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Aimco Pesticides Ltd.

BSE: 524288 Sector: Agri and agri inputs
BSE 15:40 | 16 Mar 174.00 -1.75






NSE 05:30 | 01 Jan Aimco Pesticides Ltd
OPEN 177.00
52-Week high 271.00
52-Week low 76.00
P/E 16.11
Mkt Cap.(Rs cr) 167
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 177.00
CLOSE 175.75
52-Week high 271.00
52-Week low 76.00
P/E 16.11
Mkt Cap.(Rs cr) 167
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Aimco Pesticides Ltd. (AIMCOPEST) - Director Report

Company director report


The Members


The Directors have pleasure in presenting the 30th (Thirtieth) Annual Reportand the Audited Financial Statement of Aimco Pesticides Limited and its subsidiary for theyear ended March 31 2017


The financial highlights of the Company are given below:

(Rs. in Lacs)
Particulars 2016 – 17 2015-16
Total Income 10118.41 9722.51
Total Expenditure (excluding Depreciation) 8877.01 9245.19
Profit for the year before providing for Depreciation 1241.4 477.32
Less: Depreciation 60.12 51.90
Profit before Tax 1181.28 425.43
Less: Provision for Taxation
Current Year (231.17) (90.50)
MAT Credit Entitlement 200.92 90.32
Deferred Tax (3.09) 37.85
Profit After Tax 1147.94 463.10



The Company operates in the field of manufacturing of Agrochemical and is a majorplayer in insecticides fungicides and herbicides in India & across the world. Aimcois the leader in Chlorpyrifos Triclopyr & its formulations. There was no change innature of business activity.


During the year under review gross revenues have increased to Rs. 10118.41 Lacsagainst Rs. 9722.51

Lacs in immediate past year. The Company was subjected to tax liability of Rs. 231.17Lacs and profit after tax stood at Rs. 1147.94 Lacs against Rs. 463.10 Lacs during lastyear.

Your company continues with its task to rebuild business with long term goals based onits intrinsic strength brand and quality of service customer relationships andstreamlining operations.


Your company will continue to add new molecules to its portfolio to further consolidateits position in the industry in future. To consolidate its market position your companyshall continue to upgrade its manufacturing technology and facilities as well as add newmolecules to its product portfolio. Your

Company has highly qualified and dedicated team of professionals in various workprofile to focus on quality improvement in existing products marketing the products toprevailing customers and exploring new domestic and overseas customers for the Company.Your company enjoys excellent brand value from its local and overseas customers. The "Makein India" initiative of Government of India is expected to be a great boost toIndian Agrochemical manufacturing.

The process of transformation of pending matters before BIFR has yet not fullycompleted and accordingly your company waiting for necessary orders. As on date matter issubjudice and hence we shall not make any comments on the status of pending matters.


To conserve the available resources for smooth recovery of business operations of theCompany the

Board of Directors does not recommend any dividend on equity shares for the financialyear 2016-17.


In accordance with the requirements of the Companies Act 2013 and Articles ofAssociation of the Company Mr. Pradeep Dave (DIN:0000184598) Executive Director [WholeTime Director] of the Company is due to retire by rotation and being eligible offeredhimself for re-appointment pursuant to provision of Section 152 of the Act.

The Company has received declarations u/s 149(7) of the companies Act 2013 (the Act)from all the Independent Directors of the Company confirming that they meet the criteriaof Independence as prescribed both under the Act read with SEBI (Listing Obligation &Disclosure Requirements) Regulations 2015 with Stock Exchange. The Company has alsoreceived Disclosure of Interest by Directors as per the provisions of Section 184 ofCompanies Act 2013.

The Company believes that the Board be continuously empowered with the latest knowledgeand development in the Company's business and the external forces affecting the industryin which Company operates. The details of process for familiarization to IndependentDirectors with the Company their roles rights responsibilities in the Company natureof the industry in which the Company operates business model of the Company and relatedmatters are put upon the website of the Company at the link:

Further brief resume of the directors proposed to be appointed/re-appointed relevantinformation nature of their expertise in specific functional areas names of thecompanies in which they hold directorships and the memberships/chairmanships of Committeesof the Board and their shareholding in the Company as stipulated under SecuritiesExchange Board of India (Listing obligations & Disclosure Requirements) Regulations2015 have been furnished separately in the Notice convening the 30th AnnualGeneral Meeting read with the Annexure thereto forming part of this Report.

