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Sarthak Metals Ltd.

BSE: 540393 Sector: Metals & Mining
NSE: N.A. ISIN Code: INE017W01010
BSE LIVE 10:48 | 21 Sep 67.65 0.90
(1.35%)
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67.00

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67.65

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NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 67.00
PREVIOUS CLOSE 66.75
VOLUME 16000
52-Week high 76.05
52-Week low 27.70
P/E 23.49
Mkt Cap.(Rs cr) 93
Buy Price 63.10
Buy Qty 4000.00
Sell Price 68.00
Sell Qty 4000.00
OPEN 67.00
CLOSE 66.75
VOLUME 16000
52-Week high 76.05
52-Week low 27.70
P/E 23.49
Mkt Cap.(Rs cr) 93
Buy Price 63.10
Buy Qty 4000.00
Sell Price 68.00
Sell Qty 4000.00

Sarthak Metals Ltd. (SARTHAKMETALS) - Director Report

Company director report

To

The Members

Your Directors have pleasure in presenting the 22nd Annual Report of SARTHAK METALSLIMITED along with the Audited FFinancial Statements for the year ended 31st March 2017.

FFINANCIAL SUMMARY/HIGHLIGHTS

Our Company's Financial performance for the year under review has been encouraging andis summarized below:

(In lakhs)

Particulars Current Year as on 31.03.2017 Previous Year as on 31.03.2016
Total Income 15387.39 12871.40
Less: Expenditure & Depreciation 14799.98 12331.98
Proit before Tax (PBT) 587.41 539.42
Less: Tax (including deferred tax) 192.39 182.39
Proit Aft er Tax (PAT) 395.02 357.03

PERFORMANCE REVIEW

Iron & Steel sector has seen positive results in the past Financial year after manyyears of poor performance. This is mainly due to two reasons irst being higher budgetallocation by Central Government of on infrastructure expenditure and measures to stopcheap steel imports from China. Overall it has been a good year for your company. Ourrevenues have increased by 19.55% and EBIDTA by 11.93%. Earnings per share have alsoincreased by 10.5% despite new shares being issued by the company. The growth has beensteady despite many other players entering the market. We have been able to show goodperformance due to our client's trust in our product and their readiness to pay a premiumfor the same.

DIVIDEND

The Board consider that the proits of the company are attributed to the trust of theshareholders in the management of the Company. Accordingly the board proposed to declarea dividend of 5% per equity share and the same has been placed for approval ofshareholders of the company in the forthcoming Annual General Meeting (AGM).

RESERVES

During the year under review the Board in its meeting held on 29th May 2017 hasrecommended an amount of Rs. 6844875 as proposed dividend. The above proposal has beenrecommended by the Board of Directors of the Company which needs to be approved by theshareholders at ensuing Annual General Meeting. The Company has transferred Rs.32000000 to the securities premium account and no amount has been transferred to theRevaluation Reserve.

SHARE CAPITAL

The Paid-up Equity share capital of the Company as on 1st April 2016 was Rs.120897500 divided into 12089750 Equity Shares of Rs 10/- each. On 24th March 2017the Company has issued 1600000 more shares worth Rs 10 each. The equity share capitalthus as on 31/03/2017 was Rs. 136897500.

SUCCESSFUL INITIAL PUBLIC OFFERING

At the beginning of the Financial year the Company was an unlisted private Company.With e ect from 23rd August 2016 the Company converted into a Public Limited Company. TheCompany has made an Initial Public O er of 3636000 Equity Shares of Face Value of Rs.10each for cash at a price of Rs. 30 per Equity Share (including a share premium of Rs. 20per Equity share) ("O er Price) aggregating to Rs.1090.80 Lakhs ("The Oer") consisting of a fresh issue of 1600000 Equity Shares aggregating to Rs. 480lakhs (The "Fresh Issue) and an o er for sale of 2036000 Equity Shares by theselling shareholders aggregating to Rs. 610.80 lakhs ("O er for Sale") videProspectus dated 25th February 2017. The Company has successfully completed the InitialPublic O ering (IPO) in the current year pursuant to the applicable SEBI Rules andRegulations. The IPO opened on 10th March 2017 and closed on 17th March 2017.

The Public O er of the Company received an encouraging response from the investors andthe public issue was oversubscribed. The Equity Shares of the Company have been listed onSME Platform of BSE Limited w.e.f 27th March 2017.

