ambition mica limited

384 Pages·2015·4.12 MB·English

Draft Prospectus
Dated: April 6, 2015
Please read Section 26 of the Companies Act, 2013
100% Fixed Price Issue
AMBITION MICA LIMITED
Our Company was incorporated as “Ambition Mica Private Limited” under the provisions of the Companies Act, 1956 vide Certificate of Incorporation dated March 19,
2010bearing Registration No. 059931 and Corporate Identification Number U2520GJ2010PTC059931 issued by Assistant Registrar of Companies, Gujarat, Dadra and
Nagar Haveli, Ahmedabad. Subsequently our Company was converted into a public limited company vide fresh Certificate of Incorporation dated March 25, 2015 and the
name of our Company was changed to “Ambition Mica Limited”. The Corporate Identity Number of our Company is U25202GJ2010PLC059931. For details of incorporation,
change of name and Registered Office of our Company, please refer to chapter titled “General Information” and ‘Our History and Certain Other Corporate Matters’ beginning
on page 64 and 147 respectively of this Draft Prospectus.
Registered Office: Shop No.10, Ground Floor, Raghav Residency, Opp. Naroda G.E.B., Dehgam road, Naroda, Ahmedabad - 382230 Gujarat, India
Tel. No.: 079 - 65417241; Fax No.: NA
Contact Person: Nisha Jha, Company Secretary and Compliance Officer
Email: [email protected]; Website: www.ambitionmica.com
PROMOTERS OF OUR COMPANY: VELJIBHAI PATEL & GOVINDBHAI PATEL
THE ISSUE
PUBLIC ISSUE OF 10,74,000 EQUITY SHARES OF FACE VALUE OF Rs. 10 EACH (“EQUITY SHARES”) OF AMBITION MICA LIMITED (THE “COMPANY”
OR THE “ISSUER”) FOR CASH AT A PRICE OF Rs. 40 PER EQUITY SHARE, INCLUDING A SHARE PREMIUM OF Rs. 30 PER EQUITY SHARE (THE “ISSUE
PRICE”), AGGREGATING Rs. 429.60 LAKHS (“THE ISSUE”), OF WHICH 54,000 EQUITY SHARES OF FACE VALUE OF Rs. 10 EACH FOR CASH AT A PRICE
OF Rs. 40 PER EQUITY SHARE, AGGREGATING Rs. 21.60 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY THE MARKET MAKER TO THE ISSUE (THE
“MARKET MAKER RESERVATION PORTION”). THE ISSUE LESS MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 10,20,000 EQUITY SHARES OF
FACE VALUE OF Rs. 10 EACH FOR CASH AT A PRICE OF Rs. 40 PER EQUITY SHARE, AGGREGATING Rs. 408 LACS IS HEREINAFTER REFERED TO AS
THE “NET ISSUE”. THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 27.03% AND 25.67% RESPECTIVELY OF THE FULLY DILUTED POST ISSUE PAID UP
EQUITY SHARE CAPITAL OF OUR COMPANY.
THE FACE VALUE OF THE EQUITY SHARES IS RS. 10 EACH AND THE ISSUE PRICE OF RS.40 IS 4 TIMES OF THE FACE VALUE OF THE EQUITY SHARES
All potential investors may participate in the Issue through an Application Supported by Blocked Amount (“ASBA”) process providing details about the bank account
which will be blocked by the Self Certified Syndicate Banks (“SCSBs”) for the same. For details in this regard, specific attention is invited to the chapter titled “Issue
Procedure” beginning on page 270 of this Draft Prospectus. In case of delay, if any in refund, our Company shall pay interest on the application money at the rate of
15% per annum for the period of delay. Qualified Institutional Buyers and Non-Institutional Investors shall compulsorily participate in the Issue through ASBA process.
A copy has been delivered for registration to the Registrar as required under section 26 of the Companies Act, 2013.
THE ISSUE IS BEING MADE IN ACCORDANCE WITH CHAPTER XB OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE
REQUIREMENTS) REGULATIONS, 2009, AS AMENDED FROM TIME TO TIME (“SEBI ICDR REGULATIONS”). For further details please refer the section titled ‘The
Issue’ beginning on page 63 of this Draft Prospectus.
