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Bloom Industries Ltd.

BSE: 513422 Sector: Others
NSE: N.A. ISIN Code: INE373E01015
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OPEN 10.15
CLOSE 10.15
VOLUME 2000
52-Week high 14.33
52-Week low 9.22
P/E
Mkt Cap.(Rs cr) 7
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Bloom Industries Ltd. (BLOOMINDUSTRIES) - Director Report

Company director report

To

The Members Bloom Industries Ltd

Your Directors have great pleasure in presenting the 32ND AnnualReport and the Audited Statements of Accounts of the Company for the year ended 31STMarch 2021.

PERFORMANCE OF THE COMPANY

The Company's performance is summarized below:

FINANCIAL RESULTS

Rs. In Lakhs

PARTICULARS 2020-2021 2019-2020
Income from operation 485.52 462.36
Other Income 5.40 9.67
Profit before Depreciation and Exceptional Items (21.17) (21.18)
Less: Depreciation - -
Add/(Less): Exceptional items - -
Profit/ (Loss) before Tax (21.17) (21.18)
Less: Provision for Taxation - -
Profit/ (Loss) after Tax (21.17) (21.18)
Less: Earlier Year Adjustment - -
Net Profit/(Loss) (21.17) (21.18)
Add: Balance of Profit brought forward from previous year 61.76 82.94
Add: Depreciation for change of estimated life of fixed assets - -
Balance Carried to Balance Sheet 40.59 61.76

REVIEW OF OPERATIONS

During the current year under review the total income was Rs 490.92 Lakhs as againstthe income of Rs.472.04 Lakhs of the previous year. The Company incurred net loss of Rs21.17 Lakhs as against net Loss after tax of Rs. 21.18 in the previous year 2019-2020.

DIVIDEND

With a view to conserve funds for the operations of the Company your Directors have notrecommended any Dividend on the Equity Shares for the Financial Year under review.

TRANSFER TO RESERVES

There has been no transfer to reserves in the current Financial Year under review.

EMPLOYEE STOCK OPTION SCHEME

No shares have been issued or allotted under any Employee Stock Option Scheme duringthe FY 2020-21.

ANNUAL RETURN

The copy of Annual Return is available on the Company's Website :www.bloom-industries.com

PUBLIC DEPOSITS

During the year under review the Company has not accepted or renewed any depositsfalling within the purview of provisions of Section 73 of the Companies Act 2013 readwith The Companies (Acceptance of Deposits) Rules 2014. Hence the requirements forfurnishing of details of deposits which are not in compliance with Chapter V of the Act isnot applicable.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Management Discussion and Analysis Report as required under the Securities andExchange Board of India (Listing Obligations and Disclosure Requirements) Regulations2015 (SEBI LODR 2015) is forming part of this Annual Report.

DIRECTORS RESPONSIBILITY STATEMENT

As required under Section 134(3)(c) of the Companies Act 2013 with respect to theDirector's Responsibility Statement it is hereby confirmed:

a. That in preparation of Annual Accounts for the Financial Year ended 31STMarch

2021 the applicable Accounting Standards have been followed along with properexplanation relating to material departures.

b. That 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 state of affairs of the Company at the end of the FinancialYear and of the Profit & 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 the Companies Act 2013for safeguarding the assets of the Company and for preventing and detecting fraud andother irregularities.

d. That the Directors have prepared the Annual Accounts on a going concernbasis.

3 e. The Directors had laid down Internal Financial Control to be followed bythe

Company and that such internal financial control is adequate and was operatingeffectively.

f. The Directors had devised proper systems to ensure compliance with theprovisions of all applicable laws and that such system were adequate and operatingeffectively.

CORPORATE GOVERNANCE

In terms of Regulation 15(2)(a) of SEBI(LODR) Regulations 2015 the compliance withthe Corporate Governance provisions as specified in Regulations 17 17A 18 19 20 2122 23 24 24A 25 26 27 and Clauses (b) to (i) and (t) of sub-regulation (2) ofRegulation 46 and paragraphs C D and E of Schedule V are not applicable to the Company asthe paid up share capital of the Company is less than 10 crores and its Net Worth does notexceed 25 crores as on 31ST March 2021.