EXTRACT OF THE ANNUAL RETURN

The extract of the annual return in Form No. MGT 9 is attached in Annexure A appendedto the Director's Report.

CHANGES IN DIRECTORS AND KEY MANAGERIAL PERSONNEL

During the year under review the requirement of Key Managerial Personnel becameapplicable to the Company.

Mr. Chetan Kumar (DIN: 00327687) and Mrs. Rama Kohli (DIN: 01835824) were appointed asIndependent Directors w.e.f 24.08.2016 of the Company pursuant to section 149 of theCompanies Act 2013 for a term of ive years each from 24th August 2016 to 23rd August2021 and that he/she will not be liable to retire by rotation. The appointment of Mr.Chetan Kumar and Mrs. Rama Kohli were approved by the shareholders at Extra OrdinaryGeneral Meeting on 26th August 2016.

In accordance with section 149 (7) of the Act each Independent Director has given awritten declaration to the company that he/she meets the criteria of independence as laiddown under section 149(6) of the Act and clause 49 of the Listing Agreement/ Regulation16(1) of SEBI (Listing Obligation and Disclosure Requirements) Regulations 2015.

Mr. Anoop Kumar Bansal (DIN: 01661844) was appointed as Managing Director of thecompany for a period of ive years w.e.f 21.08.2016. The appointment was approved by theBoard of shareholders of the Company at Annual General Meeting on 20th August 2016.

Mr. Kishore Kumar Bansal (DIN: 03067387) resigned from the post of Whole Time Directorof the company and continues as a normal Director of the Company w.e.f 16.08.2016.

Mr. Mayur Bhatt (07586457) was appointed as Whole Time Director of the Company w.e.f.24.08.2016 for a period of 3 years. The appointment was approved by the shareholders atAnnual General Meeting on 20th August 2016.

Mr. Sanjay Shah (00350967) was only a Director of the Company but w.e.f. 24.08.2016 hewas appointed as Whole Time Director of the Company for a period of 3 years. Theappointment was approved by the shareholders at Extra Ordinary General Meeting on 26thAugust 2016

Mr. Anirudh Singhal was appointed as Chief FFinancial Oficer of the Company w.e.f.24.08.2016. The appointment of Mr. Anirudh Singhal Chief FFinancial Oficer was approvedby the Board of Directors of the company at Board Meeting on 4th August 2016.

Ms. Brinda Sethi was appointed as Company Secretary of the Company w.e.f 12th August2016. She has resigned from the post of Company secretary of the Company w.e.f. 1st April2017.

Mrs. Itika Singhal was appointed as a Company Secretary of the Company with theapproval of Board in the Board Meeting w.e.f. 15th April 2017.

MANAGEMENT DISCUSSION AND ANALYSIS:

As required by Regulation 34 of the Securities and Exchange Board of India (ListingObligations and Disclosure Requirements) Regulations 2015 a Management Discussion &Analysis Report forms part of the Annual Report.

REPORT ON CORPORATE GOVERNANCE:

Sarthak Metals Limited is listed on SME Exchange of BSE the requirement of CorporateGovernance as notiied in Regulation 15 (2) of the SEBI (Listing Obligation and DisclosureRequirement) Regulation 2015 not applicable; therefore it is not required to maintainCorporate Governance Report.

DECLARATION BY INDEPENDENT DIRECTORS:

The Company has received declarations from all the Independent Directors of the Companyunder Section 149 (7) of Companies Act 2013 conirming that they meet with the criteria ofindependence as prescribed both under sub-section (6) of Section 149 of the Companies Act2013 and under Regulation 16 of the Securities and Exchange Board of India (ListingObligations and Disclosure Requirements) Regulations 2015.

PERFORMANCE EVALUATIONOF BOARD COMMITTEES & INDIVIDUAL DIRECTOR

A formal evaluation of the performance of the Board its Committees the Chairman andthe individual Directors was led by Nomination & Remuneration Committee theevaluation was done using individual interviews covering amongst other vision strategyand role clarity of the Board. Board dynamic and processes contribution towardsdevelopment of the strategy risk management budgetary controls receipt of regularinputs and information functioning performance & structure of Board Committeesethics & values skill set knowledge & expertise of Directors leadership etc.

As part of the evaluation process the performance of non- independent Directors theChairman and the Board was done by the Independent Directors. The performance evaluationof the respective Committees and that of independent and non- independent Directors wasdone by the Board excluding the Director being evaluated. The Directors expressedsatisfaction with the evaluation process.

