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MAHINDRA EPC IRRIGATION LIMITED — Interim / Quarterly Report 2021
Jun 1, 2021
60686_rns_2021-06-01_a41f3ed2-a3a3-4f5a-baeb-077146320228.pdf
Interim / Quarterly Report
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Date: 1[st] June, 2021
To, To, The General Manager, The General Manager, National Stock Exchange of India Limited Bombay Stock Exchange Limited, Exchange Plaza, C-I Block G, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Bandra (East), Dalal Street, Kala Ghoda, Mumbai 400051 Fort, Mumbai- 400 001 NSE Symbol: MAHEPC BSE Scrip Code: 523754
Sub: Intimation pursuant to Regulation 23(9) of SEBI (Listing Obligations and - Disclosure Requirements) Regulations, 2015 Disclosure of Related Party Transactions
Dear Sir/ Madam,
In terms of Regulation 23(9) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing the disclosure on Related Party Transactions, on Standalone and Consolidated basis, for the half year ended 31[st] March, 2021, drawn in accordance with applicable accounting standards.
This intimation is also being uploaded on the Company’s website at www.mahindrairrigation.com
You are requested to take the above information on record.
Thanking you.
Yours faithfully,
For Mahindra EPC Irrigation Limited
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Ratnakar Nawghare Company Secretary and Compliance Officer
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MAHINDRA EPC IRRIGATION LIMITED (Formerly known as EPC INDUSTRIÉ LIMITED)
Notes to the Stanalone financial statements for the Six Months ended on 31st March, 2021
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Name of the parent Company Relationship Mahindra and Mahindra Ltd Parent Company Other related parties with whom transaction have been undertaken Mahindra Logistics Ltd Fellow subsidiary Mahindra Agri Solutions Ltd Fellow subsidiary Mahindra Lifespace Developers Ltd Fellow subsidiary Mahindra Integrated Business Solutions Pvt Ltd Fellow subsidiary Mahindra and Mahindra Ltd -Swaraj Fellow subsidiary Mahindra World City (Jaipur) Limited Joint Venture of Parent Mahindra Top Greenhouses Private Limited Joint Venture Mahindra HZPC Pvt Ltd Fellow subsidiary Mahindra Summit Agriscience Limited Joint Venture Marvel Solren Pvt Ltd Joint Venture Mr. Ashok Sharma Key Management Personnel (Managing Director) Mr. Abhijit Page Key Management Personnel (Chief Executive Officer) w.e.f. 2nd April, 2020 Ms. Sunetra Ganesan Key Management Personnel (Chief Financial Officer) Mr. Sanjeev Mohoni Key Management Personnel (Chief Executive Officer) upto 1st April, 2020
Details of transaction between the Company and its related parties are disclosed below:
| Nature of transactions with Related Parties | For the Six Months ended 31st March, 2021 |
|---|---|
| Sale of goods Mahindra World City Jaipur Limited Mahindra and Mahindra Ltd -Swaraj Mahindra Top Greenhouses Private Limited Mahindra HZPC Pvt Ltd |
0.50 - 9.33 37.28 - |
| Purchase of Goods /Services /Cars Mahindra & Mahindra Ltd. Mahindra Top Greenhouses Private Limited Mahindra Summit Agriscience Limited Marvel Solren Pvt Ltd Mahindra Agri Solutions Ltd |
- 25.18 - 5.46 6.24 12.74 - |
| Investment in Equity Shares of Joint Venture Mahindra Top Greenhouses Private Limited |
- - |
| Interest on Inter Corporate Deposits Mahindra and Mahindra Ltd |
- - |
| Remuneration Mr. Ashok Sharma Mr. Sanjeev Mohoni Mr. Abhijit Page Ms. Sunetra Ganesan |
- 12.00 - 41.77 25.01 |
| Management contract fees expenses (Including for deputation of personnel) Mahindra and Mahindra Limited Mahindra Logistics Limited |
- 16.09 2.22 |
| Management contract fees income from (Including for deputation of personnel) Mahindra Top Greenhouses Private Limited |
- 44.17 |
| Travelling Expense Mahindra and Mahindra Limited |
- - |
| Business Support Services from Mahindra Agri Solutions Ltd Debit Note Received Credit Note Received |
- 4.58 15.87 |
| Reimbursement of Expenses to Mahindra and Mahindra Limited |
- 3.41 |
| Reimbursement of Expenses from Mahindra Top Greenhouses Private Limited Mahindra and Mahindra Limited -Transfer of employees Mahindra Agri Solutions Ltd- Transfer of employee |
- 4.70 61.71 22.08 |
| Professional Fees- Mahindra and Mahindra Limited Mahindra Integrated Business Solutions Pvt Ltd |
- 83.07 1.35 |
| Nature of Balances with Related Parties | As at 31st March 2021 |
| Trade payables Mahindra and Mahindra Limited Mahindra Integrated Business Solutions Pvt Ltd MAHINDRA SUMMIT AGRISCIENCE LIMITED MARVEL SOLREN PVT LTD Mahindra Logistics Limited |
52.41 0.28 0.66 2.07 1.30 - |
| Trade Receivables Mahindra Agri Solutions Ltd Mahindra Lifespace Developers Ltd Mahindra World City (Jaipur) Limited Mahindra TopGreenhouses Private Limited |
- 16.44 2.68 15.15 54.78 |
| Investments Investment in Joint Venture - Mahindra TopGreenhouses Private Limited |
- 180.00 |
Compensation of key managerial personnel
The remuneration of directors and other members of key managerial personnel during the year was as follows:
| Particulars | Six Months ended 31st March, 2021 | Six Months ended 31st March, 2021 | Six Months ended 31st March, 2021 | Six Months ended 31st March, 2021 |
|---|---|---|---|---|
| Directors | Managing Director |
Chief Executive Officer |
Chief Financial Officer |
|
| Remuneration Fees for attending board committee meetings Commission to independent directors Legal Services Share-based payment |
- | 12.00 | 41.77 | 25.01 |
| 3.70 | - | - | - | |
| 7.50 | - | - | - | |
| - | - | - | ||
| - | - | - | - |
The remuneration of directors and key executives is determined by the remuneration committee having regard to the performance of individuals and market trends. Post employment benefits accounted as per actuarial valuation.
