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CCL Products (India) Ltd.

BSE: 519600 Sector: Agri and agri inputs
NSE: CCL ISIN Code: INE421D01022
BSE 00:00 | 25 Sep 255.10 4.25
(1.69%)
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255.00

HIGH

258.90

LOW

253.80

NSE 00:00 | 25 Sep 255.00 4.10
(1.63%)
OPEN

257.70

HIGH

259.45

LOW

253.05

OPEN 255.00
PREVIOUS CLOSE 250.85
VOLUME 1272
52-Week high 293.80
52-Week low 137.25
P/E 19.56
Mkt Cap.(Rs cr) 3,394
Buy Price 254.95
Buy Qty 64.00
Sell Price 256.20
Sell Qty 2.00
OPEN 255.00
CLOSE 250.85
VOLUME 1272
52-Week high 293.80
52-Week low 137.25
P/E 19.56
Mkt Cap.(Rs cr) 3,394
Buy Price 254.95
Buy Qty 64.00
Sell Price 256.20
Sell Qty 2.00

CCL Products (India) Ltd. (CCL) - Director Report

Company director report

Company Performance

Your Directors feel delighted to inform that during the year the SEZ unit of theCompany situated at Kuvvakolli Village Chittoor District in Andhra Pradesh has commencedits commercial operations.

Standalone basis

Financial Results and Performance of your Company for the year ended 31stMarch 2020

(Rs. in Lakhs)
Particulars 2020 2019
Revenue from operations 82265 80913
Profit for the year after meeting all expenses (before Interest Depreciation & Tax) 34067 19891
Less:
Interest 1691 812
Depreciation and other write offs 2543 1221
Provision for Taxation 5940 5315
Net Profit 23893 12543

Turnover of the Company is Rs. 82265 Lakhs and the net profit of the Company isRs.23893 Lakhs. Profit includes dividend received (Rs.13111.84 Lakhs for FY 2019-20 andRs.2930.43 Lakhs for FY 2018-19) from Ngon Coffee Company Limited wholly ownedsubsidiary of the Company.

Consolidated basis

Financial Results and Performance of CCL Group for the year ended 31stMarch 2020

(Rs. in Lakhs)
Particulars 2020 2019
Revenue from operations 113915 108142
Profit for the year after meeting all expenses (before Interest Depreciation & Tax) 29039 24882
Less:
Interest 1796 846
Depreciation and other write offs 4712 3172
Provision for Taxation 5937 5375
Net Profit 16594 15489

Turnover of the Group is Rs.113915 Lakhs and the net profit is Rs.16594 Lakhs.

Transfer of amount to General Reserve

No amount has been transferred to reserves during the year.

Dividend

Your Board of Directors have declared first interim dividend @ Rs.2.00/- per equityshare of Rs.2/- each and second and special interim dividend @ Rs.3.00/- per equity shareof Rs.2/- each for the year 2019-20. The aggregate of both the interim dividends i.e.Rs.5.00/- per equity share be considered as the dividend for the financial year 2019-20.As per 43A of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 theCompany has framed a Dividend Distribution Policy and the same is herewith annexed as‘Annexure I' to this report. The Dividend Distribution Policy is posted on thewebsite of the Company and the web link ishttps://www.cclproducts.com/wp-content/uploads/2019/04/Dividend-Distribution-Policy.pdf

Share Capital

The paid-up Equity Share Capital of the Company as on 31st March 2020stands at Rs.2660.56 Lakhs comprising of 133027920 equity shares of Rs.2 each. Duringthe year under review your Company has neither issued any shares with differential votingrights nor has granted any stock options or sweat equity. The Company has paid listing feefor the financial year 2020-21 to both the stock exchanges where its shares are listed.

Subsidiaries

Jayanti Pte Limited (Singapore)

Jayanti Pte Limited is a wholly owned subsidiary of the Company incorporated inSingapore for the purpose of promoting instant coffee projects in various countries. Thisis only an investment Company hence no operational performance is reported.

