Gillette_India_Limited_AR_20

Annual Report 2019-20 128 Notes to Financial Statements for the year ended June 30, 2020 Gillette India Limited 37 (a) Reimbursement/(Recovery) of expenses cross charged to related parties include payment/recoveries on account of finance, personnel, secretarial, administration and planning services rendered under common services agreement of the Company with Procter & Gamble Hygiene and Health Care Limited and Procter & Gamble Home Products Private Limited. (refer note 38). 37 (b) Certain expenses in the nature of employee costs, relocation costs and other expenses are cross charged by the Company to its fellow subsidiaries at actual. Similar expenses incurred by fellow subsidiaries are cross charged to the Company at actual. 38 (a) Managerial Remuneration The computation of managerial remuneration excludes an amount of ` 123 lakhs (Previous year: ` 147 lakhs) in respect of managerial personnel cross-charged from Procter & Gamble Hygiene and Health Care Limited and Procter & Gamble Home Products Private Limited in terms of common services agreement referred to in note 37 (a) above. 38 (b) Commission to Non-Executive Directors During the current year, an aggregate amount of ` 98 lakhs (Previous Year: ` 75 lakhs) has been provided as commission payable to the Non-Executive Directors which is within the overall limits of commission payable to such directors under Schedule V to the Companies Act, 2013. 39 Dividend Year ended June 30, 2020 ` in lakhs Year ended June 30, 2019 ` in lakhs Dividend on equity shares paid during the year Final dividend for the FY 2018-19: ` 25 (Previous year for FY 2017- 18: ` 23) per equity share of ` 10 each 8 146 7 495 Dividend distribution tax on final dividend 1 659 1 526 Interim dividend for the FY 2018-19: ` Nil (Previous year for FY 2018-19: ` 19) per equity share of ` 10 each — 6 191 Dividend distribution tax on interim dividend — 1 260 TOTAL 9 805 16 472 Proposed Dividend: The Board of Directors at its meeting held on August 26, 2020 have recommended a payment of final dividend of ` 49 per equity share of face value of ` 10 each for the financial year ended June 30, 2020 resulting in a dividend payout of ` 15 967 lakhs. The above is subject to approval at the ensuing Annual General Meeting of the Company and hence is not recognised as a liability.