ENERGY CONSERVATION TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

The Particulars with respect to energy conservation technology absorption foreignexchange earnings and outgo as required to be disclosed under Section 134(3)(m) of theCompanies Act 2013 read with Rule 8(3) of The Companies (Accounts) Rules 2014 andforming part of the Directors' Report for the year ended 31ST March2021 are as under :

(A) POWER AND FUEL CONSUMPTION

Electricity at factory 2020-21 2019-20
Purchase Unit (KWH) : 0 units 0 units
Total Amount : Rs. 0/- Rs. 0/-
Rate/ Unit : Rs. 0/- Rs. 0/-

(B) CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION

No Research and Development work has been carried out by the Company and thereforethere is no expenditure on this head or any benefit accrued from it.

(C) FOREIGN EXCHANGE EARNINGS AND OUTGO

The Foreign Exchange Earning during the year is Rs. NIL and Outgo Rs. NIL.

DISCLOSURE UNDER SECTION 197(12) OF THE COMPANIES ACT 2013

The Company does not have any employee receiving remuneration exceeding the limitsspecified in Section 197(12) of the Companies Act 2013. Hence the requirements asspecified in Rule 5 of the Companies (Appointment and Remuneration of ManagerialPersonnel) Rules 2014 are not applicable to the Company.

Disclosure pertaining to Remuneration and other details as required under Section197(12) of the Companies Act 2013 read with Rule 5(1) of the Companies (Appointment andRemuneration of Managerial Personnel) Rules 2014 are kept at the Registered Office forinspection 21 days before the date of Annual General Meeting of the Company Pursuant toSection 136 of the Companies Act 2013 and members if any interested in obtaining thedetails thereof shall make specific request to the Compliance Officer of the Company inthis regard.

DIRECTORS AND KEY MANAGERIAL PERSONNEL

In accordance with the provisions of Section 152 of the Companies Act 2013 andArticles of Association of the Company Mr. Akash Gupta (DIN-01326005) Director of theCompany retires by rotation at the ensuing Annual General Meeting and being eligible hasoffered himself for re-appointment.

The Independent Directors of the Company are highly competent educated and qualifiedwith relevant experience and expertise. They contribute in various ways in the growth anddevelopment of the Company.

None of the Independent Directors had any pecuniary relationship or transactions withthe Company during Financial Year 2020-21. None of the Directors or Key ManagerialPersonnel (KMP) of the Company is related inter-se.

The information as required to be disclosed under Regulation 36 of SEBI LODR 2015 incase of reappointment is forming part of Notice.

As per the information available with the Company none of the Directors of the Companyare disqualified for being appointed as a Directors as specified in Section 164(2) of theCompanies Act 2013.

DECLARATION OF INDEPENDENCE

All Independent Directors have given declarations affirming that they meet the criteriaof independence as laid down under Section 149(6) of the Companies Act 2013 andRegulation 16(1)(b) of the SEBI LODR 2015 and there has been no change in thecircumstances which may affect their status as Independent Directors during the year.

POLICY ON DIRECTORS APPOINTMENT AND REMUNERATION

The Company's policy on Directors Appointment and Remuneration including criteria fordetermining qualifications positive attributes independence of a Director and othermatters provided under sub-section (3) of Section 178 of the Companies Act 2013 isavailable on Company's website at the linkhttp://www.bloom-industries.com/investorrelation/corporate policies and code.

SHARE CAPITAL

The paid up Equity Share capital as on 31ST March 2021 was Rs.502.63 Lakhs including Rs.32.03 Lakhs towards forfeited shares. During the year underreview the Company has not issued any shares with differential rights as to DividendVoting or otherwise or Convertible Debentures.

