You are here » Home » Companies » Company Overview » Alchemist Corporation Ltd

Alchemist Corporation Ltd.

BSE: 531409 Sector: Others
NSE: N.A. ISIN Code: INE057D01016
BSE 00:00 | 17 Sep 12.46 -0.51
(-3.93%)
OPEN

13.61

HIGH

13.61

LOW

12.40

NSE 05:30 | 01 Jan Alchemist Corporation Ltd
OPEN 13.61
PREVIOUS CLOSE 12.97
VOLUME 14430
52-Week high 13.61
52-Week low 4.43
P/E 89.00
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 13.61
CLOSE 12.97
VOLUME 14430
52-Week high 13.61
52-Week low 4.43
P/E 89.00
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Alchemist Corporation Ltd. (ALCHEMISTCORP) - Director Report

Company director report

To the members of alchemist corporation limited directors' report to the members

The directors are pleased to present annual report and audited accounts for thefinancial year ended march 31 2020.

Financial highlights

Audited financials results – standalone (rs. In lakh)

Particulars Year ended 31st march 2020 Year ended 31st march 2019
Net sales/income from operations 34.24 34.30
Other income - 0.89
Total income 34.24 35.19
Total expenses 29.59 28.88
Exceptional items
Profit / (loss) before taxation 4.66 6.32
Deferred tax / current tax 0.42 0.67
Profit / (loss) after taxation 4.24 5.66
Surplus / (deficit) carried to balance sheet
Earning per equity share (for continuing operation)
- basic 0.086 0.115
- diluted 0.086 0.115

Audited financials results - consolidated

Particulars Year ended 31st march 2020 Year ended 31st march 2019
Net sales/income from operations 34.24 34.30
Other income - 0.89
Total income 34.24 35.19
Total expenses 31.78 30.16
Exceptional items
Profit / (loss) before taxation 2.46 5.03
Deferred tax / current tax 0.42 0.66
Profit /( loss) after taxation and before minority interest 2.04 4.37
Profit / (loss) after taxation and after minority interest 3.01 4.97
Earning per equity share (for continuing operation)
- basic 0.06 0.10
- diluted 0.06 0.10

Operations

The income of the company for the period under review was rs. 34.24 lakhs as againstrs. 35.19 lakhs in the last year resulting into a profit of rs 4.24 lakhs as against aprofit of rs. 5.66 lakhs in the previous year mainly on account of administrativeexpenses

Salary costs and depreciation.

Capital structure

During the current year the company has not received any additional capital. Totalpaid up paid up share capital of the company as on 31st march 2020 is rs. 49143330.

Dividend

In view of insufficient profit during 2019-2020 your directors have not recommendedany dividend . For the financial year 2019-2020

Reserve

The board of directors of the company does not propose any amount to carry to anyreserve for the financial year ended march 31

2020.

Fixed deposit

Your company has not accepted any fixed deposits during the year.

Material changes and commitments affecting the financial position of the company

No material changes or commitments have occurred between the end of the financial yearto which the financial statements relate and the date of this report affecting thefinancial position of the company.

Statutory auditors

The tenure of statutory auditor m/s pawan k. Agrawal & co. chartered accountantsnoida has expired now and board of directors of the company is in opinion to appoint newstatutory auditors for company. In this regard board has invited profiles of someexperienced chartered accountants and shortlisted m/s s. Kumar goel & companychartered accountants ghaziabad having firm registration number 05275c allotted by theinstitute of chartered accountants of india for statutory auditors of the company for aperiod of three (3) years from the conclusion of the 27th annual general meeting to beheld on september 29 2020 till the conclusion of annual general meeting for the financialyear 2022-23 in its meeting and also passed resolution in this regard. The appointment ofstatutory auditor is subject to the approval by the members of the company in ensuing 27thannual general meeting of the company.

Auditors' report

The observations/qualifications of the auditors in the auditors report are explainedand clarified wherever necessary in the appropriate notes to the accounts.

Reporting of fraud by auditors:

During the year under review neither the statutory auditors nor the secretarialauditors has reported to the audit committee under

Section 143(12) of the companies act 2013 any instances of fraud committed againstthe company by its officers details of which would need to be mentioned in the board'sreport.

Internal auditor

The company has appointed m/s. S. Kumar goel & company chartered accountants (firmregistration no. 05275c) as an internal auditor of the company for the fy 2019-20 toconduct internal audit of the company.

Secretarial auditors

Pursuant to the provisions of section 204 of the act and the companies (appointment andremuneration of managerial personnel) rules 2014 the company has appointed m/s. Dattganesh & associates company secretaries as its secretarial auditor to conduct thesecretarial audit of the company for the financial year 2019-20. The report of secretarialauditor (form mr - 3) is annexed to the report as "annexure - i".

