| Details regarding energy conservation CONSERVATION OF ENERGY : Your Company, being a non-banking non-financial Company, no specific comments in terms of the provisions of Section 134(3)(m) of the Companies Act, 2013 are called for on conservation of energy. Details regarding technology absorptionTECHNOLOGY ABSORPTION : Your Company, being a non-banking non-financial Company, no specific comments in terms of the provisions of Section 134(3)(m) of the Companies Act, 2013 are called for on technology absorption. Your Company has, however, used information technology relevant to its business in keeping with the size of its operations. Description of state of companies affair(I) STATE OF COMPANY AFFAIRS (BUSINESS RESULTS & DIVIDEND): For the year ended March 31, 2018 the revenue of the company by way of management fees and other income earned was at Rs. 10915.37 Lakhs (previous year ended March 31, 2017: Rs. 9225.41 Lakhs). The expense of the Company was at Rs. 7581.00 Lakhs (previous year ended March 31, 2017: Rs. 6849.72 Lakhs). The Profit after Tax of the Company was at Rs. 2270.50 Lakhs (previous year ended March 31, 2017: Rs. 1621.25 Lakhs). The average assets under management (AAUM) stood at Rs. 12675.21 Crores (previous year ended March 31, 2017: Rs. 10003.75 Crores). The AAUM includes the AAUM of Rs. 48.23 Crore of the Fund of Fund’s scheme. For the year ended March 31, 2018 the income from Offshore Advisory earned was Rs. 395.17 Lakhs (previous year ended March 31, 2017: Rs. 289.40 Lakhs). (II) OPERATIONS: In tune with the market demand, the following schemes were launched during the year : Name | Type | Initial Subscription | Canara Robeco Capital Protection Oriented Fund - Series 8 | Close Ended Capital Protection Oriented Scheme | Rs.792.04 Crores | Canara Robeco Capital Protection Oriented Fund - Series 9 | Close Ended Capital Protection Oriented Scheme | Rs.491.24 Crores |
Apart from capital appreciation under growth plans of various Schemes and daily/weekly/fortnightly/monthly dividends in Canara Robeco Liquid, Canara Robeco Treasury Advantage, Canara Robeco Savings Plus Fund, Canara Robeco Short Term Fund, Canara Robeco Monthly Income Plan, Canara Robeco Balance and Canara Robeco Yield Advantage Fund, the following Schemes declared dividends during the year under dividend option : Sr. No. | Schemes | Dividend (Rs. Per unit) | Regular Plan | Direct Plan | 1. | Canara Robeco Medium Term Opportunities | Rs. 0.35 twice during the year) | Rs. 0.35 (twice during the year) | 2. | Canara Robeco Income | Rs. 0.20 (4 times during the year) | Rs. 0.20 ( 4 times during the year) | 3. | Canara Robeco Monthly Income Plan | Rs. 0.30 (4 times during the year) | Rs. 0.30 (4 times during the year) | 4. | Canara Robeco InDiGo Fund | Rs. 0.15 (4 times during the year) | Rs. 0.15 (4 times during the year) | 5. | Canara Robeco Yield Advantage Fund | Rs. 0.18 (4 times during the year) | Rs. 0.18 (4 times during the year) | 6. | Canara Robeco Gilt PGS | Rs. 0.45 (twice during the year) | Rs. 0.45 (twice during the year) | 7. | Canara Robeco Dynamic Bond Fund | Rs. 0.40 (Once during the year) Rs. 0.45 (once during the year) | Rs. 0.40 (once during the year) Rs. 0.45 (once during the year) | 8. | Canara Robeco F.O.R.C.E Fund | Rs. 2.50 (Once during the year) Rs. 1.50 (Once during the year) | Nil | 9. | Canara Robeco Infrastructure | Rs. 1.75 (Once during the year) | Nil | 10. | Canara Robeco Equity Diversified | Rs. 3.00 (once during the year) | Rs. 4.00(once during the year) | 11. | Canara Robeco Equity Taxsaver | Rs. 1.00 (twice during the year) | Rs. 1.50 (twice during the year) | 12. | Canara Robeco India Opportunities Fund | Rs. 0.25 (once during the year) Rs. 0.40 (once during the year) Rs. 1.00 (once during the year) | Rs. 0.25 (once during the year) Rs. 0.40 (once during the year) Rs. 1.00 (once during the year) | 13. | Canara Robeco India Opportunities -Series 2 | Rs. 0.40 (once during the year) Rs. 0.10 (once during the year) | Rs. 0.40 (once during the year) Rs. 0.10 (once during the year) | 14. | Canara Robeco Emerging Equities | Rs. 2.50 (Once during the year) | Rs. 3.0 (once during the year) | 15. | Canara Robeco Large Cap+ Fund | Rs. 1.35 (Once during the year) | Nil |
As on 31st March, 2018, the Company has been managing 27 schemes of Canara Robeco Mutual Fund, of which 10 are debt oriented schemes, 6 are equity oriented schemes, 9 are hybrid schemes, 1 is an Exchange Traded Fund & 1 is a domestic Fund of Fund. Details regarding foreign exchange earnings and outgoFOREIGN EXCHANGE EARNINGS AND OUTGO : The Foreign Exchange Earnings and Expenditure is as follows: Earning in foreign currency aggregated to Rs. 395.17 Lakhs (previous year: Rs. 289.40 Lakhs). Expenditure in foreign currency aggregated to Rs. 410.26 Lakhs (previous year: Rs. 372.74 Lakhs). Disclosures in director’s responsibility statementDIRECTORS’ RESPONSIBILITY STATEMENT: Pursuant to Section 134 (3) & Section 134(5) of the Companies Act, 2013, your Directors, based on the representation received from the Management Team, confirm that: (a) in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures; (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 company at the end of the financial year and of the profit and loss of the company for that period; (c) they have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act 2013 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; and (e) they have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively. Disclosure in board of directors report explanatoryTO THE MEMBERS: Your Directors have pleasure in presenting the Twenty Fifth Annual Report together with the Audited Statement of Accounts for the financial year ended 31st March, 2018. (I) AUDITORS: Under Section 139 of the Companies Act 2013, the Auditor of the Company is appointed by the Comptroller of Auditor General of India, New Delhi. Under Section 142 of the Companies Act, 2013, the remuneration of Auditors appointed under Section 139 by the Comptroller and Auditor General of India, is fixed by the Company in the General Meeting. Accordingly, M/s. Santosh Gupta & Co., Chartered Accountants, was appointed by the Comptroller of Auditor General of India as the Statutory Auditors of the Company for the year 2017-18 and its remuneration was fixed by the Members at the 24th AGM of the Company. (II) ACKNOWLEDGEMENTS: Your Directors wish to place on record their gratitude for the support and guidance received from SEBI, Board of Trustees of Canara Robeco Mutual Fund, joint venture partners, Canara Bank and Orix Corporation Europe N.V. , confidence reposed by the investor community and the dedicated work put in by the staff at all levels in the Company. |