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Alkali Metals Ltd.

BSE: 533029 Sector: Industrials
NSE: ALKALI ISIN Code: INE773I01017
BSE LIVE 15:41 | 02 Dec 70.05 4.05
(6.14%)
OPEN

64.10

HIGH

71.00

LOW

64.05

NSE LIVE 15:30 | 02 Dec 68.00 0.75
(1.12%)
OPEN

66.00

HIGH

68.40

LOW

65.15

OPEN 64.10
PREVIOUS CLOSE 66.00
VOLUME 3306
52-Week high 107.70
52-Week low 35.95
P/E 79.60
Mkt Cap.(Rs cr) 71.31
Buy Price 70.05
Buy Qty 31.00
Sell Price 0.00
Sell Qty 0.00
OPEN 64.10
CLOSE 66.00
VOLUME 3306
52-Week high 107.70
52-Week low 35.95
P/E 79.60
Mkt Cap.(Rs cr) 71.31
Buy Price 70.05
Buy Qty 31.00
Sell Price 0.00
Sell Qty 0.00

Alkali Metals Ltd. (ALKALI) - Director Report

Company director report

To

The Members

Alkali Metals Limited

Your Directors have pleasure in presenting the 48th Annual Report on thebusiness and operations of the Company and the accounts for the Financial Year ended 31stMarch 2016.

1. Financial summary or highlights/Performance of the Company

The performance of the company for the financial year ended 31st March 2016is summarized as below:

(All figures in Rs.)
2015-16 2014-15
Net Turnover 732815895 684394228
Profit/(Loss) before finance charges depreciation and taxation 101757550 101512407
Less : Finance Charges 34364210 45002861
Depreciation and Amortization expense 37529881 42730767
Profit/(Loss) before exceptional items and tax 29863459 13778779
Less: Exceptional items -- 7330352
Extraordinary Items -- 3407658
Profit/(Loss) before tax 29863459 3040769
Less : Current Year's tax (MAT) 6238171 579419
MAT Credit Entitlement (6238171) (579419)
Previous Years 7311139 201884
Deferred tax (AS22) -- --
Profit/(Loss) After tax 22552320 2838885
Add: Balance Brought forward 54048648 68628281
Less: Interim Dividend paid 8146005 --
Tax on Interim Dividend 1658335 --
Proposed Dividend 4073002 --
Tax on Proposed Dividend 829168 --
Transfer to General Reserve -- --
Adjusted for Depreciation as per new regulations -- 17418518
Balance surplus carried to Balance Sheet 61894458 54048648

2. Dividend

Final dividend of Rs. 0.40 per equity share of Rs. 10/- each has been recommended bythe Board of Directors for the year ended 31st March 2016 subject to theapproval of the shareholders at the ensuing Annual General Meeting in addition to theinterim dividend at the rate of Rs. 0.80 per equity share of Rs. 10/- each was declared on23.01.2016 and paid accordingly. Final Dividend if approved will be paid within 30 daysof the Annual General Meeting.

3. Reserves

During the year under review company had not transferred any amount to GeneralReserves.

4. Brief description of the Company’s performance during the year

Your Directors are happy to announce that a Turnover of Rs. 733 Million which is thehighest ever recorded in the company history. The turnover is increased by 7% as Compareto last year and the profit after tax is increased by 695% as compared to last year andstood at Rs.23 Million.

Company had taken appropriate measures to control the cost including financial measuresand was able to sell the value added products to achieve the profit during the year.

Your Directors are confident that the measures taken by them will continue to give goodresults in the coming years.

SIGNIFICANT ACHIEVEMENT

Company is a regular foreign exchange earner; the following are the details of the Netforeign exchange earnings for the last 3 years.

(All figures in Rs.)
2013-14 2014-15 2015-16
92.5 Million 175.3 Million 226.8 Million

5. Future outlook

Your Company is planning to expand by increasing the capacities and/or range ofproducts both regular as well as APIs either at the Unit-III located at Vishakhapatnam orthe proposed Pharmacity at Mucharla in the state of Telangana. This will increase thecompany top/bottom line.

Your Directors are confident to increase the volumes and margins as well as net foreignexchange earnings in the coming years.

6. Research & Development

The company has spent Rs. 7.2 Million towards Research and Development during thefinancial year and is putting continuous efforts in R&D to develop the new productsand process for optimum material consumptions by effective yield.

During the year the company has commercialized 4 new products which have goodpotential in the years to go.

The revenues generated by the R&D products for the last 3 years are

(All figures in Rs.)
2013-14 2014-15 2015-16
4.5 Million 52.5 Million 69.1 Million

7. Change in the nature of business if any

Company had not changed its nature of business during the year under review.

8. Material changes and commitments after the closure of financial year

Company had not faced any Material changes subsequent to the closure of the financialyear which will affect the financial position or operations of the Company.

9. Significant and Material Orders

There are no significant and material orders passed by the regulators or court ortribunals impacting the going concern status and Company operations in future.

10. Internal Financial Controls

Your company had adequate internal controls and such procedures adopted by the Companyfor ensuring the orderly and efficient conduct of its business including safeguarding ofall its assets and prevention/detection of frauds and errors accuracy and completeness ofaccounting records.

Auditors have verified the internal financial controls and tested the adequacy and theprocedures adopted by the company and confirm that the controls are adequate to the sizeof the transactions. The management reviews and monitors the controls and process on aregular basis.

11. Risk Management

The Management of the Company will take adequate steps in identifying assessingcontrolling and mitigating the risks associated with different areas of its businessoperations.

12. Details of Subsidiary/Joint Ventures/Associate Companies

Your company had no subsidiaries Joint Ventures and associate companies during thefinancial year under review.

13. Deposits

Your company has not accepted any deposits covered under chapter V of the CompaniesAct 2013 during the year under review and also no outstanding at the beginning of thefinancial year.

14. Auditors

Statutory Auditors

M/s. C K S Associates Statutory Auditors were appointed as auditors of the Company atthe Annual General Meeting held on 21st August 2014 for a period of 5 yearsi.e. upto year 2019. As per the provisions of the Companies Act 2013 the appointment ofstatutory auditors has to be ratified every year. Accordingly it is proposed to ratifythe appointment at the ensuing Annual General Meeting.

