Close
x
  • SMC open account icon Open an A/C
    • Open an A/C
    • CHOOSE YOUR OPTION(S)
    • Trading A/c
    • Mutual Fund A/c
    • NBFC A/c
    • NPS A/c
  • SENSEX Nov 26 2021 12:00
    57,107.15 -1,687.94 (-2.87%)
  • NIFTY Nov 26 2021 12:00
    17,026.45 -509.80 (-2.91%)
  • SENSEX Nov 26 2021 12:00
    57,107.15 -1,687.94 (-2.87%)
  • NIFTY Nov 26 2021 12:00
    17,026.45 -509.80 (-2.91%)
  • Nasdaq Nov 27 2021 04:30
    15,491.66 -353.57 (-2.23%)
  • DJIA Nov 27 2021 04:30
    34,899.34 -905.04 (-2.53%)
  • S&P 500 Nov 27 2021 04:30
    4,594.62 -106.84 (-2.27%)
  • Hang Seng Nov 26 2021 02:10
    24,080.52 -659.64 (-2.67%)
  • Crude Oil Nov 26 2021 11:54
    5,161.00 -676.00 (-11.58%)
  • Gold Nov 26 2021 11:54
    47,640.00 +219.00 ( +0.46%)
  • Silver Nov 26 2021 11:54
    62,119.00 -1,031.00 (-1.63%)
  • Copper Nov 26 2021 11:17
    728.00 -15.35 (-2.06%)
  • Pound / Rupee Dec 23 2016 22:30
    99.19 -0.17 (-0.17%)
  • Dollar / Rupee Dec 23 2016 22:30
    74.42 +0.01 ( +0.01%)
  • Euro / Rupee Dec 23 2016 22:30
    83.45 -0.02 (-0.02%)
  • Yen / Rupee Dec 23 2016 22:30
    0.65 0.00 (-0.13%)

Honeywell Automation India Ltd

BSE Code : 517174 | NSE Symbol : HONAUT | ISIN:INE671A01010| SECTOR : Consumer Durables |

NSE BSE
 
SMC up arrow

39,459.65

306.70 (0.78%) Volume 280564

26-Nov-2021 EOD

Prev. Close

39,152.95

Open Price

39,700.00

Bid Price (QTY)

0.00(0)

Offer Price (QTY)

39,459.65(4)

 

Today’s High/Low 40,832.55 - 39,201.05

52 wk High/Low 49,990.00 - 30,600.00

Key Stats

MARKET CAP (RS CR) 34851.17
P/E 80.93
BOOK VALUE (RS) 3033.7556561
DIV (%) 850
MARKET LOT 1
EPS (TTM) 487.15
PRICE/BOOK 12.9952456522756
DIV YIELD.(%) 0.22
FACE VALUE (RS) 10
DELIVERABLES (%) 50.12
4

News & Announcements

24-Nov-2021

Honeywell Automation India Ltd - Honeywell Automation India Limited - Loss of Share Certificates

16-Nov-2021

Finolex Cables Ltd Surges 3.86%

15-Nov-2021

Honeywell Automation slips after Q2 PAT declines 21% YoY

14-Nov-2021

Honeywell Automation India standalone net profit declines 21.15% in the September 2021 quarter

09-Nov-2021

Honeywell Automation India to declare Quarterly Result

20-Oct-2021

Honeywell Automation India wins bid for Bengaluru Safe City project

28-Jul-2021

Honeywell Automation India to discuss results

26-Jul-2021

Honeywell Automation India to conduct AGM

Corporate Actions

Bonus
Splits
Dividends
Rights
Capital Structure
Book Closure
Board Meeting
AGM
EGM
 

