About Arvind Ltd

Arvind Limited is one of India's largest integrated textile and apparel companies with a strong retail presence and a pioneer of denim in India. Arvind has an unmatched portfolio of owned and licensed brands and retail formats. The company's own product brands include Flying Machine, Colt, Ruggers, Excalibur amongst others while its licensed product brands have big global names like Arrow, Gant, Izod, Elle, Cherokee, US Polo Assn. to name a few. It has a joint venture in India with global major like Tommy Hilfiger and GAP. It also has retail brands like Megamart, The Arvind Store, Club America, Next and Debenhams. The company's principal business consists of manufacturing and marketing of Denim Fabric, Shirting Fabric, Shirts, Knitted Fabric and Garments. The company has production facilities at Ahmedabad, Mehsana, Gandhinagar in Gujarat, Pune in Maharashtra and Bangalore in Karnataka. Arvind Ltd was incorporated in the year 1931 as Arvind Mills Ltd by three brothers Kasturbhai, Narottambhai and Chimanbhai. In the year 1934, they established themselves amongst the foremost textile units in the country. They are first company to bring globally accepted fabrics such as Denim, yarn dyed shirting fabrics & wrinkle free gabardines to India in the year 1986. In the year 1987, they started retail outlets for 'Arrow' brand and became the first company to bring international shirt brand 'Arrow' to India. The company joint venture includes their technical and marketing alliance with F M Hammerie Von-Ogensver Waltungs, Austria, the US based Alamac Knit Fabrics & Spinners and Webexi Dict Turt, Switzerland. Arvind Mills in 1985 has diversified into electronics by setting up a plant to manufacture electronic telephone exchanges (EPABX). They also entered into marketing pharmaceutical products and B&W and colour television sets under the name Pyramid. During the year 2001-02, the company increased the number of Spindles and Stitching Machines by 2036 Nos and 38 Nos respectively. In the next year, they further increased the number of Stitching machines by 7 Nos. During the year 2003-04, the company expanded their shirts manufacturing capacity from 2.4 million pieces to 4.8 million pieces per annum. During the same year, their subsidiary company, Arvind Spinning Ltd commenced their operation. In March 2005, the company commenced their operations of producing Jeans Pant in Bangalore with the installed capacity of 4 million Pcs per annum. During the year 2005-06, new Denim collection was launched which was aimed at the Super Premium brands of the USA, Europe, Japan & Korea. The response to this collection was good and they have opened new venues for the Denim division. The company demerged and transferred the Garments Business Division of their 100% subsidiary company, Arvind Brands Ltd and amalgamated Arvind Fashions Ltd, a 100% subsidiary of Arvind Brands Ltd with themselves with effect from April 1, 2006. Also The company has a joint venture company namely Arvind Murjani Brand Pvt Ltd, through which they hold license to sell Tommy Hilfiger brand apparel in India. The operations of Arvind Brands Limited and their subsidiaries were merged with the Company with effect from April 1, 2006. The wholesale branded apparel business of Arvind Fashions Ltd has been sold to VF Arvind Brands Pvt Ltd with effect from August 31, 2006. In March 2008, the company signed an exclusive license agreement with The Philips-Van Heusen Corporation for designing, distribution and retailing of IZOD brand apparels in India. From May 2008, the company's name was changed from Arvind Mills Ltd to Arvind Ltd so as to accurately reflect the multi-faceted nature of the organization. In 2010, The Arvind Store was set up to house the best brands of Arvind under one roof. The store offers the entire range of the company's fabrics and apparel. The store also offers the services of Studio Arvind, the bespoke tailoring unit. On 25 September 2010, Arvind announced its decision to set up a 30 million meters of denim manufacturing plant in Bangladesh with a total investment of $60 million. The plant will be set up in joint venture with Nitol group of Bangladesh. Nitol group will have 20% stake in the joint venture company. In 2011, Arvind brought some of the biggest global fashion brands like Calvin Klein, Tommy Hilfiger, Gap, Ed Hardy, Hanes, Nautica and Elle to India. On 2 November 2011, Arvind announced that it has divested its minority stake of 40% in VF Arvind Brands Private Limited (VFABPL) to VF Mauritius for Rs 257 crore. VFABPL which is engaged in marketing products under the brands Lee and Wrangler was formed in September 2006 with 60:40 shareholding between VF Mauritius and Arvind. Arvind had invested Rs 5.47 crore in the capital of the joint venture company. On 27 September 2012, Arvind's subsidiary Arvind Lifestyle Brands announced the acquisition of the business operations of British fashion retailers Debenhams and Next and American Lifestyle brand Nautica in India from Planet Retail. The acquisition of Debenhams signals the entry of Arvind into the Bridge to Luxury Department Store Segment. Arvind will enter into the fast growing segment of apparel specialty retail through Next stores. The licensing agreement with Nautica will strengthen Arvind's already strong position in high potential sportswear segment. In 2014, Arvind Envisol, a subsidiary of the company, which provides waste water treatment solutions, got a global patent for its Polymeric Film Evaporation Technology (PFET). This revolutionary technology saves 80% energy cost for Envisol's Zero Liquid Discharge water treatment system.During the year 2014, Arvind launched custom clothing brand Creyate. Creyate offers fine, bespoke menswear with a degree of customisation never seen before. In 2015, Arvind partnered with USA-headquartered Invista, the owner of the Lycra fibre brand, to manufacture stretch denim fabric in India. Also during the year, the company launched denim fabric Khadi Denim. Also during the year, Arvind collaborated with the world's largest internet giant and the world's most renowned denim brand to launch wearable denim technology and smart denim jackets. Arvind also launched a 4-in-1 smart shirt in collaboration with Arrow. In 2016, Arvind Fashion Brands tied up with cricket legend Sachin Tendulkar to launch True Blue, a menswear label that embodied the spirit of the global Indian. Also during the year, Arvind launched Nnnow.com, a one-stop shopping destination for trendsetters across the country.On 25 October 2016, Arvind announced its decision to raise about Rs 740 crore by diluting 10% stake in its brand business arm, pegging its enterprise value at Rs 8000 crore. The entire stake will be picked up by Multiples, the Private Equity firm founded by Renuka Ramnath. In 2017, Arvind launched its own Ready-To-Wear brand. On 17 October 2017, Arvind signed a Memorandum of Understanding (MoU) with the Gujarat state government to establish a mega apparel factory in the state. The Rs 300-crore project in Dahegam will produce over 24 million garments once it is fully operational. On 8 November 2017, Arvind Limited, India's largest textile and branded apparel player, announced its decision to demerge its Branded Apparel and Engineering businesses from the parent company. The Branded Apparel business will be demerged into the entity Arvind Fashions Limited. Shareholders of Arvind Limited will be entitled for 1 equity shares of Arvind Fashions Limited for every 5 shares held by them. The Engineering business will be demerged into an entity which will be named Anup Engineering. This business is engaged in the manufacturing of critical process equipment. Shareholders of Arvind Limited will be entitled for 1 equity shares of Anup Engineering Limited for 27 shares held by them. On completion of the process, both the companies will be listed on BSE and NSE. On 21 March 2018, Adient (NYSE: ADNT), the global leader in automotive seating, and Arvind Limited announced the formation of Adient Arvind Automotive Fabrics, a joint venture that will develop, manufacture and sell automotive fabrics in India. Adient Arvind Automotive Fabrics will be based in Ahmedabad, India, where it will manufacture high-end performance fabrics for automotive seating systems at a world-class fabric manufacturing facility. The joint venture will benefit from synergies between Adient and Arvind, each bringing industry-leading technology and design capabilities in their respective fields. Adient will be the majority stakeholder in the new company with a 50.5% stake.

