मैट्रिक्स
 
 
नैशनल प्लास्टिक इंडस्ट्रीज निदेशकों की रिपोर्ट, नैशनल प्लास्टिक इंडस्ट्रीज निर्देशकों द्वारा रिपोर्ट

नैशनल प्लास्टिक इंडस्ट्रीज

बीएसई: 526616  |  NSE: N.A  |  ISIN: INE233D01013  |  Plastics

खोजें नैशनल प्लास्टिक इंडस्ट्रीज कनेक्शन Mar 16
निदेशकों की रिपोर्ट वर्षांत : Mar '18

Dear Members,

The Directors present their 31st Annual Report on business and operations of your company together with the Audited Financial Statements of the Company, for the year ended March 31, 2018.

FINANCIAL RESULTS

Particulars

2017-2018

2016-2017

Sales & Other Income

1,226,596,536

1,092,923,320

Gross Profit before Depreciation & Interest

102,430,288

78,722,480

Less : Interest

34,791,400

27,423,309

Depreciation

25,312,912

21,183,261

Profit for the year

42,325,977

30,115,910

Less : Prior Period Adjustment

-

-

Less : Deferred Tax Liabilities

9,803,846

30,269,270

Net Profit after Tax

32,522,131

(153,360)

Less : Depreciation due to Transitional Provision Effect

-

-

Add : Balance brought forward from previous year (Adjusted)

16,329,747

25,920,233

Balance Available for appropriation

48,851,878

25,766,873

Appropriation

Proposed Dividend

9,129,600

Dividend Tax

1,858,572

Grant Adjustments

-

295,795

Other Comprehensive Income

2,053,195

1,255,251

Transfer to General Reverse

-

-

Balance C/f to Balance Sheet

50,905,073

16,329,747

Notes:

*Amount in 2017-18 are as per Indian Accounting Standards

**The Directors in the Board Meeting held on May 29, 2018 had recommended a final dividend amounting to Re.1 per equity share subject to approval by the members in the Annual General Meeting. Since as per the requirement of Para 12 & 13 of the IND AS 10 - Events occurring after the Reporting Period provision for the proposed dividend is disallowed and the same is not recorded as an appropriation for the FY 2017-18 and would be recorded on approval in the Annual General Meeting.

COMPANY’S OPERATIONAL PERFORMANCE

During the financial year ended March 31, 2018 the total sales & other income for the year was at Rs.122.66 Crore as against Rs.109.29 Crore for the year 2016-2017. Out of this, exports were Rs.16.52 Crore as against Rs. 15.62 Crore for the year 2016-2017. The Company is working on consolidating its strengths in the key markets and exploring avenues to penetrate in the European markets to increase export sales in the coming years

Net Sales were Rs.105.56 Crores as against Rs.94.80 Crores in the previous year. The profit after tax for the year under review was at Rs. 3.25 Crores.

Your Company performed well during the year by efficiently managing the resources, which resulted into improved performance and increase in profit and EPS.

The Company has endeavored to bring out new & unique moulded furniture for improving the sales of the products. The Company is taking all necessary steps to reduce wastages and make production cost efficient and will surely be able to achieve its targets.

The PVC flooring Mats business in Nellore, Andhra Pradesh in the southern part of the country under the brand name INSTA has done fairly well during the year 2017-18.

The air-cooler business of the Company was marginal during the year.

DIVIDEND

Your Company is rewarding its shareholders by way of consecutive dividends considering the consistent financial performance of your Company and promising future prospects. Your Directors have recommended a dividend of Re. 1 per share (10%) (previous year Re. 1 per share) on the Paid up Equity shares of face value of Rs.10/- each for the FY 2017-18 subject to the approval of members at the ensuing 31st Annual General Meeting of the Company. The total outflow on account of Equity Dividend will be Rs.1.09 Crores (inclusive of Tax of Rs. 0.18 Crores)

SUBSIDIARY COMPANY

The Company does not have any Subsidiary Company.