Financials

Income Statement

Standalone
Consolidated
 

Peers Comparsion

Select Company Name BSE Code NSE Symbol
Aditya Electro Communications Ltd 517405
AKG Acoustics (India) Ltd 517212 AKGACOUST
Alacrity Electronics Ltd 517362
Amber Enterprises India Ltd 540902 AMBER
Aplab Ltd 517096 APLAB
Artech Power Products Ltd 517481
Atcom Technologies Ltd 527007 ATCOM
B C C Fuba India Ltd 517246
Bells Controls Ltd 523626 BELCONTROL
Bharat Electronics Ltd 500049 BEL
BPL Display Devices Ltd 517143
BPL Engineering Ltd 500073 BPLENGG
Bull Power Systems Ltd (Wound-up) 530751
Centum Electronics Ltd 517544 CENTUM
Circuit Systems (India) Ltd 532913
Cosmo Ferrites Ltd 523100
CWD Ltd 543378
Delta Manufacturing Ltd 504286 DELTAMAGNT
Deltron Ltd 504256
Dighe Electronics Ltd 517510
Digital Electronics Ltd 503978
Eastern Circuits Ltd 517067
Elcaps Capacitors Ltd 517312
Electro Scan India Ltd 517179
Elnet Ltd (Wound-up) 517204
Euro Multivision Ltd 533109 EUROMULTI
Fifth Generation (I) Ltd 40376
Fine Line Circuits Ltd 517264
Five Core Electronics Ltd 535081 FIVECORE
Genus Power Infrastructures Ltd 530343 GENUSPOWER
Gujarat Instruments Ltd 523240
Gujarat Poly Electronics Ltd 517288
Hind Rectifiers Ltd 504036 HIRECT
Hindustan Magnetics Ltd (Wound-up) 523409
Hotline Glass Ltd 500195 HOTLINGLAS
Hotline Teletube & Components Ltd 517208
Hyderabad Flextech Ltd(merged) 522219
Hytaisun Magnetics Ltd 500197 HYTSNMAGNT
Icicon Electronics India Ltd 526069
Incap Ltd 517370
Indian Magnetics Ltd 523313
Indo-Maxwell Ltd 523546
Intech International Ltd 526145
Integrated Technologies Ltd 531889
JCT Electronics Ltd 500222 JCTEL
Kernex Microsystems (India) Ltd 532686 KERNEX
Khandelwal Hermann Electronics Ltd 504087
Linaks Microelectronics Ltd 517463
Madras Hi-Tech Circuits Ltd 517304
Maple Circuits Ltd 523256
Marutitelstar Industries Ltd 522223
Meltron Semiconductors Ltd 504107
MIC Electronics Ltd 532850 MIC
Micro Accessories India Ltd 523311
Micro Energy (India) Ltd 517483
Naina Semiconductor Ltd 526831
Namtech Electronic Devices Ltd 517269 NAMTECHELE
Nitiraj Engineers Ltd 538407 NITIRAJ
Nova Electro Magnetics Ltd 500309 NOVAELEMAG
Oceanic Magnetics Ltd 517457
Pan Electronics (India) Ltd 517397
Paras Magnetic Tapes Ltd 523305
Pentafour Products Ltd 500328 PENTFRPROD
Pentafour Solec Technology Ltd 500457 PENTFRSOLC
Permanent Magnets Ltd 504132 PERMAGNET
PG Electroplast Ltd 533581 PGEL
Procal Electronics India Ltd 526009
Professional Circuit Boards Ltd 517254
Pulz Electronics Ltd 535030 PULZ
Punsumi Foils & Components Ltd 511558
Punsumi India Ltd 517049 PUNSUMI
Qualitron Components Ltd 517127
Ruttonsha International Rectifier Ltd 517035
Saha Keil Ltd 504252
Samtel (India) Ltd 500371 SAMTELTD
Samtel Color Ltd 500372 SAMTEL
Samtel Electron Devices Ltd (Merged) 526825 SAMELECDEV
Sandur Laminates Ltd 531316
Satkar Electronics Ltd 517488
Schneider Electric President Systems Ltd 590033
Shivalik Bimetal Controls Ltd 513097 SBCL
Solectron EMS India Ltd(merged) 532956 SOLEMS
Spel Semiconductor Ltd 517166 SPICELEC
Star Precision Electronics (India) Ltd 513505
Strontium Ferriten India Pvt Ltd 530563
Suchitra Teletubes Ltd 517031
Technojet Consultants Ltd 509917
Techtrek India Ltd 513153
Tektronix (India) Ltd(Merged) 517177
Thakral Services (India) Ltd 509015
Tina Electronics Ltd 517560
UMS Technologies Ltd 530937
V P Telecom Ltd (Wound Up) 517284
VHEL Industries Ltd 517133 VIKASHYB
Videocon Narmada Electronics Ltd (Merged) 500441 VDONARMAD
Vijayta Audio World Ltd 40424
Vishva Electronics (India) Ltd 523513
Wellwin Industry Ltd 531369 WELLWININD
Weston Components Ltd 517092
Yokogawa India Ltd 517216 YOKOGAWA
Zicom Electronic Security Systems Ltd 531404 ZICOM

Share Holding

Category No. of shares Percentage
Total Foreign 243396 2.75
Total Institutions 1098198 12.42
Total Govt Holding 285 0.00
Total Non Promoter Corporate Holding 27420 0.31
Total Promoters 6631142 75.00
Total Public & others 841167 9.52
Total 8841523 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About Honeywell Automation India Ltd

