HVL audited standalone and consolidated financial results - Year ended March 31, 2018

The Board of HVL at its meeting held today approved audited standalone and consolidated financial results for the year ended March 31, 2018.

HVL Standalone Results: -

• The net profit after tax stood at Rs.125.65 Crores for the financial year ended March 31, 2018 as against Rs. 102.90 Crores for the financial year ended March 31, 2017.

• HVL on standalone basis reported a total income of Rs.242.60 Crores for the financial year ended March 31, 2018 as against Rs. 203.39 Crores for the financial year ended March 31, 2017.

Consolidated Financial Results: -

• Consolidated total income for the financial year ended March 31, 2018 is Rs. 868.97 Crores as against to Rs. 826.00 Crores for financial year ended March 31, 2017.

• Consolidated net loss after tax and minority interest for the financial year ended March 31, 2018 stood at Rs 255.54 Crores as against loss of Rs. 56.61 Crores for the financial year ended March 31, 2017.

The Scheme of Amalgamation between Grant Investrade Limited, a wholly owned subsidiary of the Company (“Transferor Company”) and the Company, namely, Hinduja Ventures Limited (“Transferee Company”) is pending before the National Company Law Tribunal [NCLT] for its approval. The appointed date of the Scheme of Amalgamation is October 01, 2017. Accordingly, the Standalone and Consolidated Financial Results of the Company for the year ended March 31, 2018 are approved by the Board of Directors without giving effect to the Scheme of Amalgamation. The effect of the said scheme, as it would affect the Company would be given in the books of account of the company on receipt of necessary statutory approvals.

Recommendation of Dividend: -

The Board has considered and recommended the dividend of 175% on face value of Rs. 10/- per share translating into Rs. 17.50 /- per share for the financial year 2017-2018 subject to the approval of the Members at the ensuing Annual General Meeting of the Company.

The dividend, if declared by the members of the Company, will involve a cash outflow of Rs. 43.37 Crores including Dividend Distribution Tax, representing 34.51% of the current year earnings without giving effect to the Scheme of Amalgamation between Grant Investrade Limited, a wholly owned subsidiary of the Company (“Transferor Company”) and the Company, namely, Hinduja Ventures Limited (“Transferee Company”).