Standalone Financial Statements For Financial Year Ending On 31 March, 2022

JOHNSON CONTROLS (INDIA) PRIVATE LIMITED
Standalone Financial Statements for period 01/04/2021 to 31/03/2022
[400100] Disclosure of general information about company

Unless otherwise specified, all monetary values are in Lakhs of INR
01/04/2021 01/04/2020
to to
31/03/2022 31/03/2021
JOHNSON CONTROLS (INDIA)
Name of company PRIVATE LIMITED
Corporate identity number U33130PN1995PTC188911
Permanent account number of entity AABCR7554C
3rd Floor, B2 Tower,
Cerebrum IT Park, Kalyani
Address of registered office of company Nagar Pune Pune MH 411014
IN
Commercial and
Type of industry Industrial
Registration date 27/09/1995
Company limited by
Category/sub-category of company Shares/ Non-govt company
Whether company is listed company No
Date of board meeting when final accounts were approved 21/10/2022
Period covered by financial statements 12 Months 12 Months
Date of start of reporting period 01/04/2021 01/04/2020
Date of end of reporting period 31/03/2022 31/03/2021
Nature of report standalone consolidated Standalone
Content of report Financial Statements
Description of presentation currency INR
Level of rounding used in financial statements Lakhs
Type of cash flow statement Indirect Method
Whether company is maintaining books of account and other
Yes
relevant books and papers in electronic form
5th & 6th Floor, Tower-B,
Complete postal address of place of maintenance of computer Tech Park One Survey No.
servers (storing accounting data) 191, 2A/12, Yerwada, Pune
411006 MH IN
Name of city of place of maintenance of computer servers (storing
Pune
accounting data)
Name of state/ union territory of place of maintenance of
Maharashtra
computer servers (storing accounting data)
Pin code of place of maintenance of computer servers (storing
411006
accounting data)
Name of district of place of maintenance of computer servers
Pune
(storing accounting data)
ISO country code of place of maintenance of computer servers
IN
Name of country of place of maintenance of computer servers
India
Phone (with STD/ ISD code) of place of maintenance of computer
+91 (20) 6606 7100
servers (storing accounting data)
JOHNSON CONTROLS (INDIA) PRIVATE LIMITED Standalone Financial Statements for period 01/04/2021 to 31/03/2022
Disclosure of principal product or services [Table] ..(1)

Types of principal product or services [Axis] 1 2
01/04/2021 01/04/2021
to to
31/03/2022 31/03/2022
Disclosure of general information about company [Abstract]
Disclosure of principal product or services [Abstract]
Disclosure of principal product or services [LineItems]
Product or service category (ITC 4 digit) code 9981 9954
Research and
Construction
Description of product or service category Development
Services
Services
Turnover of product or service category 57,012 46,074
Highest turnover contributing product or service (ITC 8 digit) code 99811297 99546320
Research and
Construction
Description of product or service Development
Services
Services
Turnover of highest contributing product or service 57,012 46,074
[400400] Disclosures - Directors report
Details regarding auditors' qualification(s), reservation(s) adverse remark(s) in auditors' report [Table] ..(1)
Auditors' qualification(s), reservation(s) adverse remark(s) in auditors' report [Axis] 1 2 3
01/04/2021 01/04/2021 01/04/2021
to to to
31/03/2022 31/03/2022 31/03/2022
Details regarding auditors' qualification(s), reservation(s) adverse
remark(s) in auditors' report [Abstract]
Details regarding auditors' qualification(s), reservation(s)
adverse remark(s) in auditors' report [LineItems]
Company had not
spent the full CSR
amount in F.Y.
Auditors' qualification(s), reservation(s) adverse remark(s) in Textual information Textual information
2021-22 as pet the
auditors' report (1) [See below] (2) [See below]
provisions of the
Companies Act,
2013
Directors' comment on auditors' qualification(s), Textual information Textual information Textual information
reservation(s) adverse remark(s) in auditors' report (3) [See below] (4) [See below] (5) [See below]
Details of directors signing board report [Table] ..(1)

Directors signing board report [Axis] 1 2 3
01/04/2021 01/04/2021 01/04/2021
to to to
31/03/2022 31/03/2022 31/03/2022
Details of signatories of board report [Abstract]
Details of directors signing board report [LineItems]
Name of director signing board report [Abstract]
SIVAKUMAR
MURUGESAN
First name of director ARUN AWASTHY S E L V A
MOTTAIYAN
GANAPATHY
Designation of director Managing Director Director Director
Director identification number of director 01991681 09701630 09701686
Date of signing board report 21/10/2022 21/10/2022 21/10/2022
2
Details of material contracts/arrangements/transactions at arm's length basis [Table] ..(1)

Material contracts/arrangements/transactions at arm's length basis
1 2 3 4
[Axis]
01/04/2021 01/04/2021 01/04/2021 01/04/2021
to to to to
31/03/2022 31/03/2022 31/03/2022 31/03/2022
Johnson
Johnson Controls
Johnson Controls York International Controls-Hitachi Air
Name of related party Inc., USA Corporation, USA
Building Efficiency
Conditioning India
Limited
Limited
Fellow Subsidiary Fellow Subsidiary Fellow Subsidiary
Nature of related party relationship Holding company
company company company
Details of material
contracts/arrangements/transactions at arm's
length basis [Abstract]
Details of material
length basis [LineItems]
Johnson
Johnson Controls
Johnson Controls York International Controls-Hitachi Air
Name of related party Inc., USA Corporation, USA
Building Efficiency
Conditioning India
Limited
Limited
Nature of related party relationship Holding company
company company company
1. Revenue from
1. Income from contracts relating to
engineering services building efficiency
Revenue from
– INR 1,005 Lakhs and refrigeration
Description of nature of material contracts relating to
2. Income from plants – INR 52
Textual information building efficiency
contracts/arrangements/transactions with (6) [See below]
business support
and refrigeration
Lakhs 2. Sale of
related party services – INR 179 products
plants – INR 177
Lakhs 3. Purchase (chillers/compressor)
Lakhs
of goods – INR 165 – INR 1,220 Lakhs
Lakhs 3. Purchase of Goods
– INR 2,280 Lakhs
Duration of material
contracts/arrangements/transactions with Ongoing Ongoing Ongoing Ongoing
related party

5 6 7 8
[Axis]
01/04/2021 01/04/2021 01/04/2021 01/04/2021
to to to to
31/03/2022 31/03/2022 31/03/2022 31/03/2022
Tyco Fire and Johnson Controls
Johnson Controls Johnson Controls
Name of related party Security India
International PLC
International spol
HQ Holding BVBA
Private Limited sro
Fellow Subsidiary Fellow Subsidiary Fellow Subsidiary Fellow Subsidiary
Nature of related party relationship company company company company
Details of material
Details of material
Tyco Fire and Johnson Controls
Name of related party Security India
International PLC
International spol
HQ Holding BVBA
Private Limited sro
1. Income from
shared service –
INR 2,156 Lakhs 2.
Description of nature of material IT charges – INR 32 Income from shared
Textual information Income from shared
contracts/arrangements/transactions with (7) [See below] service – INR 6,279
Lakhs 3 . service – INR 1,420
related party Reimbursement of Lakhs
Expenses (done on
our behalf) – INR
126 Lakhs
contracts/arrangements/transactions with Ongoing - - -
related party
3

9 10 11 12
[Axis]
01/04/2021 01/04/2021 01/04/2021 01/04/2021
to to to to
31/03/2022 31/03/2022 31/03/2022 31/03/2022
York (Shanghai) Air
York Wuxi Air
Conditioning and York Guangzhou
Johnson Controls Conditioning And
Refrigeration Air Conditioning
Name of related party (S) Pte Limited,
International and Refrigeration
Refrigeration
Singapore Company Limited,
Trading Company Company Limited
China
Limited
Details of material
Details of material
York (Shanghai) Air
York Wuxi Air
Conditioning and York Guangzhou
Johnson Controls Conditioning And
Refrigeration Air Conditioning
Name of related party (S) Pte Limited,
International and Refrigeration
Refrigeration
Singapore Company Limited,
Trading Company Company Limited
China
Limited
1. Purchase of 1. Purchase of
1. Direct sales
Description of nature of material Goods - INR 3,981 Goods - INR 250
Direct sales compensation – INR
Lakhs 2. Property, Lakhs 2. Property,
contracts/arrangements/transactions with compensation – INR 7 Lakhs 2. Purchase
Plant and Plant and
related party 842 Lakhs of Goods – INR
Equipment – INR Equipment – INR
1,557 Lakhs
89 Lakhs 15 Lakhs
contracts/arrangements/transactions with - - - Ongoing
related party

13 14 15 16
[Axis]
01/04/2021 01/04/2021 01/04/2021 01/04/2021
to to to to
31/03/2022 31/03/2022 31/03/2022 31/03/2022
Tyco Safety Qolsys Softwares Johnson Controls
Ruskin Titus India
Name of related party Products India India Private
Private Limited
Holding Company
Private Limited Limited Inc, USA
Details of material
Details of material
Tyco Safety Qolsys Softwares Johnson Controls
Ruskin Titus India
Name of related party Products India India Private
Private Limited
Holding Company
Private Limited Limited Inc, USA
1. Interest on fully
1. Purchase of
and compulsory
Goods – INR 2,092
convertible
Lakhs 2. Property, 1. Interest income
unsecured
Plant a n d 1. Short Term on loan given – INR
Description of nature of material debentures – INR
Equipment – INR Borrowings – INR 94 Lakhs 2. Loans
2,681 Lakhs 2.
contracts/arrangements/transactions with 15 Lakhs 3. Interest 60 Lakhs 2. Interest and advances given
Conversion of
related party Income from Loan Expenses – INR 7 – INR 850 Lakhs 3.
compulsory
given – INR 868 Lakhs Loans renewed –
convertible
Lakhs 4. Repayment INR 1,500 Lakhs
debentures into
of loans given –
equity – INR 9,111
INR 796
Lakhs
related party
4

17 18 19 20
[Axis]
01/04/2021 01/04/2021 01/04/2021 01/04/2021
to to to to
31/03/2022 31/03/2022 31/03/2022 31/03/2022
Al Salem Air Johnson Controls
Johnson Controls Tyco Fire & Conditioning Air Conditioning
Name of related party International BV Security Gmbh Company Limited, and Refrigeration
UAE Inc., Dubai
Details of material
Details of material
Al Salem Air Johnson Controls
Johnson Controls Tyco Fire & Conditioning Air Conditioning
Name of related party International BV Security Gmbh Company Limited, and Refrigeration
UAE Inc., Dubai
1. Income from
Description of nature of material Income from Income from
shared services –
IT Charges – INR Business support Business support
contracts/arrangements/transactions with 99 Lakhs
INR 3,713 Lakhs 2.
services - INR 183 services - INR 263
related party Royalty – INR
Lakhs Lakhs
2,229 Lakhs
related party
5

01/04/2021
to
31/03/2022
Textual information (8)
Disclosure in board of directors report explanatory [TextBlock] [See below]
Description of state of companies affair [See below]
Reserves During the
year under review, the
Disclosure relating to amounts if any which is proposed to carry to any
Company has not
reserves transferred any amount
to the General Reserve.
Dividend The Company
has decided to invest
surplus profits into the
Disclosures relating to amount recommended to be paid as dividend business and hence no
dividend is proposed for
the Financial Year
2021-22.
Details regarding energy conservation [See below]
Details regarding technology absorption [See below]
Details regarding foreign exchange earnings and outgo [See below]
Disclosures in director’s responsibility statement [See below]
Details of material changes and commitment occurred during period Textual information (14)
affecting financial position of company [See below]
Particulars of loans guarantee investment under section 186 [TextBlock] [See below]
Particulars of contracts/arrangements with related parties under section Textual information (16)
188(1) [TextBlock] [See below]
Whether there are contracts/arrangements/transactions not at arm's
No
length basis
Whether there are material contracts/arrangements/transactions at
Yes
arm's length basis
Date of board of directors' meeting in which board's report referred
21/10/2022
to under section 134 was approved
Disclosure of extract of annual return as provided under section 92(3)
[TextBlock] NA
Disclosure of statement on declaration given by independent directors
under section 149(6) [TextBlock] NA
Disclosure for companies covered under section 178(1) on
directors appointment and remuneration including other matters [See below]
provided under section 178(3) [TextBlock]
Disclosure of statement on development and implementation of risk Textual information (18)
management policy [TextBlock] [See below]
Details on policy development and implementation by company on
corporate social responsibility initiatives taken during year [See below]
[TextBlock]
Disclosure as per rule 8(5) of companies accounts rules 2014 [TextBlock]
Disclosure of financial summary or highlights [TextBlock] [See below]
Disclosure of change in nature of business [TextBlock] NA
Details of directors or key managerial personnels who were Textual information (21)
appointed or have resigned during year [TextBlock] [See below]
Subsidiaries,
Joint Ventures and
Associate Companies:
Disclosure of companies which have become or ceased to be its / >

subsidiaries, joint ventures or associate companies during
year [TextBlock] /> The Company does not
have any subsidiary,
joint venture or
associate Company.
/>
Details relating to deposits covered under chapter v of companies act Textual information (22)
[TextBlock] [See below]
Details of deposits which are not in compliance with requirements
of chapter v of act [TextBlock] NA
Details of significant and material orders passed by
regulators or courts or tribunals impacting going concern [See below]
status and company’s operations in future [TextBlock]
Details regarding adequacy of internal financial controls with Textual information (24)
reference to financial statements [TextBlock] [See below]
6
Disclosure of appointment and remuneration of managerial personnels Textual information (25)

Disclosure of composition of audit committee and non-acceptance
of any recommendation of audit committee along with reasons [See below]
[TextBlock]
Number of meetings of board 8
Auditors' qualification(s), reservation(s) adverse remark(s) in auditors' report

Attention to Note 39 to the financial statements regarding non-settlement of foreign currency payables aggregating to Rs. 141 lakhs as at
March 31, 2022 due for more than three years from the date of import of goods and services. This is not in compliance with the RBI Master
Direction – Import of Goods and Services No. 17/2016-17 dated January 1, 2016 (as amended). Any penalties that may be levied by Reserve
Bank of India and impact (if any) on the financial statements in this regard are presently not ascertainable
Auditors' qualification(s), reservation(s) adverse remark(s) in auditors' report

Attention to Note 44 to the financial statements with regards to non-compliance with Section 297 of the Companies Act, 1956 by Johnson
Controls Marine and Refrigeration India Limited ("JCMRIL") which was amalgamated with Company w.e.f. appointed date of April 1, 2017
pursuant to the Scheme of the amalgamation approved by National Company Law Tribunal vide its order dated July 24, 2018. Prior to April
1, 2014, JCMRIL had entered into transactions of purchase of goods and services received and sale of goods and services rendered with the
Company in which a Director of JCMRIL was interested as a Director. JCMRIL had not obtained the prior approval from the Central
Government of India as required under Section 297 of the Companies Act, 1956 for transactions of purchase of goods and services received
aggregating to Rs. 2,849 lakhs and sale of goods and services rendered aggregating to Rs. 714 lakhs. The Company has filed for the
compounding application with regards to non-compliance with Section 297 of the Companies Act, 1956 by Johnson Controls Marine and
Refrigeration India Limited ("JCMRIL"). Our opinion is not modified in respect of this matter
Directors' comment on auditors' qualification(s), reservation(s) adverse remark(s) in auditors' report

The Company is in process of applying to RBI seeking permission of extension of time period for settlements of payables aggregating to Rs.
141 lakhs being outstanding for more than 3 years. The management shall ensure that for future settlement of foreign currency will be in
compliance of RBI Master Direction on Import of Goods and Services as stated in Auditors opinion

Company has suo moto sought to compound the offence for the said omission by filing a compounding application dated 29.07.2021. While
the omission was under the Erstwhile Act, it was only identified during the effect of the Companies Act, 2013 (“Present Act”); therefore,
prior to the compounding application, company took corrective measures by complying with the corresponding provision of the Present Act,
being Section 188(1). That, as part of the corrective measures, JCIPL had obtained an approval by way of a shareholder resolution vide the
Ratification Resolution on 30.09.2019. Further, Company has received a nearing notice from Regional Director, west and will present our
side at the hearing.

The company had spent total amount of Rs. 92,01,500/- among which Rs. 47,01,500/- before 31st March, 2022 and Rs. 45,00,000/- after end
of Financial year towards Corporate Social Responsibility expenditure for the Financial Year 2021-22 against the obligation of Rs.
81,42,000/-. The company has excess spend of Rs. 10,59,500/- of CSR expenditure. From the total CSR expenditure, the company has
inadvertently spent its unspent CSR balance of Rs. 34,40,500 for the activity mentioned in Schedule VII of the Companies Act, 2013 towards
promoting health care by way of initiative of "HEALTH ON WHEELS" – A Mobile Hospital for Underprivileged, instead of transfer of such
unspent amount to a Fund specified in Schedule VII of the Companies Act, 2013. The Company has fulfilled the CSR expenditure obligation
for the financial year but inadvertently spent the unspent amount on the activities specified in Schedule VII. The company shall be more
cautious while spending the CSR obligations and ensure to comply with all the provision of the Companies Act, 2013.
7
Description of nature of material contracts/arrangements/transactions with related party

1. Income from engineering services - INR 34,194 Lakhs 2. Income from business support services - INR 201 Lakhs 3. Income from shared
service - INR 11,612 Lakhs 4. Purchase of Goods - INR 653 Lakhs 5. Management Fees - INR 7,773 Lakhs 6. IT Charges - INR 1,244 Lakhs
7. Rates and Taxes - INR 1,405 Lakhs 8. Reimbursement of Expenses (done on our behalf) – INR 1,136 Lakhs
Description of nature of material contracts/arrangements/transactions with related party

1. Income from business support services – INR 496 Lakhs 2. Income from shared service – INR 311 Lakhs 3. Re-payment of Short-term
borrowings – INR 963 Lakhs 4. Interest Expense – INR 344 Lakhs 5. Reimbursement of Expenses (done on our behalf) – INR 1,420 Lakhs
8
Disclosure in board of directors report explanatory [Text Block]

To,
The Members
Johnson Controls (India) Private Limited,
Your Directors have pleasure in presenting their 27th Annual Report on the business and operations of the Company and the accounts for the
Financial Year ended March 31, 2022.
1. Financial summary or highlights/Performance of the Company
PARTICULARS 2021-22 2020-21
Amt in Lakhs (INR) Amt in Lakhs (INR)
Revenue from operations 1,55,220 1,03,751
Other income 1,789 1,515
Total revenue 1,57,009 1,05,266
Total expenses 1,37,940 1,00,401
Profit before exceptional items, prior period item and tax 19,069 4,865
Prior period expense - -
Exceptional income/expense - -
Profit before tax 19,069 4,865
Current tax 5,602 2,042
Deferred tax charge / (credit) (399) (686)
Provision for tax for earlier years (written back) / provided (254) 603
Profit for the year 14,120 2,906
During the Financial year under review, the total revenue of the company increased from INR 1,03,751 Lakhs in FY 2020-21 to INR
1,55,220 Lakhs in FY 2021-22 and the profit has been increased from INR 2,906 Lakhs in FY 2020-21 to INR 14,120 Lakhs to FY 2021-22.
2. Dividend
The Company has decided to invest surplus profits into the business and hence no dividend is proposed for the Financial Year 2021-22.
3. Reserves
During the year under review, the Company has not transferred any amount to the General Reserve.
4. Brief description of the Company’s working during the year/State of Company’s affairs
9
During the year, the Company continued its focus more on better margins for its Systems and Service division along with the enhancement of
revenue. Hence, both the business have registeredgrowth in its revenues as compared to last year.
5. Material changes and commitments, if any, affecting the financial position of the Company which have occurred between the end of the
financial year of the Company to which the financial statements relate and the date of the report
There have not been any changes in the nature of business of the Company, and no such event has been reported after the close of financial
year which will have the material impact on the financial position of the company.
6. Details of significant and material orders passed by the regulators or courts or tribunals impacting the going concern status and company’s
operations in future
There were no orders passed by the regulators or courts or tribunal impacting the going concern status and Company’s operations in future.
7. Deposits
Your company has not accepted any deposits from the public during the year under review within the meaning of Chapter V of the
Companies Act, 2013.
8. Statutory Auditors
M/s. Price Waterhouse & Co Chartered Accountants LLP (FRN 304026E / E-300009), Chartered Accountants were appointed as the
Statutory Auditors of the Company for a period of 5 years at the 25th Annual General Meeting held on 27th October 2020, until the
conclusion of 30th Annual General Meeting.
9. Auditors’ Report:
Following observations/opinions are made in the Auditors report under section 143(2) of the Act and management had given the following
explanation/comment in this regard.
1. Attention to Note 39 to the financial statements regarding non-settlement of foreign currency payables aggregating to Rs. 141 lakhs as at
Bank of India and impact (if any) on the financial statements in this regard are presently not ascertainable.
Management Comment:
The Company is in process of applying to RBI seeking permission of extension of time period for settlements of payables aggregating to Rs.
141 lakhs being outstanding for more than 3 years. The management shall ensure that for future settlement of foreign currency will be in
compliance of RBI Master Direction on Import of Goods and Services as stated in Auditors opinion.
2. Attention to Note 44 to the financial statements with regards to non-compliance with Section 297 of the Companies Act, 1956 by Johnson
Controls Marine and Refrigeration India Limited ("JCMRIL") which was amalgamated with Company w.e.f. appointed date of April 1, 2017
pursuant to the Scheme of the amalgamation approved by National Company Law Tribunal vide its order dated July 24, 2018. Prior to April
1, 2014, JCMRIL had entered into transactions of purchase of goods and services received and sale of goods and services rendered with the
Company in which a Director of JCMRIL was interested as a Director. JCMRIL had not obtained the prior approval from the Central
Government of India as required under Section 297 of the Companies Act, 1956 for transactions of purchase of goods and services received
aggregating to Rs. 2,849 lakhs and sale of goods and services rendered aggregating to Rs. 714 lakhs. The Company has filed for the
compounding application with regards to non-compliance with Section 297 of the Companies Act, 1956 by Johnson Controls Marine and
Refrigeration India Limited ("JCMRIL"). Our opinion is not modified in respect of this matter.
Management Comment:
Company has suo moto sought to compound the offence for the said omission by filing a compounding application dated 29.07.2021. While
the omission was under the Erstwhile Act, it was only identified during the effect of the Companies Act, 2013 (“Present Act”); therefore,
prior to the compounding application, company took corrective measures by complying with the corresponding provision of the Present Act,
being Section 188(1). That, as part of the corrective measures, JCIPL had obtained an approval by way of a shareholder resolution vide the
Ratification Resolution on 30.09.2019.
Further, Company has received a nearing notice from Regional Director, west and will present our side at the hearing.
3. Company had not spent the full CSR amount in F.Y. 2021-22 as pet the provisions of the Companies Act, 2013:
Management Comment:
The company had spent total amount of Rs. 92,01,500/- among which Rs. 47,01,500/- before 31st March, 2022 and Rs. 45,00,000/- after end
of Financial year towards Corporate Social Responsibility expenditure for the Financial Year 2021-22 against the obligation of Rs.
81,42,000/-. The company has excess spend of Rs. 10,59,500/- of CSR expenditure.
From the total CSR expenditure, the company has inadvertently spent its unspent CSR balance of Rs. 34,40,500 for the activity mentioned in
Schedule VII of the Companies Act, 2013 towards promoting health care by way of initiative of "HEALTH ON WHEELS" – A Mobile
Hospital for Underprivileged, instead of transfer of such unspent amount to a Fund specified in Schedule VII of the Companies Act, 2013.
The Company has fulfilled the CSR expenditure obligation for the financial year but inadvertently spent the unspent amount on the activities
specified in Schedule VII. The company shall be more cautious while spending the CSR obligations and ensure to comply with all the
provision of the Companies Act, 2013.
10
10. Details in respect of frauds reported by Auditors under section 143(12) of the Act:
There was no reporting of frauds under section 143(12) by Auditors in their report.
11. Company’s Policy relating to Directors’ appointment, payment of remuneration and discharge of their duties:
The provisions of section 178(1) relating to constitution of Nomination and Remuneration are not applicable to the Company and hence the
Company has not devised any policy relating to appointment of Directors, payment of Managerial Remuneration, Director’s qualifications,
positive attributes, independence of Directors and related matters as provided under section 178(3) of the Act.
12. Details in respect of adequacy of internal financial controls with reference to the financial statements:
The Company has adequate internal financial controls considering size and business operation.
13. Subsidiaries, Joint Ventures and Associate Companies:
The Company does not have any subsidiary, joint venture or associate Company.
14. Disclosure of composition of Audit Committee and providing Vigil Mechanism:
The provision of section 177 of the Act read with Rule 6 and 7 of the Companies (Meetings of the Board and its Powers) Rules, 2014 are not
applicable to the Company.
15. Share Capital
A) Issue of equity shares with differential rights
During the financial year 2021-22, there has not been any issue of equity shares with Differential rights.
B) Issue of sweat equity shares
During the financial year 2021-22, there has not been any issue of sweat equity shares.
C) Issue of employee stock options
The Company did not issue any employee stock options during the year 2021-22.
D) Provision of money by company for purchase of its own shares by employees or by trustees for the benefit of employees
There has not been any provision of money by company for purchase of its own shares by employees or by trustees for the benefit of
employees during the financial year 2021-22.
E) Conversion of Compulsorily Convertible Debentures (CCDs) into Equity
The Company has converted 91,10,700 CCDs of INR 100 each into 9,11,07,000 equity shares of INR 10 each with the conversion ratio of 1:
10 on 26 March 2022.
F) Transfer of Equity Shares
During the year under review no transfer of shares took place.
16. Conservation of energy, technology absorption and foreign exchange earnings and outgo
The details of conservation of energy, technology absorption, foreign exchange earnings and outgo are as follows:
A) Conservation of energy:
(i) the steps taken or impact on conservation of energy;
Your company has been consistently adopting the technologies to conserve the energy and also helps its customer to conserve the energy and
save cost associated with it.
(B)Technology absorption:
(ii) the efforts made towards technology absorption:

Company being mainly into technology sector has been expanding its operation and research and development.
(ii) the benefits derived like product improvement, cost reduction, product development or import substitution:
Company has been consistently using technology platforms for improving existing products and innovate new products.
11
(iii) in case of imported technology (imported during the last three years reckoned from the beginning of the financial year)-
(a) the details of technology imported: No ‘technology’ was imported per se. These are standard JCI products (sensors /controllers etc.)
available globally and were used to develop the solutions.
(b) the year of import: N.A.
(c) whether the technology been fully absorbed: N.A.
(d) if not fully absorbed, areas where absorption has not taken place, and the reasons thereof: N.A.
(iv) the expenditure incurred on Research and Development - There is an innovation team and the yearly expenditure has been approximately
INR ____
(C) Foreign exchange earnings and Outgo:
12
The Company’s foreign exchange earnings and outgo for the financial year 2021-22 is as follows:
Earnings Amount (Lakhs)
Direct Sales Compensation 849
Income from engineering services 56,698
Revenue from contracts relating to building efficiency and refrigeration plants 3,000
Income from maintenance services 32
Income from business support services 996
Income from shared services 27,522
Total 89,097
Expenditure
Professional fees 183
Management fees 7,773
Royalty 2,229
IT charges 1,397
Repairs and maintenance – others 6
Subcontractor charges, external resource cost etc. 859
Travelling 488
Rates and Taxes 1,405
Others 417
Total 14,757
17. Corporate Social Responsibility (CSR)
The brief outline of the Corporate Social Responsibility (CSR) Policy of the Company and the initiatives undertaken by the Company on
CSR activities during the year are set out in Annexure – A of this report in the format prescribed in the Companies (Corporate Social
Responsibility Policy) Rules, 2014.
18. Directors & Key Managerial Person:
13
During the year, Mr. John Joseph Bashaw resigned from the directorship of the company w.e.f. 08th September 2021.
Further, post the end of the financial year, the management of the Company has undergone change and Mr. Shrikant Shrikrishna Bapat,
Managing Director w.e.f., 26th July, 2022 Mr. Mariappan Shyam Sundar, Director w.e.f. 26th August, 2022 and Mr. Parag Gupta, Company
Secretary have resigned from the Company w.e.f., 30 June 2022.
Further, Mr. Arun Awasthy has been appointed as the Managing Director of the Company w.e.f., 26th July 2022, Mr. Sivakumar Selva
Ganapathy and Mr. Murugesan Mottaiyan have been appointed as the Directors of the Company w.e.f., 11th August 2022 and Ms. Pratibha
Tare has been appointed as the Company Secretary w.e.f., 30th June 2022.
The Board place on record appreciation for the contribution made by them during their tenure as Directors of the company.
19. Number of meetings of the Board of Directors
14
During the year 8 board meetings were held details of which are as follows:
Date Place Directors present Director Absent
Shrikant Bapat
07/04/2021 Pune John Bashaw
Shyam Sunder
Shrikant Bapat
Shyam Sunder
Shrikant Bapat
Shyam Sunder
Shrikant Bapat
Shyam Sunder
Shrikant Bapat
08/10/2021 Pune Nil
Shyam Sunder
Shrikant Bapat
02/12/2021 Pune Nil
Shyam Sunder
Shrikant Bapat
07/02/2022 Pune Nil
Shyam Sunder
Shrikant Bapat
26/03/2022 Pune Nil
Shyam Sunder
20. Particulars of loans, guarantees or investments under Section 186:
There were no investments and guarantees made by the Company under Section 186 of the Companies Act, 2013 during the year under
review.
Loan made by the Company during the financial year under review are disclosed in the notes to the Financial Statements, and the same are
compliant with the provisions of section 186 of the Companies Act, 2013.
21. Particulars of Contracts or Arrangements with Related Parties:
The particulars of every contract or arrangements entered into by the Company with related parties referred to in sub-section (1) of section
188 of the Companies Act, 2013 on arm’s length basis under third proviso thereto is disclosed in Form No. AOC -2 attached as Annexure B.
22. The details of employees drawing remuneration as specified under Rule 5(2) of Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014:
With reference to the guidance note on Board’s report issued by ICSI in May 2019, the provisions of Rule 5(2) of Companies (Appointment
and Remuneration of Managerial Personnel) Rules, 2014 are not applicable to the Company.
23. Risk management policy
The Johnson Controls group has a risk management policy in place which covers all Johnson Controls entities including our Company. In
addition, our company have in strong internal controls in place to minimise the risk impact on the company.
24. Directors’ Responsibility Statement
It is hereby stated 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) the directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable
15
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 of the
company for that period;
(c) the directors have taken proper and sufficient care for 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) the directors have prepared the annual accounts on a going concern basis; and
(e) the directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were
adequate and operating effectively.
25. Prevention of Sexual Harassment at workplace:
Your Company has framed Policy as required under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and
Redressal)’ Act, 2013 and Rules framed thereunder. The Company has constituted Internal Complaints Committee (ICC) to redress
complaints received regarding sexual harassment. We have created a robust framework for this policy’s dissemination, awareness, training
and implementation within the Company.
The Company has not received any complaints till date on the aforesaid matter.
26. Secretarial Standards:
Your Company has complied with applicable secretarial standards issued by the Institute of Company Secretaries of India under during the
financial year under review.
27. Other Matters:
1. Details of application made or any proceeding pending under the Insolvency and Bankruptcy Code, 2016 during the year along with their
status as at the end of the financial year – Not Applicable
2. The details of difference between amount of the valuation done at the time of one-time settlement and the valuation done while taking loan
from the Banks or Financial Institutions along with the reasons thereof. – Not Applicable
28. Acknowledgements
An acknowledgement to all with whose help, cooperation and hard work the Company is able to achieve the results.
16
FOR AND ON BEHALF OF JOHNSON CONTROLS (INDIA) PRIVATE LIMITED
_______________ _______________ ______________ _____________

Arun Awasthy Murugesan Mottaiyan Sivakumar Selva Ganapathy Pratibha Tare
Managing Director Director Director Company Secretary
DIN: 01991681 DIN: 09701686 DIN: 09701630 Membership No. - A47350
Date: 21/10/2022 Date: 21/10/2022 Date: 21/10/2022 Date: 21/10/2022
Place: Gurgaon Place: Bangalore Place: Bangalore Place: Pune
Annexure – A
ANNUAL REPORT ON CORPORATE SOCIAL RESPONSIBILITY (CSR) ACTIVITIES FOR THE FINANCIAL YEAR 2021-22
1. Brief outline on CSR Policy of the Company:
The Company would like to support projects undertaken by different NGO’s for promoting education, including special education and
employment enhancing vocation skills especially among children, women, elderly and the differently abled and livelihood enhancement
projects. Also contributing to the funds established by Government of India for socio economic development and relief and welfare of the
schedule caste, tribes, other backward classes, minorities and women including prime minister’s national relief fund, Swach Bharat Kosh.
The Company is also contributing to public funded Universities; Indian Institute of Technology (IITs) which are engaged in engaged in
conducting research in science, technology, engineering and medicine aimed at promoting Sustainable Development Goals, also taking
various activities pursuant to Schedule VII of the Companies Act, 2013
2. The composition of the CSR committee:
Number of
Number of
Designation / meetings of CSR
meetings of CSR
Sl. No. Name of Director* Nature of Committee
Committee held
Directorship attended during
during the year
the year
Managing
01 Mr. Shrikant Shrikrishna Bapat
Director 1 1
Mr. Mariappan
02 Director 1 1
Shyam Sundar
3. The web-link where Composition of CSR committee, CSR Policy and CSR projects approved by the board are disclosed on the website of
the company:
The Company does not have a separate website and only has a group website. Hence, the CSR policy is not being displayed.
4. Provide the executive summary along with web-link(s) of Impact Assessment of CSR Projects carried out in pursuance of sub-rule (3) of
rule 8, if applicable.
Not Applicable to our Company.
5. (a) Average Net Profit of the Company as per section 135(5): INR 4,315 Lakhs /-
(b) Two percent of average net profit of the company as per section 135(5): INR 86.29 Lakhs/-
(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)): INR 86.29 Lakhs/-
6. (a) Amount spent on CSR Projects (both Ongoing Project and other than Ongoing Project)
Details of CSR amount spent against ongoing projects for the financial year: NIL
17
Details of CSR amount spent against other than ongoing projects for the financial year – INR 47 Lakhs
(b) Amount spent in Administrative Overheads: NIL
(c) Amount spent on Impact Assessment, if applicable: Not Applicable
(d) Total amount spent for the Financial Year (a+b+c): INR 47 Lakhs
18
(e) CSR amount spent or unspent for the Financial Year: INR 39 Lakhs (inadvertently Spent INR 45 Lakhs post Financial year on the
activities of Schedule VII of Companies Act, 2013)
Amount Unspent (in INR)
Total Amount
Total Amount transferred to Amount transferred to any fund specified
Spent for the
Unspent CSR Account as per under Schedule VII as per second proviso
Financial Year. (in
sub-section (6) of section 135. to sub-section (5) of section 135.
INR)
Date of Date of
Amount. Name of the Fund Amount.
transfer. transfer.
INR 92.01 Lakhs 0 N.A. N.A. 0 N.A.
(f) Excess amount for set off, if any
Sl.
Particular Amount (in INR)
No.
INR 86.29
(i) Two percent of average net profit of the company as per sub-section (5) of section 135
Lakhs
(ii) Total amount spent for the Financial Year INR 47 Lakhs
(iii) Excess amount spent for the financial year [(ii)-(i)] NIL
Surplus arising out of the CSR projects or programmes or activities of the previous financial years, if
(iv) NIL
any
(v) Amount available for set off in succeeding financial years [(iii)-(iv)] NIL
7. Details of Unspent CSR amount for the preceding three financial years:
Amount
Balance amount in Amount
Amount transferred Amount transferred to remaining to
unspent CSR spent in
Preceding to Unspent CSR any fund specified be spent in
Sl. Account under the Deficiency,
Financial Account under under Schedule VII as succeeding
No. sub-section (6) of Financial if any
Year. sub-section (6) of per sub-section (6) of financial
section 135 (in Year (in
section 135 (in INR) section 135, if any. years (in
INR) INR).
INR)
Date of
Amount (in Rs).
transfer.
1. 2019-20 Nil Nil Nil Nil Nil Nil Nil
19
INR
3. 2021-22 Nil Nil Nil Nil Nil Nil
39 Lakhs
Total
8. Whether any capital asset have been created or acquired through CSR amount spent in the financial year: No
If yes, enter the number of Capital assets created/ acquired: NIL
Furnish the details relating to such asset(s) so created or acquired through Corporate Social Responsibility amount spend in the Financial
Year:
Short particulars of the

property or asset(s) Pin code of the Amount of Details of entity / Authority /
Sl. Date of
property or CSR amount beneficiary of the registered
No. creation
[including complete address asset(s) spent owner
and location of the property]
(1) (2) (3) (4) (5) (6)
CSR Registration Number, if Registered