Honeywell Automation India Ltd (HAIL) is a market leader in Electronics-Instrumentation and Process Control equipment industry. HAIL is leading provider of integrated automation and software solution that improves productivity enhancing comfort and ensuring the safety and security to homes and business premises. The company's main products are distributed control systems, building control systems and smart transmitters. The Company is engaged primarily in the business of Automation & Control systems on turnkey basis and otherwise. HAIL incorporated in January 1984 as Tata Process Controls Private Ltd in Maharashtra. The company became as a public limited company in May 1987. Initially the company promoted by Tata group. Thereafter it was promoted as a 40:40 Joint Venture company between Tata group and Honeywell Asia Pacific Inc, USA. In 2004, Tata group sold its share holding 40.62 per cent in favour of its foreign joint venture partner. Now Honeywell Asia Pacific Inc, holds 81.24 per cent of equity shares of the company. Honeywell has set up an impressive 36,000 square feet state-of-the-art manufacturing, design and engineering facilities in the industrial city of Pune in 1988. It is equipped with system integrated services, testing facilities, systems assembly & staging centre, printed wiring assembly manufacturing facility and a smart technology centre. In March 1993, the company came out with a Right Issue of 2080000 equity shares at a premium of Rs. 25 per share, aggregating Rs. 7.28 crores to part finance normal capital expenditure and long term working capital requirements, totaling Rs. 13.8 crores. The issue was fully subscribed. The allotment of the equity was made in May, 1993. In 1993-94, the company was awarded the prestigious ISO 9001 certificate. The certification covers the entire of its operations, from design to production, installation, commissioning, and extends into service support functions. The company was the first one and only company in India in the field of Industrial Automation and Control to be awarded this certification. The company has diversified its operations. It has also setup Software Technology Park (STP) in Pune and are now well established. In 1998-99 the STP operations are expanded at Chennai. In 2003, the Company's GPS Manufacturing was certified by the DRDO, the premier defense research organization in India. HAIL is also the first automation company in India to have received a double certification of ISO 14001 and OHSAS 18001. It reflects company's commitment towards quality services to its customer. In 2003-04, Honeywell decided to expand its existing facility to accommodate additional 300 people. It started to construct a new building in the existing premises. A state of the art Experion (new control system) testing centre will be housed in this building. During the year 2005, Honeywell completed construction of new building, which has provided additional seating space for 425 people and also provides space for the test labs. The company has also set up a new Electronic Hardware Technology Park (EHTP), to facilitate manufacturing and export of Electronic Systems. Honeywell launched a new business called Honeywell Security Group (HSG) in 2005. This business offers various Electronic security products and systems through a network of channel partners. This business has now taken roots and is poised for healthy growth in time to come. In 2006, Honeywell has made major capital investment to expand its manufacturing and office space. This will create 170,000 square feet of additional space at company's Pune headquarters and would cater to its current and future growth needs. Honeywell is the market leader today in most of the business areas it operates in.

Honeywell Automation India Ltd Chairman Speech

Dear Shareholders:

I am delighted to connect with you! These are trying times and I sincerely hope that you and your family members are safe and healthy.

We have all gone through – and survived – one of the most challenging years in recent history. The pandemic, which unfolded last year, has wreaked havoc across the world. India went into total lockdown in March 2020 and the impact was felt immediately. The country’s

GDP contracted in the first two quarters of FY 2020-21 driven by the nationwide lockdown and moderation in economic activities globally. However, with the gradual decrease in COVID-19 cases from October 2020 onwards, the economy bounced back to growth in third and fourth quarter. Almost all macro indicators had shown steady recovery between September and March 2021. However, the second wave of the pandemic impacted the pace of recovery.

Last year was a difficult year for most companies around the world. This holds true for your Company as well. However, under the leadership of a capable management team, your Company was quick to pivot and find opportunities to not only tide over a tough year, but also solve for some of the challenges thrown up by the pandemic. Your Company empowered customers with technology offeringsthat enabled them to continue operating optimally with reduced onsite staff. We fast-tracked development and deployment of technologies that helped enforce guidelines around safety and security in public spaces and commercial establishments. Importantly, your company demonstrated urgency and agility in establishing a production line for N95 respirators in Pune to equip frontline healthcare workers – despite the entire country being in lockdown mode. Some of the solutions that your Company brought to market will help build confidence among the public as we look at re-emerging from the second wave and resuming economic activities.

Non Nascor Mihi Solum - Live not for self alone. Moved by the plight of thousands of displaced and migrant families, your Company mobilised resources to distribute food and hygiene kits across nine cities. Understanding the criticality of preventive measures in stemming the spread of the virus, we partnered with the Government to distribute multilingual, illustrated educational material on the importance of hand-washing and social distancing in rural and peri-urban areas. As the impact of the second wave became evident, we worked with local and state authorities to build and hand over COVID-19 care centers and ICUs across multiple cities and towns. We will continue to find ways to help those who are less privileged but certainly not less deserving.

It would be incorrect to say that the end of this pandemic is in sight since there is still so much that is unknown to us. With the resilience and dedication of the leadership team, your Company will overcome these turbulent times. On your behalf, I would like to acknowledge the tremendous efforts of your Company’s employees at all levels and thank them for their hard work, dedication and continued commitment. I would also like to thank our customers, suppliers, bankers, and financial institutions.

Last but not the least, on behalf of Board of Directors of Honeywell Automation India Limited, I want to thank you for your continued trust, confidence, and support.

