{"id":188,"date":"2023-05-23T09:43:59","date_gmt":"2023-05-23T09:43:59","guid":{"rendered":"https:\/\/investors.bajajauto.com\/ar23\/?page_id=188"},"modified":"2023-06-21T11:13:53","modified_gmt":"2023-06-21T11:13:53","slug":"directors-report","status":"publish","type":"page","link":"https:\/\/investors.bajajauto.com\/ar23\/directors-report\/","title":{"rendered":"Director&#8217;s Report"},"content":{"rendered":"\n<div class=\"row hide-for-small\"  id=\"row-1619917208\">\n\n\n\t<div id=\"col-1231344328\" class=\"col medium-3 small-12 large-3\"  >\n\t\t<div class=\"is-sticky-column\"><div class=\"is-sticky-column__inner\">\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\n\t<div class=\"ux-menu stack stack-col justify-start ux-menu--divider-solid\">\n\t\t\n\n\t<div class=\"ux-menu-link flex menu-item\">\n\t\t<a class=\"ux-menu-link__link flex\" href=\"https:\/\/investors.bajajauto.com\/ar23\/board-of-directors\/\" >\n\t\t\t\t\t\t<span class=\"ux-menu-link__text\">\n\t\t\t\tBoard of Directors\t\t\t<\/span>\n\t\t<\/a>\n\t<\/div>\n\t\n\n\t<div class=\"ux-menu-link flex menu-item\">\n\t\t<a class=\"ux-menu-link__link flex\" href=\"https:\/\/investors.bajajauto.com\/ar23\/management-team\/\" >\n\t\t\t\t\t\t<span class=\"ux-menu-link__text\">\n\t\t\t\tManagement Team\t\t\t<\/span>\n\t\t<\/a>\n\t<\/div>\n\t\n\n\t<div class=\"ux-menu-link flex menu-item\">\n\t\t<a class=\"ux-menu-link__link flex\" href=\"https:\/\/investors.bajajauto.com\/ar23\/chairmans-letter\/\" >\n\t\t\t\t\t\t<span class=\"ux-menu-link__text\">\n\t\t\t\tChairman&#039;s Letter\t\t\t<\/span>\n\t\t<\/a>\n\t<\/div>\n\t\n\n\t<div class=\"ux-menu-link flex menu-item\">\n\t\t<a class=\"ux-menu-link__link flex\" href=\"https:\/\/investors.bajajauto.com\/ar23\/management-discussion-analysis\/\" >\n\t\t\t\t\t\t<span class=\"ux-menu-link__text\">\n\t\t\t\tManagement Discussion &amp; Analysis\t\t\t<\/span>\n\t\t<\/a>\n\t<\/div>\n\t\n\n\t<div class=\"ux-menu-link flex menu-item\">\n\t\t<a class=\"ux-menu-link__link flex\" href=\"https:\/\/investors.bajajauto.com\/ar23\/corporate-govemance\/\" >\n\t\t\t\t\t\t<span class=\"ux-menu-link__text\">\n\t\t\t\tCorporate Govemance\t\t\t<\/span>\n\t\t<\/a>\n\t<\/div>\n\t\n\n\t<div class=\"ux-menu-link flex menu-item\">\n\t\t<a class=\"ux-menu-link__link flex\" href=\"https:\/\/investors.bajajauto.com\/ar23\/general-shareholder-information\/\" >\n\t\t\t\t\t\t<span class=\"ux-menu-link__text\">\n\t\t\t\tGeneral Shareholder Information\t\t\t<\/span>\n\t\t<\/a>\n\t<\/div>\n\t\n\n\t<div class=\"ux-menu-link flex menu-item\">\n\t\t<a class=\"ux-menu-link__link flex\" href=\"https:\/\/investors.bajajauto.com\/ar23\/directors-report\/\" >\n\t\t\t\t\t\t<span class=\"ux-menu-link__text\">\n\t\t\t\tDirector&#039;s Report\t\t\t<\/span>\n\t\t<\/a>\n\t<\/div>\n\t\n\n\n\t<\/div>\n\t\n\n\t\t<\/div>\n\t\t<\/div><\/div>\t\t\t<\/div>\n\n\t\n\n\t<div id=\"col-1241736145\" class=\"col medium-9 small-12 large-9\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\n\n\t<section class=\"section dark\" id=\"section_1594874945\">\n\t\t<div class=\"section-bg fill\" >\n\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1116\" height=\"254\" src=\"https:\/\/investors.bajajauto.com\/ar23\/wp-content\/uploads\/2023\/06\/Hedeing_BK-1.png\" class=\"bg attachment- size-\" alt=\"\" \/>\t\t\t\t\t\t\n\t\t\t\n\n\t\t<\/div>\n\n\t\t\n\n\t\t<div class=\"section-content relative\">\n\t\t\t\n\n<h2>Director&#8217;s Report<\/h2>\n\n\t\t<\/div>\n\n\t\t\n<style>\n#section_1594874945 {\n  padding-top: 30px;\n  padding-bottom: 30px;\n}\n<\/style>\n\t<\/section>\n\t\n\t<div id=\"gap-513418076\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-513418076 {\n  padding-top: 30px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\n\n<!DOCTYPE html>\n<html xmlns=\"http:\/\/www.w3.org\/1999\/xhtml\" lang=\"en-US\">\n\t<head>\n\t\t<meta charset=\"utf-8\" \/>\n\t\t<title>Directors&apos;_Report<\/title>\n\t\t<style>\n\t\t\tbody, div, dl, dt, dd, h1, h2, h3, h4, h5, h6, p, pre, code, blockquote {\n\tmargin:0;\n\tpadding:0;\n\tborder-width:0;\n}\nbody {\n\t-epub-hyphens:auto;\n}\ntable.Annual-Report-Main-Table {\n\tborder-collapse:collapse;\n\tborder-style:none;\n\tborder-width:0px;\n\tmargin-bottom:0px;\n\tmargin-top:0px;\n}\ntd.Annual-Report-Main-Table {\n\tborder-left-width:1px;\n\tborder-left-style:solid;\n\tborder-left-color:#000000;\n\tborder-top-width:1px;\n\tborder-top-style:solid;\n\tborder-top-color:#000000;\n\tborder-right-width:1px;\n\tborder-right-style:solid;\n\tborder-right-color:#000000;\n\tborder-bottom-width:1px;\n\tborder-bottom-style:solid;\n\tborder-bottom-color:#000000;\n\tpadding-top:4px;\n\tpadding-bottom:4px;\n\tpadding-left:4px;\n\tpadding-right:4px;\n\tvertical-align:top;\n}\ntd._1_Table_02_Table_Rupees_In_Crore {\n\tborder-bottom-style:solid;\n\tborder-bottom-width:0px;\n\tborder-left-width:0px;\n\tborder-right-width:0px;\n\tborder-top-width:0px;\n\tpadding-bottom:6px;\n\tpadding-right:0px;\n\tpadding-top:6px;\n\tvertical-align:bottom;\n}\ntd._1_Table_03_Table_Blank-Cell {\n\tborder-bottom-width:0px;\n\tborder-left-width:0px;\n\tborder-right-width:0px;\n\tborder-top-width:0px;\n\tvertical-align:top;\n}\ntd._1_Table_04_Table_Particulars {\n\tborder-bottom-color:#666666;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:2px;\n\tborder-left-width:0px;\n\tborder-right-width:0px;\n\tborder-top-width:0px;\n\tpadding-bottom:4px;\n\tpadding-left:0px;\n\tpadding-right:0px;\n\tpadding-top:4px;\n\tvertical-align:bottom;\n}\ntd._1_Table_06_Table_Thickline_Black {\n\tborder-bottom-color:#666666;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:2px;\n\tborder-right-width:0px;\n\tborder-top-width:0px;\n\tpadding-bottom:4px;\n\tpadding-left:0px;\n\tpadding-right:0px;\n\tpadding-top:4px;\n\tvertical-align:bottom;\n}\ntd._1_Table_07_Table_Thickline_colour {\n\tborder-bottom-color:#005dac;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:2px;\n\tborder-top-width:0px;\n\tpadding-bottom:4px;\n\tpadding-left:0px;\n\tpadding-right:0px;\n\tpadding-top:4px;\n\tvertical-align:bottom;\n}\ntd._1_Table_08_Table_Thinline_0-5 {\n\tborder-bottom-color:#000000;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:1px;\n\tborder-left-width:0px;\n\tborder-right-width:0px;\n\tborder-top-width:0px;\n\tpadding-left:0px;\n\tpadding-right:0px;\n\tvertical-align:bottom;\n}\ntd._1_Table_11_Table_Text-White-Cell_Plain {\n\tborder-bottom-color:#808285;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:1px;\n\tborder-left-width:0px;\n\tborder-right-width:0px;\n\tborder-top-color:#808285;\n\tborder-top-style:solid;\n\tborder-top-width:1px;\n\tpadding-bottom:4px;\n\tpadding-left:0px;\n\tpadding-right:0px;\n\tpadding-top:4px;\n\tvertical-align:bottom;\n}\ntd._1_Table_11_Table_Text-White-Cell_Plain-For-Web {\n\tborder-bottom-style:solid;\n\tborder-bottom-width:0px;\n\tborder-left-width:0px;\n\tborder-right-width:0px;\n\tborder-top-style:solid;\n\tborder-top-width:0px;\n\tpadding-bottom:4px;\n\tpadding-left:0px;\n\tpadding-right:0px;\n\tpadding-top:4px;\n\tvertical-align:top;\n}\ntd._1_Table_12_Table_Text-White-Cell_Bold {\n\tborder-bottom-color:#666666;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:1px;\n\tborder-left-width:0px;\n\tborder-right-width:0px;\n\tborder-top-color:#666666;\n\tborder-top-style:solid;\n\tborder-top-width:1px;\n\tpadding-bottom:4px;\n\tpadding-left:0px;\n\tpadding-right:0px;\n\tpadding-top:4px;\n\tvertical-align:bottom;\n}\ntd._1_Table_13_Table_Figure-Color-Cell_Plain {\n\tborder-bottom-color:#669ecd;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:1px;\n\tborder-top-color:#669ecd;\n\tborder-top-style:solid;\n\tborder-top-width:1px;\n\tpadding-bottom:4px;\n\tpadding-left:0px;\n\tpadding-right:0px;\n\tpadding-top:4px;\n\tvertical-align:bottom;\n}\ntd._1_Table_14_Table_Figure-Color-Cell_Bold {\n\tborder-bottom-color:#669ecd;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:1px;\n\tborder-top-color:#669ecd;\n\tborder-top-style:solid;\n\tborder-top-width:1px;\n\tpadding-bottom:4px;\n\tpadding-left:0px;\n\tpadding-right:0px;\n\tpadding-top:4px;\n\tvertical-align:bottom;\n}\ntd._1_Table_15_Table_Figure-White-Cell_Plain {\n\tborder-bottom-color:#808285;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:1px;\n\tborder-left-width:0px;\n\tborder-right-width:0px;\n\tborder-top-color:#808285;\n\tborder-top-style:solid;\n\tborder-top-width:1px;\n\tpadding-bottom:4px;\n\tpadding-left:0px;\n\tpadding-right:0px;\n\tpadding-top:4px;\n\tvertical-align:bottom;\n}\ntd._1_Table_16_Table_Figure-White-Cell_Bold {\n\tborder-bottom-color:#808285;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:1px;\n\tborder-right-width:0px;\n\tborder-top-color:#808285;\n\tborder-top-style:solid;\n\tborder-top-width:1px;\n\tpadding-bottom:4px;\n\tpadding-left:0px;\n\tpadding-right:0px;\n\tpadding-top:4px;\n\tvertical-align:bottom;\n}\ntd.Blankcel {\n\tborder-bottom-width:0px;\n\tborder-left-width:0px;\n\tborder-right-width:0px;\n\tborder-top-width:0px;\n}\np._3_Chapter_06_Special-Head {\n\t-epub-hyphens:none;\n\tcolor:#808080;\n\tfont-family:\"Poppins Medium\", sans-serif;\n\tfont-size:30px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:500;\n\tline-height:1.133;\n\tmargin-bottom:11px;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:11px;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:left;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\np._3_Chapter_09_Sub_Head {\n\t-epub-hyphens:none;\n\tcolor:#005dac;\n\tfont-family:\"Poppins Medium\", sans-serif;\n\tfont-size:23px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:500;\n\tline-height:1.2;\n\tmargin-bottom:11px;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:11px;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:left;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\np._3_Chapter_10_Sub_Head_01 {\n\t-epub-hyphens:none;\n\tcolor:#000000;\n\tfont-family:Poppins, sans-serif;\n\tfont-size:19px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:bold;\n\tline-height:1.263;\n\tmargin-bottom:5px;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:10px;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:left;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\np._3_Chapter_11_Sub_Head_02 {\n\t-epub-hyphens:none;\n\tcolor:#000000;\n\tfont-family:\"Poppins Medium\", sans-serif;\n\tfont-size:17px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:500;\n\tline-height:1.235;\n\tmargin-bottom:0;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:0;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:left;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\np._3_Chapter_12_Body-Text {\n\t-epub-hyphens:none;\n\tcolor:#000000;\n\tfont-family:\"Poppins Light\", sans-serif;\n\tfont-size:14px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:300;\n\tline-height:1.286;\n\tmargin-bottom:6px;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:6px;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:left;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\np._3_Chapter_12_Body-Text-NooN {\n\t-epub-hyphens:none;\n\tcolor:#000000;\n\tfont-family:\"Poppins Light\", sans-serif;\n\tfont-size:9px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:300;\n\tline-height:1.2;\n\tmargin-bottom:0;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:0;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:left;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\np._4_Table_16_Rupees_In_Crore {\n\t-epub-hyphens:none;\n\tcolor:#000000;\n\tfont-family:\"Poppins Light\", sans-serif;\n\tfont-size:12px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:300;\n\tline-height:1.333;\n\tmargin-bottom:0;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:0;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:right;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\np._4_Table_17_Table_Particulars {\n\t-epub-hyphens:none;\n\tcolor:#000000;\n\tfont-family:Poppins, sans-serif;\n\tfont-size:14px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:bold;\n\tline-height:1.286;\n\tmargin-bottom:0;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:0;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:left;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\np._4_Table_18_Table_Thickline_Black {\n\t-epub-hyphens:none;\n\tcolor:#000000;\n\tfont-family:Poppins, sans-serif;\n\tfont-size:14px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:bold;\n\tline-height:1.286;\n\tmargin-bottom:0;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:0;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:right;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\np._4_Table_19_Table_Thickline_colour {\n\t-epub-hyphens:none;\n\tcolor:#005dac;\n\tfont-family:Poppins, sans-serif;\n\tfont-size:14px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:bold;\n\tline-height:1.286;\n\tmargin-bottom:0;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:0;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:right;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\np._4_Table_21_Table_Thinline_0-5 {\n\t-epub-hyphens:none;\n\tcolor:#000000;\n\tfont-family:Poppins, sans-serif;\n\tfont-size:14px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:bold;\n\tline-height:1.286;\n\tmargin-bottom:0;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:0;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:center;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\np._4_Table_23_Table_Text_Plain {\n\t-epub-hyphens:none;\n\tcolor:#000000;\n\tfont-family:\"Poppins Light\", sans-serif;\n\tfont-size:14px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:300;\n\tline-height:1.286;\n\tmargin-bottom:0;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:0;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:left;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\np._4_Table_24_Table_Text_Bold {\n\t-epub-hyphens:none;\n\tcolor:#000000;\n\tfont-family:Poppins, sans-serif;\n\tfont-size:14px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:bold;\n\tline-height:1.286;\n\tmargin-bottom:0;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:0;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:left;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\np._4_Table_26_Table_Figure_Plain {\n\t-epub-hyphens:none;\n\tcolor:#000000;\n\tfont-family:\"Poppins Light\", sans-serif;\n\tfont-size:14px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:300;\n\tline-height:1.286;\n\tmargin-bottom:0;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:0;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:right;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\np._4_Table_27_Table_Figure_Bold {\n\t-epub-hyphens:none;\n\tcolor:#000000;\n\tfont-family:Poppins, sans-serif;\n\tfont-size:14px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:bold;\n\tline-height:1.286;\n\tmargin-bottom:0;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:0;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:right;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\np._4_Table_28_Table_Figure_Colour {\n\t-epub-hyphens:none;\n\tcolor:#005dac;\n\tfont-family:\"Poppins Light\", sans-serif;\n\tfont-size:14px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:300;\n\tline-height:1.286;\n\tmargin-bottom:0;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:0;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:right;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\np._4_Table_29_Table_Figure_Bold_Colour {\n\t-epub-hyphens:none;\n\tcolor:#005dac;\n\tfont-family:Poppins, sans-serif;\n\tfont-size:14px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:bold;\n\tline-height:1.286;\n\tmargin-bottom:0;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:0;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:right;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\np._4_Table_30_Table_Footnote {\n\t-epub-hyphens:none;\n\tcolor:#000000;\n\tfont-family:\"Poppins Light\", sans-serif;\n\tfont-size:12px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:300;\n\tline-height:1.333;\n\tmargin-bottom:3px;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:6px;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:left;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\nspan.Bold {\n\tfont-family:\"Poppins SemiBold\", sans-serif;\n\tfont-style:normal;\n\tfont-weight:600;\n}\nspan.Colour {\n\tcolor:#005dac;\n}\ntd.CellOverride-1 {\n\tpadding-bottom:4px;\n\tpadding-top:3px;\n}\ntd.CellOverride-2 {\n\tborder-top-color:#005dac;\n\tpadding-bottom:0px;\n\tpadding-top:11px;\n}\ntd.CellOverride-3 {\n\tpadding-top:6px;\n}\ntd.CellOverride-4 {\n\tborder-top-color:#005dac;\n\tpadding-bottom:0px;\n\tpadding-top:0px;\n}\ntd.CellOverride-5 {\n\tborder-bottom-color:#000000;\n\tpadding-bottom:4px;\n\tpadding-top:3px;\n}\ntd.CellOverride-6 {\n\tborder-bottom-color:#000000;\n\tborder-left-color:#000000;\n\tborder-top-color:#000000;\n\tpadding-bottom:4px;\n\tpadding-top:3px;\n}\ntd.CellOverride-7 {\n\tborder-bottom-color:#000000;\n\tborder-top-color:#000000;\n\tpadding-bottom:4px;\n\tpadding-top:3px;\n}\ntd.CellOverride-8 {\n\tborder-bottom-color:#000000;\n\tborder-right-color:#000000;\n\tborder-top-color:#000000;\n\tpadding-bottom:4px;\n\tpadding-top:3px;\n}\ntd.CellOverride-9 {\n\tborder-top-color:#000000;\n\tpadding-bottom:4px;\n\tpadding-top:3px;\n}\ntd.CellOverride-10 {\n\tvertical-align:top;\n}\ntd.CellOverride-11 {\n\tpadding-top:11px;\n}\np.ParaOverride-1 {\n\tmargin-top:28px;\n}\np.ParaOverride-2 {\n\tmargin-bottom:11px;\n}\np.ParaOverride-3 {\n\tmargin-bottom:9px;\n}\np.ParaOverride-4 {\n\tmargin-top:11px;\n}\np.ParaOverride-5 {\n\tmargin-bottom:34px;\n}\np.ParaOverride-6 {\n\tmargin-bottom:0px;\n}\nspan.CharOverride-1 {\n\tcolor:#005dac;\n\tfont-family:\"Poppins ExtraBold\", sans-serif;\n\tfont-size:15px;\n\tfont-style:normal;\n\tfont-weight:800;\n}\ntd._idGenCellOverride-1 {\n\tborder-bottom-color:#666666;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:2px;\n\tborder-top-style:solid;\n\tborder-top-width:0px;\n}\ntd._idGenCellOverride-2 {\n\tborder-bottom-color:#f2f3f3;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:0px;\n\tborder-top-color:#f2f3f3;\n\tborder-top-style:solid;\n\tborder-top-width:0px;\n\tvertical-align:top;\n}\ntd._idGenCellOverride-3 {\n\tborder-bottom-color:#005dac;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:2px;\n\tborder-left-style:solid;\n\tborder-left-width:0px;\n\tborder-right-style:solid;\n\tborder-right-width:0px;\n\tborder-top-color:#808285;\n\tborder-top-style:solid;\n\tborder-top-width:0px;\n}\ntd._idGenCellOverride-4 {\n\tborder-bottom-color:#666666;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:2px;\n\tborder-left-style:solid;\n\tborder-left-width:0px;\n\tborder-top-color:#808285;\n\tborder-top-style:solid;\n\tborder-top-width:0px;\n}\ntd._idGenCellOverride-5 {\n\tborder-right-style:solid;\n\tborder-right-width:0px;\n\tborder-top-color:#666666;\n\tborder-top-style:solid;\n\tborder-top-width:2px;\n}\ntd._idGenCellOverride-6 {\n\tborder-bottom-color:#669ecd;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:1px;\n\tborder-left-style:solid;\n\tborder-left-width:0px;\n\tborder-right-style:solid;\n\tborder-right-width:0px;\n\tborder-top-color:#005dac;\n\tborder-top-style:solid;\n\tborder-top-width:2px;\n}\ntd._idGenCellOverride-7 {\n\tborder-left-style:solid;\n\tborder-left-width:0px;\n\tborder-top-color:#666666;\n\tborder-top-style:solid;\n\tborder-top-width:2px;\n}\ntd._idGenCellOverride-8 {\n\tborder-right-style:solid;\n\tborder-right-width:0px;\n}\ntd._idGenCellOverride-9 {\n\tborder-left-style:solid;\n\tborder-left-width:0px;\n\tborder-right-style:solid;\n\tborder-right-width:0px;\n}\ntd._idGenCellOverride-10 {\n\tborder-left-style:solid;\n\tborder-left-width:0px;\n}\ntd._idGenCellOverride-11 {\n\tborder-bottom-color:#666666;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:1px;\n\tborder-right-style:solid;\n\tborder-right-width:0px;\n}\ntd._idGenCellOverride-12 {\n\tborder-right-style:solid;\n\tborder-right-width:0px;\n\tborder-top-color:#666666;\n\tborder-top-style:solid;\n\tborder-top-width:1px;\n}\ntd._idGenCellOverride-13 {\n\tborder-bottom-color:#808285;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:0px;\n\tborder-top-color:#f2f3f3;\n\tborder-top-style:solid;\n\tborder-top-width:0px;\n\tvertical-align:top;\n}\ntd._idGenCellOverride-14 {\n\tborder-bottom-style:solid;\n\tborder-bottom-width:0px;\n\tborder-top-color:#005dac;\n\tborder-top-style:solid;\n\tborder-top-width:0px;\n}\ntd._idGenCellOverride-15 {\n\tborder-bottom-color:#f2f3f3;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:0px;\n\tborder-top-style:solid;\n\tborder-top-width:0px;\n\tvertical-align:top;\n}\ntd._idGenCellOverride-16 {\n\tborder-bottom-color:#005dac;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:2px;\n\tborder-left-style:solid;\n\tborder-left-width:0px;\n\tborder-right-style:solid;\n\tborder-right-width:0px;\n\tborder-top-style:solid;\n\tborder-top-width:0px;\n}\ntd._idGenCellOverride-17 {\n\tborder-bottom-color:#666666;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:2px;\n\tborder-left-style:solid;\n\tborder-left-width:0px;\n\tborder-top-style:solid;\n\tborder-top-width:0px;\n}\ntd._idGenCellOverride-18 {\n\tborder-bottom-color:#666666;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:1px;\n\tborder-right-style:solid;\n\tborder-right-width:0px;\n\tborder-top-color:#666666;\n\tborder-top-style:solid;\n\tborder-top-width:1px;\n}\ntd._idGenCellOverride-19 {\n\tborder-bottom-color:#e6e6e6;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:0px;\n\tborder-top-color:#f2f3f3;\n\tborder-top-style:solid;\n\tborder-top-width:0px;\n\tvertical-align:top;\n}\ntd._idGenCellOverride-20 {\n\tborder-bottom-color:#e6e6e6;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:0px;\n\tborder-top-color:#e6e6e6;\n\tborder-top-style:solid;\n\tborder-top-width:0px;\n\tvertical-align:top;\n}\ntd._idGenCellOverride-21 {\n\tborder-bottom-color:#f2f3f3;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:0px;\n\tborder-top-color:#e6e6e6;\n\tborder-top-style:solid;\n\tborder-top-width:0px;\n\tvertical-align:top;\n}\ntd._idGenCellOverride-22 {\n\tborder-bottom-style:solid;\n\tborder-bottom-width:0px;\n\tborder-top-style:solid;\n\tborder-top-width:0px;\n\tpadding-bottom:6px;\n\tpadding-top:6px;\n}\ntd._idGenCellOverride-23 {\n\tborder-bottom-style:solid;\n\tborder-bottom-width:0px;\n\tborder-top-style:solid;\n\tborder-top-width:0px;\n}\ntd._idGenCellOverride-24 {\n\tborder-bottom-style:solid;\n\tborder-bottom-width:0px;\n\tborder-right-style:solid;\n\tborder-right-width:0px;\n\tborder-top-style:solid;\n\tborder-top-width:0px;\n\tpadding-bottom:6px;\n\tpadding-top:6px;\n}\ntd._idGenCellOverride-25 {\n\tborder-bottom-color:#000000;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:1px;\n\tborder-top-style:solid;\n\tborder-top-width:0px;\n}\ntd._idGenCellOverride-26 {\n\tborder-bottom-color:#005dac;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:2px;\n\tborder-left-style:solid;\n\tborder-left-width:0px;\n\tborder-right-style:solid;\n\tborder-right-width:0px;\n\tborder-top-color:#000000;\n\tborder-top-style:solid;\n\tborder-top-width:1px;\n}\ntd._idGenCellOverride-27 {\n\tborder-bottom-color:#f2f3f3;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:0px;\n\tborder-top-color:#000000;\n\tborder-top-style:solid;\n\tborder-top-width:1px;\n\tvertical-align:top;\n}\ntd._idGenCellOverride-28 {\n\tborder-bottom-color:#666666;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:2px;\n\tborder-left-style:solid;\n\tborder-left-width:0px;\n\tborder-top-color:#000000;\n\tborder-top-style:solid;\n\tborder-top-width:1px;\n}\ncol._idGenTableRowColumn-1 {\n\twidth:567px;\n}\ncol._idGenTableRowColumn-2 {\n\twidth:12px;\n}\ncol._idGenTableRowColumn-3 {\n\twidth:118px;\n}\ncol._idGenTableRowColumn-4 {\n\twidth:117px;\n}\ntr._idGenTableRowColumn-5 {\n\tmin-height:23px;\n}\ntr._idGenTableRowColumn-6 {\n\theight:28px;\n}\ntr._idGenTableRowColumn-7 {\n\tmin-height:21px;\n}\ncol._idGenTableRowColumn-8 {\n\twidth:566px;\n}\ntr._idGenTableRowColumn-9 {\n\tmin-height:24px;\n}\ntr._idGenTableRowColumn-10 {\n\tmin-height:25px;\n}\ntr._idGenTableRowColumn-11 {\n\theight:13px;\n}\ncol._idGenTableRowColumn-12 {\n\twidth:20px;\n}\ncol._idGenTableRowColumn-13 {\n\twidth:806px;\n}\ntr._idGenTableRowColumn-14 {\n\tmin-height:41px;\n}\ncol._idGenTableRowColumn-15 {\n\twidth:599px;\n}\ncol._idGenTableRowColumn-16 {\n\twidth:106px;\n}\ncol._idGenTableRowColumn-17 {\n\twidth:97px;\n}\ncol._idGenTableRowColumn-18 {\n\twidth:28px;\n}\ncol._idGenTableRowColumn-19 {\n\twidth:749px;\n}\ntr._idGenTableRowColumn-20 {\n\tmin-height:28px;\n}\ncol._idGenTableRowColumn-21 {\n\twidth:507px;\n}\ncol._idGenTableRowColumn-22 {\n\twidth:147px;\n}\ntr._idGenTableRowColumn-23 {\n\tmin-height:30px;\n}\ntr._idGenTableRowColumn-24 {\n\tmin-height:59px;\n}\ncol._idGenTableRowColumn-25 {\n\twidth:797px;\n}\ntr._idGenTableRowColumn-26 {\n\tmin-height:34px;\n}\ntr._idGenTableRowColumn-27 {\n\tmin-height:33px;\n}\ntr._idGenTableRowColumn-28 {\n\tmin-height:95px;\n}\ndiv._idGenObjectStyleOverride-1 {\n\tborder-width:0px;\n}\n\n\t\t<\/style>\n\t<\/head>\n\t<body id=\"Directors-_Report\" lang=\"en-US\">\n\t\t<div id=\"_idContainer000\" class=\"_idGenObjectStyleOverride-1\">\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The directors present their Sixteenth Annual Report and Audited Financial Statements for the year ended 31 March 2023.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Financial Results<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The financial results of the Company are elaborated in the report on<span class=\"Italic\"> <\/span><span class=\"Italic\">Management Discussion and Analysis<\/span><span class=\"Italic\">.