Internal Auditors

The Board of directors of the company have appointed M/s. Ramakrishna & AssociatesChartered Accountants as Internal Auditors to conduct the Internal Audit of the companyfor the financial year ended 31st March 2016

Secretarial Auditors

The Board of directors of the company have appointed CS B. Venkatesh Babu PracticingCompany Secretary as Secretarial Auditor to conduct Secretarial Audit of the company forthe financial year ended 31st March 2016.

15. Share Capital

Your Company had not issued and raised any share capital including sweat equityemployee stock options during the financial year under review. Your company has also notprovided any money for purchase of its own shares by employees or for the benefit ofemployees.

16. Extract of the annual return

The extract of the annual return in Form MGT – 9 is enclosed as Annexure -1 andshall form part of the Board’s report.

17. Conservation of energy technology absorption and foreign exchange earnings andoutgo The details of conservation of energy technology absorption foreign exchangeearnings and outgo have been provided in Annexure -2 and shall form part of this report.

18. Corporate Social Responsibility (CSR)

Your company is not covered under the provisions of Corporate Social Responsibility.But the company realizes its Social Responsibility and therefore is providing the freemedical help to the poor people and financial assistance to the poor students through aCharitable Trust run by the promoters.

19. Directors

Since the last annual general meeting there is no change in the Board of Directors ofthe Company.

Smt. Y. Lalithya Poorna Director will retire by rotation at the ensuring annualgeneral meeting and being eligible offers herself for reappointment.

Details of no. of Board meetings are covered under the Corporate Governance section.

Declaration by an Independent Director

Company had received the declaration by an Independent Director(s) that he/they meetthe criteria of independence as per the provisions of Section 149 of the Companies Act2013

Formal Annual Evaluation

Pursuant to the provisions of the Companies Act 2013 the Board has devised a policy onevaluation of performance of Board of Directors Committees and Individual Directors.Accordingly the Chairman of the Nomination and Remuneration Committee obtained from allthe board members duly filled in evaluation templates for evaluation of the Board as awhole evaluation of the committees and peer evaluation. The summary of the evaluationreports were presented to the respective Committees and the Board for their consideration.

20. Key Managerial Persons

During the year the Company had Appointed Mr. M. Karunakar Reddy as the CompanySecretary of the Company in the casual vacancy caused by resignation of Mr. DeepakTibrewal in compliance with the provisions of the Companies Act 2013.

21. Director’s Responsibility Statement

As per the provisions of clause (c) of sub-section (3) of Section 134 ofthe Companies Act 2013 your Directors shall state that—

(a) in the preparation of the annual accounts the applicable accountingstandards have been followed along with proper explanation relating to materialdepartures;

(b) the directors have selected such accounting policies and applied themconsistently and made judgments and estimates that are reasonable and prudent so as togive a true and fair view of the state of affairs of the company at the end of thefinancial year and of the profit or loss of the company for that period;

(c) the directors have taken proper and sufficient care for the maintenance ofadequate accounting records in accordance with the provisions of this Act for safeguardingthe assets of the company and for preventing and detecting fraud and other irregularities;

(d) the directors have prepared the annual accounts on a going concern basis;and

(e) the directors have laid down internal financial controls to be followed bythe company and that such internal financial controls are adequate and were operatingeffectively.

(f) the directors have devised proper systems to ensure compliance with theprovisions of all applicable laws and that such systems were adequate and operatingeffectively.

22. Committees

Your company has Audit Committee Nomination and Remuneration Committee andStakeholders Relationship Committee and the details are provided in the CorporateGovernance section.

23. Vigil mechanism for directors and employees

The company believes in the standard of conduct which all employees are expected toobserve in their business endeavors. The Code (Vigil Mechanism) reflects theCompany’s commitment to principles of integrity transparency and fairness. The copyof the Code of Vigil Mechanism is available on the Company website www.alkalimetals.comunder Investor tab.

The Company has adopted a Whistle Blower Policy as part of vigil mechanism to provideappropriate avenues to the Directors and employees to bring to the attention of themanagement any issue which is perceived to be in violation of or in conflict with thefundamental business principles of the Company. The employees are encouraged to voicetheir concerns by way of whistle blowing and all the employees have been given access tothe Audit Committee.

The Executive Director Sri. Y.V. PRASHANTH is designated as ombudsperson to deal withall the complaints registered under the policy.

24 . Policy on Sexual Harassment

Company had adopted policy on Prevention of Sexual Harassment of Women at Workplace inaccordance with The Sexual Harassment of Women at Workplace (Prevention Prohibition andRedressal) Act 2013. During the year there were no female employees working for theCompany.

25. Particulars of loans guarantees or investments

The Company had not given any loans guarantees or made investments as per theprovisions of section 186 of the Companies Act 2013 during the financial year underreview and also there are no outstanding amounts of loans given guarantees providedand/or investments made at the beginning of the year.

26. Particulars of contracts or arrangements with related parties

The Company had not entered into any contract or arrangements with related partiesreferred to in sub-section (1) of section 188 of the Companies Act 2013 including certainarms length transactions under third proviso thereto.

The Company has formulated a policy on materiality of Related Party Transactions anddealing with Related Party Transactions which can be accessed at the Company website www.alkalimetals.comunder Investor tab.

27. Managerial Remuneration/Employee Details

The Details required to be provided pursuant to Rule 5(1) of the Companies (Appointmentand Remuneration of Managerial Personnel) Rules 2014 are enclosed as Annexure -3 and thesame form part of the Directors Report.

There are no employees in the company in receipt of amounts covered in rule 5(2) of theCompanies (Appointment and Remuneration of Managerial Personnel) Rules 2014.

28.Secretarial Audit Report

A Secretarial Audit Report given by CS B. Venkatesh Babu Company Secretary in practiceis enclosed as Annexure -4 and the same form part of this report.

29. Corporate Governance/Management Discussion and Analysis

In terms of Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements)Regulations 2015 a Report on Corporate Governance along with Compliance Certificateissued by Statutory Auditor’s of the Company and also the Management Discussion andAnalysis report is annexed to this Annual Report and forms integral part of this Report.

30. Insurance

All the properties and insurable interests of the Company including building plant andmachinery and stocks have been adequately insured.

31. Listing on Stock Exchanges

The securities of the company are continued to be listed on BSE and NSE. The listingfees for these stock exchanges is paid for the current year.

32. Cost Audit

Pursuant to provisions of section 148 of the Companies Act 2013 read with Companies(Cost Records and Audit) Rules 2014 cost audit is not applicable for the financial year2015-16 for the Company.