Arvind Ltd Chairman Speech

Dear Shareholders.

VUCA an acronym that captures Volatility. Uncertainty, Complexity and Ambiguity of general situations was introduced by leadership theorists in the 1980s. and was first used by the US Army War College to describe the complex post cold war world, the IT industry has been using the phrase more frequently to describe the pace of change triggered by rapid development and deployment of technology Confluence of multiple forces is making this descriptor quite apt for the world In 2022.

The general socio-political-economic environment for leaders of all spheres has never been so dynamic. Pandemic, geopolitical actions and economic turbulence are simultaneously impacting us which Is causing an unprecedented volatility in the operating environment and testing the mettle of the most astute and visionary leaders

For Indian businesses, the financial year 2021-22 started off on a sombre note as the Delta variant led to colossal loss of lives and livelihoods While the vaccines had started rolling our. the country's civic and healthcare systems struggled to withstand the onslaught of the virulent variant. Many fellow citizens and families lost their loved ones despite heroic efforts by our healthcare workers and civic authorities. Fortunately, as the year progressed, our vaccination programme gained momentum and the deadly strain also subsided. By the time the festive season started, the country's mood and business environment became quite upbeat. Most company results for 03 and 04 surprised us positively.

Globolly as well, the key markets in developed economics remained buoyant as governments rolled out ever larger economic packages to pre-empt any possible slowdown. Supported by historic dose of quantitative easing, rock-bottom interest rates, explicit employment support and generous dole-outs to citizens, consumer demand stayed strong Economies posted growth despite the supply chain challenges that started In 2020 remained so throughout 2021 and beyond.

Economists, policymakers and business leaders increasingly felt that the exuberance was getting irrational and things could start correcting anytime. As we have seen In recent weeks, the economic policy choices that helped the world sail through in the difficult COVID times has resulted In historically high inflation rates. Central banks are faced with the tricky situation of the need to urgently tame down inflation while not pushing economies into a recession. The war in Ukraine has further worsened the socio-economic situation In Europe. China, which was an engine or global economic growth Is stuttering back from a stringent zero COVID policy that kept its citizens locked-in for weeks. Lesser developed and smaller countries have suffered disproportionately as stronger nations cornered vaccines and other resources. Many economies. Including those in our neighbourhood, became further stressed as many projects funded by China started to become unviable.

In comparison, the Indian economy has done well. In hindsight, the relatively smaller policy support that the government injected to address the COVID situation, has resulted In a relatively smaller inflation problem to deal with. The Government's investment in setting up Aadhar and mobility infrastructure is proving to be a structural asset for ensuring transfer of benefits, distribution of vaccines. financial Inclusion and overall digitization. The Indian start-up ecosystem is vibrant and compares respectably with that of the US and China.

We at Arvlnd, have always been strong believers in our ability to bounce back innovate and win, while the world ahead still faces difficult and unpredictable circumstances, we remain optimistic about India being uniquely placed to best weather It all. This belief translates Into continuing, though calibrated. Investments In pursuit of greener technologies, more sustainable and innovative products, and nurturing our prized customer relationships that go back many decades.

In the context shared earlier, your Company also started FY2022 on a weaker note in 01 Gradually the momentum picked up and Q3 and Q4 were some of the best quarters that we had post the demerger of Arvind Fashions and Anup Engineenng. Your Company posted good results despite several headwinds that Impacted key businesses. Most prominent being historically high cotton prices that rose unabated week after week to levels that I personally had never imagined Along with cotton, other dyes and chemicals, and packing materials also became significantly expensive and challenged our textiles businesses like never before. Our key customers supported us with commensurate price Increases that greatly helped manage the situation

FY2022 saw the Advanced Material Division (AMD) crossing the INR 1.000 crore mark. AMD achieved this feat despite severe input cost pressures as prices of key raw materials such as specialty fibers and yams, glass roving, specialty chemicals and variety of resin systems soared through the roof. Also, the ever-increasing container shipping cost, availability and delays posed severe challenges for this largely export oriented business. AMD Is poised to continue delivering robust growth as customers grant larger shares to our products

As you know, your Company is a pioneer In Implementing sustainable practices In textile manufacturing. We have made Investments In proprietary Zero Liquid Discharge, rooftop solar and other solutions. The value of these practices got highlighted when the Ahmedabad High Court initiated action against polluting textile units, and our facilities were acknowledged to be compliant to the environmental norms. Your Company already operates the largest rooftop solar installation in the country. We have signed a MoU for a 47-MW hybrid solar-wind project, which will take the share of sustainable energy to over 2536 of the Company's total

Over the last several quarters, we have consistently kept our focus on reducing our long-term debt as one of our top priorities. Through this financial year as well, we maintained tight management of operations, working capital and capital expenditures which enabled you Company to reduce its long-term debt by INR 415 crores.

As FY2023 progresses ahead, we expect the business environment facing your Company to remain challenging and uncertain. As such, we Intend to continue the operating discipline and financial conservatism that has successfully guided us in recent times. In tandem, we will also ensure that the Company's growth engines such ns Advanced Materials and Garmenting get requisite Investments and sponsorship to realise their full potential.

I thank you for your continuing support and assure you that your Company is well positioned to weather the uncertain environment and seize the opportunities that come our way.

