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United Breweries Ltd. — Interim / Quarterly Report 2021
May 5, 2021
61982_rns_2021-05-05_722ae74d-5c4b-478f-a33b-8e8693fd3665.pdf
Interim / Quarterly Report
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May 05, 2021
- The Secretary-Listing Department 2. The Manager-Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, 5[th] Floor, Plot C/1, ‘G’ Block Dalal Street, Fort Bandra-Kurla Complex, Bandra (East) Mumbai – 400 023 Mumbai – 400 051 Scrip Code: 532478 Symbol: UBL
Dear Sir,
Sub: Disclosure of Related Party Transactions on a Consolidated basis
Pursuant to Regulation 23(9) of the Securities and Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulations, 2015, we are submitting herewith a disclosure of related party transactions on a consolidated basis, in the format specified in the relevant accounting standards for the period October 01, 2020 to March 31, 2021.
Kindly take a note of the same.
Thanking You,
Yours faithfully, For UNITED BREWERIES LIMITED
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GOVIND IYENGAR
Senior Vice President – Legal & Company Secretary
Encl: As above
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Notes to standalone Ind AS financial statements for the year ended March 31, 2021 (All amounts in Indian Rupees Lakhs, except as otherwise stated)
United Breweries Limited
38. Related party disclosures
A. Name of related parties and related party relationships Related parties under Ind AS 24 with whom transactions have taken place:
| Associate | : | Kingfisher East Bengal Football Team Private Limited ('KEBFTPL') |
|---|---|---|
| Enterprises having significant influen: | Scottish & Newcastle India Limited, UK ('SNIL') | |
| Key management personnel (KMP) | : | Mr. Shekhar Ramamurthy, Managing Director (till July 31, 2020) |
| Mr. Rishi Pardal, Managing Director (effective August 01,2020) | ||
| Mr. Berend Cornelis Roelof Odink, Chief Financial Officer (effective August 15, 2019) | ||
| Mr. P A Poonacha, Senior Vice-President Finance & Accounts - CFO (till August 14, 2019) | ||
| Mr. B.M. Labroo, CEO, Director of Subsidiary company | ||
| Ms. Loveleena Labroo, Director of Subsidiary company | ||
| Mr. Rohtash Kumar Jindal, Director of Subsidiary company (till March 19, 2021) | ||
| Enterprises over which investing | : | Heineken UK Limited ('HUL'), holding company of SNIL |
| parties or KMP have significant | Heineken International B.V. ('HIBV') | |
| Heineken Brouwerijen B.V. ('HBBV') | ||
| Heineken Supply Chain B.V. ('HSCBV') | ||
| Heineken Asia Pacific Pte. Ltd. ('HAPPL') | ||
| Heineken Asia Pacific Export Pte. Ltd. ('HAPEP') | ||
| Heineken Asia Pacific Beverages Pte. Ltd. ('HAPBPL') | ||
| Amstel Brouwerijen B.V. ('Amstel') | ||
| DB Breweries Limited ('DBL') | ||
| DBG (Australia) Pty Limtied ('DBG') | ||
| Kingfisher Beer Europe Limited ('KBE') | ||
| Asia Pacific Breweries (Singapore) Pte. Ltd.(APBS) | ||
| Sirocco Fz Co (SIRC) | ||
| North West Distillaries Private Limited (NWDPL) | ||
| Employee benefits trusts | : | UBL Gratuity Fund Trust |
| United Breweries Limited Provident Fund Trust ( "UBL Provident Fund Trust") | ||
| United Breweries Superannuation Fund ("UBL Superannuation Fund") | ||
| Additional related parties as per the | Companies | Act, 2013 with whom transactions have taken place: |
| Directors | : | Mr. A K Ravi Nedungadi |
| Mr. Stephan Gerlich | ||
| Mrs. Kiran Majumdar Shaw | ||
| Mr. Madhav Bhatkuly | ||
| Mr. Sunil Alagh | ||
| Mr. Christiaan August J Van Steenbergen | ||
| Mr. Rudolf Gijsbert Servaas Van Den Brink (till May 31, 2020) | ||
| Mr. Chugh Yoginder Pal (till September 3, 2019) | ||
| Mr. Chhaganlal Jain (till September 3, 2019) | ||
| Mr. Jan Cornelis Van Der Linden (effective June 01, 2020) |
The Securities and Exchange Board of India vide its order dated January 25, 2017 restrained Dr. Vijay Mallya from holding position as Director or Key Managerial Person of any listed company. Pursuant to the decision of the Board at its meeting held on July 4, 2017, the Company had communicated on July 6, 2017 to Dr. Mallya and his associate companies (promoters of the Company) to nominate a director on the Board in his place in terms of the Articles of Association of the Company. Further, pursuant to the decision of the Board at its meeting held on August 10, 2017, the Company carried out necessary filings with the Registrar of Companies, Karnataka (ROC) and Stock Exchanges notifying Dr. Mallya’s cessation from holding the position of director in the Company. The applicable form relating to cessation of directorship has since been approved by the ROC.