Details of the number of meetings of the Board of Directors have been furnished in theReport on Corporate Governance.


The Board has on the recommendation of the Nomination and Remuneration Committeeframed and adopted the policy for selection and appointment of Directors seniormanagement and their remuneration. The policy lays down criteria for selection ofdirectors and senior management such as expertise experience and integrity of thedirectors independent nature of the directors personal and professional standingdiversity of the Board etc. The remuneration policy lays down the entitlements ofremuneration to non-executive directors such as sitting fees commission and otherreimbursement. Remuneration to Managing Director and other Executive Directors will beconsisting of monthly salary allowances perquisites bonus commission and otherretirement benefits. In respect of senior management the remuneration will be based onthe performance working of the Company targets achieved industry benchmark and currentcompensation trends in the industry. The details of Nomination and Remuneration Committeemeetings are stated in the Corporate Governance Report.

The following policies of the Company are attached here with marked as Annexure-1:

a) Policy for selection of Directors & senior Management and determining Directorsindependence; and

b) Remuneration Policy for Directors Key Managerial Personnel and other employees.

7. Material changes and commitments if any affecting the financial position ofhave occurred between the end of the financial year of the Company to which the financialstatements relate and the date of the report

There was no material change during the reporting period.

8. Details in respect of adequacy of internal financial controls with reference tothe Financial


The Company has devised appropriate systems and framework for adequate internalfinancial controls with reference to financial statements commensurate with the sizescale and complexity of its operations including proper delegation of authority policiesand procedures effective IT systems aligned to business requirements risk based internalaudit framework risk management framework and whistle blower mechanism.

The Audit Committee regularly reviews the internal control system to ensure that itremains effective and aligned with the business requirements. In case weaknesses areidentifiedas a result of the reviews new procedures are put in place to strengthencontrols.

The Company has implemented various policies such as code of conduct whistle-blowerpolicy Related Party Transaction Risk Management Policy Corporate social responsibilitypolicy etc. and relevant policies have been placed on the website of the Company.

9. Auditors and Audit Reports: A) Statutory Auditors:

M/s C N K & Associates LLP Chartered Accountants Mumbai were appointed as theStatutory Auditors of the Company to hold the office from April 01 2016 till March 312017. M/s. J. Dwarkadas & Co. proposed to be appointed as Statutory Auditors of theCompany in place of M/s C N K & Associates LLP Chartered Accountants to hold officefrom the conclusion of this Annual General Meeting (30th AGM) of the Companytill the conclusion of Annual General Meeting to be held in 2022 on such remuneration asmay be agreed upon by the Board of Directors and the Auditors in addition to service taxand re-imbursement of out of pocket expenses incurred by them in connection with the auditof Accounts of the Company.

As referred here in before the Board has after considering the recommendations of itsAudit Committee incorporated a suitable resolution for your consideration towards theirappointment and approval in the notice calling ensuing Annual General Meeting of theCompany.

The observations of the Auditors and the Management reply for the same are as under:

B) Internal Auditor:

The Company has appointed M/s. Abhay Bhagat & Co. Chartered Accountant Mumbai asan Internal

Auditor of the Company for three financial years starting from FY 2015-16 to 2017-18to look after all the internal Audit matters and report to Audit Committee and StatutoryAuditor on the relevant matters from time to time.

