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Ajanta Soya Ltd.

BSE: 519216 Sector: Others
NSE: N.A. ISIN Code: INE601B01015
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OPEN 70.00
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VOLUME 17181
52-Week high 92.65
52-Week low 30.00
P/E 14.53
Mkt Cap.(Rs cr) 107
Buy Price 0.00
Buy Qty 0.00
Sell Price 66.00
Sell Qty 59.00
OPEN 70.00
CLOSE 67.40
VOLUME 17181
52-Week high 92.65
52-Week low 30.00
P/E 14.53
Mkt Cap.(Rs cr) 107
Buy Price 0.00
Buy Qty 0.00
Sell Price 66.00
Sell Qty 59.00

Ajanta Soya Ltd. (AJANTASOYA) - Director Report

Company director report

TO THE MEMBERS OF AJANTA SOYA LIMITED

The Directors hereby present their 26th Annual Report on the business and operations ofthe Company and the financial accounts for the year ended 31st March 2017.

Financial Highlights

(Amount in Lacs)

Particulars Current Year Previous Year
Revenue from operations 70007.21 57911.83
Other Income 717.78 337.45
Profit/(Loss) before Tax 1058.18 707.90
Provision for Tax 384.96 198.92
Profit/(Loss) after Tax 673.21 508.98
Transfer to Reserve Nil Nil
Reserves and surpluses 2301.73 1628.52
Earning per share 4.34 3.28

Company Performance

During the year under review total income of the Company was Rs. 70724.99 Lakhs asagainst Rs. 58249.27 Lakhs in the previous year. The Company was able to earn profit aftertax for the year of Rs. 673.21 Lakhs against a profit after tax of Rs. 508.98 Lakhs in theprevious year. Your Directors are putting in their best efforts to improve the performanceof the Company.

Statement of Company's Affair

The Company is engaged in the business of manufacturing of Vanaspati and Refined Oilwith shortening products (bakery & biscuit). During the year company has produced98147.459 MT of Vanaspati/Refined Oil as against 106271.921

MT in the previous year.

The most popular brands of Vanaspati/refined oil and bakery shortening are"Dhruv" "Anchal" and "Parv" all are which enjoy aconsiderable market share.

Detailed information on the operations of the Company and details on the state ofaffairs of the Company are covered in the Management Discussion and Analysis Reportattached to this report.

Change in nature of Business of the Company

There has been no change in the nature of business of the Company.

Material Changes etc.

Save as mentioned elsewhere in this Report material changes and commitments affectingthe financial position of the Company have occurred between theendofthefinancialyear ofthe Company-31 st March 2017 and the date of this Report is as below:-That there was afire occurred at the factory premises of the Company at SP-916 Phase -III IndustrialArea Bhiwadi Rajasthan 301019 on May 14 2017. The fire was controlled within the time andthe adequate steps were taken. Fortunately there was no loss or injury to human life.However the fire incident was severely damaged the plant and machinery which affects themanufacturing process badly. The Company had initiated steps towards re-functioning of theBhiwadi Rajasthan 301 019 plant at the earliest. Presently the products of the Companyare manufactured by third party by way of job work. The Company had already initiated thenecessary steps for recommence its manufacturing process and it is expecting that the samewill be recommenced by October 2017.

Dividend

The Board of Directors of your Company has decided to retain and plough back theprofits into the business of the Company thus no dividend is being recommended for thisyear.

Share Capital

The paid up Equity Share Capital as on 31st March 2017 was Rs. 15.50 crores. Duringthe year under review the

Company has not issued any shares. The Company has not issued shares with differentialvoting rights. It has neither issued employee stock options nor sweat equity shares anddoes not have any scheme to fund its employees to purchase the shares of the Company.

Particulars of Loans Guarantees or Investments under Section 186 of the Companies Act2013

Pursuant to Section 134(3)(g) of the Companies Act 2013 details of Loans Guaranteesand Investments covered under the provisions of Section 186 of the Companies Act 2013 areas under below.