Key management personnel (KMP): : Mr. Govind Iyengar, Senior Vice-President Legal and Company Secretary Body corporate/Private companies : United Breweries (Holdings) Limited ('UBHL')* whose Board of directors is H. Parson Private Limited ('HPPL') accustomed to act in accordance with advise, directions or
*The Karnataka High Court has ordered winding up of UBHL on February 7, 2017. The Supreme Court on October 2, 2020 had also allowed the winding-up of UBHL. However, UBL has not received any confirmation from UBHL in terms of Supreme Court order of Winding-up.
United Breweries Limited
Notes to standalone Ind AS financial statements for the year ended March 31, 2021 (All amounts in Indian Rupees Lakhs, except as otherwise stated)
B. Transactions with related parties during the year along with balances as at year end:
| Associate Enterprises having significant influence Directors, KMP & their relatives Enterprises over which investing parties or KMP have significant influence Others |
|
|---|---|
| March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 |
|
| Transactions during the year Sale of products (net) HPPL SIRC APBS Royalty income KBE DBL DBG APBS Purchase of materials HAPEP HAPBPL HSCBV Sales promotion expenses HPPL Rent expense UBHL Technical service fees HIBV Royalty paid HBBV Amstel Consultancy fees paid HSCBV KBE HIBV Reimbursements received HAPEP UBHL HAPPL Reimbursements paid HIBV HPPL HAPBPL |
- - - - - - - - 2,788 4,847 - - - - - - 5,401 - - - - - - - - - 331 - - - |
| - - - - - - 5,732 - 2,788 4,847 |
|
| - - - - - - 43 83 - - - - - - - - 451 53 - - - - - - - - 114 10 - - - - - - - - 613 - - - |
|
| - - - - - - 1,221 146 - - |
|
| - - - - - - 127 867 - - - - - - - - 727 23 - - - - - - - - 18 6 - - |
|
| - - - - - - 872 896 - - |
|
| - - - - - - - - 5 15 | |
| - - - - - - - - 5 15 | |
| - - - - - - - - 101 96 | |
| - - - - - - - - 101 96 | |
| - - - - - - 600 600 - - |
|
| - - - - - - 600 600 - - |
|
| - - - - - - 278 558 - - - - - - - - 177 267 - - |
|
| - - - - - - 455 825 - - |
|
| - - - - - - 137 137 - - - - - - - - 25 28 - - - - - - - - 25 14 - - |
|
| - - - - - - 187 179 - - |
|
| - - - - - - 16 4 - - - - - - - - - - - 18 - - - - - - 60 - - - |
|
| - - - - - - 76 4 - 18 |
|
| - - - - - - 319 234 - - - - - - - - - - 55 54 - - - - - - 1 - ` - |
|
| - - - - - - 320 234 55 54 |
United Breweries Limited
Notes to standalone Ind AS financial statements for the year ended March 31, 2021 (All amounts in Indian Rupees Lakhs, except as otherwise stated)
| Others Associate Enterprises having significant influence Directors, KMP & their relatives Enterprises over which investing parties or KMP have significant influence |
|
|---|---|
| March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 |
|
| Remuneration paid [Refer (b) below] Mr. Shekhar Ramamurthy Mr. Rishi Pardal Mr. Berend Cornelis Roelof Odink Mr. Govind Iyengar Mr. P A Poonacha Mr. B.M.Labroo Ms. Kanta Labroo Sitting fee paid Mr. A K Ravi Nedungadi Mr. Stephan Gerlich Mrs. Kiran Majumdar Shaw Mr. Madhav Bhatkuly Mr. Sunil Alagh Mr. Christiaan August J Van Steenbergen Mr. Rudolf Gijsbert Servaas Van Den Brink Mr. Chugh Yoginder Pal Mr. Chhaganlal Jain Mr. Jan Cornelis Van Der Linden Director Commission paid Mr. A K Ravi Nedungadi Mr. Stephan Gerlich Mrs. Kiran Majumdar Shaw Mr. Madhav Bhatkuly Mr. Sunil Alagh Mr. Chugh Yoginder Pal Mr. Chhaganlal Jain Dividend accrued/paid on equity sh SNIL HIBV HUL Dr. Vijay Mallya (including joint holdings) [Refer (c) below] UBHL [Refer (c) below] Purchase of Investments UBL Provident Fund Trust Contributions made UBL Gratuity Fund Trust UBL Provident Fund Trust* UBL Superannuation Fund |
