OUR GROUP COMPANY

As per the SEBI ICDR Regulations, for the purposes of identification of group companies, our Company has
considered (i) companies (other than the subsidiary) with which there were related party transactions, in
accordance with Ind AS 24, as disclosed in the Restated Financial Information, and (ii) companies as considered
material by the Board pursuant to the Materiality Policy.

In relation to (ii) above, according to the Materiality Policy passed by our Board on August 9, 2021, for the
purpose of disclosure in this Prospectus, companies that are a part of the Promoter Group, with which there were
transactions during the last three Financial Years, which individually or in the aggregate, exceed 10% of the total
revenue from operations of the Company for the last three Financial Years shall be considered material to be
disclosed as a group company in this Prospectus.

Accordingly, in terms of the Materiality Policy, our Board has identified Meridian Global Ventures Private
Limited as our Group Company. Details of Meridian Global Ventures Private Limited are set forth below.

Meridian Global Ventures Private Limited (“MGVPL”)
Corporate Information

MGVPL was incorporated as Meridian Apparels Private Limited, as a private limited company under the
Companies Act, 1956 on April 6, 1993. Subsequently, the name was changed to Meridian Global Ventures Private
Limited on January 7, 2019. The CIN of MGVPL is U18101TN1993PTC024764.

Nature of activities

In accordance with the provisions of the objects clause of its memorandum of association, MGVPL is permitted
to carry on the business of manufacturing, dealing, importing, exporting, trading in all types of fabrics, garments,
apparels, dresses, fabric products made by woollen, cotton, leather, synthetic materials and any combination
thereof.

Financial Performance

The financial information derived from the audited financial results of MGVPL for the Financial Years 2021,
2020, and 2019 are set forth below.

Figures in % million, except earnings per share (Basic) and (Diluted) and net asset value

 

Particulars As on March 31,2021 As on March31, 2020 _As on March 31, 2019
Equity share capital 201.33 201.33 201.33
Reserves (excluding revaluation 366.34 286.77 253.60
reserve)

Sales/turnover 680.30 693.11 771.80
Profit/(loss) after tax 79.58 33.16 61.80
Earnings/(loss) per share of face 3.95 1.65 3.07
value 2 10 each (Basic) (2)

Earnings/(loss) per share of face 3.95 1.65 3.07
value 2 10 each (Diluted) ( 2)

Net asset value (per share) (2) 28.20 24,24 22.59

 

Significant notes of auditors

There are no significant notes of the auditors in relation to the aforementioned financial statements.

Details of losses incurred

MGVPL has not made any losses in the Financial Years 2021, 2020 and 2019.

Sick, Winding up/Insolvency proceedings

As on the date of this Prospectus, MGVPL has not been declared sick or defunct within the meaning of the
erstwhile Sick Industrial Companies (Special Provisions) Act, 1985, have not been referred to the Board of

Industrial and Financial Reconstruction or the National Company Law Tribunal, and are not under the corporate
insolvency resolution process in terms of the Insolvency and Bankruptcy Code, 2016.

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