rD DOLLAR WEAR THE CHANGE

Date: 05-07-2021

The Secretary, T~retary,

National Stock Exchange of India Ltd. ' ...BSE Limited
Exchange Plaza, 5th Floor, Phiroze Jeejeebhoy Towers,
Plot No. CII, 'G' Block, Dalal Street, Fort,
Bandra - ' Kurla Complex, Bandra (E), Mumbai - 40000 I.
Mumbai - 400 051.
Scrip Code - DOLLAR Scrip Code: 541403

Dear SirlMadam,

Sub: Compliance under Regulation 34(1) of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations 2015- Annual Report for the Financial Year ended 31 March,
2021

Pursuant to Regulation 34(1) of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations 2015, we are enclosing herewith the Annual Report of the Company for the
Financial Year ended 31 51 March, 2021 along with the Notice of Annual General Meeting of the
Company scheduled to be held on Wednesday, 28 th July, 2021.
,

7l.e Annual Report for the Financial Year 2020-21 is also available on the Company's website at
www.dollarglobal.in

This is for your information and record .

Thanking You

Yours faithfully ,

I;' b L.n
Chis~ ishra
Company Secretary
Encl: As stated

DOLlAR INDUSTRIES LTD.

(AN ISO 9001:2015 CERTIFIED ORGANISATION)

Om Tower 15th Floor 32 J. L. Nehru Road Kolkata 700071 India

+ 9133 22884064·66 +91332288 4063 ~ [email protected] dollarglobal.in
elN NO. : l17299WBl993PlC058969
CHANGE IS GOOD
CHANGE IS GOOD
CHANGE IS GOOD
CHANGE IS GOOD
CHANGE IS GOOD
CHANGE IS GOOD
CHANGE IS GOOD
CHANGE IS GOOD
CHANGE IS GOOD
Dollar Industries Limited | Annual Report 2020-21
Contents Financial performance, FY 2020-21
CHANGE IS GOOD
‘CHANGE IS THE ONLY CONSTANT’ FOR US AT DOLLAR’.

1,036.96  Cr
01 Introduction to theme
02 Prelude

Who we are
08 Corporate identity
`
10 Presence
12 Business model
REVENUE FROM Dollar is all Reinforce
14 Milestones about evolution. our positioning as a corporate
16 Product suite
18 Marketing campaigns
OPERATIONS We pride ourselves on brand that consumers trust.
Our performance our ability to evolve with Generate
20 Management message changing times. industry-leading realisations per
22 Key performance indicators

141.56  Cr
We know change is sub-brand category.
Strategic priorities
never smooth, and there
26 Overhauling brand architecture
Build
28 Restructuring distribution
30 Digital investments ` will always be sceptics.
a super Dollar brand category
recall, strengthening offtake.
ESG approach
32 Environment
EBITDA Why change
34 Employees if it is working? Deepen
36 Community
We have heard this question the respect, ‘If it is Dollar, then it
Statutory reports numerous times since must be excellent.’
38 Statutory reports (MDA, DR,
we started our journey as

87.51  Cr DOLLAR
BRR, CGR and Annexures)
Bhawani Textiles in 1972.
Financial statements
115 Financial Statements
` When we decided to

IS PRO-
(Standalone and Consolidated) rename our Company.
PAT When we decided to widen our
(INCLUDING OTHER COMPREHENSIVE INCOME) product portfolio for men.
When we decided to
enter the women’s and
CHANGE.
children’s categories.
DOLLAR
IS FOR
Click on this icon to view the videos However, we stood our
ground, because we believe
Caution regarding forward-looking statements change is welcome,

EVERYONE.
This document contains statements about expected future events and financial and operating results of Dollar Industries Limited, which are forward-looking.
By their nature, forward-looking statements require the Company to make assumptions and are subject to inherent risks and uncertainties. There is significant change is good.
risk that the assumptions, predictions and other forward-looking statements will not prove to be accurate. Readers are cautioned not to place undue reliance
on forward-looking statements as a number of factors could cause assumptions, actual future results and events to differ materially from those expressed This is what we believe
in the forward-looking statements. Accordingly, this document is subject to the disclaimer and qualified in its entirety by the assumptions, qualifications and
risk factors referred to in the management’s discussion and analysis of the Dollar Industries Limited Annual Report FY 2020-21. will be the outcome of our
exciting agenda for change.
 GOOD FOR OUR GOOD FOR OUR

CUSTOMERS INVESTORS
Our strong faith in our fundamentals gave us the confidence to diversify
our portfolio, and become a more lovable brand, endeared by millions of
customers. From just a men’s brand, we have strategically broad-based AND SHARE-
HOLDERS
our offering to target men, women and children.

Considering the country’s young The result: We have now

median age and the increasing repositioned our brand
number of women in the workforce, as ‘Dollar for everyone’.
we embarked on the manufacture
2 Read more on P.16 3
of products that would cater to their
everyday needs such as athleisure,
Our rich legacy spanning close to five decades is
casual wear and winterwear, among the result of the trust and encouragement of all our
others. We constantly leverage investors and shareholders.
our in‑house R&D capabilities of
our textile experts, skillset of our
designers and MLM software to Our growing turnover and strong The result: Our EPS has grown
introduce newer products in line operating profit reflects our from `10.48 in FY 2019-20
with the changing preferences of our market leadership and operating to `15.39 in FY 2020-21, a
customers. efficiencies. Our return ratios have significant growth of over 50%.
also strengthened over the years,
We have also rewarded our
We have also ramped up our demonstrating a resilient business
model with a comfortable gearing
investors and retail shareholders
manufacturing capabilities to make
face masks and PPE kits to address (0.22). with consistent dividend payout.
the shortage of these essentials Read more on P.22
in India.

We will continue to diversify our

product range, with focus on
innovation and transformation to
delight our patrons.
 GOOD FOR OUR GOOD FOR OUR

PEOPLE DISTRIBU-
We felt that in order to build a resilient company
in a dynamic operating environment, we need to
TORS AND
RETAILERS
upskill our people consistently.
We were predominantly known The result: Substantial
as a men’s wear brand, despite increase in our women
being one of the market leaders. workforce, cross-functional
We wanted to change that reality promotions and robust
and took proactive steps through
pipeline of leaders.
4 various marketing campaigns to 5
convey that Dollar is much more Read more on P.34 Considering the complexity of the Indian distribution
than what meets the eye. We
regularly engage with our people
network, a distribution overhaul was long impending to
and conduct several training achieve sustainable growth. We, at Dollar, are working
sessions and on-the-job training proactively to change that reality.
programmes, which enhances their
knowledge and insights. For years, every product had to be The result: We have
routed through distributors before witnessed a significant
they reached the retailers, often jump in our sales
leading to increased costs and increasing the overall
inefficiency.
revenue of the Company.
We set out on our journey to market Read more on P.28
our products directly to retailers,
one of the only companies to do so.

This shift in our approach is

projected to increase our visibility,
consumer pull and catalyse the
introduction of new products in
the market without significant
investments in our distribution
ecosystem.
 GOOD FOR OUR GOOD FOR OUR

COMMUNITY ENVIRONMENT
Community development is not just a statutory obligation for According to the Global Risk Report 2021 of World Economic
us. Since our inception, ensuring the overall growth of the Forum, environmental degradation and climate change is one of
communities in and around our manufacturing facilities has the biggest perils facing humanity. The only way out for us is to
been one of our key priorities. progressively seek greener pathways of development, with the
help and support of all stakeholders.
The pandemic has impacted the lives The result: Our community-
and livelihoods of millions of people. focused investments have We are focusing on incorporating The result: We have reduced
To help support the vulnerable benefited a significant number environment-friendly practices and GHG emissions significantly
population in this once-in-a-century of people in the last five years, increasing our share of renewable
6 crisis, we decided to distribute free
over the last five years. 7
and our corporate citizenship energy. In a five-year time horizon
food items to migrant workers in from 2008 to 2013, we have
our Tirupur unit. We even embarked
efforts have enabled us to Read more on P.32
emerge as a conscientious installed a total of four windmills
on the production of PPE kits and to build a substantial source of
mask to facilitate the supply of these and caring brand.
renewable energy.
essentials.
Read more on P.36
We will continue to focus on
Irrespective of how the situation implementing greener practices in
unfolds or any challenges that may our manufacturing units and work
come up over the foreseeable future, proactively towards a better and
our commitment to the community greener tomorrow.
will stay undeterred.
 Dollar Industries Limited

Who we are
Corporate identity

New Dollar for KEY FACTS

New India ~15% 49 13+

Our performance
MARKET SHARE IN THE YEARS OF INDUSTRY COUNTRIES EXPORT
INDIAN HOSIERY INDUSTRY EXPERIENCE PRESENCE
Ever since we commenced our journey, our singular focus has been
to be a part of every Indian household with a differentiated portfolio
OUR BRANDS
of brands. For nearly half a century, we have pursued this vision, and
have crossed many milestones along the way.

Strategic priorities
Founded in 1972 by Shri Dindayal Gupta as Bhawani
Textiles, Dollar Industries Limited today has become
one of the leading brands in the hosiery sector with
significant national and international footprint.

We are one of the market leaders of the Indian

8 hosiery sector with approximately 15% market share 9
and a significant percentage in exports of the total
production in the domestic hosiery market.

Today, we are a household name in India with

revamped brand campaigns and a noticeable presence OUR OUR CORE

ESG approach
across social media and e-commerce platforms.

Headquartered in Kolkata, we possess four

VISION MISSION VALUES
state‑of‑the-art manufacturing facilities, with presence DOLLAR IN EVERYONE’S LIVES.
across the value chain such as spinning, knitting,
• To emerge as India’s leading and
processing, cutting, stitching and packaging. In MEDIUM-TERM VISION • Insights and constant innovation are a way for
addition to our extensive national presence, we have most-loved innerwear brand Dollar. We also add value to the Dollar experience
We aspire to metamorphise the
built a formidable export presence in many countries • To make fashionable yet affordable so as to keep it more vibrant and relevant
Company into an aspirational
worldwide.
innerwear company by offering outerwear and innerwear • The benchmark for Dollar’s success is customer
premium and super premium products • To provide our customers with a satisfaction

Statutory reports
Our diversified portfolio of products comprises vests,
higher standard of apparel
briefs, trunks, gym vests, socks, athleisure, casual • Dollar delights its customers through a range of
LONG-TERM VISION • To reach out to customers
wear, camisoles and thermals, for men, women and products that not only deliver comfort, but are
children. These are suitably categorised under our It is to emerge as a complete brand conveniently (modern trade and constantly upgraded to keep the styling in line with
brands Dollar Man, Dollar Woman, Dollar Junior, and distribution company present e-commerce) the latest trends
Dollar Always and Dollar Thermal. Our proactive across multiple categories of • To outperform industry standards in • Business integrity is the way of life at Dollar.
collaborations with celebrities over the years have fashion wear – from garments to
terms of profitability The Company is proud to stand by integrity and
resulted in enhanced brand visibility and recall. innerwear.
• To enhance the lives of people transparency in all its dealings and ensures
adherence to highest standards of business ethics
centred around Dollar

Financial statements
• To achieve high governance standards • At Dollar, we value time and its optimum utilisation
Corporate Video 2020 for timely decision making

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Presence

Reaching Indian GROWING

PROMINENCE
households far and wide

Our performance
HIGHEST SELLING INNERWEAR AND KNITWEAR
BRAND IN THE UAE AND MIDDLE EAST

INDIA FOOTPRINT PREFERRED BRAND ACROSS COUNTRIES

Strategic priorities
4
12

12

10 2 3 11
11
7
3 15 11
4 8
3
1
5 2
9
4

ESG approach
6
14
16 10
13

8 5
6
1
7
9

13

Statutory reports
Branch offices
Manufacturing 1. UAE 6. Yemen 11. Algeria
facilities 1. Tirupur 7. Cuttack 13. Mumbai 2. Oman 7. Iraq 12. Ukraine
10
2. Delhi 8. Ahmedabad 14. Varanasi 3. Qatar 8. Nepal 13. Kenya
1. Kolkata 3. Jaipur 9. Nagpur 15. Kanpur 4. Kuwait 9. Myanmar

Financial statements
2. Tirupur 4. Patna 10. Bengaluru 16. Bhagalpur 5. Bahrain 10. Nigeria
3. Delhi 5. Ranchi 11. Agra
4. Ludhiana 6. Indore 12. Ludhiana
1 2

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Business model
We create sustainable value for our customers through prudent use of multiple
resources and relationships. We judiciously deploy our resources with appropriate
Amplifying value and flexible scenario planning and meticulous risk-reward analysis.

with singular focus

Our performance
Processing Division Spinning Division Cutting Division
(Bierrebi)

OUR STRENGTHS VALUE CREATION APPROACH CREATING VALUE FOR STAKEHOLDERS

Manufacturing excellence Marketing acumen

Our state-of-the-art integrated Our marketing initiatives

Strategic priorities
Procurement Spinning
manufacturing facilities are enable consumers to
equipped with world-class connect with the Dollar
machinery, ensuring advanced brand and everything it Customers Distributors and retailers
quality products. stands for.
We place great emphasis on We engage with our distributors

t ion
the changing preferences of and treat them as our equal
4

ing and distribu

customers and are striving business partners.
MANUFACTURING FACILITIES to augment our offerings to

Knit ting
OUR VALUE CHAIN create more value. We maintain We ensure that our products
12 13
our quality commitments to are the first choice through
Financial prudence Diversified product basket
deliver products that ‘wows’ enhanced value proposition.

rket
Funding obtained from providers We have a diverse portfolio customers, every time. We share insights and know-how
of capital, deployed to drive our of products across the value Ma and marketing support.
strategy and support business chain under our brands,

ESG approach
activities. catering to the requirements
of men, women and children. g
ac hin

₹11.34 Cr Dyeing and ble

Packaging

EQUITY

₹542.81 Cr
Shareholders and investors Communities
5 OFFERINGS We have sharpened our We are committed to growing
NET WORTH SUB-BRANDS
strategies and put in place together and playing a larger role
growth platforms to deliver for society.
Innerwear T-shirts Athleisure Socks Masks

Statutory reports
Qualified professionals Formidable distribution network attractive financial returns.
We have the best talent pool at We have an expansive footprint Leggings Trousers PPE suits Winterwear
our disposal, who have years across most states in the
of industry experience and are country and enjoy long-standing
competent. relationships with our distributors
and retailers. Prudent investments
Our sensible investments in
manufacturing assets distinguish
1,000+ our products from our peers People Planet

Financial statements
STRENGTH OF OUR
We work to ensure that our We are working proactively to
DISTRIBUTION NETWORK
Optimum workplace is a safe and minimise our environmental
Yarn Quicker Superior Low Labor Low
asset conducive environment for our footprint.
1 Lac + thickness off-take prices
utilisation
rejects output wastage
employees to grow and pursue
1,515 STRENGTH OF OUR their ambitions.
TOTAL EMPLOYEES RETAIL NETWORK

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Milestones

Evolving with aspirational India

Our performance
1972-73 1994-95 2005-06 2007-08 2008-09
• Started our journey • Began • Roped in Bollywood actor • Rebranded • Received the National Award
as Bhawani Textiles, a our export Salman Khan as the ourselves as in the ‘Excellence in Men’s
proprietary firm, under journey brand ambassador of Dollar Industries Innerwear’ category by Clothing
the leadership of Shri Dollar Club Limited Manufacturing Association of
Dindayal Gupta India (CMAI) for the second time
• Received the National

Strategic priorities
Award in the ‘Best Brand’
and ‘Excellence in Men’s
Innerwear’ categories by
Clothing Manufacturing
Association of India
(CMAI)

14 2018-19 2017-18 2016-17 2015-16 2014-15 2009-10 15

• Shares were listed • Shares were listed • Entered the MRT and • We established • Widened our • Bestowed the National
on BSE on NSE e-commerce segments 80,000+ MBOs presence across Award in the ‘Excellence in
across India and 26 Indian states Men’s Innerwear’ category

ESG approach
• Received ‘Company of • Entered into a joint • Secured 2% of overall
emerged as the by Clothing Manufacturing
the year-Textile’ award venture with Pepe revenues from Force
highest-selling Indian Association of India (CMAI) for
at Zee Business Dare Jeans Europe BV NXT within a year of its
innerwear brand in the the third time
to Dream Awards, 2018 to manufacture launch
Middle East
premium range of • Roped in Bollywood actor
• Roped in Bollywood men’s innerwear • Widened the reach
• We carved out a 15% Akshay Kumar as the brand
actress Chitrangada and outerwear of Missy and Bigboss
share of the branded ambassador of Dollar Bigboss
Singh as brand under the brand Dollar range of products
hosiery market
ambassador of Dollar name ’Pepe Jeans
Missy London’

Statutory reports
2019-20 2020-21
• Commissioned a 4 MW Solar
...
• Embarked on an election campaign • Revamped our brand identity
#UngliUthanaFitHaiBoss by introducing a new brand logo Power Plant as a part of the
and architecture ‘Green Mission’ initiative
• Implemented Project Lakshya to increase
reach and range in the market • Launched our new TVCs for • Extended help to the

Financial statements
men’s and women’s sections pandemic‑affected
• Received Times Business Award, Kolkata for people by distributing essentials
‘Best in Men’s Hosiery’, 2019 • Launched a new range of
Anti-Viral Products featuring • Raised funds for treatment of
• Awarded ET’s Most Promising Brand Award, 2019 cancer patients in Tirupur
masks for men and women and
• Shri Dindayal Gupta, Chairman Emeritus was innerwear for men
conferred with WBHA “Hall of Fame” Award, 2020

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Product suite

Fit for diverse consumers

Our performance
DOLLAR MAN DOLLAR ALWAYS DOLLAR THERMALS

Strategic priorities
Vests Briefs Trunks Gym Socks
Vests Briefs Trunks Panties Socks Camisoles Thermal Thermal Long Short Socks
vests
V-necks trousers camisoles camisoles

Tank Crew Polos Henley Bermudas

tops necks
16 17

Capri Track Joggers

pants

ESG approach
DOLLAR WOMAN DOLLAR JUNIOR

DOLLAR PROTECT DOLLAR STANDALONE BRANDS

Statutory reports
Leg wears Casual wear Camisoles Panties Socks T-shirts Bermudas Trousers Socks Our Force NXT Brand has an exclusive website www.forcenxt.com
Anti-virus vests Safety masks PPE suits

STRATEGIC JOINT VENTURE

Dollar entered a 50-50 joint venture partnership with PEPE Jeans Europe B.V under the name PEPE Jeans Innerfashion

Financial statements
Private Limited. It is a 10-year exclusive agreement, which requires a capital influx of `200 Cr. Dollar and PEPE will
invest `36 Cr each over a period of four years and the rest will be funded by banks as working capital loan.

The joint venture will conduct business in the territories of India, Sri Lanka, Bhutan, Nepal and Bangladesh.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Marketing campaigns

Reimagining consumer
outreach in extraordinary times

Our performance
360 degree
brand visibility
The pandemic has forced most people to remain
confined to their homes. We leveraged this
opportunity to reach a wider audience through
`78.55 Cr
TOTAL SPEND ON
innovative TVC campaigns. ADVERTISEMENT, FY 2020-21

Strategic priorities
DOLLAR - NEW BRAND IDENTITY DOLLAR WOMAN - MISSY
This campaign film featured our brand ambassador, Akshay The share of working urban women has increased exponentially
Kumar, and was directed by renowned filmmaker, Shiven over the last decade. Dollar Missy’s new campaign validates
Surendranath. It starts with Akshay Kumar reading a cliched our readiness to adapt to this reality and break the stereotypes
fairytale to his daughter, but takes an unexpected twist revolving around women’s fashion. The campaign film
compared to the normal ‘damsel in distress’ plot. It takes a features renowned Bollywood actress Chitrangada Singh,
18 19
progressive view on the subject by reversing the gender role in who showcases how Dollar Missy’s products enables Gen
the story, thereby reflecting the brand’s philosophy of keeping Y womenfolk to seamlessly shuffle between their personal,
pace with the changing times. professional and social lives. We have introduced 102 different
shades of leggings under Dollar Missy to enhance the fashion
quotient of the brand.
Dollar’s rebranding Dollar E-COMMERCE

ESG approach
Dollar Missy New TVC 2020

E-launch of Dollar Brand 2020

DOLLAR MAN - BIGBOSS DOLLAR THERMALS - ULTRA

We have had a long-standing association with our brand We launched this campaign to increase traction towards our
ambassador, Mr. Akshay Kumar. We did our first TVC campaign with thermal range. The campaign film features Bollywood actor,

Statutory reports
Akshay Kumar in 2009. Banking on the success of our collaboration Manish Paul, in a hill station with his wife where his sweaters
over the years, we embarked on our ninth TVC with him during the are snatched away by a thief. Upon catching the thief, he
year under review. The plot of the latest Dollar Bigboss commercial realises his motive was to overcome the cold and, in a flash,
revolves around the concept of cloning. The film reveals that even gives away all his warm clothes to the thief, because all he
though his perfect clone has been successfully designed, it fails the needs to survive is his Dollar Thermal. This hilarious campaign
penultimate test. Unlike the Dollar Bigboss vest worn by him, his was received well by the audience and made them aware of the
clone’s vest gets easily ripped off, portraying only the original brand effectiveness of the thermal range.
can stand up to the test of advanced strength and durability.
Dollar Ultra Thermals New TVC 2020

Financial statements
The story conveys the simple but powerful message that markets
will see new brand launches periodically, but the quality of Dollar
Bigboss will remain unrivalled.

Dollar Bigboss Bigboss New TVC 2020 Making of Dollar Bigboss TVC 2020

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Management message

Building an agile RESPONDING TO THE NEW ONGOING INITIATIVES

and future-ready business

Our performance
NORMAL
Banking on our brand architecture Digitalisation
The pandemic-induced lockdown
We revamped our brand architecture We continued to invest in
impacted our sales across physical
in such a way that the word ‘Dollar’ digitalisation during the
channels. We focused on online
became synonymous with all our year under review to ensure
The financial year 2020-21 has been like no other in more than a century. With outlets to ensure that our sales did
products. It gives the consumers a seamless engagements with
not stagnate; as a result, our online
India and many parts of the world still facing one of the greatest humanitarian and sales increased by 2x compared to
clear idea about our product offerings all customers and enhanced
and enables us to seamlessly operational efficiency.
health catastrophes in living memory, we must at the outset thank all frontline the previous year and accounted
connect with millennials.
2.25% of overall sales, compared to
workers, especially our healthcare workers, who are helping save millions of lives, the previous year. Understanding the Read more on P.26 Read more on P.30

Strategic priorities
while putting their own lives at risk. You are the real heroes! external scenario, we even embarked
on the production of PPE kits, masks Restructuring distribution
and anti-viral vests under our brand Through Project Lakshya, we introduced our distributors in the geographies
‘Dollar Protect’, enabling entry into the where we wanted to enter or deepen our footprint. Through this initiative, we
essential category. were able to directly market our products to the retailers and took our first
market will witness a surge in demand major step towards distribution decentralisation.
over the foreseeable future, catalysed
EMPLOYEES Read more on P.28
by the fast-growing segments such as
innerwear and athleisure. We were always of the belief that this
20 21
was more a period of human tragedy
The men’s innerwear segment has seen rather than a business one. As a COMMUNITY
consistent growth over the years but result, our number one priority was
Community development is something propel us towards a sustainable growth
there will be a surge in the demand ensuring the safety and well-being of
that we have been working towards journey. We thank all our stakeholders
for women’s innerwear as well due to all our employees. Our HR department
since our inception. Along with carrying for keeping their faith in us. As always,

ESG approach
favourable macro-economic factors continuously followed up with all the
out initiatives like creating awareness we will work tirelessly to enhance
such as growing aspirations, increasing employees across the organisation to
about women’s health and hygiene and stakeholder value and continue on our
number of working women, brand have a clear idea about their mental
Vinod Kumar Gupta (Managing Director) Binay Kumar Gupta (Managing Director) installation of water huts and kiosks, growth journey.
awareness, evolving fashion trends and health. Besides, we regularly sanitised
we stepped up to combat the battle
social media exposure, among others. all our plants and offices to ensure
against Covid-19. We collaborated with Warm regards
MACROECONOMIC ENVIRONMENT INDUSTRY OVERVIEW that there is no outbreak within our
Kolkata Police to distribute essential
Besides, the transition to the work- facilities. The senior management also Vinod Kumar Gupta
It has been a difficult year for the The knitwear industry, like most food items to the underprivileged
from-home model has led to the interacted with employees through Binay Kumar Gupta
Indian economy and businesses. The other industries, was affected by the people. With increasing deaths of
increase in demand for athleisure and virtual platforms, to ensure their Managing Director
government’s containment measures pandemic. The nationwide lockdown migrant labourers, we set up shelter
casual attire, which is expected to wellbeing.
to flatten the curve have impacted and strict government restrictions at our Tirupur plant and served
sustain in the foreseeable future.

Statutory reports
economic growth significantly. After caused massive trade and supply 300 people.
the third quarter of FY 2020-21, the disruptions, which increased the ENVIRONMENT
economy was gradually rebooting, demand-supply gap significantly. The OUR PERFORMANCE
For several years, we have been WAY FORWARD
and we saw some positive movement muted consumer sentiments also
Despite the dismal first quarter, we kept focused on becoming a ‘green’
in high-frequency indicators, and the resulted in almost negligible sales. We will continue to leverage our
faith in our fundamentals and were company and by constantly trying
fourth quarter consolidated the gains of However, as the situation started brand strength, digital capabilities,
confident that we would be the first to to reduce our carbon footprint by
the third quarter. The last two quarters improving in Q3 FY 2020-21, there was and revamp our distribution model to
capitalise on the market opportunities decreasing our energy consumption,
saw the economy move into positive a pick-up in demand, validated by the widen and deepen our footprint across
once the situation improved. We water consumption and emission,
territory. However, that was short-lived. increase in sales. geographies. We believe that the
strategically focused on widening our among others. We have commissioned
The second wave of the pandemic hit experience of our management team,

Financial statements
footprint, investing in digitalisation a 4 MW solar power plant in Tamil
India harder. The only silver lining is If we look at the raw material side of coupled with the dynamism of the
and focusing on e-commerce sales. Nadu. The solar plant is a part of
that we have now adapted ourselves things, the domestic market is facing a second-generation management will
Besides, we were confident that the Dollar’s ‘Greensource Mission’ initiative
to this new normal in a better way, and shortage of cotton yarn, which resulted
diversity of our product basket would and has a capacity of generating
with a plethora of vaccines and new in the rising prices of Indian innerwear
yield positive results irrespective of the 75 Lacs power units annually and
therapies available, we should be able and knitwear products. Despite the
external environment. will help reduce carbon emissions by
to overcome this difficult phase sooner. headwinds, I am confident that knitwear
~9000 kgs per day.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Key performance indicators
Profit After Tax (PAT) (` in Cr) Profit Before Tax (PBT) Margin (%)

Resilient performance 75.25

87.28
10.35
10.79
11.31

amid headwinds

Our performance
64.02 8.25
59.45 7.53

43.49

2016-17 2017-18 2018-19 2019-20 2020-21 2016-17 2017-18 2018-19 2019-20 2020-21

FINANCIAL

Strategic priorities
Revenues from Operations (` in Cr) Operating Profit (EBITDA) (` in Cr) Profit after tax (PAT) margin (%) Earnings Per Share (EPS) (`)

1028.75 1036.96 137.87 141.56 8.42 15.39

967.10
925.55 125.87 13.27
886.13 7.32
6.92
109.29 11.60
22 101.31 6.15
10.48
23

4.91
8.02

ESG approach
2016-17 2017-18 2018-19 2019-20 2020-21 2016-17 2017-18 2018-19 2019-20 2020-21 2016-17 2017-18 2018-19 2019-20 2020-21 2016-17 2017-18 2018-19 2019-20 2020-21

EBITDA Margin (%) Profit Before Tax (PBT) (` in Cr) Interest Cover (X) Debt-equity Ratio (X)

Statutory reports
13.60 13.65 117.31 16.11 0.80
13.40 111.04
11.43 11.30 95.80

79.79 0.52 0.54

66.75 8.76 0.44

7.04 7.15

5.12 0.22

Financial statements
2016-17 2017-18 2018-19 2019-20 2020-21 2016-17 2017-18 2018-19 2019-20 2020-21 2016-17 2017-18 2018-19 2019-20 2020-21 2016-17 2017-18 2018-19 2019-20 2020-21

Annual Report 2020-21

 Dollar Industries Limited

Who we are
OPERATIONAL

Channel-wise contribution (%)

90 90 92

Our performance
7 7 6
3 3 2

DOMESTIC EXPORT MODERN TRADE

2018-19 2019-20 2020-21

Strategic priorities
Zone-wise contribution (%)

43
42 41

29 30
24 27 25
24
22
20

Return On Capital Employed (RoCE) (%) Dividend Per Share (`) 7 8 7

ESG approach
39.30 5#
EAST WEST NORTH SOUTH

32.57 2018-19 2019-20 2020-21

31.44

20.03 22.83

2.40*@
Brand-wise contribution (%)
1.60* 1.70* 1.70*

Statutory reports
2016-17 2017-18 2018-19 2019-20 2020-21 2016-17 2017-18 2018-19 2019-20 2020-21

BIGBOSS CHAMPION FORCE GO FORCE NXT MISSY REGULAR SOCKS THERMALS

WEAR
Note: Previous year’s figures have been reclassified/regrouped # On face value of `10

Financial statements
2020-21 43 1 2 3 8 34 1 9
to conform to the presentation requirements under IND *On face value of `2
AS and the requirements laid down in Schedule-III of the @ Proposed dividend, subject to shareholders 2019-20 42 1 4 2 9 31 2 9
Companies Act, 2013. confirmation at the ensuing AGM 2018-19 42 1 4 2 8 35 1 7

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Overhauling brand architecture
OUTCOMES
After a lot of analysis and introspection,

To stay ahead, we are we revamped our brand architecture.

During the brand restructuring exercise,
the Company chose to prefix every

always thinking, innovating

existing product brand of the Company

Our performance
with the word ‘Dollar’.

and executing
Over the years, Dollar has become synonymous with men’s innerwear.

Strategic priorities
Our objective was to extend it further by transforming our brand architecture.
Following deep market research, innovation, planning and coordination with
teams, we overhauled our entire brand architecture. Today, we have a plethora
of products for men, women and children.

26 27

Evolution continues
unabated

ESG approach
BRAND EVOLUTION
Since our inception, we have revamped
India’s apparel industry is also
our logo multiple times in step with what
transforming rapidly with changing
is trending. We are also working on a

1972
customer aspirations with focus on
large number of new products that will
millennial customers.
be launched in the coming years. Our
innovation pipeline continues to grow.

1990
New product
development

Statutory reports
2005
Dollar now addresses the needs

2010
of a huge consumer spectrum
through its differentiated price
categories: premium, mass premium

Financial statements
and economy. Evolved Dollar
will seamlessly connect with the

2020
millennials and address their
ever-changing needs.
Innovation Customer
focus
Annual Report 2020-21
 Dollar Industries Limited

Who we are
Restructuring distribution Karnataka

15 16
To enhance efficiency, DISTRIBUTORS
PRE-PROJECT LAKSHYA
DISTRIBUTORS
POST-PROJECT LAKSHYA

we revamped the

Our performance
Rajasthan

7 16
distribution network DISTRIBUTORS
PRE-PROJECT LAKSHYA
DISTRIBUTORS
POST-PROJECT LAKSHYA

Maharashtra
For years, the Indian distribution cycle was looked upon as

Strategic priorities
one-dimensional, which often had an adverse effect on
overall efficiency. We, at Dollar, decided to simplify the
6 7
DISTRIBUTORS DISTRIBUTORS
distribution architecture. PRE-PROJECT LAKSHYA POST-PROJECT LAKSHYA

Gujarat

28
0 6 29

DISTRIBUTORS DISTRIBUTORS
Getting bigger and better PRE-PROJECT LAKSHYA POST-PROJECT LAKSHYA
We embarked on our journey of evolving All our products were routed through This has resulted in the increase in
the distribution landscape through the distributors before they were stocks of our products at the retail level,

ESG approach
Project Lakshya. We collaborated with delivered to the retail outlets, which was which in turn, has enabled us to widen Telangana
Vector Consultants for the successful then marketed to the consumers. We and deepen our footprint.
implementation of the Theory of
Constraint (TOC). We started appointing
distributors in regions where we
are focusing on bridging this gap and
marketing our products directly to the
retailers, thereby replacing the traditional
We have successfully implemented
this programme across five states
0 2
DISTRIBUTORS DISTRIBUTORS
previously had none or negligible reach. push model with the pull model. The namely Karnataka, Rajasthan, Gujarat,
PRE-PROJECT LAKSHYA POST-PROJECT LAKSHYA
This approach would enable us to reduce primary objective was to strengthen Maharashtra and Telangana. As a
our working capital cycle by reducing our capital efficiency at the retail level; the result of adding distributors in these
receivables and inventories. retailers would have the flexibility of regions, the number of retailers we used
buying products on a per-piece basis to engage with has grown multi-fold. Average primary sales post Project Lakshya

Statutory reports
Our objective behind Project Lakshya instead of having to buy the entire box Encouraged by the success of the model
was to reinvent our entire distribution like before. in these states, we plan on implementing
network. this in 10 more states in FY 2021-22.

Karnataka Rajasthan Maharashtra Gujarat Telangana

Financial statements
Post roll-out 1,09,85,469 1,41,89,209 51,71,660 22,25,946 8,41,064
Pre roll-out 65,42,261 97,64,971 31,28,487 2,12,393 0

Besides, we plan on launching Executive Brand Outlets (EBOs) and the brassiere segment. We are projected to finish the
construction of an integrated warehouse in West Bengal, which will help us to improve our inventory management. The revamped
brand architecture has also helped us to gain significant traction, thereby providing us the impetus to widen our distribution
network.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Digital investments

To catch more eye share, Our digital interventions

we boarded the digital train

Our performance
AUTOMATED TELE-CALLING AUTO REPLENISHMENT DISTRIBUTION MANAGEMENT
SYSTEM (ARS) SYSTEM (DMS)
This automated tele-calling solution
through its user interface collects The Auto Replenishment System keeps The Distribution Management System
all past data of the retailers, which a tab on the distributor’s sales and provides us with real-time updates
facilitates our tele-callers in providing a automatically creates the primary order about the sales and inventory levels
Digitalisation was already gaining momentum in India for the last few better customer experience, along with when the stock is about to finish. This of the distributors. DMS also provides
years, and the pandemic has only accelerated the trend in almost every enhancing their productivity. reduces considerable effort at the with us with a clearer idea about the
retailer’s end as well as ours. replenishment levels of the distributors,
aspect of life. The millennial population, who are an important consumer which gives us adequate time to stock
segment for us, are now more digitally driven than ever before. up at our end.

Strategic priorities
30 31

This is both a challenge and an Even till a few years back, our During the last five years, we spent
opportunity for us. Challenge, because investments in information technology extensively on digital interventions,
we need to quickly ramp up our digital were only restricted to the purpose of which validates our commitment towards

ESG approach
infrastructure and integrate it with keeping records and documentation. digitalisation. We were certain that our
our core business model. Opportunity, However, our perception changed when proactive investments towards being
because our revamped digital ecosystem we witnessed the large-scale use of a technology-driven organisation will
will help us enhance our efficiencies and digitalisation across various businesses enable us to engage with retailers for
the visibility of our brands significantly. and its immediate results. the first time and gain insights about
on-ground realities.

Statutory reports
DIGITAL COMMUNICATIONS ONLINE TASK ALLOCATION
Leveraging the technologies at our disposal, we have been We can allocate tasks online to our sales team, which reduces
able to increase our engagement with customers significantly the turnaround time for grievance addressal significantly.
through digital communications, which in turn, has resulted in
Our digital interventions have enabled us to gain a substantial
enhanced brand recall. We are provided with the platform to
edge over our peers; it has also enhanced our performance
communicate with retailers at one go to update them about
significantly, validated by the increase in sales, increased
changes in prices, schemes, policies and the introduction of
operational efficiency and enhanced brand visibility. Going
new products, among others.
forward, the addition of new modules and implementation of
SAP, will further catalyse the digital growth of our Company.

Financial statements
Annual Report 2020-21
 Dollar Industries Limited

Who we are
Environment 4 MW Solar Power Plant by Dollar 2020

For cleaner and greener Advantages

• Reduction in electricity consumption and bills

operations, we travel the

Our performance
• Diverse applications
• Low maintenance cost
Considering the significant advantages of utilising solar

extra mile • Ever-evolving technology developments in solar energy power, we have embarked on increasing the capacity of
our solar plant from 4MW to 5MW and is projected to be
completed by FY 2021-22.

We acknowledge that environment conservation is a non-negotiable

reality because climate change is one of the biggest perils facing Zero liquid discharge
Zero liquid discharge is an engineered We also invested extensively in an

Strategic priorities
humanity in the 21st century. This calls for urgent climate action by approach to water treatment where effluent treatment plant with zero liquid
the used water is recovered, and the discharge with a production capacity Advantages
governments, institutions and businesses globally. containments are reduced to solid waste. of 13.5 tonnes per day as required in
• Detection and prevention of
It is a strategic waste water system that the dyeing unit. It comprises six High
product loss
We are taking steps to pave a low-carbon pathway for our business. ensures zero discharge of industrial Pressure High Temperature (HPHT)
water into the environment; the waste machines and has a capacity of 1000 • Overall process optimisation
We will further ramp up our efforts to adopt green technologies and water is recovered, recycled and then KL Zero Liquid Discharge with multiple
• Constant monitoring of
energy sources to reduce our environmental footprint. reused for industrial purposes. evaporators, in compliance with the
industrial effluents
32 numerous labour laws and quality 33

Green source of energy 90% systems. • Detection of toxic and

hydrocarbon spills
It is no secret that years of irresponsible At Dollar, we have always paid great Besides this, we also commissioned a WATER RECYCLED ON A DAILY • Conformance to compliance
industrial practices has had an adverse emphasis on environment-friendly 4MW solar plant in Tamil Nadu with an BASIS IN TIRUPUR regulations

ESG approach
impact our environment. It is imperative practices and have consciously tried to aggregate power generation capacity of
• Protection of intakes
for responsible corporates to understand increase our dependence on renewable 75 Lacs units annually. This will not only
this reality and make a conscious shift energy sources. We installed four ensure the significant reduction of costs, • Reduction of surcharge fees
towards adopting greener energy sources windmills with a generation capacity but also make our production units at
• Low maintenance
to ensure a sustainable tomorrow. of 4.96 MW between 2008 and 2013. Tirupur self-reliant and sustainable.
These assets produce an aggregate • Dynamic billing
power of ~70 Lacs units every year.

Statutory reports
Financial statements
Annual Report 2020-21
 Dollar Industries Limited

Who we are
Employees
Women employees (No.)

To prioritise team well-being,

LEARNING AND DEVELOPMENT WOMEN EMPOWERMENT
We are one of leading players in the One of our primary objectives is to
industry and in order to maintain reduce the gender gap and create a 485

we acted decisively
this position, it is imperative that our gender diverse workforce at Dollar. We

Our performance
employees are up-to-date with all are constantly analysing the roles that
the industry developments and are could be taken up by women and are
270
equipped with the necessary knowledge putting our best foot forward to bridge
and skillset. Therefore, we conducted the gap. We are also working towards
various training sessions throughout creating a safe and sound working
The pandemic’s impact on health and morale of people has been the year for various functions. environment along with a structured
disproportionately high. During this once-in-a-century crisis, protecting Besides, we also conducted on-the-job anti-harassment policy in place. 56
training programmes for all the new
our employees and ensuring their well-being became our priority. recruitments, which facilitates their
DIVERSITY AND INCLUSION
professional journey with us. 2018-19 2019-20 2020-21

Strategic priorities
We believe that diversity and
inclusion is the key towards building a
sustainable and balanced workforce.
We have always placed great focus we understood the importance of
EMPLOYEE ENGAGEMENT We have anti-harassment and anti-
on the overall development of our regularly engaging with them.
discrimination policies implemented
employees but realising the severity of This helped us boost their morale Employee morale was at an all-time
across all the verticals of the Company.
the crisis and the effect it could have on and lend any critical support that low considering the rising rate of
These policies are applicable to
the mental well-being of our employees, may be needed. unemployment across the country.
everyone across the organisation
34 First and foremost, it was imperative 35
including employees, suppliers and
that we communicated that the culture
customers.
of Dollar is what differentiates it from
other companies. Our employees are
valuable to us and during this period of

ESG approach
uncertainty, we wanted to send out the
message that we will stand by them. As
a result, we increased our engagement
initiatives significantly. Our HR team
reached out to every single employee
frequently to enquire about their health
and family. Special meetings with the
management were also organised on
video calling platforms to bridge the gap
and inculcate the feeling of oneness
across the entire organisation.

Statutory reports
Total workforce (No.)

1,482 1,515

977

Financial statements
2018-19 2019-20 2020-21

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Communities

To give back is to make our Covid-CSR Page

growth more sustainable

Covid-CSR Activities

Our performance
Yes, that core belief inspires us to work consistently on innovative ideas
for community development, which is part of our broad agenda for
business sustainability. Under the aegis of the Dollar Foundation,
we have undertaken various initiatives to empower communities.

Strategic priorities
Our CSR activities are based on the
TCL WOMEN’S CRICKET LEAGUE
needs of communities with active
participation of local communities West Bengal Sports & Recreation Council
covering project planning, joined hands with TCL for the second
implementation, monitoring and season to promote women in sports and
evaluation before handing over the sports among women and to improve the
36 37
project to local communities. We standard of cricket among women. This
are strengthening a sustainable was surely a good opportunity for us to
ecosystem around our manufacturing sponsor the jerseys of this tournament,
units through strategic targeted and we hope to partner through such
interventions in the areas of education, initiatives in future as well.

ESG approach
health and sanitation, environment
sustainability and holistic community
development.
WATER HUTS AND KIOSKS
HEALTH AND HYGIENE
We installed 15 water huts across Bhubaneshwar, 16 water
We celebrated Women’s Day in huts across Cuttack and 14 water huts across Puri. Going
2021 by supporting menstrual forward, we intend to install 2 more water huts in front of
hygiene awareness. In an extension Puri railway station. We entered into a joint initiative with
to the #BeFreeBeYou campaign, we Metro Rail Authority (DMRA) to install water kiosks across
distributed more than 2,000 packets 22 metro stations in Delhi to provide hygienic drinking water COVID-19 RELIEF MEASURES

Statutory reports
of sanitary napkins amongst women for all. Going forward, in the second phase of the project, we
We collaborated with Kolkata Police and distributed
dwelling in slum areas of Topsia, intend to cover 100 more metro stations across Delhi and
food and medical equipment to the underprivileged
Tangra, Beliaghata, Baghbazar, major cities - Chennai, Jaipur, Nagpur and Lucknow.
across 60 wards. We also distributed 6,000 kgs of rice,
Sovabazar, Nimtala, Tollygunge,
40,000 packets of biscuits, 40,000 masks and 10,000
Swabhumi, Ultadanga and Phoolbagan.

~47
soap bars to the people in need amid the first wave of
This initiative has helped increase
the pandemic. During the nationwide lockdown, we also
awareness and improve the menstural
provided food and shelter to 300 migrant workers at our
hygiene of underprivileged women and WATER HUTS INSTALLED
manufacturing unit at Tirupur.
eradicate social stigma associated IN ODISHA
with menstruation.

Financial statements
2,000
SANITARY NAPKIN PACKETS
`1.92 Cr
ALLOCATION TOWARDS
DISTRIBUTED AMONGST WOMEN CSR INITIATIVES

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notice for the re-appointment of Mr. Bajrang Kumar Gupta (DIN:
01783906) as a Whole-time Director of the Company, for a
8. APPROVAL OF REMUNERATION OF COST AUDITORS
To consider and, if thought fit, to pass with or without
period of 5 (five) years with effect from 1 September, 2021
modification(s), the following resolution as an Ordinary
on the terms and conditions including remuneration as set
Resolution: -
out in the Statement annexed to the Notice convening this
Meeting, with liberty to the Board of Directors (hereinafter
“RESOLVED THAT pursuant to the provisions of Section 148
referred to as “the Board” which term shall be deemed to
NOTICE is hereby given that 28th Annual General Meeting  URTHER RESOLVED THAT the Board of Directors of the
F and all other applicable provisions of the Companies Act,
include the Nomination and Remuneration Committee of

Our performance
of members of M/s. Dollar Industries Limited will be held Company be and is hereby authorised to do all acts, deeds 2013 and the Companies (Audit and Auditors) Rules, 2014
the Board) to alter and vary the terms and conditions of the
on Wednesday, 28 July, 2021 at 11:00 A.M. (IST) via Video and things and take all such steps as may be necessary, (including any statutory modification(s) or re-enactment
said re-appointment and / or remuneration as it may deem
Conferencing (VC)/ Other Audio Video Means (OAVM) to proper or expedient to give effect to this resolution.” thereof, for the time being in force), M/s. Santiram
fit and as may be acceptable to Mr. Bajrang Kumar Gupta,
transact the following business: Chattopadhyay & Associates, (FRN: 101437) the
subject to the same not exceeding the limits specified under
5. RE-APPOINTMENT OF MR. BINAY KUMAR GUPTA Cost Auditors appointed by the Board of Directors of the
Sections 196 and 197 read with Schedule V (Section II of
(DIN:01982889) AS A MANAGING DIRECTOR Company, to conduct the audit of the cost records of the
ORDINARY BUSINESS: Part I) of the Companies Act, 2013.
Company for the financial year ending 31 March, 2022, be
To consider and, if thought fit, to pass with or without
1. To receive, consider and adopt the Standalone & paid the remuneration as set out in the Statement annexed
modification(s), the following resolution as an Ordinary  URTHER RESOLVED THAT the Board of Directors of the
F
Consolidated Financial Statement of the Company including to the Notice convening this Meeting.
Resolution: - Company be and is hereby authorised to do all acts, deeds
Audited Balance Sheet as at 31 March, 2021, Audited
and things and take all such steps as may be necessary,
statement of Profit & Loss and the Cash Flow Statement  URTHER RESOLVED THAT the Board of Directors of the
F

Strategic priorities
“RESOLVED THAT in accordance with the provisions proper or expedient to give effect to this resolution.”
together with the Notes to Accounts forming part of the Company be and is hereby authorised to do all acts and take
of Sections 196 and 197 read with Schedule V and all
financial statements for the year ended on that date along all such steps as may be necessary, proper or expedient to
other applicable provisions of the Companies Act, 2013 7. RE-APPOINTMENT OF MR. KRISHAN KUMAR GUPTA
with Report of Directors’ and Auditors’ thereon. give effect to this resolution.”
and the Companies (Appointment and Remuneration of (DIN:01982914) AS A WHOLE-TIME DIRECTOR
Managerial Personnel) Rules, 2014 (including any statutory
2. To declare dividend on Equity Shares. To consider and, if thought fit, to pass with or without 9. APPROVAL OF CHARGES FOR SERVICE OF DOCUMENTS
modification(s) or re-enactment thereof, for the time
modification(s), the following resolution as an Ordinary ON THE SHAREHOLDERS
being in force), approval of the Company be and is hereby
3. To appoint a Director in place of Mr. Gopalakrishnan Resolution: -
accorded for the re-appointment of Mr. Binay Kumar Gupta To consider and if thought fit, to pass, with or without
Sarankapani (DIN: 07262351), who retires by rotation and,
(DIN:01982889) as a Managing Director of the Company, for modification(s), the following Resolution as an
38 being eligible, offers himself for re-appointment. “RESOLVED THAT in accordance with the provisions 39
a period of 5 (five) years with effect from 1 September, 2021 Ordinary Resolution:
of Sections 196 and 197 read with Schedule V and all
on the terms and conditions including remuneration as set
other applicable provisions of the Companies Act, 2013
SPECIAL BUSINESS: out in the Statement annexed to the Notice convening this “RESOLVED THAT pursuant to the provisions of Section 20
and the Companies (Appointment and Remuneration
Meeting, with liberty to the Board of Directors (hereinafter of the Companies Act 2013 and other applicable provisions,
4. RE-APPOINTMENT OF MR. VINOD KUMAR GUPTA (DIN: of Managerial Personnel) Rules, 2014 (including any
referred to as “the Board” which term shall be deemed to if any, of the said Act and relevant rules made thereunder
00877949) AS A MANAGING DIRECTOR statutory modification(s) or re-enactment thereof, for the

ESG approach
include the Nomination and Remuneration Committee of and as amended from time to time, consent of the members
time being in force), approval of the Company be and is
To consider and, if thought fit, to pass with or without the Board) to alter and vary the terms and conditions of the be and is hereby accorded to charge and receive in advance
hereby accorded for the re-appointment of Mr. Krishan
modification(s), the following resolution as an Ordinary said re-appointment and / or remuneration as it may deem along with the request such fees which shall be equivalent
Kumar Gupta (DIN:01982914) as a Whole-time Director of
Resolution: - fit and as may be acceptable to Mr. Binay Kumar Gupta, to the actual expenses as estimated for dispatch of the
the Company, for a period of 5 (five) years with effect from
subject to the same not exceeding the limits specified under documents in the desired mode as may be requested by
1 September, 2021 on the terms and conditions including
“RESOLVED THAT in accordance with the provisions of Sections 196 and 197 read with Schedule V (Section II of a member.
remuneration as set out in the Statement annexed to the
Sections 196, 197 and 203 read with Schedule V and all Part I) of the Companies Act, 2013.
Notice convening this Meeting, with liberty to the Board
other applicable provisions of the Companies Act, 2013 
FURTHER RESOLVED THAT the Board of Directors of the
of Directors (hereinafter referred to as “the Board” which
and the Companies (Appointment and Remuneration of  URTHER RESOLVED THAT the Board of Directors of the
F Company be and is hereby authorised to do all acts and take
term shall be deemed to include the Nomination and
Managerial Personnel) Rules, 2014 (including any statutory Company be and is hereby authorised to do all acts, deeds all such steps as may be necessary, proper or expedient to
Remuneration Committee of the Board) to alter and vary
modification(s) or re-enactment thereof, for the time and things and take all such steps as may be necessary, give effect to this resolution.”

Statutory reports
the terms and conditions of the said re-appointment and/or
being in force), approval of the Company be and is hereby proper or expedient to give effect to this resolution.”
remuneration as it may deem fit and as may be acceptable
accorded for the re-appointment of Mr. Vinod Kumar Gupta Registered Office: By Order of the Board of Directors
to Mr. Krishan Kumar Gupta, subject to the same not
(DIN: 00877949) as a Managing Director of the Company 6. RE-APPOINTMENT OF MR. BAJRANG KUMAR GUPTA ‘Om Tower’, 15th floor, For Dollar Industries Limited
exceeding the limits specified under Sections 196 and 197
(designated as Key Managerial Personnel), for a period of (DIN: 01783906) AS A WHOLE-TIME DIRECTOR 32, J. L. Nehru Road,
read with Schedule V (Section II of Part I) of the Companies
5 (five) years with effect from 1 September, 2021 on the Kolkata- 700 071 Sd/-
To consider and, if thought fit, to pass with or without Act, 2013.
terms and conditions including remuneration as set out
modification(s), the following resolution as an Ordinary Abhishek Mishra
in the Statement annexed to the Notice convening this
Resolution: -  URTHER RESOLVED THAT the Board of Directors of the
F Date: 29 May, 2021 Company Secretary
Meeting, with liberty to the Board of Directors (hereinafter
Company be and is hereby authorised to do all acts, deeds
referred to as “the Board” which term shall be deemed to
“RESOLVED THAT in accordance with the provisions and things and take all such steps as may be necessary,

Financial statements
include the Nomination and Remuneration Committee of
of Sections 196 and 197 read with Schedule V and all proper or expedient to give effect to this resolution.”
the Board) to alter and vary the terms and conditions of the
other applicable provisions of the Companies Act, 2013
said re-appointment and / or remuneration as it may deem
and the Companies (Appointment and Remuneration of
fit and as may be acceptable to Mr. Vinod Kumar Gupta,
Managerial Personnel) Rules, 2014 (including any statutory
subject to the same not exceeding the limits specified under
modification(s) or re-enactment thereof, for the time being in
Sections 196 and 197 read with Schedule V (Section II of
force), approval of the Company be and is hereby accorded
Part I) of the Companies Act, 2013.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
EXPLANATORY STATEMENT PURSUANT TO SECTION 102 OF THE COMPANIES ACT, 2013: Item No. 5 well as for personal use. However, long distance calls for
personal use will be billed by the Company.
The terms of appointment of Mr. Binay Kumar Gupta as Jt.
The following Explanatory Statement, pursuant to Section 102 Personal Accident Insurance: Premium not to exceed
e. 
Managing Director would expire on 31 August, 2021. The Board
of the Companies Act, 2013 (“Act”), sets out all material facts ` 1,00,000/ - per annum. h. Other Benefits:
of Directors of the Company (the ‘Board’), at its meeting held
relating to the business mentioned at Item Nos. 4 to 9 of the
on 29 May, 2021, subject to provisions of Sections 196 and i. Leave on full pay and allowances as per the rules of
accompanying Notice dated 29.05.2021: f.  ratuity: Gratuity payable shall not exceed half of a month’s
G
197 read with Schedule V and all other applicable provisions the Company but not more than one month’s leave
salary for each completed year of service.
of the Companies Act, 2013, the Companies (Appointment and for every eleven months’ of services. However, leave
Item No. 4

Our performance
Remuneration of Managerial Personnel) Rules, 2014, Articles accumulated but not availed of shall be dealt with as
g. Car & Telephone: He shall be provided car with driver and
The terms of appointment of Mr. Vinod Kumar Gupta as Managing of Association of the Company and subject to the approval of per the Income Tax Rules, 1962, casual and sick leave
telephone at his residence for company’s business as
Director would expire on 31 August, 2021. The Board of Directors members in the Annual General Meeting, has re-appointed on full pay and allowance as per rules of the Company.
well as for personal use. However, long distance calls for
of the Company (the ‘Board’), at its meeting held on 29 May, Mr. Binay Kumar Gupta as Managing Director, for a period of 5
personal use will be billed by the Company.
2021, subject to provisions of Sections 196 and 197 read with (five) years w.e.f. 1 September, 2021, on the terms & conditions ii. He shall be entitled to reimbursement of traveling,
Schedule V and all other applicable provisions of the Companies and at the remuneration as recommended by the Nomination entertainment and all other expenses actually and
h. Other Benefits:
Act, 2013, the Companies (Appointment and Remuneration of and Remuneration Committee of the Company and approved by properly incurred for legitimate business need of the
Managerial Personnel) Rules, 2014, Articles of Association of the i. Leave on full pay and allowances as per the rules of the Board. Company but subject to rules of the Company framed
Company and subject to the approval of members in the Annual the Company but not more than one month’s leave from time to time.
General Meeting, has re-appointed Mr. Vinod Kumar Gupta as for every eleven months’ of services. However, leave It is proposed to seek the members’ approval for the re-
Managing Director, for a period of 5 (five) years w.e.f. 1 September, accumulated but not availed of shall be dealt with as appointment of and remuneration payable to Mr. Binay Kumar iii. He shall be reimbursed out of pocket expenses as may

Strategic priorities
2021, on the terms & conditions and at the remuneration as per the Income Tax Rules, 1962, casual and sick leave Gupta as Managing Director, in terms of the applicable provisions be incurred by him in the course of discharging his
recommended by the Nomination and Remuneration Committee on full pay and allowance as per rules of the Company. of the Act and the rules made thereunder. duties in his capacity as Jt. Managing Director.
of the Company and approved by the Board.
ii. He shall be entitled to reimbursement of traveling, The terms of re-appointment and remuneration payable to iv. Mr. Binay Kumar Gupta, as long as he function as such,
It is proposed to seek the members’ approval for the re- entertainment and all other expenses actually and Mr. Binay Kumar Gupta are as follows: shall not be paid any sitting fee for attending meeting
appointment of and remuneration payable to Mr. Vinod Kumar properly incurred for legitimate business need of the of the Board of Directors or any Committee thereof.
Gupta as Managing Director (designated as Key Managerial Company but subject to rules of the Company framed Salary: ` 12,50,000/- per month with an increment/revision
Personnel), in terms of the applicable provisions of the Act and from time to time. as may be recommended by the Nomination & Remuneration v. He shall not be liable to retire by rotation.
40 the rules made thereunder. Committee and approved by the Board from time to time and 41
iii. He shall be reimbursed out of pocket expenses as may permissible under Schedule – V of the Companies Act, 2013 and Either party may terminate the agreement by giving 3 (Three)
The terms of re-appointment and remuneration payable to be incurred by him in the course of discharging his the rules made thereunder or any amendment thereto. months’ notice in writing or remuneration in lieu thereof without
Mr. Vinod Kumar Gupta are as follows: duties in his capacity as Managing Director. showing any reason.
Perquisites: In addition to Salary, he shall be entitled to the
Salary: ` 12,50,000/- per month with an increment/revision iv. Mr. Vinod Kumar Gupta, as long as he function as such, following perquisites which, may be reviewed by the Board Your Board of Directors recommends the above resolution set

ESG approach
as may be recommended by the Nomination & Remuneration shall not be paid any sitting fee for attending meeting from time to time on recommendation by the Nomination & out in Item No. 5 of the accompanying notice for your approval.
Committee and approved by the Board from time to time and of the Board of Directors or any Committee thereof. Remuneration Committee:
permissible under Schedule – V of the Companies Act, 2013 and Mr. Vinod Kumar Gupta, Mr. Bajrang Kumar Gupta, Mr. Krishan
the rules made thereunder or any amendment thereto. v. He shall not be liable to retire by rotation. a. Rent Free Furnished Accommodation: He shall be provided Kumar Gupta and Mr. Ankit Gupta and other relatives of
with Rent free furnished accommodation for self and family. the Directors and KMPs are deemed to be financially or
Perquisites: In addition to Salary, he shall be entitled to the Either party may terminate the agreement by giving 3 otherwise, directly or indirectly, concerned or interested in the
following perquisites which, may be reviewed by the Board (Three) months’ notice in writing or remuneration in lieu b. Medical Reimbursement: Reimbursement of Medical above resolution.
from time to time on recommendation by the Nomination & thereof without showing any reason. expenses incurred for self and family on actual basis.
Remuneration Committee: Pursuant to Section 190 of the Companies Act, 2013, a copy
Your Board of Directors recommends the above resolution c. Leave Travel Concession: For self and family to and from of the letter of appointment issued to Mr. Binay Kumar Gupta,

Statutory reports
a. Rent Free Furnished Accommodation: He shall be provided set out in Item No. 4 of the accompanying notice for any place in India, once in a year in accordance with the Managing Director is open for inspection at the Registered office
with Rent free furnished accommodation for self and family. your approval. rules of the Company. of the Company during business hours till the conclusion of the
ensuing Annual General Meeting.
b. Medical Reimbursement: Reimbursement of Medical Mr. Binay Kumar Gupta, Mr. Bajrang Kumar Gupta, d. Clubs Fees: Fees of Clubs shall be subject to a maximum
expenses incurred for self and family on actual basis. Mr. Krishan Kumar Gupta and Mr. Ankit Gupta and other of two clubs, provided that no life membership or admission Item No. 6:
relatives of the Directors and KMPs are deemed to be fee shall be paid by Company.
The terms of appointment of Mr. Bajrang Kumar Gupta as a
c. Leave Travel Concession: For self and family to and from financially or otherwise, directly or indirectly, concerned or
Whole-time Director would expire on 31 August, 2021. The Board
any place in India, once in a year in accordance with the interested in the above resolution. Personal Accident Insurance: Premium not to exceed
e. 
of Directors of the Company (the ‘Board’), at its meeting held
rules of the Company. ` 1,00,000/ - per annum.
on 29 May, 2021, subject to provisions of Sections 196 and
Pursuant to Section 190 of the Companies Act, 2013, a

Financial statements
197 read with Schedule V and all other applicable provisions
d. Clubs Fees: Fees of Clubs shall be subject to a maximum copy of the letter of appointment issued to Mr. Vinod Kumar f. Gratuity: Gratuity payable shall not exceed half of a month’s
of the Companies Act, 2013, the Companies (Appointment and
of two clubs, provided that no life membership or admission Gupta, Managing Director is open for inspection at the salary for each completed year of service.
Remuneration of Managerial Personnel) Rules, 2014, Articles
fee shall be paid by Company. Registered office of the Company during business hours till
of Association of the Company and subject to the approval of
the conclusion of the ensuing Annual General Meeting. g.  ar & Telephone: He shall be provided car with driver and
C
members in the Annual General Meeting, has re-appointed
telephone at his residence for company’s business as

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Mr. Bajrang Kumar Gupta as a Whole-time Director, for a period of per the Income Tax Rules, 1962, casual and sick leave It is proposed to seek the members’ approval for the re- iii. He shall be reimbursed out of pocket expenses as may
5 (five) years w.e.f. 1 September, 2021, on the terms & conditions on full pay and allowance as per rules of the Company. appointment of and remuneration payable to Mr. Krishan be incurred by him in the course of discharging his
and at the remuneration as recommended by the Nomination Kumar Gupta as Whole-time Director, in terms of the applicable duties in his capacity as a Whole-time Director.
and Remuneration Committee of the Company and approved by ii. He shall be entitled to reimbursement of traveling, provisions of the Act and the rules made thereunder.
the Board. entertainment and all other expenses actually and iv. Mr. Krishan Kumar Gupta, as long as he function
properly incurred for legitimate business need of the The terms of re-appointment and remuneration payable to as such, shall not be paid any sitting fee for
It is proposed to seek the members’ approval for the Company but subject to rules of the Company framed Mr. Krishan Kumar Gupta are as follows: attending meeting of the Board of Directors or any
re‑appointment of and remuneration payable to Mr. Bajrang from time to time. Committee thereof.

Our performance
Kumar Gupta as Whole-time Director, in terms of the applicable Salary: ` 10,00,000/- per month with an increment/revision
provisions of the Act and the rules made thereunder. iii. He shall be reimbursed out of pocket expenses as may as may be recommended by the Nomination & Remuneration v. He shall be liable to retire by rotation under applicable
be incurred by him in the course of discharging his Committee and approved by the Board from time to time and provisions of the Companies Act, 2013.
The terms of re-appointment and remuneration payable to duties in his capacity as a Whole-time Director. permissible under Schedule – V of the Companies Act, 2013 and
Mr. Bajrang Kumar Gupta are as follows: the rules made thereunder or any amendment thereto. Either party may terminate the agreement by giving 3 (Three)
iv. Mr. Bajrang Kumar Gupta, as long as he function months’ notice in writing or remuneration in lieu thereof without
Salary: ` 10,00,000/- per month with an increment/revision as such, shall not be paid any sitting fee for Perquisites: In addition to Salary, he shall be entitled to the showing any reason.
as may be recommended by the Nomination & Remuneration attending meeting of the Board of Directors or any following perquisites which, may be reviewed by the Board
Committee and approved by the Board from time to time and Committee thereof. from time to time on recommendation by the Nomination & Your Board of Directors recommends the above resolution set
permissible under Schedule – V of the Companies Act, 2013 and Remuneration Committee: out in Item No. 7 of the accompanying notice for your approval.

Strategic priorities
the rules made thereunder or any amendment thereto. v. He shall be liable to retire by rotation under applicable
provisions of the Companies Act, 2013. a. Rent Free Furnished Accommodation: He shall be provided Mr. Vinod Kumar Gupta, Mr. Binay Kumar Gupta, Mr. Bajrang Kumar
Perquisites: In addition to Salary, he shall be entitled to the with Rent free furnished accommodation for self and family. Gupta and Mr. Ankit Gupta and other relatives of the Directors
following perquisites which, may be reviewed by the Board Either party may terminate the agreement by giving 3 (Three) and KMPs are deemed to be financially or otherwise, directly or
from time to time on recommendation by the Nomination & months’ notice in writing or remuneration in lieu thereof without b. Medical Reimbursement: Reimbursement of Medical indirectly, concerned or interested in the above resolution.
Remuneration Committee: showing any reason. expenses incurred for self and family on actual basis.
Pursuant to Section 190 of the Companies Act, 2013, the copy
a. Rent Free Furnished Accommodation: He shall be provided Your Board of Directors recommends the above resolution set c. Leave Travel Concession: For self and family to and from of the letter of appointment issued to Mr. Krishan Kumar Gupta,
with Rent free furnished accommodation for self and family. out in Item No. 6 of the accompanying notice for your approval. any place in India, once in a year in accordance with the Whole-time Director is open for inspection at the Registered
42 43
rules of the Company. office of the Company during business hours till the conclusion
b. Medical Reimbursement: Reimbursement of Medical Mr. Vinod Kumar Gupta, Mr. Binay Kumar Gupta, Mr. Krishan of the ensuing Annual General Meeting
expenses incurred for self and family on actual basis. Kumar Gupta and Mr. Ankit Gupta and other relatives of d. Clubs Fees: Fees of Clubs shall be subject to a maximum
the Directors and KMPs are deemed to be financially or of two clubs, provided that no life membership or admission Item No. 8:
c. Leave Travel Concession: For self and family to and from otherwise, directly or indirectly, concerned or interested in the fee shall be paid by Company.
The Board, on the recommendation of the Audit Committee,

ESG approach
any place in India, once in a year in accordance with the above resolution.
has approved the appointment of M/s. Santiram Chattopadhyay
rules of the Company. Personal Accident Insurance: Premium not to exceed
e. 
& Associates, Cost Auditors, to conduct the audit of the cost
Pursuant to Section 190 of the Companies Act, 2013, a copy of ` 1,00,000/ - per annum.
records of the Company for the financial year 2021-22 at a
d. Clubs Fees: Fees of Clubs shall be subject to a maximum the letter of appointment issued to Mr. Bajrang Kumar Gupta,
remuneration of ` 1.50 Lacs plus applicable taxes and out of
of two clubs, provided that no life membership or admission Whole-time Director is open for inspection at the Registered f. Gratuity: Gratuity payable shall not exceed half of a month’s
pocket expenses, if any as their audit fees.
fee shall be paid by Company. office of the Company during business hours till the conclusion salary for each completed year of service.
of the ensuing Annual General Meeting.
In accordance with the provisions of Section 148 of the
Personal Accident Insurance: Premium not to exceed
e.  g. Car & Telephone: He shall be provided car with driver and
Companies Act, 2013, read with the Companies (Audit and
` 1,00,000/ - per annum. Item No. 7: telephone at his residence for company’s business as
Auditors) Rules, 2014, the remuneration payable to the Cost
well as for personal use. However, long distance calls for
The terms of appointment of Mr. Krishan Kumar Gupta as a Auditors needs to be ratified by the shareholders of the Company
f. Gratuity: Gratuity payable shall not exceed half of a month’s personal use will be billed by the Company.