SHARE CAPITAL

There was no change in the Company’s share capital during the year under review. The Company’s paid up Equity Share Capital remained Rs. 912.96 lakhs comprising of 91,29,600 equity shares of Rs.10 each as on March 31, 2018.

TRANSFER TO RESERVES

The Company has not appropriated any profits to general reserves for the year 2017-18.

EXTRACT OF ANNUAL RETURN

As required pursuant sub-section (3) of Section 92 of the Companies Act 2013, read with Rule 12 of the Companies (Management and Administration) Rules, 2014 the extract of the Annual Return as at March 31, 2018 forms part of this report as Annexure - 1.

NUMBER OF MEETINGS OF THE BOARD

Regular meetings of the Board were held to discuss and decide on various business policies, strategies and other businesses. The Board met four (4) times during the FY 2017-18 viz. on May 13, 2017, August 10, 2017, November 08, 2017 and February 13, 2018. The maximum interval between any two meetings did not exceed 120 days.

Attendance of each Director at these meetings is as under:

Name of Director

Category

No. of Board Meetings Attended

Mr. Paresh V. Parekh

Promoter Executive

4

Mr. Ketan V. Parekh

Promoter Executive

4

Mr. Harsh P. Parekh*

Executive Director

3

Mrs. Jyoti Palekar

Non-Executive Independent

4

Mr. Dilip Thaker

Non-Executive Independent

4

Mrs. Neeta K. Parekh

Non-Executive

3

*Mr. Harsh P. Parekh was chief Financial Officer till May 13, 2017. He was appointed as Additional Director w.e.f June 01, 2017 and thereafter, he is appointed as Whole-time Director in the 30th Annual General Meeting held on September 20, 2017.

Separate Meeting of Independent Directors

A meeting of the Independent Directors of the Company was held on May 13, 2017 and the same was attended by Mr. Dilip Thaker and Mrs. Jyoti Palekar.

Number of Meetings of Committees of the Board of Directors

The Company has the following Committees of the Board:

1. Audit Committee

The Audit Committee is constituted as required under Section 177 of the Companies Act, 2013. The scope of activities and powers of the Audit Committee includes the areas prescribed under Section 177 of the Companies Act, 2013.

Four (4) Audit Committee meetings were held during the financial year 2017-20118 viz. on May 13, 2017, August 10, 2017, November 08, 2017 and February 13, 2018. The composition of the Audit Committee and the attendance of the Audit Committee Members at the said meetings are as below:

Sr. No.

Name of the Director

Position

Meetings Attended

1

Mr. Dilip Thaker

Chairman

4

2

Mrs. Jyoti Palekar

Member

4

3

Mr. Paresh V. Parekh

Member

4

2. Stakeholders Relationship Committee

The Stakeholders Relationship Committee met four (4) times during the financial year 2017-18 viz. on May 13, 2017, August 10, 2017, November 08, 2017 and February 13, 2018. The composition of the Stakeholders Relationship Committee and the attendance of the Stakeholders Relationship Committee Members at the said meetings are as below:

Sr. No.

Name of the Director

Position

Meetings Attended

1

Mrs. Jyoti Palekar

Chairperson

4

2

Mr. Paresh V. Parekh

Member

4

3

Mr. Ketan V. Parekh

Member

4

3. Nomination and Remuneration Committee

The Nomination and Remuneration Committee met three (3) times during the financial year 2017-18 viz. on May 13, 2017, August 10, 2017 and February 13, 2018. The composition of the Nomination and Remuneration Committee and the attendance of the Nomination and Remuneration Committee Members at the said meetings are as below:

Sr. No.