33. Acknowledgements

Your Directors express their gratitude to all stakeholders bankers regulatoryauthorities government customers suppliers business associates from India and abroadstaff and workers for their continued support at all times and look forward to have thesame in our future endeavours. Directors are pleased to record their appreciation of thesincere and dedicated services of the employees and workmen at all levels.

Your Directors look forward to the long term future with confidence

For and on behalf of Board of Directors
Y.S.R. VENKATA RAO DR. J.S. YADAV
Place: Hyderabad MANAGING DIRECTOR CHAIRMAN
Date: 02.05.2016 DIN: 00345524 DIN: 02014136

ANNEXURE -1

EXTRACT OF ANNUAL RETURN

as on the financial year ended on 31/03/2016

[Pursuant to section 92(3) of the Companies Act 2013 and rule 12(1) of theCompanies

Management and Administration) Rules 2014]

I. REGISTRATION AND OTHER DETAILS:

(i) CIN : L27109TG1968PLC001196
(ii)Registration Date : 17/04/1968
(iii) Name of the Company: Alkali Metals Limited
(iv)Category / Sub-Category of the Company: Limited Company/Indian Non Govt Company
(v) Address of the Registered office and contact details: B-5 IDA Uppal Hyderabad - 500039
cs.alkalimetals@gmail.com
040 - 27562932
(vi)Whether listed company : Yes
(vii) Name Address and Contact details of Registrar and Transfer Agent if any: Cameo Corporate Services Limited
Subramanian Building No.1
Club House Road
Chennai – 600 002
Sri. Murali
PH NO: 044-28460390
Email ID: cameosys@cameoindia.com
CIN: U67120TN1998PLC041613

II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY:

All the business activities contributing 10 % or more of the total turnover of thecompany shall be stated:-

S.No Name and Description of main products / services NIC Code of the Product/ service % to total turnover of the company
1 Sodium Derivatives 20119 59.75
2 Pyridine Derivatives 20119 20.20
3 Fine Chemicals 20119 16.58

III. PARTICULARS OF HOLDING SUBSIDIARY AND ASSOCIATE COMPANIES :

S.No Name and address of the company CIN/GLN Holding/ Subsidiary/ Associate % of shares held Applicable Section
NIL

IV. SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of Total Equity)

i) Category-wise Share Holding: Equity

No. of Shares held at the beginning of the year No. of Shares held at the end of the year
Category of Shareholders Demat Physical Total % of Total Shares Demat Physical Total % of Total Shares % of Change during the Year
(A) Promoters
(1) Indian
(a) Individual/HUF 6904715 0 6904715 67.810 6904715 0 6904715 67.810 0
(b) Central Govt 0 0 0 0 0 0 0 0 0
(c) State Govt (s) 0 0 0 0 0 0 0 0 0
(d) Bodies Corp. 633 0 633 0.006 633 0 633 0.006 0
(e) Banks / FI 0 0 0 0 0 0 0 0 0
(f) Any Other…. 195494 0 195494 1.920 195494 0 195494 1.920 0
Directors and relatives
Sub-Total (A) (1) 7100842 0 7100842 69.736 7100842 0 7100842 69.736 Nil
(2) Foreign
(a) NRIs – Individuals 0 0 0 0 0 0 0 0 0
(b) Other – Individuals 0 0 0 0 0 0 0 0 0
(c) Bodies Corp. 0 0 0 0 0 0 0 0 0
(d) Banks / FI 0 0 0 0 0 0 0 0 0
(e) Any Other…. 0 0 0 0 0 0 0 0 0
Sub-Total (A) (2) 0 0 0 0 0 0 0 0 0
Total Shareholding of Promoter (A) = (A) (1) + (A) (2) 7100842 0 7100842 69.736 7100842 0 7100842 69.736 Nil
(B) Public Shareholding
(1) Institutions
(a) Mutual Funds 0 0 0 0 0 0 0 0 0
(b) Banks/FI 0 0 0 0 0 0 0 0 0
(c) Central Govt 0 0 0 0 0 0 0 0 0
(d) State Govt (s) 0 0 0 0 0 0 0 0 0
(e) Venture Capital funds 0 0 0 0 0 0 0 0 0
(f) Insurance Companies 0 0 0 0 0 0 0 0 0
(g) FIIs 0 0 0 0 0 0 0 0 0
(h) Foreign Venture Capital Funds 0 0 0 0 0 0 0 0 0
(i) Others (Specify) 0 0 0 0 0 0 0 0 0
Sub-Total (B)(1) 0 0 0 0 0 0 0 0 0
(2) Non- Institutions
(a) Bodies Corp
i. Indian 272989 0 272989 2.681 302526 0 302526 2.971 0.290
ii. Overseas
(b) Individuals
i. Individual shareholders holding nominal share capital up to Rs.0.1 million 2362853 1083 2363936 23.215 2273332 1083 2274415 22.337 (0.879)

 

ii. Individual shareholders holding nominal share capital in excess of Rs. 0.1 million 232794 0 232794 2.286 324305 0 324305 3.184 0.899
(C) Others (Specify)
NRI 89154 0 89154 0.875 67710 0 67710 0.664 (0.210)
HUF 112732 0 112732 1.107 110418 0 110418 1.084 (0.023)
Clearing members 10059 0 10059 0.099 2290 0 2290 0.022 (0.077)
Sub-Total (B)(2) 3080581 1083 3081664 30.264 3080581 1083 3081664 30.264 0
Total Shareholding of Promoter = (B) (1) + (B) (2) 3080581 1083 3081664 30.264 3080581 1083 3081664 30.264 0
C. Shares held by custodian for GDRs & ADRs 0 0 0 0 0 0 0 0 0
Grand Total (A+B+C) 10181423 1083 10182506 100.000 10181423 1083 10182506 100.000 0

(ii) Shareholding of Promoters:

Shareholding at the beginning of the year Shareholding at the end of the year
S.No Shareholders’ Name No. of Shares % of total Shares of the company %of Shares Pledged / encumber ed to total shares No. of Shares % of total Shares of the company %of Shares Pledged / encumber ed to total shares % of Change during the Year
1 Y.S.R.Venkata Rao 6904715 67.810 20.920 6904715 67.810 20.920 0
2 Y. Lalithya Poorna 110000 1.080 0 110000 1.080 0 0
3 Y.S.R. Krishna Rao 56500 0.555 0 56500 0.555 0 0
4 Y. Krishna Veni 28994 0.285 0 28994 0.285 0 0
5 CDC Industrial Infra Ltd 633 0.006 0 633 0.006 0 0
Total 7100842 69.736 20.920 7100842 69.736 20.920