Continental Coffee SA (formerly Grandsaugreen SA) (Switzerland)

Continental Coffee SA is a wholly owned subsidiary of the Company incorporated inSwitzerland. This is an agglomeration and packing unit. Operational performance of theCompany in brief is hereunder:

(Rs. in Lakhs)
Particulars 2020 2019
Revenue from operations 13445 3804
Profit for the year after meeting all expenses (before Interest Depreciation & Tax) 504 170
Less:
Interest 3 1
Depreciation and other write offs 100 93
Provision for Taxation 28 30
Net Profit/Loss 373 46

Ngon Coffee Company Limited (Vietnam)

Ngon Coffee Company Limited is a wholly owned subsidiary of the Company incorporated inVietnam. This is an instant coffee manufacturing unit. Operational performance of theCompany in brief is hereunder:

(Rs. in Lakhs)
Particulars 2020 2019
Revenue from operations 26719 26146
Profit for the year after meeting all expenses (before Interest Depreciation & Tax) 7822 8524
Less:
Interest 17 30
Depreciation and other write offs 2001 1824
Provision for Taxation 25 50
Net Profit/Loss 5779 6620

Continental Coffee Private Limited

Continental Coffee Private Limited is a wholly owned subsidiary of the Company whichhas been established with an objective of promoting instant coffee brands of the Companyin the domestic market. Operational performance of the Company in brief is hereunder:

(Rs. in Lakhs)
Particulars 2020 2019
Revenue from operations 7717 4921
Profit for the year after meeting all expenses (before Interest Depreciation & Tax) (190) (572)
Less:
Interest 92 4
Depreciation and other write offs 68 33
Provision for Taxation (1) 1
Net Profit/Loss (349) (610)

CCL Beverages Private Limited

During the year CCL Beverages Private Limited was incorporated and made wholly ownedsubsidiary of your Company to implement agglomeration and packing project at KuvvakolliVillage. However Board of Directors of your Company decided to implement the proposedproject under CCL itself.

The statement containing the salient features of the financial statement ofsubsidiaries as per sub-section (3) of Section 129 of the Companies Act 2013 in FormAOC-1 is herewith annexed as ‘Annexure II' to this report.

COVID-19 and its impact

The impact of COVID-19 on the Company is being closely reviewed with the Management bythe Directors from time to time. Your Company had temporarily suspended operations at itsPlants and locations as per the directives given by the Central and State Government andkeeping in view the safety of work force. After seeking necessary approvals from theGovernment authorities and maintaining social distancing norms and utmost safety ofemployees operations were commenced at the Plants and other locations. Howeverdispatches were affected due to restriction on movement of finished product to the portsfor exports towards the end of the financial year.

Corporate Social Responsibility

The Company as part of its Corporate Social Responsibility (CSR) initiative undertookmany projects like promotion of education in rural areas infrastructure and sanitationdevelopment welfare of girl child facilitating pure drinking water to the identifiedrural areas in and around the factories situated at Guntur District and Chittoor Districtof Andhra Pradesh and also women empowerment and youth skill development programmes inrural areas around Hyderabad.

The Company has a Policy on Corporate Social Responsibility (CSR). The Annual Report onCSR activities as per the Companies (Corporate Social Responsibility Policy) Rules 2014is annexed herewith as ‘Annexure III' to this report. The CSR Policy is posted on thewebsite of the Company and the web link is https://www.cclproducts.com/wp-content/uploads/2019/04/csr-policy.pdf

Further pursuant to the provisions of Section 135 of the Companies Act 2013 yourCompany was required to spend an amount of Rs.319.41 Lakhs towards CSR Activities.

Your management feels proud to mention that for the financial year ended 31stMarch 2020 your Company has spent a total amount of Rs.328.22 Lakhs towards various CSRactivities which was in excess of the mandatorily prescribed limit.

Internal Control Systems & their adequacy

The Board has adopted policies and procedures for ensuring the orderly and efficientconduct of its business including adherence to the Company's policies safeguarding ofits assets prevention and detection of frauds and errors accuracy and completeness ofthe accounting records and timely preparation of reliable financial disclosures.

Statutory Auditors

The Shareholders in their meeting held on 11th July 2017 (56thAGM) appointed M/s. Ramanatham & Rao Chartered Accountants Hyderabad as theStatutory Auditors of the Company to hold office as such till the conclusion of 61stAnnual General Meeting.

The Statutory Auditors shall continue to hold the office as such for the ensuing FY.

Internal Auditors

The Board of Directors based on the recommendation of the Audit Committee havere-appointed M/s. Ramesh & Co. Chartered Accountants Hyderabad as the InternalAuditors of your Company. The Internal Auditors are submitting their reports on quarterlybasis.

