Polycab India Limited — Interim / Quarterly Report 2022

Nov 11, 2021

POLYCAB INDIA LIMITED

Polycab House, 771 Mogul Lane, Mahim (W), Mumbai – 400016 CIN: L31300GJ1996PLC114183 Tel : +91 22 2432 7070-74 Fax : +91 22 2432 7075 Email: shares@polycab.com Website: www.polycab.com

==> picture [109 x 78] intentionally omitted <==

Date: 10[th] November 2021

To To Department of Corporate Services Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Dalal Street C-1, G-Block, Bandra-Kurla Complex Mumbai – 400 001 Bandra (E), Mumbai – 400 051

Scrip Code: 542652 Scrip Symbol: Polycab ISIN:- INE455K01017

Dear Sir / Madam

Sub: Disclosure of Related Party Transactions for the half year ended 30[th] September 2021.

Pursuant to Regulation 23(9) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the disclosure of related party transactions on a Consolidated basis for the half year ended 30[th] September 2021.

Kindly take the same on your record.

Thanking you Yours Faithfully For Polycab India Limited

==> picture [76 x 64] intentionally omitted <==

Company Secretary and Compliance Officer Membership No.: A18321 Address: Polycab House, 771, Mogul Lane Mahim (West), Mumbai - 400 016

==> picture [51 x 46] intentionally omitted <==

Registered Office: Unit No.4, Plot No.105, Halol Vadodara Road, Village Nurpura, Taluka Halol, Panchmahal, Gujarat-389350 Tel : 2676- 227600 / 227700

Notes to Unaudited Interim Condensed Consolidated Financial Statements for the period ended 30 September 2021

Polycab India Limited

17. Related party disclosure

==> picture [45 x 25] intentionally omitted <==

The transactions with related parties are made on terms equivalent to those that prevail in arm's length transactions. Outstanding balances at the periodend are unsecured and settlement occurs in cash or credit as per the terms of the arrangement.

(A) Enterprises where control exists

(A) Enterprises where control exists	Enterprises where control exists
(i) Joint Ventures Techno Electromech Private Limited(TEPL) India (B) Enterprises owned or significantly influenced by key managerialpersonnel AK Enterprises(A K) Dowells Elektro Werke(DEW) Dowells Electricals(DE) D J Electricals Private Limited(DJEPL) Tirupati Tradelinks Private Limited(TTPL) Polycab Social Welfare Foundation EPMR Australia PtyLtd Transigo Fleet LLP T.P. Ostwal & Associates LLP Country of incorporation	Country of	Ownership interest (%)
	incorporation	#REF!	31 Mar 21
	(i) Joint Ventures
	Techno Electromech Private Limited(TEPL) India	50%	50%
	AK Enterprises(A K)
	Dowells Elektro Werke(DEW)
	Dowells Electricals(DE)
	D J Electricals Private Limited(DJEPL)
	Tirupati Tradelinks Private Limited(TTPL)
	Polycab Social Welfare Foundation
	EPMR Australia PtyLtd
	Transigo Fleet LLP
	T.P. Ostwal & Associates LLP

(C) Key management personnel

**(i) **	Executive directors
	Mr. Inder T. Jaisinghani	Chairman and managingDirector
	Mr. Ramesh T. Jaisinghani(c)	Whole-time director(upto 12 May2021)
	Mr. Ajay T. Jaisinghani(c)	Whole-time director(upto 12 May2021)
	Mr.Shyam Lal Bajaj(a) (c)	Whole time director(upto 12 May2021)
	Mr. Rakesh Talati(d)	Whole-time director(w.e.f. 13 May2021)
	Mr. Bharat A. Jaisinghani(d)	Whole-time director(w.e.f. 13 May2021)
**(ii) **	Mr. Nikhil R. Jaisinghani(d) Non- Executive directors	Whole-time director(w.e.f. 13 May 2021)
	Mr. R S Sharma	Independent director
	Mr. T P Ostwal	Independent director
	Mr. PradeepPoddar	Independent director
	Ms. Hiroo Mirchandani	Independent director(upto 12 May2021)
	Ms. Sutapa Benerjee	Independent director(w.e.f. 13 May2021)
**(iii) **	Key managementpersonnel
	Mr. Gandharv Tongia	Chief financial officer(w.e.f. 31 May2020)
	Mr.SubramaniamSai Narayana(b)	Companysecretaryand compliance officer(upto 23 Jan 2021)
**(iv) **	Ms. Manita Gonsalves	Companysecretaryand compliance officer (w.e.f. 24 Jan 2021)
	Relatives of Key managementpersonnel
	Mr. Girdhari T. Jaisinghani	Brother of Mr. Inder T. Jaisinghani,Mr. AjayT. Jaisinghani & Mr. Ramesh T. Jaisinghani
	Mr. Kunal I. Jaisinghani	Son of Mr. Inder T. Jaisinghani
	Ms. Ritika Nikhil Jaisinghani	Wife of Mr. Nikhil R. Jaisinghani
	Mr. Puneet Sehgal	Son in law of Ramesh T. Jaisinghani

(a)

Mr. Shyam Lal Bajaj resigned from CFO position w.e.f. closing business hours 30 May 2020 and continued as a whole time director till 12 May 2021.

