224 32ND ANNUAL REPORT 2023-24 | HERITAGE FOODS LTD Standalone STRATEGIC REVIEW STATUTORY REPORT FINANCIAL STATEMENTS 41. Related party disclosures (a) Names of the related parties and nature of relationship Names of related parties Nature of relationship Heritage Nutrivet Limited (“HNL”) Subsidiary Company Heritage Novandie Foods Private Limited (“HNFPL”) Joint Venture SKIL Raigam Power (India) Limited Associate Heritage Employees Welfare Trust Controlled Trust Heritage Finlease Limited Enterprise over which Vice - Chairperson and Managing Director, Executive Director and President of the Company exercise significant influence Nirvana Holdings Private Limited Enterprise over which Vice - Chairperson and Managing Director and Executive Director of the Company exercise significant influence NTR Memorial Trust N Devaansh Relative of Executive Director and Vice-Chairperson & Managing Director N Bhuvaneswari (Vice Chairperson and Managing Director) Key Managerial Personnel (KMP) N Brahmani (Executive Director) M Sambasiva Rao (President) Srideep Madhavan Nair Kesavan (Chief Executive Officer) A Prabhakara Naidu (Chief Financial Officer) Umakanta Barik (Company Secretary & Compliance Officer) Sri Vishnu Raju Nandyala (upto 21 October 2023) Non-Executive Independent Directors Rajesh Thakur Ahuja Aparna Surabhi Muthu Raju Paravasa Raju Vijay Kumar A V Girija Kumar (w.e.f 1 June 2023) V Nagaraja Naidu Non-Executive Director (b) Transactions with related parties For the year ended 31 March 2024 31 March 2023 Heritage Nutrivet Limited Investment made (including financial guarantee) 1.18 1.00 Sale of products 6.88 5.52 Financial guarantee income 3.35 2.05 Purchases 998.96 743.79 Lease rental income - 0.41 Purchase of Property, plant and equipment - 0.45 Expenditure incurred on behalf of HNL 1.87 1.16 Brand income 1.46 1.11 Heritage Novandie Foods Private Limited Investment made (including financial guarantee) 98.00 55.50 Sale of products 10.87 14.45 Purchase of products - 0.04 Financial guarantee income 2.20 2.20 Summary of the material accounting policies and other explanatory information (All amounts in ₹ millions, except share data and where otherwise stated)
RkJQdWJsaXNoZXIy NTE5NzY=