NAMES OF COMPANIES WHICH HAVE BECOME OR CEASED TO BE ITS SUBSIDIARIES JOINT VENTURESOR ASSOCIATE COMPANIES DURING THE YEAR - NIL

BOARD EVALUATION

Pursuant to Section 178(2) of the Companies Act 2013 the Nomination and RemunerationCommittee has carried out evaluation of performance of every Director. The Board hascarried out an Annual performance evaluation of its own performance of the Directorsindividually as well as evaluation of the working of its various Committees. Theperformance evaluation of Independent Directors was carried out by the entire Boardexcluding the Director being evaluated. The performance evaluation of the Chairman andNon-Independent Director was carried out by the Independent Directors at their separateMeeting.

DECLARATION BY INDEPENDENT DIRECTORS :

Necessary declarations have been obtained from all the Independent Directors that theymeet the criteria of independence under sub-section (6) of Section 149 of the CompaniesAct 2013 and as per Regulation 25 read with Regulation 16 of SEBI LODR Regulations. Inthe opinion of the Board there has been no change in the circumstances which may affect inthe status of independent directors of the Company and the Board is satisfied of theintegrity expertise and experience (including proficiency in terms of Section 150(1) ofthe Companies Act 2013 and applicable rules thereunder of all Independent Directors onthe Board. In terms of Section 150 read with Rule 6 of the Companies (Appointment andQualification of Directors) Rules 2014 Independent Directors of the Company haveundertaken requisite steps towards the inclusion of their names in the databank ofIndependent Directors maintained with the Indian Institute of Corporate Affairs.

NUMBER OF MEETINGS OF THE BOARD

The details of the number of Meetings of the Board held during the Financial Year2020-21 is as under:

Name of the Director Number of Board meetings held Number of Board Meetings attended Attended last AGM Shareholding in the Company as of March 31 2021 (No. of Shares)
Mr. Sharad Kumar Gupta 4 4 Yes Nil
Mr. Akash Gupta 4 4 Yes 1025000
Mr. Vikash Gupta 4 4 Yes 1047700
Mrs. Sonuka Gupta 4 2 - NIL
Ms. Anu Gupta 4 2 - NIL
Mr. Srikant Mundhra 4 2 - NIL

COMMITTEES OF THE COMPANY

The details relating to all the Committees constituted by the Company are as follows:

Audit Committee

(a) COMPOSITION:

Audit Committee of the Board of Directors is interested with the responsibility tosupervise the Company's internal financial controls and financial reporting process. TheComposition and quorum are in accordance with Section 177 of the Companies

Act 2013. All Members of the Audit Committee possess financial/accountingexpertise/exposure. The Audit Committee comprised of:

Sr.No. Name Designation
1 Mr. Vikash Gupta Non Executive Non-Independent Director
2. Mrs. Sonuka Gupta Independent Director
3. Mrs Anu Gupta Independent Director-Chairman

MEETINGS AND ATTENDANCE:

The Audit committee met Four (4) times during the Financial Year 2020-21. The Committeemet on 29th June 2020 01st September 2020 13th November 2020 and 13th February 2021.The Necessary quorum was present for all Meetings. The table below provided Attendance ofthe Audit Committee Members.

Sr No. Name of the Director Position Category Meetings Attended
1. Mr. Vikash Gupta Member Non-Executive Non- Independent Director 4
2. Mrs. Sonuka Gupta Member Independent Director 4
3. Mrs. Anu Gupta Member Independent Director 4

(b) TERMS OF REFERENCE:

The terms of reference of the Audit Committee inter alia include the following:

i. The recommendation for appointment remuneration and terms of appointment ofAuditors of the Company.

ii. Review and monitor the Auditors Independence and performance andeffectiveness of Audit process.

iii. Examination of the financial statement and Auditors Report thereon.

iv. Approval or any subsequent modification of transaction of the Company withrelated parties. Provided that the Audit Committee may make Omnibus Approval for relatedparty transactions proposed to be entered into by the Company subject to suchconsultations as may be prescribed.

v. Scrutiny of Corporate Loans and Investments. vi. Valuation ofundertakings or assets of the Company wherever it is necessary. vii. Evaluation ofinternal financial controls and risk management system.

viii. Monitoring the end use of funds raised through public offers and relatedmatters.

ix. Calling for the Comments of the Auditors about internal control system thescope of Audit including the observations of the Auditors and review of

Financial Statements before their submission to the Board and may also discuss anyrelated issues with the Internal and Statutory Auditors and Management of the Company.

x. Authority to investigate into any matter in relation to the item specifiedfrom

(i) to (ix) above or referred to it by the Board.