(iii) Change in Promoters’ Shareholding (please specify if there is no change):no changes

Shareholding at the beginning of the year Cumulative Shareholding during the year
Sl No Name of the Share holder No of shares '% of total shares of the company No of shares '% of total shares of the company
NIL

(iv) Shareholding Pattern of top ten Shareholders (other than Directors Promoters andHolders of GDRs and ADRs):

Shareholding at the beginning of the year Cumulative Shareholding during the year
Sl No Name of the Share holder No of shares % of total shares of the company No of shares % of total shares of the company
1 BABALBHAI MANILAL PATEL
At the beginning of the year 01-Apr-2015 36699 0.3604 36699 0.3604
Purchase 17-Apr-2015 501 0.0049 37200 0.3653
Purchase 24-Apr-2015 3000 0.0294 40200 0.3947
Purchase 01-May-2015 1400 0.0137 41600 0.4085
Purchase 29-May-2015 32 0.0003 41632 0.4088
Sale 19-Jun-2015 -33 0.0003 41599 0.4085
Purchase 26-Jun-2015 521 0.0051 42120 0.4136
Purchase 03-Jul-2015 1000 0.0098 43120 0.4234
Purchase 10-Jul-2015 1000 0.0098 44120 0.4332
Sale 24-Jul-2015 -2000 0.0196 42120 0.4136
Sale 31-Jul-2015 -2000 0.0196 40120 0.3940
Sale 07-Aug-2015 -1500 0.0147 38620 0.3792
Sale 14-Aug-2015 -500 0.0049 38120 0.3743
Purchase 28-Aug-2015 1000 0.0098 39120 0.3841
Purchase 04-Sep-2015 1000 0.0098 40120 0.3940
Sale 20-Nov-2015 -800 0.0078 39320 0.3861
Sale 04-Dec-2015 -2000 0.0196 37320 0.3665
Purchase 11-Dec-2015 662 0.0065 37982 0.3730
Purchase 18-Dec-2015 338 0.0033 38320 0.3763
Purchase 25-Dec-2015 3000 0.0294 41320 0.4057
Purchase 31-Dec-2015 1000 0.0098 42320 0.4156
Purchase 01-Jan-2016 1000 0.0098 43320 0.4254
Purchase 08-Jan-2016 2406 0.0236 45726 0.4490
Purchase 15-Jan-2016 1594 0.0156 47320 0.4647
Purchase 22-Jan-2016 17544 0.1722 64864 0.6370
Purchase 29-Jan-2016 456 0.0044 65320 0.6414
At the end of the Year 31-Mar-2016 65320 0.6414 65320 0.6414
2 G. SHANTHA
At the beginning of the year 01-Apr-2015 30500 0.2995 30500 0.2995
Purchase 30-Sep-2015 14500 0.1424 45000 0.4419
At the end of the Year 31-Mar-2016 45000 0.4419 45000 0.4419
HAVING SAME PAN
SHANTHA GOPALAKRISHNAN
At the beginning of the year 01-Apr-2015 0 0.0000 0 0.0000
Purchase 18-Mar-2016 12589 0.1236 12589 0.1236
Purchase 25-Mar-2016 40 0.0003 12629 0.1240
At the end of the Year 31-Mar-2016 12629 0.1240 12629 0.1240
HAVING SAME PAN
SHANTHA. G.
At the beginning of the year 01-Apr-2015 0 0.0000 0 0.0000
Purchase 24-Apr-2015 1000 0.0098 1000 0.0098
Sale 08-May-2015 -600 0.0058 400 0.0039
Purchase 19-Jun-2015 887 0.0087 1287 0.0126
Sale 20-Nov-2015 -1287 0.0126 0 0.0000
Purchase 29-Jan-2016 500 0.0049 500 0.0049
Purchase 26-Feb-2016 1000 0.0098 1500 0.0147
At the end of the Year 31-Mar-2016 1500 0.0147 1500 0.0147
3 SHANTI KUMAR SARAOGI
At the beginning of the year 01-Apr-2015 29509 0.2898 29509 0.2898
Sale 17-Apr-2015 -1100 0.0108 28409 0.2789
Sale 15-May-2015 -24571 0.2413 3838 0.0376
Sale 22-May-2015 -3517 0.0345 321 0.0031
Sale 29-May-2015 -259 0.0025 62 0.0006
Sale 07-Aug-2015 -62 0.0006 0 0.0000
At the end of the Year 31-Mar-2016 0 0.0000 0 0.0000
4 BANSURI POLY PACK PRIVATE LIMITED
At the beginning of the year 01-Apr-2015 20000 0.1964 20000 0.1964
At the end of the Year 31-Mar-2016 20000 0.1964 20000 0.1964
5 NAGAVENU TRINADHABABU YALAMARTI
At the beginning of the year 01-Apr-2015 19528 0.1917 19528 0.1917
Sale 08-May-2015 -476 0.0046 19052 0.1871
Sale 15-May-2015 -3000 0.0294 16052 0.1576
Sale 22-May-2015 -2890 0.0283 13162 0.1292
Sale 29-May-2015 -1000 0.0098 12162 0.1194
Sale 17-Jul-2015 -1000 0.0098 11162 0.1096
Sale 24-Jul-2015 -1000 0.0098 10162 0.0997
Purchase 22-Jan-2016 1000 0.0098 11162 0.1096
Sale 29-Jan-2016 -1000 0.0098 10162 0.0997
Sale 18-Mar-2016 -1000 0.0098 9162 0.0899
At the end of the Year 31-Mar-2016 9162 0.0899 9162 0.0899
HAVING SAME PAN
Y N V T BABU
At the beginning of the year 01-Apr-2015 124 0.0012 124 0.0012
At the end of the Year 31-Mar-2016 124 0.0012 124 0.0012
6 KAILASHBEN ASHOKKUMAR PATEL
At the beginning of the year 01-Apr-2015 17500 0.1718 17500 0.1718
Sale 05-Jun-2015 -2500 0.0245 15000 0.1473
Sale 19-Jun-2015 -1000 0.0098 14000 0.1374
Sale 31-Jul-2015 -1000 0.0098 13000 0.1276
Sale 18-Sep-2015 -5000 0.0491 8000 0.0785
Sale 25-Sep-2015 -2478 0.0243 5522 0.0542
Sale 30-Sep-2015 -5522 0.0542 0 0.0000
Purchase 27-Nov-2015 2000 0.0196 2000 0.0196
Purchase 11-Dec-2015 5000 0.0491 7000 0.0687
Purchase 31-Dec-2015 501 0.0049 7501 0.0736
At the end of the Year 31-Mar-2016 7501 0.0736 7501 0.0736
7 KARVY STOCK BROKING LTD
At the beginning of the year 01-Apr-2015 16196 0.1590 16196 0.1590
Sale 10-Apr-2015 -1414 0.0138 14782 0.1451
Purchase 17-Apr-2015 901 0.0088 15683 0.1540
Purchase 24-Apr-2015 608 0.0059 16291 0.1599