Arvind Ltd Company History

Arvind Limited is one of India's largest integrated textile and apparel companies with a strong retail presence and a pioneer of denim in India. Arvind has an unmatched portfolio of owned and licensed brands and retail formats. The company's own product brands include Flying Machine, Colt, Ruggers, Excalibur amongst others while its licensed product brands have big global names like Arrow, Gant, Izod, Elle, Cherokee, US Polo Assn. to name a few. It has a joint venture in India with global major like Tommy Hilfiger and GAP. It also has retail brands like Megamart, The Arvind Store, Club America, Next and Debenhams. The company's principal business consists of manufacturing and marketing of Denim Fabric, Shirting Fabric, Shirts, Knitted Fabric and Garments. The company has production facilities at Ahmedabad, Mehsana, Gandhinagar in Gujarat, Pune in Maharashtra and Bangalore in Karnataka. Arvind Ltd was incorporated in the year 1931 as Arvind Mills Ltd by three brothers Kasturbhai, Narottambhai and Chimanbhai. In the year 1934, they established themselves amongst the foremost textile units in the country. They are first company to bring globally accepted fabrics such as Denim, yarn dyed shirting fabrics & wrinkle free gabardines to India in the year 1986. In the year 1987, they started retail outlets for 'Arrow' brand and became the first company to bring international shirt brand 'Arrow' to India. The company joint venture includes their technical and marketing alliance with F M Hammerie Von-Ogensver Waltungs, Austria, the US based Alamac Knit Fabrics & Spinners and Webexi Dict Turt, Switzerland. Arvind Mills in 1985 has diversified into electronics by setting up a plant to manufacture electronic telephone exchanges (EPABX). They also entered into marketing pharmaceutical products and B&W and colour television sets under the name Pyramid. During the year 2001-02, the company increased the number of Spindles and Stitching Machines by 2036 Nos and 38 Nos respectively. In the next year, they further increased the number of Stitching machines by 7 Nos. During the year 2003-04, the company expanded their shirts manufacturing capacity from 2.4 million pieces to 4.8 million pieces per annum. During the same year, their subsidiary company, Arvind Spinning Ltd commenced their operation. In March 2005, the company commenced their operations of producing Jeans Pant in Bangalore with the installed capacity of 4 million Pcs per annum. During the year 2005-06, new Denim collection was launched which was aimed at the Super Premium brands of the USA, Europe, Japan & Korea. The response to this collection was good and they have opened new venues for the Denim division. The company demerged and transferred the Garments Business Division of their 100% subsidiary company, Arvind Brands Ltd and amalgamated Arvind Fashions Ltd, a 100% subsidiary of Arvind Brands Ltd with themselves with effect from April 1, 2006. Also The company has a joint venture company namely Arvind Murjani Brand Pvt Ltd, through which they hold license to sell Tommy Hilfiger brand apparel in India. The operations of Arvind Brands Limited and their subsidiaries were merged with the Company with effect from April 1, 2006. The wholesale branded apparel business of Arvind Fashions Ltd has been sold to VF Arvind Brands Pvt Ltd with effect from August 31, 2006. In March 2008, the company signed an exclusive license agreement with The Philips-Van Heusen Corporation for designing, distribution and retailing of IZOD brand apparels in India. From May 2008, the company's name was changed from Arvind Mills Ltd to Arvind Ltd so as to accurately reflect the multi-faceted nature of the organization. In 2010, The Arvind Store was set up to house the best brands of Arvind under one roof. The store offers the entire range of the company's fabrics and apparel. The store also offers the services of Studio Arvind, the bespoke tailoring unit. On 25 September 2010, Arvind announced its decision to set up a 30 million meters of denim manufacturing plant in Bangladesh with a total investment of $60 million. The plant will be set up in joint venture with Nitol group of Bangladesh. Nitol group will have 20% stake in the joint venture company. In 2011, Arvind brought some of the biggest global fashion brands like Calvin Klein, Tommy Hilfiger, Gap, Ed Hardy, Hanes, Nautica and Elle to India. On 2 November 2011, Arvind announced that it has divested its minority stake of 40% in VF Arvind Brands Private Limited (VFABPL) to VF Mauritius for Rs 257 crore. VFABPL which is engaged in marketing products under the brands Lee and Wrangler was formed in September 2006 with 60:40 shareholding between VF Mauritius and Arvind. Arvind had invested Rs 5.47 crore in the capital of the joint venture company. On 27 September 2012, Arvind's subsidiary Arvind Lifestyle Brands announced the acquisition of the business operations of British fashion retailers Debenhams and Next and American Lifestyle brand Nautica in India from Planet Retail. The acquisition of Debenhams signals the entry of Arvind into the Bridge to Luxury Department Store Segment. Arvind will enter into the fast growing segment of apparel specialty retail through Next stores. The licensing agreement with Nautica will strengthen Arvind's already strong position in high potential sportswear segment. In 2014, Arvind Envisol, a subsidiary of the company, which provides waste water treatment solutions, got a global patent for its Polymeric Film Evaporation Technology (PFET). This revolutionary technology saves 80% energy cost for Envisol's Zero Liquid Discharge water treatment system.During the year 2014, Arvind launched custom clothing brand Creyate. Creyate offers fine, bespoke menswear with a degree of customisation never seen before. In 2015, Arvind partnered with USA-headquartered Invista, the owner of the Lycra fibre brand, to manufacture stretch denim fabric in India. Also during the year, the company launched denim fabric Khadi Denim. Also during the year, Arvind collaborated with the world's largest internet giant and the world's most renowned denim brand to launch wearable denim technology and smart denim jackets. Arvind also launched a 4-in-1 smart shirt in collaboration with Arrow. In 2016, Arvind Fashion Brands tied up with cricket legend Sachin Tendulkar to launch True Blue, a menswear label that embodied the spirit of the global Indian. Also during the year, Arvind launched Nnnow.com, a one-stop shopping destination for trendsetters across the country.On 25 October 2016, Arvind announced its decision to raise about Rs 740 crore by diluting 10% stake in its brand business arm, pegging its enterprise value at Rs 8000 crore. The entire stake will be picked up by Multiples, the Private Equity firm founded by Renuka Ramnath. In 2017, Arvind launched its own Ready-To-Wear brand. On 17 October 2017, Arvind signed a Memorandum of Understanding (MoU) with the Gujarat state government to establish a mega apparel factory in the state. The Rs 300-crore project in Dahegam will produce over 24 million garments once it is fully operational. On 8 November 2017, Arvind Limited, India's largest textile and branded apparel player, announced its decision to demerge its Branded Apparel and Engineering businesses from the parent company. The Branded Apparel business will be demerged into the entity Arvind Fashions Limited. Shareholders of Arvind Limited will be entitled for 1 equity shares of Arvind Fashions Limited for every 5 shares held by them. The Engineering business will be demerged into an entity which will be named Anup Engineering. This business is engaged in the manufacturing of critical process equipment. Shareholders of Arvind Limited will be entitled for 1 equity shares of Anup Engineering Limited for 27 shares held by them. On completion of the process, both the companies will be listed on BSE and NSE. On 21 March 2018, Adient (NYSE: ADNT), the global leader in automotive seating, and Arvind Limited announced the formation of Adient Arvind Automotive Fabrics, a joint venture that will develop, manufacture and sell automotive fabrics in India. Adient Arvind Automotive Fabrics will be based in Ahmedabad, India, where it will manufacture high-end performance fabrics for automotive seating systems at a world-class fabric manufacturing facility. The joint venture will benefit from synergies between Adient and Arvind, each bringing industry-leading technology and design capabilities in their respective fields. Adient will be the majority stakeholder in the new company with a 50.5% stake.

