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Usha Martin Ltd. Interim / Quarterly Report 2020
60724_rns_2020-06-24_dc9d6445-0fe2-4c00-bfd1-3377fb6d5718.pdf
Interim / Quarterly Report
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usha martin Usha Martin Limited 2A, Shakespeare Sarani, Kalkata (formerly Calcutta) - 700 071 , Indio Phone: (00 91 33) 71006300/599, Fox: (00 91 33) 2282 9029 , 71006400/500 CIN: L31400WB1986PLC091621 Website: www.ushamartin.com
June 24, 2020
The Secretary National Stock Exchange of India Ltd Exchange Plaza, 5 th Floor, Plot No.C/1, G Block, Sandra Kurla Complex, Sandra (E) Mumbai -400 051 [Scrip Code: USHAMART]
The Secretary The BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street Mumbai -400 001 [Scrip Code:517146]
Societe de la Bourse de Luxembourg 35A Bouleverd Joseph II L-1840, Luxembourg [Scrip Code: US9173002042]
Dear Sirs / Madam,
Sub : Compliance under Regulation 23(9) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('LODR Regulations"' )
In terms of Regulation 23(9) of the LODR Regulations, we enclose herewith disclosure of Related Party Transactions on a consolidated basis, in the format specified in the relevant accounting standards for the half year ended March 31, 2020.
Kindly note that the Company has published its standalone and consolidated financial results for the year ended March 31, 2020 on June 06, 2020.
The said statement is also available on the Company's website www.ushamartin.com.
We request you to take the same on record.
Thanking you,
Yours faithfully, For Usha Martin Limited
Encl: As mentioned above
fft usha martin
Usha Martin Limited 2A, Shakespeare Sarani, Kalkata (formerly Calcutta) - 700 071 , India Phone• (00 91 33) 71006300/599, Fax• (00 91 33) 2282 9029, 71006400/500 CIN • L31400WB l 986PLC09 I 62 l Website• www.ushamartin.com
Compliance under Regulation 23(9) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
Disclosure of Related Party Transactions on a consolidated basis, in the format specified in the accounting standards for the half year ended 31st March, 2020
Related party disclosures
| (i) | Related Parties | |
|---|---|---|
| (a) | Joint ventures | Pengg Usha Martin Wires Private Limited (PUMWPL) |
| CCL Usha Martin Stressing Systems Limited (CCLUMSSL) | ||
| Tesac Usha Wire rope Company Limited (TUWCL) * | ||
| (b) | Key managerial personnel | Mr. M. Rohatgi, Chairman (appointed as Chairman with effect from 20th January, 2020j |
| Mr. Brij K Jhawar, Director | ||
| Mr. Basant Kumar Jhawar, Chairman Emeritus (till 31st March, 2019) | ||
| Mr. Prashant Jhawar, Director (till 13th September, 2019) | ||
| Mr. G. N. Bajpai, Chairman (till 31st March, 2019) | ||
| Mr. Salil Singhal, Director (till 30th July, 2019) | ||
| Mr. Jitender Balakrishnan, Director (till 30th July, 2019) | ||
| Mr. P.S.Bhattacharyya, Director (till 30th July, 2019) | ||
| Mr. V. Ramakrishna Iver, Director | ||
| Mr. Vijay Singh Bapna, Director (with effect from 27th May, 2019) | ||
| Mrs. Ramni Nirula, Director (with effect from 26th July, 2019) | ||
| Ms. A. Ramakrishnan, Director (till 9th January, 2019) | ||
| Mr. Rajeev Jhawar, Managing Director | ||
| Mr. P.K.Jain, Joint Managing Director (deceased on 17th May, 2020) | ||
| Mr. Rohit Nanda, Chief Financial Officer (till 9th April, 2019) | ||
| Mrs. Shampa Ghosh Ray, Company Secretary | ||
| Mr. Anirban Sanyal, Chief Financial Officer (with effect from 10th April, 2019) | ||
| (c) | Substantial interest in the voting power of the entity | UMI Special Steel Limited (UMISSL) (under liquidation) |
| (d) | Others | Usha Martin Employee Provident Fund Trust |
| Joh Pengg Austria AG (Holding Company of PUMWPL) | ||
* Represents step-down joint venture.