<\/span> Given below are the financial highlights:<\/p>\n\t\t\t<table id=\"table001\" class=\"Annual-Report-Main-Table\">\n\t\t\t\t<colgroup>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-1\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-2\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-3\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-2\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-4\" \/>\n\t\t\t\t<\/colgroup>\n\t\t\t\t<tbody>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_04_Table_Particulars _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-1\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_17_Table_Particulars\" lang=\"en-GB\">Sales in numbers<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_07_Table_Thickline_colour _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-3\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_19_Table_Thickline_colour\" lang=\"en-GB\">FY2023<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_06_Table_Thickline_Black _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-4\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_18_Table_Thickline_Black\" lang=\"en-GB\">FY2022<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-6\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-5\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">&#160;<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-6\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-7\" \/>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Two-wheelers<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">3,437,966<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">3,836,856 <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-11\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Commercial vehicles<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">485,018<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">471,577 <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_12_Table_Text-White-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_24_Table_Text_Bold\" lang=\"en-GB\">Total<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_14_Table_Figure-Color-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_29_Table_Figure_Bold_Colour\" lang=\"en-US\">3,922,984<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_16_Table_Figure-White-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_27_Table_Figure_Bold\" lang=\"en-US\">4,308,433 <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-12\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Of which exports<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-13\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">1,821,240<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-13\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">2,506,626 <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t<\/tbody>\n\t\t\t<\/table>\n\t\t\t<table id=\"table002\" class=\"Annual-Report-Main-Table\">\n\t\t\t\t<colgroup>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-8\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-2\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-3\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-2\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-3\" \/>\n\t\t\t\t<\/colgroup>\n\t\t\t\t<tbody>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_02_Table_Rupees_In_Crore _1_Table_11_Table_Text-White-Cell_Plain CellOverride-2 _idGenCellOverride-14\" colspan=\"5\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_16_Rupees_In_Crore\" lang=\"en-US\"> (<span lang=\"en-GB\">\u20b9 <\/span>In Crore) <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-10\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_04_Table_Particulars _1_Table_11_Table_Text-White-Cell_Plain CellOverride-3 _idGenCellOverride-1\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_17_Table_Particulars\" lang=\"en-GB\">Particulars<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-3 _idGenCellOverride-15\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_07_Table_Thickline_colour _1_Table_11_Table_Text-White-Cell_Plain CellOverride-3 _idGenCellOverride-16\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_19_Table_Thickline_colour\" lang=\"en-GB\">FY2023<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-3 _idGenCellOverride-15\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_06_Table_Thickline_Black _1_Table_11_Table_Text-White-Cell_Plain CellOverride-3 _idGenCellOverride-17\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_18_Table_Thickline_Black\" lang=\"en-GB\">FY2022<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-6\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-5\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">&#160;<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-6\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-7\" \/>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Total revenue<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">37,609.02<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">34,353.95 <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-11\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Total expenses<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">30,200.38<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">28,163.90 <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_12_Table_Text-White-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_24_Table_Text_Bold\" lang=\"en-GB\">Profit before exceptional items and tax<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_14_Table_Figure-Color-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_29_Table_Figure_Bold_Colour\" lang=\"en-US\">7,408.64<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_16_Table_Figure-White-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_27_Table_Figure_Bold\" lang=\"en-US\">6,190.05 <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-18\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Exceptional items<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">&#8211;<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">(315.28)<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_12_Table_Text-White-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_24_Table_Text_Bold\" lang=\"en-GB\">Profit before tax<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_14_Table_Figure-Color-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_29_Table_Figure_Bold_Colour\" lang=\"en-US\">7,408.64<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_16_Table_Figure-White-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_27_Table_Figure_Bold\" lang=\"en-US\">6,505.33 <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-18\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Tax expense<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">1,781.04<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">1,486.46 <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_12_Table_Text-White-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_24_Table_Text_Bold\" lang=\"en-GB\">Profit for the year<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_14_Table_Figure-Color-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_29_Table_Figure_Bold_Colour\" lang=\"en-US\">5,627.60<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_16_Table_Figure-White-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_27_Table_Figure_Bold\" lang=\"en-US\">5,018.87 <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_12_Table_Text-White-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_24_Table_Text_Bold\" lang=\"en-GB\">Earnings per share (\u20b9)<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-13\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_14_Table_Figure-Color-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_29_Table_Figure_Bold_Colour\" lang=\"en-US\">197.3<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-13\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_16_Table_Figure-White-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_27_Table_Figure_Bold\" lang=\"en-US\">173.6<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t<\/tbody>\n\t\t\t<\/table>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head ParaOverride-1\" lang=\"en-US\">Closing balances in reserve\/other equity<\/p>\n\t\t\t<table id=\"table003\" class=\"Annual-Report-Main-Table\">\n\t\t\t\t<colgroup>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-8\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-2\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-3\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-2\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-3\" \/>\n\t\t\t\t<\/colgroup>\n\t\t\t\t<tbody>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-11\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_02_Table_Rupees_In_Crore _1_Table_11_Table_Text-White-Cell_Plain CellOverride-4 _idGenCellOverride-14\" colspan=\"5\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_16_Rupees_In_Crore\" lang=\"en-US\"> (\u20b9 In Crore) <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-10\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_04_Table_Particulars _1_Table_11_Table_Text-White-Cell_Plain CellOverride-3 _idGenCellOverride-1\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_17_Table_Particulars\" lang=\"en-GB\">Particulars<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-3 _idGenCellOverride-15\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_07_Table_Thickline_colour _1_Table_11_Table_Text-White-Cell_Plain CellOverride-3 _idGenCellOverride-16\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_19_Table_Thickline_colour\" lang=\"en-GB\">FY2023<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-3 _idGenCellOverride-15\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_06_Table_Thickline_Black _1_Table_11_Table_Text-White-Cell_Plain CellOverride-3 _idGenCellOverride-17\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_18_Table_Thickline_Black\" lang=\"en-GB\">FY2022<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-6\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-5\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">&#160;<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-6\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-7\" \/>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">General reserve<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">6,389.60<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">6,389.60 <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Retained earnings<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">17,821.40<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">19,340.40 <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-5 _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Cash flow hedging reserve<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-5 _idGenCellOverride-19\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-5 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">&#8211;<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-5 _idGenCellOverride-19\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-5 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">54.33<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-6 _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Costs of hedging reserve<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-7 _idGenCellOverride-20\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-7 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">&#8211;<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-7 _idGenCellOverride-20\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-8 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">5.93<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-9 _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">FVTOCI reserve<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-9 _idGenCellOverride-21\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-9 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">927.13<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-9 _idGenCellOverride-21\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-9 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">626.41<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Capital redemption reserve<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">6.41<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">&#8211;<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Share based payments reserve<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">62.09<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">32.27<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-11\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Treasury shares<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">(63.73)<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">(69.51)<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_12_Table_Text-White-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_24_Table_Text_Bold\" lang=\"en-GB\">Total<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-13\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_14_Table_Figure-Color-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_29_Table_Figure_Bold_Colour\" lang=\"en-US\">25,142.90<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-13\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_16_Table_Figure-White-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_27_Table_Figure_Bold\" lang=\"en-US\">26,379.43<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t<\/tbody>\n\t\t\t<\/table>\n\t\t\t<p class=\"_4_Table_30_Table_Footnote\" lang=\"en-GB\"><span class=\"Bold\">Note:<\/span> Detailed movement of above reserves can be seen in \u2018Statement of Changes in Equity\u2019.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Dividend Distribution Policy<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Under the Regulation 43A of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (\u2018the Listing Regulations, 2015\u2019), as amended, the Company has formulated a dividend distribution policy, which sets out the parameters and circumstances that will be taken into account by the Board in determining the distribution of dividend to its shareholders.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">As a green initiative, the amended policy has been uploaded on the Company\u2019s website and can be accessed at <a href=\"https:\/\/www.bajajauto.com\/investors\/policies-codes\"><span class=\"Colour\">https:\/\/www.bajajauto.com\/investors\/policies-codes<\/span><\/a><\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Dividend<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The directors recommend for consideration of shareholders at the ensuing annual general meeting, payment of a dividend of \u20b9 140 per equity share of \u20b9 10 each (1400%) for the year ended 31 March 2023.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">For the year ended 31 March 2022 also, the dividend paid was \u20b9 140 per share of \u20b9 10 each (1400%).<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The dividend recommended is in accordance with the principles and criteria as set out in the dividend distribution policy.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The dividend, if declared, will be taxable in the hands of the shareholders of the Company pursuant to Income Tax Act, 1961. For further details on taxability, please refer to Notice of annual general meeting.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Share Capital and Buyback<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The paid-up equity share capital as on 31 March 2023 was \u20b9 282.96 crore, while as on 31 March 2022, it was \u20b9 289.37 crore. There was no public issue, rights issue, bonus issue or preferential issue etc. during the year. The Company has not issued shares with differential voting rights or sweat equity shares. The reduction in share capital was as a result of buyback of 6,409,662 equity shares made during the year utilising an aggregate amount of \u20b9 2,499.97 crore. As per approval given by the Board, at its meeting held on 27 June 2022, the buyback of the equity shares of the Company was done through open market route through stock exchanges at a price not exceeding \u20b9 4,600 per equity share. The buyback of equity shares commenced on 4 July 2022 and was completed on 10 October 2022.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The details of buyback are available on the website of the Company at <a href=\"https:\/\/www.bajajauto.com\/investors\/share-buyback\"><span class=\"Colour\">https:\/\/www.bajajauto.com\/investors\/share-buyback<\/span><\/a> <\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Operations<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Detailed information on the Company\u2019s operations is in the report on Management Discussion and Analysis.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Capacity Expansion and New Projects<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The Company\u2019s current installed capacity is 6.65 million units per annum.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Detailed information on capacity expansion and new projects is covered in the report on<span class=\"Italic\"> Management Discussion and Analysis.<\/span><\/p>\n\t\t\t<p class=\"_3_Chapter_06_Special-Head\" lang=\"en-US\">Research and Development (R&amp;D) and Technology Absorption<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">FY2023 was a challenging year with many regulatory changes for automotive products to be met under very tight timelines.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">A) Products<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Many new products were launched during the year under review. Pulsar has been consistently upgraded over the years to keep it in sync with changing times. Information on the new products is covered in the report on<span class=\"Italic\"> Management Discussion and Analysis.<\/span><\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">B) Processes<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">R&amp;D has been working on improving its operations in a number of areas as listed below:<\/p>\n\t\t\t<table id=\"table004\" class=\"Annual-Report-Main-Table\">\n\t\t\t\t<colgroup>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-12\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-13\" \/>\n\t\t\t\t<\/colgroup>\n\t\t\t\t<tbody>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-14\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\"><span class=\"Bold\">Manpower: <\/span>R&amp;D has expanded its team size in areas of design, analysis and validation to facilitate the rapidly expanding aspirations of the Company.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-14\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\"><span class=\"Bold\">Facilities:<\/span> R&amp;D continued to enhance its design, computing, prototype manufacturing and validation facilities. A number of new test facilities and prototyping facilities were added.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-14\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\"><span class=\"Bold\">Regulatory requirements:<\/span> R&amp;D had to calibrate and homologate many more variants to meet the new BS6 OBD2 norms. The powertrain and vehicle configurations were adjusted to meet these new norms rapidly. <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t<\/tbody>\n\t\t\t<\/table>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">C) Technology<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">As in the past, new and improved technology has been introduced during the year. Such information is covered in the report on <span class=\"Italic\">Management Discussion and Analysis.<\/span><\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">D) Outgo<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The expenditure on R&amp;D during FY2023 and in the previous year was:<\/p>\n\t\t\t<table id=\"table005\" class=\"Annual-Report-Main-Table\">\n\t\t\t\t<colgroup>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-15\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-2\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-16\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-2\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-17\" \/>\n\t\t\t\t<\/colgroup>\n\t\t\t\t<tbody>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_02_Table_Rupees_In_Crore _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-22\" colspan=\"5\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_16_Rupees_In_Crore\" lang=\"en-US\"> (<span lang=\"en-GB\">\u20b9 <\/span>In Crore) <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_04_Table_Particulars _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-1\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_17_Table_Particulars\" lang=\"en-GB\">Particulars<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-15\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_07_Table_Thickline_colour _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-16\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_19_Table_Thickline_colour\" lang=\"en-GB\">FY2023<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-15\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_06_Table_Thickline_Black _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-17\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_18_Table_Thickline_Black\" lang=\"en-GB\">FY2022<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-6\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-5\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">&#160;<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-6\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-7\" \/>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">i.&#9;Capital (including technical know-how)<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">35.15<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">42.06<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-11\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">ii.&#9;Recurring<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">489.91<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">446.73<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_12_Table_Text-White-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_24_Table_Text_Bold\" lang=\"en-GB\">Total<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_14_Table_Figure-Color-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_29_Table_Figure_Bold_Colour\" lang=\"en-US\">525.06<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_16_Table_Figure-White-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_27_Table_Figure_Bold\" lang=\"en-US\">488.79<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-12\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">iii.&#9;Total research and development expenditure as a percentage of sales&#9;<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-13\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">1.48%<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-13\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">1.52%<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t<\/tbody>\n\t\t\t<\/table>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Conservation of Energy<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Company continues its efforts to reduce and optimise the energy consumption at all its manufacturing facilities, including corporate office at Pune.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text ParaOverride-2\" lang=\"en-US\">Significant reduction in energy consumption has been achieved as shown hereunder (key initiatives):<\/p>\n\t\t\t<table id=\"table006\" class=\"Annual-Report-Main-Table\">\n\t\t\t\t<colgroup>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-18\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-12\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-19\" \/>\n\t\t\t\t<\/colgroup>\n\t\t\t\t<tbody>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-20\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain CellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01\" lang=\"en-US\">A)<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain CellOverride-10\" colspan=\"2\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01\" lang=\"en-US\"> Electrical Energy<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-14\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Energy efficiency improved by replacing IE1 Motors by IE4\/IE5 Motors for Slat Conveyor for Assembly Lines, Hot Water Spray Pump, Water Screen Pump.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Use of ED bath voltage optimisation based on surface area of individual SKUs.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Use of VFD and water temperature sensors for optimised running of cooling tower.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-14\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Provision of energy efficient LED luminaries at various designated areas across all our factories for energy conservation.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Improvement in power factor by addition of automatic power factor control system.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Continued use of motion sensors for offices and washroom lights.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-20\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain CellOverride-10 _idGenCellOverride-23\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01\" lang=\"en-US\">B)<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-23\" colspan=\"2\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01\" lang=\"en-US\">Water<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-14\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Rainwater storage pond with capacity 90,000 cubic meter at Waluj plant, 57,000 cubic meter at Pantnagar plant, and 83,500 cubic meter at Chakan plant are available for its use in process. <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Continuous reuse of treated water for processes like painting, cooling towers, etc. in addition to gardening.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Frequent cleaning of water tank ventilation units. <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Continued rainwater harvesting across all plants. <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Use of one touch taps and sensor-based taps for hand wash at various areas across all plants. <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Reverse cascading of water at pre-treatment stages at paint shop.