Statutory reports
Whole-time Director would expire on 31 August, 2021. The Board in the general meeting. Accordingly, consent of the members is
salary for each completed year of service.
of Directors of the Company (the ‘Board’), at its meeting held sought for passing the Resolution as set out in Item No. 8 of the
h. Other Benefits:
on 29 May, 2021, subject to provisions of Sections 196 and Notice for ratification of the remuneration payable to the Cost
g. Car & Telephone: He shall be provided car with driver and
197 read with Schedule V and all other applicable provisions i. Leave on full pay and allowances as per the rules of Auditors for the financial year 2021-22.
telephone at his residence for company’s business as
of the Companies Act, 2013, the Companies (Appointment and the Company but not more than one month’s leave
well as for personal use. However, long distance calls for
Remuneration of Managerial Personnel) Rules, 2014, Articles for every eleven months’ of services. However, leave Your Board of Directors recommends the above Ordinary
personal use will be billed by the Company.
of Association of the Company and subject to the approval of accumulated but not availed of shall be dealt with as Resolution set out in Item No. 8 of the accompanying notice for
members in the Annual General Meeting, has re-appointed per the Income Tax Rules, 1962, casual and sick leave your approval.
h. Other Benefits:
Mr. Krishan Kumar Gupta as a Whole-time Director, for a period of on full pay and allowance as per rules of the Company.
i. Leave on full pay and allowances as per the rules of 5 (five) years w.e.f. 1 September, 2021, on the terms & conditions None of the Directors of the Company or any Key Managerial

Financial statements
the Company but not more than one month’s leave and at the remuneration as recommended by the Nomination ii. He shall be entitled to reimbursement of traveling, Personnel or their relatives are in any way, financially or
for every eleven months’ of services. However, leave and Remuneration Committee of the Company and approved by entertainment and all other expenses actually and otherwise, directly or indirectly, concerned or interested in the
accumulated but not availed of shall be dealt with as the Board. properly incurred for legitimate business need of the said resolution.
Company but subject to rules of the Company framed
from time to time.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Item No. 9: Accordingly, the Board of Directors recommends the resolution After receiving the login details, they have to create a on the website of the Company at www.dollarglobal.in. The
set out in Item No. 9 for your approval by an Ordinary Resolution. compliance user using the admin login and password. The same can also be accessed from the websites of the Stock
As per the provisions of sections 20 of the Companies Act, 2013,
Compliance user would be able to link the account(s) for Exchanges i.e. National Stock Exchange of India Limited at
a document which are required to be served under the Act, may
None of the Directors and Key Managerial Personnel (including which they wish to vote on. www.nseindia.com, BSE Ltd. at www.bseindia.com and on
be served on any member by sending it to him/her by post or by
relatives of directors or Key Managerial Personnel) of the the website of CDSL i.e. www.evotingindia.com.
registered post or by speed post or by courier or by delivering
Company is concerned or interested, financially or otherwise, in The list of accounts should be mailed to helpdesk.evoting@
to his/her address, or by such electronic or other mode as may
this resolution. cdslindia.com and on approval of the accounts they would 15. In terms of the provisions of Section 108 of the Act, read with
be prescribed. Further, a member may request for delivery of
be able to cast their vote. Rule 20 of the Companies (Management and Administration)

Our performance
any document through a particular mode, for which he shall pay
Amendment Rules, 2015 (as amended from time to time)
such fees in advance as may be determined by the company in
A scanned copy of the Board Resolution and Power of and Regulation 44 of the SEBI Listing Regulations and the
its annual general meeting. The Board has proposed to charge
Attorney (POA) which they have issued in favour of the said Circulars, the Company is pleased to provide the facility
actual estimated expenses for the purpose.
Custodian, if any, should be uploaded in PDF format in the of “e-voting” to its Shareholders, to enable them to cast
system for the scrutinizer to verify the same. their votes on the resolutions proposed to be passed at the
AGM, by electronic means. The instructions for e-voting are
11. Shareholders can also cast their vote using CDSL’s mobile given herein below. The Company has engaged the services
NOTES: Institutional Investors, Directors, Key Managerial Personnel,
app m-Voting available for android based mobiles. The of Central Depository Services (India) Limited (“CDSL”),
the Chairpersons of the Audit Committee, Nomination and
1. In view of the massive outbreak of the COVID-19 pandemic, m-Voting app can be downloaded from Google Play Store. who will provide the e-voting facility of casting votes to a
Remuneration Committee and Stakeholders Relationship
social distancing is a norm to be followed, the government iPhone and Windows phone users can download the Shareholder using remote e-voting system (e-voting from a
Committee, Auditors etc. who are allowed to attend the

Strategic priorities
of India, Ministry of Corporate Affairs allowed conduction app from the App Store and the Windows Phone Store place other than venue of the AGM) (“remote e-voting”) as
AGM without restriction on account of first come first
Annual General Meeting through video conferencing (VC) or respectively. Please follow the instructions as prompted by well as e-voting during the proceeding of the AGM (“e-voting
served basis.
other audio-visual means (OAVM) and dispensed personal the mobile app while voting on your mobile. at the AGM”).
presence of the members at the meeting. Accordingly,
5. The notice of Annual General Meeting will be sent to the
the Ministry of Corporate Affairs issued Circular dated 13 12. An Explanatory Statement pursuant to Section 102(1) 16. The Register of Members and Share Transfer Books of the
members, whose names appear in the register of members
January, 2021 read with circulars dated 8 April, 2020, 13 of the Companies Act, 2013, in respect of the Special Company will remain closed from Thursday, 22 July, 2021
/ depositories as at closing hours of business, on 25 June,
April, 2020 and 5 May 2020 (collectively referred to as Business to be transacted at the Annual General Meeting to Wednesday, 28 July, 2021, both days inclusive.
2021.
“MCA Circulars”), and the Securities and Exchange Board is annexed hereto.
of India (Listing Obligations and Disclosure Requirements) 17. In accordance with Section 108 of the Act read with Rule
44 6. The attendance of the Shareholders attending the AGM 45
Regulations, 2015 (“SEBI Listing Regulations”), prescribing 13. The profile of the Directors seeking appointment/re- 20 of the Companies (Management and Administration)
through VC/ OAVM will be counted for the purpose of
the procedures and manner of conducting the Annual appointment, as required in terms of applicable Regulations Amendment Rules, 2015, the Company has fixed
reckoning the quorum under Section 103 of the Act.
General Meeting through VC/OAVM. In terms of the said of Securities & Exchange Board of India (Listing Obligations Wednesday, 21 July, 2021 as the “cut-off date” to determine
Circulars, the 28 th Annual General Meeting (AGM) of the and Disclosure Requirements) Regulations, 2015 entered the eligibility to vote by remote e-voting or e-voting at the
7. Members can raise questions during the meeting or in
members would be held through video conferencing (VC) with the Stock Exchange is annexed hereto and forms part AGM. A person whose name is recorded in the Register of
advance at [email protected]. The members are

ESG approach
or other audio-visual means (OAVM). Hence, Members of this Notice. Members or in the Register of Beneficial Owners maintained
requested to write to the Company atleast 3 days before the
can attend and participate in the AGM through VC/ by the depositories as on the cut-off date, i.e., Wednesday,
AGM, through email to [email protected] for proper
OAVM only, the detailed procedure for participating in 14. In view of the COVID-19 pandemic, resultant difficulties 21 July, 2021, shall be entitled to avail the facility of remote
response in the AGM. However, it is requested to raise the
the meeting through VC/OAVM is annexed herewith (refer involved in dispatching of physical copies of the Annual e-voting or e-voting at the AGM. The Members desiring to
queries precisely and in short at the time of meeting to
serial no. 32) and available at the Company’s Website Report and in line with the said Circulars issued by the MCA vote through remote e-voting are requested to refer to the
enable to answer the same.
www.dollarglobal.in. and said SEBI Circular, the Annual Report including Notice detailed procedure given at Serial no. 30. Members whose
of the 28th AGM of the Company inter alia indicating the email ids are not registered with the depositories for
8. Corporate members are requested to send at nichetechpl@
The deemed venue for the AGM shall be the Registered process and manner of e-voting is being sent only by Email, procuring user id and password and registration of email-
nichetechpl.com before e-voting/ attending annual general
Office of the Company. to all the Shareholders whose Email IDs are registered with ids for e-voting for the resolutions are requested to refer the
meeting, a duly certified copy of the Board Resolution
the Company/ Depository Participant(s) for communication instructions provided at serial no.31.
authorising their representative to attend and vote at
2. The helpline number regarding any query/assistance for purposes to the Shareholders and to all other persons

Statutory reports
the Annual General Meeting, pursuant to Sec 113 of the
participation in the AGM through VC/OAVM is 1800-225- so entitled. 18. Investors who became members of the Company subsequent
Companies Act, 2013.
533. to the dispatch of the Notice / Email and holds the shares
Members (Physical/ Demat) who have not registered their as on the cut-off date i.e. 21 July, 2021 are requested to
9. In case of joint holders attending the Meeting, only such
3. Since, the AGM is being conducted through VC/ OAVM, there email addresses with the company can get the same send the duly signed written / email communication to the
joint holder who is higher in the order of names will be
is no provision for appointment of proxies. Accordingly, registered with the company by requesting in member Company at [email protected] and to the RTA at
entitled to vote.
appointment of proxies by the members will not be available. updation form by sending an email to nichetechpl@ [email protected] by mentioning their Folio No.
nichetechpl.com and [email protected]. Please / DP ID and Client ID to obtain the Login-ID and Password
10. Note for Institutional Shareholders:
4. The Shareholders can join the AGM in the VC/ OAVM mode submit duly filled and signed member updation form to the for e-voting.
15 minutes before and after the scheduled time of the Institutional shareholders (i.e., other than Individuals, HUF, abovementioned email. Upon verification of the Form the

Financial statements
commencement of the Meeting by following the procedure NRI, etc.) are required to log on to https://www.evotingindia. email will be registered with the Company. 19. Those Shareholders, who will be present at the AGM through
mentioned herein below in the Notice. The facility of com and register themselves as Corporates. VC/ OAVM facility and who would not have cast their vote
participation at the AGM through VC/OAVM will be made Further, in terms of the applicable provisions of the Act, by remote e-voting prior to the AGM and are otherwise
available to atleast 1000 shareholders on first come first A scanned copy of the Registration Form bearing the stamp SEBI Listing Regulations read with the said Circulars issued not barred from doing so, shall be eligible to vote through
served basis. This will not include large Shareholders and sign of the entity should be emailed to helpdesk. by MCA and said SEBI Circular, the Annual Report including e-voting system at the AGM.
(Shareholders holding 2% or more shareholding), Promoters, [email protected]. Notice of the 28th AGM of the Company will also be available

Annual Report 2020-21

 Dollar Industries Limited

Who we are
20. The Company has appointed Mr. S. K. Tibrewalla, Fund (IEPF) Suspense Account. The Company has no such iv. In terms of SEBI circular No.: SEBI/HO/CFD/CMD/CIR/P/2020/242 dated 9 December, 2020 on e-Voting facility provided by
Membership No. F3811 & Certificate of Practice No. 3982, shares on which dividend has not been claimed or paid for Listed Companies, Individual shareholders holding securities in demat mode are allowed to vote through their demat account
Company Secretaries in practice, as the Scrutinizer to a consecutive period of seven years. maintained with Depositories and Depository Participants. Shareholders are advised to update their mobile number and email
scrutinize the remote e-voting and the e-voting at the AGM Id in their demat accounts in order to access e-Voting facility.
in a fair and transparent manner. 27. The Register of Directors’ and Key Managerial Personnel
and their shareholding maintained of the Companies Act, Pursuant to above said SEBI Circular, Login method for e-Voting and joining virtual meetings for Individual shareholders holding
21. Institutional Members / Bodies Corporate (i.e. other than under Section 189 of the Companies Act, 2013 and all securities in Demat mode is given below:
individuals, HUF, NRI etc.) are required to send scanned other documents referred to in the notice will be available

Our performance
Type of shareholders Login Method
copy (PDF/JPG Format) of the relevant Board Resolution for inspection in electronic mode. Members can inspect the Individual Shareholders 1) Users of who have opted for CDSL’s Easi / Easiest facility, can login through their existing user id and
/ Authority letter etc. together with attested specimen same by sending an email to [email protected]. holding securities in Demat password. Option will be made available to reach e-Voting page without any further authentication. The URLs
signature of the duly authorised signatory (ies) who are mode with CDSL for users to login to Easi / Easiest are https://web.cdslindia.com/myeasi/home/login or www.cdslindia.com
authorised to vote through e-mail at santibrewalla@gmail. 28. Members who are present in meeting through video and click on Login icon and select New System Myeasi.
com with a copy mark to [email protected] conferencing facility and have not casted their vote on 2) After successful login the Easi / Easiest user will be able to see the e-Voting Menu. On clicking the e-voting
on or before 24th July, 2021 upto 5.00 P.M. without which resolutions through remote e- voting, shall be allowed to menu, the user will be able to see his/her holdings alongwith links of the respective e-Voting service provider
the vote shall not be treated as valid. vote through e-voting system during the meeting. i.e., CDSL/NSDL/ KARVY/ LINK INTIME as per information provided by Issuer / Company. Additionally, we
are providing links to e-Voting Service Providers, so that the user can visit the e-Voting service providers’ site
directly.
22. Shareholders holding shares in identical order of names in 29. S
 ubject to casting of requisite number of votes in favour
more than one folio, are requested to write to the Company of the resolution(s), the resolution(s) shall be deemed 3) If the user is not registered for Easi /Easiest, option to register is available at https://web.cdslindia.com/

Strategic priorities
or to the office of the Registrar & share Transfer Agent, M/s to be passed on the date of Annual General Meeting of myeasi./Registration/EasiRegistration
Niche Technologies Private Limited, 3A, Auckland Place, the Company. 4) Alternatively, the user can directly access e-Voting page by providing Demat Account Number and PAN No.
Room Nos. 7A & 7B, 7th Floor, Kolkata- 700017, enclosing from a link in www.cdslindia.com home page. The system will authenticate the user by sending OTP on
their share certificate to enable the Company to consolidate 30. THE INTRUCTIONS FOR SHAREHOLDERS FOR REMOTE registered Mobile & Email as recorded in the Demat Account. After successful authentication, user will be
their holdings in one single folio. E-VOTING ARE AS UNDER: provided links for the respective ESP where the e-Voting is in progress during or before the AGM.
Individual Shareholders 1) If you are already registered for NSDL IDeAS facility, please visit the e-Services website of NSDL. Open
i. The voting period begins on 25 July, 2021 at 9:00 A.M. holding securities in demat web browser by typing the following URL: https://eservices.nsdl.com either on a Personal Computer or
23. The Dividend for the financial year ended 31 March, 2021,
and ends on 27 July, 2021 at 5:00 P.M. During this period mode with NSDL on a mobile. Once the home page of e-Services is launched, click on the “Beneficial Owner” icon under
as recommended by the Board, if approved at the AGM, will
shareholders’ of the Company, holding shares either in “Login” which is available under ‘IDeAS’ section. A new screen will open. You will have to enter your User ID
be paid within 30 days of declaration, to those Members and Password. After successful authentication, you will be able to see e-Voting services. Click on “Access
46 physical form or in dematerialised form, as on the cut-off 47
whose name appears in the Register of Members of the to e-Voting” under e-Voting services and you will be able to see e-Voting page. Click on company name or
date (record date) of 21 July, 2021 may cast their vote
Company as on the record date, i.e. Wednesday, 21 July, e-Voting service provider name and you will be re-directed to e-Voting service provider website for casting
electronically. The e-voting module shall be disabled by
2021. Members can submit details with the company for your vote during the remote e-Voting period or joining virtual meeting & voting during the meeting.
CDSL for voting thereafter.
receiving dividend directly in their bank accounts through 2) If the user is not registered for IDeAS e-Services, option to register is available at https://eservices.nsdl.com.
Electronic Clearing Services (ECS) by writing an email at Select “Register Online for IDeAS “Portal or click at https://eservices.nsdl.com/SecureWeb/IdeasDirectReg.jsp
ii. Shareholders who have already voted prior to the meeting

ESG approach
[email protected]. In case any member is unable to
date would not be entitled to vote at the meeting venue. 3) Visit the e-Voting website of NSDL. Open web browser by typing the following URL: https://www.evoting.nsdl.
submit their details for remittance of dividend through ECS,
com/ either on a Personal Computer or on a mobile. Once the home page of e-Voting system is launched,
there dividend warrants/cheque shall be dispatched upon click on the icon “Login” which is available under ‘Shareholder/Member’ section. A new screen will open.
iii. Pursuant to SEBI Circular No.: SEBI/HO/CFD/CMD/
normalisation of the postal services, post covid-19. You will have to enter your User ID (i.e., your sixteen-digit demat account number hold with NSDL), Password/
CIR/P/2020/242 dated 09.12.2020, under Regulation 44 of
OTP and a Verification Code as shown on the screen. After successful authentication, you will be redirected
Securities and Exchange Board of India (Listing Obligations
24. Members holding shares in physical form are requested to to NSDL Depository site wherein you can see e-Voting page. Click on company name or e-Voting service
and Disclosure Requirements) Regulations, 2015 listed provider name and you will be redirected to e-Voting service provider website for casting your vote during the
notify immediately any change in their address/mandate/
entities are required to provide remote e-voting facility to remote e-Voting period or joining virtual meeting & voting during the meeting
bank details to the Company or to the office of the Registrar
its shareholders, in respect of all shareholders’ resolutions. Individual Shareholders You can also login using the login credentials of your demat account through your Depository Participant
& Share Transfer Agent, M/s Niche Technologies Private
However, it has been observed that the participation by the (holding securities in demat registered with NSDL/CDSL for e-Voting facility. After successful login, you will be able to see e-Voting option.
Limited, quoting their folio number. The Members updation
public non-institutional shareholders/retail shareholders is mode) login through their Once you click on e-Voting option, you will be redirected to NSDL/CDSL Depository site after successful
form forms a part of the Annual Report and is available on

Statutory reports
at a negligible level. Depository Participants authentication, wherein you can see e-Voting feature. Click on company name or e-Voting service provider name
the website of the Company. and you will be redirected to e-Voting service provider’s website for casting your vote during the remote e-Voting
period or joining virtual meeting & voting during the meeting.
Currently, there are multiple e-voting service providers
25. Pursuant to the provisions of the Companies Act, 2013,
(ESPs) providing e-voting facility to listed entities in
dividend for the year ended 31 March, 2021 and thereafter,
India. This necessitates registration on various ESPs and Important note: Members who are unable to retrieve User ID/ Password are advised to use Forget User ID and Forget
which remains unpaid or unclaimed for a period of seven
maintenance of multiple user IDs and passwords by the Password option available at abovementioned website.
years will be transferred to the Investor Education and
shareholders. In order to increase the efficiency of the
Protection Fund (IEPF) of the Central Government.
voting process, pursuant to a public consultation, it has Helpdesk for Individual Shareholders holding securities in demat mode for any technical issues related to login through
been decided to enable e-voting to all the demat account Depository i.e., CDSL and NSDL
26. Pursuant to the provisions of Investor Education and
holders, by way of a single login credential, through their

Financial statements
Protection Fund Authority (Accounting, Audit, Transfer and Login type Helpdesk details
demat accounts/ websites of Depositories/ Depository
Refund) Rules, 2016 (‘The Rules”) notified any the Ministry Individual Shareholders Members facing any technical issue in login can contact CDSL helpdesk by sending a request at helpdesk.
Participants. Demat account holders would be able to cast
of Corporate Affairs effective 7 September, 2016, all shares holding securities in Demat [email protected] or contact at 022- 23058738 and 22-23058542-43.
their vote without having to register again with the ESPs, mode with CDSL
in respect of which dividend has not been paid or claimed by
thereby, not only facilitating seamless authentication but Individual Shareholders Members facing any technical issue in login can contact NSDL helpdesk by sending a request at evoting@nsdl.
the shareholders for seven consecutive years or more would
also enhancing ease and convenience of participating in holding securities in Demat co.in or call at toll free no.: 1800 1020 990 and 1800 22 44 30
be transferred to the Investor Education and Protection
e-voting process. mode with NSDL

Annual Report 2020-21

 Dollar Industries Limited

Who we are
v. Login method for e-Voting and joining virtual meeting for For shareholders holding shares in physical form, the details iii. The Company/RTA shall co-ordinate with CDSL and 33. INSTRUCTIONS FOR SHAREHOLDERS FOR E-VOTING
shareholders other than individual shareholders & can be used only for e-voting on the resolutions contained would provide the login credentials to the above- DURING THE AGM ARE AS UNDER:-
physical shareholders. in this Notice. mentioned shareholders.
1. The procedure for e-Voting on the day of the AGM is same
as the instructions mentioned above for Remote e-voting.
The shareholders should log on to the e-voting website Click on the EVSN for the relevant DOLLAR INDSUTRIES 32. INSTRUCTIONS FOR SHAREHOLDERS ATTENDING THE
www.evotingindia.com. LIMITED on which you choose to vote. AGM THROUGH VC/OAVM ARE AS UNDER:
2. Only those shareholders, who are present in the AGM
i. The procedure for attending meeting & e-Voting on the day through VC/OAVM facility and have not casted their vote on
Click on “Shareholders” module. On the voting page, you will see “RESOLUTION DESCRIPTION”

Our performance
of the AGM is same as the instructions mentioned above the Resolutions through remote e-Voting and are otherwise
and against the same the option “YES/NO” for voting. Select
for Remote e-voting. not barred from doing so, shall be eligible to vote through
Now enter your User ID the option YES or NO as desired. The option YES implies that
e-Voting system available during the AGM.
you assent to the Resolution and option NO implies that you
a. For CDSL: 16 digits beneficiary ID, ii. Shareholder will be provided with a facility to attend the
dissent to the Resolution.
AGM through VC/OAVM through the CDSL e-Voting system. 3. If any Votes are cast by the shareholders through the
b. For NSDL: 8 Character DP ID followed by 8 Digits
Shareholders may access the same at https://www. e-voting available during the AGM and if the same
Client ID, Click on the “RESOLUTIONS FILE LINK” if you wish to view
evotingindia.com under shareholders/members login by shareholders have not participated in the meeting through
the entire Resolution details.
c. Shareholders holding shares in Physical Form should using the remote e-voting credentials. The link for VC/OAVM VC/OAVM facility, then the votes cast by such shareholders
enter Folio Number registered with the Company. will be available in shareholder/members login where the shall be considered invalid as the facility of e-voting during
After selecting the resolution, you have decided to vote on,
EVSN of Company will be displayed. the meeting is available only to the shareholders attending
click on “SUBMIT”. A confirmation box will be displayed. If
Next enter the Image Verification as displayed and Click the meeting.

Strategic priorities
you wish to confirm your vote, click on “OK”, else to change
on Login. iii. Shareholders are encouraged to join the Meeting through
your vote, click on “CANCEL” and accordingly modify
Laptops / iPads for better experience. 4. Shareholders who have voted through Remote e-Voting will
your vote.
If you are holding shares in demat form and had logged on be eligible to attend the AGM. However, they will not be
to www.evotingindia.com and voted on an earlier e-voting iv. Further shareholders will be required to allow Camera and eligible to vote at the AGM.
Once you “CONFIRM” your vote on the resolution, you will
of any company, then your existing password is to be used. use Internet with a good speed to avoid any disturbance
not be allowed to modify your vote.
during the meeting. 34. NOTE FOR NON – INDIVIDUAL SHAREHOLDERS AND
If you are a first-time user follow the steps given below: CUSTODIANS
You can also take a print of the votes cast by clicking on
v. Please note that Participants Connecting from Mobile
For Shareholders holding shares in Demat Form other “Click here to print” option on the Voting page. • Non-Individual shareholders (i.e. other than Individuals,
48 Devices or Tablets or through Laptop connecting via Mobile 49
than individual and Physical Form HUF, NRI etc.) and Custodians are required to log on to
PAN Enter your 10-digit alpha-numeric *PAN issued by
Hotspot may experience Audio/Video loss due to Fluctuation
If a demat account holder has forgotten the login password, www.evotingindia.com and register themselves in the
Income Tax Department (Applicable for both demat in their respective network. It is therefore recommended to
then Enter the User ID and the image verification code and “Corporates” module.
shareholders as well as physical shareholders) use Stable Wi-Fi or LAN Connection to mitigate any kind of
click on Forgot Password & enter the details as prompted
aforesaid glitches. • A scanned copy of the Registration Form bearing the
Shareholders who have not updated their PAN with by the system.
stamp and sign of the entity should be emailed to

ESG approach
the Company/Depository Participant are requested
to use the sequence number which is printed on vi. Shareholders who would like to express their views/ask [email protected].
Shareholders can also cast their vote using CDSL’s mobile
Postal Ballot / Attendance Slip indicated in the PAN questions during the meeting may register themselves as a
app “m-Voting”. The m-Voting app can be downloaded from • After receiving the login details a Compliance User
field. speaker by sending their request atleast 3 (three) days prior
respective Store. Please follow the instructions as prompted should be created using the admin login and password.
Dividend Enter the Dividend Bank Details or Date of Birth to meeting mentioning their name, demat account number/
Bank (in dd/mm/yyyy format) as recorded in your demat
by the mobile app while Remote Voting on your mobile. The Compliance User would be able to link the account(s)
folio number, email id, mobile number at company’s email
Details account or in the company records in order to login. for which they wish to vote on.
id. The shareholders who do not wish to speak during the
OR 31. 
PROCESS FOR THOSE SHAREHOLDERS WHOSE
If both the details are not recorded with the AGM but have queries may send their queries in advance • The list of accounts linked in the login should be mailed
Date of EMAIL ADDRESSES ARE NOT REGISTERED WITH THE
Birth (DOB)
depository or company, please enter the member id 3 days prior to meeting mentioning their name, demat to [email protected] and on approval of
/ folio number in the Dividend Bank details field as
DEPOSITORIES FOR OBTAINING LOGIN CREDENTIALS
account number/folio number, email id, mobile number at the accounts they would be able to cast their vote.
mentioned in instruction (v). FOR E-VOTING FOR THE RESOLUTIONS PROPOSED IN
company’s email id. These queries will be replied to by the
THIS NOTICE: • A scanned copy of the Board Resolution and Power of

Statutory reports
Company suitably by email.
Attorney (POA) which they have issued in favour of the
After entering these details appropriately, click on i. For Physical shareholders- please provide necessary
Custodian, if any, should be uploaded in PDF format in
“SUBMIT” tab. details like Folio No., Name of shareholder, scanned copy vii. Those shareholders who have registered themselves as
the system for the scrutinizer to verify the same.
of the share certificate (front and back), PAN (self-attested a speaker will only be allowed to express their views/ask
Shareholders holding shares in physical form will then scanned copy of PAN card), AADHAR (self-attested scanned questions during the meeting. • Alternatively, Non Individual shareholders are required to
directly reach the Company selection screen. However, copy of Aadhar Card) by email to Company/RTA email id. send the relevant Board Resolution/ Authority letter etc.
shareholders holding shares in demat form will now reach viii. All grievances connected with the facility for voting by together with attested specimen signature of the duly
‘Password Creation’ menu wherein they are required to ii. For Demat shareholders please provide Demat account electronic means may be addressed to Mr. Rakesh Dalvi, authorised signatory who are authorised to vote, to the
mandatorily enter their login password in the new password details (CDSL-16-digit beneficiary ID or NSDL-16 digit DPID + Manager, Central Depository Services (India) Limited Scrutinizer and to the Company at the email address viz.
field. Kindly note that this password is to be also used by CLID), Name, client master or copy of Consolidated Account (CDSL), A Wing, 25th Floor, Marathon Futurex, Mafatlal Mill [email protected] and investors@dollarglobal.

Financial statements
the demat holders for voting for resolutions of any other statement, PAN (self-attested scanned copy of PAN card), Compounds, N M Joshi Marg, Lower Parel (East), Mumbai in (designated email address by company), if they have
company on which they are eligible to vote, provided AADHAR (self-attested scanned copy of Aadhar Card) to - 400013 or send an email to helpdesk.evoting@cdslindia. voted from individual tab & not uploaded same in the
that company opts for e-voting through CDSL platform. Company/ RTA email id. com or call on 022-23058542/43. CDSL e-voting system for the scrutinizer to verify the
It is strongly recommended not to share your password same.
with any other person and take utmost care to keep your
password confidential.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
In case you have any queries or issues regarding e-voting, Dividend 3 Pursuant to Finance Act 2020, dividend income will be All equity shares of the Company on which dividend has
you may refer the Frequently Asked Questions (“FAQs”) taxable in the hands of Shareholders with effect from 1 not been paid or claimed for 7 (seven) consecutive years
1 The Board of Directors has recommended for consideration
and e-voting manual available at www.evotingindia.com, April, 2020 and the Company is required to deduct tax or more, shall be transferred by the Company to the IEPF
of the Shareholders a dividend of 120% i.e. ` 2.40 per
under help section or write an email to helpdesk.evoting@ at source from dividend paid to the Shareholders at the from time to time. Details of unpaid / unclaimed dividend
Equity share of the nominal value of ` 2/- each for the year
cdslindia.com or call 1800225533. prescribed rates. For the prescribed rates for various and equity shares transferred to IEPF are uploaded on the
ended 31 March, 2021.
categories, the Shareholders are requested to refer to website of the Company as well as that of the Ministry of
All grievances connected with the facility for voting by the Finance Act, 2020 and amendments thereof. The Corporate Affairs, Government of India (“MCA”), if any. No
2 The Register of Members and Share Transfer books of the
electronic means may be addressed to Mr. Rakesh Dalvi, Shareholders are requested to update their PAN with the claim shall lie against the Company in respect of unclaimed

Our performance
Company will remain closed from Thursday, 22 July, 2021
Manager, (CDSL) Central Depository Services (India) Company/ RTA (in case of shares held in physical mode) dividend amount and equity shares transferred to the IEPF
to Wednesday, 28 July, 2021 (both days inclusive), for the
Limited, A Wing, 25th Floor, Marathon Futurex, Mafatlal Mill and their respective Depository Participants (in case of and IEPF Suspense Account, respectively, pursuant to
purpose of AGM and Dividend. The Dividend, if declared, will
Compounds, N M Joshi Marg, Lower Parel (East), Mumbai shares held in dematerialised form). A Resident individual the IEPF Rules. Shareholders can however claim both the
be payable on or after Wednesday, 28 July, 2021, to those
– 400013 or send an email to helpdesk.evoting@cdslindia. shareholder with PAN and who is not liable to pay income unclaimed dividend amount and the equity shares from the
Shareholders whose names are registered as such in the
com or call 1800225533. tax can submit a yearly declaration in Form No. 15G/15H, to IEPF Authority by making an online application in web Form
Register of Members of the Company as on Wednesday,
avail the benefit of non-deduction of tax at source by Email No. IEPF-5, the details of which are available at www.iepf.
21 July, 2021 and to the beneficiary holders as per the
Other Information: to [email protected] by 20 July, 2021. Effective 1 gov.in.
beneficiary list as on Wednesday, 21 July, 2021 provided
April, 2020, as per the Income Tax Act, 1961, the dividend
1. Those persons, who have acquired shares and have become by the NSDL and CDSL, subject to deduction of tax at source
income is taxable in the hands of shareholders. Accordingly, • In terms of the provisions of Regulation 40 of SEBI
members of the Company after the dispatch of Notice of where applicable.
if any resident individual shareholder is in receipt of Listing Regulations and various notifications issued in
the AGM by the Company and whose names appear in the

Strategic priorities
dividend exceeding ` 5,000 in a fiscal year, entire dividend that regard, requests for effecting transfer of securities
Register of Members or Register of beneficial holders as Payment of Dividend through electronic means:
will be subject to TDS @ 7.5%. The rate of 7.5% is applicable (except in case of transmission or transposition of
on the cut-off date i.e. Wednesday, 21 July, 2021 shall view (a) The Company provides the facility to the Shareholders
provided the shareholder has updated his/ her Permanent securities) could not be processed since 1 April, 2019
the Notice of the 28th AGM on the Company’s website or on for remittance of dividend directly in electronic mode
Account Number (PAN) with the depository/ Registrar and unless the securities are held in the dematerialised form
the website of CDSL. Such persons may obtain the login ID through National Automated Clearing House (NACH).
Transfer Agent (RTA). Shareholders are requested to note with the depositories. In view of the same, Shareholders
and password by sending a request at helpdesk.evoting@ In view of the outbreak of the COVID-19 pandemic and
that in case their PAN is not registered, the tax will be are requested to take action to dematerialise the Equity
cdslindia.com. However, if he/she is already registered with resultant difficulties involved in dispatching of physical
deducted at a higher rate of 20%. Resident shareholders Shares of the Company/ RTA, promptly.
CDSL for remote e-voting then he/she can cast his/her vote dividend warrants, Shareholders holding shares in
who are eligible for deduction of TDS at a concessional or
by using existing User ID and password and by following the physical form and desirous of availing this facility • SEBI has mandated the submission of Permanent
Nil rate as per Section 197 of the Income-tax Act, 1961,
50 procedure as mentioned above or by voting at the AGM. of electronic remittance are requested to provide Account Number (PAN) by every participant in securities 51
can submit the certificate/letter issued by the Assessing
their latest bank account details (Core Banking market. Shareholders holding shares in dematerialised
Officer, to avail the benefit of lower rate of deduction or
2. Voting rights of the Members shall be in proportion to their Solutions Enabled Account Number, 9 digit MICR and form are, therefore, requested to submit their PAN to
non-deduction of tax at source by Email to investors@
shares in the paid-up equity share capital of the Company 11 digit IFSC Code), along with their Folio Number, the Depository Participants with whom they maintain
dollarglobal.in by 20 July, 2021. Non-resident Shareholders
as on the cut-off date i.e. Wednesday, 21 July, 2021. A to the Company. Shareholders holding shares in their demat accounts. Shareholders holding shares in
can avail beneficial rates under tax treaty between India and
person who is not a Member as on the cut-off date should dematerialised form are requested to provide the said physical form should submit their PAN to the Company/

ESG approach
their country of residence, subject to providing necessary
treat this Notice for information purposes only. details to their respective Depository Participants. RTA.
documents i.e. No Permanent Establishment and Beneficial
Ownership Declaration, Tax Residency Certificate, Form • Shareholders are requested to intimate changes, if
3. Every Client ID No./ Folio No. will have one vote, irrespective (b) In line with the General Circular No. 20/ 2020 dated 5
10F, any other document which may be required to avail any, pertaining to their name, postal address, Email
of number of joint holders. May, 2020 issued by the MCA, in case the Company is
the tax treaty benefits by sending an Email to investors@ ID, telephone / mobile numbers, PAN, mandates,
unable to pay the dividend to any shareholder by the
dollarglobal.in. The aforesaid declarations and documents nominations, power of attorney, bank details (such as
Scrutinizer’s Report and Declaration of results electronic mode, due to non-availability of their latest
need to be submitted by the Shareholders by 20 July, 2021. name of the bank and branch details, bank account
bank account details (Core Banking Solutions Enabled
1. The Scrutinizer shall, after the conclusion of e-voting at The aforesaid Form No. 15G/15H can be downloaded from number, MICR code, IFSC code, etc.), with necessary
Account Number, 9 digit MICR and 11 digit IFSC
the AGM, first count the votes cast vide e-voting at the website of the Company i.e. www.dollarglobal.in. documentary evidence, to their Depository Participants
Code), the Company/ RTA shall upon normalisation of
AGM and thereafter shall, unblock the votes cast through in case the shares are held by them in dematerialised
the postal services, dispatch the dividend warrant/
remote e-voting, in the presence of at least two witnesses 4 In terms of the provisions of Sections 124 and 125 of the form and to the Company/ RTA in case the shares are

Statutory reports
cheque to such shareholder by post.
not in the employment of the Company. He shall submit Act, dividend which remains unpaid/ unclaimed for a period held by them in physical form.
a Consolidated Scrutinizer’s Report of the total votes cast of 7 (seven) years from the date of declaration is required to
(c) Shareholders holding shares in dematerialised form • In terms of the provisions of Section 72 of the Act,
in favour or against, not later than 2 (two) working days of be transferred to the Investor Education and Protection Fund
are hereby informed that bank particulars registered the facility for making nomination is available for
the conclusion of the AGM, to the Chairman or a person (“IEPF”) established by the Central Government. Further,
against their respective depository accounts will be the Shareholders in respect of the shares held by
authorised by him in writing who shall countersign the same in terms of the provisions of Section 124 of the Act read
used by the Company/ RTA for payment of dividend. them. Shareholders who have not yet registered their
and declare the result of the voting forthwith. with the Investor Education and Protection Fund Authority
The Company/ RTA cannot act on any request received nomination are requested to register the same by
(Accounting, Audit, Transfer and Refund) Rules, 2016 (“IEPF
directly from the Shareholders holding shares in submitting Form No. SH-13. Shareholders holding
2. The results declared along with the Scrutinizer’s Report Rules”), Equity Shares, in respect of which dividend has
dematerialised form for any change of bank particulars shares in dematerialised form are requested to submit
shall be placed on the Company’s website www.hindcon. not been paid or claimed for 7 (seven) consecutive years
or bank mandates. Such changes are to be advised the said details to their Depository Participant(s) and

Financial statements
com and on the website of CDSL i.e. www.evotingindia.com. or more from the date of declaration, are also required be
only to the Depository Participant of the Shareholders. the Shareholders holding shares in physical form, are
The Company shall simultaneously forward the results to transferred to an account viz. IEPF Suspense Account, which
requested to submit the said details to the Company or
National Stock Exchange of India Limited (NSE) and BSE is operated by the IEPF Authority pursuant to the IEPF Rules.
Ltd. (BSE) where the shares of the Company are listed.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
RTA. The aforesaid Form No. SH 13 can be downloaded • Since the AGM will be held through Video Conferencing The disclosure of relationships between Directors inter se as required as per Regulation 36(3) of SEBI (Listing Obligations
from website of the Company i.e. www.dollarglobal.in or Other Audio-Visual Means, route map of venue of the and Disclosure Requirements) Regulations, 2015 and Secretarial Standard 2 issued by the Institute of Company
AGM and admission slip is not attached to this Notice. Secretaries of India are as follows:
• Shareholders are requested to quote their Folio No. or DP
ID – Client ID, as the case may be, in all correspondence Relationship between the Directors inter-se:
with the Company or the RTA. Name of Directors Name of Other Director and Nature of Relationship
Mr. Vinod Kumar Gupta Mr. Bajrang Kumar Gupta, Mr. Binay Kumar Gupta & Mr. Krishan Kumar Gupta - Brothers
Mr. Binay Kumar Gupta Mr. Bajrang Kumar Gupta, Mr. Vinod Kumar Gupta & Mr. Krishan Kumar Gupta - Brothers

Our performance
Mr. Bajrang Kumar Gupta Mr. Vinod Kumar Gupta, Mr. Binay Kumar Gupta & Mr. Krishan Kumar Gupta - Brothers
Mr. Krishan Kumar Gupta Mr. Vinod Kumar Gupta, Mr. Binay Kumar Gupta & Mr. Bajrang Kumar Gupta - Brothers
ANNEXURE TO NOTICE OF AGM Mr. Gopalakrishnan Sarankapani No relation with other Directors.
Details of the Directors seeking appointment/ re-appointment in forthcoming Annual General Meeting
[In pursuance to Regulation 36(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Secretarial
Standard II issued by the Institute of Company Secretaries of India]
List of listed Chairman/ Member of
No. of
Remuneration Shareholding Companies the Committee of the
Name of Director Date of Birth Date of Expertise in specific Board
last drawn Qualifications in the in which Board of other listed
& DIN & Age Appointment Functional areas Meetings
(` in Lacs) Company Directorships Companies in which

Strategic priorities
Attended
held * he is a Director *
Mr. Vinod 30/07/1966 30/03/1996 108.90 Expertise in the field of Chartered 2,45,590 4 1. Dollar NIL
Kumar Gupta Age: 54 years financial management, Accountant (Four) Industries
(DIN: 00877949) marketing management & Company Limited
& administration. He Secretary
is looking after overall
management of the
Company
Mr. Binay 20/06/1966 10/01/2005 105.90 Looking after production Commerce 5,70,170 4 1. Dollar NIL
Kumar Gupta Age: 54 years and sales of the products Graduate (Four) Industries
(DIN: 01982889) of the Company Limited
52 Mr. Bajrang Kumar 19/09/1972 10/01/2005 77.40 More than two decades Bachelor of 5,36,450 4 1. Dollar NIL
53
Gupta Age: 48 years of experience in technical Technology (Four) Industries
(DIN: 01783906) aspect of production, Limited
quality control, purchase
management, etc.
Mr. Krishan 09/11/1970 04/08/2005 83.40 Manufacturing activities. Science 7,36,500 4 1. Dollar NIL

ESG approach
Kumar Gupta Age: 50 years Looking after Production Graduate (Four) Industries
(DIN: 01982914) of the Company. Limited
Mr. Gopalakrishnan 23/04/1965 14/08/2015 15.13 More than 10 years Bachelor of 1,750 4 1. Dollar NIL
Sarankapani Age: 56 years of experience in the Science (Four) Industries
(DIN: 07262351) field of marketing and Limited
administration.Presently,
he looks after overall
administration of all the
establishment of the
Company.

* Excluding Private Limited Companies, Foreign Companies and Companies registered under Section 8 of the Companies Act, 2013.

Statutory reports
Financial statements
Annual Report 2020-21
 Dollar Industries Limited

Who we are
DIRECTORS’ REPORT CHANGE IN NATURE OF BUSINESS Your Company has not issued any equity shares, equity shares
with differential rights, Sweat equity shares, Employees’ Stock
During the year, there was no change in the nature of business of
Options and did not purchase its own shares. Hence there is no
the Company and it continues to concentrate on its own business.
information to be provided as required under Rule 4 (4), Rule
8 (13), Rule 12 (9) and Rule 16 (4) of the Companies (Share
DIVIDEND Capital and Debentures) Rules, 2014 and Section 42 & 62 of
Dear Members, the Companies act 2013, respectively.
Your Board has recommended a dividend of ` 2.40 (previous year

Our performance
Your Directors are pleased to present the 28th Annual Report of the Company together with the audited financial statements for the ` 1.70 on face value of ` 2/- fully paid-up) per equity share of ` 2/-
financial year ended 31 March, 2021. fully paid-up (i.e.,120% on the paid-up value of equity shares). DEPOSITS
The proposal is subject to the approval of the Members at the
Your Company has not accepted any deposits during the year in
28th Annual General Meeting (AGM) of your Company scheduled
FINANCIAL RESULTS: terms Section 73 of the Companies Act, 2013 and the Companies
to be held on 28 July, 2021. The dividend payout is in the line
(` in Lacs) (Acceptance of Deposits) Rules, 2014.
with the Dividend distribution policy as adopted by the Company.
Standalone Consolidated
Particulars No deposits remained unpaid or unclaimed as at the end of
2020-21 2019-20 2020-21 2019-20 Pursuant to Regulation 43A of the SEBI (Listing Obligations and
Revenue from operations 1,03,695.57 96,710.00 1,03,695.57 96,710.00 the year and there was no default in repayment of deposits or
Disclosure Requirements) Regulations, 2015 as amended, the
Other Income 348.13 471.20 348.13 471.20 payment of interest thereon during the year.
Company had already formulated a Dividend Distribution Policy
Total Revenue 1,04,043.70 97,181.20 1,04,043.70 97,181.20 and is also available on the Company’s website at https://

Strategic priorities
Profit before Interest, Depreciation & Taxation 14,156.38 10,929.16 14,156.38 10,929.16 www.dollarglobal.in/assets/upload/corporate-policy/dividend_ CONSERVATION OF ENERGY, RESEARCH &
Less: Interest 878.69 1,529.03 878.69 1,529.03 distribution_policy.pdf. DEVELOPMENT, TECHNOLOGY ABSORPTION, FOREIGN
: Depreciation 1547.08 1,421.24 1547.08 1,421.24 EXCHANGE EARNINGS AND OUTGO
Less: Share of Loss of Joint Venture - - 196.33 211.02
AMOUNT TRANSFERRED TO RESERVES Information related to Conservation of Energy, Research
Profit Before Tax 11,730.61 7,978.89 11,534.28 7,767.87
& Development, Technology Absorption, Foreign Exchange
Less: Tax Expense 3,002.59 2,033.51 3,002.59 2,033.51 The Company has not transferred any amount to the General
Earnings and Outgo as required under section 134(3)(m) of the
Profit After Tax 8,728.02 5,945.38 8,531.69 5,734.36 Reserves for the financial year under review.
Companies Act, 2013 and Rule 8(3) of Companies (Accounts)
Add: Other Comprehensive Income 23.05 (55.86) 25.00 (55.34)
Rules, 2014 are at Annexure-‘A’ as attached hereto and forming
54 Add: Balance brought forward from previous year 31,311.41 26,586.05 30,899.73 26,384.87 55
FINANCIAL STATEMENTS part of this Report.
Less: Proposed Dividend (Including Dividend Distribution Tax) 964.17 1,164.16 964.17 1,164.16
Adjustment relating to fixed Assets& Gratuity - - - - The Financial Statements of your Company have been prepared
Balance carried to Balance Sheet 39.098.31 31,311.41 38,492.25 30,899.73 in accordance with INDAS issued by the Institute of Chartered CORPORATE GOVERNANCE
Accountants of India and Regulation 48 of the Securities and
The Company’s philosophy of Corporate Governance aims
Exchange Board of India (Listing Obligations and Disclosure

ESG approach
STATE OF COMPANY’S AFFAIRS AND OPERATIONS Your Company has partnered with Health Guard, Australia and at establishing and practicing a system of good corporate
Requirements) Regulations, 2015 (hereinafter referred to as
curated a range of its anti-viral products. The initial range of governance which helps in achieving the goal of maximising value
During the financial year, your Company has reported total SEBI Listing Regulations, 2015) for the financial year 2020-21
products consists of anti-viral masks and innerwear for men. of Company’s stakeholders in a sustainable manner.
revenue of ` 1,04,043.70 Lacs against ` 97,181.20 Lacs in the as applicable to the Company.
previous financial year. The profit (after tax) stood at ` 8,728.02
The safe cosmetic based chemistry of HG AMIC is 100% skin- Your Company’s Governance structure is built on transparency,
Lacs against ` 5,945.38 Lacs in the previous financial year. The The estimates and judgments relating to the Financial Statements
friendly and remains active on treated fabric achieving excellent integrity, ethics, honesty and accountability as core values,
exports made by the Company stood at ` 6,275.09 Lacs against are made on a prudent basis, so as to reflect in a true and fair
wash performance. and the management believes that practicing each of these
` 6,883.71 Lacs during the previous financial year. manner, the form and substance of transactions and reasonably
creates the right corporate culture attaining the purpose of
present the Company’s state of affairs, profits and cash flows
As the pandemic has been considered to be the most crucial Corporate Governance. Your Company strives to undertake best
Since our industry falls into necessity category the negative for the year ended 31 March, 2021. The Consolidated Financial
global health calamity of the century, the anti-viral range was Corporate Governance practices for enhancing and meeting
impact of Covid-19 pandemic was felt in the first quarter where Statements of the Company forms an integral part of this Report.
initiated keeping everyone’s health and safety in mind. Made stakeholders’ expectations while continuing to comply with

Statutory reports
the Company showed a negative growth but the pent-up demand
from cotton and non-woven fabrics, the product range features the mandatory provisions of Corporate Governance under the
in the quarters to follow helped us to achieve 7% growth on fiscal
the perfect blend of science and comfort. With a vision of SHARE CAPITAL applicable framework of SEBI (Listing Obligations and Disclosure
basis. The Company also focused on its Working Capital cycle
##DontBringTheVirusHome the anti-viral range proudly boasts Requirements) Regulations, 2015.
and has successfully reduced 15 days due to its strict credit There is no change in the authorised, issued, subscribe and paid-
of the following features:
policies which reduced its debtors’ days from 133 Days to 120 up share capital during the financial year.
Your Company has given its deliberations to provide all the
Days. This also helped to improve the Cash flow of the Company
• 99.94% effective under against corona or similar viruses. information in the Directors Report and the Corporate Governance
in turn reducing the overall debt of the Company. The Authorised Share Capital of your Company as on 31 March,
Report as per the requirements of the Companies Act, 2013, SEBI
• 24x7 silent protection against deadly germs 2021 stood at ` 11,50,00,000 (Rupees Eleven Crores Fifty Lacs)
(Listing Obligations and Disclosure Requirements) Regulations
During the year, the ongoing pandemic coerced us to reflect back divided into 5,75,00,000 equity shares of ` 2/- each.
• Double layered super breathable fabric. 2015 and the Listing Agreement entered by the Company with
as well as compelled us to be very stringent with our operations

Financial statements
the Stock Exchanges.
as it has taught us a very important lesson of becoming truly • Reusable eco-friendly design The issued, subscribed and paid-up share capital of your Company
agile and able to adapt with extreme rapidity and keeping in view is `11,34,32,240 (Rupees Eleven Crores Thirty Four Lac Thirty
• The mask fabric is chemically treated by a chemical by Pursuant to Regulation 34(3) read with Schedule V of The
of the same. Two Thousand Two Hundred Forty) divided into 5,67,16,120
HealthGuard. Australia Securities & Exchange Board of India (Listing Obligations and
equity shares of F.V. ` 2/- each, fully paid up.
Disclosure Requirements) Regulations, 2015 the applicable
• Available over e-commerce platforms and offline stores
Regulations as issued by Securities and Exchange Board of India
and as amended from time to time.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
A report on Corporate Governance along with a certificate from Jhunjhunwalla during their tenure as Independent Director and Qualifications of Directors) Rules, 2014 and 4. The annual accounts have been prepared on a going
Mr. Santosh Kumar Tibrewalla, Practicing Company Secretary and Non-Executive Director of the Company, respectively. amendments thereto. concern basis;
regarding compliance of conditions of Corporate Governance
attached to this report and marked as Annexure-‘B & ii) Appointments/Re-appointments: iv) Retirement by Rotation: 5. The Directors have laid down internal financial Controls to
C’ respectively. be followed by the Company and that such internal financial
• During the year under review, the shareholders at the Pursuant to the provisions of Section 152(6) and other
controls are adequate and are operating effectively; and
Annual General Meeting of the Company held on 1 applicable provisions of the Companies Act, 2013 and
The certification by CEO & CFO as per regulation 15(2)(b) of SEBI
September, 2020 had re-appointed Mr. Rajesh Kumar Articles of Association of the Company, Mr. Gopalakrishnan
(Listing Obligation and Disclosure Requirements) Regulations, 6. Proper systems have been devised to ensure compliance

Our performance
Bubna (DIN: 00468038) Independent Director of the Sarankapani (DIN:07262351), Director of the Company,
2015 is attached and marked as Annexure-‘D’. with the provisions of all applicable laws and that such
Company, for a further period of 5 (five) years w.e.f. 14 retires by rotation at the ensuing Annual General Meeting
systems are adequate and operating effectively.
August, 2020 pursuant to Section 149(10) read with and being eligible has offered for his re-appointment.
CODE OF CONDUCT Schedule IV of the Companies Act, 2013.
Based on the internal financial control framework, audit
v) Appointment& Resignation of Whole-time Key
The Board of Directors has adopted the Code of Conduct • During the year under review, the shareholders at procedure and compliance system as established and
Managerial Personnel (KMP):
and business principles for all the Board members including the Annual General Meeting of the Company held maintained by the Company. The Board is of the opinion that
Executive/Non-Executive Directors, senior management and on 1 September, 2020, had also re-appointed During the year under review there were no changes in the Company’s internal financial controls were adequate
all the employees of the Company and the same has also Mr. Gopalakrishnan Sarankapani (DIN: 07262351) as the Whole-time Key Managerial Personnel (KMP) of the and effective during the financial year 2020-2021.
been placed on the website of the Company at https://www. a Whole-Time Director of the Company, to hold office Company. The present KMP of the Company are as follows:
dollarglobal.in/assets/upload/corporate-policy/companys-code- of Directors for a further term of 5 (five) years w.e.f. 14
i. Mr. Vinod Gupta – Managing Director AUDITORS AND THEIR REPORTS

Strategic priorities
of-conduct.pdf August, 2020 pursuant to the applicable provisions of
the Companies Act, 2013. ii. Mr. Ankit Gupta – Chief Financial Officer (i) Statutory Auditors:
The Board Members and Senior Management have affirmed
• The existing terms of Mr. Vinod Kumar Gupta (DIN: iii. Mr. Abhishek Mishra – Company Secretary &  /s. Singhi & Co. (Firm Registration No. 302049E),
M
their compliance with the Code and pursuant to Regulation 26(3)
00877949) as Managing Director (designated as Key Compliance Officer Chartered Accountants, were appointed as the Statutory
read with Schedule V of SEBI (Listing Obligations and Disclosure
Managerial Personnel) and Mr. Binay Kumar Gupta Auditors of the Company at the 24th Annual General Meeting
Requirements) Regulations 2015 a declaration signed by the
(DIN: 01982889) as Joint Managing Director of the None of the Directors of the Company are disqualified as per of the Company held on 8 August, 2017 for a period of 5
Managing Director (CEO) to this affect is at Annexure-‘E’.
Company would expire on 31 August, 2021 and the section 164(2) of the Companies Act, 2013 and rules made (five) years and would continue to hold the office of Auditors
Board of Directors of the Company, on recommendation thereunder or any other provisions of the Companies Act, till the conclusion of the 29th AGM of the Company to be
56 MANAGEMENT DISCUSSIONS & ANALYSIS REPORT of Nomination and Remuneration Committee, in its 2013. The Directors have also made necessary disclosures held for the Financial Year 2021-22. 57
meeting held on 29 May, 2021 re-appointed them for a to as required under provisions of section 184(1) of the
Pursuant to Regulation 34 (2) (e) read with Schedule V of SEBI
further period of 5(five) years on the terms, conditions Companies Act, 2013. The observations, if any, made by the Statutory Auditors in
(Listing Obligations and Disclosure Requirement) Regulations,
and remuneration as detailed in the Notice convening their Auditors Report together with the notes to accounts,
2015, Management Discussion & Analysis Report for the year
this Annual General Meeting (AGM), subject to the All members of the Board of Directors and senior as append thereto are self-explanatory and hence does not
under review forms the part of this report and is marked as
approval of shareholders. management personnel affirmed compliance with the call for any further explanation. The Auditors’ Report does

ESG approach
Annexure-‘F’.
Company’s Code of Conduct policy for the F.Y. 2020-21. not contain any qualification, reservation, adverse remark
• The existing terms of Mr. Bajrang Kumar Gupta
or disclaimer.
(DIN: 01783906) & Mr. Krishan Kumar Gupta (DIN:
DIRECTORS & KEY MANAGERIAL PERSONNEL (KMP)
01982914) as Whole-Time Directors of the Company DIRECTORS’ RESPONSIBILITY STATEMENT
(ii) Cost Auditor:
i) Resignations: would expire on 31 August, 2021. The Board of Directors
Pursuant to the provisions of section 134(3)(c) & 134(5) of
of the Company, on recommendation of Nomination and Pursuant to section 148 of the Companies Act, 2013,
Mr. Sunil Mitra (DIN: 00113473), Independent Director the Companies Act, 2013, your Directors to the best of their
Remuneration Committee, in its meeting held on 29 May, the Board of Directors on recommendation of the Audit
of the Company resigned from the Board of the Company knowledge and ability, hereby confirm that:
2021 has also re-appointed them for a further period of Committee had appointed M/s. Santiram Chattopadhyay
w.e.f. 5 October, 2020 due to his extensive engagement in
5(five) years on the terms, conditions and remuneration 1. In the preparation of the annual accounts, the applicable & Associates, Cost Accountants, (Firm Registration
other governance priorities, keeping view of the COVID 19
as detailed in the Notice convening this Annual General accounting standards had been followed along with proper No.101437) as the Cost Auditors of the Company for the
pandemic situation as intimated to us.
Meeting (AGM), subject to the approval of shareholders. explanation related to material departures; financial year 2021-22. The Company has received consent

Statutory reports
and confirmation of eligibility for his appointment as the
Mr. Sanjay Jhunjhunwalla (DIN: 00233225), Non-Executive
iii) Declaration by Independent Directors: 2. Appropriate accounting policies have been selected and Cost Auditors of the Company for the financial year 2021‑22.
Director of the Company resigned from the Board of
applied consistently and judgements and estimates that
the Company w.e.f. 20 October, 2020 due to extensive The Company has received declarations from all the
are reasonable and prudent have been made so as to give The remuneration payable to the Cost Auditors is required
engagement in his own business. Independent Directors of the Company confirming that:
a true and fair view of the state of affairs of the Company to be ratified by the shareholders in the ensuing Annual
a. they meet the criteria of independence as prescribed as at 31 March, 2021 and of the Profit of the Company for General Meeting and is therefore accordingly proposed in
Company has received confirmation from Mr. Mitra &
under section 149 of the Companies Act, 2013 and the year ended on 31 March, 2021; the Notice convening the AGM as annexed to this Report.
Mr. Jhunjhunwalla that there was no other reason except
SEBI (Listing Obligations and Disclosure Requirements)
as stated above, for their resignations.
Regulations 2015; and 3. Proper and sufficient care has been taken, for the (iii) Secretarial Auditor:

Financial statements
maintenance of adequate accounting records in accordance
The Board accepted the above resignation(s) as tendered, b. they have registered their names in the Independent  r. Santosh Kumar Tibrewalla, Practicing Company
M
with the provisions of this Act, for safeguarding the assets
respectively and put on record its appreciation towards Directors’ Databank pursuant to Sub-rule (1) and Secretary, continued to be the Secretarial Auditor of the
of the Company and for preventing and detecting fraud and
valuable contribution made by Mr. Sunil Mitra and Mr. Sanjay (2) of Rule 6 of the Companies (Appointment Company to carry out the Secretarial Audit under the
other irregularities;

Annual Report 2020-21

 Dollar Industries Limited

Who we are
provisions of section 204 of the Companies Act, 2013, Report (BRR) describing the initiatives taken by them from and procedure for fair disclosure of Un-published Price Sensitive than ten percent of equity shares in the Company are
read with The Companies (Appointment and Remuneration an environmental, social and governance perspective in the Information and formulated the code of conduct of the Company. provided herein below:
of Managerial Personnel) Rules, 2014 and Regulation 24A reporting period.
of SEBI (Listing Obligations and Disclosure Requirements), The code is applicable to Directors, Employees, Designated Amount
Name of the Promoter Group Nature of Transaction
Regulations,2015. The report of the Secretarial Auditor MR-3 In Compliance of the above the BRR of the Company for the Person and other connected persons of the Company; the (`) in Lacs
for the financial year 2020-21 is enclosed as Annexure‑‘G’ financial year 2020-21 is annexed and marked as Annexure-‘J’ aforesaid code of conduct for prevention of Insider Trading is Dollar Holdings Private Rent Paid 12.64
to this Board’s Report, which is self-explanatory and hence ‘and forms part of this Annual Report. duly placed on the Website of the Company at https://www. Limited (Formerly Simplex Services Received 1.06
Impex Private Limited)
do not call for any further explanation. dollarglobal.in/assets/upload/corporate-policy/0dd03be062a Loan Taken 2000

Our performance
2791adab540a133a008df.pdf. Repayment of Loan 2260
DISCLOSURE AS PER THE SEXUAL HARASSMENT OF
The Secretarial Audit Report does not contain any Interest Paid 44.71
WOMEN AT WORKPLACE (PREVENTION, PROHIBITION
qualification, reservation or adverse remark. Pursuant to the Internal Code of Conduct for Prevention of Insider Dividend Paid 435.90
AND REDRESSAL) ACT, 2013
Trading as framed by the Company under SEBI (Prohibition of V.K. Mercantile Private Rent Paid 4.96
(iv) Internal Auditors: The Company has formulated and adopted an Anti-Sexual Insider Trading) Regulations, 2015 (as amended), the trading Limited Services Received 943.11
Harassment Policy in line with the requirements of the Sexual window closure(s) are intimated in advance to all the designated Dividend Paid 123.69

M/s. Pawan Gupta & Co., Chartered Accountants
Harassment of Women at Workplace (Prevention, Prohibition and person and during the said period, the Board of Directors and
continued to be the Internal Auditors of the Company under
Redressal) Act, 2013 and rules framed thereunder that provides concerned persons are not permitted to trade in the securities
the provisions of section 138 of the Companies Act, 2013 ii) Number of Board Meetings:
a mechanism for the resolution, settlements or prosecution of of the Company.
for conducting the internal audit of the Company for the
acts or instances of sexual harassment at workplace and to The Board of Directors met 4 (Four) times in the year 2020-
financial year 2020-21.

Strategic priorities
ensure that all employees are treated with respect and dignity. 21. The Details of the Board Meeting and attendance of the
DISCLOSURES AS PER APPLICABLE ACT; LISTING
Directors are provided in the Corporate Governance Report,
The Company has received consent letter from AGREEMENT / SEBI (LODR) REGULATIONS, 2015
The policy on prevention of sexual harassment at workplace attached as Annexure to this Board’s Report.
M/s. Pawan Gupta & Co., Chartered Accountants, for their
is also placed on the website of the Company at https://www. i) Related Party Transactions:
re- appointment as the Internal Auditors of the Company for
dollarglobal.in/assets/upload/corporate-policy/61dced454d iii) Composition of Audit Committee:
the financial year 2021-22 and the Board has re-appointed All transactions entered with related parties during the
d87d14d5f46cd38af8f211.pdf. All employees (Permanent/
them accordingly. F.Y.2020-2021 were on an arm’s length basis and were The Board had constituted the Audit Committee under the
Contractual/Temporary/Trainees) are covered under this policy.
in the ordinary course of business. Except for above, applicable provisions of the Companies Act, 2013 and the
The policy is gender neutral. During the year under review, no
there have been no materially significant related party SEBI (Listing Obligations and Disclosure Requirements)
CORPORATE SOCIAL RESPONSIBILITY (CSR) Complaints with allegations of Sexual Harassment were received
58 transactions with the Company’s Promoters, Directors Regulations, 2015. 59
by the Company.
The Company has been carrying out Corporate Social and others as defined in section 2(76) of the Companies
Responsibility (CSR) activities under the applicable provisions Act, 2013 and Regulation 23 of SEBI (Listing Obligations The Composition of the Committee and other details of the
of Section 135 read with schedule VII (as amended from COMPANY’S WEBSITE & Disclosure Requirements) Regulations, 2015 which may Committee are given in the Corporate Governance Report,
time to time) of the Companies Act, 2013 and the Companies have potential conflict of interest with the Company at large. attached as Annexure to this Board’s Report.
Your Company has developed and maintained its fully functional
Corporate Social Responsibility Policy Rules 2014. The CSR

ESG approach
website www.dollarglobal.in which has been designed to exhibit
policy formulated by the Company is available on the website at In compliance with the provisions of the Act and the SEBI Recommendation by Audit Committee:
the Company’s businesses up-front on the home page and
https://www.dollarglobal.in/assets/upload/corporate-policy/98 Regulation 2015, each transaction as entered by the There were no such instances where the recommendation
all the relevant details about the Company. The site carries a
296232c46f7b3d53a11d9ab3cd3662.pdf Company with its related parties is placed before the Audit of Audit Committee has not been accepted by the Board
comprehensive database of information of the Company including
Committee. A prior omnibus approval of the Audit Committee during the financial year under review.
the Financial Results of your Company, Shareholding Pattern,
The details of the Committee have been provided in the Corporate is obtained on a yearly basis for the transactions which
Directors’ & Corporate Profile, details of Board Committees,
Governance Report as annexed to this report and the CSR are foreseen and repetitive in nature. The transactions iv) Nomination & Remuneration Committee:
Corporate Policies, business activities and current affairs of your
activities are mentioned in the ‘Annual Report on CSR Activities’ pursuant to the omnibus approval so granted, is audited and
Company. All the mandatory information and disclosures as per The Board had constituted the Nomination & Remuneration
enclosed as Annexure-‘H’ to this report. a detailed quarterly statement of all RPTs is placed before
the requirements of the Companies Act, 2013, Companies Rules, Committee under the applicable provisions of the
the Audit Committee for its review. The policy on Related
2014 and as per Regulation 46 of SEBI (Listing Obligations & Companies Act, 2013 and the SEBI (Listing Obligations and
Party Transactions as approved by the Board is available
PARTICULARS OF EMPLOYEES AND MANAGERIAL Disclosure Requirements) Regulations, 2015 and also the non- Disclosure Requirements) Regulations, 2015.

Statutory reports
on the Company’s website at https://www.dollarglobal.in/
REMUNERATION mandatory information of Investors’ interest / knowledge has
assets/upload/corporate-policy/sdefewwea.pdf.
been duly presented on the website of the Company. The Composition of the Committee and other details of the
The details of remuneration of Directors, Key Managerial
Committee are given in the Corporate Governance Report,
Personnel and employees of the Company as required under The necessary disclosures regarding the transactions
attached as Annexure to this Board’s Report.
Section 197(12) of the Companies Act, 2013 read with Rule 5 of CODE OF CONDUCT FOR PREVENTION OF INSIDER are given in the notes to accounts. The Company has
the Companies (Appointment and Remuneration of Managerial TRADING also formulated a policy on dealing with the Related
v) Stakeholder Grievance Committee:
Personnel) Rules, 2014 has been set out as Annexure-‘I’ to this Party Transactions and necessary approval of the Audit
Your Company has adopted the Code of conduct in terms of
Report, attached hereto. Committee and Board of Directors were taken wherever The Board had constituted the Stakeholder Grievance
the SEBI (Prohibition of Insider Trading) Regulations, 1992, to
required in accordance with the Policy. Committee under the applicable provisions of the
regulate, monitor and report trading by designated persons
Companies Act, 2013 and the SEBI (Listing Obligations and

Financial statements
BUSINESS RESPONSIBILITY REPORT towards prevention of Insider Trading. Further, in accordance
In terms of Regulation 34 (3) read with Schedule V of the Disclosure Requirements) Regulations, 2015.
with the provisions of Regulation 8 of SEBI (Prohibition of
Pursuant to Regulation 34 (2)(f) of SEBI (LODR) Regulations, SEBI (Listing Obligations and Disclosure Requirements)
Insider Trading) Regulations, 2015, the Board of Directors of the
2015, the Company is required to furnish Business Responsibility Regulations, 2015, disclosure of transactions of the The Composition of the Committee and other details of the
Company has duly approved and adopted the code of practices
Company with its promoter group Company, holding more Committee are given in the Corporate Governance Report,
attached as Annexure to this Board’s Report.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
vi) Management & Finance Committee: xii) Disclosure Relating To Material Variations: xv) Subsidiaries, Associates or Joint Ventures: in the Corporate Governance Report, attached as Annexure
to this Board’s Report:
The Board had constituted the Management & Finance As per Regulation 32(1) of SEBI (Listing Obligations and The consolidated financial statements presented by the
Committee to carry out the powers as delegated, the Disclosure Requirements) Regulation, 2015, there are no Company include financials of its Joint Venture Company viz. a. Criteria for appointment and removal of Directors, Key
composition of the Committee and other details of the significant material variances noted in the Company. M/s. Pepe Jeans Innerfashion Private Limited prepared Managerial Personnel (KMP) and Senior Management
Committee are given in the Corporate Governance Report, in compliance with the applicable Accounting Standards. Executives of the Company.
attached as Annexure to this Board’s Report. xiii) Loans, Guarantees and Investments:
Pursuant to Section 129(3) of the Companies Act, 2013 b. Remuneration in any form payable to the Directors,
During the year under review, your Company has been

Our performance
vii) Share Transfer Committee: read with Rule 5 of the Companies (Accounts) Rules, 2014, KMPs and Senior Management Executives.
investing and deploying its surplus funds in Securities which
a statement containing salient features of the financial
The Board had constituted the Share Transfer Committee, were within the overall limit of the amount and within the
statements of Joint Venture is given in Form AOC-1 forms c. Evaluation of the performance of the Directors.
the composition of the Committee and other details of the powers of the Board as applicable to the Company in terms
part of the consolidated financial statement and is attached
Committee are given in the Corporate Governance Report, of section 179 and 186 of the Companies Act, 2013. The
to this report as Annexure-‘L’. d. Criteria for determining qualifications, positive
attached as Annexure to this Board’s Report. particulars of all such loans, guarantees and investments
attributes and independence of a director.
are entered in the register maintained by the Company for
xvi) Evaluation of the Board’s Performance:
viii) Risk Management Committee: the purpose.
xviii) Vigil Mechanism Policy:
During the year under review, the Board, in compliance with
The Board of Directors at its meeting held on 29 May,
xiv) Material changes and commitments, if any, affecting the Companies Act, 2013 and Regulation 17(10) of The The Company has a Vigil mechanism policy in place which
2021 had constituted Risk Management Committee as per
the financial position between the end of the financial Securities & Exchange Board of India (Listing Obligations enables the employees or other connected persons having
regulation 21 of the SEBI (Listing Obligations and Disclosure

Strategic priorities
year and date of the report: and Disclosure Requirements) Regulations, 2015, has interest in any transactions with the Company to report any
Requirements) Regulations, 2015 as amended.
continued to adopt formal mechanism for evaluating its own unethical or improper practices noticed in the organisation.
• During the harder times of prevailing Covid-19 pandemic
performance as well as that of its Committees and individual The Company strongly follows the conduct of its affairs
The Composition of the Committee and other details of the digitisation has been the key to sustenance during the
Directors, The exercise has been carried out through a in a fair and transparent manner by adoption of highest
Committee are given in the Corporate Governance Report, pandemic. As a brand that is constantly adapting to
structured evaluation process covering various aspects standards of professionalism, honesty, integrity and ethical
attached as Annexure to this Board’s Report. changing times, we realise the importance and potential
of the functioning of the board, such as composition of behavior and accordingly as per the requirement of the
of social media and digital platforms. In addition to our
the Board & Committees, effectiveness of Board process, Companies Act, 2013 and the SEBI Listing Regulations, your
ix) Risk Analysis: brick-and-mortar store presence, we strengthened our
information and functioning, experience & competencies, Company has framed its Whistle Blower Policy to enable
e-commerce presence. This resulted in a 3X growth in
The Company has in place a mechanism comprising of performance of specific duties & obligations, governance all the employees and the Directors to report any violation
60 our e-commerce sales. We are able to communicate with 61
regular audits and checks to inform the Board members issues etc. A separate exercise was carried out to evaluate of the Code of Ethics as stipulated in the said policy, by
our consumers via our internal social media platforms
about the Risk assessment and mitigation plans and the performance of individual Directors, who were evaluated virtue of Whistle Blower Policy, the Directors and employees
where we keep them updated about our new launches,
periodical reviews to ensure that the critical risks are on parameters such as their participation, contribution at of the Company are encouraged to escalate to the level
campaigns, brand vision and thoughts.
controlled by the executive management. Major risks the meetings and otherwise, independent judgements, of the Audit Committee any issue or concerns impacting
identified are systematically addressed through risk The exercise has definitely helped us grab new eyeballs safeguarding of minority shareholders interest, etc. and compromising with the interest of the Company and

ESG approach
mitigation actions on a continuing basis. in addition to our existing consumer base even during its stakeholders in any way. The Company is committed to
the pandemic. For Dollar, the e-commerce platform The evaluation of the Independent Directors was carried adhere to highest possible standards of ethical, moral and
x) Extracts of Annual Return: was a strategic decision to keep up with digitisation out by the entire Board and that of the Non-Independent legal business conduct and to open communication and to
and also reach out to our consumers across the Directors were carried out by the Independent Directors in provide necessary safeguards for protection of Directors or
The details forming part of the copy of the Annual Return
country. We witnessed a 4X growth in our online sales. their separate meeting held on 4 February, 2021. employees or any other person who avails the mechanism
of the Company as provided under section 92(3) of the
Though E-commerce contributes to only 3% of our sales from reprisals or victimisation, for whistle blowing in
Companies Act, 2013 and Rule 12 of the Companies
percentage, we cannot ignore its growing popularity. We The outcome of the performance evaluation as carried good faith.
(Management and Administration) Rules, 2014 in
shall continue to focus on online sales alongside offline out on the basis of the above mechanism was noted to be
Form MGT-9 is attached to this report and marked as
sales testing times. satisfactory and it also reflected the commitment of the Details of establishment of the Vigil Mechanism has been
Annexure-‘K’ and is available at the website of the
Board members and its Committees to the Company. uploaded on the Company’s website and is available at
Company- https://www.dollarglobal.in/assets/upload/
• Keeping in mind the ‘New Normal’ and the grwoing https://www.dollarglobal.in/assets/upload/corporate-

Statutory reports
news/7225c57f41cbd9941eb0806093f22867.pdf
popularity of ‘Work from Home’ culture, we have also xvii) Nomination, Remuneration and Evaluation Policy: policy/vigil.pdf and also set out in the Corporate Governance
focused on building a range of athleisure and comfort Report attached as Annexure to this Board’s Report.
Pursuant to Section 134(3)(a) of the Companies Act, 2013 The Company on recommendation of its Nomination &
wear. The segment has been a silver lining during the
and amendments thereof, the Annual Return for the financial Remuneration Committee has laid down a Nomination,
pandemic and will continue to grow in the next few years. xix) Cost Records:
year 2019-20 is placed on the website of the Company Remuneration and Evaluation Policy, in compliance with
at the following link https://www.dollarglobal.in/assets/ • To ensure smooth operations even during these the provisions of the Companies Act, 2013 read with the The Company has maintained cost records as specified
upload/news/b59f2a2ca3c6f06da4559bda985baf4b.pdf tough times, we are also focusing on digital process Rules made therein and Regulation 19 read with Part D of by the Central Government under section 148(1) of the
implementations or up-gradation of our internal digital Schedule II of Securities & Exchange Board of India (Listing Companies Act, 2013 and accordingly such accounts and
xi) Internal Financial Control: platforms: Obligations and Disclosure Requirements) Regulations, records are maintained.
2015 and Listing Agreement entered with the Stock

Financial statements
The Company has in place adequate internal financial − Digitial Distribution Management system
Exchanges (as amended from time to time). This Policy is xx) Internal Complaint Committee:
control as required under section 134(5)(e) of the Act.
− Sales force automation system (Field Assist) formulated to provide a framework and set standards in
During the year such controls were tested with reference to The Company has complied with provisions relating to the
relation to the following and details on the same are given
financial statements and no reportable material weakness − Auto replenishment system (Vector Flow) constitution of Internal Complaints Committee under the
in the formulation or operations were observed. Sexual Harassment of Women at Workplace (Prevention,
− Moving SAP
Prohibition and Redressal) Act, 2013.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
SECRETARIAL STANDARDS ACKNOWLEDGEMENT ANNEXURE TO THE DIRECTORS’ REPORT
Secretarial Standards, i.e. SS-I, SS-II and SS-III relating to
‘Meetings of the Board of Directors’, ‘General Meetings’ and
Your Directors would like to express their grateful appreciation
for the contribution made and support provided to the Company
ANNEXURE-‘A’
‘Dividend’ respectively, to the extent as applicable have been by all the employees at its various divisions, for the assistance
Particulars pursuant to the provisions of Section 134(3)(m) of the Companies Act, 2013 read with the Rule 8(3) of Companies
duly followed by the Company. and co-operation received from the Financial Institutions, Banks,
(Accounts) Rules, 2014:
Government Authorities, Shareholders and all other stakeholders
during the year under review. Your Directors wish to place on
INDUSTRIAL RELATIONS

Our performance
record their deep sense of appreciation to all the employees
A) CONSERVATION OF ENERGY B) TECHNOLOGY ABSORPTION
The industrial relation during the year 2020-21 had been cordial. for their committed services, exemplary professionalism and
The Directors take on record the dedicated support received from enthusiastic contribution during the year. (i) Steps taken or impact on conservation of energy (i) Efforts made towards technology absorption: N.A.
its agents, dealers, suppliers and significant efforts made by the
The Company has been effectively utilising the power units,
Officers, Staff and Workers towards the progress of the Company. Your Directors also deeply regret the loss of life caused due to (ii) Benefits derived like product improvement, cost reduction,
generated in its own windmills. However, the manufacturing
the unfortunate outbreak of COVID-19 and are grateful to every product development or import substitution. N.A.
process of the products of the Company is not power
person who struggled and risked their lives and safety to fight
SIGNIFICANT & MATERIAL ORDERS PASSED BY THE intensive except its spinning, elastic and process divisions.
the ongoing pandemic. (iii) In case of imported technology (imported during the last
REGULATORS OR COURTS OR TRIBUNALS IMPACTING The Company always put its endeavors to save energy,
three years reckoned from the beginning of the financial year)
THE GOING CONCERN STATUS AND COMPANY’S wherever possible.
OPERATIONS IN FUTURE a) Details of technology imported: N.A.