(c) FUNCTION:

The Audit Committee while reviewing the Annual Financial Statement also review theapplicability of various Accounting Standards (AS) referred to in Section 133 of theCompanies Act 2013. Compliance of the Accounting Standard as applicable to the Companyhas been ensured in the preparation of the Financial Statement for the year ended 31STMarch 2021.

Besides the above Chairman Whole-Time Director Chief Financial Officer Businessheads of the Company divisions and the representatives of the Statutory Auditors arepermanent invitees of the Audit Committee Meetings.

The Audit Committee also oversees and reviews the functioning of Vigil Mechanism(implemented in the Company as a Risk Management Policy and Whistle Blower Policy) andreview the finding of investigation in the cases of material nature and the action takenin respect thereof.

NOMINATION AND REMUNERATION COMMITTEE

(a) COMPOSITION:

The Board of Directors has framed policy which lays down a framework in relation toremuneration of Directors Key Managerial Personnel and Senior Management of the Company.This policy also lays down criteria for selection and appointment of Board Members. TheConstitution of the Nomination and Remuneration Committee:

Sr. No. Name Designation
1 Mr Vikash Gupta Non-Executive Director
2 Mrs. Anu Gupta Independent Director
3 Mrs. Sonuka Gupta Independent Director

(b) MEETING AND ATTENDANCE:

The Nomination and Remuneration Committee met One (1) time during the Financial Year2020-21. The Committee met on 30TH May 2020. The necessary quorum waspresent for all Meetings. The Chairman of the Nomination and Remuneration Committee waspresent at the last Annual General Meeting of the company. The table below providedAttendance of the Audit Committee members.

Sr No. Name of the Director Position Category Meetings Attended
1. Mrs. Anu Gupta Chairman Independent 1
2. Mr. Vikash Gupta Member Non Executive Director 1
3. Mrs. Sonuka Gupta Member Independent 1

(c) TERMS OF REFERENCE:

The Committees composition meets with requirements of Section 178 of the Companies Act2013. The terms of reference of the Committee inter alia includes the following:

1. To identify persons who are qualified to become Directors and who may beappointed in Senior Management in accordance with the criteria let down and to recommendto the Board their appointment and removal and shall carry out evaluation of everyDirectors performance.

2. To formulate the criteria for determining qualifications positive attributesand independence of a Directors and recommend to the Board a Policy relating to theremuneration for the Directors Key Managerial Personnel and other Employees.

3. To ensure that the level and composition of remuneration is reasonable andsufficient to attract retain and motivate Directors of the quality required to run theCompany successfully.

4. To ensure that relationship of remuneration to performance is clear and meetsappropriate performance benchmark.

5. To ensure that remuneration to Directors Key Managerial Personnel and SeniorManagement involves balance between fixed and incentive pay reflecting short term and longterm performance objectives appropriate to the working of the Company and its goals.