- - - - 931 1,422 - - - - 478 - - - - - 451 379 - - - - - - - - 258 261 - - - - - - - - - 87 - - - - - - - - 17 - - - - - - - - - - 36 - - - - |
| - - - - 2,135 2,185 - - - - |
|
| - - - - 16 16 - - - - - - - - 13 12 - - - - - - - - 15 11 - - - - - - - - 23 16 - - - - - - - - 26 21 - - - - - - - - 15 12 - - - - - - - - - 11 - - - - - - - - - 10 - - - - - - - - - 14 - - - - - - - - 16 - - - - - |
|
| - - - - 124 123 - - - - |
|
| - - - - 57 87 - - - - - - - - 57 87 - - - - - - - - 57 87 - - - - - - - - 57 87 - - - - - - - - 57 87 - - - - - - - - - 30 - - - - - - - - - 30 - - - - |
|
| - - - - 285 495 - - - - |
|
| ares - - 2,250 2,250 - - - - - - - - - - - - 613 613 - - - - - - - - 212 212 - - - - - - - - - - 534 534 - - - - - - - - - - |
|
| - - 2,250 2,250 - - 825 825 534 534 |
|
| - - - - - - - - 300 - |
|
| - - - - - - - - 300 - |
|
| - - - - - - - - - 1,000 - - - - - - - - 2,946 2,817 - - - - - - - - 669 670 |
|
| - - - - - - - - 3,615 4,487 |
| March 31, | March 31, | |
|---|---|---|
| 2021 | 2020 | |
| Compensation of key management personnel [Refer (b) below] | ||
| Short-term employee benefits | 2,135 | 2,185 |
| Post-employment gratuity and medical benefits | 1,277 | - |
| Termination benefits | - | - |
| Share-based payment transactions | - | - |
| Total compensation paid to key management personnel | 3,412 | 2,185 |
*Excludes Goods and Services Tax (GST) paid by the Company under reverse charge mechanism.
**Includes both employer and employee contributions to the fund.
United Breweries Limited
Notes to standalone Ind AS financial statements for the year ended March 31, 2021 (All amounts in Indian Rupees Lakhs, except as otherwise stated)
| Associate Enterprises having significant influence Directors, KMP & their relatives Enterprises over which investing parties or KMP have significant influence Others |
|
|---|---|
| March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 |
|
| Balances outstanding as at year en Investment in equity shares KEBFTPL Trade receivables (gross) DBL KBE DBG HPPL APBS SIRC Advance received from customer HPPL Security deposits (asset) UBHL Trade payables HIBV HAPEP HBBV Amstel HAPBPL HSCBV KBE UBHL |
d 1 1 - - - - - - - - |
| 1 1 - - - - - - - - |
|
| - - - - - - 141 53 - - - - - - - - 6 15 - - - - - - - - 49 10 - - - - - - - - - - 9 - - - - - - - 297 - - - - - - - - - 522 - - - |
|
| - - - - - - 1,015 78 9 - |
|
| - - - - - - - - - 273 | |
| - - - - - - - - - 273 | |
| - - - - - - - - 65 65 | |
| - - - - - - - - 65 65 | |
| - - - - - - 629 491 - - - - - - - - - 365 - - - - - - - - 124 239 - - - - - - - - 66 93 - - - - - - - - 13 23 - - - - - - - - 30 16 - - - - - - - - - 19 - - - - - - - - - - 209 201 |
|
| - - - - - - 862 1,246 209 201 |
(a) The remuneration to key managerial personnel includes reimbursements and excludes the provisions made for gratuity and compensated absences, as they are determined on an actuarial basis. Also, for Mr.Rishi Pardal, the remuneration disclosed is for the period he was designated as Managing Director.