Arvind Ltd Directors Reports

Dear Members,

Your Directors are pleased to present the 92^nd Annual Report along with the Audited Financial Statements of the Company for the financial
year ended 31^st March 2023.

Highlights of Financial Results for the year are as under:

(' in Crores)

As expected at the outset, FY2023 saw an uncertain business
environment almost through all the four quarters, and it
continues well into the new financial year.

For Arvind Limited, Q1 started off as the best ever first
quarter since the demerger of Anup Engineering and Arvind
Fashions. Commodity prices that had seemed to be on an ever- increasing trajectory finally started to come down towards the
quarter end. This trend of falling prices of input Raw Materials
and freight costs continued through the year. On the demand
front, expectation has been of a sharp reduction following
the interest rate hikes being administered to fight inflation. In
reality, the actual retail sales in key markets have turned out
to be better than expected quarter after quarter. As we wrap-
up FY23 and start FY24, the outlook is much less grim in the US and reasonably upbeat in the domestic markets. Europe continues to look challenged, at least in the near term.

Textile businesses delivered a mixed bag of performance.
Volumes in Woven segment stayed strong and steady through-
out, Denim and Garment volumes saw a steady reduction
through the quarters as our key customers deferred their
buying and also reduced the lot/ drop sizes to manage
their inventory more sharply. Price realization peaked in Q2
and then started trending down to reflect the softening raw
material prices.

Advanced Materials businesses - Human Protection,
Industrials and Composites, continued to deliver the promised
growth through the quarters, and closed the full year numbers
at an aggregate of 22% higher revenues. These businesses
also saw a margin expansion in Q4 as the benefits of lower
input costs started to be realized. During the year, capacity
expansion programs got initiated as current ones became
fully utilised. Expanded fabric processing set-up, new line for
non-wovens, additional capacities in garment manufacturing
and investments in composites mold/ dies started to get
implemented in the second half of FY2023, and are expected
to enable continued growth through FY24 and beyond.

During the year, the Company also sold off its subsidiary
company viz. Arvind Internet Limited to Bigfoot Retail
Solutions. Among other smaller businesses, Arvind-Envisol
- our effluent treatment business - had an improved
year as it executed a large project, and also expanded its
components business.

Also during FY23, the Company continued making investments
in expanding its renewable energy capacity, and a 24MW
hybrid solar-wind installation is expected to get commissioned
in Q1 of FY2024. This will help the Company strengthen its
industry leading sustainability credentials, and also reduce the
energy costs.

A more detailed analysis and commentary is available in the
Management Discussion and Analysis section of this report.

The Board of Directors have recommended a dividend of
Rs.3.75/- per equity share and one-time special dividend of
Rs.2/- per equity share, totalling Rs.5.75/- per equity share of
Rs. 10/- each (i.e. 57.5%), for the financial year ended on 31^st
March, 2023. Dividend is subject to approval of members at
the ensuing Annual General Meeting and shall be subject to
deduction of income tax at source. The dividend, if approved
by the members, would involve a cash outflow of about Rs.
150 crores.

In terms of the provisions of Regulation 43A of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015,
the Company has formulated a Dividend Distribution Policy
and the same is available on the Company's Website at

https://www.arvind.com/sites/default/files/field_policy_file/DividendDistributionPolicy.pdf

During the year under review, the Company has not transferred
any amount to reserves.

No Material Changes have taken place from the end of the
financial year till the date of this report.

The authorised share capital of the Company as on 31^st
March 2023 was Rs.674.50 crores divided into 57.45 crores
equity shares of Rs.10 each and 1 crore preference shares of
Rs.100 each.

During the year under review the Company has allotted
9,11,655 Equity Shares of Rs.10 each to the eligible employees
pursuant to the exercise of stock options granted in terms
of the Employees Stock Option Scheme 2008 (ESOS) of the
Company. Consequently, the paid up Equity Share Capital of the
Company stood at 261.50 crores consisting of 26,14,97,474
equity shares of Rs.10 each.

During the year under review, the Company has not issued
shares with differential voting rights and sweat equity shares.

The Company has instituted the Employees Stock Option
Scheme (ESOS) to grant equity based incentives to certain
eligible employees and directors of the Company and its
subsidiary companies. There is no material change in ESOS
during the year under review and the scheme is in compliance
with Securities and Exchange Board of India (Share Based
Employee Benefits and Sweat Equity) Regulations, 2021. The
certificate of the Secretarial Auditor regarding implementation
of scheme shall be made available for inspection of members
in electronic mode at Annual General Meeting.

Disclosures in compliance with Section 62 of the Companies
Act, 2013 and Rule 12 of Companies (Share Capital and
Debentures) Rules, 2014 and the Securities and Exchange
Board of India (Share based Employee Benefits) Regulations,
2021 are set out in "Annexure - A'' to this report.

The Company has repaid the instalments of Term Loans
amounting to Rs.287.26 crores during the current year. The
Company has not made any fresh long term borrowings. Long
Term Debt of the Company stands to Rs. 621.73 crores as on
31^st March, 2023.

During the year under review, the Company has not accepted
or renewed any Deposit within the meaning of Section 73 of
the Companies Act, 2013 and the rules made there under.

As on 31^st March 2023, 8.5% - 750 Rated, Listed, Secured,
Redeemable, Non-Convertible Debentures (NCDs) of the face
value of Rs.10,00,000/- each, for cash at par, aggregating
Rs.75 crores were outstanding, issued on private placement
basis and listed on the Wholesale Debt Market Segment of
BSE Limited.

During the year under review, the Company has not issued/
allotted any Non-Convertible Debentures.

Details of Loans, Guarantees and Investments covered under
the provisions of Section 186 of the Companies Act, 2013 are
given in the notes to the Financial Statements.

The Consolidated Financial Statements of the Company are
prepared in accordance with relevant Indian Accounting
Standards issued by the Institute of Chartered Accountants of
India and form part of this Annual Report.

Arvind Limited, through its CSR policy aims to work for social,
economic, educational, infrastructural, environmental, health,
inner wellbeing and cultural advancement of the people and
thereby positively impact their quality of life. Our CSR programs
are in the realm of education, rural transformation, livelihood
promotion, art and heritage, women empowerment and
inner wellbeing. The projects and programs are in accordance
to the thematic areas as defined in Schedule VII of the
Companies Act, 2013. The development initiatives are being carried out by company promoted organizations -

Strategic Help Alliance for Relief to Distressed Areas (SHARDA) Trust,
Narottam Lalbhai Rural Development Fund (NLRDF) and Arvind
Foundation (AF) and other partner Civil Society Organizations.