6. The Company has updated its Nomination and Remuneration Policy fordetermining remuneration of its Directors Key Managerial Personnel and Senior Managementand other matters provided under Section 178(3) of the Companies Act 2013 and ListingRegulations adopted by the Board. The details of this policy have been posted on thewebsite of the Company at :3www.bloom-industries.com

STAKEHOLDERS RELATIONSHIP COMMITTEE:

(a) COMPOSITION:

The Board has reconstituted Shareholders'/Investors Grievance Committee as StakeholdersRelationship Committee in accordance with the provisions of the Companies Act 2013. TheStakeholders Relationship Committee comprised of:

Sr. No. Name Designation
1 Mrs. Anu Gupta Independent Director-Chairman
2 Mr. Vikash Gupta Non-Executive Director
3 Mrs. Sonuka Gupta Independent Director

3

(b) MEETINGS AND ATTENDANCE:

The Stakeholders Relationship Committee met Four (4) times during the Financial Year2020- 21. The Committee met on 29TH June 2020 01STSeptember 2020 13TH November 2020 & 13TH February2021. The necessary quorum was present for all Meetings.

(c) TERMS OF REFERENCE:

The Company with the assistance of the Registrar and Share Transfer Agent M/s. PurvaShare registry (India) Private Limited attend to all grievances of the Shareholdersreceived directly through SEBI Stock Exchanges Ministry of Corporate Affairs Registrarof Companies etc. The Minutes of the Stakeholders Relationship Committee Meetings arecirculated to the Board and noted by the Board of Directors at the Board Meeting.

Continuous efforts are made to ensure that grievances are more expeditiously redressedto the complete satisfaction of the Investors. Shareholders are requested to furnish theirTelephone Numbers and e-mail address to facilitate prompt action.

DETAILS OF SHAREHOLDERS COMPLAINTS RECEIVED SOLVED AND PENDING SHARE TRANSFERSCOMPLAINTS:

Sr. No. Nature of the complaint Received Replied Pending
1 Non-receipt of shares certificates lodged for transfer 2 2 0
2 Non-receipt of dividend warrants 0 0 0
3 Non-receipt of dividend warrants after revalidation 0 0 0
4 Non-receipt of share certificates lodged for split/ Bonus shares 0 0 0
5 Non Receipt of duplicate shares certificates 0 0 0
6 Letters from SEBI / stock Exchange 0 0 0
7 Letters from Department of Company Affairs / Other Statutory Bodies 0 0 0
Total 2 2 0

During the year nil complaints regarding non-receipt of shares sent for transferDemat queries were received from the shareholders all of which have been resolved. Thecompany had no transfers pending at the close of 31.03.2021.

REQUESTS:

Sr. No. Nature of the Requests Received Replied Pending
1 Receipt of dividend warrants for revalidation 0 0 0
2 Request for mandate correction on Dividend warrants 0 0 0
3 Request for duplicate Dividend warrant 0 0 0
4 Request for copy of Annual Report 0 0 0
5 Request for TDS Certificate 0 0 0
6 Request for exchange of split Share certificate 0 0 0
Total 0 0 0

RISK MANAGEMENT

The Company has laid down the procedures to inform to the Board about Risk assessmentand minimization procedures and the Board has formulated Risk Management policy to ensurethat the Board its Audit Committee should collectively identify risk impacting theCompany's business and document their process of risk identification and riskminimisation as a part of

Risk Management Policy/Strategy. The Risk Management Policy of the Company is availableon Company's website at the linkhttp://www.bloom-industries.com/investorrelation/corporate policies & code.

INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

The Company has an Internal Control System commensurate with the size scale andcomplexity of its operations. Based on the report of Internal Auditors corrective actionis undertaken in the respective areas and thereby strengthens the controls. Significantaudit observations and corrective actions thereon are presented to the Audit Committee ofthe Board.

During the year under review no material or serious observation has been received fromthe Internal Auditors of the Company for inefficiency or inadequacy of such controls.

FIXED DEPOSITS

The Company has not accepted any Fixed Deposits during the year.

CORPORATE SOCIAL RESPONSIBILITY (CSR)

In accordance with the provisions of Section 135 read with Schedule VII of theCompanies Act 2013 the Company is not required to adopt a CSR Policy outlining variousCSR activities to be undertaken by the Company.

BUSINESS RESPONSIBILITY REPORT

The Company is not required to comply with the requirements associated with Regulation34(2)(f) of the Listing Regulations 2015.