 

Sale 01-May-2015 -108 0.0010 16183 0.1589
Sale 08-May-2015 -785 0.0077 15398 0.1512
Purchase 15-May-2015 1036 0.0101 16434 0.1613
Sale 22-May-2015 -91 0.0008 16343 0.1605
Sale 29-May-2015 -74 0.0007 16269 0.1597
Purchase 05-Jun-2015 38 0.0003 16307 0.1601
Purchase 12-Jun-2015 992 0.0097 17299 0.1698
Sale 19-Jun-2015 -1297 0.0127 16002 0.1571
Sale 26-Jun-2015 -383 0.0037 15619 0.1533
Sale 30-Jun-2015 -33 0.0003 15586 0.1530
Purchase 03-Jul-2015 475 0.0046 16061 0.1577
Sale 10-Jul-2015 -475 0.0046 15586 0.1530
Purchase 17-Jul-2015 837 0.0082 16423 0.1612
Sale 24-Jul-2015 -276 0.0027 16147 0.1585
Purchase 31-Jul-2015 1619 0.0158 17766 0.1744
Sale 07-Aug-2015 -1756 0.0172 16010 0.1572
Purchase 14-Aug-2015 2063 0.0202 18073 0.1774
Sale 21-Aug-2015 -1950 0.0191 16123 0.1583
Sale 28-Aug-2015 -561 0.0055 15562 0.1528
Purchase 04-Sep-2015 369 0.0036 15931 0.1564
Sale 11-Sep-2015 -69 0.0006 15862 0.1557
Sale 18-Sep-2015 -1250 0.0122 14612 0.1435
Sale 25-Sep-2015 -300 0.0029 14312 0.1405
Sale 09-Oct-2015 -75 0.0007 14237 0.1398
Sale 16-Oct-2015 -768 0.0075 13469 0.1322
Sale 23-Oct-2015 -623 0.0061 12846 0.1261
Purchase 30-Oct-2015 42 0.0004 12888 0.1265
Purchase 06-Nov-2015 120 0.0011 13008 0.1277
Sale 20-Nov-2015 -238 0.0023 12770 0.1254
Purchase 27-Nov-2015 452 0.0044 13222 0.1298
Sale 04-Dec-2015 -209 0.0020 13013 0.1277
Sale 11-Dec-2015 -604 0.0059 12409 0.1218
Sale 18-Dec-2015 -100 0.0009 12309 0.1208
Sale 25-Dec-2015 -600 0.0058 11709 0.1149
Purchase 31-Dec-2015 1980 0.0194 13689 0.1344
Sale 01-Jan-2016 -245 0.0024 13444 0.1320
Sale 08-Jan-2016 -521 0.0051 12923 0.1269
Purchase 15-Jan-2016 65 0.0006 12988 0.1275
Sale 22-Jan-2016 -79 0.0007 12909 0.1267
Purchase 29-Jan-2016 240 0.0023 13149 0.1291
Sale 05-Feb-2016 -231 0.0022 12918 0.1268
Purchase 12-Feb-2016 606 0.0059 13524 0.1328
Sale 19-Feb-2016 -300 0.0029 13224 0.1298
Purchase 26-Feb-2016 105 0.0010 13329 0.1309
Purchase 04-Mar-2016 10 0.0000 13339 0.1309
Sale 11-Mar-2016 -90 0.0008 13249 0.1301
Sale 18-Mar-2016 -96 0.0009 13153 0.1291
Sale 25-Mar-2016 -130 0.0012 13023 0.1278
Sale 31-Mar-2016 -470 0.0046 12553 0.1232
At the end of the Year 31-Mar-2016 12553 0.1232 12553 0.1232
HAVING SAME PAN
KARVY STOCK BROKING LTD- F-O MARGIN
At the beginning of the year 01-Apr-2015 1040 0.0102 1040 0.0102
Purchase 24-Apr-2015 200 0.0019 1240 0.0121
Sale 01-May-2015 -300 0.0029 940 0.0092
Sale 08-May-2015 -60 0.0005 880 0.0086
Sale 26-Jun-2015 -1 0.0000 879 0.0086
Purchase 17-Jul-2015 3 0.0000 882 0.0086
Purchase 07-Aug-2015 100 0.0009 982 0.0096
Sale 21-Aug-2015 -100 0.0009 882 0.0086
Purchase 16-Oct-2015 68 0.0006 950 0.0093
Sale 25-Dec-2015 -30 0.0002 920 0.0090
Sale 26-Feb-2016 -100 0.0009 820 0.0080
Sale 18-Mar-2016 -70 0.0006 750 0.0073
At the end of the Year 31-Mar-2016 750 0.0073 750 0.0073
HAVING SAME PAN
KARVY STOCK BROKING LIMITED
At the beginning of the year 01-Apr-2015 402 0.0039 402 0.0039
Sale 10-Apr-2015 -150 0.0014 252 0.0024
Purchase 17-Apr-2015 200 0.0019 452 0.0044
Sale 08-May-2015 -300 0.0029 152 0.0014
Purchase 07-Aug-2015 2 0.0000 154 0.0015
Purchase 14-Aug-2015 550 0.0054 704 0.0069
Purchase 21-Aug-2015 497 0.0048 1201 0.0117
Sale 09-Oct-2015 -1000 0.0098 201 0.0019
Sale 20-Nov-2015 -50 0.0004 151 0.0014
Purchase 18-Dec-2015 1 0.0000 152 0.0014
Sale 29-Jan-2016 -1 0.0000 151 0.0014
Purchase 18-Mar-2016 100 0.0009 251 0.0024
Purchase 25-Mar-2016 100 0.0009 351 0.0034
At the end of the Year 31-Mar-2016 351 0.0034 351 0.0034
8 BONANZA PORTFOLIO LTD
At the beginning of the year 01-Apr-2015 14604 0.1434 14604 0.1434
Sale 10-Apr-2015 -1190 0.0116 13414 0.1317
Purchase 17-Apr-2015 2719 0.0267 16133 0.1584
Purchase 24-Apr-2015 406 0.0039 16539 0.1624
Sale 01-May-2015 -2100 0.0206 14439 0.1418
Sale 08-May-2015 -730 0.0071 13709 0.1346
Sale 15-May-2015 -770 0.0075 12939 0.1270
Purchase 22-May-2015 3000 0.0294 15939 0.1565
Sale 29-May-2015 -5 0.0000 15934 0.1564
Purchase 05-Jun-2015 2170 0.0213 18104 0.1777
Sale 19-Jun-2015 -638 0.0062 17466 0.1715
Sale 26-Jun-2015 -260 0.0025 17206 0.1689
Sale 30-Jun-2015 -230 0.0022 16976 0.1667
Sale 03-Jul-2015 -70 0.0006 16906 0.1660
Purchase 17-Jul-2015 150 0.0014 17056 0.1675
Sale 24-Jul-2015 -1080 0.0106 15976 0.1568