usha martin Usha Martin Limited
2A, Shakespeare Sarani, Kolkoto (formerly Calcutta) - 700 071, Indio Phone: (00 91 33) 71006300/599, Fox: (00 91 33) 2282 9029, 71006400/500 CIN : L3 l 400WB l 986PLC09 l 62 l Website : www.ushomortin.com
(ii) Particulars of transactions
(All amounts in Rs. lakhsj
The following table provides the total amount of transactions that have been entered into with the related parties for the relevant financial period:
| Transactions during the period | ||||||||
|---|---|---|---|---|---|---|---|---|
| Name and relationship | Half Year-end | Sale ofproductsandservices | Purchase ofMachineries | Dividend | InterestReceived expenses/(income)(net) | Keymanagementpersonnel'remuneration # | Directors' | Contributionsitting fees to EmployeesProvidentFund Trust |
| Key managerial personnel | ||||||||
| Mr. Rajeev Jhawar | 31st March, 2020 | - | - | - | 59 | - | ||
| 31st March, 2019 | - | - | - | - | 74 | - | - | |
| Mr. Brij K Jhawar | 31st March, 2020 | - | - | - | - | - | 2 | - |
| 31st March, 2019 | - | - | - | - | - | 2 | - | |
| Mr. P. K. Jain | 31st March, 2020 | - | - | - | - | 84 | ||
| 31st March, 2019 | - | - | - | 80 | - | |||
| Mrs. Ramni Nirula | 31st March, 2020 | - | - | - | - | - | 4 | - |
| 31st March, 2019 | - | - | - | - | - | |||
| Mr. Vijay Singh Bapna | 31st March, 2020 | - | - | - | - | - | 3 | - |
| 31st March, 2019 | - | - | - | - | - | - | - | |
| Mr. Anirban Sanyal | 31st March, 2020 | 59 | ||||||
| 31st March, 2019 | - | |||||||
| Mr. Rohit Nanda | 31st March, 2020 | - | - | - | - | - | - | - |
| 31st March, 2019 | - | - | - | 103 | - | - | ||
| Mrs. Shampa Ghosh Ray | 31st March, 2020 | -- | - | - | - | 39 | - | - |
| 31st March, 2019 | - | - | - | 17 | - | |||
| Mr. Basant Kumar Jhawar | 31st March, 2020 | - | - | - | - | - | - | - |
| 31st March, 2019 | -- | -- | -- | - | -- | 2- | -- | |
| Mr. Prashant Jhawar | 31st March, 2020 | - | - | - | - | - | - | |
| 31st March, 2019 | - | - | - | - | 2- | - | ||
| Mr. Jitender Balakrishnan | 31st March, 2020 | - | - | - | - | - | - | |
| 31st March, 2019 | - | - | - | - | - | 6- | - | |
| Mr. G.N.Bajpai | 31st March, 2020 | - | - | - | - | - | - | |
| 31st March, 2019 | - | - | - | - | - | 7- | - | |
| Mr. Salil Singha! | 31st March, 2020 | - | - | - | - | - | ||
| 31st March, 201931st March, 2020 | - | - | - | - | 4- | - | ||
| Mr. P.S.Bhattacharyya | 31st March, 2019 | - | - | - | - | 4 | - | |
| Mr. V. Ramakrishna Iyer | 31st March, 2020 | - | - | - | - | - | 2 | - |
| 31st March, 2019 | - | - | - | - | 2 | - | ||
| Mr. M. Rohatgi | 31st March, 2020 | - | - | - | - | - | 6 | - |
| 31st March, 2019 | - | - | - | - | 4 | - | ||
| Ms. A. Ramakrishnan | 31st March, 2020 | - | - | - | - | - | - | - |
| 31st March, 2019 | - | - | - | - | - | 3 | - | |
| Total | 31st March, 2020 | - | - | - | - | 241 | 17 | - |
| 31st March, 2019 | - | - | - | - | 274 | 36 | - | |
| Others | ||||||||
| Usha Martin Employees provident Fund | 31st March, 2020 | - | - | - | - | - | 184 | |
| Trust | 31st March, 2019 | - | - | - | - | - | - | 141 |