RISKS IN RELATION TO FIRST ISSUE
This being the first public issue of the Issuer, there has been no formal market for our Equity Shares. The face value of the Equity Shares of our Company is Rs.10 and
the Issue price of Rs. 40 per Equity Share is 4 times of the face value. The Issue Price (as determined by our Company in consultation with the Lead Manager as stated
in the chapter titled ‘Basis for Issue Price’ beginning on page 96 of this Draft Prospectus) should not be taken to be indicative of the market price of the Equity Shares
after such Equity Shares are listed. No assurance can be given regarding an active and/or sustained trading in the Equity Shares or regarding the price at which the
Equity Shares will be traded after listing.
GENERAL RISKS
Investments in equity and equity-related securities involve a degree of risk and investors should not invest any funds in this Issue unless they can afford to take the risk
of losing their investment. Investors are advised to read the risk factors carefully before taking an investment decision in this issue. For taking an investment decision,
investors must rely on their own examination of the Company and this Issue, including the risks involved. The Equity Shares offered in the issue have not been
recommended or approved by the Securities and Exchange Board of India (“SEBI”), nor does SEBI guarantee the accuracy or adequacy of the contents of this Draft
Prospectus. Specific attention of the investors is invited to the section titled ‘Risk Factors’ beginning on page 17 of this Draft Prospectus.
ISSUER’S ABSOLUTE RESPONSIBILITY
The Issuer, having made all reasonable inquiries, accepts responsibility for and confirms that this Draft Prospectus contains all information with regard to the Issuer
and this Issue, which is material in the context of this Issue, that the information contained in this Draft Prospectus is true and correct in all material aspects and is not
misleading in any material respect, that the opinions and intentions expressed herein are honestly held and that there are no other facts, the omission of which makes
this Draft Prospectus as a whole or any of such information or the expression of any such opinions or intentions, misleading, in any material respect.
LISTING
The Equity Shares of our Company offered through this Draft Prospectus are proposed to be listed on the SME platform of BSE Limited (‘BSE’). In terms of the Chapter XB
of the SEBI (ICDR) Regulations, 2009, as amended from time to time, we are not required to obtain an in-principal listing approval for the shares being offered in this issue.
However, our Company has received an approval letter dated [•] from BSE for using its name in this offer document for listing of our shares on the SME Platform of
BSE. For the purpose of this Issue, SME Platform of the BSE shall be the Designated Stock Exchange.
LEAD MANAGER TO THE ISSUE REGISTRAR TO THE ISSUE
PANTOMATH CAPITAL ADVISORS PRIVATE LIMITED KARVY COMPUTERSHARE PVT. LTD.
108, Madhava Premises Co-operative Housing Society Limited Plot nos. 17 – 24,
Bandra Kurla Complex Vittal Rao Nagar,
Bandra (East), Mumbai - 400051 Madhapur,
Tel: [phone] Hyderabad – 500081
Fax: [phone] Tel: [phone]
Website: www.pantomathgroup.com Fax: [phone]
Email: [email protected] Email: [email protected]
Investor Grievance Id: [email protected] Website: www.karvycomputershare.com
Contact Person: Mr. Mahavir Lunawat Contact Person: Mr. M Murali Krishna
SEBI Registration No: INM000012110 SEBI Registration Number: INR00000021
ISSUE PROGRAMME
ISSUE OPENS ON: [•] ISSUE CLOSES ON: [•]
Table of Contents
SECTION I – GENERAL .................................................................................................................................... 3
DEFINITION AND ABBREVIATION .............................................................................................................. 3
PRESENTATION OF FINANCIAL, INDUSTRY AND MARKET DATA ............................................................. 13
FORWARD LOOKING STATEMENT ........................................................................................................... 15
SECTION II – RISK FACTORS ......................................................................................................................... 17
SECTION III – INTRODUCTION ..................................................................................................................... 41
SUMMARY OF INDUSTRY ........................................................................................................................ 41
SUMMARY OF BUSINESS ......................................................................................................................... 50
SUMMARY OF FINANCIAL STATEMENTS ................................................................................................. 58
THE ISSUE ................................................................................................................................................ 63
GENERAL INFORMATION ........................................................................................................................ 64
CAPITAL STRUCTURE ............................................................................................................................... 73
OBJECTS OF THE ISSUE ............................................................................................................................ 90