Detail of Investment as on 31st March 2017

Name of Company Amount (INR)
- DG Estates Pvt Ltd 14725000
- Dhruv Globals Limited 3680500
- Ajanta Realtech Pvt Ltd 13110000
Investments in Mutual Funds
- LIC of India - Profit Plus Growth Fund 1357000
Investments in Mutual Funds
SBI Mag Insta Cash Fund Liquid Floater- Regular Growth 70836489
Investments in Mutual Funds 75000000
SBI Premium Liquid Fund - Regular Plan
Investments in Mutual Funds 36268473
SBI Mag Insta Cash Fund Liquid Floater- Regular Plan
Detail of Guarantee as on 31st March 2017
Name of Company Amount (INR)
Guarantee issued in favour of bank on behalf of Dhruv Globals Limited. 675000000

During the financial year ended 31st March 2017 no Loan u/s 186 of the Companies Act2013 was made by the Company.

Disclosure on Deposit under Chapter V

The Company has neither accepted nor renewed any deposits during the Financial Year2016-17 in terms of Chapter V of the Companies Act 2013.

Report on Subsidiaries Associates and Joint Venture companies

The Company has no subsidiaries associates and joint ventures companies.

Conservation of Energy Technology Absorption Foreign Exchange Earnings and Outgo

Pursuant to provisions of Section 134 of the Companies Act 2013 read with Rule 8(3) ofthe Companies (Accounts) Rules 2014 the details of Conservation of Energy TechnologyAbsorption Foreign Exchange Earnings and Outgo are attached as ‘Annexure 1'whichforms part of this report.

Listing

At present the equity shares of the Company are listed at Bombay Stock Exchange Ltd.(BSE). The annual listing fees for the financial year 2017-18 to BSE has been paid.

Corporate Governance

Corporate Governance is all about ethical conduct openness integrity andaccountability of an enterprise. Good Corporate Governance involves a commitment of theCompany to run the business in a legal ethical and transparent manner and runs from thetop and permeates throughout the organization. It involves a set of relationships betweena company's management its Board shareholders and Stakeholders. It is a key element inimproving the economic efficiency of the enterprise. Credibility offered by CorporateGovernance helps in improving the confidence of the investors both domestic and foreignand establishing productive and lasting business relationship with all stakeholders.

At ASL Corporate Governance is more a way of business life than a mere legalobligation. Strong governance practices of the Company have been rewarded in terms ofimproved share valuations stakeholder`s confidence improved market capitalizationcredit ratings etc. compliance of the conditions of Corporate Governance as stipulatedAcertificate under Schedule V of the Listing Regulations is attached in the CorporateGovernance Report and forms part of this report.

Certificate inter-alia confirming the correctness of the financialstatementscompliance with Company`s

Code of Conduct adequacy of the internal control measures and reporting of matters tothe auditors and the Audit committee in terms of Regulation 17 of the Listing Regulationsis attached in the Corporate Governance report and forms part of this report.

Credit Rating

During the year CRISIL has assigned the Bank Loan External Ratings of the Company asmentioned below:

Total Bank Loan Facilities Rated Rs. 120 Crore
Long-Term Rating CRISIL BBB-/Stable (Reaffirmed)
Short-Term Rating CRISIL A3 (Reaffirmed)

Board of Directors a. Retirement by Rotation:

In Pursuant to Sections 149 152 and other applicable provisions if any of theCompanies Act 2013 one-third of such of the Directors as are liable to retire byrotation shall retire every year and if eligible offer themselves for reappointment atevery AGM. Consequently Mr Sushil Goyal Managing Director will retire by rotation at theensuing AGM and being eligible offer himself for re-appointment in accordance with theprovisions of the Companies Act2013.

b. Re-appointment of Managing Director:

The term of appointment of Mr Sushil Goyal as Managing Director expired on 25th July2017. Further on the recommendation of Nomination & Remuneration Committee the Boardof Directors of the Company had in its meeting held on July 25 2017 re-appointed MrSushil Goyal (DIN: 00125275) as a Managing Director for a period of 3 years with effectfrom July 26 2017 subject to the approval of shareholders in their general meeting. Theterms and conditions for his re-appointment are contained in the explanatory statementforming part of the notice of the ensuing Annual General Meeting.

The brief resumes of the Directors who are to be appointed/ re-appointed in the ensuingAnnual General Meeting the nature of their expertise in specific functional areas namesof companies in which they have held directorships committee memberships/chairmanshipsand their shareholding etc. are furnished in Corporate Governance Report forming part ofthe Annual Report. c. Declaration by Independent Directors

Pursuant to provisions of Section 134(3)(d) of the Companies Act 2013 with respect tostatement on declaration given by Independent Directors under Section 149(6) of the Actthe Board hereby confirms that all the Independent Directors of the Company have given adeclaration and have confirmed that they meet the criteria of independence as provided inthe said Section 149(6).