C) Cost Auditors:

M/s. N. Ritesh & Associates Cost Accountants Mumbai having Firm Registration No:R100675 have been appointed as the Cost Auditors of the Company to carry out Cost Audit ofthe Company in respect of FY 2016-17. Further Cost Audit Report for the financial year2015- 16 has been filed with Ministry of Corporate Affairs on 04/10/2016. The Cost AuditReport in respect of financial year 2016- 17 will be filed with Ministry of Corporate

D) Secretarial Auditors:

Pursuant to the provisions of Section 204 of the Companies Act 2013 and the Companies(Appointment and Remuneration of Managerial Personnel) Rules 2014 the Board hadappointed M/s. Rahul Padmakar Sahasrabuddhe & Associates Practicing CompanySecretary to undertake the Secretarial Audit of the Company for the financial year2016-17 and issue Secretarial Audit

Report. Secretarial Audit Report issued by M/s. Rahul Padmakar Sahasrabuddhe &Associates for the financial year 2016-17 in Form MR-3 forms part of this report andmarked asAnnexure- 2

The observations of the Auditors and the Management reply for the same are as under:

Auditors' Observation Management Reply
As per SEBI Circular no Cir/ ISD/ 3/2011 dated June 17 2011 100% of promoters and promoter group's shareholding should be dematerialized. Barring 3.40% of promoters and promoter group's holding held in physical form due to pending inter promoter transfer remaining holding is in demat form. The observations comments made in the Secretarial Auditor Report read together with relevant notes thereon are self explanatory.
Your promoters have been advised by the board and they are in process of dematerialization of entire equity share held by them. Except one of promoter joint holding is yet in physical form due to pending inter promoter transfer entire promoter shareholdings are in demat.

10. Extract of the Annual Return:

In accordance with Section 134(3)(a) of the Companies Act 2013 read with Rule12(1) ofthe Companies (Management and Administration) Rules 2014 an extract of the Annual Returnin Form MGT-9 is annexed to the Directors' Report and marked as Annexure - 3

11. Conservation of energy technology absorption and foreign exchange earnings andoutgo:

The information as per Section 134(3) (m) of the Companies Act 2013 read with theCompanies (Account) Rules 2014 with respect to conservation of energy technologyabsorption & foreign exchange earnings and outgo are given in Annexure- 4 formingpart of this report.

12. Details of Committees of the Board:

At present the Board has Three (3) Committees: the Audit Committee Nomination andRemuneration Committee and Stakeholders' Relationship Committee. The Composition ofvarious committees and compliances are as per the applicable provisions of the CompaniesAct 2013 along with the Rules and Securities Exchange Board of India (Listing obligation& Disclosure Requirements) Regulations 2015. The brief details of various Committeesare provided separately in the Corporate Governance report.

13. Audit Committee Composition:

The Board has an Audit Committee in conformity with the provisions of Section 177 ofthe Companies Act 2013 and as per Regulation 18 of Securities Exchange Board of India(Listing obligations & Disclosure Requirements) Regulations 2015 which comprisingThree Directors. Ms. Rita Ramesh Panchal

Company Secretary and Compliance officer of the Company acted as Secretary of theCommittee during the financial year 2016-2017. The composition of the Audit Committee isas follows:

Name Designation Non-Executive/Independent
Mr. Ramgopal Kaja (DIN: 00140047) Chairman Non-Executive Independent
Mr. Dushyant Patel (DIN: 00009714) Member Non-Executive Independent
Mr. Bansilal Bhawsar (DIN: 00107014) Member Non-Executive Independent

literate and have accounting or related financialAllthemembersoftheAuditcommitteearefinancially management expertise as required under theCompanies Act 2013 and Regulation 18 of Securities Exchange Board of India (Listingobligations & Disclosure Requirements) Regulations 2015.

The scope and terms of reference of the Audit Committee have been amended in accordancewith the Act and the Listing Agreement entered into with the Stock Exchanges as perSecurities Exchange Board of India (Listing obligations & Disclosure Requirements)Regulations 2015.

During the year under review the Board of Directors of the Company had accepted allthe re-commendations of the Committee.

14. Nomination and Remuneration Committee:

The Board has Nomination and Remuneration Committee in conformity with the provisionsof Section 178 of the Companies Act 2013. The composition of the Nomination andRemuneration Committee is as follows:

Name Designation Non-Executive/Independent
Mr. Ramgopal Kaja (DIN: 00140047) Chairman Non-Executive Independent
Mr. Dushyant Patel (DIN: 00009714) Member Non-Executive Independent
Mr. Bansilal Bhawsar (DIN: 00107014) Member Non-Executive Independent

Your Company has devised the Nomination Policy for the appointment of Directors and KeyManagerial Personnel (KMP) of the Company who have ability to lead the Company towardsachieving sustainable development. The Company has also framed Policy relating to theremuneration of Directors Key Managerial Personnel and other Employees.