Prevention of insider trading:

In compliance with the provisions of securities exchange board of india (prohibition ofinsider trading) regulations 2015 the board has adopted a code of conduct and code ofpractices and procedures for fair disclosure of unpublished price sensitive information topreserve the confidentiality of price sensitive information to prevent misuse code ofpractices and procedures for fair disclosure of unpublished price sensitive information isalso available on the company's website.

Extract of annual return

Pursuant to section 92(3) of the companies act 2013 and rule 12(1) of the companies(management and administration) rules 2014 extract of annual return in form mgt-9 isannexed to the report as "annexure - ii".

Conservation of energy research & development technology absorption foreignexchange earning and outgo:

The information as per section 134(3)(m) of the act read with rule 8 of the companies(accounts) rules 2014 regarding conservation of energy research & developmenttechnology absorption and foreign exchange earning and outgo is annexed to the report as"annexure - iii".

Management discussion & analysis

A separate report on management discussion and analysis relating to business andeconomic environment surrounding your company is annexed as a part of this report as"annexure - iv".

Corporate governance

Your company is committed to maintain the highest standards of corporate governance.Your directors adhere to the requirements set out by the securities and exchange board ofindia's corporate governance practices and have implemented all the stipulationsprescribed. Corporate governance report is annexed as a part of this report as "annexure-v".

Particulars of employees

None of the employees of the company draws remuneration exceeding the limits prescribedunder rule 5 of companies (appointment and remuneration of managerial personnel) rules2014 read with section 197 of the act hence the statement required under the said is notrequired to be annexed.

Annual accounts of subsidiary

As per the provisions of sec 129 (3) of the companies act 2013 read with rule 5 of thecompanies (accounts) rules 2014 the company has prepared a statement containing salientfeatures of financial statement of subsidiary in the prescribed form aoc – 1 which isannexed as "annexure - vi" for the year 2019-20.

The consolidated financial statements have been presented in the annual report.

Details of directors and key managerial personnel

Our company has 4 directors mr. Sohan lal managing director mrs. Meena rastogidirector mr. Sanjeev kumar independent director and mr. Dinesh chand goel independentdirector of the company.

Director coming up for retire by rotation

Mrs. Meena rastogi (din: 01572002) director of the company retires by rotation andbeing eligible and offers herself for reappointment. Your director recommends herreappointment. Appointment of mrs. Meena rastogi is in compliance with the provisions ofsection 164(2) of the companies act 2013.

Independent director

Pursuant to the provisions of section 149 and other applicable provisions of thecompanies act 2013 with respect to appointment and tenure of the independent directorswhich came into effect from april 1 2014 the independent directors shall be appointedfor not more than two terms of five years each and shall not be liable to retire byrotation. The term shall be effective prospectively.

During the year under review the below mentioned are the appointments and resignationson various positions:

Appointment of directors & key managerial personnel

Board appointed mr. Amol mathur as a company secretary & complaince officer of thecompany as on 01st april 2019.

Further there is no change in the directorship of the company during the year.

Resignation of directors & key managerial personnel

There is no change in the directorship of the company during the year.

Key managerial personnel

The following persons have been designated as key managerial personnel of the company.Pursuant to section 2 (51) and section 203 of the act read with rules framed there under:

1. Mr. Sohan lal managing director;

2. Mr. Tushar rastogi chief financial officer;

3. Mr. Amol mathur company secretary.

Number of meetings of the board

During the period commencing from 1st april 2019 and ending on 31st march 2020 theboard of directors of the company meet on the following dates on 29th may2019; 04th july2019 ; 14th august2019; 30th august' 2019; 5th october 2019; 14th november2019; 22ndjanuary 2020 and 18th february'2020.

Risk management

The company has a risk management process which provides an integrated approach formanaging the risk in various aspects of the business.

Particulars of loans investments or guarantees under section 186

There were no loans guarantee or investments made by the company under section 186 ofthe companies act 2013 during the year under review and hence the said provision is notapplicable.

Related party transactions under section 188 of companies act 2013

All the transactions were made in the ordinary course of business. The provisions ofsection 188 of the companies act are therefore not attracted.

The disclosure of related party transaction as per as-24 has provided in the notes toaccounts to the financials of the company.

"annexure - vii"

Audit committee under section 177 of companies act 2013

As per the provisions of section 177 of the companies act 2013 the company hasconstituted an audit committee to oversee internal audit and control procedures finalaccounts and reporting process. The committee comprises of three directors.

Nomination and remuneration committee under section 178 of companies act 2013

As per section 178 of the companies act 2013 and rules made there under the existingremuneration committee was renamed as nomination and remuneration committee by the boardof directors which recommend in the board policy relating to remuneration of directorskey managerial personnel and other employees.

Stakeholder relationship committee

In compliance of section 178 of the companies act 2013 rules made there under theexisting shareholders'/investors' grievance committee was renamed as stakeholders'relationship committee by the board of directors to consider and resolve the grievancesof security holders of the company.