AUDITORS AND THEIR REPORTS

a. STATUTORY AUDITOR

M/s. S K Patodia & Associates Chartered Accountants (Firm Registration Number:112723W) who are appointed as the Statutory Auditors of the Company to hold office fromthe conclusion of this Annual General Meeting upto the conclusion of the Annual GeneralMeeting to be held in the Financial Year ended March 31 2025.

The Report given by the Statutory Auditor for the Financial Statements for the yearended 31ST March 2021 read with Explanatory Notes thereon do not callfor any explanation or comments from the Board under Section 134 of the Companies Act2013. b. SECRETARIAL AUDITOR

Pursuant to the provisions of Section 204 of the Companies Act 2013 and the Companies(Appointment and Remuneration of Managerial Personnel) Rules 2014 the Board hasappointed Ms. Nishi Jain (ACS: 22386 COP: 8429) Practising Company Secretaries toconduct Secretarial Audit for the Financial Year 2020-21. The Secretarial Audit Report forthe Financial Year ended 31ST March 2021 is annexed herewith marked as"Annexure B" to this Report. The observations made by the Secretarial Auditor inher report are self –explanatory.

c. INTERNAL AUDITOR

M/s Pawan Shyam Associates Chartered Accountants has been appointed as InternalAuditors for the financial year 2020-21. The Company has adequate system of internalchecks and controls and the functions of Internal Auditor is being looked after by theDirectors.

d. COST AUDITOR

The Company is not required to maintain Cost Audit Records as its turnover is less thanRs. 35 Crore Company not engaged in production of goods or providing services in respectof which any order has been passed by the Central Government under Section 148 of theCompanies Act 2013 read with the Companies (Cost Records and Audit) Rules 2014.

AUDITOR'S REPORT :

The Auditors' Report to the Shareholders does not contain any reservationqualification or adverse remark. During the year under review neither the statutoryauditors nor secretarial auditors have reported to the Audit Committee of the Board underSection 143(12) of the Act any instances of fraud committed against the Company by itsofficers and employees the details of which need to be mentioned in this Report.

BOARD'S RESPONSE ON AUDITORS' QUALIFICATION RESERVATION OR ADVERSE REMARK ORDISCLAIMER MADE

There are no qualifications reservations or adverse remarks made by the StatutoryAuditors in their report or by the Practicing Company Secretary in their Secretarial Auditfor FY 2020-21. During the year there has been no instances of frauds reported byAuditors under Section 143(12) of the Companies Act 2013.

DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION PROHIBITIONAND REDRESSAL) ACT 2013

The Company has a Prevention of Sexual Harassment Policy in line with the requirementsof Sexual Harassment of Women at Workplace (Prevention Prohibition and Redressal) Act2013. During the period under review no complaint was received by the Internal ComplaintCommittee.

VIGIL MECHANISM/ WHISTLE BLOWER POLICY

The Vigil Mechanism of the Company is incorporated under Whistle Blower Policy.Protected Disclosure can be made by a Whistle Blower through an e-mail or to the Chairmanof the Audit Committee. The Policy on Vigil Mechanism and Whistle Blower Policy can beaccessed on the Company's Website at the linkhttp://www.bloom-industries.com/investorrelation/corporate policies&code.

MATERIAL CHANGES AND COMMITMENT IF ANY AFFECTING THE FINANCIAL POSITION OF THE COMPANY

No material changes and commitments affecting the financial position of the Companyhave occurred between the end of the Financial year of the Company to which the FinancialStatement relate and the date of this report.

RELATED PARTY TRANSACTIONS

During the Financial Year 2020-21 your Company has not entered into transactions withRelated Parties as defined under Section 2(76) of the Companies Act 2013 read with TheCompanies (Specifications of Definitions details) Rules 2014. The details of suchtransaction are given in Notes of the Financial Statements forming part of this AnnualReport.