BASIS FOR ISSUE PRICE ........................................................................................................................... 96
STATEMENT OF POSSIBLE TAX BENEFITS ................................................................................................ 99
SECTION IV – ABOUT THE COMPANY ........................................................................................................ 109
OUR INDUSTRY ...................................................................................................................................... 109
OUR BUSINESS ...................................................................................................................................... 122
KEY INDUSTRY REGULATIONS AND POLICIES ........................................................................................ 136
OUR HISTORY AND CERTAIN OTHER CORPORATE MATTERS ................................................................ 147
OUR MANAGEMENT ............................................................................................................................. 150
OUR PROMOTER AND PROMOTER GROUP .......................................................................................... 165
OUR GROUP ENTITIES ........................................................................................................................... 169
RELATED PARTY TRANSACTION ............................................................................................................ 174
DIVIDEND POLICY .................................................................................................................................. 175
SECTION V – FINANCIAL STATEMENTS ..................................................................................................... 176
FINANCIAL STATEMENT AS RESTATED .................................................................................................. 176
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION
.............................................................................................................................................................. 219
FINANCIAL INDEBTEDNESS ................................................................................................................... 230
SECTION VI – LEGAL AND OTHER INFORMATION ..................................................................................... 233
OUTSTANDING LITIGATION AND MATERIAL DEVELOPMENTS ............................................................. 233
GOVERNMENT AND OTHER STAUTORY APPROVALS ............................................................................ 241
OTHER REGULATORY AND STATUTORY DISCLOSURES ......................................................................... 248
SECTION VII – ISSUE INFORMATION ......................................................................................................... 261
TERMS OF THE ISSUE ............................................................................................................................ 261
ISSUE STRUCTURE ................................................................................................................................. 267
ISSUE PROCEDURE ................................................................................................................................ 270
RESTRICTIONS ON FOREIGN OWNERSHIP OF INDIAN SECURITIES ....................................................... 322
SECTION VIII – MAIN PROVISIONS OF ARTICLES OF ASSOCIATION .......................................................... 324
SECTION IX – OTHER INFORMATION ........................................................................................................ 378
MATERIAL CONTRACTS AND DOCUMENTS FOR INSPECTION .............................................................. 378
DECLARATION ....................................................................................................................................... 380
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The Equity Shares have not been and will not be registered under the U.S Securities Act of 1933, as
amended (“U.S. Securities Act”) or any state securities laws in the United States and may not be offered
or sold within the United States or to, or for the account or benefit of, “U.S. Persons” (as defined in
Regulation S), except pursuant to exemption from, or in a transaction not subject to, the registration
requirements of the U.S. Securities laws. Accordingly, the Equity Shares are being offered and sold only
outside the United States in offshore transaction in reliance on Regulation S under the U.S Securities Act
and the applicable laws of the jurisdiction where those offers and sale occur.
The Equity Shares have not been and will not be registered, listed or otherwise qualified in any other
jurisdiction outside India and may not be offered or sold, and application may not be made by persons in
any such jurisdiction, except in compliance with the applicable laws of such jurisdiction.

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SECTION I – GENERAL
DEFINITION AND ABBREVIATION
In this Draft Prospectus, unless the context otherwise requires, the terms and abbreviations stated
hereunder shall have the meanings as assigned therewith.
