annual-report-FY2021

188 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS 13. Category wise shareholding as of 31 st March, 2021 18.89% Promoters and Promoter Group 10.13% Insurance Companies 8.19% Individual Resident shareholders 1.96% Others 6.06% Qualified Institutional Buyers 37.81% Foreign Portfolio Investors (including FIIs & FPC's) 10.08% Mutual Funds 2.88% GDR Holders 4.00% Employee Benefit Trusts 14. Dematerialisation of Shares and Liquidity 99.56% of the paid-up Ordinary (Equity) Share Capital of your Company is held in a dematerialised form with National Securities Depository Limited and Central Depository Services (India) Limited as on 31 st March, 2021. The market lot of the Share of your Company is one Share, as the trading in the Equity Share of your Company is permitted only in dematerialised form. The Non-Promoters’ holding as on 31 st March, 2021 is around 81.11% and the stock is highly liquid. 2019 99.50% 0.50% 99.55% 0.45% 2020 99.56% 0.44% 2021 Dematerialized Physical 15. Outstanding GDRs/ADRs/Warrants or any Convertible Instruments, Conversion date and likely impact on Equity 3,58,41,803 GDRs were outstanding as on 31 st March, 2021. Since the underlying Ordinary (Equity) Shares represented by GDRs have been allotted in full, the outstanding GDRs have no impact on the Equity of the Company. There are no other convertible instruments outstanding as on 31 st March, 2021. 16. Commodity price risk or Foreign Exchange Risk & hedging activities The Financial Year 2020-21 witnessed a sharp rise in prices of all the commodities with major increase in sheet metal, castings and forgings on account of pandemic breakout and sharp recovery thereafter. Despite sharp increase in raw material prices your company stayed focused on cost reduction through measures like VA/VE, negotiation with suppliers, long term price contracting, etc. Your Company continues to watch the market situation closely and continues to focus on mitigating commodity price volatility through “Commodity Risk Management” and other cost reduction measures. Hedging of currencies and commodities are being governed in accordance with the Foreign Exchange Risk Management Policy and Commodity Risk Management Policy, approved by the Board of Directors of your Company. The details of Foreign Exchange hedging activities undertaken by the Company are disclosed in Note No. 34 to the Annual Accounts of the Annual Report. Disclosures regarding commodity price risk and hedging activities, the details of exposure of the Company to material commodities and risks faced by it throughout the year as mandated by