The Company has constituted CSR committee of directors based on applicability andinterpretation of provisions of the Section 135 of the Act. The Company has unspent amountof Rs. 8 00760/- which has been carried forward and would be spend in current period.

15. Disclosure under the Sexual Harassment of Women at work place (PreventionProhibition and Redressal) Act 2013:

The Company has in place an Anti-Sexual Harassment Policy in line with the requirementsof the Sexual Harassment of Women at Workplace (Prevention Prohibition and Redressal)Act 2013. An Internal Complaints Committee (ICC) has been set up to redress complaintsreceived regarding sexual harassment. All employees (permanent contractual temporarytrainees) are covered under this Policy. The Policy is gender neutral.

No complaints pertaining to sexual harassment were received during the Financial Year2016-17.

16. Details of establishment of vigil mechanism for directors and employees:

The Vigil Mechanism of the Company which incorporates a whistle blower policy in termsof the Regulation 22 of Securities Exchange Board of India (Listing obligations &Disclosure Requirements) Regulations 2015 is to provide platform to Directors andEmployees to report their concerns. Your company has established transparent system tosafeguard any person using this mechanism from victimization and in appropriate/exceptional cases there is direct access to approach Mr. Ramgopal Kaja (DIN:00140047)Chairman of the Audit Committee.

Protected disclosures can be made by a whistle blower through hand-mail or dedicatedtelephone line or a letter to the Chairman of the Audit Committee. The Policy on vigilmechanism and whistle blower policy may be accessed on the Company's website at the

17. Number of meetings of the Board of Directors:

The Board of Directors met six (6) times during the financial year. The intervening gapbetween any two meetings was not more than 120 days as prescribed by the Companies Act2013. Details of date of Board meetings are provided separately in Corporate Governancereport.

18. Particulars Of Loans Guarantees Or Investments Under Section 186:

Particulars of loans given and investments made as covered under Section 186 of theCompanies Act 2013 if any are provided in the standalone financial Statement (Refer NoteNo. 31) forming part of the Annual Report.

19. Particulars of contracts or arrangements with related parties:

The Company during the year has entered into transactions as specified under section188 (1) of the

Companies Act 2014 with related parties. Accordingly the disclosure of Related PartyTransactions to be provided under section 134 (3) (h) of the Companies Act 2013 in FormAOC-2 forming part of Board Report as per Annexure – 5. The policy on RelatedParty Transactions as approved by the Board is uploaded on the Company's website and canbe accessed at the Weblink:

Your Directors draw your attention to Note No: 28 to the financial statements which setout related party disclosures.

All related party transactions that were entered into during the financial year were onarm's length basis and were in the ordinarycourseofthebusiness.Therearenomateriallysignificantrelated party transactions made by thecompany with Promoters Key Managerial Personnel or other designated persons which mayhave potential conflict with interest of the company at large.

All Related Party Transactions are approved by the Audit Committee. Prior omnibusapproval is obtained from the Audit Committee in respect of the transactions which arerepetitive in nature. The transactions entered into pursuant to the omnibus approval sogranted are reviewed on a quarterly basis by the audit committee.

20. Directors' Responsibility Statement:

As stipulated under section 134 (3) (c) read with Section 134 (5) of the Companies Act2013 your

Directors here by state and confirms that:

a) In preparation of the annual accounts for the financial year ended March 31 2017the applicable accounting standards had been followed and there are no material departuresfrom the same;

b) The Directors had selected such accounting policies and applied them consistentlyand made judgments and estimates that are reasonable and prudent so as to give a true andfair view of the state of affairs of the Company as at March 31 2017 and of the profitand loss of the Company for the year ended on that date;

c) The Directors had taken proper and sufficient care for the maintenance of adequateaccounting records in accordance with the provisions of the Companies Act 2013 forsafeguarding the assets of the Company and for preventing and detecting fraud and otherirregularities;

d) The Directors had prepared the annual accounts on a going concern basis;

e) The Directors have laid down internal financial control to be followed by theCompany and that such adequate and are operating effectively during the financial yearended internal March 312017; and

f) The Directors had devised proper systems to ensure compliance with the provisions ofall applicable laws and that such systems were adequate and operating effectively duringthe financial year ended March 31 2017.