Company Related Terms
Term Description
Articles or Articles of Association or The Articles of Association of our Company, as amended from
AOA time to time
The auditor of our Company, being M/s. Hitesh Gohel & Co.,
Auditor or Statutory Auditor
Chartered Accountants
Banker to our Company Bank of Baroda and Ahmedabad Mercantile Co-operative Bank
“Board” or “Board of Directors” or The Board of Directors of our Company, as duly constituted from
“our Board” time to time, or committee(s) thereof
Company Secretary and Compliance
Nisha Jha
Officer
Director(s) The Director(s) of our Company, unless otherwise specified
Equity Shares of our Company of face value of Rs. 10 each fully
Equity Shares
paid up
Equity Shareholders Persons holding Equity Shares of our Company
Such entities as are included in the chapter titled ‘Our Group
Group Companies
Entities’ beginning on page number 169 of this Draft Prospectus
Memorandum of Association or The Memorandum of Association of our Company, as amended
Memorandum or MOA from time to time
The Peer Reviewed Auditor of our Company, being M/s. Mistry
Peer Reviewed Auditor
and Shah, Chartered Accountant
Promoters of our company being Mr. Veljibhai Patel and Mr.
“Promoters” or “our Promoters”
Govindbhai Patel
Includes such persons and entities constituting our promoter
group in terms of Regulation 2(zb) of the SEBI (ICDR) Regulations
Promoter Group and a list of which is provided in the chapter titled “Our
Promoter and Promoter Group” beginning on page 165 of this
Draft Prospectus
The Registered office of our Company situated at Shop No.10,
Registered Office Ground Floor, Raghav Residency, Opp. Naroda G.E.B., Dehgam
Road, Naroda, Ahmedabad – 382330
The Registrar of Companies, Gujarat, located at ROC Bhavan,
RoC / Registrar of Companies,
Opp. Rupal Park Society, Behind Ankur Bus Stop, Naranpura,
Gujarat
Ahmedabad- 380013, Gujarat.
Shareholders Shareholders of our Company
“Ambition Mica Ltd”, or “the
Company” ,or “our Company” or Ambition Mica limited, a public limited company incorporated
“we”, “us”, “our”, or “Issuer” or the under the provisions of the Companies Act, 1956
“Issuer Company”

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Issue Related Terms
Term Description
Allocation/ Allocation of The Allocation of Equity Shares of our Company pursuant to Issue of
Equity Shares Equity Shares to the successful Applicants
Issue and allotment of Equity Shares of our Company pursuant to Issue of
Allotment/ Allot/ Allotted
the Equity Shares to the successful Applicants
Successful Applicant(s) to whom Equity Shares of our Company have been
Allottee(s)
allotted
Any prospective investor who makes an application for Equity Shares of
Applicant
our Company in terms of this Draft Prospectus
The amount at which the Applicant makes an application for Equity Shares
Application Amount
of our Company in terms of this Draft Prospectus
The Form in terms of which the prospective investors shall apply for our
Application Form
Equity Shares in the Issue
ASBA/ Application Applications Supported by Blocked Amount (ASBA) means an application
Supported by Blocked for Subscribing to the Issue containing an authorization to block the
Amount. application money in a bank account maintained with SCSB
Account maintained with SCSBs which will be blocked by such SCSBs to the
ASBA Account
extent of the Application Amount
Locations at which ASBA Applications can be uploaded by the SCSBs,
ASBA Application
namely Mumbai, New Delhi, Chennai, Kolkata, Ahmedabad, Bangalore,
Location(s)/ Specified Cities
Hyderabad and Pune.
ASBA Investor/ASBA Any prospective investor(s)/applicants(s) in this Issue who apply(ies)
applicant through the ASBA process
The banks which are clearing members and registered with SEBI as Banker
Banker(s) to the Issue/
to an Issue with whom the Escrow Account will be opened and in this case
Escrow Collection Bank(s).
being ICICI Bank Limited .