The organizations have formed synergistic partnerships to
enhance the quality of deliverables and increase the reach of
the programs.

The Company has defined five broader themes to bring
larger focus in our CSR initiatives. However, the Company
has supported initiatives under five broader themes to
bring larger focus in our CSR initiatives. The broad thematic
areas are Educational Advancement, Rural Advancement,
Environmental Advancement, Health Advancement and
Cultural Advancement. All our initiatives broadly fall under
the given themes without limiting the purpose, scope and
flexibility of CSR initiatives.

During 2022-23, the Company supported the ongoing
programmes of Rural Initiative brief - Rural Advancement,
Educational Advancement, Digital Literacy, Environmental
Advancement, Inner Wellbeing and a Project for Setting up
Indigo Art Museum.

The specific programs undertaken during the year and a brief
is given in following paragraphs:

Under the broad theme of Rural Advancement, the Arvind
Rural Transformation Initiative (ARTI) is a combination of long
term integrated programs focused in defined geographies.
In Gujarat, geographically, the different projects are being
implemented at Kalol in Gandhinagar, Sanand & Dholka
in Ahmedabad, Dhasa in Botad, Saurastra, Garudeshwar in
Aspirational district of Narmada and planned initiatives at
Kheda district. Altogether, Rural Development programmes
are being implemented in 39 Villages. In addition, the Rural
Development initiatives are also planned at Karnataka
and Jharkhand.

The broad focus of the rural development initiatives are
on Education, Earning, Environment and Inner Wellbeing.
Initiatives of Health & Nutrition are also undertaken as per the
need and demand from the community.

A digital literacy programme as part of our education
program in rural areas is being offered in partnership with HP
Foundation. 3 HP CLAP Vans with 120 Laptops each move
in village schools and villages to impart computer literacy
programme to students and women. About 5700 students
have taken advantage of the programme. Our old partnership
with HP had also has a HP WOW Bus that has a classroom. This
has been stationed at villages near Statue of Unity, Narmada.
Over 500 students have taken advantage of this. The combined
strength of students have shown their willingness to join the
Supplementary Education Programme Gyanda which we will
start during 2023-24 for the rural students. Over 1200 of these
students were also taken to a visit of science city

The Environment project has major plantation drive. Close to
30,000 plants were planted in broadly three mode - plantation
at individual homes, plantation in schools & crematorium
and plantation at block and taluka level at large plots. Over
4000 students participated in planting the trees in their
school campuses under our school greening programme.
Environment clubs are also set up in schools where we are
active.

To support and increase earning of farmers in villages we
operate, a Credit support program for Animal loan was
launched last year with partnership with Shree Mahila SEWA
Bank. Around 80 new loans for buffalo were given and dairy
linkages strengthened. This has given immediate rise in family
income.

Our interaction with the communities lead to the realisation
that attending to health issues many a time get neglected or
postponed as it doesn't seem to be posing any immediate
challenge. To attend to this, we have launched health camps
in villages we operate. A total of 23 Community Eye Check-up
Camps, Community Health Camps and School Dental Health
Camps were organised in partnerships with Government
Hospitals and Specialised Trust run Hospitals. These were
attended by close to 3500 people. The eye camp received the
highest attendance and over 2000 specs were distributed and
66 cataract surgeries were performed.

We had reported earlier that as part of our rural advancement
programme, the Homestay Project near famous Statue of Unity
in Kevadia in Aspirational district Narmada was undertaken. A
total of 37 rooms were created and income to the families had
started. We conducted a rapid assessment of the project that
suggested certain changes and showed us the potential. We
have identified 11 new homes and started the work in 4 more
homes. The idea is to create a Homestay Cluster supported by
Arvind Foundation.

In addition to the digital education programme, our
Supplementary Education Programme Gyanda in the urban
areas with municipal school students is slowly but surely back
to its core after badly getting affected due to Covid. We have
around 850 students now and have started a new centre
which will add to the numbers. In addition, few more centres
are planned to open in urban areas. There is a demand from
our students of digital education programme in rural areas to
be part of Supplementary education programme which we will
start during 2023-24 in a blended online and offline mode.

To support this expansion, we are integrating technology.
During the year, in addition to our partnership with HP
Foundation, we had two technology partnerships with Open
Link Foundation and Tag Hive Foundation.

Open Links Foundation (OLF) was started by an alumni of IIT
Delhi and IIM Ahmedabad in 2017. OLF considers Teachers as
the most important link to implement any change program
and it provides IT enabled program, tools and community for
teacher support and teacher recognition by reducing their
burden and motivating them to deliver quality education.

The tool also has a Wikipedia kind of open source platform
for teachers to find right teaching resources and instruction
methods like lesson plans, activities, worksheets and videos
etc. The material that SHARDA Trust has developed has been
uploaded on this platform which can now be accessed from
anywhere by our teachers. This will help us a great deal as we
plan our rural journey.

Tag Hive Inc. is a Samsung funded education Technology
Company started by an IIT & Harvard alumni. TagHive has a
solution called Class Saathi, which is a clicker based smart
classroom solution that makes formative assessments
seamless and data-driven. Teachers can use the Class Saathi
app to evaluate student's proficiency in various concepts
taught in class. After the session, the students are given
multiple choice questions to assess their understanding of
what was taught in the class. The students click their answers
on a clicker device and their answers immediately give the
teacher an idea about students' understanding with data. The
data is recorded and can be used for individual counselling. We
see this adding lot of value to our students in future.

We have also started a pre-primary section this year in our new
Gyanda centre. We are developing a curriculum after a baseline
study. The program looks at providing a strong Foundational
literacy and numeracy, crucial for a child to attain basic
numeracy and literacy skills by the end of grade 3.

For Institutions and Individual having emergency medical
need, the company has supported Sheth Kasturbhai Lalbhai
Hospital with an Ambulance. It has also supported few patients
financially in meeting their critical medical situation.

The Company is carrying out an Ongoing Inner Wellbeing
Program in rural Gujarat and Rajasthan since last five years.
This is result of our conviction that the physical and social
developments are meaningful only if people are also well from
within. Heartfulness Meditation programs are being conducted
in a planned and structured manner. This program is based
on the Sahaj Marg system of Raja Yoga meditation. We had
reported that in 2021-22, due to COVID, this programme
suffered badly and most of the sessions were conducted
online. We have, however, started this again going into villages,
schools and rural institutions. Altogether, 8 people team
reached to about 80 villages where regular sessions are getting conducted. About 162 schools and 50 rural institutions had
awareness sessions conducted.