FAMILIARISATION PROGRAMMES FOR BOARD MEMBERS:

The Board members are provided with brochures reports and internal policies to enablethem to familiarize with the Company's procedures and practices. The Chairman and ManagingDirector had one to one discussions with newly appointed Directors to familiarize themwith the Company's operations. Periodic presentations are made at the Board and BoardCommittee Meetings on business and performance updates of the Company global businessenvironment business strategy and risks involved. Quarterly updates on relevant statutoryand regulatory changes are circulated to the Directors. Site visits to various plantlocations are organized for the Directors to enable them to understand the operations ofthe Company.

NUMBER OF MEETINGS OF THE BOARD OF DIRECTORS

The Board of Directors duly met 8 (Eight) times in Financial y ear 31st March 2017.

Date

1.

29.04.2016

2.

05.07.2016

3.

04.08.2016

4.

12.08.2016

5.

24.08.2016

6.

10.12.2016

7.

10.02.2017

8.

23.03.2017

MEETINGS OF INDEPENDENT DIRECTORS:

The Company's Independent Directors shall meet at least once in every Financial yearwithout the presence of Executive Directors or management personnel. Such meetings areconducted informally to enable Independent Directors to discuss matters pertaining to (i)review the performance of Non-Independent Directors and the Board as a whole (ii) reviewthe performance of the Chairperson of the Company taking into account the views ofExecutive Directors and Non-Executive Directors; and (iii) to assess the quality quantityand timeliness of lo w of information between the Company Management and the Board.

AUDIT COMMITTEE

The Audit Committee was constituted in the Board Meeting and consists of the followingDirectors:

1. Mr. Chetan Kumar Chairman
2. Ms. Rama Kohli Member
3. Mr. Kishore Kumar Bansal Member

NOMINATION & REMUNERATION COMMITTEE

The Nomination and Remuneration Committee was constituted in the Board Meeting andComposition of the Committee is as under:

1. Mr. Chetan Kumar Chairman
2. Ms. Rama Kohli Member
3. Mr. Kishore Kumar Bansal Member

STAKEHOLDERS RELATIONSHIP COMMITTEE

The Stakeholders Relationship Committee was constituted in the Board Meeting andComposition of the Committee is as under:

1. Mr. Chetan Kumar Chairman
2. Ms. Rama Kohli Member
3. Mr. Kishore Kumar Bansal Member

CORPORATE SOCIAL RESPONSIBILITY COMMITTEE

The Stakeholders Relationship Committee was constituted in the Board Meeting andComposition of the Committee is as under:

1. Mr. Chetan Kumar Chairman
2. Ms. Rama Kohli Member
3. Mr. Kishore Kumar Bansal Member

NOMINATION & REMUNERATION POLICY OF THE COMPANY:

The Board has on the recommendation of the Nomination & Remuneration Committeeframed a policy for selection and appointment of Directors Senior Management and theirremuneration.

The Company's remuneration policy is directed towards rewarding performance based onreview of achievements periodically. The remuneration policy is in consonance with theexisting industry practice. Extract of Remuneration Policy from Nomination andRemuneration policy is attached as Annexure-A

ANALYSIS OF REMUNERATION

The details of remuneration paid to Directors and Key Managerial Personnel is given inextract of Annual return attached with this report.

Disclosure/details pursuant to provisions of Section 197 (12) of the Companies Act 2013read with the Companies (Appointment and Remuneration of managerial personnel) Rules 2014are given as follows:

Names and Positions [A] Ratio of Directors' Remuneration to the median Remuneration of Employees [B] Percentage (%) increase in Remuneration
MR. CHETAN KUMAR (INDEPENDENT DIRECTOR & CHAIRPERSON NIL Not Applicable
MS. RAMA KOHLI (INDEPENDENT DIRECTOR) NIL Not Applicable
MR. ANOOP KUMAR BANSAL (MANAGING DIRECTOR 31.54 Times Not Applicable
MR. MAYUR BHATT (WHOLE TIME DIRECTOR) 9.33 Times Not Applicable
MR. KISHORE KUMAR BANSAL 13.14 Times Not Applicable
(DIRECTOR)
MR. SANJAY SHAH (WHOLE TIME DIRECTOR) 31.54 Times Not Applicable
MR. ANIRUDH SINGHAL (CHIEF FFINANCIAL OFFICER) 5.69 Times Not Applicable
MS. BRINDA SETHI (COMPANY SECRETARY) 1.16 Times Not Applicable

The median remuneration of employees of the Company during the Financial year was Rs.114144 p.a. Please note that only those persons who were employees as on 31st March 2017have been considered for the calculation of the median salary. Further no bonus paymentshave been considered for these calculations.