Purchase 31-Jul-2015 1310 0.0128 17286 0.1697
Sale 07-Aug-2015 -300 0.0029 16986 0.1668
Purchase 14-Aug-2015 664 0.0065 17650 0.1733
Sale 21-Aug-2015 -1440 0.0141 16210 0.1591
Sale 28-Aug-2015 -517 0.0050 15693 0.1541
Purchase 04-Sep-2015 100 0.0009 15793 0.1550
Sale 11-Sep-2015 -50 0.0004 15743 0.1546
Sale 12-Sep-2015 -50 0.0004 15693 0.1541
Purchase 18-Sep-2015 100 0.0009 15793 0.1550
Sale 25-Sep-2015 -650 0.0063 15143 0.1487
Sale 30-Sep-2015 -26 0.0002 15117 0.1484
Purchase 23-Oct-2015 1 0.0000 15118 0.1484
Sale 30-Oct-2015 -1350 0.0132 13768 0.1352
Purchase 06-Nov-2015 373 0.0036 14141 0.1388
Sale 20-Nov-2015 -100 0.0009 14041 0.1378
Purchase 27-Nov-2015 884 0.0086 14925 0.1465
Sale 04-Dec-2015 -344 0.0033 14581 0.1431
Sale 11-Dec-2015 -750 0.0073 13831 0.1358
Sale 31-Dec-2015 -842 0.0082 12989 0.1275
Sale 08-Jan-2016 -300 0.0029 12689 0.1246
Purchase 15-Jan-2016 100 0.0009 12789 0.1255
Sale 22-Jan-2016 -4500 0.0441 8289 0.0814
Purchase 29-Jan-2016 105 0.0010 8394 0.0824
Sale 05-Feb-2016 -300 0.0029 8094 0.0794
Purchase 12-Feb-2016 50 0.0004 8144 0.0799
Sale 19-Feb-2016 -20 0.0001 8124 0.0797
Sale 26-Feb-2016 -500 0.0049 7624 0.0748
Sale 04-Mar-2016 -6 0.0000 7618 0.0748
Sale 25-Mar-2016 -151 0.0014 7467 0.0733
At the end of the Year 31-Mar-2016 7467 0.0733 7467 0.0733
9 GAUTAM DUTTA MUNSI
At the beginning of the year 01-Apr-2015 12538 0.1231 12538 0.1231
Sale 10-Apr-2015 -12538 0.1231 0 0.0000
Purchase 17-Apr-2015 4274 0.0419 4274 0.0419
Purchase 24-Apr-2015 290 0.0028 4564 0.0448
Sale 08-May-2015 -100 0.0009 4464 0.0438
Sale 05-Jun-2015 -464 0.0045 4000 0.0392
Sale 12-Jun-2015 -4000 0.0392 0 0.0000
At the end of the Year 31-Mar-2016 0 0.0000 0 0.0000
10 A V SHILPA
At the beginning of the year 01-Apr-2015 12295 0.1207 12295 0.1207
Sale 10-Jul-2015 -12295 0.1207 0 0.0000
At the end of the Year 31-Mar-2016 0 0.0000 0 0.0000
NEW TOP 10 AS ON (31-Mar-2016)
11 ARKOSHA TRADING & INVESTMENTS PRIVATE LTD.
At the beginning of the year 01-Apr-2015 0 0.0000 0 0.0000
Purchase 01-May-2015 13855 0.1360 13855 0.1360
Purchase 15-May-2015 28343 0.2783 42198 0.4144
Purchase 22-May-2015 1743 0.0171 43941 0.4315
Purchase 29-May-2015 5000 0.0491 48941 0.4806
Purchase 12-Jun-2015 4609 0.0452 53550 0.5259
At the end of the Year 31-Mar-2016 53550 0.5259 53550 0.5259
12 SAVITA BHARAT JALAN
At the beginning of the year 01-Apr-2015 0 0.0000 0 0.0000
Purchase 10-Apr-2015 1400 0.0137 1400 0.0137
Purchase 17-Apr-2015 3364 0.0330 4764 0.0467
Purchase 15-May-2015 20000 0.1964 24764 0.2432
Purchase 19-Jun-2015 8992 0.0883 33756 0.3315
Purchase 26-Jun-2015 3509 0.0344 37265 0.3659
Purchase 31-Jul-2015 4952 0.0486 42217 0.4146
Sale 04-Mar-2016 -1000 0.0098 41217 0.4047
At the end of the Year 31-Mar-2016 41217 0.4047 41217 0.4047
13 PADMARAJ INVESTMENT TRADING CO.(P) LTD.
At the beginning of the year 01-Apr-2015 1485 0.0145 1485 0.0145
Purchase 03-Apr-2015 3232 0.0317 4717 0.0463
Purchase 10-Apr-2015 751 0.0073 5468 0.0536
Purchase 17-Apr-2015 169 0.0016 5637 0.0553
Purchase 22-May-2015 18968 0.1862 24605 0.2416
Purchase 29-May-2015 1453 0.0142 26058 0.2559
At the end of the Year 31-Mar-2016 26058 0.2559 26058 0.2559
14 BRAHMAIAH KOLLURI
At the beginning of the year 01-Apr-2015 0 0.0000 0 0.0000
Purchase 29-Jan-2016 25000 0.2455 25000 0.2455
At the end of the Year 31-Mar-2016 25000 0.2455 25000 0.2455
15 MANJUL SANJAY BANSAL
At the beginning of the year 01-Apr-2015 0 0.0000 0 0.0000
Purchase 19-Jun-2015 18000 0.1767 18000 0.1767
At the end of the Year 31-Mar-2016 18000 0.1767 18000 0.1767
16 MOKSHA BHARAT SHAH
At the beginning of the year 01-Apr-2015 0 0.0000 0 0.0000
Purchase 21-Aug-2015 5000 0.0491 5000 0.0491
Purchase 04-Dec-2015 5000 0.0491 10000 0.0982
Purchase 11-Dec-2015 2596 0.0254 12596 0.1237
Purchase 31-Mar-2016 5404 0.0530 18000 0.1767
At the end of the Year 31-Mar-2016 18000 0.1767 18000 0.1767
17 CHILUKURI PRAVEEN
At the beginning of the year 01-Apr-2015 0 0.0000 0 0.0000
Purchase 05-Feb-2016 15058 0.1478 15058 0.1478
Purchase 19-Feb-2016 970 0.0095 16028 0.1574
Purchase 26-Feb-2016 18 0.0001 16046 0.1575
Purchase 11-Mar-2016 174 0.0017 16220 0.1592
Purchase 18-Mar-2016 30 0.0002 16250 0.1595
At the end of the Year 31-Mar-2016 16250 0.1595 16250 0.1595