Strategic priorities
(ii) Steps taken by the Company for utilising alternate
There have been no significant & material orders passed by b) Year of import: N.A.
sources of energy
Regulators / Courts / Tribunals impacting going concern status
c) Whether the technology been fully absorbed: N.A.
and Company’s operations in future. Your Company has commissioned a 4 MW solar power plant
in Tamil Nadu. The solar plant is a part of Dollar’s ‘Green d) If not fully absorbed, areas where absorption has not
Mission’ initiative and has a capacity of generating 75 Lacs taken place, reasons thereof: N.A.
Registered Office: power units annually.
Om Tower, By Order of the Board of Directors (iv) The expenditure incurred on Research and
32, J. L. Nehru Road, For Dollar Industries Limited Dollar’s objective for installing the solar plant is to not only Development
62 15th floor, reduce costs but also make the production units at Tirupur 63
The Company itself is not carrying out any R & D. However,
Kolkata-700 071 sustainable and self-reliant. To produce 1kg of cotton yarn,
the Hosiery Research Association has undertaken
Vinod Kumar Gupta Krishan Kumar Gupta the cost of power is approximately ` 25 which is expected
such activities.
Date: 29 May, 2021 Managing Director Whole-time Director to feed almost 50% of the daily consumption at the spinning
Place: Kolkata (DIN: 00877949) (DIN: 01982914) unit. Moreover, the solar plant will help in curbing the CO2
emissions significantly, towards sustainable environment. C) FOREIGN EXCHANGE EARNINGS AND OUTGO

ESG approach
The Foreign exchange earned in terms of actual cash inflows
Keeping in view of the continuing benefits of utilising solar
during the year and the Foreign exchange outgo during the
power as its alternate source of energy and its environmental
year in terms of actual outflows are as follows –
interests, your Company has initiated suitable steps towards
(` in Lacs)
augmenting the capacity of its existing solar power plant
from 4 MW to 5 MW. Particulars 2020-2021 2019-2020
Total Foreign Exchange Used and
The extended commissioning is likely to be completed in the Earned:
financial year 2021-22 Earned (F.O.B.) 5,192.94 5,622.45
Used 406.14 3,094.96

Statutory reports
(iii) Capital investment on energy conservation equipment
Not ascertainable.

Registered Office:
Om Tower, By Order of the Board of Directors
32, J. L. Nehru Road, For Dollar Industries Limited
15th floor,

Financial statements
Kolkata-700 071
Vinod Kumar Gupta Krishan Kumar Gupta
Date: 29 May, 2021 Managing Director Whole-time Director
Place: Kolkata (DIN: 00877949) (DIN: 01982914)

Annual Report 2020-21

 Dollar Industries Limited

Who we are
ANNEXURE-‘B’ TO THE DIRECTORS’ REPORT The aforesaid Directors meet all the criteria as stipulated operates, business model of the Company, etc., through
in the Companies Act, 2013 and applicable Regulations of familiarization programme as posted on the website of
CORPORATE GOVERNANCE Securities & Exchange Board of India (Listing Obligations the Company at https://www.dollarglobal.in/assets/
and Disclosure Requirements) Regulations, 2015. The upload/corporate-policy/familiarization-programme-for-
appointment letters issued to the above Independent independent-directors.pdf
Directors sets out their roles, responsibilities, fiduciary
duties in the Company and the expectation of the Board None of the Directors held Directorship in more than 10
(1) COMPANY’S PHILOSOPHY ON CODE OF and protecting the rights of its shareholders by means of
from them along with other terms of their appointment. Public Limited Companies and/or were members of more

Our performance
GOVERNANCE: transparency, integrity, accountability and checks at the
than 10 Committees or acted as Chairperson of more than
different levels of the management of the Company.
The Company’s philosophy of Corporate Governance aims All the members of the Board are provided with necessary 5 Committees across all Public Limited Companies in which
at establishing and practicing a system of good corporate access to the documents and reports to familiarize them they are Directors.
Your Company is in compliance with the requirements of
governance which will assist the management in managing with the Company’s working procedures and practices.
Corporate Governance as stipulated in the Securities and
the Company’s business in an efficient and transparent Regular presentations are made at Board and Committee In terms of the SEBI (Listing Obligation and Disclosure
Exchange Board of India (Listing Obligations and Disclosure
manner towards fulfilling the corporate objectives and to Meetings on business and financial performance updates Requirements) Regulations, 2015, none of the Directors
Requirements) Regulations, 2015 (‘Listing Regulations’).
meet the obligations and best sub serve the interest of of the Company including business strategy and risk of the Company held Directorships in more than 8 (Eight)
its stakeholders. factors. The Board members takes active part at the Board Listed Entities and none of the Independent Directors of the
(2) BOARD OF DIRECTORS: and Committee Meetings and provide valuable guidance Company held Directorship in 7(Seven) Listed Entities.
Keeping in view the Companys’ commitment to the to the Management on various aspects of business, policy
The Board constitutes an optimum balance of eminent

Strategic priorities
principles of good corporate governance which strives to direction, governance, compliance etc. and play critical The Managing Director does not serve as Independent
persons with relevant professional expertise in divergent
achieving efficiency and excellence in the operations of role on strategic issues, which enhances the transparency Director in any other listed Company.
fields. The changes in the composition of the Board of
the Company with proper blend of business practices and and add value in the decision-making process of the Board
Directors that took place during the period under review
compliance with applicable laws and regulations leading to of Directors. The Board of Directors confirmed that as per their opinion,
were carried out in compliance with the provisions of the
effective control and management of the organisation. We the Independent Directors fulfill the conditions specified in
Act and the Listing Regulations. The Composition of the
consider stakeholders as our partners in our success and The Company in accordance with applicable Regulations of the SEBI (Listing Obligation and Disclosure Requirements)
Board comprises of balanced combination of Executive,
remain committed to maximising stakeholder value. Securities & Exchange Board of India (Listing Obligations Regulations, 2015 and are independent of management.
Independent including one Woman Director and Non-
and Disclosure Requirements) Regulations, 2015, has
Executive Directors as per the applicable provisions of
The Company in terms of applicable Regulations of taken initiatives to familiarize its Independent Directors The Board has carried out performance evaluation of
64 the Companies Act, 2013 and the SEBI (Listing Obligation 65
Securities & Exchange Board of India (Listing Obligations (IDs) with the Company, their roles, rights, responsibilities in Independent Directors and recommended to continue the
and Disclosure Requirements) Regulations, 2015. The
and Disclosure Requirements) Regulations, 2015 has the Company, nature of the industry in which the Company term of their appointment.
composition and category of Directors is detailed as follows:
adopted practice of Corporate Governance for ensuring

(a) Attendance of each Director at the Board Meeting /Annual General Meeting and Number of other Directorship and

ESG approach
Category Name of the Directors
Chairmanship/ Membership of Committee of each Director in various Companies:
Executive – Managing Director – Promoter Mr. Vinod Kumar Gupta
Executive – Managing Director – Promoter Mr. Binay Kumar Gupta Number of other Directorship and Committee
Attendance Particulars
Executive – Whole Time Director – Promoter Mr. Krishan Kumar Gupta membership/ Chairmanship
Name of the Director
Executive – Whole Time Director – Promoter Mr. Bajrang Kumar Gupta Other Committee Committee
Board Meetings Last AGM
Directorship# Membership## Chairmanship##
Executive – Whole Time Director – Non-Promoter Mr. Gopalakrishnan Sarankapani
Mr. Vinod Kumar Gupta 4 Present 1 - -
Non-Executive Director – Non-Promoter Mr. Sanjay Jhunjhunwalla*
Mr. Binay Kumar Gupta 4 Present - - -
Non-Executive Director – Independent Mr. Binay Kumar Agarwal
Mr. Krishan Kumar Gupta 4 Present - - -
Non-Executive Director – Independent Mr. Sunil Mitra**
Mr. Bajrang Kumar Gupta 3 Present - - -
Non-Executive Director – Independent Mr. Rajesh Kumar Bubna
Mr. Gopalakrishnan Sarankapani 4 Present - - -
Non-Executive Director – Independent Mrs. Divyaa Newatia

Statutory reports
Mr. Sanjay Jhunjhunwalla* - Present 1 - -
Non-Executive Director – Independent Mr. Anil Kumar Saboo
Mr. Binay Kumar Agarwal 4 Present 4 2 2
Non-Executive Director – Independent Mr. Srikumar Bandyopadhyay
Mr. Anil Kumar Saboo 4 Present - - -
*Mr. Sanjay Jhunjhunwalla, Non-Executive Director, resigned from the office of Directors of the Company w.e.f. 20 October, 2020. Mr. Srikumar Bandyopadhyay 3 Present 4 1 -
**Mr. Sunil Mitra, Independent Director, resigned from the office of Directors of the Company w.e.f. 5 October, 2020. Mr. Rajesh Kumar Bubna 4 Present 1 2 1
Mr. Sunil Mitra** 1 Present 9 6 2
Mrs. Divyaa Newatia 4 Present - - -

# ExcludesDirectorships in Private Limited Companies, Foreign Companies and Companies under Section 8 of the Companies Act, 2013.
## Onlytwo Committees viz. the Audit Committee and the Stakeholder Relationship Committee are considered for this purpose.

Financial statements
* Resigned from the Office of Directors w.e.f. 20 October, 2020.
** Resigned from the Office of Directors w.e.f. 05 October, 2020.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
(b) The list of Companies where the persons are Directors and the category of Directorship are as follows: List of core skills/ Name of the Directors having such
Brief Description
expertise/ competence skills/ expertise/ competence
Name of the Listed Entity where the person is Governance Experience in developing governance practices, serving the best interests of all Mr. Rajesh Kumar Bubna
Name of the Director Category of Directorship
a Director stakeholders, maintaining Board and management accountability, building long- Mr. Binay Kumar Agarwal
Mr. Vinod Kumar Gupta NIL N.A. term effective stakeholder engagements, driving corporate ethics and values and Mr. Sunil Mitra**
Mr. Binay Kumar Gupta NIL N.A. observing appropriate governance practices. Mr. Anil Kumar Saboo
Mr. Krishan Kumar Gupta NIL N.A. Administration Leadership in administration of a Company, results in long-term growth by Mr. Vinod Kumar Gupta
planning, organising, directing and controlling the operations, creating rules and Mr. Krishan Kumar Gupta
Mr. Bajrang Kumar Gupta NIL N.A.
regulations and making decisions towards achieving a common goal or objective Mr. Binay Kumar Gupta

Our performance
Mr. Gopalakrishnan Sarankapani NIL N.A. of the Company. Mr. Bajrang Kumar Gupta
Mr. Sanjay Jhunjhunwalla* NIL N.A. Mr. Sanjay Jhunjhunwalla*
Mrs. Divyaa Newatia NIL N.A.
*Resigned from the Office of Directors w.e.f. 20 October, 2020
Mr. Rajesh Kumar Bubna Budge Budge Co. Ltd Non-Executive, Independent Director
**Resigned from the Office of Directors w.e.f. 5 October, 2020.
Mr. Binay Kumar Agarwal Hindcon Chemicals Limited Non-Executive, Independent Director
Mr. Sunil Mitra** 1. Texmaco Rail & Engineering Limited Non-Executive, Independent Director (e) Separate Meeting of the Independent Directors: 1. Presentations made by business and functional
2. CESC Limited
3. Century Ply Boards (India) Limited
heads of the Company from time to time on different
As stipulated by the Code of Independent Directors under
4. Firstsource Solutions Limited functions and areas.
the Companies Act, 2013 and in terms of Regulation
Mr. Anil Kumar Saboo NIL N.A. 25(3) of the Securities & Exchange Board of India (Listing 2. Presentations made and deliberations held from
Mr. Srikumar Bandyopadhyay Beekay Steel Industries Limited Non-Executive, Independent Director Obligations and Disclosure Requirements) Regulations, time to time on major changes and developments in

Strategic priorities
2015, the Independent Directors of the Company held a the Act and SEBI (Listing Obligations and Disclosure
*Resigned from the Office of Directors w.e.f. 20 October, 2020
separate meeting on 4 February, 2021 and inter alia has Requirements) Regulations, 2015.
**Resigned from the Office of Directors w.e.f. 5 October, 2020.
reviewed:
The familiarization programmes of the Company for
(c) During the year 2020-21, 4 (Four) Board meetings were held on 28 June, 2020, 14 August, 2020, 8 November, 2020 i. the performance of Non-Independent Directors and
its Independent Directors has been disclosed on the
and 4 February, 2021. The gap between any two consecutive meetings did not exceed one hundred and twenty days as the Board as a whole;
Company’s website at https://www.dollarglobal.in/assets/
required under of Regulation 17(2) of Securities & Exchange Board of India (Listing Obligations and Disclosure Requirements)
ii. assessed the quality, quantity and timeliness of flow of upload/corporate-policy/familiarization-programme-for-
Regulations, 2015.
information between the Company management and independent-directors.pdf
66 the Board that is necessary for the Board to effectively 67
(d) Expertise & Skills of the Board of Directors
and reasonably perform their duties. (g) Details of Directors Seeking Appointment /
The Board of Directors comprises of highly experienced members possessing required skills, expertise and competence in Re‑Appointment:
making effective contributions towards the overall growth of the Company. The Independent Directors also reviewed the quality,
The Details of Directors seeking appointment / re-
content and timeliness of the flow of information between
appointment as required under Regulation 36(3) of
The Board has identified the following skills/expertise/ competencies fundamental for the effective functioning of the Company the Management and the Board and its Committees which

ESG approach
Securities & Exchange Board of India (Listing Obligations
which are currently available with the Board: is necessary to effectively and reasonably perform and
and Disclosure Requirements) Regulations, 2015 is given
discharge their duties.
List of core skills/ Name of the Directors having such in annexure to the notice which forms part of this Report.
Brief Description
expertise/ competence skills/ expertise/ competence
Finance Leadership in Corporate/ business finance is an important and inevitable function Mr. Rajesh Kumar Bubna
(f) Familiarization Programme imparted to Independent
(h) Relationship between the Directors inter-se:
and efficient financial management is crucial for success and sustenance. It results Mr. Binay Kumar Agarwal Directors
in proficiency in financial management, procurement and utilisation of funds and Mr. Sunil Mitra** The disclosure of relationships between Directors inter-
Independent Directors are made aware of their role,
controlling the financial activities and management of financial resources. Mr. Anil Kumar Saboo se as required under Regulation 34(3) and Schedule V of
Mrs. Divyaa Newatia rights, obligations and responsibilities at the time of their
Securities & Exchange Board of India (Listing Obligations
Strategy & Planning Appreciation of long-term trends, strategic choices and experience in guiding and Mr. Vinod Kumar Gupta
appointment in the Company, through a formal letter of
and Disclosure Requirements) Regulations, 2015 with the
leading management teams to make decisions in uncertain environments. Mr. Krishan Kumar Gupta appointment, which sets out various terms and conditions
Stock Exchanges is as follows:
of their engagement. Familiarization Programme imparted

Statutory reports
Mr. Binay Kumar Gupta
Mr. Bajrang Kumar Gupta to the independent directors intends to provide insights Nature of
Name of Directors Name of Other Director
Mr. Sanjay Jhunjhunwalla* into the Company so that the Independent Directors can Relationship
Global Business Understanding, of global business dynamics, across various geographical markets Mr. Vinod Kumar Gupta understand the Company’s business in depth and the roles, Mr. Vinod Kumar Mr. Binay Kumar Gupta Brother
with an understanding of industry verticals, regulatory jurisdictions, economic Mr. Krishan Kumar Gupta rights, responsibility that they are expected to perform/enjoy Gupta Mr. Bajrang Kumar Gupta Brother
conditions, cultures and a broad perspective on global market opportunities. Mr. Binay Kumar Gupta in the Company to keep them updated on the operations Mr. Krishan Kumar Gupta Brother
Mr. Bajrang Kumar Gupta
and business of the Company thereby facilitating their Mr. Binay Kumar Mr. Vinod Kumar Gupta Brother
Leadership Leadership experience leads to maximise efficiency and to achieve Company goals Mr. Vinod Kumar Gupta Gupta
active participation in managing the affairs of the Company. Mr. Bajrang Kumar Gupta Brother
by understanding the opportunities and threats, processes, strategic planning and Mr. Krishan Kumar Gupta
risk management and discussing the financial performance and long-term growth. Mr. Binay Kumar Gupta Mr. Krishan Kumar Gupta Brother
Mr. Bajrang Kumar Gupta As required under Regulation 25 of the SEBI (Listing Mr. Krishan Kumar Mr. Vinod Kumar Gupta Brother

Financial statements
Procurement, Sales Experience in procurement of raw materials, production aspects, marketing Mr. Vinod Kumar Gupta Obligations and Disclosure Requirements) Regulations, Gupta Mr. Binay Kumar Gupta Brother
& Marketing technical aspect of production, quality control, purchase management and Mr. Krishan Kumar Gupta 2015, the Company held various familiarization programmes Mr. Bajrang Kumar Gupta Brother
developing strategies to grow sales and market share, build brand awareness and Mr. Binay Kumar Gupta for the Independent Directors throughout the year on an Mr. Bajrang Kumar Mr. Vinod Kumar Gupta Brother
enhance Company reputation. Mr. Bajrang Kumar Gupta ongoing and continuous basis with a view to familiarizing Gupta Mr. Binay Kumar Gupta Brother
the independent Directors with the Company’s operations. Mr. Krishan Kumar Gupta Brother
The familiarization programmes carried out during the
year include: Note: No Other Directors in the Board are inter-se related
to each other.
Annual Report 2020-21
 Dollar Industries Limited

Who we are
(i) Shares held by Non-Executive Directors as on (a) Terms of reference: 10. Valuation of undertakings or assets of the Company, • Internal audit reports relating to internal control
31 March, 2021 wherever it is necessary; weaknesses, etc.
The present terms of reference / scope and function of the
Sl. No. Name No. of Shares Audit Committee are as follows: 11. Evaluation of internal financial controls and risk • Secretarial audit report relating to suspected
1. Mr. Anil Kumar Saboo 150 management systems; fraud or irregularity or a failure of compliance of
1. Oversight of the Company’s financial reporting process
2. Mr. Srikumar Bandyopadhyay NIL any legislation.
and the disclosure of its financial information to ensure 12. Reviewing, with the management, performance of
3. Mr. Binay Kumar Agarwal 5000 that the financial statement is correct, sufficient statutory and internal auditors, adequacy of the • Review the appointment, removal and terms of
4. Mr. Sunil Mitra* NIL and credible; internal control systems; remuneration of the chief internal auditor.

Our performance
5. Mr. Rajesh Kumar Bubna NIL
6. Mrs. DivyaaNewatia NIL 2. Recommendation for appointment, remuneration and 13. Reviewing the adequacy of internal audit function,  The Audit Committee is empowered to investigate
7. Mr. Sanjay Jhunjhunwalla** NIL
terms of appointment of auditors of the Company; if any, including the structure of the internal audit any activities within its terms of reference, seek
department, staffing and seniority of the official information from employees, obtain outside legal
3. Approval of payment to statutory auditors for any other
*Resigned from the Office of Directors w.e.f. 5 October, 2020 heading the department, reporting structure coverage or other professional advice or secure attendance
services rendered by the statutory auditors;
**Resigned from the Office of Directors w.e.f. 20 October, 2020. and frequency of internal audit; of outside experts of relevant field as and when
4. Reviewing, with the management, the annual financial necessitated. The Audit Committee also reviews such
14. Discussion with internal auditors of any significant
statements and auditor’s report thereon before matters as referred to it by the Board.
(3) AUDIT COMMITTEE: findings and follow up there on;
submission to the Board for approval, with particular
Pursuant to Regulation 18 of the SEBI (Listing Obligations reference to: 15. Reviewing the findings of any internal investigations  The Committee regularly meets in every quarter
and Disclosure Requirements) Regulations, 2015 read with by the internal auditors into matters where there is to review all the risk assessment and mitigation

Strategic priorities
a. Matters required to be included in the Director’s
Section 177 of the Companies Act, 2013 and Rules framed suspected fraud or irregularity or a failure of internal process for the same for all the identified risks for the
Responsibility Statement to be included in the
thereunder the Audit Committee has been constituted to control systems of a material nature and reporting the Company’s business segment.
Board’s report in terms of clause (c) of sub-
monitor and supervise the Company’s financial reporting matter to the Board;
section 3 of section 134 of the Companies Act,
process. The Audit Committee has been entrusted with (b) During the period under review 4 (Four) Audit Committee
2013; 16. Discussion with statutory auditors before the audit
review of quarterly and annual financial results/ financial meetings were held on 28 June, 2020, 14 August, 2020,
commences, about the nature and scope of audit as
statements before submission to the Board, review of b. Changes, if any, in accounting policies and 8 November, 2020 and 4 February, 2021.
well as post-audit discussion to ascertain any area
observations of auditors and to ensure compliance of practices and reasons for the same;
of concern;
internal control systems authority for investigation and (c) The composition of the Audit Committee and attendance of
c. Major accounting entries involving estimates
68 access for full information and external professional advice 17. To look into the reasons for substantial defaults in its meetings are given below: 69
based on the exercise of judgement
for discharge of the functions delegated to the Committee the payment to the depositors, debenture holders,
by management; No. of Meetings
by the Board. shareholders (in case of non-payment of declared Constitution
Held Attended
d. Significant adjustments made in the financial dividends) and creditors;
Mr. Binay Kumar Agarwal, Independent Director acts as statements arising out of audit findings; Mr. Binay Kumar Agarwal 4 4
18. To review the functioning of the Whistle Non-Executive – Independent – Chairman
the Chairman of the Committee, Mr. Vinod Kumar Gupta,

ESG approach
e. Compliance with listing and other legal Blower mechanism; Mr. Vinod Kumar Gupta 4 4
Mr. Rajesh Kumar Bubna and Mrs. Divyaa Newatia continues
requirements relating to financial statements; Executive – Promoter – Member
as the Members of the Committee. All the members of the 19. Approval of appointment of Chief Financial Officer
Mr. Rajesh Kumar Bubna 4 4
Committee are financially literate. f. Disclosure of any related party transactions; (i.e., the whole-time Finance Director or any other Non-Executive – Independent – Member
person heading the finance function or discharging
g. Qualifications in the draft audit report. Mrs. Divyaa Newatia 4 4
The Chairman of the Audit Committee was present at that function) after assessing the qualifications, Non-Executive – Independent – Member
the Annual General Meeting of the Company held on 1 5. Reviewing, with the management, the quarterly experience and background, etc. of the candidate;
September, 2020. financial statements before submission to the Board The Audit Committee meetings are held at Company’s
20. Reviewing the utilisation of loans/or advances from/
for approval; Registered Office and attended by members of the
investment by the holding Company in the subsidiary
The scope of the Audit Committee, inter alia, includes: Committee, other Accounts Heads and Process Owners.
6. Reviewing, with the management, the statement of exceeding ` 100 Crores or 10% of the asset size of
Representative of the Statutory Auditors and Internal
a) Review of the Company’s financial reporting uses / application of funds raised through an issue the subsidiary, whichever is lower including existing

Statutory reports
Auditors are also invited to the meeting for discussions on
process, the financial statements and financial/risk (public issue, rights issue, preferential issue, etc.), loans/advances/investments. Examining the financial
the concerned factors as and when required.
management policies; the statement of funds utilised for purposes other statement and the auditor’s report thereon;
than those stated in the offer document / prospectus
b) Review of the adequacy of the internal control systems 21. Monitoring the end use of funds raised through public Mr. Abhishek Mishra, Company Secretary and Compliance
/ notice and the report submitted by the monitoring
and finance of the internal audit team; offers and related matters; Officer of the Company acts as the Secretary of
agency monitoring the utilisation of proceeds of
the Committee.
c) Discussions with the management and the external a public or rights issue, and making appropriate 22. Carrying out any other function as is mentioned in the
auditors, the audit plan for the financial year and joint recommendations to the Board to take up steps in terms of reference of the Audit Committee.
post-audit and review of the same. this matter; (4) NOMINATION & REMUNERATION COMMITTEE:
23. To review:
d) Recommendation for appointment, remuneration & 7. Review and monitor the auditor’s independence and (a) Terms of reference:

Financial statements
• Management discussion and analysis of financial
terms of appointment of Auditors, etc. performance, and effectiveness of audit process;
condition and results of operations; The terms of reference of the Nomination & Remuneration
8. Approval or any subsequent modification of Committee are as follows:
• Statement of significant related party transactions,
transactions of the Company with related parties;
submitted by the management; i. To identify persons who are qualified to become
9. Scrutiny of inter-corporate loans and investments; Directors and who may be appointed in the Senior
• Management letters/letters of internal control
management in accordance with the criteria laid down
weaknesses issued by the Statutory Auditors;

Annual Report 2020-21

 Dollar Industries Limited

Who we are
and to recommend to the Board their appointment, Mr. Abhishek Mishra, Company Secretary and Compliance • Regular monitoring of corporate results against 2015 and amendments thereof, the Board of Directors
terms of appointment and/or removal; Officer of the Company acts as the Secretary of projection. at its meeting 29 May, 2021 has constituted Risk
the Committee Management Committee.
ii. To formulate a criteria for determining the qualification, • Identification, monitoring & mitigation of significant
positive attributes, independence of a Director and corporate risks.
(c) Board Evaluation (a) Terms of Reference:
evaluation of Independent Directors and the Board;
• Assessment of policies, structures & procedures followed
Pursuant to the provisions of the Companies Act, 2013 The terms of references of the Committee are as follows:
iii. To evaluate every Directors performance; in the Company and their significant contribution to the
and Regulation 17 (10) of SEBI (Listing Obligations and
same. • To formulate a detailed risk management policy.

Our performance
iv. To recommend to the Board a policy, relating to the Disclosure Requirements) Regulations, 2015, the Board has
remuneration for the Directors, Key Managerial carried out performance evaluation of its own performance • Direct, monitor & evaluate KMPs, senior officials. • To ensure that appropriate methodology, processes
Personnel and other employees; and that of its committees and individual Directors as per and systems are in place to monitor and evaluate risks
• Regularity in attending meetings of the Company and
the evaluation criteria formulated by the Nomination and associated with the business of the Company;
v. To ensure that the level of composition of remuneration inputs therein.
Remuneration Committee.
is reasonable and sufficient to attract, retain and • To monitor and oversee implementation of the risk
• Review & Maintenance of corporation’s ethical conduct.
motivate Directors of the quality required to run the management policy, including evaluating the adequacy
During the year, the Board has carried out an annual
Company successfully; • Ability to work effectively with rest of the Board of of risk management systems;
evaluation of its own performance, performance of the
Directors.
vi. To ensure that the relationship of remuneration to Directors, as well as the evaluation of the working of its • To periodically review the risk management policy, at
performance is clear and meets the appropriate committees. The objective of the Board evaluation includes • Commitment to the promotion of equal opportunities, least once in two years, including by considering the
performance benchmarks; improvement in the effectiveness of Board, Committees health and safety in the workplace. changing industry dynamics and evolving complexity;

Strategic priorities
and individual Directors, to enhance their strengths
vii. To ensure that the remuneration to Directors, Key • To keep the board of directors informed about the nature
and to overcome the short comings, the evaluation (5) STAKEHOLDERS RELATIONSHIP COMMITTEE:
Managerial Personnel and senior management and content of its discussions, recommendations and
process focuses on various issues facing the Company
involves a balance between fixed and incentive pay (a)  takeholders Relationship Committee comprised of
S actions to be taken;
and their prioritisation, quality of deliberations at Board
reflecting short- and long-term performance objectives Mrs. Divyaa Newatia as the Chairperson, Mr. Vinod Kumar
and Committee meetings, review of specific issues of • The appointment, removal and terms of remuneration of
appropriate to the working of the Company and Gupta and Mr. Rajesh Kumar Bubna as the members of
importance dealt during the evaluation period. the Chief Risk Officer (if any) shall be subject to review
its goals; the Committee.
by the Risk Management Committee.
viii. To devise a policy on Board diversity. The process of Board Evaluation broadly comprises
The Chairperson of the Stakeholders Relationship
70 of following: (b) The composition of the Committee is given below: 71
ix. To recommend to the Board, all remuneration, in Committee was present at the Annual General Meeting of
whatever form, payable to senior management; • The Board evaluates the performance of the Independent the Company held on 1 September, 2020. Sl. No. Name Designation
Directors excluding the Directors being evaluated. 1. Mr. Vinod Kumar Gupta Executive, Chairman
x. To Carry out any other function as is mandated by
Stakeholders Relationship Committee meet periodically 2. Mr. Binay Kumar Agarwal Non-Executive Independent,
the Board of Directors of the Company or prescribed • The Nomination and Remuneration Committee evaluates
to look into redressing of shareholders’ and investors Member
by the Listing Agreement / applicable regulations of the performance of each Director with respect to the

ESG approach
grievances like transfer of Shares, non-receipt of Balance 3. Mr. Rajesh Kumar Bubna Non-Executive Independent,
SEBI (LODR) Regulations, 2015 as amended from time responsibility as entrusted on him/her.
Sheet, non-receipt of dividend, etc. During the period Member
to time;
• The Independent Directors evaluates the performance of under review 4 (Four) Stakeholder Relationship Committee
xi. To invite any employee or such document as it may the Non-Independent Directors taking into account the meetings were held on 28 June, 2020, 14 August, 2020, (7) CORPORATE SOCIAL RESPONSIBILITY (CSR)
deem fit for exercising of its functions; views of the Executive and Non-Executive Directors and 8 November, 2020 and 4 February, 2021. COMMITTEE:
the Board as a whole.
xii. To obtain such outside or professional advice as it may The CSR Committee is responsible for compliance of its
(b) Details of compliance officer: Mr. Abhishek Mishra,
consider necessary to carry out its duties. • Performance Evaluation of the various Committee of the scope mentioned in its term of reference in relation to CSR
Company Secretary and Compliance Officer of the Company.
Board. and monitor the implementation of approved CSR policy
(b) During the year under review 2 (Two) meetings of the
and shall meet periodically, to review & ensure orderly and
Nomination and Remuneration Committee were held on (c) Shareholders’ Complaints
Performance evaluation criteria for Independent efficient execution of the CSR project, programs or activities
28 June, 2020 and 4 February, 2021.

Statutory reports
Directors: The numbers of shareholders’/ investors’ complaints and issue necessary direction pertaining to it.
The following criteria may assist in determining how received, resolved/ replied and pending during the year
The composition of the Nomination and Remuneration
effective the performances of the Independent Directors under review are as under: The CSR Committee comprised of Mr. Vinod Kumar Gupta
Committee and attendance of its meetings are given below:
have been: acts as the Chairman, Mr. Krishan Kumar Gupta and
Resolved/
No. of Meetings Nature of complaints Received Pending Mr. Binay Kumar Agarwal continues to be the members of
Constitution • Leadership & Managerial abilities. Replied
Held Attended Non-receipt of share certificates Nil Nil Nil
the Committee.
Mr. Rajesh Kumar Bubna 2 2 • Contribution to the corporate objectives & plans.
Non-receipt of dividend Nil Nil Nil
Non-Executive – Independent – Chairman The CSR Committee meet as and when required. During the
• Communication of expectations & concerns clearly with Non-receipt of annual reports Nil Nil Nil
Mr. Binay Kumar Agarwal 2 2 year the Committee meets 2 (two) times on 28 June, 2020
subordinates. Others Nil Nil Nil
Non-Executive – Independent – Member and 4 February, 2021.

Financial statements
Total Nil Nil Nil
Mrs. Divyaa Newatia 2 2 • Obtaining adequate, relevant & timely information from
Non-Executive – Independent – Member external sources. Mr. Abhishek Mishra, Company Secretary and Compliance
(6) RISK MANAGEMENT COMMITTEE:
Officer of the Company acts as the Secretary of
The Chairman of the Nomination & Remuneration • Review & approval of strategic & operational plans of the
In compliance with Regulation 21 of SEBI (Listing the Committee.
Committee was present at the Annual General Meeting of Company, its objectives and budgets.
Obligations & Disclosure Requirements) Regulations,
the Company held on 1 September, 2020.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
(a) Terms of reference: The Share Transfer Committee meet as and when required Notes: b. 
Presentations to institutional investors / analysts:
and is entrusted with Transfer / transmission of shares, Detailed presentations are made to institutional investors
1. To formulate and recommend to the Board, a Corporate 1. The appointment/ agreement of all Managing /Executive
issue of duplicate share certificates, change of name / and financial analysts on the Company’s quarterly, half yearly
Social Responsibility (CSR) Policy related to the CSR /Whole-time Directors can be terminated by giving three
status, transposition of names, sub-division / consolidation as well as annual financial results. These presentations are
activities to be undertaken by the Company as provided in months’ notice by either party.
of share certificates, dematerialisation / rematerialisation available on the website of the Company, as well as sent
the Schedule VII and any other related provisions, if any, of
of shares, etc. 2. The Company has not entered into any other pecuniary to the Stock Exchanges. No unpublished price sensitive
the Companies Act, 2013 and the rules made there under.
relationship or transactions with the Non-Executive Directors. information is discussed in meeting / presentation with
2. To institute a transparent monitoring mechanism for During year under review no meeting was held. institutional investors and financial analysts.

Our performance
3. The Executive Directors have waived some portion of their
implementation of the CSR projects or programs or activities
salary in view of Covid-19 pandemic.
undertaken by the Company. c. BSE Listing Centre (Listing Centre) & NSE Electronic
(10) REMUNERATION OF DIRECTORS:
Application Processing System (NEAPS): BSE’s Listing
3. To recommend the amount of expenditure to be incurred on
(a) Remuneration Policy /Criteria: (11) GENERAL BODY MEETINGS: Centre is a web-based application designed for corporates.
the CSR activities as per the requirement of the Companies
All periodical and other compliance filings are filed
Act, 2013 and the rules made there under. • Executive Directors: The Company follows the policy a) Location and time of Annual General Meetings held in the
electronically on the Listing Centre. NEAPS is a web-based
to fix remuneration of Managing Director& Whole-time last three years:
4. To carry out such other functions as may from time to time, application designed by NSE for corporates. All periodical
Directors by taking into account the financial position
be authorised by the Board and/or required by any Statutory Year Date Venue Time and other compliance filings are filed electronically
of the Company, trend in the industry, qualification,
Authority, by the way of amendment and/or otherwise, as 2019-20 1 September, Om Towers, 15th Floor, 11:00 on NEAPS.
experience, past performance and past remuneration
the case may be, to be attended by this Committee. 2020 32 J.L. Nehru Road, A.M.
of the respective Directors in the manner to strike a

Strategic priorities
Kolkata-700071 (deemed d. Website: The Company’s website displays official news
balance between the interest of the Company and the venue) [the meeting releases in a prompt manner. The Company presentations
(8) MANAGEMENT & FINANCE COMMITTEE: Shareholders. was held through video made to institutional investors or to the analysts are
conferencing/other audio
The Management & Finance Committee comprises of • Non-Executive Directors: The Non-executive Directors’ disseminated to Stock Exchanges and are also displayed
video means (OAVM]
Mr. Vinod Kumar Gupta as the Chairman, Mr. Krishan Kumar (including Independent Directors) be paid sitting fees on on the website of the Company at www.dollarglobal.in.
2018-19 30 August, Rotary Sadan, S.S. Hall, 12:30
Gupta, Mr. Rajesh Kumar Bubna and Mr. Binay Kumar a uniform basis. 2019 94/2, Chowringhee Road, P.M.
Agarwal as the members of the Committee. Kolkata-700 020
• KMPs & Senior Management Personnel: The motive (13) GENERAL INFORMATIONS FOR MEMBERS:
The Committee is entrusted to carry out the authority as of determining policy for payment of remuneration to 2017-18 12 September, Rotary Sadan, S.S. Hall, 12:30
2018 94/2, Chowringhee Road, P.M. a. Annual General Meeting (Date, Time& Deemed Venue):
72 delegated by the Board and meet as and when required. the KMPs and Senior Management Personnel are to 73
Kolkata-700 020 Tuesday, 28 July, 2021 at 11:00 a.m. (IST) through video
motivate and retain them for longer term for the better
During the year under review the Committee met for 3 times conferencing/other audio video means (OAVM) at Registered
perspective and growth of the Company. The criteria also b) 2 (Two) Special Resolution was passed in the Annual general
on 3 June, 2020, 20 January, 2021 and 25 February, 2021. Office of the Company situated at Om Tower, 15th Floor,
oversee the industry trend, quality and experience of the Meeting held for the financial year 2019-20.
32 J.L. Nehru Road, Kolkata-700071(deemed venue).
personnel.
(9) SHARE TRANSFER COMMITTEE: c) No Special Resolution was passed in the Annual general

ESG approach
(b) Sitting Fees: b. Financial Year: April’2020-March’2021.
Meeting held in the last financial year i.e., 2018-19
The Share Transfer Committee comprises of Mr. Krishan
The sitting fees paid to the non-executive Directors for
Kumar Gupta, Mr. Rajesh Kumar Bubna and Mr. Vinod c. Dividend payment date: Within 30 days from the date of
attending the Board and the Committee meetings for the d) 5 (Five) Special Resolution(s) were passed in the Annual
Kumar Gupta. Mr. Krishan Kumar Gupta acts as the declaration in AGM.
financial year under review were duly recommended by general Meeting held for the financial year 2017-18.
Chairman of the Committee.
the Board and were within the limits as specified in the
d. Date of Book Closure: 22.07.2021 till 28.07.2021 (both
Companies Act, 2013 and rules framed thereunder. e) No Special Resolution was passed through Postal Ballot in
days inclusive).
the last financial year i.e., 2019-20.
(c) Remuneration to Directors:
e. Listing: The National Stock Exchange of India Ltd. (NSE)
f) There are no Special Resolution(s) proposed to be passed
The statement of the remuneration paid /payable to the Managing /Whole-time /Executive Directors and Sitting Fees paid/ Exchange Plaza, 5th Floor, Plot No. C/1,
in the ensuing Annual general Meeting for the financial year
payable to Non-Executive Directors is given below: ‘G’ Block, Bandra-Kurla Complex, Bandra (E),

Statutory reports
2020‑21.
Mumbai-400 051
Name of Directors Remuneration paid/ payable for 2020-21 Service Contract
(Scrip Code-DOLLAR)
Salary Benefits Sitting Fees Pay per month Period Effective from
(12) MEANS OF COMMUNICATION:
Mr. Vinod Kumar Gupta 96.90 12.00 - 8.50 5 years 01.09.2016 BSE Ltd. (BSE)
Mr. Binay Kumar Gupta 96.90 9.00 - 8.50 5 years 01.09.2016 a. Quarterly results: The Company’s quarterly / half-yearly / Phiroz Jeejeebhoy Towers, Dalal Street,
Mr. Bajrang Kumar Gupta 68.40 9.00 - 6.00 5 years 01.09.2016 annual financial results are sent to the Stock Exchanges Mumbai-400 001
Mr. Krishan Kumar Gupta 68.40 15.00 - 6.00 5 years 01.09.2016 and generally published in ‘Business Standards’ and ‘Aaj (Scrip Code-541403)
Mr. Gopalakrishnan Sarankapani 15.13 - - 1.50 5 years 14.08.2015 Kal’. They are also available on the website of the Company.
Mr. Binay Kumar Agarwal - - 0.94 - - - No listing fees are due as on date to the aforesaid
Mr. Sunil Mitra* - - 0.10 - - - Stock Exchanges.

Financial statements
Mr. Rajesh Kumar Bubna - - 1.06 - - -
Mrs. DivyaaNewatia - - 1.00 - - -
Mr. Anil Kumar Saboo - - 0.40 - - -
Mr. Srikumar Bandyopadhyay - - 0.30 - - -
Mr. Sanjay Jhunjhunwalla** - - 0.00 - - -
*Resigned from the Office of Directors w.e.f. 5 October, 2020
**Resigned from the Office of Directors w.e.f. 20 October, 2020.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
f. Stock Market price Data: Monthly High/ Low price during the last Financial Year at The National Stock Exchange of India Ltd. k. Transfer of Shares to Investor Education & Protection pursuant to the said Rules to take immediate action in
depicting liquidity of the Equity Shares is given hereunder: Fund (IEPF) (in case where Unclaimed Dividends have the matter.
been transferred to IEPF for a consecutive period of
Share Price
Month Seven Years Further, it may also be noted that in terms of Section 124(6)
High Price Low Price
and 125(3) of the Companies Act, 2013 read with Rule 7of
April,2020 140.90 106.15 In terms of Section 124 and125of the Companies Act,
the IEPF Rules, shares and dividends which have been
May, 2020 128.90 106.35 2013 read with Investor Education & Protection Fund (IEPF)
transferred, if any to the IEPF Authority may be claimed by
June, 2020 148.00 115.00 Authority (Accounting Audit, Transfer and Refund) Rules
making an online application in Form No. IEPF-5 which is

Our performance
July, 2020 143.40 125.00 2016, all shares in respect of which dividends has remained
available at www.iepf.gov.in
August, 2020 164.80 125.00 unpaid/ unclaimed for a consecutive period of 7 (Seven)
September, 2020 149.55 129.50 years or more from the date they became due for payment
However, since there is no un-paid / un-claimed dividend for
October, 2020 146.90 130.50 are required to be transferred by the Company to the
the year 2013-14, there is no need to transfer the shares to
November, 2020 197.70 135.05 Investor Education and Protection Fund (IEPF) administered
IEPF Account.
December, 2020 255.50 177.00 by the Central Government.
January, 2021 249.45 206.00 l. Details of outstanding shares in the Unclaimed
February, 2021 274.00 220.25
As required under the said Rules, the Company will publish
Suspense Account:
March, 2021 283.80 229.00
notices in the newspapers inviting the members attention
to the aforesaid Rules. The Company will also send out In terms of Regulation 39(4) read with Schedule VI of the
individual communication to the concerned Members Listing Regulations, there is no equity shares lying in the

Strategic priorities
g. Performance in comparison: Share price performance in comparison to broad based indices- BSE Sensex is presented below:
whose shares are liable to be transferred to IEPF Account, suspense account which was issued in either demat form
or physical form.
300 60,000
m. Distribution of Shareholding as on 31 March, 2021:
250 50,000
Share Limit
No. of Live A/c’s % to Live A/cs. Total No. of Shares % to Total Shares
200 40,000 From To
1 500 13934 90.95 1107728 1.95
74 150 30,000 501 1,000 551 3.60 426582 0.75 75
1001 5,000 567 3.70 1286893 2.27
100 20,000 5001 10,000 87 0.57 641021 1.13
10001 50,000 129 0.84 2910093 5.13
50 10,000 50001 1,00,000 19 0.12 1480015 2.61

ESG approach
100001 And Above 33 0.22 48863788 86.16
0 Total 15320 100.00 56716120 100.00
0
Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21
n. Share Holding Pattern as on 31 March, 2021:
BSE Sensex Dollar Industries Limited closing price
Sl.
Category No. of Shares % of holding
No
1 Promoters & Associates 41354464 72.92
h. Registrar and Transfer Agent: Directors/Executives/Officers as may be authorised 2 Mutual Funds & UTI 2108794 3.72
by the said Committee. Request for transfers received
Niche Technologies Pvt. Ltd. 3 Banks, Financial Institutions, Insurance Companies (Central/ State Govt., Institutions) 0 0.00
from members and miscellaneous correspondence
(SEBI Registration No.: INR 000003290) 4 Foreign Portfolio Investors 0 0.00
are processed/resolved by the Registrars within the

Statutory reports
3A, Auckland Place, 5 Alternate Investment Funds 17600 0.03
stipulated time.
7th Floor, Room No 7A & 7B, Kolkata-700 001 6 Private Corporate Bodies 5285463 9.32
Phone Nos.: 033-2234 3576 / 033-2235 7270 / 7271. 7 Indian Public 7530788 13.28
j. Unclaimed Dividends:
Fax-033-2215 6823 8 NRI’s / OCBs 349872 0.61
e-mail: [email protected] The Company is required to transfer dividends which have 9 Clearing Members 62681 0.11
Website: www.nichetechpl.com remained unpaid/ unclaimed for a period of seven years 10 Trust 6458 0.01
Contact Person: Mr. Shoaib Abbas to the Investor Education & Protection Fund established Total 56716120 100.00
by the Central Government. During financial year 2021-22,
i. Shares Transfer System: final dividend for the year 2013-14 declared at the AGM
o. Dematerialisation of Shares:
of the Company held on 29 September, 2014 if remained

Financial statements
Share Transfer System is entrusted to the Registrar and
unpaid/ unclaimed as on 4 November, 2021 would have to ISIN: INE325C01035
Share Transfer Agents. Share Transfer Committee Meeting
be required to transfer to the IEPF Authority. However, there
is held as and when required to approve the share transfer, 99.90% of the total equity share capital is held in dematerialised form with National Securities Depository Ltd. & Central
is no un-paid / unclaimed dividend for the year 2013-14.
issue of duplicate certificate etc. and are endorsed by Depository Services Limited as on 31.03.2021.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
p. Outstanding Instruments: g. Disclosures of commodity price risks and commodity n. No Disqualification Certificate from Company Secretary
hedging activities: in Practice:
The Company has not issued any GDRs / ADRs / Warrants or any convertible Instrument. As such, there is no impact on Equity
of the Company. The Company is not associated with any hedging activities. Certificate from Mr. Santosh Kumar Tibrewalla, Practicing
Company Secretary, confirming that none of the Directors
q. Commodity Price Risk/Foreign Exchange Risk and with hedging activities: h. Certificate from Company Secretary in practice: on the Board of the Company have been debarred or
disqualified from being appointed or continuing as directors
Not applicable to the Company as Company is not associated with hedging activities As required under the provisions of Schedule V of Securities &
of companies by the SEBI, Ministry of Corporate Affairs,
Exchange Board of India (Listing Obligations and Disclosure

Our performance
or any such other Statutory Authority, as stipulated under
r. Plant Location: Requirements) Regulations, 2015, a certificate from a
Regulation 34 (3) of the Listing Regulations, is attached to
Company Secretary in Practice have been received stating
Location State Address this Report.
that none of the Directors on the Board of the Company
Plant Delhi Gali Towerwali, Khasra No. 642/2, Near Metro Pillar No. 504, Delhi-110 041. have been debarred or disqualified from being appointed or
Tamil Nadu No. 11, Murugananthapuram East Road, M.S. Nagar, Kongu Main Road, Tirupur-641 607. o. Management Discussion and Analysis Report:
continuing as Directors of companies by the Board/Ministry
S.F. No. 440, N.H.7, V. Pudukkottai-Village, Minukkampatti-P.O., Vedasandur-624 711. of Corporate Affairs or any such statutory authority. The Management Discussion and Analysis Report as
8/624, Angeripalayam Road, Tirupur-641 603. required under Regulation 34(2)(e) of Securities &
8/191, Angeripalayam Road, Tirupur-641 603. i. Fees of statutory auditors on a consolidated basis paid Exchange Board of India (Listing Obligations and Disclosure
i. S. F. No. H-17, 18, 19, 20, 24, 25, 26 SIPCOT Industrial Growth Centre, Perundurai, Erode Dist. Pin-638 052 by the Company and its subsidiaries: Requirements) Regulations, 2015 is annexed hereto which
Unit West Bengal 28, B. T. Road, Kolkata-700 002 forms part of this report.
The total fees for all services paid by the Company and

Strategic priorities
F-190, Salpata Bagan, Agarpara, 24 Paraganas(N), Kolkata-700 109
its subsidiaries, on a consolidated basis, to the statutory
64/1/1/88, Jessore Road, Block-10, Barasat, Kolkata-700124
Punjab Village Bhattian, Opposite Sacred Heart Convent School, Backside Metro Mall, Ludhiana-141 008.
auditor M/s. Singhi & Co (Firm Registration No. 302049E), (15) DISCLOSURE OF NON-COMPLIANCE OF ANY
Chartered Accountants was ` 33.50 Lacs. M/s. Singhi & REQUIREMENT OF CORPORATE GOVERNANCE
Tamil Nadu S.F.111, Pongupalayam village, Kalampalayam, Avinashi-641666
Co is not a part of any entity/ firm which are in the same REPORT OF SUB-PARAS (2) TO (12) ABOVE, WITH
S.F. 191, Angeripalayam Road, Tirupur-641603
network of the Company. REASONS THEREOF:
s. Address for Correspondence: Dollar Industries Limited c. Vigil Mechanism / Whistle Blower Policy: There is no non-compliance of any requirement of Corporate
j. Accounting Treatment in preparation of financial
Governance Report of sub-paras (2) to (12) above, thus no
‘Om Tower’, 15th
Floor, 32, J. L. Nehru Road, The Whistle Blower policy of the Company is in place and statement:
explanations need to be given.
76 Kolkata-700 071 the Company not denied access to Audit Committee to any 77
The Company has prepared its financial Statement in
Phone Nos. 033-2288 4064/4065/4066 personnel of the Company.
accordance with the recognition and measurement
Fax: 033-2288 4063 (16) DISCLOSURE OF THE EXTENT TO WHICH THE
principles laid down in Indian Accounting Standards (IND
email: [email protected] d. Details of compliance with mandatory requirements DISCRETIONARY REQUIREMENTS AS SPECIFIED
AS) as prescribed under Section 133 of the Companies Act,
and adoption of non-mandatory requirements of the IN PART E OF SCHEDULE II HAVE BEEN ADOPTED:
2013 and rules framed thereunder.
t. Credit Ratings: Corporate Governance:

ESG approach
a. Office to Non-Executive Chairperson: The Company does
Your Company has obtained A+ and A1+ credit ratings for The Company has complied with all the applicable k. Risk Management: not have any regular Chairperson.
its Long-term and Short-term bank facilities, respectively, mandatory Regulations of SEBI (LODR) Regulations, 2015
The Company has identified risk involved in respect to its
issued by Care Ratings Limited (Credit Rating Company) and has adopted the following non-mandatory requirements b. The financial statement of your Company is continued to be
products, quality, cost, location and finance. It has also
of the aforesaid Regulations: with unmodified audit opinion.
adopted the procedures / policies to minimise the risk and
(14) OTHER DISCLOSURES: the same are reviewed and revised as per the needs to
The Company has taken cognizance of other non-mandatory c. Separate posts of Chairperson & CEO: The Company does
minimise and control the risk.
a. Disclosures on materially significant related party requirements as set out in applicable Regulations of SEBI not have any regular Chairperson since the resignation of
transactions i.e. transactions of the Company of (LODR) Regulations, 2015 and shall consider adopting the Mr. Din Dayal Gupta. Mr. Vinod Kumar Gupta, Managing
l. CEO / CFO certification:
material nature, with its promoters, Directors or the same at an appropriate time. Director continues to be the CEO of the Company.
management, their subsidiaries or relatives, etc. that The CEO / CFO certification as required under Regulation

Statutory reports
may have potential conflict with the interests of listed e. Policy for determining ‘material’ subsidiaries: 17(8) of Securities & Exchange Board of India (Listing d. The Internal Auditors report directly to the Audit Committee.
entity at large: Obligations and Disclosure Requirements) Regulations,
The Company does not have any material non-listed Indian
2015 is annexed hereto which forms part of this report.
None of the transactions with any of the related parties Subsidiary as defined in Regulation 24 of Securities & (17) CODE OF CONDUCT:
were in conflict with the interest of the Company. Exchange Board of India (Listing Obligations and Disclosure
m. Annual Secretarial Compliance Report: The Company has framed Code of Conduct for all the
Requirements) Regulations, 2015.
Board Members, Key Managerial Personnel and other
b. Details of non-compliance by the Listed Entity, Pursuant to the SEBI circular no.CIR/CFD/ CMD1/27/2019
Senior Executives of the Company who have affirmed
penalties, strictures imposed on the Listed Entity by f. Web link where policy on dealing with related party dated 8 February, 2019, the Company has obtained an
compliance with the same as on 31 March, 2021. A duty of
Stock Exchange(s) or Securities and Exchange Board of transactions: Annual Secretarial Compliance Report from Mr. Santosh
the Independent Directors has been duly incorporated in
India or any Statutory Authority, on any matter related Kumar Tibrewalla Practicing Company Secretary, confirming

Financial statements
Policy on dealing with related party transaction is displayed the code. The Code is displayed on the Company’s website
to the capital markets, during the last three years: compliance of SEBI Regulations / Circulars / Guidelines
at https://www.dollarglobal.in/assets/upload/corporate- at https://www.dollarglobal.in/assets/upload/corporate-
issued thereunder and applicable to the Company. There
No penalty or strictures have been imposed on the Company policy/policy-on-related-party-transactions.pdf. policy/companys-code-of-conduct.pdf. A declaration signed
are no observations or adverse remarks in the said report.
by any of the aforesaid authorities during the last 3 years. by the CEO is annexed as Annexure-‘E’.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
In pursuance of the Securities and Exchange Board of (19) SECURITIES AND EXCHANGE BOARD OF INDIA ANNEXURE-‘C’ TO THE DIRECTORS’ REPORT
India (Prohibition of Insider Trading) Regulations 1992 (as (‘SEBI’) COMPLAINTS REDRESS SYSTEM
amended), the Board has approved the ‘Code of Conduct (“SCORES”):
CERTIFICATE OF COMPLIANCE OF CORPORATE GOVERNANCE AS REQUIRED UNDER
for prevention of Insider Trading’ and entrusted the Audit
As per the SEBI directive, the investors desirous of making
REGULATION 34(3) READ WITH SCHEDULE V OF SEBI (LISTING OBLIGATIONS &
Committee to monitor the compliance of the code. The
Board had approved and adopted the SEBI (Prohibition of
complaints pertaining to the listed Companies has to be DISCLOSURE REQUIREMENTS) REGULATIONS, 2015
made electronically and sent through SCORES and the
Insider Trading) Regulations, 2015 relating to the code of
Companies or their appointed Registrar & Share Transfer
practices and procedure for fair disclosure of Unpublished

Our performance
Agent (R&TA) are required to view the pending complaints
Price Sensitive Information and formulated the code of
and submit ‘Action Taken Report’ (‘ATRs’) along with To The Members of M/s. DOLLAR INDUSTRIES LTD
conduct of the Company.
necessary documents electronically in SCORES. Further,
there is no need to file any physical ATRs with SEBI. The I have examined the Compliance of Corporate Governance of M/s. Dollar Industries Limited for the financial year 2020-21, as
(18) VIGIL MECHANISM POLICY: Company is already registered under SCORES to efficiently stipulated under applicable regulations of Securities & Exchange Board of India (Listing Obligations and Disclosure Requirements)
and effectively redress the investors/shareholders Regulations, 2015 and Listing Agreement entered into by the said Company with the Stock Exchanges.
As per the requirements of the Companies Act, 2013 and
complaints in time.
applicable Regulations of Securities & Exchange Board of
The Compliance of conditions of Corporate Governance is responsibility of the Management. My examination was limited to a review
India (Listing Obligations and Disclosure Requirements)
of the procedures and implementation thereof, adopted by the Company for ensuring compliance with conditions of the Corporate
Regulations, 2015, the Company had established a (20) (DISCLOSURES OF THE COMPLIANCE WITH
Governances. It is neither an audit nor an expression of opinion on the financial statements of the Company.
mechanism for employees to report concerns for unethical CORPORATE GOVERNANCE REQUIREMENTS

Strategic priorities
behavior, actual or suspected fraud, or violation of the SPECIFIED IN REGULATION 17 TO 27 AND
In my opinion and to the best of my information and according to the explanation given to me, I certify that the Company has generally
code of conduct or ethics. It also provides for adequate CLAUSES (B) TO (I) OF SUB-REGULATION (2) OF
complied with the condition of Corporate Governance as stipulated under applicable Regulations of Securities & Exchange Board
safeguards against the victimisation of employees who REGULATION (46):
of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
avail the said mechanism. This policy also allows the direct
The Company is in compliance with the requirements of
access to the Chairperson of the Audit Committee. The
aforesaid Regulations. I further state that such compliance is neither an assurance as to the future viability of the Company nor the efficiency or effectiveness
Audit Committee is committed to ensure the flawless work
with which the management has conducted the affairs of the Company.
environment by providing a platform to report any suspected
or confirmed incident of fraud/ misconduct.
78 79
(Santosh Kumar Tibrewalla)
Practicing Company Secretary
Membership No.: 3811
Date: 29 May, 2021 Certificate of Practice No.: 3982

ESG approach
Place: Kolkata UDIN:F003811C000390087

Statutory reports
Financial statements
Annual Report 2020-21
 Dollar Industries Limited

Who we are
ANNEXURE-‘D’ TO THE DIRECTORS’ REPORT ANNEXURE-‘E’ TO THE DIRECTORS’ REPORT
CERTIFICATION BY MANAGING DIRECTOR-CHIEF EXECUTIVE OFFICER (CEO) AND DECLARATION FOR COMPLIANCE WITH THE CODE OF CONDUCT OF THE REGULATION
CHIEF FINANCIAL OFFICER OF THE COMPANY (CFO) 26(3) READ WITH SCHEDULE V OF SECURITIES & EXCHANGE BOARD OF INDIA (LISTING
OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015

Our performance
To, B. There are, to the best of our knowledge and belief, no I, Vinod Kumar Gupta, Managing Director (CEO) of M/s. Dollar Industries Limited declare that as of 31 March, 2021 all the Board
The Board of Directors, transactions entered into by the Company during the year Members and Senior Management Personnel have affirmed compliance with the Code of Conduct of the Company.
Dollar Industries Limited, are fraudulent, illegal or violative of the Company’s Code
‘Om Tower’, 15th Floor, of Conduct.
32, J.L. Nehru Road, For Dollar Industries Limited
Kolkata-700 071. C. We accept responsibility for establishing and maintaining
internal controls for financial reporting and that we have
Dear Sirs, evaluated the effectiveness of the internal control systems Vinod Kumar Gupta
of the Company pertaining to financial reporting and we Date: 29 May, 2021 Managing Director
Sub: Certification by Managing Director (CEO) and CFO of have disclosed to the Auditors and the Audit Committee,

Strategic priorities
Place: Kolkata (DIN: 00877949)
the Company deficiencies in the design or operation of such internal
controls, if any, of which we are aware and the steps we
In terms of Regulation-17(8) of Securities & Exchange Board have taken or propose to take to rectify these deficiencies.
of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015, we, Vinod Kumar Gupta, Managing Director D. We have indicated to the Auditors and the Audit Committee:
(CEO) and Ankit Gupta, Chief Financial Officer (CFO), certify that:
i) significant changes in internal control over financial
reporting during the year;
A. We have reviewed financial statements and the cash flow
80 statement for the financial year 2020-21 (hereinafter 81
ii) significant changes in accounting policies during the
referred to as ‘Year’) and to the best of our knowledge
year and that the same have been disclosed in the
and belief–
notes to the financial statements; and
a. These statements do not contain any materially
untrue statement or omit any material fact or contain iii) that we have not come across any instances of

ESG approach
statements that might be misleading; significant fraud and the involvement therein of
the management or an employee having significant
b. These statements together present a true and fair
role in the Company’s internal control system over
view of the Company’s affairs and are in compliance
financial reporting.
with existing accounting standards, applicable laws
and regulations.

For Dollar Industries Limited

Statutory reports
Vinod Kumar Gupta Ankit Gupta
Date: 29 May, 2021 Managing Director Chief Financial Officer
Place: Kolkata (DIN: 00877949)

Financial statements
Annual Report 2020-21
 Dollar Industries Limited

Who we are
ANNEXURE-‘F’ TO THE DIRECTORS’ REPORT India’s Domestic Textile and Apparel Market Size (US$ billion)

MANAGEMENT DISCUSSION AND ANALYSIS 190

0%
R1 13
CAG
42
had been lifted in the second half of the year and there was -30%
a pick-up in demand as well. However, the second wave of the

Our performance
virus towards the end of FY 2020-21, instilled fear among the 106
8
populace and full or partial lockdowns are being slowly imposed 0%
PRELUDE R1
CAG 20 75
across the states. Despite the surge in Covid-19 cases across the
6.5 135
Dollar Industries Limited was established in 1972 and over the country, IMF has raised its growth forecast of the Indian economy 15
50
years, we have been able to solidify our position as one of the to 12.5% for FY 2021-22 and 6.9% for FY 2022-23. 4
most respected and recognised innerwear manufacturer in the 11 78
28
This optimism is being driven by India’s focus on normalising 2 55
world. We have a deep product basket and cater to the evolving 5 35
economic activities, coupled with the quick roll-out of the
demands of men, women and children comprising innerwear both 21
vaccine, favourable demography and the increasing population
men and women including athleisure, casual wear, camisoles
and urbanisation is projected to drive the India growth story over 2005-06 2010-11 2019-20 2020-21 (E) 2025-26 (P)
and thermals. Headquartered in Kolkata, we possess four state-
the foreseeable future. (Source: IMF)

Strategic priorities
of-the-art manufacturing facilities in Kolkata, Tirupur, Delhi and Apparel Technical Textiles Home Textiles Total
Ludhiana. In FY 2019-20, we restructured our brand architecture
to ensure sustainable growth over the foreseeable future. (Source: Wazir Advisors)

INDIAN TEXTILE AND APPAREL INDUSTRY

The Indian textile and apparel industry is an integral part of the
INDIAN ECONOMY Indian economy; it accounts for 2% of India’s GDP and 12% of the
INDIAN INNERWEAR INDUSTRY
82 country’s export earnings. It is the second largest in the country, 83
The year under review was the perhaps the most challenging
one in recent history, characterised by volatility and instability.
providing employment to ~45 million directly and ~60 million in
allied industries.
Over the years, innerwear had only been considered as an
essential commodity, but there has been a significant shift in
` 897 BILLION
The outbreak of the novel coronavirus and the consequent
trend due to the increasing fashion consciousness among the ESTIMATED VALUE OF THE INNERWEAR
pandemic-induced lockdown caused global trade disruptions on
IMPACT OF COVID-19 millennials; it transformed into a fashion statement. As a result INDUSTRY IN 2028
a significant scale.
of this shift, industry players have placed greater emphasis on

ESG approach
• Manufacturing: The pandemic-induced lockdown resulted in
The Indian economy was also affected by this once-in-a-century widening its innerwear product range – both men’s as well as
all manufacturing activities coming to a standstill, barring few
crisis as it recorded a de-growth of ~8% during FY 2020-21, women’s. The Indian innerwear industry is largely dominated by
compared to the growth rate of 4.2% in the previous year. The
manufacturers who were involved in the production of PPEs
the unorganised player, who account for ~60-65% of the overall ` 217 BILLION
sharp slowdown in economic growth and surge in inflation • Logistics: The lockdown caused significant disruptions in market share. However, the market is gradually shifting towards
ESTIMATED VALUE OF THE MEN’S
resulted in the Indian rupee emerging as one of the worst logistics and external trade, which resulted in a significant organised retail. This could be attributed to the focus of the
INNERWEAR INDUSTRY IN 2028
performers among its Asian peers, validated by a depreciation decline in net trade compared to the previous years organised players on capacity building initiatives for innerwear.
of 2.83% in 2020 from ` 71.28 to ` 73.30 levels. Consumer Over the last few years, the premium innerwear market has also
• Bulk cancellation: There was mass cancellation of orders
sentiment remained muted due to macroeconomic factors been gaining significant traction with the entry of global players in
from international, as well as domestic buyers, due to the
like the increasing unemployment rate and reduced per capita
income; unemployment rate increased to ~26.2% and per
uncertain scenario
collaboration with Indian brands. Higher discretionary spending,
rise in number of working women, and the increasing fashion
` 680 BILLION

Statutory reports
capita income is projected to have declined by ~5.4% to reach • Changing trend: There was a significant increase in consciousness among the populace, especially the millennials, ESTIMATED VALUE OF THE WOMEN’S
~` 1.27 Lacs in FY 2020-21. e-commerce sales of goods and innerwear. Based on and the increasing number of middle-class households is INNERWEAR INDUSTRY IN 2028
the e-commerce statistics, the demand for casual wear projected to catalyse the demand for the inner wear industry.
The Prime Minister of India announced stimulus packages worth
was significantly higher than that of formals, which (Source: SMIFS Limited)
` 20 Lacs crore to start with and then a comprehensive financial
could be attributed to the nationwide adoption of the
package of ` 2.65 trillion to ensure that the country is able to
work-from-home model
withstand the challenges induced by the pandemic. India showed Growth drivers
signs of a V-shaped recovery owing to the culmination of various • Decline in physical sales: The lockdown restrictions imposed
factors such as a consistent agricultural performance, increased by the Government, resulted in a slump in physical retail sales
government spending, the introduction of the production-linked for a period of 4-5 months.