(c) The Holdign Company had received an order dated September 30, 2015 from the Debt Recovery Tribunal, Karnataka, Bangalore (DRT) whereby the Holding Company has been directed not to pay/release amounts that may be payable with respect to shares in the Company held by an erstwhile director (including his joint holdings) and United Breweries (Holdings) Limited,and also with respect to shares in the company held by Kamsco Industries pvt limited as per order dated January 09, 2019, without its prior permission. Accordingly, the Holding Company has withheld payment of Rs. 2,016 Lakhs (net of payment of Rs. 784 Lakhs to the official liquidator of United Breweries (Holdings) Limited and net of TDS as applicable) relating to dividend on aforesaid shares. The Holding Company would also withhold payment of proposed dividend for the year ended March 31, 2021 on aforesaid shares, which is subject to approval by the shareholders in the ensuing annual general meeting.
Further, the Holding Company had received various orders from tax and provident fund authorities prohibiting the Company from making any payments to an erstwhile director. The Holding Company has accordingly withheld payment of Rs. 45 Lakhs (net of TDS) relating to director commission and sitting fees payable to the aforesaid erstwhile director.
Terms and conditions of transactions with related parties: The transactions with related parties are made on terms equivalent to those prevailing in arm's length transaction. The outstanding receivables/payables balances are generally unsecured and interest free. There have been no guarantees provided to or received from any related party.
Notes to standalone Ind AS financial statements for the year ended March 31, 2021
United Breweries Limited
(All amounts in Indian Rupees Lakhs, except as otherwise stated)
38. Related party disclosures
A. Name of related parties and related party relationships
| Related party where control exists: | ||
|---|---|---|
| Subsidiary | : | Maltex Malsters Limited ('MML') |
| Related parties under Ind AS 24 with whom transactions have taken place: | ||
| Associate | : | Kingfisher East Bengal Football Team Private Limited ('KEBFTPL') |
| Enterprises having significant influence | : | Scottish & Newcastle India Limited, UK ('SNIL') |
| Key management personnel (KMP) | : | Mr. Shekhar Ramamurthy, Managing Director (till July 31, 2020) |
| Mr. Rishi Pardal, Managing Director (effective August 01,2020) | ||
| Mr. Berend Cornelis Roelof Odink, Chief Financial Officer (effective August 15, 2019) | ||
| Mr. P A Poonacha, Senior Vice-President Finance & Accounts - CFO (till August 14, 2019) | ||
| Enterprises over which investing parties or KMP have | : | Heineken UK Limited ('HUL'), holding company of SNIL |
| significant influence | Heineken International B.V. ('HIBV') | |
| Heineken Brouwerijen B.V. ('HBBV') | ||
| Heineken Supply Chain B.V. ('HSCBV') | ||
| Heineken Asia Pacific Pte. Ltd. ('HAPPL') | ||
| Heineken Asia Pacific Export Pte. Ltd. ('HAPEP') | ||
| Heineken Asia Pacific Beverages Pte. Ltd. ('HAPBPL') | ||
| Amstel Brouwerijen B.V. ('Amstel') | ||
| DB Breweries Limited ('DBL') | ||
| DBG (Australia) Pty Limtied ('DBG') | ||
| Kingfisher Beer Europe Limited ('KBE') | ||
| Asia Pacific Breweries (Singapore) Pte. Ltd.(APBS) | ||
| Sirocco Fz Co (SIRC) | ||
| Employee benefits trusts | : | UBL Gratuity Fund Trust |
| United Breweries Limited Provident Fund Trust ( "UBL Provident Fund Trust") | ||
| United Breweries Superannuation Fund ("UBL Superannuation Fund") | ||