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Change of underground water lines with above ground line for easy identification of leakage, if any.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-20\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain CellOverride-10 _idGenCellOverride-23\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01 ParaOverride-3\" lang=\"en-US\">C)<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-23\" colspan=\"2\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01 ParaOverride-3\" lang=\"en-US\">LPG\/Propane<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Provision of thermo-ceramic coating for oven inner wall in place of GI sheet for Paint Shops.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Installation of IR heaters on pre-treatment line to reduce hot water generator PNG consumption.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Exhaust modulation based on oven heating load.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Automated process Startup and Shutdown System for PTED Line.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Continued use of magnetic resonance in oven PNG supply.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Continued use of low temperature chemical for pre-treatment process at paint shop.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Provision of IR heaters in painting booth flash off zones to reduce ASU burner PNG consumption.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Use of energy efficient burners in canteen in all plants.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-20\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain CellOverride-10 _idGenCellOverride-23\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01 ParaOverride-3\" lang=\"en-US\">D)<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-23\" colspan=\"2\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01 ParaOverride-3\" lang=\"en-US\">Utilisation of Renewable Energy-Key Initiatives<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-14\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Usage of renewable solar power generation: 5MW at Waluj, 1MW at Pantnagar, 3.2MW at Akurdi and 2MW at Chakan; generating 155 lakh units per year renewable energy.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Utilisation of solar water heater in canteen of all plants.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Utilisation of hot water rooftop solar system for residential area for positive resource utilisation.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Use of direct sunlight to illuminate shops by installation of \u2018skylights\u2019 across all plants.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t<\/tbody>\n\t\t\t<\/table>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Impact of Measures Taken<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">As a result of the initiatives taken for conservation of energy and natural resources, the Company has achieved an overall reduction in consumption as given in the table below: <\/p>\n\t\t\t<table id=\"table007\" class=\"Annual-Report-Main-Table\">\n\t\t\t\t<colgroup>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-21\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-2\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-22\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-2\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-22\" \/>\n\t\t\t\t<\/colgroup>\n\t\t\t\t<tbody>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-23\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_02_Table_Rupees_In_Crore _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-22\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_02_Table_Rupees_In_Crore _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-24\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_08_Table_Thinline_0-5 _1_Table_11_Table_Text-White-Cell_Plain CellOverride-11 _idGenCellOverride-25\" colspan=\"3\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_21_Table_Thinline_0-5\" lang=\"en-GB\"><span class=\"Bold\">% Reduction w.r.t. previous year<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_04_Table_Particulars _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-1\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_17_Table_Particulars\" lang=\"en-GB\">Description<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-15\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_07_Table_Thickline_colour _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-26\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_19_Table_Thickline_colour\" lang=\"en-GB\">FY2023<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-27\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_06_Table_Thickline_Black _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-28\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_18_Table_Thickline_Black\" lang=\"en-GB\">FY2022<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-6\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-5\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">&#160;<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-6\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-7\" \/>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Electricity consumption<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\"># 1.19<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">3.95<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Water consumption<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\"># (4.53)<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">3.93<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">LPG\/PNG consumption<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-13\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">4.22<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-13\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">17.84<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t<\/tbody>\n\t\t\t<\/table>\n\t\t\t<p class=\"_4_Table_30_Table_Footnote\" lang=\"en-GB\"># Impact of addition of new facilities and lower production volume of Motorcycles at Waluj.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Investment\/Savings<\/p>\n\t\t\t<table id=\"table008\" class=\"Annual-Report-Main-Table\">\n\t\t\t\t<colgroup>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-21\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-2\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-22\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-2\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-22\" \/>\n\t\t\t\t<\/colgroup>\n\t\t\t\t<tbody>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_02_Table_Rupees_In_Crore _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-22\" colspan=\"5\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_16_Rupees_In_Crore\" lang=\"en-US\">(<span lang=\"en-GB\">\u20b9 <\/span>In Crore)<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_04_Table_Particulars _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-1\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_17_Table_Particulars\" lang=\"en-GB\">Description<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-15\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_07_Table_Thickline_colour _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-16\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_19_Table_Thickline_colour\" lang=\"en-GB\">FY2023<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-15\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_06_Table_Thickline_Black _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-17\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_18_Table_Thickline_Black\" lang=\"en-GB\">FY2022<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-20\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-5\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">&#160;<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-6\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-7\" \/>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Investment for energy conservation activities<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">1.55<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">1.76<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Recurring savings achieved through above activities<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-13\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">0.87<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-13\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">0.91<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t<\/tbody>\n\t\t\t<\/table>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Awards and Accolades<\/p>\n\t\t\t<table id=\"table009\" class=\"Annual-Report-Main-Table\">\n\t\t\t\t<colgroup>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-12\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-13\" \/>\n\t\t\t\t<\/colgroup>\n\t\t\t\t<tbody>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-14\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Upgradation of \u2018Occupational Health and Safety Management Systems\u2019 from OHSAS 18001 to ISO 45001 by all plants of the Company.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Pantnagar plant received \u2018Platinum Award\u2019 in \u2018Green Practices Award Competition\u2019 organised by CII.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Pantnagar plant received \u2018Silver Award\u2019 in \u201810th CII-National Excellence Practice Competition\u2019 organised by CII.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Pantnagar plant won \u2018Northern Region EHS Competition\u2019 organised by CII. <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-14\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Pantnagar plant is awarded \u2018Best Practices in Energy Conservation\u2019 in \u2018Green Practices Award Competition\u2019 organised by CII.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Chakan plant is awarded by CII for excellence in \u2018Energy Management 2022-Energy Efficient Unit\u2019.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-14\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Waluj Rooftop Solar plant won \u2018Excellence in Performance Award-Rooftop Solar\u2019 Award in CII Performance Excellence Awards 2022 for Solar and Wind plants.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Waluj plant won \u2018Energy Efficient Unit\u2019 Award in \u201823rd CII-National Award for Energy Excellence-2022\u2019, organised by CII.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t<\/tbody>\n\t\t\t<\/table>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">International Business<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">FY2023 has been a difficult year for exports. During the year under review, Bajaj Auto sold 1.82 million units versus 2.5 million vehicles in the previous year.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">More detailed information is given in the report on<span class=\"Italic\"> Management Discussion and Analysis.<\/span><\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Foreign Exchange Earnings and Outgo<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The Company continued to be a net foreign exchange earner during the year.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Total foreign exchange earned by the Company during the year under review was \u20b9 14,461.47 crore, as compared to \u20b9 16,280.38 crore during the previous year.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Total foreign exchange outflow during the year under review was \u20b9 1,138.68 crore, as against \u20b9 902.08 crore during the previous year.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Industrial Relations<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Bajaj Auto\u2019s approach to its human resources is premised on the fundamental belief in fostering meritocracy in the organisation, which promotes diversity and offers equal opportunities to all employees. We believe in respecting human rights and actively developing people who will contribute to society by nurturing them and giving them opportunities to apply their skills.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">In the financial year 2022-23, the Company continued to deliver on its commitment to excellence. Passing successive milestones, business excellence has been further strengthened by well-defined goals and employee engagement strategies. The overall employee relations with staff and workmen across all the plants viz. Akurdi, Waluj, Chakan and Pantnagar continued to be cordial during the year.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">A core component of infusing joy at the workplace is to layer-in non-work activities that get people excited and encourage involvement. The Company has focused on \u2018Yutori\u2019 concept means \u2018Joy at Workplace\u2019. Below are three areas under Yutori, for fostering a more positive and fulfilling professional experience.<\/p>\n\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01\" lang=\"en-US\">1.  Body-Physical Happiness<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Various initiatives were carried out to sustain and improve physical fitness. Some of them are workplace improvement in terms of ergonomics, work environment improvement, health improvement with medical check-up followed by consultation and physical fitness programs.<\/p>\n\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01\" lang=\"en-US\">2.  Mind-Mental Happiness<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">To improve mental happiness, we focused on education and training, stress-free operations, healthy communication and interpersonal relationships, rewards and recognition as well as personal and professional growth. <\/p>\n\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01\" lang=\"en-US\">3.  Soul-Spiritual Wellbeing<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Various initiatives were taken for spiritual well-being like yoga and meditation sessions, women\u2019s day celebration, people involvement and participation through kaizen competition, trust building through family care and trekking activities and collaborative culture development.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">With the active participation and involvement of all employees, we have been able to inculcate a TPM culture for excellence and continuous improvements across all plants. As a result, the plants have received numerous awards during the year from CII, IIIE, QCFI, Aditya Birla Group etc. Waluj plant has won two gold medals at the national level in the QCFI competition; both teams are qualified for international competition.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The Company has been developing and retaining a gender-diverse talent pool of motivated employees. The Company has taken active steps for engaging women\u2019s talent, contributing to improving women\u2019s workforce participation in the economy.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">With continuous improvement activities through various committees, relations with workers and unions have improved and all wage settlements are taking place in time and without any trouble. The Company signed a long-term settlement with the union for a period of 3.5 years on 1 January 2023 at the Chakan plant.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Prioritising employees\u2019 health, various state-of-the-art sports and health facilities have been provided to the employees. Employees have bagged prizes in multiple sports events like weightlifting, swimming organised by Industrial Sports Association (ISA), Pune. Employees of Waluj plant won 8 gold medals, 5 silver medals and 6 bronze medals at 42nd National Athletics Championship.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">With a view to serving the community, the employees were also involved in Company organised charitable events. These include donation drives, stalls for NGOs, blood donation camps, tree plantations etc.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The Company will continue its efforts for building and sustaining a high sense of belongingness and high-performance culture at the workplace.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Subsidiaries and Joint Ventures<\/p>\n\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01\" lang=\"en-US\">PT. Bajaj Auto Indonesia (PT BAI)<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Routine business operations of PT BAI, a 99.25% subsidiary of Bajaj Auto Ltd., remain discontinued.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Indonesia is a large two-wheelers market and hence of interest for PT BAI.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">PT BAI would continue to study the evolving market and evaluate different possible opportunities.<\/p>\n\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01\" lang=\"en-US\">Bajaj Auto International Holdings BV, Netherlands (BAIH BV)<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">BAIH BV is a 100% Netherlands based subsidiary of Bajaj Auto Ltd. Over the years from 2007 to 2013, through this subsidiary, Bajaj Auto Ltd. has invested a total of \u20ac198.1 million (\u20b91,219 crore) and holds 49.9% stake in Pierer Bajaj AG (PBAG). 50.1% in PBAG is held by Pierer Group.<\/p>\n\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01\" lang=\"en-US\">Bajaj Auto (Thailand) Ltd.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Bajaj Auto (Thailand) Ltd. was incorporated as a wholly owned subsidiary in Thailand with an issued and subscribed share capital of Thai Baht (THB) 45 million (\u20b9 10 crore). An Engineering Design Centre (EDC) is set up under this subsidiary.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Bajaj Auto (Thailand) Ltd. has all necessary approvals from local authorities. The EDC is operational and international designers are working from this new facility in Bangkok.<\/p>\n\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01\" lang=\"en-US\">Bajaj Auto Spain S.L.U.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Bajaj Auto Spain S.L.U. was incorporated as a wholly owned subsidiary in Barcelona, Spain with an issued and subscribed share capital of \u20ac600K (\u20b9 5 crore), the intent being to set up an Engineering Design Centre (EDC).<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The EDC has just started operations with the facility being set-up and is expected to be fully operational in the coming year. <\/p>\n\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01\" lang=\"en-US\">Chetak Technology Ltd. (CTL)<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Given the stakes and likely impact of EVs on its business, Bajaj Auto Ltd. wants to be ahead of this curve. For effectively engaging in this domain, CTL was incorporated as a wholly owned subsidiary of the Company on 4 October 2021 with an issued and subscribed share capital of \u20b9 5 crore to develop new technologies and products, have dedicated manufacturing, sales, after-sales and offer customer centric experiences.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">During the year under review, additional capital of \u20b9 465 crore has been infused in CTL by way of rights issue. Plans have also been drawn to set up a new state-of-the-art manufacturing facility at Akurdi.<\/p>\n\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01\" lang=\"en-US\">Bajaj Auto Consumer Finance Ltd. (BACFL)<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Financing is key to every automobile business. To increase geographic coverage and expand financing options for the retail customers of Bajaj Auto Ltd. and Chetak Technology Ltd., a wholly owned captive financing company i.e. BACFL was formed on 6 December 2021 with an issued and subscribed share capital of \u20b9 5 crore. During the year under review, additional capital of \u20b9 25 crore has been infused in BACFL by way of rights issue.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">An application for registration of BACFL as NBFC has been made to RBI and the matter is under process.<\/p>\n\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01\" lang=\"en-US\">Bajaj Do Brasil Comercio De Motocicletas Ltda<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Brazil is an important market for motorcycles in Latin America. To address this, Bajaj Auto Ltd. has set up a wholly owned subsidiary on 31 March 2022 with a paid up equity share capital of BRL 30 million  (\u20b9 48 crore). The subsidiary has just started operations after obtaining all necessary approvals. Full scale operations are likely to commence in the coming year.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">More detailed information is given in the report on <span class=\"Italic\">Management Discussion and Analysis.<\/span><\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The financial statements of the subsidiary companies are also available on the Company\u2019s website on <a href=\"https:\/\/www.bajajauto.com\/investors\/financial-and-operational-performance\"><span class=\"Colour\">https:\/\/www.bajajauto.com\/investors\/financial-and-operational-performance<\/span><\/a><span class=\"Colour\"> <\/span><\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The Company does not have any associate company, nor has it entered into a joint venture with any other company.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The Company\u2019s policy for determination of material subsidiary, as adopted by the Board of Directors, in conformity with regulation 16 of the Listing Regulations, 2015, can be accessed on the Company\u2019s website at <a href=\"https:\/\/www.bajajauto.com\/investors\/policies-codes\"><span class=\"Colour\">https:\/\/www.bajajauto.com\/investors\/policies-codes<\/span><\/a><\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Anti-Corruption Initiatives<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The Company has established several policies to prevent corruption within Bajaj Auto Ltd. These are suitably integrated with the business operations. The Company also has adequate disclosure practices with regard to anti-corruption activities. Some of these practices are given below:<\/p>\n\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01\" lang=\"en-US\">Signing of the Anti-Corruption Initiative of World Economic Forum (WEF)<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">In support of the initiative taken by WEF, the Company is a signatory to the \u2018Commitment to Anti-Corruption\u2019 and is supporting the \u2018Partnering Against Corruption-Principles for Countering Bribery\u2019 derived from Transparency International\u2019s Business Principles. This calls for a commitment to two fundamental actions, viz. a zero-tolerance policy towards bribery and the development of a practical and effective implementation programme.<\/p>\n\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01\" lang=\"en-US\">Adoption of the Confederation of Indian Industry (CII) Charters<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Your Company, being a member of CII, has adopted the following Codes\/Charters:<\/p>\n\t\t\t<table id=\"table010\" class=\"Annual-Report-Main-Table\">\n\t\t\t\t<colgroup>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-12\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-13\" \/>\n\t\t\t\t<\/colgroup>\n\t\t\t\t<tbody>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">1.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">CII Code of Conduct for Affirmative Action.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">2.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Model Code of Conduct for Ethical Business practices.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">3.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Charters of Fair and Responsible Workplace Guidelines for Collaborative Employee Relations.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">4.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Charters on Fair and Responsible Workplace Guidelines for Contract Labour.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t<\/tbody>\n\t\t\t<\/table>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text ParaOverride-4\" lang=\"en-US\">More details on the subject are given in the <span class=\"Italic\">Business Responsibility and Sustainability Report<\/span> hosted on the Company\u2019s website on <a href=\"https:\/\/www.bajajauto.com\/investors\/financial-and-operational-performance\"><span class=\"Colour\">https:\/\/www.bajajauto.com\/investors\/financial-and-operational-performance<\/span><\/a> <\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Annual Return &#9;<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">A copy of the annual return as provided under sub-section (3) of section 92 of the Companies Act, 2013 (\u2018the Act\u2019), in the prescribed form, which will be filed with Registrar of Companies\/MCA, is hosted on the Company\u2019s website and can be accessed at <a href=\"https:\/\/www.bajajauto.com\/investors\/financial-and-operational-performance\"><span class=\"Colour\">https:\/\/www.bajajauto.com\/investors\/financial-and-operational-performance<\/span><\/a> <\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Number of Meetings of the Board<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">There were seven meetings of the Board held during the year. Detailed information is given in the <span class=\"Italic\">Corporate Governance Report.