Name
applicable address
Not applicable
(All fields should be captured as appearing in the revenue record, flat no, house no, Municipal Office/ Municipal Corporation / Gram
panchayat are to be specified and also the area of the immovable property as well as boundaries)
9. Specify the reason(s), if the company has failed to spend two per cent of the average net profit as per section 135(5): The Company was
required to spend INR 86.29 Lakhs in the current year towards Corporate Social Responsibility under Section 135(5) of the Act. The
Company spent INR 47 Lakhs during the year and balance amount of INR 39 Lakhs remains unspent as at the year end. After year-end, the
Company has inadvertently spent the unspent amount of INR 39 Lakhs for an activity specified under Schedule VII for promoting healthcare
instead of depositing the amount to a Fund specified in Schedule VII. However, the Company is committed to its social responsibility and
endeavour to utilise the allocable CSR spend for the benefit of society.
_______________ _______________ ______________ _____________

Annexure – B
PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES
(Pursuant to provision of Section 134 (3) (m) read with Rule 8 of Companies (Accounts) Rules, 2014)
Form AOC – 2
20
Form for disclosure of particulars of contracts/arrangements entered into by the company with related parties referred to in sub-section (1) of
section 188 of the Companies Act, 2013 including certain arms-length transactions under third proviso thereto.
(INR in Lakhs)
Details of
Particulars
Transaction
1. Details of contracts or arrangements or transactions not at arm's length basis N.A.
a) Name(s) of the related party and nature of relationship
b) Nature of contracts/arrangements/transactions
c) Duration of the contracts / arrangements / transactions
d) Salient terms of the contracts or arrangements or transactions including the value, if any
e) Justification for entering into such contracts or arrangements or transactions
f) Date(s) of approval by the Board
g) Amount paid as advances, if any
h) Date on which the special resolution was passed in general meeting as required under first proviso to
section 188
2. Details of material contracts or arrangement or transactions at arm's length basis
Johnson Controls Inc., USA - The Intermediate Holding

A) Name(s) of the related party and nature of relationship
Company
1. Income from engineering services

2. Income from business support services
3. Income from shared service
4. Purchase of goods
Nature of contracts/arrangements/transactions
5. Management fees
6. IT Charges
7. Rates and Taxes
8. Reimbursement of Expenses (done on our behalf)
Duration of the contracts/arrangements/transactions Ongoing
1. Income from engineering services - INR 34,194

Lakhs
2. Income from business support services - INR 201
Lakhs
3. Income from shared service - INR 11,612 Lakhs
Salient terms of the contracts or arrangements or transactions 4. Purchase of Goods - INR 653 Lakhs
including the value, if any 5. Management Fees - INR 7,773 Lakhs
6. IT Charges - INR 1,244 Lakhs
21
7. Rates and Taxes - INR 1,405 Lakhs

8. Reimbursement of Expenses (done on our behalf) –
INR 1,136 Lakhs
Date(s) of approval by the Board, if any
Amount paid as advances, if any NA
York International Corporation, USA- Fellow

B) Name(s) of the related party and nature of relationship
subsidiaries
1. Income from engineering services

Nature of contracts/arrangements/transactions 2. Income from business support services
3. Purchase of goods
1. Income from engineering services – INR 1,005

Lakhs
Salient terms of the contracts or arrangements or transactions including
2. Income from business support services – INR
the value, if any
179 Lakhs
3. Purchase of goods – INR 165 Lakhs
Johnson Controls Building Efficiency Limited, UK- Fellow

C) Name(s) of the related party and nature of relationship
subsidiaries
Revenue from contracts relating to building efficiency and

refrigeration plants
Salient terms of the contracts or arrangements or Revenue from contracts relating to building efficiency and
transactions including the value, if any refrigeration plants – INR 177 Lakhs
22
Johnson Controls-Hitachi Air Conditioning India Limited- Fellow

D) Name(s) of the related party and nature of relationship
subsidiaries
1. Revenue from contracts relating to building efficiency and

2. Sale of products (chillers/compressor)
3. Purchase of Goods
1. Revenue from contracts relating to building efficiency and

Salient terms of the contracts or arrangements or refrigeration plants – INR 52 Lakhs
transactions including the value, if any 2. Sale of products (chillers/compressor) – INR 1,220 Lakhs
3. Purchase of Goods – INR 2,280 Lakhs
Tyco Fire and Security India Private Limited- Fellow

E) Name(s) of the related party and nature of relationship
subsidiaries
1. Income from business support services

Nature of contracts/arrangements/transactions 3. Re-payment of Short-term borrowings
4. Interest Expense
1. Income from business support services – INR 496

Lakhs
2. Income from shared service – INR 311 Lakhs
Salient terms of the contracts or arrangements or transactions 3. Re-payment of Short-term borrowings – INR 963
including the value, if any Lakhs
4. Interest Expense – INR 344 Lakhs
5. Reimbursement of Expenses (done on our behalf) –
INR 1,420 Lakhs
Johnson Controls International PLC- The Ultimate

F) Name(s) of the related party and nature of relationship
Holding Company
Nature of contracts/arrangements/transactions Income from shared service
23
Salient terms of the contracts or arrangements or transactions

Income from shared service – INR 6,279
including the value, if any
Johnson Controls International spol sro- Fellow

G) Name(s) of the related party and nature of relationship
Subsidiaries

Nature of contracts/arrangements/transactions 2. IT charges
1. Income from shared service – INR 2,156 Lakhs

Salient terms of the contracts or arrangements or transactions 2. IT charges – INR 32 Lakhs
including the value, if any 3. Reimbursement of Expenses (done on our behalf) –
INR 126 Lakhs
Johnson Controls HQ Holding BVBA- Fellow

H) Name(s) of the related party and nature of relationship
Subsidiaries
Nature of contracts/arrangements/transactions Income from shared service
Salient terms of the contracts or arrangements or transactions including

Income from shared service – INR 1,420 Lakhs
the value, if any
24
Johnson Controls (S) Pte Limited, Singapore-

I) Name(s) of the related party and nature of relationship
Fellow Subsidiaries
Nature of contracts/arrangements/transactions Direct sales compensation

Direct sales compensation – INR 842 Lakhs
J) Name(s) of the related party and nature of York (Shanghai) Air Conditioning and Refrigeration International
relationship Trading Company Limited- Fellow Subsidiaries
1. Direct sales compensation

Salient terms of the contracts or arrangements or 1. Direct sales compensation – INR 7 Lakhs
transactions including the value, if any 2. Purchase of Goods – INR 1,557 Lakhs
York Guangzhou Air Conditioning and Refrigeration Company

K) Name(s) of the related party and nature of relationship
Limited- Fellow Subsidiaries
2. Property, Plant and Equipment
Salient terms of the contracts or arrangements or 1. Purchase of Goods - INR 3,981 Lakhs
transactions including the value, if any 2. Property, Plant and Equipment – INR 89 Lakhs
25
York Wuxi Air Conditioning And Refrigeration Company

L) Name(s) of the related party and nature of relationship
Limited, China- Fellow Subsidiaries
Salient terms of the contracts or arrangements or 1. Purchase of Goods - INR 250 Lakhs
transactions including the value, if any 2. Property, Plant and Equipment – INR 15 Lakhs
Tyco Safety Products India Private Limited- Fellow

M) Name(s) of the related party and nature of relationship
Subsidiaries
3. Interest Income from Loan given
4. Repayment of loans given
1. Purchase of Goods – INR 2,092 Lakhs

2. Property, Plant and Equipment – INR 15 Lakhs
3. Interest Income from Loan given – INR 868
Lakhs
4. Repayment of loans given – INR 796
Qolsys Softwares India Private Limited - Fellow

N) Name(s) of the related party and nature of relationship
Subsidiaries
26
1. Short Term Borrowings

2. Interest Expenses
Salient terms of the contracts or arrangements or transactions including 1. Short Term Borrowings – INR 60 Lakhs
the value, if any 2. Interest Expenses – INR 7 Lakhs
Ruskin Titus India Private Limited- Fellow

O) Name(s) of the related party and nature of relationship
Subsidiaries
1. Interest income on loan given

Nature of contracts/arrangements/transactions 2. Loans and advances given
3. Loans renewed
1. Interest income on loan given – INR 94

Lakhs
Salient terms of the contracts or arrangements or transactions including the
2. Loans and advances given – INR 850 Lakhs
value, if any
3. Loans renewed – INR 1,500 Lakhs
Johnson Controls Holding Company Inc, USA- The

P) Name(s) of the related party and nature of relationship
Intermediate Holding Company
1. Interest on fully and compulsory convertible unsecured

debentures
2. Conversion of compulsory convertible debentures into
equity
1. Interest on fully and compulsory convertible unsecured

Salient terms of the contracts or arrangements or debentures – INR 2,681 Lakhs
transactions including the value, if any 2. Conversion of compulsory convertible debentures into
equity – INR 9,111 Lakhs
27
Johnson Controls International BV- Fellow

Q) Name(s) of the related party and nature of relationship
Subsidiary
Nature of contracts/arrangements/transactions IT Charges

IT Charges – INR 99 Lakhs
value, if any
Tyco Fire & Security Gmbh- Fellow

R) Name(s) of the related party and nature of relationship
Subsidiary
1. Income from shared services

2. Royalty
1. Income from shared services – INR 3,713

Lakhs
value, if any
2. Royalty – INR 2,229 Lakhs
Al Salem Air Conditioning Company Limited, UAE –

S) Name(s) of the related party and nature of relationship
Fellow Subsidiary
Nature of contracts/arrangements/transactions Income from Business support services
28

INR 183 Lakhs
Johnson Controls Air Conditioning and Refrigeration Inc.,

T) Name(s) of the related party and nature of relationship
Dubai – Fellow Subsidiary
Nature of contracts/arrangements/transactions Income from Business support services

INR 263 Lakhs
_______________ _______________ ______________ _____________

Description of state of companies affair

Brief description of the Company’s working during the year/State of Company’s affairs During the year, the Company continued its focus
more on better margins for its Systems and Service division along with the enhancement of revenue. Hence, both the business have
registeredgrowth in its revenues as compared to last year.
Details regarding energy conservation

Conservation of energy: (i) the steps taken or impact on conservation of energy; Your company has been consistently adopting the
technologies to conserve the energy and also helps its customer to conserve the energy and save cost associated with it.
29
Details regarding technology absorption

Technology absorption: (ii) the efforts made towards technology absorption: Company being mainly into technology sector has been
expanding its operation and research and development. (ii) the benefits derived like product improvement, cost reduction, product
development or import substitution: Company has been consistently using technology platforms for improving existing products and
innovate new products. (iii) in case of imported technology (imported during the last three years reckoned from the beginning of the financial
year)- (a) the details of technology imported: No ‘technology’ was imported per se. These are standard JCI products (sensors /controllers
etc.) available globally and were used to develop the solutions. (b) the year of import: N.A. (c) whether the technology been fully absorbed:
N.A. (d) if not fully absorbed, areas where absorption has not taken place, and the reasons thereof: N.A. (iv) the expenditure incurred on
Research and Development - There is an innovation team and the yearly expenditure has been approximately INR ____
Details regarding foreign exchange earnings and outgo

Foreign exchange earnings and Outgo: The Company’s foreign exchange earnings and outgo for the financial year 2021-22 is as follows:
Earnings Amount (Lakhs) Direct Sales Compensation 849 Income from engineering services 56,698 Revenue from contracts relating to
building efficiency and refrigeration plants 3,000 Income from maintenance services 32 Income from business support services 996 Income
from shared services 27,522 Total 89,097 Expenditure Professional fees 183 Management fees 7,773 Royalty 2,229 IT charges 1,397 Repairs
and maintenance – others 6 Subcontractor charges, external resource cost etc. 859 Travelling 488 Rates and Taxes 1,405 Others 417 Total
14,757
Disclosures in director’s responsibility statement

Directors’ Responsibility Statement It is hereby stated 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) the directors 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 of the company for that period; (c) the directors have taken
proper and sufficient care for 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) the directors have prepared the annual accounts
on a going concern basis; and (e) the directors have devised proper systems to ensure compliance with the provisions of all applicable laws
and that such systems were adequate and operating effectively.
Details of material changes and commitment occurred during period affecting financial position of company
Material changes and commitments, if any, affecting the financial position of the Company which have occurred between the end of the
financial year of the Company to which the financial statements relate and the date of the report There have not been any changes in the
nature of business of the Company, and no such event has been reported after the close of financial year which will have the material impact
on the financial position of the company.
Particulars of loans guarantee investment under section 186 [Text Block]

Particulars of loans, guarantees or investments under Section 186:
There were no investments and guarantees made by the Company under Section 186 of the Companies Act, 2013 during the year under
review.
Loan made by the Company during the financial year under review are disclosed in the notes to the Financial Statements, and the same are
compliant with the provisions of section 186 of the Companies Act, 2013.
30
Particulars of contracts/arrangements with related parties under section 188(1) [Text Block]
Particulars of Contracts or Arrangements with Related Parties:
The particulars of every contract or arrangements entered into by the Company with related parties referred to in sub-section (1) of section
188 of the Companies Act, 2013 on arm’s length basis under third proviso thereto is disclosed in Form No. AOC -2 attached as Annexure B.
Disclosure for companies covered under section 178(1) on directors appointment and remuneration including
other matters provided under section 178(3) [Text Block]
Company’s Policy relating to Directors’ appointment, payment of remuneration and discharge of their duties:
The provisions of section 178(1) relating to constitution of Nomination and Remuneration are not applicable to the Company and hence the
Company has not devised any policy relating to appointment of Directors, payment of Managerial Remuneration, Director’s qualifications,
positive attributes, independence of Directors and related matters as provided under section 178(3) of the Act.
Disclosure of statement on development and implementation of risk management policy [Text Block]
Risk management policy
The Johnson Controls group has a risk management policy in place which covers all Johnson Controls entities including our Company. In
addition, our company have in strong internal controls in place to minimise the risk impact on the company.
Details on policy development and implementation by company on corporate social responsibility initiatives taken
during year [Text Block]
Corporate Social Responsibility (CSR)
The brief outline of the Corporate Social Responsibility (CSR) Policy of the Company and the initiatives undertaken by the Company on
CSR activities during the year are set out in Annexure – A of this report in the format prescribed in the Companies (Corporate Social
Responsibility Policy) Rules, 2014.
31
Disclosure of financial summary or highlights [Text Block]

Financial summary or highlights/Performance of the Company
PARTICULARS 2021-22 2020-21
Amt in Lakhs (INR) Amt in Lakhs (INR)
Revenue from operations 1,55,220 1,03,751
Total revenue 1,57,009 1,05,266
Profit before exceptional items, prior period item and tax 19,069 4,865
Prior period expense - -
Exceptional income/expense - -
Deferred tax charge / (credit) (399) (686)
Provision for tax for earlier years (written back) / provided (254) 603
Profit for the year 14,120 2,906
During the Financial year under review, the total revenue of the company increased from INR 1,03,751 Lakhs in FY 2020-21 to INR
1,55,220 Lakhs in FY 2021-22 and the profit has been increased from INR 2,906 Lakhs in FY 2020-21 to INR 14,120 Lakhs to FY 2021-22.
32
Details of directors or key managerial personnels who were appointed or have resigned during year [Text Block]
Directors & Key Managerial Person:
During the year, Mr. John Joseph Bashaw resigned from the directorship of the company w.e.f. 08th September 2021.
Further, post the end of the financial year, the management of the Company has undergone change and Mr. Shrikant Shrikrishna Bapat,
Managing Director w.e.f., 26th July, 2022 Mr. Mariappan Shyam Sundar, Director w.e.f. 26th August, 2022 and Mr. Parag Gupta, Company
Secretary have resigned from the Company w.e.f., 30 June 2022.
Further, Mr. Arun Awasthy has been appointed as the Managing Director of the Company w.e.f., 26th July 2022, Mr. Sivakumar Selva
Ganapathy and Mr. Murugesan Mottaiyan have been appointed as the Directors of the Company w.e.f., 11th August 2022 and Ms. Pratibha
Tare has been appointed as the Company Secretary w.e.f., 30th June 2022.
The Board place on record appreciation for the contribution made by them during their tenure as Directors of the company.
Details relating to deposits covered under chapter v of companies act [Text Block]
Deposits
Your company has not accepted any deposits from the public during the year under review within the meaning of Chapter V of the
Companies Act, 2013.
Details of significant and material orders passed by regulators or courts or tribunals impacting going concern
status and company’s operations in future [Text Block]
Details of significant and material orders passed by the regulators or courts or tribunals impacting the going concern status and company’s
operations in future
There were no orders passed by the regulators or courts or tribunal impacting the going concern status and Company’s operations in future.
Details regarding adequacy of internal financial controls with reference to financial statements [Text Block]
Details in respect of adequacy of internal financial controls with reference to the financial statements:
The Company has adequate internal financial controls considering size and business operation.
Disclosure of appointment and remuneration of managerial personnels [Text Block]

The details of employees drawing remuneration as specified under Rule 5(2) of Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014:
With reference to the guidance note on Board’s report issued by ICSI in May 2019, the provisions of Rule 5(2) of Companies (Appointment
and Remuneration of Managerial Personnel) Rules, 2014 are not applicable to the Company.
Disclosure of composition of audit committee and non-acceptance of any recommendation of audit committee
along with reasons [Text Block]
Disclosure of composition of Audit Committee and providing Vigil Mechanism:
The provision of section 177 of the Act read with Rule 6 and 7 of the Companies (Meetings of the Board and its Powers) Rules, 2014 are not
33
[400200] Disclosures - Auditors report
Details regarding auditors [Table] ..(1)

Auditors [Axis] 1
01/04/2021
to
31/03/2022
Details regarding auditors [Abstract]
Details regarding auditors [LineItems]
Category of auditor Auditors firm
Price Waterhouse &
Name of audit firm Co Chartered
Accountants LLP
SACHIN
Name of auditor signing report RAJNIKANT
PAREKH
Firms registration number of audit firm 304026E/E-300009
Membership number of auditor 107038
7th Floor, Tower
A-Wing1, Business
Address of auditors Bay, Airport Road
Yerwada
Permanent account number of auditor or auditor's firm AAHFP0187A
SRN of form ADT-1 T53085494
Date of signing audit report by auditors 21/10/2022
Date of signing of balance sheet by auditors 21/10/2022
34
Disclosure of auditor's qualification(s), reservation(s) or adverse remark(s) in auditors' report [Table] ..(1)
Auditor's Clause not
Auditor's qualification(s), reservation(s) or adverse remark(s) in auditors' report [Axis] favourable remark applicable
[Member] [Member]
01/04/2021 01/04/2021
to to
31/03/2022 31/03/2022
Disclosure of auditor's qualification(s), reservation(s) or adverse remark(s) in
auditors' report [Abstract]
Disclosure of auditor's qualification(s), reservation(s) or adverse remark(s) in
auditors' report [LineItems]
Textual information
Disclosure in auditors report relating to fixed assets (27) [See below]
Textual information
Disclosure in auditors report relating to inventories (28) [See below]
Textual information
Disclosure in auditors report relating to loans (29) [See below]
Disclosure in auditors report relating to compliance with Section 185 and 186 of Textual information
Companies Act, 2013 (30) [See below]
Textual information
Disclosure in auditors report relating to deposits accepted (31) [See below]
vi. The Central
Government of
India has not
specified the
maintenance of cost
Disclosure in auditors report relating to maintenance of cost records records under sub
section (1) of
Section 148 of the
Act for any of the
products of the
Company.
Textual information
Disclosure in auditors report relating to statutory dues [TextBlock] (32) [See below]
Textual information
Disclosure in auditors report relating to default in repayment of financial dues (33) [See below]
Disclosure in auditors report relating to public offer and term loans used for Textual information
purpose for which those were raised (34) [See below]
Disclosure in auditors report relating to fraud by the company or on the Textual information
company by its officers or its employees reported during period (35) [See below]
Disclosure in auditors report relating to managerial remuneration -
xii. As the
Company is not a
Nidhi Company and
the Nidhi Rules,
2014 are not
Disclosure in auditors report relating to Nidhi Company applicable to it, the
reporting under
clause 3(xii) of the
Order is not
applicable to the
Company.
Textual information
Disclosure in auditors report relating to transactions with related parties (36) [See below]
Disclosure in auditors report relating to preferential allotment or private
-
placement of shares or convertible debentures
Disclosure in auditors report relating to non-cash transactions with directors Textual information
or persons connected with him (37) [See below]
Disclosure in auditors report relating to registration under section 45-IA of Textual information
Reserve Bank of India Act, 1934 (38) [See below]

01/04/2021
to
31/03/2022
Disclosure in auditor’s report explanatory [TextBlock] [See below]
Whether companies auditors report order is applicable on company Yes
Whether auditors' report has been qualified or has any reservations or
Yes
contains adverse remarks
Auditor's qualification(s), reservation(s) or adverse remark(s) in Textual information (40)
auditors' report [See below]
35
Disclosure in auditors report relating to fixed assets

i. (a) (A) Except for certain Property, Plant and Equipment with gross block and net block aggregating to Rs. 1,551 lakhs and Rs. Nil,
respectively, the Company is maintaining proper records showing full particulars, including quantitative details and situation, of Property,
Plant and Equipment. (B) The Company is maintaining proper records showing full particulars of Intangible Assets. (b) The Property, Plant
and Equipment of the Company have not been physically verified by the Management during the year. Accordingly, the discrepancies, if any,
could not be ascertained and therefore, we are unable to comment on whether the discrepancies, if any, have been properly dealt with in the
books of account. (c) According to the information and explanations given to us and the records of the Company examined by us, the
Company does not own any immovable properties (Refer Note 10A to the financial statements). Therefore, the provisions of clause 3(i)(c) of
the Order are not applicable to the Company. (d) The Company has chosen cost model for its Property, Plant and Equipment and Intangible
Assets. Consequently, the question of our commenting on whether the revaluation is based on the valuation by a Registered Valuer, or
specifying the amount of change, if the change is 10% or more in the aggregate of the net carrying value of each class of Property, Plant and
Equipment or Intangible Assets does not arise. (d) Based on the information and explanations furnished to us, no proceedings have been
initiated on or are pending against the Company for holding benami property under the Prohibition of Benami Property Transactions Act,
1988 (as amended in 2016) (formerly the Benami Transactions (Prohibition) Act, 1988 (45 of 1988)) and Rules made thereunder, and
therefore, the question of our commenting on whether the Company has appropriately disclosed the details in its financial statements does not
arise.
Disclosure in auditors report relating to inventories

ii. (a) The physical verification of inventory (excluding goods in transit) has been conducted at reasonable intervals by the Management
during the year and, in our opinion, the coverage and procedure of such verification by Management is appropriate. The discrepancies
noticed on physical verification of inventory as compared to book records were not 10% or more in aggregate for each class of inventory. (b)
During the year, the Company has not been sanctioned working capital limits in excess of Rs. 5 crores, in aggregate from banks and financial
institutions on the basis of security of current assets and accordingly, the question of our commenting on whether the quarterly returns or
statements are in agreement with the unaudited books of account of the Company does not arise.
Disclosure in auditors report relating to loans

iii. (a) The Company has granted unsecured loans to two companies. The aggregate amount during the year and balance outstanding as at the
balance sheet date with respect to such loans are as per the table given below. Further, the Company has not made any investments in nor
granted any secured/unsecured loans/advances in nature of loans, or stood guarantee, or provided security to firms, Limited Liability
Partnerships, or other parties during the year. The Company does not have any subsidiary, joint venture and associate. (Rs. in Lakhs)
Guarantees Security Loans Advances in nature of loans Aggregate amount granted/ provided during the year - Others - - 15,085 - Balance
outstanding as at balance sheet date in respect of the above case - Others - - 13,354 - (Also refer Note 17 to the financial statements) (b) In
respect of the aforesaid loans, the terms and conditions under which such loans were granted are not prejudicial to the Company’s interest.
(c) In respect of the aforesaid loans to a company, the schedule of repayment of principal is not stipulated but the amount is repayable on
demand and the schedule for payment of interest has been stipulated. As per the information and explanation provided to us, the principal
amounts have been repaid to the extent demanded by the Company during the year. In respect of loans to the other company, the schedule of
repayment of principal and payment of interest has been stipulated, however, the loans have been renewed on due dates as agreed between
the parties. Further, the parties are regular in payment of interest during the year. (d) In respect of the aforesaid loans, there is no amount
which is overdue for more than ninety days. (e) The following loans were granted to same party, which has fallen due during the year and
were renewed. Further, no fresh loans were granted to same parties to settle the existing overdue loans. (Rs. in Lakhs) Name of the party
Aggregate amount dues renewed (Rs. in lakhs) Percentage of the aggregate to the total loans granted during the year Ruskin Titus India
Private Limited 1,500 9.94% (f) The following loans were granted during the year, including to related parties under Section 2(76) of the Act,
which are repayable on demand or where no schedule for repayment of principal has been stipulated by the Company. (Rs. in Lakhs) All
Parties Promoters Related Parties Aggregate of loans - Repayable on demand 14,235 - 14,235 - Agreement does not specify any terms or
period of repayment - - - Percentage of loans to the total loans 94.37% - 94.37% (Also refer Note 17 to the financial statements)
Disclosure in auditors report relating to compliance with Section 185 and 186 of Companies Act, 2013
iv. In our opinion, and according to the information and explanations given to us, the Company has complied with the provisions of Section
186 of the Act in respect of the loans or investments made or guarantees or security provided by it. The Company has not granted any loans
or provided any guarantees or security to the parties covered under Section 185 of the Act.
36
Disclosure in auditors report relating to deposits accepted

v. The Company has not accepted any deposits or amounts which are deemed to be deposits within the meaning of Sections 73, 74, 75 and 76
of the Act and the Rules framed there under to the extent notified.
Disclosure in auditors report relating to statutory dues [Text Block]

vii. (a) According to the information and explanations given to us and the records of the Company examined by us, in our opinion, the
Company is generally regular in depositing undisputed statutory dues in respect of income tax though there has been a slight delay in a few
cases and is regular in depositing undisputed statutory dues, including goods and services tax, provident fund, employees’ state insurance,
sales tax, service tax, duty of customs, duty of excise, value added tax, cess and other material statutory dues, as applicable, with the
appropriate authorities. Also, refer Note 28(a)(B) to the financial statements regarding management's assessment on certain matters relating
to provident fund.
(b) According to the information and explanations given to us and the records of the Company examined by us, the particulars of statutory
dues referred to in sub-clause (a) as at March 31, 2022 which have not been deposited on account of a dispute, are as follows:
Amount Period to which the Forum where

Nature of
Name of the Statute (Rs. in amount relates dispute is
dues
lakhs)* (Financial Year) pending
Appellate
Central 1998-1999 and Authority - up to
The Central Sales Tax Act, 1956 5
Sales Tax 2015-16 Commissioner's
level
2001-2002, 2004-05, Appellate

Value added tax/ Sales tax Acts applicable in respective Sales Tax
2005-06, 2014-15, Authority - up to
States (West Bengal, Uttar Pradesh, Andhra Pradesh, Delhi, and Value 72
2016-2017 and Commissioner's
Haryana, Orrisa, Tamil Nadu, Telangana and Haryana) added tax
2017-18 level
Excise 1999-2000, 2000-01 The Supreme

The Central Excise Act, 1944 5
duty and 2001-02 Court of India
Customs Commissioner
The Customs Act, 1962 103 2011-12 to 2013-14
duty (Appeals)
Goods and Additional

The Odisha Goods and Services Tax Act, 2017 Services 23 2018-19 Commissioner,
Tax CT & GST
Income Appellate
The Income Tax Act, 1961 2,311 2017-18
Tax Authority-ITAT
* net of payment under protest
37
Disclosure in auditors report relating to default in repayment of financial dues

ix. (a) According to the records of the Company examined by us and the information and explanation given to us, the Company has not
defaulted in repayment of loans or other borrowings or in the payment of interest to any lender during the year. (b) According to the
information and explanations given to us and on the basis of our audit procedures, we report that the Company has not been declared Wilful
Defaulter by any bank or financial institution or government or any government authority. (c) According to the records of the Company
examined by us and the information and explanations given to us, the Company has not obtained any term loans. (d) According to the
information and explanations given to us, and the procedures performed by us, and on an overall examination of the financial statements of
the Company, we report that no funds raised on short-term basis have been used for long-term purposes by the Company. (e) According to
the information and explanations given to us and procedure performed by us, we report that the Company did not have any subsidiary, joint
venture or associate during the year. Accordingly, the reporting under clause 3(ix)(e) and clause 3(ix)(f) of the Order is not applicable.
Disclosure in auditors report relating to public offer and term loans used for purpose for which those were raised
x. (a) The Company has not raised any money by way of initial public offer or further public offer (including debt instruments) during the
year. Accordingly, the reporting under clause 3(x)(a) of the Order is not applicable to the Company. (b) The Company has not made any
preferential allotment or private placement of shares or fully or partially or optionally convertible debentures during the year. Accordingly,
the reporting under clause 3(x)(b) of the Order is not applicable to the Company.
Disclosure in auditors report relating to fraud by the company or on the company by its officers or its employees
reported during period
xi. (a) During the course of our examination of the books and records of the Company, carried out in accordance with the generally accepted
auditing practices in India, and according to the information and explanations given to us, we have neither come across any instance of
material fraud by the Company or on the Company, noticed or reported during the year, nor have we been informed of any such case by the
Management. (b) During the course of our examination of the books and records of the Company, carried out in accordance with the
generally accepted auditing practices in India, and according to the information and explanations given to us, a report under Section 143(12)
of the Act, in Form ADT-4, as prescribed under Rule 13 of Companies (Audit and Auditors) Rules, 2014 was not required to be filed with the
Central Government. Accordingly, the reporting under clause 3(xi)(b) of the Order is not applicable to the Company. (c) During the course of
our examination of the books and records of the Company carried out in accordance with the generally accepted auditing practices in India,
and according to the information and explanations given to us, the Company has received whistle-blower complaints during the year, which
have been considered by us for any bearing on our audit and reporting under this clause.
Disclosure in auditors report relating to transactions with related parties

xiii. The Company has entered into transactions with related parties in compliance with the provisions of Section 188 of the Act. The details
of related party transactions have been disclosed in the financial statements as required under Accounting Standard 18 “Related Party
Disclosures” specified under Section 133 of the Act. Further, the Company is not required to constitute an Audit Committee under Section
177 of the Act and, accordingly, to this extent, the reporting under clause 3(xiii) of the Order is not applicable to the Company.
Disclosure in auditors report relating to non-cash transactions with directors or persons connected with him
xv. The Company has not entered into any non-cash transactions with its directors or persons connected with him. Accordingly, the reporting
on compliance with the provisions of Section 192 of the Act under clause 3(xv) of the Order is not applicable to the Company.
38
Disclosure in auditors report relating to registration under section 45-IA of Reserve Bank of India Act, 1934
xvi. (a) The Company is not required to be registered under Section 45-IA of the Reserve Bank of India Act, 1934. Accordingly, the
reporting under clause 3(xvi)(a) of the Order is not applicable to the Company. (b) The Company has not conducted non-banking financial /
housing finance activities during the year. Accordingly, the reporting under clause 3(xvi)(b) of the Order is not applicable to the Company.
(c) The Company is not a Core Investment Company (CIC) as defined in the regulations made by the Reserve Bank of India. Accordingly,
the reporting under clause 3(xvi)(c) of the Order is not applicable to the Company. (d) Based on the information and explanations provided
by the management of the Company, the Group does not have any CICs, which are part of the Group. We have not, however, separately
evaluated whether the information provided by the management is accurate and complete. Accordingly, the reporting under clause 3(xvi)(d)
of the Order is not applicable to the Company.
39
Disclosure in auditor’s report explanatory [Text Block]

Independent Auditor’s Report
To the Members of Johnson Controls (India) Private Limited
Report on the audit of the financial statements
Qualified Opinion
1. We have audited the accompanying financial statements of Johnson Controls (India) Private Limited (“the Company”), which comprise the
Balance Sheet as at March 31, 2022, the Statement of Profit and Loss, the Cash Flow Statement for the year then ended, and notes to the
financial statements, including a summary of significant accounting policies and other explanatory information.
2. In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give the
information required by the Companies Act, 2013 (“the Act") in the manner so required and except for the indeterminate effects of the matter
described in the Basis for Qualified Opinion section of our report, give a true and fair view in conformity with the accounting principles
generally accepted in India, of the state of affairs of the Company as at March 31, 2022, its profit and cash flows for the year then ended.
Basis for Qualified Opinion
3. We draw your attention to Note 39 to the financial statements regarding non-settlement of foreign currency payables aggregating to Rs.
141 lakhs as at March 31, 2022 due for more than three years from the date of import of goods and services. This is not in compliance with
the RBI Master Direction – Import of Goods and Services No. 17/2016-17 dated January 1, 2016 (as amended). Any penalties that may be
levied by Reserve Bank of India and impact (if any) on the financial statements in this regard are presently not ascertainable.
4. We conducted our audit in accordance with the Standards on Auditing (SAs) specified under Section 143(10) of the Act. Our
responsibilities under those Standards are further described in the “Auditor’s responsibilities for the audit of the financial statements” section
of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of
India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the
Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We
believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.
Emphasis of Matter
5. We draw your attention to Note 44 to the financial statements with regards to non-compliance with Section 297 of the Companies Act,
1956 by Johnson Controls Marine and Refrigeration India Limited ("JCMRIL") which was amalgamated with Company w.e.f. appointed date
of April 1, 2017 pursuant to the Scheme of the amalgamation approved by National Company Law Tribunal vide its order dated July 24,
2018. Prior to April 1, 2014, JCMRIL had entered into transactions of purchase of goods and services received and sale of goods and services
rendered with the Company in which a Director of JCMRIL was interested as a Director. JCMRIL had not obtained the prior approval from
the Central Government of India as required under Section 297 of the Companies Act, 1956 for transactions of purchase of goods and
services received aggregating to Rs. 2,849 lakhs and sale of goods and services rendered aggregating to Rs. 714 lakhs. The Company has
filed for the compounding application with regards to non-compliance with Section 297 of the Companies Act, 1956 by Johnson Controls
Marine and Refrigeration India Limited ("JCMRIL"). Our opinion is not modified in respect of this matter.
Other Information
6. The Company’s Board of Directors is responsible for the other information. The other information comprises the information included in
the Directors’ Report, but does not include the financial statements and our auditor’s report thereon.
Our qualified opinion on the financial statements does not cover the other information and we do not express any form of assurance
conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether
the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to
be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information,
we are required to report that fact. We have nothing to report in this regard.
Responsibilities of management and those charged with governance for the financial statements
7. The Company’s Board of Directors is responsible for the matters stated in Section 134(5) of the Act with respect to the preparation of
these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in
accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under Section 133 of the
Act. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for
safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of
appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and
maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the
accounting records relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from
material misstatement, whether due to fraud or error.
8. In preparing the financial statements, management is responsible for assessing the Company’s ability to continue as a going concern,
40
disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends
to liquidate the Company or to cease operations, or has no realistic alternative but to do so. Those Board of Directors are also responsible for
overseeing the Company’s financial reporting process.
Auditor’s responsibilities for the audit of the financial statements
9. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement,
whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but
is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements
can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence
the economic decisions of users taken on the basis of these financial statements.
10. As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit.
We also:
- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit
procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk
of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion,
forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the
circumstances. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Company has adequate
internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by
management.
- Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained,
whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a
going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related
disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit
evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company to cease to continue as
a going concern.
- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial
statements represent the underlying transactions and events in a manner that achieves fair presentation.
11. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and
significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Report on other legal and regulatory requirements
12. As required by the Companies (Auditor’s Report) Order, 2020 (“the Order”), issued by the Central Government of India in terms of
sub-section (11) of Section 143 of the Act, we give in the “Annexure B” a statement on the matters specified in paragraphs 3 and 4 of the
Order, to the extent applicable.
13. As required by Section 143(3) of the Act, we report that:
(a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the
purposes of our audit.
(b) In our opinion, except for the indeterminate impact of the matter referred to in the Basis for Qualified Opinion section of our report and
that the backup of the books of account and other books and papers maintained in electronic mode has not been maintained on servers
physically located in India, proper books of account as required by law have been kept by the Company so far as it appears from our
examination of those books. (Refer Notes 39 and 42 to the financial statements).
(c) The Balance Sheet, the Statement of Profit and Loss and the Cash Flow Statement dealt with by this Report are in agreement with the
books of account.
(d) In our opinion, the aforesaid financial statements comply with the Accounting Standards specified under Section 133 of the Act.
(e) With respect to the maintenance of accounts and other matters connected therewith, reference is made to our comment in paragraph 13(b)
above.
(f) On the basis of the written representations received from the directors as on March 31, 2022, taken on record by the Board of Directors,
none of the directors is disqualified as on March 31, 2022, from being appointed as a director in terms of Section 164(2) of the Act.
(g) With respect to the adequacy of the internal financial controls with reference to financial statements of the Company and the operating
effectiveness of such controls, refer to our separate Report in “Annexure A”.
(h) With respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of the Companies (Audit and
Auditors) Rules, 2014 (as amended), in our opinion and to the best of our information and according to the explanations given to us:
41
i. The Company has disclosed the impact of pending litigations on its financial position in its financial statements – Refer Note 28(a) and 37
to the financial statements;
ii. The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses.
iii. There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company during the
year ended March 31, 2022.
iv. (a) The management has represented that, to the best of its knowledge and belief, no funds have been advanced or loaned or invested
(either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other person or entity,
including foreign entities (“Intermediaries”), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall,
whether, directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company
(“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries (Refer Note 45 to the
financial statements);
(b) The management has represented that, to the best of its knowledge and belief, no funds have been received by the Company from any
person or entity, including foreign entities (“Funding Parties”), with the understanding, whether recorded in writing or otherwise, that the
Company shall, whether, directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever by or on behalf
of the Funding Party (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries (Refer
Note 45 to the financial statements); and
(c) Based on such audit procedures that we considered reasonable and appropriate in the circumstances, nothing has come to our notice that
has caused us to believe that the representations under sub-clause (a) and (b) contain any material misstatement.
v. The Company has not declared or paid any dividend during the year.
14. The provisions of Section 197 read with Schedule V to the Act are applicable only to public companies. Accordingly, reporting under
Section 197(16) of the Act is not applicable to the Company.
For Price Waterhouse & Co Chartered Accountants LLP