21. Managerial Remuneration:

Disclosures pertaining to remuneration and other details as required under Section197(12) of the Act read with Rule 5(1) of the Companies (Appointment and Remuneration ofManagerial Personnel) Rules 2014 are provided in the Annexure-6 to this Report.

22. Corporate Governance:

The Company has successfully implemented and complied with all the requirements anddisclosures of the Code of Corporate Governance as required under Listing Agreement (asamended) entered into with the Stock Exchanges as per Securities Exchange Board of India(Listing obligations & Disclosure Requirements) Regulations 2015. A report onCorporate Governance as stated above is attached separately in the annual report.

23. Risk Management:

The Company's robust Risk Management Framework (RMF) identifies and evaluates all therisks that the organization faces such as strategic Financial credit market liquiditysecurity property IT legal regulatory reputational and other risks. The Companyrecognizes that these risks need to be managed and mitigated to protect its shareholdersand other stakeholders to achieve its business objectives and enable sustainable growth.

The risk frame work is aimed at effectively mitigating the Company's various businessand operational risks through strategic actions. Risk management is integral part of ourcritical business activities functions and processes. The risks are reviewed for thechange in the nature and extent of the major risks identified since the last assessment.It also provides control measures for risks and future action plans.

The Audit Committee oversees Enterprise Risk Management Frame work to ensure executionof decided strategies with focus on action and monitoring risks arising out of unintendedconsequences of decisions or actions and related to performance operations complianceincidents processes systems and transactions are managed appropriately.

The Company believes that the overall risk exposure of present and future risks remainswithin risk capacity. RMF is prepared to ensure robust internal controls and effectivelyrespond to any changes in the business environment so as to achieve high degree ofbusiness performance limit any negative impact on its working and avail of benefitsarising out of any business opportunities. Key business risks perceived by the Company andmitigating initiatives are as under:

i) Industry Risk: Agrochemicals industry is prone to risks arising out ofindifferent weather conditions such as excess rains scanty rainsunseasonalrainsetc.Thiscanleadtodemandfluctuationand industry downturn. To mitigate theserisks the Company has expanded its global reach to almost all countries in the world.With increase in demand for food due to increase in population use of agrochemicals willkeep on rising. The Company has a large portfolio of agrochemicals with diverseapplications. The Company has an efficient supply chain so product movement is very swift

ii) Key inputs risk: Non-availability of key inputs and raw materials can adverselyaffect the production planning and subsequent sales. To mitigate these risks the Companyhas its own manufacturing facilities for some key raw materials. Multiple vendor databasesare created to ensure smooth supply of various raw materials. The Company enters into longterm contracts with suppliers for some key inputs which ensure timely supply and pricestability.

Pursuant to section134 (3)(n) of the Companies Act 2013 & Regulation 21 ofSecurities Exchange Board of India (Listing obligations & Disclosure Requirements)Regulations 2015 the company has constituted a business risk management committee. Thedetails of the committee and its terms of reference are set out in the corporategovernance report forming part of the Board report.

At present the company has not identified any element of risk which may threaten theexistence of the company.

24. Formal Annual Evaluation made by board of its own performance and of itscommittee and of Individual Directors:

Pursuant to the provisions of Section 178 of the Companies Act 2013 and as perRegulation 17 of Securities Exchange Board of India (Listing obligations & DisclosureRequirements) Regulations 2015 the Board has carried out annual performance evaluationof its own performance the directors individually as well as evaluation of working ofcommittees of Board of Directors.