<\/span><\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Directors\u2019 Responsibility Statement<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">As required under clause (c) of sub-section (3) of section 134 of the Act, directors, to the best of their knowledge and belief, state that:<\/p>\n\t\t\t<table id=\"table011\" class=\"Annual-Report-Main-Table\">\n\t\t\t\t<colgroup>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-12\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-13\" \/>\n\t\t\t\t<\/colgroup>\n\t\t\t\t<tbody>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-14\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-24\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">they have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent, so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit and loss of the Company for the year ended 31 March 2023;<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-24\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">they have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">they have overseen that the annual accounts have been prepared on a going concern basis;<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-24\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">they have laid down internal financial controls to be followed by the Company and that, to the best of their knowledge, examination and analysis, such internal financial controls have been adequate and were operating effectively; and<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-24\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">they have ensured through oversight of the existence of proper systems to ensure compliance with the provisions of all applicable laws and that, to the best of their knowledge, such systems were adequate and were operating effectively.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t<\/tbody>\n\t\t\t<\/table>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Details regarding Frauds reported by Auditors under section 143(12)<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">During the year under review, the auditors i.e. statutory auditors and secretarial auditors have not reported any matter under section 143(12) of the Act, and therefore, no details are required to be disclosed under section 134(3)(ca) of the Act.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Declaration by independent directors<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The independent directors have submitted their declaration of independence, as required under section 149(7) of the Act stating that they meet the criteria of independence as provided in section 149 (6) of the Act, read with regulation 16 and 25 of the Listing Regulations, 2015, as amended. The independent directors have also confirmed compliance with the provisions of section 150 of the Act read with rule 6 of Companies (Appointment and Qualifications of Directors) Rules, 2014, as amended, relating to inclusion of their name in the databank of independent directors.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The Board took on record the declaration and confirmation submitted by the independent directors regarding their meeting the prescribed criteria of independence, after undertaking due assessment of the veracity of the same as required under regulation 25 of the Listing Regulations, 2015.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Directors\u2019 remuneration policy and criteria for matters under section 178<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The salient features and changes to the policy on directors\u2019 appointment and remuneration, including the criteria for determining qualifications, positive attributes, independence of a director and other matters, as required under sub-section (3) of section 178 of the Act form a part of the<span class=\"Italic\"> Corporate Governance Report. <\/span>The policy is on the Company\u2019s website <a href=\"https:\/\/www.bajajauto.com\/investors\/policies-codes\"><span class=\"Colour\">https:\/\/www.bajajauto.com\/investors\/policies-codes<\/span><\/a><\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Particulars of Loans, Guarantees or Investments<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Information regarding loans, guarantees and investments covered under the provisions of section 186 of the Act, are detailed in the financial statements.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Related Party Transactions<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">All contracts\/arrangement\/transactions entered into by the Company during FY2023 with related parties were in compliance with the applicable provisions of the Act and the Listing Regulations, 2015. Prior omnibus approval of the audit committee is obtained for all related party transactions, which are foreseen and of repetitive nature. Pursuant to the said omnibus approval, details of transactions entered into are also reviewed by the audit committee on a quarterly basis.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">All related party transactions entered into during FY2023 were on an arm\u2019s length basis and in the ordinary course of business of the Company under the Act and not material under the Listing Regulations, 2015. However, during the year, prior approval of shareholders was obtained for the material transactions with KTM Sportmotorcycle GmbH (Associate of Bajaj Auto Ltd.\u2019s 100% subsidiary, Bajaj Auto International Holdings BV, based in Netherlands) vide ordinary resolution through postal ballot on 21 November 2022 as it was estimated that the transaction value would cross the applicable materiality thresholds under the amended Listing Regulations, 2015 (i.e. \u20b9 1,000 crore, or 10% of the annual consolidated turnover as per the last audited financial statements of the listed entity, whichever is lower).<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Details of transactions with related parties during FY2023 are provided in the notes to the financial statements. There were no transactions requiring disclosure under section 134(3)(h) of the Act. Hence, the prescribed Form AOC\u20132 does not form a part of this report.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The policy on materiality of and dealing with related party transactions is available on the Company\u2019s website at <a href=\"https:\/\/www.bajajauto.com\/investors\/policies-codes\"><span class=\"Colour\">https:\/\/www.bajajauto.com\/investors\/policies-codes<\/span><\/a><span class=\"Colour\"> <\/span><\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Material Changes and Commitments<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">There have been no material changes and commitments affecting the financial position of the Company, which have occurred between the end of the financial year and the date of this Report.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Risk Management Policy<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Pursuant to regulation 21 of the Listing Regulations, 2015, as amended, risk management policy\/framework was adopted by the Board. This framework,<span class=\"Italic\"> inter alia,<\/span> includes identification of internal and external risks faced by the Company, including financial, operational, sectoral, sustainability, information, cyber security, strategic or any other risk as may be determined by the risk management committee and the measures for risk mitigation, reporting of critical risks within the Company and business continuity plan.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Information on the development and implementation of a risk management policy for the Company is given in the <span class=\"Italic\">Corporate Governance Report.<\/span><\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Corporate Social Responsibility (CSR)<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The CSR policy including the composition of the CSR committee is hosted on the Company\u2019s website <a href=\"https:\/\/www.bajajauto.com\/-\/media\/bajajauto\/Investors\/code-policy\/BAL-Revised-CSR-Policy-29-April-2021.ashx\"><span class=\"Colour\">https:\/\/www.bajajauto.com\/-\/media\/bajajauto\/Investors\/code-policy\/BAL-Revised-CSR-Policy-29-April-2021.ashx<\/span><\/a><span class=\"Colour\"> <\/span><\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Taking into account the commitments made by the Company for the ongoing CSR projects\/programs which are in progress and considering the project mode of CSR activity where the projects can extend beyond the financial year, as also the amount transferred to \u2018Unspent CSR Account\u2019, there is no shortfall in the CSR expenditure mandated to be spent by the Company during the financial year ended 31 March 2023.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">As per provisions of section 135(6) of the Act, any amount remaining unspent under section 135(5) pursuant to any ongoing project shall be transferred by the company within a period of thirty days from the end of the financial year to a special account to be opened by the company. Accordingly, such amount has been transferred by the Company to the specified account within the prescribed period.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Detailed information on CSR policy, its salient features, CSR initiatives undertaken during the year, details pertaining to spent and unspent amount forms part of Annual Report on CSR activities, which is annexed to this Report.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The Chief Financial Officer has certified that the funds disbursed have been utilised for the purpose and in the manner approved by the Board for FY2023.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Formal Annual Evaluation of the Performance of the Board, its committees, chairman and individual directors<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Information on the manner in which a formal annual evaluation has been made by the Board of its own performance and that of its committees, chairman and individual directors is given in the<span class=\"Italic\"> Corporate Governance Report.<\/span><\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Presentation of Financial Statements<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The financial statements of the Company for the year ended 31 March 2023 have been disclosed as per Division Il of Schedule III to the Act.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Indian Accounting Standards, 2015<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The annexed financial statements comply in all material aspects with Indian Accounting Standards  (Ind AS) notified under section 133 of the Act, Companies (Indian Accounting Standards) Rules, 2015 and other relevant provisions of the Act.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Consolidated Financial Statements<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The audited consolidated financial statements incorporating the duly audited financial statements of the subsidiaries, as prepared in compliance with the Act, applicable accounting standards and Listing Regulations, 2015 along with all relevant documents and the Auditors\u2019 Report form a part of this Report.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Internal Audit<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">At the beginning of each financial year, an audit plan is rolled out with approval by the Company\u2019s audit committee. The plan is aimed at evaluation of the efficacy and adequacy of internal control systems and compliance thereof, robustness of internal processes, policies and accounting procedures and compliance with laws and regulations. Based on the reports of internal audit, process owners undertake corrective action in their respective areas. Significant audit observations and corrective actions are periodically presented to the audit committee of the Board.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Statutory Disclosures<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The summary of the key financials of the Company\u2019s subsidiaries (Form AOC-1) is included in this Annual Report. A copy of the audited financial statements for each of the subsidiary companies will be made available to members of the Company, seeking such information at any point of time. The financial statements of the Company and its subsidiaries are placed on the Company\u2019s website at <a href=\"https:\/\/www.bajajauto.com\/investors\/financial-and-operational-performance\"><span class=\"Colour\">https:\/\/www.bajajauto.com\/investors\/financial-and-operational-performance<\/span><\/a> <\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Details as required under the provisions of section 197(12) of the Act, read with rule 5(1) of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, as amended, containing,<span class=\"Italic\"> inter alia,<\/span> ratio of remuneration of directors and KMP to median remuneration of employees and percentage increase in the median remuneration are annexed to this Report.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Details of top ten employees in terms of the remuneration and employees in receipt of remuneration as required under the provisions of section 197(12) of the Act, read with rule 5(2) and 5(3) of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, as amended, which form part of the Directors\u2019 Report, will be made available to any shareholder on request, as per provisions of section 136(1) of the said Act.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The provisions of section 148 of the Act relating to maintenance of cost records and cost audit are not applicable to the Company.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Pursuant to the legislation \u2018The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013\u2019, the Company has a policy on Prevention of Sexual Harassment at Workplace. During the year under review, no complaint has been received from employees. There was no other case reported during the year under review under the said policy.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">There is no change in the nature of business of the Company during FY2023.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The securities of the Company were not suspended from trading during the year on account of corporate actions or otherwise.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">A cash flow statement for 2022-23 is attached to the Balance Sheet.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The Managing Director, as per the terms of his appointment, does not draw any commission or remuneration from subsidiary companies. Hence, no disclosure as required under section 197(14) of the Act has been made.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Details as prescribed under section 134 of the Act and Rules made thereunder, applicable to the Company, have been specifically given in this Report, wherever applicable.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Directors\u2019 and Key Managerial Personnel-Changes <\/p>\n\t\t\t<table id=\"table012\" class=\"Annual-Report-Main-Table\">\n\t\t\t\t<colgroup>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-18\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-25\" \/>\n\t\t\t\t<\/colgroup>\n\t\t\t\t<tbody>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-20\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_11_Sub_Head_02\" lang=\"en-US\">I.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_11_Sub_Head_02\" lang=\"en-US\">Changes in Directorate<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-24\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Shekhar Bajaj, Non-executive non-independent director of the Company tendered his resignation with effect from close of business hours on 30 June 2022. The Board places on record its deep appreciation of valuable guidance provided by him during his very long tenure on the Board.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-26\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_11_Sub_Head_02\" lang=\"en-US\">II.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_11_Sub_Head_02\" lang=\"en-US\">Retirement by Rotation<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-14\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Independent directors hold office for a fixed term not exceeding five years from the date of their appointment and are not liable to retire by rotation.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-14\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The Act mandates that at least two\u2013thirds of the total number of directors (excluding independent directors) shall be liable to retire by rotation. <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-24\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Accordingly, Niraj Bajaj (DIN 00028261), Sanjiv Bajaj (DIN 00014615) and Madhur Bajaj  (DIN 00014593), directors, being the longest in the office among the directors liable to retire by rotation, retire from the Board this year and, being eligible, have offered themselves for re\u2013appointment. <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Brief details of Niraj Bajaj, Sanjiv Bajaj and Madhur Bajaj are given in the notice of annual general meeting.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-27\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_11_Sub_Head_02\" lang=\"en-US\">III.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_11_Sub_Head_02\" lang=\"en-US\"> Appointment\/Re-appointment of Directors<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-28\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Rakesh Sharma (DIN 08262670) was appointed as a Whole-time director of the Company for a period of five years from 1 January 2019 up to 31 December 2023. The Board, on recommendation of nomination and remuneration committee and after evaluating his performance and the valuable contribution made by him in the progress of the Company, has approved his re-appointment for another term of five years commencing from 1 January 2024, subject to approval of shareholders. <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-14\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Accordingly, resolution seeking his re-appointment for a further term of five years and brief details of Rakesh Sharma are given in the notice of annual general meeting.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t<\/tbody>\n\t\t\t<\/table>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">There was no other change in the directors and key managerial personnel during the year under review since the last report.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Detailed information on the directors is provided in the<span class=\"Italic\"> Corporate Governance Report.<\/span><\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Significant and Material Orders passed by the Regulators or Courts<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">During the year under review, there were no significant and material orders passed by the regulators or courts or tribunals, which may impact the going concern status of the Company and its operations in future.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Details of Internal Financial Controls with reference to the Financial Statements<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The Company has documented its internal financial controls considering the essential components of various critical processes, both physical and operational. This includes its design, implementation and maintenance, along with periodic internal review of operational effectiveness and sustenance and whether these are commensurate with the nature of its business and the size and complexity of its operations.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">This ensures orderly and efficient conduct of its business, including adherence to the Company\u2019s policies, safeguarding of its assets, prevention of errors, accuracy and completeness of the accounting records and the timely preparation of reliable financial information.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Internal financial controls with reference to the financial statements were adequate and operating effectively.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Corporate Governance<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Pursuant to the Listing Regulations, 2015, a separate chapter titled \u2018Corporate Governance\u2019 has been included in this Annual Report, along with the reports on<span class=\"Italic\"> Management Discussion and Analysis<\/span> and<span class=\"Italic\"> General Shareholder Information.<\/span><\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">All Board members and senior management personnel have affirmed compliance with the Code of Conduct for FY2023. A declaration to this effect signed by the Managing Director (CEO) of the Company is contained in this Annual Report.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The Managing Director (CEO) and Chief Financial Officer have certified to the Board with regard to the financial statements and other matters as required under regulation 17(8) of the Listing Regulations, 2015.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Certificate from the auditors of the Company regarding compliance of conditions of corporate governance is annexed to this Report.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Employee Stock Option Scheme<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The Company grants share-based benefits to eligible employees with a view to attracting and retaining talent, to encourage employees to align individual performance with the Company objectives and to promote their increased participation in the growth of the Company.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">During the year under review, there has been no change in the Bajaj Auto Employee Stock Option Scheme 2019 (BAL-ESOS 2019) of the Company. BAL-ESOS 2019 is in compliance with SEBI (Share Based Employee Benefits) Regulations, 2014, and this has been certified by the secretarial auditor of the Company.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">In line with regulation 14 of the SEBI (Share Based Employee Benefits) Regulations, 2014, a statement giving complete details, as at 31 March 2023, is available on the website of the Company at <a href=\"https:\/\/www.bajajauto.com\/investors\/financial-and-operational-performance\"><span class=\"Colour\">https:\/\/www.bajajauto.com\/investors\/financial-and-operational-performance<\/span><\/a><span class=\"Colour\"> <\/span><\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Details of options vested, exercised and cancelled are provided in the notes to the standalone financial statements.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Business Responsibility and Sustainability Report <\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Pursuant to amendment in the Listing Regulations, 2015, top 1,000 listed entities based on market capitalisation are required to submit a Business Responsibility and Sustainability Report (\u2018BRSR\u2019) with effect from the FY2023.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Accordingly, a detailed BRSR in the format prescribed by SEBI describing various initiatives, actions and process of the Company in conducting its business in line with its environmental, social and governance obligations has been hosted on Company\u2019s website and can be accessed at <a href=\"https:\/\/www.bajajauto.com\/investors\/financial-and-operational-performance\"><span class=\"Colour\">https:\/\/www.bajajauto.com\/investors\/financial-and-operational-performance<\/span><\/a><span class=\"Colour\"> <\/span><\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">A physical copy of the BRSR will be made available to any shareholder on request.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Secretarial Standards of ICSI<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The Company has complied with the requirements prescribed under the Secretarial Standards on Meetings of the Board of Directors (SS\u20131) and General Meetings (SS\u20132) read with the MCA Circulars granting exemptions in view of the Covid-19 pandemic.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Statutory Auditor<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Pursuant to the provisions of section 139 of the Act, the members at the annual general meeting of the Company held on 26 July 2022 appointed S R B C &amp; CO LLP (Firm Registration No. 324982E\/E300003) as statutory auditors of the Company from the conclusion of 15th annual general meeting till the conclusion of 20th annual general meeting, covering second term of five consecutive years. The statutory auditors have confirmed that they are not disqualified from continuing as auditors of the Company.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The statutory audit report for the financial year 2022-23 does not contain any qualification, reservation or adverse remark or disclaimer made by statutory auditor.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Secretarial Auditor<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Pursuant to the provisions of section 204 of the Act and Rules made thereunder, the Company has appointed, Shyamprasad D Limaye, Practising Company Secretary (Membership No.1587, CP No. 572) to undertake the secretarial audit of the Company. Secretarial audit report for the financial year 2022-23 issued by him in the prescribed form MR-3 is annexed to this Report.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">In addition to the above, pursuant to regulation 24A(2) of the Listing Regulations, 2015, a report on secretarial compliance for the financial year ended 31 March 2023 has been issued by Shyamprasad D Limaye and the same will be submitted with the stock exchanges within the given timeframe. The report will be made available on the website of the Company.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">There are no observations, reservations or qualifications or adverse remark in any of the aforesaid reports.