Firm Registration Number: 304026E/E-300009
Sachin Parekh
Partner
Membership Number: 107038
UDIN: 22107038BANOII3649
Place: Mumbai
Date: October 21, 2022
Annexure A to Independent Auditor’s Report
Referred to in paragraph 13(g) of the Independent Auditor’s Report of even date to the members of
Johnson Controls (India) Private Limited on the financial statements for the year ended March 31, 2022
Report on the Internal Financial Controls with reference to financial statements under clause (i) of sub-section 3 of Section 143 of the Act
1. We have audited the internal financial controls with reference to financial statements of Johnson Controls (India) Private Limited (“the
Company”) as of March 31, 2022 in conjunction with our audit of the financial statements of the Company for the year ended on that date.
Management’s responsibility for Internal Financial Controls
2. The Company’s management is responsible for establishing and maintaining internal financial controls based on the internal control over
financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note
on Audit of Internal Financial Controls Over Financial Reporting (“the Guidance Note”) issued by the Institute of Chartered Accountants of
India (“ICAI”). These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were
operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to company’s policies, the
safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the
timely preparation of reliable financial information, as required under the Act.
Auditor’s responsibility
3. Our responsibility is to express an opinion on the Company's internal financial controls with reference to financial statements based on our
audit. We conducted our audit in accordance with the Guidance Note and the Standards on Auditing deemed to be prescribed under Section
143(10) of the Act to the extent applicable to an audit of internal financial controls, both applicable to an audit of internal financial controls
and both issued by the ICAI. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform
the audit to obtain reasonable assurance about whether adequate internal financial controls with reference to financial statements was
established and maintained and if such controls operated effectively in all material respects.
4. Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system with
reference to financial statements and their operating effectiveness. Our audit of internal financial controls with reference to financial
statements included obtaining an understanding of internal financial controls with reference to financial statements, assessing the risk that a
42
material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The
procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error.
5. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified audit opinion on the
Company’s internal financial controls system with reference to financial statements.
Meaning of Internal Financial Controls with reference to financial statements
6. A company's internal financial controls with reference to financial statements is a process designed to provide reasonable assurance
regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally
accepted accounting principles. A company's internal financial controls with reference to financial statements includes those policies and
procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and
dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation
of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are
being made only in accordance with authorisations of management and directors of the company; and (3) provide reasonable assurance
regarding prevention or timely detection of unauthorised acquisition, use, or disposition of the company's assets that could have a material
effect on the financial statements.
Inherent Limitations of Internal Financial Controls with reference to financial statements
7. Because of the inherent limitations of internal financial controls with reference to financial statements, including the possibility of
collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also,
projections of any evaluation of the internal financial controls with reference to financial statements to future periods are subject to the risk
that the internal financial controls with reference to financial statements may become inadequate because of changes in conditions, or that the
degree of compliance with the policies or procedures may deteriorate.
Basis for Qualified Opinion
8. According to the information and explanations given to us and based on our audit, material weakness has been identified in the operating
effectiveness of the Company’s internal financial controls with reference to financial statements as at March 31, 2022 as the Company’s
internal financial controls over compliance with laws and regulations were not operating effectively which has resulted in non-compliance
with the requirements of RBI Master Direction – Import of Goods and Services No. 17/2016-17 dated January 1, 2016 (as amended) with
respect to settlement of foreign currency payables due for more than three years from the date of import of goods and services. Any penalties
that may be levied by Reserve Bank of India and impact (if any) to the financial statements in this regard are presently not ascertainable
(Also refer paragraph 3 of our main audit report).
9. A ‘material weakness’ is a deficiency, or a combination of deficiencies, in internal financial control over financial reporting, such that
there is a reasonable possibility that a material misstatement of the company's annual or interim financial statements will not be prevented or
detected on a timely basis.
Qualified Opinion
10. In our opinion, the Company has, in all material respects, maintained adequate internal financial controls with reference to financial
statements as of March 31, 2022, based on the internal control over financial reporting criteria established by the Company considering the
essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued
by the ICAI, and except for the possible effects of the material weakness described in the ‘Basis for Qualified Opinion’ paragraph above on
the achievement of the objectives of the control criteria, the Company’s internal financial controls with reference to financial statements were
operating effectively as of March 31, 2022.
11. We have considered the material weakness identified and reported above in determining the nature, timing, and extent of audit tests
applied in our audit of the financial statements of the Company for the year ended March 31, 2022, and the material weakness has affected
our opinion on the financial statements of the Company for the year ended on that date and we have issued a qualified opinion on the
financial statements (Refer paragraph 3 of our main audit report).

Sachin Parekh
Partner
Place: Mumbai
Annexure B to Independent Auditor’s Report
Referred to in paragraph 12 of the Independent Auditor’s Report of even date to the members of Johnson Controls (India) Private Limited on
the financial statements as of and for the year ended March 31, 2022
i. (a) (A) Except for certain Property, Plant and Equipment with gross block and net block aggregating to Rs. 1,551 lakhs and Rs. Nil,
43
respectively, the Company is maintaining proper records showing full particulars, including quantitative details and situation, of Property,
Plant and Equipment.
(B) The Company is maintaining proper records showing full particulars of Intangible Assets.
(b) The Property, Plant and Equipment of the Company have not been physically verified by the Management during the year. Accordingly,
the discrepancies, if any, could not be ascertained and therefore, we are unable to comment on whether the discrepancies, if any, have been
properly dealt with in the books of account.
(c) According to the information and explanations given to us and the records of the Company examined by us, the Company does not own
any immovable properties (Refer Note 10A to the financial statements). Therefore, the provisions of clause 3(i)(c) of the Order are not
(d) The Company has chosen cost model for its Property, Plant and Equipment and Intangible Assets. Consequently, the question of our
commenting on whether the revaluation is based on the valuation by a Registered Valuer, or specifying the amount of change, if the change is
10% or more in the aggregate of the net carrying value of each class of Property, Plant and Equipment or Intangible Assets does not arise.
(d) Based on the information and explanations furnished to us, no proceedings have been initiated on or are pending against the Company for
holding benami property under the Prohibition of Benami Property Transactions Act, 1988 (as amended in 2016) (formerly the Benami
Transactions (Prohibition) Act, 1988 (45 of 1988)) and Rules made thereunder, and therefore, the question of our commenting on whether the
Company has appropriately disclosed the details in its financial statements does not arise.
ii. (a) The physical verification of inventory (excluding goods in transit) has been conducted at reasonable intervals by the Management
during the year and, in our opinion, the coverage and procedure of such verification by Management is appropriate. The discrepancies
noticed on physical verification of inventory as compared to book records were not 10% or more in aggregate for each class of inventory.
(b) During the year, the Company has not been sanctioned working capital limits in excess of Rs. 5 crores, in aggregate from banks and
financial institutions on the basis of security of current assets and accordingly, the question of our commenting on whether the quarterly
returns or statements are in agreement with the unaudited books of account of the Company does not arise.
iii. (a) The Company has granted unsecured loans to two companies. The aggregate amount during the year and balance outstanding as at the
balance sheet date with respect to such loans are as per the table given below. Further, the Company has not made any investments in nor
44
granted any secured/unsecured loans/advances in nature of loans, or stood guarantee, or provided security to firms, Limited Liability
Partnerships, or other parties during the year. The Company does not have any subsidiary, joint venture and associate.
(Rs. in Lakhs)
Advances in nature of
Guarantees Security Loans
loans
Aggregate amount granted/ provided during the year

- - 15,085 -
- Others
Balance outstanding as at balance sheet date in respect of the above

case - - 13,354 -
- Others
(Also refer Note 17 to the financial statements)
(b) In respect of the aforesaid loans, the terms and conditions under which such loans were granted are not prejudicial to the Company’s
interest.
(c) In respect of the aforesaid loans to a company, the schedule of repayment of principal is not stipulated but the amount is repayable on
demand and the schedule for payment of interest has been stipulated. As per the information and explanation provided to us, the principal
amounts have been repaid to the extent demanded by the Company during the year. In respect of loans to the other company, the schedule of
repayment of principal and payment of interest has been stipulated, however, the loans have been renewed on due dates as agreed between
the parties. Further, the parties are regular in payment of interest during the year.
(d) In respect of the aforesaid loans, there is no amount which is overdue for more than ninety days.
(e) The following loans were granted to same party, which has fallen due during the year and were renewed. Further, no fresh loans were
granted to same parties to settle the existing overdue loans.
(Rs. in Lakhs)
Aggregate amount dues renewed (Rs. Percentage of the aggregate to the total loans granted
Name of the party
in lakhs) during the year
Ruskin Titus India Private

1,500 9.94%
Limited
(f) The following loans were granted during the year, including to related parties under Section 2(76) of the Act, which are repayable on
demand or where no schedule for repayment of principal has been stipulated by the Company.
(Rs. in Lakhs)
All Parties Promoters Related Parties
Aggregate of loans
- Repayable on demand 14,235 - 14,235
- Agreement does not specify any terms or period of repayment - - -
Percentage of loans to the total loans 94.37% - 94.37%
45
(Also refer Note 17 to the financial statements)
iv. In our opinion, and according to the information and explanations given to us, the Company has complied with the provisions of Section
186 of the Act in respect of the loans or investments made or guarantees or security provided by it. The Company has not granted any loans
or provided any guarantees or security to the parties covered under Section 185 of the Act.
v. The Company has not accepted any deposits or amounts which are deemed to be deposits within the meaning of Sections 73, 74, 75 and 76
of the Act and the Rules framed there under to the extent notified.
vi. The Central Government of India has not specified the maintenance of cost records under sub section (1) of Section 148 of the Act for any
of the products of the Company.
vii. (a) According to the information and explanations given to us and the records of the Company examined by us, in our opinion, the
Company is generally regular in depositing undisputed statutory dues in respect of income tax though there has been a slight delay in a few
cases and is regular in depositing undisputed statutory dues, including goods and services tax, provident fund, employees’ state insurance,
sales tax, service tax, duty of customs, duty of excise, value added tax, cess and other material statutory dues, as applicable, with the
appropriate authorities. Also, refer Note 28(a)(B) to the financial statements regarding management's assessment on certain matters relating
to provident fund.
(b) According to the information and explanations given to us and the records of the Company examined by us, the particulars of statutory
dues referred to in sub-clause (a) as at March 31, 2022 which have not been deposited on account of a dispute, are as follows:
Amount Period to which the Forum where

Nature of
Name of the Statute (Rs. in amount relates dispute is
dues
lakhs)* (Financial Year) pending
Appellate
Central 1998-1999 and Authority - up to
The Central Sales Tax Act, 1956 5
Sales Tax 2015-16 Commissioner's
level
2001-2002, 2004-05, Appellate

Value added tax/ Sales tax Acts applicable in respective Sales Tax
2005-06, 2014-15, Authority - up to
States (West Bengal, Uttar Pradesh, Andhra Pradesh, Delhi, and Value 72
2016-2017 and Commissioner's
Haryana, Orrisa, Tamil Nadu, Telangana and Haryana) added tax
2017-18 level
Excise 1999-2000, 2000-01 The Supreme

The Central Excise Act, 1944 5
duty and 2001-02 Court of India
Customs Commissioner
The Customs Act, 1962 103 2011-12 to 2013-14
duty (Appeals)
Goods and Additional

The Odisha Goods and Services Tax Act, 2017 Services 23 2018-19 Commissioner,
Tax CT & GST
Income Appellate
The Income Tax Act, 1961 2,311 2017-18
Tax Authority-ITAT
* net of payment under protest
viii. According to the information and explanations given to us and the records of the Company examined by us, there are no transactions,
which are not recorded in the books of account, that has been surrendered or disclosed as income during the year in the tax assessments under
the Income Tax Act, 1961.
ix. (a) According to the records of the Company examined by us and the information and explanation given to us, the Company has not
defaulted in repayment of loans or other borrowings or in the payment of interest to any lender during the year.
(b) According to the information and explanations given to us and on the basis of our audit procedures, we report that the Company has not
been declared Wilful Defaulter by any bank or financial institution or government or any government authority.
46
(c) According to the records of the Company examined by us and the information and explanations given to us, the Company has not
obtained any term loans.
(d) According to the information and explanations given to us, and the procedures performed by us, and on an overall examination of the
financial statements of the Company, we report that no funds raised on short-term basis have been used for long-term purposes by the
Company.
(e) According to the information and explanations given to us and procedure performed by us, we report that the Company did not have any
subsidiary, joint venture or associate during the year. Accordingly, the reporting under clause 3(ix)(e) and clause 3(ix)(f) of the Order is not
applicable.
x. (a) The Company has not raised any money by way of initial public offer or further public offer (including debt instruments) during the
year. Accordingly, the reporting under clause 3(x)(a) of the Order is not applicable to the Company.
(b) The Company has not made any preferential allotment or private placement of shares or fully or partially or optionally convertible
debentures during the year. Accordingly, the reporting under clause 3(x)(b) of the Order is not applicable to the Company.
xi. (a) During the course of our examination of the books and records of the Company, carried out in accordance with the generally accepted
auditing practices in India, and according to the information and explanations given to us, we have neither come across any instance of
material fraud by the Company or on the Company, noticed or reported during the year, nor have we been informed of any such case by the
Management.
(b) During the course of our examination of the books and records of the Company, carried out in accordance with the generally accepted
auditing practices in India, and according to the information and explanations given to us, a report under Section 143(12) of the Act, in Form
ADT-4, as prescribed under Rule 13 of Companies (Audit and Auditors) Rules, 2014 was not required to be filed with the Central
Government. Accordingly, the reporting under clause 3(xi)(b) of the Order is not applicable to the Company.
(c) During the course of our examination of the books and records of the Company carried out in accordance with the generally accepted
auditing practices in India, and according to the information and explanations given to us, the Company has received whistle-blower
complaints during the year, which have been considered by us for any bearing on our audit and reporting under this clause.
xii. As the Company is not a Nidhi Company and the Nidhi Rules, 2014 are not applicable to it, the reporting under clause 3(xii) of the Order
is not applicable to the Company.
xiii. The Company has entered into transactions with related parties in compliance with the provisions of Section 188 of the Act. The details
of related party transactions have been disclosed in the financial statements as required under Accounting Standard 18 “Related Party
Disclosures” specified under Section 133 of the Act. Further, the Company is not required to constitute an Audit Committee under Section
177 of the Act and, accordingly, to this extent, the reporting under clause 3(xiii) of the Order is not applicable to the Company.
xiv. (a) In our opinion and according to the information and explanation given to us, the Company has an internal audit system
commensurate with the size and nature of its business.
(b) The reports of the Internal Auditor for the period under audit have been considered by us.
xv. The Company has not entered into any non-cash transactions with its directors or persons connected with him. Accordingly, the reporting
on compliance with the provisions of Section 192 of the Act under clause 3(xv) of the Order is not applicable to the Company.
xvi. (a) The Company is not required to be registered under Section 45-IA of the Reserve Bank of India Act, 1934. Accordingly, the
reporting under clause 3(xvi)(a) of the Order is not applicable to the Company.
(b) The Company has not conducted non-banking financial / housing finance activities during the year. Accordingly, the reporting under
clause 3(xvi)(b) of the Order is not applicable to the Company.
(c) The Company is not a Core Investment Company (CIC) as defined in the regulations made by the Reserve Bank of India. Accordingly,
the reporting under clause 3(xvi)(c) of the Order is not applicable to the Company.
(d) Based on the information and explanations provided by the management of the Company, the Group does not have any CICs, which are
part of the Group. We have not, however, separately evaluated whether the information provided by the management is accurate and
complete. Accordingly, the reporting under clause 3(xvi)(d) of the Order is not applicable to the Company.
xvii. The Company has not incurred any cash losses in the financial year or in the immediately preceding financial year
xviii. There has been no resignation of the statutory auditors during the year and accordingly, the reporting under clause 3(xviii) of the Order
is not applicable.
xix. According to the information and explanations given to us and on the basis of the financial ratios (Also refer Note 46 to the financial
statements), ageing and expected dates of realisation of financial assets and payment of financial liabilities, other information accompanying
the financial statements, our knowledge of the Board of Directors and management plans and based on our examination of the evidence
supporting the assumptions, nothing has come to our attention, which causes us to believe that any material uncertainty exists as on the date
of the audit report that Company is not capable of meeting its liabilities existing at the date of balance sheet as and when they fall due within
a period of one year from the balance sheet date. We, however, state that this is not an assurance as to the future viability of the Company.
We further state that our reporting is based on the facts up to the date of the audit report and we neither give any guarantee nor any assurance
that all liabilities falling due within a period of one year from the balance sheet date will get discharged by the Company as and when they
fall due.
47
xx. (a) The Company has not transferred the amount of Corporate Social Responsibility remaining unspent under sub-section (5) of Section
135 of the Act in respect of “other than ongoing projects” to a Fund specified in Schedule VII to the Act. Details are as given below:
(Rs. in Lakhs)
Amount to be Amount remaining Amount not

Amount transferred to Amount transferred to Fund
spent in unspent as at the transferred to Fund
Financial Fund under Sch. VII, under Sch. VII, after 6 months
accordance year-end to be under Sch. VII, till
year within 6 months from from end of financial year (till
with section transferred to fund the date of audit
end of financial year the date of audit report)
135(5) under Sch. VII report
2021-22 86 39 - - 39
[Also refer Note 38(ii) to the financial statements]
(b) In respect of ongoing projects, as at balance sheet date, the Company does not have any amount remaining unspent under Section 135(5)
of the Act. Accordingly, reporting under clause 3(xx)(b) of the Order is not applicable.
xxi. The reporting under clause 3(xxi) of the Order is not applicable in respect of audit of Standalone Financial Statements. Accordingly, no
comment in respect of the said clause has been included in this report.

Sachin Parekh
Partner
Place: Mumbai
Auditor's qualification(s), reservation(s) or adverse remark(s) in auditors' report

1. Attention to Note 39 to the financial statements regarding non-settlement of foreign currency payables aggregating to Rs. 141 lakhs as at
Bank of India and impact (if any) on the financial statements in this regard are presently not ascertainable. 2. Attention to Note 44 to the
financial statements with regards to non-compliance with Section 297 of the Companies Act, 1956 by Johnson Controls Marine and
Refrigeration India Limited ("JCMRIL") which was amalgamated with Company w.e.f. appointed date of April 1, 2017 pursuant to the
Scheme of the amalgamation approved by National Company Law Tribunal vide its order dated July 24, 2018. Prior to April 1, 2014,
JCMRIL had entered into transactions of purchase of goods and services received and sale of goods and services rendered with the Company
in which a Director of JCMRIL was interested as a Director. JCMRIL had not obtained the prior approval from the Central Government of
India as required under Section 297 of the Companies Act, 1956 for transactions of purchase of goods and services received aggregating to
Rs. 2,849 lakhs and sale of goods and services rendered aggregating to Rs. 714 lakhs. The Company has filed for the compounding
application with regards to non-compliance with Section 297 of the Companies Act, 1956 by Johnson Controls Marine and Refrigeration
India Limited ("JCMRIL"). Our opinion is not modified in respect of this matter. 3. Company had not spent the full CSR amount in F.Y.
2021-22 as pet the provisions of the Companies Act, 2013
[400500] Disclosures - Secretarial audit report

01/04/2021
to
31/03/2022
Disclosure in secretarial audit report explanatory [TextBlock]
Whether secretarial audit report is applicable on company No
48
[100100] Balance sheet

31/03/2022 31/03/2021 31/03/2020
Balance sheet [Abstract]
Equity and liabilities [Abstract]
Shareholders' funds [Abstract]
Share capital 10,004.2 893.5
Reserves and surplus 22,445 8,325
Total shareholders' funds 32,449.2 9,218.5
Share application money pending allotment 0 0
Minority interest 0 0
Non-current liabilities [Abstract]
Long-term borrowings 10,000 19,111
Other long-term liabilities 0 0
Long-term provisions 3,981 2,751
Total non-current liabilities 13,981 21,862
Current liabilities [Abstract]
Short-term borrowings 4,818 5,721
Trade payables 25,148.8 21,147.5
Other current liabilities 14,047 11,577
Short-term provisions 2,594 1,225
Total current liabilities 46,607.8 39,670.5
Total equity and liabilities 93,038 70,751
Assets [Abstract]
Non-current assets [Abstract]
Fixed assets [Abstract]
Tangible assets 2,024 857 1,278
Intangible assets 309 46 202
Tangible assets capital work-in-progress 0 103
Total fixed assets 2,333 1,006
Non-current investments 0 0
Deferred tax assets (net) 3,202 2,804
Long-term loans and advances 2,847 2,284
Other non-current assets 3,172 3,422
Total non-current assets 11,554 9,516
Current assets [Abstract]
Current investments 0 0
Inventories 1,968 2,238
Trade receivables 49,984 32,564
Cash and bank balances 3,645 4,491
Short-term loans and advances 24,169 20,376
Other current assets 1,718 1,566
Total current assets 81,484 61,235
Total assets 93,038 70,751
49
[400300] Disclosures - Signatories of financial statements
Details of directors signing financial statements [Table] ..(1)

Directors signing financial statements [Axis] 1 2 3
01/04/2021 01/04/2021 01/04/2021
to to to
31/03/2022 31/03/2022 31/03/2022
Details of signatories of financial statements [Abstract]
Details of directors signing financial statements [Abstract]
Details of directors signing financial statements [LineItems]
Name of director signing financial statements [Abstract]
SIVAKUMAR
MURUGESAN
First name of director ARUN AWASTHY
MOTTAIYAN
SELVA
GANAPATHY
Designation of director Managing Director Director Director
Director identification number of director 01991681 09701686 09701630
Date of signing of financial statements by director 21/10/2022 21/10/2022 21/10/2022

01/04/2021
to
31/03/2022
Name of company secretary Pratibha Bhushan Tare
Permanent account number of company secretary AVNPC2760M
Date of signing of financial statements by company secretary 21/10/2022
50
[100400] Cash flow statement, indirect

01/04/2021 01/04/2020
to to 31/03/2020
31/03/2022 31/03/2021
Statement of cash flows [Abstract]
Whether cash flow statement is applicable on company Yes Yes
Cash flows from used in operating activities [Abstract]
Profit before extraordinary items and tax 19,069 4,865
Adjustments for reconcile profit (loss) [Abstract]
Adjustments to profit (loss) [Abstract]
Adjustments for finance costs 3,311 3,422
Adjustments for depreciation and amortisation expense 411 647
Adjustments for unrealised foreign exchange losses gains 0 -35
Other adjustments for which cash effects are investing or
financing cash flow (A) -962 (B) -1,132
Other adjustments to reconcile profit (loss) (C) 1,098 (D) 289

Total adjustments to profit (loss) 3,858 3,191
Adjustments for working capital [Abstract]
Adjustments for decrease (increase) in inventories 270 181
Adjustments for decrease (increase) in trade receivables -18,527 6,707
Adjustments for decrease (increase) in other current assets (E) -3,745 (F) 4,027
Adjustments for increase (decrease) in trade payables 4,203 -4,388
Adjustments for increase (decrease) in other current liabilities 2,419 4,285
Adjustments for provisions 1,549 1,567
Total adjustments for working capital -13,831 12,379
Total adjustments for reconcile profit (loss) -9,973 15,570
Net cash flows from (used in) operations 9,096 20,435
Income taxes paid (refund) 5,096 1,575
Net cash flows from (used in) operating activities before extraordinary
4,000 18,860
items
Net cash flows from (used in) operating activities 4,000 18,860
Cash flows from used in investing activities [Abstract]
Purchase of tangible assets 1,803 181
Cash advances and loans made to other parties 850

(G) 6,198
Cash receipts from repayment of advances and loans made to other parties (H) 796
0
Interest received 966 1,141

Net cash flows from (used in) investing activities before extraordinary
-891 -5,238
items
Net cash flows from (used in) investing activities -891 -5,238
Cash flows from used in financing activities [Abstract]
Proceeds from borrowings 0
(I) 7,144
Repayments of borrowings (J) 903 (K) 14,360
Interest paid 3,054 3,401
Net cash flows from (used in) financing activities before extraordinary
-3,957 -10,617
items
Net cash flows from (used in) financing activities -3,957 -10,617
Net increase (decrease) in cash and cash equivalents before effect of
-848 3,005
exchange rate changes
Effect of exchange rate changes on cash and cash equivalents [Abstract]
Effect of exchange rate changes on cash and cash equivalents 0 35
Net increase (decrease) in cash and cash equivalents -848 3,040
Cash and cash equivalents cash flow statement at end of period 3,645 4,491 1,452
51
Footnotes
(A) Interest income - (962)
(B) Loss on property, plant and equipment (net) - (9)
Interest income - (1,141)
(C) Bad debts - 506
Liabilities / provisions written back to the extent no longer required - (202)
Provision for trade receivables and unbilled revenue - 601
Provision for contingencies (net) - 209
Provision for / (write back of) foreseeable losses in respect of unfinished contracts (net) - (16)
(D) Bad debts - 196
Liabilities / provisions written back to the extent no longer required - (296)
Provision for trade receivables and unbilled revenue - 478
Provision for contingencies (net) - 96
Provision for / (write back of) foreseeable losses in respect of unfinished contracts (net) - (153)
Provision for doubtful deposits / (provision written back) - (32)
(E) (Increase) / Decrease in loans and advances - (3,839)
Decrease in other assets - 94
(F) (Increase) / Decrease in loans and advances - 3,118
Decrease in other assets - 909
(G) Loan given / (received back) under cash pool arrangement (net)
(H) Loan given / (received back) under cash pool arrangement (net)
(I) Proceeds from short-term borrowings - 6,800
Loan taken / (Repaid) under Cash pool arrangement (net) - 344
(J) Loan taken / (Repaid) under Cash pool arrangement (net)
(K) Repayment of short-term borrowings
[200100] Notes - Share capital
Disclosure of shareholding more than five per cent in company [Table] ..(1)
Classes of share capital [Axis] Equity shares 1 [Member]
Name of shareholder [Axis] Shareholder 1 [Member]
01/04/2021 01/04/2020
to to
31/03/2022 31/03/2021
Disclosure of shareholding more than five per cent in company [Abstract]
Disclosure of shareholding more than five per cent in company [LineItems]
Type of share Equity Shares Equity Shares
Name of shareholder Holding Company (Mauritius) Private
Inc Limited
UNITED
Country of incorporation or residence of shareholder STATES
MAURITIUS
[shares]
Number of shares held in company 9,11,07,020
[shares] 89,34,951
Percentage of shareholding in company 91.07% 100.00%
52
Disclosure of classes of share capital [Table] ..(1)

Equity shares
Classes of share capital [Axis] Share capital [Member]
[Member]
01/04/2021 01/04/2020 01/04/2021
to to 31/03/2020 to
31/03/2022 31/03/2021 31/03/2022
Disclosure of classes of share capital [Abstract]
Disclosure of classes of share capital [LineItems]
[shares] [shares]
Number of shares authorised 22,00,00,000
[shares] 22,00,00,000
22,00,00,000
Value of shares authorised 22,000 22,000 22,000
[shares] [shares]
Number of shares issued 10,00,41,971
[shares] 89,34,971
10,00,41,971
Value of shares issued 10,004.2 893.5 10,004.2
[shares] [shares]
Number of shares subscribed and fully paid 10,00,41,971
[shares] 89,34,971
10,00,41,971
Value of shares subscribed and fully paid 10,004.2 893.5 10,004.2
Number of shares subscribed but not fully paid [shares] 0 [shares] 0 [shares] 0
Value of shares subscribed but not fully paid 0 0 0
[shares] [shares]
Total number of shares subscribed 10,00,41,971
[shares] 89,34,971
10,00,41,971
Total value of shares subscribed 10,004.2 893.5 10,004.2
Value of shares paid-up [Abstract]
[shares] [shares]
Number of shares paid-up 10,00,41,971
[shares] 89,34,971
10,00,41,971
Value of shares called 10,004.2 893.5 10,004.2
Value of shares paid-up 10,004.2 893.5 10,004.2
Reconciliation of number of shares outstanding
[Abstract]
Changes in number of shares outstanding
[Abstract]
Increase in number of shares outstanding
[Abstract]
Number of shares issued in public offering [shares] 0 [shares] 0 [shares] 0
Number of shares issued as bonus shares [shares] 0 [shares] 0 [shares] 0
Number of shares allotted for
contracts without payment received [shares] 0 [shares] 0 [shares] 0
in cash
Number of shares issued under scheme of
[shares] 0 [shares] 0 [shares] 0
amalgamation
Number of other issues of shares [shares] 0 [shares] 0 [shares] 0
Number of other issue of shares
arising out of conversion of [shares] 9,11,07,000 [shares] 0 [shares] 9,11,07,000
securities
Total aggregate number of shares issued
[shares] 9,11,07,000 [shares] 0 [shares] 9,11,07,000
during period
Total increase (decrease) in number of
[shares] 9,11,07,000 [shares] 0 [shares] 9,11,07,000
shares outstanding
[shares] [shares]
Number of shares outstanding at end of period 10,00,41,971
[shares] 89,34,971 [shares] 89,34,971
10,00,41,971
Reconciliation of value of shares outstanding
[Abstract]
Changes in share capital [Abstract]
Increase in share capital during period
[Abstract]
Amount of public issue during period 0 0 0
Amount of bonus issue during period 0 0 0
Amount of issue allotted for
contracts without payment 0 0 0
received in cash during period
Amount of issue under scheme of
0 0 0
amalgamation during period
Amount of other issues during period 0 0 0
Amount of other issue arising out of
conversion of securities during 9,110.7 0 9,110.7
period
Total aggregate amount of increase in
9,110.7 0 9,110.7
share capital during period
Total increase (decrease) in share capital 9,110.7 0 9,110.7
Share capital at end of period 10,004.2 893.5 10,004.2
Rights preferences and restrictions attaching
to class of share capital
53
Shares in company held by holding company or

ultimate holding company or by its subsidiaries
or associates [Abstract]
Shares in company held by holding company [shares] 9,11,07,020 [shares] 89,34,951 [shares] 9,11,07,020
Total shares in company held by holding company
or ultimate holding company or by its [shares] 9,11,07,020 [shares] 89,34,951 [shares] 9,11,07,020
subsidiaries or associates
Details of application money received for
allotment of securities and due for refund and
interest accrued thereon [Abstract]
Application money received for allotment of
securities and due for refund and interest
accrued thereon [Abstract]
Total application money received for
allotment of securities and due for refund 0 0 0
and interest accrued thereon
54

Classes of share capital [Axis] Equity shares [Member] Equity shares 1 [Member]
01/04/2020 01/04/2021 01/04/2020
to 31/03/2020 to to
31/03/2021 31/03/2022 31/03/2021
Type of share Equity Shares Equity Shares
[shares]
Number of shares authorised [shares] 22,00,00,000
22,00,00,000
[shares] 22,00,00,000
Value of shares authorised 22,000 22,000 22,000

[shares]
Number of shares issued [shares] 89,34,971
10,00,41,971
[shares] 89,34,971
Value of shares issued 893.5 10,004.2 893.5

[shares]
Number of shares subscribed and fully paid [shares] 89,34,971
10,00,41,971
[shares] 89,34,971
Value of shares subscribed and fully paid 893.5 10,004.2 893.5

Number of shares subscribed but not fully paid [shares] 0 [shares] 0 [shares] 0
Value of shares subscribed but not fully paid 0 0 0
[shares]
Total number of shares subscribed [shares] 89,34,971
10,00,41,971
[shares] 89,34,971
Total value of shares subscribed 893.5 10,004.2 893.5

Value of shares paid-up [Abstract]
[shares]
Number of shares paid-up [shares] 89,34,971
10,00,41,971
[shares] 89,34,971
Value of shares called 893.5 10,004.2 893.5

Value of shares paid-up 893.5 10,004.2 893.5
Par value per share [INR/shares] 10 [INR/shares] 10
Amount per share called in case shares not fully
[INR/shares] 0 [INR/shares] 0
called
Reconciliation of number of shares outstanding
[Abstract]
Changes in number of shares outstanding
[Abstract]
Increase in number of shares outstanding
[Abstract]
Number of shares issued in public offering [shares] 0 [shares] 0 [shares] 0
Number of shares issued as bonus shares [shares] 0 [shares] 0 [shares] 0
Number of shares allotted for
contracts without payment received [shares] 0 [shares] 0 [shares] 0
in cash
Number of shares issued under scheme of
[shares] 0 [shares] 0 [shares] 0
amalgamation
Number of other issues of shares [shares] 0 [shares] 0 [shares] 0
Number of other issue of shares
arising out of conversion of [shares] 0 [shares] 9,11,07,000 [shares] 0
securities
Total aggregate number of shares issued
[shares] 0 [shares] 9,11,07,000 [shares] 0
during period
Total increase (decrease) in number of
[shares] 0 [shares] 9,11,07,000 [shares] 0
shares outstanding
[shares]
Number of shares outstanding at end of period [shares] 89,34,971 [shares] 89,34,971
10,00,41,971
[shares] 89,34,971
Reconciliation of value of shares outstanding

[Abstract]
Changes in share capital [Abstract]
Increase in share capital during period
[Abstract]
Amount of public issue during period 0 0 0
Amount of bonus issue during period 0 0 0
Amount of issue allotted for
contracts without payment 0 0 0
received in cash during period
Amount of issue under scheme of
0 0 0
amalgamation during period
Amount of other issues during period 0 0 0
Amount of other issue arising out of
conversion of securities during 0 9,110.7 0
period
Total aggregate amount of increase in
0 9,110.7 0
share capital during period
Total increase (decrease) in share capital 0 9,110.7 0
55
Share capital at end of period 893.5 893.5 10,004.2 893.5

Rights preferences and restrictions attaching Textual information Textual information
to class of share capital (41) [See below] (42) [See below]
Shares in company held by holding company or
ultimate holding company or by its subsidiaries
or associates [Abstract]
Shares in company held by holding company [shares] 89,34,951 [shares] 9,11,07,020 [shares] 89,34,951
Total shares in company held by holding company
or ultimate holding company or by its [shares] 89,34,951 [shares] 9,11,07,020 [shares] 89,34,951
subsidiaries or associates
Details of application money received for
allotment of securities and due for refund and
interest accrued thereon [Abstract]
Application money received for allotment of
securities and due for refund and interest
accrued thereon [Abstract]
Total application money received for
allotment of securities and due for refund 0 0 0
and interest accrued thereon

Equity shares 1
Classes of share capital [Axis]
[Member]
31/03/2020
Reconciliation of number of shares outstanding [Abstract]
Number of shares outstanding at end of period [shares] 89,34,971
Reconciliation of value of shares outstanding [Abstract]
Share capital at end of period 893.5