Key Managerial Personnel

The Key Managerial Personnel (KMP) in the Company as per Section 2(51) and 203 of theCompanies Act 2013 are as follows:

Name Designation
Mr Sushil Goyal Managing Director
Mr Abhey Goyal Whole Time Director
Mr Jai Gopal Sharma Chief Financial Officer
Mr Kapil Company Secretary

Policy on Directors appointment and Policy on remuneration

Pursuant to the requirement under Section 134(3)(e) and Section 178(3) of the CompaniesAct 2013 the policy on appointment of Board members including criteria for determiningqualifications positive attributes independence of a Director and the policy onremuneration of Directors KMP and other employees is attached as ‘Annexure 2'respectivelywhich forms part of this report.

Particulars of remuneration of Directors/ KMP/Employees

There are no employees who are in receipt of remuneration in excess of the limitsprescribed under Rule 5(2) of the Companies (Appointment and Remuneration of ManagerialPersonnel) Rules 2014.

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 given below:

(i) The Ratio of the remuneration of each Director to the median remuneration of theemployees of the Company for the financial year.

Name of the Director Total Ratio to the
Remuneration Median
Mr Sushil Goyal (Managing Rs. 3000000 17
Director)
Mr Abhey Goyal (Whole time Director) Rs. 1200000 7

(ii) The percentage increase in remuneration of each DirectorChiefFinancialOfficerChief Executive Officer Company Secretary in the financial year.

Name % of Increase
Mr Sushil Goyal (Managing Director) Nil
Mr Abhey Goyal (Whole Time Nil
Director)
Mr Jai Gopal Sharma (CFO) 10
Mr Kapil (Company Secretary) 10

 

(iii) The percentage increase in the median remuneration of employees in the financial year. The percentage increase in the Median Remuneration during the financial year is 11.61% This has been arrived at by comparing the median remuneration of the cost to the company as on 31st March 2016 and the median remuneration of the cost to the Company as on 31st March 2017
(iv) The number of permanent employees on the rolls of the company. (v) Average percentile increase already made in the salaries of employees other than the managerial personnel in the last financial year and its comparison with the percentile increase in the managerial remuneration and justification thereof and point out if there are any exceptional circumstances for increase in the managerial remuneration. The total number of permanent employee of Ajanta Soya Limited as on 31st March 2017 was 103 (One Hundred Three). The average % increase in salary was 10% for all employees other than the managerial personnel who went through the compensation review cycle in the year. The compensation decisions for each year are taken after considering some parameters such as comparison of salaries at various levels with benchmark data and the approved compensation budget as per the financial plan for the financial year.
Average percentage increase made in the salaries of employees other than the managerial personnel in the last financial year i.e. 2016-17 was 10% whereas there was no increase in the managerial remuneration.
(Vi) It is hereby affirmed that the remuneration is as per the Remuneration Policy of the Company. Pursuant to Rule 5(1)(xii) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014 it is affirmed that the remuneration paid to the Directors Key Managerial Personnel and senior Management is as per the Remuneration Policy of the Company.

Further Details as required under the provisions of section 197(12) of the CompaniesAct 2013 read with rule 5(2) and 5(3) of the Companies (Appointment and Remuneration ofManagerial Personnel) Rules 2014 as amended is attached as ‘Annexure 3' tothis Report.

Number of Meetings of the Board

During the Financial Year 2016-17 7 (Seven) number of Board meetings were held. Fordetails there of kindly refer to the section Board of Directors in the CorporateGovernance Report.

Performance Evaluation of the Board its Committees and Individual Directors

Pursuant to applicable provisions of the Companies Act 2013 and the Listing Agreementwith Stock Exchanges the Board in consultation with its Nomination & RemunerationCommittee has formulated a framework containing inter-alia the criteria for performanceevaluation of the entire Board of the Company its Committees and Individual Directorsincluding Independent Directors.