Executive Directors were evaluated on the basis of targets / criteria given to them bythe board from time to time as well as per their terms of appointment. IndependentDirectors being evaluated by entire board except of Director being evaluated on meetingtheir obligations connected with their independence criteria as well as adherence with therequirements of professional conduct roles functions and duties specifically applicableto Independent Directors as contained in Schedule IV of the Companies Act 2013.

Chairman and other Non-Independent Directors were being evaluated by IndependentDirectors who also reviewed the performance of secretarial department. Performanceevaluation of the Committees and that of its members in effectively discharging theirduties were also being carried out by board.

The Company has devised a Policy for performance evaluation of Independent DirectorsBoard Committees and other individual Directors which include criteria for performancevaluation of the non-executive directors and executive directors. The said Policy is putupon the website of the Company at the link: .

The overall performance of Chairman Executive Directors and Non-Executive Directors ofthe Company is satisfactory. The review of performance was based on criteria ofperformance knowledge analysis quality of decision making etc.

25. Declaration given by Independent Directors:

The Company has received necessary declarations from all the Independent Directorsconfirmingthat they meet the criteria of Independence as prescribed under the Section 149(6) of the Companies Act 2013 and Securities Exchange Board of India (Listing obligations& Disclosure Requirements) Regulations 2015 entered with the stock exchanges.

26. Industrial Relations:

During the year under review your Company enjoyed amiable relationship with workersand employees at all levels.

The Company truly believes that People are their biggest assets. With the rate ofgrowth of the organization the concentration was on making the Company brand morecontemporary explaining what "Doing things better" means to each of thestakeholders and focusing on the Core Values of the Company.

With a mission to be among the top 5 agrochemical companies in the world such valuesthat would echo a collective mindset and voice to reach this common objectives are framed.HR processes like Talent acquisition Performance Management and Leadership Developmentare strengthened further keeping the Values in Focus. By providing an inspiringenvironment to learn and grow promoting teamwork and mutual working focusing oncompetency development and career growth and respecting people and showing concern forthem.

The Company has an enviable history of talent retention. The attrition rate has beenvery low and it has been able to manage people aspirations and career growth aligned tothe business needs and growth. There has been great success with the Supply chainexcellence program and a number of people in the Supply Chain team were rewarded for theircontribution in making the program a success.

27. Subsidiary Companies:

As on March 31 2017 your Company has only one Subsidiary Company viz. Aimco EcoscienceLimited. During the year under review your Company did not have any new Subsidiary neitherdid it have an Associate Company nor did it enter into a Joint Venture with any otherCompany.

Pursuant to sub-section (3) of section 129 of the Act the statement containing thesalient feature of the financial statement of a company's subsidiary or subsidiariesassociate company or companies and joint venture or ventures is given as "Annexure-7"[Performance and financial position of each of the subsidiaries associates and jointventure companies included in the consolidated financial

Further the Annual Accounts and related documents of the subsidiary company shall bekept open for inspection at the registered office of the Company. The Company will alsomake available copy thereof upon specific request by any Member of the Company interestedin obtaining the same. Further pursuant to Accounting Standard AS-21 issued by theInstitute of Chartered Accountants of India Consolidated

Financial Statements presented by the Company in this Annual Report include thefinancial information of its subsidiary.

28. Code Of Conduct:

The Board of Directors has approved a Code of Conduct which is applicable to theMembers of the Board and all employees in the course of day to day business operations ofthe company. The Company believes in "Zero Tolerance" against briberycorruption and unethical dealings/ behaviors of any form and the Board has laid down thedirectives to counter such acts. The code laid down by the Board is known as "code ofbusiness conduct" which forms an Appendix to the Code. The Code has been posted onthe Company's website.

The Code lays down the standard procedure of business conduct which is expected to befollowed by the Directors and the designated employees in their business dealings and inparticular on matters relating to integrity in the workplace in business practices and indealing with stakeholders. The Code gives guidance through examples on the expectedbehavior from an employee in a given situation and the reporting structure.

All the Board Members and the Senior Management personnel have confirmed compliancewith the Code. All Management Staff were given appropriate training in this regard.