The Company has supported a programme of Promotion of
Indology for Promotion of National Heritage, Art and Culture.
The programme is being carried out through our partner
organisation Lalbhai Dalpatbhai Bhartiya Sanskriti Vidya
Mandir (LDBSVM). The programme is to support preservation
of manuscript, digitisation of manuscripts, automating the
Library that has rare books, purchase of books and upgrading
the Manuscript Data Archival Software System for tracking the
digitised and archived manuscripts. The project also involves
upgradation of infrastructure. This is being done to expand the
Institution's engagement with the public. It is being done both
through online and offline methods.

Indigo Art Museum Project: The Company has supported
Arvind Indigo Foundation for setting up the Indigo Art
Museum. The Purpose of setting up the Indigo Museum is to
capture the story of indigo and associated materials to create
and capture broader narratives around the story and future of
the colour and how it can play a crucial role in design thinking,
artistic collaborations and sustainability. This living museum
seeks to become a laboratory of ideas and practices so that
the heritage of indigo is not presented as an inaccessible past
but as a living colour with a story of continuing innovations in
variety of materials.

For the Indigo Art Museum project, the land has been
identified, the design and the foundation work is under
progress and the structural clearing up of the site is done to
start further construction activities. In addition, the Arvind
Indigo Foundation has also started acquiring the artefacts,
artwork and collaboration with artists, sculptors and designers
on further work.

A company grows when its people grow. At Arvind we believe
that talent truly shapes organizational success and destiny.
At Arvind, there is highest commitment to investing in hiring
the right talent, sustainably engaging and developing them,
retaining and rewarding them to deliver organizational results
and growth.

An important focus area for the organization has been to
respond to trends shaping the future of work, that make the
company agile, productive and help improve HR systems,
processes and enhance employee experience.

The Company has invested efforts in bringing effectiveness
in hiring and creating an employer brand, creating internal
mobility, reorganizing structures in line with business

plans and performance and establishing the right rewards
and recognition.

To ensure that our employees continue to challenge
themselves and grow, the company has brought a significant
focus to internal mobility and to rotating employees across
different functional roles in order to grow into higher roles.

On learning our focus shall continue to be towards digitalization
of learning and introduction of various e-learning courses on
managerial & functional competencies. Adoption of digital
tools, incorporation of hybrid work culture, in our new way of
working has ensured that our employees are equipped to work
with these through the right skills.

While doing so, we have been cognizant of understanding what
motivates and engages our people and how they perceive
their work environment. Therefore, we encourage open and
regular dialogue between managers and their team members
and offer hand holding support which ensures our people feel
comfortable to speak up, raise concerns and are empowered
to initiate improvements.

Our approach to performance management is a holistic
one wherein, while holding people accountable, we look at
continuous development and create opportunities for them to
excel in new and or larger roles. This approach is directly linked
to our compensation framework and promotion process. We
also offer a wide range of benefits to our employees.

To ensure we develop future leaders, we provide a number of
opportunities to foster management and leadership skills. The
purpose is to equip our people with the necessary capabilities
to lead the organization through change, develop their teams,
manage performance and ensure business success in line with
the organizational strategy.

The Company has a robust Enterprise Risk Management
framework which enables it to take certain risks to remain
competitive and achieve higher growth and at the same time
mitigate other risks to maintain sustainable results.

Under the framework, the Company has laid down a Risk
Management Policy which defines the process for identification
of risks, its assessment, mitigation measures, monitoring and
reporting. While the Company, through its employees and
Executive Management, continuously assess the identified
Risks, the Risk Management Committee reviews the identified
Risks and its mitigation measures annually.

The top 20 risks identified by the Company includes - 4
Strategic Risks, 14 Operational Risks & 2 Regulatory Risks.
Key Strategic Risks include demand destruction/shift, geo-
political issues, supply chain disruption and reputational risks.

Key Operating Risks include customer concentration, vendor
concentration, availability of competent human resource,
major system outages, industrial safety and cyber security/
data protection. Regulatory Risks include changes in trade
agreements, litigation and regulatory compliances.

The Company has in place adequate internal financial controls
with reference to the Financial Statements commensurate
with the size, scale and complexity of its operations. During
the year, such controls were tested and no reportable
material weakness in the design or operation was observed.
The Statutory Auditors of the Company have audited such
controls with reference to the Financial Reporting and their
Audit Report is annexed as Annexure A to the Independent
Auditors' Report under the Standalone Financial Statements
and the Consolidated Financial Statements which forms part
of the Integrated Annual Report.

The Company has a vigil mechanism named Whistle Blower
Policy to deal with instances of fraud and mismanagement,
if any. The details of the Whistle Blower Policy are explained
in the Corporate Governance Report and also posted on the
website of the Company at

As on 31^st March 2023, the Company has 22 subsidiary
companies (Direct or Indirect) and 4 joint ventures and 1
associate company.

During the year under review, companies/entities which
have become and ceased to be subsidiary, joint venture or
associate of the Company are given in the note no. 35 to the
Financial Statements.

Pursuant to the provisions of Section 129(3) of the Companies
Act, 2013 read with the Companies (Accounts) Rules, 2014, a
statement containing salient features of financial statements
of subsidiaries, associates and joint venture companies in
Form AOC-1 is attached to the Financial Statements. The
separate audited financial statements in respect of each
of the subsidiary shall be kept open for inspection at the
Registered Office of the Company. The Company will also make
available these documents upon request by any Member of
the Company interested in obtaining the same. The separate
audited financial statements in respect of each of the
subsidiary are also available on the website of the Company at
http://www.arvind.com/financial-reports

The Company has framed a policy for determining material
subsidiaries, which has been uploaded on Company's
website at

During the year under review, there has been no Material
change in the nature of business of the Company.

However, during the year, the Company amended the "Object
Clause" of Memorandum of Association of the Company by
inserting two new objects viz. (i) establishing separate division
for sourcing and imparting customised training to manpower
required for various entry level job roles in textile and other
industry and (ii) designing, manufacturing and supply of
products made from indigo dyes.

The Board of Directors consists of 9 (nine) members, of which
5 (five) are Independent Directors. The Board also comprises
of one woman Independent Director.

As per the provisions of Section 152(6) of the Act, Mr. Punit
Sanjay Lalbhai (DIN 05125502) shall retire by rotation at the
ensuing Annual General Meeting and being eligible, offered
himself for re-appointment as the Director of the Company.

Ms. Renuka Ramnath (DIN: 00147182) tendered her resignation
as an Independent Director of the Company consequent to the
other pre-occupation. The Board has taken her resignation on
record at the Board Meeting held on 18^th May, 2022 and placed
on record its appreciation for the valuable services rendered
by Ms. Renuka Ramnath during her tenure as an Independent
Director of the Company.