Dr. Ganesh Natarajan

Chairman & Independent Director

   

Honeywell Automation India Ltd Company History

Honeywell Automation India Ltd (HAIL) is a market leader in Electronics-Instrumentation and Process Control equipment industry. HAIL is leading provider of integrated automation and software solution that improves productivity enhancing comfort and ensuring the safety and security to homes and business premises. The company's main products are distributed control systems, building control systems and smart transmitters. The Company is engaged primarily in the business of Automation & Control systems on turnkey basis and otherwise. HAIL incorporated in January 1984 as Tata Process Controls Private Ltd in Maharashtra. The company became as a public limited company in May 1987. Initially the company promoted by Tata group. Thereafter it was promoted as a 40:40 Joint Venture company between Tata group and Honeywell Asia Pacific Inc, USA. In 2004, Tata group sold its share holding 40.62 per cent in favour of its foreign joint venture partner. Now Honeywell Asia Pacific Inc, holds 81.24 per cent of equity shares of the company. Honeywell has set up an impressive 36,000 square feet state-of-the-art manufacturing, design and engineering facilities in the industrial city of Pune in 1988. It is equipped with system integrated services, testing facilities, systems assembly & staging centre, printed wiring assembly manufacturing facility and a smart technology centre. In March 1993, the company came out with a Right Issue of 2080000 equity shares at a premium of Rs. 25 per share, aggregating Rs. 7.28 crores to part finance normal capital expenditure and long term working capital requirements, totaling Rs. 13.8 crores. The issue was fully subscribed. The allotment of the equity was made in May, 1993. In 1993-94, the company was awarded the prestigious ISO 9001 certificate. The certification covers the entire of its operations, from design to production, installation, commissioning, and extends into service support functions. The company was the first one and only company in India in the field of Industrial Automation and Control to be awarded this certification. The company has diversified its operations. It has also setup Software Technology Park (STP) in Pune and are now well established. In 1998-99 the STP operations are expanded at Chennai. In 2003, the Company's GPS Manufacturing was certified by the DRDO, the premier defense research organization in India. HAIL is also the first automation company in India to have received a double certification of ISO 14001 and OHSAS 18001. It reflects company's commitment towards quality services to its customer. In 2003-04, Honeywell decided to expand its existing facility to accommodate additional 300 people. It started to construct a new building in the existing premises. A state of the art Experion (new control system) testing centre will be housed in this building. During the year 2005, Honeywell completed construction of new building, which has provided additional seating space for 425 people and also provides space for the test labs. The company has also set up a new Electronic Hardware Technology Park (EHTP), to facilitate manufacturing and export of Electronic Systems. Honeywell launched a new business called Honeywell Security Group (HSG) in 2005. This business offers various Electronic security products and systems through a network of channel partners. This business has now taken roots and is poised for healthy growth in time to come. In 2006, Honeywell has made major capital investment to expand its manufacturing and office space. This will create 170,000 square feet of additional space at company's Pune headquarters and would cater to its current and future growth needs. Honeywell is the market leader today in most of the business areas it operates in.

Honeywell Automation India Ltd Directors Reports

Dear Members,

The Directors present the THIRTY SEVENTH ANNUAL REPORT with the audited financial statements of the Company for the financial year ended March 31, 2021.

Key highlights of financial performance of your Company for the financial year 2020-21 are provided below:

1. FINANCIAL RESULTS:

(INR in lakhs)

Particulars Year ended March 31, 2021 Year ended March 31, 2020 Year on Year Change
Sales & Other Income 312,675 338,766 (26,091)
Operating pro t 67,289 73,477 (6,188)
Less: Interest 621 687 (66)
Less: Depreciation 4,866 4,135 731
Pro t before tax for the year 61,802 68,655 (6,853)
Less: Income tax and deferred tax expenses 15,798 19,507 (3,709)
Pro t after tax for the year 46,004 49,148 (3,144)
Pro t brought forward from the previous year 197,967 153,616 44,351
Pro t available for appropriations 243,971 202,764 41,207

Revenue from operations registered a decline of 7.5%, Pro t before tax is 20.3% of revenue from operations as compared to 20.9% in previous year. Exports revenue decreased over previous year by 4%.

2. DIVIDEND:

Payment of nal dividend @ INR 85/- per equity share of face value of INR 10/- each was recommended by the Board of Directors at their meeting held on May 31, 2021 (Previous Year: INR 75/- per equity share). The dividend, if approved by the Members at the ensuing Annual General Meeting, will result in a total cash pay-out of NR 7,514 lakhs. Your Company is in compliance with its Dividend Distribution Policy as approved by the Board.

The closing balance of the retained earnings of the Company for FY 2020-21, after all appropriation and adjustments was INR 237,340 Lakhs.

Pursuant to Section 134 (3)(j), there is no amount to be transferred to reserve during the period under review.

3. OPERATIONS:

The Management Discussion and Analysis Report annexed herewith provides full details of operational performance and business analysis of the Company.

4. INDUSTRY OUTLOOK:

The details regarding Industry Outlook are given in the Management Discussion and Analysis Report which forms a part of this report.

5. HONEYWELL OPERATING SYSTEM (HOS):

Your Company continues to be focused on Honeywell Operating System (HOS) which encompasses end-to-end business system institutionalisation to enable and sustain exceptional growth along with productivity improvements through Total Customer Experience, New Product Introduction, Order to Cash and Integrated Business Planning. The foundation of HOS is Lean/Six Sigma, Order to Cash, Velocity Product Development, Agile CMMI, Honeywell User Experience, Commercial Excellence and Working Capital.