The basis on which Equity Shares will be Allotted to the successful
Basis of Allotment Applicants under the Issue and which is described under chapter titled
“Issue Procedure” beginning on page 270 of this Draft Prospectus
Such branch of the SCSBs which coordinate Applications under this Issue
by the ASBA Applicants with the Registrar to the Issue and the Stock
Controlling Branch
Exchanges and a list of which is available at http://www.sebi.gov.in or at
such other website as may be prescribed by SEBI from time to time
The demographic details of the Applicants such as their address, PAN,
Demographic Details
occupation and bank account details
Depositories registered with SEBI under the Securities and Exchange Board
Depositories of India (Depositories and Participants) Regulations, 1996, as amended
from time to time, being NSDL and CDSL
Depository Participant A Depository Participant as defined under the Depositories Act, 1996
Such branches of the SCSBs which shall collect the ASBA Forms from the
Designated Branches ASBA Applicants and a list of which is available at http://www.sebi.gov.in
or at such other website as may be prescribed by SEBI from time to time
The date on which funds are transferred from the Escrow Account or the
Designated Date amount blocked by the SCSBs is transferred from the ASBA Account, as the
case may be, to the Public Issue Account or the Refund Account, as
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Term Description
appropriate, after the Issue is closed, following which the Equity Shares
shall be allotted/transfer to the successful Applicants
Designated Stock Exchange SME Platform of BSE Limited
The Draft Prospectus dated April 6, 2015 issued in accordance with section
Draft Prospectus 26 of the Companies Act, 2013 and filed with the BSE under SEBI (ICDR)
Regulations
NRIs from jurisdictions outside India where it is not unlawful to make an issue
Eligible NRIs or invitation under the Issue and in relation to whom this Draft Prospectus
constitutes an invitation to subscribe to the Equity Shares offered herein
Account(s) opened with the Escrow Collection Bank(s) for the Issue and in
whose favour the Applicants (excluding ASBA Applicants) will issue
Escrow Account(s)
cheques or drafts in respect of the Application Amount when submitting
any Application(s) pursuant to this Issue
Agreement dated April 6, 2015 to be entered into by our Company, the
Registrar to the Issue, the Lead Manager, and the Escrow Collection
Escrow Agreement Bank(s) for collection of the Application Amounts and where applicable,
refunds of the amounts collected to the Applicants (excluding ASBA
Applicants) on the terms and conditions thereof
The General Information Document for investing in public issues prepared
General Information
and issued in accordance with the circular (CIR/CFD/DIL/12/2013) dated
Document
October 23, 2013, notified by SEBI.
The Applicant whose name appears first in the Application Form or
First/ Sole Applicant
Revision Form
Issue/ Issue Size/ Initial Public Issue of 10,74,000 Equity Shares of face value of Rs. 10/- each fully
Public Issue/ Initial Public paid of Ambition Mica Limited for cash at a price of Rs. 40/- per Equity
Offer/ Initial Public Share (including a premium of Rs. 30/- per Equity Share) aggregating Rs.
Offering/ IPO 429.60 lakhs.
The agreement dated April 6, 2015 between our Company and the Lead
Issue Agreement Manager, pursuant to which certain arrangements are agreed to in
relation to the Issue.
Issue Closing date The date on which Issue closes for subscription
Issue Opening Date The date on which Issue opens for subscription
The period between the Issue Opening Date and the Issue Closing Date
Issue Period inclusive of both the days during which prospective Investors may submit
their application
The price at which the Equity Shares are being issued by our Company
Issue Price under this Draft Prospectus being Rs. 40 /- per Equity Share of face value
of Rs. 10 each fully paid
Proceeds from the Issue that will be available to our Company, being Rs.
Issue Proceeds
429.60 Lakhs
Lead Manager to the Issue in this case being Pantomath Capital Advisors
Lead Manager/ LM
Private Limited, SEBI registered Category I Merchant Banker
The Equity Listing Agreement to be signed between our Company and the
Listing Agreement
SME Platform of BSE Limited
Market Making Agreement dated April 6, 2015 between our Company,
Market Making Agreement
Lead Manager and Market Maker.
Page 5 of 383
Term Description
Market Maker appointed by our Company from time to time, in this case
being Choice Equity Broking Private Limited, who has agreed to receive or
Market Maker deliver the specified securities in the market making process for a period
of three years from the date of listing of our Equity Shares or for any other
period as may be notified by SEBI from time to time
The Reserved Portion of 54,000 Equity Shares of face value of Rs. 10 each
Market Maker Reservation
fully paid for cash at a price of Rs. 40 /- per Equity Share aggregating Rs.