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text ParaOverride-5\" lang=\"en-US\">On behalf of the Board of Directors,<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text ParaOverride-6\" lang=\"en-US\">Niraj Bajaj <\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text ParaOverride-6\" lang=\"en-US\">Chairman<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text ParaOverride-6\" lang=\"en-US\">DIN: 00028261<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Pune: 25 April 2023<\/p>\n\t\t<\/div>\n\t<\/body>\n<\/html>\n\n\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n<\/div>\n<div class=\"row show-for-small\"  id=\"row-541933338\">\n\n\n\t<div id=\"col-2026814106\" class=\"col small-12 large-12\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\n\n\t<section class=\"section dark\" id=\"section_2147278273\">\n\t\t<div class=\"section-bg fill\" >\n\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1116\" height=\"254\" src=\"https:\/\/investors.bajajauto.com\/ar23\/wp-content\/uploads\/2023\/06\/Hedeing_BK-1.png\" class=\"bg attachment- size-\" alt=\"\" \/>\t\t\t\t\t\t\n\t\t\t\n\n\t\t<\/div>\n\n\t\t\n\n\t\t<div class=\"section-content relative\">\n\t\t\t\n\n<h2>Director&#8217;s Report<\/h2>\n\n\t\t<\/div>\n\n\t\t\n<style>\n#section_2147278273 {\n  padding-top: 30px;\n  padding-bottom: 30px;\n  background-color: rgb(40, 40, 40);\n}\n<\/style>\n\t<\/section>\n\t\n\t<div id=\"gap-1978426923\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1978426923 {\n  padding-top: 30px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\n\n<!DOCTYPE html>\n<html xmlns=\"http:\/\/www.w3.org\/1999\/xhtml\" lang=\"en-US\">\n\t<head>\n\t\t<meta charset=\"utf-8\" \/>\n\t\t<title>Directors&apos;_Report<\/title>\n\t\t<style>\n\t\t\tbody, div, dl, dt, dd, h1, h2, h3, h4, h5, h6, p, pre, code, blockquote {\n\tmargin:0;\n\tpadding:0;\n\tborder-width:0;\n}\nbody {\n\t-epub-hyphens:auto;\n}\ntable.Annual-Report-Main-Table {\n\tborder-collapse:collapse;\n\tborder-style:none;\n\tborder-width:0px;\n\tmargin-bottom:0px;\n\tmargin-top:0px;\n}\ntd.Annual-Report-Main-Table {\n\tborder-left-width:1px;\n\tborder-left-style:solid;\n\tborder-left-color:#000000;\n\tborder-top-width:1px;\n\tborder-top-style:solid;\n\tborder-top-color:#000000;\n\tborder-right-width:1px;\n\tborder-right-style:solid;\n\tborder-right-color:#000000;\n\tborder-bottom-width:1px;\n\tborder-bottom-style:solid;\n\tborder-bottom-color:#000000;\n\tpadding-top:4px;\n\tpadding-bottom:4px;\n\tpadding-left:4px;\n\tpadding-right:4px;\n\tvertical-align:top;\n}\ntd._1_Table_02_Table_Rupees_In_Crore {\n\tborder-bottom-style:solid;\n\tborder-bottom-width:0px;\n\tborder-left-width:0px;\n\tborder-right-width:0px;\n\tborder-top-width:0px;\n\tpadding-bottom:6px;\n\tpadding-right:0px;\n\tpadding-top:6px;\n\tvertical-align:bottom;\n}\ntd._1_Table_03_Table_Blank-Cell {\n\tborder-bottom-width:0px;\n\tborder-left-width:0px;\n\tborder-right-width:0px;\n\tborder-top-width:0px;\n\tvertical-align:top;\n}\ntd._1_Table_04_Table_Particulars {\n\tborder-bottom-color:#666666;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:2px;\n\tborder-left-width:0px;\n\tborder-right-width:0px;\n\tborder-top-width:0px;\n\tpadding-bottom:4px;\n\tpadding-left:0px;\n\tpadding-right:0px;\n\tpadding-top:4px;\n\tvertical-align:bottom;\n}\ntd._1_Table_06_Table_Thickline_Black {\n\tborder-bottom-color:#666666;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:2px;\n\tborder-right-width:0px;\n\tborder-top-width:0px;\n\tpadding-bottom:4px;\n\tpadding-left:0px;\n\tpadding-right:0px;\n\tpadding-top:4px;\n\tvertical-align:bottom;\n}\ntd._1_Table_07_Table_Thickline_colour {\n\tborder-bottom-color:#005dac;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:2px;\n\tborder-top-width:0px;\n\tpadding-bottom:4px;\n\tpadding-left:0px;\n\tpadding-right:0px;\n\tpadding-top:4px;\n\tvertical-align:bottom;\n}\ntd._1_Table_08_Table_Thinline_0-5 {\n\tborder-bottom-color:#000000;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:1px;\n\tborder-left-width:0px;\n\tborder-right-width:0px;\n\tborder-top-width:0px;\n\tpadding-left:0px;\n\tpadding-right:0px;\n\tvertical-align:bottom;\n}\ntd._1_Table_11_Table_Text-White-Cell_Plain {\n\tborder-bottom-color:#808285;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:1px;\n\tborder-left-width:0px;\n\tborder-right-width:0px;\n\tborder-top-color:#808285;\n\tborder-top-style:solid;\n\tborder-top-width:1px;\n\tpadding-bottom:4px;\n\tpadding-left:0px;\n\tpadding-right:0px;\n\tpadding-top:4px;\n\tvertical-align:bottom;\n}\ntd._1_Table_11_Table_Text-White-Cell_Plain-For-Web {\n\tborder-bottom-style:solid;\n\tborder-bottom-width:0px;\n\tborder-left-width:0px;\n\tborder-right-width:0px;\n\tborder-top-style:solid;\n\tborder-top-width:0px;\n\tpadding-bottom:4px;\n\tpadding-left:0px;\n\tpadding-right:0px;\n\tpadding-top:4px;\n\tvertical-align:top;\n}\ntd._1_Table_12_Table_Text-White-Cell_Bold {\n\tborder-bottom-color:#666666;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:1px;\n\tborder-left-width:0px;\n\tborder-right-width:0px;\n\tborder-top-color:#666666;\n\tborder-top-style:solid;\n\tborder-top-width:1px;\n\tpadding-bottom:4px;\n\tpadding-left:0px;\n\tpadding-right:0px;\n\tpadding-top:4px;\n\tvertical-align:bottom;\n}\ntd._1_Table_13_Table_Figure-Color-Cell_Plain {\n\tborder-bottom-color:#669ecd;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:1px;\n\tborder-top-color:#669ecd;\n\tborder-top-style:solid;\n\tborder-top-width:1px;\n\tpadding-bottom:4px;\n\tpadding-left:0px;\n\tpadding-right:0px;\n\tpadding-top:4px;\n\tvertical-align:bottom;\n}\ntd._1_Table_14_Table_Figure-Color-Cell_Bold {\n\tborder-bottom-color:#669ecd;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:1px;\n\tborder-top-color:#669ecd;\n\tborder-top-style:solid;\n\tborder-top-width:1px;\n\tpadding-bottom:4px;\n\tpadding-left:0px;\n\tpadding-right:0px;\n\tpadding-top:4px;\n\tvertical-align:bottom;\n}\ntd._1_Table_15_Table_Figure-White-Cell_Plain {\n\tborder-bottom-color:#808285;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:1px;\n\tborder-left-width:0px;\n\tborder-right-width:0px;\n\tborder-top-color:#808285;\n\tborder-top-style:solid;\n\tborder-top-width:1px;\n\tpadding-bottom:4px;\n\tpadding-left:0px;\n\tpadding-right:0px;\n\tpadding-top:4px;\n\tvertical-align:bottom;\n}\ntd._1_Table_16_Table_Figure-White-Cell_Bold {\n\tborder-bottom-color:#808285;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:1px;\n\tborder-right-width:0px;\n\tborder-top-color:#808285;\n\tborder-top-style:solid;\n\tborder-top-width:1px;\n\tpadding-bottom:4px;\n\tpadding-left:0px;\n\tpadding-right:0px;\n\tpadding-top:4px;\n\tvertical-align:bottom;\n}\ntd.Blankcel {\n\tborder-bottom-width:0px;\n\tborder-left-width:0px;\n\tborder-right-width:0px;\n\tborder-top-width:0px;\n}\np._3_Chapter_06_Special-Head {\n\t-epub-hyphens:none;\n\tcolor:#808080;\n\tfont-family:\"Poppins Medium\", sans-serif;\n\tfont-size:30px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:500;\n\tline-height:1.133;\n\tmargin-bottom:11px;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:11px;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:left;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\np._3_Chapter_09_Sub_Head {\n\t-epub-hyphens:none;\n\tcolor:#005dac;\n\tfont-family:\"Poppins Medium\", sans-serif;\n\tfont-size:23px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:500;\n\tline-height:1.2;\n\tmargin-bottom:11px;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:11px;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:left;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\np._3_Chapter_10_Sub_Head_01 {\n\t-epub-hyphens:none;\n\tcolor:#000000;\n\tfont-family:Poppins, sans-serif;\n\tfont-size:19px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:bold;\n\tline-height:1.263;\n\tmargin-bottom:5px;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:10px;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:left;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\np._3_Chapter_11_Sub_Head_02 {\n\t-epub-hyphens:none;\n\tcolor:#000000;\n\tfont-family:\"Poppins Medium\", sans-serif;\n\tfont-size:17px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:500;\n\tline-height:1.235;\n\tmargin-bottom:0;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:0;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:left;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\np._3_Chapter_12_Body-Text {\n\t-epub-hyphens:none;\n\tcolor:#000000;\n\tfont-family:\"Poppins Light\", sans-serif;\n\tfont-size:14px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:300;\n\tline-height:1.286;\n\tmargin-bottom:6px;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:6px;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:left;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\np._3_Chapter_12_Body-Text-NooN {\n\t-epub-hyphens:none;\n\tcolor:#000000;\n\tfont-family:\"Poppins Light\", sans-serif;\n\tfont-size:9px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:300;\n\tline-height:1.2;\n\tmargin-bottom:0;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:0;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:left;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\np._4_Table_16_Rupees_In_Crore {\n\t-epub-hyphens:none;\n\tcolor:#000000;\n\tfont-family:\"Poppins Light\", sans-serif;\n\tfont-size:12px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:300;\n\tline-height:1.333;\n\tmargin-bottom:0;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:0;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:right;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\np._4_Table_17_Table_Particulars {\n\t-epub-hyphens:none;\n\tcolor:#000000;\n\tfont-family:Poppins, sans-serif;\n\tfont-size:14px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:bold;\n\tline-height:1.286;\n\tmargin-bottom:0;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:0;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:left;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\np._4_Table_18_Table_Thickline_Black {\n\t-epub-hyphens:none;\n\tcolor:#000000;\n\tfont-family:Poppins, sans-serif;\n\tfont-size:14px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:bold;\n\tline-height:1.286;\n\tmargin-bottom:0;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:0;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:right;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\np._4_Table_19_Table_Thickline_colour {\n\t-epub-hyphens:none;\n\tcolor:#005dac;\n\tfont-family:Poppins, sans-serif;\n\tfont-size:14px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:bold;\n\tline-height:1.286;\n\tmargin-bottom:0;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:0;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:right;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\np._4_Table_21_Table_Thinline_0-5 {\n\t-epub-hyphens:none;\n\tcolor:#000000;\n\tfont-family:Poppins, sans-serif;\n\tfont-size:14px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:bold;\n\tline-height:1.286;\n\tmargin-bottom:0;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:0;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:center;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\np._4_Table_23_Table_Text_Plain {\n\t-epub-hyphens:none;\n\tcolor:#000000;\n\tfont-family:\"Poppins Light\", sans-serif;\n\tfont-size:14px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:300;\n\tline-height:1.286;\n\tmargin-bottom:0;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:0;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:left;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\np._4_Table_24_Table_Text_Bold {\n\t-epub-hyphens:none;\n\tcolor:#000000;\n\tfont-family:Poppins, sans-serif;\n\tfont-size:14px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:bold;\n\tline-height:1.286;\n\tmargin-bottom:0;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:0;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:left;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\np._4_Table_26_Table_Figure_Plain {\n\t-epub-hyphens:none;\n\tcolor:#000000;\n\tfont-family:\"Poppins Light\", sans-serif;\n\tfont-size:14px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:300;\n\tline-height:1.286;\n\tmargin-bottom:0;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:0;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:right;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\np._4_Table_27_Table_Figure_Bold {\n\t-epub-hyphens:none;\n\tcolor:#000000;\n\tfont-family:Poppins, sans-serif;\n\tfont-size:14px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:bold;\n\tline-height:1.286;\n\tmargin-bottom:0;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:0;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:right;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\np._4_Table_28_Table_Figure_Colour {\n\t-epub-hyphens:none;\n\tcolor:#005dac;\n\tfont-family:\"Poppins Light\", sans-serif;\n\tfont-size:14px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:300;\n\tline-height:1.286;\n\tmargin-bottom:0;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:0;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:right;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\np._4_Table_29_Table_Figure_Bold_Colour {\n\t-epub-hyphens:none;\n\tcolor:#005dac;\n\tfont-family:Poppins, sans-serif;\n\tfont-size:14px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:bold;\n\tline-height:1.286;\n\tmargin-bottom:0;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:0;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:right;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\np._4_Table_30_Table_Footnote {\n\t-epub-hyphens:none;\n\tcolor:#000000;\n\tfont-family:\"Poppins Light\", sans-serif;\n\tfont-size:12px;\n\tfont-style:normal;\n\tfont-variant:normal;\n\tfont-weight:300;\n\tline-height:1.333;\n\tmargin-bottom:3px;\n\tmargin-left:0;\n\tmargin-right:0;\n\tmargin-top:6px;\n\torphans:1;\n\tpage-break-after:auto;\n\tpage-break-before:auto;\n\ttext-align:left;\n\ttext-decoration:none;\n\ttext-indent:0;\n\ttext-transform:none;\n\twidows:1;\n}\nspan.Bold {\n\tfont-family:\"Poppins SemiBold\", sans-serif;\n\tfont-style:normal;\n\tfont-weight:600;\n}\nspan.Colour {\n\tcolor:#005dac;\n}\ntd.CellOverride-1 {\n\tpadding-bottom:4px;\n\tpadding-top:3px;\n}\ntd.CellOverride-2 {\n\tborder-top-color:#005dac;\n\tpadding-bottom:0px;\n\tpadding-top:11px;\n}\ntd.CellOverride-3 {\n\tpadding-top:6px;\n}\ntd.CellOverride-4 {\n\tborder-top-color:#005dac;\n\tpadding-bottom:0px;\n\tpadding-top:0px;\n}\ntd.CellOverride-5 {\n\tborder-bottom-color:#000000;\n\tpadding-bottom:4px;\n\tpadding-top:3px;\n}\ntd.CellOverride-6 {\n\tborder-bottom-color:#000000;\n\tborder-left-color:#000000;\n\tborder-top-color:#000000;\n\tpadding-bottom:4px;\n\tpadding-top:3px;\n}\ntd.CellOverride-7 {\n\tborder-bottom-color:#000000;\n\tborder-top-color:#000000;\n\tpadding-bottom:4px;\n\tpadding-top:3px;\n}\ntd.CellOverride-8 {\n\tborder-bottom-color:#000000;\n\tborder-right-color:#000000;\n\tborder-top-color:#000000;\n\tpadding-bottom:4px;\n\tpadding-top:3px;\n}\ntd.CellOverride-9 {\n\tborder-top-color:#000000;\n\tpadding-bottom:4px;\n\tpadding-top:3px;\n}\ntd.CellOverride-10 {\n\tvertical-align:top;\n}\ntd.CellOverride-11 {\n\tpadding-top:11px;\n}\np.ParaOverride-1 {\n\tmargin-top:28px;\n}\np.ParaOverride-2 {\n\tmargin-bottom:11px;\n}\np.ParaOverride-3 {\n\tmargin-bottom:9px;\n}\np.ParaOverride-4 {\n\tmargin-top:11px;\n}\np.ParaOverride-5 {\n\tmargin-bottom:34px;\n}\np.ParaOverride-6 {\n\tmargin-bottom:0px;\n}\nspan.CharOverride-1 {\n\tcolor:#005dac;\n\tfont-family:\"Poppins ExtraBold\", sans-serif;\n\tfont-size:15px;\n\tfont-style:normal;\n\tfont-weight:800;\n}\ntd._idGenCellOverride-1 {\n\tborder-bottom-color:#666666;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:2px;\n\tborder-top-style:solid;\n\tborder-top-width:0px;\n}\ntd._idGenCellOverride-2 {\n\tborder-bottom-color:#f2f3f3;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:0px;\n\tborder-top-color:#f2f3f3;\n\tborder-top-style:solid;\n\tborder-top-width:0px;\n\tvertical-align:top;\n}\ntd._idGenCellOverride-3 {\n\tborder-bottom-color:#005dac;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:2px;\n\tborder-left-style:solid;\n\tborder-left-width:0px;\n\tborder-right-style:solid;\n\tborder-right-width:0px;\n\tborder-top-color:#808285;\n\tborder-top-style:solid;\n\tborder-top-width:0px;\n}\ntd._idGenCellOverride-4 {\n\tborder-bottom-color:#666666;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:2px;\n\tborder-left-style:solid;\n\tborder-left-width:0px;\n\tborder-top-color:#808285;\n\tborder-top-style:solid;\n\tborder-top-width:0px;\n}\ntd._idGenCellOverride-5 {\n\tborder-right-style:solid;\n\tborder-right-width:0px;\n\tborder-top-color:#666666;\n\tborder-top-style:solid;\n\tborder-top-width:2px;\n}\ntd._idGenCellOverride-6 {\n\tborder-bottom-color:#669ecd;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:1px;\n\tborder-left-style:solid;\n\tborder-left-width:0px;\n\tborder-right-style:solid;\n\tborder-right-width:0px;\n\tborder-top-color:#005dac;\n\tborder-top-style:solid;\n\tborder-top-width:2px;\n}\ntd._idGenCellOverride-7 {\n\tborder-left-style:solid;\n\tborder-left-width:0px;\n\tborder-top-color:#666666;\n\tborder-top-style:solid;\n\tborder-top-width:2px;\n}\ntd._idGenCellOverride-8 {\n\tborder-right-style:solid;\n\tborder-right-width:0px;\n}\ntd._idGenCellOverride-9 {\n\tborder-left-style:solid;\n\tborder-left-width:0px;\n\tborder-right-style:solid;\n\tborder-right-width:0px;\n}\ntd._idGenCellOverride-10 {\n\tborder-left-style:solid;\n\tborder-left-width:0px;\n}\ntd._idGenCellOverride-11 {\n\tborder-bottom-color:#666666;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:1px;\n\tborder-right-style:solid;\n\tborder-right-width:0px;\n}\ntd._idGenCellOverride-12 {\n\tborder-right-style:solid;\n\tborder-right-width:0px;\n\tborder-top-color:#666666;\n\tborder-top-style:solid;\n\tborder-top-width:1px;\n}\ntd._idGenCellOverride-13 {\n\tborder-bottom-color:#808285;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:0px;\n\tborder-top-color:#f2f3f3;\n\tborder-top-style:solid;\n\tborder-top-width:0px;\n\tvertical-align:top;\n}\ntd._idGenCellOverride-14 {\n\tborder-bottom-style:solid;\n\tborder-bottom-width:0px;\n\tborder-top-color:#005dac;\n\tborder-top-style:solid;\n\tborder-top-width:0px;\n}\ntd._idGenCellOverride-15 {\n\tborder-bottom-color:#f2f3f3;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:0px;\n\tborder-top-style:solid;\n\tborder-top-width:0px;\n\tvertical-align:top;\n}\ntd._idGenCellOverride-16 {\n\tborder-bottom-color:#005dac;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:2px;\n\tborder-left-style:solid;\n\tborder-left-width:0px;\n\tborder-right-style:solid;\n\tborder-right-width:0px;\n\tborder-top-style:solid;\n\tborder-top-width:0px;\n}\ntd._idGenCellOverride-17 {\n\tborder-bottom-color:#666666;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:2px;\n\tborder-left-style:solid;\n\tborder-left-width:0px;\n\tborder-top-style:solid;\n\tborder-top-width:0px;\n}\ntd._idGenCellOverride-18 {\n\tborder-bottom-color:#666666;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:1px;\n\tborder-right-style:solid;\n\tborder-right-width:0px;\n\tborder-top-color:#666666;\n\tborder-top-style:solid;\n\tborder-top-width:1px;\n}\ntd._idGenCellOverride-19 {\n\tborder-bottom-color:#e6e6e6;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:0px;\n\tborder-top-color:#f2f3f3;\n\tborder-top-style:solid;\n\tborder-top-width:0px;\n\tvertical-align:top;\n}\ntd._idGenCellOverride-20 {\n\tborder-bottom-color:#e6e6e6;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:0px;\n\tborder-top-color:#e6e6e6;\n\tborder-top-style:solid;\n\tborder-top-width:0px;\n\tvertical-align:top;\n}\ntd._idGenCellOverride-21 {\n\tborder-bottom-color:#f2f3f3;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:0px;\n\tborder-top-color:#e6e6e6;\n\tborder-top-style:solid;\n\tborder-top-width:0px;\n\tvertical-align:top;\n}\ntd._idGenCellOverride-22 {\n\tborder-bottom-style:solid;\n\tborder-bottom-width:0px;\n\tborder-top-style:solid;\n\tborder-top-width:0px;\n\tpadding-bottom:6px;\n\tpadding-top:6px;\n}\ntd._idGenCellOverride-23 {\n\tborder-bottom-style:solid;\n\tborder-bottom-width:0px;\n\tborder-top-style:solid;\n\tborder-top-width:0px;\n}\ntd._idGenCellOverride-24 {\n\tborder-bottom-style:solid;\n\tborder-bottom-width:0px;\n\tborder-right-style:solid;\n\tborder-right-width:0px;\n\tborder-top-style:solid;\n\tborder-top-width:0px;\n\tpadding-bottom:6px;\n\tpadding-top:6px;\n}\ntd._idGenCellOverride-25 {\n\tborder-bottom-color:#000000;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:1px;\n\tborder-top-style:solid;\n\tborder-top-width:0px;\n}\ntd._idGenCellOverride-26 {\n\tborder-bottom-color:#005dac;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:2px;\n\tborder-left-style:solid;\n\tborder-left-width:0px;\n\tborder-right-style:solid;\n\tborder-right-width:0px;\n\tborder-top-color:#000000;\n\tborder-top-style:solid;\n\tborder-top-width:1px;\n}\ntd._idGenCellOverride-27 {\n\tborder-bottom-color:#f2f3f3;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:0px;\n\tborder-top-color:#000000;\n\tborder-top-style:solid;\n\tborder-top-width:1px;\n\tvertical-align:top;\n}\ntd._idGenCellOverride-28 {\n\tborder-bottom-color:#666666;\n\tborder-bottom-style:solid;\n\tborder-bottom-width:2px;\n\tborder-left-style:solid;\n\tborder-left-width:0px;\n\tborder-top-color:#000000;\n\tborder-top-style:solid;\n\tborder-top-width:1px;\n}\ncol._idGenTableRowColumn-1 {\n\twidth:567px;\n}\ncol._idGenTableRowColumn-2 {\n\twidth:12px;\n}\ncol._idGenTableRowColumn-3 {\n\twidth:118px;\n}\ncol._idGenTableRowColumn-4 {\n\twidth:117px;\n}\ntr._idGenTableRowColumn-5 {\n\tmin-height:23px;\n}\ntr._idGenTableRowColumn-6 {\n\theight:28px;\n}\ntr._idGenTableRowColumn-7 {\n\tmin-height:21px;\n}\ncol._idGenTableRowColumn-8 {\n\twidth:566px;\n}\ntr._idGenTableRowColumn-9 {\n\tmin-height:24px;\n}\ntr._idGenTableRowColumn-10 {\n\tmin-height:25px;\n}\ntr._idGenTableRowColumn-11 {\n\theight:13px;\n}\ncol._idGenTableRowColumn-12 {\n\twidth:20px;\n}\ncol._idGenTableRowColumn-13 {\n\twidth:806px;\n}\ntr._idGenTableRowColumn-14 {\n\tmin-height:41px;\n}\ncol._idGenTableRowColumn-15 {\n\twidth:599px;\n}\ncol._idGenTableRowColumn-16 {\n\twidth:106px;\n}\ncol._idGenTableRowColumn-17 {\n\twidth:97px;\n}\ncol._idGenTableRowColumn-18 {\n\twidth:28px;\n}\ncol._idGenTableRowColumn-19 {\n\twidth:749px;\n}\ntr._idGenTableRowColumn-20 {\n\tmin-height:28px;\n}\ncol._idGenTableRowColumn-21 {\n\twidth:507px;\n}\ncol._idGenTableRowColumn-22 {\n\twidth:147px;\n}\ntr._idGenTableRowColumn-23 {\n\tmin-height:30px;\n}\ntr._idGenTableRowColumn-24 {\n\tmin-height:59px;\n}\ncol._idGenTableRowColumn-25 {\n\twidth:797px;\n}\ntr._idGenTableRowColumn-26 {\n\tmin-height:34px;\n}\ntr._idGenTableRowColumn-27 {\n\tmin-height:33px;\n}\ntr._idGenTableRowColumn-28 {\n\tmin-height:95px;\n}\ndiv._idGenObjectStyleOverride-1 {\n\tborder-width:0px;\n}\n\n\t\t<\/style>\n\t<\/head>\n\t<body id=\"Directors-_Report\" lang=\"en-US\">\n\t\t<div id=\"_idContainer000\" class=\"_idGenObjectStyleOverride-1\">\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The directors present their Sixteenth Annual Report and Audited Financial Statements for the year ended 31 March 2023.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Financial Results<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The financial results of the Company are elaborated in the report on<span class=\"Italic\"> <\/span><span class=\"Italic\">Management Discussion and Analysis<\/span><span class=\"Italic\">.