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Pursuant to the provisions of Section 129(3) of the Companies Act, 2013, a statement containing
salient features of financial statements of Subsidiaries and Joint Venture companies in Form AOC-1 is
attached separately to this Annual Report. The performance, financial position and contribution of
each of the Subsidiaries and Joint Venture companies to the performance of the Company, is
provided under Management Discussion and Analysis Report, which is presented separately and
forms part of this Report. The policy for determining material subsidiaries as approved by the Board
of Directors of the Company is available on the website of the Company -
https://futureconsumer.in/investors. aspx#policies-code As on 31st March, 2024, Aadhaar
Wholesale Trading and Distribution Limited, Integrated Food Park Limited and The Nilgiri Dairy Farm
Private Limited have been identified as material subsidiaries of the Company as per the thresholds
laid down under the aforesaid policy. In accordance to the provisions of Section 136(1) of the
Companies Act, 2013, the Annual Report of the Company, containing therein standalone and the
consolidated financial statements of the Company and the audited financial statements of each of
the subsidiary companies have been placed on the website of the Company - www.futureconsumer.
in. The audited financial statements in respect of each subsidiary company shall also be kept open
for inspection at the Registered Office of the Company during working hours for a period of 21 days
before the date of ensuing Annual General Meeting. The aforesaid documents relating to subsidiary
companies can be made available to any Member interested in obtaining the same upon a request in
that regards made to the Company. FINANCIAL STATEMENTS Pursuant to the Companies (Indian
Accounting Standards) Rules, 2015 (“IND AS”) notified by the Ministry of Corporate Affairs, the
Company has adopted the Indian Accounting Standards with effect from 1st April, 2016. Accordingly,
the Standalone and Consolidated Financial Statements of the Company and its subsidiaries, for the
year ended 31st March, 2024 have been prepared in accordance with IND AS. The audited
Consolidated Financial Statements prepared in accordance with IND AS are provided in this Annual
Report. PARTICULARS OF LOANS GRANTED, GUARANTEE PROVIDED AND INVESTMENTS MADE
PURSUANT TO THE PROVISIONS OF SECTION 186 OF THE COMPANIES ACT, 2013 Details of loans
granted, guarantees provided and investments made by the Company under the provisions of
Section 186 of the Companies Act, 2013, are provided under Note No. 38 to Standalone Financial
Statements of the Company, forming part of this Annual Report. RELATED PARTY TRANSACTIONS
The Company has formulated policy on materiality of related party transactions and dealing with
related party transactions (“RPT Policy”) in accordance to the provisions of Companies Act, 2013 and
SEBI Listing Regulations. The RPT Policy is available on the website of the Company -
https://futureconsumer.in/ investors.aspx#policies-code. All transactions with related parties are
placed before the Audit Committee for review and are approved by the Independent Directors being
members of the Audit Committee. Prior omnibus approval is obtained for transactions with related
parties which are repetitive in nature. All transactions entered into with related parties during the
financial year under review were in the ordinary course of business and on an arm’s length basis.
The disclosure in respect of material contracts or arrangements with related parties, as required
under Section 134(3)(h) of the Companies Act, 2013 is made in Form AOC-2 which is annexed to this
Report as Annexure I. INTERNAL AUDIT AND INTERNAL FINANCIAL CONTROLS The Company has an
internal audit system commensurate with the size of the Company and the nature of its business.
The Company has appointed M/s. S N & Co, Chartered Accountants as the Internal Auditors of the
Company. The internal auditor prepares an annual audit plan based on risk assessment and conducts
extensive reviews covering financial, operational and compliance controls. Improvements in
processes are identified during reviews and communicated to the management on an ongoing basis.
The Audit Committee of the Board monitors the performance of the internal auditors on a periodic
basis through review of audit plans, audit findings and issue resolution through follow- ups. Each
year, there are at least four meetings in which the Audit Committee reviews internal audit findings.
Internal Audit function plays a key role in providing to both the management and to the Audit
Committee, an objective view and re-assurance of the overall internal control systems and
effectiveness of the risk management processes and the status of compliances with operating
systems, internal policies

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Pursuant to the provisions of Section 129(3) of the Companies Act, 2013, a statement containing

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