29. Prevention of Insider trading:

The Company has adopted a Code of Conduct for Prevention of Insider Trading with a viewto regulate trading insecurities by the Directors and designated employees of the Company.The Code requires pre-clearance for dealing in the Company's shares and prohibitsthe purchase or sale of Company shares by the Directors and the designated employees whilein possession of unpublished price sensitive information in relation to the Company andduring the period when the Trading Window is closed. The Board is responsible forimplementation of the Code. All Board of Directors and the designated employees haveconfirmed compliance with the Code. The Compliance officer is entrusted withresponsibility of overseeing the compliances prescribed in connection with prevention ofInsider Trading.

30. Details of top ten employees in terms of remuneration : -

As per Rule 5(2) of Companies (Appointment and Remuneration of Managerial Personnel)Rules 2014 the company is required to disclose the details of top ten employees in termsof remuneration drawn by them in the Financial Year 2016-17 which are given as under:

Sr. No. Employee Name Designation Remuneration Per Annum Nature of employment (whether contractual or otherwise) Qualification and Experience Date of commence- ment of employ- ment Last employment held by employee before joining the company Percentage of Equity shares held Age
1 Mrs. Elizabeth Shrivastava Managing Director 3000000 Contractual M.Sc. (Biochemistry) from University of Mumbai 12.08.1987 - 0.17 64 Years
2 Mr. J N Shah General Manager 2538000 Non Contractual B.Sc. 26.09.1978 - - 60 Years
3 Mr. Hiren Shah Purchase Manager 2451600 Non Contractual Diploma in Chemical Engineering 07.10.1996 - - 39 Years
4 Mr. Pradeep P. Dave Director 3000000 Contractual B. Sc. (Chemistry) from University of Mumbai 12.08.1987 - 9.77 74 Years
5 Mr. Ashit P. Dave Director 2934000 Contractual B.Com MEP -IIM Ahmedabad 20.08.1996 - 2.84 46 Years
6 Dr. Samir P. Dave Director 2934000 Contractual Ph.D in Organic Chemistry (Dept. of University of Mumbai) 30.05.1995 - 5.98 50 Years
7 Ms. Priya Surati Accounts Manager 1343256 Non Contractual B.Com 27.01.2004 - - 37 Years
8 Mr. G. S. Chaugule Quality Controller 1094256 Non Contractual B.Sc 01.01.1997 - - 46 Years
9 Ms. Sheeba Manoj Export Assistant 1025256 Non Contractual B.Sc 01.02.2009 - - 49 Years
10 Mr. Pravin Pawar Registration Assistant 906420 Non Contractual B.Sc PG Diploma in Agriculture Business Management 22.02.2010 - - 33 Years

31. Listing With Stock Exchanges:

The Company confirms that it has paid the Annual Listing Fees for the year 2016-2017 toBSE Limited where the Company's Shares are listed.

32. Other Disclosures/Reporting:

Your Directors state that no disclosure or reporting is required in respect of thefollowing items as there were no transactions on these items during the year under review:

a) Details relating to deposits covered under Chapter V of the Act.

b) Issue of equity shares with differential rights as to dividend voting or otherwise.

c) Issue of shares (including sweat equity shares) to employees of the Company underany scheme.

d) Joint Venture and/or Associate Company.

e) Details of payment of remuneration or commission to Managing Director or JointManaging Director of the Company from any of its subsidiaries Joint Venture/AssociateCompany.

f) Voting rights which are directly exercised by the employees in respect of shares forthe subscription/ purchase of which loan was given by the Company (as there is no schemepursuant to which such persons can beneficially holds shares as envisaged under section 67(3) (c) of the Companies Act 2013).

g) Any significant by the Regulators or Courts or Tribunals which impact the goingconcern status and Company's operations in future.

33. Acknowledgements:

Your Directors express their deep gratitude for the co-operation and support extendedto the Company by its Members customers suppliers bankers and various governmentagencies. Your Directors also place on record the commitment and involvement of theemployees at all levels and looks forward to their continued co-operation.

For and on behalf of the Board of
Aimco Pesticides Limited
Elizabeth Shrivastava Ashit Dave
Managing Director Executive Director
(DIN: 00184865) (DIN: 00184760)
Date: August 23 2017
Place: Mumbai