(b) Mr. Subramaniam Sai Narayana resigned from Company secretary and compliance officer position w.e.f. 23 January 2021.

(c) Resigned from Whole-time director position w.e.f. closing business hours 12 May 2021.

(d) Appointed as Whole-time director w.e.f. 13 May 2021.

Polycab India Limited

Notes to Unaudited Interim Condensed Consolidated Financial Statements for the period ended 30 September 2021

==> picture [33 x 19] intentionally omitted <==

(D) **(E) **	Transactions with group companies	Transactions with group companies	Transactions with group companies	(₹ million)	(₹ million)
		Three months period ended 30 Sep21	Three months period ended 30 Sep 20	Six months period ended Six months period ended 30 Sep21 30 Sep20
	(i) Sale ofgoods(including GST)
	Techno Electromech Private Limited Joint Venture	15.88	9.29	24.46	11.41
	Tirupati Tradelinks Private Limited (TTPL) Enterprises owned or significantly influenced by key managerial personnel	0.19	-	0.19	-
	(ii) Purchase ofgoods(including GST)
	Techno Electromech Private Limited Joint Venture	193.98	138.31	358.02	184.16
	Tirupati Tradelinks Private Limited (TTPL) Enterprises owned or significantly influenced by key managerial personnel	49.87	22.14	88.55	32.92
	(iii) Sub-contracting expense(including GST)
	Techno Electromech Private Limited Joint Venture	6.79	7.06	11.79	15.02
	Ryker Base Private Limited(upto 5 May2020) JointVenture	-	-	-	1.34
	Tirupati Tradelinks Private Limited (TTPL) Enterprises owned or significantly influenced by key managerial personnel	0.16	0.58	0.28	0.64
	(iv) Rent received
	Ryker Base Private Limited(upto 5 May2020) JointVenture	-	-	-	0.05
	(v) Interest received
	Techno Electromech Private Limited Joint Venture	3.24	3.48	6.67	6.93
	(vi) Testing chargespaid(including GST)
	Techno Electromech Private Limited Joint Venture	0.29	8.93	0.33	8.93
	(vii) Sale of Fixed Assets(including GST)
	Techno Electromech Private Limited Joint Venture	-	7.95	-	34.81
	(viii) Loangiven repaid
	Techno Electromech Private Limited Joint Venture	5.30	-	10.51	-
	(ix) Commissionpaid
	EPMR Australia Pty Ltd Enterprises owned or significantly influenced by key managerial personnel	2.23	-	2.83	-
	(x) Reimbursement of Electricity Expense
	AK Enterprises Enterprises owned or significantly influenced by key managerial personnel	0.64	-	0.64	-
	(xi) Rentpaid(including GST)
	AK Enterprises Enterprises owned or significantly influenced by key managerial personnel	7.66	7.29	14.59	7.29
	Outstanding as at:			(₹ million)
				30 Sep21	31 Mar 21
	(i) Loans
	Techno Electromech Private Limited Joint Venture			104.70	115.21
	(ii) Trade Receivables
	Techno Electromech Private Limited Joint Venture			31.23	23.61
	Tirupati Tradelinks Private Limited (TTPL) Enterprises owned or significantly influenced by key managerial personnel			0.19	-
	(iii) Other Receivables
	Techno Electromech Private Limited Joint Venture			85.19	85.19
	(vi) Interest accrued on loangiven
	Techno Electromech Private Limited Joint Venture			2.95	3.18
	(v) Trade Payables
	Techno Electromech Private Limited Joint Venture			56.00	71.30
	Dowells Electricals(DE) Dowells Elektro Werke(DEW) D J Electricals Private Limited(DJEPL) Tirupati Tradelinks Private Limited(TTPL) Enterprises owned or significantly influenced by key managerial personnel			0.08	0.08
				-	0.34
				0.20	0.20
				49.28	40.89
	(vi) Commission Payable
	EPMR Australia Pty Ltd Enterprises owned or significantly influenced by key managerial personnel			2.58	10.57
	(vii) Security Depositsgiven
	AK Enterprises Enterprises owned or significantly influenced by key managerial personnel			6.17	5.91

Notes to Unaudited Interim Condensed Consolidated Financial Statements for the period ended 30 September 2021