| Additional related parties as per the Companies Act, 2013 with whom transactions have taken place: | ||
| Directors | : | Mr. A K Ravi Nedungadi |
| Mr. Stephan Gerlich | ||
| Mrs. Kiran Majumdar Shaw | ||
| Mr. Madhav Bhatkuly | ||
| Mr. Sunil Alagh | ||
| Mr. Christiaan August J Van Steenbergen | ||
| Mr. Rudolf Gijsbert Servaas Van Den Brink (till May 31, 2020) | ||
| Mr. Chugh Yoginder Pal (till September 3, 2019) | ||
| Mr. Chhaganlal Jain (till September 3, 2019) | ||
| Mr. Jan Cornelis Van Der Linden (effective June 01, 2020) |
The Securities and Exchange Board of India vide its order dated January 25, 2017 restrained Dr. Vijay Mallya from holding position as Director or Key Managerial Person of any listed company. Pursuant to the decision of the Board at its meeting held on July 4, 2017, the Company had communicated on July 6, 2017 to Dr. Mallya and his associate companies (promoters of the Company) to nominate a director on the Board in his place in terms of the Articles of Association of the Company. Further, pursuant to the decision of the Board at its meeting held on August 10, 2017, the Company carried out necessary filings with the Registrar of Companies, Karnataka (ROC) and Stock Exchanges notifying Dr. Mallya’s cessation from holding the position of director in the Company. The applicable form relating to cessation of directorship has since been approved by the ROC.
Key management personnel (KMP): : Body corporate/Private companies whose Board of directors : United Breweries (Holdings) Limited ('UBHL')* is accustomed to act in accordance with advise, directions or H. Parson Private Limited ('HPPL') instructions of directors/members (included in 'Others' below)
Mr. Govind Iyengar, Senior Vice-President Legal and Company Secretary
*The Karnataka High Court has ordered winding up of UBHL on February 7, 2017. The Supreme Court on October 2, 2020 had also allowed the winding-up of UBHL. However, UBL has not received any confirmation from UBHL in terms of Supreme Court order of Winding-up.
United Breweries Limited
Notes to standalone Ind AS financial statements for the year ended March 31, 2021 (All amounts in Indian Rupees Lakhs, except as otherwise stated)
B. Transactions with related parties during the year along with balances as at year end:
| Subsidiary Associate Enterprises having significant influence Directors, KMP & their relatives Enterprises over which investing parties or KMP have significant influence Others |
|
|---|---|
| March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 |
|
| Transactions during the year Sale of products (net) MML HPPL SIRC APBS Royalty income KBE DBL DBG APBS Purchase of materials HAPEP HAPBPL HSCBV MML Processing charges paid MML Sales promotion expenses HPPL Rent expense UBHL Technical service fees HIBV Royalty paid HBBV Amstel Consultancy fees paid HSCBV KBE HIBV Reimbursements received HAPEP UBHL HAPPL Reimbursements paid HIBV HPPL HAPBPL MML |
114 - - - - - - - - - - - - - - - - - - - - - 2,788 4,847 - - - - - - - - 5,401 - - - - - - - - - - - 331 - - - |
| 114 - - - - - - - 5,732 - 2,788 4,847 |
|
| - - - - - - - - 43 83 - - - - - - - - - - 451 53 - - - - - - - - - - 114 10 - - - - - - - - - - 613 - - - |
|
| - - - - - - - - 1,221 146 - - |
|
| - - - - - - - - 127 867 - - - - - - - - - - 727 23 - - - - - - - - - - 18 6 - - 115 - - - - - - - - - - - |
|
| 115 - - - - - - - 872 896 - - |
|
| 656 955 - - - - - - - - - - |
|
| 656 955 - - - - - - - - - - |
|
| - - - - - - - - - - 5 15 | |