Financial statements
incentive (PLI) scheme, the roll-out of vaccines amid the flattening
However, the quick roll-out of vaccines is the set Indian economy
of the COVID-19 infection curve in the second half of the financial
on its path towards normalcy and is projected to improve Increase in
year under review (Source: KPMG, Business Standard, Business Today, Changing Increase
consumer sentiment over the foreseeable future. This, coupled middle-class Premiumisation
Times of India)
with the improvement of global trade and the Government’s push buying trends urbanisation
households
Outlook for ‘Atmanirbhar Bharat’ will drive the growth of the Indian textiles
India had taken proactive measures to ensure the containment and apparel industry. (Source: Wazir Advisors)
of the virus to attain economic normalcy. Lockdown restrictions

Annual Report 2020-21

 Dollar Industries Limited

Who we are
SWOT ANALYSIS OF INNERWEAR INDUSTRY
Growth drivers
Strengths Weaknesses

• Easy availability of raw materials • Primarily cotton-based industry

• Availability of cheap and skilled labour • Lack of specialised fabric which is used for
swimwear and skywear, among others
• Favourable government policies Internet and

Our performance
Fitness One-in-all Fitness
• Lack of technology upgradation in the Work-from-home smartphone
• Rich heritage and cultural diversity revolution solution influencers
spinning sector penetration
• Increased demand of knitwear from other countries
• Less productive labour force compared to
• Rising power of the middle-class population Bangladesh and Vietnam
• Increasing urbanisation • Ever-increasing competition
• Increasing penetration of internet and smartphones • Larger credit periods
(e-commerce)

Strategic priorities
Opportunities Threats
FINANCIAL PERFORMANCE
BASIS OF PREPARATION
• Increasing population of the country • Muted consumer sentiment post Covid-19
The Company had prepared its financial statements based on Indian Accounting Standard (Ind AS).The financial statements were
• Initiation of the ‘Atmanirbhar Bharat’ by the • Significant decline in exports
prepared under the historical cost convention on an accrual basis. Figures of the previous years were reclassified/regrouped to
Government
• Increasing seasons shortening fashion cycles confirm the presentation requirements under Ind AS and the requirements laid down under Schedule III of the Companies Act, 2013.
• Increasing demand for hygiene textiles since the
• Increasing competition from other apparel
84 advent of Covid-19 85
hubs like Vietnam and Bangladesh ANALYSIS OF STATEMENT OF PROFIT AND LOSS ANALYSIS OF BALANCE SHEET
• Increasing UVR (Unit Value Realisation) through the
• Increasing inventories due to Covid-19 Total income: Total income of the Company stood at ` 1036.96 Net worth: The net worth of the Company stood at ` 542.81
addition of value-added products and implementation
crore in FY2020-21, increasing by 7.22 % compared to ` 967.10 crore as on 31 March, 2021, compared to ` 464.95 crore as on
of newer technologies • Shutting down of retail outlets due to the
crore in FY2019-20. Revenues from domestic market stood at 31 March, 2020. The net worth comprised paid-up equity share
second wave of the Covid-19
• India’s potential to attract higher Foreign Direct ` 953.09 crore and ` 62.75 crore from exports. capital amounting to ` 11.34 crore as on 31 March, 2021 (5.67

ESG approach
Investment (FDI) crore equity shares of ` 2.00, each fully paid up). The Company’s
Operating profit: Operating profit or EBITDA increased by 29.53 Other Equity for the year stood at ` 531.47 crore.
• Nationwide vaccination drive will improve consumer
% during FY2020-21 to ` 141.56 crore from ` 109.29 crore in
sentiment
FY2019-20. Loan profile: The total debt of the Company stood at ` 124.02
crore, out of which the Company has ` 2.14 crore payable in the
Depreciation: Depreciation for the year under review stood current fiscal. The working capital borrowings of the Company
at ` 15.47 crore as compared to ` 14.21 crore in FY2019-20, stood at ` 116.31 crore outstanding in the cash credit accounts.
increase by ` 1.26 crore.
Total assets: Total assets of the Company increased to ` 843.31
Finance costs: Finance costs for the year under review crore in FY2020-21 compared with ` 823.82 crore in FY2019-20,

Statutory reports
remained flattish at ` 8.79 crore compared to ` 15.29 crore in an increase of 2.36 %.
INDIAN ATHLEISURE INDUSTRY
FY2019-20.
of leading a healthy lifestyle, which is projected to catalyse
The athleisure segment had been gaining significant traction Inventories: Inventories increased by 9.50% to ` 333.95 crore
the demand for athleisure products over the foreseeable
globally over the last decade. The Indian athleisure market also Other Income: Other Income for the year under review stood at during the year under review from ` 304.97 crore in FY2019-
future; the athleisure segment is projected to report a CAGR
witnessed significant increase in demand due to the acceleration ` 3.48 crore as against ` 4.71 crore in FY2019-20. 20. Inventories comprised raw materials worth ` 67.75 crore
of ~20-25% between 2020-25. (Source: Boston Consulting Group)
of the ongoing trend of wardrobe casualisation, coupled with the and finished goods and work-in-progress worth ` 266.20 crore
ever-increasing fitness consciousness among the populace. The Net profit: Net profit for the year including other comprehensive of which stock-in-transit comprised of ` 82.27 crore.
pandemic resulted in the national lockdown and a transition to income under review stood at ` 87.51 crore compared to
a work-from-home culture, which propelled the growth of the ` 58.90 crore in FY2019-20. Total loans and deposits: Total loans and deposits amounted
athleisure industry due to the changing preferences of consumers
~20-25% to ` 3.31 crore.

Financial statements
towards more comfort wear. The lockdown also resulted into
fitness becoming a mainstream trend and increasing awareness ESTIMATED CAGR OF THE Current liabilities: Current liabilities stood at ` 290.95 crore,
about wellness and healthy lifestyles. India is one of the youngest INDIAN ATHLEISURE INDUSTRY comprising short-term borrowings of ` 119.58 crore and trade
countries in the world and hence more aware about the benefits BETWEEN 2020-25 payables of ` 139.51 crore.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
KEY FINANCIAL MEASURES
Sl
Sl Particulars 31 March, 2021 31 March, 2020
Particulars 31 March, 2021 31 March, 2020 No.
No.
Efficieny Ratios
Financial Stability Ratios
(m) Receivables in days 121.62 133.55
(a) Total Debt / Equity (x) 0.22 0.44
(Average Trade Receivable / Revenue from Operations)*365
(Total Borrowing less cash and cash equivalents / Total Equity)
(n) Inventory in days 112.45 118.80

Our performance
Note :
(Average Inventory / Revenue from Operations)*365
Total Borrowing includes current maturities of Long Term Debt
(o) Payables in days 55.52 59.58
Total Equity = Equity share capital + other Equity
[Average Trade Payable / (Cost of materials consumed +/- changes in inventories of finished goods
(b) Current Ratio (x) 2.48 2.05 + other expenses)]*365
(Total Current Assets / Total Current Liabilities) (p) Working Capital cycle in days 178.55 192.77
(c) Quick Ratio (x) 1.16 1.05 (Receivables in days + Inventory in days - Payables in days)
[Trade receivales + Cash and cash equivalents + Bank balances
(other than above) + Loans] / Total Current Liabilities Growth Ratios (Y-o-Y)
(d) Interest Ratio (x) 16.11 7.15

Strategic priorities
(q) Net revenue growth (%) 7.22 (5.99)
(Earning before Interest, Depreciation and Tax (EBIDTA) / Finance Cost) [(Net Increase / (decrease) in Revenue from Operations for Current year and Previous year) /
EBIDTA = Profit before Tax + Depreciation & Amortization + Finance Cost Revenue from operations for Previous year]
Finance Cost = Interest on borrowing from banks and others (r) Net sales growth (%) 7.15 (5.54)
[(Net Increase / (decrease) in Sales of products for Current year and Previous year) / Sales of
products for Previous year]
Performance Ratios
(s) EBIDTA growth (%) 29.53 (20.73)
(e) Return on Assets (%) 10.47 7.28
[(Net Increase / (decrease) in Earning before Interest, Depreciation and Tax (EBIDTA) for Current
(Profit after Tax / Average Total Asset) year and Previous year) / Earning before Interest, Depreciation and Tax (EBIDTA) for Previous year]
86 87
(f) RoCE (%) 22.83 20.03 EBIDTA = Profit before Tax + Depreciation & Amortization + Finance Cost
[EBIT / (Total Assets -Current Liabilities)] (t) PBT growth(%) 47.02 (28.14)
(EBIT : Profit before Tax + Finance costs [(Net Increase / (decrease) in Earning before Tax for Current year and Previous year) / Earning
(g) Asset Turnover (%) 124.40 118.39 before Tax for Previous year]

ESG approach
(Revenue from Operations / Average Total Assets) (u) PAT growth (%) 46.80 (21.00)
(h) Working Capital/ Sales (x) 0.38 0.35 [(Net Increase / (decrease) in Earning after Tax for Current year and Previous year) / Earning after
Tax for Previous year]
Working Capital = Total Current Assets - Total Current Liabilities - Balances with Government and
Statutory Authorities
Sales = Revenue from Operations
(i) Retun on Equity (%) 16.08 12.79
(Profit after Tax / Total Equity)
Total Equity = Equity share capital + other Equity

Statutory reports
Profitibility Ratios
(j) EBITDA(%) 13.65 11.30
[Earning before Interest, Depreciation and Tax (EBIDTA) / (Revenue from Operations)]
EBIDTA = Profit before Tax + Depreciation & Amortization + Finance Cost
(k) PBT (%) 11.31 8.25
(Earning before Tax) / Revenue from Operations)
(l) PAT (%) 8.42 6.15

Financial statements
(Earning after Tax) / Revenue from Operations)

Annual Report 2020-21

 Dollar Industries Limited

Who we are
HUMAN RESOURCES
RISK MANAGEMENT INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY
The Human Resource function is one of the most important
We continuously endeavour to leverage the available resources at our disposal for turning opportunities into reality. During the year The Company has effective and adequate internal audit
function in our Company. We place great emphasis on
under review, the Board of Directors, Management and employees continued their focus on these objectives through the adoption and control systems, commensurate with the business
skill-development, diversity and inclusion and employee
and monitoring of prudent business plans and monitoring of major risks of the business. size to safeguard assets and protect against loss from any

Our performance
engagement. We invested extensively on our skill development
un-authorised use or disposition. Regular internal audit
initiatives and safety measures during the year under review.
visits to the operations are undertaken to ensure that high
We also ramped up our employee engagement initiatives to
standards of internal controls are maintained at each level
keep our employees motivated during this period of human
of the organisation. The Company’s internal controls are
tragedy. As on 31 March, 2021, we had a total employee base
Demand risk Procurement risk supplemented by an extensive programme of internal audits,
of 1,515 employees. The male workforce was 1,245, women
reviewed by management and documented policies, guidelines
workforce 270 and no differently-abled employees
The pandemic-induced lockdown resulted in muted The pandemic caused disruptions across the value and procedures.
consumer sentiments, which could result in declining sales chain, which could affect the raw material availability Read more on Page 34

We have a diversified portfolio of products and are present We are engaged with numerous suppliers and have

Strategic priorities
across the value chain. The lockdown resulted in the built formidable relationships with them over the
shift towards a work-from-home environment; after the years. We have stringent quality measures in place and
subdued demand in the initial stages, there was a pickup continuously monitor the quality of raw materials
in demand for casual wear and active wear. CORPORATE SOCIAL RESPONSIBILITY CAUTIONARY STATEMENT
Since our inception, we have always focused on the contributing Certain statements in this report describing the Company’s
towards the development of marginalised communities and objectives, projections, estimates, expectations or predictions
society in line with our vision by delivering economic, social may be forward-looking statements within the meaning of
and environmental benefits across all our stakeholders. We applicable securities, laws and regulations. Although the
Competition risk Technology risk invested ` 1.92 crore towards our CSR activities predominantly expectations are based on reasonable assumptions, the
88 89
focusing in the areas of education, healthcare and women actual results could materially differ from those expressed
Increasing number of industry players could have an Inability to keep up with the latest technological empowerment, among others. or implied.
adverse impact on the market position and revenue trends could affect the operational efficiency and pose
Read more on Page 36
security threats
We are a reputable innerwear manufacturer. Through

ESG approach
the consistent delivery of superior quality products and We are continuously monitoring the global industry
services over the years, we have consolidated our market trends and accordingly invest in cutting-edge
presence and will retain our position as the prominent technologies to enhance operational efficiencies and
player, irrespective of the new entrants. security and ensure that our practices are at par with
global benchmarks.

Geography risk Employee risk

Statutory reports
Increasing dependence on any particular region could Inability to look after the safety and well-being of
affect the revenue in case of economic disruptions in that employees and their professional goals, could lead to
region a decline in retention rate

We were well aware of this reality and have strategically We are a people-centric organisation and the safety
widened our footprint over the years. We have an and well-being of our employees is our biggest priority,
established presence across all states in the country, specially in this period of human tragedy. We undertook
along with an export presence in UAE, Oman, Qatar, several initiatives in our manufacturing facilities to curb
Kuwait, Bahrain, Yemen, Iraq, Nepal, Nigeria, Myanmar, the spread of the virus. Besides this, we also have a
Algeria, Kenya and Ukraine. well-structured remuneration framework to retain our

Financial statements
people.
Effect Mitigation

Annual Report 2020-21

 Dollar Industries Limited

Who we are
ANNEXURE-‘G’ TO THE DIRECTORS’ REPORT During the period under review, the Company has complied None of the Directors in any meeting dissented on any resolution
with the provisions of the Act, Rules, Regulations, Guidelines, and hence there was no instance of recording any dissenting
SECRETARIAL AUDIT REPORT Standards, etc. mentioned above. member’s view in the minutes.
[Pursuant to section 204(1) of the Companies Act, 2013 and rule No. 9 of the Companies
I further report that I further report that subject to our observation there are
(Appointment and Remuneration Personnel) Rules, 2014]
adequate systems and processes in the Company commensurate
The Board of Directors of the Company is duly constituted with with the size and operations of the Company to monitor and
FOR THE FINANCIAL YEAR ENDED ON 31 MARCH, 2021
proper balance of Executive Directors, Non-Executive Directors ensure compliance with applicable laws, rules, regulations and

Our performance
and Independent Directors. The changes in the composition of guidelines except certain delays in compliance in other applicable
To, (a) The Securities and Exchange Board of India the Board of Directors that took place during the period under laws to the Company.
The Members, (Substantial Acquisition of Shares and Takeovers) review were carried out in compliance with the provisions of
Dollar Industries Limited Regulations, 2011; the Act. I further report that during the audit period, the Company has no
‘Om Tower’, 15th Floor, reportable specific events, actions having a major bearing on the
32, J. L. Nehru Road, (b) The Securities and Exchange Board of India (Prohibition Adequate notice is given to all the Directors to schedule the Board Company’s affairs in pursuance of the laws, rules, regulations,
Kolkata-700 071 of Insider Trading) Regulations, 2015; Meetings, agenda and detailed notes on agenda were sent at guidelines, standards, etc. referred to above.
least seven days in advance, and a system exists for seeking and
I have conducted the secretarial audit of the compliance of (c) The Securities and Exchange Board of India (Issue of obtaining further information and clarifications on the agenda
applicable statutory provisions and the adherence to good Capital and Disclosure Requirements) Regulations, items before the meeting and for meaningful participation at

Strategic priorities
corporate practices by Dollar Industries Limited (hereinafter 2009; the meeting.
called ‘the Company’) bearing CIN: L17299WB1993PLC058969.
Secretarial Audit was conducted in a manner that provided me a (d) The Securities and Exchange Board of India (Employee
reasonable basis for evaluating the corporate conducts/ statutory Stock Option Scheme and Employee Stock Purchase Santosh Kumar Tibrewalla
compliances and expressing my opinion thereon. Scheme) Guidelines, 1999; Practicing Company Secretary
Membership No. 3811
Based on my verification of the Dollar Industries Limited books, (e) The Securities and Exchange Board of India (Issue and Date: 29 May, 2021 Certificate of Practice No. 3982
papers, minute books, forms and returns filed and other records Listing of Debt Securities) Regulations, 2008; Place: Kolkata UDIN: F003811C000390109
maintained by the Company and also the information provided by
90 91
the Company, its officers, agents and authorised representatives (f) The Securities and Exchange Board of India (Registrars
during the conduct of secretarial audit, I hereby report that in my to an Issue and Share Transfer Agents) Regulations,
opinion, the Company has, during the audit period covering the 1993 regarding the Companies Act and dealing
financial year ended on 31 March, 2021, has complied with the with client;
statutory provisions listed hereunder and also that the Company

ESG approach
has proper Board-processes and compliance-mechanism in (g) The Securities and Exchange Board of India (Delisting
place to the extent, in the manner and subject to the reporting of Equity Shares) Regulations, 2009;
made hereinafter:
(h) The Securities and Exchange Board of India (Buyback
I have examined the books, papers, minute books, forms and of Securities) Regulations, 1998; and
returns filed and other records maintained by Dollar Industries
Limited (‘the Company’) for the financial year ended on 31 March, (i) The Securities and Exchange Board of India
2021, to the extent Acts / provisions of the Acts applicable, (Listing Obligations and Disclosure Requirements)
according to the provisions of: Regulations, 2015.

i. The Companies Act, 2013 (the Act) and the rules vi. I further report that, having regards to compliance system

Statutory reports
made thereunder; prevailing in the Company and on examination of the relevant
documents and records in pursuance thereof, on test check
ii. The Securities Contracts (Regulation) Act, 1956 (‘SCRA’) basis and on representation made by the Company and
and the rules made thereunder; its officers for compliances under other applicable Acts,
laws and Regulations to the Company, the Company has
iii. The Depositories Act, 1996 and the Regulations and Bye- complied with the laws applicable to the Company.
laws framed thereunder;
I have also examined compliance with the applicable clauses of
iv. Foreign Exchange Management Act, 1999 and the rules the following:

Financial statements
and regulations made thereunder to the extent of Foreign
Direct Investment, Overseas Direct Investment and External (i) Secretarial Standards issued by The Institute of Company
Commercial Borrowings; Secretaries of India.

v. The following Regulations and Guidelines prescribed under (ii) The Listing Agreement entered into by the Company with
the Securities and Exchange Board of India Act, 1992 (‘SEBI the National Stock Exchange Ltd and The Bombay Stock
Act’), to the extent applicable: Exchange Ltd.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
ANNEXURE-‘H’ TO THE DIRECTORS’ REPORT (b) Details of CSR amount spent against ongoing projects for the financial year: NIL

ANNUAL RETURN ON CSR ACTIVITIES (c) Details of CSR amount spent against other than ongoing projects for the financial year:

(1) (2) (3) (4) (5) (6) (7) (8)

Local Location of the Mode of Mode of implementation-
Item from the list of project Amount spent
Sl. area Implementation- Through implementing agency
1. BRIEF OUTLINE ON CSR POLICY OF THE COMPANY: No.
Name of the Project activities in schedule VII
(Yes/
for the project
Direct CSR registration

Our performance
to the Act. State District (` in Lacs) Name
No) (Yes/No) number
The CSR Policy of the Company primarily focuses on following areas:-
1. Education Promoting Education No Chattisgarh, Raigarh 8.00 No Dollar Foundation,
1. Health care including preventive health care; West Bengal, Kolkata 27.00 CSR00003029

2. Sanitising of Public places; West Bengal, 10.00

Midnapore
3. Promoting education, infrastructural support to schools, providing scholarships; Uttar Pradesh, 1.00
Varanasi
4. Ensuring environmental sustainability;
Gujarat, Ahmedabad 5.00
5. Rural development projects; Haryana, Jind 1.00
West Bengal, Kolkata 0.90
6. Contribution towards recognised Trusts;

Strategic priorities
2. Providing Eradicating hunger, No West Bengal, Kolkata 7.95 No Dollar Foundation,
7. Any other activities as per decision of the CSR Committee essentials for poverty and CSR00003029
covid-19 pandemic malnutrition
3. Providing clean Making available safe No West Bengal, Kolkata 2.00 No Dollar Foundation,
2. COMPOSITION OF CSR COMMITTEE: drinking water drinking Water CSR00003029
Sl. Number of meetings of CSR Number of meetings of CSR 4 Healthcare Promoting healthcare No West Bengal, Kolkata 17.27 No Dollar Foundation,
Name of Director Designation / Nature of Directorship including preventive CSR00003029
No. Committee held during the year Committee attended during the year
1. Vinod Kumar Gupta Chairman – Managing Director 2 2 health care
2. Krishna Kumar Gupta Member – Whole time Director 2 2 5 Contribution made Providing facilities No Gujarat, Sabarkantha 5.00 No Dollar Foundation,
to old age home for senior citizens CSR00003029
92 3. Binay Kumar Agarwal Member – Independent Director 2 2 and measures for 93
reducing inequalities
3.  rovide the web-link where Composition of CSR committee, CSR Policy and CSR projects approved by the Board are disclosed
P faced by socially and
on the website of the Company: https://www.dollarglobal.in/assets/upload/corporate-policy/98296232c46f7b3d53a11d9a economically backward
b3cd3662.pdf groups;
6 Contribution made Animal Welfare No West Bengal, Howrah 1.00 No Dollar Foundation,

ESG approach
4.  rovide the details of Impact assessment of CSR projects carried out in pursuance of sub rule (3) of rule 8 of the Companies
P to goshala for West Bengal, Kolkata 24.00 CSR00003029
protection and Chattisgarh, Sarguja 2.50
(Corporate Social responsibility Policy) Rules, 2014: Not Applicable
welfare of cows
7 Setting up Water Making available safe No West Bengal, Kolkata 33.31 No Dollar Foundation,
5.  etails of the amount available for set off in pursuance of sub-rule (3) of rule 7 of the Companies (Corporate Social responsibility
D Huts drinking Water CSR00003029
West Bengal, South 2.01
Policy) Rules, 2014 and amount required for set off for the financial year: Not Applicable 24 Parganas
6. Average net profit of the Company as per section 135(5): ` 9,553.24 Lacs. Orrisa, Bhabaneswar 2.51
Orrisa, Cuttack 2.21
7. i. Two percent of average net profit of the Company as per section 135(5): `191.06 Lacs Orrisa, Puri 12.69
Delhi 26.65
ii. Surplus arising out of the CSR projects or programmes or activities of the previous financial years: Not Applicable

Statutory reports
TOTAL 192.00
iii. Amount required to be set off for the financial year, if any: Not Applicable
iv. Total CSR obligation for the financial year (7a+7b-7c): `191.06 Lacs

8. (a) CSR amount spent or unspent for the financial year:

An amount of ` 192.00 Lacs was spent for the Financial Year 2020-21

Financial statements
Annual Report 2020-21
 Dollar Industries Limited

Who we are
(d) Amount spent in Administrative Overheads: No such amount was spent in administrative overheads ANNEXURE-‘I’ TO THE DIRECTORS’ REPORT

(e) Amount spent on Impact Assessment: Not Applicable

DETAILS PERTAINING TO REMUNERATION AS REQUIRED UNDER SECTION 197(12) OF
THE COMPANIES ACT, 2013 READ WITH RULE 5(1) OF THE COMPANIES (APPOINTMENT
(f) Total amount spent for the Financial Year (8b+8c+8d+8e): ` 192.00 Lacs
AND REMUNERATION OF MANAGERIAL PERSONNEL) RULES, 2014)
(g) Excess amount for set off, if any

Our performance
Sl. The percentage increase in remuneration of each Director, Chief Financial Officer and Company Secretary during the financial year
Particular Amount (` in Lacs)
No. 2020-21 and the ratio of the remuneration of each Director to the median remuneration of the employees of the Company for the
(i) Two percent of average net profit of the Company as per section 135(5) 191.06 financial year 2020-21 are as under:
(ii) Total amount spent for the Financial Year 192.00
Remuneration of Director
(iii) Excess amount spent for the financial year [(ii)-(i)] 0.94 % increase in Ratio of remuneration of
Sl. / KMP for financial year
(iv) Surplus arising out of the CSR projects or programmes or activities of the previous financial years, if any - Name of Director/ KMP and Designation Remuneration in the each Director/ to median
No. 2020-21
financial year 2020-21 remuneration of employees
(v) Amount available for set off in succeeding financial years [(iii)-(iv)] 0.94 (` in Lacs)
1 Mr. Vinod Kumar Gupta, Managing Director 108.90 (4.49) 54:1
9. (a) Details of Unspent CSR amount for the preceding three financial years: NIL 2 Mr. Binay Kumar Gupta, Managing Director 105.90 (4.59) 53:1
3 Mr. Bajrang Kumar Gupta, Whole-time Director 77.40 (4.44) 39:1
(b) Details of CSR amount spent in the financial year for ongoing projects of the preceding financial year(s): NIL

Strategic priorities
4 Mr. Krishan Kumar Gupta, Whole-time Director 83.40 (2.46) 41:1
5 Mr. Gopalakrishnan Sarankapani, Director- 15.13 (16.00) 8:1
10. In case of creation or acquisition of capital asset, furnish the details relating to the asset so created or acquired through CSR Administrative
spent in the financial year (asset-wise details): Not Applicable
7. Mr. Ankit Gupta 22.80 146.00 11:1
11. Specify the reason(s), if the Company has failed to spend two per cent of the average net profit as per section 135(5): 8. Mr. Abhishek Mishra 7.11 (7.90) 4:1
Not Applicable
Note:
By Order of the Board of Directors i) No other Director other than the Managing Director and Whole-time Director received any remuneration during the financial
For Dollar Industries Limited year 2020-21.
94 95
ii) The median remuneration of employees of the Company during the financial year was `2.01 Lacs;

Vinod Kumar Gupta Krishan Kumar Gupta iii) In the financial year, there was an increase of 10.44% in the median remuneration of employees;
Date: 29 May, 2021 (Chairman, CSR Committee) (Member, CSR Committee) iv) There were 1515 permanent employees on the rolls of Company as on 31 March, 2021;
Place: Kolkata (DIN: 00877949) (DIN: 01982914)

ESG approach
v) Average percentage increase made in the salaries of the employees other than the managerial personnel in the financial year
2020-21 was 9% whereas the increase in the managerial remuneration for the same financial year was NIL.
vi) It is hereby affirmed that the remuneration paid during the year ended 31 March, 2021 is as per the Remuneration Policy of
the Company.
vii) The Executive Directors and KMPs have waived some portion of their remuneration in view of Covid-19 pandemic.

Statutory reports
Financial statements
Annual Report 2020-21
 Dollar Industries Limited

Who we are
ANNEXURE-‘J’ TO THE DIRECTORS’ REPORT

ager of the Company

any Director or Man

There is no employee in employment throughout the financial year or part thereof, was in receipt of remuneration in that year which, in the aggregate, or as the case
Whether relative of

may be, at a rate which, in the aggregate, is in excess of that drawn by the Managing Director or Whole-time Director or Manager and holds by himself or along with
Gupta, Managing
Mr. Vinod Kumar
and if so, name of
BUSINESS RESPONSIBILITY REPORT
such Director or
STATEMENT PURSUANT TO RULE 5(2) & 5(3) OF THE COMPANIES (APPOINTMENT AND REMUNERATION OF MANAGERIAL PERSONNEL) RULES,

Yes, son of
[Regulation 34(2)(f) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015]

Director.
Manager

B. List of employees drawing a remuneration not less than Rs. 102.00 Lakh per annum or Rs. 8.50 Lakh per month, if employed for part of the year :
No

No

No
No

No

No
No

No

No
The Company believes in accelerating India’s transition to a knowledge economy and continues its efforts to create value for India

Our performance
by elevating the quality of life across the entire socio-economic spectrum. It continues to communicate the Company’s obligations
% of equity

held in the
Company

and performance to all its stakeholders through its Business Responsibility Report (BRR)in conformity to the requirement of the
shares

0.70

N.A.
N.A.

N.A.
N.A.

N.A.

N.A.
N.A.

Super Knit Industries N.A.

N.A.
Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR). The main
features of BRR of the Company are as follows:
Last employment held

Dixcy Textile Pvt.Ltd.

Dixcy Textile Pvt.Ltd

Dixcy Textile Pvt.Ltd

J.G.Hosiery Pvt.Ltd.
J.G.Hosiery Pvt.Ltd.
Visa Suncoke Ltd.

Beverage Pvt.Ltd.
before joining the

Modern Retails.

SECTION A: GENERAL INFORMATION ABOUT THE COMPANY

Storia Food
Company

1. Corporate Identity Number (CIN) of the Company L17299WB1993PLC058969

None

2. Name of the Company Dollar Industries Limited

Strategic priorities
3. Registered address ‘Om Tower’, 15th Floor, 32, J.L. Nehru Road, Kolkata– 700 071
Age

53
48

52
29

45

48
38

45

37
47

4. Website www.dollarglobal.in
5. E-mail id [email protected]
commencement
of employment

04.08.2020

14.04.2020
02.12.2020

01.04.2020
06.06.2019
16.01.2020
19.05.2016

12.11.2019
02.11.2016

08.07.2019
6. Financial Year reported 2020-21

his spouse and dependent children, not less than two per cent of the equity shares of the Company.
Date of

7. Sector(s) that the Company is engaged in (industrial As per classification under National Industrial Classification, Company is engaged in
activity code-wise) Manufacture of other knitted and crocheted apparel including hosiery under sub-class
14309
Qualifications

B.COM, MBA
(marketing)

96 8. List three key products/services that the Company • Vests 97

experience

19 Years
28 years
17 Years

manufactures/provides (as in balance sheet) • Briefs

PGDBM
20 yrs

B.COM
B.COM

M.S.C.
23 yrs

18 yrs

15 yrs
19 yrs

24 yrs
MBA,
MBA,

MBA,
5 yrs

• Thermals
BSC
FCA
and

No employee in the Company has drawn remuneration falling under this category.
9. Total number of locations where business activity is International Locations:
employment,

undertaken by the Company The Company does not have any International Location.
or otherwise

Permanent

Permanent

Permanent
Permanent

Permanent

Permanent
Permanent

Permanent
Permanent

Permanent
contractual

ESG approach
Nature of
LIST OF TOP TEN EMPLOYEES IN TERMS OF REMUNERATION DRAWN :

whether

National Locations:
The Corporate Office of the Company is situated in Kolkata and the manufacturing units
are located in Tirupur and Delhi. Therefore, the Company is undertaking its business
activity from different locations of the Country. Details of plant locations are given in
Remuneration

year 2020-21

Annexure-‘B’ forming part of the Directors’ Report.

drawn during
Designation of the employee the financial

(` in Lakh)

10. Markets served by the Company – Local/State/ The Company primarily operates in India and therefore detailed analysis of geographical
12.00
12.42

22.80
22.50

10.92
16.20

National/International segment is demonstrated into Indian and overseas operation in Segment Reporting
9.45
8.02
5.70

9.14

forming part of the Notes to Standalone & Consolidated Financial Statements.

Regional Sales Manager-

Zonal Sales Manager-BB

National Sales Manager-
National Sales Manager-
Investor Relations of the

Zonal Sales Manager –

SECTION B: FINANCIAL DETAILS OF THE COMPANY

- Corporate Strategy &

Zonal Sales Manager-

Senior Vice President

Head – E-Commerce

Statutory reports
1. Paid up Capital (`) 1,134.32 Lacs
Atheleisure
NXT(North)

NXT (East)
Company

2. Total Turnover (`) 1,03,695.57 Lacs

Lakshya
Bigboss

BDM

3. 8,728.02 Lacs
CFO
NXT

Total profit after taxes (`)

* Employed for part of the year

4. Total Spending on Corporate Social Responsibility The Company has spent 2% of average net profit of the last three financial years.
Name of Employees

(CSR) as percentage of profit after tax (%) The detailed expenditure are given in the Annexure-‘H’ (Annual Return on CSR activities)
Dilip Singh Tomar
Patanjali Kumar*
Rakesh Mohanlal

Vaibhav Subhas
Shashi Agarwal

annexed to the Board’s Report, forming part of this Annual Report.

Debasish Das
Vikram Ranjit
Deshmukh*

Ankit Gupta

Aloke Dutta

5. List of activities in which expenditure in (a) Promoting Education

Financial statements
4 above has been incurred:- (b) Eradicating Hunger, Poverty & Malnutrition
Atal Rai

Surve
Modi

(c) Animal welfare

(d) Healthcare including preventive healthcare
(e) Social, Economic Development and relief & welfare
Sl No.

(f) Making available safe & clean drinking water

10
9
7

8
4

6
1

3
2014:
A.

C.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
SECTION C: OTHER DETAILS (a) Details of compliance (Reply in Y/N)
Sl. P P P P P P P P P
1. Does the Company have any Subsidiary Company/Companies? No, the Company does not has any Subsidiary Company Questions
No. 1 2 3 4 5 6 7 8 9

2. Do the Subsidiary Company/ Companies participate in the BR Not Applicable 1 Do you have a policy/ policies for.... Y Y Y Y Y Y Y Y Y
Initiatives of the parent company? If yes, then indicate the number 2 Has the policy being formulated in consultation with the relevant Y Y Y Y Y Y Y Y Y
of such subsidiary company(s) stakeholders?
3. Do any other entity/entities (e.g. suppliers, distributors etc.) that The other entity/entities (e.g. suppliers, distributors etc.) that the Company 3 Does the Company have in-house Y Y Y Y Y Y Y Y Y

Our performance
the Company does business with participate in the BR initiatives of does business with, do not participate in the BR initiatives of the Company structure to implement the policy/ policies
the Company? If yes, then indicate the percentage of such entity/ as per our knowledge. However, they are encouraged to adopt such
4 Does the Company have a grievance redressal mechanism related Y Y Y Y Y Y Y Y Y
entities? [Less than 30%, 30-60%, More than60%] practices and follow the concept of running business with responsibility.
to the policy/ policies to address stakeholders’ grievances related
to the policy/ policies?
5 Has the Company carried out independent audit/ evaluation of the Y Y Y Y Y Y Y Y Y
SECTION D: BR INFORMATION working of this policy by an internal or external agency
1. Details of Director/Directors responsible for BR 6 Does the policy conform to any National/ International standards? The policies of the Company generally conform to the principles of the
If yes, specify? National Voluntary Guidelines (NVGs) on Social, Environmental and
(a) Details of the Director/Director responsible for implementation of the BR policy/policies Economic Responsibilities of Business issued by the Ministry of Corporate
DIN: 00877949 Affairs (MCA), Government of India.
Name: Mr. Vinod Kumar Gupta
7 Has the policy being approved by the Board? Yes, the BR policy has been approved by the Board in its meeting (via

Strategic priorities
Designation: Managing Director Is yes, has it been signed by MD/ owner/ CEO/ appropriate Board circulation) held on 20 February, 2020 and it has been signed by the
Director? Managing Director of the Company.
(b) Details of the BR head 8 Does the Company have a specified Committee of the Board/ Executive Directors and Senior Officials of the Company are authorised to
Sl. Director/ Official to oversee the implementation of the policy? oversee the implementation of policies.
Particulars Details
No.
9 Indicate the link for the policy to be viewed online? The Business Responsibility Policy of the Company is available on the
1 DIN Number (if applicable) 00877949
website of the Company at https://www.dollarglobal.in/assets/upload/
2 Name Vinod Kumar Gupta corporate-policy/57798fdb1c15f5b925259d2aaf762ea1.pdf
3 Designation Managing Director
10 Has the policy been formally communicated to all relevant internal The Company has uploaded its BR policy on the website and can be
4 Telephone number 033-22884064 and external stakeholders? assessed by all the relevant internal and external stakeholders.
98 99
5 e-mail id [email protected]

(b) If answer to the question at serial number 1 against any principle, is ‘No’, please explain why:
2. Principle-wise (as per NVGs) BR Policy/ policies:
Sl. P P P P P P P P P
The Company has adopted nine principles of Business Responsibility issued by the National Voluntary Guidelines on Social, No.
Questions
1 2 3 4 5 6 7 8 9
Environment and Economic Responsibilities of Business (NVGs) released by the Ministry of Corporate Affairs, Government of

ESG approach
India and the BR policy of the Company has been formed and adopted based on the nine principles issued by NVGs given below- 1 The Company has not understood the Principles
2 The Company is not at a stage where it finds itself in a position to
Principle 1 (P1) Businesses should conduct and govern themselves with Ethics, Transparency and Accountability formulate and implement the policies on specified principles

Principle 2 (P2) Businesses should provide goods and services that are safe and contribute to sustainability throughout their life cycle 3 The Company does not have financial or manpower resources
available for the task Not Applicable
Principle 3 (P3) Businesses should promote the well being of all employees 4 It is planned to be done within next 6 Months
Principle 4 (P4) Businesses should respect the interests of, and be responsive towards all stakeholders, especially those who are 5 It is planned to be done within the next 1 year
disadvantaged, vulnerable and marginalised
6 Any other reason (please specify)
Principle 5 (P5) Businesses should respect and promote human rights

Statutory reports
Principle 6 (P6) Business should respect, protect, and make efforts to restore the environment 3. Governance related to BR
Principle 7 (P7) Businesses, when engaged in influencing public and regulatory policy, should do so in a responsible manner (a) Indicate the frequency with which the Board of Directors, Committee of the Board or CEO to assess the BR
Principle 8 (P8) Businesses should support inclusive growth and equitable development performance of the Company. Within 3 months, 3-6 months, Annually, More than 1 year:
The BR performance of the Company under various principles is assessed periodically as and when required by CEO.
Principle 9 (P9) Businesses should engage with and provide value to their customers and consumers in a responsible manner

(b) Does the Company publish a BR or a Sustainability Report? What is the hyperlink for viewing this report?
How frequently it is published?
The Company as it featured in the top 1000 list (based on market capitalisation calculated as on 31 March, 2021), in compliance
with the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulation, 2015.

Financial statements
The Company publish its Report annually and is also available on the website of the Company at https://www.dollarglobal.in/
annual-report.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
SECTION E: PRINCIPLE-WISE PERFORMANCE Principle No Question Response
Principle 3: Businesses should promote the wellbeing of all employees
Principle No Question Response
Principle 1: Businesses should conduct and govern themselves with Ethics, Transparency and Accountability 3.1 Please indicate the Total number of employees. 1,515

1.1 Does the policy relating to ethics, bribery and corruption The policy relating to ethics, bribery and corruption covers only for the 3.2 Please indicate the Total number of employees hired on NIL
cover only the Company? Yes/ No. Does it extend to the Company and its employees. The employees of the Company uphold temporary/ contractual/ casual basis.
Group/Joint Ventures/ Suppliers/Contractors/NGOs/ professionalism and competence, discipline and teamwork, trust and
3.3 Please indicate the Number of permanent women 270
Others? fairness, integrity and honesty, truthfulness and high moral standard,
employees.

Our performance
commitment both within and outside the Company in their day to day
activities. The Company is committed to acting professionally, fairly and 3.4 Please indicate the Number of permanent employees with The Company does not have any disabled employees. However, the
with integrity in all its dealings. The Company has a policy of Code of disabilities Company follows system of equal opportunity to all employees whether
Conduct for Directors/ Officers of the Company to maintain the highest disabled or not.
standards of ethics in all spheres of its business activities. The Company
has also framed a Whistle Blower Policy for employees and Directors to 3.5 Do you have an employee association that is recognised by No
report concerns that could have a large impact on the Company which management?
may lead to incorrect financial reporting, about unethical behaviour, 3.6 What percentage of your permanent employees is members Not Applicable
actual or suspected fraud or violation of the Company’s Code of of this recognised employee association?
Conduct.
This Policy is not extended to the Group/ Joint Ventures/ Suppliers/ 3.7 Please indicate the Number of complaints relating to child During the financial year 2020-21, the Company has not received any
Contractors/ NGOs/ Others. However, the Company encourages them labour, forced labour, involuntary labour, sexual harassment complaints relating to child labour, forced labour, involuntary labour,

Strategic priorities
to participate in the BR initiatives of the Company. in the last financial year and pending, as on the end of the sexual harassment.
financial year. No of complaints No of complaints
1.2 How many stakeholder complaints have been received in the No complaint was received regarding ethical and other matters No. Category filed during the pending as on end
past financial year and what percentage was satisfactorily contained in this principle. financial year of the financial year
resolved by the management? If so, provide details thereof,
1 Child labour/ forced labour/ Nil NA
in about 50 words or so.
involuntary labour
Principle 2: Businesses should provide goods and services that are safe and contribute to sustainability throughout their life cycle 2 Sexual harassment Nil NA
2.1 List up to 3 of your products or services whose design has The Company is engaged in manufacturing and sale of the hosiery 3 Discriminatory employment Nil NA
incorporated social or environmental concerns, risks and/ goods. The Company endeavours backward integration as cost cutting
3.8 What percentage of your under mentioned employees were All the employees mentioned hereunder were given safety & skill
100 or opportunities measure and has installed Spinning Mill and Wind mills for power 101
given safety & skill up-gradation training in the last year? up-gradation training-
generation. The Company is maintaining proper safety measures
(a) Permanent Employees
in manufacturing its goods and in rendering related services. The
(b) Permanent Women Employees
manufacturing unit of the Company meets applicable environmental
(c) Casual/Temporary/Contractual Employees, if any
norms without compromising social, economical and environmental
(d) Employees with Disabilities, if any appointed.
concerns.

ESG approach
Principle 4: Businesses should respect the interests of, and be responsive towards all stakeholders, especially those who are disadvantaged,
2.2 For each such product, provide the following details in The Company ensures that it keeps balance of the social, environmental
vulnerable and marginalised
respect of resource use (energy, water, raw material etc.) and economic impact of the business it conducts. The Company is fully
per unit of product(optional): utilising the power units generated in its own windmills. However, the 4.1 Has the Company mapped its internal and external Yes, the Company has mapped and identified its internal and external
Reduction during sourcing/production/ distribution manufacturing process of the products of the Company is not power stakeholders? Yes/No stakeholders.
achieved since the previous year throughout the value intensive. The Company always put its endeavours to save energy, The stakeholders of the Company includes – employees, customers,
chain? wherever possible. The Company is providing goods and services that dealers, suppliers, investors, media, government and regulators.
(b) Reduction during usage by consumers (energy, water) are safe and contribute to sustainability throughout its life cycle.
has been achieved since the previous year? 4.2 Out of the above, has the Company identified the Yes, the Company has a process to identify the disadvantaged,
disadvantaged, vulnerable & marginalised stakeholders vulnerable & marginalised stakeholders and presently no such
2.3 Does the Company have procedures in place for sustainable Yes, across the entire supply chain, the Company endeavours to stakeholders persist.
sourcing (including transportation)? integrate social, ethical and environmental factors in its operating/
If yes, what percentage of your inputs was sourced strategic decisions. The Company endeavours to reduce the distance 4.3 Are there any special initiatives taken by the Company Not Applicable

Statutory reports
sustainably? Also, provide details thereof. travelled overall by its products, thereby reducing emissions on account to engage with the disadvantaged, vulnerable and
of transportation. marginalised stakeholders. If so, provide details thereof.

2.4 Has the Company taken any steps to procure goods Yes, the Company believes its manufacturing units must benefit Principle 5: Businesses should respect and promote human rights
and services from local &small producers, including the communities where they are located. It sources most of the raw 5.1 Does the policy of the Company on human rights cover The policy on human rights covers only the Company and does not
communities surrounding their place of work? materials from nearby areas. It extensively works with its vendors to only the Company or extend to the Group/ Joint Ventures/ extend to the Group/ Joint Ventures/ Suppliers/ Contractors/ NGOs/
If yes, what steps have been taken to improve their capacity improve capacities and capabilities. Suppliers/Contractors/NGOs/Others? Others. However, the Company encourages adopting such practices
and capability of local and small vendors? The Company also obtains services from local & small service providers and following the concept of running business with responsibility and
for maintenance and repairs of building, plant and machineries. promoting human rights.
2.5 Does the Company have a mechanism to recycle products Yes. The waste generated out of operations are sold to outside market 5.2 How many stakeholder complaints have been received in No complaint was received for human rights violation during the last
and waste? If yes what is the percentage of recycling of for manufacturing of new articles. It is estimated around <5% of raw the past financial year and what percent was satisfactorily Financial Year i.e. 2020-21.

Financial statements
products and waste (separately as <5%, 5-10%, >10%). materials. resolved by the management?
Also, provide details thereof, in about 50 words or so.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Principle No Question Response Principle No Question Response
Principle 6: Business should respect, protect, and make efforts to restore the environment Principle 8: Businesses should support inclusive growth and equitable development
6.1 Does the policy related to Principle 6 cover only the The policy related to Principle 6 cover only the Company and does not 8.1 Does the Company have specified programmes/ initiatives/ Yes, the Company support inclusive growth and equitable development
Company or extends to the Group/ Joint Ventures/ extend to the Group/ Joint Ventures/ Suppliers/ Contractors/ NGOs/ projects in pursuit of the policy related to Principle 8? If yes and has undertaken various CSR initiatives. Recognising communities
Suppliers/Contractors/NGOs/others Others. However, the Company encourages them to participate and details thereof. and employees as the key success factors for business prosperity, the
follow this principle. Company remains committed to their development. The CSR initiatives
of the Company ensures its commitment to operate in an economically,
6.2 Does the Company have strategies/ initiatives to address Yes, climate change, global warming and environmental degradation socially and environmentally sustainable manner, in the best interest of

Our performance
global environmental issues such as climate change, global pose unique challenges as well as opportunities for the Company. The all the stakeholders, details of which are given in Annexure-‘H’ (Annual
warming, etc? Y/N. If yes, please give hyperlink for webpage Company has adopted sustainable practices and responsible use of Return on CSR Activities) forming part of the Directors’ Report.
etc natural resources in order to minimise the environmental impact of its
operations and is continuously implementing process improvements to 8.2 Are the programmes/ projects undertaken through in- The Company undertakes programmes / projects directly through in-
reduce emissions and wastes. house team/own foundation/ external NGO/ government house team and through Dollar Foundation (in house trust) with the
structures/ any other organisation? assistance of implementation partners, wherever required.
6.3 Does the Company identify and assess potential Yes, the Company has identified potential environmental and social
environmental risks? Y/N risks in its manufacturing units across India through monitoring system. 8.3 Have you done any impact assessment of your initiative? Yes, the Company assesses the impact of the CSR Projects and
Required necessary steps and safeguarding measures have been taken Programs undertaken at its Board and CSR Committee meetings. An
by the Company to reduce its impact on the environment. update on the CSR project and programs is placed at the Board and
CSR Committee meetings for their review and assessment.
6.4 Does the Company have any project related to Clean No, the Company does not have any project related to Clean
Development Mechanism? If so, provide details thereof. Development Mechanism. 8.4 What is your Company’s direct contribution to community The Company has spent ` 192.00 Lacs as part of its CSR initiatives.

Strategic priorities
Also, if Yes, whether any environmental compliance report development projects- Amount in INR and the details of the Details of the projects are provided in Annexure-‘H’ (Annual Return on
is filed? projects undertaken CSR Activities) forming part of the Board’s Report.
6.5 Has the Company undertaken any other initiatives on – The Company strives to adopt process improvement measures and 8.5 Have you taken steps to ensure that this community Yes, the Company actively encourages participation of stakeholders
clean technology, energy efficiency, renewable energy, etc? invest in efficient technologies to reduce its impact on the environment. development initiative is successfully adopted by the in various programs. This includes both volunteering and proactive
Y/N If yes, please give hyperlink for web page etc. The details of initiatives taken for conservation of energy are given in community? participation.
Annexure-‘A’ to the Directors’ Report
Principle 9: Businesses should engage with and provide value to their customers and consumers in a responsible manner
6.6 Are the Emissions/ Waste generated by the Company within Yes, the emissions, solid waste and effluent generated by the Company
the permissible limits given by CPCB/ SPCB for the financial during the financial year were within the limits as prescribed by CPCB 9.1 What percentage of customer complaints/consumer cases The Company provides adequate grievance handling mechanisms
year being reported? or SPCB. are pending as on the end of financial year. to address customer concerns and feedback. There neither received
102 any customer/consumer complaint nor pending as at the end of the 103
6.7 Number of show cause/ legal notices received from CPCB/ No show cause/ legal notices have been received from CPCB/SPCB Financial Year.
SPCB which is pending (i.e. not resolved to satisfaction) as during the Financial Year 2020-21.
on the end of Financial Year. 9.2 Does the Company display product information on the The Company in all its products sticks labels which displays all the
product label, over and above what is mandated as per local information that is required as per Legal Metrology Act, local laws and
Principle 7: Businesses, when engaged in influencing public and regulatory policy, should do so in a responsible manner laws? Yes/No/N.A. /Remarks any other applicable laws.

ESG approach
7.1 Is your Company a member of any trade and chamber or Yes, the Company is the Member of various trade and industrial 9.3 Is there any case filed by any stakeholder against the No, the Company did not received any complaint from any of the
association? If Yes, Name only those major ones that your associations like- Company regarding unfair trade practices, irresponsible stakeholders against the Company regarding unfair trade practices,
business deals with: (a) West Bengal Hosiery Association advertising and/or anti-competitive behaviour during the irresponsible advertising and/or anti-competitive behaviour during the
(b) Bharat Chamber of Commerce last five years and pending as on the end of financial year. last five years and as on date there are no pending cases against the
(c) Federation of Indian Export Organisation Company.
(d) Apparel Export Promotion Council
(e) Confederation of Indian Industries 9.4 Did your Company carry out any consumer survey/ Yes, the primary objective of the Company is customer satisfaction and
(f) South India Hosiery Association consumer satisfaction trends? it carries out consumer surveys to understand consumer feedback,
product satisfaction and preference while measuring consumer
7.2 Have you advocated/lobbied through above associations for No response and satisfaction regularly through the Company’s continuous
the advancement or improvement of public good? Yes/No; and periodic tracking studies and a random sampling approach among
if yes specify the broad areas ( drop box: Governance and target consumers.
Administration, Economic Reforms, Inclusive Development

Statutory reports
Policies, Energy security, Water, Food Security, Sustainable
Business Principles, Others)

Financial statements
Annual Report 2020-21
 Dollar Industries Limited

Who we are
ANNEXURE-‘K’ TO THE DIRECTORS’ REPORT No. of Shares held at the beginning of the year No. of Shares held at the end of the year % Change
Category of Shareholders % of Total % of Total during the

MGT-9
Demat Physical Total Demat Physical Total year
Shares Shares
2 Foreign
EXTRACT OF ANNUAL RETURN a) NRIs - Individuals - - - - - - - - -
as on the financial year ended on 31 March, 2021 b) Other - Individuals - - - - - - - - -
[Pursuant to Section 92(3) of the Companies Act, 2013 and rule 12(1) of the Companies c) Bodies Corporate - - - - - - - - -
(Management and Administration) Rules, 2014] d) Banks / Financial - - - - - - - - -

Our performance
Institutions
e) Any Other - - - - - - - - -
I. REGISTRATION AND OTHER DETAILS
Sub-total (A)(2) - - - - - - - - -
i. CIN L17299WB1993PLC058969 Total Shareholding of 40950186 - 40950186 72.20 41354464 - 41354464 (72.91) 0.71
ii Registration Date 26.05.1993 Promoter (A) = (A)(1)+(A)(2)
iii Name of the Company Dollar Industries Limited B. PUBLIC SHAREHOLDING
iv Category / Sub-Category of the Company Public Company limited by Shares 1 Institutions
v Address of the Registered office of the Company ‘Om Tower’, 15th Floor, 32, J.L. Nehru Road, a) Mutual Funds 3917336 - 3917336 6.90 2108794 - 2108794 3.72 (3.18)
and contact details Kolkata-700 071. b) Banks / Financial 3741 - 3741 0.01 - - - 0.00 (0.01)
E-mail ID: [email protected] Institutions
Phone No.033-22884064-66.

Strategic priorities
c) Central Governments - - - - - - - - -
vi Whether listed Company - Yes/No Yes d) State Governments - - - - - - - - -
vii Name, Address and Contact details of Registrar and Niche Technologies Pvt. Ltd. e) Venture Capital Funds - - - - - - - - -
transfer Agent, if any Add: 3A, Auckland Place, 7th Floor,
f) Insurance Companies - - - - - - - - -
Room No 7A & 7B, Kolkata-700 017
Phone Nos. 033-22806616/6617/6618. g) Foreign Institutional - - - - - - - - -
Fax: 033-22806619 Investors (FII)
e.mail: [email protected] h) Foreign Venture Capital - - - - - - - - -
website: www.nichetechpl.com Funds
Others (Specify) 172075 - 172075 0.30 - - - - (0.30)
104 FPI - Corporate Cat-II 105
II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY. Alternate Investment Funds 17600 - 17600 0.03 17600 - 17600 0.03 -
Sub-total (B)(1) 4110752 - 4110752 7.24 2126394 - 2126394 3.75 (3.49)
All the business activities contributing 10% or more of the total turnover of the Company shall be stated:-
2 Non-Institutions
Sl. a) Bodies Corporate
Name and Description of main products/services NIC Code of the Product/service % to total turnover of the Company
No.

ESG approach
i) Indian 4813960 - 4813960 8.48 5285463 - 5285463 9.31 0.83
1 Manufacture of other knitted and crochted apparel 14309 100% ii) Overseas - - - - - - - - -
including hosiery b) Individuals
i) Individual 4632576 59259 4691835 8.27 4878692 58909 4937601 8.70 0.43
shareholders holding
III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES nominal share
capital upto ` 1 Lac
Sl. ii) Individual 1742737 - 1742737 3.07 2593187 - 2593187 4.57 1.50
Name and Address Of the Company CIN/GLN Holding/ Subsidiary/ Associate % of shares held Applicable Section
No. shareholders holding
1. M/s Pepe Jeans Innerfashion U18209WB2017PTC223633 Associate Company 50 2(6) nominal share
Private Limited (Joint Venture) capital in excess of
`1 Lac

Statutory reports
IV. SHARE HOLDING PATTERN (EQUITY SHARE CAPITAL BREAKUP AS PERCENTAGE OF TOTAL EQUITY) c) Others Specify
1. NRI 130679 - 130679 0.23 349872 - 349872 0.61 0.38
i) Category-wise Share Holding 2. Overseas Corporate - - - - - - - - -
No. of Shares held at the beginning of the year No. of Shares held at the end of the year
Bodies
% Change
Category of Shareholders % of Total % of Total during the 3. Foreign Nationals - - - - - - - - -
Demat Physical Total Demat Physical Total year 4. Clearing Members 275971 - 275971 0.48 62681 - 62681 0.11 (0.37)
Shares Shares
A. PROMOTERS 5. Trusts - - - - 6458 - 6458 0.01 0.01
1 Indian 6. Foreign Bodies - D.R.
a) Individual / HUF 8033170 - 8033170 14.16 7833170 - 7833170 13.81 (0.35) Sub-total (B)(2) 11595923 59259 11655182 20.55 13176353 58909 13235262 23.33 2.78

Financial statements
b) Central Government - - - - - - - - - Total Public Shareholding 15706675 59259 15765934 27.80 15302747 58909 15361656 27.09 (0.71)
c) State Government - - - - - - - - - (B) = (B)(1)+(B)(2)
d) Bodies Corporate 32917016 - 32917016 58.04 33521294 - 33521294 59.10 1.06 C. SHARES HELD BY - - - - - - - - -
CUSTODIAN FOR GDRS &
e) Banks / Financial - - - - - - - - -
ADRS
Institutions
GRAND TOTAL (A+B+C) 56656861 59259 56716120 100 56657211 58909 56716120 100 -
f) Any Other - - - - - - - - -
Sub-total (A)(1) 40950186 - 40950186 72.20 41354464 - 41354464 72.91 0.71

Annual Report 2020-21

 Dollar Industries Limited

Who we are
i) Shareholding of Promoters Shareholding at the Cumulative Shareholding
Sl. beginning of the year during the year
Name
Shareholding at the beginning of the No. % of total shares % of total shares
Shareholding at the end of the year No. of shares No. of shares
year % of of the Company of the Company

Sl. % of Shares % of Shares change in 5 BAJRANG KUMAR GUPTA

Shareholder's Name % of total % of total shareholding
No. Pledged/ Pledged/ a) At the Beginning of the Year 1661450 2.93
No. of shares No. of shares during the
encumbered encumbered
Shares of the Shares of the year b) Changes during the year
to total to total
Company Company
shares shares Date Reason

Our performance
1 Anita Gupta - - - 350000 0.62 - 0.62 28/08/2020 Transfer (1125000) (1.98) 536450 0.95
2 Ankit Gupta - - - 400000 0.70 - 0.70 c) At the End of the Year 536450 0.95
3 Aayush Gupta - - - 400000 0.70 - 0.70 6 BINAY KUMAR GUPTA
4 Anant Gupta - - - 530000 0.93 - 0.93 a) At the Beginning of the Year 1570170 2.77
5 Bajrang Kumar Gupta 1661450 2.93 - 536450 0.95 - (1.98) b) Changes during the year
6 Binay Kumar Gupta 1570170 2.77 - 570170 1.01 - (1.76) Date Reason
7 Chandrakala Gupta 358070 0.63 - 358070 0.63 - - 28/08/2020 Transfer (1000000) (1.763) 570170 1.01
8 Dindayal Gupta (Karta of HUF) 908040 1.60 - 908040 1.60 - - c) At the End of the Year 570170 1.01
9 Dindayal Gupta 381600 0.67 - 381600 0.67 - - 7 CHANDRAKALA GUPTA
10 Gaurav Gupta - - - 530000 0.93 - 0.93 a) At the Beginning of the Year 358070 0.63

Strategic priorities
11 Krishan Kumar Gupta 1616500 2.85 - 736500 1.30 - (1.55) b) Changes during the year [NO CHANGES DURING THE YEAR]
12 Nitu Gupta - - - 860000 1.52 - 1.52 c) At the End of the Year 358070 0.63
13 Ruchi Gupta - - - 530000 0.93 - 0.93 8 DINDAYAL GUPTA
14 Seema Gupta 1750 0.00 - 496750 0.88 - 0.88 a) At the Beginning of the Year 381600 0.67
15 Dollar Holdings Private Limited 25641256 45.21 - 26245534 46.28 - 1.07 b) Changes during the year [NO CHANGES DURING THE YEAR]
(Formerly Simplex Impex Private Limited) c) At the End of the Year 381600 0.67
16 Vinod Kumar Gupta 1535590 2.71 - 245590 0.43 - (2.28) 9 DINDAYAL GUPTA (Karta of HUF)
17 VK mercantile Private Limited 7275760 12.83 - 7275760 12.83 - - a) At the Beginning of the Year 908040 1.60
Total 40950186 72.20 - 41354464 72.92 - 0.71 b) Changes during the year [NO CHANGES DURING THE YEAR]
106 c) At the End of the Year 908040 1.60
107
ii) Change in Promoters’ Shareholding ( please specify, if there is no change) 10 GAURAV GUPTA
a) At the Beginning of the Year 0 0
Shareholding at the Cumulative Shareholding
beginning of the year during the year b) Changes during the year
Sl.
Name Date Reason
No. % of total shares % of total shares

ESG approach
No. of shares No. of shares
of the Company of the Company 28/08/2020 Transfer 530000 0.93 530000 0.93
1 AAYUSH GUPTA c) At the End of the Year 530000 0.93
a) At the Beginning of the Year 0 0.00 11 KRISHAN KUMAR GUPTA
b) Changes during the year a) At the Beginning of the Year 1616500 2.85
Date Reason b) Changes during the year
28/08/2020 Transfer 400000 0.70 400000 0.70 Date Reason
c) At the End of the Year 400000 0.70 28/08/2020 Transfer (880000) (1.55) 736500 1.30
2 ANANT GUPTA c) At the End of the Year 736500 1.30
a) At the Beginning of the Year 0 0.00 12 NITU GUPTA
b) Changes during the year a) At the Beginning of the Year 0 0.00

Statutory reports
Date Reason b) Changes during the year
28/08/2020 Transfer 530000 0.93 530000 0.93 Date Reason
c) At the End of the Year 530000 0.93 28/08/2020 Transfer 860000 1.52 860000 1.52
3 ANITA GUPTA c) At the End of the Year 860000 1.52
a) At the Beginning of the Year 0 0.00 13 RUCHI GUPTA
b) Changes during the year a) At the Beginning of the Year 0 0.00
Date Reason b) Changes during the year
28/08/2020 Transfer 350000 0.62 350000 0.62 Date Reason
c) At the End of the Year 350000 0.62 28/08/2020 Transfer 530000 0.93 530000 0.93

Financial statements
4 ANKIT GUPTA c) At the End of the Year 530000 0.93
a) At the Beginning of the Year 0 0.00 14 SEEMA GUPTA
b) Changes during the year a) At the Beginning of the Year 1750 0.00
Date Reason b) Changes during the year
28/08/2020 Transfer 400000 0.70 400000 0.70 Date Reason
c) At the End of the Year 400000 0.70 28/08/2020 Transfer 495000 0.87 496750 0.88
c) At the End of the Year 496750 0.88

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Shareholding at the Cumulative Shareholding Shareholding at the beginning of the year Cumulative Shareholding during the year
Sl. beginning of the year during the year Sl.
Name For Each of the Top 10 Shareholders % of total shares of % of total shares of
No. No. No. of shares No. of shares
% of total shares % of total shares the Company the Company
No. of shares No. of shares
of the Company of the Company
25/09/2020 Transfer (66740) 0.12 1595381 2.81
15 DOLLAR HOLDINGS PRIVATE LIMITED (FORMERLY
30/09/2020 Transfer (4247) 0.01 1591134 2.81
KNOWN AS SIMPLEX IMPEX PRIVATE LIMITED)
09/10/2020 Transfer (14960) 0.03 1576174 2.78
a) At the Beginning of the Year 25641256 45.21
16/10/2020 Transfer (32237) 0.06 1543937 2.72
b) Changes during the year
31/12/2020 Transfer (47248) 0.08 1496689 2.64

Our performance
Date Reason
08/01/2021 Transfer (76688) 0.14 1420001 2.50
28/08/2020 Transfer 50000 0.09 25691256 45.30
29/01/2021 Transfer (11207) 0.02 1408794 2.48
04/09/2020 Transfer 80000 0.14 25771256 45.40
c) At the End of the Year 1408794 2.48
30/09/2020 Transfer 101757 0.18 25873013 45.62
2 SHANTI CAPINVEST PRIVATE LIMITED
02/10/2020 Transfer 125000 0.22 25998013 45.84
a) At the Beginning of the Year 1412000 2.49
09/10/2020 Transfer 47521 0.08 26045534 45.92 b) Changes during the year
12/03/2021 Transfer 200000 0.35 26245534 46.28 Date Reason
c) At the End of the Year 26245534 46.28 15/01/2021 Transfer (59350) 0.11 1352650 2.39
16 V K MERCANTILE PRIVATE LIMITED 22/01/2021 Transfer (26500) 0.05 1326150 2.34
a) At the Beginning of the Year 7275760 12.83 29/01/2021 Transfer 3500 0.01 1329650 2.34
b) Changes during the year [NO CHANGES DURING THE YEAR]

Strategic priorities
05/02/2021 Transfer (8500) 0.02 1321150 2.33
c) At the End of the Year 7275760 12.83 12/02/2021 Transfer 300 0.00 1321450 2.33
17 VINOD KUMAR GUPTA 19/02/2021 Transfer (40000) 0.07 1281450 2.26
a) At the Beginning of the Year 1535590 2.71 26/02/2021 Transfer 4468 0.01 1285918 2.27
b) Changes during the year c) At the End of the Year 1285918 2.27
Date Reason 3 SALASARJI MERCANTILE LLP
28/08/2020 Transfer (1090000) (1.92) 445590 0.79 a) At the Beginning of the Year 1274900 2.25
12/03/2021 Transfer (200000) (0.35) 245590 0.43 b) Changes during the year [NO CHANGES DURING THE YEAR]
c) At the End of the Year 245590 0.43 c) At the End of the Year 1274900 2.25
108 TOTAL 40950186 72.20 41354464 72.92 4 IDFC STERLING VALUE FUND 109
a) At the Beginning of the Year 700000 1.23
iii) Shareholding Pattern of top ten Shareholders (other than Directors, Promoters and Holders of GDRs and ADRs): b) Changes during the year [NO CHANGES DURING THE YEAR]
c) At the End of the Year 700000 1.23
Shareholding at the beginning of the year Cumulative Shareholding during the year 5 JATINDER AGARWAL
Sl.