[C] Percentage increase in the median Remuneration of Employees Since this is the irst year of listing for the company the median remuneration for last year was not calculated. Hence the percentage increase cannot be calculated.
[D] Number of permanent Employees on the rolls of Company 100 as on 31st March 2017
[E] Explanation on the relationship between average increase in Remuneration and Company per- formance Please refer Point C above
[F] Comparison of the Remuneration of the Key Managerial Personnel against the performance of the Company The Remuneration of the Key Managerial personnel has personnel has declined 13% and the company's turnover has increased by 19.5%. Further the company's EPS has also increased by 10.5%.
[G] Variations in the Market Capitalization of the Company as at 31st March 2017 as compared to 31st March 2016 The Company was not listed as on 31st March 2016 therefore market capitalization cannot be compared.
[H] Price Earning Ratio as at 31st March 2017 as compared to 31st March 2016 Increase of 10.5%
[I] Percentage increase or decrease in the market quotations of the shares of the company in comparison to the rate at which the company came out with the last public o er The company was listed as on 27th March 2017 at Rs 30 per equity share. The price per equity share on 31st March 2017 at closing bell was Rs 35.05 per share. The percentage increase is 16.83%.
(J) Average percentile increase already made in the salaries of employees other than the managerial personal in the last Financial year and its comparison with the percentile increase in the managerial remuneration and justiication thereof Please refer Point C above.

(K) Comparison of the each KMPs Remuneration vis-a-vis the performance of the Company

Name of KMP Remuneration of KMP Net Proit of Company after tax
(Rs in Lacs) (Rs in Lacs)
Mr. Anoop Kumar Bansal (Managing Director) 39.00 395.02
Mr. Anirudh Singhal (Chief FFinancial Ofic er) 8.00
12.15
Mr. Mayur Bhatt (Whole Time Director)
39.00
Mr. Sanjay Shah (Whole Time Director)
0.84
Ms. Brinda Sethi (Company Secretary)
(L) The key parameters for any variable component No
of remuneration availed by the directors
(M) The ratio of the remuneration of the highest paid Highest paid Directors Remuneration of Ratio
Director to that of the Employees who are not Directors but receive remuneration in excess of the highest paid Director during the year Remuneration Employee receiving remuneration in excess of (I) Not Applicable (I) Rs 3900000

PARTICULARS OF EMPLOYEES

None of the employees of the Company is drawing remuneration requiring disclosure ofinformation under section 134 of the Companies Act 2013 read with Rule 5(2) of theCompanies (Appointment & Remuneration of Managerial Personnel) Rules 2014 except thefollowing:

REGULATORY ORDERS

During the year there was no signiicant and material orders passed by the regulators orcourts or tribunals impacting the going concern status and Company's operations in future.

WHISTLE BLOWER POLICY:

Pursuant to the Section 177(9) and (10) of the Companies Act 2013 and Securities andExchange Board of India (Listing Obligations and Disclosure Requirements) Regulations2015 the Company has formulated Whistle Blower Policy for vigil mechanism for Directorsand Employees to report the management about the unethical behavior fraud improperpractice or violation of the Company's Code of Conduct or complaints regarding accountingauditing internal controls or disclosure practices of the Company. It gives a platform tothe whistle blower to report any unethical or improper practice (not necessarily violationof law) and to deine processes for receiving and investigating complaints. The mechanismprovides adequate safeguards against victimization of employees and directors who use suchmechanism and makes provision for direct access to the Chairman of the Audit Committee inexceptional cases.

STATUTORY AUDITORS

In accordance with the provisions of Section 139 & 142 of the Companies Act 2013read with the Companies (Audit and Auditors) Rules 2014 as amended from time to time andsuch other applicable provisions M/s Begani & Begani (FRN- 010779C) Statutory AuditFirm be and is hereby appointed as Auditors of the Company in place of B. Vishwanath &Co. Chartered Accountant (FRN- 007875C) to hold ofice from the conclusion of this AnnualGeneral Meeting ('AGM') till the conclusion of the 27th AGM to 2022 (subject toratiication of their appointment at every AGM if so required under the Act) at suchremuneration including applicable taxes as may be mutually agreed between the Board ofDirectors of the Company and the Auditors.