The Pune Fulgaon Factory and Global Services are at Silver level. Your Company is aspiring for higher level of

HOS maturity allowing them to be competitive by improving Total Customer Experience through demonstrating agility of a small company and benefits of the scale of larger organisation, excellence in Key Business Processes, Functional Transformation and Foundational initiatives.

6. HUMAN RESOURCES:

Honeywell believes in the immense potential of its human capital and acknowledges that our employees are the core growth engine for the Company. Your Company is committed to creating an inclusive, performance oriented and entrepreneurial culture that allows us to bring the best out of every individual and team. Honeywell is committed to creating an equal opportunity workplace, which promotes openness and diversity. Your Company has a strong employee value proposition that focuses on challenging work that matters, hiring and retaining the right people, sustained focus on talent and leadership development, differentiated rewards to drive exceptional performance, and community engagement.

Your Company deploys a Labour and Employment Relations framework which elicits feedback in our factory and supports action planning to drive engagement at all levels in the organisation.

As on March 31, 2021, the Company’s employee strength was 3175 as compared to 3310 (full-time employees) as on March 31, 2020. Women employees represent 17.9% of our workforce. The Company is fully compliant with the prevailing law namely Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal)

Act, 2013.

7. DIRECTORS AND KEY MANAGERIAL PERSONNEL:

During the period under review and till date of this Report, the following changes have taken place in the composition of the Board of Directors:

1. Expiration of tenure of Mr. Suresh Senapaty (DIN: 00018711) as an Independent Director and Chairman effective close of business hours on March 7, 2021 (from March 8, 2016 to March 7, 2021).

2. Appointment of Dr. Ganesh Natarajan (DIN: 00176393) as an Independent (Non-Executive) Director for a term of 5 ( ve) years with effect from March 8, 2021 to March 7, 2026. The said appointment is subject to approval of the shareholders at the 37th Annual General Meeting (AGM) of the Company. Further, appointment of Dr. Ganesh Natarajan as a Chairman of the Board of Directors of the Company effective March 8, 2021.

3. Resignation of Ms. Nisha Gupta (DIN: 02331771) as a Director with effect from close of business hours on May 12, 2020 due to other professional commitments and appointment of Mr. Davies Walker (DIN: 08737978) (Additional Director) with effect from May 13, 2020. Further, Mr. Davies Walker, who was appointed as a Director at the 36th Annual General Meeting held on August 18, 2020 resigned as a Director with effect from end of day November 8, 2020 due to other professional commitments.

4. Appointment of Mr. Atul Pai (DIN: 02704506) as an Additional Director (Non-Executive Director) of the Company with effect from November 9, 2020. The said appointment as a Director is subject to approval of the shareholders at the 37th Annual General Meeting of the Company.

The Board places on record its appreciation of the valuable contribution made by Mr. Suresh Senapaty, Ms. Nisha Gupta and Mr. Davies Walker during their tenure as a Directors on the Board.

As per the provisions of the Companies Act, 2013, Mr. Ashish Modi (DIN: 07680512) retires by rotation at the forthcoming AGM, and, being eligible, offers himself for re-appointment. The Board recommends his re-appointment.

Mr. Ashish Gaikwad, Managing Director, Mr. Amit Tantia, Chief Financial Of cer and Ms. Farah Irani, Company Secretary are the Key Managerial Personnel (KMP) of the Company, pursuant to the provisions of Companies Act, 2013, as on the date of this Report.

8. BOARD MEETINGS:

During the financial year under review, the Board of Directors of your Company duly met six times on May 22, 2020; August 6, 2020; November 9, 2020; February 4, 2021, February 5, 2021 and March 4, 2021. The intervening period between two Board meetings was well within the maximum gap of 120 days as prescribed under the provisions of the Companies Act, 2013.

Details of attendance at the Board Meetings is provided in the Corporate Governance Report, which forms part of this Annual Report.

9. COMMITTEES OF BOARD:

The Company’s Board has the following committees as per the requirements of the Listing Regulations and

Companies Act, 2013:

1. Audit Committee

2. Nomination and Remuneration Committee

3. Corporate Social Responsibility Committee

4. Stakeholders’ Relationship Committee

5. Risk Management Committee

Details of terms of reference of the Committees, Committee membership and attendance at meetings are provided in the Corporate Governance Report, which forms part of this Annual Report.

10. DECLARATION BY INDEPENDENT DIRECTORS:

The Company has received necessary declarations from each Independent Director under Section 149(7) of the Companies Act, 2013, that he/she meets the criteria of Independence laid down in and Section 149(6) of the Companies Act, 2013 and Regulation 25 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

11. BOARD EVALUATION:

Pursuant to the provisions of the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board has carried out an annual evaluation of its own performance, its Committees, as well as the Directors individually.

The outcome of the Board evaluation was discussed by the Nomination & Remuneration Committee at the Board

Meeting held on February 4, 2021 and improvement areas were discussed as well as reviewed the agreed action plan of previous year.

Details regarding process and criteria for evaluation are given in the Report on Corporate Governance, which forms a part of this Annual Report.