01/04/2021 01/04/2020
to to
31/03/2022 31/03/2021
Disclosure of notes on share capital explanatory [TextBlock] [See below]
Whether there are any shareholders holding more than five per cent
Yes Yes
shares in company
Number of persons on private placement of equity share 0 0
Number of persons on private placement of preference share 0 0
Whether money raised from public offering during year No No
Amount raised from public offering during year 0 0
Amount utilised towards specified purposes for public offering 0 0
Amount remaining unutilised received in respect of public offering 0 0
Rights preferences and restrictions attaching to class of share capital

The Company has one class of equity shares having a par value of Rs.10 per share. Each shareholder is eligible for one vote per share held.
The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting,
except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the
Company after distribution of all preferential amounts, in proportion to their shareholding.
Rights preferences and restrictions attaching to class of share capital

56
Disclosure of notes on share capital explanatory [Text Block]

3. Share capital
As at As at
March 31, 2022 March 31, 2021
Share capital
Authorised
220,000,000 (Previous year: 220,000,000) equity shares of Rs. 10 each 22,000 22,000
Issued, subscribed and paid-up
100,041,971 (Previous year: 8,934,971) equity shares of Rs. 10 each (fully paid-up) 10,004 893
10,004 893
(a) Reconciliation of number of equity shares
As at March 31, As at March 31,

2022 2021
Number of Number of
Amount Amount
shares shares
Balance as at the beginning of the year 8,934,971 893 8,934,971 893
Add: Shares issued on conversion of debentures during the year

91,107,000 9,111 - -
[Refer Note 3(i)]
Balance as at the end of the year 100,041,971 10,004 8,934,971 893
(b) Rights, preferences and restrictions attached to shares
57
58
(c) Equity shares held by holding company or ultimate holding or its subsidiaries
As at As at
March 31, March 31,

2022 2021
Johnson Controls Holding Company Inc., USA, the holding company (effective March 26,
2022)
91,107,020 shares (Previous year: 20 shares) 9,111 @
Johnson Controls (Mauritius) Private Limited (holding company upto March 25, 2022)
8,934,951 shares (Previous year: 8,934,951 shares) 893 893
(d) Details of equity shares held by shareholders holding more than 5% of the aggregate shares in the Company
As at As at
March 31, 2022 March 31, 2021
Percentage Percentage
Johnson Controls (Mauritius) Private Limited
8,934,951 shares (Previous year: 8,934,951 shares) 8.93% 99.99%
Johnson Controls Holding Company Inc., USA
91,107,020 shares (Previous year: 20 shares) 91.07% @
(e) Details of shareholding of promoters
As at March 31, 2022
Number of shares % of total shares % of change during the year
59
Johnson Controls Holding Company Inc., USA 91,107,020 91.07% 455535000%
Johnson Controls (Mauritius) Private Limited 8,934,951 8.93% 0%
As at March 31, 2021
Number of shares % of total shares % of change during the year
Johnson Controls Holding Company Inc., USA 20 @ 0.00%
Johnson Controls (Mauritius) Private Limited 8,934,951 99.99% 9.35%
Johnson Controls Denmark ApS - 0.00% -100.00%
(f) Terms of securities convertible into equity shares - Refer note 5
(g) There were no shares bought back or allotted as fully paid-up bonus shares during the five years immediately preceding the year ended
March 31, 2022.
(h) The Company had allotted 763,643 equity shares during the year ended March 31,2019, pursuant to scheme of amalgamation of Johnson
Controls Marine and Refrigeration India Limited ("JCMRIL") with the Company, being contract without payment being received in cash.
(i) On March 26, 2022, 9,110,700 fully and compulsorily convertible unsecured debentures of Rs. 100 each were converted into 91,107,000
equity shares of Rs. 10 each and issued to Johnson Controls Holding Company Inc., USA at the rate of 10 equity shares per debenture held.
Consequent to this change, Johnson Controls Holding Company Inc., USA has become the holding company effective from March 26, 2022.
60
[200200] Notes - Reserves and surplus
Statement of changes in reserves [Table] ..(1)

Capital reserves
Components of reserves [Axis] Reserves [Member]
[Member]
01/04/2021 01/04/2020 01/04/2021
to to 31/03/2020 to
31/03/2022 31/03/2021 31/03/2022
Statement of changes in reserves [Abstract]
Statement of changes in reserves [LineItems]
Changes in reserves [Abstract]
Additions to reserves [Abstract]
Profit (loss) for period 14,120 2,906 0
Other additions to reserves 0 0 0
Total additions to reserves 14,120 2,906 0
Appropriations for dividend, dividend tax and
general reserve [Abstract]
Other appropriations 0 0 0
Transfer to general reserve 0 0 0
Total appropriations for dividend,
0 0 0
dividend tax and general reserve
Appropriation towards bonus shares 0 0 0
Total changes in reserves 14,120 2,906 0
Reserves at end of period 22,445 8,325 5,419 764

Components of reserves [Axis] Capital reserves [Member] Other reserves [Member]
01/04/2020 01/04/2021 01/04/2020
to 31/03/2020 to to
31/03/2021 31/03/2022 31/03/2021
Profit (loss) for period 0 0 0
Other additions to reserves 0 0 0
Total additions to reserves 0 0 0
Other appropriations 0 0 0
Transfer to general reserve 0 0 0
0 0 0
Appropriation towards bonus shares 0 0 0
Total changes in reserves 0 0 0
Reserves at end of period 764 764 250 250
61

Other reserves
Components of reserves [Axis] Amalgamation reserve [Member]
[Member]
01/04/2021 01/04/2020
31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021
Profit (loss) for period 0 0
Other additions to reserves 0 0
Total additions to reserves 0 0
Other appropriations 0 0
Transfer to general reserve 0 0
0 0
Appropriation towards bonus shares 0 0
Total changes in reserves 0 0
Reserves at end of period 250 250 250 250

Components of reserves [Axis] Surplus [Member]
01/04/2021 01/04/2020
to to 31/03/2020
31/03/2022 31/03/2021
Profit (loss) for period 14,120 2,906
Other additions to reserves 0 0
Total additions to reserves 14,120 2,906
Appropriations for dividend, dividend tax and general reserve
[Abstract]
Other appropriations 0 0
Transfer to general reserve 0 0
Total appropriations for dividend, dividend tax and general
0 0
reserve
Appropriation towards bonus shares 0 0
Total changes in reserves 14,120 2,906
Reserves at end of period 21,431 7,311 4,405

01/04/2021
to
31/03/2022
Disclosure of notes on reserves explanatory [TextBlock] [See below]
62
Disclosure of notes on reserves explanatory [Text Block]

4. Reserves and surplus
As at As at
March 31, 2022 March 31, 2021
Reserves and surplus
Capital Reserve
Balance as at the beginning and at the end of the year 764 764
Amalgamation reserve
Balance as at the beginning and at the end of the year
250 250
Surplus in Statement of Profit and Loss
Balance as at the beginning of the year 7,311 4,405
Add: Transferred from Surplus in Statement of Profit and Loss during the year 2,906
Balance as at the end of the year 21,431 7,311
22,445 8,325
63
[200300] Notes - Borrowings
Classification of borrowings [Table] ..(1)

Classification based on time period [Axis] Long-term [Member]
Classification of borrowings [Axis] Borrowings [Member] Bonds/debentures [Member]
Subclassification of borrowings [Axis] Unsecured borrowings [Member] Unsecured borrowings [Member]
31/03/2022 31/03/2021 31/03/2022 31/03/2021
Borrowings notes [Abstract]
Details of borrowings [Abstract]
Details of borrowings [LineItems]
Borrowings 10,000 19,111 10,000 19,111
Details on defaults on borrowings [Abstract]
Outstanding amount of continuing default
0 0 0 0
principal
0 0 0 0
interest

Fully convertible debentures
Classification of borrowings [Axis] Debentures [Member]
intercorporate [Member]
31/03/2022 31/03/2021 31/03/2022 31/03/2021
Borrowings 10,000 19,111 10,000 19,111
0 0 0 0
principal
0 0 0 0
interest

Classification based on time period [Axis] Short-term [Member]
Loans and advances from related
Classification of borrowings [Axis] Borrowings [Member]
parties [Member]
31/03/2022 31/03/2021 31/03/2022 31/03/2021
Borrowings 4,818 5,721 4,818 5,721
0 0 0 0
principal
0 0 0 0
interest

Loans and advances from others
Classification of borrowings [Axis]
[Member]
Subclassification of borrowings [Axis] Unsecured borrowings [Member]
31/03/2022 31/03/2021
Borrowings 4,818 5,721
Outstanding amount of continuing default principal 0 0
Outstanding amount of continuing default interest 0 0
64
Details of bonds or debentures [Table] ..(1)

Details of bonds or debentures [Axis] 1 2
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to to to
31/03/2022 31/03/2021 31/03/2022 31/03/2021
Details of bonds or debentures [Abstract]
Details of bonds or debentures [LineItems]
Whether bonds or debentures Debenture Debenture Debenture Debenture
Nature of bond or debenture Fully convertible Fully convertible Fully convertible Fully convertible
Holder of bond or debenture Intercorporate Intercorporate Intercorporate Intercorporate
Rate of interest 15.00% 15.00% 0.00% 13.00%
Textual information Textual information Textual information Textual information
Particulars of redemption or conversion (45) [See below] (46) [See below] (47) [See below] (48) [See below]
Nominal value per bond or debenture 100 100 0 100
Number of bonds or debentures 91,10,700 91,10,700 0 1,00,00,000

01/04/2021
to
31/03/2022
Disclosure of notes on borrowings explanatory [TextBlock] [See below]
Particulars of redemption or conversion

On March 26, 2022, 9,110,700 fully and compulsorily convertible unsecured debentures of Rs. 100 each were converted into 91,107,000
Consequent to this change, Johnson Controls Holding Company Inc., USA has become the holding company effective from March 26, 2022

On March 26, 2022, 9,110,700 fully and compulsorily convertible unsecured debentures of Rs. 100 each were converted into 91,107,000
Consequent to this change, Johnson Controls Holding Company Inc., USA has become the holding company effective from March 26, 2022

Each outstanding debenture shall be automatically, fully and mandatorily converted into 5 equity shares of the Company fifteen years after
the date of allotment, i.e., October 1, 2013. Fractions of equity shares will not be issued on conversion and no cash payment will be made in
respect thereof.

Each outstanding debenture shall be automatically, fully and mandatorily converted into 5 equity shares of the Company fifteen years after
respect thereof.
65
Disclosure of notes on borrowings explanatory [Text Block]

5. Long-term borrowings
As at As at
March 31, 2022 March 31, 2021
Long-term borrowings
Fully and compulsorily convertible unsecured debentures: [Refer note (a) below]
(held by Johnson Controls Holding Company Inc.,USA)
NIL (Previous year: 9,110,700) debentures Rs.100 each [(Refer Note 3(i)] - 9,111
10,000,000 (Previous year: 10,000,000) debentures of Rs.100 each 10,000 10,000
10,000 19,111
a) Terms of conversion
9,110,700 debentures Rs.100 each has been converted into 91,107,000 shares Rs. 10 each during the year [Refer Note 3(i)]
10,000,000 (Previous year: 10,000,000) debentures of Rs.100 each:
- Each outstanding debenture shall be automatically, fully and mandatorily converted into 5 equity shares of the Company fifteen years after
respect thereof.
- The debenture holder shall be deemed to have applied for allotment of equity shares. The conversion shall be automatic without any further
act on part of the debenture holder. The debenture holder shall be deemed to have authorised the Company to enter its name in the register of
members or any relevant record of the Company for equity shares allotted on conversion.
b) Interest
9,110,700 debentures Rs.100 each have been converted into 91,197,000 shares Rs. 10 each during the year on March 26, 2022.
- Each debenture carried an interest rate of Nil for the first three years from the date of allotment and thereafter till conversion at the rate of
15% per annum, payable annually on the anniversary of the date of allotment.
10,000,000 (Previous year: 10,000,000) debentures of Rs.100 each:
- Each debenture carries an interest rate of 13% per annum payable annually on the anniversary of the date of allotment.
7. Short-term borrowings
As at As at
March 31, 2022 March 31, 2021
66
Short-term borrowings
(Unsecured)
Loans from related parties (refer Note 35)* 4,818 5,721
(repayable on demand)
4,818 5,721
* Loan as at March 31, 2022 taken from Tyco Fire And Security India Private Limited and Qolsys Software India Private Limited, both
related parties, under cash pool arrangements. The interest is payable at the rate of 6.5% p.a. (Previous year: 6.5% p.a.) on a monthly basis
7A. Trade payables
As at As at
March 31, 2022 March 31, 2021
(a) Total outstanding dues of micro enterprises and small enterprises (Refer note 40) 2,758 346
(b) Total outstanding dues of creditors other than micro enterprises and small enterprises 22,391 20,802
25,149 21,148
Ageing of Trade Payables as at March 31, 2022
Outstanding for following periods from

Particulars Unbilled Total
due date of payment
Less than 1-2 2-3 More than

Not Due
1 year Year Year 3 years
Undisputed dues
(i) Micro enterprises and

- 2,419 339 - - -
small enterprises 2,758
(ii) Others 9,921 3,860 - 141

8,460 9 22,391
67
Disputed dues

- - - - - - -
small enterprises
(ii) Others - - - - - - -
12,340 4,199 - 141

8,460 9 25,149
Ageing of Trade Payables as at March 31, 2021
Outstanding for following periods from

Particulars Unbilled Total
due date of payment
Less than 1-2 2-3 More than

Not Due
1 year Year Year 3 years
Undisputed dues

- 173 173 - - - 346
small enterprises
(ii) Others 7,610 3,136 109 48

9,891 8 20,802
Disputed dues

- - - - - - -
small enterprises
(ii) Others - - - - - - -
7,783 3,309 109 48

9,891 8 21,148
68
[201000] Notes - Tangible assets
Disclosure of tangible assets [Table] ..(1)

Classes of tangible assets [Axis] Company total tangible assets [Member]
Sub classes of tangible assets [Axis] Owned and leased assets [Member]
Carrying amount accumulated depreciation and
Carrying amount [Member] Gross carrying amount [Member]
gross carrying amount [Axis]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to 31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021 31/03/2022 31/03/2021
Disclosure of tangible assets [Abstract]
Disclosure of tangible assets
[LineItems]
Reconciliation of changes in
tangible assets [Abstract]
Changes in tangible assets
[Abstract]
Additions other than through
business combinations tangible 1,529 78 1,529 78
assets
Acquisitions through
business combinations 0 0 0 0
tangible assets
Depreciation tangible assets -362 -491
Impairment loss
recognised in profit or 0 0
loss tangible assets
Reversal of impairment loss
recognised in profit or loss 0 0
tangible assets
Revaluation increase
0 0 0 0
(decrease) tangible assets
Disposals tangible assets
[Abstract]
0 0 0 0
through demergers
Disposals tangible assets,
0 8 14 69
others
Total disposals tangible
0 8 14 69
assets
Other adjustments tangible
assets [Abstract]
Increase (decrease) through
net exchange differences 0 0 0 0
tangible assets
0 0 0 0
assets, others
Total other adjustments
0 0 0 0
tangible assets
Total changes in tangible
1,167 -421 1,515 9
assets
Tangible assets at end of period 2,024 857 1,278 6,610 5,095 5,086
69

Classes of tangible assets [Axis] Company total tangible assets [Member] Plant and equipment [Member]
Sub classes of tangible assets [Axis] Owned and leased assets [Member] Owned assets [Member]
Carrying amount accumulated depreciation and Accumulated depreciation and impairment
Carrying amount [Member]
gross carrying amount [Axis] [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to 31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[LineItems]
[Abstract]
business combinations tangible 732 0
assets
business combinations 0 0
tangible assets
Depreciation tangible assets 362 491 -21 0
Impairment loss
recognised in profit or 0 0 0 0
recognised in profit or loss 0 0 0 0
tangible assets
0 0
[Abstract]
0 0
through demergers
14 61 0 0
others
14 61 0 0
assets
assets [Abstract]
net exchange differences 0 0
tangible assets
0 0 0 0
assets, others
0 0 0 0
tangible assets
348 430 711 0
assets
Tangible assets at end of period 4,586 4,238 3,808 711 0 0
70

Classes of tangible assets [Axis] Plant and equipment [Member]
Sub classes of tangible assets [Axis] Owned assets [Member]
Gross carrying amount [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to 31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[LineItems]
[Abstract]
assets
tangible assets
Depreciation tangible assets 21 0
Impairment loss
tangible assets
0 0
[Abstract]
0 0
through demergers
0 0 0 0
others
0 0 0 0
assets
assets [Abstract]
tangible assets
0 0 0 0
assets, others
0 0 0 0
tangible assets
732 0 21 0
assets
Tangible assets at end of period 928 196 196 217 196 196
71

Classes of tangible assets [Axis] Other plant and equipment [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to 31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[LineItems]
[Abstract]
business combinations tangible 732 0 732 0
assets
tangible assets
Depreciation tangible assets -21 0
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0
through demergers
0 0 0 0
others
0 0 0 0
assets
assets [Abstract]
tangible assets
0 0 0 0
assets, others
0 0 0 0
tangible assets
711 0 732 0
assets
72

Classes of tangible assets [Axis] Other plant and equipment [Member] Furniture and fixtures [Member]
Sub classes of tangible assets [Axis] Owned assets [Member] Owned assets [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to 31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[LineItems]
[Abstract]
assets
tangible assets
Depreciation tangible assets 21 0 -9 -8
Impairment loss
tangible assets
0 0
[Abstract]
0 0
through demergers
0 0 0 0
others
0 0 0 0
assets
assets [Abstract]
tangible assets
0 0 0 0
assets, others
0 0 0 0
tangible assets
21 0 22 1
assets
73

Classes of tangible assets [Axis] Furniture and fixtures [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to 31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[LineItems]
[Abstract]
assets
tangible assets
Impairment loss
tangible assets
0 0
[Abstract]
0 0
through demergers
0 31 0 31
others
0 31 0 31
assets
assets [Abstract]
tangible assets
0 0 0 0
assets, others
0 0 0 0
tangible assets
31 -22 9 -23
assets
74

Classes of tangible assets [Axis] Vehicles [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to 31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[LineItems]
[Abstract]
assets
tangible assets
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0
through demergers
0 0 0 0
others
0 0 0 0
assets
assets [Abstract]
tangible assets
0 0 0 0
assets, others
0 0 0 0
tangible assets
0 0 0 0
assets
75

Classes of tangible assets [Axis] Vehicles [Member] Motor vehicles [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to 31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[LineItems]
[Abstract]
assets
tangible assets
Depreciation tangible assets 0 0 0 0
Impairment loss
tangible assets
0 0
[Abstract]
0 0
through demergers
0 0 0 0
others
0 0 0 0
assets
assets [Abstract]
tangible assets
0 0 0 0
assets, others
0 0 0 0
tangible assets
0 0 0 0
assets
76

Classes of tangible assets [Axis] Motor vehicles [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to 31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[LineItems]
[Abstract]
assets
tangible assets
Impairment loss
tangible assets
0 0
[Abstract]
0 0
through demergers
0 0 0 0
others
0 0 0 0
assets
assets [Abstract]
tangible assets
0 0 0 0
assets, others
0 0 0 0
tangible assets
0 0 0 0
assets
77

Classes of tangible assets [Axis] Office equipment [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to 31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[LineItems]
[Abstract]
assets
tangible assets
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0
through demergers
0 4 0 14
others
0 4 0 14
assets
assets [Abstract]
tangible assets
0 0 0 0
assets, others
0 0 0 0
tangible assets
7 -96 131 9
assets
Tangible assets at end of period 262 255 351 1,232 1,101 1,092
78

Classes of tangible assets [Axis] Office equipment [Member] Computer equipments [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to 31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[LineItems]
[Abstract]
assets
tangible assets
Depreciation tangible assets 124 115 -22 -74
Impairment loss
tangible assets
0 0
[Abstract]
0 0
through demergers
0 10 0 0
others
0 10 0 0
assets
assets [Abstract]
tangible assets
0 0 0 0
assets, others
0 0 0 0
tangible assets
124 105 17 -74
assets
79

Classes of tangible assets [Axis] Computer equipments [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to 31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[LineItems]
[Abstract]
assets
tangible assets
Impairment loss
tangible assets
0 0
[Abstract]
0 0
through demergers
0 9 0 9
others
0 9 0 9
assets
assets [Abstract]
tangible assets
0 0 0 0
assets, others
0 0 0 0
tangible assets
39 -9 22 65
assets
80

Classes of tangible assets [Axis] Leasehold improvements [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to 31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[LineItems]
[Abstract]
assets
tangible assets
Impairment loss
tangible assets
0 0 0 0
[Abstract]
0 0 0 0
through demergers
0 4 14 15
others
0 4 14 15
assets
assets [Abstract]
tangible assets
0 0 0 0
assets, others
0 0 0 0
tangible assets
410 -252 582 31
assets
Tangible assets at end of period 976 566 818 3,423 2,841 2,810
81

Classes of tangible assets [Axis] Leasehold improvements [Member]
Carrying amount accumulated depreciation and gross carrying amount [Axis] Accumulated depreciation and impairment [Member]
01/04/2021 01/04/2020
to to 31/03/2020
31/03/2022 31/03/2021
Disclosure of tangible assets [LineItems]
Reconciliation of changes in tangible assets [Abstract]
Changes in tangible assets [Abstract]
Impairment loss recognised in profit or loss tangible assets 0 0
Reversal of impairment loss recognised in profit or loss
0 0
tangible assets
Disposals tangible assets [Abstract]
Disposals tangible assets, others 14 11
Total disposals tangible assets 14 11
Other adjustments tangible assets [Abstract]
Other adjustments tangible assets, others 0 0
Total other adjustments tangible assets 0 0
Total changes in tangible assets 172 283
Tangible assets at end of period 2,447 2,275 1,992
Disclosure of additional information tangible assets [Table] ..(1)

Company total tangible assets Other plant and equipment
Classes of tangible assets [Axis] Plant and equipment [Member]
[Member] [Member]
Owned and leased assets
[Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to to to to to
31/03/2022 31/03/2021 31/03/2022 31/03/2021 31/03/2022 31/03/2021
Disclosure of additional information
tangible assets [LineItems]
Straight Line Straight Line
Depreciation method tangible assets Method Method
Useful lives or depreciation rates
5 Years 5 Years
tangible assets

Furniture and fixtures
Classes of tangible assets [Axis] Vehicles [Member] Motor vehicles [Member]
[Member]
Sub classes of tangible assets [Axis] Owned assets [Member] Owned assets [Member] Owned assets [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to to to to to
31/03/2022 31/03/2021 31/03/2022 31/03/2021 31/03/2022 31/03/2021
Straight Line Straight Line Straight Line Straight Line
Depreciation method tangible assets Method Method Method Method
Useful lives or depreciation rates
5 Years 5 Years 6 Years 6 Years
tangible assets
82

Computer equipments Leasehold improvements
Classes of tangible assets [Axis] Office equipment [Member]
[Member] [Member]
Sub classes of tangible assets [Axis] Owned assets [Member] Owned assets [Member] Owned assets [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to to to to to
31/03/2022 31/03/2021 31/03/2022 31/03/2021 31/03/2022 31/03/2021
Straight Line Straight Line Straight Line Straight Line Straight Line Straight Line
Depreciation method tangible assets Method Method Method Method Method Method
Useful lives or depreciation rates over the period over the period
5 Years 5 Years 3 Years 3 Years
tangible assets of lease of lease

01/04/2021
to
31/03/2022
Disclosure of notes on tangible assets explanatory [TextBlock] [See below]
Disclosure of accounting policy on tangible assets [TextBlock] [See below]
83
Disclosure of notes on tangible assets explanatory [Text Block]

10A. Property, plant and equipment
Particulars Gross block (at cost)
As at As at
Additions Disposals
April 1, 2021 March 31, 2022
Leasehold improvements 2,841 596 14 3,423
(2,810) (46) (15) (2,841)
Plant and machinery 196 732 - 928
(196) - - (196)
Computer hardware 905 39 - 944
(914) - (9) (905)
Office equipment 1,101 131 - 1,232
(1,092) (23) (14) (1,101)
Furniture and fixtures 50 31 - 81
(72) (9) (31) (50)
Vehicles 2 - - 2
(2) - - (2)
Total 5,095 1,529 14 6,610
84
Previous year (5,086) (78) (69) (5,095)
10A. Property, plant and equipment (Contd....)
Particulars Depreciation Net block
Up to For the Up to As at
Disposals
March 31, 2021 year March 31, 2022 March 31, 2022
Leasehold improvements 2,275 186 14 2,447 976
(1,992) (294) (11) (2,275) (566)
Plant and machinery 196 21 - 217 711
(196) - - (196) -
Computer hardware 875 22 - 897 47
(810) (74) (9) (875) (30)
Office equipment 846 124 - 970 262
(741) (115) (10) (846) (255)
Furniture and fixtures 44 9 - 53 28
(67) (8) (31) (44) (6)
Vehicles 2 - - 2 -
(2) - - (2) -
Total 4,238 362 14 4,586 2,024
85
Previous year (3,808) (491) (61) (4,238) (857)
Note: The company did not carry out physical verification of property, plant and equipment during the previous year and in the current year
but has planned to conduct such verification in the financial year 2022-23.
10C Capital Work -in- Progress
As at As at
Particulars Additions during the year Captitalisation during the year
April 1, 2021 March 31, 2022
Capital Work -in- Progress 103 - 103 -
As at As at
Particulars Additions during the year Captitalisation during the year
April 1, 2020 March 31, 2021
Capital Work -in- Progress - 103 - 103
Capital Work -in- Progress as at March 31, 2022
Amount in Capital Work -in- Progress for a

Particulars
period of
More than 3
Less than 1 year 1-2 years 2-3 years Total
years
Projects in progress - - - -
-
Projects temporarily
- - - -
suspended -
Capital Work -in- Progress as at March 31, 2021
Amount in Capital Work -in- Progress for a

Particulars
period of
More than 3
Less than 1 year 1-2 years 2-3 years Total
years
Projects in progress 103 - - - 103
Projects temporarily
- - - - -
suspended
Note: There are no projects in capital work-in progress, whose completion is overdue or has exceeded its cost compared to its original plan.
86
Disclosure of accounting policy on tangible assets [Text Block]

2.2. Property, plant and equipment and Intangible assets
Property, plant and equipment
Property, plant and equipment are stated at acquisition cost, net of accumulated depreciation and accumulated impairment losses, if any.
Subsequent expenditures related to an item of property, plant and equipment are added to its book value only if they increase the future
benefits from the existing asset beyond its previously assessed standard of performance. Losses arising from the retirement of, and gains or
losses arising from disposal of property, plant and equipment which are carried at cost are recognised in the Statement of Profit and Loss.
Depreciation is provided on a pro-rata basis on the straight-line method over the following estimated useful lives of the assets:
Assets Useful life
Office equipment 5 years
Computer Hardware 3 years
Plant and Machinery 5 years
Vehicle 6 years
Furniture and fixture 5 years
Leasehold improvements are amortised on a straight-line basis over the period of lease.
Intangible assets
Intangible assets are stated at acquisition cost, net of accumulated amortisation and accumulated impairment losses, if any. Intangible assets
are amortised on a straight line basis over their estimated useful lives. The amortisation period and the amortisation method are reviewed at
least at each financial year end. If the expected useful life of the asset is significantly different from previous estimates, the amortisation
period is changed accordingly. Gains or losses arising from the retirement or disposal of an intangible asset are determined as the difference
between the net disposal proceeds and the carrying amount of the asset and recognised as income or expense in the Statement of Profit and
Loss.
Intangible assets are amortised on a straight line basis over a period of three years.
87
[201100] Notes - Intangible assets
Disclosure of intangible assets [Table] ..(1)

Classes of intangible assets [Axis] Company total intangible assets [Member]
Sub classes of intangible assets [Axis] Internally generated and other than internally generated intangible assets [Member]
Carrying amount accumulated amortization and
impairment and gross carrying amount [Axis]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to 31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021 31/03/2022 31/03/2021
Disclosure of intangible assets [Abstract]
Disclosure of intangible assets
[LineItems]
intangible assets [Abstract]
Changes in intangible assets
[Abstract]
Additions to intangible assets
[Abstract]
Additions through internal
312 0 312 0
development
intangible assets
intangible assets
Total additions to
312 0 312 0
intangible assets
Amortization intangible assets -49 -156
Impairment loss
loss intangible assets
intangible assets
0 0 0 0
(decrease) intangible assets
Disposals intangible assets
[Abstract]
Disposals intangible
0 0 0 0
assets through demergers
0 0 1,005 0
assets, others
Total disposals intangible
0 0 1,005 0
assets
Retirements of intangible
0 0 0 0
assets
Other adjustments intangible
assets [Abstract]
intangible assets
Other adjustments
0 0 0 0
intangible assets, others
0 0 0 0
intangible assets
Total changes in intangible
263 -156 -693 0
assets
Intangible assets at end of period 309 46 202 787 1,480 1,480
88

Classes of intangible assets [Axis] Company total intangible assets [Member] Computer software [Member]
Internally generated and other than internally Internally generated intangible assets
Sub classes of intangible assets [Axis]
generated intangible assets [Member] [Member]
Carrying amount accumulated amortization and Accumulated amortization and impairment
impairment and gross carrying amount [Axis] [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to 31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[LineItems]
[Abstract]
[Abstract]
312 0
development
intangible assets
intangible assets
Total additions to
312 0
intangible assets
Amortization intangible assets 49 156 -49 -156
Impairment loss
intangible assets
0 0
[Abstract]
0 0
1,005 0 0 0
assets, others
1,005 0 0 0
assets
0 0
assets
assets [Abstract]
intangible assets
Other adjustments
0 0 0 0
0 0 0 0
intangible assets
-956 156 263 -156
assets
Intangible assets at end of period 478 1,434 1,278 309 46 202
89

Classes of intangible assets [Axis] Computer software [Member]
Sub classes of intangible assets [Axis] Internally generated intangible assets [Member]
Carrying amount accumulated amortization and Accumulated amortization and impairment
impairment and gross carrying amount [Axis] [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to 31/03/2020 to to 31/03/2020
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[LineItems]
[Abstract]
[Abstract]
312 0
development
intangible assets
intangible assets
Total additions to
312 0
intangible assets
Amortization intangible assets 49 156
Impairment loss
intangible assets
0 0
[Abstract]
0 0
1,005 0 1,005 0
assets, others
1,005 0 1,005 0
assets
0 0
assets
assets [Abstract]
intangible assets
Other adjustments
0 0 0 0
0 0 0 0
intangible assets
-693 0 -956 156
assets
Intangible assets at end of period 787 1,480 1,480 478 1,434 1,278
90
Disclosure of additional information intangible assets [Table] ..(1)

Company total intangible assets
Classes of intangible assets [Axis] Computer software [Member]
[Member]
Internally generated and other than
Internally generated intangible assets
Sub classes of intangible assets [Axis] internally generated intangible assets
[Member]
[Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to to to
31/03/2022 31/03/2021 31/03/2022 31/03/2021
Disclosure of additional information intangible assets
[Abstract]
Disclosure of additional information intangible
assets [LineItems]
Useful lives or amortization rates intangible
3 Years 3 Years
assets
Straight Line
Description of amortization method used Method
Straight Line Method

01/04/2021
to
31/03/2022
Disclosure of notes on intangible assets explanatory [TextBlock] [See below]
Disclosure of notes on intangible assets explanatory [Text Block]

10B. Intangible assets
Gross block (at

Particulars Amortisation Net block
cost)
As at Up to Up to As at
As at For the
Additions Disposals March 31, March 31, Disposals March 31, March 31,
April 1, 2021 year
2022 2021 2022 2022
Computer
1,480 312 1,005 787 1,434 49 478 309
software 1,005
(1,480) - - (1,278) (156) - (46)

(1,480) (1,434)
Total 1,480 312 1,005 787 1,434 49 478 309

1,005
Previous year (1,480) - - (1,278) (156) - (46)

(1,480) (1,434)
Note: The company did not carry out physical verification of property, plant and equipment during the previous year and in the current year
but has planned to conduct such verification in the financial year 2022-23.
91
[200400] Notes - Non-current investments

31/03/2022 31/03/2021
Disclosure of notes on non-current investments explanatory [TextBlock]
Aggregate amount of quoted non-current investments 0 0
Market value of quoted non-current investments 0 0
Aggregate amount of unquoted non-current investments 0 0
Aggregate provision for diminution in value of non-current investments 0 0
[200500] Notes - Current investments

31/03/2022 31/03/2021
Disclosure of notes on current investments explanatory [TextBlock]
Aggregate amount of quoted current investments 0 0
Market value of quoted current investments 0 0
Aggregate amount of unquoted current investments 0 0
Aggregate provision for diminution in value of current investments 0 0
[200600] Notes - Subclassification and notes on liabilities and assets
Classification of inventories [Table] ..(1)

Classification of inventories [Axis] Company total inventories [Member] Raw materials [Member]
01/04/2021 01/04/2020 01/04/2021 01/04/2020
to to to to
31/03/2022 31/03/2021 31/03/2022 31/03/2021
Subclassification and notes on liabilities and assets
[Abstract]
Inventories notes [Abstract]
Inventories [Abstract]
Classification of inventories [Abstract]
Details of inventories [LineItems]
Inventories 1,968 2,238 61 0
Inventories are
Inventories are stated
stated at lower of
Mode of valuation cost and net
at lower of cost and
net realisable value
realisable value
Classification of inventories [Table] ..(2)

Classification of inventories [Axis] Stores and spares [Member]
01/04/2021 01/04/2020
to to
31/03/2022 31/03/2021
Subclassification and notes on liabilities and assets [Abstract]
Inventories notes [Abstract]
Inventories [Abstract]
Classification of inventories [Abstract]
Details of inventories [LineItems]
Inventories 1,907 2,238
Inventories are
Inventories are stated
stated at lower of
Mode of valuation cost and net
at lower of cost and
net realisable value
realisable value
92
Loans and advances [Table] ..(1)

Classification of loans and advances [Axis] Capital advances [Member] Prepaid expenses [Member]
Classification of assets based on security [Axis] Unsecured considered good [Member] Unsecured considered good [Member]
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[Abstract]
Loans and advances notes [Abstract]
Loans and advances [Abstract]
Disclosure of loans and advances [LineItems]
Loans and advances, gross 0 28 0 7
Allowance for bad and doubtful loans and
0 0 0 0
advances
Loans and advances 0 28 0 7
Details of loans and advances due by
directors, other officers or others
[Abstract]
Loans and advances due by directors 0 0 0 0
Loans and advances due by other officers 0 0 0 0
Total loans and advances due by
0 0 0 0
Details of loans and advances due by firms
or companies in which any director is
partner or director [Abstract]
Total loans and advances due
by firms or companies in which
0 0 0 0
any director is partner or
director

Classification of loans and advances [Axis] Advance tax [Member] Advance income tax paid [Member]
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[Abstract]
Loans and advances, gross 2,230 1,739 2,230 1,739
0 0 0 0
advances
Loans and advances 2,230 1,739 2,230 1,739
[Abstract]
0 0 0 0
0 0 0 0
director
93

Other loans and advances, others
Classification of loans and advances [Axis] Other taxes receivable [Member]
[Member]
01/04/2021 01/04/2020
31/03/2022 31/03/2021 to to
31/03/2022 31/03/2021
[Abstract]
Loans and advances, gross 321 320 296 190
0 0 0 0
advances
Loans and advances 321 320 296 190
Customs duty Customs duty
Nature of other loans and advances receivable receivable
[Abstract]
0 0 0 0
0 0 0 0
director

Loans advances given other related Loans advances given suppliers
Classification of loans and advances [Axis]
parties [Member] [Member]
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[Abstract]
Loans and advances, gross 13,354 13,300 100 231
0 0 0 0
advances
Loans and advances 13,354 13,300 100 231
[Abstract]
0 0 0 0
0 0 0 0
director
94

Classification of loans and advances [Axis] Prepaid expenses [Member] Other taxes receivable [Member]
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[Abstract]
Loans and advances, gross 1,452 678 9,263 6,167
0 0 0 0
advances
Loans and advances 1,452 678 9,263 6,167
[Abstract]
0 0 0 0
0 0 0 0
director
Disclosure of breakup of provisions [Table] ..(1)