AUDITORS' REPORT

The Board has duly reviewed the Statutory Auditor's Report on the Accounts. Theobservations comments and notes of Auditor are self-explanatory and do not call for anyfurther explanation/clariication

COST AUDITOR- NOT APPLICABLE

SECRETARIAL AUDITORS

Pursuant to the provisions of Section 204 of Companies Act 2013 and the rules madethereunder the Company has appointed M/s NILESH A. PRADHAN & CO. Practicing CompanySecretary (COP. No. 3659) to undertake the Secretarial Audit of the Company for the 31stMarch 2017.

The Secretarial Audit Report for the Financial year ended 31st March 2017 is includedas Annexure MR-3 and forms an integral part of this report.

DETAILS OF SUBSIDIARY/JOINT VENTURES/ASSOCIATE COMPANIES

The Company does not have any Subsidiary Company or Joint Venture Company or AssociateCompany.

CORPORATE SOCIAL RESPONSIBILITY

The details of the Corporate Social Responsibility Policy framed and activities carriedout thereunder are required to be disclosed in the format prescribed under Companies(Corporate Social Responsibility Policy) Rules 2014 is given as Annexure-B

PARTICULARS OF LOANS GUARANTEES OR INVESTMENTS UNDER SECTION 186

There are no Loans Investments or Guarantees/Security given by the Company during theyear under section 186 of the Companies Act 2013; hence no particulars are required to begiven.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:

Details of related party transactions are required to be disclosed.

Kindly note that the format for disclosures of transactions with related party arementioned in Annexure AOC-2.

MATERIAL CHANGES AND COMMITMENTS IF ANY AFFECTING THE FFINANCIAL POSITION OF THECOMPANY WHICH HAVE OCCURRED BETWEEN THE END OF THE FFINANCIAL YEAR OF THE COMPANY TO WHICHTHE FFINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT

Management does not perceive any material changes occurred subsequent to the close ofthe Financial year as on 31st March 2017 before the date of report dated 29th May 2017a ecting the Financial position of the Company in any substantial manner.

ENERGY CONSERVATION TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:

(A) Particulars relating to conservation of energy and technology absorption stipulatedin the Companies (Accounts) Rules 2014 are not applicable. The Company is not energyintensive. Further the Company's technology is indigenously developed and beingconstantly upgraded based on earnings of the promoters and employees.

(B) Foreign exchange earnings and Outgo:

Particulars As on 01.04.2016 (In Rs.) As on 31.03.2017 (In Rs.)
Foreign exchange earnings 196337981.50 57199953
Foreign Exchange Outgo 335783332 397315729

PUBLIC DEPOSITS

Your Company has not accepted invited and/or received any deposits from public withinthe meaning of section 73 & 76 of the Companies Act 2013 and the Companies(Acceptance of Deposit) Rules 2014 as amended from time to time during the year underreview.

ISSUE OF EQUITY SHARES WITH DIFFERENTIAL VOTING RIGHTS/SWEAT EQUITY SHARES/ EMPLOYEESTOCK OPTION SCHEME

At the beginning of the year there were no Equity shares with di erential votingrights or sweat equity shares or employee stock option scheme outstanding.

During the year the Company has not issued any equity shares with di erential votingrights or sweat equity shares or shares under employee stock option scheme. Hencedisclosures regarding the same are not required to be given.

INTERNAL CONTROL SYSTEM AND THEIR ADEQUACY

The Company has proper and adequate system of internal controls to ensure that all theassets are safeguarded and protected against losses from unauthorized use or dispositionand that transactions are authorized recorded and reported correctly. The Company has ane ective system in place for achieving eficiency in operations optimum and e ectiveutilization of resources monitoring thereof and compliance with applicable laws. Theauditors have also expressed their satisfaction on the adequacy of the internal controlsystems incorporated by your company in their independent Internal Auditor Report.

DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION PR OHIBITIONAND REDRESSAL) ACT 2013:

The Company has in place a policy on Prevention Prohibition and Redressal of SexualHarassment at workplace in line with the requirements of The Sexual Harassment of Women atWorkplace (Prevention Prohibition and Redressal) Act 2013. An Internal ComplaintsCommittee (ICC) has been set up to redress complaints received regarding sexualharassment. The policy has set guidelines on the redressal and enquiry process that is tobe followed by complainants and the ICC whilst dealing with issues related to sexualharassment at the work place. All women employees (permanent temporary contractual andtrainees) are covered under this policy. The Company has not received any complaintsduring the year.

DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to the requirements under Section 134(5) of the Companies Act 2013 withrespect to the Director's Responsibilities Statement the Directors state and herebyconirm that:

(a) In the preparation of the annual accounts the applicable accounting standards havebeen followed along with proper explanation relating to material departures;

(b) the directors have 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 a airs of the company at the end of the Financial y ear and ofthe proit and loss of the compan y for that period;

(c) The directors have taken proper and suficient care for the maintenance of adequateaccounting records in accordance with the provisions of this Act for safeguarding theassets 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 devised proper systems to ensure compliance with the provisionsof all applicable laws and that such systems are adequate and operating e ectively.

ACKNOWLEDGMENTS:

The Board of Directors wish to place on record its appreciation for the commitmentdedication and hard work done by the employees of the Company and the cooperation extendedby Banks Government Authorities Customers Shareholders and looks forward to a continuedmutual support and co-operation.

FOR SARTHAK METALS LIMITED

Sd/

(ANOOP KUMAR BANSAL)

(DIN No. 01661844)

Chairman & Managing Director

Place: Bhilai Chhattisgarh

Date: 23.06.2017

ANNEXURE: A

PROVISIONS RELATING TO REMUNERATION OF MANAGERIAL PERSONNEL KMP AND SENIOR MANAGEMENT

1) To grant approval for formulation of the criteria for determining qualiBicationspositive attributes and independence of a director and recommend to the Board of Directorsa policy relating to the remuneration of the directors key managerial personnel andother employees.

2) To grant approval for formulation of criteria for evaluation of performance ofindependent Directors and the Board of Directors.

3) To grant approval for devising a policy on diversity of Board of Directors.

4) To approve and recommend to the Board of Directors appointment of persons who arequaliied to become directors and who may be appointed in senior management in accordancewith the criteria laid down as well as removal.

5) To grant approval whether to extent or continue the term of appointment of theindependent director on the basis of the report of performance evaluation of independentdirectors.

Annual Report on CSR Activities (Annexure- B)

1. A brief outline of the company's CSR policy including overview of projects or programs proposed to be undertaken and a reference to the web-link to the CSR policy and projects or programs. Sarthak Metals Limited is keen to working towards providing education to the under priviledged kids. In this endeavor the company has associated itself with Shoshit Seva Sangh Foundation which operates a school in Patna for the Musahar (Rat Eating) Community of Bihar. The link of the website is http://sssfoundation.org.
2. The composition of the CSR committee Composition of the CSR Committee
1. Mr. Chetan Kumar- Chairman/ Non- Executive & Independent Director
2. Mrs. Rama Kohli- Member/ Non- Executive & Independent Director
3. Mr. Kishore Kumar Bansal- Member/ Non- Executive & Non- Independent Directror
3. Average net proBit of the company for last three Financial years. Rs 596.44 Lacs
4. Prescribed CSR Expenditure (two percent of the amount as in item 3 above) Rs 9.03 lacs.
5. Details of CSR spent during the Financial year:
(a) Total amount to be spent for the Financial year Rs. 9.03 lacs
(b) Amount unspent if any Rs. 6.63 lacs
(c) Manner in which the amount spent during the Financial year is detailed below Rs 2.40 lacs Donation to SSS Foundation

 

(1) (2) (3) (4) (5) (6) (7) (8)
Sl. CSR project or activity Identiied Sector in which the Project is covered Project or programs Amount outlay (budget) project or programs wise Amount spent on the projects or programs Sub-heads: Cumulative expenditure upto the reporting period (as on 31.03.2017 ) Amount spent: Direct or through implemen ting agency
(1) Local area or other (1) Direct expenditure on projects or programs
(2) Specify the State and district where projects or programs were undertaken (Amount in Rs.) (2) Overheads (Amount in Rs.)
1. Shoshit Seva EDUCATION BIHAR Rs 9.03 lacs Rs 2.40 lacs Rs 2.40 lacs Direct
Sangh Foundation

 

6 In case the company has failed to spend the two percent of the average net proit of the last three Financial y ears or any part thereof the company shall provide the reasons for not spending the amount in its Board Report. NA
7. A responsibility statement of the CSR Committee that the implementation and monitoring of CSR policy is in compliance with CSR objectives and Policy of the company. YES