta	1.30
S. M. Kheny	-
Ranjeet Shahani	1.30
Shivani Bhasin Sachdeva	1.30
Ravindra Kumar Goyal	1.30
Dividend paid
SBIPL	19.92
SRIPL	9.81
DEPL	0.05
EIPL	0.39
KECPL	0.07
KICL	38.67
Sugandha Hiremath	9.67
Jai Hiremath	1.34
Sameer Hiremath	0.39
Sham Wahalekar	0.02
Lease rent paid
RCSPL	0.54
Sugandha Hiremath	1.20
Jai Hiremath	0.15