Portion
21.6 lakhs for the Market Maker in this Issue
A mutual fund registered with SEBI under the SEBI (Mutual Funds)
Mutual Fund(s)
Regulations, 1996, as amended from time to time
National Investment Fund set up by resolution F. No. 2/3/2005-DD-II
NIF dated November 23, 2005 of Government of India published in the
Gazette of India
The Issue excluding the Market Maker Reservation Portion of 10,20,000
Net Issue Equity Shares of face value of Rs. 10 each fully paid for cash at a price of
Rs. 40 /- per Equity Share aggregating Rs. 408 lakhs by our Company
The Issue Proceeds, less the Issue related expenses, received by the
Net Proceeds
Company.
All Applicants that are not Qualified Institutional Buyers or Retail
Non Institutional Investors Individual Investors and who have applied for Equity Shares for an amount
more than Rs. 2,00,000
A company, partnership, society or other corporate body owned directly
or indirectly to the extent of at least 60% by NRIs, including overseas
OCB/ Overseas Corporate trusts in which not less than 60% of beneficial interest is irrevocably held
Body by NRIs directly or indirectly as defined under the Foreign Exchange
Management (Deposit) Regulations, 2000, as amended from time to time.
OCBs are not allowed to invest in this Issue
Payment through electronic
Payment through NECS, NEFT or Direct Credit, as applicable
transfer of funds
Any individual, sole proprietorship, unincorporated association,
unincorporated organization, body corporate, corporation, company,
Person/ Persons partnership, limited liability company, joint venture, or trust or any other
entity or organization validly constituted and/or incorporated in the
jurisdiction in which it exists and operates, as the context requires
The Prospectus to be filed with RoC containing, inter-alia, the issue size,
Prospectus
the issue opening and closing dates and other information
Account opened with the Banker to the Issue i.e. ICICI Bank under Section
40 of the Companies Act, 2013 to receive monies from the Escrow Account
Public Issue Account
and the SCSBs from the bank accounts of the ASBA Applicants on the
Designated Date
QIBs, as defined under the SEBI ICDR Regulations, including public financial
institutions as specified in Section 4A of the Companies Act, scheduled
Qualified Institutional commercial banks, mutual fund registered with SEBI, FPI other than
Buyers or QIBs Category III FPI registered with SEBI, multilateral and bilateral
development financial institution, venture capital fund registered with
SEBI, foreign venture capital investor registered with SEBI, state industrial
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Term Description
development corporation, insurance company registered with Insurance
Regulatory and Development Authority, provident fund with minimum
corpus of Rs. 2,500 lakhs, pension fund with minimum corpus of Rs. 2,500
lakhs, NIF, insurance funds set up and managed by army, navy or air force
of the Union of India and insurance funds set up and managed by the
Department of Posts, India
Account(s) to which Application monies to be refunded to the Applicants
Refund Account (s) (excluding the ASBA Applicants) shall be transferred from the Public Issue
Account
Bank(s) which is / are clearing member(s) and registered with the SEBI as
Refund Bank(s) / Refund
Bankers to the Issue at which the Refund Accounts will be opened, in this
Banker(s)
case being ICICI Bank
Refund through electronic Refund through NECS, Direct Credit, RTGS, NEFT or the ASBA process, as
transfer of funds applicable
Registrar to the Issue, in this case being Karvy Computershare Private
Registrar /Registrar to the
Limited having registered office at Plot No. 17-24 Vittal Rao Nagar
Issue
Madhapur, Hyderabad 500 081
Individual Applicants, or minors applying through their natural guardians,
Retail Individual Investor including HUFs (applying through their Karta), who apply for an amount
less than or equal to Rs 2,00,000
The form used by the Applicants to modify the quantity of Equity Shares in
Revision Form
any of their Application Forms or any previous Revision Form(s)
Shall mean a Banker to an Issue registered under SEBI (Bankers to an
Issue) Regulations, 1994, as amended from time to time, and which offer
the service of making Application/s Supported by Blocked Amount
SCSB/ Self Certified