Name of the Director

Position

Meetings Attended

1

Mrs. Jyoti Palekar

Chairperson

3

2

Mr. Dilip Thaker

Member

3

3

Mrs. Neeta Parekh

Member

3

4. Executive Management Committee

The Executive Management Committee met 30 times during the Financial Year 2017-18 viz. on April 03, 2017, April 17, 2017, April 25, 2017, April 28, 2017, May 08, 2017, May 29, 2017, June 08, 2017, June 19, 2017, July 06, 2017, July 14, 2017, July 24, 2017, August 01, 2017, August 16, 2017, August 28, 2017,September 07, 2017, September 20, 2017, October 13, 2017, October 23, 2017, November 09, 2017, November 20, 2017, November 27, 2017, December 12, 2017, January 03, 2018, January 15, 2018, January 22, 2018, January 29, 2018, February 15, 2018, February 26, 2018, March 08, 2018 and March 16, 2018.

Sr. No.

Name of the Director

Position

Meetings Attended

1

Mr. Paresh V. Parekh

Chairman

26

2

Mr. Ketan V. Parekh

Member

27

3

Mrs. Neeta Parekh

Member

27

DIRECTORS AND KEY MANAGERIAL PERSONNEL:

a) Composition

The Board of your Company is duly constituted in accordance with the requirements of Companies Act, 2013. During the year under review the Board Comprised of 6 Directors out of which 3 are Executive Directors, 1 Non-Executive Director and 2 Non-Executive Independent Director.

b) Retirement by Rotation

In terms of Section 152 of the Companies Act, 2013 and the Articles of Association of the Company, Ms. Neeta K. Parekh (DIN: 00811690), Non-Executive Director of the Company, who retires by rotation at the ensuing Annual General Meeting and being eligible offers herself for re-appointment.

The proposal regarding the re-appointment of the aforesaid Director is placed for your approval. The Board of Directors recommends her re-appointment.

c) Declaration by Independent Directors

The Company has received declaration from all the Independent Directors of Company confirming that they meet with the criteria of Independence as prescribed pursuant to the provisions of Section 149(6) of the Companies Act, 2013 and Regulation 16(1)(b) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

e) Familiarization Program for Independent Directors

The Company has set Familiarization Program for Independent Directors with regard to their roles, rights, responsibilities in the Company, nature of the industry in which the Company operates, the business model of the Company etc. The details of which are available on the website of the Company (www.nationalplastic.com).

f) Board Evaluation

In terms of the provisions of the Companies Act, 2013 a structured questionnaire was prepared after taking into consideration the various aspects of the Board functioning like composition of the Board and its committees, culture, execution and performance of Specific duties, obligations and governance.

The Board carried out an annual performance evaluation of its own performance, the individual Directors as well as the working of the Committees of the Board. The performance evaluation of the Independent Directors was carried out by the entire Board. The performance evaluation of the Non Independent Directors was carried out by Independent Directors.

g) Key Managerial Personnel

Mr. Harsh P. Parekh resigned as the Chief Financial Officer of the Company with effect from May 14, 2017. He was appointed as the Additional Director and thereafter, Whole Time Director of the Company with effect from June 01, 2017 and September 20, 2017 respectively, and his appointment as Whole-Time Director was approved by the Members at the ensuing 30th Annual General Meeting of the Company.

Mr. Umesh L. Shenoy was re-designated as the Chief Financial Officer of the Company with effect from May 14, 2017.

Ms. Swati Zawar has resigned as Company Secretary and Compliance Officer w.e.f April 10, 2018 and Ms. Malvika Sharma has been appointed as Company Secretary and Compliance Officer w.e.f May 29, 2018.

Mr. Paresh Parekh, Managing Director; Mr. Ketan Parekh, Joint Managing Director; Mr. Harsh Parekh, Whole Time Director; Mr. Umesh Shenoy, Chief Financial Officer and Ms. Malvika Sharma, Company Secretary of the Company are the Key Managerial Personnel as per the provisions of the Companies Act, 2013.