12. CODE OF CONDUCT COMPLIANCE:

The declaration signed by the Managing Director af rming compliance with the Code of Conduct by Directors and Senior Management, for the financial year ended March 31, 2021 is given in Report on Corporate Governance, which forms a part of this Annual Report.

13. CORPORATE SOCIAL RESPONSIBILITY:

Your Company remains committed to making the world a better place and expanding community outreach. As part of its initiatives under Corporate Social Responsibility (CSR), the Company, in partnership with leading non-pro t institutions, has developed effective programmes to address the needs in the communities it serves. The Annual Report on CSR activities, in accordance with Section 135 of the Companies Act, 2013, read with Companies (Corporate Social Responsibility Policy) Rules, 2014 as amended from time to time, is annexed herewith as "Annexure - 1" and a copy of the CSR Policy is also available on the Company’s website at the following link: https://www.honeywell.com/content/dam/honeywellbt/en/documents/downloads/india-hail/policies/corporate-social-responsibility-policy.pdf

14. AUDITORS: Statutory Audit:

Pursuant to the provisions of Section 139 of the Companies Act, 2013 and the rules framed thereunder, Deloitte Haskins & Sells LLP (Firm Registration No.117366W/W-100018) were re-appointed as the Statutory Auditors for a period of 5 years at the 36th Annual General Meeting of the Company to hold office from the conclusion of the 36th Annual General Meeting (AGM) up to the conclusion of the 41st AGM of the Company and on such remuneration as approved by the shareholders at 36th AGM which is re-produced below. The remuneration payable to the Statutory Auditor for the aforesaid term on an annual basis is as under:

Particulars Proposed per annum* 2020-21 to 2025-26
Statutory Audit Fees and Limited Review Fees INR 36,32,000

* Subject to addition or reduction upto 10% with prior approval of Audit Committee and Board.

Further, in addition to the above, the Statutory Auditors are also entitled to fees for others service like Audit of Internal Financial Controls, Tax Audit and Certificates etc. subject to prior approval of Audit Committee and Board.

Statutory Auditors’ Report:

There are no quali cations, reservations or adverse remarks made by Deloitte Haskins & Sells LLP (Firm Registration No.117366W/W-100018), Statutory Auditors, in their report for the financial year ended March 31, 2021. The Notes on financial statements referred to in the Auditors’ Report are self-explanatory.

Pursuant to provisions of section 143 (12) of the Companies Act, 2013, the Statutory Auditors have not reported any incident of fraud to the Audit Committee during the year under review.

Cost Audit:

In terms of the provisions of Section 148 and other applicable provisions of the Companies Act, 2013, read with the Companies (Audit and Auditors) Rules, 2014, Cost Audit was applicable to your Company for the financial year 2020-21. The Cost Audit Report for the financial year ended March 31, 2021 is due to be led on September 27, 2021.

In terms of the provisions of Section 148 and other applicable provisions of the Companies Act, 2013, read with Rule 14 of the Companies (Audit and Auditors) Rules, 2014, Cost Audit is applicable to your Company for the financial year 2021-22. The Board of Directors at its meeting held on May 31, 2021 pursuant to recommendation of the Audit Committee, appointed C S Adawadkar & Co., as the Cost Auditor for the financial year ending March 31, 2022 at a remuneration of INR 7,00,000/- plus GST and re-imbursement of out-of-pocket expenses. The remuneration is placed before the Annual General Meeting for rati cation of the members.

The Company has maintained the cost accounts and records as specified by the Central Government under sub-section (1) of section 148 of the Companies Act, 2013 for the financial year ended March 31, 2021.

Secretarial Audit:

In terms of the provisions of Section 204 of the Companies Act, 2013 and Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Board of Directors of the Company appointed J B Bhave & Co, Practicing Company Secretaries as Secretarial Auditors of the Company for the financial year 2020-21. The report of the Secretarial Auditors is enclosed as "Annexure - 2" to this report. The Secretarial Audit Report does not contain any quali cation, reservation or adverse remark.

15. RELATED PARTY TRANSACTIONS:

The particulars of contracts or arrangements with related parties referred to in Section 188(1) of the Companies Act, 2013, read with 8(2) of Companies (Accounts) Rules, 2014 are enclosed herewith as "Annexure - 3". https://www.honeywell.com/content/dam/honeywellbt/en/documents/downloads/india-hail/policies/Related%20 Party%20Transactions%20Policy%202019.pdf

16. RISK MANAGEMENT:

Your Company has an Enterprise Risk Management framework, administered by the Risk Management Committee, to develop, implement and monitor the effectiveness of risk management processes for the Company. This framework enables identi cation, assessment, monitoring and mitigation of strategic, operational, compliance and financial risks that are key to achieving our business objectives. Risks are identified, evaluated and prioritised based on their likelihood of occurrence and severity of business impact. Major risks identified by the businesses and functions are systematically addressed through mitigation plan and governance and reviewed by the Risk Management Committee and Audit Committee/Board.