(v) Shareholding of Directors and Key Managerial Personnel:

Shareholding at the beginning of the year Cumulative Shareholding during the year
S.No For Each of the Directors and KMP No. of shares % of total shares of the company No. of shares % of total shares of the company
1 Y.S.R. Venkata Rao
At the beginning of the year 6904715 67.810 6904715 67.810
At the End of the year 6904715 67.810 6904715 67.810
2 Y. Lalithya Poorna
At the beginning of the year 110000 1.080 110000 1.080
At the End of the year 110000 1.080 110000 1.080
3 Ch.S. Prasad
At the beginning of the year 253 0.002 253 0.002
At the End of the year 253 0.002 253 0.002

V. INDEBTEDNESS:

Indebtedness of the Company including interest outstanding/accrued but not due forpayment

(All figures in Rs.)
Secured Loans excluding deposits Unsecured Loans Deposits Total Indebtedness
Indebtedness at the beginning of the financial year
i) Principal Amount 243033064 84.479010 0 327512074
ii) Interest due but not paid 762637 0 0 762637
iii) Interest accrued but not due 0 0 0 0
Total (i+ii+iii) 243795701 84479010 0 328274711
Change in Indebtedness during the financial year
Addition 0 0 0 0
Reduction 50594724 59113855 0 109708579
Net Change (50594724) (59113855) 0 (109708579)
Indebtedness at the end of the financial year
i) Principal Amount 192990896 25365155 0 218356051
ii) Interest due but not paid 210081 0 0 210081
iii) Interest accrued but not due 0 0 0 0
Total (i+ii+iii) 193200977 25365155 0 218566132

VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL:

A. Remuneration to Managing Director Whole-time Directors and/or Manager:

(All figures in Rs.)
Name of MD/WTD/Manager
S.No Particulars of Remuneration Y.S.R. Venkata Rao MD Y.V. Prashanth WTD Total Amount
1 Gross salary
(a) Salary as per provisions contained in section 3500000 1200000 4700000
17(1) of the Income-tax Act 1961
(b) Value of perquisites u/s 17(2) Income-tax Act 1961 0 0 0
(c) Profits in lieu of salary under section 17(3) Income-tax Act 1961 0 0 0
2 Stock Option 0 0 0
3 Sweat Equity 0 0 0
4 Commission 0 0 0
- as % of profit
- others specify…
5 Others please specify 0 0 0
Fee for attending the board meeting
Total (A) 3500000 1200000 4700000
Ceiling as per the Act 4200000 4200000 8400000

B. Remuneration to other Directors:

(All figures in Rs.)

Name of Directors
S.No Particulars of Remuneration Ch.S. Prasad G. Jayaraman P.C. Patnaik J.S. Yadav Total Amount
1 Independent Directors 105000 105000 85000 75000 370000
Fee for attending board / committee meetings
Commission 0 0 0 0 0
Others please specify 0 0 0 0 0
Total (1) 105000 105000 85000 75000 370000
2 Other Non-Executive Directors Y. Lalithya Poorna
Fee for attending board / committee meetings 15000 15000
Commission 0 0
Others please specify 0 0
Total (2) 15000 15000
Total (B) = (1)+(2) 385000
Total Managerial Remuneration 5085000
Overall Ceiling as per the Act 8400000

C. Remuneration to other Directors key managerial personnel other than MD/MANAGER/WTD

(All figures in Rs.)

Key Managerial Personnel
S.No Particulars of Remuneration M. Karunakar Reddy P. Sankara Rao Total
CS CFO
(a) Salary as per provisions contained in section 17(1) of the Income-tax Act 1961 62576 986106 1048682
(b) Value of perquisites u/s 17(2) Income-tax Act 1961 0 0 0
(c) Profits in lieu of salary under section 17(3) Income-tax Act 1961 0 0 0
2 Stock Option 0 0 0
3 Sweat Equity 0 0 0
4 Commission 0 0 0
- as % of profit
- others specify…
5 Others please specify 0 0 0
Total (A) 62576 986106 1048682

Note: CS is appointed in January 2016.

VII. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES:

Type Section of the Companies Act Brief Description Details of Penalty /Punishment/ Compounding fees imposed Authority [RD /NCLT/ COURT] Appeal made if any (give Details)
Penalty Nil Nil Nil Nil Nil
Punishment Nil Nil Nil Nil Nil
Compounding Nil Nil Nil Nil Nil
OTHER OFFICERS IN DEFAULT
Penalty Nil Nil Nil Nil Nil
Punishment Nil Nil Nil Nil Nil
Compounding Nil Nil Nil Nil Nil

 

For and on behalf of Board of Directors
Y.S.R. VENKATA RAO DR. J.S. YADAV
Place: Hyderabad MANAGING DIRECTOR CHAIRMAN
Date: 02.05.2016 DIN: 00345524 DIN: 02014136

ANNEXURE -2

Disclosure of particulars with respect to conservation of energy technology absorptionand foreign exchange earnings and outgo as required under provisions of section 134(3)(m)read with Companies (Accounts) Rules 2014:

A. CONSERVATION OF ENERGY

1) The steps taken or impact on conservation of energy:

The continuous measures taken by the company for conserving the energy particularlyinstallation of Hydrogen recovery plant and Nitrous oxide generation plant at all thecompany units and usage of cost effective fuels made substantial contribution towards costreduction.