DIRECTORS’ RESPONSIBILITY STATEMENT

Pursuant to Section 134(5) of the Companies Act, 2013, your Directors confirm that:

i. in the preparation of the annual accounts for the year ended March 31, 2018, the applicable accounting standards had been followed along with proper explanations relating to material departures;

ii. they 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 at March 31, 2018 and of the profits of the Company for the financial year ended March 31, 2018;

iii. they have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

iv. they had prepared the annual accounts on a going concern basis;

v. they had laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively; and

vi. they had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

DETAILS OF REMUNERATION TO DIRECTORS

The information relating to remuneration of directors as required under Section 197(12) of the Companies Act, 2013 is given in Annexure - 2.

POLICY RELATING TO DIRECTORS

The policy framed by the Nomination & Remuneration Committee under Section 178(3) of the Companies Act, 2013 is as below:

Appointment Criteria and Qualifications

a) The Committee shall identify and ascertain the integrity, qualification, expertise and experience of the person for appointment as Director, KMP or at Senior Management level and recommend to the Board his / her appointment.

b) The Committee shall identify the extent to which the appointee is likely to contribute to the overall effectiveness of the Board, work constructively with the existing directors and enhance the efficiencies of the Company;

c) The Committee has discretion to decide whether qualification, expertise and experience possessed by a person are sufficient / satisfactory for the concerned position.

Remuneration to Directors

i. Remuneration to Whole-time / Executive / Managing Director:

The Remuneration/ Compensation/ Commission etc. to be paid to Director /Managing Director etc. shall be governed as per provisions of the Companies Act, 2013 and rules made there under including any amendments thereto or any other enactment for the time being in force. The Wholetime / Executive / Managing Director shall be eligible for a monthly remuneration as may be approved by the Board on the recommendation of the Committee. The break-up of the pay scale and quantum of perquisites including employer’s contribution to PF, pension scheme, medical expenses, club fees etc. shall be decided and approved by the Board on the recommendation of the Committee and approved by the shareholders and Central Government, wherever required.

If, in any financial year, the Company has no profits or its profits are inadequate, the Company shall pay remuneration in accordance with the provisions in Schedule V of the Companies Act, 2013 and if it is not able to comply with such provisions, with the previous approval of the Central Government.

If, any Whole-time Director/Managing Director draws or receives, directly or indirectly by way of remuneration any such sums in excess of the limits prescribed under the Companies Act, 2013 or without the prior sanction of the Central Government, wherever required, he/she shall refund such excess remuneration to the Company and until such sum is refunded, hold it in trust for the Company. The recovery of such sums refundable shall not be waived by the Company unless permitted by the Central Government.

ii. Remuneration to Non- Executive / Independent Director:

The Non-Executive/Independent Director may receive remuneration / compensation /commission as per the provisions of Companies Act, 2013 and the rules made thereunder. The amount of sitting fees shall be subject to ceiling/ limits as provided under Companies Act, 2013 and rules made there under including any amendments thereto or any other enactment for the time being in force.

The Independent Director shall not be entitled to any stock option of the Company.

Evaluation

The Committee shall carry out evaluation of performance of every Director at regular interval (yearly). Removal

The Committee may recommend, to the Board with reasons recorded in writing, removal of a Director, KMP or Senior Management Personnel subject to the provisions and compliance of the said Act, rules and regulations.

Retirement

The Director, KMP and Senior Management Personnel shall retire as per the applicable provisions of the Act and the prevailing policy of the Company. The Board will have the discretion to retain the Director, KMP, Senior Management Personnel in the same position/ remuneration or otherwise even after attaining the retirement age, for the benefit of the Company.

Employees

None of the employees of the Company were drawing a remuneration exceeding Rs.1,02,00,000/- per annum or Rs. 8,50,000/- per month or part thereof. The information required under Section 197 (12) of the Companies Act, 2013 read with Rule 5(2) & (3) of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 as amended by Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2016 is given in the Annexure - 3 to this report.

Your Directors value the commitment of the employees towards the Company and appreciate their valuable contributions for the progress and growth of the Company.