==> picture [33 x 19] intentionally omitted <==

(F) Trans (i)	actions with KMP: Remuneration paid for the period ended and outstanding as at: (a)	(₹ million)	(₹ million)	(₹ million)	(₹ million)
		31 Mar 21 30 Sep 21 30 Sep 20
		Three months period ended Six months period ended Outstanding as at Three months period ended		Six months period ended	Outstanding as at
	Executive directors(Includes Salary, Performance Incentive and commis	sion to CMD)
	Mr. Inder T.Jaisinghani	33.86 58.63 37.13	31.76 53.34 99.05
	Mr. Ramesh T.Jaisinghani	0.03 3.76 -	8.08 14.28 7.50
	Mr. AjayT.Jaisinghani	0.03 3.76 -	8.08 14.28 7.50
	Mr. BharatA.Jaisinghani	4.86 7.92 1.68	- - -
	Mr. Nikhil R.Jaisinghani	4.86 7.92 1.68	- - -
	Mr. Rakesh Talati	4.56 7.01 1.31	- - -
	Mr.Shyam Lal Bajaj	- 3.25 0.72	7.04 12.54 6.17
	Non- Executive directors(Includes sitting fees and commission)
	Mr. T P Ostwal	0.78 1.54 1.00	0.76 1.70 2.00
	Mr. R S Sharma	0.78 1.54 1.00	0.76 1.70 2.00
	Mr. PradeepPoddar	0.86 1.70 1.00	0.76 1.62 2.00
	Ms. Hiroo Mirchandani	- - -	0.76 1.54 2.00
	Ms. Sutapa Benerjee	0.78 1.38 1.00	- - -
	Key managementpersonnel(Includes Salary and Performance Incentive)
	Mr. Gandharv Tongia	5.34 10.69 1.89	4.93 5.99 1.67
	Ms. Manita Gonsalves	0.83 1.62 0.12	- - 0.22
	Mr. Subramaniam Sai Narayana	- - -	0.74 1.41 -

(a) As the liabilities for gratuity and leave encashment are provided on actuarial basis for the Group as a whole, the amounts pertaining to the directors and KMP are not included above.

**(G) **	(ii) (iii) (iv) Trans Remu	Share based payments to KMP(a)	Share based payments to KMP(a)				(₹ million)
				Three months period ended 30 Sep21	Three months period ended 30 Sep20	Six months period ended 30 Sep21	Six months period ended 30 Sep20
		Mr.Shyam Lal Bajaj		-	3.61	0.55	5.28
		Mr.Gandharv Tongia		1.50	1.62	2.03	1.88
		Mr. Rakesh Talati		1.50	-	1.78	-
		Mr.SubramaniamSai Narayana		-	0.36	-	0.53
		Sale of fixed assets to KMP (Including GST) (a)Represents expense by way of share based payments attributable to directors and KMP					(₹ million)
		Three months period ended Six months period ended 30 Sep 21		Outstanding as at Three months period ended Six months period ended 30 Sep 20			31 Mar 21 Outstanding as at
		Mr. Inder T.Jaisinghani	2.63 2.63	-	- -		-
		Mr. Ramesh T.Jaisinghani	- -	-	- -		1.35
		Mr. AjayT.Jaisinghani	3.18 3.18	-	- -		0.17
		Mr. BharatA.Jaisinghani	1.14 1.14	-	- -		-
		Mr.Girdhari T.Jaisinghani	2.23 2.23	-	- -		-
		Ms. RitikaNikhilJaisinghani	4.08 4.08	-	- -		-
		Mr. Puneet Sehgal	- -	-	- -		0.55
		Transactions where KMP's are interested					(₹ million)
		Three months period ended Six months period ended Nature of transaction 30 Sep 21		Outstanding as at Three months period ended Six months period ended 30 Sep 20			31 Mar 21 Outstanding as at
		Polycab Social Welfare Foundation Donation	51.00 102.00	59.83	- 39.73		-
		Transigo Fleet LLP Professional fees	5.76 5.76	5.76	- -		-
		T.P. Ostwal & Associates LLP (excluding GST) Professional fees for tax advisory	- 0.14	-	0.12 0.77		0.16
		actions with relatives of KMP: nerationpaid for theperiod ended and outstanding as at:					(₹ million)
		Three months period ended Six months period ended 30 Sep 21		Outstanding as at Three months period ended Six months period ended 30 Sep 20			31 Mar 21 Outstanding as at
	Mr. B	haratA.Jaisinghani	- 0.84	-	3.32 5.89		2.98
	Mr. N	ikhil R.Jaisinghani	- 0.84	-	3.32 5.89		2.98
	Mr.G	irdhari T.Jaisinghani	- -	-	1.01 2.78		2.18
	Mr. K	unal I. Jaisinghani	- 0.65	0.28	0.60 1.21		0.01