ESG approach
For Each of the Top 10 Shareholders % of total shares of % of total shares of
No. No. of shares No. of shares a) At the Beginning of the Year 0 0.00
the Company the Company
b) Changes during the year
1 L AND T MUTUAL FUND TRUSTEE LIMITED - L AND T
Date Reason
HYBRID EQUITY FUND
13/11/2020 Transfer 200000 0.35 200000 0.35
a) At the Beginning of the Year 2772596 4.89
20/11/2020 Transfer 1000 0.00 201000 0.35
b) Changes during the year
27/11/2020 Transfer 2500 0.00 203500 0.36
Date Reason
04/12/2020 Transfer 9738 0.02 213238 0.38
03/04/2020 Transfer (5454) 0.01 2767142 4.88
11/12/2020 Transfer 26762 0.05 240000 0.42
10/04/2020 Transfer (2837) 0.01 2764305 4.87
18/12/2020 Transfer 10000 0.02 250000 0.44
17/04/2020 Transfer (2649) 0.01 2761656 4.87
25/12/2020 Transfer 187737 0.33 437737 0.77
24/04/2020 Transfer (11438) 0.02 2750218 4.85
31/12/2020 Transfer 62263 0.11 500000 0.88

Statutory reports
01/05/2020 Transfer (228368) 0.40 2521850 4.45
29/01/2021 Transfer 39223 0.07 539223 0.95
08/05/2020 Transfer (22017) 0.04 2499833 4.41
05/02/2021 Transfer 10777 0.02 550000 0.97
15/05/2020 Transfer (112705) 0.20 2387128 4.21
12/03/2021 Transfer 15000 0.03 565000 1.00
22/05/2020 Transfer (35819) 0.06 2351309 4.15
c) At the End of the Year 565000 1.00
29/05/2020 Transfer (14492) 0.03 2336817 4.12
6 PERPETUAL ENTERPRISES LLP
05/06/2020 Transfer (81170) 0.14 2255647 3.98
a) At the Beginning of the Year 349010 0.62
12/06/2020 Transfer (26279) 0.05 2229368 3.93
b) Changes during the year
26/06/2020 Transfer (37328) 0.07 2192040 3.87 Date Reason
30/06/2020 Transfer (60019) 0.11 2132021 3.76 15/01/2021 Transfer 24000 0.04 373010 0.66

Financial statements
03/07/2020 Transfer (767) 0.00 2131254 3.76 c) At the End of the Year 373010 0.66
31/07/2020 Transfer (36452) 0.06 2094802 3.69 7 SURYA LAXMI CONTRACTORS LLP
14/08/2020 Transfer (37384) 0.07 2057418 3.63 a) At the Beginning of the Year 331304 0.58
21/08/2020 Transfer (46466) 0.08 2010952 3.55 b) Changes during the year
28/08/2020 Transfer (100000) 0.18 1910952 3.37 Date Reason
04/09/2020 Transfer (201390) 0.36 1709562 3.01 30/06/2020 Transfer (70000) 0.12 261304 0.46
11/09/2020 Transfer (47441) 0.08 1662121 2.93 c) At the End of the Year 261304 0.46

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Shareholding at the beginning of the year Cumulative Shareholding during the year Shareholding at the beginning Cumulative Shareholding
Sl. of the year during the year
For Each of the Top 10 Shareholders % of total shares of % of total shares of Sl.
No. No. of shares No. of shares Name
the Company the Company No. % of total shares of % of total shares of
No. of shares No. of shares
8 CLIFF TREXIM PRIVATE LIMITED the Company the Company

a) At the Beginning of the Year 60000 0.11 4 BINAY KUMAR GUPTA

b) Changes during the year a) At the Beginning of the Year 1570170 2.767
Date Reason b) Changes during the year
22/05/2020 Transfer 15000 0.03 75000 0.13 Date Reason

Our performance
29/05/2020 Transfer 25000 0.04 100000 0.18 28/08/2020 Transfer (1000000) (1.76) 570170 1.01
04/09/2020 Transfer 10604 0.02 110604 0.20 c) At the End of the Year 570170 1.01
11/09/2020 Transfer 2900 0.01 113504 0.20 5 KRISHAN KUMAR GUPTA
16/10/2020 Transfer 7998 0.01 121502 0.21 a) At the Beginning of the Year 1616500 2.85
23/10/2020 Transfer 7002 0.01 128504 0.23 b) Changes during the year
06/11/2020 Transfer 27374 0.05 155878 0.28 Date Reason
13/11/2020 Transfer 200000 0.35 355878 0.63 28/08/2020 Transfer (880000) (1.55) 736500 1.30
18/12/2020 Transfer (40000) 0.07 315878 0.56 c) At the End of the Year 736500 1.30
31/12/2020 Transfer (54878) 0.10 261000 0.46 6 GOPALA KRISHNAN SARANKAPANI
c) At the End of the Year 261000 0.46 a) At the Beginning of the Year 1750 0.00

Strategic priorities
9 SIDDHANT AGARWAL b) Changes during the year [NO CHANGES DURING THE YEAR]
a) At the Beginning of the Year 148200 0.26 c) At the End of the Year 1750 0.00
b) Changes during the year 7 VINOD KUMAR GUPTA
Date Reason a) At the Beginning of the Year 1535590 2.71
05/06/2020 Transfer (1200) 0.00 147000 0.26 b) Changes during the year
28/08/2020 Transfer (4500) 0.01 142500 0.25 Date Reason
18/09/2020 Transfer 65000 0.12 207500 0.37 28/08/2020 Transfer (1090000) (1.92) 445590 0.79
20/11/2020 Transfer (1000) 0.00 206500 0.36 12/03/2021 Transfer (200000) (0.35) 245590 0.43
26/03/2021 Transfer (1000) 0.00 205500 0.36 c) At the End of the Year 245590 0.43
110 8 ANIL KUMAR SABOO
111
c) At the End of the Year 205500 0.36
10 VALUE ROCK BROKING SERVICES PRIVATE LIMITED a) At the Beginning of the Year 50 0.00
a) At the Beginning of the Year 1500 0.00 b) Changes during the year
b) Changes during the year Date Reason
Date Reason 25/03/2021 Transfer 100 0.00 150 0.00

ESG approach
05/06/2020 Transfer 200000 0.35 201500 0.36 c) At the End of the Year 150 0.00
c) At the End of the Year 201500 0.36 TOTAL 6390460 11.28 2495460 4.40
TOTAL 8104332 14.29 6719658 11.85

V. INDEBTEDNESS
iv) Shareholding of Directors and Key Managerial Personnel*:
A. Indebtedness of the Company including interest outstanding/accrued but not due for payment:
Shareholding at the beginning Cumulative Shareholding
Sl. of the year during the year (` in Lacs)
Name
No. % of total shares of % of total shares of Secured Loans Total
No. of shares No. of shares Unsecured Loans Deposit
the Company the Company excluding deposits Indebtedness
1 ANKIT GUPTA Indebtedness at the beginning of the financial year

Statutory reports
a) At the Beginning of the Year 0 0.00 Principal Amount 20,453.95 545.00 20,998.95
Interest due but not paid - - -
b) Changes during the year
Interest accrued but not due 54.82 - 54.82
Date Reason
Total (i+ii+iii) 20,508.77 545.00 21,053.77
28/08/2020 Transfer 400000 0.71
Change in Indebtedness during the financial year
c) At the End of the Year 400000 0.71 • Addition - - -
2 BAJRANG KUMAR GUPTA • Reduction 8,411.04 218.64 8,629.68
a) At the Beginning of the Year 1661450 2.93 Net Change 8,411.04 218.64 8,629.68
b) Changes during the year Indebtedness at the end of the financial year
Date Reason i) Principal Amount 12,076.10 326.36 12,402.46

Financial statements
28/08/2020 Transfer (1125000) (1.98) 536450 0.95 ii) Interest due but not paid - - -
c) At the End of the Year 536450 0.95 iii) Interest accrued but not due 21.63 - 21.63
3 BINAY KUMAR AGARWAL Total (i+ii+iii) 12,097.73 326.36 12,424.09
a) At the Beginning of the Year 5000 0.01
b) Changes during the year [NO CHANGES DURING THE YEAR]
c) At the End of the Year 5000 0.01

Annual Report 2020-21

 Dollar Industries Limited

Who we are
VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL D. REMUNERATION TO KEY MANAGERIAL PERSONNEL OTHER THAN MD/MANAGER/WTD
(` in Lacs)
B. Remuneration to Managing Director, Whole-time Directors and/or Manager: Key Managerial Personnel
(` in Lacs) Sl.
Particulars of Remuneration Mr. Ankit Gupta Mr. Abhishek Total Amount
Names of MD/WTD/Manager No.
(CFO) Mishra (CS)
Mr. 1 Gross salary
Sl. Mr. Vinod Mr. Binay Mr. Bajrang Mr. Krishan
Gopalakrishnan
No.
Particulars of Remuneration Kumar Gupta, Kumar Gupta, Kumar Gupta, Kumar Gupta, Total Amount (a) Salary as per provisions contained in section 17(1) of the Income-tax Act, 22.80 7.11 29.91
Sarankapani,
Managing Managing Whole- Time Whole- Time
Whole-Time 1961

Our performance
Director Director Director Director (b) Value of perquisites u/s 17(2) Income-tax Act, 1961
Director
1 Gross Salary (c) Profits in lieu of salary under section 17(3) Income-tax Act, 1961
(a) Salary as per provisions contained 96.90 96.90 68.40 68.40 15.13 345.73 2 Stock Option
in section 17(1) of the Income-tax 3 Sweat Equity
Act, 1961 4 Commission
(b) Value of perquisites u/s 17(2) 12.00 9.00 9.00 15.00 - 45.00 - as % of profit
Income-tax Act, 1961 - others, specify.............
(c) Profits in lieu of salary under - - - - - - 5 Others, please specify
section 17(3) Income-tax Act, 1961
Total 22.80 7.11 29.91
2 Stock Option - - - - - -
3 Sweat Equity - - - - - -
VII. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES:

Strategic priorities
4 Commission - - - - - -
- as % of profit
Details of Penalty
- Others, specify
Section of the /Punishment/ Authority [RD / Appeal made,
5 Others, please specify - - - - - - Type Brief Description
Companies Act Compounding fees NCLT / COURT] if any(give Details)
Total (A) 108.90 105.90 77.40 83.40 15.13 390.73 imposed
Ceiling as per the Act 10% of the Net Profit as calculated u/s. 198 of the Companies Act, 2013 A. COMPANY
Penalty NIL NIL NIL NIL NIL
C. Remuneration to other Directors: Punishment NIL NIL NIL NIL NIL
(` in Lacs) Compounding NIL NIL NIL NIL NIL
112 Name of Directors B. DIRECTORS 113
Sl. Mr. Binay Mrs. Mr. Rajesh Mr. Anil Penalty NIL NIL NIL NIL NIL
Particulars of Remuneration Mr. Sunil* Mr. Srikumar Total Amount
No. Kumar Divyaa Kumar Kumar
Mitra Bandyopadhyay Punishment NIL NIL NIL NIL NIL
Agarwal Newatia Bubna Saboo
1 Independent Directors Compounding NIL NIL NIL NIL NIL
• Fee for attending Board / Committee 0.94 0.10 1.00 1.06 0.40 0.30 3.80 C. OTHER OFFICERS IN DEFAULT

ESG approach
• Commission - - - - - - - Penalty NIL NIL NIL NIL NIL
• Others, please specify - - - - - - - Punishment NIL NIL NIL NIL NIL
Total (1) 0.94 0.10 1.00 1.06 0.40 0.30 3.80 Compounding NIL NIL NIL NIL NIL
Mr. Sanjay Jhunjhunwala, Non-Executive Director**
2 Other Non-Executive Directors
• Fee for attending Board / Committee - -
• Commission - -
• Others, please specify - - Sd/- Sd/-
Total (2) - - Vinod Kumar Gupta Krishan Kumar Gupta
Total (B)=(1+2) 3.80 Date: 29 May, 2021 Managing Director Whole-Time Director
Total Managerial Remuneration Place: Kolkata DIN: 00877949 DIN: 01982914

Statutory reports
Overall Ceiling as per the Act ` 1,00,000 per meeting.

*Resigned from the office of directors w.e.f. 05 October, 2021

**Resigned from the office of directors w.e.f. 20 October, 2021

Financial statements
Annual Report 2020-21
 Dollar Industries Limited

Who we are
ANNEXURE-‘L’ TO THE DIRECTORS’ REPORT

FORM AOC-1
(Pursuant to first proviso to sub-section (3) of section 129 read with rule 5 of Companies (Accounts) Rules, 2014)
Statement containing salient features of the financial statement of subsidiaries or associate companies or joint ventures

Our performance
PART A SUBSIDIARIES
(Information in respect of each subsidiary to be presented with amounts in [`])
1. Sl. No. NA
2. Name of the Subsidiary NA
3. The date since when Subsidiary was acquired NA
4. Reporting period for the Subsidiary concerned, if different from the holding Company’s reporting period NA
5. Reporting currency and Exchange rate as on the last date of the relevant financial year in the case of foreign subsidiaries NA
6. Share capital NA
7. Reserves and surplus NA

Strategic priorities
FINANCIAL
8. Total assets NA
9. Total Liabilities NA
10. Investments NA
11. Turnover NA

STATEMENTS
12. Profit before taxation NA
13. Provision for taxation NA
14. Profit after taxation NA
15. Proposed Dividend NA
114 16. Extent of shareholding (in percentage) NA 115

PART B ASSOCIATES AND JOINT VENTURES STANDALONE 116

Statement pursuant to Section 129 (3) of the Companies Act, 2013 related to Associate Companies and Joint Ventures
CONSOLIDATED 168

ESG approach
Pepe Jeans Innerfashion Private Limited
Name of Associates or Joint Ventures
Joint Venture Company)
1. Latest audited Balance Sheet Date 19 May, 2021
2. Date on which the Associate or Joint Venture was associated or acquired 29 November, 2017
3. Shares of Associate or Joint Ventures held by the Company on the year end
No. 100,00,000
Amount of Investment in Associates or Joint Venture ` 1000.00
Extent of Holding (in percentage) 50%
4. Description of how there is significant influence Significant influence i.e. 50% by virtue of shareholding
5. Reason why the associate/joint venture is not consolidated N.A.

Statutory reports
6. Net worth attributable to shareholding as per latest audited Balance Sheet ` 393.94
7. Profit or Loss for the year
i. Considered in Consolidation ` (194.37)
ii. Not Considered in Consolidation -

Sd/- Sd/-
Vinod Kumar Gupta Krishan Kumar Gupta
Managing Director Whole-Time Director

Financial statements
DIN: 00877949 DIN: 01982914

Sd/- Sd/-
Date: 29 May, 2021 Abhishek Mishra Ankit Gupta
Place: Kolkata Company Secretary Chief Financial Officer

Annual Report 2020-21

 Dollar Industries Limited

Who we are
INDEPENDENT AUDITOR’S REPORT Key audit matter
2. Recoverability of trade receivables
How our audit addressed the key audit matter
Our procedures included, but was not limited to the following:
(Refer Note 3.4.a and 16 to the Standalone financial statements) • Evaluated and tested the controls relating to credit control and
The Company has trade receivables amounting to ` 33,092.28 approval process and assessing the recoverability of overdue
lakhs (net of provision for expected credit losses of ` 330.48 lakhs) receivables by comparing management’s views of recoverability of
as at March 31, 2021 as detailed in Notes 16 to the standalone overdue receivables to historical patterns of receipts, in conjunction
financial statements. with reviewing receipts subsequent to the financial year end for its
To the Members of Dollar Industries Limited Basis for Opinion effect in reducing overdue receivables at the financial year end
Due to the inherent subjectivity that is involved in making judgments

Our performance
in relation to credit risk exposures to determine the recoverability of • Checked on sample basis balance confirmations from customers to
We conducted our audit of the standalone financial statements in trade receivables and significant estimates and judgments made test whether trade receivables as per books are acknowledged by
REPORT ON THE AUDIT OF THE STANDALONE
accordance with the Standards on Auditing (SAs) specified under by the management for provision for loss allowance under expected them.
FINANCIAL STATEMENTS
section 143(10) of the Act. Our responsibilities under those credit loss model. Based on above, the matter has been considered • Reviewed at the adequacy of the management judgements and
Opinion Standards are further described in the Auditor’s Responsibilities to be a key audit matter. estimates on the sufficiency of provision for doubtful debts through
for the Audit of the Standalone Financial Statements’ section of detailed analyses of ageing of receivables and assessing the adequacy
We have audited the accompanying standalone financial of disclosures in respect of credit risk.
our report. We are independent of the Company in accordance
statements of Dollar Industries Limited (“the Company”), Our Conclusion :
with the ‘Code of Ethics’ issued by the Institute of Chartered
which comprise the Standalone Balance sheet as at March 31 Based on the above procedures, we did not identify any significant deviation
Accountants (ICAI) of India together with the ethical requirements
2021, the Standalone Statement of Profit and Loss, (including to the assessment made by management in respect recoverability of trade
that are relevant to our audit of the standalone financial
Other Comprehensive Income), the Statement of Cash Flow and receivables.
statements under the provisions of the Act and the Rules there
the Standalone Statement of Changes in Equity for the year

Strategic priorities
3. Inventories valuation and existence: Our procedures included, but was not limited to the following:
under, and we have fulfilled our other ethical responsibilities
then ended, and notes to the Standalone financial statements, (Refer Note 3.7 and 15 to the standalone financial statements) • Obtained a detailed understanding and evaluated the design and
in accordance with these requirements and the ICAI’s Code of
including a summary of significant accounting policies and The Company has Inventories of ` 33,394.70 lakhs as at March implementation of controls that the Company has established in
Ethics. We believe that the audit evidence we have obtained is relation to inventory valuation and existence.
other explanatory information(hereinafter referred to as “the 31, 2021 as detailed in Notes 15 to the standalone financial
sufficient and appropriate to provide a basis for our audit opinion statements. • Observed the physical verification of inventories count at the financial
standalone financial statements”).
on the standalone financial statements. year end and assessed the adequacy of controls over the existence of
Inventories valuation and existence has been determined to be
a key audit matter as inventories may be held for long periods of inventories.
In our opinion and to the best of our information and according to
Key Audit Matters time before being sold making it vulnerable to obsolescence. This • Obtained assurance over the appropriateness of management’s
the explanations given to us, the aforesaid standalone financial
could result in an overstatement of the value of the inventories if assumptions applied in calculating the gross profit margin and
statements give the information required by the Companies Act, Key audit matters are those matters that, in our professional
the cost is higher than the net realisable value. Furthermore, the discounts to be deducted from sales price to arrive at cost of goods.
116 2013 (“the Act”) in the manner so required and give a true and judgment, were of most significance in our audit of the standalone assessment and application of inventories provisions are subject to 117
• Evaluated management judgment with regards to the application of
fair view in conformity with the Indian Accounting Standards financial statements of the current period. These matters were significant management judgment. provisions to the inventories.
prescribed under section 133 of the Act read with the Companies addressed in the context of our audit of the standalone financial Our Conclusion :
(Indian Accounting Standards) Rules, 2015, as amended, and statements as a whole, and in forming our opinion thereon, and
Based on the above procedures, we did not identify any significant
other accounting principles generally accepted in India, of the we do not provide a separate opinion on these matters. For each deviation to the assessment made by management in respect Inventories
state of affairs (financial position) of the Company as at March matter below, our description of how our audit addressed the

ESG approach
valuation and existence.
31, 2021, its profit (financial performance including other matter is provided in that context.
comprehensive income), its cash flows and the changes in equity Information Other than the Standalone Financial Responsibility of Management and Those Charged with
for the year ended on that date. Statements and Auditor’s Report Thereon Governance for the Standalone Financial Statements
The Company’s Board of Directors is responsible for the The Company’s Board of Directors is responsible for the matters
Key audit matter How our audit addressed the key audit matter preparation of the other information. The other information stated in section 134(5) of the Act with respect to the preparation
1. Estimation of rebates, discounts and sales returns Our procedures included, but was not limited to the following: comprises the information included in the Management of these standalone financial statements that give a true and fair
(Refer Note 3.10 to the standalone financial statements) • Obtained a detailed understanding from the management with regard Discussion and Analysis, Board’s Report including Annexures view of the financial position, financial performance including
The Company sells its products through various channels like to controls relating to recording of rebates, discounts, sales returns to Board’s Report, Business Responsibility Report, Corporate other comprehensive income, cash flows and changes in equity
distributors, retailers, e-commerce etc. and recognizes liabilities and period end provisions relating to estimation of revenue, and tested
Governance and Shareholder’s Information, but does not of the Company in accordance with the accounting principles
related to rebates, discounts and sales returns. the operating effectiveness of such controls;
include the Standalone financial statements and our auditor’s generally accepted in India, including the Indian Accounting

Statutory reports
As per the accounting policy of the Company, the revenue is • Tested the inputs used in the estimation of revenue in context of
report thereon. Standards (Ind AS) specified under section 133 of the Act read
recognised upon transfer of control of goods to the customer and rebates, discounts and sales returns to source data;
with the Companies (Indian Accounting Standards) Rules, 2015,
thus requires an estimation of the revenue taking into consideration • Assessed the underlying assumptions used for determination of
the rebates, discounts and sales returns as per the terms of rebates, discounts and sales returns; Our opinion on the Standalone financial statements does not as amended. This responsibility also includes maintenance of
the contracts. With regard to the determination of revenue, the • Ensured the completeness of liabilities recognised by evaluating the
cover the other information and we do not express any form of adequate accounting records in accordance with the provisions
management is required to make significant estimates in respect of parameters for sample schemes; assurance conclusion thereon. of the Act for safeguarding the assets of the Company and
following: • Performed look-back analysis for past trends by comparing recent for preventing and detecting frauds and other irregularities;
• the rebates/ discounts linked to sales, which will be given to the actuals with the estimates of earlier periods and assessed subsequent In connection with our audit of the Standalone financial selection and application of appropriate accounting policies;
customers pursuant to schemes offered by the Company; events; statements, our responsibility is to read the other information making judgments and estimates that are reasonable and
• provision for sales returns, where the customer has the right to • Tested credit notes issued to customers and payments made to them and, in doing so, consider whether such other information is prudent; and the design, implementation and maintenance

Financial statements
return the goods to the Company; and during the year and subsequent to the year end along with the terms materially inconsistent with the Standalone financial statements of adequate internal financial controls, that were operating
• compensation (discounts) offered by the customers to the of the related schemes. or our knowledge obtained during the course of our audit or effectively for ensuring the accuracy and completeness of the
ultimate consumers at the behest of the Company. Our Conclusion : otherwise appears to be materially misstated. If, based on the accounting records, relevant to the preparation and presentation
The matter has been determined to be a key audit matter in view of Based on the above procedures, we did not identify any significant deviation work we have performed, we conclude that there is a material of the Standalone financial statements that give a true and fair
the involvement of significant estimates by the management. to the assessment made by management in respect of estimation of misstatement of this other information; we are required to report view and are free from material misstatement, whether due to
rebates, discounts and sales returns. that fact. We have nothing to report in this regard. fraud or error.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
In preparing the Standalone financial statements, management auditor’s report. However, future events or conditions may (c) The Standalone Balance Sheet, the Standalone (h) With respect to the other matters to be included in
and Board of Directors are responsible for assessing the cause the Company to cease to continue as a going concern. Statement of Profit and Loss (including Other the Auditor’s Report in accordance with Rule 11 of
Company’s ability to continue as a going concern, disclosing, Comprehensive Income), the Standalone Statement the Companies (Audit and Auditors) Rules, 2014,
• Evaluate the overall presentation, structure and content of the
as applicable, matters related to going concern and using the of Cash Flow and Standalone Statement of Changes as amended, in our opinion and to the best of our
standalone financial statements, including the disclosures,
going concern basis of accounting unless management either in Equity dealt with by this Report are in agreement information and according to the explanations given
and whether the financial statements represent the underlying
intends to liquidate the Company or to cease operations, or with the books of account; to us:
transactions and events in a manner that achieves fair
has no realistic alternative but to do so. Those charged with
presentation.
governance are also responsible for overseeing the Company’s (d) In our opinion, the aforesaid standalone financial I. The Company has disclosed the impact of

Our performance
financial reporting process. statements comply with the Indian Accounting pending litigations on its financial position in its
Materiality is the magnitude of misstatements in the standalone
Standards specified under Section 133 of the Act, Standalone financial statements – Refer Note
financial statements that, individually or in aggregate, makes
Auditor’s Responsibilities for the Audit of the Standalone read with Companies (Indian Accounting Standards) 39;
it probable that the economic decisions of a reasonably
Financial Statements Rules, 2015, as amended from time to time;
knowledgeable user of the financial statements may be
II. The Company did not have any long-term
Our objectives are to obtain reasonable assurance about whether influenced. We consider quantitative materiality and qualitative
(e) On the basis of the written representations received contracts including derivative contracts for which
the standalone financial statements as a whole are free from factors in (i) planning the scope of our audit work and in
from the directors as on March 31, 2021 taken on there were any material foreseeable losses.
material misstatement, whether due to fraud or error, and to evaluating the results of our work; and (ii) to evaluate the effect
record by the Board of Directors, none of the directors
issue an auditor’s report that includes our opinion. Reasonable of any identified misstatements in the financial statements.
is disqualified as on March 31, 2021 from being III. There was no amount which was required to
assurance is a high level of assurance, but is not a guarantee that
appointed as a director in terms of Section 164(2) of be transferred to the Investor Education and
an audit conducted in accordance with Standards on Auditing We communicate with those charged with governance regarding,

Strategic priorities
the Act; Protection Fund by the Company.
will always detect a material misstatement when it exists. among other matters, the planned scope and timing of the
Misstatements can arise from fraud or error and are considered audit and significant audit findings, including any significant
(f) With respect to the adequacy of the internal financial For Singhi & Co.
material if, individually or in the aggregate, they could reasonably deficiencies in internal control that we identify during our audit.
controls with reference to standalone financial Chartered Accountants
be expected to influence the economic decisions of users taken
statement of the Company and the operating Firm Registration No.302049E
on the basis of these standalone financial statements. We also provide those charged with governance with a statement
effectiveness of such controls, refer to our separate
that we have complied with relevant ethical requirements
Report in “Annexure B” of this report. (SHRENIK MEHTA)
As part of an audit in accordance with Standards on Auditing, regarding independence, and to communicate with them
Partner
we exercise professional judgment and maintain professional all relationships and other matters that may reasonably be
(g) In our opinion, the managerial remuneration for the Membership No. 063769
118 scepticism throughout the audit. We also: thought to bear on our independence, and where applicable, 119
year ended March 31, 2021 has been paid/ provided UDIN: 21063769AAAAAP4675
related safeguards.
• Identify and assess the risks of material misstatement of by the Company to its directors in accordance with the
the standalone financial statements, whether due to fraud provisions of section 197 read with Schedule V to the Place: Kolkata
From the matters communicated with those charged with
or error, design and perform audit procedures responsive to Act; and Dated: May 29, 2021
governance, we determine those matters that were of most
those risks, and obtain audit evidence that is sufficient and
significance in the audit of the standalone financial statements

ESG approach
appropriate to provide a basis for our opinion. The risk of not
of the current period and are therefore the key audit matters.
detecting a material misstatement resulting from fraud is
We describe these matters in our auditor’s report unless law or
higher than for one resulting from error, as fraud may involve
regulation precludes public disclosure about the matter or when,
collusion, forgery, intentional omissions, misrepresentations,
in extremely rare circumstances, we determine that a matter
or the override of internal control.
should not be communicated in our report because the adverse
• Obtain an understanding of internal control relevant to the consequences of doing so would reasonably be expected to
audit in order to design audit procedures that are appropriate outweigh the public interest benefits of such communication.
in the circumstances. Under section 143(3)(i) of the Act, we
are also responsible for expressing our opinion on whether Report on Other Legal and Regulatory Requirements
the Company has adequate internal financial controls with
1. As required by the Companies (Auditor’s Report) Order, 2016

Statutory reports
reference to financial statements in place and the operating
(“the Order”) issued by the Central Government of India in
effectiveness of such controls.
terms of sub-section (11) of section 143 of the Act, we give
• Evaluate the appropriateness of accounting policies used in the “Annexure A” a statement on the matters specified in
and the reasonableness of accounting estimates and related paragraphs 3 and 4 of the Order, to the extent applicable.
disclosures made by management and Board of Directors.
2. As required by section 143 (3) of the Act, based on our
• Conclude on the appropriateness of management’s use of the
audit, we report that:
going concern basis of accounting and, based on the audit
evidence obtained, whether a material uncertainty exists
(a) We have sought and obtained all the information and
related to events or conditions that may cast significant doubt

Financial statements
explanations which to the best of our knowledge and
on the Company’s ability to continue as a going concern. If we
belief were necessary for the purposes of our audit;
conclude that a material uncertainty exists, we are required to
draw attention in our auditor’s report to the related disclosures
(b) In our opinion, proper books of account as required
in the standalone financial statements or, if such disclosures
by law have been kept by the Company so far as it
are inadequate, to modify our opinion. Our conclusions are
appears from our examination of those books;
based on the audit evidence obtained up to the date of our

Annual Report 2020-21

 Dollar Industries Limited

Who we are
ANNEXURE ‘A’ TO THE INDEPENDENT AUDITOR’S REPORT b. According to the information and explanations given to us, the details of disputed dues of sales tax, income tax, customs duty,
Goods & Service Tax, service tax, and Cess, as at 31st March, 2021, are as follows:
Amount Period to which the Amount
Name of the Statute Nature of Dues Forum where dispute is pending
(` in lakhs) relates Assessment Year
Income Tax Act, 1961 Tax and Interest 1.49 2009-10 DCIT
Income Tax Act, 1961 Tax and Interest 4.54 2010-11 CIT(A)
(Referred to in paragraph 1 under ‘Report on Other Legal IV. In our opinion and according to the information and Income Tax Act, 1961 Tax and Interest 78.02 2012-13 CIT(A)

Our performance
and Regulatory Requirements’ section of our report to the explanations given to us, the Company has complied with Income Tax Act, 1961 Tax and Interest 4.05 2014-15 CIT(A)
Members of Dollar Industries Limited of even date) the provisions of section 185 and 186 of the Act, with Income Tax Act, 1961 Tax and Interest 23.50 2015-16 CPC
respect to the loans and investments made, guarantees Central Excise Act, 1944 Tax and Interest 3.06 1st April, 2003 to July, 2004 CESTAT
We report that:
and security provided by it, as applicable.
I. In respect of its Fixed Assets: VIII. Based on our audit procedures and according to information applicable and details of such transactions have been
V. According to information and explanations given to us, the
and explanations given to us, we are of the opinion that disclosed in the Standalone financial statements as
(a) The Company is maintaining proper records showing Company has not accepted deposits from public within the
the Company has not defaulted in repayment of dues to required by the applicable Indian Accounting Standards.
full particulars, including quantitative details and meaning of Section 73 to 76 of the Act and the Companies
financial institutions and banks. There were no debentures
situation of fixed assets, which is in the process of (Acceptance of Deposits) Rules, 2014 (as amended) during
outstanding at any time during the year. XIV. According to the information and explanations given to us,
further updation. the year. Accordingly, the provisions of Clause 3(v) of the
during the year the Company has not made any preferential
Order are not applicable.

Strategic priorities
IX. In our opinion and according to the information and allotment or private placement of shares or fully or partly
(b) The Company has a program of verification of property,
explanations given to us, the Company did not raise any paid convertible debentures during the year and hence
plant and equipment to cover all the items in a phased VI. To the best of our knowledge and according to information
money by way of initial public offer or further public offer reporting under Clause 3(xiv) of the Order are not applicable
manner over a period of three years, which, in our and explanations given to us, the Government has not
(including debt instruments), however term loans raised to the Company.
opinion, is reasonable having regard to the size of the specified maintenance of the cost records under Section
during the year have been utilised for the purposes for
Company and the nature of its assets. Pursuant to 148(1) of the Companies Act, 2013 in regard to the activities
which they were raised. XV. According to the information and explanations given to us
the program, certain property, plant and equipment of the Company.
and as represented to us by the management and based
were physically verified by the management during the
X. According to the information and explanations given to us, on our examination of the records of the Company, the
year. According to the information and explanations VII. According to the information and explanations given to
no material fraud by the Company or on the Company by its Company has not entered into non-cash transactions with
120 given to us, no material discrepancies were noticed us and on the basis of our examination of the records of 121
officers or employees has been noticed or reported during directors or persons connected with him. Accordingly, the
on such verification. the Company:
the year. provisions of Clause 3(xv) of the Order are not applicable.
(c) According to the information and explanations given a. The Company is regular in depositing undisputed
XI. According to the information and explanations given to XVI. The Company is not required to be registered under section
to us and on the basis of our examination of the statutory dues including provident fund, employee’s
us and based on our examination of the records of the 45-IA of the Reserve Bank of India Act 1934. Accordingly, the
records of the Company, the title deeds of immovable state insurance, income tax, sales tax, service tax,

ESG approach
Company, the Company has paid/provided for managerial provisions of Clause 3(xvi) of the Order are not applicable.
properties are held in the name of the Company. duty of customs, value added tax, cess, Goods
remuneration in accordance with the requisite approvals
and Service tax and other statutory dues with the
mandated by the provisions of section 197 read with
II. In respect of inventories (excluding stocks with third parties), appropriate authorities. According to the information
Schedule V to the Act. For Singhi & Co.
physical verification has been conducted at reasonable and explanations given to us, no undisputed amounts
Chartered Accountants
intervals during the year by the management and in payable in respect of provident fund, employees’
XII. In our opinion and according to the information and Firm Registration No.302049E
our opinion the frequency of verification is reasonable. state insurance income tax, sales tax, service tax,
explanations given to us, the Company is not a Nidhi
According to the information and explanation given to us, no duty of customs, value added tax, Goods and Service
Company. Accordingly, the provisions of Clause 3(xii) of the (SHRENIK MEHTA)
material discrepancies were noticed on physical verification tax, cess, and other material statutory dues were in
Order are not applicable. Partner
of inventories as compared to the book records. Inventories arrears as at March 31, 2021 for a period of more than
Membership No. 063769
lying with third parties have been confirmed by them at the six months from the date they became payable.
XIII. According to the information and explanations given to UDIN: 21063769AAAAAP4675

Statutory reports
year end.
us and based on our examination of the records of the
Company, transactions with the related parties are in Place: Kolkata
III. The Company has not granted any loan to parties covered in
compliance with sections 177 and 188 of the Act where Dated: May 29, 2021
the register maintained under section 189 of the Companies
Act, 2013. Accordingly, the provisions of Clause 3(iii) of the
Order are not applicable.

Financial statements
Annual Report 2020-21
 Dollar Industries Limited

Who we are
reference to financial statements and such internal financial
ANNEXURE “B” TO THE INDEPENDENT AUDITOR’S REPORT INHERENT LIMITATIONS OF INTERNAL FINANCIAL
CONTROLS WITH REFERENCE TO FINANCIAL
controls with reference to standalone financial statements
were operating effectively as at March 31, 2021, based on
STATEMENTS
the internal control with reference to financial statements
7. Because of the inherent limitations of internal financial criteria established by the Company considering the
controls with reference to financial statements, including the essential components of internal control stated in the
possibility of collusion or improper management override Guidance Note on Audit of Internal Financial Controls Over
(Referred to in paragraph 2 (f) under ‘Report on Other Legal and Note require that we comply with ethical requirements and of controls, material misstatements due to error or fraud Financial Reporting issued by the Institute of Chartered

Our performance
Regulatory Requirements’ section of our report to the Members plan and perform the audit to obtain reasonable assurance may occur and not be detected. Also, projections of any Accountants of India.
of Dollar Industries Limited of even date) about whether adequate internal financial controls with evaluation of the internal financial controls with reference to
reference to financial statements was established and financial statements to future periods are subject to the risk For Singhi & Co.
maintained and if such controls operated effectively in all that the internal financial control with reference to financial Chartered Accountants
REPORT ON THE INTERNAL FINANCIAL CONTROLS
material respects. statements may become inadequate because of changes Firm Registration No.302049E
WITH REFERENCE TO STANDALONE FINANCIAL
in conditions, or that the degree of compliance with the
STATEMENT UNDER CLAUSE (I) OF SUB-SECTION 3 OF
4. Our audit involves performing procedures to obtain audit policies or procedures may deteriorate. (SHRENIK MEHTA)
SECTION 143 OF THE COMPANIES ACT, 2013 (“THE
evidence about the adequacy of the internal financial Partner
ACT”)
controls with reference to financial statements and their Membership No. 063769
OPINION
1. We have audited the internal financial controls with operating effectiveness. Our audit of internal financial UDIN: 21063769AAAAAP4675
reference to Standalone financial statements of Dollar controls with reference to standalone financial statements 8. In our opinion and to the best of the information and

Strategic priorities
Industries Limited (“the Company”) as of March 31, 2021 included obtaining an understanding of internal financial explainations given to us, the Company has, in all material Place: Kolkata
in conjunction with our audit of the standalone financial controls with reference to financial statements, assessing respects, an adequate internal financial controls with Dated: May 29, 2021
statements of the Company for the year ended on that date. the risk that a material weakness exists, and testing and
evaluating the design and operating effectiveness of
internal control based on the assessed risk. The procedures
MANAGEMENT’S RESPONSIBILITY FOR INTERNAL
selected depend on the auditor’s judgment, including the
FINANCIAL CONTROLS
assessment of the risks of material misstatement of the
2. The Company’s management is responsible for establishing standalone financial statements, whether due to fraud
122 and maintaining internal financial controls based on the or error. 123
internal control with reference to financial statements
criteria established by the Company considering the 5. We believe that the audit evidence we have obtained is
essential components of internal control stated in the sufficient and appropriate to provide a basis for our audit
Guidance Note on Audit of Internal Financial Controls over opinion on the Company’s internal financial controls with
Financial Reporting issued by the Institute of Chartered reference to standalone financial statements.

ESG approach
Accountants of India (‘ICAI’). These responsibilities include
the design, implementation and maintenance of adequate
MEANING OF INTERNAL FINANCIAL CONTROLS WITH
internal financial controls that were operating effectively
REFERENCE TO FINANCIAL STATEMENTS
for ensuring the orderly and efficient conduct of its
business, including adherence to Company’s policies, the 6. A company’s internal financial control with reference to
safeguarding of its assets, the prevention and detection of financial statements is a process designed to provide
frauds and errors, the accuracy and completeness of the reasonable assurance regarding the reliability of financial
accounting records, and the timely preparation of reliable reporting and the preparation of standalone financial
financial information, as required under the Companies Act, statements for external purposes in accordance with
2013. generally accepted accounting principles. A Company’s

Statutory reports
internal financial control with reference to financial
statements includes those policies and procedures that (1)
AUDITOR’S RESPONSIBILITY
pertain to the maintenance of records that, in reasonable
3. Our responsibility is to express an opinion on the Company’s detail, accurately and fairly reflect the transactions and
internal financial controls with reference to standalone dispositions of the assets of the Company; (2) provide
financial statements based on our audit. We conducted reasonable assurance that transactions are recorded as
our audit in accordance with the Guidance Note on Audit necessary to permit preparation of standalone financial
of Internal Financial Controls over Financial Reporting (the statements in accordance with generally accepted
“Guidance Note”) and the Standards on Auditing, issued by accounting principles, and that receipts and expenditures
ICAI and prescribed under section 143(10) of the Companies of the Company are being made only in accordance with

Financial statements
Act, 2013, to the extent applicable to an audit of internal authorizations of management and directors of the
financial controls, both applicable to an audit of Internal Company; and (3) provide reasonable assurance regarding
Financial Controls with reference to standalone financial prevention or timely detection of unauthorized acquisition,
statement and both issued by the Institute of Chartered use, or disposition of the Company’s assets that could have
Accountants of India. Those Standards and the Guidance a material effect on the standalone financial statements.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Standalone Balance sheet Standalone Statement of Profit and Loss
as at March 31, 2021 for the year ended March 31, 2021

(` in Lacs) (` in Lacs)

Our performance
Particulars Notes As at March 31, 2021 As at March 31, 2020 Year Ended Year Ended
I ASSETS Particulars Note
March 31, 2021 March 31, 2020
NON-CURRENT ASSETS
a) Property, plant and equipment 5 7,882.15 6,888.66 INCOME
b) Capital work-in-progress 6 1,466.60 1,405.47 Revenue from operations 27 1,03,695.57 96,710.00
c) Right of use assets 7 638.23 539.64
d) Other intangible assets 8 3.68 4.12 Other income 28 348.13 471.20
e) Investment in joint venture 9 1,000.00 1,000.00
f) Financial assets
I Total Income 1,04,043.70 97,181.20
i) Investments 10 62.00 62.04 EXPENSES
ii) Loans 11 77.45 71.99
iii) Other financial assets 12 216.52 262.29 Cost of materials consumed 29 46,466.85 42,447.65
g) Non-current tax assets (net) 14 461.63 461.35 Changes in inventories of finished goods and work-in-progress 30 (1,939.06) 2,399.05
h) Other assets 13 147.00 55.83
i) Deferred tax assets (net) 14 109.30 131.41 Employee benefits expense 31 4,462.83 4,206.91
12,064.56 10,882.80 Finance costs 32 878.69 1,529.03

Strategic priorities
CURRENT ASSETS
a) Inventories 15 33,394.70 30,496.54 Depreciation and amortization expense 33 1,547.08 1,421.24
b) Financial assets Other expenses 34 40,896.70 37,198.43
i) Trade receivables 16 33,092.28 36,009.26
ii) Cash and cash equivalents 17 696.87 589.00 II Total Expenses 92,313.09 89,202.31
iii) Bank balances (other than above) 18 33.35 29.99 III PROFIT BEFORE TAX 11,730.61 7,978.89
iv) Loans 11 37.17 34.29
v) Other financial assets 12 292.30 153.08 IV Tax Expenses 14
c) Other assets 13 4,719.72 4,187.94 Current Tax (incl. earlier years tax) 2,988.23 2,154.07
72,266.39 71,500.10
TOTAL ASSETS 84,330.95 82,382.90 Deferred Tax 14.36 (120.56)
II EQUITY AND LIABILITIES Total Tax Expenses 3,002.59 2,033.51
EQUITY
124 a) Equity share capital 19 1,134.32 1,134.32 V PROFIT AFTER TAX 8,728.02 5,945.38 125
b) Other equity 20 53,147.13 45,360.23 VI Other Comprehensive Income (OCI)
TOTAL EQUITY 54,281.45 46,494.55
LIABILITIES Items that will not be reclassified to profit or loss 35
NON-CURRENT LIABILITIES
a) Financial liabilities
Re-measurement gain/(loss) on defined benefit plans 30.79 (74.64)
i) Borrowings 21 230.76 331.07 Income tax relating to item above (7.75) 18.78
ii) Lease liabilities 22 205.05 256.14

ESG approach
b) Provisions 23 518.67 397.06 Other comprehensive income for the year (net of tax) 23.04 (55.86)
954.48 984.27 Total Comprehensive Income 8,751.06 5,889.52
CURRENT LIABILITIES
a) Financial liabilities VII Earnings per share (FV ` 2 each) 36
i) Borrowings 21 11,957.84 20,498.96 15.39 10.48
ii) Lease liabilities 22 347.95 284.96 Basic (`)
iii) Trade payables 24 Diluted (`) 15.39 10.48
- Total outstanding dues of micro and small enterprises 15.18 11.95
- Total outstanding dues of creditors other than micro 13,936.26 12,022.42 See the accompanying notes forming part of the standalone financial 1-51
and small enterprises statements
iv) Other financial liabilities 25 2,484.78 1,788.25
b) Other liabilities 26 341.46 290.05
c) Provisions 23 11.55 7.49 As per our report of even date attached
29,095.02 34,904.08
TOTAL LIABILITIES 30,049.50 35,888.35
For Singhi & Co. For and on behalf of the Board of Directors of

Statutory reports
TOTAL EQUITY AND LIABILITIES 84,330.95 82,382.90
See the accompanying notes forming part of the standalone 1-51 Chartered Accountants Dollar Industries Limited
financial statements
Firm Reg. No. 302049E CIN: L17299WB1993PLC058969
As per our report of even date attached
Shrenik Mehta Vinod Kumar Gupta Krishan Kumar Gupta
For Singhi & Co. For and on behalf of the Board of Directors of Partner Managing Director Whole Time Director
Chartered Accountants Dollar Industries Limited Membership No.: 063769 DIN: 00877949 DIN: 01982914
Firm Reg. No. 302049E CIN: L17299WB1993PLC058969
Place: Kolkata Ankit Gupta Abhishek Mishra
Shrenik Mehta Vinod Kumar Gupta Krishan Kumar Gupta Date: May 29, 2021 Chief Financial Officer Company Secretary

Financial statements
Partner Managing Director Whole Time Director
Membership No.: 063769 DIN: 00877949 DIN: 01982914

Place: Kolkata Ankit Gupta Abhishek Mishra

Date: May 29, 2021 Chief Financial Officer Company Secretary

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Standalone Statement of Changes in Equity Standalone Statement of Cash Flow
for the year ended March 31, 2021 for the year ended March 31, 2021

(` in Lacs)
A) EQUITY SHARE CAPITAL

Our performance
(` in Lacs) Year Ended Year Ended
Particulars
March 31, 2021 March 31, 2020
Balance as at April 1, 2019 1,134.32
CASH FLOW FROM OPERATING ACTIVITIES
Add/(Less): Changes in equity share capital during the year -
Profit before tax 11,730.61 7,978.89
Balance at March 31, 2020 1,134.32
Adjustments for:
Add/(Less): Changes in equity share capital during the year -
Depreciation and amortisation 1,547.08 1,421.24
Balance at March 31, 2021 1,134.32
Provision for doubtful debts 100.81 135.10
Provision for doubtful other receivables 8.97
B) OTHER EQUITY Receivables written off 48.49 30.67
(` in Lacs) Provisions and liabilities written back (33.76) (88.58)
(Profit)/Loss on sale of property, plant and equipment (net) 1.48 (0.96)

Strategic priorities
Reserves and Surplus
Particulars Total
Securities Premium General Reserve Retained Earnings Deferred revenue - (2.93)
Balance at April 1, 2019 11,790.19 2,258.63 26,586.05 40,634.87 Unrealised foreign exchange fluctuations - 10.44
Profit for the year - - 5,945.38 5,945.38 Interest income (79.28) (8.21)
Remeasurement gain/(loss) on defined benefit obligation - - (74.64) (74.64) Provision for gratuity 165.87 121.41
Impact of tax - - 18.78 18.78 Finance costs 878.69 1,529.03
Total comprehensive income - - 5,889.52 5,889.52 Operating profit before working capital changes 14,368.96 11,126.10
Final dividend(i) - - (964.18) (964.18) Adjustments for:
Dividend distribution tax on dividend(i) - - (199.98) (199.98) (Increase)/ Decrease in trade receivables 2,767.69 (1,423.71)
126 Balance at March 31, 2020 11,790.19 2,258.63 31,311.41 45,360.23 (Increase)/ Decrease in inventories (2,898.16) 1,960.17 127
Profit for the year - - 8,728.02 8,728.02 (Increase)/ Decrease in loans, financial assets and other assets (707.46) (1,382.88)
Remeasurement gain/(loss) on defined benefit obligation - - 30.79 30.79 Increase/ (Decrease) in trade payables 1,950.82 (2,625.58)
Impact of tax - - (7.74) (7.74) Increase/ (Decrease) in financial liabilities and other liabilities 747.94 93.74
Total comprehensive income - - 8,751.07 8,751.07 Cash generated from Operating Activities 16,229.79 7,747.84

ESG approach
Final dividend(i) - - (964.17) (964.17) Income Tax paid (net of refund) (2,988.51) (2,461.24)
Balance at March 31, 2021 11,790.19 2,258.63 39,098.31 53,147.13 A. NET CASH GENERATED/(USED IN) FROM OPERATING ACTIVITIES 13,241.28 5,286.60
Cash flow from Investing Activities
(i) Purchase of Property, plant and equipment including Capital WIP and Right of Use (2,277.95) (2,245.45)
 ividend paid during the year ended March 31, 2021 for the Financial Year 2019-20 is `1.70 per equity share of face value ` 2.00 each, fully paid up
D
(March 31, 2020: for the Financial Year 2018-19, `1.70 per equity share of face value `2.00 each, fully paid up). Purchase of intangible assets (1.66) -
Sale of Property, plant and equipment 6.62 2.25
The accompanying notes form an integral part of the standalone financial statements 1-51 Investment in Joint Venture - (300.00)
Purchase of investments in others - (21.76)
Sale of Investments 0.03 45.00
As per our report of even date attached
Interest received 79.28 8.21
For Singhi & Co. For and on behalf of the Board of Directors of B. NET CASH GENERATED/(USED IN) INVESTING ACTIVITIES (2,193.68) (2,511.75)

Statutory reports
Chartered Accountants Dollar Industries Limited
Firm Reg. No. 302049E CIN: L17299WB1993PLC058969

Shrenik Mehta Vinod Kumar Gupta Krishan Kumar Gupta

Partner Managing Director Whole Time Director
Membership No.: 063769 DIN: 00877949 DIN: 01982914

Place: Kolkata Ankit Gupta Abhishek Mishra

Date: May 29, 2021 Chief Financial Officer Company Secretary

Financial statements
Annual Report 2020-21
 Dollar Industries Limited

Who we are
Standalone Statement of Cash Flow Notes forming part of the Standalone Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

(` in Lacs)
1 CORPORATE AND GENERAL INFORMATION • the asset/liability is expected to be realized/settled in

Our performance
Year Ended Year Ended
Particulars the Company’s normal operating cycle;
March 31, 2021 March 31, 2020 Dollar Industries Limited (the Company), was incorporated
Cash flow from Financing Activities in India in the year 1993. The Company is domiciled in India, • the asset is intended for sale or consumption;
Proceeds from non-current borrowings 41.09 - and has its registered office in Om Towers, 32, J.L Nehru
• the asset/liability is held primarily for the purpose of
Repayments of non-current borrowings (141.40) (1,066.04) Road, Kolkata - 700 071.
trading;
(Repayments)/Proceeds from current borrowings (net) (8,541.12) (268.17)
Repayments of lease liabilities (422.24) (254.97) The Company is a Public Limited Company incorporated as • the asset/liability is expected to be realized/settled
Dividend paid (964.18) (964.18) per the provision of Companies Act applicable in India. The within twelve months after the reporting period;
Tax on dividend paid - (199.98) Company is primarily engaged in manufacture and sale of
• the asset is cash or cash equivalent unless it is restricted
Interest paid (911.88) (1,505.98) hosiery products in knitted inner wears, casual wears and
from being exchanged or used to settle a liability for at
C. NET CASH GENERATED/(USED IN) IN FINANCING ACTIVITIES (10,939.73) (4,259.32) thermal wears. It also has a Power Generation Unit sourced
least twelve months after the reporting date;

Strategic priorities
D. NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS (A+B+C) 107.87 (1,484.47) from Windmill and Solar. The shares of the Company are
Opening Cash and Cash Equivalents 589.00 2,073.47 listed on National Stock Exchange of India Limited and • in the case of a liability, the Company does not have an
Closing Cash and Cash Equivalents (Refer Note 17) 696.87 589.00 Bombay Stock Exchange. unconditional right to defer settlement of the liability for
at least twelve months after the reporting date.
Notes
2 BASIS OF ACCOUNTING The Company classifies all other assets and liabilities as
a) The above Statement of Cash Flow has been prepared under the ‘Indirect Method’ as set out in Ind AS 7, ‘Statement of Cash
non-current.
Flows’. 2.1 Statement of compliance
b) The composition of Cash and Cash Equivalent has been determined based on the Accounting Policy No. 3.8 These standalone financial statements have been prepared For the purpose of current/non-current classification of
128 in accordance with the Indian Accounting Standards (Ind assets and liabilities, the Company has ascertained its 129
c) Statement of Reconcialiation of Financing Activities
(` in Lacs) AS) as prescribed by Ministry of Corporate Affairs pursuant normal operating cycle as twelve months. This is based on
to Section 133 of the Companies Act, 2013 (the Act), read the nature of services and the time between the acquisition
Term Loan Short Term
Particulars
from Banks Borrowing with the Companies (Indian Accounting Standards) Rules, of assets or inventories for processing and their realization
2015 (as amended), other relevant provisions of the Act and in cash and cash equivalents.
Balances as at April 1, 2020 ( including interest accured thereon) 505.86 20,547.92
other accounting principles generally accepted in India.

ESG approach
Cash Flow (Net) (55.37) (8,541.12)
2.5 Use of estimates and judgements
Non Cash Changes - -
The financial statements of the Company for the year
Fair Value changes - - The preparation of financial statements require judgements,
ended March 31, 2021 have been approved by the Board
Others - - estimates and assumptions to be made that affect
of Directors in their meeting held on May 29, 2021.
Interest Expenses 45.13 782.89 the reported amount of assets and liabilities including
Interest Paid (42.31) (818.91) contingent liabilities on the date of the financial statements
2.2 Basis of measurement
Balances as at March 31, 2021 ( including interest accured thereon) 453.31 11,970.78 and the reported amount of revenues and expenses during
The financial statements have been prepared on historical the reporting period. Difference between actual results
d) Direct Taxes paid are treated as arising from operating activities and are not bifurcated between investing and financing activities. cost basis, except certain financial assets and liabilities and estimates are recognized in the period prospectively
(including derivative instruments) that is measured at fair in which the results are known/materialized.
See the accompanying notes forming part of the standalone financial statements 1-51 value/amortised cost.

Statutory Reports
3 SIGNIFICANT ACCOUNTING POLICIES
As per our report of even date attached 2.3 Functional and presentation currency
A summary of the significant accounting policies applied in
For Singhi & Co. For and on behalf of the Board of Directors of The financial statements have been presented in Indian
the preparation of the financial statements is as given below.
Chartered Accountants Dollar Industries Limited
Rupee (`), which is also the Company’s functional currency.
These accounting policies have been applied consistently
All financial information presented in ` has been rounded
Firm Reg. No. 302049E CIN: L17299WB1993PLC058969 to all the periods presented in the financial statements.
off to the nearest lakhs as per the requirements of Schedule
III, unless otherwise stated.
Shrenik Mehta Vinod Kumar Gupta Krishan Kumar Gupta 3.1 Property, Plant and Equipment
Partner Managing Director Whole Time Director
2.4 Current/Non-current classification a) Recognition and Measurement

Financial Statements
Membership No.: 063769 DIN: 00877949 DIN: 01982914
Property, plant and equipment held for use in the production
The Company presents assets and liabilities in the balance
or/and supply of goods or services, or for administrative
Place: Kolkata Ankit Gupta Abhishek Mishra sheet based on current/ non-current classification.
purposes, are stated in the balance sheet at cost, less any
Date: May 29, 2021 Chief Financial Officer Company Secretary
accumulated depreciation and accumulated impairment
The asset/liability is classified as current if it satisfies any
losses (if any).
of the following conditions:

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Standalone Financial Statements Notes forming part of the Standalone Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

Cost of an item of property, plant and equipment acquired the corresponding rates prescribed in Schedule II based on c) Amortization • M
 easured at Fair Value Through Profit or Loss (FVTPL);

Our performance
comprises its purchase price, including import duties and the estimated useful life of the project. • Intangible assets are amortized over a period of 3 years. and
non-refundable purchase taxes, after deducting any trade
Useful life estimated Useful life as per • The amortization period and the amortization method • Equity Instruments measured at Fair Value through Other
discounts and rebates, any directly attributable costs of Particulars
by the management schedule II are reviewed at least at the end of each financial year. Comprehensive Income (FVTOCI).
bringing the assets to its working condition and location for
Solar Plant 25 years - If the expected useful life of the assets is significantly
its intended use and present value of any estimated cost of Financial assets are not reclassified subsequent to their
different from previous estimates, the amortization
dismantling and removing the item and restoring the site on initial recognition, except if and in the period the Company
Depreciation on additions (disposals) during the year is period is revised accordingly.
which it is located. changes its business model for managing financial assets.
provided on a pro-rata basis i.e., from (up to) the date on
d) Disposal
which asset is ready for use (disposed off).
In case of self-constructed assets, cost includes the Gains or losses arising from the retirement or disposal of an Measured at Amortized Cost: A debt instrument is

costs of all materials used in construction, direct labour, intangible asset are determined as the difference between measured at the amortized cost if both the following
Depreciation method, useful lives and residual values
allocation of directly attributable overheads, directly the net disposal proceeds and the carrying amount of conditions are met:

Strategic priorities
are reviewed at each financial year-end and adjusted
attributable borrowing costs incurred in bringing the item the asset and recognised as income or expense in the
if appropriate. • T he asset is held within a business model whose
to working condition for its intended use, and estimated Statement of Profit & Loss.
objective is achieved by both collecting contractual cash
cost of dismantling and removing the item and restoring
d) Disposal of Assets flows; and
the site on which it is located. The costs of testing whether e) Intangible Assets under Development
An item of property, plant and equipment is derecognized
the asset is functioning properly, after deducting the net Intangible Assets under development is stated at cost which • T he contractual terms of the financial asset give rise on
upon disposal or when no future economic benefits are
proceeds from selling items produced while bringing the includes expenses incurred in connection with development specified dates to cash flows that are solely payments
expected to arise from the continued use of the asset.
asset to that location and condition are also added to the of Intangible Assets in so far as such expenses relate to the of principal and interest (SPPI) on the principal amount
Any gain or loss arising on the disposal or retirement of an
cost of self-constructed assets. period prior to the getting the assets ready for use. outstanding.
item of property, plant and equipment is determined as the
130 131
difference between net disposal proceeds and the carrying After initial measurement, such financial assets are
If significant parts of an item of property, plant and 3.3 Investment in Joint Ventures
amount of the asset and is recognized in the Statement of subsequently measured at amortized cost using the
equipment have different useful lives, they are accounted
Profit and Loss. Investments in joint venture is carried at cost less effective interest rate (EIR) method.
for as separate items (major components) of property, plant
accumulated impairment losses, if any. Where an indication
and equipment.
e) Capital Work in Progress of impairment exists, the carrying amount of investment  easured at FVTOCI: A debt instrument is measured at the
M

ESG approach
Capital work-in-progress is stated at cost which includes is assessed and an impairment provision is recognised, FVTOCI if both the following conditions are met:
b) Subsequent Expenditure
expenses incurred during construction period, interest if required immediately, to its recoverable amount. On
Subsequent costs are included in the asset’s carrying • The objective of the business model is achieved by both
on amount borrowed for acquisition of qualifying assets disposal of such investments, difference between the net
amount, only when it is probable that future economic collecting contractual cash flows and selling the financial
and other expenses incurred in connection with project disposal proceeds and carrying amount is recognised in the
benefits associated with the cost incurred will flow to the assets; and
implementation in so far as such expenses relate to the Statement of Profit and Loss.
Company and the cost of the item can be measured reliably.
period prior to the commencement of commercial production. • The asset’s contractual cash flows represent SPPI.
The carrying amount of any component accounted for as a
3.4 Financial Instruments
separate asset is derecognized when replaced.
3.2 Intangible Assets Debt instruments meeting these criteria are measured
A financial instrument is any contract that gives rise to a
initially at fair value plus transaction costs. They are
Major Inspection/ Repairs/ Overhauling expenses are Software which is not an integral part of related hardware financial asset of one entity and a financial liability or equity
subsequently measured at fair value with any gains or
recognized in the carrying amount of the item of property, is treated as intangible asset and are stated at cost on instrument of another entity.
losses arising on remeasurement recognized in other

Statutory Reports
plant and equipment as a replacement if the recognition initial recognition and subsequently measured at cost less
comprehensive income, except for impairment gains or
criteria are satisfied. Any unamortized part of the previously accumulated amortization and accumulated impairment a) Financial Assets
losses and foreign exchange gains or losses. Interest
recognized expenses of similar nature is derecognized. loss, if any. Recognition and Initial Measurement:
calculated using the effective interest method is recognized
All financial assets are initially recognized when the
in the Statement of Profit and Loss in investment income.
Advances paid towards the acquisition of property, a) Recognition and Measurement Company becomes a party to the contractual provisions of
plant and equipment outstanding at each balance sheet Intangible Assets are stated at acquisition cost, net of the instruments. A financial asset is initially measured at
 easured at FVTPL: FVTPL is a residual category for debt
M
date is classified as Capital Advances under other non- accumulated amortization and accumulated impairment fair value plus, in the case of financial assets not recorded
instruments. Any debt instrument, which does not meet
current assets. losses, if any. Intangible assets are amortised on a straight at fair value through profit or loss, transaction costs that
the criteria for categorization as amortized cost or as
line basis over their estimated useful economic lives. are attributable to the acquisition of the financial asset.
FVTOCI, is classified as FVTPL. In addition, the Company
c) Depreciation and Amortization

Financial Statements
may elect to designate a debt instrument, which otherwise
Depreciation is provided on written down method at the b) Subsequent Expenditure Classification and Subsequent Measurement:
meets amortized cost or FVTOCI criteria, as at FVTPL.
rates determined based on the useful lives of respective Subsequent costs are included in the asset’s carrying For purposes of subsequent measurement, financial assets
Debt instruments included within the FVTPL category are
assets as prescribed in the Schedule II of the Act. amount, only when it is probable that future economic are classified in four categories:
measured at fair value with all changes recognized in the
benefits associated with the cost incurred will flow to the
• Measured at Amortized Cost; Statement of Profit and Loss.
As per the Above policy, depreciation on the solar plant Company and the cost of the item can be measured reliably.
have been provided at the rate which are different from All other expenditure is recognized in the Statement of Profit • Measured at Fair Value Through Other Comprehensive
& Loss. Income (FVTOCI);

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Standalone Financial Statements Notes forming part of the Standalone Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

quity Instruments measured at FVTOCI: All equity

E measured at amortized cost using the effective interest 3.6 Income Tax 
Raw materials, consumables, and packing materials:

Our performance
investments in scope of Ind AS 109 are measured at fair rate method. Interest expense and foreign exchange gains Cost includes cost of purchase and other costs incurred
Income Tax comprises current and deferred tax. It is
value. Equity instruments which are, held for trading are and losses are recognized in profit or loss. Any gain or loss in bringing the inventories to their present location and
recognized in the Statement of Profit and Loss except to
classified as at FVTPL. For all other equity instruments, the on de-recognition is also recognized in Statement of Profit condition. Cost is determined on a weighted average.
the extent that it relates to an item recognized directly in
Company may make an irrevocable election to present in and Loss.
equity or in other comprehensive income.
other comprehensive income subsequent changes in the fair  ork-in-progress and Finished goods: Cost includes direct
W
value. The Company makes such election on an instrument- De-recognition materials and labour and a proportion of manufacturing
a) Current Tax
by-instrument basis. The classification is made on initial A financial liability is derecognized when the obligation overheads based on normal operating capacity. Cost of
Current tax liabilities (or assets) for the current and prior
recognition and is irrevocable. In case the Company decides under the liability is discharged or cancelled or expires. work-in-progress, (measured in Kgs) is determined on
periods are measured at the amount expected to be paid
to classify an equity instrument as at FVTOCI, then all fair weighted average basis and cost of work-in-progress
to (recovered from) the taxation authorities using the tax
value changes on the instrument, excluding dividends, are Offsetting financial instruments (measured in Pieces) is determined on retail sales price
rates (and tax laws) that have been enacted or substantively
recognized in the OCI. There is no recycling of the amounts Financial assets and liabilities are offset and the net method. Cost of finished goods is determined on retail sales

Strategic priorities
enacted, at the end of the reporting period.
from OCI to P&L, even on sale of investment. amount reported in the balance sheet when there is a price method.
legally enforceable right to offset the recognized amounts
b) Deferred Tax
Derecognition and there is an intention to settle on a net basis or realize Net realizable value is the estimated selling price in the
Deferred Tax assets and liabilities shall be measured at
The Company derecognizes a financial asset on trade date the asset and settle the liability simultaneously. The legally ordinary course of business, less estimated costs of
the tax rates that are expected to apply to the period when
only when the contractual rights to the cash flows from the enforceable right must not be contingent on future events completion and estimated costs necessary to make
the asset is realized or the liability is settled based on tax
asset expire, or when it transfers the financial asset and and must be enforceable in the normal course of business the sale.
rates (and tax laws) that have been enacted or substantively
substantially all the risks and rewards of ownership of the and in the event of default, insolvency or bankruptcy of
enacted by the end of the reporting period.
asset to another entity. the counterparty. 3.8 Cash and Cash Equivalents
132 133
Deferred tax is recognized in respect of temporary Cash and cash equivalents in the balance sheet comprise
Impairment of Financial Assets c) Derivative financial instruments
differences between the carrying amounts of assets cash at banks and on hand and short term deposits with an
The Company assesses at each date of balance sheet The Company enters into derivative financial instruments
and liabilities for financial reporting purposes and the original maturity of three months or less, which are subject
whether a financial asset or a group of financial assets viz. foreign exchange forward contracts to manage its
corresponding amounts used for taxation purposes (i.e., to an insignificant risk of change in value.
is impaired. Ind AS 109 requires expected credit losses exposure to interest rate and foreign exchange rate risks.
tax base). Deferred tax is also recognized for carry forward
to be measured through a loss allowance. The Company The Company does not hold derivative financial instruments

ESG approach
of unused tax losses and unused tax credits. 3.9 Provisions, Contingent Liabilities and Contingent
recognizes lifetime expected losses for all contract for speculative purposes.
Assets
assets and/ or all trade receivables that do not constitute
Deferred tax assets are recognized to the extent that it is
a financing transaction. For all other financial assets, Derivatives are initially recognised at fair value at the a) Provisions
probable that taxable profit will be available against which
expected credit losses are measured at an amount equal date the derivative contracts are entered into and are Provisions are recognized when there is a present obligation
the deductible temporary differences, and the carry forward
to the 12 month expected credit losses or at an amount subsequently remeasured to their fair value at the end (legal or constructive) as a result of a past event and it
of unused tax credits and unused tax losses can be utilized.
equal to the life time expected credit losses if the credit of each reporting period. The resulting gain or loss is is probable that an outflow of resources embodying
risk on the financial asset has increased significantly since recognized in profit or loss immediately. economic benefits will be required to settle the obligation
The carrying amount of deferred tax assets is reviewed at
initial recognition. and a reliable estimate can be made of the amount of the
the end of each reporting period. The Company reduces the
3.5 Impairment of Non-Financial Assets obligation. Provisions are determined by discounting the
carrying amount of a deferred tax asset to the extent that
b) Financial Liabilities expected future cash flows (representing the best estimate
The Company assesses, at each reporting date, whether it is no longer probable that sufficient taxable profit will be

Statutory Reports
Recognition and Initial Measurement of the expenditure required to settle the present obligation
there is an indication that an asset may be impaired. An available to allow the benefit of part or that entire deferred
Financial liabilities are classified, at initial recognition, at the balance sheet date) at a pre-tax rate that reflects
asset is treated as impaired when the carrying cost of the tax asset to be utilized. Any such reduction is reversed to
as fair value through profit or loss, loans and borrowings, current market assessments of the time value of money
asset exceeds its recoverable value being higher of value the extent that it becomes probable that sufficient taxable
payables or as derivatives, as appropriate. All financial and the risks specific to the liability. The unwinding of the
in use and net selling price. Value in use is computed at profit will be available.
liabilities are recognized initially at fair value and, in the discount is recognized as finance cost.
net present value of cash flow expected over the balance
case of loans and borrowings and payables, net of directly
useful lives of the assets. For the purpose of assessing Deferred tax relating to items recognized outside the
attributable transaction costs. b) Onerous Contracts
impairment, assets are grouped at the lowest levels for Statement of Profit and Loss is recognized either in other
Present obligations arising under onerous contracts are
which there are separately identifiable cash inflows which comprehensive income or in equity. Deferred tax items
Subsequent Measurement recognized and measured as provisions. An onerous
are largely independent of the cash inflows from other are recognized in correlation to the underlying transaction
Financial liabilities are measured subsequently at amortized contract is considered to exist when a contract under which

Financial Statements
assets or group of assets (Cash Generating Units – CGU). either in OCI or directly in equity.
cost or FVTPL. A financial liability is classified as FVTPL if it the unavoidable costs of meeting the obligations exceed the
is classified as held-for-trading, or it is a derivative or it is economic benefits expected to be received from it.
An impairment loss is recognized as an expense in the 3.7 Inventories
designated as such on initial recognition. Financial liabilities
Statement of Profit and Loss in the year in which an asset
at FVTPL are measured at fair value and net gains and Inventories are valued at Cost or Net Realizable Value, c) Contingent Liabilities
is identified as impaired. The impairment loss recognized in
losses, including any interest expense, are recognized in whichever is lower. Costs incurred in bringing each product Contingent liability is a possible obligation arising from past
earlier accounting period is reversed if there has been an
profit or loss. Other financial liabilities are subsequently to its present location and condition are as follows: events and the existence of which will be confirmed only by
improvement in recoverable amount.
the occurrence or non-occurrence of one or more uncertain

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Standalone Financial Statements Notes forming part of the Standalone Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

future events not wholly within the control of the Company b) Sale of Services The Company recognises right-of-use asset representing in the measurement of the lease liability, the Company

Our performance
or a present obligation that arises from past events but is In contracts involving the rendering of services, revenue is its right to use the underlying asset for the lease term at recognises any remaining amount of the re-measurement
not recognized because it is not possible that an outflow of measured using the completed service method. the lease commencement date. The cost of the right-of- in statement of profit and loss.
resources embodying economic benefit will be required to use asset measured at inception shall comprise of the
settle the obligations or reliable estimate of the amount of c) Other Operating Revenue amount of the initial measurement of the lease liability The Company has elected not to apply the requirements of
the obligations cannot be made. The Company discloses Export incentive and subsidies are recognized when there adjusted for any lease payments made at or before the Ind AS 116 Leases to short-term leases of all assets that
the existence of contingent liabilities in other Notes to is reasonable assurance that the Company will comply with commencement date less any lease incentives received, have a lease term of 12 months or less and leases for which
Financial Statements. the conditions and the incentive will be received. Insurance plus any initial direct costs incurred and an estimate the underlying asset is of low value. The lease payments
& other claims, where quantum of accruals cannot be of costs to be incurred by the lessee in dismantling and associated with these leases are recognised as an expense
d) Contingent Assets ascertained with reasonable certainty are recognized removing the underlying asset or restoring the underlying on a straight-line basis over the lease term.
Contingent assets usually arise from unplanned or other as income only when revenue is virtually certain which asset or site on which it is located. The right-of-use assets
unexpected events that give rise to the possibility of an generally coincides with receipt/acceptance. is subsequently measured at cost less any accumulated Lease liability and ROU asset have been disclosed

Strategic priorities
inflow of economic benefits. Contingent Assets are not depreciation, accumulated impairment losses, if any and separately on the face of the Balance Sheet and lease
recognized though are disclosed, where an inflow of d) Interest Income adjusted for any remeasurement of the lease liability. The payments have been classified as financing cash flows.
economic benefits is probable. For all financial instruments measured at amortized cost, right-of-use assets is depreciated using the straight-line
Interest income is recorded using the effective interest rate method from the commencement date over the lease term Company as a lessor
3.10 Revenue Recognition (EIR). EIR is the rate that exactly discounts the estimated or useful life of right-of-use asset. At the inception of the lease the Company classifies each
future cash receipts over the expected lift of the financial of its leases as either an operating lease or a finance lease.
Revenue is recognized to the extent that it is probable that
instrument or a shorter period, where appropriate, to the The estimated useful lives of right-of-use assets are The Company recognises lease payments received under
the economic benefits will flow to the Company and the
gross carrying amount of the financial asset. determined on the same basis as those of property, operating leases as income on a straight- line basis over
revenue can be reliably measured, regardless of when the
134 plant and equipment. Right-of-use assets are tested for the lease term. In case of a finance lease, finance income 135
payment is being made. Revenue is measured at the fair
e) Dividend Income impairment whenever there is any indication that their is recognised over the lease term based on a pattern
value of the consideration received or receivable, taking
Dividend Income from investments is recognized when the carrying amounts may not be recoverable. Impairment loss, reflecting a constant periodic rate of return on the lessor’s
into account contractually defined terms of payment
Company’s right to receive payment has been established. if any, is recognised in the statement of profit and loss. net investment in the lease. When the Company is an
and excluding taxes or duties collected on behalf of
intermediate lessor it accounts for its interests in the head
the Government.
3.11 Government Grants The Company measures the lease liability at the present lease and the sub-lease separately. It assesses the lease

ESG approach
value of the lease payments that are not paid at the classification of a sub-lease with reference to the right-of-
a) Sale of Goods Government grants are recognized at their fair values
commencement date of the lease. The lease payments are use asset arising from the head lease, not with reference to
Sale of goods is recognised at the point in time when control when there is reasonable assurance that the grants will be
discounted using the interest rate implicit in the lease, if that the underlying asset. If a head lease is a short term lease to
of the goods is transferred to the customer. The revenue is received and the Company will comply with all the attached
rate can be readily determined. If that rate cannot be readily which the Company applies the exemption described above,
measured on the basis of the consideration defined in the conditions. When the grant relates to an expense item, it
determined, the Company uses incremental borrowing then it classifies the sub-lease as an operating lease. If an
contract with a customer, including variable consideration, is recognized as income on a systematic basis over the
rate. For leases with reasonably similar characteristics, arrangement contains lease and non-lease components,
such as discounts, volume rebates, or other contractual periods that the related costs, for which it is intended to
the Company, on a lease by lease basis, may adopt either the Company applies Ind AS 115 Revenue from contracts
reductions. As the period between the date on which the compensate, are expensed. Grants related to purchase
the incremental borrowing rate specific to the lease or the with customers to allocate the consideration in the contract.
Company transfers the promised goods to the customer of property, plant and equipment are included in non-
incremental borrowing rate for the portfolio as a whole.
and the date on which the customer pays for these goods financial liabilities as deferred income and are credited to
The lease payments shall include fixed payments, variable 3.13 Foreign Currency Transactions
is generally one year or less, no financing components are the Statement Profit and Loss on a straight line basis over

Statutory Reports
lease payments, residual value guarantees, exercise price
taken into account. the expected useful life of the related asset and presented The financial statements of the Company are presented
of a purchase option where the Company is reasonably
within other operating revenue. in Indian Rupees (`) which is the functional currency
certain to exercise that option and payments of penalties
Certain contracts provide a customer with a right to return of the Company and the presentation currency of the
for terminating the lease, if the lease term reflects the
the goods within a specified period. The company uses the 3.12 Leases financial statements.
lessee exercising an option to terminate the lease. The
expected value method to estimate the goods that will not
A contract is, or contains, a lease if the contract conveys the lease liability is subsequently remeasured by increasing
be returned because this method best predicts the amount Foreign currency transactions are translated into the
right to control the use of an identified asset for a period in the carrying amount to reflect interest on the lease liability,
of variable consideration to which the company will be functional currency using the spot rates of exchanges
exchange for consideration. reducing the carrying amount to reflect the lease payments
entitled. The requirements in Ind AS 115 on constraining at the dates of the transactions. Monetary assets and
made and re-measuring the carrying amount to reflect any
estimates of variable consideration are also applied in liabilities denominated in foreign currencies are translated
Company as a lessee reassessment or lease modifications or to reflect revised in-

Financial Statements
order to determine the amount of variable consideration at the functional currency spot rate of exchanges at the
The Company accounts for each lease component substance fixed lease payments. The Company recognises
that can be included in the transaction price for goods reporting date.
within the contract as a lease separately from non-lease the amount of the re-measurement of lease liability due to
that are expected to be returned instead of revenue the
components of the contract and allocates the consideration modification as an adjustment to the right-of-use asset and
Company recognises a refund liability. A right of return Foreign exchange gains and losses resulting from the
in the contract to each lease component on the basis of the statement of profit and loss depending upon the nature of
asset and corresponding adjustment to change in inventory settlement of such transactions and from the translation
relative stand-alone price of the lease component and the modification. Where the carrying amount of the right-of-use
is also recognised for the right to recover products from of monetary assets and liabilities are generally recognized
aggregate stand-alone price of the non-lease components. asset is reduced to zero and there is a further reduction
a customer. in Statement of Profit and Loss in the year in which they

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Standalone Financial Statements Notes forming part of the Standalone Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

arise except for exchange differences on foreign currency ceiling, are recognized in other comprehensive income. • In the absence of a principal market, in the most 3.19 New Standards / Amendments to Existing Standard

Our performance
borrowings relating to assets under construction for future Remeasurement recognized in other comprehensive advantageous market for the asset or liability. issued but not yet effective up to the date of issuance
productive use, which are included in the cost of those income is reflected immediately in retained earnings and of the Company’s Financial Statement:
The principal or the most advantageous market must be
qualifying assets when they are regarded as an adjustment will not be reclassified to the Statement of Profit and Loss.
accessible by the Company. The fair value of an asset or Accounting policies have been consistently applied except
to interest costs on those foreign currency borrowings, the
a liability is measured using the assumptions that market where a newly issued accounting standard is initially
balance is presented in the Statement of Profit and Loss Defined Contribution Plan
participants would use when pricing the asset or liability, adopted or a revision to an existing accounting standard
within finance costs. Defined contribution plans such as provident fund, ESI etc.
assuming that market participants act in their economic requires a change in the accounting policy hitherto in use.
are charged to the Statement of Profit and Loss as and
best interest. A fair value measurement of a non-financial Ministry of Corporate Affairs on July 24, 2020 notified the
Non-monetary items are not retranslated at period end when incurred.
asset takes into account a market participant’s ability to Companies (Indian Accounting Standards) Amendment
and are measured at historical cost (translated using the
generate economic benefits by using the asset in its highest Rules, 2020, thereby amending the Rules of 2015. The
exchange rate at the transaction date). 3.15 Borrowing Cost
and best use or by selling it to another market participant amendment introduces following changes to the Rules:

Strategic priorities
Borrowing Costs consists of interest and other costs that that would use the asset in its highest and best use.
3.14 Employee Benefits • IND AS 103- Business Combination: Have defined
an entity incurs in connection with the borrowings of funds.
“business” in more detail, an optional test to identify
a) Short Term Benefits Borrowing costs also include exchange difference to the The Company uses valuation techniques that are
concentration of fair value, element of Businesses and
Short term employee benefit obligations are measured on extent regarded as an adjustment to the borrowing costs. appropriate in the circumstances and for which sufficient
Assessing whether an acquired process is substantive.
an undiscounted basis and are expensed as the related data are available to measure fair value, maximising the
services are provided. Liabilities for wages and salaries, Borrowing costs directly attributable to the acquisition or use of relevant observable inputs and minimising the use • IND AS 107 - Disclosures to be made in respect of
including non-monetary benefits that are expected to be construction of a qualifying asset are capitalized as a part of unobservable inputs. financial instruments: Introducing a provision specifying
settled wholly within twelve months after the end of the of the cost of that asset that necessarily takes a substantial the disclosures to be made where there is uncertainty
period in which the employees render the related service period of time to complete and prepare the asset for its All assets and liabilities for which fair value is measured or due to Interest Rate Benchmark Reform.
136 137
are recognized in respect of employees’ services up to the intended use or sale. The Company considers a period of disclosed in the financial statements are categorised within
• IND AS 109 - Financial reporting of financial assets
end of the reporting period. twelve months or more as a substantial period of time. the fair value hierarchy, described as follows, based on the
and financial liabilities: Providing detailed provisions
input that is significant to the fair value measurement as
for temporary exceptions from applying specific hedge
b) Post-Employment Benefits Transaction costs in respect of long term borrowing are a whole:
accounting requirements and transition for hedge
The Company operates the following post- amortized over the tenure of respective loans using
• Level 1 — Quoted (unadjusted) market prices in active accounting.