<\/span> Given below are the financial highlights:<\/p>\n\t\t\t<table id=\"table001\" class=\"Annual-Report-Main-Table\">\n\t\t\t\t<colgroup>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-1\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-2\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-3\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-2\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-4\" \/>\n\t\t\t\t<\/colgroup>\n\t\t\t\t<tbody>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_04_Table_Particulars _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-1\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_17_Table_Particulars\" lang=\"en-GB\">Sales in numbers<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_07_Table_Thickline_colour _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-3\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_19_Table_Thickline_colour\" lang=\"en-GB\">FY2023<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_06_Table_Thickline_Black _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-4\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_18_Table_Thickline_Black\" lang=\"en-GB\">FY2022<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-6\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-5\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">&#160;<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-6\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-7\" \/>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Two-wheelers<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">3,437,966<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">3,836,856 <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-11\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Commercial vehicles<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">485,018<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">471,577 <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_12_Table_Text-White-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_24_Table_Text_Bold\" lang=\"en-GB\">Total<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_14_Table_Figure-Color-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_29_Table_Figure_Bold_Colour\" lang=\"en-US\">3,922,984<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_16_Table_Figure-White-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_27_Table_Figure_Bold\" lang=\"en-US\">4,308,433 <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-12\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Of which exports<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-13\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">1,821,240<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-13\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">2,506,626 <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t<\/tbody>\n\t\t\t<\/table>\n\t\t\t<table id=\"table002\" class=\"Annual-Report-Main-Table\">\n\t\t\t\t<colgroup>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-8\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-2\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-3\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-2\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-3\" \/>\n\t\t\t\t<\/colgroup>\n\t\t\t\t<tbody>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_02_Table_Rupees_In_Crore _1_Table_11_Table_Text-White-Cell_Plain CellOverride-2 _idGenCellOverride-14\" colspan=\"5\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_16_Rupees_In_Crore\" lang=\"en-US\"> (<span lang=\"en-GB\">\u20b9 <\/span>In Crore) <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-10\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_04_Table_Particulars _1_Table_11_Table_Text-White-Cell_Plain CellOverride-3 _idGenCellOverride-1\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_17_Table_Particulars\" lang=\"en-GB\">Particulars<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-3 _idGenCellOverride-15\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_07_Table_Thickline_colour _1_Table_11_Table_Text-White-Cell_Plain CellOverride-3 _idGenCellOverride-16\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_19_Table_Thickline_colour\" lang=\"en-GB\">FY2023<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-3 _idGenCellOverride-15\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_06_Table_Thickline_Black _1_Table_11_Table_Text-White-Cell_Plain CellOverride-3 _idGenCellOverride-17\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_18_Table_Thickline_Black\" lang=\"en-GB\">FY2022<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-6\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-5\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">&#160;<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-6\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-7\" \/>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Total revenue<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">37,609.02<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">34,353.95 <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-11\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Total expenses<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">30,200.38<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">28,163.90 <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_12_Table_Text-White-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_24_Table_Text_Bold\" lang=\"en-GB\">Profit before exceptional items and tax<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_14_Table_Figure-Color-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_29_Table_Figure_Bold_Colour\" lang=\"en-US\">7,408.64<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_16_Table_Figure-White-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_27_Table_Figure_Bold\" lang=\"en-US\">6,190.05 <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-18\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Exceptional items<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">&#8211;<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">(315.28)<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_12_Table_Text-White-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_24_Table_Text_Bold\" lang=\"en-GB\">Profit before tax<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_14_Table_Figure-Color-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_29_Table_Figure_Bold_Colour\" lang=\"en-US\">7,408.64<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_16_Table_Figure-White-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_27_Table_Figure_Bold\" lang=\"en-US\">6,505.33 <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-18\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Tax expense<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">1,781.04<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">1,486.46 <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_12_Table_Text-White-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_24_Table_Text_Bold\" lang=\"en-GB\">Profit for the year<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_14_Table_Figure-Color-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_29_Table_Figure_Bold_Colour\" lang=\"en-US\">5,627.60<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_16_Table_Figure-White-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_27_Table_Figure_Bold\" lang=\"en-US\">5,018.87 <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_12_Table_Text-White-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_24_Table_Text_Bold\" lang=\"en-GB\">Earnings per share (\u20b9)<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-13\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_14_Table_Figure-Color-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_29_Table_Figure_Bold_Colour\" lang=\"en-US\">197.3<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-13\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_16_Table_Figure-White-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_27_Table_Figure_Bold\" lang=\"en-US\">173.6<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t<\/tbody>\n\t\t\t<\/table>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head ParaOverride-1\" lang=\"en-US\">Closing balances in reserve\/other equity<\/p>\n\t\t\t<table id=\"table003\" class=\"Annual-Report-Main-Table\">\n\t\t\t\t<colgroup>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-8\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-2\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-3\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-2\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-3\" \/>\n\t\t\t\t<\/colgroup>\n\t\t\t\t<tbody>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-11\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_02_Table_Rupees_In_Crore _1_Table_11_Table_Text-White-Cell_Plain CellOverride-4 _idGenCellOverride-14\" colspan=\"5\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_16_Rupees_In_Crore\" lang=\"en-US\"> (\u20b9 In Crore) <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-10\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_04_Table_Particulars _1_Table_11_Table_Text-White-Cell_Plain CellOverride-3 _idGenCellOverride-1\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_17_Table_Particulars\" lang=\"en-GB\">Particulars<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-3 _idGenCellOverride-15\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_07_Table_Thickline_colour _1_Table_11_Table_Text-White-Cell_Plain CellOverride-3 _idGenCellOverride-16\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_19_Table_Thickline_colour\" lang=\"en-GB\">FY2023<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-3 _idGenCellOverride-15\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_06_Table_Thickline_Black _1_Table_11_Table_Text-White-Cell_Plain CellOverride-3 _idGenCellOverride-17\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_18_Table_Thickline_Black\" lang=\"en-GB\">FY2022<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-6\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-5\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">&#160;<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-6\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-7\" \/>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">General reserve<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">6,389.60<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">6,389.60 <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Retained earnings<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">17,821.40<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">19,340.40 <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-5 _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Cash flow hedging reserve<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-5 _idGenCellOverride-19\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-5 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">&#8211;<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-5 _idGenCellOverride-19\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-5 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">54.33<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-6 _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Costs of hedging reserve<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-7 _idGenCellOverride-20\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-7 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">&#8211;<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-7 _idGenCellOverride-20\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-8 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">5.93<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-9 _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">FVTOCI reserve<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-9 _idGenCellOverride-21\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-9 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">927.13<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-9 _idGenCellOverride-21\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-9 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">626.41<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Capital redemption reserve<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">6.41<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">&#8211;<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Share based payments reserve<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">62.09<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">32.27<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-11\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Treasury shares<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">(63.73)<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">(69.51)<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-7\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_12_Table_Text-White-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_24_Table_Text_Bold\" lang=\"en-GB\">Total<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-13\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_14_Table_Figure-Color-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_29_Table_Figure_Bold_Colour\" lang=\"en-US\">25,142.90<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-13\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_16_Table_Figure-White-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain CellOverride-1 _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_27_Table_Figure_Bold\" lang=\"en-US\">26,379.43<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t<\/tbody>\n\t\t\t<\/table>\n\t\t\t<p class=\"_4_Table_30_Table_Footnote\" lang=\"en-GB\"><span class=\"Bold\">Note:<\/span> Detailed movement of above reserves can be seen in \u2018Statement of Changes in Equity\u2019.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Dividend Distribution Policy<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Under the Regulation 43A of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (\u2018the Listing Regulations, 2015\u2019), as amended, the Company has formulated a dividend distribution policy, which sets out the parameters and circumstances that will be taken into account by the Board in determining the distribution of dividend to its shareholders.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">As a green initiative, the amended policy has been uploaded on the Company\u2019s website and can be accessed at <a href=\"https:\/\/www.bajajauto.com\/investors\/policies-codes\"><span class=\"Colour\">https:\/\/www.bajajauto.com\/investors\/policies-codes<\/span><\/a><\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Dividend<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The directors recommend for consideration of shareholders at the ensuing annual general meeting, payment of a dividend of \u20b9 140 per equity share of \u20b9 10 each (1400%) for the year ended 31 March 2023.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">For the year ended 31 March 2022 also, the dividend paid was \u20b9 140 per share of \u20b9 10 each (1400%).<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The dividend recommended is in accordance with the principles and criteria as set out in the dividend distribution policy.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The dividend, if declared, will be taxable in the hands of the shareholders of the Company pursuant to Income Tax Act, 1961. For further details on taxability, please refer to Notice of annual general meeting.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Share Capital and Buyback<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The paid-up equity share capital as on 31 March 2023 was \u20b9 282.96 crore, while as on 31 March 2022, it was \u20b9 289.37 crore. There was no public issue, rights issue, bonus issue or preferential issue etc. during the year. The Company has not issued shares with differential voting rights or sweat equity shares. The reduction in share capital was as a result of buyback of 6,409,662 equity shares made during the year utilising an aggregate amount of \u20b9 2,499.97 crore. As per approval given by the Board, at its meeting held on 27 June 2022, the buyback of the equity shares of the Company was done through open market route through stock exchanges at a price not exceeding \u20b9 4,600 per equity share. The buyback of equity shares commenced on 4 July 2022 and was completed on 10 October 2022.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The details of buyback are available on the website of the Company at <a href=\"https:\/\/www.bajajauto.com\/investors\/share-buyback\"><span class=\"Colour\">https:\/\/www.bajajauto.com\/investors\/share-buyback<\/span><\/a> <\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Operations<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Detailed information on the Company\u2019s operations is in the report on Management Discussion and Analysis.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Capacity Expansion and New Projects<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The Company\u2019s current installed capacity is 6.65 million units per annum.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Detailed information on capacity expansion and new projects is covered in the report on<span class=\"Italic\"> Management Discussion and Analysis.<\/span><\/p>\n\t\t\t<p class=\"_3_Chapter_06_Special-Head\" lang=\"en-US\">Research and Development (R&amp;D) and Technology Absorption<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">FY2023 was a challenging year with many regulatory changes for automotive products to be met under very tight timelines.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">A) Products<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Many new products were launched during the year under review. Pulsar has been consistently upgraded over the years to keep it in sync with changing times. Information on the new products is covered in the report on<span class=\"Italic\"> Management Discussion and Analysis.<\/span><\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">B) Processes<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">R&amp;D has been working on improving its operations in a number of areas as listed below:<\/p>\n\t\t\t<table id=\"table004\" class=\"Annual-Report-Main-Table\">\n\t\t\t\t<colgroup>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-12\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-13\" \/>\n\t\t\t\t<\/colgroup>\n\t\t\t\t<tbody>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-14\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\"><span class=\"Bold\">Manpower: <\/span>R&amp;D has expanded its team size in areas of design, analysis and validation to facilitate the rapidly expanding aspirations of the Company.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-14\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\"><span class=\"Bold\">Facilities:<\/span> R&amp;D continued to enhance its design, computing, prototype manufacturing and validation facilities. A number of new test facilities and prototyping facilities were added.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-14\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\"><span class=\"Bold\">Regulatory requirements:<\/span> R&amp;D had to calibrate and homologate many more variants to meet the new BS6 OBD2 norms. The powertrain and vehicle configurations were adjusted to meet these new norms rapidly. <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t<\/tbody>\n\t\t\t<\/table>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">C) Technology<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">As in the past, new and improved technology has been introduced during the year. Such information is covered in the report on <span class=\"Italic\">Management Discussion and Analysis.<\/span><\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">D) Outgo<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The expenditure on R&amp;D during FY2023 and in the previous year was:<\/p>\n\t\t\t<table id=\"table005\" class=\"Annual-Report-Main-Table\">\n\t\t\t\t<colgroup>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-15\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-2\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-16\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-2\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-17\" \/>\n\t\t\t\t<\/colgroup>\n\t\t\t\t<tbody>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_02_Table_Rupees_In_Crore _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-22\" colspan=\"5\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_16_Rupees_In_Crore\" lang=\"en-US\"> (<span lang=\"en-GB\">\u20b9 <\/span>In Crore) <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_04_Table_Particulars _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-1\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_17_Table_Particulars\" lang=\"en-GB\">Particulars<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-15\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_07_Table_Thickline_colour _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-16\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_19_Table_Thickline_colour\" lang=\"en-GB\">FY2023<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-15\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_06_Table_Thickline_Black _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-17\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_18_Table_Thickline_Black\" lang=\"en-GB\">FY2022<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-6\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-5\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">&#160;<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-6\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-7\" \/>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">i.&#9;Capital (including technical know-how)<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">35.15<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">42.06<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-11\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">ii.&#9;Recurring<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">489.91<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">446.73<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_12_Table_Text-White-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_24_Table_Text_Bold\" lang=\"en-GB\">Total<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_14_Table_Figure-Color-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_29_Table_Figure_Bold_Colour\" lang=\"en-US\">525.06<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_16_Table_Figure-White-Cell_Bold _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_27_Table_Figure_Bold\" lang=\"en-US\">488.79<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-12\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">iii.&#9;Total research and development expenditure as a percentage of sales&#9;<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-13\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">1.48%<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-13\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">1.52%<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t<\/tbody>\n\t\t\t<\/table>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Conservation of Energy<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Company continues its efforts to reduce and optimise the energy consumption at all its manufacturing facilities, including corporate office at Pune.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text ParaOverride-2\" lang=\"en-US\">Significant reduction in energy consumption has been achieved as shown hereunder (key initiatives):<\/p>\n\t\t\t<table id=\"table006\" class=\"Annual-Report-Main-Table\">\n\t\t\t\t<colgroup>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-18\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-12\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-19\" \/>\n\t\t\t\t<\/colgroup>\n\t\t\t\t<tbody>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-20\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain CellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01\" lang=\"en-US\">A)<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain CellOverride-10\" colspan=\"2\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01\" lang=\"en-US\"> Electrical Energy<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-14\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Energy efficiency improved by replacing IE1 Motors by IE4\/IE5 Motors for Slat Conveyor for Assembly Lines, Hot Water Spray Pump, Water Screen Pump.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Use of ED bath voltage optimisation based on surface area of individual SKUs.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Use of VFD and water temperature sensors for optimised running of cooling tower.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-14\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Provision of energy efficient LED luminaries at various designated areas across all our factories for energy conservation.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Improvement in power factor by addition of automatic power factor control system.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Continued use of motion sensors for offices and washroom lights.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-20\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain CellOverride-10 _idGenCellOverride-23\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01\" lang=\"en-US\">B)<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-23\" colspan=\"2\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01\" lang=\"en-US\">Water<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-14\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Rainwater storage pond with capacity 90,000 cubic meter at Waluj plant, 57,000 cubic meter at Pantnagar plant, and 83,500 cubic meter at Chakan plant are available for its use in process. <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Continuous reuse of treated water for processes like painting, cooling towers, etc. in addition to gardening.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Frequent cleaning of water tank ventilation units. <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Continued rainwater harvesting across all plants. <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Use of one touch taps and sensor-based taps for hand wash at various areas across all plants. <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Reverse cascading of water at pre-treatment stages at paint shop.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Change of underground water lines with above ground line for easy identification of leakage, if any.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-20\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain CellOverride-10 _idGenCellOverride-23\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01 ParaOverride-3\" lang=\"en-US\">C)<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-23\" colspan=\"2\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01 ParaOverride-3\" lang=\"en-US\">LPG\/Propane<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Provision of thermo-ceramic coating for oven inner wall in place of GI sheet for Paint Shops.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Installation of IR heaters on pre-treatment line to reduce hot water generator PNG consumption.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Exhaust modulation based on oven heating load.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Automated process Startup and Shutdown System for PTED Line.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Continued use of magnetic resonance in oven PNG supply.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Continued use of low temperature chemical for pre-treatment process at paint shop.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Provision of IR heaters in painting booth flash off zones to reduce ASU burner PNG consumption.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Use of energy efficient burners in canteen in all plants.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-20\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain CellOverride-10 _idGenCellOverride-23\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01 ParaOverride-3\" lang=\"en-US\">D)<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-23\" colspan=\"2\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01 ParaOverride-3\" lang=\"en-US\">Utilisation of Renewable Energy-Key Initiatives<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-14\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Usage of renewable solar power generation: 5MW at Waluj, 1MW at Pantnagar, 3.2MW at Akurdi and 2MW at Chakan; generating 155 lakh units per year renewable energy.