Classification based on time period [Axis] Long-term [Member] Short-term [Member]
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[Abstract]
Provisions notes [Abstract]
Disclosure of breakup of provisions [Abstract]
Disclosure of breakup of provisions [LineItems]
Provisions [Abstract]
Provisions for employee benefits
[Abstract]
Provision gratuity 2,287 1,525
Provision leave encashment 1,694 1,226 141 91
Total provisions for employee benefits 3,981 2,751 141 91
Provision for corporate tax [Abstract]
Provision for current tax 857 0
Total provision for corporate tax 857 0
CSR expenditure provision 0 0 0 0
Other provisions (A) 1,596 (B) 1,134
Total provisions 3,981 2,751 2,594 1,225
Footnotes
(A) Provision for warranty - 469
Provision for foreseeable losses in respect of unfinished contracts - 17
Provision for contingencies - 1,110
(B) Provision for warranty - 200
Provision for foreseeable losses in respect of unfinished contracts - 33
Provision for contingencies - 901
95
Subclassification of trade receivables [Table] ..(1)

Classification of assets based on security
Classification of assets based on security [Axis] Unsecured considered good [Member]
[Member]
31/03/2022 31/03/2021 31/03/2022 31/03/2021
[Abstract]
Trade receivables notes [Abstract]
Trade receivables [Abstract]
Subclassification of trade receivables
[Abstract]
Subclassification of trade receivables
[LineItems]
Breakup of trade receivables [Abstract]
Trade receivables, gross 51,766 33,745 51,766 33,745
Allowance for bad and doubtful debts 1,782 1,181 1,782 1,181
Total trade receivables 49,984 32,564 49,984 32,564
Details of trade receivables due by
[Abstract]
Trade receivables due by directors 0 0
Trade receivables due by other officers 0 0
Details of trade receivables due by
firms or companies in which any director
is partner or director [Abstract]
Total trade receivables due by firms
or companies in which any director is 0 0
partner or director
96

01/04/2021 01/04/2020
to to
31/03/2022 31/03/2021
Disclosure of subclassification and notes on liabilities and assets Textual information (53)
explanatory [TextBlock] [See below]
Trade payables, long-term 0 0
Total other long-term liabilities 0 0
Disclosure of notes on provisions explanatory [TextBlock] [See below]
Provision for warranty, Provision for warranty,
Provision for Provision for
foreseeable losses in foreseeable losses in
Nature of other provisions respect of unfinished respect of unfinished
contracts and Provision contracts and Provision
for contingencies for contingencies
Disclosure of notes on other current liabilities explanatory Textual information (55)
Interest accrued but not due on borrowings 612 633
Interest accrued and due on borrowings 0 0
Interest accrued but not due on public deposits 0 0
Interest accrued and due on public deposits 0 0
Debentures claimed but not paid 0 0
Unpaid dividends 0 0
Unpaid matured deposits and interest accrued thereon 0 0
Unpaid matured debentures and interest accrued thereon 0 0
Taxes payable other tax (A) 3,293 (B) 2,099

Public deposit payable, current 0 0
Total other payables, current 3,293 2,099
Advance received from customers 2,322 3,507
Current liabilities portion of share application money pending
0 0
allotment
Other current liabilities, others (C) 7,820 (D) 5,338
Total other current liabilities 14,047 11,577
Disclosure of notes on loans and advances explanatory [TextBlock] [See below]
Disclosure of notes on other non-current assets explanatory Textual information (57)
Other non-current assets, others (E) 3,172 (F) 3,422

Total other non-current assets 3,172 3,422
Long-term trade Long-term trade
Nature of other non-current assets, others receivables and Security receivables and Security
Deposits Deposits
Disclosure of notes on inventories explanatory [TextBlock] [See below]
Accounting policy on inventories [TextBlock] [See below]
Disclosure of notes on trade receivables explanatory [TextBlock] [See below]
Aggregate amount of trade receivables outstanding for period
0 0
exceeding six months
Disclosure of notes on cash and bank balances explanatory [TextBlock] [See below]
Fixed deposits with banks 0 0
Other deposits with banks 0

(G) 20
Other balances with banks (H) 3,645 (I) 4,471
Total balance with banks 3,645 4,491
Cash on hand 0 0
Total cash and cash equivalents 3,645 4,491
Total cash and bank balances 3,645 4,491
Total balances held with banks to extent held as
margin money or security against borrowings, 0 0
guarantees or other commitments
Bank deposits with more than twelve months maturity 0 0
Disclosure of notes on other current assets explanatory [TextBlock] [See below]
Interest receivable 97 101
Other current assets, others (J) 1,621 (K) 1,465

Total other current assets 1,718 1,566
97
Export incentives, Export incentives,

Nature of other current assets Secuity Deposits and Secuity Deposits and
Other Receivables Other Receivables
Footnotes
(A) Statutory dues including provident fund and tax deducted at source
(B) Statutory dues including provident fund and tax deducted at source
(C) Employee benefits payable - 3,193
Billing in excess of costs and earnings in respect of unfinished contracts - 2,949
Unearned revenue - 1,048
Interest payable to micro and small enterprises - 591
Provision for CSR obligations - 39
(D) Employee benefits payable - 2,123
Billing in excess of costs and earnings in respect of unfinished contracts - 1,692
Unearned revenue - 1,004
Creditors for capital goods - 93
Interest payable to micro and small enterprises - 426
(E) Long-term trade receivables (Retention money) - 34
Security Deposits - 3,138
(F) Long-term trade receivables (Retention money) - 68
Security Deposits - 3,354
(G) Demand deposits
(H) In current accounts - 3,625
In EEFC accounts - 20
(I) In current accounts - 3,415
In EEFC accounts - 1,056
(J) Export incentives - 486
Secuity Deposits - 570
Other Receivables - 565
(K) Export incentives - 1,158
Secuity Deposits - 2
Other Receivables - 305
98
Disclosure of subclassification and notes on liabilities and assets explanatory [Text Block]
11. Deferred tax assets
As at As at
March 31, 2022 March 31, 2021
Deferred tax assets
Deferred tax assets
Provision for doubtful debts/ deposits/ unbilled revenue 493 342
Depreciation 533 581
Disallowance under section 43B of the Income-tax Act, 1961 2,054 1,436
Disallowance u/s 94B for interest paid on debentures - 386
Others 122 59
3,202 2,804
99
Disclosure of notes on provisions explanatory [Text Block]

6. Long-term provisions
As at As at
March 31, 2022 March 31, 2021
Provision for employee benefits
Provision for gratuity (Refer note 23) 2,287 1,525
Provision for compensated absences (Refer note 23) 1,694 1,226
3,981 2,751
9. Short-term provisions
As at As at
March 31, 2022 March 31, 2021
Short-term provisions
Provision for employee benefits
Provision for compensated absences (Refer note 23) 141 91
Provision for taxation [net of advance tax of 4,876 (Previous year: Nil)] 857 -
Other provisions
Provision for warranty (Refer note 37) 469 200
Provision for foreseeable losses in respect of unfinished contracts (Refer note 37) 17 33
100
Provision for contingencies (Refer note 37) 1,110 901
2,594 1,225
Disclosure of notes on other current liabilities explanatory [Text Block]

8. Other current liabilities
As at As at
March 31, 2022 March 31, 2021
Other current liabilities
Interest accrued but not due on borrowings 612 633
Advance from customers 2,322 3,507
Employee benefits payable 3,193 2,123
Statutory dues including provident fund and tax deducted at source 3,293 2,099
Billing in excess of costs and earnings in respect of unfinished contracts (Refer note 33) 2,949 1,692
Unearned revenue 1,048 1,004
Creditors for capital goods - 93
Interest payable to micro and small enterprises (Refer Note 40) 591 426
Provision for CSR obligations (Refer Note 38) 39 -
14,047 11,577
Note: There are no amounts due for payment to the Investor Education and Protection Fund under Section 125 of Companies Act, 2013 as at
the year end.
101
Disclosure of notes on loans and advances explanatory [Text Block]

12. Long-term loans and advances
As at As at
March 31, 2022 March 31, 2021
Long-term loans and advances
Unsecured, considered good (unless stated otherwise):
Capital advances - 28
Other loans and advances
Advance income tax [Net of provision of 14,239 (Previous year: 14,493)] 2,230 1,739
Balances with government authorities 321 320
Customs duty receivable
- Considered good 296 190
- Considered doubtful 133 133
Less: Allowance for doubtful receivable (133) (133)
296 190
Prepaid expenses - 7
2,847 2,284
17. Short-term loans and advances
102
As at As at
March 31, 2022 March 31, 2021
Short-term loans and advances
Unsecured, considered good (unless stated otherwise)
Loans to related parties * (Refer note 35) 13,354 13,300
Prepaid expenses 1,452 678
Balances with government authorities 9,263 6,167
Advance to vendors 100 231
24,169 20,376
* The loan of 2,350 (Previous year: 1,500) to Ruskin Titus India Private Limited was given for working capital purpose which is repayable
within a period of 6 months and carries an interest rate in the range of 4.43% p.a. to 4.76% p.a. (Previous year: repayable within a period of 6
months and interest rate of 6.5% p.a). In current year, the loans were renewed for further period on due dates.
Loan granted as at March 31, 2022 of 11,004 (Previous year: 11,800) to Tyco Safety Products India Private Limited, a related party, under
cash pool arrangements is given for working capital purpose. The interest on these balances is payable at the rate of 6.5% p.a. (Previous year:
6.5% p.a.) on a monthly basis
Details of loans and advances in the nature of loans granted to promoters, directors, key managerial personnel and related parties (as defined
under Companies Act, 2013) either severally or jointly with any other person, that are:
(a) repayable on demand; or
(b) without specifying any terms or period of repayment
As at March 31, 2022 As at March 31, 2021
Amount of loan* Amount of loan*

Percentage to the total Percentage to the total
outstanding or outstanding or
Type of Borrower loans and advances in the loans and advances in the
Advance in nature of Advance in nature of
nature of loans nature of loans
loan loan
a) Amounts repayable
on demand
Promoters - 0% - 0%
Directors - 0% - 0%
Key managerial
103
personnel - 0% - 0%
Other related parties

11,004 82% 11,800 89%
(Refer Note 35)
b) without specifying
any terms or period of
repayment
Promoters - 0% - 0%
Directors - 0% - 0%
Key managerial
- 0% - 0%
personnel
Other related parties - 0% - 0%
* Loan granted under cash pool arrangement for the purpose of working capital requirement. During the year ended March 31, 2022, the
Company has granted loans aggregating 19,877 on various dates under cash pool arrangements and party is repaying the amounts when
demanded as per the terms of arrangement. The interest is payable at the rate of 6.5% p.a. (Previous year: 6.5% p.a.) on a monthly basis.
Disclosure of notes on other non-current assets explanatory [Text Block]

13. Other non-current assets
As at As at
March 31, 2022 March 31, 2021
Other non-current assets
Unsecured, considered good (unless stated otherwise):
Long-term trade receivables (Retention money) 34 68
Security Deposits 3,138 3,354
3,172 3,422
104
Disclosure of notes on inventories explanatory [Text Block]

14. Inventories
As at As at
March 31, 2022 March 31, 2021
Inventories
Raw materials 61 -
Project materials and component parts 1,907 2,238
[includes in transit 407 (Previous year: 652)]
1,968 2,238
Accounting policy on inventories [Text Block]

2.5. Inventories
Inventories are stated at lower of cost and net realisable value. Cost is determined using the weighted average method. Cost comprises of all
costs of purchase and other costs incurred in bringing the inventories to their present location and condition. Net realisable value is the
estimated selling price in the ordinary course of business, less the estimated costs necessary to make the sale.
105
Disclosure of notes on trade receivables explanatory [Text Block]

15. Trade receivables
As at As at
March 31, March 31,

2022 2021
Trade receivables
Unsecured
Considered good (includes retention money of 843 (Previous Year: 1,522) which is due within
49,984 32,564
1 year)
Considered doubtful 1,782 1,181
51,766 33,745
Less: Provision for doubtful debts (1,782) (1,181)
49,984 32,564
Ageing of Trade receivables as at March 31, 2022
Outstanding for following periods

Particulars Unbilled
from due date of payment
More
Less than 6 6 months - 1-2
Not Due 2-3 Year than 3 Total
months 1 year Year
years
Undisputed Trade
Receivable
- Considered
17,325 17,833 2,895 44 118 49,984
good 11,735 34
- Considered
338 101 160 87 55 1,081
doubtful 123 217
106
Disputed Trade
Receivable
- Considered
- - - - - - -
good -
- Considered
- 42 92 108 252 25 701
doubtful 182
TOTAL 12,073 17,468 18,085 3,090 351 360 51,766

339
Ageing of Trade receivables as at March 31, 2021
Outstanding for following periods

Particulars Unbilled
from due date of payment
More
Less than 6 6 months - 2-3
Not Due 1-2 Year than 3 Total
months 1 year Year
years
Undisputed Trade
Receivable
- Considered
12,629 10,951 829 540 335 32,471
good 7,120 67
- Considered
135 73 96 202 348
doubtful 88 146 1,088
Disputed Trade
Receivable
- Considered
4 2 30 36 7 14 93
good -
- Considered
4 2 30 36 7 14 93
doubtful -
7,208 12,772 11,028 985 814 227 711 33,745
# includes unbilled revenue towards contracts in progress - 8,500 (Previous year: 6,201) (Refer Note 33)
107
Disclosure of notes on cash and bank balances explanatory [Text Block]

16. Cash and bank balances
As at As at
March 31, 2022 March 31, 2021
Cash and bank balances
Cash and cash equivalents:
Bank balances
In current accounts 3,625 3,415
In EEFC accounts 20 1,056
Demand deposits (less than 3 months original maturity) - 20
3,645 4,491
108
Disclosure of notes on other current assets explanatory [Text Block]

18. Other current assets
As at As at
March 31, 2022 March 31, 2021
Other current assets
Export incentives 486 1,158
Interest receivable on loans to related parties 97 101
Secuity Deposits
- Considered good 570 2
- Considered doubtful 177 177
Less: Allowance for doubtful deposits (177) (177)
570 2
Other Receivables 565 305
1,718 1,566
109
[200700] Notes - Additional disclosures on balance sheet

01/04/2021 01/04/2020
to to
31/03/2022 31/03/2021
Disclosure of additional balance sheet notes explanatory [TextBlock]
Total contingent liabilities and commitments 0 0
Amount of dividends proposed to be distributed to equity shareholders 0 0
Amount of per share dividend proposed to be distributed to equity
[INR/shares] 0 [INR/shares] 0
shareholders
Deposits accepted or renewed during period 0 0
Deposits matured and claimed but not paid during period 0 0
Deposits matured and claimed but not paid 0 0
Deposits matured but not claimed 0 0
Interest on deposits accrued and due but not paid 0 0
Share application money received during year 0 0
Share application money paid during year 0 0
Amount of share application money received back during year 0 0
Amount of share application money repaid returned back during year 0 0
Number of person share application money paid during year 0 0
Number of person share application money received during year 0 0
Number of person share application money paid as at end of year 0 0
Number of person share application money received as at end of year 0 0
Whether maintenance of cost records by company has been
mandated under Companies (Cost Records and Audit) Rules, No No
2014
Unclaimed share application refund money 0 0
Unclaimed matured debentures 0 0
Unclaimed matured deposits 0 0
Interest unclaimed amount 0 0
Number of warrants converted into equity shares during period 0 0
Number of warrants converted into preference shares during period 0 0
Number of warrants converted into debentures during period 0 0
Number of warrants issued during period (in foreign currency) 0 0
Number of warrants issued during period (INR) 0 0
[200800] Notes - Disclosure of accounting policies, changes in accounting policies and estimates
01/04/2021
to
31/03/2022
Disclosure of accounting policies, change in accounting policies and Textual information (63)
changes in estimates explanatory [TextBlock] [See below]
Disclosure of general information about company [TextBlock] [See below]
Disclosure of accounting policies explanatory [TextBlock] [See below]
110
Disclosure of accounting policies, change in accounting policies and changes in estimates explanatory [Text Block]
2.1 Basis of preparation
These financial statements have been prepared in accordance with the generally accepted accounting principles in India under the historical
cost convention on accrual basis. These financial statements have been prepared to comply in all material aspects with the accounting
standards notified under the Companies (Accounting Standards) Rules, 2021 (as amended), specified under Section 133 of the Companies
Act, 2013 (‘the Act’) and other relevant provisions of the Act.
All assets and liabilities have been classified as current or non-current as per the Company’s operating cycle and other criteria set out in the
Schedule III (Division I) to the Act. Based on the nature of products and the time between the acquisition of assets for processing and their
realisation in cash and cash equivalents, the Company has ascertained its operating cycle as 12 months for the purpose of current –
non-current classification of assets and liabilities.
2.15. Use of estimates
The preparation and presentation of financial statements requires the management to make estimates and assumptions that affect the reported
amount of assets and liabilities and disclosures of contingent liabilities as on the date of the financial statements and reported amount of
revenue and expenses during the reporting period. Difference between the actual results and estimates is recognised in the period in which
the results are known / materialised.
Disclosure of general information about company [Text Block]

1. General information
Johnson Controls (India) Private Limited is engaged in diversified businesses providing:
- building automation systems, fire alarm systems, access control and security surveillance systems including allied equipment, components
and spares thereof
- turnkey contracts to install and maintain above system supply/erection and commissioning of Refrigeration plants and trading of Air
conditioning chillers and spares and services required for all such Refrigeration plants
- engineering solutions primarily to its group companies and others
- shared services to group companies
The registered office of the Company is in Pune. The ultimate holding company is Johnson Controls International plc., Ireland.
111
Disclosure of accounting policies explanatory [Text Block]

Notes to the financial statements as of and for the year ended March 31, 2022
1. General information
Johnson Controls (India) Private Limited is engaged in diversified businesses providing:
- building automation systems, fire alarm systems, access control and security surveillance systems including allied equipment, components
and spares thereof
- turnkey contracts to install and maintain above system supply/erection and commissioning of Refrigeration plants and trading of Air
conditioning chillers and spares and services required for all such Refrigeration plants
- engineering solutions primarily to its group companies and others
- shared services to group companies
The registered office of the Company is in Pune. The ultimate holding company is Johnson Controls International plc., Ireland.
2. Significant accounting policies
2.1 Basis of preparation
These financial statements have been prepared in accordance with the generally accepted accounting principles in India under the historical
cost convention on accrual basis. These financial statements have been prepared to comply in all material aspects with the accounting
standards notified under the Companies (Accounting Standards) Rules, 2021 (as amended), specified under Section 133 of the Companies
Act, 2013 (‘the Act’) and other relevant provisions of the Act.
All assets and liabilities have been classified as current or non-current as per the Company’s operating cycle and other criteria set out in the
Schedule III (Division I) to the Act. Based on the nature of products and the time between the acquisition of assets for processing and their
realisation in cash and cash equivalents, the Company has ascertained its operating cycle as 12 months for the purpose of current –
non-current classification of assets and liabilities.
2.2. Property, plant and equipment and Intangible assets
Property, plant and equipment are stated at acquisition cost, net of accumulated depreciation and accumulated impairment losses, if any.
Subsequent expenditures related to an item of property, plant and equipment are added to its book value only if they increase the future
benefits from the existing asset beyond its previously assessed standard of performance. Losses arising from the retirement of, and gains or
losses arising from disposal of property, plant and equipment which are carried at cost are recognised in the Statement of Profit and Loss.
Depreciation is provided on a pro-rata basis on the straight-line method over the following estimated useful lives of the assets:
Assets Useful life
Office equipment 5 years
Computer Hardware 3 years
Plant and Machinery 5 years
Vehicle 6 years
Furniture and fixture 5 years
Leasehold improvements are amortised on a straight-line basis over the period of lease.
Intangible assets
112
Intangible assets are stated at acquisition cost, net of accumulated amortisation and accumulated impairment losses, if any. Intangible assets
are amortised on a straight line basis over their estimated useful lives. The amortisation period and the amortisation method are reviewed at
least at each financial year end. If the expected useful life of the asset is significantly different from previous estimates, the amortisation
period is changed accordingly. Gains or losses arising from the retirement or disposal of an intangible asset are determined as the difference
between the net disposal proceeds and the carrying amount of the asset and recognised as income or expense in the Statement of Profit and
Loss.
Intangible assets are amortised on a straight line basis over a period of three years.
2.3. Borrowing costs
General and specific borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets
that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of such assets, until such
time as the assets are substantially ready for their intended use. All other borrowing costs are recognised in Statement of Profit and Loss in
the period in which they are incurred.
2.4. Impairment of assets
Assessment is done at each Balance Sheet date as to whether there is any indication that an asset (tangible and intangible) may be impaired.
For the purpose of assessing impairment, the smallest identifiable group of assets that generates cash inflows from continuing use that are
largely independent of the cash inflows from other assets or groups of assets, is considered as a cash generating unit. If any such indication
exists, an estimate of the recoverable amount of the asset / cash generating unit is made. Assets whose carrying value exceeds their
recoverable amount are written down to the recoverable amount. Recoverable amount is higher of an asset’s or cash generating unit’s net
selling price and its value in use. Value in use is the present value of estimated future cash flows expected to arise from the continuing use of
an asset and from its disposal at the end of its useful life. Assessment is also done at each Balance Sheet date as to whether there is any
indication that an impairment loss recognised for an asset in prior accounting periods may no longer exist or may have decreased.
2.5. Inventories
Inventories are stated at lower of cost and net realisable value. Cost is determined using the weighted average method. Cost comprises of all
costs of purchase and other costs incurred in bringing the inventories to their present location and condition. Net realisable value is the
estimated selling price in the ordinary course of business, less the estimated costs necessary to make the sale.
2.6. Foreign currency translations
Initial recognition
On initial recognition, all foreign currency transactions are recorded by applying to the foreign currency amount the exchange rate between
the reporting currency and the foreign currency at the date of the transaction.
Subsequent recognition
At the reporting date, non-monetary items which are carried in terms of historical cost denominated in a foreign currency are reported using
the exchange rate at the date of the transaction. All monetary assets and liabilities in foreign currency are restated at the end of the accounting
year. Exchange differences on restatement/ settlement of all monetary items are recognised in the Statement of Profit and Loss.
2.7. Revenue recognition
i) Revenue on contracts (time and material) is recognised as per the percentage of completion method based on the stage of completion of a
contract up to the reporting date. The stage of completion of a contract is determined as the proportion that contract costs incurred for work
performed up to the reporting date bear to the estimated total contract costs. Provisions are made for anticipated losses, if any, for contracts to
be completed in future.
In respect of contracts-in-progress as at the year-end:
- the gross amount due from customers representing costs incurred plus recognised profits (less recognised losses) less progress billings have
been disclosed as ‘Unbilled revenue toward contracts in progress’ under “Trade receivables”.
- the gross amount due to customers representing progress billings less costs incurred less recognised profits (plus recognised losses) is
disclosed as ‘Billing in excess of costs and earnings in respect of unfinished contracts’ under “Other current liabilities”.
ii) Revenue from sale of products (parts and components sold separately) is recognised when significant risk and rewards of ownership are
transferred to the buyer as per the terms of respective sales contract and provided that income can be measured reliably and is expected to be
received.
iii) Revenue from other maintenance services is recognised on pro-rata basis over the contract period. Revenue for repair jobs is recognised
on completion of job.
iv) Revenue from engineering services is recognised as services are provided at hourly/day/ monthly rates.
v) Revenue from direct sales compensation represents commission earned towards marketing support services rendered to group companies
based on the terms of arrangement with the respective group companies. Revenue is recognised on fulfillment of terms of arrangement.
vi) Revenue from business support services, being income earned towards providing support services in the nature of testing and analysis,
employee charges, etc. primarily to group companies on which fixed margin is charged based on the total cost incurred. Revenue is
recognised as services are provided.
113
vii) Revenue from shared services income being income earned towards providing accounting services to group companies on which fixed
margin is charged based on the total cost incurred. Revenue is recognised as services are provided.
viii) The benefit accrued under various schemes as per export and import policy in respect of exports made is included as ‘Export incentive’,
provided there is reasonable certainty of its recoverability considering prevailing notification/circular issued by authorities.
2.8 Employee benefits
i) Provident Fund:
Contribution towards provident fund for employees is made to the regulatory authorities, where the Company has no further obligations.
Such benefits are classified as definedcontribution schemes as the Company does not carry any further obligations, apart from the
contributions made on a monthly basis.
ii) Gratuity:
The Company provides for gratuity, a defined benefit plan (the “Gratuity Plan”) covering eligible employees in accordance with the
Company’s gratuity policy. The Gratuity Plan provides a lumpsum payment to vested employees at retirement, death, incapacitation or
termination of employment, of an amount based on the respective employee’s salary and the tenure of employment. The Company’s liability
is actuarially determined (using the Projected Unit Credit method) by an independent actuary at the end of each year. Actuarial losses / gains
are recognised in the Statement of Profit and Loss in the year in which they arise.
iii) Compensated absences:
Accumulated compensated absences, which are expected to be availed or encashed within 12 months from the end of the year are treated as
short-term employee benefits. The obligation towards the same is measured at the expected cost of accumulating compensated absences as
the additional amount expected to be paid as a result of the unused entitlement as at the year end.
Accumulated compensated absences, which are expected to be availed or encashed beyond 12 months from the end of the year are treated as
other long-term employee benefits. The Company’s liability is actuarially determined by an independent actuary (using the Projected Unit
Credit method) at the end of each year. Actuarial losses / gains are recognised in the Statement of Profit and Loss in the year in which they
arise.
2.9. Current and deferred tax
Tax expense for the year, comprising current tax and deferred tax, are included in the determination of the net profit or loss for the period.
Current tax is measured at the amount expected to be paid to the tax authorities in accordance with the provisions of the Income-tax Act,
1961 and rules framed thereunder.
Deferred tax is recognised for all the timing differences, subject to the consideration of prudence in respect of deferred tax assets. Deferred
tax assets are recognised and carried forward only to the extent that there is a reasonable certainty that sufficient future taxable income will
be available against which such deferred tax assets can be realised. However, in situations where there are unabsorbed depreciation or carry
forward loss, all the deferred tax assets are recognised and carried forward only to the extent that there is a virtual certainty of sufficient
future taxable income supported with convincing evidence against which such assets can be realised. Deferred tax assets and liabilities are
measured using the tax rates and tax laws that have been enacted or substantively enacted by the Balance Sheet date. At each Balance Sheet
date, the Company re-assesses unrecognised deferred tax assets, if any.
Current tax assets and current tax liabilities are offset when there is a legally enforceable right to set off the recognised amounts and there is
an intention to settle the asset and the liability on a net basis. Deferred tax assets and deferred tax liabilities are offset when there is a legally
enforceable right to set off assets against liabilities representing current tax and where the deferred tax assets and the deferred tax liabilities
relate to taxes on income levied in accordance with the Income-tax Act, 1961 and rules framed thereunder.
2.10. Provisions and contingent liabilities
Provisions are recognised when there is a present obligation as a result of a past event, it is probable that an outflow of resources embodying
economic benefits will be required to settle the obligation and there is a reliable estimate of the amount of the obligation. Provisions are
measured at the best estimate of the expenditure required to settle the present obligation at the Balance Sheet date.
Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only
by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company or a present
obligation that arises from past events where it is either not probable that an outflow of resources will be required to settle or reliable estimate
of the amount cannot be made.
2.11. Leases
As a lessee:
Leases in which a significant portion of the risks and rewards of ownership are retained by the lessor are classified as operating leases.
Payments made under operating leases are charged to the Statement of Profit and Loss on a straight line basis over the period of the lease.
2.12. Segment reporting
The accounting policies adopted for segment reporting are in conformity with the accounting policies adopted for the Company.
114
Inter-segment revenue, if any, is accounted for based on the transaction price agreed to between segments which is primarily market based.
Revenue and expenses are identified to segments on the basis of their relationship to the operating activities of the segment. Revenue and
expenses, which relate to the Company as a whole and are not allocable to segments on a reasonable basis, are included under "Unallocable
revenue" and "Unallocable expenses" respectively.
2.13. Cash and cash equivalents
Cash and cash equivalents include cash in hand, demand deposits with banks, other short-term highly liquid investments with original
maturities of three months or less.
2.14. Earnings per share
Basic earnings per share is calculated by dividing the net profit or loss for the year attributable to equity shareholders by the weighted
average number of equity shares outstanding during the year. Earnings considered in ascertaining the Company’s earnings per share is the net
profit for the year after deducting preference dividends and any attributable tax thereto for the year. The weighted average number of equity
shares outstanding during the year and for all years presented is adjusted for events, such as bonus shares, other than the conversion of
potential equity shares that have changed the number of equity shares outstanding, without a corresponding change in resources. For the
purpose of calculating diluted earnings per share, the net profit or loss for the year attributable to equity shareholders and the weighted
average number of shares outstanding during the year is adjusted for the effects of all dilutive potential equity shares.
2.15. Use of estimates
The preparation and presentation of financial statements requires the management to make estimates and assumptions that affect the reported
amount of assets and liabilities and disclosures of contingent liabilities as on the date of the financial statements and reported amount of
revenue and expenses during the reporting period. Difference between the actual results and estimates is recognised in the period in which
the results are known / materialised.
2.16. Cash flow statement
Cash flows are reported using the indirect method, whereby profit before tax is adjusted for the effects of transactions of non-cash nature and
any deferrals or accruals of past or future cash receipts or payments. The cash flows from operating, investing and financing activities of the
Company are segregated based on the available information.
115
28(a) Contingent liabilities
Year ended Year ended
March 31, March 31,

2022 2021
(a) Contingent liabilities
Claims against the Company not acknowledged as debts
(i) Income tax matters under dispute being contested by the Company and / or in appeal 2,879 567
(ii) Goods and Service Tax matter under dispute being contested by the Company and / or in
287 -
appeal
(iii) Claims against the Company not acknowledged as debts 349 655
Notes:
A. Matters referred above, pertain to litigations / disputes with respective tax authorities. It is not practicable for the Company to estimate the
timings of cash outflows, if any, in respect of the above pending resolutions of the respective proceedings.
B. The Company has evaluated the impact of the Supreme Court Judgment in case of "Vivekananda Vidyamandir And Others Vs The
Regional Provident Fund Commissioner (II) West Bengal" and the related circular (Circular No. C-I/1(33)2019/Vivekananda Vidya
Mandir/284) dated March 20, 2019 issued by the Employees’ Provident Fund Organisation in relation to non-exclusion of certain allowances
from the definition of "basic wages" of the relevant employees for the purposes of determining contribution to provident fund under the
Employees' Provident Funds & Miscellaneous Provisions Act, 1952. In the assessment of the management, the aforesaid matter does not
have a significant impact on the company
(b) Capital and other commitments
March 31, 2022 March 31, 2021
Estimated value of contracts in capital account remaining to be executed - 10
29. CIF value of imports
March 31, 2022 March 31, 2021
116
CIF value of imports
Project material and traded components 14,814 6,932
14,814 6,932
30. Expenditure in foreign currency
March 31, 2022 March 31, 2021
Expenditure in foreign currency
Professional fees 183 27
Management fees 7,773 4,800
Royalty 2,229 934
IT charges (net) 1,397 3,507
Repairs and maintenance - others 6 20
Subcontractor charges, external resource cost, etc 859 257
Travelling 488 997
Rates and Taxes 1,405 -
Others 417 146
14,757 10,688
31. Earnings in foreign currency
117
March 31, 2022 March 31, 2021
Earnings in foreign currency
Direct sales compensation 849 881
Income from engineering services 56,698 45,741
Revenue from contracts relating to building efficiency and refrigeration plants 3,000 964
Income from maintenance services 32 104
Income from business support services 996 692
Income from shared services 27,522 14,156
89,097 62,538
32. Value of imported and indigenous materials consumed
Year ended March 31, 2022 Year ended March 31, 2021
Amount Percentage Amount Percentage
Imported 13,518 40.09 6,274 33.19
Indigenous 20,198 59.91 12,628 66.81
33,716 100.00 18,902 100.00
33. Disclosure under Accounting Standard 7 - Construction Contracts
March 31, 2022 March 31, 2021
Disclosure under Accounting Standard 7 - Construction Contracts
118
Contract revenue recognised for the year 46,074 23,833
Aggregate amount of contract costs incurred and recognised profits (less recognised 71,106 48,343
losses) up to the year end for all contracts in progress as at the year end
Amount of customer advance outstanding for contracts in progress as at the year end 2,322 3,507
Retention amounts due from customers for contracts in progress as at the year end 877 1,590
Due from Customers
Amount due from customers on contracts accounted under percentage of completion is
arrived at as below [for all contracts in progress for which costs incurred plus recognised
profits (less recognised losses) exceeds progress billings]
losses) up to the year end
Less: Aggregate amount of progress billings 33,224 24,511
Total 8,500 6,201
Due to Customers
Amount due to customers on contracts accounted under percentage of completion is
arrived at as below [for all contracts in progress for which progress billings exceeds costs
incurred plus recognised profits (less recognised losses)]
Aggregate amount of progress billings 32,331 19,323
Less: Aggregate amount of contract costs incurred and recognised profits (less recognised 29,382 17,631
119
2,949 1,692
34. Segment reporting
Business segments have been identified as reportable primary segments in accordance with Accounting Standard - 17 'Segment Reporting'
taking into account the organisation and internal reporting structure as well as evaluation of risks and returns from these segments. Segment
accounting policies are in line with the accounting policies of the Company. The Company operates in following business segments:
(a) Building efficiency consists of

- providing building automation systems, fire alarm systems, access control and security surveillance systems including allied equipment,
components and spares thereof
- turnkey contracts to install and maintain above system
- supply/erection and commissioning of Refrigeration plants and trading of Air conditioning chillers and spares and services required for all
such Refrigeration plants
- maintenance services in respect of above
(b) Engineering services - consists of providing customised engineering solutions (such as provision of on-site field engineering resources for
projects and commissioning activities, off-site engineering for controls, fire and security, development and testing of purpose-built software
solutions and tools, analysis and consulting services, primarily around energy solutions among other services) primarily to group companies
and others.
(c) Shared services - consists of providing accounting services to group companies.
(d) Others - comprises of income from business support services to group companies in the nature of employee charges, rent costs etc.
Primary segments (Business segments):
Particulars 2021-2022 2020-2021
Shared Shared
Building Engineering Building Engineering
service Others Total service Others Total
Efficiency Services Efficiency Services
center center
External revenue 67,447 57,012 27,837 1,575 153,871 40,617 45,878 14,507 1,500 102,502
Other operating
849 500 - - 1,349 881 368 - - 1,249
revenue
Total revenue 68,296 57,512 27,837 1,575 155,220 41,498 46,246 14,507 1,500 103,751
Segment results 1,074 15,398 4,246 75 20,793 (8,686) 13,206 2,509 71 7,100
Less: Financial
3,311 3,422
charges
Add: Unallocated
(1,587) (1,187)
income (net)
Segment assets 34,861 9,262 16,030 292 60,445 29,185 7,147 4,364 273 40,969
120
Unallocated assets 32,593 29,200
Segment liabilities 30,117 7,591 2,671 - 40,379 25,238 7,976 2,905 - 36,119
Unallocated
20,210 24,832
liabilities
Total liabilities 60,589 60,951
Capital expenditure 1,722 119 - - 1,841 5 45 28 - 78
Depreciation and
amortisation 133 142 136 - 411 295 228 124 - 647
expense
Significant
non-cash 1,107 - - - 1,107 674 - - - 674
expenditure
Secondary segments (Geographical segments):
Particulars 2021-2022 2020-2021
Domestic Overseas Total Domestic Overseas Total
Segment revenues 66,123 89,097 103,751

155,220 41,213 62,538
Carrying amount of
71,209 21,830 70,169
assets 93,038 55,708 14,461
Capital expenditure 1,841 - 78 - 78

1,841
The segment revenue and assets in the geographical segments considered for disclosure are as follows:
- Domestic revenue comprises of revenue from services rendered and products sold to customers within India
- Overseas revenue comprises of revenue from services rendered and products sold to customers located outside India
Segment revenue and assets include the amounts identified to each group of the segments and allocated on a reasonable basis.
35. Related party disclosures
As per Accounting Standard - 18 'Related Party Disclosures', the Company's related parties and transactions are disclosed below:
A. Parties where control exists

Johnson Controls (Mauritius) Private Limited (the Holding Company upto March 25, 2022) [Refer Note 3(i)]
121
Johnson Controls International PLC, the Ultimate Holding Company

Johnson Controls Inc., USA, the intermediate holding company
Johnson Controls International BV, (the intermediate holding company upto March 25, 2022)
Johnson Controls Holding Company Inc., USA, (the intermediate holding company upto March 25, 2022, the Holding Company w.e.f.
March 26, 2022) [Refer Note 3(i)]
B. Parties under common control (Fellow subsidiaries) with whom transactions have taken place during the year / previous year
ADT Fire and Security PLC
ADT Security Limited
Air System Components Inc
Al Salem Air Conditioning Company Limited, UAE
Al Salam York Services Co. LTD
Johnson Controls (China) Investment Co. Limited
Johnson Controls (M) Sdn Bhd, Malaysia