The Company has formulated policy on materiality of related party transactions and alsoon dealing with related party transactions. The policy is available on the Company'swebsite : www.bloom-industries.com. The policy intends to ensure that proper reportingapproval and disclosure processes are in place for all transactions between the Companyand Related Parties.

All Related Party Transactions are placed before the Audit Committee (for approval) aswell as the Board of Directors on a quarterly basis. There has not been any Omnibusapproval for such transactions pursuant to Regulation 23 of the Listing Regulations 2015.

PARTICULARS OF LOANS GIVEN INVESTMENTS MADE GUARANTEE GIVEN AND SECURITIES PROVIDED

The details of Loans and Advances have been given in Notes of the Annual Report. TheCompany has made/provided Investments during the year under report. However the Companyhas not given any Guarantee nor provided any Securities during the year under report.

INTERNAL FINANCIAL CONTROLS

The Board has laid down Internal Financial Control Policy to be followed by the Companyand the policy is available on Company's website at the linkhttp://www.bloom-industries.com/investorrelation/corporate policies& code. The Companyhas in place adequate internal financial controls with reference to financial statements.During the year such controls were reviewed and no reportable material weakness in theoperation was observed.

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS

During the year under review no significant and material orders were passed by theRegulators Securities Exchange Board of India Stock Exchanges Tribunal or Courts.

HUMAN RESOURCES DEVELOPMENT AND INDUSTRIAL RELATIONS

The Company takes pride in the commitment competence and dedication shown by itsemployees in all areas of Business.

The Company is committed to nurturing enhancing and retaining top talent throughsuperior Learning and Organizational Development. This is a part of Corporate HR functionand is a critical pillar to support the Organization's growth and its sustainability inthe long run.

KEY FINANCIAL RATIO

Key Financial Ratios for the financial year ended March 31 2021 are provided in theManagement Discussion and Analysis Report.

AFFIRMATION ON COMPLIANCE OF SECRETARIAL STANDARDS

The company hereby affirms that during the year under review company has complied withall the applicable secretarial standards (including any modifications or amendmentsthereto) issued by the Institute of Company Secretaries of India.

REPORTING OF FRAUDS

There was no instance of fraud during the year under review which required theStatutory Auditors to report to the Audit Committee and / or Board under Section 143(12)of the Act and the rules made thereunder.

GREEN INITIATIVE

Electronic copy of the Integrated Annual Report for FY 2020-21 and the Notice ofensuing AGM is being sent to all shareholders whose email addresses are available in thedemat account and registered with Company's Registrar and Share Transfer Agent.Shareholders holding shares in demat form are requested to update their email addresseswith their Depository Participant(s) and for shareholders holding shares in physical formshould get their email registered/updated with Company's Registrar and Share TransferAgent.

OTHER DISCLOSURES

1. The Company has not entered into any one time settlement proposal with anyBank or financial institution during the year under report.

2. As per available information no application has been filed against theCompany under the Insolvency and Bankruptcy Code 2016 nor any proceedings thereunder ispending as on 31/03/2021.

CAUTIONARY STATEMENT

Statements in the Board's Report and the Management Discussion & Analysisdescribing the Company's objectives expectations or forecasts may be forward-lookingwithin the meaning of applicable securities laws and regulations. Actual results maydiffer materially from those expressed in the statement. Important factors that couldinfluence the Company's operations include global and domestic demand and supply inputcosts availability changes in government regulations tax laws economic developmentswithin the country and other factors such as litigation and industrial relations.

ACKNOWLEDGEMENTS

The Directors have pleasure to place on record their appreciation for the valuableco-operation and assistance by the Company's Bankers Financial Institutions AssociatesInvestors and Employees.

Your Directors are also pleased to record their appreciation for the dedication andcontribution made by employees at all levels who through their competence and hard workhave established Company to achieve better performance and look forward to their supportin future as well.

By Order of the Board of Directors
Place: Rourkela Sd/-
Date: 28/08/2021 Vikash Gupta
Registered Office: Chairman
Plot No. P-25 Civil Township
Rourkela Sundargarh
Odisha – 769004

.