As per the approval received by the shareholders through
Postal Ballot, Mr. Punit Sanjay Lalbhai (DIN: 05125502) and
Mr. Kulin Sanjay Lalbhai (DIN: 05206878) were re-appointed
as Executive Directors of the Company for a further period of
five years from 1^st August 2022.

As approved by the Board of Directors of the Company at
the Board Meeting held on 1^st August, 2022 and approved by
shareholders in Annual General Meeting held on 6^th September,
2022, Ms. Ismet Tehmesp Khambatta (DIN: 00030325) was
appointed as an Independent Director of the Company for a
period of five years from 1^st August, 2022. In the opinion of
the Board, she possesses requisite expertise, integrity and
experience (including proficiency) for appointment as an
Independent Director of the Company.

The Board of Directors of the Company at their meeting held
on 25^th January, 2023 accepted resignation of Mr. Swayam
Saurabh as Chief Financial Officer as part of internal re-

organisation and appointed Mr. Jayesh Kantilal Shah, Whole
Time Director as Chief Financial Officer (CFO) of the Company
with effect from 26^th January 2023.

As per the provisions of Section 203 of the Companies Act,
2013, Mr. Sanjay Lalbhai - Chairman and Managing Director,
Mr. Punit Lalbhai - Vice Chairman & Executive Director,
Mr. Kulin Lalbhai - Executive Director, Mr. Jayesh Shah -
Whole Time Director and Group Chief Financial Officer, and
Mr. R.V. Bhimani - Company Secretary; are the Key Managerial
Personnel of the Company.

Pursuant to the provisions of the Companies Act, 2013
and Regulation 17(10) of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, the Board has
carried out an annual evaluation of its own performance as
well as that of its Committees and Individual Directors. The
manner in which the evaluation has been carried out has been
explained in the Corporate Governance Report.

The Board has, on the recommendation of the Nomination
and Remuneration Committee, framed a policy for selection
and appointment of Directors, Key Managerial Personnel
and Senior Management and their remuneration. The Policy
broadly lays down the guiding principles, philosophy and
the basis for payment of remuneration to Executive and
Non-Executive Directors, Key Managerial Personnel and
Senior Management. The policy also provides the criteria
for determining qualifications, positive attributes and
Independence of Director and criteria for appointment
and removal of Directors, Key Managerial Personnel /
Senior Management and performance evaluation which are
considered by the Nomination and Remuneration Committee
/ Board of Directors. The policy is available on the website of
the Company at

In compliance with the requirements of SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015,
the Company has put in place a familiarization programme
for the Independent Directors to familiarize them with their
role, rights and responsibility as Directors, the working of
the Company, nature of the industry in which the Company
operates, business model etc. The details of the familiarization
programme are explained in the Corporate Governance Report
and also available on the Company's website at

The Company has received declarations from all the
Independent Directors of the Company confirming that
they meet the criteria of independence as prescribed under
Section 149(6) of the Companies Act, 2013 and the SEBI
(Listing Obligations and Disclosure Requirements) Regulations,
2015 and they have complied with the Code for Independent
Directors as prescribed in Schedule IV to the Act.

A calendar of Meetings is prepared and circulated in advance
to the Directors.

During the year under review, 5 meetings of the Board were
held. The details of the Board and Committee meetings are
provided in the Corporate Governance Report forming part of
this Report.

With an objective of strengthen the governance standards
and to comply with the applicable statutory provisions,
the Board has constituted various committees details of
such Committees constituted by the Board are given in
the Corporate Governance Report, which forms part of this
Annual Report.

Pursuant to Section 134(5) of the Companies Act, 2013, the
Board of Directors, to the best of their knowledge and ability,
confirm that:

a. in DreDaration of the annual accounts for the financial
year ended 31^st March, 2023 the applicable accounting
standards have been followed along with proper
explanation relating to material departures, if any;

b. 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 ComDany at the end of
the financial year and of the Drofit and loss of the ComDany
for that period;

c. they have taken proper and sufficient care towards
the maintenance of adequate accounting records in
accordance with the provisions of this Act for safeguarding
the assets of the Company and for preventing and
detecting fraud and other irregularities;

d. they have prepared the annual accounts on a going
concern basis;

e. they have laid down internal financial controls, which are
adequate and are operating effectively;

f. they have devised proper systems to ensure compliance
with the provisions of all applicable laws and such systems
are adequate and operating effectively.

All the related party transactions are entered on arm's length
basis, in the ordinary course of business and are in compliance
with the applicable provisions of the Companies Act, 2013 and
the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015. There are no materially significant related
party transactions made by the Company with Promoters,
Directors, Key Managerial Personnel etc. which may have
potential conflict with the interest of the Company at large or
which warrants the approval of the shareholders. Accordingly,
no transactions are being reported in Form AOC-2 in terms
of Section 134 of the Act read with Rule 8 of the Companies
(Accounts) Rules, 2014. However, the details of the transactions
with Related Parties are provided in the Company's financial
statements in accordance with the Accounting Standards.

All Related Party Transactions are presented to the Audit
Committee and the Board. Omnibus approval is obtained for
the transactions which are foreseen and repetitive in nature.
A statement of all related party transactions is presented
before the Audit Committee on a quarterly basis, specifying
the nature, value and terms and conditions of the transactions.

The Policy on Related Party Transactions as approved by the
Board is available on Company's website at https://www.arvind.com/sites/default/files/field policy file/Related%20Party%20Transactions%20Policy%20
2022.pdf

There are no significant material orders passed by the
Regulators/ Courts which would impact the going concern
status of the Company and its future operations.

• Statutory Auditors

M/s Deloitte Haskins & Sells LLP, Chartered Accountants,
(ICAI Firm Registration No. 117366W/W-100018) were
re-appointed as the Statutory Auditors of the Company at
the Annual General Meeting of the Company held on 6^th
September, 2022 for a term of five consecutive years. The
Report given by the Auditors on the financial statements

of the Company is part of the Annual Report. There has
been no qualification, reservation, adverse remark or
disclaimer given by the Auditors in their Report.

Kiran J. Mehta & Co., Cost Accountants, Ahmedabad (Firm
Registration No. 000025) carried out the cost audit for
applicable businesses during the year. The Board of
Directors has appointed them as Cost Auditors for the
financial year 2022-23. The remuneration payable to
the Cost Auditors is required to be placed before the
Members in a general meeting for their ratification.
Accordingly, a Resolution seeking Members' ratification
for the remuneration payable to Kiran J. Mehta & Co., Cost
Auditors is included at item No.4 of the notice convening
the Annual General Meeting.

In accordance with the provisions of Section 148(1) of
the Act, read with the Companies (Cost Records and
Audit) Rules, 2014, the Company has maintained cost
accounts and records.