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Utilisation of solar water heater in canteen of all plants.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Utilisation of hot water rooftop solar system for residential area for positive resource utilisation.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Use of direct sunlight to illuminate shops by installation of \u2018skylights\u2019 across all plants.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t<\/tbody>\n\t\t\t<\/table>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Impact of Measures Taken<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">As a result of the initiatives taken for conservation of energy and natural resources, the Company has achieved an overall reduction in consumption as given in the table below: <\/p>\n\t\t\t<table id=\"table007\" class=\"Annual-Report-Main-Table\">\n\t\t\t\t<colgroup>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-21\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-2\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-22\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-2\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-22\" \/>\n\t\t\t\t<\/colgroup>\n\t\t\t\t<tbody>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-23\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_02_Table_Rupees_In_Crore _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-22\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_02_Table_Rupees_In_Crore _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-24\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_08_Table_Thinline_0-5 _1_Table_11_Table_Text-White-Cell_Plain CellOverride-11 _idGenCellOverride-25\" colspan=\"3\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_21_Table_Thinline_0-5\" lang=\"en-GB\"><span class=\"Bold\">% Reduction w.r.t. previous year<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_04_Table_Particulars _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-1\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_17_Table_Particulars\" lang=\"en-GB\">Description<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-15\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_07_Table_Thickline_colour _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-26\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_19_Table_Thickline_colour\" lang=\"en-GB\">FY2023<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-27\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_06_Table_Thickline_Black _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-28\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_18_Table_Thickline_Black\" lang=\"en-GB\">FY2022<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-6\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-5\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">&#160;<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-6\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-7\" \/>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Electricity consumption<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\"># 1.19<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">3.95<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Water consumption<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\"># (4.53)<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">3.93<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">LPG\/PNG consumption<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-13\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">4.22<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-13\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">17.84<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t<\/tbody>\n\t\t\t<\/table>\n\t\t\t<p class=\"_4_Table_30_Table_Footnote\" lang=\"en-GB\"># Impact of addition of new facilities and lower production volume of Motorcycles at Waluj.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Investment\/Savings<\/p>\n\t\t\t<table id=\"table008\" class=\"Annual-Report-Main-Table\">\n\t\t\t\t<colgroup>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-21\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-2\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-22\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-2\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-22\" \/>\n\t\t\t\t<\/colgroup>\n\t\t\t\t<tbody>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_02_Table_Rupees_In_Crore _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-22\" colspan=\"5\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_16_Rupees_In_Crore\" lang=\"en-US\">(<span lang=\"en-GB\">\u20b9 <\/span>In Crore)<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_04_Table_Particulars _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-1\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_17_Table_Particulars\" lang=\"en-GB\">Description<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-15\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_07_Table_Thickline_colour _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-16\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_19_Table_Thickline_colour\" lang=\"en-GB\">FY2023<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-15\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_06_Table_Thickline_Black _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-17\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_18_Table_Thickline_Black\" lang=\"en-GB\">FY2022<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-20\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-5\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">&#160;<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-6\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-7\" \/>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Investment for energy conservation activities<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">1.55<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-2\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">1.76<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-8\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Recurring savings achieved through above activities<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-13\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_13_Table_Figure-Color-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-9\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_28_Table_Figure_Colour\" lang=\"en-US\">0.87<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_03_Table_Blank-Cell _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-13\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_15_Table_Figure-White-Cell_Plain _1_Table_11_Table_Text-White-Cell_Plain _idGenCellOverride-10\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_26_Table_Figure_Plain\" lang=\"en-US\">0.91<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t<\/tbody>\n\t\t\t<\/table>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Awards and Accolades<\/p>\n\t\t\t<table id=\"table009\" class=\"Annual-Report-Main-Table\">\n\t\t\t\t<colgroup>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-12\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-13\" \/>\n\t\t\t\t<\/colgroup>\n\t\t\t\t<tbody>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-14\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Upgradation of \u2018Occupational Health and Safety Management Systems\u2019 from OHSAS 18001 to ISO 45001 by all plants of the Company.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Pantnagar plant received \u2018Platinum Award\u2019 in \u2018Green Practices Award Competition\u2019 organised by CII.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Pantnagar plant received \u2018Silver Award\u2019 in \u201810th CII-National Excellence Practice Competition\u2019 organised by CII.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Pantnagar plant won \u2018Northern Region EHS Competition\u2019 organised by CII. <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-14\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Pantnagar plant is awarded \u2018Best Practices in Energy Conservation\u2019 in \u2018Green Practices Award Competition\u2019 organised by CII.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Chakan plant is awarded by CII for excellence in \u2018Energy Management 2022-Energy Efficient Unit\u2019.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-14\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Waluj Rooftop Solar plant won \u2018Excellence in Performance Award-Rooftop Solar\u2019 Award in CII Performance Excellence Awards 2022 for Solar and Wind plants.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Waluj plant won \u2018Energy Efficient Unit\u2019 Award in \u201823rd CII-National Award for Energy Excellence-2022\u2019, organised by CII.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t<\/tbody>\n\t\t\t<\/table>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">International Business<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">FY2023 has been a difficult year for exports. During the year under review, Bajaj Auto sold 1.82 million units versus 2.5 million vehicles in the previous year.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">More detailed information is given in the report on<span class=\"Italic\"> Management Discussion and Analysis.<\/span><\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Foreign Exchange Earnings and Outgo<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The Company continued to be a net foreign exchange earner during the year.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Total foreign exchange earned by the Company during the year under review was \u20b9 14,461.47 crore, as compared to \u20b9 16,280.38 crore during the previous year.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Total foreign exchange outflow during the year under review was \u20b9 1,138.68 crore, as against \u20b9 902.08 crore during the previous year.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Industrial Relations<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Bajaj Auto\u2019s approach to its human resources is premised on the fundamental belief in fostering meritocracy in the organisation, which promotes diversity and offers equal opportunities to all employees. We believe in respecting human rights and actively developing people who will contribute to society by nurturing them and giving them opportunities to apply their skills.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">In the financial year 2022-23, the Company continued to deliver on its commitment to excellence. Passing successive milestones, business excellence has been further strengthened by well-defined goals and employee engagement strategies. The overall employee relations with staff and workmen across all the plants viz. Akurdi, Waluj, Chakan and Pantnagar continued to be cordial during the year.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">A core component of infusing joy at the workplace is to layer-in non-work activities that get people excited and encourage involvement. The Company has focused on \u2018Yutori\u2019 concept means \u2018Joy at Workplace\u2019. Below are three areas under Yutori, for fostering a more positive and fulfilling professional experience.<\/p>\n\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01\" lang=\"en-US\">1.  Body-Physical Happiness<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Various initiatives were carried out to sustain and improve physical fitness. Some of them are workplace improvement in terms of ergonomics, work environment improvement, health improvement with medical check-up followed by consultation and physical fitness programs.<\/p>\n\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01\" lang=\"en-US\">2.  Mind-Mental Happiness<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">To improve mental happiness, we focused on education and training, stress-free operations, healthy communication and interpersonal relationships, rewards and recognition as well as personal and professional growth. <\/p>\n\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01\" lang=\"en-US\">3.  Soul-Spiritual Wellbeing<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Various initiatives were taken for spiritual well-being like yoga and meditation sessions, women\u2019s day celebration, people involvement and participation through kaizen competition, trust building through family care and trekking activities and collaborative culture development.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">With the active participation and involvement of all employees, we have been able to inculcate a TPM culture for excellence and continuous improvements across all plants. As a result, the plants have received numerous awards during the year from CII, IIIE, QCFI, Aditya Birla Group etc. Waluj plant has won two gold medals at the national level in the QCFI competition; both teams are qualified for international competition.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The Company has been developing and retaining a gender-diverse talent pool of motivated employees. The Company has taken active steps for engaging women\u2019s talent, contributing to improving women\u2019s workforce participation in the economy.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">With continuous improvement activities through various committees, relations with workers and unions have improved and all wage settlements are taking place in time and without any trouble. The Company signed a long-term settlement with the union for a period of 3.5 years on 1 January 2023 at the Chakan plant.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Prioritising employees\u2019 health, various state-of-the-art sports and health facilities have been provided to the employees. Employees have bagged prizes in multiple sports events like weightlifting, swimming organised by Industrial Sports Association (ISA), Pune. Employees of Waluj plant won 8 gold medals, 5 silver medals and 6 bronze medals at 42nd National Athletics Championship.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">With a view to serving the community, the employees were also involved in Company organised charitable events. These include donation drives, stalls for NGOs, blood donation camps, tree plantations etc.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The Company will continue its efforts for building and sustaining a high sense of belongingness and high-performance culture at the workplace.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Subsidiaries and Joint Ventures<\/p>\n\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01\" lang=\"en-US\">PT. Bajaj Auto Indonesia (PT BAI)<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Routine business operations of PT BAI, a 99.25% subsidiary of Bajaj Auto Ltd., remain discontinued.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Indonesia is a large two-wheelers market and hence of interest for PT BAI.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">PT BAI would continue to study the evolving market and evaluate different possible opportunities.<\/p>\n\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01\" lang=\"en-US\">Bajaj Auto International Holdings BV, Netherlands (BAIH BV)<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">BAIH BV is a 100% Netherlands based subsidiary of Bajaj Auto Ltd. Over the years from 2007 to 2013, through this subsidiary, Bajaj Auto Ltd. has invested a total of \u20ac198.1 million (\u20b91,219 crore) and holds 49.9% stake in Pierer Bajaj AG (PBAG). 50.1% in PBAG is held by Pierer Group.<\/p>\n\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01\" lang=\"en-US\">Bajaj Auto (Thailand) Ltd.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Bajaj Auto (Thailand) Ltd. was incorporated as a wholly owned subsidiary in Thailand with an issued and subscribed share capital of Thai Baht (THB) 45 million (\u20b9 10 crore). An Engineering Design Centre (EDC) is set up under this subsidiary.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Bajaj Auto (Thailand) Ltd. has all necessary approvals from local authorities. The EDC is operational and international designers are working from this new facility in Bangkok.<\/p>\n\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01\" lang=\"en-US\">Bajaj Auto Spain S.L.U.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Bajaj Auto Spain S.L.U. was incorporated as a wholly owned subsidiary in Barcelona, Spain with an issued and subscribed share capital of \u20ac600K (\u20b9 5 crore), the intent being to set up an Engineering Design Centre (EDC).<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The EDC has just started operations with the facility being set-up and is expected to be fully operational in the coming year. <\/p>\n\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01\" lang=\"en-US\">Chetak Technology Ltd. (CTL)<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Given the stakes and likely impact of EVs on its business, Bajaj Auto Ltd. wants to be ahead of this curve. For effectively engaging in this domain, CTL was incorporated as a wholly owned subsidiary of the Company on 4 October 2021 with an issued and subscribed share capital of \u20b9 5 crore to develop new technologies and products, have dedicated manufacturing, sales, after-sales and offer customer centric experiences.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">During the year under review, additional capital of \u20b9 465 crore has been infused in CTL by way of rights issue. Plans have also been drawn to set up a new state-of-the-art manufacturing facility at Akurdi.<\/p>\n\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01\" lang=\"en-US\">Bajaj Auto Consumer Finance Ltd. (BACFL)<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Financing is key to every automobile business. To increase geographic coverage and expand financing options for the retail customers of Bajaj Auto Ltd. and Chetak Technology Ltd., a wholly owned captive financing company i.e. BACFL was formed on 6 December 2021 with an issued and subscribed share capital of \u20b9 5 crore. During the year under review, additional capital of \u20b9 25 crore has been infused in BACFL by way of rights issue.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">An application for registration of BACFL as NBFC has been made to RBI and the matter is under process.<\/p>\n\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01\" lang=\"en-US\">Bajaj Do Brasil Comercio De Motocicletas Ltda<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Brazil is an important market for motorcycles in Latin America. To address this, Bajaj Auto Ltd. has set up a wholly owned subsidiary on 31 March 2022 with a paid up equity share capital of BRL 30 million  (\u20b9 48 crore). The subsidiary has just started operations after obtaining all necessary approvals. Full scale operations are likely to commence in the coming year.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">More detailed information is given in the report on <span class=\"Italic\">Management Discussion and Analysis.<\/span><\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The financial statements of the subsidiary companies are also available on the Company\u2019s website on <a href=\"https:\/\/www.bajajauto.com\/investors\/financial-and-operational-performance\"><span class=\"Colour\">https:\/\/www.bajajauto.com\/investors\/financial-and-operational-performance<\/span><\/a><span class=\"Colour\"> <\/span><\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The Company does not have any associate company, nor has it entered into a joint venture with any other company.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The Company\u2019s policy for determination of material subsidiary, as adopted by the Board of Directors, in conformity with regulation 16 of the Listing Regulations, 2015, can be accessed on the Company\u2019s website at <a href=\"https:\/\/www.bajajauto.com\/investors\/policies-codes\"><span class=\"Colour\">https:\/\/www.bajajauto.com\/investors\/policies-codes<\/span><\/a><\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Anti-Corruption Initiatives<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The Company has established several policies to prevent corruption within Bajaj Auto Ltd. These are suitably integrated with the business operations. The Company also has adequate disclosure practices with regard to anti-corruption activities. Some of these practices are given below:<\/p>\n\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01\" lang=\"en-US\">Signing of the Anti-Corruption Initiative of World Economic Forum (WEF)<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">In support of the initiative taken by WEF, the Company is a signatory to the \u2018Commitment to Anti-Corruption\u2019 and is supporting the \u2018Partnering Against Corruption-Principles for Countering Bribery\u2019 derived from Transparency International\u2019s Business Principles. This calls for a commitment to two fundamental actions, viz. a zero-tolerance policy towards bribery and the development of a practical and effective implementation programme.<\/p>\n\t\t\t<p class=\"_3_Chapter_10_Sub_Head_01\" lang=\"en-US\">Adoption of the Confederation of Indian Industry (CII) Charters<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Your Company, being a member of CII, has adopted the following Codes\/Charters:<\/p>\n\t\t\t<table id=\"table010\" class=\"Annual-Report-Main-Table\">\n\t\t\t\t<colgroup>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-12\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-13\" \/>\n\t\t\t\t<\/colgroup>\n\t\t\t\t<tbody>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">1.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">CII Code of Conduct for Affirmative Action.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">2.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Model Code of Conduct for Ethical Business practices.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">3.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Charters of Fair and Responsible Workplace Guidelines for Collaborative Employee Relations.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">4.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_4_Table_23_Table_Text_Plain\" lang=\"en-GB\">Charters on Fair and Responsible Workplace Guidelines for Contract Labour.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t<\/tbody>\n\t\t\t<\/table>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text ParaOverride-4\" lang=\"en-US\">More details on the subject are given in the <span class=\"Italic\">Business Responsibility and Sustainability Report<\/span> hosted on the Company\u2019s website on <a href=\"https:\/\/www.bajajauto.com\/investors\/financial-and-operational-performance\"><span class=\"Colour\">https:\/\/www.bajajauto.com\/investors\/financial-and-operational-performance<\/span><\/a> <\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Annual Return &#9;<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">A copy of the annual return as provided under sub-section (3) of section 92 of the Companies Act, 2013 (\u2018the Act\u2019), in the prescribed form, which will be filed with Registrar of Companies\/MCA, is hosted on the Company\u2019s website and can be accessed at <a href=\"https:\/\/www.bajajauto.com\/investors\/financial-and-operational-performance\"><span class=\"Colour\">https:\/\/www.bajajauto.com\/investors\/financial-and-operational-performance<\/span><\/a> <\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Number of Meetings of the Board<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">There were seven meetings of the Board held during the year. Detailed information is given in the <span class=\"Italic\">Corporate Governance Report.<\/span><\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Directors\u2019 Responsibility Statement<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">As required under clause (c) of sub-section (3) of section 134 of the Act, directors, to the best of their knowledge and belief, state that:<\/p>\n\t\t\t<table id=\"table011\" class=\"Annual-Report-Main-Table\">\n\t\t\t\t<colgroup>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-12\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-13\" \/>\n\t\t\t\t<\/colgroup>\n\t\t\t\t<tbody>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-14\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-24\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">they have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent, so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit and loss of the Company for the year ended 31 March 2023;<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-24\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">they have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-9\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">they have overseen that the annual accounts have been prepared on a going concern basis;<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-24\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">they have laid down internal financial controls to be followed by the Company and that, to the best of their knowledge, examination and analysis, such internal financial controls have been adequate and were operating effectively; and<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-24\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\"><span class=\"CharOverride-1\">\u2022<\/span><\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table _1_Table_11_Table_Text-White-Cell_Plain-For-Web _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">they have ensured through oversight of the existence of proper systems to ensure compliance with the provisions of all applicable laws and that, to the best of their knowledge, such systems were adequate and were operating effectively.