17. COMPANY POLICY ON DIRECTORS’ APPOINTMENT AND REMUNERATION:

The Company policy on Directors’ appointment and remuneration and other matters as provided in Section 178(3) of the Companies Act, 2013 is available on the website of the Company https://www.honeywell.com/in/en/hail

18. WHISTLE BLOWER POLICY / VIGIL MECHANISM:

In line with requirement under Section 177(9) and (10) and Regulation 22 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, your Company has established a whistle blower/vigil mechanism for its employees and Directors to report their genuine concerns. The details of the same are explained in the Corporate Governance Report.

19. INTERNAL FINANCIAL CONTROLS:

The Board has adopted the policies and procedures for ensuring the orderly and efficient conduct of its business, including adherence to the 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.

20. HOLDING COMPANY:

During the financial year under review, the Company is a subsidiary of HAIL Mauritius Limited, the ultimate holding Company being Honeywell International Inc. USA. The Company does not have any Joint Venture(s) or Associate Company(s) or Subsidiary Company(s).

21. TRANSFER OF AMOUNTS TO INVESTOR EDUCATION AND PROTECTION FUND

As required under Section 124 of the Companies Act, 2013, the unclaimed dividend lying with the Company for a period of seven years pertaining to the financial year ended December 31, 2012, amounting to INR 242,980/- was transferred during the financial year 2020-21, to Investor Education and Protection Fund established by the Central Government.

Pursuant to the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2017, for the dividend declared for the financial year ended December 31, 2013, there were no shareholders whose equity share(s) were liable to be transferred to IEPF under the rules for taking appropriate action(s).

Members who have not encashed the dividend warrant(s) so far for the financial year ending December 31, 2013 or any subsequent years are requested to make their claim by emailing the signed documents at csg-unit@tcplindia.co.in and courier/post the original signed documents at the Company(s) Registered office or to the Office of the Registrar and Transfer Agents: TSR Darashaw Consultants Pvt. Ltd. (previously TSR Darashaw Ltd.). It shall be noted that once the dividend is transferred to the Investor Education and Protection Fund as above, no claim shall lie with the Company in respect of such amount.

22. PARTICULARS OF EMPLOYEES:

A statement containing particulars of employees as required under Section 197(12) of the Companies Act, 2013, read with Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, is provided in "Annexure 6" forming part of this Report. As per the first proviso to Section 136(1) of the Act, the Annual Report is being sent to the members excluding the aforesaid annexure. The said information is available for inspection at the registered office of the Company during working hours. Any member interested in obtaining such information may write to the Company Secretary and the same will be furnished on request.

The ratio of the remuneration of each Director to the median employee’s remuneration and other details prescribed in Section 197(12) of the Companies Act, 2013, read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, are attached to this Report as "Annexure 4" - Statement of Disclosure of Remuneration.

The Nomination and Remuneration Policy of the Company is available on the website of the Company at the weblink https://www.honeywell.com/content/dam/honeywellbt/en/documents/downloads/india-hail/policies/ Nomination-and-Remuneration-Policy.pdf

23. DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013:

Your Company respects and values diversity reflected in various backgrounds, experiences, and ideas and is committed to providing employees with a workplace that is free from discrimination or harassment. The Company has adopted a policy on prevention, prohibition, and redressal of sexual harassment at workplace in line with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. Every employee is required to complete mandatory online training on Prevention of Sexual Harassment at Workplace.

The Company has Internal Complaints Committees (IC) established in accordance with the aforesaid Act for addressing sexual harassment incidents.

No complaint on sexual harassment was received by the Company during the financial year under review.

24. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186:

The Company has not made any loans, guarantees or investments during the year under review, pursuant to the provisions of Section 186 of the Companies Act, 2013.

25. MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY:

There are no material changes and commitments 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.

26. SIGNIFICANT AND MATERIAL ORDERS:

There are no significant and material orders during the financial year ended March 31, 2021 passed by the regulators or courts or tribunals impacting the going concern status and Company’s operations.

27. DEPOSITS:

The Company has not accepted any deposits from public and as such, no amount on account of principal or interest on deposits from public was outstanding as on the date of the balance sheet in accordance with the Companies Act, 2013 read with Companies (Acceptance of Deposits) Rules, 2014 and amendments thereto.

28. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE:

Information required under Section 134 of the Act read with Rule 8 (3) of the Companies (Accounts) Rules, 2014, with respect to conservation of energy, technology absorption and foreign exchange earnings/outgo is included in "Annexure 5".

29. MANAGEMENT DISCUSSION & ANALYSIS / CORPORATE GOVERNANCE REPORT:

The Management Discussion and Analysis Report and Corporate Governance Report pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 are annexed and form part of the Annual Report.

30. ANNUAL RETURN:

Pursuant to Section 92 (3) of the Companies Act, 2013 and Rule 12 (1) of the Companies Management and Administration) Rules, 2014, the annual return is available on the website of the Company at the weblink: https://www.honeywell.com/content/dam/honeywellbt/en/documents/downloads/india-hail/financials/annual-reports/Annual-Return-2020-21.pdf

31. LEGAL COMPLIANCE REPORTING:

The Head Legal, the Company Secretary, and Chief Financial Of cer of the Company monitor the legal compliance reporting process and advise the Company on compliance issues with respect to the laws of various jurisdictions in which the Company has its business activities.