ESG approach
employment schemes: Effective Interest Rate (EIR) method. All other borrowing
markets for identical assets or liabilities
costs are recognized in the Statement of Profit and Loss in • IND AS 116 -Accounting for Leases: Related Rent
Defined Benefit Plans the period in which they are incurred. • Level 2 — Inputs other than quoted prices included within concession- a clarification has been provided on
The liability or asset recognized in the Balance Sheet in Level 1, that are observable for the asset or liability, accounting of Rent concessions, whether to treat as a
respect of defined benefit plans is the present value of 3.16 Cash Flow Statement either directly or indirectly; and lease modifications or not.
the defined benefit obligation at the end of the reporting
Cash flows are reported using the indirect method, whereby • Level 3 — Inputs which are unobservable inputs for the • IND AS 1 & 8 - Presentation of Financial Statements and
period less the fair value of plan assets. The Company’s net
profit for the period is adjusted for the effects of transactions asset or liability. Accounting Policies, Changes in Accounting Estimates
obligation in respect of defined benefit plans is calculated
of a non-cash nature, any deferrals or accruals of past or and Errors: Changes have been made to the definition of
separately for each plan by estimating the amount of future
future operating cash receipts or payments and item of External valuers are involved for valuation of significant ‘material’ in relation to material information.
benefit that employees have earned in the current and prior
income or expenses associated with investing or financing assets & liabilities. Involvement of external valuers is
periods. The defined benefit obligation is calculated annually • IND AS 10 - Events after the Reporting Period: Apart

Statutory Reports
cash flows. The cash flows from operating, investing and decided by the management of the Company considering
by Actuaries using the projected unit credit method. from disclosure of non-adjusting event, the disclosure of
financing activities of the Company are segregated. the requirements of Ind AS and selection criteria include
an estimate of its financial effect should be made, or a
market knowledge, reputation, independence and whether
The liability recognized for defined benefit plans is the statement that such an estimate cannot be made.
3.17 Measurement of Fair Values professional standards are maintained.
present value of the defined benefit obligation at the
• IND AS 37 -Provisions, Contingent Liabilities and
reporting date less the fair value of plan assets, together A number of the Company’s accounting policies and
3.18 Operating Segment Contingent Assets: Clarification on accounting for
with adjustments for unrecognized actuarial gains or losses disclosures require the measurement of fair values, for both
restructuring plans.
and past service costs. The net interest cost is calculated by financial and non-financial assets and liabilities. The Company’s business activity falls within a single
applying the discount rate to the net balance of the defined significant primary business segment i.e. ‘hosiery and The amendments listed above did not have any impact
benefit obligation and the fair value of plan assets. The Fair value is the price that would be received to sell an related service’. They are reviewed regularly by the chief on the amounts recognized in current period and are not

Financial Statements
benefits are discounted using the government securities asset or paid to transfer a liability in an orderly transaction operating decision maker to make decisions about expected to significantly affect the future periods.
(G-Sec) at the end of the reporting period that have terms between market participants at the measurement date. The resources to be allocated to the segments and assess
approximating to the terms of related obligation. fair value measurement is based on the presumption that their performance. Ministry of Corporate Affairs notifies new standard or
the transaction to sell the asset or transfer the liability takes amendments to the existing standards. During the year, no
Remeasurement of the net defined benefit obligation, place either: new standard or modifications in existing standards has
which comprise actuarial gains and losses, the return on been notified which will be applicable from April 1,2021
• In the principal market for the asset or liability, or
plan assets (excluding interest) and the effect of the asset or thereafter.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Standalone Financial Statements Notes forming part of the Standalone Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

3.20 Earnings per share d) Defined Benefit Obligation (DBO): Employee benefit 5 PROPERTY, PLANT AND EQUIPMENT

Our performance
obligations are measured on the basis of actuarial
Basic earnings per share is computed by dividing profit The changes in the carrying value of property, plant and equipment for the year ended March 31, 2021 were as follows:
assumptions which include mortality and withdrawal rates
or loss for the year attributable to equity holders by the (` in Lacs)
as well as assumptions concerning future developments in
weighted average number of shares outstanding during
discount rates, medical cost trends, anticipation of future Gross carrying amount Accumulated depreciation Net
the year. Partly paid up shares are included as fully paid carrying
salary increases and the inflation rate. The Company
equivalents according to the fraction paid up. As at As at As at As at amount
considers that the assumptions used to measure its Particulars
April 1,
Addition/ Deletion/
March 31, April 1,
Charge for Deduction/
March 31, as at
obligations are appropriate. However, any changes in Adjustment Adjustment the year Adjustment March 31,
2020 2021 2020 2021
Diluted earnings per share is computed using the weighted 2021
these assumptions may have a material impact on the
average number of shares and dilutive potential shares
resulting calculations. Freehold land 471.92 63.14 - 535.06 - - - - 535.06
except where the result would be anti-dilutive.
Buildings 2,486.06 20.76 - 2,506.82 797.55 160.92 - 958.47 1,548.35
Provisions and Contingencies: The assessments
e) 

Strategic priorities
Plant and machinery 6,338.55 1,888.88 (13.53) 8,213.90 2,897.00 737.31 (6.55) 3,627.76 4,586.14
undertaken in recognising provisions and contingencies
4 SIGNIFICANT JUDGEMENTS AND KEY SOURCES Electrical installations 282.88 - - 282.88 165.78 29.13 - 194.91 87.97
have been made in accordance with Indian Accounting
OF ESTIMATION IN APPLYING ACCOUNTING and equipment
Standards (Ind AS) 37, ‘Provisions, Contingent Liabilities
POLICIES Furniture and fittings 546.25 95.32 (0.03) 641.54 256.59 86.52 - 343.11 298.43
and Contingent Assets’. The evaluation of the likelihood
Motor vehicles 331.36 77.14 (4.35) 404.15 202.12 39.68 (3.31) 238.49 165.66
Information about significant judgements and key sources of the contingent events is applied best judgement by
Windmill 1,197.67 - - 1,197.67 486.93 90.51 - 577.44 620.23
of estimation made in applying accounting policies that have management regarding the probability of exposure to
Laboratory equipment 45.51 0.12 - 45.63 29.96 4.04 - 34.00 11.63
the most significant effects on the amounts recognized in potential loss.
Computers 102.35 16.47 (0.34) 118.48 77.96 12.01 (0.17) 89.80 28.68
the financial statements is included in the following notes:
f) Impairment of Financial Assets: The Company reviews Total 11,802.55 2,161.83 (18.25) 13,946.13 4,913.89 1,160.12 (10.03) 6,063.98 7,882.15
138 a) Revenue recognition: Revenue is recognised upon its carrying value of investments carried at amortized cost 139
transfer of control of promised products or services to annually, or more frequently when there is indication of
The changes in the carrying value of property, plant and equipment for the year ended March 31, 2020 were as follows:
customers in an amount that reflects the consideration impairment. If recoverable amount is less than its carrying
which the Company expects to receive in exchange for amount, the impairment loss is accounted for. (` in Lacs)
those products or services. Revenue is measured based on Gross carrying amount Accumulated depreciation
Allowances for Doubtful Debts: The Company makes
g)  Net carrying
the transaction price, which is the consideration, adjusted

ESG approach
amount
allowances for doubtful debts through appropriate As at As at As at As at
for volume discounts, price concessions and incentives, Particulars Addition/ Deletion/ Charge for Deduction/ as at
estimations of irrecoverable amount. The identification of April 1,
Adjustment Adjustment
March 31, April 1,
the year Adjustment
March 31, March 31,
if any, as specified in the contract with the customer. The 2019 2020 2019 2020
doubtful debts requires use of judgment and estimates. 2020
Company exercises judgment in determining whether the
Where the expectation is different from the original estimate,
performance obligation is satisfied at a point in time or over Freehold land 471.92 - - 471.92 - - - - 471.92
such difference will impact the carrying value of the trade
a period of time. The Company considers indicators such as Buildings 2,443.82 42.24 - 2,486.06 623.45 174.10 - 797.55 1,688.51
and other receivables and doubtful debts expenses in the
how customer consumes benefits as services are rendered Plant and machinery 5,621.85 716.70 - 6,338.55 2,187.30 709.70 - 2,897.00 3,441.55
period in which such estimate has been changed.
or who controls the asset as it is being created or existence Electrical installations and 242.07 40.81 - 282.88 131.65 34.13 - 165.78 117.10
of enforceable right to payment for performance to date h) Fair value measurement of financial instruments: When equipment
and alternate use of such product or service, transfer of the fair values of financial assets and financial liabilities Furniture and fittings 393.62 153.77 (1.14) 546.25 185.56 71.21 (0.18) 256.59 289.66
significant risks and rewards to the customer, acceptance recorded in the balance sheet cannot be measured Motor vehicles 285.78 52.55 (6.97) 331.36 162.87 45.89 (6.64) 202.12 129.24

Statutory Reports
of delivery by the customer, etc. based on quoted prices in active markets, their fair value Windmill 1,181.67 16.00 - 1,197.67 383.80 103.13 - 486.93 710.74
is measured using valuation techniques including the Laboratory equipment 44.61 0.90 - 45.51 24.64 5.32 - 29.96 15.55
b) Recognition of Deferred Tax Assets: The extent to which
Discounted Cash Flow model. The input to these models Computers 82.75 19.60 - 102.35 59.55 18.41 - 77.96 24.39
deferred tax assets can be recognized is based on an
are taken from observable markets where possible, but Total 10,768.09 1,042.57 (8.11) 11,802.55 3,758.82 1,161.89 (6.82) 4,913.89 6,888.66
assessment of the probability of the Company’s future
where this not feasible, a degree of judgement is required in
taxable income against which the deferred tax assets can
establishing fair values. Judgements include considerations Refer Note 21 for hypothecation of property, plant and equipment against borrowing.
be utilized. In addition, significant judgement is required in
of inputs such as liquidity risk, credit risk and volatility.
assessing the impact of any legal or economic limits.
i) Extension and termination option in leases : Extension 6 CAPITAL WORK-IN-PROGRESS
c) Useful lives of depreciable/ amortisable assets (tangible (` in Lacs)
and termination options are included in many of the leases.
and intangible): Management reviews its estimate of

Financial Statements
In determining the lease term the Management considers Particulars
As at As at
the useful lives of depreciable/ amortisable assets at March 31, 2021 March 31, 2020
all facts and circumstances that create an economic
each reporting date, based on the expected utility of the Capital work-in-progress 1,466.60 1,405.47
incentive to exercise an extension option, or not exercise
assets. Uncertainties in these estimates relate to actual
a termination option. This assessment is reviewed if a
normal wear and tear that may change the utility of plant Refer Note 13 for capital advances.
significant event or a significant change in circumstances
and equipment.
occurs which affects this assessment and that is within the
control of the Company.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Standalone Financial Statements Notes forming part of the Standalone Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

7 RIGHT OF USE ASSETS 9 INVESTMENT IN JOINT VENTURE

Our performance
(` in Lacs)
The changes in the carrying value of Right of use assets for the year ended March 31, 2021 were as follows: As at As at
(` in Lacs) Particulars
March 31, 2021 March 31, 2020
Gross carrying amount Accumulated depreciation Net Investment in equity shares at cost (unquoted)
carrying
amount 1) PEPE Jeans Innerfashion Private Limited (1,00,00,000 equity shares 1,000.00 1,000.00
Particulars As at As at As at As at
April 1,
Addition/ Deletion/
March 31, April 1,
Charge for Deduction/
March 31, as at (March 31, 2020: 1,00,00,000 equity shares) of FV `10 each)
Adjustment Adjustment the year Adjustment
2020 2021 2020 2021 March 31, 1,000.00 1,000.00
2021
Aggregate amount of unquoted investments 1,000.00 1,000.00
Buildings 792.23 428.44 - 1,220.67 252.59 384.68 - 637.27 583.40
Leasehold Land - 55.00 - 55.00 - 0.17 - 0.17 54.83 9.1 The company holds 50% of the share capital in the Joint Venture Company.
Total 792.23 483.44 - 1,275.67 252.59 384.85 - 637.44 638.23

Strategic priorities
10 INVESTMENTS
The changes in the carrying value of Right of use assets for the year ended March 31, 2020 were as follows: (` in Lacs)
(` in Lacs) As at As at
Particulars
Gross carrying amount Accumulated amortization Net carrying March 31, 2021 March 31, 2020
amount Investment in equity shares (unquoted)
Particulars As at As at As at As at as at
Addition/ Deletion/ Charge for Deduction/ 1) Ind-Barath Power Gencom Limited 29.94 29.94
April 1, March 31, April 1, March 31, March 31,
Adjustment Adjustment the year Adjustment (2,99,364 shares (March 31, 2020: 2,99,364 shares) of FV `10 each)
2019 2020 2019 2020 2020
2) Suryadev Alloys and Power Private Limited 0.34 0.34
Buildings 792.23 - - 792.23 - 252.59 - 252.59 539.64
(250 shares (March 31, 2020: 250 shares) of FV `10 each)
Total 792.23 - - 792.23 - 252.59 - 252.59 539.64
140 3) Bahadurgarh Footwear Development Services Private Limited 10.00 10.00 141
Refer Note 42 for Right of use assets. (20 shares (March 31, 2020: 20 shares) of FV `50,000 each)
4) Vijayanth Developers Private Limited - 0.04
(Nil (March 31, 2020: 329 shares) of FV `10 each)
8 INTANGIBLE ASSETS 5) Arkay Energy (Rameswaram) Limited 21.72 21.72
The changes in the carrying value of acquired intangible assets for the year ended March 31, 2021 were as follows: (2,17,252 shares (March 31, 2020: 2,17,252 shares) of FV `10 each)

ESG approach
62.00 62.04
(` in Lacs)
Aggregate amount of unquoted investments 62.00 62.04
Gross carrying amount Accumulated amortization Net
carrying
Particulars As at As at As at As at amount 10.1 The Company has invested in shares of Ind-Barath Power Gencom Limited, Suryadev Alloys and Power Private Limited, Vijayanth
Addition/ Deletion/ Charge for Deduction/ as at
April 1,
Adjustment Adjustment
March 31, April 1,
the year Adjustment
March 31, Developers Private Limited and Arkay Energy (Rameswaram) Limited for procurement of power towards captive consumption
2020 2021 2020 2021 March 31,
2021 in Tirupur unit. The management anticipates that the termination of contract in future (if any) would be at cost i.e. the amount
invested. Since the investment has been made only for consuming the power and not for any financial reasons, hence the
Software 33.98 1.66 - 35.64 29.86 2.10 - 31.96 3.68
same is valued at cost, deemed to be at fair value. During the year, 329 equity shares of Vijayanth Developers Private Limited
Total 33.98 1.66 - 35.64 29.86 2.10 - 31.96 3.68
were sold.
The changes in the carrying value of acquired intangible assets for the year ended March 31, 2020 were as follows:

Statutory Reports
10.2 The Company has invested in shares of Bahadurgarh Footwear Development Services Private Limited in FY 2018-19 to
(` in Lacs) procure land.
Gross carrying amount Accumulated amortization Net carrying
amount 11 LOANS
Particulars As at As at As at As at as at
Addition/ Deletion/ Charge for Deduction/ (` in Lacs)
April 1, March 31, April 1, March 31, March 31,
Adjustment Adjustment the year Adjustment
2019 2020 2019 2020 2020 As at As at
Particulars
March 31, 2021 March 31, 2020
Software 33.98 - - 33.98 23.09 6.77 - 29.86 4.12
Non-current
Total 33.98 - - 33.98 23.09 6.77 - 29.86 4.12
(Unsecured, considered good)
Security deposits 77.45 71.99

Financial Statements
77.45 71.99
Current
(Unsecured, considered good)
Security deposits 37.17 34.29
37.17 34.29

11.1 There are no outstanding debts from directors or officers of the Company.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Standalone Financial Statements Notes forming part of the Standalone Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

12 OTHER FINANCIAL ASSETS Reconciliation of estimated Income tax expense at Indian statutory Income tax rate to income tax expense reported in

Our performance
(` in Lacs) Statement of Profit and Loss
As at As at (` in Lacs)
Particulars
March 31, 2021 March 31, 2020 Year ended Year ended
Particulars
Non-current March 31, 2021 March 31, 2020
(Unsecured, considered good) Accounting profit before income tax 11,730.61 7,978.89
Utility Deposits 216.52 262.29 Indian statutory income tax rate 25.168% 25.168%
216.52 262.29 Estimated income tax expenses 2,952.36 2,008.13
Current Tax effect on:
(Unsecured, considered good) Temporary items non-deductible 1.15 1.48
Other financial assets 292.30 153.08 Permanent items non-deductible 49.08 23.90
292.30 153.08 Total 3,002.59 2,033.51

Strategic priorities
Income tax expenses in the Statement of Profit and Loss 3,002.59 2,033.51
12.1 Other financial assets include advances against salary to employees and provision for Mark to Market income on forward
booking of contracts. B Tax assets and liabilities
(` in Lacs)
As at As at
13 OTHER ASSETS Particulars
March 31, 2021 March 31, 2020
(` in Lacs)
Advance tax paid and Tax deducted at source 3,236.39 2,413.32
As at As at
Particulars Less: Provision for income tax (2,988.23) (2,154.07)
March 31, 2021 March 31, 2020
142 Net tax assets/(liabilities) 248.16 259.25 143
Non-current
Capital Advances 141.00 50.23
Other non-current tax assets (Refer (i) below) 213.47 202.10
Prepaid expenses 6.00 5.60
147.00 55.83
Total non-current tax assets 461.63 461.35
Current

ESG approach
Balances with Government and statutory authorities 3,881.66 3,128.58
Incentives and subsidies receivable i) Other non-current tax assets relate to income tax receivables and amounts paid under protest in respect of demands
Unsecured, considered good 239.22 480.95
and claims from regulatory authorities.
Unsecured, considered doubtful 8.97 -
C Deferred tax assets and liabilities
Less: Allowance for expected credit losses (8.97) - (` in Lacs)
239.22 480.95
As at As at
Advances against supply of goods and services 233.17 313.17 Particulars
March 31, 2021 March 31, 2020
Prepaid expenses 106.61 76.82 Deferred tax liabilities
Others (Unsecured, considered good) 259.06 188.42 Depreciation and amortization 179.35 77.22
4,719.72 4,187.94 179.35 77.22

Statutory Reports
Deferred tax assets
13.1 Balances with Government and statutory authorities include input credit entitlements and other indirect taxes receivable. Retirement benefits 150.49 121.22
Others 138.16 87.41
13.2 Others include amounts claimed from parties on account of business obligations. 288.65 208.63
Deferred tax assets/(liabilities) 109.30 131.41
14 INCOME TAXES
A Components of Income tax expense
(` in Lacs)
Year ended Year ended
Particulars
March 31, 2021 March 31, 2020

Financial Statements
Income tax recognised in Statement of Profit and Loss
Current tax 2,988.23 2,154.07
Deferred tax 14.36 (120.56)
3,002.59 2,033.51

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Standalone Financial Statements Notes forming part of the Standalone Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

Movement in deferred tax assets and liabilities during the year ended March 31, 2021 and March 31, 2020 16.1 In determining allowance for credit losses of trade receivables, the Company has used the practical expedient by computing

Our performance
(` in Lacs) the expected credit loss allowance based on a provision matrix. The provision matrix takes into account historical credit loss
Recognised in Recognised in Other experience and is adjusted for forward looking information. The expected credit loss allowance is based on ageing of the
As at Statement Comprehensive As at
Particulars
April 1, 2020 of Profit and Loss Income during March 31, 2021
receivables and rates used in the provision matrix.
during the year the year
Deferred tax liabilities 16.2 The Company considers its maximum exposure to credit risk with respect to customers as at March 31, 2021 to be ` 33,092.28
- Depreciation and amortization 77.22 102.13 - 179.35 lacs (March 31, 2020: `36,009.26 lacs), which is the carrying value of trade receivables after allowance for credit losses.
- Others - -
77.22 102.13 - 179.35 The Company’s exposure to customers is diversified and no single customer contributes more than 10% of the outstanding
Deferred tax assets receivables as at March 31, 2021 and March 31, 2020.
- Retirement benefits 121.22 37.02 (7.75) 150.49
16.3 There are no outstanding receivables due from directors or other officers of the Company.

Strategic priorities
- Others 87.41 50.75 - 138.16
208.63 87.77 (7.75) 288.65
17 CASH AND CASH EQUIVALENTS
(` in Lacs)
(` in Lacs) As at As at
Particulars
Recognised in Recognised in Other March 31, 2021 March 31, 2020
As at Statement Comprehensive As at Balances with bank
Particulars
April 1, 2019 of Profit and Loss Income during March 31, 2020
during the year the year - in current accounts 680.84 568.32
Deferred tax liabilities Cash on hand 16.03 20.68
144 - Depreciation and amortization 44.07 33.15 - 77.22 696.87 589.00 145
- Others 6.81 (6.81) -
50.88 26.34 - 77.22 18 BANK BALANCES (OTHER THAN ABOVE)
Deferred tax assets (` in Lacs)

- Retirement benefits (3.80) 106.24 18.78 121.22 As at As at

Particulars
March 31, 2021 March 31, 2020

ESG approach
- Others 46.75 40.66 - 87.41
Earmarked balances with banks
42.95 146.90 18.78 208.63
- Fixed deposits 32.24 29.14
- Unclaimed dividend 1.11 0.85
15 INVENTORIES (AS AT COST OR NET REALISABLE VALUE, WHICHEVER IS LOWER) 33.35 29.99
(` in Lacs)

Particulars
As at As at 18.1 Fixed deposits earmarked with banks relate to balances held as security against borrowings and other trade commitments.
March 31, 2021 March 31, 2020
Raw materials 6,774.75 5,815.65
Work-in-progress 11,878.29 10,235.14 19 EQUITY SHARE CAPITAL
(` in Lacs)
Finished goods 14,741.66 14,445.75
As at As at

Statutory Reports
33,394.70 30,496.54 Particulars
March 31, 2021 March 31, 2020
Included above, goods-in-transit
Authorized
Raw materials 44.39 46.89
5,75,00,000 equity shares (March 31, 2020: 5,75,00,000 equity shares) of face value ` 2 each 1,150.00 1,150.00
Finished goods 37.88 99.64 fully paid-up
82.27 146.53 Issued, subscribed and paid-up
5,67,16,120 equity shares (March 31, 2020: 5,67,16,120 equity shares) of face value ` 2 each 1,134.32 1,134.32
16 TRADE RECEIVABLES fully paid-up
(` in Lacs) 1,134.32 1,134.32
As at As at
Particulars

Financial Statements
March 31, 2021 March 31, 2020
Secured, considered good 1,337.17 968.58
Unsecured, considered good 31,755.11 35,040.68
Credit impaired 330.48 229.67
33,422.76 36,238.93
Less: Allowance for expected credit losses (330.48) (229.67)
33,092.28 36,009.26

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Standalone Financial Statements Notes forming part of the Standalone Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

(` in Lacs)
19.1 Reconciliation of equity shares outstanding at the beginning and at the end of the year

Our performance
As at As at
As at March 31, 2021 As at March 31, 2020 Particulars
March 31, 2021 March 31, 2020
Particulars
No of Shares ` in Lacs No of Shares ` in Lacs 20.2 General reserve*
Equity shares at the beginning of the year 5,67,16,120 1,134.32 5,67,16,120 1,134.32 Balance at the beginning of the year 2,258.63 2,258.63
Add/(Less): Changes during the year - - - - Add/(Less): Changes during the year - -
Equity shares at the end of the year 5,67,16,120 1,134.32 5,67,16,120 1,134.32 Balance at the end of the year 2,258.63 2,258.63
* includes ` 1,253.63 lacs arising on amalgamation
19.2 Details of shareholders holding more than 5% shares in the Company 20.3 Retained earnings
Balance at the beginning of the year 31,311.41 26,586.05
As at March 31, 2021 As at March 31, 2020
Particulars Add: Profit for the year 8,728.02 5,945.38
No of Shares % holding No of Shares % holding
Add: Actuarial gain/(loss) on defined benefit obligation 30.79 (74.64)

Strategic priorities
Dollar Holding Private Limited 2,62,45,534 46.28% 2,56,41,256 45.21%
(Formerly Simplex Impex Private Limited) Less: Tax on the above (7.74) 18.78
V K Mercantile Private Limited 72,75,760 12.83% 72,75,760 12.83% 40,062.48 32,475.57
3,35,21,294 59.11% 3,29,17,016 58.04% Less: Appropriation
Dividend (964.17) (964.18)
Tax on dividend - (199.98)
19.3 Rights, preferences and restrictions attached to shares Balance at the end of the year 39,098.31 31,311.41
The Company has one class of issued shares i.e. equity shares having par value of ` 2 per share. Each holder of ordinary shares
is entitled to one vote per share. The dividend proposed by Board of Directors is subject to approval of the shareholders in the (b) Nature and purpose of reserves
146 ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation of the Company, the holders of 147
20.1 Securities premium
equity shares will be entitled to receive the remaining assets of the Company in proportion to the number of equity shares held.
Securities premium represents premium received on issue of shares. The reserve is utilised in accordance with the provisions
19.4 The Company does not have any holding Company or ultimate holding Company. of the Companies Act, 2013.

19.5 No shares have been reserved for issue under options and contracts/ commitments for the sale of shares/ disinvestment as 20.2 General reserve

ESG approach
at the balance sheet date.
General reserve is created out of the profits transferred from the earnings during the year. It is available for distribution to
the shareholders.
19.6 No convertible securities has been issued by the Company during the year.
20.3 Retained earnings
19.7 No calls are unpaid by any Director and officer of the Company during the year.
Retained earnings are the profits that the Company has earned till date, less any transfers to general reserve, dividends or
other distributions paid to shareholders.
20 OTHER EQUITY
(` in Lacs)
As at As at
21 BORROWINGS
Particulars

Statutory Reports
March 31, 2021 March 31, 2020
As at March 31, 2021 As at March 31, 2020
Securities premium 20.1 11,790.19 11,790.19 Particulars
Non-current Current Non-current Current
General reserve 20.2 2,258.63 2,258.63
Secured
Retained earnings 20.3 39,098.31 31,311.41
Term loan from banks 230.76 213.86 331.07 168.92
53,147.13 45,360.23
Commercial paper - - - 4,854.31
Repayable on demand from banks - 11,631.48 - 15,099.65
(a) The details of movement in components of Other equity is mentioned below: Unsecured
(` in Lacs) Loan from body corporate - 326.36 - 545.00
As at As at Less: Amount disclosed under ‘Other financial liabilities’ (Refer - (213.86) - (168.92)
Particulars

Financial Statements
March 31, 2021 March 31, 2020 Note 25)
20.1 Securities premium 230.76 11,957.84 331.07 20,498.96
Balance at the beginning of the year 11,790.19 11,790.19
Add/(Less): Changes during the year - -
Balance at the end of the year 11,790.19 11,790.19

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Standalone Financial Statements Notes forming part of the Standalone Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

21.1 Nature of security 23 PROVISIONS

Our performance
(` in Lacs)
a) Term loan from ICICI Bank is secured by exclusive charge on the capital assets procured out of the proceeds of the respective loan. As at As at
Particulars
March 31, 2021 March 31, 2020
b) Term loan from Allahabad Bank is secured by exclusive first charge over the assets acquired out of the proceeds of the respective Non-current
loan and situated at NH 7, V. Paddukottal, Tamilnadu. Provision for employee benefits (Refer Note 37) 518.67 397.06
518.67 397.06
c) Term loan from HDFC Bank is secured by exclusive charge on the capital assets procured out of the proceeds of the Current
respective loan. Provision for employee benefits (Refer Note 37) 11.55 7.49
11.55 7.49
d) Working capital loan from consortium member banks are secured by way of hypothecation charge over entire current assets viz.
raw materials, stock-in-trade and book debts both present and future ranking pari passu with other consortium member banks. 24 TRADE PAYABLES

Strategic priorities
(` in Lacs)
21.2 Repayment terms of loans outstanding as at March 31, 2021 Particulars
As at As at
March 31, 2021 March 31, 2020
a) Allahabad Bank term loan V amounting ` 365.56 lacs (March 31, 2020: ` 437.65 lacs) is repayable in 19 equal quarterly Total outstanding dues of micro and small enterprises
instalments beginning from June, 2019, the next instalment is due in June, 2021. Creditors for supply of goods and services 15.18 11.95
Total outstanding dues of creditors other than micro and small enterprises
b) ICICI Bank term loan IV amounting ` 30.14 lacs (March 31, 2020: ` 50.23 lacs) is repayable in 16 equal quarterly instalments Creditors for supply of goods and services 13,936.26 12,022.42
beginning from October, 2018, the next instalment is due in April, 2021. 13,951.44 12,034.37

148 c) Allahabad Bank term loan IV amounting ` 9.89 lacs (March 31, 2020: ` 12.11 lacs) is repayable in 16 equal quarterly instalments 24.1 Amount due to micro and small enterprises as defined in the “The Micro, Small and Medium Enterprises Development Act, 149
beginning from November, 2018, the next instalment is due in June, 2021. 2006” has been determined to the extent such parties have been identified on the basis of information available with the
Company. The disclosures relating to micro and small enterprises is as below:
d) HDFC Bank term loan amounting ` 39.03 lacs (March 31, 2020: Nil) is repayable in 20 equal quarterly instalments beginning (` in Lacs)
from February, 2021, the next instalment is due in May, 2021. Particulars 2020-21 2019-20

ESG approach
(a) Principal amount remaining unpaid to supplier at the end of the year. 14.98 11.95
e) Commercial paper has been repaid during the year.
(b) Interest due thereon remaining unpaid to supplier at the end of the year. 0.20 -
(c) The amount of interest paid by the buyer in terms of section 16 of The MSMED Act, 2006, - -
f) Working capital loans from banks amounting to ` 11631.48 lacs (March 31, 2020: ` 19,953.96 lacs) is repayable on demand.
along with the amount of the payment made to the supplier beyond the appointed day during
the year.
g) The loan from body corporate amounting to ` 326.36 lacs (March 31, 2020: ` 545.00 lacs) is repayable on demand. (d) Amount of interest due and payable for the period of delay in making payment (which have - -
been paid but beyond the appointed day during the year) but without adding the interest
21.3 Interest rates on the above loans from banks and body corporate between 4.50% to 9.35% p.a. specified under this Act.
(e) Amount of interest accrued and remaining unpaid at the end of the year. 0.20 -
(f) The amount of further interest remaining due and payable even in the succeeding years, until such - -
22 LEASE LIABILITIES date when the interest dues above are actually paid to the small enterprises, for the purpose of
(` in Lacs)

Statutory Reports
disallowance of a deductible expenditure under section 23 of The MSMED Act, 2006.
As at As at
Particulars
March 31, 2021 March 31, 2020
Non-current 25 OTHER FINANCIAL LIABILITIES
(` in Lacs)
Lease liabilities (Refer Note 42) 205.05 256.14
As at As at
205.05 256.14 Particulars
March 31, 2021 March 31, 2020
Current
Current maturities of long term debt 213.86 168.92
Lease liabilities (Refer Note 42) 347.95 284.96
Book overdraft - 77.54
347.95 284.96
Unclaimed dividend 1.11 0.85
Trade and security deposits (Dealer's deposits) 1,599.24 1,231.65

Financial Statements
Interest accrued but not due on borrowings 21.63 54.82
Employee related liabilities 638.39 241.39
Other payables 10.55 13.08
2,484.78 1,788.25

25.1 Book overdraft relate to overdraft balances of current bank accounts.

25.2 Other payables include provision for Mark to Market losses on forward booking of contracts.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Standalone Financial Statements Notes forming part of the Standalone Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

26 OTHER LIABILITIES 27.3 Contract balances

Our performance
(` in Lacs)
As at As at
The following table provides information about receivables, contract assets and contract liabilities from contracts with customers.
Particulars
March 31, 2021 March 31, 2020
Current Contract balances
(` in Lacs)
Advance from customers 181.45 178.14
As at As at
Statutory dues 160.01 111.91 Particulars
March 31, 2021 March 31, 2020
341.46 290.05
Receivables, which are included in ‘Trade receivables’ 33,092.28 36,009.26
26.1 Statutory dues primarily relate to payables in respect of GST, provident funds and tax deducted at source. Contract assets - -
Contract liabilities 181.45 178.14
33,273.73 36,187.40
27 REVENUE FROM OPERATIONS

Strategic priorities
(` in Lacs)
Year ended Year ended
27.4 Other information
Particulars
March 31, 2021 March 31, 2020
Transaction price allocated to the remaining performance obligations Nil
Sale of products 1,01,583.93 94,805.87
The amount of revenue recognised in the current period that was included in the opening contract liability balance. Nil
Other operating revenue
Job work charges 867.67 393.56
Sale of by-products/cotton waste 946.99 1,011.50 Performance obligations- The Company satisfies the performance obligation on shipment/ dispatch, as the case may be.
Duty drawback, incentives and others 160.20 270.84
Sale of import licence 136.78 155.11 27.5 Reconciliation of amount of revenue recognised in the Statement of Profit and Loss with contracted price
150 151
Claims and discounts - 73.12 (` in Lacs)
1,03,695.57 96,710.00 Year ended Year ended
Particulars
March 31, 2021 March 31, 2020
27.1 Nature of goods and services Revenue as per contracted price 1,07,867.46 99,028.86
The Company is engaged in the manufacturing of garments and hosiery products and generates revenue from the sale of the Less: Provision for sales on return basis (35.32) (128.35)

ESG approach
same. It is also the only reportable segment of the Company. Less: Dealers' incentives, schemes and discounts (6,248.21) (4,094.64)
Revenue from contract with customers 1,01,583.93 94,805.87
27.2 Disaggregation of revenue for the year
In the following table, revenue is disaggregated by primary geographical market, major products lines and timing of revenue 28 OTHER INCOME
recognition etc. (` in Lacs)
Year ended Year ended
Particulars
March 31, 2021 March 31, 2020
Disaggregation of revenue
(` in Lacs) Interest income
Year ended Year ended On bank deposits 3.98 1.59
Particulars
March 31, 2021 March 31, 2020 On others 75.30 6.62

Statutory Reports
- based on major products 79.28 8.21
Garments and hosiery products 1,01,583.93 94,805.87 Other non-operating income
Others - - Profit on sale of Property, plant and equipment (net) - 0.96
1,01,583.93 94,805.87 Insurance claim 96.11 182.81
- based on geographical region Net gain on foreign currency transaction and translation 75.46 140.17
India 95,308.84 87,922.16 Government grant - 2.93
Outside India 6,275.09 6,883.71 Provisions/Liabilities written back 33.76 88.58
1,01,583.93 94,805.87 Others 63.52 47.54
- based on timing of revenue 268.85 462.99

Financial Statements
At a point in time 1,01,583.93 94,805.87 348.13 471.20
Over time - -
1,01,583.93 94,805.87
- based on contract duration
Long term - -
Short term 1,01,583.93 94,805.87
1,01,583.93 94,805.87

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Standalone Financial Statements Notes forming part of the Standalone Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

29 COST OF MATERIALS CONSUMED 33 DEPRECIATION AND AMORTIZATION EXPENSE

Our performance
(` in Lacs)
(` in Lacs)
Year ended Year ended
Particulars Year ended Year ended
March 31, 2021 March 31, 2020 Particulars
March 31, 2021 March 31, 2020
Raw material at the beginning of the year 5,815.65 5,376.77
Depreciation on Property, plant and equipment (Refer Note 5) 1,160.13 1,163.54
Add: Purchases (including in-transit purchases) 47,425.95 42,886.53
Depreciation / Amortisation on Right of use assets (Refer Note 7) 384.85 252.59
Less: Raw material at the end of the year (6,774.75) (5,815.65)
Amortisation on Intangible assets (Refer Note 8) 2.10 5.11
46,466.85 42,447.65
1,547.08 1,421.24

30 CHANGES IN INVENTORIES OF FINISHED GOODS AND WORK-IN-PROGRESS 33.1 Depreciation on right of use on Buildings amounting to ` 384.68 lacs (Previous year 2019-20: `252.59 lacs) and Amortisation
(` in Lacs) on Right of use on leasehold land amounting to ` 0.17 lacs (Previous year 2019-20: Nil)

Strategic priorities
Year ended Year ended
Particulars
March 31, 2021 March 31, 2020
Inventories at the end of the period 34 OTHER EXPENSES
Finished goods 14,741.66 14,445.75 (` in Lacs)
Work-in-progress 11,878.29 10,235.14 Year ended Year ended
Particulars
26,619.95 24,680.89 March 31, 2021 March 31, 2020
Inventories at the beginning of the period Manufacturing expenses
Finished goods 14,445.75 16,699.88 Sub-contract expenses 21,077.38 18,558.03
Work-in-progress 10,235.14 10,380.06 Power and fuel 954.44 1,212.15
152 24,680.89 27,079.94 Carriage inward 239.37 233.22 153
Increase/(decrease) during the year (1,939.06) 2,399.05 Repairs to building 130.52 57.60
Repairs to machinery 443.25 456.23
22,844.96 20,517.23
31 EMPLOYEE BENEFITS EXPENSE Selling and administration expenses
(` in Lacs)

ESG approach
Advertisement expenses 7,855.49 7,293.96
Year ended Year ended
Particulars Freight and forwarding expenses 2,087.37 1,887.11
March 31, 2021 March 31, 2020
Salary and wages 4,066.98 3,844.70 Commission and brokerage 1,468.43 1,366.38
Contribution to provident and other funds 299.09 244.29 Sales promotion expenses 440.89 1,622.33
Staff welfare expenses 96.76 117.92 Other selling and distribution expenses 4,189.29 2,302.23
4,462.83 4,206.91 Rent 142.89 226.98
Communication costs 98.80 97.08
Printing and stationery 44.24 58.13
31.1 During the year, the Company recognised an amount of `375.64 lacs (Previous Year 2019-20: `348.00 lacs) as remuneration
to key managerial personnel on account of short-term employee benefits. Electricity expenses 103.90 114.45
Loss on Sale of Fixed Assets(net) 1.48 -

Statutory Reports
Royalty 51.70 47.70
32 FINANCE COSTS Legal and professional fees 319.69 388.77
(` in Lacs)
Insurance charges 180.15 117.79
Year ended Year ended
Particulars
March 31, 2021 March 31, 2020
Directors’ sitting fees 3.80 3.70
Interest on borrowings from banks 828.02 1,469.57 Travelling and conveyance expenses 135.22 156.57
Interest on lease Liabilities 5.70 3.85 Allowance for credit losses 100.81 135.10
Interest on others 44.97 55.61 Provision for doubtful other receivables 8.97 -
878.69 1,529.03 Receivables written off 48.49 30.67
Vehicle expenses 98.64 88.51
Contribution for CSR activities (Refer note 38) 192.00 182.38

Financial Statements
32.1 Interest on others include interest on income tax `Nil (Previous year 2019-20: `1.98 lacs)
Repairs to others 139.46 104.84

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Standalone Financial Statements Notes forming part of the Standalone Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

(` in Lacs)
37 DISCLOSURE PURSUANT TO INDIAN ACCOUNTING STANDARD - 19 ‘EMPLOYEE BENEFITS’ AS NOTIFIED U/S

Our performance
Year ended Year ended
Particulars
March 31, 2021 March 31, 2020 133 OF THE COMPANIES ACT, 2013.
Security charges 70.86 79.95 a) Defined Contribution Plan
Rates and taxes 50.13 52.37
Bank charges 31.82 108.16
The amount recognized as an expense for the Defined Contribution Plans are as under:
(` in Lacs)
Payment to auditors (Refer (i) below) 35.61 34.43
Particulars March 31, 2021 March 31, 2020
Miscellaneous expenses 151.61 181.61
Provident Fund 92.60 74.56
18,051.74 16,681.20
Employee State Insurance 40.62 42.51
40,896.70 37,198.43
(i) Details of auditors’ remuneration and out-of-pocket expenses is as below:
b) Defined Benefit Plan
(a) Statutory auditors

Strategic priorities
Statutory audit fees 16.25 16.25 The following are the types of Defined Benefit Plans:
Tax audit fees 3.75 2.75
(i) Gratuity Plan
Other services 13.20 12.80 Every employee who has completed five years or more of service is entitled to gratuity on terms not less favourable than
Reimbursement of expenses 0.91 1.13 the provisions of The Payment of Gratuity Act, 1972. The present value of defined obligation and related current cost are
34.11 32.93 measured using the Projected Unit Credit Method with actuarial valuation being carried out at Balance Sheet date.
(b) Cost auditors
Cost audit fees 1.50 1.50 (ii) Provident Fund
35.61 34.43 Provident Fund (other than government administered) as per the provisions of the Employees Provident Funds and
154 Miscellaneous Provisions Act, 1952. 155
35 OTHER COMPREHENSIVE INCOME
(` in Lacs) c) Risk Exposure
Particulars March 31, 2021 March 31, 2020 Defined Benefit Plans
Items that will not be reclassified to profit or loss Defined benefit plans expose the Company to actuarial risks such as: Interest rate risk, Salary risk and Demographic risk.

ESG approach
Remeasurement of the defined benefit plans 30.79 (74.64)
a) Interest rate risk: The defined benefit obligation calculated uses a discount rate based on government bonds. If the bond
Tax income/(expense) on the above (7.75) 18.78
yield falls, the defined benefit obligation will tend to increase.
23.04 (55.86)
b) Salary risk: Higher than expected increases in salary will increase the defined benefit obligation.
c) Demographic risk: This is the risk of variability of results due to unsystematic nature of decrements that includes
36 EARNINGS PER SHARE
(` in Lacs) mortality withdrawal disability and retirement. The effect of these decrements on the defined benefits obligations is not
Particulars March 31, 2021 March 31, 2020
straight forward and depends on the combination of salary increase, discount rate and vesting criteria. It is important not
to overstate withdrawals because in the financial analysis the retirement benefit of the short career employee typically
Profit for the year 8,728.02 5,945.38
costs less per year as compared to a long service employee.
Weighted average number of equity shares (FV `2 per share) 5,67,16,120 5,67,16,120
d) Reconciliation of the net defined benefit (asset)/ liability

Statutory Reports
Earnings per share:
Basic (`) 15.39 10.48
The following table shows a reconciliation from the opening balances to the closing balances for the net defined benefit
Diluted (`) 15.39 10.48 (asset)/ liability and its components:
(` in Lacs)
Gratuity (Unfunded)
Particulars
2020-21 2019-20
Balance at the beginning of the year 404.55 210.71
Current service cost 138.20 107.39
Interest cost on Defined Benefit Obligation 27.67 14.02
Actuarial gain and losses arising

Financial Statements
Due to change in financial assumptions (22.10) 67.74
Due to unexpected experience adjustments (8.70) 6.90
Benefits paid (9.40) (2.21)
Balance at the end of the year 530.22 404.55

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Standalone Financial Statements Notes forming part of the Standalone Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

e) Amount recognized in Balance Sheet j) Sensitivity Analysis

Our performance
(` in Lacs)
The sensitivity analysis below have been determined based on a method that extrapolates the impact on defined benefit
Gratuity (Unfunded)
Particulars obligation as a result of reasonable changes in key assumptions occurring at the end of the reporting period. Reasonably
2020-21 2019-20
possible changes at the reporting date to one of the relevant actuarial assumptions, holding other assumptions constant,
Present value of Defined Benefit Obligation 530.22 404.55
would have affected the defined benefit obligation by the amounts shown below:
Net (Assets)/ Liability recognised in the Balance Sheet 530.22 404.55 (` in Lacs)
Variable Sensitivity Level Effect on Defined Benefit Obligations
f) Expenses recognized in Statement of Profit or Loss March 31, 2021 March 31, 2020
(` in Lacs)
Increase Decrease Increase Decrease
Gratuity (Unfunded) Discount rate +/- 0.5% 486.03 579.82 369.66 443.77
Particulars
2020-21 2019-20 Salary escalation rate +/- 0.5% 576.65 488.47 442.55 370.35

Strategic priorities
Current service cost 138.20 107.39 Attrition rate +/- 0.5% 527.24 533.24 401.95 407.18
Past service cost - - Mortality rate +/- 10% 529.65 530.80 403.95 405.15
Interest cost 27.67 14.02
Total 165.87 121.41
Although the analysis does not take account of the full distribution of cash flows expected under the plan, it does provide
an approximation of the sensitivity of the assumptions shown.
g) Remeasurement recognized in Other Comprehensive Income
(` in Lacs)
Gratuity (Unfunded)
38 CORPORATE SOCIAL RESPONSIBILITY
Particulars
156 2020-21 2019-20 In accordance with the Guidance Note on Accounting for expenditure on Corporate Social Responsibility Activities, the requisite 157
Actuarial (gain)/ loss on Defined Benefit Obligation (30.79) 74.64 disclosure are as follows:
(` in Lacs)
Year ended Year ended
h) Actuarial Assumptions Particulars
March 31, 2021 March 31, 2020
(` in Lacs)
Gross amount required to be spent by the Company during the year 191.06 182.38

ESG approach
Gratuity (Unfunded) CSR expenditure incurred during the year 192.00 182.38
Particulars
2020-21 2019-20 Related party transactions as per Ind AS 24 in relation to CSR expenditure 192.00 182.38
Financial Assumptions Provision made in relation to CSR expenditure - -
Discount rate 6.92% 6.69%
Salary escalation rate 9.00% 9.00%
Demographic Assumptions 39 CONTINGENT LIABILITIES
Mortality rate IALM 2006-2008 IALM 2006-2008 (` in Lacs)
Ultimate Ultimate 39.1 Particulars March 31, 2021 March 31, 2020
Withdrawal rate 20.00% 20.00% (i) Bank guarantee 5.00 5.00
(ii) Excise duty 3.06 3.06
(iii) Income tax* 111.60 111.60

Statutory Reports
i) Maturity Analysis
*Amount paid under protest `12.99 lacs (March 31, 2020: `12.99 lacs) included in Income tax (Refer Note 14B).
At March 31, 2021, the weighted average duration of the defined benefit obligation was 23 years (previous year 24 years).
The distribution of the timing of benefits payment i.e., the maturity analysis of the benefit payments is as follows: (` in Lacs)
39.2 The Hon’ble Supreme Court of India (“SC”) by their order dated February 28, 2019, in the case of Surya Roshani Limited v/s
(` in Lacs) EPFO, set out the principles based on which allowances paid to the employees should be identified for inclusion in basic wages
Expected benefits payment for the year ending Gratuity (Unfunded) for the purposes of computation of Provident Fund contribution. Subsequently, a review petition against this decision has been
March 31, 2022 11.94 filed and is pending before the SC for disposal.
March 31, 2023 4.93
March 31, 2024 6.93 The Company is awaiting the outcome of the review petition, and also directions from EPFO, if any, to assess any potential
March 31, 2025 6.14 impact on the Company and consequently no adjustments have been made in the books of account.

Financial Statements
March 31, 2026 9.53
March 31, 2027 to March 31, 2031 151.56
March 31, 2032 and beyond 2,107.35

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Standalone Financial Statements Notes forming part of the Standalone Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

40 The Board of Directors at its meeting held on May 29, 2021 have recommended a payment of final dividend of ` 2.40 per 42.3 Future Payment of Lease liabilities on an undiscounted basis

Our performance
equity share of FV ` 2 each for the financial year ended March 31, 2021. The same amounts to `1,361.19 lacs. This is subject to (` in Lacs)
approval at the ensuing Annual General Meeting of the Company and hence is not recognized as a liability. Particulars
As at As at
March 31, 2021 March 31, 2020

41 ASSETS PLEDGED AS SECURITY The future payment of lease liabilities on an undiscounted basis are as follows:
Particulars
The carrying amounts of assets pledged as security for current and non-current borrowings are: Less than one year 350.81 284.96
(` in Lacs)
One to five years 206.05 260.48
Particulars March 31, 2021 March 31, 2020
Total undiscounted lease liabilities 556.86 545.44
Non current assets
Lease liabilities included in the statement of financial position 553.00 541.10
Non financial assets
Current Lease Liabilities 347.95 284.96
Land and buildings 5 2,083.41 2,160.43
Non– Current Lease Liabilities 205.05 256.14

Strategic priorities
Plant and machinery 5 4,586.14 3,441.55
Other tangible assets 5 1,212.60 1,286.68
42.4 Amounts recognized in Profit or Loss
Intangible assets 8 3.68 4.12 (` in Lacs)
Financial assets For the year ended For the year ended
Particulars
Loans 11 77.45 71.99 March 31, 2021 March 31, 2020
Other financial assets 12 216.52 262.29 Interest expense on lease liabilities 5.70 3.85
Other assets 13 147.00 55.83 Depreciation expense of right–of–use assets 384.85 252.59
Total Non current assets pledged as security 8,326.80 7,282.89
158 Current assets The weighted average incremental borrowing rate of 9% has been applied to lease liabilities recognised in the Balance Sheet 159
Non financial assets
Inventories 15 33,394.70 30,496.54
Financial assets 43 FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
Trade receivables 16 33,092.28 36,009.26 43.1 The Company has measured its financial asset and financial liabilities at amortised cost, except as stated below:
Loans 11 37.17 34.29 (` in Lacs)

ESG approach
Other financial assets 12 292.30 153.08 Particulars March 31, 2021 March 31, 2020
Total Current assets pledged as security 66,816.45 66,693.17 Foreign exchange forward contract (MTM) - Profit/(Loss) (Level 1- Quoted price in active markets) - (10.44)
Total assets pledged as security 75,143.25 73,976.06
43.2 The management has assessed that the fair values of cash and cash equivalents, trade receivables, trade payables, lease
liabilities, short term borrowings and other current financial liabilities approximates their carrying amounts largely due to the
42 LEASES
short-term maturities of these instruments. The management has assessed that the fair value of floating rate instruments
42.1 The company has elected to apply Ind AS 116 to its leases with modified retrospective approach. Under this approach, the approximates their carrying value.
company has recognized lease liabilities and corresponding equivalent right of use assets. In the statement of profit & loss for
the year ended, operating lease expenses which were recognised as other expenses in previous periods is now recognised as 43.3 The fair values of non-current borrowings are based on the discounted cash flows using a current borrowing rate. They are
depreciation expenses on right of use assets and finance cost for interest accrued on such lease liability. classified as Level 3 fair values in the fair value hierarchy due to the inclusion of unobservable inputs including own credit risks,

Statutory Reports
which was assessed as on the balance sheet date to be insignificant.
42.2 Movement in Lease Liabilities during the year ended March 31, 2021
(` in Lacs)
As at As at
44 FAIR VALUE HIERARCHY
Particulars
March 31, 2021 March 31, 2020
The fair value of financial instruments are classified into three categories depending on the inputs used in the valuation technique.
Balance at the beginning 541.10 - The hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1 measurements)
Additions 428.44 792.22 and lowest priority to unobservable inputs (Level 3 measurements). The categories used are as follows:
Interest Cost accrued during the period 5.70 3.85
Deletions - • Level 1: Quoted prices for identical instruments in an active market;
Payment of lease liabilites (423.27) (254.97) • Level 2: Directly or indirectly observable market inputs, other than Level 1 inputs; and

Financial Statements
Adjustment 1.03 -
Balance at the end 553.00 541.10 • Level 3: Inputs which are not based on observable market data.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Standalone Financial Statements Notes forming part of the Standalone Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

a) The following are the judgements and estimates made in determining the fair values of the financial instruments that are 45.2 Liquidity risk

Our performance
(a) recognized and measured at fair value and (b) measured at amortized cost and for which fair value are disclosed in the
It is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that
financial statements. To provide an indication about the reliability of the inputs used in determining fair value, the Company
are settled by delivering cash or another financial asset. The Company’s approach to managing liquidity is to ensure, as far as
has classified its financial instruments into the three levels of fair value measurement as prescribed under the Ind AS 113
possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions,
“Fair Value Measurement”.
without incurring unacceptable losses or risking damage to the Company’s reputation. Typically the Company ensures that it
has sufficient cash on demand to meet expected short term operational expenses. The Company’s objective is to maintain a
b) There are no transfers between levels during the year.
balance between continuity of funding and flexibility through the use of bank loans/internal accruals. The table below provides
details regarding the remaining contractual maturities of significant financial liabilities at the reporting date.
45 FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (` in Lacs)
The Company’s activities expose it to the following risks: Particulars On Demand Less than 1 year 1 year to 5 years Total
Year ended March 31, 2021

Strategic priorities
a) Credit risk
Borrowings 11,957.84 213.86 230.76 12,402.46
b) Liquidity risk Lease liabilities - 347.95 205.05 553.00
Interest accrued but not due on borrowings - 21.63 - 21.63
c) Market risk
Trade and security deposits 1,599.24 - - 1,599.24
Trade payables 13,951.44 13,951.44
45.1 Credit risk
Other financial liabilities 650.05 650.05
Credit risk is the risk that counter party will not meet its obligations under a financial instruments or customer contract leading Year ended March 31, 2020
to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables) and from its Borrowings 20,498.96 168.92 331.07 20,998.95
160 financing activities including deposits with banks and financial institutions, investments, foreign exchange transactions and Lease liabilities - 284.96 256.14 541.10 161
other financial instruments. Interest accrued but not due on borrowings - 54.82 - 54.82
Trade and security deposits 1,231.65 - - 1,231.65
Trade and other receivables Trade payables - 12,034.37 - 12,034.37
Customer credit risk is managed by the Company subject to the Company’s established policy, procedures and control relating Other financial liabilities - 332.86 - 332.86
to customer credit risk management. Concentration of credit risk with respect to trade and other receivables are limited, due to

ESG approach
the Company’s customer / other party base being large and diverse. All trade and other receivables are reviewed and assessed
45.3 Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in
for default on a quarterly basis. Our historical experience of collecting receivables is that credit risk is low. Outstanding customer
market prices. Market risk comprises three type of risks:
receivables / other party are regularly monitored and major customers / other party are generally secured by obtaining security
deposits/bank guarantee or other forms of credit insurance. The maximum exposure to credit risk at the reporting date is the Commodity price risk, Foreign exchange risk, and Interest rate risk.
carrying value of trade receivable as disclosed in Note 16.
1) Commodity price risk
Trade Receivables The Company primarily imports cotton and rubber. It is exposed to commodity price risk arising out of movement in prices
Reconciliation of loss allowance provision of such commodities. Such risks are monitored by tracking of the prices and are managed by entering into fixed price
(` in Lacs) contracts, where considered necessary.
Particulars March 31, 2021 March 31, 2020

Statutory Reports
Opening balance of loss allowance 229.67 94.57 2) Foreign currency risk
Charge/(release) during the year 100.81 135.10 The Company has Foreign Currency Exchange Risk on imports of input materials, Capital Equipment(s) in foreign currency
Closing balance of loss allowance 330.48 229.67 for its business. The Company evaluates the impact of foreign exchange rate fluctuations by assessing its exposure to
exchange rate risks. Certain transactions of the Company act as a natural hedge as a portion of both assets and liabilities
Other Receivables are denominated in similar foreign currencies. For the remaining exposure to foreign exchange risk, the Company adopts
Reconciliation of loss allowance provision a policy of selective hedging based on risk perception of the management using derivative, wherever required, to mitigate
(` in Lacs) or eliminate the risk.
Particulars March 31, 2021 March 31, 2020
Opening balance of loss allowance - -
Charge/(release) during the year 8.97 -

Financial Statements
Closing balance of loss allowance 8.97 -

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Standalone Financial Statements Notes forming part of the Standalone Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

The Company’s exposure to foreign currency risk at the end of the reporting period are as follows: Interest rate sensitivity

Our performance
The following table demonstrates the sensitivity to a reasonably possible change in interest rates on that portion of loans
(I) Unhedged foreign currency exposure as at reporting date
(` in Lacs) and borrowings affected. With all other variables held constant, the Company’s profit before tax is affected through the
March 31, 2021 March 31, 2020
impact on floating rate borrowings, as follows:
Particulars (` in Lacs)
USD ` in Lacs USD ` in Lacs
Effect on profit
Financial assets Variable Change
before tax
Trade receivables 11,83,421 865.20 12,13,554 918.11 As at March 31, 2021 +50 basis points (58.16)
Financial liabilities -50 basis points 58.16
Trade payables and others 2,06,858 151.23 - - As at March 31, 2020 +50 basis points (78.00)
Net exposure in foreign currency 9,76,563 713.97 12,13,554 918.11 -50 basis points 78.00

Strategic priorities
(II) Derivatives contract outstanding as at reporting date
(` in Lacs) 46 CAPITAL MANAGEMENT

Particulars
March 31, 2021 March 31, 2020 The Company’s objective to manage its capital is to ensure continuity of business while at the same time provide reasonable returns
USD ` in Lacs USD ` in Lacs to its various stakeholders but keep associated costs under control. In order to achieve this, requirement of capital is reviewed
Derivative assets periodically with reference to operating and business plans that take into account capital expenditure and strategic investments.
Forward contract against firm commitments - - 8,00,000 605.24 Apart from internal accrual, sourcing of capital is done through judicious combination of equity and borrowing, both short term and
Derivative liabilities long term.Net Debt(total borrowing less cash and cash equivalents) to equity ratio is used to monitor capital.
Forward contract against firm commitments - - - - (` in Lacs)
162 Net exposure in foreign currency - - 8,00,000 605.24 Particulars March 31, 2021 March 31, 2020 163
Total Borrowing as per note 21 12,188.60 20,830.03
Current maturities for long term debt as per note 25 213.86 168.92
Sensitivity analysis
Total Debt 12,402.46 20,998.95
The analysis is based on assumption that the increase/decrease in foreign currency by 5% with all other variables held
Less : Cash and cash Equivalent 696.87 589.00
constant, on the unhedged foreign currency exposure.

ESG approach
(` in Lacs) Net Debt (A) 11,705.59 20,409.95
March 31, 2021 March 31, 2020 Total Equity (B) 54,281.45 46,494.55
Variable Change Impact on Impact on Net Debt to Equity ratio (A/B) 0.22 0.44
Profit before tax Other equity Profit before tax Other equity
USD sensitivity (Increase) + 5% 35.70 26.71 45.91 34.36 47 
Certain Trade Receivables, Loans & Advances and Trade Payables are subject to confirmation. In the opinion of the
USD sensitivity (Decrease) - 5% (35.70) (26.71) (45.91) (34.36) management, the value of Trade Receivables and Loans & Advances on realisation in the ordinary course of business, will not
be less than the value at which these are stated in the Balance Sheet.
3) Interest rate risk
The Company is exposed to risk due to interest rate fluctuation on long term borrowings. Such borrowings are based on
fixed as well as floating interest rate. Interest rate risk is determined by current market interest rates, projected debt
servicing capability and view on future interest rate. Such interest rate risk is actively evaluated and is managed through

Statutory Reports
portfolio diversification and exercise of prepayment/refinancing options where considered necessary.
(` in Lacs)
Particulars March 31, 2021 March 31, 2020
Financial assets
Fixed rate instruments - -
Financial liabilities
Fixed rate instruments 770.98 5,399.31
Variable rate instruments 11,631.48 15,599.64

Financial Statements
Annual Report 2020-21
 Dollar Industries Limited

Who we are
Notes forming part of the Standalone Financial Statements Notes forming part of the Standalone Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

48 SEGMENT REPORTING c) Relatives of Key Managerial Personnel

Our performance
There is only one primary business segment i.e. “Garments & Hosiery goods and related services” and hence no separate segment Mr Ramesh Kumar Gupta Mr Pramod Kumar Gupta
information is disclosed in this financials. Mrs Chandrakala Gupta Mrs Anita Gupta
Mrs Ruchi Gupta Mrs Nitu Gupta
Secondary information is reported geographically. Mrs Seema Gupta Mr Ankit Gupta
Mr Ayush Gupta Mr Gaurav Gupta
Geographical segments Mrs Saadhika Gupta Mrs Ashita Gupta
The Company primarily operates in India and therefore analysis of geographical segment is demonstrated into Indian and overseas Mr Anant Gupta Ms Vedika Gupta
operation as under: Mrs Swati Gupta Mr. Din Dayal Gupta (w.e.f April 12, 2019)
(` in Lacs) Ms Pallavi Gupta

Strategic priorities
March 31, 2021 March 31, 2020
Particulars
India Overseas India Overseas d) Close family members of Key Managerial Personnel who are under the employment of the Company:
Revenue from operations 95,308.84 6,275.09 87,922.16 6,883.71
Carrying value of Non-current assets* 10,137.66 - 8,893.72 - Mr Ankit Gupta (son of Mr Vinod Kumar Gupta, Managing Director)
(other than financial instruments) Mr Gaurav Gupta (son of Mr Binay Kumar Gupta, Managing Director)
Mr Ayush Gupta (son of Mr Vinod Kumar Gupta, Managing Director)
*Non-current assets for this purpose consists of Property, plant and equipment, Capital work-in-progress, Right of use assets, Other intangible assets and Mrs Saadhika Gupta (daughter-in-law of Mr Vinod Kumar Gupta, Managing Director)
Other non-current assets.
Mrs Ashita Gupta (daughter-in-law of Mr Binay Kumar Gupta, Managing Director)
Mrs Swati Gupta (daughter-in-law of Mr Vinod Kumar Gupta, Managing Director)
Revenue from major customers Ms Vedika Gupta (daughter of Mr Mr Krishan Kumar Gupta, Whole-time Director)
164 165
The Company is not reliant on revenues from transactions with any single external customer and does not receive 10% or more of Ms Pallavi Gupta (daughter of Mr Binay Kumar Gupta, Managing Director)
its revenues from transactions with any single external customer.
e) Entities where Directors/Relatives of Directors have control/significant influence
49 INFORMATION ON RELATED PARTY TRANSACTIONS AS REQUIRED BY IND AS 24 - RELATED PARTY Goldman Trading Private Limited Amicable Properties Private Limited

ESG approach
DISCLOSURES Dollar Holdings Private Limited (Formerly known as Simplex Impex Private Limited) PHPL Stock Broking Private Limited
a) Joint Venture Zest Merchants Private Limited Adds Projects Private Limited
VA Infraprojects Private Limited BS Infraproperties Private Limited
Pepe Jeans Innerfashion Private Limited KN Infraproperties Private Limited BR Infraprojects Private Limited
KPS Distributors Private Limited VHR Solutions Private Limited
b) Key Managerial Personnel Bhawani Yarns Private Limited Dindayal Texpro Private Limited
Chairman Shri Din Dayal Gupta* Sri Venkateswara Knitting Erode Textile Process
Managing Director Mr Vinod Kumar Gupta Sree Krishna Enterprise Dhaksh Knitfab
Mr Binay Kumar Gupta Bhawani Textiles Force Marketing
Whole-time Director Mr Krishan Kumar Gupta Sujata Enterprises Dollar Foundation

Statutory Reports
Mr Bajrang Kumar Gupta Atul Agencies Vichaar Television Network Limited
Mr Gopalakrishnan Sarankapani Arya Industries V K Mercantile Private Limited
Independent Director Mrs Divyaa Newatia R A Dealcom Private Limited
Mr Binay Kumar Agarwal
Mr Rajesh Kumar Bubna
Mr Sunil Mitra (Till October 4, 2020)
Mr Anil Kumar Saboo
Mr Srikumar Bandyopadhyay
Non- executive Director Mr Sanjay Jhunjhunwalla (Till October 19, 2020)

Financial Statements
Chief Financial Officer Mr Ankit Gupta
Company Secretary Mr Abhishek Mishra
* Shri Din Dayal Gupta resigned from the Chairmanship of the Company with effect from April 11, 2019.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Standalone Financial Statements Notes forming part of the Standalone Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

f) Details of related party transactions during the year ended March 31, 2021 (ii) The sale to and purchase from Related Party are made in the normal course of business and on terms equivalent to those

Our performance
(` in Lacs) that prevail in arm’s length transactions. The Loans and Advances issued to Related Parties are on terms equivalent to
Entities where Directors/
those that prevail in arm’s length transactions. Outstanding Balances at the year end are unsecured and settlement
Relatives of Key occurs in cash for the year ended March 31, 2021, the Company has recorded the receivable relating to amount due from
Joint Venture Key Managerial Personnel Relatives of Directors have
Nature of Transaction Managerial Personnel
control/ significant influence Related Parties net of impairment. This assessment is undertaken each Financial Year through examining the Financial
2020-21 2019-20 2020-21 2019-20 2020-21 2019-20 2020-21 2019-20 position of the Related Parties and the market in which the Related Party operates.
Income
Sale of goods 221.31 631.54 - - - - 301.45 168.15 50 
The company has assessed and considered the impact of the ongoing Covid-19 pandemic on carrying amounts of receivables,
Interest received - 1.38 - - - - - - other assets and its business operations including all relevant internal and external information available up to the date of
Rent received - - - - - - 6.49 - approval of these financial results. Basis such evaluation, the management does not expect any adverse impact on its future
Other miscellaneous income - - - - - - 0.28 7.87 cash flows and shall be able to continue as a going concern and meet its obligations as and when they fall due. The impact of
Covid-19 on the Company’s financial results may differ from that estimated as at the date of approval of these financial results.