AUDITOR AND AUDITOR’S REPORT a) Statutory Auditor

At the Company’s 30th Annual General Meeting held on September 20, 2017, M/s. R.S. Prabhu & Associates, Chartered Accountants (Firm registration No. 127010W), were appointed as Company’s Statutory Auditors to hold office till the conclusion of the 35th Annual General Meeting, subject to ratification by the members at every Annual General Meeting until the expiry of the period of original appointment. However, the Companies Amendment Act, 2017 (Vide notification dated May 7, 2018 issued by Ministry of Corporate Affairs) omits the provision related to Annual Ratification from Companies Act, 2013 and the requirement of seeking ratification of appointment of statutory auditors by members at each AGM has been done away with. Accordingly, no such item has been considered in notice of the 31st AGM.

The Auditors Report to the shareholders for the year under review does not contain any qualification reservation, adverse remark or disclaimer.

The Notes on Financial Statements referred to in the Auditors’ Report are self-explanatory and do not call for any further comments.

Reporting of fraud by the Auditor under Section 143(12) of the Companies Act, 2013

The Board of Directors states that M/s. R.S. Prabhu & Associates,Chartered Accountants, Mumbai (Firm Reg no. 110639W), Statutory Auditors have not reported of any fraud involving any amount committed by the Company to the Central Government or to the Board of Directors or Audit Committee of the Company.

b) Secretarial Auditor

Pursuant to the provisions of Section 204 of the Companies Act, 2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company had appointed M/s. Jayshree A. Lalpuria, Practicing Company Secretaries, to undertake the Secretarial Audit of the Company for the FY 2017-18. The Report of the Secretarial Audit carried out is annexed herewith as Annexure -4.

The Secretarial Audit report, as issued by the secretarial auditor in Form MR-3 contain following observations or qualifications requiring explanation or comments from the Board under Section 134(3) of the Companies Act, 2013:

Observation 1: The Unaudited Financial Results (UFR) of the Company for the quarter ended 30th June, 2017 were approved by the Board at its meeting held on August 10, 2017 and the same were submitted with the BSE Ltd. in pdf within stipulated time, however the same which were required to be filed in XBRL mode within 24 hours from the conclusion of the Board Meeting, were filed in XBRL mode on August 10, 2017.

Remark: Due to some technical error, the company was not able to file the XBRL report on time.

Observation 2: There was delay in few cases for issue of duplicate share certificates beyond period of 30 days, as required under Regulation 39 of the SEBI(LODR), 2015.

Remark: In few cases due to holidays or delay in courier the timeline prescribed by SEBI has not be followed.

The Board at its meeting held on May 29, 2018, has on the recommendation of the Audit Committee re-appointed M/s. Jayshree A. Lalpuria, Practicing Company Secretaries, as Secretarial Auditor, for conducting Secretarial Audit of the Company for the FY 2018-19.

c) Cost Auditor

M/s. N. Ritesh & Associates, Cost Accountants, are appointed as the Cost Auditors of the Company under Section 148 of the Companies Act, 2013 to conduct the audit of the cost records of the Company for the financial year 2018-2019. Necessary resolution for ratification of the remuneration to be paid to the Cost Auditors is included in the Notice of the Annual General Meeting for seeking approval of members.

LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186

The Company has not given, during the year under review, any loan, guarantee or invested any funds falling under the purview of Section 186 of the Companies Act, 2013.

Details of outstanding investments are given in the notes to financial statements.

RELATED PARTY TRANSACTIONS

All the related party transactions that were entered into during the financial year were at arm’s length basis and were in the ordinary course of business. There were no materially significant related party transactions with the Directors, Promoters, Key Managerial Personnel or other designated persons which may have a potential conflict with the interest of the Company at large. Accordingly, the disclosure of Related Party Transactions as required under Section 134(3)(h) of the Companies Act, 2013 in Form AOC-2 is not applicable.