including blocking of bank account and a list of which is available on
Syndicate Banker
http://www.sebi.gov.in/sebiweb/home/list/5/33/0/0/Recognised-
Intermediaries or at such other website as may be prescribed by SEBI from
time to time
The SME Platform of BSE for listing of Equity Shares offered under Chapter
SME Platform of BSE XB of the SEBI (ICDR) Regulations which was approved by SEBI as an SME
Exchange on September 27, 2011
Underwriter Pantomath Capital Advisors Private Limited
The agreement dated April 6, 2015 entered into between the Underwriter
Underwriting Agreement
and our Company
(i) Till Application / Issue closing date: All days other than a Saturday,
Sunday or a public holiday;
(ii) Post Application / Issue closing date and till the Listing of Equity
Working Day Shares: All days other than a Sunday or a public holiday, and on which
commercial banks in Gujarat and / or Mumbai are open for business in
accordance with the SEBI circular no. CIR/CFD/DIL/3/2010 dated April
22, 2010

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Technical and Industry Terms
Term Description
CAGR Compound Annual Growth Rate
CEO Chief Executive Officer
CSO Central Statistics Office
DIPP Department of Industrial Policy and Promotion
ESDM Electronic System Design And Manufacturing
EV Electrical Vehicle
FY Financial Year
G-20 The Group of Twenty
GDP Gross Domestic Product
GST Goods and Service Tax
HPL High Pressure Laminates
HSBC Hong Kong and Shanghai Bank
ICICI Industrial Credit and Investment Corporation of India
IEBF India Brand Equity Foundation
IESA India Electronics and Semiconductor Association
ILO International Labour Organisation
IMF International Monetary Fund
INR Indian Rupee
ISO International Organization for Standardization
JV Joint Venture
Mm Millimeter
MOU Memorandum Of Understanding
MW Megawatt
PE Private Equity
PMI Purchasing Manager’s Index
R&D Research and Development
RBI Reserve Bank of India
SED Strategic Engineering Division
SHLCC State High Level Clearance Committee
TALIN Tactical Advanced Land Inertial Navigator
US $ American Dollar
Conventional and General Terms/ Abbreviations
Term Description
A/C Account
AGM Annual General Meeting
AIF Alternative Investments Fund
Accounting Standards as issued by the Institute of Chartered Accountants
AS
of India
A.Y. Assessment Year
BSE BSE Limited
Page 8 of 383
Term Description
CAGR Compounded Annual Growth Rate
CDSL Central Depository Services (India) Limited
CFO Chief Financial Officer
CMD Chairman and Managing Director
CIN Corporate Identification Number
Companies Act, 1956 (without reference to the provisions thereof that
Companies Act have ceased to have effect upon notification of the Notified Sections) and
the Companies Act, 2013.
The Companies Act, 2013, to the extent in force pursuant to the
Companies Act, 2013
notification of the notified sections
NSDL and CDSL; Depositories registered with the SEBI under the
Depositories Securities and Exchange Board of India (Depositories and Participants)
Regulations, 1996, as amended from time to time
Depositories Act The Depositories Act, 1996, as amended from time to time.
DIN Director Identification Number
DP Depository Participant
DP ID Depository Participant’s Identity
Earnings before interest, depreciation, tax, amortization and
EBIDTA
extraordinary items
ECS Electronic Clearing Services
EGM Extraordinary General Meeting
ESIC Employee State Insurance Corporation
ESOP Employee Stock Ownership Plan
ESPS Employee Stock Purchase Scheme
EPS Earnings Per Share
FDI Foreign Direct Investment
FCNR Account Foreign Currency Non Resident Account
Foreign Exchange Management Act 1999, as amended from time to time
FEMA
and the regulations framed there under
FII(s) Foreign Institutional Investors
FIs Financial Institutions
The Foreign Investment Promotion Board, Ministry of Finance,
FIPB
Government of India
FPI(s) Foreign Portfolio Investor
Foreign Venture Capital Investor registered under the Securities and
FVCI Exchange Board of India (Foreign Venture Capital Investor) Regulations,
2000
F.Y./FY Financial Year
GAAP Generally Accepted Accounting Principles
GDP Gross Domestic Product
GIR Number General Index Registry number
GoI/ Government Government of India
HNI High Networth Individual
HUF Hindu Undivided Family
ICDR Regulations/ SEBI SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 as
Page 9 of 383