Vigil mechanism

The company has a vigil mechanism and whistle blower policy under which the employeesare free to report violations of applicable laws and regulations and the code of conductunder the supervision of audit committee. During the year under review no report relatedto the violation received.

Remuneration policy

The detailed nomination and remuneration policy of the company is posted on the websiteof the company at www.alchemist-corp. Com

Directors' responsibilty statement

Pursuant to section 134(5) of the companies act 2013 the directors hereby confirmthat:

i. In the preparation of the annual accounts the applicable accounting standards hadbeen followed;

Ii. The directors had selected such accounting policies and applied them consistentlyand made judgments and estimates that are reasonable and prudent so as to give a true andfair view of the state of affairs of the company at the end of the financial year and ofthe profit or loss of the company for that period;

Iii. The directors had taken proper and sufficient 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; iv.The directors had prepared the annual accounts on a going concern basis.

V. The directors have laid downinternalfinancialcontrols to be followed by the companyand that such internal financial controls are adequate and were operating effectively.

Vi. The directors have devised proper system to ensure compliance with the provisionsof all applicable laws and that such system were adequate and operating effectively.

Internal control system and their adequacy

The company has an internal control system commensurate with its size scale andcomplexity of its operations. Audit committee reviews internal audit reports and overseesthe internal control system of the company.

Declaration by independent director

The company has received necessary declarations from each independent director undersection 149(7) of the companies act 2013 that they met criteria of independence laid downin section 149(6) of companies act 2013 and the relevant rules.

Details of subsidiary/joint venture/associate companies

During the year under review your company has 1(one) subsidiary. No company became orceases to become subsidiary/joint venture/associate of the company in the year 2019-20.

During the year under review there have been no material changes in the business ofthe subsidiary.

Significant and material orders passed by the regulators or courts or tribunalimpacting the going concern status of the company

/ or material orders passed by the regulators or courts or tribunal impacting the goingconcern status therearenosignificant and company's future.

Corporate social responsilibity (csr)

Pursuant to the provisions of section 135 of the companies act 2013 every companyhaving net worth of rupees five hundred crore or more or turnover of rupees one thousandcrore or more or net profit of rupees five crore or more during any financial year shallconstitute a corporate social responsibility committee of the board and shall formulate acorporate social responsibility policy. Your company is not falling under the preview ofsaid section during the year.

Compliance with secretarial standards

Your company is in compliance of all the applicable secretarial standard. Stockexchange listing: the equity shares of your company are listed at: i. The stock exchangemumbai (bse); ii. The jaipur stock exchange limited; iii. The delhi stock exchange.

Your company has already files delisting application with jaipur stock exchange whichare still in process.

Code of conduct

The company has in place a comprehensive code of conduct (the code) applicable to allthe employees and non-executive directors including independent directors. The code isapplicable to non-executive directors including independent directors to such extent asmay be applicable to them depending on their roles and responsibilities. The code givesguidance and support needed for ethical conduct of business and compliance of law. Thecode has been circulated to directors and management personnel and its compliance isaffirmed by them annually. A declaration signed by the company's directors is published inthis report.

Public deposits

The company has not accepted / invited any public deposits during the period underreview and hence provisions of section 73 of the companies act 2013.

Consolidated financial statements

The consolidated financial statement of the company for the financial year ended2019-20 are prepared in compliance with the applicable provisions of the act accountingstandards and sebi (lodr) regulations 2015. The consolidated financial statement hasbeen prepared on the basis of audited financial statements of the companies as approved bytheir respective board of directors. Pursuant to the provisions of section 136 of the actthe financial statements of the company the consolidated financial statements along withall relevant documents and auditors report thereon form part of this annual report. Thefinancial statements as stated above are also available on the website of the company andcan be accessed at the web link www.alchemist-corp.com

Disclosure as per the sexual harrasment of women at workplace (prevention probhitionand redressal) act 2013

The company has a policy on prohibition prevention and redressal of sexual harassmentof women at workplace and matters connected there with or incidental there to covering allthe aspects as contained under "the sexual harassment of women at workplace(prohibition prevention and redressal) act 2013.

During the financial year 2019-20 no complaint was received under the policy.

Appreciation & acknowledgement:

The board of directors appreciate the valuable co-operation extended by the company'sbankers monitoring agency & other central and state government departments for theircontinued support. Your directors place on record their wholehearted appreciation of yourcompany's employees at all levels. Your directors also acknowledge with gratitude thebacking of its shareholders.

For and on behalf of board of directors
Alchemist corporation limited
Sd/- Sd/-
Sohan lal Meena rastogi
(managing director) (director)
Din : 03322557 Din: 01572002

Date: 26.06.2020 place: new delhi

.