All Related Party Transactions as required under Indian Accounting Standards AS-24 are reported in Note 32 Notes to Accounts of the financial statements of the Company.

All related party transactions are placed before the Audit Committee and the Board for approval.

CORPORATE GOVERNENCE

The compliance with the provisions of Corporate Governance under the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 is not applicable to the Company. Hence, the Report on Corporate Governance as stipulated under Schedule II and Regulation 33 (1) (e) read with Schedule IV of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 does not form part of the Annual Report.

MANAGEMENT’S DISCUSSION AND ANALYSIS

In terms of the provisions of Regulation 34 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Management Discussion and Analysis is set out in this Annual Report.

DEPOSITS

The Company has not accepted any Deposit covered under Section 73 of the Companies Act, 2013 from the Shareholders or the Public during the year under review.

INSURANCE

All the insurable interests of the company including inventories, building, plant & machinery etc. are adequately insured.

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

The Company has in place a policy on Prevention of Sexual Harassment at Workplace in line with the requirements of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. The policy provides for protection against Sexual Harassment of Women at Workplace and for prevention and redressal of complaints.

No complaints were received from any employee during the financial year 2017-18 and hence, no complaints are outstanding as on March 31, 2018 for redressal.

VIGIL MECHANISM

The Company has formulated a Vigil Mechanism Policy for Directors and employees to report their genuine concerns about unethical behaviour, actual or suspected fraud or violation of the Codes of Conduct or policy. The necessary mechanism is in line with the requirements under the Companies Act, 2013. It provides for adequate safeguards against victimization of Directors and employees who avail of the mechanism and also provide for direct access to the Chairman of the Audit Committee in exceptional cases. None of the Whistle Blowers have been denied access to the Audit Committee. The said policy is available on the Company’s website www.nationalplastic.com under the Investor Section.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

The particulars relating to conservation of energy, technology absorption, foreign exchange earnings and outgo, as required to be disclosed pursuant to Section 134 of the Companies Act, 2013 read with Rule 8(3) of Companies (Accounts) Rules, 2014 form part of this report and are set out in the Annexure - 5 to this report.

RISK MANAGEMENT POLICY

The Board of Directors of your Company has formulated a Risk Management Policy for the Company. It aims to identify, evaluate risks associated with the business viz. economic environment and market conditions, fluctuations in foreign currency, political environment, contractual compliance, credit risks, technology obsolescence, inflation, commodity prices, price fluctuation of raw materials and finished goods etc. Mitigation plans for the identified risks are drawn up based on the type of risks.

In the opinion of the Board, none of the above mentioned risks threaten the existence of the Company.

INTERNAL CONTROL SYSTEM AND THEIR ADEQUACY

Your Company’s Internal Control System, commensurate with the size, scale and complexity of its business operations. Your Company has maintained a proper and adequate system of internal controls. To maintain its objectivity and independence, the Internal Auditor reports to the Chairman of the Audit Committee of the Board.

The Internal Auditor monitors and evaluates the efficacy and adequacy of internal control system in the Company, its compliance with operating systems, accounting procedures and policies at all locations of the Company. Based on the report of internal auditor, corrective actions are undertaken in the respective areas and thereby strengthening the controls. Significant audit observations and corrective actions thereon are presented to the Audit Committee of the Board.

The Board has adopted policies and procedures for ensuring that all transactions are authorized, recorded and correctly reported, all assets are safeguarded and protected against loss from unauthorized use or disposition, reducing wastages and maintenance of proper accounting records for ensuring accuracy and reliability of its financial information. The Board has constituted an Audit Committee which meets periodically to review the financial performance and the accuracy of financial records.

The Management duly considers and takes appropriate action on the recommendations made by the Statutory Auditors and the Audit Committee of the Board of Directors.

COMPLIANCE WITH SECRETARIAL STANDARDS

The Company is in compliance with the applicable Secretarial Standards issued by the Institute of Company Secretaries of India and approved by the Central Government under Section 118(10) of the Act.