A structured questionnaire has been prepared covering various aspects of thefunctioning of the Board and its Committee such as adequacy of the constitution andcomposition of the Board and its Committees matters addressed in the Board and Committeemeetings processes followed at the meeting Board`s focus regulatory compliances andCorporate Governance etc. Similarly for evaluation of Individual Director's performancethe questionnaire covers various aspects like his/her profile contribution in Board andCommittee meetings execution and performance of specific duties obligations regulatorycompliances and governance etc.

Board members had submitted their response on a scale of 5(excellent) 1 (poor) forevaluating the entire Board respective Committees of which they are members and of theirpeer Board members including Chairman of the Board. The Independent Directors had metseparately without the presence of Non-Independent Directors and the members of managementand discussed inter-alia the performance of non-Independent Directors and Board as awhole and the performance of the Chairman of the Company after taking into considerationthe views of executive and Non-Executive Directors.

The Nomination and Remuneration Committee has also carried out evaluation of everyDirector`s performance. The performance evaluation of all the Independent Directors havebeen done by the entire Board excluding the Director being evaluated. On the basis ofperformance evaluation done by the Board it shall be determined whether to extend orcontinue their term of appointment whenever the respective term expires. The Directorsexpressed their satisfaction with the evaluation process.

Composition of Audit Committee

As on 31st March 2017 the Audit Committee of the Company comprises the followingdirectors: Mr Harsh Chander Kansal Chairman (Independent Director) Mr Hemant KumarBansal-Member (Independent Director) Mr Abhey Goyal- Member (Executive and PromoterDirector) Further all recommendations of Audit Committee were accepted by the Board ofDirectors.

Statutory Auditors and their Report

In terms of the provisions of Section 139 of the Companies Act 2013 read with theCompanies (Audit and Auditors) Rules 2014 M/s Tas Associates Chartered Accountants(Firm Registration No.010520N) the Auditors of your Company shall hold office till theconclusion of the ensuing AGM and they shall not be eligible for re-appointment due toexpiry of the maximum permissible tenure as the Auditors of your Company. Your Boardplaces on record its deep appreciation for the valuable contributions of the Auditorsduring their long association since the inception of your Company and wishes them successin the future.

The Audit Committee and the Board of Directors recommend the appointment of M/s. PawanShubham & Co. Chartered Accountants (Firm Registration No. 011573C) as statutoryauditors of the Company from the conclusion of the 26thAGM till the conclusion of 31stAGMto the shareholders.

Accordingly as per the said requirements of the Act M/s. Pawan Shubham & Co.Chartered Accountants (Firm Registration No. 011573C) are proposed to be appointed asauditors for a period of 5 years commencing from the conclusion of 26th AGM till theconclusion of the 31stAGM subject to ratification by shareholders every year as may beapplicable in place of M/s Tas Associates Chartered Accountants (Firm Registration No.010520N).

M/s. Pawan Shubham & Co. Chartered Accountants (Firm Registration No. 011573C)have consented to the said appointment and confirmed that their appointment if madewould be within the limits specified under Section 141(3) (g) of the Act. They havefurther confirmed that they are not disqualified of the provisions of the proviso toSection 139(1) Section 141(2) and Section 141(3) of the Act and the provisions of theCompanies (Audit and Auditors) Rules 2014.

There are no observations (including any qualification reservation adverse remark ordisclaimer) of the Auditors in their Audit Report that may call for any explanation fromthe Directors. Further the notes to accounts referred to in the Auditor`s Report areself-explanatory.

Cost Auditors and their Report

As per Section 148 of the Companies Act 2013 read with Rules framed thereunder M/sK.G. Goyal & Associates Cost Accountants (Firm`s Membership No. 000024) werere-appointed as Cost Auditors for the financial year 2016- 17 to conduct cost audit of theaccounts maintained by the Company in respect of the various products prescribed under theapplicable Cost Audit Rules. The remuneration of Cost Auditors has been approved by theBoard of Directors on the recommendation of Audit Committee. The requisite resolution forratification of remuneration of Cost Auditors by members of the Company has been set outin the Notice of ensuing annual general meeting. They have also been appointed as CostAuditors for financial year 2017-18 by the Board of Directors upon recommendation ofAudit Committee to conduct cost audit of the accounts maintained by the Company inrespect of the various products prescribed under the applicable Cost Audit Rules.