Cost Auditors

In accordance with Section 148(3) and other applicable provisions if any of theCompanies Act 2013 and The Companies (Audit and Auditors) Rules 2014 the Audit Committeehas recommended and the Board of Directors had appointed M/s. Kapardi & AssociatesCost Accountants Hyderabad being eligible and having sought re-appointment as CostAuditors of the Company to carry out the audit of the cost records of the productsmanufactured by the Company during the financial year 2020-21 on a remuneration ofRs.175000/-. The remuneration payable to the cost auditor is required to be placedbefore the Members in the general meeting for their ratification. Accordingly aResolution seeking Members ratification for the remuneration payable to M/s. Kapardi &Associates Cost Accountants is included in the Notice convening the Annual GeneralMeeting. The Company is maintaining cost records as specified by the Central Governmentunder Section 148(1) of the Companies Act 2013.

A Certificate from M/s. Kapardi & Associates Cost Accountants has been receivedto the effect that their appointment as Cost Auditor of the Company if made would be inaccordance with the limits specified under Section 141 of the Companies Act 2013 and theRules framed thereunder.

Reporting of Frauds

During the year under review there was no instance of fraud which required theStatutory Auditors to report to the Audit Committee and /or Board under Section 143(12) ofthe Companies Act 2013 and the rules made thereunder.

Secretarial Audit

Pursuant to the provisions of Section 204 of the Companies Act 2013 and The Companies(Appointment and Remuneration of Managerial Personnel) Rules 2014 the Company hasappointed M/s. P.S. Rao & Associates Company Secretaries to undertake the SecretarialAudit of the Company for the FY 2019-20. The Secretarial Audit Report is annexed herewithas ‘Annexure IV' to this report.

Further your Board of Directors would like to inform that the Secretarial Audit Reportdoes not contain any observation or qualification or adverse remark.

Compliance with Secretarial Standards on Board and Annual General Meetings

During the year under review the Company has complied with secretarial standardsissued by the Institute of Company Secretaries of India on Board Meetings and AnnualGeneral Meetings.

Directors & Key Managerial Personnel

The Board of directors of the Company has an optimum combination of ExecutiveNon-Executive and Independent Directors with one woman Independent Director.

Independent and Non-Executive Directors

During the year Shareholders approved the appointment of Mr. Kosaraju VeerayyaChowdary IRS (Retd.) as an Independent Director of the Company for a period of five yearscommencing on 25th June 2019.

In accordance with the provisions of Section 152 of the Companies Act 2013 Dr. LankaKrishnanand NonExecutive Director of the Company retire by rotation and being eligiblehas offered himself for re-appointment.

Mr. Venkata Krishna Rau Gogineni was appointed to the office of Independent Directorfor a term of 5 years in the 54th Annual General Meeting of the Company tillthe conclusion of 59th Annual General Meeting. Based on the recommendation ofNomination and Remuneration Committee the Board of Directors considered his appointmentas Independent Director of the Company for another term of five consecutive yearscommencing on 22nd October 2019 subject to approval of shareholders.Accordingly resolution seeking approval of Shareholders for his appointment to the officeof Independent Director forms part of the Notice convening the AGM.

In the opinion of the Board all the Independent Directors of the Company possessintegrity expertise and the proficiency justifying their office.

All the Independent Directors have given declarations stating that they meet thecriteria of independence as per the provisions of Section 149 of the Companies Act 2013and SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.

Whole Time Directors

Based on the recommendation of Nomination and Remuneration Committee Mr. ChallaRajendra Prasad was re-appointed as Executive Chairman of the Company upto 31stMarch 2022 by the Board of Directors of the Company in their meeting held on 27thJanuary 2020 with immediate effect subject to approval of shareholders in the AnnualGeneral Meeting. Accordingly resolution seeking approval of Shareholders for hisappointment forms part of the Notice convening the AGM.

In accordance with the provisions of Section 152 of the Companies Act 2013 Mr. B.Mohan Krishna Executive Director of the Company retire by rotation and being eligiblehas offered himself for re-appointment.

Other Key Managerial Personnel

There are no changes in any other office of Key Managerial Personnel during the year.

Meetings of the Board

Six meetings of the Board of Directors were held during the year. The details of theBoard and Committee meetings and Independent Directors' meeting are given in the CorporateGovernance Report which form part of this Annual Report.

The Company also adopted Governance Guidelines on Board Effectiveness which comprisesthe aspects relating to Composition of Board and Committees Terms of DirectorsNomination Appointment Development of Directors Code of Conduct Effectiveness of Boardand Committees review and their mandates.