Pursuant to the provisions of Section 204 of the
Companies Act, 2013 and The Companies (Appointment
and Remuneration of Managerial Personnel) Rules,
2014, the Company has appointed M/s. Hitesh Buch &
Associates, a firm of Company Secretaries in practice,
to conduct the Secretarial Audit of the Company for the
financial year 2022-23.

The Secretarial Audit Report for the financial year
ended 31^st March 2023, pursuant to Section 204 of
the Companies Act, 2013 and Rule 9 of the Companies
(Appointment and Remuneration of Managerial
Personnel) Rules, 2014 and Regulation 24A of the
SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 is annexed herewith as "Annexure -
C". The Secretarial Audit Report does not contain any
qualifications, reservation or adverse remarks.

The Company believes that its Members are its most important
stakeholders. Accordingly, the Company's operations are
committed to the pursuit of achieving high levels of operating
performance and cost competitiveness, consolidating and
building for growth, enhancing the productive asset and
resource base and nurturing overall corporate reputation.
The Company is also committed to creating value for its other
stakeholders by ensuring that its corporate actions positively

impact the socio-economic and environmental dimensions
and contribute to sustainable growth and development.

The Corporate Governance Report and Management
Discussion & Analysis, which form part of this Report, together
with the Certificate from the auditors of the Company regarding
compliance of conditions of Corporate Governance as
stipulated in Schedule V of Regulation 34(3) of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015.

The Business Responsibility & Sustainability Report for the year
ended 31^st March 2023 as stipulated under Regulation 34 of
the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 is annexed which forms part of this
Annual Report.

During the year under review, the Company has complied
with the provisions of Secretarial Standard -1 and Secretarial
Standard - 2 issued by the Institute of Company Secretaries
of India.

The information on conservation of energy, technology
absorption and foreign exchange earnings and outgo
stipulated under Section 134(3)(m) of the Companies Act,
2013 read with Rule 8 of The Companies (Accounts) Rules,
2014, is annexed herewith as "Annexure - D".

Pursuant to Section 92(3) read with Section 134(3)(a) of the
Act, the Annual Return as on March 31, 2023 is available on
the Company's website at

https://www.arvind.com/sites/default/files/field_investor_updates_file/Annual%20Return-%202022-23.pdf

The information required pursuant to Section 197(12) of
the Companies Act, 2013 read with Rule 5(2) and 5(3) of the
Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014 in respect of employees of the

Company, will be provided upon request. In terms of Section
136(1) of the Companies Act, 2013, the Report and Accounts
are being sent to the Members and others entitled thereto,
excluding the information on employees' particulars which
is available for inspection by the Members at the Registered
Office of the Company during business hours on working days
of the Company up to the date of the ensuing Annual General
Meeting. If any Member is interested in obtaining a copy
thereof, such Member may write to the Company Secretary in
this regard.

Disclosures pertaining to remuneration and other details as
required under Section 197(12) of the Companies Act, 2013
read with Rule 5(1) of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014 are given
in "Annexure - E'' to this report.

The Company has zero tolerance for sexual harassment at
workplace and has adopted a policy against sexual harassment
in line with the provisions of Sexual Harassment of Women at
Workplace (Prevention, Prohibition and Redressal) Act, 2013
and the rules framed thereunder.

Arvind Internal Complaints Committee (AICC) is formed and its
details are declared across the organizations. All AICC members
are trained by subject experts on handling the investigations
and proceedings as defined in the policy

During the financial year 2022-23, there were 3 complaints that
were filed during the year and each of these cases have been
investigated, necessary actions have been taken and closed.

The Board of Directors state that no disclosure or reporting is
required in respect of the following matters as there were no
transactions or applicability pertaining to these matters during
the year under review:

i) Fraud reported by the Auditors to the Audit
Committee or the Board of Directors of
the Company.

ii) Payment of remuneration or commission from
any of its subsidiary companies to the Managing
Director/ Whole Time Director of the Company.

iii) Voting rights which are not directly exercised
by the employees in respect of shares for the
subscription/ purchase of which loan was given
by the Company (as there is no scheme pursuant

to which such persons can beneficially hold
shares as envisaged under section 67(3)(c) of the
Companies Act, 2013).

iv) Details of any application filed for corporate
insolvency under Corporate Insolvency Resolution
Process under the Insolvency and Bankruptcy
Code, 2016.

vi) One time settlement of loan obtained from the
banks or financial institutions.

The Board expresses its sincere thanks to all the employees,
customers, suppliers, investors, lenders, regulatory and
government authorities and stock exchanges for their co-
operation and support and look forward to their continued
support in future.

Annexure A to the Directors' Report

Annexure B to the Directors' Report

Care for the society has been an intrinsic value for the promoters of the Lalbhai Group. We strongly believe that a company can
improve its own functioning by influencing the environment in which it operates. Our long tradition of contributing to the growth
and development of the society led to the setting up of multiple institutions in the realm of educational, social and cultural domains
in improving the lives of the people. Our ethos in the realm of Corporate Social Responsibility got culminated in Arvind Limited Policy
on Corporate Social Responsibility (ALPCSR).

Our CSR Policy is and will always be synergetic to the broader areas that the Schedule VII of the New Companies Act has defined or
will define from time to time.

The key points of the policy can be reached at our website through the given link:
https://www.arvind.com/sites/default/files/field policy file/CSR%20Policy%202019.pdf

The Arvind Limited has set up Corporate Social Responsibility Committee (CSR Committee) as per the requirement of the Companies
Act. The members of the CSR Committee are:

Not Applicable

5. a) Average net profit of the Company as per sub-section (5) of section 135: ' 248.29 crores

b) Two percent of average net profit of the company as per sub-section (5) of section 135: ' 4.97 crores

c) Surplus arising out of the CSR projects or programmes or activities of the previous financial years: NIL

d) Amount required to be set off for the financial year, if any: NIL

e) Total CSR obligation for the financial year [(b)+(c)-(d)]: ' 4.97 crores

6. a) Amount spent on CSR Projects (both Ongoing Project and other than Ongoing Project): ' 5.06 crores

b) Amount spent in Administrative Overheads: NIL

c) Amount spent on Impact Assessment, if applicable: NIL

d) Total amount spent for the Financial Year [(a)+(b)+(c)]: ' 5.06 crores

e) CSR amount spent or unspent for the financial year:

f) Excess Amount for set off, if any:

? Yes ? No

No (No Capital Asset created during the financial year 2022-23)

If Yes, enter the number of Capital assets created/ acquired:

Furnish the details relating to such asset(s) so created or acquired through Corporate Social Responsibility amount spent in the
Financial Year:

Not Applicable

Arvind Ltd Company Background

Arvind Ltd Company Management

Arvind Ltd Listing Information

Arvind Ltd Finished Product