Secretarial Auditors and their Report

Your Board during the year appointed M/s R & D Company Secretaries to conductsecretarial audit of the Company for the financial year ended 31st March 2017. The Reportof M/s R & D Company Secretaries in terms of Section 204 of the Act is provided in the‘Annexure 4' forming part of this Report.

Directors' Responsibility Statement

Pursuant to the provisions under Section 134(5) of the Companies Act 2013 withrespect to Directors' Responsibility Statement the Directors confirm: a) That in thepreparation of the Annual Accounts the applicable Accounting Standards have been followedalong with proper explanation relating to material departures; b) That they had selectedsuch accounting policies and applied them consistently and made judgements and estimatesthat are reasonable and prudent so as to give a true and fair view of the state ofaffairs of the Company at the end of the financial year and of the profit and loss of theCompany for that period; c) That they had taken proper and sufficientcare for themaintenance of adequate accounting records in accordance with the provisions of theCompanies Act 2013 for safeguarding the assets of the Company and for preventing anddetecting fraud and other irregularities; d) That they had prepared the annual accounts ona going concern basis; e) That they had laid down internal financial controls to befollowed by the Company and that such internal financial controls are adequate and wereoperating effectively; and f) That they had devised proper systems to ensure compliancewith the provisions of all applicable laws and that such systems were adequate andoperating effectively.

Corporate Social Responsibility(CSR)

Your Company has alwaysbeenundertakingCSRactivitieson significantscale upholdingthe belief that corporates have a special and continuing responsibility towards socialdevelopment.

The vision of ASL CSR activities to make sustainable impact on the human development ofunderserved communities through initiatives in Education Health and Livelihoods has beenformally codified with the constitution of a dedicated Corporate Social ResponsibilityCommittee of the Board on through passing a resolution by circulation and noted the samein the Board Meeting held on 13th August 2016 by the Board of Directors of the Company asper of section 135 of the Companies Act 2013 and Rules framed thereunder. Detailsregarding the constitution roles and functions of the Corporate Social ResponsibilityCommittee are given in the Report on Corporate Governance.

Further the Board of Directors of your Company has also adopted the CSR Policy of theCompany as approved by the Corporate Social Responsibility Committee which is alsoavailable on the website of the Company at www.ajantasoya.com. As per Section 135 of theCompanies Act 2013 the Company has a Corporate Social Responsibility (CSR) Committee ofits Board of Directors. The Committee comprises: Mr Harsh Chander Kansal Chairman(Independent Director) Mr Sushil Goyal-Member (Executive and Promoter Director) Mr AbheyGoyal- Member (Executive and Promoter Director) During the year the Committee monitoredthe implementation and adherence to the CSR policy. The CSR policy provides a constructiveframework to review and organize our social outreach programs in the areas of educationhealth and livelihood. The policy enables a deeper understanding of outcome-focused socialdevelopment through diverse collaborations.

Details about the CSR policy and initiatives taken by the Company during the year areavailable on Company's website www.ajantasoya.com. The report on CSR activities of theCompany is attached as ‘Annexure 5'.

Details in respect of frauds reported by Auditors other than those which are reportableto the Central Government

The Statutory Auditors Cost Auditors and Secretarial Auditors of the Company have notreported any frauds to the Audit Committee or to the Board of Directors under Section143(12) of the Companies Act 2013 including rules made thereunder.

Internal Financial Controls System

According to Section 134(5)(e) of the Companies Act 2013 the term Internal FinancialControl (IFC) means the policies and procedures adopted by the company for ensuring theorderly and efficient conduct of its business including adherence to company's policiesthe safeguarding of its assets the prevention and detection of frauds and errors theaccuracy and completeness of the accounting records and the timely preparation ofreliable financial information. The Company has a well-placed proper and adequate IFCsystem which ensures that all assets are safeguarded and protected and that thetransactions are authorised recorded and reported correctly. The Company's IFC systemalso comprises due compliances with Company`s policies and Standard Operating Procedures(SOP`s) and audit and compliance by in-house Internal Audit Division supplemented byinternal audit checks from S.Chand Mittal & Co the Internal Auditors and varioustransaction auditors. The Internal Auditors independently evaluate the adequacy ofinternal controls and concurrently audit the majority of the transactions in value terms.Independence of the audit and compliance is ensured by direct reporting of Internal AuditDivision and Internal Auditors to the Audit Committee of the Board. During the year theInternal auditors have also been engaged for providing assistance in improvising IFCframework (including preparation of Risk & Control Matrices for various processes) anddeployment of Self Assessment Tool. control and its adequacy in compliance with theprovisions of Rule 8 (5)(viii) of Companies Detailsofinternalfinancial (Accounts) Rules2014 are included in the Management Discussion and Analysis Report which forms part ofthis Report.