Audit Committee

The Board has constituted Audit Committee as per the provisions of Section 177 of theCompanies Act 2013 and SEBI (Listing Obligations and Disclosure Requirements)Regulations 2015. The composition attendance powers and role of the Audit Committee areincluded in Corporate Governance Report. All the recommendation made by the AuditCommittee were accepted by the Board of Directors.

Policy on Director's Appointment and Remuneration and other matters

(a) Procedure for Nomination and Appointment of Directors:

The Nomination and Remuneration Committee has been formed in compliance with Regulation19 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 andpursuant to Section 178 of the Companies Act 2013. The main object of this Committee isto identify persons who are qualified to become directors and who may be appointed insenior management of the Company recommend to the Board their appointment/removal andshall carry out evaluation of every Director's performance recommend the remunerationpackage of both the Executive and the Non-Executive Directors on the Board and also theremuneration of Senior Management one level below the Board. The Committee reviews theremuneration package payable to Executive Director(s) and recommends to the Board the sameand acts in terms of reference of the Board from time to time.

On the recommendation of the Nomination and Remuneration Committee the Board hasadopted and framed a Remuneration Policy for the Directors Key Managerial Personnel andother Employees pursuant to the provisions of the Companies Act 2013 and SEBI ListingRegulations.

The remuneration determined for Executive/Non-Executive Directors is subject to therecommendation of the Nomination and Remuneration Committee and approval of the Board ofDirectors. The Non-Executive Directors are compensated by way of profit sharing Commissionand the Non-Executive Directors are entitled to sitting fees for the Board/CommitteeMeetings. The remuneration paid to Directors Key Managerial Personnel and all otheremployees is in accordance with the Remuneration Policy of the Company.

Neither the Managing Director nor any Whole Time Director of the Company received anyremuneration or commission from any of its Subsidiaries.

Brief terms of Nomination and Remuneration Policy and other matters provided in Section178(3) of the Act and Regulation 19 of SEBI Listing Regulations have been disclosed in theCorporate Governance Report which forms part of this Report.

(b) Familiarisation/Orientation program for Independent Directors: A formalfamiliarization programme was conducted about the amendments in the Companies Act Rulesprescribed thereunder SEBI (Listing Obligations and Disclosure Requirements) Regulations2015 and all other applicable laws to the Company.

It is the general practice of the Company to notify the changes in all the applicablelaws from time to time in Board Meetings conducted.

The details of such familiarization programmes for Independent Directors are posted onthe website of the Company and web link ishttps://www.cclproducts.com/wp-content/uploads/2019/04/familiarization-programme-for-independentdirectors.pdf

Annual Evaluation of Board Performance and Performance of its Committees and ofDirectors

Pursuant to the provisions of the Companies Act 2013 and SEBI (Listing Obligations andDisclosure Requirements) Regulations 2015 the Board has carried out the annualperformance evaluation of its own performance the Directors individually as well as theevaluation of the working of its Audit Nomination and Remuneration and all otherCommittees.

A structured questionnaire was prepared after taking into consideration inputs receivedfrom the Directors covering various aspects of the Board's functioning such as adequacyof the composition of the Board and its Committees Board culture execution andperformance of specific duties obligations and governance.

A separate exercise was carried out to evaluate the performance of individual Directorsincluding the Chairman of the Board who were evaluated on parameters such as level ofengagement and contribution independence of judgment safeguarding the interest of theCompany and its minority shareholders etc. The performance evaluation of the IndependentDirectors was carried out by the entire Board. The performance evaluation of the Chairmanand the Non Independent Directors was carried out by the Independent Directors who alsoreviewed the performance of the Secretarial Department. The Directors expressed theirsatisfaction with the evaluation process.

Particulars of Loans Guarantees and Investments

Details of Loans Guarantees and Investments covered under the provisions of Section186 of the Companies Act 2013 are given in the notes to the Financial Statements.

Fixed Deposits

Your Company has neither accepted nor renewed any fixed deposits from the public withinthe meaning of Section 73 of the Companies Act 2013 and the Companies (Acceptance ofDeposits) Rules 2014 and as such no principal or interest was outstanding as on the dateof the Balance sheet.

