Between the

Between the fashionable statements

Business Overview

Corporate Inside

1

Founder's Statement

6

In 50 years :

New orbits of growth

8

Creating a strong brand 12

Ensuring Quality

22

Strenthening the human 24 bond

Statutory Reports

Board's Report

26

Annexures to the

37

Board's Report

Management Discussion 72 and Analysis

Corporate Governance 79 Report

Business Responsibility 96 Report

Financial Reports

Standalone Financials 104

Consolidated Financials 164

Form AOC - 1

226

This Annual Report is available online at rupa.co.in

On the special occasion of completing 50 glorious years, Hon'ble Governor of West Bengal, Shri Kesri Nath Tripathi and Smt. J. Charukesi, Post Master General,

Kolkata Region, has released "Special Cover Envelope & My Stamp" with respect to Rupa on April 27, 2018.

Corporate Information

Board of Directors Mr. Prahlad Rai Agarwala, Chairman Mr. Ghanshyam Prasad Agarwala, Vice-Chairman Mr. Kunj Bihari Agarwal, Managing Director Mr. Ramesh Agarwal, Whole-time Director-cum-

Chief Financial Officer Mr. Mukesh Agarwal, Whole-time Director Mr. Niraj Kabra, Executive Director (Additional)

(w.e.f. February 12, 2018) Mr. Arihant Kumar Baid, Whole-time Director

(upto January 15, 2018) Mr. Satya Brata Ganguly, Independent Director Mr. Dipak Kumar Banerjee, Independent Director Mr. Dharam Chand Jain, Independent Director Mr. Sushil Patwari, Independent Director Mrs. Alka Devi Bangur, Independent Director Mr. Vinod Kumar Kothari, Independent Director

Company Secretary & Compliance Officer Mr. Kundan Kumar Jha

Registrar and Share Transfer Agent Maheshwari Datamatics Pvt. Ltd. 23, R. N. Mukherjee Road, 5th Floor Kolkata - 700 001 E-mail ID: mdpldc@ Website: mdpl.in

Statutory Auditors M/s. Singhi & Co. Chartered Accountants

Secretarial Auditor M/s. Nidhi Bagri & Company Practising Company Secretary

Board Committees Audit Committee Mr. Vinod Kumar Kothari, Chairman Mr. Ramesh Agarwal, Member Mr. Mukesh Agarwal, Member Mr. Satya Brata Ganguly, Member Mr. Dipak Kumar Banerjee, Member Mr. Sushil Patwari, Member

Nomination & Remuneration Committee Mr. Dipak Kumar Banerjee, Chairman Mr. Sushil Patwari, Member Mr. Vinod Kumar Kothari, Member

Corporate Social Responsibility Committee Mr. Prahlad Rai Agarwala, Chairman Mr. Kunj Bihari Agarwal, Member Mr. Vinod Kumar Kothari, Member

Stakeholders' Relationship Committee Mr. Sushil Patwari, Chairman Mr. Ramesh Agarwal, Member Mr. Mukesh Agarwal, Member

Operations' Committee Mr. Kunj Bihari Agarwal, Member Mr. Ramesh Agarwal, Member Mr. Mukesh Agarwal, Member

Bankers IndusInd Bank Ltd State Bank of India Citibank N.A. Standard Chartered Bank HDFC Bank Ltd Kotak Mahindra Bank Ltd Development Credit Bank Ltd BNP Paribas Bank DBS Bank The Hongkong and Shanghai Banking Corporation Ltd.

Registered Office Metro Tower, 8th Floor, 1, Ho Chi Minh Sarani, Kolkata - 700 071

Phone: +91-33-4057 3100, Fax: +91-33-2288 1362 Website: rupa.co.in, E-mail ID: connect@rupa.co.in

CIN: L17299WB1985PLC038517

A journey of a thousand miles begins with a single step. Our journey began in 1968, when the domestic innerwear market was totally unorganised. We worked hard and created a brand with the best fits, and at the most affordable rates.

Despite a challenging economy with rising prices, slow growth and high interest rates ? we created something of value for our fashion-conscious generation. Along the way, we have built a robust talent pool and entered unexplored markets. We have also met changing customer aspirations and emerged as a significant player in the domestic knitwear industry. In the midst of all this, our commitment to sustainability has remained unchanged. Today, the consumption pattern in developing economies is driven primarily by rising population, growing disposable income, expanding middle-class. With this, we are witnessing an era of new growth.

Our ability to keep innovating down the years and creating an array of globaldesi brands thereby earning the trust and respect of our stakeholders, has made us the nation's largest and a successful home-grown knitwear brand.

In this vastly changed economic and domestic business landscape we are committed to create stakeholders value, and suitably poised to play a pivotal role and create a more fashionable innerwear and fashionwear market.

Our quest for creating fashion has a long way to go

3

of creating a fashionable powerhouse

Insight: Rupa & Company Limited, a Kolkata based hosiery Company, founded by the first generation entrepreneurs - Mr. Prahlad Rai Agarwala, Mr. Ghanshyam Prasad Agarwala and Mr. Kunj Bihari Agarwal, has moved from strength to strength and established itself as one of the largest knitwear Company. Today, as India's largest knitwear brand the Company is engaged in various product categories, like ? Innerwear, Casualwear, Kidswear, Winterwear and Footwear. These products have been serving the growing needs and demands of the Indian knitwear & fashionwear industry for decades. The Company's iconic boutique of brand includes Jon, Frontline, Euro, Bumchums, Torrido, Thermocot, Softline, Macroman, Macroman M-Series, Macrowoman W-Series and Footline.

Trivia!

Rupa is the first Company in India from SUPIMA to manufacture quality innerwear products made of qualitative American Pima Cotton.

Rupa's WOS has acquired exclusive licence of the brands "FCUK" and "FRUIT OF THE LOOM" to manufacture, market, distribute and sell various knitwear products in India.

VALUES

Excellence Agile

Vision

Y To consolidate our position as the national frontrunner and to be a global leader in the innerwear and casual wear categories.

Y To constantly pursue the spirit of innovation and improvement for creating best-quality products.

Ethos

Rupa overhauls its portfolio periodically to the fast-changing requirements, evolving the market in line with changing times.

4

Integrity

Innovation

Mission

Y To exceed the customer's expectations by consistently offering the best products across different categories.

Y To promote the latest R & D and to follow eco-friendly production processes.

Y To create and deliver value for all stakeholders.

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