| Joh Pengg Austria AG | 31st March, 2020 | - | - | - | - | - | - | |
| 31st March, 2019 | 759 | 8 | 0 | - | - | - | - | |
| Total | 31st March, 2020 | - | - | - | - | - | - | 184 |
| 31st March, 2019 | 759 | 8 | 0 | - | - | - | 141 | |
| -Grand Total | 31st March, 2020 | - | - | - | - | 241 | 17 | 184 |
| �ilNL� | 31st March, 2019 | 759 | 8 | 0 | - | 274 | 36 | 141 |
usha martin
Usha Martin Limited 2A, Shakespeare Sarani, Kolkoto (formerly Calcutta) - 700 071, India Phone: (00 91 33) 71006300/599, Fax: (00 91 33) 2282 9029, 71006400/500 CIN : L31400WB l 986PLC09162 l Website: www.ushomortin.com
(All amounts in Rs. lakhs)
(iii) Balance outstanding at the half year end 31st March, 2020
| Balance outstanding at the year end | ||||||||
|---|---|---|---|---|---|---|---|---|
| Name and relationship | Corporate /otherguaranteesgiven | Tradereceivables | Trade payables/other financial advances (long equity sharesliabilities | Loans andterm / short-term) | Investments in | Company'scontribution toRelated PartyTrust | ||
| Substantial interest in voting powerof the Company | ||||||||
| UMISSL | 31st March, 2020 | - | - | - | - | - | ||
| 31st March, 2019 | - | - | - | - | ||||
| Key managerial personnelMr. Rajeev Jhawar | 31st March, 202031st March, 2019 | 29,0751,99,594 | -- | -2 | - | -- | ||
| Mr. P. K. Jain | 31st March, 202031st March, 2019 | -- | -- | 9 | -- | -- | -- | |
| Mr. Rohit Nanda | 31st March, 202031st March, 2019 | -- | -- | -14 | -- | - | -- | |
| Ms. Shampa Ghosh Ray | 31st March, 202031st March, 2019 | -- | -- | 2 | -- | -- | -- | |
| Total | 31st March, 2020 | 29,075 | -- | - | -- | -- | -- | |
| 31st March, 2019 | 1,99,594 | 27 | ||||||
| OthersUsha Martin Employees Provident | ||||||||
| Fund Trust | 31st March, 202031st March, 2019 | -- | -- | -- | -- | -- | 118228 | |
| Joh Pengg Austria AG | 31st March, 202031st March, 2019 | -- | -342 | -- | 11 | 1,6201,620 | -- | |
| Total | 31st March, 202031st March, 2019 | -- | -342 | -- | 11 | 1,6201,620 | 118228 | |
| Grand Total | 31st March, 2020 | 29,075 | - | - | 1 | 1,620 | 118 | |
| 31st March, 2019 | 1,99,594 | 342 | 27 | 1 | 1,620 | 228 |
• Amount is below the rounding off norm adopted by the Group.
Terms and conditions of transactions with related parties
The sales to and purchases from related parties are made on terms equivalent to those that prevail in arm's length transactions. For the half year ended 31st March, 2020 and 31st March, 2019, the Group has not recorded any impairment of receivables relating to amounts owed by related parties. This assessment is undertaken each financial year through examining the financial position of the related party and the market in which the related party operates.
The Group routinely enters into transactions with these related parties in the ordinary course of business at market rates and terms.
As the future liability for gratuity and leave is provided on an actuarial basis for the Company as a whole, the amount pertaining to key managerial personnel is not ascertainable and therefore not included above.