Capex

Your Company has spent the following amounts towards capex during this financial year:

1. At Duggirala plant - for civil works and line balancing of Plant & MachineryRs.21.98 crores

2. At SEZ in Kuvvakolli Chittoor District for establishment of Freeze dried coffeeplant Rs.23.03 crores

Directors' Responsibility Statement

Pursuant to Section 134 (5) of the Companies Act 2013 your Directors confirm that tothe best of their knowledge and belief and according to the information and explanationobtained by them

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

ii) Such accounting policies as mentioned in the notes to the financial statements havebeen selected and applied consistently and judgments and estimates that are reasonable andprudent made so as to give a true and fair view of the state of affairs of the Company atthe end of the financial year 2019-20 and of the profit or loss of the Company for thatperiod;

iii) Proper and sufficient care has been taken for the maintenance of adequateaccounting records in accordance with the provisions of the Companies Act 2013 forsafeguarding the assets of the Company and for preventing and detecting fraud and otherirregularities;

iv) The annual accounts for the year 2019-20 have been prepared on a going concernbasis.

v) That proper internal financial controls were in place and that the financialcontrols were adequate and were operating effectively.

vi) That systems to ensure compliance with the provisions of all applicable laws werein place and were adequate and operating effectively.

Vigil Mechanism/Whistle Blower Policy

The Company has a Whistle Blower Policy framed to deal with instance of fraud andmismanagement if any in the Group. The Policy provides for adequate safeguards againstvictimization of employees who avail the mechanism and also provides for direct access tothe Chairman of the Audit Committee. The details of the Policy are explained in theCorporate Governance Report and also posted on the website of the Company and the web linkis https://www.cclproducts.com/wp-content/uploads/2019/04/whistle-blower-policv.pdf

Risk Management

The Company has constituted a Risk Management Committee and formulated a policy on theRisk Management in accordance with the Companies Act 2013 and Regulation 21 of SEBI(Listing Obligations and Disclosure Requirements) Regulations 2015. The details ofCommittee and its terms of reference are set out in the Corporate Governance Reportforming part of the Board's Report. The Risk Management Policy of the Company is posted onthe website of the Company and the web link is https://www.cclproducts.com/wp-content/uploads/2019/04/risk-management-policy.pdf

Related Party Transactions and particulars of contracts or arrangements with relatedparties

All the related party transactions that were entered into during the financial yearwere on an arm's length basis and were in the ordinary course of business. There are nomaterially significant related party transactions made by the Company with PromotersDirectors Key Managerial Personnel or other designated persons which may have a potentialconflict with the interest of the Company at large.

All the related party transactions are placed before the Audit Committee also andbefore the Board for approval. Prior omnibus approval of the Audit Committee is obtainedas per SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 for thetransactions which are of foreseen and repetitive nature. The Company has developed aPolicy on Related Party Transactions for the purpose of identification and monitoring ofsuch transactions.

None of the transactions with related parties falls under the scope of section 188(1)of the Companies Act 2013. Particulars of contracts or arrangements with related partiespursuant to section 134(3)(h) of the Act read with rule 8(2) of the Companies (Accounts)Rules 2014 are provided in ‘Annexure V' in Form AOC-2 and forms part of this report.

The policy on Related Party Transactions as approved by the Board is uploaded on thewebsite of the Company and the web link ishttps://www.cclproducts.com/wp-content/uploads/2019/04/policv-on-related-party-transactions.pdf

Disclosure under Regulation 34(3) read with Schedule V of the Listing RegulationsRelated Party disclosure as per Schedule V of the Listing Regulations

S.No In the accounts of Particulars Amount at the year ended 2019-20 Maximum amount outstanding during the year 2019-20
1 CCL Products (India) Limited (Holding Company) (i) Loans/advances to subsidiaries Continental Coffee Private Limited (Wholly owned subsidiary) Rs.22.08 Crores (including interest) Rs.22.08 Crores (including interest)
(ii) Loans/advances to associates NA NA
(iii) Loans/advances to firms/ companies in which Directors are interested Nil Nil
2 CCL Products (India) Limited (Holding Company) Investment by the Loanee in the shares of parent company/ subsidiary company when the company has made a loan or advance NA NA

Policy on Material Subsidiaries

The Policy on Material Subsidiaries as per SEBI (Listing Obligations and DisclosureRequirements) Regulations 2015 as approved by the Board is uploaded on the website of theCompany and the web link is https://www.cclproducts.com/wp-content/uploads/2019/04/policy-on-material-subsidiary.pdf

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 an extract of Annual Return in form MGT 9 isannexed herewith as ‘Annexure VI' to this report and the same is uploaded on thewebsite of the Company and the weblink is www.cclproducts.com .