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t<\/tbody>\n\t\t\t<\/table>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Details regarding Frauds reported by Auditors under section 143(12)<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">During the year under review, the auditors i.e. statutory auditors and secretarial auditors have not reported any matter under section 143(12) of the Act, and therefore, no details are required to be disclosed under section 134(3)(ca) of the Act.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Declaration by independent directors<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The independent directors have submitted their declaration of independence, as required under section 149(7) of the Act stating that they meet the criteria of independence as provided in section 149 (6) of the Act, read with regulation 16 and 25 of the Listing Regulations, 2015, as amended. The independent directors have also confirmed compliance with the provisions of section 150 of the Act read with rule 6 of Companies (Appointment and Qualifications of Directors) Rules, 2014, as amended, relating to inclusion of their name in the databank of independent directors.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The Board took on record the declaration and confirmation submitted by the independent directors regarding their meeting the prescribed criteria of independence, after undertaking due assessment of the veracity of the same as required under regulation 25 of the Listing Regulations, 2015.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Directors\u2019 remuneration policy and criteria for matters under section 178<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The salient features and changes to the policy on directors\u2019 appointment and remuneration, including the criteria for determining qualifications, positive attributes, independence of a director and other matters, as required under sub-section (3) of section 178 of the Act form a part of the<span class=\"Italic\"> Corporate Governance Report. <\/span>The policy is on the Company\u2019s website <a href=\"https:\/\/www.bajajauto.com\/investors\/policies-codes\"><span class=\"Colour\">https:\/\/www.bajajauto.com\/investors\/policies-codes<\/span><\/a><\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Particulars of Loans, Guarantees or Investments<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Information regarding loans, guarantees and investments covered under the provisions of section 186 of the Act, are detailed in the financial statements.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Related Party Transactions<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">All contracts\/arrangement\/transactions entered into by the Company during FY2023 with related parties were in compliance with the applicable provisions of the Act and the Listing Regulations, 2015. Prior omnibus approval of the audit committee is obtained for all related party transactions, which are foreseen and of repetitive nature. Pursuant to the said omnibus approval, details of transactions entered into are also reviewed by the audit committee on a quarterly basis.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">All related party transactions entered into during FY2023 were on an arm\u2019s length basis and in the ordinary course of business of the Company under the Act and not material under the Listing Regulations, 2015. However, during the year, prior approval of shareholders was obtained for the material transactions with KTM Sportmotorcycle GmbH (Associate of Bajaj Auto Ltd.\u2019s 100% subsidiary, Bajaj Auto International Holdings BV, based in Netherlands) vide ordinary resolution through postal ballot on 21 November 2022 as it was estimated that the transaction value would cross the applicable materiality thresholds under the amended Listing Regulations, 2015 (i.e. \u20b9 1,000 crore, or 10% of the annual consolidated turnover as per the last audited financial statements of the listed entity, whichever is lower).<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Details of transactions with related parties during FY2023 are provided in the notes to the financial statements. There were no transactions requiring disclosure under section 134(3)(h) of the Act. Hence, the prescribed Form AOC\u20132 does not form a part of this report.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The policy on materiality of and dealing with related party transactions is available on the Company\u2019s website at <a href=\"https:\/\/www.bajajauto.com\/investors\/policies-codes\"><span class=\"Colour\">https:\/\/www.bajajauto.com\/investors\/policies-codes<\/span><\/a><span class=\"Colour\"> <\/span><\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Material Changes and Commitments<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">There have been no material changes and commitments affecting the financial position of the Company, which have occurred between the end of the financial year and the date of this Report.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Risk Management Policy<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Pursuant to regulation 21 of the Listing Regulations, 2015, as amended, risk management policy\/framework was adopted by the Board. This framework,<span class=\"Italic\"> inter alia,<\/span> includes identification of internal and external risks faced by the Company, including financial, operational, sectoral, sustainability, information, cyber security, strategic or any other risk as may be determined by the risk management committee and the measures for risk mitigation, reporting of critical risks within the Company and business continuity plan.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Information on the development and implementation of a risk management policy for the Company is given in the <span class=\"Italic\">Corporate Governance Report.<\/span><\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Corporate Social Responsibility (CSR)<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The CSR policy including the composition of the CSR committee is hosted on the Company\u2019s website <a href=\"https:\/\/www.bajajauto.com\/-\/media\/bajajauto\/Investors\/code-policy\/BAL-Revised-CSR-Policy-29-April-2021.ashx\"><span class=\"Colour\">https:\/\/www.bajajauto.com\/-\/media\/bajajauto\/Investors\/code-policy\/BAL-Revised-CSR-Policy-29-April-2021.ashx<\/span><\/a><span class=\"Colour\"> <\/span><\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Taking into account the commitments made by the Company for the ongoing CSR projects\/programs which are in progress and considering the project mode of CSR activity where the projects can extend beyond the financial year, as also the amount transferred to \u2018Unspent CSR Account\u2019, there is no shortfall in the CSR expenditure mandated to be spent by the Company during the financial year ended 31 March 2023.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">As per provisions of section 135(6) of the Act, any amount remaining unspent under section 135(5) pursuant to any ongoing project shall be transferred by the company within a period of thirty days from the end of the financial year to a special account to be opened by the company. Accordingly, such amount has been transferred by the Company to the specified account within the prescribed period.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Detailed information on CSR policy, its salient features, CSR initiatives undertaken during the year, details pertaining to spent and unspent amount forms part of Annual Report on CSR activities, which is annexed to this Report.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The Chief Financial Officer has certified that the funds disbursed have been utilised for the purpose and in the manner approved by the Board for FY2023.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Formal Annual Evaluation of the Performance of the Board, its committees, chairman and individual directors<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Information on the manner in which a formal annual evaluation has been made by the Board of its own performance and that of its committees, chairman and individual directors is given in the<span class=\"Italic\"> Corporate Governance Report.<\/span><\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Presentation of Financial Statements<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The financial statements of the Company for the year ended 31 March 2023 have been disclosed as per Division Il of Schedule III to the Act.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Indian Accounting Standards, 2015<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The annexed financial statements comply in all material aspects with Indian Accounting Standards  (Ind AS) notified under section 133 of the Act, Companies (Indian Accounting Standards) Rules, 2015 and other relevant provisions of the Act.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Consolidated Financial Statements<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The audited consolidated financial statements incorporating the duly audited financial statements of the subsidiaries, as prepared in compliance with the Act, applicable accounting standards and Listing Regulations, 2015 along with all relevant documents and the Auditors\u2019 Report form a part of this Report.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Internal Audit<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">At the beginning of each financial year, an audit plan is rolled out with approval by the Company\u2019s audit committee. The plan is aimed at evaluation of the efficacy and adequacy of internal control systems and compliance thereof, robustness of internal processes, policies and accounting procedures and compliance with laws and regulations. Based on the reports of internal audit, process owners undertake corrective action in their respective areas. Significant audit observations and corrective actions are periodically presented to the audit committee of the Board.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Statutory Disclosures<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The summary of the key financials of the Company\u2019s subsidiaries (Form AOC-1) is included in this Annual Report. A copy of the audited financial statements for each of the subsidiary companies will be made available to members of the Company, seeking such information at any point of time. The financial statements of the Company and its subsidiaries are placed on the Company\u2019s website at <a href=\"https:\/\/www.bajajauto.com\/investors\/financial-and-operational-performance\"><span class=\"Colour\">https:\/\/www.bajajauto.com\/investors\/financial-and-operational-performance<\/span><\/a> <\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Details as required under the provisions of section 197(12) of the Act, read with rule 5(1) of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, as amended, containing,<span class=\"Italic\"> inter alia,<\/span> ratio of remuneration of directors and KMP to median remuneration of employees and percentage increase in the median remuneration are annexed to this Report.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Details of top ten employees in terms of the remuneration and employees in receipt of remuneration as required under the provisions of section 197(12) of the Act, read with rule 5(2) and 5(3) of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, as amended, which form part of the Directors\u2019 Report, will be made available to any shareholder on request, as per provisions of section 136(1) of the said Act.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The provisions of section 148 of the Act relating to maintenance of cost records and cost audit are not applicable to the Company.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Pursuant to the legislation \u2018The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013\u2019, the Company has a policy on Prevention of Sexual Harassment at Workplace. During the year under review, no complaint has been received from employees. There was no other case reported during the year under review under the said policy.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">There is no change in the nature of business of the Company during FY2023.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The securities of the Company were not suspended from trading during the year on account of corporate actions or otherwise.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">A cash flow statement for 2022-23 is attached to the Balance Sheet.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The Managing Director, as per the terms of his appointment, does not draw any commission or remuneration from subsidiary companies. Hence, no disclosure as required under section 197(14) of the Act has been made.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Details as prescribed under section 134 of the Act and Rules made thereunder, applicable to the Company, have been specifically given in this Report, wherever applicable.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Directors\u2019 and Key Managerial Personnel-Changes <\/p>\n\t\t\t<table id=\"table012\" class=\"Annual-Report-Main-Table\">\n\t\t\t\t<colgroup>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-18\" \/>\n\t\t\t\t\t<col class=\"_idGenTableRowColumn-25\" \/>\n\t\t\t\t<\/colgroup>\n\t\t\t\t<tbody>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-20\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_11_Sub_Head_02\" lang=\"en-US\">I.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_11_Sub_Head_02\" lang=\"en-US\">Changes in Directorate<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-24\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Shekhar Bajaj, Non-executive non-independent director of the Company tendered his resignation with effect from close of business hours on 30 June 2022. The Board places on record its deep appreciation of valuable guidance provided by him during his very long tenure on the Board.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-26\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_11_Sub_Head_02\" lang=\"en-US\">II.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_11_Sub_Head_02\" lang=\"en-US\">Retirement by Rotation<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-14\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Independent directors hold office for a fixed term not exceeding five years from the date of their appointment and are not liable to retire by rotation.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-14\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The Act mandates that at least two\u2013thirds of the total number of directors (excluding independent directors) shall be liable to retire by rotation. <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-24\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Accordingly, Niraj Bajaj (DIN 00028261), Sanjiv Bajaj (DIN 00014615) and Madhur Bajaj  (DIN 00014593), directors, being the longest in the office among the directors liable to retire by rotation, retire from the Board this year and, being eligible, have offered themselves for re\u2013appointment. <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-5\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Brief details of Niraj Bajaj, Sanjiv Bajaj and Madhur Bajaj are given in the notice of annual general meeting.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-27\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_11_Sub_Head_02\" lang=\"en-US\">III.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_11_Sub_Head_02\" lang=\"en-US\"> Appointment\/Re-appointment of Directors<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-28\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Rakesh Sharma (DIN 08262670) was appointed as a Whole-time director of the Company for a period of five years from 1 January 2019 up to 31 December 2023. The Board, on recommendation of nomination and remuneration committee and after evaluating his performance and the valuable contribution made by him in the progress of the Company, has approved his re-appointment for another term of five years commencing from 1 January 2024, subject to approval of shareholders. <\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t\t<tr class=\"Annual-Report-Main-Table _idGenTableRowColumn-14\">\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\" \/>\n\t\t\t\t\t\t<td class=\"Annual-Report-Main-Table Blankcel _1_Table_11_Table_Text-White-Cell_Plain\">\n\t\t\t\t\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Accordingly, resolution seeking his re-appointment for a further term of five years and brief details of Rakesh Sharma are given in the notice of annual general meeting.<\/p>\n\t\t\t\t\t\t<\/td>\n\t\t\t\t\t<\/tr>\n\t\t\t\t<\/tbody>\n\t\t\t<\/table>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">There was no other change in the directors and key managerial personnel during the year under review since the last report.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Detailed information on the directors is provided in the<span class=\"Italic\"> Corporate Governance Report.<\/span><\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Significant and Material Orders passed by the Regulators or Courts<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">During the year under review, there were no significant and material orders passed by the regulators or courts or tribunals, which may impact the going concern status of the Company and its operations in future.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Details of Internal Financial Controls with reference to the Financial Statements<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The Company has documented its internal financial controls considering the essential components of various critical processes, both physical and operational. This includes its design, implementation and maintenance, along with periodic internal review of operational effectiveness and sustenance and whether these are commensurate with the nature of its business and the size and complexity of its operations.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">This ensures orderly and efficient conduct of its business, including adherence to the Company\u2019s policies, safeguarding of its assets, prevention of errors, accuracy and completeness of the accounting records and the timely preparation of reliable financial information.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Internal financial controls with reference to the financial statements were adequate and operating effectively.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Corporate Governance<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Pursuant to the Listing Regulations, 2015, a separate chapter titled \u2018Corporate Governance\u2019 has been included in this Annual Report, along with the reports on<span class=\"Italic\"> Management Discussion and Analysis<\/span> and<span class=\"Italic\"> General Shareholder Information.<\/span><\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">All Board members and senior management personnel have affirmed compliance with the Code of Conduct for FY2023. A declaration to this effect signed by the Managing Director (CEO) of the Company is contained in this Annual Report.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The Managing Director (CEO) and Chief Financial Officer have certified to the Board with regard to the financial statements and other matters as required under regulation 17(8) of the Listing Regulations, 2015.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Certificate from the auditors of the Company regarding compliance of conditions of corporate governance is annexed to this Report.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Employee Stock Option Scheme<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The Company grants share-based benefits to eligible employees with a view to attracting and retaining talent, to encourage employees to align individual performance with the Company objectives and to promote their increased participation in the growth of the Company.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">During the year under review, there has been no change in the Bajaj Auto Employee Stock Option Scheme 2019 (BAL-ESOS 2019) of the Company. BAL-ESOS 2019 is in compliance with SEBI (Share Based Employee Benefits) Regulations, 2014, and this has been certified by the secretarial auditor of the Company.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">In line with regulation 14 of the SEBI (Share Based Employee Benefits) Regulations, 2014, a statement giving complete details, as at 31 March 2023, is available on the website of the Company at <a href=\"https:\/\/www.bajajauto.com\/investors\/financial-and-operational-performance\"><span class=\"Colour\">https:\/\/www.bajajauto.com\/investors\/financial-and-operational-performance<\/span><\/a><span class=\"Colour\"> <\/span><\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Details of options vested, exercised and cancelled are provided in the notes to the standalone financial statements.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Business Responsibility and Sustainability Report <\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Pursuant to amendment in the Listing Regulations, 2015, top 1,000 listed entities based on market capitalisation are required to submit a Business Responsibility and Sustainability Report (\u2018BRSR\u2019) with effect from the FY2023.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Accordingly, a detailed BRSR in the format prescribed by SEBI describing various initiatives, actions and process of the Company in conducting its business in line with its environmental, social and governance obligations has been hosted on Company\u2019s website and can be accessed at <a href=\"https:\/\/www.bajajauto.com\/investors\/financial-and-operational-performance\"><span class=\"Colour\">https:\/\/www.bajajauto.com\/investors\/financial-and-operational-performance<\/span><\/a><span class=\"Colour\"> <\/span><\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">A physical copy of the BRSR will be made available to any shareholder on request.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Secretarial Standards of ICSI<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The Company has complied with the requirements prescribed under the Secretarial Standards on Meetings of the Board of Directors (SS\u20131) and General Meetings (SS\u20132) read with the MCA Circulars granting exemptions in view of the Covid-19 pandemic.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Statutory Auditor<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Pursuant to the provisions of section 139 of the Act, the members at the annual general meeting of the Company held on 26 July 2022 appointed S R B C &amp; CO LLP (Firm Registration No. 324982E\/E300003) as statutory auditors of the Company from the conclusion of 15th annual general meeting till the conclusion of 20th annual general meeting, covering second term of five consecutive years. The statutory auditors have confirmed that they are not disqualified from continuing as auditors of the Company.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">The statutory audit report for the financial year 2022-23 does not contain any qualification, reservation or adverse remark or disclaimer made by statutory auditor.<\/p>\n\t\t\t<p class=\"_3_Chapter_09_Sub_Head\" lang=\"en-US\">Secretarial Auditor<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Pursuant to the provisions of section 204 of the Act and Rules made thereunder, the Company has appointed, Shyamprasad D Limaye, Practising Company Secretary (Membership No.1587, CP No. 572) to undertake the secretarial audit of the Company. Secretarial audit report for the financial year 2022-23 issued by him in the prescribed form MR-3 is annexed to this Report.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">In addition to the above, pursuant to regulation 24A(2) of the Listing Regulations, 2015, a report on secretarial compliance for the financial year ended 31 March 2023 has been issued by Shyamprasad D Limaye and the same will be submitted with the stock exchanges within the given timeframe. The report will be made available on the website of the Company.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">There are no observations, reservations or qualifications or adverse remark in any of the aforesaid reports.<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text ParaOverride-5\" lang=\"en-US\">On behalf of the Board of Directors,<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text ParaOverride-6\" lang=\"en-US\">Niraj Bajaj <\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text ParaOverride-6\" lang=\"en-US\">Chairman<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text ParaOverride-6\" lang=\"en-US\">DIN: 00028261<\/p>\n\t\t\t<p class=\"_3_Chapter_12_Body-Text\" lang=\"en-US\">Pune: 25 April 2023<\/p>\n\t\t<\/div>\n\t<\/body>\n<\/html>\n\n\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-188","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/investors.bajajauto.com\/ar23\/wp-json\/wp\/v2\/pages\/188","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/investors.bajajauto.com\/ar23\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/investors.bajajauto.com\/ar23\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/investors.bajajauto.com\/ar23\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/investors.bajajauto.com\/ar23\/wp-json\/wp\/v2\/comments?post=188"}],"version-history":[{"count":9,"href":"https:\/\/investors.bajajauto.com\/ar23\/wp-json\/wp\/v2\/pages\/188\/revisions"}],"predecessor-version":[{"id":1236,"href":"https:\/\/investors.bajajauto.com\/ar23\/wp-json\/wp\/v2\/pages\/188\/revisions\/1236"}],"wp:attachment":[{"href":"https:\/\/investors.bajajauto.com\/ar23\/wp-json\/wp\/v2\/media?parent=188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}