| - - - - - - - - - - 5 15 | |
| - - - - - - - - - - 101 96 | |
| - - - - - - - - - - 101 96 | |
| - - - - - - - - 600 600 - - |
|
| - - - - - - - - 600 600 - - |
|
| - - - - - - - - 278 558 - - - - - - - - - - 177 267 - - |
|
| - - - - - - - - 455 825 - - |
|
| - - - - - - - - 137 137 - - - - - - - - - - 25 28 - - - - - - - - - - 25 14 - - |
|
| - - - - - - - - 187 179 - - |
|
| - - - - - - - - 16 4 - - - - - - - - - - - - - 18 - - - - - - - - 60 - - - |
|
| - - - - - - - - 76 4 - 18 |
|
| - - - - - - - - 319 234 - - - - - - - - - - - - 55 54 - - - - - - - - 1 - ` - 1 8 - - - - - - - - - - |
|
| 1 8 - - - - - - 320 234 55 54 |
United Breweries Limited
Notes to standalone Ind AS financial statements for the year ended March 31, 2021 (All amounts in Indian Rupees Lakhs, except as otherwise stated)
| Others Subsidiary Associate Enterprises having significant influence Directors, KMP & their relatives Enterprises over which investing parties or KMP have significant influence |
|
|---|---|
| March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 |
|
| Remuneration paid [Refer (b) below] Mr. Shekhar Ramamurthy Mr. Rishi Pardal Mr. Berend Cornelis Roelof Odink Mr. Govind Iyengar Mr. P A Poonacha Sitting fee paid Mr. A K Ravi Nedungadi Mr. Stephan Gerlich Mrs. Kiran Majumdar Shaw Mr. Madhav Bhatkuly Mr. Sunil Alagh Mr. Christiaan August J Van Steenbergen Mr. Rudolf Gijsbert Servaas Van Den Brink Mr. Chugh Yoginder Pal Mr. Chhaganlal Jain Mr. Jan Cornelis Van Der Linden Director Commission paid Mr. A K Ravi Nedungadi Mr. Stephan Gerlich Mrs. Kiran Majumdar Shaw Mr. Madhav Bhatkuly Mr. Sunil Alagh Mr. Chugh Yoginder Pal Mr. Chhaganlal Jain Dividend accrued/paid on equity sh SNIL HIBV HUL Dr. Vijay Mallya (including joint holdings) [Refer (c) below] UBHL [Refer (c) below] Dividend received MML Purchase of investments UBL Provident Fund Trust Contributions made UBL Gratuity Fund Trust UBL Provident Fund Trust* UBL Superannuation Fund |
- - - - - - 931 1,422 - - - - - - - - - - 478 - - - - - - - - - - - 451 379 - - - - - - - - - - 258 261 - - - - - - - - - - - 87 - - - - |
| - - - - - - 2,118 2,149 - - - - |
|
| - - - - - - 16 16 - - - - - - - - - - 13 12 - - - - - - - - - - 15 11 - - - - - - - - - - 23 16 - - - - - - - - - - 26 21 - - - - - - - - - - 15 12 - - - - - - - - - - - 11 - - - - - - - - - - - 10 - - - - - - - - - - - 14 - - - - - - - - - - 16 - - - - - |
|
| - - - - - - 124 123 - - - - |
|
| - - - - - - 57 87 - - - - - - - - - - 57 87 - - - - - - - - - - 57 87 - - - - - - - - - - 57 87 - - - - - - - - - - 57 87 - - - - - - - - - - - 30 - - - - - - - - - - - 30 - - - - |
|
| - - - - - - 285 495 - - - - |
|
| ares - - - - 2,250 2,250 - - - - - - - - - - - - - - 613 613 - - - - - - - - - - 212 212 - - - - - - - - - - - - 534 534 - - - - - - - - - - - - |
|
| - - - - 2,250 2,250 - - 825 825 534 534 |
|
| 23 23 - - - - - - - - - - |
|
| 23 23 - - - - - - - - - - |
|
| - - - - - - - - - - 300 - |
|
| - - - - - - - - - - 300 - |
|
| - - - - - - - - - - - 1,000 - - - - - - - - - - 2,946 2,817 - - - - - - - - - - 669 670 |
|
| - - - - - - - - - - 3,615 4,487 |
| Compensation of key management personnel Short-term employee benefits Post-employment gratuity (Paid by UBL Gratuity fund trust) Termination benefits Share-based payment transactions Total compensation paid to key management personnel |
March 31, 2021 March 31, 2020 2,118 2,149 1,277 - - - - - 3,395 2,149 |
|---|---|
*Excludes Goods and Services Tax (GST) paid by the Company under reverse charge mechanism.