Johnson Controls (S) Pte Limited, Singapore
Johnson Controls Air Conditioning and Refrigeration (Qatar) LLC
Johnson Control Air Conditioniong & Refrigeration FZE, Dubai
Johnson Controls Australia Pty Limited
Johnson Controls Building Automation Systems LLC, USA
Johnson Controls Chile S.A.A
Johnson Controls Espana SL
Johnson Controls International Inc
Johnson Controls France S.A.S.
Johnson Controls BE Operations
Johnson Controls Colombia LTDA
Johnson Controls Inc AP
JC BE Wuxi Controls Eng PM LC
Johnson Controls,York Navy System
Johnson Controls Technology GmbH
Johnson Controls Business
Johnson Controls Industries
Johnson Controls Holding (S) Pte Limited, Singapore
Johnson Controls Inc., Belgium
Johnson Controls Inc., Controls Group (Japan)
Johnson Controls International (Thailand) Company Limited
Johnson Controls International LLC, Dubai
Johnson Controls Sa/Nv Belgium
Johnson Controls SA de CV, Mexico
Johnson Controls Systems & Services BV, Netherlands
Johnson Controls Systems & Services GmbH, Germany
Johnson Controls Systems and Service Italy SRL
Johnson Controls Systems Limited, UK
Johnson Controls World Services (Thailand) Company Limited
Johnson Controls Air Conditioning and Refrigeration Inc., Dubai
Johnson Controls BE do Brasil Ltda
Johnson Controls Denmark ApS
Johnson Controls GmbH
Johnson Controls Hong Kong Ltd.
Johnson Controls HQ Holding BVBA
Johnson Controls International NV
Johnson Controls Peru S.R.L
Johnson Controls LP
Johnson Controls Automotive Electronics GmbH
Johnson Controls Bahrain SPC
Johnson Controls-Hitachi Air Conditioning India Limited
Johnson Controls Building Efficiency Limited, UK
Johnson Controls International spol. s.r.o
PT. Johnson Controls Indonesia
Rolastar Pvt Ltd
Ruskin Titus India Private Limited
Ruskin Rooftop Systems, Inc.
Tyco Fire Products LP
122
Tyco New Zeland Limited

Tyco Safety Products Canada Ltd.
Tyco Fire And Security India Private Limited
Tyco Safety Products India Private Limited
Tyco Fire & Security Gmbh
TEPG Pte Ltd
Thorn Security Limited
York ESG North America
York (China) Commercial Company Limited
York (Shanghai) Air Conditioning and Refrigeration International Trading Company Limited
York Guangzhou Air Conditioning and Refrigeration Company Limited
York International (Northern Asia) Limited
York International Corporation, USA
York Latin America
York Wuxi Air Conditioning And Refrigeration Company Limited, China
Qolsys Softwares India Private Limited
C. Key management personnel

Shrikant Bapat (upto July 26, 2022)
Shyam Sundar Mariappan (upto August 26, 2022)
Arun Awasthy (w.e.f. July 26, 2022)
Murugesan Mottaiyan (w.e.f. August 11, 2022)
Sivakumar Selva Ganapathy (w.e.f. August 11, 2022)
123
D. Details of transactions during the year and closing balances as at the year end
Parties Parties
Key
where under
Particulars Management Total
control common
Personnel
exists control
2021-22 2020-2021 2021-22 2020-2021 2021-22 2020-2021 2021-22 2020-2021
Income from engineering

services
Johnson Controls Inc., USA 34,194 29,770 - - - - 34,194 29,770
York International Corporation - - 1,005 4,443 - - 1,005 4,443
Others - - 21,602 11,506 - - 21,602 11,506
Total 34,194 29,770 22,607 15,949 - - 56,801 45,719
Revenue from contracts relating

to building efficiency and
Johnson Controls Building

- - 177 694 - - 177 694
Efficiency Limited, UK
Johnson Controls-Hitachi Air

- - 52 267 - - 52 267
Conditioning India Limited
Others - - 10 49 - - 10 49
Total - - 239 1,010 - - 239 1,010
Sale of products
(chillers/compressor)

- - 1,220 99 - - 1,220 99
Others - - 7 - - - 7 -
Total - - 1,227 99 - - 1,227 99
Income from business support

services
Johnson Controls Inc., USA 201 46 - - - - 201 46
124
Tyco Fire And Security India - - 496 736 - - 496 736

Private Limited
York International Corporation,

- - 179 121 - - 179 121
USA
Al Salem Air Conditioning

- - 183 110 - - 183 110
Company Limited, UAE
Johnson Controls Air

Conditioning and Refrigeration - - 263 273 - - 263 273
Inc., Dubai
Others - - 253 214 - - 253 214
Total 201 46 1,374 1,454 - - 1,575 1,500
Income from shared service
Johnson Controls International

6,279 3,175 - - - - 6,279 3,175
PLC

- - 2,156 1,185 - - 2,156 1,185
spol sro
Johnson Controls HQ Holding

- - 1,420 2,470 - - 1,420 2,470
BVBA
Tyco Fire And Security India

- - 311 351 - - 311 351
Private Limited
Tyco Fire & Security Gmbh - - 3,713 - - - 3,713 -
Others - - 2,346 809 - - 2,346 809
Total 17,891 9,692 9,946 4,815 - - 27,837 14,507
Direct sales compensation
Johnson Controls (S) Pte

- - 842 881 - - 842 881
Limited, Singapore
York (Shanghai) Air

Conditioning and Refrigeration
- - 7 @ - - 7 @
International Trading Company
Limited
Total - - 849 881 - - 849 881
125
Income from maintenance

services

- - - 16 - - - 16
Efficiency UK Limited

- - - 4 - - - 4
Others - - - 89 - - - 89
Total - - - 109 - - - 109
Purchase of goods
York (Shanghai) Air

- - 1,557 1,552 - - 1,557 1,552
Limited
York Guangzhou Air

Conditioning and Refrigeration - - 3,981 1,266 - - 3,981 1,266
Company Limited
York Wuxi Air Conditioning And

Refrigeration Company Limited, - - 250 266 - - 250 266
China

- - 165 11 - - 165 11
USA
Tyco Safety Products India

- - 2,092 1,797 - - 2,092 1,797
Private Limited

- - 2,280 25 - - 2,280 25
Others - - 3,016 2,074 - - 3,016 2,074
Total 653 793 13,341 6,991 - - 13,994 7,784
Parties Parties
Key
where under
control common
Personnel
exists control
2021-22 2020-2021 2021-22 2020-2021 2021-22 2020-2021 2021-22 2020-2021
126
York Guangzhou Air

Conditioning and Refrigeration - - 89 - - - 89 -
Company Limited

Refrigeration Company Limited, - - 15 - - - 15 -
China

- - 15 - - - 15 -
Private Limited
TEPG Pte Ltd - - - 3 - - - 3
Others - - 11 15 - - 11 15
Total - - 130 18 - - 130 18
Interest income

- - 94 97 - - 94 97
Limited

- - 868 635 - - 868 635
Private Limited
Total - - 962 732 - - 962 732
Loans and advances given

- - 850 - - - 850 -
Limited
Total - - 850 - - - 850 -
Loans renewed

- - 1,500 1,500 - - 1,500 1,500
Limited
Total - - 1,500 1,500 - - 1,500 1,500
Loans given / (repaid) under

cash pool arrangements (net)

- - (796) 6,198 - - (796) 6,198
Private Limited
Total - - (796) 6,198 - - (796) 6,198
127

- - - 344 - - - 344
Private Limited
Qolsys Softwares India Private

- - 60 - - - 60 -
Limited
Total - - 60 344 - - 60 344
Repayment of short-term
borrowings

- - 963 0 - - 963 0
Private Limited
Total - - 963 0 - - 963 0
Interest on fully and compulsory

convertible unsecured
debentures
Johnson Controls Holding

2,681 2,704 - - - - 2,681 2,704
Company Inc, USA
Total 2,681 2,704 - - - - 2,681 2,704
Conversion of compulsory
convertible debentures into
equity

9,111 - - - - - 9,111 -
Company Inc, USA
Total 9,111 - - - - - 9,111 -
Interest expense

- - 344 440 - - 344 440
Private Limited

- - 7 - - - 7 -
Limited
Total - - 351 440 - - 351 440
Management fees

- 2,310 - - - - - 2,310
Plc
128
Total 7,773 4,800 - - - - 7,773 4,800
IT charges

- - 32 26 - - 32 26
spol. s.r.o

- 72 99 - - - 99 72
BV
Others - - 1 61 - - 1 61
Total 1,244 2,992 132 87 - - 1,376 3,079
Royalty
Tyco Fire & Security Gmbh - - 2,229 934 - - 2,229 934
Total - - 2,229 934 - - 2,229 934
Parties Parties
Key
where under
control common
Personnel
exists control
2021-22 2020-2021 2021-22 2020-2021 2021-22 2020-2021 2021-22 2020-2021
Rates and Taxes
Johnson Controls Inc. 1,405 - - - - - 1,405 -
Total 1,405 - - - - - 1,405 -
Reimbursement of Expenses
(done on our behalf)
Johnson Controls Inc., USA 1,136 481 - - - - 1,136 481

- - 1,420 735 - - 1,420 735
Private Limited

- - 126 - - - 126 -
spol. s.r.o
Others - - 1,044 248 - - 1,044 248
129
Total 1,136 481 2,590 984 - - 3,726 1,464
Managerial Remuneration
Shrikant Bapat - - - - 235 - 235
Shyam Sundar Mariappan - - - - 95 - 95
Total - - - - - 330 - 330
Closing balances as at year end
Parties Parties
Key
where under
control common
Personnel
exists control
2021-22 2020-2021 2021-22 2020-2021 2021-22 2020-2021 2021-22 2020-2021
Receivables

7,139 847 - - - - 7,139 847
Plc
Thorn Security Limited - - 1,260 729 - - 1,260 729

- - - 227 - - - 227

- - 543 413 - - 543 413
Limited, Singapore
York International Corporation - - 878 626 - - 878 626

- - 400 176 - - 400 176
Private Limited
Tyco Fire & Security Gmbh - - 621 - - - 621 -
Others - - 1,452 2,886 - - 1,452 2,886
Total 15,133 5,867 5,154 5,057 - - 20,287 10,924
Payables
130

2,814 2,263 - - - - 2,814 2,263
Plc

- - - 14 - - - 14
spol. s.r.o
York (Shanghai) Air

- - 529 420 - - 529 420
Limited

Refrigeration Company - - 433 190 - - 433 190
Limited, China
York Guangzhou Air

Company Limited

- - 176 192 - - 176 192
USA
Johnson Controls Denmark

- - - 89 - - - 89
ApS

- - - - - - - -
Inc

- - 421 1,202 - - 421 1,202
Private Limited
Others - - 1,036 728 - - 1,036 728
Total 4,987 3,144 4,200 2,874 - - 9,188 6,019
Parties Parties
Key
where under
control common
Personnel
exists control
2021-22 2020-2021 2021-22 2020-2021 2021-22 2020-2021 2021-22 2020-2021
Advance from customer

- - - 162 - - - 162
Total - - - 162 - - - 162
131
Unbilled Revenue

- - - 43 - - - 43
Others - - - 7 - - - 7
Total - - - 50 - - - 50
Unearned Revenue

- - - 31 - - - 31

- - - 1 - - - 1
Others - - - 11 - - - 11
Total - - - 42 - - - 42
Other Receivables

- - 319 119 - - 319 119
Private Limited
Johnson Controls Inc., USA 134 - - - - - 134 -

- - 39 - - - 39 -

- - 32 - - - 32 -
Limited, Singapore
Others - - 30 - - - 30 -
Total 134 - 421 119 - - 555 119
Interest accrued but not due on

borrowings

582 595 - - - - 582 595
Company Inc., USA

- - 24 38 - - 24 38
Private Limited

- - 6 - - - 6 -
Limited
132
Total 582 595 30 38 - - 612 633
Loans and advances

- - 2,350 1,500 - - 2,350 1,500
Limited

- - 11,004 11,800 - - 11,004 11,800
Private Limited
Total - - 13,354 13,300 - - 13,354 13,300
Interest receivable on loans to

related parties

- - 68 68 - - 68 68
Private Limited

- - 29 33 - - 29 33
Limited
Total - - 97 101 - - 97 101

- - 4,758 5,721 - - 4,758 5,721
Private Limited

- - 60 - - - 60 -
Limited
Total - - 4,818 5,721 - - 4,818 5,721
Debentures outstanding

10,000 19,111 - - - - 10,000 19,111
Company Inc., USA
Total 10,000 19,111 - - - - 10,000 19,111
36. Disclosure under Accounting Standard 19 'Leases'
The Company has entered into cancellable and non-cancellable leasing arrangements for office premises,computers and other
equipments.The lease rental of 8,165 (Previous year: 8,127) has been included in 'Rent' under 'Other expenses' in note 26.
Future minimum lease payments payable in respect of non-cancellable period are as under:
133
March 31, 2022 March 31, 2021
(i) Payable not later than 1 year 9,823 7,505
(ii) Payable later than 1 year and not later than 5 years 10,971 8,887
(iii) Payable later than 5 years - -
37. Provision for warranty, contingencies and forseeable losses
Provision for Forseeable

Warranty
contingencies losses
Year ended Year ended Year ended Year ended Year ended Year ended
March 31, March 31, March 31, March 31, March 31,
March 31, 2022
2022 2021 2021 2022 2021
Balances as at the beginning of

200 186 901 805 33 186
the year
Additions 596 178 337 260 4 33
Reversals - - 128 - - -
Utilizations 327 164 - 164 20 186
Balances as at the end of the

469 200 1,110 901 17 33
year
Warranty provision covers the estimated expenses on repairs and maintenance of the equipments installed. The amount is determined on the
basis of technical estimates. Future cash flows in respect of warranties are expected to occur over the period of warranty. Unutilised balances,
if any, are written back on expiry of the commitment.
Provision for contingencies represents provision for litigations/disputes or likely claims with value added tax, goods and service tax, service
tax and sales tax authorities, the outflow of which would depend on resolution of these litigations/ disputes or likely claims.
Forseeable losses on contracts are provided for as per the Company's policy as explained in note 2.7 (i).
37A. Employees stock option and purchase plans
Some of the current employees of the Company have been granted Restricted Share Units (RSU's) that represent the right to receive cash at a
value equivalent to the shares of the ultimate parent company Johnson Controls International Plc. (JCI), Ireland, on respective vesting dates.
On each annual grant date, the said employees are eligible for restricted share units which vest ratably over three years. On each vest date, the
cash equivalent value of one JCI ordinary shares per RSU vested is paid to the employee less applicable taxes. In respect of this, the
Company has paid costs amounting to 84 based on the advice received from JCI.
134
i) Disclosures in relation to corporate social responsibility expenditure
Particulars 31-Mar-22 31-Mar-21
Contribution made to Ekansh Trust - Zero Hunger 10 -
Contribution made to Happy World Foundation -

7
Contribution made to Aashray - Durg -

3
Contribution made to Lila Poonawala Foundation, Pune 27 -
Contribution made to IIT Kanpur - Research and Development -

58
Contribution made to Lila Poonawala Foundation - Charitable Contribution for Higher education
-
for girls 9
Total 47
67
Amount required to be spent as per Section 135 of the Act 86

67
Amount spent during the year on:
(a) Construction / acquistion of any asset - -
(b) On purpose other than (a) above paid 47

67
Amount deposited in specified fund of schedule VII of the Act within 6 months [Refer Note in
- -
paragraph (ii) below]
Accrual towards unspent obligations in relation to:
Ongoing project - -
Other than ongoing projects 39 -
135
Provision towards towards shortfall in CSR obligation:
Opening balance - -
Less: Utilisation during the year - -
Add: Provision during the year 39
Closing balance 39 -
ii) Details of CSR expenditure under Section 135(5) of the Act in respect of other than ongoing projects
Opening Closing
Year Amount deposited in specified fund of Amount required to be Amount spent
unspent unspent
ended schedule VII of the Act within 6 months spent during the year during the year
balance balance
March
31, - - 86 47 39
2022
'Note: The Company was required to spend 86 in the current year towards Corporate Social Responsibility under Section 135(5) of the Act.
The Company spent 47 during the year and balance amount of 39 remains unspent as at the year end. Subsequent to year-end, the Company
has inadvertently spent the unspent amount of 39 for an activity specified under Schedule VII for promoting healthcare instead of depositing
the amount to a Fund specified in Schedule VII. However the Company is committed to its social responsibility and endeavour to utilise the
allocable CSR spend for the benefit of society.
iii) No contribution is made to related parties for any CSR projects
iv) Nature of CSR activities [Refer note 38(i) above]
v) Reasons for shortfall
Refer Note in paragraph (ii) above
vi) The company has not undertaken any ongoing projects towards CSR during the current year and previous year.
39. According to Foreign Exchange Management Act, 1999 and applicable guidance issued by the Reserve Bank of India, payment on
account of Import of goods / services cannot be delayed beyond the period of 6 months from the date of Import unless necessary intimation
made/ approvals obtained from Authorised Dealer/Reserve Bank of India.
As at March 31, 2022, foreign currency trade payables amounting to 175 is outstanding for more than 6 months from the date of import. The
Company has obtained an extension of time from the Authorised Dealers for settlement of payables aggregating to 34 being outstanding for
more than 6 months but less than 3 years. Also, the Company is yet to apply to RBI seeking permission for extension of time period for
settlement of the payables aggregating to 141 being outstanding for more than 3 years.
40. Dues to micro and small enterprises
The Company has certain dues to suppliers registered under Micro, Small and Medium Enterprises Development Act, 2006 ('MSMED Act').
The disclosures pursuant to the said MSMED Act are as follows:
As at As at
March 31,
March 31, 2022
2021
136
Principal amount due to suppliers registered under the MSMED Act and remaining unpaid as
at year end 2,758 346
Interest on above principal amount due to suppliers registered under the MSMED Act and
remaining unpaid as at year end 61 4
Principal amounts paid to suppliers registered under the MSMED Act, beyond the appointed
day during the year 9,018 1,762
Interest paid, other than under Section 16 of MSMED Act, to suppliers registered under the
- -
MSMED Act, beyond the appointed day during the year
Interest paid, under Section 16 of MSMED Act, to suppliers registered under the MSMED Act,
- -
beyond the appointed day during the year
Amount of interest due and payable for the period of delay in making payment (which have
been paid but beyond the appointed day, during the year) but without adding the interest - -
specified under the MSMED Act
Interest accrued and remaining unpaid at the end of each accounting year (not due) - -
Amount of further interest remaining due and payable even in succeeding years, until such
date when the interest dues above are actually paid to small enterprises, for the purpose of 530
422
disallowance of a deductible expenditure under Section 23 of the MSMED Act.
The above information regarding micro and small enterprises has been determined on the basis of information available with the Company
regarding the registration status of vendors as micro and small enterprises under MSMED Act.
41. Particulars of unhedged foreign currency exposure
Foreign Currency Amount Foreign Currency Amount
Receivables USD (in lakhs) 285 21,570 136 10,011
EUR (in lakhs) 2 169 1 50
137
CAD (in lakhs) 1 56 1 40
GBP (in lakhs) @ 35 43 4,360
Payables USD (in lakhs) 96 7,279 76 5,574
EUR (in lakhs) 2 169 1 114
CNY (in lakhs) 33 393 11 123
GBP (in lakhs) 2 199 1 106
MYR (in lakhs) - - @ 1
SGD (in lakhs) @ 1 - -
AUD (in lakhs) 1 54 - -
DKK (in lakhs) 2 26 - -
Bank balance USD (in lakhs) @ 20 14 1,056
42. The Company has maintained the books and accounts and other books and papers in electronic mode. The servers hosting the ERP are
located in the United States of America. However, the Companies Act, 2013 requires that the backup of the books of accounts and other
books and papers maintained in electronic mode shall be maintained on servers physically located in India periodically. However, no such
backup is maintained by the Company on servers physically located in India.
43. Johnson Controls India Private Limited, Tyco Fire & Security India Private Limited and Tyco Safety Products India Private Limited have
entered into a cash pool arrangement vide agreement dated October 19, 2019 wherein monies are lent/ borrowed amongst them on a daily
basis considering the cash flow requirements of each entity. The entity Qolsys Softwares India Private Limited was added to the cash pool
arrangement vide agreement dated March 29, 2021. This arrangement is facilitated by Bank of America. The net interest position due to this
arrangement is as under :
As at As at
March 31, 2022 March 31, 2021
Interest income on cash pool arrangement 868 635
Interest expense on cash pool arrangement (341) (440)
Net interest income/ (expense) 527 195
44. Johnson Controls Marine and Refrigeration India Limited ("JCMRIL") was amalgamated with Johnson Controls (India) Private Limited
("Company") w.e.f appointed date of April 1, 2017 pursuant to the Scheme of the amalgamation approved by National Company Law
138
Tribunal vide its order dated July 24, 2018.
Prior to April 1, 2014, JCMRIL had entered into transactions of purchase of goods and services received and sale of goods and service
rendered with the Company in which a Director of JCMRIL was interested as a Director. JCMRIL had, inadvertently not obtained the prior
approval from the Central Government of India as required under Section 297 of the Companies Act, 1956 for transactions of purchase of
goods and services received over number of years aggregating to 2,849 and sale of goods and services rendered aggregating to 714. During
the year, the company has filed for the compounding application with regards to non-compliance with Section 297 of the Companies Act,
1956 by Johnson Controls Marine and Refrigeration India Limited ("JCMRIL").
45. Utilisation of Borrowed funds and share premium
(A) The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of
funds) to any other person(s) or entity(ies), including foreign entities (“Intermediaries”) with the understanding(whether recorded in writing
or otherwise) that the Intermediary shall
(i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company
(“Ultimate Beneficiaries”); or
(ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries;
(B) The Company has not received any fund from any person(s) or entity(ies), including foreign entities (“Funding Party”) with the
understanding (whether recorded in writing or otherwise) that the company shall
(i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party
(Ultimate Beneficiaries); or
(ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries
46. Financial Ratios
139
The ratios for the years ended March 31, 2022 and March 31, 2021 are as follows:
Reason
Year Year
Ratio Numerator Denominator for
ended ended
Variance
March March
31, 31,
2022 2021
Current
Total Current Not applicable as variance is less than
Ratio Total Current Assets 1.75 1.54 13.26%
Liabilities 25%
(times)
The change in ratio is on account of

Debt-Equity Total Debt (Long-term
Shareholders' conversion of fully and compulsorily
Ratio and short-term 2.69 83.05%
equity 0.46 convertible unsecured debentures into
(times) borrowings)
equity shares [Also refer Note 3(i)].
The change in ratio is on account of

Earnings available for
Debt Debt Service increase in earnings before interest and
debt service (Profit
service (Finance cost taxes as compared to the previous year led
before tax +
coverage paid + Principal 0.50 1045.28% by improvement in operations, increase in
Depreciation and 5.76
ratio repayment of gross margins, optimisation of fixed costs
amortisation expense
(times) borrowings) and lower debt service in the current year
+ Finance costs)
as compared to the previous year.
The ratio has improved on account of

Return on Average
increase in profits as compared to the
equity ratio Profit for the year Shareholders' 67.78% 37.42% 81.13%
previous year led by improvement in
(%) equity
operations and optimisation of fixed costs.
Cost of goods sold= The ratio has improved on account of

Inventory
Cost increase in operations of building efficiency
turnover Average
of materials consumed 8.47 105.39% and refrigeration plants and reduction in
ratio inventories 17.39
+ inventory levels in the current year as
(times)
Cost of traded items compared to the previous year.
Trade
receivables Revenue from
Average trade increase in revenue and better collections
turnover operations (excluding 2.86 31.30%
receivables 3.75 in the current year as compared to the
ratio export incentives)
previous year.
(times)
Purchase of Raw
Trade
Materials+
payables The change in ratio is on account of better
Purchases of Average trade
turnover 2.55 37.10% trade payables payout during the year as
stock-in-trade+ Other payables 3.50
ratio compared to the previous year.
expenses + Staff
(times)
welfare expenses
Net capital
turnover Revenue from Average Not applicable as variance is less than
5.41 1.63%
ratio operations working capital 5.50 25%
(times)

increase in profits as compared to the
Net profit
Profit for the year Total Income 8.99% 2.76% 225.82% previous year led by improvement in
140
ratio (%) operations, increase in gross margins and

optimisation of fixed costs.
Capital
Employed =
Return on increase in earning before interest and
Tangible Net
capital Earning before interest taxes as compared to the previous year led
worth (Total 33.34% 24.34% 36.99%
employed and taxes by improvement in operations, increase in
Shareholders'
(%) gross margins and optimisation of fixed
equity +
costs.
borrowings)
Return on
Average Not applicable as variance is less than
investment Interest Income 7.22% 7.18% 0.59%
Investments 25%
(%)
47. The matters other than those disclosed as required under paragraph 'Y - Additional Regulatory Information under Part I of Division I of
Schedule Ill of the Companies Act. 2013 and Paragraph 5(ix) to 5(xi) of Part Il of Division I of Schedule Ill to Companies Act 2013 are either
not applicable or there are no reportable matters.
48. Previous year figures have been reclassified / regrouped, wherever necessary, to conform to current year's classification.
'@' represents amounts below rounding off norms adopted by the Company.
[201700] Notes - Government grants

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31/03/2022 31/03/2021
Disclosure of notes on government grants explanatory [TextBlock]
Capital subsidies or grants received from government authorities 0 0
Revenue subsidies or grants received from government authorities 0 0
[202300] Notes - Amalgamation

01/04/2021
to
31/03/2022
Disclosure of notes on amalgamations explanatory [TextBlock] [See below]
Disclosure of notes on amalgamations explanatory [Text Block]

44. Johnson Controls Marine and Refrigeration India Limited ("JCMRIL") was amalgamated with Johnson Controls (India) Private Limited
("Company") w.e.f appointed date of April 1, 2017 pursuant to the Scheme of the amalgamation approved by National Company Law
Tribunal vide its order dated July 24, 2018.
Prior to April 1, 2014, JCMRIL had entered into transactions of purchase of goods and services received and sale of goods and service
rendered with the Company in which a Director of JCMRIL was interested as a Director. JCMRIL had, inadvertently not obtained the prior
approval from the Central Government of India as required under Section 297 of the Companies Act, 1956 for transactions of purchase of
goods and services received over number of years aggregating to 2,849 and sale of goods and services rendered aggregating to 714. During
the year, the company has filed for the compounding application with regards to non-compliance with Section 297 of the Companies Act,
1956 by Johnson Controls Marine and Refrigeration India Limited ("JCMRIL").
141
[201200] Notes - Employee benefits

01/04/2021
to
31/03/2022
Disclosure of employee benefits explanatory [TextBlock] [See below]
Disclosure of employee benefits explanatory [Text Block]

2.8 Employee benefits
i) Provident Fund:
Contribution towards provident fund for employees is made to the regulatory authorities, where the Company has no further obligations.
Such benefits are classified as definedcontribution schemes as the Company does not carry any further obligations, apart from the
contributions made on a monthly basis.
ii) Gratuity:
The Company provides for gratuity, a defined benefit plan (the “Gratuity Plan”) covering eligible employees in accordance with the
Company’s gratuity policy. The Gratuity Plan provides a lumpsum payment to vested employees at retirement, death, incapacitation or
termination of employment, of an amount based on the respective employee’s salary and the tenure of employment. The Company’s liability
is actuarially determined (using the Projected Unit Credit method) by an independent actuary at the end of each year. Actuarial losses / gains
are recognised in the Statement of Profit and Loss in the year in which they arise.
iii) Compensated absences:
Accumulated compensated absences, which are expected to be availed or encashed within 12 months from the end of the year are treated as
short-term employee benefits. The obligation towards the same is measured at the expected cost of accumulating compensated absences as
the additional amount expected to be paid as a result of the unused entitlement as at the year end.
Accumulated compensated absences, which are expected to be availed or encashed beyond 12 months from the end of the year are treated as
other long-term employee benefits. The Company’s liability is actuarially determined by an independent actuary (using the Projected Unit
Credit method) at the end of each year. Actuarial losses / gains are recognised in the Statement of Profit and Loss in the year in which they
arise.
37A. Employees stock option and purchase plans
Some of the current employees of the Company have been granted Restricted Share Units (RSU's) that represent the right to receive cash at a
value equivalent to the shares of the ultimate parent company Johnson Controls International Plc. (JCI), Ireland, on respective vesting dates.
On each annual grant date, the said employees are eligible for restricted share units which vest ratably over three years. On each vest date, the
cash equivalent value of one JCI ordinary shares per RSU vested is paid to the employee less applicable taxes. In respect of this, the
Company has paid costs amounting to 84 based on the advice received from JCI.
[201800] Notes - Borrowing cost

01/04/2021
to
31/03/2022
Disclosure of notes on borrowing costs explanatory [TextBlock] [See below]
142
Disclosure of notes on borrowing costs explanatory [Text Block]

2.3. Borrowing costs
General and specific borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets
that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of such assets, until such
time as the assets are substantially ready for their intended use. All other borrowing costs are recognised in Statement of Profit and Loss in
the period in which they are incurred.
[201300] Notes - Segments

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31/03/2022
Disclosure of enterprise's reportable segments explanatory [TextBlock] [See below]
143
Disclosure of enterprise's reportable segments explanatory [Text Block]

2.12. Segment reporting
The accounting policies adopted for segment reporting are in conformity with the accounting policies adopted for the Company.
Inter-segment revenue, if any, is accounted for based on the transaction price agreed to between segments which is primarily market based.
Revenue and expenses are identified to segments on the basis of their relationship to the operating activities of the segment. Revenue and
expenses, which relate to the Company as a whole and are not allocable to segments on a reasonable basis, are included under "Unallocable
revenue" and "Unallocable expenses" respectively.
34. Segment reporting
Business segments have been identified as reportable primary segments in accordance with Accounting Standard - 17 'Segment Reporting'
taking into account the organisation and internal reporting structure as well as evaluation of risks and returns from these segments. Segment
accounting policies are in line with the accounting policies of the Company. The Company operates in following business segments:
(a) Building efficiency consists of

- providing building automation systems, fire alarm systems, access control and security surveillance systems including allied equipment,
components and spares thereof
- turnkey contracts to install and maintain above system
- supply/erection and commissioning of Refrigeration plants and trading of Air conditioning chillers and spares and services required for all
such Refrigeration plants
- maintenance services in respect of above
(b) Engineering services - consists of providing customised engineering solutions (such as provision of on-site field engineering resources for
projects and commissioning activities, off-site engineering for controls, fire and security, development and testing of purpose-built software
solutions and tools, analysis and consulting services, primarily around energy solutions among other services) primarily to group companies
and others.
(c) Shared services - consists of providing accounting services to group companies.
(d) Others - comprises of income from business support services to group companies in the nature of employee charges, rent costs etc.
Primary segments (Business segments):
Particulars 2021-2022 2020-2021
Shared Shared
Building Engineering Building Engineering
service Others Total service Others Total
Efficiency Services Efficiency Services
center center
External revenue 67,447 57,012 27,837 1,575 153,871 40,617 45,878 14,507 1,500 102,502
Other operating
849 500 - - 1,349 881 368 - - 1,249
revenue
Total revenue 68,296 57,512 27,837 1,575 155,220 41,498 46,246 14,507 1,500 103,751
Segment results 1,074 15,398 4,246 75 20,793 (8,686) 13,206 2,509 71 7,100
Less: Financial
3,311 3,422
charges
Add: Unallocated
(1,587) (1,187)
income (net)
144
Segment assets 34,861 9,262 16,030 292 60,445 29,185 7,147 4,364 273 40,969
Unallocated assets 32,593 29,200
Segment liabilities 30,117 7,591 2,671 - 40,379 25,238 7,976 2,905 - 36,119
Unallocated
20,210 24,832
liabilities
Total liabilities 60,589 60,951
Capital expenditure 1,722 119 - - 1,841 5 45 28 - 78
Depreciation and
amortisation 133 142 136 - 411 295 228 124 - 647
expense
Significant
non-cash 1,107 - - - 1,107 674 - - - 674
expenditure
Secondary segments (Geographical segments):
Particulars 2021-2022 2020-2021
Domestic Overseas Total Domestic Overseas Total
Segment revenues 66,123 89,097 103,751

155,220 41,213 62,538
Carrying amount of
71,209 21,830 70,169
assets 93,038 55,708 14,461
Capital expenditure 1,841 - 78 - 78

1,841
The segment revenue and assets in the geographical segments considered for disclosure are as follows:
- Domestic revenue comprises of revenue from services rendered and products sold to customers within India
- Overseas revenue comprises of revenue from services rendered and products sold to customers located outside India
Segment revenue and assets include the amounts identified to each group of the segments and allocated on a reasonable basis.
145
[201600] Notes - Related party
Disclosure of relationship and transactions between related parties [Table] ..(1)

Categories of related parties [Axis] 1 2
01/04/2021
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to
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31/03/2022
Disclosure of relationship and transactions between
related parties [Abstract]
related parties [LineItems]
Johnson
Johnson
Controls
Johnson Controls Holding Controls Johnson Controls
Name of related party Holding
Company Inc., USA International International PLC
Company
PLC
Inc., USA
Country of incorporation or residence of related UNITED
UNITED STATES IRELAND IRELAND
party STATES
Ultimate
Holding Ultimate Holding
Description of nature of related party relationship company
Holding company Holding
company
company
Income from
Interest on fully and Income from shared
shared service –
Textual compulsory convertible service – 3,175
6,279 IT charges
Description of nature of transactions with related information unsecured debentures – 2,704 Management fees –
– 1,244
party (70) [See Interest accrued but not due on 2,310 IT charges –
Receivables –
below] borrowings – 595 Debentures 2,920 Receivables – 847
7,139 Payables –
outstanding – 19,111 Payables – 2,263
2,814
Transaction relating to key management personnel
[Abstract]
Remuneration for key managerial personnel 0 0 0 0
Amount written off during period in respect
0 0 0 0
of debts due from related parties
Amount written back during period in respect
0 0 0 0
of debts due to related parties

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Johnson Controls Johnson Controls Johnson Controls Johnson Controls
Name of related party Inc., USA Inc., USA International BV International BV
Country of incorporation or residence of related
UNITED STATES UNITED STATES IRELAND IRELAND
party
Description of nature of related party relationship Others (A) Others Others (B) Others
Description of nature of transactions with related Textual information Textual information
IT charges - 72 IT charges – 92
party (71) [See below] (72) [See below]
[Abstract]
0 0 0 0
0 0 0 0
Footnotes
(A) Intermediate holding company
(B) Intermediate holding company
146

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Al Salem Air Al Salem Air Johnson
Conditioning Conditioning Johnson Controls (S) Pte Controls (S) Pte
Name of related party Company Limited, Company Limited, Limited, Singapore Limited,
UAE UAE Singapore
Country of incorporation or residence of related UNITED ARAB UNITED ARAB
SINGAPORE SINGAPORE
party EMIRATES EMIRATES
Fellow
Description of nature of related party relationship company company company
Subsidiary
company
Income from Income from D i r e c t s a l e s Direct sales
Description of nature of transactions with related business support business support compensation – 842 compensation –
party services – 183 Other services – 110 Receivables – 543 Other 881 Receivables
Receivables – 39 Receivables – 227 Receivables - 32 - 413
[Abstract]
0 0 0 0
0 0 0 0

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31/03/2022 31/03/2021 31/03/2022 31/03/2021
Johnson Controls Johnson Controls Air
Air Conditioning Conditioning and Johnson Controls Johnson Controls
Name of related party and Refrigeration Refrigeration Inc., Denmark ApS Denmark ApS
Inc., Dubai Dubai
Country of incorporation or residence of related UNITED ARAB UNITED ARAB
DENMARK DENMARK
party EMIRATES EMIRATES
Description of nature of related party relationship company company company company
Income from Income from
Description of nature of transactions with related
business support business support No Transaction Payables – 89
party services – 263 services - 273
[Abstract]
0 0 0 0
0 0 0 0
147

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31/03/2022 31/03/2021 31/03/2022 31/03/2021
Johnson
Johnson Controls Controls-Hitachi
Johnson Controls Johnson Controls-Hitachi Air
Name of related party HQ Holding
HQ Holding BVBA Conditioning India Limited
A i r
BVBA Conditioning
India Limited
BELGIUM BELGIUM SINGAPORE SINGAPORE
party
Fellow
Fellow Subsidiary Fellow Subsidiary
Description of nature of related party relationship company company
Fellow Subsidiary company Subsidiary
company
Revenue from contracts
relating to building
Income from Textual
Description of nature of transactions with related Income from shared efficiency and refrigeration
shared service – information (73)
party service – 2,470 plants – 52 Sale of products
1,420 [See below]
(chillers/compressor) – 1,220
Purchase of goods – 2,280
[Abstract]
0 0 0 0
0 0 0 0