STATUTORY DISCLOSURE

a. There is no change in the nature of business of the Company.

b. In terms of the first proviso to Section 136 of the Companies Act, 2013, the Report and Accounts are being sent to all the shareholders and is available on the Company’s website.

c. There have been 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.

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS

There are no significant material orders passed by the Regulators/Courts which would impact the going concern status of the Company’s operations in future.

LISTING FEES

The Company has paid the Annual Listing fees to BSE Ltd. for the Financial Year 2018 - 2019.

TRANSFER TO INVESTOR EDUCATION AND PROTECTION FUND (IEPF)

During the year under review, Your Company has transferred a sum of Rs.10,14,322/- (Rupees Ten Lakhs Fourteen Thousand Three Hundred Twenty Two only) to Investor Education and Protection Fund, in compliance with the provisions of Section 124(5) of the Companies Act, 2013. The said amount represents dividend for the FY 2009-10 which remained unclaimed by the members of the Company for a period exceeding 7 years from its due date of payment.

During the year 2017-18, 510232 equity shares in respect of which dividend has not been claimed by the shareholders for seven consecutive years for the final dividend declared in financial year 2009-10, were transferred to the Investor Education and Protection Fund pursuant to the provisions of Section 124(6) of the Companies Act, 2013 and the rules there under. The details of the shares and shareholders are available on the Company’s website.

GREEN INITIATIVE

Your Company has considered and adopted the initiative of going green minimizing the impact on the environment. The Company has been circulating the copy of the Annual Report in electronic format to all those members whose email addresses are available with the Company. Your Company appeals other Members also to register themselves for receiving Annual Report/documents in electronic form. The E-Communication Registration Form has been annexed at the end of the annual report on page no. 101.

AWARDS AND CERTIFICATION

Your Directors are having immense pleasure to inform the members that the company has consecutively awarded third time Export Award winner by the Plastics Export Promotion Council.

ACKNOWLEDGEMENTS

Your Directors take this opportunity to express their deep and sincere gratitude to the customers and investors for their confidence and patronage, as well as to the vendors, bankers, financial institutions, and business associates, regulatory and governmental authorities for their co-operation, support and guidance. Your Directors would like to express a deep sense of appreciation for the support extended by the Company’s unions and commitment shown by the employees in its continued robust performance on all fronts.

For and on behalf of the Board of Directors

Paresh V. Parekh Ketan V. Parekh

Managing Joint Managing

Date: August 03, 2018 Director Director

Place: Mumbai DIN: 00432673 DIN: 00432734

स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `1352 Cr की खरीदारी की
  • MARKET CUES : DIIs ने कैश में `985 Cr की बिकवाली की
  • MARKET CUES : FIIs ने F&O में `2645 Cr की खरीदारी की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `417 Cr की बिकवाली
  • MARKET CUES : इंडेक्स ऑप्शंस में `2929 Cr की खरीदारी
  • MARKET CUES : स्टॉक फ्यूचर्स में `66 Cr की बिकवाली
  • MARKET CUES : स्टॉक ऑप्शन में `199.26 Cr की खरीदारी
  • MACQUARIE ON CHOLA FIN : Outperform रेटिंग, लक्ष्य `300/Sh
  • MACQUARIE ON SBI LIFE : Underperform रेटिंग, लक्ष्य `645/Sh
  • CLSA ON DB CORP : BUY रेटिंग, लक्ष्य `185/Sh

अभी देखें

OUR WINNING PICKS

DID YOU INVEST?

INTRADAY PICKS!

(August 06, 2018)

AT (Rs)



GAIN (Rs)

ALL TIME WINNERS

RECO PRICE

PEAK PRICE

OUR PACKAGES

Super Combo

Powerful mix of both trader and investor packs with timely expert advice.

Technical

Designed especially for traders looking to tap the profit opportunities of volatile markets.

Fundamental

For all investors looking to unearth stocks that are poised to move.