**Includes both employer and employee contributions to the fund.
United Breweries Limited
Notes to standalone Ind AS financial statements for the year ended March 31, 2021 (All amounts in Indian Rupees Lakhs, except as otherwise stated)
| Subsidiary Associate Enterprises having significant influence Directors, KMP & their relatives Enterprises over which investing parties or KMP have significant influence Others |
|
|---|---|
| March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020 |
|
| Balances outstanding as at year en Investment in equity shares MML KEBFTPL Provision for diminution in value of MML Trade receivables (gross) DBL KBE DBG HPPL APBS SIRC Advance received from customer HPPL Security deposits (asset) UBHL Advance to supplier MML Trade payables HIBV HAPEP HBBV Amstel HAPBPL HSCBV KBE UBHL |
d 4,500 4,500 - - - - - - - - - - - - 1 1 - - - - - - - - |
| 4,500 4,500 1 1 - - - - - - - - |
|
| investments 3,735 1,959 - - - - - - - - - - |
|
| 3,735 1,959 - - - - - - - - - - |
|
| - - - - - - - - 141 53 - - - - - - - - - - 6 15 - - - - - - - - - - 49 10 - - - - - - - - - - - - 9 - - - - - - - - - 297 - - - - - - - - - - - 522 - - - |
|
| - - - - - - - - 1,015 78 9 - |
|
| - - - - - - - - - - - 273 | |
| - - - - - - - - - - - 273 | |
| - - - - - - - - - - 65 65 | |
| - - - - - - - - - - 65 65 | |
| 75 116 - - - - - - - - - - |
|
| 75 116 - - - - - - - - - - |
|
| - - - - - - - - 629 491 - - - - - - - - - - - 365 - - - - - - - - - - 124 239 - - - - - - - - - - 66 93 - - - - - - - - - - 13 23 - - - - - - - - - - 30 16 - - - - - - - - - - - 19 - - - - - - - - - - - - 209 201 |
|
| - - - - - - - - 862 1,246 209 201 |
(a) Property, plant and equipment with gross block of Rs. 343 Lakhs (Previous year : Rs. 275 Lakhs) are lying with MML.
(b) The remuneration to key managerial personnel includes reimbursements and excludes the provisions made for gratuity and compensated absences, as they are determined on an actuarial basis for the Company as a whole. Also, for Mr.Rishi Pardal, the remuneration disclosed is for the period he was designated as Managing Director.
(c) The Company had received an order dated September 30, 2015 from the Debt Recovery Tribunal, Karnataka, Bangalore (DRT) whereby the Company has been directed not to pay/release amounts that may be payable with respect to shares in the Company held by an erstwhile director (including his joint holdings) and United Breweries (Holdings) Limited and also with respect to shares in the company held by Kamsco Industries pvt limited as per order dated January 09, 2019, without its prior permission. Accordingly, the Company has withheld payment of Rs. 2,016 Lakhs (net of payment of Rs. 784 Lakhs to the official liquidator of United Breweries (Holdings) Limited and net of TDS as applicable) relating to dividend on aforesaid shares. The Company would also withhold payment of proposed dividend for the year ended March 31, 2021 on aforesaid shares, which is subject to approval by the shareholders in the ensuing annual general meeting.
Further, the Company had received various orders from tax and provident fund authorities prohibiting the Company from making any payments to an erstwhile director. The Company has accordingly withheld payment of Rs. 45 Lakhs (net of TDS) relating to director commission and sitting fees payable to the aforesaid erstwhile director.
Terms and conditions of transactions with related parties
The transactions with related parties are made on terms equivalent to those prevailing in arm's length transaction. The outstanding receivables/payables balances are generally unsecured and interest free. There have been no guarantees provided to or received from any related party.