Management Discussion & Analysis

Pursuant to the provisions of Regulation 34(2) of SEBI (Listing Obligations andDisclosure Requirements) Regulations 2015 a report on Management Discussion &Analysis is herewith annexed as "Annexure VII" to this report.

Change in the nature of business

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

Transfer of amounts to Investor Education and Protection Fund

Pursuant to the provisions of Section 124 (5) of the Companies Act 2013 an amount ofRs.338825/- pertaining to financial year 2011-12 which remained unclaimed for a periodof seven years has been transferred by the Company to the Investor Education andProtection Fund established by the Central Government during the financial year 2019-20.

Transfer of unclaimed shares to Investor Education and Protection Fund

Pursuant to the provisions of Section 124 of the Companies Act 2013 all shares inrespect of which dividend has not been paid or claimed for seven consecutive years or moreupto and including the financial year 2011-12 were transferred by the Company in the nameof Investor Education and Protection Fund during the financial year 2019-20 and thestatement containing such details as may be prescribed is placed on the website of theCompany.

Particulars of Employees

The information required pursuant to Section 197 of the Companies Act read with Rule 5of the Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014 inrespect of employees of the Company is annexed herewith as "Annexure VIII" tothis report.

Business Responsibility Report

A Business Responsibility Report as per Regulation 34 of the Listing Regulationsdetailing various initiatives taken by the Company on the environmental social andgovernance front forms an integral part of this Annual Report.

Corporate Governance

The Company has been making every endeavor to bring more transparency in the conduct ofits business. As per the requirements of Regulation 34 (3) of SEBI (Listing Obligationsand Disclosure Requirements) Regulations 2015 a report on Corporate Governance for theyear 2019-20 along with Certificate from P.S. Rao & Associates Company Secretariesare annexed herewith forming part of this Annual Report.

Human Resources

Your Company considers its Human Resources as the key to achieve its objectives.Keeping this in view your Company takes utmost care to attract and retain qualityemployees. The employees are sufficiently empowered and conducive work environment propelsthem to achieve higher levels of performance. The unflinching commitment of the employeesis the driving force behind the Company's vision. Your Company appreciates the spirit ofits dedicated employees.

Policy on Prevention Prohibition and Redressal of Sexual Harassment at Work place:

Your Company strongly supports the rights of all its employees to work in anenvironment free from all forms of harassment. The Company has adopted a Policy onPrevention Prohibition and Redressal of Sexual Harassment at workplace as per theprovisions of the Sexual Harassment of Women at Workplace (Prevention Prohibition andRedressal) Act 2013 and the Rules made thereunder. The policy aims to provide protectionto Employees at the workplace and prevent and redress complaints of sexual harassment andfor matters connected or incidental thereto with the objective of providing a safeworking environment where Employees feel secure. The Company has also constituted anInternal Committee known as Anti Sexual Harassment Committee to address the concerns andcomplaints of sexual harassment and to recommend appropriate action.

The Company has not received any complaint on sexual harassment during the year.

Energy conservation technology absorption and foreign exchange earnings and outgo

The information on conservation of energy technology absorption and foreign exchangeearnings and outgo stipulated under Section 134(3)(m) of the Companies Act 2013 read withRule 8 of The Companies (Accounts) Rules 2014 is annexed herewith as ‘Annexure IX'to this report.

Significant and material orders passed by the regulators or courts

There are no significant or material orders passed by the Regulators/Courts which wouldimpact the going concern status of the Company and its future operations.

Material Changes and Commitments

There were no material changes and commitments affecting the financial position of theCompany that have occurred between the end of the Financial Year 2019-20 and the date ofthe report.

Green initiative in Corporate Governance

The Ministry of Corporate Affairs (MCA) has undertaken green initiative in CorporateGovernance by allowing paperless compliances by the Companies and permitted the service ofAnnual Reports and documents to the shareholders through electronic mode subject tocertain conditions and the Company continues to send Annual Reports and othercommunications in electronic mode to the members who have registered their email addresseswith the Company/RTA.

Acknowledgments

Your Directors take this opportunity to express their sincere appreciation to theshareholders customers bankers suppliers and other business associates for theexcellent support and cooperation extended by them.

Your Directors gratefully acknowledge the ongoing co-operation and support provided bythe Central and State Governments Stock Exchanges SEBI RBI and other Regulatory Bodies.

For and on behalf of the Board
CCL Products (India) Limited
Sd/-
Place: Hyderabad Challa Rajendra Prasad
Date: 15th June 2020 Executive Chairman
DIN : 00702292

   

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