01/04/2021
01/04/2020 01/04/2021 01/04/2020
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to
31/03/2021 31/03/2022 31/03/2021
31/03/2022
Johnson
Controls Johnson
Building Johnson Controls Building Johnson Controls Controls
Name of related party Efficiency Efficiency Limited, UK International spol. s.r.o International
Limited, spol. s.r.o
UK
Country of incorporation or residence of related UNITED
UNITED KINGDOM SLOVAKIA SLOVAKIA
party KINGDOM
Fellow Fellow
Fellow Subsidiary
Description of nature of related party relationship Subsidiary Fellow Subsidiary company
company
Subsidiary
company company
Revenue
Revenue from contracts
from
relating to building efficiency Income from shared
contracts Income from
and refrigeration plants – 694 service – 2,156 IT
relating to shared service –
Description of nature of transactions with related Income from maintenance c h a r g e s – 32
building 1,185 IT charges
party services – 16 Advance from Reimbursement of
efficiency – 26 Payables -
customer – 162 Unbilled Expenses (done on our
and 14
Revenue – 43 Unearned behalf) - 126
refrigeration
Revenue - 1
plants – 177
[Abstract]
0 0 0 0
0 0 0 0
148

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Disclosure of relationship and
transactions between
Disclosure of relationship and
transactions between
Tyco Fire And Security Tyco Fire And Security
Ruskin Titus India Private Ruskin Titus India Private
Name of related party Limited Limited
India Private Limited Tr India Private Limited Tr
Frm Mah Frm Mah
Country of incorporation or
residence of related INDIA INDIA INDIA INDIA
party
CIN of related party U45200HR2007PTC083177 U45200HR2007PTC083177 U05190KA1991PTC037495 U05190KA1991PTC037495
Description of nature of related
Fellow Subsidiary company Fellow Subsidiary company Fellow Subsidiary company Fellow Subsidiary company
party relationship
Interest income – 94 Loans
Interest income – 97 Loans
Description of nature of and advances given – 850
renewed – 1,500 Loans and
Loans renewed – 1,500 Textual information (74) Textual information (75)
transactions with related Loans and advances – 2,350
advances – 1,500 Interest
[See below] [See below]
party receivable on loans to
Interest receivable on loans
related parties - 33
to related parties – 29
Transaction relating to key
management personnel
[Abstract]
Remuneration for key
0 0 0 0
managerial personnel
Amount written off during period
in respect 0 0 0 0
Amount written back during
period in respect 0 0 0 0

01/04/2020
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to
31/03/2022 31/03/2021 31/03/2022
31/03/2021

Tyco Fire &
Tyco Safety Products Tyco Safety Products Tyco Fire & Security
Name of related party (India) Private Limited (India) Private Limited Gmbh
Security
Gmbh
INDIA INDIA GERMANY GERMANY
party
CIN of related party U74999KA2012PTC063278 U74999KA2012PTC063278
Fellow
Fellow Subsidiary
Description of nature of related party relationship Fellow Subsidiary company Fellow Subsidiary company company Subsidiary
company
Income from shared
Description of nature of transactions with related Textual information (76) Textual information (77) service – 3,713 Royalty – Royalty -
party [See below] [See below] 2,229 Receivables – 621 934
Payables – 1,284
Transaction relating to key management
personnel
[Abstract]
0 0 0 0
0 0 0 0
149

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Thorn Security Thorn Security
Name of related party TEPG Pte Ltd TEPG Pte Ltd
Limited Limited
SINGAPORE SINGAPORE CANADA CANADA
party
Description of nature of transactions with related Property, plant and
No Transaction Receivables – 1,260 Receivables - 729
party equipment - 3
[Abstract]
0 0 0 0
0 0 0 0

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York (Shanghai)
York (Shanghai) Air
Air Conditioning York Guangzhou Air York Guangzhou
Conditioning and
and Refrigeration Conditioning and Air Conditioning
Name of related party International
Refrigeration
Refrigeration and Refrigeration
International Trading
Trading Company Company Limited Company Limited
Company Limited
Limited
CHINA CHINA CHINA CHINA
party
Direct sales
Purchase of goods –
compensation – 7
Description of nature of transactions with related Purchase of goods – 3,981 Property, plant Purchase of goods –
party 1,552 Payables - 420 and equipment – 89 1,266 Payables - 40
1,557 Payables –
Payables – 322
529
[Abstract]
0 0 0 0
0 0 0 0
150

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31/03/2022 31/03/2021 31/03/2022 31/03/2021
York Wuxi Air York Wuxi Air
Conditioning And Conditioning And
York International York International
Name of related party Corporation, USA Corporation, USA
Refrigeration Refrigeration
Company Limited, Company Limited,
China China
UNITED STATES UNITED STATES CHINA CHINA
party
Income from
Income from
engineering
engineering services
services – 1,005
– 4,443 Income from Purchase of goods –
Income from
Description of nature of transactions with related business support 250 Property, plant Purchase of goods –
business support
party services - 121 and equipment – 15 266 Payables - 190
services – 179
Purchase of goods – Payables – 433
11 Receivables – 626
165 Receivables
Payables - 192
-878 Payables – 176
[Abstract]
0 0 0 0
0 0 0 0

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Johnson Controls Software Johnson Controls Software
Name of related party India Private Limited India Private Limited
Shrikant Bapat Shrikant Bapat

INDIA INDIA INDIA INDIA
party
Permanent account number of related party ABNPB8557B ABNPB8557B
CIN of related party U73100TG2012FTC084153 U73100TG2012FTC084153
Description of nature of related party relationship Key Management Key Management
Fellow Subsidiary company Fellow Subsidiary company
Personnel Personnel
Short-term borrowings – 60
Description of nature of transactions with related Interest expense – 7 Interest Managerial
accrued but not due on No Transaction Remuneration – No Transaction
party borrowings – 6 Short-term 235
borrowings - 60
Transaction relating to key management
personnel
[Abstract]
0 0 0 0
0 0 0 0
151

Categories of related parties [Axis] 25
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31/03/2022 31/03/2021
Disclosure of relationship and transactions between related parties [Abstract]
Disclosure of relationship and transactions between related parties [LineItems]
Shyam Sundar Shyam Sundar
Name of related party Mariappan Mariappan
Country of incorporation or residence of related party INDIA INDIA
Permanent account number of related party ASEPS4343J ASEPS4343J
Key Management Key Management
Description of nature of related party relationship Personnel Personnel
Managerial
Description of nature of transactions with related party Remuneration - 95
No Transaction
Transaction relating to key management personnel [Abstract]

Remuneration for key managerial personnel 0 0
Amount written off during period in respect of debts due from related parties 0 0
Amount written back during period in respect of debts due to related parties 0 0

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31/03/2022 31/03/2021
Disclosure of notes on related party explanatory [TextBlock] [See below]
Whether there are any related party transactions during year Yes Yes
Whether company is subsidiary company Yes Yes
Section under which company is subsidiary Section 2(87)(ii) Section 2(87)(ii)
Description of nature of transactions with related party

Interest on fully and compulsory convertible unsecured debentures – 2,681 Conversion of compulsory convertible debentures into equity –
9,111 Interest accrued but not due on borrowings – 582 Debentures outstanding – 10,000

Income from engineering services – 34,194 Income from business support services – 201 Income from shared service – 11,612 Purchase of
goods – 653 Management fees – 7,773 Rates and Taxes – 1,405 Reimbursement of Expenses (done on our behalf) – 1,136 Receivables –
7,994 Payables – 2,173 Other Receivables - 134

Income from engineering services – 29,770 Income from business support services – 46 Income from shared service – 6,517 Purchase of
goods – 793 Management fees – 2,490 Reimbursement of Expenses (done on our behalf) – 481 Receivables – 5,020 Payables - 881

Revenue from contracts relating to building efficiency and refrigeration plants – 267 Sale of products (chillers/compressor) – 99 Income from
maintenance services – 4 Purchase of goods – 25 Unearned Revenue - 31
152

Income from business support services – 496 Income from shared service – 311 Repayment of short-term borrowings – 963 Interest expense
– 344 Reimbursement of Expenses (done on our behalf) – 1,420 Receivables – 400 Other Receivables – 319 Interest accrued but not due on
borrowings – 24 Short-term borrowings – 4,758

Income from business support services – 736 Income from shared service – 351 Short-term borrowings – 344 Interest expense – 440
Reimbursement of Expenses (done on our behalf) – 735 Receivables – 176 Other Receivables – 119 Interest accrued but not due on
borrowings – 38 Short-term borrowings – 5,721

Purchase of goods – 2,092 Property, plant and equipment – 15 Interest income – 868 Loans given / (repaid) under cash pool arrangements
(net) – (796) Payables – 421 Loans and advances – 11,004 Interest receivable on loans to related parties – 68

Purchase of goods – 1,797 Interest income – 635 Loans given / (repaid) under cash pool arrangements (net) – 6,198 Payables – 1,202 Loans
and advances – 11,800 Interest receivable on loans to related parties - 68
153
Disclosure of notes on related party explanatory [Text Block]

35. Related party disclosures
As per Accounting Standard - 18 'Related Party Disclosures', the Company's related parties and transactions are disclosed below:
A. Parties where control exists

Johnson Controls (Mauritius) Private Limited (the Holding Company upto March 25, 2022) [Refer Note 3(i)]
Johnson Controls International PLC, the Ultimate Holding Company
Johnson Controls Inc., USA, the intermediate holding company
Johnson Controls International BV, (the intermediate holding company upto March 25, 2022)
Johnson Controls Holding Company Inc., USA, (the intermediate holding company upto March 25, 2022, the Holding Company w.e.f.
March 26, 2022) [Refer Note 3(i)]
B. Parties under common control (Fellow subsidiaries) with whom transactions have taken place during the year / previous year
ADT Fire and Security PLC
ADT Security Limited
Air System Components Inc
Al Salem Air Conditioning Company Limited, UAE
Al Salam York Services Co. LTD
Johnson Controls (China) Investment Co. Limited
Johnson Controls (M) Sdn Bhd, Malaysia
Johnson Controls (S) Pte Limited, Singapore
Johnson Controls Air Conditioning and Refrigeration (Qatar) LLC
Johnson Control Air Conditioniong & Refrigeration FZE, Dubai
Johnson Controls Australia Pty Limited
Johnson Controls Building Automation Systems LLC, USA
Johnson Controls Chile S.A.A
Johnson Controls Espana SL
Johnson Controls International Inc
Johnson Controls France S.A.S.
Johnson Controls BE Operations
Johnson Controls Colombia LTDA
Johnson Controls Inc AP
JC BE Wuxi Controls Eng PM LC
Johnson Controls,York Navy System
Johnson Controls Technology GmbH
Johnson Controls Business
Johnson Controls Industries
Johnson Controls Holding (S) Pte Limited, Singapore
Johnson Controls Inc., Belgium
Johnson Controls Inc., Controls Group (Japan)
Johnson Controls International (Thailand) Company Limited
Johnson Controls International LLC, Dubai
Johnson Controls Sa/Nv Belgium
Johnson Controls SA de CV, Mexico
Johnson Controls Systems & Services BV, Netherlands
Johnson Controls Systems & Services GmbH, Germany
Johnson Controls Systems and Service Italy SRL
Johnson Controls Systems Limited, UK
Johnson Controls World Services (Thailand) Company Limited
Johnson Controls Air Conditioning and Refrigeration Inc., Dubai
Johnson Controls BE do Brasil Ltda
Johnson Controls Denmark ApS
Johnson Controls GmbH
Johnson Controls Hong Kong Ltd.
Johnson Controls HQ Holding BVBA
Johnson Controls International NV
Johnson Controls Peru S.R.L
Johnson Controls LP
Johnson Controls Automotive Electronics GmbH
Johnson Controls Bahrain SPC
Johnson Controls-Hitachi Air Conditioning India Limited
Johnson Controls Building Efficiency Limited, UK
Johnson Controls International spol. s.r.o
PT. Johnson Controls Indonesia
Rolastar Pvt Ltd
Ruskin Titus India Private Limited
Ruskin Rooftop Systems, Inc.
Tyco Fire Products LP
Tyco New Zeland Limited
154
Tyco Safety Products Canada Ltd.

Tyco Fire And Security India Private Limited
Tyco Safety Products India Private Limited
Tyco Fire & Security Gmbh
TEPG Pte Ltd
Thorn Security Limited
York ESG North America
York (China) Commercial Company Limited
York (Shanghai) Air Conditioning and Refrigeration International Trading Company Limited
York Guangzhou Air Conditioning and Refrigeration Company Limited
York International (Northern Asia) Limited
York International Corporation, USA
York Latin America
York Wuxi Air Conditioning And Refrigeration Company Limited, China
Qolsys Softwares India Private Limited
C. Key management personnel

Shrikant Bapat (upto July 26, 2022)
Shyam Sundar Mariappan (upto August 26, 2022)
Arun Awasthy (w.e.f. July 26, 2022)
Murugesan Mottaiyan (w.e.f. August 11, 2022)
Sivakumar Selva Ganapathy (w.e.f. August 11, 2022)
155
D. Details of transactions during the year and closing balances as at the year end
Parties Parties
Key
where under
control common
Personnel
exists control
2021-22 2020-2021 2021-22 2020-2021 2021-22 2020-2021 2021-22 2020-2021
Income from engineering

services
York International Corporation - - 1,005 4,443 - - 1,005 4,443
Others - - 21,602 11,506 - - 21,602 11,506
Total 34,194 29,770 22,607 15,949 - - 56,801 45,719
Revenue from contracts relating

to building efficiency and

- - 177 694 - - 177 694

- - 52 267 - - 52 267
Others - - 10 49 - - 10 49
Total - - 239 1,010 - - 239 1,010
Sale of products
(chillers/compressor)

- - 1,220 99 - - 1,220 99
Others - - 7 - - - 7 -
Total - - 1,227 99 - - 1,227 99
Income from business support

services
156
Private Limited - - 496 736 - - 496 736

- - 179 121 - - 179 121
USA

- - 183 110 - - 183 110
Johnson Controls Air

Inc., Dubai
Others - - 253 214 - - 253 214
Total 201 46 1,374 1,454 - - 1,575 1,500
Income from shared service

6,279 3,175 - - - - 6,279 3,175
PLC

- - 2,156 1,185 - - 2,156 1,185
spol sro
Johnson Controls HQ Holding

- - 1,420 2,470 - - 1,420 2,470
BVBA

- - 311 351 - - 311 351
Private Limited
Others - - 2,346 809 - - 2,346 809
Total 17,891 9,692 9,946 4,815 - - 27,837 14,507
Direct sales compensation

- - 842 881 - - 842 881
Limited, Singapore
York (Shanghai) Air

- - 7 @ - - 7 @
Limited
Total - - 849 881 - - 849 881
157
Income from maintenance

services

- - - 16 - - - 16
Efficiency UK Limited

- - - 4 - - - 4
Others - - - 89 - - - 89
Total - - - 109 - - - 109
Purchase of goods
York (Shanghai) Air

- - 1,557 1,552 - - 1,557 1,552
Limited
York Guangzhou Air

Conditioning and Refrigeration - - 3,981 1,266 - - 3,981 1,266
Company Limited

Refrigeration Company Limited, - - 250 266 - - 250 266
China

- - 165 11 - - 165 11
USA

- - 2,092 1,797 - - 2,092 1,797
Private Limited

- - 2,280 25 - - 2,280 25
Others - - 3,016 2,074 - - 3,016 2,074
Total 653 793 13,341 6,991 - - 13,994 7,784
Parties Parties
Key
where under
control common
Personnel
exists control
2021-22 2020-2021 2021-22 2020-2021 2021-22 2020-2021 2021-22 2020-2021
158
York Guangzhou Air

Conditioning and Refrigeration - - 89 - - - 89 -
Company Limited

Refrigeration Company Limited, - - 15 - - - 15 -
China

- - 15 - - - 15 -
Private Limited
TEPG Pte Ltd - - - 3 - - - 3
Others - - 11 15 - - 11 15
Total - - 130 18 - - 130 18
Interest income

- - 94 97 - - 94 97
Limited

- - 868 635 - - 868 635
Private Limited
Total - - 962 732 - - 962 732
Loans and advances given

- - 850 - - - 850 -
Limited
Total - - 850 - - - 850 -
Loans renewed

- - 1,500 1,500 - - 1,500 1,500
Limited
Total - - 1,500 1,500 - - 1,500 1,500
Loans given / (repaid) under

cash pool arrangements (net)

- - (796) 6,198 - - (796) 6,198
Private Limited
Total - - (796) 6,198 - - (796) 6,198
159

- - - 344 - - - 344
Private Limited

- - 60 - - - 60 -
Limited
Total - - 60 344 - - 60 344
Repayment of short-term
borrowings

- - 963 0 - - 963 0
Private Limited
Total - - 963 0 - - 963 0
Interest on fully and compulsory

convertible unsecured
debentures

2,681 2,704 - - - - 2,681 2,704
Company Inc, USA
Total 2,681 2,704 - - - - 2,681 2,704
Conversion of compulsory
convertible debentures into
equity

9,111 - - - - - 9,111 -
Company Inc, USA
Total 9,111 - - - - - 9,111 -
Interest expense

- - 344 440 - - 344 440
Private Limited

- - 7 - - - 7 -
Limited
Total - - 351 440 - - 351 440
Management fees

- 2,310 - - - - - 2,310
Plc
160
Total 7,773 4,800 - - - - 7,773 4,800
IT charges

- - 32 26 - - 32 26
spol. s.r.o

- 72 99 - - - 99 72
BV
Others - - 1 61 - - 1 61
Total 1,244 2,992 132 87 - - 1,376 3,079
Royalty
Tyco Fire & Security Gmbh - - 2,229 934 - - 2,229 934
Total - - 2,229 934 - - 2,229 934
Parties Parties
Key
where under
control common
Personnel
exists control
2021-22 2020-2021 2021-22 2020-2021 2021-22 2020-2021 2021-22 2020-2021
Rates and Taxes
Johnson Controls Inc. 1,405 - - - - - 1,405 -
Total 1,405 - - - - - 1,405 -
Reimbursement of Expenses
(done on our behalf)

- - 1,420 735 - - 1,420 735
Private Limited

- - 126 - - - 126 -
spol. s.r.o
Others - - 1,044 248 - - 1,044 248
161
Total 1,136 481 2,590 984 - - 3,726 1,464
Managerial Remuneration
Shrikant Bapat - - - - 235 - 235
Shyam Sundar Mariappan - - - - 95 - 95
Total - - - - - 330 - 330
Closing balances as at year end
Parties Parties
Key
where under
control common
Personnel
exists control
2021-22 2020-2021 2021-22 2020-2021 2021-22 2020-2021 2021-22 2020-2021
Receivables

7,139 847 - - - - 7,139 847
Plc
Thorn Security Limited - - 1,260 729 - - 1,260 729

- - - 227 - - - 227

- - 543 413 - - 543 413
Limited, Singapore
York International Corporation - - 878 626 - - 878 626

- - 400 176 - - 400 176
Private Limited
Tyco Fire & Security Gmbh - - 621 - - - 621 -
Others - - 1,452 2,886 - - 1,452 2,886
Total 15,133 5,867 5,154 5,057 - - 20,287 10,924
Payables
162

2,814 2,263 - - - - 2,814 2,263
Plc

- - - 14 - - - 14
spol. s.r.o
York (Shanghai) Air

- - 529 420 - - 529 420
Limited

Refrigeration Company - - 433 190 - - 433 190
Limited, China
York Guangzhou Air

Company Limited

- - 176 192 - - 176 192
USA
Johnson Controls Denmark

- - - 89 - - - 89
ApS

- - - - - - - -
Inc

- - 421 1,202 - - 421 1,202
Private Limited
Others - - 1,036 728 - - 1,036 728
Total 4,987 3,144 4,200 2,874 - - 9,188 6,019
Parties Parties
Key
where under
control common
Personnel
exists control
2021-22 2020-2021 2021-22 2020-2021 2021-22 2020-2021 2021-22 2020-2021
Advance from customer

- - - 162 - - - 162
Total - - - 162 - - - 162
163
Unbilled Revenue

- - - 43 - - - 43
Others - - - 7 - - - 7
Total - - - 50 - - - 50
Unearned Revenue

- - - 31 - - - 31

- - - 1 - - - 1
Others - - - 11 - - - 11
Total - - - 42 - - - 42
Other Receivables

- - 319 119 - - 319 119
Private Limited
Johnson Controls Inc., USA 134 - - - - - 134 -

- - 39 - - - 39 -

- - 32 - - - 32 -
Limited, Singapore
Others - - 30 - - - 30 -
Total 134 - 421 119 - - 555 119
Interest accrued but not due on

borrowings

582 595 - - - - 582 595
Company Inc., USA

- - 24 38 - - 24 38
Private Limited

- - 6 - - - 6 -
Limited
164
Total 582 595 30 38 - - 612 633
Loans and advances

- - 2,350 1,500 - - 2,350 1,500
Limited

- - 11,004 11,800 - - 11,004 11,800
Private Limited
Total - - 13,354 13,300 - - 13,354 13,300
Interest receivable on loans to

related parties

- - 68 68 - - 68 68
Private Limited

- - 29 33 - - 29 33
Limited
Total - - 97 101 - - 97 101

- - 4,758 5,721 - - 4,758 5,721
Private Limited

- - 60 - - - 60 -
Limited
Total - - 4,818 5,721 - - 4,818 5,721
Debentures outstanding

10,000 19,111 - - - - 10,000 19,111
Company Inc., USA
Total 10,000 19,111 - - - - 10,000 19,111
165
[201400] Notes - Leases

01/04/2021 01/04/2020
to to
31/03/2022 31/03/2021
Disclosure of leases explanatory [TextBlock] [See below]
Whether any operating lease has been converted to financial lease or
No No
vice-versa
Disclosure of leases explanatory [Text Block]

2.11. Leases
As a lessee:
Leases in which a significant portion of the risks and rewards of ownership are retained by the lessor are classified as operating leases.
Payments made under operating leases are charged to the Statement of Profit and Loss on a straight line basis over the period of the lease.
36. Disclosure under Accounting Standard 19 'Leases'
The Company has entered into cancellable and non-cancellable leasing arrangements for office premises,computers and other
equipments.The lease rental of 8,165 (Previous year: 8,127) has been included in 'Rent' under 'Other expenses' in note 26.
Future minimum lease payments payable in respect of non-cancellable period are as under:
March 31, 2022 March 31, 2021
(i) Payable not later than 1 year 9,823 7,505
(ii) Payable later than 1 year and not later than 5 years 10,971 8,887
(iii) Payable later than 5 years - -
[300300] Notes - Earnings per share

01/04/2021 01/04/2020
to to
31/03/2022 31/03/2021
Disclosure of earnings per share explanatory [TextBlock] [See below]
Adjustments of numerator to calculate basic earnings per share [Abstract]
Adjustments of numerator to calculate diluted earnings per share [Abstract]
166
Disclosure of earnings per share explanatory [Text Block]

2.14. Earnings per share
Basic earnings per share is calculated by dividing the net profit or loss for the year attributable to equity shareholders by the weighted
average number of equity shares outstanding during the year. Earnings considered in ascertaining the Company’s earnings per share is the net
profit for the year after deducting preference dividends and any attributable tax thereto for the year. The weighted average number of equity
shares outstanding during the year and for all years presented is adjusted for events, such as bonus shares, other than the conversion of
potential equity shares that have changed the number of equity shares outstanding, without a corresponding change in resources. For the
purpose of calculating diluted earnings per share, the net profit or loss for the year attributable to equity shareholders and the weighted
average number of shares outstanding during the year is adjusted for the effects of all dilutive potential equity shares.
[202800] Notes - Subsidiary information

01/04/2021
to
31/03/2022
Disclosure of subsidiary information explanatory [TextBlock]
Whether company has subsidiary companies No
Number of subsidiary companies 0
Whether company has subsidiary companies which are yet to commence
No
operations
Whether company has subsidiary companies liquidated or sold during year No
[201900] Notes - Income taxes

01/04/2021
to
31/03/2022
Disclosure of notes on income taxes explanatory [TextBlock] [See below]
Disclosure of notes on income taxes explanatory [Text Block]

2.9. Current and deferred tax
Tax expense for the year, comprising current tax and deferred tax, are included in the determination of the net profit or loss for the period.
Current tax is measured at the amount expected to be paid to the tax authorities in accordance with the provisions of the Income-tax Act,
1961 and rules framed thereunder.
Deferred tax is recognised for all the timing differences, subject to the consideration of prudence in respect of deferred tax assets. Deferred
tax assets are recognised and carried forward only to the extent that there is a reasonable certainty that sufficient future taxable income will
be available against which such deferred tax assets can be realised. However, in situations where there are unabsorbed depreciation or carry
forward loss, all the deferred tax assets are recognised and carried forward only to the extent that there is a virtual certainty of sufficient
future taxable income supported with convincing evidence against which such assets can be realised. Deferred tax assets and liabilities are
measured using the tax rates and tax laws that have been enacted or substantively enacted by the Balance Sheet date. At each Balance Sheet
date, the Company re-assesses unrecognised deferred tax assets, if any.
Current tax assets and current tax liabilities are offset when there is a legally enforceable right to set off the recognised amounts and there is
an intention to settle the asset and the liability on a net basis. Deferred tax assets and deferred tax liabilities are offset when there is a legally
enforceable right to set off assets against liabilities representing current tax and where the deferred tax assets and the deferred tax liabilities
relate to taxes on income levied in accordance with the Income-tax Act, 1961 and rules framed thereunder.
167
[202400] Notes - Investments in associates

01/04/2021
to
31/03/2022
Disclosure of notes on investment in associates explanatory [TextBlock]
Whether company has invested in associates No
Whether company has associates which are yet to commence operations No
Whether company has associates liquidated or sold during year No
[202500] Notes - Financial reporting of interests in joint ventures

01/04/2021
to
31/03/2022
Disclosure of notes on interests in joint ventures explanatory [TextBlock]
Whether company has invested in joint ventures No
Whether company has joint ventures which are yet to commence operations No
Whether company has joint ventures liquidated or sold during year No
[201500] Notes - Impairment

01/04/2021
to
31/03/2022
Disclosure of impairment of assets explanatory [TextBlock] [See below]
Disclosure of impairment of assets explanatory [Text Block]

2.4. Impairment of assets
Assessment is done at each Balance Sheet date as to whether there is any indication that an asset (tangible and intangible) may be impaired.
For the purpose of assessing impairment, the smallest identifiable group of assets that generates cash inflows from continuing use that are
largely independent of the cash inflows from other assets or groups of assets, is considered as a cash generating unit. If any such indication
exists, an estimate of the recoverable amount of the asset / cash generating unit is made. Assets whose carrying value exceeds their
recoverable amount are written down to the recoverable amount. Recoverable amount is higher of an asset’s or cash generating unit’s net
selling price and its value in use. Value in use is the present value of estimated future cash flows expected to arise from the continuing use of
an asset and from its disposal at the end of its useful life. Assessment is also done at each Balance Sheet date as to whether there is any
indication that an impairment loss recognised for an asset in prior accounting periods may no longer exist or may have decreased.
[202100] Notes - Other provisions, contingent liabilities and contingent assets

01/04/2021
to
31/03/2022
Disclosure of notes on other provisions, contingent liabilities and Textual information (83)
contingent assets explanatory [TextBlock] [See below]
Disclosure of other provisions explanatory [TextBlock]
168
Disclosure of notes on other provisions, contingent liabilities and contingent assets explanatory [Text Block]
2.10. Provisions and contingent liabilities
Provisions are recognised when there is a present obligation as a result of a past event, it is probable that an outflow of resources embodying
economic benefits will be required to settle the obligation and there is a reliable estimate of the amount of the obligation. Provisions are
measured at the best estimate of the expenditure required to settle the present obligation at the Balance Sheet date.
Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only
by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company or a present
obligation that arises from past events where it is either not probable that an outflow of resources will be required to settle or reliable estimate
of the amount cannot be made.
28(a) Contingent liabilities
March 31, March 31,

2022 2021
(a) Contingent liabilities
Claims against the Company not acknowledged as debts
(i) Income tax matters under dispute being contested by the Company and / or in appeal 2,879 567
(ii) Goods and Service Tax matter under dispute being contested by the Company and / or in
287 -
appeal
(iii) Claims against the Company not acknowledged as debts 349 655
Notes:
A. Matters referred above, pertain to litigations / disputes with respective tax authorities. It is not practicable for the Company to estimate the
timings of cash outflows, if any, in respect of the above pending resolutions of the respective proceedings.
B. The Company has evaluated the impact of the Supreme Court Judgment in case of "Vivekananda Vidyamandir And Others Vs The
Regional Provident Fund Commissioner (II) West Bengal" and the related circular (Circular No. C-I/1(33)2019/Vivekananda Vidya
Mandir/284) dated March 20, 2019 issued by the Employees’ Provident Fund Organisation in relation to non-exclusion of certain allowances
from the definition of "basic wages" of the relevant employees for the purposes of determining contribution to provident fund under the
Employees' Provident Funds & Miscellaneous Provisions Act, 1952. In the assessment of the management, the aforesaid matter does not
have a significant impact on the company
March 31, 2022 March 31, 2021
169
Estimated value of contracts in capital account remaining to be executed - 10
37. Provision for warranty, contingencies and forseeable losses
Provision for Forseeable

Warranty
contingencies losses
Year ended Year ended Year ended Year ended Year ended Year ended
March 31, 2022
2022 2021 2021 2022 2021
Balances as at the beginning of

200 186 901 805 33 186
the year
Additions 596 178 337 260 4 33
Reversals - - 128 - - -
Utilizations 327 164 - 164 20 186
Balances as at the end of the

469 200 1,110 901 17 33
year
Warranty provision covers the estimated expenses on repairs and maintenance of the equipments installed. The amount is determined on the
basis of technical estimates. Future cash flows in respect of warranties are expected to occur over the period of warranty. Unutilised balances,
if any, are written back on expiry of the commitment.
Provision for contingencies represents provision for litigations/disputes or likely claims with value added tax, goods and service tax, service
tax and sales tax authorities, the outflow of which would depend on resolution of these litigations/ disputes or likely claims.
Forseeable losses on contracts are provided for as per the Company's policy as explained in note 2.7 (i).
[202700] Notes - Cash flow statements

01/04/2021 01/04/2020
to to 31/03/2020
31/03/2022 31/03/2021
Disclosure of cash flow statement explanatory [TextBlock] [See below]
Description of accounting policy to determine components of cash and cash Textual information (85)
equivalents [TextBlock] [See below]
Cash and cash equivalents if different from balance sheet [Abstract]
Cash and cash equivalents cash flow statement 3,645 4,491 1,452
Total cash and cash equivalents 3,645 4,491
Income taxes paid (refund) [Abstract]
Income taxes paid (refund), classified as operating activities 5,096 1,575
Total income taxes paid (refund) 5,096 1,575
170
Disclosure of cash flow statement explanatory [Text Block]

Cash Flow Statement for the year ended March 31, 2022
March 31, March 31,

2022 2021
A) Cash flow from operating activities
Adjustments for:
Depreciation and amortisation expense 411 647
Bad debts 506 196
Liabilities / provisions written back to the extent no longer required (202) (296)
Loss on property, plant and equipment (net) - 9
Finance costs 3,311 3,422
Interest income (962) (1,141)
Provision for trade receivables and unbilled revenue 601 478
Provision for contingencies (net) 209 96
Provision for / (write back of) foreseeable losses in respect of unfinished contracts
(16) (153)
(net)
Provision for doubtful deposits / (provision written back) - (32)
Unrealized exchange loss/gain on cash and cash equivalent balances @ (35)
Operating profit before working capital changes 22,927 8,056
Changes in working capital:
171
(Increase) / Decrease in trade receivables (18,527) 6,707
Decrease in inventories 270 181
Increase / (Decrease) in trade payables 4,203 (4,388)
Increase in other liabilities 2,419 4,285
Increase in provisions 1,549 1,567
(Increase) / Decrease in loans and advances (3,839) 3,118
Decrease in other assets 94 909
Cash generated from operations 9,096 20,435
Income taxes paid (net of refunds) (5,096) (1,575)
Net cash generated from operating activities 4,000 18,860
B) Cash flow from investing activities
Purchase of property, plant and equipment / intangible assets (1,803) (181)
Loan given (850) -
Interest received 966 1,141
Loan given / (received back) under cash pool arrangement (net) 796 (6,198)
Net cash used in investing activities (891) (5,238)
C) Cash flow from financing activities
Finance costs paid (including interest on compulsorily convertible debentures) (3,053) (3,401)
Proceeds from short-term borrowings - 6,800
172
Repayment of short-term borrowings - (14,360)
Loan taken / (Repaid) under Cash pool arrangement (net) (903) 344
Net cash used in financing activities (3,956) (10,617)
Net increase/(decrease) in cash and cash equivalents (848) 3,005
Cash and cash equivalents as at the beginning of the year
Bank balances
- in current accounts 3,415 864
- in EEFC account 1,056 557
- in deposit accounts 20 30
Effect of exchange differences on balances with banks in foreign currency @ 35
Cash and cash equivalents as at the end of the year
Balances with banks
- in current accounts 3,625 3,415
- in EEFC Account 20 1,056
- in deposit accounts - 20
Total (846) 3,005
D) Non-cash financing activities
173
Issue of equity shares on conversion of compulsorily convertible unsecured

9,111 -
debentures
Notes:
1. Amount spent in cash towards Corporate Social Responsibility amounts to 47 (Previous year: 67)
2. The above Cash Flow Statement has been prepared under the "Indirect Method" as set out in Accounting Standard-3 'Cash Flow
Statements'.
3. Figures in bracket indicate cash outflows.
4. Previous period figures have been regrouped / rearranged, wherever necessary, to confirm to the current year's classification.
Description of accounting policy to determine components of cash and cash equivalents [Text Block]
2.13. Cash and cash equivalents
Cash and cash equivalents include cash in hand, demand deposits with banks, other short-term highly liquid investments with original
maturities of three months or less.
2.16. Cash flow statement
Cash flows are reported using the indirect method, whereby profit before tax is adjusted for the effects of transactions of non-cash nature and
any deferrals or accruals of past or future cash receipts or payments. The cash flows from operating, investing and financing activities of the
Company are segregated based on the available information.
[300200] Notes - Construction contracts

01/04/2021
to
31/03/2022
Disclosure of recognised revenue from construction contracts explanatory Textual information (86)
174
Disclosure of recognised revenue from construction contracts explanatory [Text Block]

33. Disclosure under Accounting Standard 7 - Construction Contracts
March 31, 2022 March 31, 2021
Disclosure under Accounting Standard 7 - Construction Contracts
Contract revenue recognised for the year 46,074 23,833
losses) up to the year end for all contracts in progress as at the year end
Amount of customer advance outstanding for contracts in progress as at the year end 2,322 3,507
Retention amounts due from customers for contracts in progress as at the year end 877 1,590
Due from Customers
Amount due from customers on contracts accounted under percentage of completion is
arrived at as below [for all contracts in progress for which costs incurred plus recognised
profits (less recognised losses) exceeds progress billings]
Less: Aggregate amount of progress billings 33,224 24,511
Total 8,500 6,201
Due to Customers
175
Amount due to customers on contracts accounted under percentage of completion is
arrived at as below [for all contracts in progress for which progress billings exceeds costs
incurred plus recognised profits (less recognised losses)]
Aggregate amount of progress billings 32,331 19,323
Less: Aggregate amount of contract costs incurred and recognised profits (less recognised 29,382 17,631
2,949 1,692
176
[100200] Statement of profit and loss