The Company has a compliance management tool to review and monitor compliances with laws applicable to the respective function. Additionally, the Company has a practice of obtaining quarterly compliance certificates from various functional heads for compliance with laws applicable to the respective function. A consolidated report on compliance with applicable laws is presented to the Board every quarter for review. To take care of the continuously evolving compliance scenario, the Company is constantly striving to strengthen the compliance reporting framework.

32. CORPORATE GOVERNANCE REPORT:

Your Company believes in adopting best practices of corporate governance.

As per regulation 34 of the Listing Regulations, a separate section on corporate governance practices followed by your Company, together with a certificate from Bokil Punde & Associates, Company Secretaries, on compliance with corporate governance norms under the Listing Regulations, is provided in Corporate Governance Report which forms a part of this Annual Report.

33. DIRECTORS’ RESPONSIBILITY STATEMENT:

Pursuant to provisions of Section 134(3)(c) and Section 134(5) of the Companies Act, 2013, your Directors make the following statements:

a) In the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any;

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 as on March 31, 2021 and of the profit for the year April 1, 2020 to March 31, 2021;

c) The Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d) The Directors have prepared the annual accounts on a going concern basis;

e) The Directors have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and were operating effectively;

f) 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.

34. COMPLIANCE WITH SECRETARIAL STANDARDS:

Your Directors con rm that the Secretarial Standards issued by the Institute of Companies Secretaries of India, as applicable to the Company, have been duly complied with.

35. DIVIDEND DISTRIBUTION POLICY:

The SEBI (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2016 read with Noti cation dated July 8, 2016 mandate formulation of a dividend distribution policy by Top 500 listed entities based on market capitalisation. In compliance with the Regulation, the Company has formulated a dividend distribution policy prescribing the parameters for the dividend distribution. The policy is also available on the Company’s website at the following link: https://www.honeywell.com/content/dam/honeywellbt/en/documents/downloads/ india-hail/policies/dividend-distribution-policy.pdf

36. BUSINESS RESPONSIBILITY REPORT:

The SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 mandates inclusion of the Business Responsibility Report (BRR) as a part of the annual report for Top 500 listed entities based on market capitalisation. In compliance with the Regulation, the BRR forms part of this Annual Report.

37. ACKNOWLEDGMENT:

The Board of Directors would like to place on record its appreciation and thanks to all its employees for their contribution. The Board also places on record its appreciation of the valuable contributions made by

Mr. Suresh Senapaty, Ms. Nisha Gupta and Mr. Davies Walker during their tenure as Directors. The Board wishes to acknowledge the support it has received from its shareholders, investors, customers, vendors, regulatory authorities and bankers.

For and on behalf of Board of Directors of
Honeywell Automation India Limited
Dr. Ganesh Natarajan
Pune, May 31, 2021 Chairman

Registered Office:

56 & 57, Hadapsar Industrial Estate,

Pune – 411 013, Maharashtra

CIN: L29299PN1984PLC017951 Tel: +91 20 7114 8888

Email: HAIL.InvestorServices@Honeywell.com

Website: https://www.honeywell.com/in/en/hail

   

Honeywell Automation India Ltd Company Background

Ganesh NatarajanAshish Gaikwad
Incorporation Year1984
Registered Office56 & 57,Hadapsar Industrial Estate
Pune,Maharashtra-411013
Telephone91-20-66039400,Managing Director
Fax91-20-66039800
Company SecretaryFarah Irani
AuditorDeloitte Haskins & Sells LLP
Face Value10
Market Lot1
ListingBSE,MSEI ,NSE,
RegistrarTSR Darashaw Consultants P Ltd
C-101 1st Floor ,247 Park Vikhroli W ,Lal Bahadur Marg ,Mumbai - 400 083

Honeywell Automation India Ltd Company Management

Director NameDirector DesignationYear
Ashish Gaikwad Managing Director 2021
Farah Irani Company Secretary 2021
Neera Saggi Non-Exec. & Independent Dir. 2021
Akshay Bellare Non-Exec & Non-Independent Dir 2021
Ashish Modi Non-Exec & Non-Independent Dir 2021
Ganesh Natarajan Chairman & Independent Directo 2021
Atul Pai Non-Exec & Non-Independent Dir 2021

Honeywell Automation India Ltd Listing Information

Listing Information
BSE_500
BSE_CG
BSE_200
BSEDOLLEX
CNX500
BSEMID
CNX_MNC
BSEALLCAP
INDUSTRIAL
MID150
LMI250
MSL400
NFTYLM250
NFTYMC150
NFTYMSC400
NF500M5025

Honeywell Automation India Ltd Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Manufactured Products & Jobs NA 0001831.49
Services Rendered Rs.0001021.63
Trading Goods NA 000418.3
Other Operating Revenue NA 00018.59
Others NA 0000
Various - Traded NA 0000
Systems No 0000
Instruments No 0000
Transmitters No 0000
Process Control Systems Lot0000
Excise Duty NA 0000
Adjustment NA 0000
Other - Traded NA 0000

Contact us Contact us