Strategic priorities
Expenditure
Purchase of goods - - - - - - 2,425.20 1,653.22 The company will continue to monitor future economic conditions for any significant change.
Services received - - - - 0.44 1.17 1,211.47 1,334.29
Remuneration and perquisites - - 420.64 395.48 53.56 43.00 - - 51 Previous year figures have been recasted/restated wherever necessary.
Directors' sitting fees - - 3.80 3.70 - - - -
Interest paid - - - - - - 44.71 52.87 As per our report of even date attached
Rent paid - - 8.29 8.25 - - 120.09 134.21
For Singhi & Co. For and on behalf of the Board of Directors of
Royalty - - - - - - 57.09 56.29
Commission paid - - - - 30.58 20.94 11.23 13.73 Chartered Accountants Dollar Industries Limited
166 Firm Reg. No. 302049E CIN: L17299WB1993PLC058969 167
Paid to Trust for CSR activities - - - - - - 192.00 182.38
Reimbursement of expenses - - - - - - 538.17 3.47
paid Shrenik Mehta Vinod Kumar Gupta Krishan Kumar Gupta
Others Partner Managing Director Whole Time Director
Dividend paid - - 45.71 116.23 90.85 27.88 559.59 434.52 Membership No.: 063769 DIN: 00877949 DIN: 01982914

ESG approach
Investment - 300.00 - - - - - -
Leasehold Land Rights - - - - - - 55.00 - Place: Kolkata Ankit Gupta Abhishek Mishra
Site Formation Expenses - - - - - - 408.95 - Date: May 29, 2021 Chief Financial Officer Company Secretary
Loan taken - - - - - - 2,000.00 1,025.00
Repayment of loan - - - - - - 2,260.00 1,033.00

g) Details of closing balances of related party as at March 31, 2021

(` in Lacs)
Entities where Directors/
Relatives of Key
Joint Venture Key Managerial Personnel Relatives of Directors have

Statutory Reports
Nature of Transaction Managerial Personnel
control/ significant influence
31-03-2021 31-03-2020 31-03-2021 31-03-2020 31-03-2021 31-03-2020 31-03-2021 31-03-2020
Outstanding payable
Loan - - - - - - 326.36 545.00
Sitting Fees - - 0.11 - - - - -
Trade and other payables - - 0.32 0.32 34.61 19.51 444.41 400.78
Outstanding receivable
Trade and other receivables 87.34 63.30 - - - - 306.50 115.10

Financial Statements
(i) Details of investments made by the Company in equity shares of its joint venture is disclosed in Note 9.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
INDEPENDENT AUDITOR’S REPORT Key audit matter
2. Recoverability of trade receivables
How our audit addressed the key audit matter
Our procedures included, but was not limited to the following:
(Refer Note 3.4.a and 16 to the Consolidated financial statements) • Evaluated and tested the controls relating to credit control and
The Company has trade receivables amounting to ` 33,092.28 approval process and assessing the recoverability of overdue
Lakhs (net of provision for expected credit losses of ` 330.48 lakhs) receivables by comparing management’s views of recoverability of
as at March 31, 2021 as detailed in Notes 16 to the consolidated overdue receivables to historical patterns of receipts, in conjunction
financial statements. with reviewing receipts subsequent to the financial year end for its
To the Members of Dollar Industries Limited its consolidated cash flows and the consolidated statement of effect in reducing overdue receivables at the financial year end
Due to the inherent subjectivity that is involved in making judgments

Our performance
changes in equity for the year ended on that date. in relation to credit risk exposures to determine the recoverability of • Checked on sample basis balance confirmations from customers to
trade receivables and significant estimates and judgments made test whether trade receivables as per books are acknowledged by
REPORT ON THE AUDIT OF THE CONSOLIDATED
by the management for provision for loss allowance under expected them.
FINANCIAL STATEMENTS Basis for Opinion
credit loss model. Based on above, the matter has been considered • Reviewed at the adequacy of the management judgements and
Opinion We conducted our audit of the consolidated financial statements to be a key audit matter. estimates on the sufficiency of provision for doubtful debts through
in accordance with the Standards on Auditing (SAs) specified detailed analyses of ageing of receivables and assessing the adequacy
We have audited the accompanying consolidated financial of disclosures in respect of credit risk.
under section 143(10) of the Act. Our responsibilities under those
statements of Dollar Industries Limited (hereinafter referred Our Conclusion :
Standards are further described in the Auditor’s Responsibilities
to as “the Company”) and its joint-venture which comprise Based on the above procedures, we did not identify any significant deviation
for the Audit of the consolidated Financial Statements’ section
the consolidated Balance sheet as at March 31 2021, the to the assessment made by management in respect recoverability of trade
of our report. We are independent of the company and its joint-
consolidated Statement of Profit and Loss, (including Other receivables.
venture in accordance with the ‘Code of Ethics’ issued by the
Comprehensive Income), the consolidated Cash Flow Statement

Strategic priorities
3. Inventories valuation and existence: Our procedures included, but was not limited to the following:
Institute of Chartered Accountants (ICAI) of India together with
and the consolidated Statement of Changes in Equity for the year (Refer Note 3.7 and 15 to the consolidated financial statements) • Obtained a detailed understanding and evaluated the design and
the ethical requirements that are relevant to our audit of the
then ended, and notes to the consolidated financial statements, The Company has Inventories of ` 33,394.70 Lakhs as at March implementation of controls that the Company has established in
consolidated financial statements under the provisions of the relation to inventory valuation and existence.
including a summary of significant accounting policies and 31, 2021 as detailed in Notes 15 to the consolidated financial
Act and the Rules there under, and we have fulfilled our other statements. • Observed the physical verification of inventories count at the financial
other explanatory information (hereinafter referred to as “the
ethical responsibilities in accordance with these requirements year end and assessed the adequacy of controls over the existence of
consolidated financial statements”). Inventories valuation and existence has been determined to be
and the ICAI’s Code of Ethics. We believe that the audit evidence a key audit matter as inventories may be held for long periods of inventories.
we have obtained is sufficient and appropriate to provide a basis time before being sold making it vulnerable to obsolescence. This • Obtained assurance over the appropriateness of management’s
In our opinion and to the best of our information and according to
for our audit opinion on the consolidated financial statements. could result in an overstatement of the value of the inventories if assumptions applied in calculating the gross profit margin and
the explanations given to us, the aforesaid consolidated financial
the cost is higher than the net realisable value. Furthermore, the discounts to be deducted from sales price to arrive at cost of goods.
168 statements give the information required by the Companies Act, assessment and application of inventories provisions are subject to 169
Key Audit Matters • Evaluated management judgment with regards to the application of
2013 (“the Act”) in the manner so required and give a true and significant management judgment. provisions to the inventories.
fair view in conformity with the Indian Accounting Standards Key audit matters are those matters that, in our professional Our Conclusion :
prescribed under section 133 of the Act read with the Companies judgment, were of most significance in our audit of the
Based on the above procedures, we did not identify any significant
(Indian Accounting Standards) Rules, 2015, as amended, (“Ind consolidated financial statements of the current period. These deviation to the assessment made by management in respect Inventories
AS”) and other accounting principles generally accepted in matters were addressed in the context of our audit of the

ESG approach
valuation and existence.
India, of the consolidated state of affairs of the Company and consolidated financial statements as a whole, and in forming
its joint-venture as at March 31, 2021, its consolidated profit our opinion thereon, and we do not provide a separate opinion on
(financial performance, including other comprehensive income), these matters. For each matter below, our description of how our Information Other than the Consolidated Financial Responsibility of Management and Those Charged with
audit addressed the matter is provided in that context. Statements and Auditor’s Report Thereon Governance for the Consolidated Financial Statements
The Company’s Board of Directors is responsible for the The Company’s Board of Directors is responsible for the
Key audit matter How our audit addressed the key audit matter
preparation of the other information. The other information matters stated in section 134(5) of the Act with respect to the
1. Estimation of rebates, discounts and sales returns Our procedures included, but was not limited to the following:
comprises the information included in the Management preparation and presentation of these consolidated financial
(Refer Note 3.10 to the consolidated financial statements) • Obtained a detailed understanding from the management with regard Discussion and Analysis, Board’s Report including Annexures statements that give a true and fair view of the consolidated
The Company sells its products through various channels like to controls relating to recording of rebates, discounts, sales returns
and period end provisions relating to estimation of revenue, and tested
to Board’s Report, Business Responsibility Report, Corporate financial position, consolidated financial performance including
distributors, retailers, e-commerce etc. and recognizes liabilities
Governance and Shareholder’s Information, but does not other comprehensive income, consolidated cash flows and

Statutory reports
related to rebates, discounts and sales returns. the operating effectiveness of such controls;
• Tested the inputs used in the estimation of revenue in context of include the consolidated financial statements and our auditor’s consolidated changes in equity of the Company in accordance with
As per the accounting policy of the Company, the revenue is
recognised upon transfer of control of goods to the customer and rebates, discounts and sales returns to source data; report thereon. the accounting principles generally accepted in India, including
thus requires an estimation of the revenue taking into consideration • Assessed the underlying assumptions used for determination of the Indian Accounting Standards (Ind AS) specified under section
the rebates, discounts and sales returns as per the terms of rebates, discounts and sales returns; Our opinion on the consolidated financial statements does not 133 of the Act read with the Companies (Indian Accounting
the contracts. With regard to the determination of revenue, the • Ensured the completeness of liabilities recognised by evaluating the cover the other information and we do not express any form of Standards) Rules, 2015, as amended. This responsibility also
management is required to make significant estimates in respect of parameters for sample schemes; assurance conclusion thereon. includes maintenance of adequate accounting records in
following: • Performed look-back analysis for past trends by comparing recent accordance with the provisions of the Act for safeguarding the
• the rebates/ discounts linked to sales, which will be given to the actuals with the estimates of earlier periods and assessed subsequent In connection with our audit of the consolidated financial assets of the Company and its joint-venture and for preventing
customers pursuant to schemes offered by the Company; events; statements, our responsibility is to read the other information and detecting frauds and other irregularities; selection and

Financial statements
• provision for sales returns, where the customer has the right to • Tested credit notes issued to customers and payments made to them and, in doing so, consider whether such other information is application of appropriate accounting policies; making judgments
return the goods to the Company; and during the year and subsequent to the yearend along with the terms of materially inconsistent with the financial statements or our and estimates that are reasonable and prudent; and the design,
• compensation (discounts) offered by the customers to the the related schemes. knowledge obtained during the course of our audit or otherwise implementation and maintenance of adequate internal financial
ultimate consumers at the behest of the Company. Our Conclusion : appears to be materially misstated. If, based on the work we have controls, that were operating effectively for ensuring the accuracy
The matter has been determined to be a key audit matter in view of Based on the above procedures, we did not identify any significant deviation performed, we conclude that there is a material misstatement and completeness of the accounting records, relevant to the
the involvement of significant estimates by the management. to the assessment made by management in respect estimation of rebates,
of this other information; we are required to report that fact. We preparation and presentation of the financial statements that
discounts and sales returns.
have nothing to report in this regard.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
give a true and fair view and are free from material misstatement, cast significant doubt on the Company and its Joint venture’s communicated in our report because the adverse consequences Company and the reports of statutory auditors of its
whether due to fraud or error, which have been used for the ability to continue as a going concern. If we conclude that a of doing so would reasonably be expected to outweigh the public joint venture, none of the directors of the Company
purpose of the Consolidated Financial Statement by the Directors material uncertainty exists, we are required to draw attention interest benefits of such communication. and its joint-venture are disqualified as on 31st March,
of the Company, as aforesaid. in our auditor’s report to the related disclosures in the 2021 from being appointed as a director in terms of
consolidated financial statements or, if such disclosures are Other Matters Section 164(2) of the Act.;
In preparing the consolidated financial statements, the respective inadequate, to modify our opinion. Our conclusions are based
The consolidated financial statements includes the Company’s (f) With respect to the adequacy of the internal financial
management and Board of Directors of the Companies included on the audit evidence obtained up to the date of our auditor’s
share of net loss of ` 196.33 lakhs and other comprehensive controls with reference to consolidated financial
of the Company and its joint venture is responsible for assessing report. However, future events or conditions may cause the

Our performance
income of ` 1.96 lakhs for the year ended 31st March, 2021, statement of the Company and the operating
the Company and its joint venture’s ability to continue as a going company and its joint venture to cease to continue as a going
in respect of one joint venture, whose financial statements / effectiveness of such controls, refer to our separate
concern, disclosing, as applicable, matters related to going concern.
financial information have not been audited by us. These financial Report in “Annexure A”, which is based on the audit
concern and using the going concern basis of accounting unless
• Evaluate the overall presentation, structure and content of the statements have been audited by other auditors whose reports report of the company. Our report expresses an
management either intends to liquidate the Company and its joint
consolidated financial statements, including the disclosures, have been furnished to us by the management and our opinion unmodified opinion on the adequacy and operating
venture or to cease operations, or has no realistic alternative
and whether the consolidated financial statements represent on the Consolidated Ind AS financial statement, in so far as it effectiveness of the Company’s internal financial
but to do so. The respective Board of Directors of the Company
the underlying transactions and events in a manner that related to the amounts and disclosure included in respect of the controls over financial reporting. The joint venture has
and its joint venture are responsible for overseeing the financial
achieves fair presentation. joint venture and our report in terms of sub section 3 of section been exempted from the requirement of its auditor
reporting process of the Company and its joint-venture.
143 of the Act, in so far as it relates the aforesaid joint venture, reporting on whether the Company has adequate
• Obtain sufficient appropriate audit evidence regarding the
is based solely on the reports of the other auditors. internal financial controls in place and operating
Auditor’s Responsibilities for the Audit of the Consolidated financial information of the Company or business activities of
effectiveness of such controls (clause (i) of section

Strategic priorities
Financial Statements the Company and its Joint Venture to express an opinion on
Our opinion above on the consolidated financial statements, and 143(3));
the Consolidated Financial Statements. We are responsible
Our objectives are to obtain reasonable assurance about whether our report on Other Legal and Regulatory Requirements below, is
for the direction, supervision and performance of the audit (g) In our opinion, the managerial remuneration for the
the consolidated financial statements as a whole are free from not modified in respect of the above matters with respect to our
of the financial statements of such Company or business year ended 31st March, 2021 has been paid/ provided
material misstatement, whether due to fraud or error, and to reliance on the work done and the reports of the other auditors
activities included in the Consolidated Financial Statements of by the Company and its joint venture to its directors
issue an auditor’s report that includes our opinion. Reasonable and the financial statements and other financial information
which we are the independent auditors. For the Joint Venture in accordance with the provisions of section 197 read
assurance is a high level of assurance, but is not a guarantee that certified by the Management.
business activities included in the Consolidated Financial with Schedule V to the Act; and
an audit conducted in accordance with Standards on Auditing
Statements, which have been audited by other auditor, such
will always detect a material misstatement when it exists. Report on Other Legal and Regulatory Requirements (h) With respect to the other matters to be included in
other auditor remain responsible for the direction, supervision
170 Misstatements can arise from fraud or error and are considered the Auditor’s Report in accordance with Rule 11 of 171
and performance of the audits carried out by them. We remain 1. As required by section 143 (3) of the Act, based on our audit
material if, individually or in the aggregate, they could reasonably the Companies (Audit and Auditors) Rules, 2014,
solely responsible for our audit opinion. and on the consideration of the report of the other auditors
be expected to influence the economic decisions of users taken as amended, in our opinion and to the best of our
on the separate financial statements of the subsidiaries
on the basis of these financial statements. information and according to the explanations given
Materiality is the magnitude of misstatements in the consolidated referred to in the other matter paragraph above, we report,
to us:
financial statements that, individually or in aggregate, makes to the extent applicable that:
As part of an audit in accordance with Standards on Auditing,

ESG approach
it probable that the economic decisions of a reasonably (i) The Consolidated Ind AS financial statements has
we exercise professional judgment and maintain professional (a) We have sought and obtained all the information and
knowledgeable user of the consolidated financial statements disclosed the impact of pending litigations on its
scepticism throughout the audit. We also: explanations which to the best of our knowledge and
may be influenced. We consider quantitative materiality and Consolidated financial position of the Company
belief were necessary for the purposes of our audit.
• Identify and assess the risks of material misstatement of qualitative factors in (i) planning the scope of our audit work and its joint venture in its Consolidated financial
the consolidated financial statements, whether due to fraud and in evaluating the results of our work; and (ii) to evaluate (b) In our opinion, proper books of account as required statement- Refer Note 39;
or error, design and perform audit procedures responsive to the effect of any identified misstatements in the consolidated by law relating to the preparation of aforesaid
(ii) The Company and its joint venture did not have
those risks, and obtain audit evidence that is sufficient and financial statements. Consolidated Ind AS financial statements have been
any long-term contracts including derivative
appropriate to provide a basis for our opinion. The risk of not kept so far as it appears from our examination of those
contracts for which there were any material
detecting a material misstatement resulting from fraud is We communicate with those charged with governance regarding, books and reports of the other auditors.
foreseeable losses.
higher than for one resulting from error, as fraud may involve among other matters, the planned scope and timing of the
(c) The Consolidated Balance Sheet, the Consolidated
collusion, forgery, intentional omissions, misrepresentations, audit and significant audit findings, including any significant (iii) There was no amount which was required

Statutory reports
Statement of Profit and Loss (including Other
or the override of internal control. deficiencies in internal control that we identify during our audit. to be transferred to the Investor Education
Comprehensive Income), the Consolidated Cash Flow
and Protection Fund by the Company and its
• Obtain an understanding of internal control relevant to the Statement and Consolidated Statement of Changes
We also provide those charged with governance with a statement Joint Venture.
audit in order to design audit procedures that are appropriate in Equity dealt with by this Report are in agreement
that we have complied with relevant ethical requirements
in the circumstances. Under section 143(3)(i) of the Act, we with the relevant books of accounts maintained for
regarding independence, and to communicate with them For Singhi & Co.
are also responsible for expressing our opinion on whether the purpose of preparation of the Consolidated Ind AS
all relationships and other matters that may reasonably be Chartered Accountants
the Company has adequate internal financial controls with financial statements.
thought to bear on our independence, and where applicable, Firm Registration No.302049E
reference to financial statements in place and the operating
related safeguards. (d) In our opinion, the aforesaid Consolidated Ind AS
effectiveness of such controls.
financial statements comply with the Indian Accounting (SHRENIK MEHTA)

Financial statements
• Evaluate the appropriateness of accounting policies used From the matters communicated with those charged with Standards prescribed under section 133 of the Act Partner
and the reasonableness of accounting estimates and related governance, we determine those matters that were of most read with Companies (Indian Accounting Standards) Membership No. 063769
disclosures made by management. significance in the audit of the financial statements of the current Rules, 2015, as amended from time to time. UDIN: 21063769AAAAAQ3029
period and are therefore the key audit matters. We describe these
• Conclude on the appropriateness of management’s and Board (e) On the basis of the written representations received
matters in our auditor’s report unless law or regulation precludes Place: Kolkata
of Directors use of the going concern basis of accounting and, from the directors of the Company as on 31st March,
public disclosure about the matter or when, in extremely rare Dated: May 29, 2021
based on the audit evidence obtained, whether a material 2021 taken on record by the Board of Directors of the
circumstances, we determine that a matter should not be
uncertainty exists related to events or conditions that may

Annual Report 2020-21

 Dollar Industries Limited

Who we are
ANNEXURE “A” TO THE INDEPENDENT AUDITOR’S REPORT necessary to permit preparation of financial statements in
accordance with generally accepted accounting principles,
OPINION
8. In our opinion and to the best of the information and
and that receipts and expenditures of the Company are
explanations given to us, the Company has, in all material
being made only in accordance with authorizations of
respects, an adequate internal financial controls system
management and directors of the Company; and (3) provide
with reference to financial statements and such internal
reasonable assurance regarding prevention or timely
financial controls with reference to financial statements
detection of unauthorized acquisition, use, or disposition
(Referred to in paragraph 1 (f) under ‘Report on Other Legal and “Guidance Note”) and the Standards on Auditing, issued were operating effectively as at March 31, 2021, based on
of the company’s assets that could have a material effect

Our performance
Regulatory Requirements’ section of our report to the Members by ICAI and prescribed under section 143(10) of the the internal control with reference to financial statements
on the consolidated financial statements.
of Dollar Industries Limited of even date) Companies Act, 2013, to the extent applicable to an audit criteria established by the Company considering the
of internal financial controls, both applicable to an audit of essential components of internal control stated in the
Internal Financial Controls and both issued by the Institute INHERENT LIMITATIONS OF INTERNAL FINANCIAL Guidance Note on Audit of Internal Financial Controls Over
REPORT ON THE INTERNAL FINANCIAL CONTROLS
of Chartered Accountants of India. Those Standards and CONTROLS WITH REFERENCE TO FINANCIAL Financial Reporting issued by the Institute of Chartered
WITH REFERENCE TO FINANCIAL STATEMENT UNDER
the Guidance Note require that we comply with ethical STATEMENTS Accountants of India.
CLAUSE (I) OF SUB-SECTION 3 OF SECTION 143 OF
requirements and plan and perform the audit to obtain
THE COMPANIES ACT, 2013 (“THE ACT”) 7. Because of the inherent limitations of internal financial
reasonable assurance about whether adequate internal For Singhi & Co.
controls with reference to financial statements, including the
1. We have audited the internal financial controls with reference financial controls with reference to consolidated financial Chartered Accountants
possibility of collusion or improper management override
to financial statements of Dollar Industries Limited (“the statements was established and maintained and if such Firm Registration No.302049E
of controls, material misstatements due to error or fraud
Company”) as of March 31, 2021 in conjunction with controls operated effectively in all material respects.

Strategic priorities
may occur and not be detected. Also, projections of any
our audit of the consolidated financial statements of the (SHRENIK MEHTA)
evaluation of the internal financial controls with reference to
Company for the year ended on that date. The joint venture 4. Our audit involves performing procedures to obtain audit Partner
financial statements to future periods are subject to the risk
has been exempted from the requirement of its auditor evidence about the adequacy of the internal financial Membership No. 063769
that the internal financial control with reference to financial
reporting on whether the Company has adequate internal controls system with reference to financial statements UDIN: 21063769AAAAAQ3029
statements may become inadequate because of changes
financial controls with reference to financial statements in and their operating effectiveness. Our audit of internal
in conditions, or that the degree of compliance with the
place and operating effectiveness of such controls (clause financial controls with reference to financial statements Place: Kolkata
policies or procedures may deteriorate.
(i) of section 143(3)); included obtaining an understanding of internal financial Dated: May 29, 2021
controls with reference to financial statements, assessing
172 the risk that a material weakness exists, and testing and 173
MANAGEMENT’S RESPONSIBILITY FOR INTERNAL
evaluating the design and operating effectiveness of
FINANCIAL CONTROLS
internal control based on the assessed risk. The procedures
2. The Company’s management is responsible for establishing selected depend on the auditor’s judgment, including the
and maintaining internal financial controls based on the assessment of the risks of material misstatement of the
internal control with reference to financial statements consolidated financial statements, whether due to fraud

ESG approach
criteria established by the Company considering the or error.
essential components of internal control stated in the
Guidance Note on Audit of Internal Financial Controls over 5. We believe that the audit evidence we have obtained is
Financial Reporting issued by the Institute of Chartered sufficient and appropriate to provide a basis for our audit
Accountants of India (‘ICAI’). These responsibilities include opinion on the Company’s internal financial controls system
the design, implementation and maintenance of adequate with reference to consolidated financial statements.
internal financial controls that were operating effectively
for ensuring the orderly and efficient conduct of its
MEANING OF INTERNAL FINANCIAL CONTROLS WITH
business, including adherence to Company’s policies, the
REFERENCE TO FINANCIAL STATEMENTS
safeguarding of its assets, the prevention and detection of

Statutory reports
frauds and errors, the accuracy and completeness of the 6. A company’s internal financial control with reference to
accounting records, and the timely preparation of reliable financial statements is a process designed to provide
financial information, as required under the Companies Act, reasonable assurance regarding the reliability of financial
2013. reporting and the preparation of consolidated financial
statements for external purposes in accordance with
generally accepted accounting principles. A Company’s
AUDITOR’S RESPONSIBILITY
internal financial control with reference to financial
3. Our responsibility is to express an opinion on the Company’s statements includes those policies and procedures that (1)
internal financial controls with reference to consolidated pertain to the maintenance of records that, in reasonable
financial statements based on our audit. We conducted detail, accurately and fairly reflect the transactions and

Financial statements
our audit in accordance with the Guidance Note on Audit dispositions of the assets of the Company; (2) provide
of Internal Financial Controls over Financial Reporting (the reasonable assurance that transactions are recorded as

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Consolidated Balance sheet Consolidated Statement of Profit and Loss
as at March 31, 2021 for the year ended March 31, 2021

(` in Lacs) (` in Lacs)

Our performance
Particulars Notes As at March 31, 2021 As at March 31, 2020 Year Ended Year Ended
I ASSETS Particulars Note
March 31, 2021 March 31, 2020
NON-CURRENT ASSETS
a) Property, plant and equipment 5 7,882.15 6,888.66 INCOME
b) Capital work-in-progress 6 1,466.60 1,405.47 Revenue from operations 27 1,03,695.57 96,710.00
c) Right of use assets 7 638.23 539.64
d) Other intangible assets 8 3.68 4.12 Other income 28 348.13 471.20
e) Investment in joint venture 9 393.94 588.32
f) Financial assets
I Total Income 1,04,043.70 97,181.20
i) Investments 10 62.00 62.04 EXPENSES
ii) Loans 11 77.45 71.99
iii) Other financial assets 12 216.52 262.29 Cost of materials consumed 29 46,466.85 42,447.65
g) Non-current tax assets (net) 14 461.63 461.35 Changes in inventories of finished goods and work-in-progress 30 (1,939.06) 2,399.05
h) Other assets 13 147.00 55.83
i) Deferred tax assets (net) 14 109.30 131.41 Employee benefits expense 31 4,462.83 4,206.91
11,458.50 10,471.12 Finance costs 32 878.69 1,529.03

Strategic priorities
CURRENT ASSETS
a) Inventories 15 33,394.70 30,496.54 Depreciation and amortization expense 33 1,547.08 1,421.24
b) Financial assets Other expenses 34 40,896.70 37,198.43
i) Trade receivables 16 33,092.28 36,009.26
ii) Cash and cash equivalents 17 696.87 589.00 II Total Expenses 92,313.09 89,202.31
iii) Bank balances (other than above) 18 33.35 29.99 SHARE OF LOSS OF JOINT VENTURE (196.33) (211.02)
iv) Loans 11 37.17 34.29
v) Other financial assets 12 292.30 153.08 III PROFIT BEFORE TAX 11,534.28 7,767.87
c) Other assets 13 4,719.72 4,187.94 IV Tax Expenses 14
72,266.39 71,500.10
TOTAL ASSETS 83,724.89 81,971.22 Current Tax (incl. earlier years tax) 2,988.23 2,154.07
IIEQUITY AND LIABILITIES Deferred Tax 14.36 (120.56)
EQUITY
174 a) Equity share capital 19 1,134.32 1,134.32 Total Tax Expenses 3,002.59 2,033.51 175
b) Other equity 20 52,541.07 44,948.55 V PROFIT AFTER TAX 8,531.69 5,734.36
TOTAL EQUITY 53,675.39 46,082.87
LIABILITIES VI Other Comprehensive Income (OCI)
NON-CURRENT LIABILITIES Items that will not be reclassified to profit or loss 35
a) Financial liabilities
i) Borrowings 21 230.76 331.07 Re-measurement gain/(loss) on defined benefit plans 30.79 (74.64)

ESG approach
ii) Lease liabilities 22 205.05 256.14 Income tax relating to item above (7.75) 18.78
b) Provisions 23 518.67 397.06
954.48 984.27 Share of OCI in Joint venture 1.96 0.52
CURRENT LIABILITIES Other comprehensive income for the year (net of tax) 25.00 (55.34)
a) Financial liabilities
i) Borrowings 21 11,957.84 20,498.96 Total Comprehensive Income 8,556.69 5,679.02
ii) Lease liabilities 22 347.95 284.96
iii) Trade payables 24 VII Earnings per share (FV ` 2 each) 36
- Total outstanding dues of micro and small enterprises 15.18 11.95 Basic (`) 15.04 10.11
- Total outstanding dues of creditors other than micro 13,936.26 12,022.42
and small enterprises Diluted (`) 15.04 10.11
iv) Other financial liabilities 25 2,484.78 1,788.25
b) Other liabilities 26 341.46 290.05 See the accompanying notes forming part of the consolidated financial statements 1-51
c) Provisions 23 11.55 7.49
29,095.02 34,904.08
As per our report of even date attached
TOTAL LIABILITIES 30,049.50 35,888.35

Statutory reports
TOTAL EQUITY AND LIABILITIES 83,724.89 81,971.22
See the accompanying notes forming part of the consolidated 1-51 For Singhi & Co. For and on behalf of the Board of Directors of
financial statements
Chartered Accountants Dollar Industries Limited
As per our report of even date attached Firm Reg. No. 302049E CIN: L17299WB1993PLC058969

For Singhi & Co. For and on behalf of the Board of Directors of Shrenik Mehta Vinod Kumar Gupta Krishan Kumar Gupta
Chartered Accountants Dollar Industries Limited Partner Managing Director Whole Time Director
Firm Reg. No. 302049E CIN: L17299WB1993PLC058969 Membership No.: 063769 DIN: 00877949 DIN: 01982914

Shrenik Mehta Vinod Kumar Gupta Krishan Kumar Gupta Place: Kolkata Ankit Gupta Abhishek Mishra

Financial statements
Partner Managing Director Whole Time Director Date: May 29, 2021 Chief Financial Officer Company Secretary
Membership No.: 063769 DIN: 00877949 DIN: 01982914

Place: Kolkata Ankit Gupta Abhishek Mishra

Date: May 29, 2021 Chief Financial Officer Company Secretary

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Consolidated Statement of Changes in Equity Consolidated Statement of Cash Flow
for the year ended March 31, 2021 for the year ended March 31, 2021

(` in Lacs)
A) EQUITY SHARE CAPITAL

Our performance
(` in Lacs) Year Ended Year Ended
Particulars
March 31, 2021 March 31, 2020
Balance as at April 1, 2019 1,134.32
CASH FLOW FROM OPERATING ACTIVITIES
Add/(Less): Changes in equity share capital during the year -
Profit before tax 11,534.28 7,767.87
Balance at March 31, 2020 1,134.32
Adjustments for:
Add/(Less): Changes in equity share capital during the year -
Depreciation and amortisation 1,547.08 1,421.24
Balance at March 31, 2021 1,134.32
Provision for doubtful debts 100.81 135.10
Provision for doubtful other receivables 8.97
B) OTHER EQUITY Receivables written off 48.49 30.67
(` in Lacs) Provisions and liabilities written back (33.76) (88.58)
(Profit)/Loss on sale of property, plant and equipment (net) 1.48 (0.96)

Strategic priorities
Reserves and Surplus
Particulars Total
Securities Premium General Reserve Retained Earnings Deferred revenue - (2.93)
Balance at April 1, 2019 11,790.19 2,258.63 26,384.87 40,433.69 Unrealised foreign exchange fluctuations - 10.44
Profit for the year - - 5,734.36 5,734.36 Interest income (79.28) (8.21)
Remeasurement gain/(loss) on defined benefit obligation - - (74.64) (74.64) Provision for gratuity 165.87 121.41
Impact of tax - - 18.78 18.78 Finance costs 878.69 1,529.03
Share of OCI in Joint venture 0.52 0.52 Share of loss of Joint Venture 196.33 211.02
Total comprehensive income - - 5,679.02 5,679.02 Operating profit before working capital changes 14,368.96 11,126.10
Final dividend(i) - - (964.18) (964.18) Adjustments for:
176 Dividend distribution tax on dividend(i) - - (199.98) (199.98) (Increase)/ Decrease in trade receivables 2,767.69 (1,423.71) 177
Balance at March 31, 2020 11,790.19 2,258.63 30,899.73 44,948.55 (Increase)/ Decrease in inventories (2,898.16) 1,960.17
Profit for the year - - 8,531.69 8,531.69 (Increase)/ Decrease in loans, financial assets and other assets (707.46) (1,382.88)
Remeasurement gain/(loss) on defined benefit obligation - - 30.79 30.79 Increase/ (Decrease) in trade payables 1,950.82 (2,625.58)
Impact of tax - - (7.75) (7.75) Increase/ (Decrease) in financial liabilities and other liabilities 747.94 93.74

ESG approach
Share of OCI in Joint venture 1.96 1.96 Cash generated from Operating Activities 16,229.79 7,747.84
Total comprehensive income - - 8,556.69 8,556.69 Income Tax paid (net of refund) (2,988.51) (2,461.24)
Final dividend(i) - - (964.17) (964.17) A. NET CASH GENERATED/(USED IN) FROM OPERATING ACTIVITIES 13,241.28 5,286.60
Balance at March 31, 2021 11,790.19 2,258.63 38,492.25 52,541.07 Cash flow from Investing Activities
Purchase of Property, plant and equipment including Capital WIP and Right of Use (2,277.95) (2,245.45)
(i)  ividend paid during the year ended March 31, 2021 for the Financial Year 2019-20 is `1.70 per equity share of face value ` 2.00 each, fully paid up
D Purchase of intangible assets (1.66) -
(March 31, 2020: for the Financial Year 2018-19, `1.70 per equity share of face value `2.00 each, fully paid up). Sale of Property, plant and equipment 6.62 2.25
Investment in Joint Venture - (300.00)
The accompanying notes form an integral part of the consolidated financial statements 1-51 Purchase of investments in others - (21.76)
Sale of Investments 0.03 45.00
Interest received 79.28 8.21
As per our report of even date attached

Statutory reports
B. NET CASH GENERATED/(USED IN) INVESTING ACTIVITIES (2,193.68) (2,511.75)
For Singhi & Co. For and on behalf of the Board of Directors of
Chartered Accountants Dollar Industries Limited
Firm Reg. No. 302049E CIN: L17299WB1993PLC058969

Shrenik Mehta Vinod Kumar Gupta Krishan Kumar Gupta

Partner Managing Director Whole Time Director
Membership No.: 063769 DIN: 00877949 DIN: 01982914

Financial statements
Place: Kolkata Ankit Gupta Abhishek Mishra
Date: May 29, 2021 Chief Financial Officer Company Secretary

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Consolidated Statement of Cash Flow Notes forming part of the Consolidated Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

(` in Lacs)
1 CORPORATE AND GENERAL INFORMATION 2.2 Basis of measurement

Our performance
Year Ended Year Ended
Particulars
March 31, 2021 March 31, 2020 Dollar Industries Limited (the Company), was incorporated The consolidated financial statements have been prepared
Cash flow from Financing Activities in India in the year 1993. The Company is domiciled in India, on historical cost basis, except certain financial assets
Proceeds from non-current borrowings 41.09 - and has its registered office in Om Towers, 32, J.L Nehru and liabilities (including derivative instruments) that is
Repayments of non-current borrowings (141.40) (1,066.04) Road, Kolkata - 700 071. measured at fair value/amortised cost.
(Repayments)/Proceeds from current borrowings (net) (8,541.12) (268.17)
Repayments of lease liabilities (422.24) (254.97) The Company is a Public Limited Company incorporated as 2.3 Functional and presentation currency
Dividend paid (964.18) (964.18) per the provision of Companies Act applicable in India. The
The consolidated financial statements have been presented
Tax on dividend paid - (199.98) Company is primarily engaged in manufacture and sale of
in Indian Rupee (`), which is also the Company’s functional
Interest paid (911.88) (1,505.98) hosiery products in knitted inner wears, casual wears and
currency. All financial information presented in ` has been
C. NET CASH GENERATED/(USED IN) IN FINANCING ACTIVITIES (10,939.73) (4,259.32) thermal wears. It also has a Power Generation Unit sourced
rounded off to the nearest lakhs as per the requirements

Strategic priorities
D. NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS (A+B+C) 107.87 (1,484.47) from Windmill and Solar. The shares of the Company are
of Schedule III, unless otherwise stated.
Opening Cash and Cash Equivalents 589.00 2,073.47 listed on National Stock Exchange of India Limited and
Closing Cash and Cash Equivalents (Refer Note 17) 696.87 589.00 Bombay Stock Exchange.
2.4 Current/Non-current classification
Notes 1.1 BASIS OF CONSOLIDATION The Company presents assets and liabilities in
a) The above Consolidated Statement of Cash Flow has been prepared under the ‘Indirect Method’ as set out in Ind AS 7, the consolidated balance sheet based on current/
JOINT VENTURE
‘Statement of Cash Flows’. non‑current classification.
Interest in joint venture are accounted for using the equity
b) The composition of Cash and Cash Equivalent has been determined based on the Accounting Policy No. 3.8 method, after initially being recognised at cost. The carrying
The asset/liability is classified as current if it satisfies
178 amount of the investment is adjusted thereafter for the post 179
c) Statement of Reconcialiation of Financing Activities any of the following conditions:
(` in Lacs) acquisition change in the share of net assets of the investee,
• the asset/liability is expected to be realized/settled in
adjusted where necessary to ensure consistency with the
Term Loan Short Term the Company’s normal operating cycle;
Particulars
from Banks Borrowing accounting policies of the Company. The consolidated
statement of profit and loss includes the Company’s share • the asset is intended for sale or consumption;
Balances as at April 1, 2020 ( including interest accured thereon) 505.86 20,547.92
of the results of the operations of the investee. Dividends

ESG approach
Cash Flow (Net) (55.37) (8,541.12) • the asset/liability is held primarily for the purpose of
received or receivable from joint ventures are recognised
Non Cash Changes - - trading;
as a reduction in the carrying amount of the investment.
Fair Value changes - -
Unrealized gains on transactions between the Company and • the asset/liability is expected to be realized/settled
Others - -
joint ventures are eliminated to the extent of the Company’s within twelve months after the reporting period;
Interest Expenses 45.13 782.89
interest in these entities.
Interest Paid (42.31) (818.91) • the asset is cash or cash equivalent unless it is restricted
Balances as at March 31, 2021 ( including interest accured thereon) 453.31 11,970.78 from being exchanged or used to settle a liability for at
Details of significant investments in joint venture
least twelve months after the reporting date;
Name of Joint Venture Country of incorporation % of holding
d) Direct Taxes paid are treated as arising from operating activities and are not bifurcated between investing and financing activities.
Pepe Jeans Innerfashion India 50% • in the case of a liability, the Company does not have an
Private Limited unconditional right to defer settlement of the liability for
See the accompanying notes forming part of the consolidated financial statements 1-51

Statutory reports
at least twelve months after the reporting date.
As per our report of even date attached 2 BASIS OF ACCOUNTING The Company classifies all other assets and liabilities as
non-current.
For Singhi & Co. For and on behalf of the Board of Directors of 2.1 Statement of compliance
Chartered Accountants Dollar Industries Limited These consolidated financial statements have been prepared For the purpose of current/non-current classification of
Firm Reg. No. 302049E CIN: L17299WB1993PLC058969 in accordance with the Indian Accounting Standards (Ind assets and liabilities, the Company has ascertained its
AS) as prescribed by Ministry of Corporate Affairs pursuant normal operating cycle as twelve months. This is based on
Shrenik Mehta Vinod Kumar Gupta Krishan Kumar Gupta to Section 133 of the Companies Act, 2013 (the Act), read the nature of services and the time between the acquisition
Partner Managing Director Whole Time Director with the Companies (Indian Accounting Standards) Rules, of assets or inventories for processing and their realization

Financial statements
Membership No.: 063769 DIN: 00877949 DIN: 01982914 2015 (as amended), other relevant provisions of the Act and in cash and cash equivalents.
other accounting principles generally accepted in India.
Place: Kolkata Ankit Gupta Abhishek Mishra 2.5 Use of estimates and judgements
Date: May 29, 2021 Chief Financial Officer Company Secretary The consolidated financial statements of the Company for
The preparation of consolidated financial statements
the year ended March 31, 2021 have been approved by the
require judgements, estimates and assumptions to be
Board of Directors in their meeting held on May 29, 2021.
made that affect the reported amount of assets and

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Consolidated Financial Statements Notes forming part of the Consolidated Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

liabilities including contingent liabilities on the date of benefits associated with the cost incurred will flow to the implementation in so far as such expenses relate to the if required immediately, to its recoverable amount. On

Our performance
the consolidated financial statements and the reported Company and the cost of the item can be measured reliably. period prior to the commencement of commercial production. disposal of such investments, difference between the net
amount of revenues and expenses during the reporting The carrying amount of any component accounted for as a disposal proceeds and carrying amount is recognised in the
period. Difference between actual results and estimates separate asset is derecognized when replaced. 3.2 Intangible Assets consolidated statement of Profit and Loss.
are recognized in the period prospectively in which the
Software which is not an integral part of related hardware
results are known/materialized. Major Inspection/ Repairs/ Overhauling expenses are 3.4 Financial Instruments
is treated as intangible asset and are stated at cost on
recognized in the carrying amount of the item of property,
initial recognition and subsequently measured at cost less A financial instrument is any contract that gives rise to a
plant and equipment as a replacement if the recognition
3 SIGNIFICANT ACCOUNTING POLICIES accumulated amortization and accumulated impairment financial asset of one entity and a financial liability or equity
criteria are satisfied. Any unamortized part of the previously
loss, if any. instrument of another entity.
A summary of the significant accounting policies applied in recognized expenses of similar nature is derecognized.
the preparation of the consolidated financial statements
a) Recognition and Measurement a) Financial Assets
is as given below. These accounting policies have been Advances paid towards the acquisition of property, plant

Strategic priorities
Intangible Assets are stated at acquisition cost, net of Recognition and Initial Measurement:
applied consistently to all the periods presented in the and equipment outstanding at each consolidated balance
accumulated amortization and accumulated impairment All financial assets are initially recognized when the
consolidated financial statements. sheet date is classified as Capital Advances under other
losses, if any. Intangible assets are amortised on a straight Company becomes a party to the contractual provisions of
non-current assets.
line basis over their estimated useful economic lives. the instruments. A financial asset is initially measured at
3.1 Property, Plant and Equipment
fair value plus, in the case of financial assets not recorded
c) Depreciation and Amortization
a) Recognition and Measurement b) Subsequent Expenditure at fair value through profit or loss, transaction costs that
Depreciation is provided on written down method at the
Property, plant and equipment held for use in the production Subsequent costs are included in the asset’s carrying are attributable to the acquisition of the financial asset.
rates determined based on the useful lives of respective
or/and supply of goods or services, or for administrative amount, only when it is probable that future economic
assets as prescribed in the Schedule II of the Act.
purposes, are stated in the consolidated balance sheet at benefits associated with the cost incurred will flow to the Classification and Subsequent Measurement:
180 181
cost, less any accumulated depreciation and accumulated Company and the cost of the item can be measured reliably. For purposes of subsequent measurement, financial assets
As per the Above policy, depreciation on the solar plant
impairment losses (if any). All other expenditure is recognized in the Statement of Profit are classified in four categories:
have been provided at the rate which are different from
& Loss.
the corresponding rates prescribed in Schedule II based on • Measured at Amortized Cost;
Cost of an item of property, plant and equipment acquired
the estimated useful life of the project.
comprises its purchase price, including import duties and c) Amortization • Measured at Fair Value Through Other Comprehensive

ESG approach
non-refundable purchase taxes, after deducting any trade Useful life estimated Useful life as per • Intangible assets are amortized over a period of 3 years. Income (FVTOCI);
Particulars
discounts and rebates, any directly attributable costs of by the management schedule II
• The amortization period and the amortization method • Measured at Fair Value Through Profit or Loss (FVTPL);
bringing the assets to its working condition and location for Solar Plant 25 years -
are reviewed at least at the end of each financial year. and
its intended use and present value of any estimated cost of
If the expected useful life of the assets is significantly
dismantling and removing the item and restoring the site on Depreciation on additions (disposals) during the year is • Equity Instruments measured at Fair Value through Other
different from previous estimates, the amortization
which it is located. provided on a pro-rata basis i.e., from (up to) the date on Comprehensive Income (FVTOCI).
period is revised accordingly.
which asset is ready for use (disposed off).
Financial assets are not reclassified subsequent to their
In case of self-constructed assets, cost includes the
d) Disposal initial recognition, except if and in the period the Company
costs of all materials used in construction, direct labour, Depreciation method, useful lives and residual values
Gains or losses arising from the retirement or disposal of an changes its business model for managing financial assets.
allocation of directly attributable overheads, directly are reviewed at each financial year-end and adjusted
intangible asset are determined as the difference between
attributable borrowing costs incurred in bringing the item if appropriate.

Statutory reports
the net disposal proceeds and the carrying amount of 
Measured at Amortized Cost: A debt instrument is
to working condition for its intended use, and estimated
the asset and recognised as income or expense in the measured at the amortized cost if both the following
cost of dismantling and removing the item and restoring d) Disposal of Assets
Statement of Profit & Loss. conditions are met:
the site on which it is located. The costs of testing whether An item of property, plant and equipment is derecognized
the asset is functioning properly, after deducting the net upon disposal or when no future economic benefits are • T he asset is held within a business model whose
e) Intangible Assets under Development
proceeds from selling items produced while bringing the expected to arise from the continued use of the asset. objective is achieved by both collecting contractual cash
Intangible Assets under development is stated at cost which
asset to that location and condition are also added to the Any gain or loss arising on the disposal or retirement of an flows; and
includes expenses incurred in connection with development
cost of self-constructed assets. item of property, plant and equipment is determined as the
of Intangible Assets in so far as such expenses relate to the • T he contractual terms of the financial asset give rise on
difference between net disposal proceeds and the carrying
period prior to the getting the assets ready for use. specified dates to cash flows that are solely payments
If significant parts of an item of property, plant and amount of the asset and is recognized in the consolidated
of principal and interest (SPPI) on the principal amount

Financial statements
equipment have different useful lives, they are accounted Statement of Profit and Loss.
3.3 Investment in Joint Ventures outstanding.
for as separate items (major components) of property, plant
and equipment. e) Capital Work in Progress Investments in joint venture is carried at cost less After initial measurement, such financial assets are
Capital work-in-progress is stated at cost which includes accumulated impairment losses, if any. Where an indication subsequently measured at amortized cost using the
b) Subsequent Expenditure expenses incurred during construction period, interest of impairment exists, the carrying amount of investment effective interest rate (EIR) method.
Subsequent costs are included in the asset’s carrying on amount borrowed for acquisition of qualifying assets is assessed and an impairment provision is recognised,
amount, only when it is probable that future economic and other expenses incurred in connection with project

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Consolidated Financial Statements Notes forming part of the Consolidated Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021


Measured at FVTOCI: A debt instrument is measured at the Impairment of Financial Assets c) Derivative financial instruments Deferred tax is recognized in respect of temporary

Our performance
FVTOCI if both the following conditions are met: The Company assesses at each date of consolidated The Company enters into derivative financial instruments differences between the carrying amounts of assets
balance sheet whether a financial asset or a group of viz. foreign exchange forward contracts to manage its and liabilities for financial reporting purposes and the
• The objective of the business model is achieved by both
financial assets is impaired. Ind AS 109 requires expected exposure to interest rate and foreign exchange rate risks. corresponding amounts used for taxation purposes (i.e.,
collecting contractual cash flows and selling the financial
credit losses to be measured through a loss allowance. The Company does not hold derivative financial instruments tax base). Deferred tax is also recognized for carry forward
assets; and
The Company recognizes lifetime expected losses for all for speculative purposes. of unused tax losses and unused tax credits.
• The asset’s contractual cash flows represent SPPI. contract assets and/ or all trade receivables that do not
constitute a financing transaction. For all other financial Derivatives are initially recognised at fair value at the Deferred tax assets are recognized to the extent that it is
Debt instruments meeting these criteria are measured assets, expected credit losses are measured at an amount date the derivative contracts are entered into and are probable that taxable profit will be available against which
initially at fair value plus transaction costs. They are equal to the 12 month expected credit losses or at an subsequently remeasured to their fair value at the end the deductible temporary differences, and the carry forward
subsequently measured at fair value with any gains or amount equal to the life time expected credit losses if the of each reporting period. The resulting gain or loss is of unused tax credits and unused tax losses can be utilized.
losses arising on remeasurement recognized in other credit risk on the financial asset has increased significantly recognized in profit or loss immediately.

Strategic priorities
comprehensive income, except for impairment gains or since initial recognition. The carrying amount of deferred tax assets is reviewed at
losses and foreign exchange gains or losses. Interest 3.5 Impairment of Non-Financial Assets the end of each reporting period. The Company reduces the
calculated using the effective interest method is recognized b) Financial Liabilities carrying amount of a deferred tax asset to the extent that
The Company assesses, at each reporting date, whether
in the consolidated statement of Profit and Loss in Recognition and Initial Measurement it is no longer probable that sufficient taxable profit will be
there is an indication that an asset may be impaired. An
investment income. Financial liabilities are classified, at initial recognition, available to allow the benefit of part or that entire deferred
asset is treated as impaired when the carrying cost of the
as fair value through profit or loss, loans and borrowings, tax asset to be utilized. Any such reduction is reversed to
asset exceeds its recoverable value being higher of value

Measured at FVTPL: FVTPL is a residual category for debt payables or as derivatives, as appropriate. All financial the extent that it becomes probable that sufficient taxable
in use and net selling price. Value in use is computed at
instruments. Any debt instrument, which does not meet liabilities are recognized initially at fair value and, in the profit will be available.
net present value of cash flow expected over the balance
182 the criteria for categorization as amortized cost or as case of loans and borrowings and payables, net of directly 183
useful lives of the assets. For the purpose of assessing
FVTOCI, is classified as FVTPL. In addition, the Company attributable transaction costs. Deferred tax relating to items recognized outside the
impairment, assets are grouped at the lowest levels for
may elect to designate a debt instrument, which otherwise consolidated statement of Profit and Loss is recognized
which there are separately identifiable cash inflows which
meets amortized cost or FVTOCI criteria, as at FVTPL. Subsequent Measurement either in other comprehensive income or in equity. Deferred
are largely independent of the cash inflows from other
Debt instruments included within the FVTPL category are Financial liabilities are measured subsequently at amortized tax items are recognized in correlation to the underlying
assets or group of assets (Cash Generating Units – CGU).
measured at fair value with all changes recognized in the cost or FVTPL. A financial liability is classified as FVTPL if it transaction either in OCI or directly in equity.

ESG approach
consolidated statement of Profit and Loss. is classified as held-for-trading, or it is a derivative or it is
An impairment loss is recognized as an expense in the
designated as such on initial recognition. Financial liabilities 3.7 Inventories
consolidated statement of Profit and Loss in the year in
quity Instruments measured at FVTOCI: All equity
E at FVTPL are measured at fair value and net gains and
which an asset is identified as impaired. The impairment Inventories are valued at Cost or Net Realizable Value,
investments in scope of Ind AS 109 are measured at fair losses, including any interest expense, are recognized in
loss recognized in earlier accounting period is reversed if whichever is lower. Costs incurred in bringing each product
value. Equity instruments which are, held for trading are profit or loss. Other financial liabilities are subsequently
there has been an improvement in recoverable amount. to its present location and condition are as follows:
classified as at FVTPL. For all other equity instruments, the measured at amortized cost using the effective interest rate
Company may make an irrevocable election to present in method. Interest expense and foreign exchange gains and
3.6 Income Tax 
Raw materials, consumables, and packing materials:
other comprehensive income subsequent changes in the fair losses are recognized in profit or loss. Any gain or loss on
Cost includes cost of purchase and other costs incurred
value. The Company makes such election on an instrument- de-recognition is also recognized in consolidated statement Income Tax comprises current and deferred tax. It is
in bringing the inventories to their present location and
by-instrument basis. The classification is made on initial of Profit and Loss. recognized in the consolidated statement of Profit and Loss
condition. Cost is determined on a weighted average.

Statutory reports
recognition and is irrevocable. In case the Company decides except to the extent that it relates to an item recognized
to classify an equity instrument as at FVTOCI, then all fair De-recognition directly in equity or in other comprehensive income.
 ork-in-progress and Finished goods: Cost includes direct
W
value changes on the instrument, excluding dividends, are A financial liability is derecognized when the obligation
materials and labour and a proportion of manufacturing
recognized in the OCI. There is no recycling of the amounts under the liability is discharged or cancelled or expires. a) Current Tax
overheads based on normal operating capacity. Cost of
from OCI to P&L, even on sale of investment. Current tax liabilities (or assets) for the current and prior
work-in-progress, (measured in Kgs) is determined on
Offsetting financial instruments periods are measured at the amount expected to be paid
weighted average basis and cost of work-in-progress
Derecognition to (recovered from) the taxation authorities using the tax
Financial assets and liabilities are offset and the net amount (measured in Pieces) is determined on retail sales price
The Company derecognizes a financial asset on trade date rates (and tax laws) that have been enacted or substantively
reported in the consolidated balance sheet when there is a method. Cost of finished goods is determined on retail sales
only when the contractual rights to the cash flows from the enacted, at the end of the reporting period.
legally enforceable right to offset the recognized amounts price method.
asset expire, or when it transfers the financial asset and

Financial statements
and there is an intention to settle on a net basis or realize
substantially all the risks and rewards of ownership of the b) Deferred Tax
the asset and settle the liability simultaneously. The legally Net realizable value is the estimated selling price in the
asset to another entity. Deferred Tax assets and liabilities shall be measured at
enforceable right must not be contingent on future events ordinary course of business, less estimated costs of
the tax rates that are expected to apply to the period when
and must be enforceable in the normal course of business completion and estimated costs necessary to make
the asset is realized or the liability is settled based on tax
and in the event of default, insolvency or bankruptcy of the sale.
rates (and tax laws) that have been enacted or substantively
the counterparty.
enacted by the end of the reporting period.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Consolidated Financial Statements Notes forming part of the Consolidated Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

3.8 Cash and Cash Equivalents 3.10 Revenue Recognition d) Interest Income depreciation, accumulated impairment losses, if any and

Our performance
For all financial instruments measured at amortized cost, adjusted for any remeasurement of the lease liability. The
Cash and cash equivalents in the consolidated balance Revenue is recognized to the extent that it is probable that
Interest income is recorded using the effective interest rate right-of-use assets is depreciated using the straight-line
sheet comprise cash at banks and on hand and short term the economic benefits will flow to the Company and the
(EIR). EIR is the rate that exactly discounts the estimated method from the commencement date over the lease term
deposits with an original maturity of three months or less, revenue can be reliably measured, regardless of when the
future cash receipts over the expected lift of the financial or useful life of right-of-use asset.
which are subject to an insignificant risk of change in value. payment is being made. Revenue is measured at the fair
instrument or a shorter period, where appropriate, to the
value of the consideration received or receivable, taking
gross carrying amount of the financial asset. The estimated useful lives of right-of-use assets are
3.9 Provisions, Contingent Liabilities and Contingent into account contractually defined terms of payment
determined on the same basis as those of property,
Assets and excluding taxes or duties collected on behalf of
e) Dividend Income plant and equipment. Right-of-use assets are tested for
the Government.
a) Provisions Dividend Income from investments is recognized when the impairment whenever there is any indication that their
Provisions are recognized when there is a present obligation Company’s right to receive payment has been established. carrying amounts may not be recoverable. Impairment loss,
a) Sale of Goods
(legal or constructive) as a result of a past event and it if any, is recognised in the consolidated statement of Profit

Strategic priorities
Sale of goods is recognised at the point in time when control
is probable that an outflow of resources embodying 3.11 Government Grants and Loss.
of the goods is transferred to the customer. The revenue is
economic benefits will be required to settle the obligation
measured on the basis of the consideration defined in the Government grants are recognized at their fair values
and a reliable estimate can be made of the amount of the The Company measures the lease liability at the present
contract with a customer, including variable consideration, when there is reasonable assurance that the grants will be
obligation. Provisions are determined by discounting the value of the lease payments that are not paid at the
such as discounts, volume rebates, or other contractual received and the Company will comply with all the attached
expected future cash flows (representing the best estimate commencement date of the lease. The lease payments are
reductions. As the period between the date on which the conditions. When the grant relates to an expense item, it
of the expenditure required to settle the present obligation discounted using the interest rate implicit in the lease, if that
Company transfers the promised goods to the customer is recognized as income on a systematic basis over the
at the consolidated balance sheet date) at a pre-tax rate rate can be readily determined. If that rate cannot be readily
and the date on which the customer pays for these goods periods that the related costs, for which it is intended to
that reflects current market assessments of the time value determined, the Company uses incremental borrowing
is generally one year or less, no financing components are compensate, are expensed. Grants related to purchase
184 of money and the risks specific to the liability. The unwinding rate. For leases with reasonably similar characteristics, 185
taken into account. of property, plant and equipment are included in non-
of the discount is recognized as finance cost. the Company, on a lease by lease basis, may adopt either
financial liabilities as deferred income and are credited to
the incremental borrowing rate specific to the lease or the
Certain contracts provide a customer with a right to return the Statement Profit and Loss on a straight line basis over
b) Onerous Contracts incremental borrowing rate for the portfolio as a whole.
the goods within a specified period. The company uses the the expected useful life of the related asset and presented
Present obligations arising under onerous contracts are The lease payments shall include fixed payments, variable
expected value method to estimate the goods that will not within other operating revenue.
recognized and measured as provisions. An onerous lease payments, residual value guarantees, exercise price

ESG approach
be returned because this method best predicts the amount
contract is considered to exist when a contract under which of a purchase option where the Company is reasonably
of variable consideration to which the company will be 3.12 Leases
the unavoidable costs of meeting the obligations exceed the certain to exercise that option and payments of penalties
entitled. The requirements in Ind AS 115 on constraining
economic benefits expected to be received from it. A contract is, or contains, a lease if the contract conveys the for terminating the lease, if the lease term reflects the
estimates of variable consideration are also applied in
right to control the use of an identified asset for a period in lessee exercising an option to terminate the lease. The
order to determine the amount of variable consideration
c) Contingent Liabilities exchange for consideration. lease liability is subsequently remeasured by increasing
that can be included in the transaction price for goods
Contingent liability is a possible obligation arising from past the carrying amount to reflect interest on the lease liability,
that are expected to be returned instead of revenue the
events and the existence of which will be confirmed only by Company as a lessee reducing the carrying amount to reflect the lease payments
Company recognises a refund liability. A right of return
the occurrence or non-occurrence of one or more uncertain The Company accounts for each lease component made and re-measuring the carrying amount to reflect any
asset and corresponding adjustment to change in inventory
future events not wholly within the control of the Company within the contract as a lease separately from non-lease reassessment or lease modifications or to reflect revised in-
is also recognised for the right to recover products from
or a present obligation that arises from past events but is components of the contract and allocates the consideration substance fixed lease payments. The Company recognises
a customer.

Statutory reports
not recognized because it is not possible that an outflow of in the contract to each lease component on the basis of the the amount of the re-measurement of lease liability due
resources embodying economic benefit will be required to relative stand-alone price of the lease component and the to modification as an adjustment to the right-of-use asset
b) Sale of Services
settle the obligations or reliable estimate of the amount of aggregate stand-alone price of the non-lease components. and consolidated statement of Profit and Loss depending
In contracts involving the rendering of services, revenue is
the obligations cannot be made. The Company discloses upon the nature of modification. Where the carrying amount
measured using the completed service method.
the existence of contingent liabilities in other Notes to The Company recognises right-of-use asset representing of the right-of-use asset is reduced to zero and there is a
consolidated financial statements. its right to use the underlying asset for the lease term at further reduction in the measurement of the lease liability,
c) Other Operating Revenue
the lease commencement date. The cost of the right-of- the Company recognises any remaining amount of the re-
Export incentive and subsidies are recognized when there
d) Contingent Assets use asset measured at inception shall comprise of the measurement in consolidated statement of Profit and Loss.
is reasonable assurance that the Company will comply with
Contingent assets usually arise from unplanned or other amount of the initial measurement of the lease liability
the conditions and the incentive will be received. Insurance
unexpected events that give rise to the possibility of an adjusted for any lease payments made at or before the The Company has elected not to apply the requirements of

Financial statements
& other claims, where quantum of accruals cannot be
inflow of economic benefits. Contingent Assets are not commencement date less any lease incentives received, Ind AS 116 Leases to short-term leases of all assets that
ascertained with reasonable certainty are recognized
recognized though are disclosed, where an inflow of plus any initial direct costs incurred and an estimate have a lease term of 12 months or less and leases for which
as income only when revenue is virtually certain which
economic benefits is probable. of costs to be incurred by the lessee in dismantling and the underlying asset is of low value. The lease payments
generally coincides with receipt/acceptance.
removing the underlying asset or restoring the underlying associated with these leases are recognised as an expense
asset or site on which it is located. The right-of-use assets on a straight-line basis over the lease term.
is subsequently measured at cost less any accumulated

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Consolidated Financial Statements Notes forming part of the Consolidated Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

Lease liability and ROU asset have been disclosed 3.14 Employee Benefits 3.15 Borrowing Cost asset takes into account a market participant’s ability to

Our performance
separately on the face of the Balance Sheet and lease generate economic benefits by using the asset in its highest
a) Short Term Benefits Borrowing Costs consists of interest and other costs that
payments have been classified as financing cash flows. and best use or by selling it to another market participant
Short term employee benefit obligations are measured on an entity incurs in connection with the borrowings of funds.
that would use the asset in its highest and best use.
an undiscounted basis and are expensed as the related Borrowing costs also include exchange difference to the
Company as a lessor
services are provided. Liabilities for wages and salaries, extent regarded as an adjustment to the borrowing costs.
At the inception of the lease the Company classifies each The Company uses valuation techniques that are
including non-monetary benefits that are expected to be
of its leases as either an operating lease or a finance lease. appropriate in the circumstances and for which sufficient
settled wholly within twelve months after the end of the Borrowing costs directly attributable to the acquisition or
The Company recognises lease payments received under data are available to measure fair value, maximising the
period in which the employees render the related service construction of a qualifying asset are capitalized as a part
operating leases as income on a straight- line basis over use of relevant observable inputs and minimising the use
are recognized in respect of employees’ services up to the of the cost of that asset that necessarily takes a substantial
the lease term. In case of a finance lease, finance income of unobservable inputs.
end of the reporting period. period of time to complete and prepare the asset for its
is recognised over the lease term based on a pattern
intended use or sale. The Company considers a period of
reflecting a constant periodic rate of return on the lessor’s All assets and liabilities for which fair value is measured

Strategic priorities
b) Post-Employment Benefits twelve months or more as a substantial period of time.
net investment in the lease. When the Company is an or disclosed in the consolidated financial statements are
The Company operates the following post‑employment
intermediate lessor it accounts for its interests in the head categorised within the fair value hierarchy, described as
schemes: Transaction costs in respect of long term borrowing are
lease and the sub-lease separately. It assesses the lease follows, based on the input that is significant to the fair
amortized over the tenure of respective loans using
classification of a sub-lease with reference to the right-of- value measurement as a whole:
Defined Benefit Plans Effective Interest Rate (EIR) method. All other borrowing
use asset arising from the head lease, not with reference to
The liability or asset recognized in the consolidated balance costs are recognized in the consolidated statement of Profit • Level 1 — Quoted (unadjusted) market prices in active
the underlying asset. If a head lease is a short term lease to
sheet in respect of defined benefit plans is the present and Loss in the period in which they are incurred. markets for identical assets or liabilities
which the Company applies the exemption described above,
value of the defined benefit obligation at the end of the
then it classifies the sub-lease as an operating lease. If an • Level 2 — Inputs other than quoted prices included within
reporting period less the fair value of plan assets. The 3.16 Cash Flow Statement
186 arrangement contains lease and non-lease components, Level 1, that are observable for the asset or liability, 187
Company’s net obligation in respect of defined benefit
the Company applies Ind AS 115 Revenue from contracts Cash flows are reported using the indirect method, whereby either directly or indirectly; and
plans is calculated separately for each plan by estimating
with customers to allocate the consideration in the contract. profit for the period is adjusted for the effects of transactions
the amount of future benefit that employees have earned in • Level 3 — Inputs which are unobservable inputs for the
of a non-cash nature, any deferrals or accruals of past or
the current and prior periods. The defined benefit obligation asset or liability.
3.13 Foreign Currency Transactions future operating cash receipts or payments and item of
is calculated annually by Actuaries using the projected unit
income or expenses associated with investing or financing External valuers are involved for valuation of significant

ESG approach
The consolidated financial statements of the Company credit method.
cash flows. The cash flows from operating, investing and assets & liabilities. Involvement of external valuers is
are presented in Indian Rupees (`) which is the functional
financing activities of the Company are segregated. decided by the management of the Company considering
currency of the Company and the presentation currency of The liability recognized for defined benefit plans is the
the requirements of Ind AS and selection criteria include
the consolidated financial statements. present value of the defined benefit obligation at the
3.17 Measurement of Fair Values market knowledge, reputation, independence and whether
reporting date less the fair value of plan assets, together
professional standards are maintained.
Foreign currency transactions are translated into the with adjustments for unrecognized actuarial gains or losses A number of the Company’s accounting policies and
functional currency using the spot rates of exchanges and past service costs. The net interest cost is calculated by disclosures require the measurement of fair values, for both
3.18 Operating Segment
at the dates of the transactions. Monetary assets and applying the discount rate to the net balance of the defined financial and non-financial assets and liabilities.
liabilities denominated in foreign currencies are translated benefit obligation and the fair value of plan assets. The The Company’s business activity falls within a single
at the functional currency spot rate of exchanges at the benefits are discounted using the government securities Fair value is the price that would be received to sell an significant primary business segment i.e. ‘hosiery and
reporting date. (G-Sec) at the end of the reporting period that have terms asset or paid to transfer a liability in an orderly transaction related service’. They are reviewed regularly by the chief

Statutory reports
approximating to the terms of related obligation. between market participants at the measurement date. The operating decision maker to make decisions about
Foreign exchange gains and losses resulting from the fair value measurement is based on the presumption that resources to be allocated to the segments and assess
settlement of such transactions and from the translation Remeasurement of the net defined benefit obligation, the transaction to sell the asset or transfer the liability takes their performance.
of monetary assets and liabilities are generally recognized which comprise actuarial gains and losses, the return on place either:
in consolidated statement of Profit and Loss in the year in plan assets (excluding interest) and the effect of the asset 3.19 New Standards / Amendments to Existing Standard
• In the principal market for the asset or liability, or
which they arise except for exchange differences on foreign ceiling, are recognized in other comprehensive income. issued but not yet effective up to the date of issuance
currency borrowings relating to assets under construction Remeasurement recognized in other comprehensive • In the absence of a principal market, in the most of the Company’s Financial Statement:
for future productive use, which are included in the cost income is reflected immediately in retained earnings and advantageous market for the asset or liability.
Accounting policies have been consistently applied except
of those qualifying assets when they are regarded as an will not be reclassified to the consolidated statement of
where a newly issued accounting standard is initially

Financial statements
adjustment to interest costs on those foreign currency Profit and Loss. The principal or the most advantageous market must be
adopted or a revision to an existing accounting standard
borrowings, the balance is presented in the consolidated accessible by the Company. The fair value of an asset or
requires a change in the accounting policy hitherto in use.
statement of Profit and Loss within finance costs. Defined Contribution Plan a liability is measured using the assumptions that market
Ministry of Corporate Affairs on July 24, 2020 notified the
Defined contribution plans such as provident fund, ESI etc. participants would use when pricing the asset or liability,
Companies (Indian Accounting Standards) Amendment
Non-monetary items are not retranslated at period end are charged to the consolidated statement of Profit and assuming that market participants act in their economic
Rules, 2020, thereby amending the Rules of 2015. The
and are measured at historical cost (translated using the Loss as and when incurred. best interest. A fair value measurement of a non-financial
amendment introduces following changes to the Rules:
exchange rate at the transaction date).