Risk Management Policy

The Company has adopted a Risk Management Policy in accordance with the provisions ofthe Act and SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015. Itestablishes various levels of accountability and overview within the Company whilevesting identified managers with responsibility for each significant risk.

The Internal Audit Department facilitates the execution of Risk Management Practices inthe Company in the areas of risk identification assessment monitoring mitigation andreporting. Through this addresses opportunities and risks through a comprehensive approachaligned to the Company's objectives. The Company has laid down procedures to inform theAudit Committee as well as the Board of Directors about risk assessment and managementprocedures and status.

Sustainability is embedded in the Corporate Enterprise Risk Management programme whichgives an opportunity to increase the effectiveness of riskmanagementpracticesandforimprovingbusinessefficiency.The Company's social andenvironmental policies correlate strongly with the risk management strategy and ultimatelythe financial performance. This risk management process which is facilitated by internalaudit covers risk identification assessment analysis and mitigation. Incorporatingsustainability in the process also helps to align potential exposures with the riskappetite and highlights risks associated with chosen strategies. The current risk slateand the comprehensive risk policy have been further redefined during the year. The majorrisks forming part of the Enterprise Risk Management process are linked to the audituniverse and are covered as part of the annual risk based audit plan.

Vigil Mechanism Policy

The Company has adopted a Vigil Mechanism Policy to provide a formal mechanism to theDirectors and employees to report their concerns about unethical behavior actual orsuspected fraud or violation of the Company's Code of Conduct or ethics policy. The Policyprovides for adequate safeguards against victimization of employees who avail of themechanism and also provides for direct access to the Chairman of the Audit Committee. Itis affirmed personnel of the Company has been denied access to the Audit Committee.

Prevention of Sexual Harassment

The Company in its endeavour for zero tolerance towards sexual harassment at theworkplace has in accordance with the Sexual Harassment of Women at Workplace (PreventionProhibition and Redressal) Act 2013. During the year under review the Company has notreceived any complaint under the provisions of the Sexual Harassment of Women at Workplace(Prevention Prohibition & Redressal) Act 2013.

Extract of Annual Return

As required by Section 92(3) read with Rule 12 of the Companies (Management andAdministration) Rules 2014 the Extract of Annual Return in Form MGT-9 is annexedherewith as ‘Annexure 6' to this Report.

Contracts or arrangements with Related Parties under Section 188(1) of the CompaniesAct 2013

With reference to Section 134(3)(h) of the Companies Act 2013 all contracts andarrangements with related parties under Section 188(1) of the Act entered by the Companyduring the financial year were in the ordinary course of business and on an arm's lengthbasis. During the year the Company had not entered into any contract or arrangement withrelated parties which could be considered ‘material' according to the policy of theCompany on Materiality of Related Party Transactions. Accordingly there are notransactions that are required to be reported in form AOC-2. With reference to Clause53(f) of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 yourattention is also drawn to the Related Party disclosures set out in Note no. 36 ofthe Financial Statements.

Regulators or Courts or Tribunals impacting the going concerns Significant status andcompany`s operations in future material orders passed by any regulatory AuthorityCourt or Tribunal TheCompanyhasnotreceivedanysignificant which shall impact the goingconcern status and Company`soperations in future.

Acknowledgements

Your Directors place on record their gratitude to the Central Government StateGovernments and Company's Bankers for the assistance co-operation and encouragement theyextended to the Company. Your Directors also wish to place on record their sincere thanksand appreciation for the continuing support and unstinting efforts of investors vendorsdealers business associates and employees in ensuring an excellent all around operationalperformance.

By order of the board
For Ajanta Soya Limited
Sushil Goyal Abhey Goyal
DIN: 00125275 DIN: 02321262
Managing Director Whole Time Director
Address: House No. 42-A Address: House No. 42-A
Place: New Delhi Road No.78 West Punjabi Bagh Road No.78 West Punjabi Bagh
Date: 26th August 2017 New Delhi - 110026 New Delhi - 110026