01/04/2021 01/04/2020
to to
31/03/2022 31/03/2021
Statement of profit and loss [Abstract]
Disclosure of revenue from operations [Abstract]
Disclosure of revenue from operations for other than finance company
[Abstract]
Revenue from sale of products 4,432 1,629
Revenue from sale of services 1,49,439 1,00,873
Other operating revenues 1,349 1,249
Total revenue from operations other than finance company 1,55,220 1,03,751
Total revenue from operations 1,55,220 1,03,751
Total revenue 1,57,009 1,05,267
Expenses [Abstract]
Cost of materials consumed 33,716 18,902
Purchases of stock-in-trade 2,860 817
Changes in inventories of finished goods, work-in-progress and
0 0
stock-in-trade
Employee benefit expense 54,808 37,841
Finance costs 3,311 3,422
Depreciation, depletion and amortisation expense [Abstract]
Depreciation expense 362 491
Amortisation expense 49 157
Total depreciation, depletion and amortisation expense 411 648
CSR expenditure 86.29 67
Other expenses 42,747.71 38,705
Total profit before prior period items, exceptional items, extraordinary
19,069 4,865
items and tax
Total profit before extraordinary items and tax 19,069 4,865
Total profit before tax 19,069 4,865
Tax expense [Abstract]
Deferred tax -399 -686
Total tax expense 4,949 1,959
Total profit (loss) for period from continuing operations 14,120 2,906
Profit (loss) from discontinuing operations before tax 0 0
Tax expense of discontinuing operations 0 0
Total profit (loss) for period before minority interest 14,120 2,906
Profit (loss) of minority interest 0 0
Total profit (loss) for period 14,120 2,906
Earnings per equity share [Abstract]
Basic earning per equity share [INR/shares] 135.35 [INR/shares] 32.52
Diluted earnings per equity share [INR/shares] 10.75 [INR/shares] 3.29
Nominal value of per equity share [INR/shares] 10 [INR/shares] 10
177
[300500] Notes - Subclassification and notes on income and expenses

01/04/2021 01/04/2020
to to
31/03/2022 31/03/2021
Subclassification and notes on income and expense explanatory [TextBlock] [See below]
Disclosure of revenue from sale of products [Abstract]
Disclosure of revenue from sale of products explanatory [TextBlock] [See below]
Revenue from sale of products [Abstract]
Revenue from sale of products, gross 4,432 1,629
Total revenue from sale of products 4,432 1,629
Disclosure of revenue from sale of services [Abstract]
Revenue from sale of services [Abstract]
Revenue from sale of services, gross 1,49,439 1,00,873
Total revenue from sale of services 1,49,439 1,00,873
Disclosure of other operating revenues [Abstract]
Other operating revenues [Abstract]
Miscellaneous other operating revenues (A) 1,349 (B) 1,249
Total other operating revenues 1,349 1,249
Disclosure of other income [Abstract]
Disclosure of notes on other income explanatory [TextBlock] [See below]
Interest income [Abstract]
Interest income on current investments [Abstract]
Interest on fixed deposits, current investments 0 1
Total interest income on current investments 0 1
Total interest income 0 1
Dividend income [Abstract]
Total dividend income 0 0
Other non-operating income [Abstract]
Net gain/loss on foreign currency fluctuations treated as other
552 0
income
Interest on income tax refund 0 408
Excess provisions written back 0 32
Miscellaneous other non-operating income (C) 1,237 (D) 1,075

Total other non-operating income 1,789 1,515
Total other income 1,789 1,516
Disclosure of finance cost [Abstract]
Disclosure of notes on finance cost explanatory [TextBlock] [See below]
Interest expense [Abstract]
Other interest charges 3,311 3,422
Total interest expense 3,311 3,422
Total finance costs 3,311 3,422
Employee benefit expense [Abstract]
Salaries and wages 49,088 32,979
Managerial remuneration [Abstract]
Remuneration to directors [Abstract]
Total remuneration to directors 0 0
Total managerial remuneration 0 0
Contribution to provident and other funds [Abstract]
Contribution to provident and other funds for others 2,090 1,513
Total contribution to provident and other funds 2,090 1,513
Leave encashment expenses 792 797
Gratuity 969 966
Staff welfare expense 1,785 1,586
Other employee related expenses (E) 84

0
Total employee benefit expense 54,808 37,841

Breakup of other expenses [Abstract]
Consumption of stores and spare parts 0 0
Power and fuel 0 0
Rent 8,165 8,127
178
Repairs to building 0 0
Repairs to machinery 0 0
Insurance 272 264
Rates and taxes excluding taxes on income [Abstract]
Other cess taxes 1,657 350
Total rates and taxes excluding taxes on income 1,657 350
Electricity expenses 293 308
Telephone postage 1,370 1,565
Information technology expenses 1,319 4,718
Travelling conveyance 801 1,213
Legal professional charges 278 215
Directors sitting fees 0 0
Cost repairs maintenance other assets 734 597
Cost royalty 2,229 934
Provision bad doubtful debts created 0 0
Provision bad doubtful loans advances created 0 0
Write-off assets [Abstract]
Miscellaneous expenditure written off [Abstract]
Total miscellaneous expenditure written off 0 0
Bad debts written off 506 196
Bad debts advances written off 0 0
Total write-off assets 506 196
Loss on disposal of intangible asset 0 0
Loss on disposal, discard, demolishment and destruction of depreciable
0 9
tangible asset
Payments to auditor [Abstract]
Payment for audit services 30 28
Total payments to auditor 30 28
Miscellaneous expenses (F) 25,093.71 (G) 20,181

Total other expenses 42,747.71 38,705
Current tax [Abstract]
Current tax pertaining to previous years -254 603
Current tax pertaining to current year 5,602 2,042
Total current tax 5,348 2,645
Footnotes
(A) Direct sales compensation - 849
Export incentives - 500
(B) Direct sales compensation - 881
Export incentives - 368
(C) Interest income On loans - 962
Liabilities/provisions written back to the extent no longer required - 202
Miscellaneous income - 73
(D) Interest income On loans - 732
Liabilities/provisions written back to the extent no longer required - 296
Miscellaneous income - 46
(E) Expenses related to Restricted Share Units (RSU's)
(F) Management fees - 7,773
Subcontractor charges, external resource cost, etc - 15,349
Provision for doubtful trade receivables and unbilled revenue - 601
Miscellaneous - 1,371
(G) Net loss on foreign currency transactions and translations - 168
Management fees - 4,800
Subcontractor charges, external resource cost, etc - 13,496
Provision for doubtful trade receivables and unbilled revenue - 478
Miscellaneous - 1,239
179
Subclassification and notes on income and expense explanatory [Text Block]

21. Cost of materials consumed*
March 31, 2022 March 31, 2021
Cost of materials consumed*
Inventory at the beginning of the year 2,238 2,419
Add: Purchases 33,446 18,721
Less: Inventory at the end of the year 1,968 2,238
Cost of materials consumed 33,716 18,902
* includes cost of component parts sold 103 (Previous year 10)
22. Cost of traded items
March 31, 2022 March 31, 2021
Cost of traded items
Inventory at the beginning of the year - -
Add: Purchases of (chillers/compressor) 2,860 817
Less: Inventory at the end of the year - -
2,860 817
23. Employee benefits expense
180
March 31, 2022 March 31, 2021
Employee benefits expense
Salaries, wages and bonus 49,088 32,979
Contribution to provident and other funds (Refer note 'A' below) 2,090 1,513
Gratuity (Refer note 'B' below) 969 966
Compensated absences (Refer note 'C' below) 792 797
Expenses related to Restricted Share Units (RSU's) (Refer Note 37A) 84
Staff welfare expenses
Employee insurance 977 936
Other welfare expenses 808 650
54,808 37,841
Notes
1. The code of Social Security, 2020 (‘Code’) which covers employee benefits during employment and post-employment received
Presidential assent in September 2020. However, its effective date is yet to be notified. The Company will assess and record the impact of the
Code, once it is effective.
2. Disclosure under Accounting Standard - 15 (revised 2005) 'Employee Benefits'
The Company has classified various employee benefits as under:
A. Defined contribution plans
March 31, 2022 March 31, 2021
Defined contribution plans
Amounts recognised in the Statement of Profit and Loss:
181
Contribution to provident fund* 2,090 1,512
Contribution to employee's deposit insurance scheme - 1
2,090 1,513
* Includes Employees Deposit Linked Insurance Scheme (EDLI) charges and Employers' Contribution to Employees' Pension Scheme 1995.
B. Defined benefit plans
Gratuity (funded)
i) The Company operates a gratuity plan. Employee is entitled to a benefit equivalent to 15 / 19.5 / 26 days (for service tenure of less than 10
years, more than 10 but less than 15 years and more than 15 years respectively) salary last drawn for each completed year of service. The
same is payable at the time of separation from the Company or retirement, whichever is earlier. The benefits vest after five years of
continuous service. Valuations in respect of Gratuity have been carried out by an independent actuary, as at the Balance Sheet date, based on
the following assumptions:
March 31, 2022 March 31, 2021
Discount rate (per annum) 7.30% 6.93%
Rate of increase in compensation levels First year 7.9%, thereafter 6.50% 6.50%
Rate of return on plan assets 7.35% 6.84%
10% for services < 5 years 10% for services < 5 years
Attrition rate
2% thereafter 2% thereafter
a) The estimate rate of increase in compensation levels considered in actuarial valuation, takes into account inflation, seniority, promotion
and other relevant factors including demand and supply in the employment market.
ii) Present value of defined benefit obligation
March 31, 2022 March 31, 2021
Present value of defined benefit obligation
Opening balance of present value of obligation 2,684 1,661
Current service cost 536 337
182
Interest cost 175 110
Transfer in 53 71
Actuarial (gain) / losses on obligations 332 584
Benefits paid (316) (79)
Closing balance of present value of obligation 3,464 2,684
iii) Fair value of plan assets
March 31, 2022 March 31, 2021
Fair value of plan assets
Opening balance of present value of plan assets 1,159 1,195
Adjustment to opening fund 27 (67)
Expected return on plan assets 76 80
Actuarial gains / (losses) (2) (15)
Contributions by the Company 233 45
Benefits paid (316) (79)
Closing balance of fair value of plan assets 1,177 1,159
iv) Actual return on plan assets
March 31, 2022 March 31, 2021
Actual return on plan assets 74 65
v) Expense recognised in the Statement of Profit and Loss
183
March 31, 2022 March 31, 2021
Expense recognised in the Statement of Profit and Loss
Current service cost 536 337
Interest cost 175 110
Expected return on plan assets (76) (80)
Net actuarial (gains) / losses 334 599
Total expense 969 966
vi) Assets and liabilities recognised in the Balance Sheet
March 31, 2022 March 31, 2021
Assets and liabilities recognised in the Balance Sheet
Present value of funded obligation as at the year end 3,464 2,684
Less : Fair value of plan assets as at the year end 1,177 1,159
(Asset) / liability recognised in the Balance Sheet 2,287 1,525
Recognised as under:
Long-term provisions (Refer note 6) 2,287 1,525
vii) Reconciliation of present value of defined benefit obligation and the fair value of plan assets
March 31, 2022 March 31, 2021
Reconciliation of present value of defined benefit obligation and the fair value of plan assets
Present value of funded obligation as at the end of the year 3,464 2,684
184
Fair value of plan assets as at the end of the year 1,177 1,159
Present value of unfunded obligation as at the end of the year 2,287 1,525
viii) Other information
March 31, 2022 March 31, 2021
Other information
Expected employer's contribution for the next year 93 57
Other information
Expected employer's contribution for the next year 93 57
ix) Percentage of each category of plan assets to total fair value of plan assets
March 31, 2022 March 31, 2021
Percentage of each category of plan assets to total fair value of plan assets
Insurer managed funds 100% 100%
x) Disclosure as required under Para 120 (n) of AS-15
Year ended Year ended Year ended Year ended Year ended
2022 2021 2020 2019 2018
Present value of the defined benefit
obligation as at the year end 3,464 2,684 1,661 1,222 672
Fair value of the plan assets as the year

1,177 1,159 1,195 712 471
end
(Surplus) / deficit in the plan 2,287 1,525 466 510 201
185
Experience adjustment
On plan liabilities (gain) / loss 492 163 285 282 (33)
On plan assets gain / (loss) (2) (15) (1) (2) (22)
Total experience adjustment (gain) / loss 494 178 286 284 (11)
C. Other long-term benefits
Compensated absences is payable to eligible employees who have earned leaves, during the employment and / or on separation as per the
Company's policy. The compensated absences payable is as follows:
As at As at
March 31, 2022 March 31, 2021
Liability recognised in the Balance Sheet 1,835 1,317
Recognised as under:
Long-term provisions (Refer note 6) 1,694 1,226
Short-term provisions (Refer note 9) 141 91
25. Depreciation and amortisation expense
March 31, 2022 March 31, 2021
Depreciation and amortisation expense
Depreciation on property, plant and equipment (Refer note 10A) 362 491
Amortization on intangible assets (Refer note 10B) 49 156
411 647
186
26. Other expenses
March 31, 2022 March 31, 2021
Other expenses
Rent (Refer note 36)
-Premises 5,034 4,954
-Equipment and Computers 3,131 3,173
Insurance 272 264
Rates and taxes (Refer Note 1) 1,657 350
Royalty 2,229 934
Travelling 801 1,213
Payment to auditors
- Statutory audit fees 30 27
- reimbursement of expenses @ 1
IT charges (Refer Note 2) 1,319 4,718
Legal and professional fees 278 215
Net loss on sale / disposal of fixed assets - 9
Net loss on foreign currency transactions and translations - 168
Subcontractor charges, external resource cost, etc 15,349 13,496
Communication 1,370 1,565
187
Electricity 293 308
Bad debts 506 196
Provision for doubtful trade receivables and unbilled revenue 601 478
Expenditure towards Corporate Social Responsibility (CSR) activities (Refer note 38) 86 67
Miscellaneous 1,371 1,239
42,834 38,772
27. Earnings per share (EPS)

March 31, 2022 March 31, 2021
Earnings per share (EPS)
Profit after tax for basic earnings per share 14,120 2,906
Add: Interest on fully and compulsorily convertible unsecured debentures 2,681 2,704
Less: Tax relating to interest expense 675 681
Profit after tax for diluted earnings per share 16,126 4,929
Weighted average number of equity shares outstanding for basic EPS 10,432,620 8,934,971
Add: Adjustment for conversion of debentures 139,609,351 141,107,000
Weighted average number of equity shares outstanding for diluted EPS 150,041,971 150,041,971
Face value per equity share (In Rupees) 10 10
Basic earnings per share (In Rupees) 135.35 32.52
188
Diluted earnings per share (In Rupees) 10.75 3.29
Disclosure of revenue from sale of products explanatory [Text Block]

19. Revenue from operations
March 31, 2022 March 31, 2021
Revenue from operations
Revenue from contracts relating to building efficiency and refrigeration plants 46,074 23,833
Sale of component parts 184 43
Sale of products (chillers/compressor) 4,432 1,629
Income from maintenance services 16,757 15,112
Income from business support services 1,575 1,500
Other operating revenue
- Direct sales compensation 849 881
- Export incentives 500 368
155,220 103,751
189
Disclosure of notes on other income explanatory [Text Block]

20. Other income
March 31, 2022 March 31, 2021
Other income
Interest income
- On bank deposits - 1
- On loans 962 732
- On income tax refund - 408
Net gain on foreign currency transactions and translations 552 -
Provision for doubtful deposits written back - 32
Liabilities/provisions written back to the extent no longer required 202 296
Miscellaneous income 73 46
1,789 1,515
190
Disclosure of notes on finance cost explanatory [Text Block]

24. Finance costs
March 31, 2022 March 31, 2021
Finance costs
Interest on
- fully and compulsorily convertible unsecured debentures (Refer note 5) 2,681 2,704
- short-term borrowings 351 516
- payments due under the Micro, Small and Medium Enterprises Development Act, 2006 165 171
- shortfall of advance tax 114 31
3,311 3,422
[300600] Notes - Additional information statement of profit and loss

01/04/2021 01/04/2020
to to
31/03/2022 31/03/2021
Additional information on profit and loss account explanatory [TextBlock]
Total changes in inventories of finished goods, work-in-progress and
0 0
stock-in-trade
Revenue other services (A) 1,49,439 (B) 1,00,873
Total gross income from services rendered 1,49,439 1,00,873
Expenditure on dividend paid 0 0
Total expenditure in foreign currency 0 0
Total amount of dividend remitted in foreign currency 0 0
Total earnings in foreign currency 0 0
Domestic sale traded goods 4,432 1,629
Total domestic turnover goods, gross 4,432 1,629
Total revenue from sale of products 4,432 1,629
Domestic revenue services 60,342 38,335
Export revenue services 89,097 62,538
Total revenue from sale of services 1,49,439 1,00,873
Gross value of transaction with related parties as per AS-18 0 0
Bad debts of related parties as per AS-18 0 0
191
Footnotes
(A) Revenue from contracts relating to building efficiency and refrigeration plants - 46,074
Sale of component parts - 184
Income from maintenance services - 16,757
Income from engineering services - 57,012
Income from business support services - 1,575
Income from shared services - 27,837
(B) Revenue from contracts relating to building efficiency and refrigeration plants - 23,833
Sale of component parts - 43
Income from maintenance services - 15,112
Income from engineering services - 45,878
Income from business support services - 1,500
Income from shared services - 14,507
[300100] Notes - Revenue

01/04/2021
to
31/03/2022
Disclosure of revenue explanatory [TextBlock] [See below]
Disclosure of revenue explanatory [Text Block]

2.7. Revenue recognition
i) Revenue on contracts (time and material) is recognised as per the percentage of completion method based on the stage of completion of a
contract up to the reporting date. The stage of completion of a contract is determined as the proportion that contract costs incurred for work
performed up to the reporting date bear to the estimated total contract costs. Provisions are made for anticipated losses, if any, for contracts to
be completed in future.
In respect of contracts-in-progress as at the year-end:
- the gross amount due from customers representing costs incurred plus recognised profits (less recognised losses) less progress billings have
been disclosed as ‘Unbilled revenue toward contracts in progress’ under “Trade receivables”.
- the gross amount due to customers representing progress billings less costs incurred less recognised profits (plus recognised losses) is
disclosed as ‘Billing in excess of costs and earnings in respect of unfinished contracts’ under “Other current liabilities”.
ii) Revenue from sale of products (parts and components sold separately) is recognised when significant risk and rewards of ownership are
transferred to the buyer as per the terms of respective sales contract and provided that income can be measured reliably and is expected to be
received.
iii) Revenue from other maintenance services is recognised on pro-rata basis over the contract period. Revenue for repair jobs is recognised
on completion of job.
iv) Revenue from engineering services is recognised as services are provided at hourly/day/ monthly rates.
v) Revenue from direct sales compensation represents commission earned towards marketing support services rendered to group companies
based on the terms of arrangement with the respective group companies. Revenue is recognised on fulfillment of terms of arrangement.
vi) Revenue from business support services, being income earned towards providing support services in the nature of testing and analysis,
employee charges, etc. primarily to group companies on which fixed margin is charged based on the total cost incurred. Revenue is
recognised as services are provided.
vii) Revenue from shared services income being income earned towards providing accounting services to group companies on which fixed
margin is charged based on the total cost incurred. Revenue is recognised as services are provided.
viii) The benefit accrued under various schemes as per export and import policy in respect of exports made is included as ‘Export incentive’,
provided there is reasonable certainty of its recoverability considering prevailing notification/circular issued by authorities.
192
[202200] Notes - Effects of changes in foreign exchange rates

01/04/2021
to
31/03/2022
Disclosure of notes on effect of changes in foreign exchange rates Textual information (92)
explanatory [TextBlock] [See below]
193
Disclosure of notes on effect of changes in foreign exchange rates explanatory [Text Block]
2.6. Foreign currency translations
Initial recognition
On initial recognition, all foreign currency transactions are recorded by applying to the foreign currency amount the exchange rate between
the reporting currency and the foreign currency at the date of the transaction.
Subsequent recognition
At the reporting date, non-monetary items which are carried in terms of historical cost denominated in a foreign currency are reported using
the exchange rate at the date of the transaction. All monetary assets and liabilities in foreign currency are restated at the end of the accounting
year. Exchange differences on restatement/ settlement of all monetary items are recognised in the Statement of Profit and Loss.
29. CIF value of imports
March 31, 2022 March 31, 2021
CIF value of imports
Project material and traded components 14,814 6,932
14,814 6,932
30. Expenditure in foreign currency
March 31, 2022 March 31, 2021
Expenditure in foreign currency
Professional fees 183 27
Royalty 2,229 934
IT charges (net) 1,397 3,507
194
Subcontractor charges, external resource cost, etc 859 257
Travelling 488 997
Rates and Taxes 1,405 -
Others 417 146
14,757 10,688
31. Earnings in foreign currency
March 31, 2022 March 31, 2021
Earnings in foreign currency
Direct sales compensation 849 881
Revenue from contracts relating to building efficiency and refrigeration plants 3,000 964
Income from maintenance services 32 104
Income from business support services 996 692
89,097 62,538
32. Value of imported and indigenous materials consumed
Year ended March 31, 2022 Year ended March 31, 2021
Amount Percentage Amount Percentage
Imported 13,518 40.09 6,274 33.19
195
Indigenous 20,198 59.91 12,628 66.81
33,716 100.00 18,902 100.00
41. Particulars of unhedged foreign currency exposure
Foreign Currency Amount Foreign Currency Amount
Receivables USD (in lakhs) 285 21,570 136 10,011
EUR (in lakhs) 2 169 1 50
CAD (in lakhs) 1 56 1 40
GBP (in lakhs) @ 35 43 4,360
Payables USD (in lakhs) 96 7,279 76 5,574
EUR (in lakhs) 2 169 1 114
CNY (in lakhs) 33 393 11 123
GBP (in lakhs) 2 199 1 106
MYR (in lakhs) - - @ 1
SGD (in lakhs) @ 1 - -
AUD (in lakhs) 1 54 - -
DKK (in lakhs) 2 26 - -
Bank balance USD (in lakhs) @ 20 14 1,056
196
[300700] Notes - Key managerial personnels and directors remuneration and other information
Disclosure of key managerial personnels and directors and remuneration to key managerial personnels and directors [Table] ..(1)
Key managerial personnels and directors [Axis] 1 2 3
01/04/2021 01/04/2021 01/04/2021
to to to
31/03/2022 31/03/2022 31/03/2022
Disclosure of key managerial personnels and directors and
remuneration to key managerial personnels and directors [Abstract]
Disclosure of key managerial personnels and directors and
remuneration to key managerial personnels and directors
[LineItems]
(A) SHRIKANT
(B) PARAG (C) MARIAPPAN
Name of key managerial personnel or director SHRIKRISHNA
GUPTA SHYAM SUNDAR
BAPAT
Director identification number of key managerial personnel or
00680243 08509065
director
Permanent account number of key managerial personnel or director BNCPG9477P
Date of birth of key managerial personnel or director 13/03/1965 20/09/1991 20/05/1979
Designation of key managerial personnel or director Managing Director Company Secretary Director
Qualification of key managerial personnel or director B.E. CS LLB B.E.
Shares held by key managerial personnel or director [shares] 0 [shares] 0 [shares] 0
Key managerial personnel or director remuneration [Abstract]
Gross salary to key managerial personnel or director [Abstract]
Salary key managerial personnel or director 235
Gross salary to key managerial personnel or director 235 0 0
Total key managerial personnel or director remuneration 235 0 0
Footnotes
(A) Mr. Shrikant Shrikrishna Bapat, Managing Director w.e.f., 26th July, 2022
(B) Mr. Parag Gupta, Company Secretary have resigned from the Company w.e.f., 30 June 2022
(C) Mr. Mariappan Shyam Sundar, Director w.e.f. 26th August, 2022
[301000] Notes - Corporate social responsibility
Disclosure of net profits for last three financial years [Table] ..(1)
Financial year 1 Financial year 2 Financial year 3
Net profits for last three financial years [Axis]
[Member] [Member] [Member]
01/04/2021 01/04/2021 01/04/2021
to to to
31/03/2022 31/03/2022 31/03/2022
Disclosure of net profits for last three financial years [Abstract]
Disclosure of net profits for last three financial years [LineItems]
Description of financial year 2020-21 2019-20 2018-19
Profit before tax of financial year 4,865 6,294 1,054
Net profit computed u/s 198 and adjusted as per rule 2(1)(f)
5,360 5,627 1,957
of Companies (CSR Policy) Rules, 2014
197
Classification of CSR spending [Table] ..(1)

Classification of CSR spending [Axis] 1 2 3 4
01/04/2021 01/04/2021 01/04/2021 01/04/2021
to to to to
31/03/2022 31/03/2022 31/03/2022 31/03/2022
Disclosure of CSR spending [Abstract]
Details of CSR spent during financial year [Abstract]
Manner in which amount CSR spent during financial
year [Abstract]
Manner in which amount CSR spent during
financial year [LineItems]
Aasharyya durga –
Zero Hunger – Zero Hunger – Happy world
Preventive health
Distribution of dry Distribution of dry foundation –
CSR project or activity identified ration and cooked ration and cooked Plantation of 500
care at Rural
Districts of
Food Food Stapling’s
Maharashtra
Poverty, hunger, Poverty, hunger, Environmental
Sector in which project is covered malnutrition malnutrition sustainability
Health care
Whether projects or programs undertaken

Yes Yes Yes Yes
in local area or other
Name of state or union territory where
Maharashtra Maharashtra Karnataka Maharashtra
projects or programs was undertaken
Name of district where projects or programs
Pune Pune Bangalore Pune
was undertaken
Budget amount outlay project or program wise 3 7 7 3.3
Amount spent on projects or programs
[Abstract]
Direct expenditure on projects or programs 3 7 7 3.3
Total amount spent on projects or programs 3 7 7 3.3
Directly by Directly by Directly by Directly by
Mode of amount spent company company company company
Classification of CSR spending [Table] ..(2)

Classification of CSR spending [Axis] 5 6
01/04/2021 01/04/2021
to to
31/03/2022 31/03/2022
Disclosure of CSR spending [Abstract]
Details of CSR spent during financial year [Abstract]
Manner in which amount CSR spent during financial year [Abstract]
Manner in which amount CSR spent during financial year [LineItems]
Lila Poonawala
Foundation, Pune- A h w a h a n
CSR project or activity identified Sponsorship for Foundation- Health
Higher Education on Wheels
for Girl Child
Sector in which project is covered Education Health care
Whether projects or programs undertaken in local area or other Yes Yes
Name of state or union territory where projects or programs was undertaken Maharashtra Karnataka
Name of district where projects or programs was undertaken Pune Bangalore
Budget amount outlay project or program wise 20.99 45
Amount spent on projects or programs [Abstract]
Direct expenditure on projects or programs 20.99 45
Total amount spent on projects or programs 20.99 45
Directly by Directly by
Mode of amount spent company company
198

01/04/2021
to
31/03/2022
Disclosure of corporate social responsibility explanatory [TextBlock] [See below]
Whether provisions of corporate social responsibility are applicable on
Yes
company
Disclosure of composition of CSR committee [TextBlock] [See below]
Whether company has written CSR policy Yes
Details CSR policy [TextBlock] [See below]
Average net profit for last three financial years 4,314.67
Prescribed CSR expenditure 86.29
Amount CSR to be spent for financial year 86.29
Amount CSR spent for financial year 86.29
Amount unspent CSR 0
199
Disclosure of corporate social responsibility explanatory [Text Block]

i) Disclosures in relation to corporate social responsibility expenditure
Particulars 31-Mar-22 31-Mar-21
Contribution made to Ekansh Trust - Zero Hunger 10 -
Contribution made to Happy World Foundation -

7
Contribution made to Aashray - Durg -

3
Contribution made to Lila Poonawala Foundation, Pune 27 -
Contribution made to IIT Kanpur - Research and Development -

58
Contribution made to Lila Poonawala Foundation - Charitable Contribution for Higher education
-
for girls 9
Total 47
67
Amount required to be spent as per Section 135 of the Act 86

67
Amount spent during the year on:
(a) Construction / acquistion of any asset - -
(b) On purpose other than (a) above paid 47

67
Amount deposited in specified fund of schedule VII of the Act within 6 months [Refer Note in
- -
paragraph (ii) below]
Accrual towards unspent obligations in relation to:
200
Ongoing project - -
Other than ongoing projects 39 -
Provision towards towards shortfall in CSR obligation:
Opening balance - -
Less: Utilisation during the year - -
Add: Provision during the year 39
Closing balance 39 -
ii) Details of CSR expenditure under Section 135(5) of the Act in respect of other than ongoing projects
Opening Closing
Year Amount deposited in specified fund of Amount required to be Amount spent
unspent unspent
ended schedule VII of the Act within 6 months spent during the year during the year
balance balance
March
31, - - 86 47 39
2022
'Note: The Company was required to spend 86 in the current year towards Corporate Social Responsibility under Section 135(5) of the Act.
The Company spent 47 during the year and balance amount of 39 remains unspent as at the year end. Subsequent to year-end, the Company
has inadvertently spent the unspent amount of 39 for an activity specified under Schedule VII for promoting healthcare instead of depositing
the amount to a Fund specified in Schedule VII. However the Company is committed to its social responsibility and endeavour to utilise the
allocable CSR spend for the benefit of society.
iii) No contribution is made to related parties for any CSR projects
iv) Nature of CSR activities [Refer note 38(i) above]
v) Reasons for shortfall
Refer Note in paragraph (ii) above
vi) The company has not undertaken any ongoing projects towards CSR during the current year and previous year.
Annexure – A
ANNUAL REPORT ON CORPORATE SOCIAL RESPONSIBILITY (CSR) ACTIVITIES FOR THE FINANCIAL YEAR 2021-22
1. Brief outline on CSR Policy of the Company:
2. The composition of the CSR committee:
201
Number of
Number of
meetings of CSR
Committee held
during the year
the year
Managing
Director 1 1
Mr. Mariappan
02 Director 1 1
Shyam Sundar
3. The web-link where Composition of CSR committee, CSR Policy and CSR projects approved by the board are disclosed on the website of
the company:
The Company does not have a separate website and only has a group website. Hence, the CSR policy is not being displayed.
4. Provide the executive summary along with web-link(s) of Impact Assessment of CSR Projects carried out in pursuance of sub-rule (3) of
rule 8, if applicable.
Not Applicable to our Company.
5. (a) Average Net Profit of the Company as per section 135(5): INR 4,315 Lakhs /-
(b) Two percent of average net profit of the company as per section 135(5): INR 86.29 Lakhs/-
(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)): INR 86.29 Lakhs/-
6. (a) Amount spent on CSR Projects (both Ongoing Project and other than Ongoing Project)
Details of CSR amount spent against ongoing projects for the financial year: NIL
Details of CSR amount spent against other than ongoing projects for the financial year – INR 47 Lakhs
(b) Amount spent in Administrative Overheads: NIL
(c) Amount spent on Impact Assessment, if applicable: Not Applicable
(d) Total amount spent for the Financial Year (a+b+c): INR 47 Lakhs
(e) CSR amount spent or unspent for the Financial Year: INR 39 Lakhs (inadvertently Spent INR 45 Lakhs post Financial year on the
activities of Schedule VII of Companies Act, 2013)
Amount Unspent (in INR)
Total Amount
Total Amount transferred to Amount transferred to any fund specified
Spent for the
Unspent CSR Account as per under Schedule VII as per second proviso
Financial Year. (in
sub-section (6) of section 135. to sub-section (5) of section 135.
INR)
Date of Date of
Amount. Name of the Fund Amount.
transfer. transfer.
INR 92.01 Lakhs 0 N.A. N.A. 0 N.A.
202
(f) Excess amount for set off, if any
Sl.
Particular Amount (in INR)
No.
INR 86.29
(i) Two percent of average net profit of the company as per sub-section (5) of section 135
Lakhs
(ii) Total amount spent for the Financial Year INR 47 Lakhs
(iii) Excess amount spent for the financial year [(ii)-(i)] NIL
Surplus arising out of the CSR projects or programmes or activities of the previous financial years, if
(iv) NIL
any
(v) Amount available for set off in succeeding financial years [(iii)-(iv)] NIL
7. Details of Unspent CSR amount for the preceding three financial years:
Amount
Balance amount in Amount
Amount transferred Amount transferred to remaining to
unspent CSR spent in
Preceding to Unspent CSR any fund specified be spent in
Sl. Account under the Deficiency,
Financial Account under under Schedule VII as succeeding
No. sub-section (6) of Financial if any
Year. sub-section (6) of per sub-section (6) of financial
section 135 (in Year (in
section 135 (in INR) section 135, if any. years (in
INR) INR).
INR)
Date of
Amount (in Rs).
transfer.
INR
3. 2021-22 Nil Nil Nil Nil Nil Nil
39 Lakhs
Total
8. Whether any capital asset have been created or acquired through CSR amount spent in the financial year: No
If yes, enter the number of Capital assets created/ acquired: NIL
Furnish the details relating to such asset(s) so created or acquired through Corporate Social Responsibility amount spend in the Financial
Year:
203
Short particulars of the

Pin code of the Amount of Details of entity / Authority /
Sl. property or asset(s) Date of
property or CSR amount beneficiary of the registered
No. creation
[including complete address asset(s) spent owner
and location of the property]
(1) (2) (3) (4) (5) (6)
CSR Registration Number, if Registered

Name
applicable address
Not applicable
(All fields should be captured as appearing in the revenue record, flat no, house no, Municipal Office/ Municipal Corporation / Gram
panchayat are to be specified and also the area of the immovable property as well as boundaries)
9. Specify the reason(s), if the company has failed to spend two per cent of the average net profit as per section 135(5): The Company was
required to spend INR 86.29 Lakhs in the current year towards Corporate Social Responsibility under Section 135(5) of the Act. The
Company spent INR 47 Lakhs during the year and balance amount of INR 39 Lakhs remains unspent as at the year end. After year-end, the
Company has inadvertently spent the unspent amount of INR 39 Lakhs for an activity specified under Schedule VII for promoting healthcare
instead of depositing the amount to a Fund specified in Schedule VII. However, the Company is committed to its social responsibility and
endeavour to utilise the allocable CSR spend for the benefit of society.
_______________ _______________ ______________ _____________

Disclosure of composition of CSR committee [Text Block]

The composition of the CSR committee:
Number of
Number of
meetings of CSR
Committee held
during the year
the year
Managing
Director 1 1
Mr. Mariappan
02 Director 1 1
Shyam Sundar
204
Details CSR policy [Text Block]

Brief outline on CSR Policy of the Company:
205

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Standalone Financial Statements For Financial Year Ending On 31 March, 2022

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JOHNSON CONTROLS (INDIA) PRIVATE LIMITED

Standalone Financial Statements for period 01/04/2021 to 31/03/2022

[400100] Disclosure of general information about company

Disclosure of principal product or services [Table] ..(1)

[400400] Disclosures - Directors report

Details of directors signing board report [Table] ..(1)

Details of material contracts/arrangements/transactions at arm's length basis [Table] ..(1)

Details of material contracts/arrangements/transactions at arm's length basis [Table] ..(2)

Details of material contracts/arrangements/transactions at arm's length basis [Table] ..(3)

Details of material contracts/arrangements/transactions at arm's length basis [Table] ..(4)

Details of material contracts/arrangements/transactions at arm's length basis [Table] ..(5)

Unless otherwise specified, all monetary values are in Lakhs of INR

Disclosure of companies which have become or ceased to be its / >

Disclosure of appointment and remuneration of managerial personnels Textual information (25)

Textual information (1)

Auditors' qualification(s), reservation(s) adverse remark(s) in auditors' report

Textual information (2)

Auditors' qualification(s), reservation(s) adverse remark(s) in auditors' report

Textual information (3)

Directors' comment on auditors' qualification(s), reservation(s) adverse remark(s) in auditors' report

Textual information (4)

Directors' comment on auditors' qualification(s), reservation(s) adverse remark(s) in auditors' report

Textual information (5)

Directors' comment on auditors' qualification(s), reservation(s) adverse remark(s) in auditors' report

Textual information (6)

Description of nature of material contracts/arrangements/transactions with related party

Textual information (7)

Description of nature of material contracts/arrangements/transactions with related party

Textual information (8)

Disclosure in board of directors report explanatory [Text Block]

1. Financial summary or highlights/Performance of the Company

PARTICULARS 2021-22 2020-21

Amt in Lakhs (INR) Amt in Lakhs (INR)

Revenue from operations 1,55,220 1,03,751

Other income 1,789 1,515

Total revenue 1,57,009 1,05,266

Total expenses 1,37,940 1,00,401

Prior period expense - -

Profit before tax 19,069 4,865

Current tax 5,602 2,042

Deferred tax charge / (credit) (399) (686)

Profit for the year 14,120 2,906

13. Subsidiaries, Joint Ventures and Associate Companies:

14. Disclosure of composition of Audit Committee and providing Vigil Mechanism:

15. Share Capital

A) Issue of equity shares with differential rights

B) Issue of sweat equity shares

C) Issue of employee stock options

E) Conversion of Compulsorily Convertible Debentures (CCDs) into Equity

F) Transfer of Equity Shares

During the year under review no transfer of shares took place.

(i) the steps taken or impact on conservation of energy;

(ii) the efforts made towards technology absorption:

(C) Foreign exchange earnings and Outgo:

Earnings Amount (Lakhs)

Direct Sales Compensation 849

Income from engineering services 56,698

Income from maintenance services 32

_______ _ _____

_______ _ _____