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Consolidated Financial Statements Notes forming part of the Consolidated Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

• IND AS 103- Business Combination: Have defined Diluted earnings per share is computed using the weighted discount rates, medical cost trends, anticipation of future Where the expectation is different from the original estimate,

Our performance
“business” in more detail, an optional test to identify average number of shares and dilutive potential shares salary increases and the inflation rate. The Company such difference will impact the carrying value of the trade
concentration of fair value, element of Businesses and except where the result would be anti-dilutive. considers that the assumptions used to measure its and other receivables and doubtful debts expenses in the
Assessing whether an acquired process is substantive. obligations are appropriate. However, any changes in period in which such estimate has been changed.
these assumptions may have a material impact on the
• IND AS 107 - Disclosures to be made in respect of 4 SIGNIFICANT JUDGEMENTS AND KEY SOURCES
resulting calculations. h) Fair value measurement of financial instruments: When
financial instruments: Introducing a provision specifying OF ESTIMATION IN APPLYING ACCOUNTING
the fair values of financial assets and financial liabilities
the disclosures to be made where there is uncertainty POLICIES
Provisions and Contingencies: The assessments
e)  recorded in the consolidated balance sheet cannot be
due to Interest Rate Benchmark Reform.
Information about significant judgements and key sources undertaken in recognising provisions and contingencies measured based on quoted prices in active markets, their
• IND AS 109 - Financial reporting of financial assets of estimation made in applying accounting policies that have have been made in accordance with Indian Accounting fair value is measured using valuation techniques including
and financial liabilities: Providing detailed provisions the most significant effects on the amounts recognized in Standards (Ind AS) 37, ‘Provisions, Contingent Liabilities the Discounted Cash Flow model. The input to these models
for temporary exceptions from applying specific hedge the consolidated financial statements is included in the and Contingent Assets’. The evaluation of the likelihood are taken from observable markets where possible, but

Strategic priorities
accounting requirements and transition for hedge following notes: of the contingent events is applied best judgement by where this not feasible, a degree of judgement is required in
accounting. management regarding the probability of exposure to establishing fair values. Judgements include considerations
a) Revenue recognition: Revenue is recognised upon potential loss. of inputs such as liquidity risk, credit risk and volatility.
• IND AS 116 -Accounting for Leases: Related Rent
transfer of control of promised products or services to
concession- a clarification has been provided on
customers in an amount that reflects the consideration f) Impairment of Financial Assets: The Company reviews i) Extension and termination option in leases : Extension
accounting of Rent concessions, whether to treat as a
which the Company expects to receive in exchange for its carrying value of investments carried at amortized cost and termination options are included in many of the leases.
lease modifications or not.
those products or services. Revenue is measured based on annually, or more frequently when there is indication of In determining the lease term the Management considers
• IND AS 1 & 8 - Presentation of Financial Statements and the transaction price, which is the consideration, adjusted impairment. If recoverable amount is less than its carrying all facts and circumstances that create an economic
188 Accounting Policies, Changes in Accounting Estimates for volume discounts, price concessions and incentives, amount, the impairment loss is accounted for. incentive to exercise an extension option, or not exercise 189
and Errors: Changes have been made to the definition of if any, as specified in the contract with the customer. The a termination option. This assessment is reviewed if a
‘material’ in relation to material information. Company exercises judgment in determining whether the Allowances for Doubtful Debts: The Company makes
g)  significant event or a significant change in circumstances
performance obligation is satisfied at a point in time or over allowances for doubtful debts through appropriate occurs which affects this assessment and that is within the
• IND AS 10 - Events after the Reporting Period: Apart
a period of time. The Company considers indicators such as estimations of irrecoverable amount. The identification of control of the Company.
from disclosure of non-adjusting event, the disclosure of
how customer consumes benefits as services are rendered doubtful debts requires use of judgment and estimates.

ESG approach
an estimate of its financial effect should be made, or a
or who controls the asset as it is being created or existence
statement that such an estimate cannot be made.
of enforceable right to payment for performance to date
• IND AS 37 -Provisions, Contingent Liabilities and and alternate use of such product or service, transfer of
Contingent Assets: Clarification on accounting for significant risks and rewards to the customer, acceptance
restructuring plans. of delivery by the customer, etc.
The amendments listed above did not have any impact
b) Recognition of Deferred Tax Assets: The extent to which
on the amounts recognized in current period and are not
deferred tax assets can be recognized is based on an
expected to significantly affect the future periods.
assessment of the probability of the Company’s future
taxable income against which the deferred tax assets can
Ministry of Corporate Affairs notifies new standard or

Statutory reports
be utilized. In addition, significant judgement is required in
amendments to the existing standards. During the year, no
assessing the impact of any legal or economic limits.
new standard or modifications in existing standards has
been notified which will be applicable from April 1,2021
c) Useful lives of depreciable/ amortisable assets (tangible
or thereafter
and intangible): Management reviews its estimate of the useful
lives of depreciable/ amortisable assets at each reporting date,
3.20 Earnings per share
based on the expected utility of the assets. Uncertainties in
Basic earnings per share is computed by dividing profit these estimates relate to actual normal wear and tear that may
or loss for the year attributable to equity holders by the change the utility of plant and equipment.
weighted average number of shares outstanding during

Financial statements
the year. Partly paid up shares are included as fully paid d) Defined Benefit Obligation (DBO): Employee benefit
equivalents according to the fraction paid up. obligations are measured on the basis of actuarial
assumptions which include mortality and withdrawal rates
as well as assumptions concerning future developments in

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Consolidated Financial Statements Notes forming part of the Consolidated Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

5 PROPERTY, PLANT AND EQUIPMENT 7 RIGHT OF USE ASSETS

Our performance
The changes in the carrying value of property, plant and equipment for the year ended March 31, 2021 were as follows: The changes in the carrying value of Right of use assets for the year ended March 31, 2021 were as follows:
(` in Lacs)
(` in Lacs)
Gross carrying amount Accumulated depreciation Net
Gross carrying amount Accumulated depreciation Net carrying
carrying amount
Particulars As at As at As at As at
As at As at As at As at amount Addition/ Deletion/ Charge for Deduction/ as at
Particulars Addition/ Deletion/ Charge for Deduction/ April 1, March 31, April 1, March 31,
April 1, March 31, April 1, March 31, as at Adjustment Adjustment the year Adjustment March 31,
Adjustment Adjustment the year Adjustment 2020 2021 2020 2021
2020 2021 2020 2021 March 31, 2021
2021
Buildings 792.23 428.44 - 1,220.67 252.59 384.68 - 637.27 583.40
Freehold land 471.92 63.14 - 535.06 - - - - 535.06
Leasehold Land - 55.00 - 55.00 - 0.17 - 0.17 54.83
Buildings 2,486.06 20.76 - 2,506.82 797.55 160.92 - 958.47 1,548.35
Total 792.23 483.44 - 1,275.67 252.59 384.85 - 637.44 638.23

Strategic priorities
Plant and machinery 6,338.55 1,888.88 (13.53) 8,213.90 2,897.00 737.31 (6.55) 3,627.76 4,586.14
Electrical installations 282.88 - - 282.88 165.78 29.13 - 194.91 87.97
and equipment
The changes in the carrying value of Right of use assets for the year ended March 31, 2020 were as follows:
(` in Lacs)
Furniture and fittings 546.25 95.32 (0.03) 641.54 256.59 86.52 - 343.11 298.43
Gross carrying amount Accumulated amortization Net carrying
Motor vehicles 331.36 77.14 (4.35) 404.15 202.12 39.68 (3.31) 238.49 165.66 amount
Windmill 1,197.67 - - 1,197.67 486.93 90.51 - 577.44 620.23 Particulars As at As at As at As at as at
Addition/ Deletion/ Charge for Deduction/
April 1, March 31, April 1, March 31, March 31,
Laboratory equipment 45.51 0.12 - 45.63 29.96 4.04 - 34.00 11.63 Adjustment Adjustment the year Adjustment
2019 2020 2019 2020 2020
Computers 102.35 16.47 (0.34) 118.48 77.96 12.01 (0.17) 89.80 28.68
Buildings 792.23 - - 792.23 - 252.59 - 252.59 539.64
Total 11,802.55 2,161.83 (18.25) 13,946.13 4,913.89 1,160.12 (10.03) 6,063.98 7,882.15
Total 792.23 - - 792.23 - 252.59 - 252.59 539.64
190 191
Refer Note 42 for Right of use assets.
The changes in the carrying value of property, plant and equipment for the year ended March 31, 2020 were as follows:
(` in Lacs)
Gross carrying amount Accumulated depreciation
8 INTANGIBLE ASSETS
Net carrying
The changes in the carrying value of acquired intangible assets for the year ended March 31, 2021 were as follows:

ESG approach
amount
Particulars As at As at As at As at as at
Addition/ Deletion/ Charge for Deduction/ (` in Lacs)
April 1, March 31, April 1, March 31, March 31,
Adjustment Adjustment the year Adjustment
2019 2020 2019 2020 2020 Gross carrying amount Accumulated amortization Net
carrying
Freehold land 471.92 - - 471.92 - - - - 471.92 As at As at As at As at amount
Particulars Addition/ Deletion/ Charge for Deduction/
Buildings 2,443.82 42.24 - 2,486.06 623.45 174.10 - 797.55 1,688.51 April 1, March 31, April 1, March 31, as at
Adjustment Adjustment the year Adjustment March 31,
2020 2021 2020 2021
Plant and machinery 5,621.85 716.70 - 6,338.55 2,187.30 709.70 - 2,897.00 3,441.55 2021
Electrical installations and 242.07 40.81 - 282.88 131.65 34.13 - 165.78 117.10
Software 33.98 1.66 - 35.64 29.86 2.10 - 31.96 3.68
equipment
Total 33.98 1.66 - 35.64 29.86 2.10 - 31.96 3.68
Furniture and fittings 393.62 153.77 (1.14) 546.25 185.56 71.21 (0.18) 256.59 289.66
Motor vehicles 285.78 52.55 (6.97) 331.36 162.87 45.89 (6.64) 202.12 129.24
The changes in the carrying value of acquired intangible assets for the year ended March 31, 2020 were as follows:

Statutory reports
Windmill 1,181.67 16.00 - 1,197.67 383.80 103.13 - 486.93 710.74
Laboratory equipment 44.61 0.90 - 45.51 24.64 5.32 - 29.96 15.55 (` in Lacs)
Computers 82.75 19.60 - 102.35 59.55 18.41 - 77.96 24.39 Gross carrying amount Accumulated amortization
Net carrying
Total 10,768.09 1,042.57 (8.11) 11,802.55 3,758.82 1,161.89 (6.82) 4,913.89 6,888.66 amount
Particulars As at As at As at As at as at
Addition/ Deletion/ Charge for Deduction/
April 1, March 31, April 1, March 31, March 31,
Refer Note 21 for hypothecation of property, plant and equipment against borrowing. Adjustment Adjustment the year Adjustment
2019 2020 2019 2020 2020

Software 33.98 - - 33.98 23.09 6.77 - 29.86 4.12

6 CAPITAL WORK-IN-PROGRESS Total 33.98 - - 33.98 23.09 6.77 - 29.86 4.12
(` in Lacs)

Financial statements
As at As at
Particulars
March 31, 2021 March 31, 2020
Capital work-in-progress 1,466.60 1,405.47

Refer Note 13 for capital advances.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Consolidated Financial Statements Notes forming part of the Consolidated Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

9 INVESTMENT IN JOINT VENTURE 11 LOANS

Our performance
(` in Lacs) (` in Lacs)
As at As at As at As at
Particulars Particulars
March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020
Investment in equity shares at cost (unquoted) Non-current
1) PEPE Jeans Innerfashion Private Limited (1,00,00,000 equity shares 393.94 588.32 (Unsecured, considered good)
(March 31, 2020: 1,00,00,000 equity shares) of FV `10 each) Security deposits 77.45 71.99
393.94 588.32 77.45 71.99
Aggregate amount of unquoted investments 393.94 588.32 Current
(Unsecured, considered good)
9.1 The company holds 50% of the share capital in the Joint Venture Company. Security deposits 37.17 34.29
9.2 T he Company has no material joint venture as at March 31, 2021. The aggregate summarised financial information in respect 37.17 34.29

Strategic priorities
of the Company’s immaterial joint venture is accounted for using the equity method.
11.1 There are no outstanding debts from directors or officers of the Company.
9.3 Share of profit/(loss) of joint venture
(` in Lacs)

Particulars
As at As at 12 OTHER FINANCIAL ASSETS
March 31, 2021 March 31, 2020 (` in Lacs)
Company’s share in loss (608.02) (412.20) As at As at
Particulars
Company’s share in other comprehensive income 1.96 0.52 March 31, 2021 March 31, 2020
Company’s share in total comprehensive income (606.06) (411.68) Non-current
192 (Unsecured, considered good) 193
10 INVESTMENTS Utility Deposits 216.52 262.29
(` in Lacs) 216.52 262.29
As at As at Current
Particulars
March 31, 2021 March 31, 2020 (Unsecured, considered good)

ESG approach
Investment in equity shares (unquoted) Other financial assets 292.30 153.08
1) Ind-Barath Power Gencom Limited 29.94 29.94 292.30 153.08
(2,99,364 shares (March 31, 2020: 2,99,364 shares) of FV `10 each)
2) Suryadev Alloys and Power Private Limited 0.34 0.34
12.1 Other financial assets include advances against salary to employees and provision for Mark to Market income on forward
(250 shares (March 31, 2020: 250 shares) of FV `10 each)
booking of contracts.
3) Bahadurgarh Footwear Development Services Private Limited 10.00 10.00
(20 shares (March 31, 2020: 20 shares) of FV `50,000 each)
4) Vijayanth Developers Private Limited - 0.04 13 OTHER ASSETS
(Nil (March 31, 2020: 329 shares) of FV `10 each) (` in Lacs)
5) Arkay Energy (Rameswaram) Limited 21.72 21.72 As at As at
Particulars
(2,17,252 shares (March 31, 2020: 2,17,252 shares) of FV `10 each) March 31, 2021 March 31, 2020
Non-current

Statutory reports
62.00 62.04
Aggregate amount of unquoted investments 62.00 62.04 Capital Advances 141.00 50.23
Prepaid expenses 6.00 5.60
10.1 The Company has invested in shares of Ind-Barath Power Gencom Limited, Suryadev Alloys and Power Private Limited, Vijayanth 147.00 55.83
Developers Private Limited and Arkay Energy (Rameswaram) Limited for procurement of power towards captive consumption Current
in Tirupur unit. The management anticipates that the termination of contract in future (if any) would be at cost i.e. the amount Balances with Government and statutory authorities 3,881.66 3,128.58
invested. Since the investment has been made only for consuming the power and not for any financial reasons, hence the Incentives and subsidies receivable
same is valued at cost, deemed to be at fair value. During the year, 329 equity shares of Vijayanth Developers Private Limited Unsecured, considered good 239.22 480.95
were sold. Unsecured, considered doubtful 8.97 -
Less: Allowance for expected credit losses (8.97) -

Financial statements
10.2 The Company has invested in shares of Bahadurgarh Footwear Development Services Private Limited in FY 2018-19 to 239.22 480.95
procure land. Advances against supply of goods and services 233.17 313.17
Prepaid expenses 106.61 76.82
Others (Unsecured, considered good) 259.06 188.42
4,719.72 4,187.94

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Consolidated Financial Statements Notes forming part of the Consolidated Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

13.1 Balances with Government and statutory authorities include input credit entitlements and other indirect taxes receivable. C Deferred tax assets and liabilities

Our performance
(` in Lacs)
13.2 Others include amounts claimed from parties on account of business obligations. Particulars
As at As at
March 31, 2021 March 31, 2020
Deferred tax liabilities
14 INCOME TAXES Depreciation and amortization 179.35 77.22
A Components of Income tax expense 179.35 77.22
(` in Lacs) Deferred tax assets
Year ended Year ended Retirement benefits 150.49 121.22
Particulars
March 31, 2021 March 31, 2020 Others 138.16 87.41
Income tax recognised in Statement of Profit and Loss 288.65 208.63
Current tax 2,988.23 2,154.07 Deferred tax assets/(liabilities) 109.30 131.41

Strategic priorities
Deferred tax 14.36 (120.56)
3,002.59 2,033.51 Movement in deferred tax assets and liabilities during the year ended March 31, 2021 and March 31, 2020
(` in Lacs)
Reconciliation of estimated Income tax expense at Indian statutory Income tax rate to income tax expense reported in Recognised in Recognised in Other
As at Statement Comprehensive As at
Statement of Profit and Loss Particulars
April 1, 2020 of Profit and Loss Income during March 31, 2021
(` in Lacs)
during the year the year
Year ended Year ended
Particulars Deferred tax liabilities
March 31, 2021 March 31, 2020
- Depreciation and amortization 77.22 102.13 - 179.35
Accounting profit before income tax 11,730.61 7,978.89
194 - Others - - 195
Indian statutory income tax rate 25.168% 25.168%
77.22 102.13 - 179.35
Estimated income tax expenses 2,952.36 2,008.13
Deferred tax assets
Tax effect on:
- Retirement benefits 121.22 37.02 (7.75) 150.49
Temporary items non-deductible 1.15 1.48
- Others 87.41 50.75 - 138.16
Permanent items non-deductible 49.08 23.90

ESG approach
208.63 87.77 (7.75) 288.65
Total 3,002.59 2,033.51
Income tax expenses in the Statement of Profit and Loss 3,002.59 2,033.51
(` in Lacs)
Recognised in Recognised in Other
B Tax assets and liabilities
As at Statement Comprehensive As at
(` in Lacs) Particulars
April 1, 2019 of Profit and Loss Income during March 31, 2020
As at As at during the year the year
Particulars
March 31, 2021 March 31, 2020
Deferred tax liabilities
Advance tax paid and Tax deducted at source 3,236.39 2,413.32 - Depreciation and amortization 44.07 33.15 - 77.22
Less: Provision for income tax (2,988.23) (2,154.07) - Others 6.81 (6.81) -
Net tax assets/(liabilities) 248.16 259.25 50.88 26.34 - 77.22

Statutory reports
Deferred tax assets
Other non-current tax assets (Refer (i) below) 213.47 202.10 - Retirement benefits (3.80) 106.24 18.78 121.22
- Others 46.75 40.66 - 87.41
Total non-current tax assets 461.63 461.35 42.95 146.90 18.78 208.63

i) Other non-current tax assets relate to income tax receivables and amounts paid under protest in respect of demands
and claims from regulatory authorities.

Financial statements
Annual Report 2020-21
 Dollar Industries Limited

Who we are
Notes forming part of the Consolidated Financial Statements Notes forming part of the Consolidated Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

15 INVENTORIES (AS AT COST OR NET REALISABLE VALUE, WHICHEVER IS LOWER) 18 BANK BALANCES (OTHER THAN ABOVE)

Our performance
(` in Lacs) (` in Lacs)
As at As at As at As at
Particulars Particulars
March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020
Raw materials 6,774.75 5,815.65 Earmarked balances with banks
Work-in-progress 11,878.29 10,235.14 - Fixed deposits 32.24 29.14
Finished goods 14,741.66 14,445.75 - Unclaimed dividend 1.11 0.85
33,394.70 30,496.54 33.35 29.99
Included above, goods-in-transit
Raw materials 44.39 46.89 18.1 Fixed deposits earmarked with banks relate to balances held as security against borrowings and other trade commitments.
Finished goods 37.88 99.64
82.27 146.53

Strategic priorities
19 EQUITY SHARE CAPITAL
(` in Lacs)
16 TRADE RECEIVABLES Particulars
As at As at
(` in Lacs) March 31, 2021 March 31, 2020
As at As at Authorized
Particulars
March 31, 2021 March 31, 2020 5,75,00,000 equity shares (March 31, 2020: 5,75,00,000 equity shares) of face value ` 2 each 1,150.00 1,150.00
Secured, considered good 1,337.17 968.58 fully paid-up
Unsecured, considered good 31,755.11 35,040.68 Issued, subscribed and paid-up
Credit impaired 330.48 229.67 5,67,16,120 equity shares (March 31, 2020: 5,67,16,120 equity shares) of face value ` 2 each 1,134.32 1,134.32
196 33,422.76 36,238.93 fully paid-up 197
Less: Allowance for expected credit losses (330.48) (229.67) 1,134.32 1,134.32
33,092.28 36,009.26
19.1 Reconciliation of equity shares outstanding at the beginning and at the end of the year
16.1 In determining allowance for credit losses of trade receivables, the Company has used the practical expedient by computing As at March 31, 2021 As at March 31, 2020

ESG approach
Particulars
the expected credit loss allowance based on a provision matrix. The provision matrix takes into account historical credit loss No of Shares ` in Lacs No of Shares ` in Lacs
experience and is adjusted for forward looking information. The expected credit loss allowance is based on ageing of the Equity shares at the beginning of the year 5,67,16,120 1,134.32 5,67,16,120 1,134.32
receivables and rates used in the provision matrix. Add/(Less): Changes during the year - - - -
Equity shares at the end of the year 5,67,16,120 1,134.32 5,67,16,120 1,134.32
16.2 The Company considers its maximum exposure to credit risk with respect to customers as at March 31, 2021 to be ` 33,092.28
lacs (March 31, 2020: `36,009.26 lacs), which is the carrying value of trade receivables after allowance for credit losses.
19.2 Details of shareholders holding more than 5% shares in the Company
The Company’s exposure to customers is diversified and no single customer contributes more than 10% of the outstanding As at March 31, 2021 As at March 31, 2020
Particulars
receivables as at March 31, 2021 and March 31, 2020. No of Shares % holding No of Shares % holding
Dollar Holding Private Limited 2,62,45,534 46.28% 2,56,41,256 45.21%
16.3 There are no outstanding receivables due from directors or other officers of the Company. (Formerly Simplex Impex Private Limited)

Statutory reports
V K Mercantile Private Limited 72,75,760 12.83% 72,75,760 12.83%
17 CASH AND CASH EQUIVALENTS 3,35,21,294 59.11% 3,29,17,016 58.04%
(` in Lacs)
As at As at
Particulars 19.3 Rights, preferences and restrictions attached to shares
March 31, 2021 March 31, 2020
Balances with bank The Company has one class of issued shares i.e. equity shares having par value of ` 2 per share. Each holder of ordinary shares
- in current accounts 680.84 568.32 is entitled to one vote per share. The dividend proposed by Board of Directors is subject to approval of the shareholders in the
Cash on hand 16.03 20.68 ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation of the Company, the holders of
696.87 589.00 equity shares will be entitled to receive the remaining assets of the Company in proportion to the number of equity shares held.

Financial statements
19.4 The Company does not have any holding Company or ultimate holding Company.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Consolidated Financial Statements Notes forming part of the Consolidated Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

19.5 No shares have been reserved for issue under options and contracts/ commitments for the sale of shares/ disinvestment as 20.3 Retained earnings

Our performance
at the balance sheet date.
Retained earnings are the profits that the Company has earned till date, less any transfers to general reserve, dividends or
other distributions paid to shareholders.
19.6 No convertible securities has been issued by the Company during the year.

19.7 No calls are unpaid by any Director and officer of the Company during the year. 21 BORROWINGS
As at March 31, 2021 As at March 31, 2020
Particulars
20 OTHER EQUITY Non-current Current Non-current Current
(` in Lacs) Secured
As at As at Term loan from banks 230.76 213.86 331.07 168.92
Particulars
March 31, 2021 March 31, 2020 Commercial paper - - - 4,854.31

Strategic priorities
Securities premium 20.1 11,790.19 11,790.19 Repayable on demand from banks - 11,631.48 - 15,099.65
General reserve 20.2 2,258.63 2,258.63 Unsecured
Retained earnings 20.3 38,492.25 30,899.73 Loan from body corporate - 326.36 - 545.00
52,541.07 44,948.55 Less: Amount disclosed under ‘Other financial liabilities’ (Refer - (213.86) - (168.92)
Note 25)
(a) The details of movement in components of Other equity is mentioned below: 230.76 11,957.84 331.07 20,498.96

(` in Lacs)
As at As at
21.1 Nature of security
198 Particulars 199
March 31, 2021 March 31, 2020
a) Term loan from ICICI Bank is secured by exclusive charge on the capital assets procured out of the proceeds of the respective loan.
20.1 Securities premium
Balance at the beginning of the year 11,790.19 11,790.19 b) Term loan from Allahabad Bank is secured by exclusive first charge over the assets acquired out of the proceeds of the respective
Add/(Less): Changes during the year - - loan and situated at NH 7, V. Paddukottal, Tamilnadu.
Balance at the end of the year 11,790.19 11,790.19

ESG approach
20.2 General reserve* c) Term loan from HDFC Bank is secured by exclusive charge on the capital assets procured out of the proceeds of the
Balance at the beginning of the year 2,258.63 2,258.63 respective loan.
Add/(Less): Changes during the year - -
Balance at the end of the year 2,258.63 2,258.63 d) Working capital loan from consortium member banks are secured by way of hypothecation charge over entire current assets viz.
* includes ` 1,253.63 lacs arising on amalgamation raw materials, stock-in-trade and book debts both present and future ranking pari passu with other consortium member banks.
20.3 Retained earnings
Balance at the beginning of the year 30,899.73 26,384.87 21.2 Repayment terms of loans outstanding as at March 31, 2021
Add: Profit for the year 8,531.69 5,734.36
a) Allahabad Bank term loan V amounting ` 365.56 lacs (March 31, 2020: ` 437.65 lacs) is repayable in 19 equal quarterly
Add: Actuarial gain/(loss) on defined benefit obligation 30.79 (74.64) instalments beginning from June, 2019, the next instalment is due in June, 2021.
Less: Tax on the above (7.75) 18.78

Statutory reports
Add: Share of OCI in Joint venture 1.96 0.52 b) ICICI Bank term loan IV amounting ` 30.14 lacs (March 31, 2020: ` 50.23 lacs) is repayable in 16 equal quarterly instalments
39,456.42 32,063.89 beginning from October, 2018, the next instalment is due in April, 2021.
Less: Appropriation
Dividend (964.17) (964.18) c) Allahabad Bank term loan IV amounting ` 9.89 lacs (March 31, 2020: ` 12.11 lacs) is repayable in 16 equal quarterly instalments
Tax on dividend - (199.98) beginning from November, 2018, the next instalment is due in June, 2021.
Balance at the end of the year 38,492.25 30,899.73
d) HDFC Bank term loan amounting ` 39.03 lacs (March 31, 2020: Nil) is repayable in 20 equal quarterly instalments beginning
(b) Nature and purpose of reserves from February, 2021, the next instalment is due in May, 2021.
20.1 Securities premium
e) Commercial paper has been repaid during the year.

Financial statements
Securities premium represents premium received on issue of shares. The reserve is utilised in accordance with the provisions
of the Companies Act, 2013. f) Working capital loans from banks amounting to ` 11631.48 lacs (March 31, 2020: ` 19,953.96 lacs) is repayable on demand.

20.2 General reserve g) The loan from body corporate amounting to ` 326.36 lacs (March 31, 2020: ` 545.00 lacs) is repayable on demand.
General reserve is created out of the profits transferred from the earnings during the year. It is available for distribution to
21.3 Interest rates on the above loans from banks and body corporate between 4.50% to 9.35% p.a.
the shareholders.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Consolidated Financial Statements Notes forming part of the Consolidated Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

22 LEASE LIABILITIES 25 OTHER FINANCIAL LIABILITIES

Our performance
(` in Lacs) (` in Lacs)
As at As at As at As at
Particulars Particulars
March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020
Non-current Current maturities of long term debt 213.86 168.92
Lease liabilities (Refer Note 42) 205.05 256.14 Book overdraft - 77.54
205.05 256.14 Unclaimed dividend 1.11 0.85
Current Trade and security deposits (Dealer's deposits) 1,599.24 1,231.65
Lease liabilities (Refer Note 42) 347.95 284.96 Interest accrued but not due on borrowings 21.63 54.82
347.95 284.96 Employee related liabilities 638.39 241.39
Other payables 10.55 13.08
2,484.78 1,788.25

Strategic priorities
23 PROVISIONS
(` in Lacs)
As at As at
25.1 Book overdraft relate to overdraft balances of current bank accounts.
Particulars
March 31, 2021 March 31, 2020
Non-current 25.2 Other payables include provision for Mark to Market losses on forward booking of contracts.
Provision for employee benefits (Refer Note 37) 518.67 397.06
518.67 397.06 26 OTHER LIABILITIES
Current (` in Lacs)
Provision for employee benefits (Refer Note 37) 11.55 7.49 As at As at
200 Particulars 201
11.55 7.49 March 31, 2021 March 31, 2020
Current
Advance from customers 181.45 178.14
24 TRADE PAYABLES Statutory dues 160.01 111.91
(` in Lacs)
341.46 290.05
As at As at

ESG approach
Particulars
March 31, 2021 March 31, 2020
26.1 Statutory dues primarily relate to payables in respect of GST, provident funds and tax deducted at source.
Total outstanding dues of micro and small enterprises
Creditors for supply of goods and services 15.18 11.95
Total outstanding dues of creditors other than micro and small enterprises 27 REVENUE FROM OPERATIONS
(` in Lacs)
Creditors for supply of goods and services 13,936.26 12,022.42
Year ended Year ended
13,951.44 12,034.37 Particulars
March 31, 2021 March 31, 2020
Sale of products 1,01,583.93 94,805.87
24.1 Amount due to micro and small enterprises as defined in the “The Micro, Small and Medium Enterprises Development Act, Other operating revenue
2006” has been determined to the extent such parties have been identified on the basis of information available with the Job work charges 867.67 393.56
Company. The disclosures relating to micro and small enterprises is as below: Sale of by-products/cotton waste 946.99 1,011.50

Statutory reports
(` in Lacs)
Duty drawback, incentives and others 160.20 270.84
Particulars 2020-21 2019-20 Sale of import licence 136.78 155.11
(a) Principal amount remaining unpaid to supplier at the end of the year. 14.98 11.95 Claims and discounts - 73.12
(b) Interest due thereon remaining unpaid to supplier at the end of the year. 0.20 - 1,03,695.57 96,710.00
(c) The amount of interest paid by the buyer in terms of section 16 of The MSMED Act, 2006, - - 27.1 Nature of goods and services
along with the amount of the payment made to the supplier beyond the appointed day during
the year. The Company is engaged in the manufacturing of garments and hosiery products and generates revenue from the sale of the
(d) Amount of interest due and payable for the period of delay in making payment (which have - - same. It is also the only reportable segment of the Company.
been paid but beyond the appointed day during the year) but without adding the interest

Financial statements
specified under this Act. 27.2 Disaggregation of revenue for the year
(e) Amount of interest accrued and remaining unpaid at the end of the year. 0.20 -
(f) The amount of further interest remaining due and payable even in the succeeding years, until such - - In the following table, revenue is disaggregated by primary geographical market, major products lines and timing of revenue
date when the interest dues above are actually paid to the small enterprises, for the purpose of recognition etc.
disallowance of a deductible expenditure under section 23 of The MSMED Act, 2006.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Consolidated Financial Statements Notes forming part of the Consolidated Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

Disaggregation of revenue 28 OTHER INCOME

Our performance
(` in Lacs) (` in Lacs)
Year ended Year ended Year ended Year ended
Particulars Particulars
March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020
- based on major products Interest income
Garments and hosiery products 1,01,583.93 94,805.87 On bank deposits 3.98 1.59
Others - - On others 75.30 6.62
1,01,583.93 94,805.87 79.28 8.21
- based on geographical region Other non-operating income
India 95,308.84 87,922.16 Profit on sale of Property, plant and equipment (net) - 0.96
Outside India 6,275.09 6,883.71 Insurance claim 96.11 182.81
1,01,583.93 94,805.87 Net gain on foreign currency transaction and translation 75.46 140.17

Strategic priorities
- based on timing of revenue Government grant - 2.93
At a point in time 1,01,583.93 94,805.87 Provisions/Liabilities written back 33.76 88.58
Over time - - Others 63.52 47.54
1,01,583.93 94,805.87 268.85 462.99
- based on contract duration 348.13 471.20
Long term - -
Short term 1,01,583.93 94,805.87
1,01,583.93 94,805.87 29 COST OF MATERIALS CONSUMED
202 (` in Lacs) 203
Year ended Year ended
27.3 Contract balances Particulars
March 31, 2021 March 31, 2020

The following table provides information about receivables, contract assets and contract liabilities from contracts with customers. Raw material at the beginning of the year 5,815.65 5,376.77
Add: Purchases (including in-transit purchases) 47,425.95 42,886.53
Contract balances Less: Raw material at the end of the year (6,774.75) (5,815.65)

ESG approach
(` in Lacs) 46,466.85 42,447.65
As at As at
Particulars
March 31, 2021 March 31, 2020
Receivables, which are included in ‘Trade receivables’ 33,092.28 36,009.26 30 CHANGES IN INVENTORIES OF FINISHED GOODS AND WORK-IN-PROGRESS
(` in Lacs)
Contract assets - -
Year ended Year ended
Contract liabilities 181.45 178.14 Particulars
March 31, 2021 March 31, 2020
33,273.73 36,187.40
Inventories at the end of the period
Finished goods 14,741.66 14,445.75
27.4 Other information Work-in-progress 11,878.29 10,235.14
26,619.95 24,680.89
Transaction price allocated to the remaining performance obligations Nil

Statutory reports
Inventories at the beginning of the period
The amount of revenue recognised in the current period that was included in the opening contract liability balance. Nil
Finished goods 14,445.75 16,699.88
Performance obligations- The Company satisfies the performance obligation on shipment/ dispatch, as the case may be. Work-in-progress 10,235.14 10,380.06
24,680.89 27,079.94
27.5 Reconciliation of amount of revenue recognised in the Statement of Profit and Loss with contracted price Increase/(decrease) during the year (1,939.06) 2,399.05
(` in Lacs)

Particulars
Year ended Year ended 31 EMPLOYEE BENEFITS EXPENSE
March 31, 2021 March 31, 2020 (` in Lacs)
Revenue as per contracted price 1,07,867.46 99,028.86 Year ended Year ended

Financial statements
Particulars
Less: Provision for sales on return basis (35.32) (128.35) March 31, 2021 March 31, 2020
Less: Dealers' incentives, schemes and discounts (6,248.21) (4,094.64) Salary and wages 4,066.98 3,844.70
Revenue from contract with customers 1,01,583.93 94,805.87 Contribution to provident and other funds 299.09 244.29
Staff welfare expenses 96.76 117.92
4,462.83 4,206.91

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Consolidated Financial Statements Notes forming part of the Consolidated Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

(` in Lacs)
31.1 During the year, the Company recognised an amount of `375.64 lacs (Previous Year 2019-20: `348.00 lacs) as remuneration

Our performance
Year ended Year ended
to key managerial personnel on account of short-term employee benefits. Particulars
March 31, 2021 March 31, 2020
Royalty 51.70 47.70
32 FINANCE COSTS Legal and professional fees 319.69 388.77
(` in Lacs) Insurance charges 180.15 117.79
Particulars
Year ended Year ended Directors’ sitting fees 3.80 3.70
March 31, 2021 March 31, 2020 Travelling and conveyance expenses 135.22 156.57
Interest on borrowings from banks 828.02 1,469.57 Allowance for credit losses 100.81 135.10
Interest on lease Liabilities 5.70 3.85 Provision for doubtful other receivables 8.97 -
Interest on others 44.97 55.61 Receivables written off 48.49 30.67
878.69 1,529.03 Vehicle expenses 98.64 88.51

Strategic priorities
Contribution for CSR activities (Refer note 38) 192.00 182.38
32.1 Interest on others include interest on income tax `Nil (Previous year 2019-20: `1.98 lacs) Repairs to others 139.46 104.84
Security charges 70.86 79.95
33 DEPRECIATION AND AMORTIZATION EXPENSE Rates and taxes 50.13 52.37
Bank charges 31.82 108.16
(` in Lacs)
Payment to auditors (Refer (i) below) 35.61 34.43
Year ended Year ended
Particulars Miscellaneous expenses 151.61 181.61
March 31, 2021 March 31, 2020
18,051.74 16,681.20
Depreciation on Property, plant and equipment (Refer Note 5) 1,160.13 1,163.54
204 40,896.70 37,198.43 205
Depreciation / Amortisation on Right of use assets (Refer Note 7) 384.85 252.59
(i) Details of auditors’ remuneration and out-of-pocket expenses is as below:
Amortisation on Intangible assets (Refer Note 8) 2.10 5.11
(a) Statutory auditors
1,547.08 1,421.24
Statutory audit fees 16.25 16.25
Tax audit fees 3.75 2.75
33.1 Depreciation on right of use on Buildings amounting to ` 384.68 lacs (Previous year 2019-20: `252.59 lacs) and Amortisation

ESG approach
Other services 13.20 12.80
on Right of use on leasehold land amounting to ` 0.17 lacs (Previous year 2019-20: Nil)
Reimbursement of expenses 0.91 1.13
34.11 32.93
34 OTHER EXPENSES (b) Cost auditors
(` in Lacs) Cost audit fees 1.50 1.50
Year ended Year ended 35.61 34.43
Particulars
March 31, 2021 March 31, 2020
Manufacturing expenses
Sub-contract expenses 21,077.38 18,558.03 35 OTHER COMPREHENSIVE INCOME
(` in Lacs)
Power and fuel 954.44 1,212.15
Particulars March 31, 2021 March 31, 2020
Carriage inward 239.37 233.22

Statutory reports
Items that will not be reclassified to profit or loss
Repairs to building 130.52 57.60
Remeasurement of the defined benefit plans 30.79 (74.64)
Repairs to machinery 443.25 456.23
Tax income/(expense) on the above (7.75) 18.78
22,844.96 20,517.23
23.04 (55.86)
Selling and administration expenses
Advertisement expenses 7,855.49 7,293.96
Freight and forwarding expenses 2,087.37 1,887.11
36 EARNINGS PER SHARE
Commission and brokerage 1,468.43 1,366.38 (` in Lacs)
Sales promotion expenses 440.89 1,622.33 Particulars March 31, 2021 March 31, 2020
Other selling and distribution expenses 4,189.29 2,302.23
Profit for the year 8,531.69 5,734.36

Financial statements
Rent 142.89 226.98
Weighted average number of equity shares (FV `2 per share) 5,67,16,120 5,67,16,120
Communication costs 98.80 97.08
Earnings per share:
Printing and stationery 44.24 58.13
Basic (`) 15.04 10.11
Electricity expenses 103.90 114.45
Diluted (`) 15.04 10.11
Loss on Sale of Fixed Assets(net) 1.48 -

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Consolidated Financial Statements Notes forming part of the Consolidated Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

37 DISCLOSURE PURSUANT TO INDIAN ACCOUNTING STANDARD - 19 ‘EMPLOYEE BENEFITS’ AS NOTIFIED U/S e) Amount recognized in Balance Sheet

Our performance
133 OF THE COMPANIES ACT, 2013. (` in Lacs)
Gratuity (Unfunded)
a) Defined Contribution Plan Particulars
2020-21 2019-20
The amount recognized as an expense for the Defined Contribution Plans are as under: Present value of Defined Benefit Obligation 530.22 404.55
(` in Lacs) Net (Assets)/ Liability recognised in the Balance Sheet 530.22 404.55
Particulars March 31, 2021 March 31, 2020
Provident Fund 92.60 74.56
f) Expenses recognized in Statement of Profit or Loss
Employee State Insurance 40.62 42.51
(` in Lacs)
Gratuity (Unfunded)
b) Defined Benefit Plan Particulars
2020-21 2019-20

Strategic priorities
The following are the types of Defined Benefit Plans: Current service cost 138.20 107.39
Past service cost - -
(i) Gratuity Plan
Interest cost 27.67 14.02
Every employee who has completed five years or more of service is entitled to gratuity on terms not less favourable than
Total 165.87 121.41
the provisions of The Payment of Gratuity Act, 1972. The present value of defined obligation and related current cost are
measured using the Projected Unit Credit Method with actuarial valuation being carried out at Balance Sheet date.
g) Remeasurement recognized in Other Comprehensive Income
(ii) Provident Fund (` in Lacs)
Provident Fund (other than government administered) as per the provisions of the Employees Provident Funds and Gratuity (Unfunded)
Particulars
206 Miscellaneous Provisions Act, 1952. 2020-21 2019-20 207
Actuarial (gain)/ loss on Defined Benefit Obligation (30.79) 74.64
c) Risk Exposure
Defined Benefit Plans h) Actuarial Assumptions
Defined benefit plans expose the Company to actuarial risks such as: Interest rate risk, Salary risk and Demographic risk. (` in Lacs)

ESG approach
Gratuity (Unfunded)
a) Interest rate risk: The defined benefit obligation calculated uses a discount rate based on government bonds. If the bond Particulars
2020-21 2019-20
yield falls, the defined benefit obligation will tend to increase.
Financial Assumptions
b) Salary risk: Higher than expected increases in salary will increase the defined benefit obligation. Discount rate 6.92% 6.69%
Salary escalation rate 9.00% 9.00%
c) Demographic risk: This is the risk of variability of results due to unsystematic nature of decrements that includes
Demographic Assumptions
mortality withdrawal disability and retirement. The effect of these decrements on the defined benefits obligations is not
Mortality rate IALM 2006-2008 IALM 2006-2008
straight forward and depends on the combination of salary increase, discount rate and vesting criteria. It is important not
Ultimate Ultimate
to overstate withdrawals because in the financial analysis the retirement benefit of the short career employee typically
Withdrawal rate 20.00% 20.00%
costs less per year as compared to a long service employee.
d) Reconciliation of the net defined benefit (asset)/ liability

Statutory reports
i) Maturity Analysis
The following table shows a reconciliation from the opening balances to the closing balances for the net defined benefit
At March 31, 2021, the weighted average duration of the defined benefit obligation was 23 years (previous year 24 years).
(asset)/ liability and its components:
(` in Lacs) The distribution of the timing of benefits payment i.e., the maturity analysis of the benefit payments is as follows:
Gratuity (Unfunded) (` in Lacs)
Particulars
2020-21 2019-20 Expected benefits payment for the year ending Gratuity (Unfunded)
Balance at the beginning of the year 404.55 210.71 March 31, 2022 11.94
Current service cost 138.20 107.39 March 31, 2023 4.93
Interest cost on Defined Benefit Obligation 27.67 14.02 March 31, 2024 6.93
Actuarial gain and losses arising March 31, 2025 6.14

Financial statements
Due to change in financial assumptions (22.10) 67.74 March 31, 2026 9.53
Due to unexpected experience adjustments (8.70) 6.90 March 31, 2027 to March 31, 2031 151.56
Benefits paid (9.40) (2.21) March 31, 2032 and beyond 2,107.35
Balance at the end of the year 530.22 404.55

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Consolidated Financial Statements Notes forming part of the Consolidated Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

j) Sensitivity Analysis 41 ASSETS PLEDGED AS SECURITY

Our performance
The sensitivity analysis below have been determined based on a method that extrapolates the impact on defined benefit The carrying amounts of assets pledged as security for current and non-current borrowings are:
obligation as a result of reasonable changes in key assumptions occurring at the end of the reporting period. Reasonably (` in Lacs)
possible changes at the reporting date to one of the relevant actuarial assumptions, holding other assumptions constant, Particulars March 31, 2021 March 31, 2020
would have affected the defined benefit obligation by the amounts shown below: Non current assets
(` in Lacs) Non financial assets
Variable Sensitivity Level Effect on Defined Benefit Obligations Land and buildings 5 2,083.41 2,160.43
March 31, 2021 March 31, 2020 Plant and machinery 5 4,586.14 3,441.55
Increase Decrease Increase Decrease Other tangible assets 5 1,212.60 1,286.68
Discount rate +/- 0.5% 486.03 579.82 369.66 443.77 Intangible assets 8 3.68 4.12
Salary escalation rate +/- 0.5% 576.65 488.47 442.55 370.35 Financial assets

Strategic priorities
Attrition rate +/- 0.5% 527.24 533.24 401.95 407.18 Loans 11 77.45 71.99
Mortality rate +/- 10% 529.65 530.80 403.95 405.15 Other financial assets 12 216.52 262.29
Other assets 13 147.00 55.83
Although the analysis does not take account of the full distribution of cash flows expected under the plan, it does provide Total Non current assets pledged as security 8,326.80 7,282.89
an approximation of the sensitivity of the assumptions shown. Current assets
Non financial assets
Inventories 15 33,394.70 30,496.54
38 CORPORATE SOCIAL RESPONSIBILITY Financial assets
208 In accordance with the Guidance Note on Accounting for expenditure on Corporate Social Responsibility Activities, the requisite Trade receivables 16 33,092.28 36,009.26 209
disclosure are as follows: Loans 11 37.17 34.29
(` in Lacs) Other financial assets 12 292.30 153.08
Year ended Year ended Total Current assets pledged as security 66,816.45 66,693.17
Particulars
March 31, 2021 March 31, 2020
Total assets pledged as security 75,143.25 73,976.06
Gross amount required to be spent by the Company during the year 191.06 182.38

ESG approach
CSR expenditure incurred during the year 192.00 182.38
Related party transactions as per Ind AS 24 in relation to CSR expenditure 192.00 182.38 42 LEASES
Provision made in relation to CSR expenditure - - 42.1 The company has elected to apply Ind AS 116 to its leases with modified retrospective approach. Under this approach, the
company has recognized lease liabilities and corresponding equivalent right of use assets. In the statement of profit & loss for
the year ended, operating lease expenses which were recognised as other expenses in previous periods is now recognised as
39 CONTINGENT LIABILITIES
(` in Lacs) depreciation expenses on right of use assets and finance cost for interest accrued on such lease liability.
39.1 Particulars March 31, 2021 March 31, 2020
42.2 Movement in Lease Liabilities during the year ended March 31, 2021
(i) Bank guarantee 5.00 5.00
(` in Lacs)
(ii) Excise duty 3.06 3.06
As at As at
(iii) Income tax* 111.60 111.60 Particulars

Statutory reports
March 31, 2021 March 31, 2020

*Amount paid under protest `12.99 lacs (March 31, 2020: `12.99 lacs) included in Income tax (Refer Note 14B). Balance at the beginning 541.10 -
Additions 428.44 792.22
39.2 The Hon’ble Supreme Court of India (“SC”) by their order dated February 28, 2019, in the case of Surya Roshani Limited v/s Interest Cost accrued during the period 5.70 3.85
EPFO, set out the principles based on which allowances paid to the employees should be identified for inclusion in basic wages Deletions -
for the purposes of computation of Provident Fund contribution. Subsequently, a review petition against this decision has been Payment of lease liabilites (423.27) (254.97)
filed and is pending before the SC for disposal. Adjustment 1.03 -
Balance at the end 553.00 541.10
The Company is awaiting the outcome of the review petition, and also directions from EPFO, if any, to assess any potential
impact on the Company and consequently no adjustments have been made in the books of account.

Financial statements
40 The Board of Directors at its meeting held on May 29, 2021 have recommended a payment of final dividend of ` 2.40 per
equity share of FV ` 2 each for the financial year ended March 31, 2021. The same amounts to ` 1,361.19 lacs. This is subject to
approval at the ensuing Annual General Meeting of the Company and hence is not recognized as a liability.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Consolidated Financial Statements Notes forming part of the Consolidated Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

42.3 Future Payment of Lease liabilities on an undiscounted basis financial statements. To provide an indication about the reliability of the inputs used in determining fair value, the Company

Our performance
(` in Lacs) has classified its financial instruments into the three levels of fair value measurement as prescribed under the Ind AS 113
Particulars
As at As at “Fair Value Measurement”.
March 31, 2021 March 31, 2020
The future payment of lease liabilities on an undiscounted basis are as follows: b) There are no transfers between levels during the year.
Particulars
Less than one year 350.81 284.96
One to five years 206.05 260.48 45 FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES
Total undiscounted lease liabilities 556.86 545.44 The Company’s activities expose it to the following risks:
Lease liabilities included in the statement of financial position 553.00 541.10
Current Lease Liabilities 347.95 284.96 a) Credit risk
Non– Current Lease Liabilities 205.05 256.14 b) Liquidity risk

Strategic priorities
c) Market risk
42.4 Amounts recognized in Profit or Loss
(` in Lacs)
For the year ended For the year ended
45.1 Credit risk
Particulars
March 31, 2021 March 31, 2020
Credit risk is the risk that counter party will not meet its obligations under a financial instruments or customer contract leading
Interest expense on lease liabilities 5.70 3.85 to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables) and from its
Depreciation expense of right–of–use assets 384.85 252.59 financing activities including deposits with banks and financial institutions, investments, foreign exchange transactions and
other financial instruments.
210 The weighted average incremental borrowing rate of 9% has been applied to lease liabilities recognised in the Balance Sheet 211
Trade and other receivables
Customer credit risk is managed by the Company subject to the Company’s established policy, procedures and control relating
43 FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES
to customer credit risk management. Concentration of credit risk with respect to trade and other receivables are limited, due to
43.1 The Company has measured its financial asset and financial liabilities at amortised cost, except as stated below: the Company’s customer / other party base being large and diverse. All trade and other receivables are reviewed and assessed
(` in Lacs) for default on a quarterly basis. Our historical experience of collecting receivables is that credit risk is low. Outstanding customer

ESG approach
Particulars March 31, 2021 March 31, 2020 receivables / other party are regularly monitored and major customers / other party are generally secured by obtaining security
Foreign exchange forward contract (MTM) - Profit/(Loss) (Level 1- Quoted price in active markets) - (10.44) deposits/bank guarantee or other forms of credit insurance. The maximum exposure to credit risk at the reporting date is the
carrying value of trade receivable as disclosed in Note 16.
43.2 The management has assessed that the fair values of cash and cash equivalents, trade receivables, trade payables, lease
liabilities, short term borrowings and other current financial liabilities approximates their carrying amounts largely due to the Trade Receivables
short-term maturities of these instruments. The management has assessed that the fair value of floating rate instruments Reconciliation of loss allowance provision
approximates their carrying value. (` in Lacs)
Particulars March 31, 2021 March 31, 2020
43.3 The fair values of non-current borrowings are based on the discounted cash flows using a current borrowing rate. They are Opening balance of loss allowance 229.67 94.57
classified as Level 3 fair values in the fair value hierarchy due to the inclusion of unobservable inputs including own credit risks, Charge/(release) during the year 100.81 135.10

Statutory reports
which was assessed as on the balance sheet date to be insignificant. Closing balance of loss allowance 330.48 229.67

Other Receivables
44 FAIR VALUE HIERARCHY
Reconciliation of loss allowance provision
The fair value of financial instruments are classified into three categories depending on the inputs used in the valuation technique. (` in Lacs)
The hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1 measurements) Particulars March 31, 2021 March 31, 2020
and lowest priority to unobservable inputs (Level 3 measurements). The categories used are as follows: Opening balance of loss allowance - -
Charge/(release) during the year 8.97 -
• Level 1: Quoted prices for identical instruments in an active market;
Closing balance of loss allowance 8.97 -
• Level 2: Directly or indirectly observable market inputs, other than Level 1 inputs; and

Financial statements
• Level 3: Inputs which are not based on observable market data.

a) The following are the judgements and estimates made in determining the fair values of the financial instruments that are
(a) recognized and measured at fair value and (b) measured at amortized cost and for which fair value are disclosed in the

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Consolidated Financial Statements Notes forming part of the Consolidated Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

45.2 Liquidity risk The Company’s exposure to foreign currency risk at the end of the reporting period are as follows:

Our performance
It is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that (I) Unhedged foreign currency exposure as at reporting date
are settled by delivering cash or another financial asset. The Company’s approach to managing liquidity is to ensure, as far as (` in Lacs)
possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, Particulars
March 31, 2021 March 31, 2020
without incurring unacceptable losses or risking damage to the Company’s reputation. Typically the Company ensures that it USD ` in Lacs USD ` in Lacs
has sufficient cash on demand to meet expected short term operational expenses. The Company’s objective is to maintain a Financial assets
balance between continuity of funding and flexibility through the use of bank loans/internal accruals. The table below provides Trade receivables 11,83,421 865.20 12,13,554 918.11
details regarding the remaining contractual maturities of significant financial liabilities at the reporting date. Financial liabilities
(` in Lacs) Trade payables and others 2,06,858 151.23 - -
Particulars On Demand Less than 1 year 1 year to 5 years Total
Net exposure in foreign currency 9,76,563 713.97 12,13,554 918.11
Year ended March 31, 2021

Strategic priorities
Borrowings 11,957.84 213.86 230.76 12,402.46 (II) Derivatives contract outstanding as at reporting date
Lease liabilities - 347.95 205.05 553.00 (` in Lacs)
Interest accrued but not due on borrowings - 21.63 - 21.63 March 31, 2021 March 31, 2020
Particulars
Trade and security deposits 1,599.24 - - 1,599.24 USD ` in Lacs USD ` in Lacs
Trade payables 13,951.44 13,951.44 Derivative assets
Other financial liabilities 650.05 650.05 Forward contract against firm commitments - - 8,00,000 605.24
Year ended March 31, 2020 Derivative liabilities
Borrowings 20,498.96 168.92 331.07 20,998.95 Forward contract against firm commitments - - - -
212 Lease liabilities - 284.96 256.14 541.10 Net exposure in foreign currency - - 8,00,000 605.24 213
Interest accrued but not due on borrowings - 54.82 - 54.82
Trade and security deposits 1,231.65 - - 1,231.65 Sensitivity analysis
Trade payables - 12,034.37 - 12,034.37 The analysis is based on assumption that the increase/decrease in foreign currency by 5% with all other variables held
Other financial liabilities - 332.86 - 332.86 constant, on the unhedged foreign currency exposure.

ESG approach
(` in Lacs)
45.3 Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in March 31, 2021 March 31, 2020
market prices. Market risk comprises three type of risks: Variable Change Impact on Impact on
Profit before tax Other equity Profit before tax Other equity
Commodity price risk, Foreign exchange risk, and Interest rate risk. USD sensitivity (Increase) + 5% 35.70 26.71 45.91 34.36
USD sensitivity (Decrease) - 5% (35.70) (26.71) (45.91) (34.36)
1) Commodity price risk
The Company primarily imports cotton and rubber. It is exposed to commodity price risk arising out of movement in prices
3) Interest rate risk
of such commodities. Such risks are monitored by tracking of the prices and are managed by entering into fixed price
The Company is exposed to risk due to interest rate fluctuation on long term borrowings. Such borrowings are based on
contracts, where considered necessary.
fixed as well as floating interest rate. Interest rate risk is determined by current market interest rates, projected debt
servicing capability and view on future interest rate. Such interest rate risk is actively evaluated and is managed through

Statutory reports
2) Foreign currency risk
portfolio diversification and exercise of prepayment/refinancing options where considered necessary.
The Company has Foreign Currency Exchange Risk on imports of input materials, Capital Equipment(s) in foreign currency (` in Lacs)
for its business. The Company evaluates the impact of foreign exchange rate fluctuations by assessing its exposure to Particulars March 31, 2021 March 31, 2020
exchange rate risks. Certain transactions of the Company act as a natural hedge as a portion of both assets and liabilities
Financial assets
are denominated in similar foreign currencies. For the remaining exposure to foreign exchange risk, the Company adopts
Fixed rate instruments - -
a policy of selective hedging based on risk perception of the management using derivative, wherever required, to mitigate
Financial liabilities
or eliminate the risk.
Fixed rate instruments 770.98 5,399.31
Variable rate instruments 11,631.48 15,599.64

Financial statements
Annual Report 2020-21
 Dollar Industries Limited

Who we are
Notes forming part of the Consolidated Financial Statements Notes forming part of the Consolidated Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

Interest rate sensitivity 48 SEGMENT REPORTING

Our performance
The following table demonstrates the sensitivity to a reasonably possible change in interest rates on that portion of loans
There is only one primary business segment i.e. “Garments & Hosiery goods and related services” and hence no separate segment
and borrowings affected. With all other variables held constant, the Company’s profit before tax is affected through the
information is disclosed in this financials.
impact on floating rate borrowings, as follows:
(` in Lacs)
Effect on profit
Secondary information is reported geographically.
Variable Change
before tax
As at March 31, 2021 +50 basis points (58.16) Geographical segments
-50 basis points 58.16 The Company primarily operates in India and therefore analysis of geographical segment is demonstrated into Indian and overseas
As at March 31, 2020 +50 basis points (78.00) operation as under:
-50 basis points 78.00 (` in Lacs)

Strategic priorities
March 31, 2021 March 31, 2020
Particulars
India Overseas India Overseas
46 CAPITAL MANAGEMENT Revenue from operations 95,308.84 6,275.09 87,922.16 6,883.71
The Company’s objective to manage its capital is to ensure continuity of business while at the same time provide reasonable returns Carrying value of Non-current assets* 10,137.66 - 8,893.72 -
to its various stakeholders but keep associated costs under control. In order to achieve this, requirement of capital is reviewed (other than financial instruments)
periodically with reference to operating and business plans that take into account capital expenditure and strategic investments.
*Non-current assets for this purpose consists of Property, plant and equipment, Capital work-in-progress, Right of use assets, Other intangible assets and
Apart from internal accrual, sourcing of capital is done through judicious combination of equity and borrowing, both short term and Other non-current assets.
long term.Net Debt(total borrowing less cash and cash equivalents) to equity ratio is used to monitor capital.
(` in Lacs)
Particulars March 31, 2021 March 31, 2020
Revenue from major customers
214 215
Total Borrowing as per note 21 12,188.60 20,830.03 The Company is not reliant on revenues from transactions with any single external customer and does not receive 10% or more of
Current maturities for long term debt as per note 25 213.86 168.92 its revenues from transactions with any single external customer.
Total Debt 12,402.46 20,998.95
Less : Cash and cash equivalent 696.87 589.00
49 INFORMATION ON RELATED PARTY TRANSACTIONS AS REQUIRED BY IND AS 24 - RELATED PARTY

ESG approach
Net Debt (A) 11,705.59 20,409.95
DISCLOSURES
Total Equity (B) 53,675.39 46,082.87
Net Debt to Equity ratio (A/B) 0.22 0.44 a) Joint Venture
Pepe Jeans Innerfashion Private Limited
47 
Certain Trade Receivables, Loans & Advances and Trade Payables are subject to confirmation. In the opinion of the
b) Key Managerial Personnel
management, the value of Trade Receivables and Loans & Advances on realisation in the ordinary course of business, will not
be less than the value at which these are stated in the Balance Sheet. Chairman Shri Din Dayal Gupta*
Managing Director Mr Vinod Kumar Gupta
Mr Binay Kumar Gupta
Whole-time Director Mr Krishan Kumar Gupta

Statutory reports
Mr Bajrang Kumar Gupta
Mr Gopalakrishnan Sarankapani
Independent Director Mrs Divyaa Newatia
Mr Binay Kumar Agarwal
Mr Rajesh Kumar Bubna
Mr Sunil Mitra (Till October 4, 2020)
Mr Anil Kumar Saboo
Mr Srikumar Bandyopadhyay
Non- executive Director Mr Sanjay Jhunjhunwalla (Till October 19, 2020)

Financial statements
Chief Financial Officer Mr Ankit Gupta
Company Secretary Mr Abhishek Mishra
* Shri Din Dayal Gupta resigned from the Chairmanship of the Company with effect from April 11, 2019.

Annual Report 2020-21

 Dollar Industries Limited

Who we are
Notes forming part of the Consolidated Financial Statements Notes forming part of the Consolidated Financial Statements
for the year ended March 31, 2021 for the year ended March 31, 2021

c) Relatives of Key Managerial Personnel f) Details of related party transactions during the year ended March 31, 2021

Our performance
(` in Lacs)
Mr Ramesh Kumar Gupta Mr Pramod Kumar Gupta
Mrs Chandrakala Gupta Mrs Anita Gupta Entities where Directors/
Relatives of Key
Joint Venture Key Managerial Personnel Relatives of Directors have
Mrs Ruchi Gupta Mrs Nitu Gupta Nature of Transaction Managerial Personnel
control/ significant influence
Mrs Seema Gupta Mr Ankit Gupta 2020-21 2019-20 2020-21 2019-20 2020-21 2019-20 2020-21 2019-20
Mr Ayush Gupta Mr Gaurav Gupta Income
Mrs Saadhika Gupta Mrs Ashita Gupta Sale of goods 221.31 631.54 - - - - 301.45 168.15
Mr Anant Gupta Ms Vedika Gupta Interest received - 1.38 - - - - - -
Mrs Swati Gupta Mr. Din Dayal Gupta (w.e.f April 12, 2019) Rent received - - - - - - 6.49 -
Ms Pallavi Gupta Other miscellaneous income - - - - - - 0.28 7.87

Strategic priorities
Expenditure
d) Close family members of Key Managerial Personnel who are under the employment of the Company: Purchase of goods - - - - - - 2,425.20 1,653.22
Mr Ankit Gupta (son of Mr Vinod Kumar Gupta, Managing Director) Services received - - - - 0.44 1.17 1,211.47 1,334.29
Mr Gaurav Gupta (son of Mr Binay Kumar Gupta, Managing Director) Remuneration and perquisites - - 420.64 395.48 53.56 43.00 - -
Mr Ayush Gupta (son of Mr Vinod Kumar Gupta, Managing Director) Directors' sitting fees - - 3.80 3.70 - - - -
Mrs Saadhika Gupta (daughter-in-law of Mr Vinod Kumar Gupta, Managing Director) Interest paid - - - - - - 44.71 52.87
Mrs Ashita Gupta (daughter-in-law of Mr Binay Kumar Gupta, Managing Director) Rent paid - - 8.29 8.25 - - 120.09 134.21
Mrs Swati Gupta (daughter-in-law of Mr Vinod Kumar Gupta, Managing Director) Royalty - - - - - - 57.09 56.29
Ms Vedika Gupta (daughter of Mr Mr Krishan Kumar Gupta, Whole-time Director) Commission paid - - - - 30.58 20.94 11.23 13.73
216 217
Ms Pallavi Gupta (daughter of Mr Binay Kumar Gupta, Managing Director) Paid to Trust for CSR activities - - - - - - 192.00 182.38
Reimbursement of expenses - - - - - - 538.17 3.47
paid
e) Entities where Directors/Relatives of Directors have control/significant influence
Others
Goldman Trading Private Limited Amicable Properties Private Limited Dividend paid - - 45.71 116.23 90.85 27.88 559.59 434.52

ESG approach
Dollar Holdings Private Limited (Formerly known as Simplex Impex Private Limited) PHPL Stock Broking Private Limited Investment - 300.00 - - - - - -
Zest Merchants Private Limited Adds Projects Private Limited Leasehold Land Rights - - - - - - 55.00 -
VA Infraprojects Private Limited BS Infraproperties Private Limited Site Formation Expenses - - - - - - 408.95 -
KN Infraproperties Private Limited BR Infraprojects Private Limited Loan taken - - - - - - 2,000.00 1,025.00
KPS Distributors Private Limited VHR Solutions Private Limited Repayment of loan - - - - - - 2,260.00 1,033.00
Bhawani Yarns Private Limited Dindayal Texpro Private Limited
Sri Venkateswara Knitting Erode Textile Process g) Details of closing balances of related party as at March 31, 2021
Sree Krishna Enterprise Dhaksh Knitfab
(` in Lacs)
Bhawani Textiles Force Marketing
Entities where Directors/
Sujata Enterprises Dollar Foundation Relatives of Key
Joint Venture Key Managerial Personnel Relatives of Directors have
Managerial Personnel

Statutory reports
Atul Agencies Vichaar Television Network Limited Nature of Transaction control/ significant influence
Arya Industries V K Mercantile Private Limited 31-03-2021 31-03-2020 31-03-2021 31-03-2020 31-03-2021 31-03-2020 31-03-2021 31-03-2020
R A Dealcom Private Limited Outstanding payable
Loan - - - - - - 326.36 545.00
Sitting Fees - - 0.11 - - - - -
Trade and other payables - - 0.32 0.32 34.61 19.51 444.41 400.78
Outstanding receivable
Trade and other receivables 87.34 63.30 - - - - 306.50 115.10

Financial statements
(i) Details of investments made by the Company in equity shares of its joint venture is disclosed in Note 9.

Annual Report 2020-21

 Dollar Industries Limited

Notes forming part of the Consolidated Financial Statements Notes

for the year ended March 31, 2021

(ii) The sale to and purchase from Related Party are made in the normal course of business and on terms equivalent to those
that prevail in arm’s length transactions. The Loans and Advances issued to Related Parties are on terms equivalent to
those that prevail in arm’s length transactions. Outstanding Balances at the year end are unsecured and settlement
occurs in cash for the year ended March 31, 2021, the Company has recorded the receivable relating to amount due from
Related Parties net of impairment. This assessment is undertaken each Financial Year through examining the Financial
position of the Related Parties and the market in which the Related Party operates.

50 
The company has assessed and considered the impact of the ongoing Covid-19 pandemic on carrying amounts of receivables,
other assets and its business operations including all relevant internal and external information available up to the date of
approval of these financial results. Basis such evaluation, the management does not expect any adverse impact on its future
cash flows and shall be able to continue as a going concern and meet its obligations as and when they fall due. The impact
of Covid-19 on the Company’s financial results may differ from that estimated as at the date of approval of these financial
results. The company will continue to monitor future economic conditions for any significant change.

51 Previous year figures have been recasted/restated wherever necessary.

As per our report of even date attached

For Singhi & Co. For and on behalf of the Board of Directors of
Chartered Accountants Dollar Industries Limited
218 Firm Reg. No. 302049E CIN: L17299WB1993PLC058969

Shrenik Mehta Vinod Kumar Gupta Krishan Kumar Gupta

Partner Managing Director Whole Time Director
Membership No.: 063769 DIN: 00877949 DIN: 01982914

Place: Kolkata Ankit Gupta Abhishek Mishra

Date: May 29, 2021 Chief Financial Officer Company Secretary

Annual Report 2020-21

Notes Corporate Information

BOARD OF DIRECTORS
Mr. Vinod Kumar Gupta, Managing Director
Mr. Binay Kumar Gupta, Managing Director
Mr. Krishan Kumar Gupta, Whole-time Director
Mr. Bajrang Kumar Gupta, Whole-time Director
Mr. Gopalakrishnan Sarankapani, Whole-time Director
Mr. Sanjay Jhunjhunwalla, Non-Executive Director (resigned wef 20.10.2020)
Mr. Binay Kumar Agarwal, Independent Director
Mr. Rajesh Kumar Bubna, Independent Director
Mr. Sunil Mitra, Independent Director (resigned wef 05.10.2020)
Mrs. Divyaa Newatia, Independent Director
Mr. Anil Kumar Saboo, Independent Director
Mr. Srikumar Bandyopadhyay, Independent Director

COMPANY SECRETARY & COMPLIANCE OFFICER CHIEF FINANCIAL OFFICER

Mr. Abhishek Mishra Mr. Ankit Gupta

MAIN BANKERS AUDITORS

State Bank of India Indian Bank M/s Singhi & Co.
ICICI Bank Ltd Citibank N.A. Chartered Accountants
HDFC Bank Ltd 161, Sarat Bose Road, Kolkata - 700 026

SECRETARIAL AUDITOR & LEGAL ADVISOR REGISTRAR & SHARE TRANSFER AGENTS
Mr. Santosh Kumar Tibrewalla Niche Technologies Pvt. Ltd.
Practising Company Secretary 3A, Auckland Place, 7th Floor, Room No. 7A & 7B,
5A, N.C. Dutta Sarani, 3rd Floor, Kolkata-700 001 Kolkata-700 017

REGISTERED OFFICE MANUFACTURING FACILITIES

Om Tower, 15th Floor, 32 J.L. Nehru Road, Kolkata- 700 071 Tirupur, Delhi, Ludhiana and Kolkata

BRANCHES
Agra, Ahmedabad, Banglore, Bhagalpur, Cuttack, Delhi,
Indore, Jaipur, Kanpur, Ludhiana, Mumbai, Nagpur, Patna,
Ranchi, Tirupur and Varanasi
 DOLLAR INDUSTRIES LIMITED
CIN: L17299WB1993PLC058969
Om Tower, 15th Floor, 32 J.L. Nehru Road,
Kolkata - 700 071
West Bengal, India