2) The steps taken by the Company for utilizing alternate sources of energy: Companywill take continuous steps to use the alternate sources by using cost effective fuels.

3) The Capital investment on energy conservation equipments: Not envisaged anyadditional investment in the coming year.

B. TECHNOLOGY ABSORPTION

i. The Efforts made towards technology absorption: Company had its own technology forthe process and the products and the company is in the continuous process of its R&Dto reduce the process time cost etc.

ii. The Benefits derived like product improvement cost reduction product developmentor import substitution:

• Consistent approach to chemical process parameters for quality standards.

• Commercialization of new products

• Save time by automating repetitive R&D tasks

• Gain valuable chemical process understanding from low value material and processattributes data using machine learning methods.

• Adaptability to cost cutting measures.

iii. Details of technology imported during the past 3 years: No technology has beenimported during the past 3 years.

iv. The expenditure incurred on Research and Development: Rs. 7.2million.

C. FOREIGN EXCHANGE EARNINGS AND OUT GO

(All figures in Rs.)
2015-16 2014-15
Earnings 362875782 347797134
Outgo 136040129 172528131
Raw Materials 134359982 168953970
Foreign currency Exp. 1680147 3574161
Net Foreign Exchange earnings 226835653 175269003

 

For and on behalf of Board of Directors
Y.S.R. VENKATA RAO DR. J.S. YADAV
Place: Hyderabad MANAGING DIRECTOR CHAIRMAN
Date: 02.05.2016 DIN: 00345524 DIN: 02014136

ANNEXURE-3

Statement of particulars as per Rule 5 of Companies (Appointment and Remuneration ofManagerial personnel) Rules 2014

(i) The ratio of the remuneration of each director to the median remuneration of theemployees of the company for the financial year:

S.No Name of the Director Ratio of the remuneration to the median remuneration of the employees
1 Sri. Y.S.R. Venkata Rao Managing Director 14.02
2 Sri. Y.V. Prashanth Executive Director 4.81

Note: No other director is drawing remuneration other than specified above.

(ii) The percentage increase in remuneration of each Director Chief Financial OfficerChief Executive Officer Company Secretary or Manager in the financial year

S.No Name of the Director and KMP Percentage increase in remuneration
1 Sri. Y.S.R. Venkata Rao Managing Director 50.00%
2 Sri. Y.V. Prashanth Executive Director N.A
3 Mr. P. Sankara Rao CFO 14.81%
4 Mr. M. Karunakar Reddy CS N.A

Note: Mr. M. Karunakar Reddy CS is appointed from Jan 2016.

(iii) The percentage increase in the median remuneration of employees in the financialyear 10.59% increase in median remuneration

(iv) The number of permanent employees on the rolls of Company 120 members as on 31stMarch 2016.

(v) The explanation on the relationship between average increase in remuneration andcompany performance

Average increase in remuneration Company performance
10.88% Turnover is increased from Rs. 684 Million to Rs. 733 Million and the Profit before tax of Rs. 3 Million to Rs. 30 Million as compared to last year.

(vi) Comparison of the remuneration of the Key Managerial Personnel against theperformance of the company

(All figures in Rs.)
Turnover 732815895
Profit before tax 29863459
Total Remuneration to KMP 5748682

(vii) Variations in the market capitalisation of the company price earnings ratio asat the closing date of the current financial year and previous financial year andpercentage increase over decrease in the market quotations of the shares of the company incomparison to the rate at which the company came out with the last public offer

(All figures in Rs.)
S.No. Particulars 31.03.2016 31.03.2015
1 Market Capitalisation
BSE 417991871 327876693
NSE 413409744 333477071
2 Price Earnings ratio (based on Basic EPS)
BSE 18.57 52.79
NSE 18.37 53.69

3 Market quotation of the shares compare to rate at which came out with IPO.

The Company came with Initial Public Offer during the period of 2008 at a price of Rs.103/- per share. As on 31st March 2016 the market quotation of the companyshares price is BSE- Rs. 41.05 and NSE Rs. 40.60.

(viii) Average percentile increase already made in the salaries of employees other thanthe managerial personnel in the last financial year and its comparison with the percentileincrease in the managerial remuneration and justification thereof and point out if thereare any exceptional circumstances for increase in the managerial remuneration:

The Average percentage of increase in remuneration of employees other than themanagerial personnel is 9.43%. There increase in the remuneration of Managing Director is50% during the financial year but there is no increase in Executive Director during theyear.

(ix) Comparison of the each remuneration of the Key Managerial Personnel against theperformance of the company

S.No Name Remuneration of Key Managerial Person (Rs.) Performance of the Company during % to Revenue
2014-15
1 Sri. Y.S.R. Venkata Rao 3500000 Turnover Rs.732815895 Profit before tax Rs.29863459 0.48%
2 Sri. Y.V. Prashanth(part of the year) 1200000 0.16%
3 Mr. P. Sankara Rao 986106 0.13%
4 Mr. M. Karunakar Reddy 62576 0.05%
(Annualized)

Note: M. Karunakar Reddy appointed during Jan 2016.

(x) The key parameters for any variable component of remuneration availed by thedirectors

There is no variable component of remuneration to any Directors during the year ended31st March 2016.

(xi) The ratio of the remuneration of the highest paid director to that of theemployees who are not directors but receive remuneration in excess of the highest paiddirector during the year Not Applicable.

(xii) Affirmation that the remuneration is as per the remuneration policy of thecompany. It is hereby affirmed that the remuneration paid is as per the RemunerationPolicy for Directors KMPs and other Employees.

For and on behalf of Board of Directors
Y.S.R. VENKATA RAO DR. J.S. YADAV
Place: Hyderabad MANAGING DIRECTOR CHAIRMAN
Date: 02.05.2016 DIN: 00345524 DIN: 02014136

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