MAHINDRA EPC IRRIGATION LIMITED (Formerly known as EPC INDUSTRIÉ LIMITED)
Notes to the Consolidated financial statements for the Six Months ended on 31st March, 2021
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Name of the parent Company Relationship Mahindra and Mahindra Ltd Parent Company Other related parties with whom transaction have been undertaken Mahindra Logistics Ltd Fellow subsidiary Mahindra Agri Solutions Ltd Fellow subsidiary Mahindra Lifespace Developers Ltd Fellow subsidiary Mahindra Integrated Business Solutions Pvt Ltd Fellow subsidiary Mahindra and Mahindra Ltd -Swaraj Fellow subsidiary Mahindra World City (Jaipur) Limited Joint Venture of Parent Mahindra Top Greenhouses Private Limited Joint Venture Mahindra HZPC Pvt Ltd Fellow subsidiary Mahindra Summit Agriscience Limited Joint Venture Marvel Solren Pvt Ltd Joint Venture Mr. Ashok Sharma Key Management Personnel (Managing Director) Mr. Abhijit Page Key Management Personnel (Chief Executive Officer) w.e.f. 2nd April, 2020 Ms. Sunetra Ganesan Key Management Personnel (Chief Financial Officer) Mr. Sanjeev Mohoni Key Management Personnel (Chief Executive Officer) upto 1st April, 2020
Details of transaction between the Company and its related parties are disclosed below:
| Nature of transactions with Related Parties | For the Six Months ended 31st March, 2021 |
|---|---|
| Sale of goods Mahindra World City Jaipur Limited Mahindra and Mahindra Ltd -Swaraj Mahindra Top Greenhouses Private Limited Mahindra HZPC Pvt Ltd |
0.50 - 9.33 37.28 - |
| Purchase of Goods /Services /Cars Mahindra & Mahindra Ltd. Mahindra Top Greenhouses Private Limited Mahindra Summit Agriscience Limited Marvel Solren Pvt Ltd Mahindra Agri Solutions Ltd |
- 25.18 - 5.46 6.24 12.74 - |
| Investment in Equity Shares of Joint Venture Mahindra Top Greenhouses Private Limited |
- - |
| Interest on Inter Corporate Deposits Mahindra and Mahindra Ltd |
- - |
| Remuneration Mr. Ashok Sharma Mr. Sanjeev Mohoni Mr. Abhijit Page Ms. Sunetra Ganesan |
- 12.00 - 41.77 25.01 |
| Management contract fees expenses (Including for deputation of personnel) Mahindra and Mahindra Limited Mahindra Logistics Limited |
- 16.09 2.22 |
| Management contract fees income from (Including for deputation of personnel) Mahindra Top Greenhouses Private Limited |
- 44.17 |
| Travelling Expense Mahindra and Mahindra Limited |
- - |
| Business Support Services from Mahindra Agri Solutions Ltd Debit Note Received Credit Note Received |
- 4.58 15.87 |
| Reimbursement of Expenses to Mahindra and Mahindra Limited |
- 3.41 |
| Reimbursement of Expenses from Mahindra Top Greenhouses Private Limited Mahindra and Mahindra Limited -Transfer of employees Mahindra Agri Solutions Ltd- Transfer of employee |
- 4.70 61.71 22.08 |
| Professional Fees- Mahindra and Mahindra Limited Mahindra Integrated Business Solutions Pvt Ltd |
- 83.07 1.35 |
| Nature of Balances with Related Parties | As at 31st March 2021 |
| Trade payables Mahindra and Mahindra Limited Mahindra Integrated Business Solutions Pvt Ltd MAHINDRA SUMMIT AGRISCIENCE LIMITED MARVEL SOLREN PVT LTD Mahindra Logistics Limited |
52.41 0.28 0.66 2.07 1.30 - |
| Trade Receivables Mahindra Agri Solutions Ltd Mahindra Lifespace Developers Ltd Mahindra World City (Jaipur) Limited Mahindra TopGreenhouses Private Limited |
- 16.44 2.68 15.15 54.78 |
| Investments Investment in Joint Venture - Mahindra TopGreenhouses Private Limited |
- 180.00 |
Compensation of key managerial personnel
The remuneration of directors and other members of key managerial personnel during the year was as follows:
| Particulars | Six Months ended 31st March, 2021 | Six Months ended 31st March, 2021 | Six Months ended 31st March, 2021 | Six Months ended 31st March, 2021 |
|---|---|---|---|---|
| Directors | Managing Director |
Chief Executive Officer |
Chief Financial Officer |
|
| Remuneration Fees for attending board committee meetings Commission to independent directors Legal Services Share-based payment |
- | 12.00 | 41.77 | 25.01 |
| 3.70 | - | - | - | |
| 7.50 | - | - | - | |
| - | - | - | ||
| - | - | - | - |
The remuneration of directors and key executives is determined by the remuneration committee having regard to the performance of individuals and market trends. Post employment benefits accounted as per actuarial valuation.