You are here » Home » Companies ยป Company Overview » Kapil Cotex Ltd

Kapil Cotex Ltd.

BSE: 512036 Sector: Industrials
NSE: N.A. ISIN Code: INE393H01016
BSE 00:00 | 07 Feb 36.25 -1.75
(-4.61%)
OPEN

39.90

HIGH

39.90

LOW

36.25

NSE 05:30 | 01 Jan Kapil Cotex Ltd
OPEN 39.90
PREVIOUS CLOSE 38.00
VOLUME 5
52-Week high 63.50
52-Week low 21.40
P/E
Mkt Cap.(Rs cr) 4
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 39.90
CLOSE 38.00
VOLUME 5
52-Week high 63.50
52-Week low 21.40
P/E
Mkt Cap.(Rs cr) 4
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Kapil Cotex Ltd. (KAPILCOTEX) - Director Report

Company director report

To

The Members

Kapil Cotex Limited

The Directors have pleasure in submitting their 39th ANNUAL REPORT alongwith the Audited Balance Sheet and Profit & Loss Account for the year ended 31stMarch 2022

FINANCIAL RESULTS

Current Year ended Current Year ended
31.03.2022 31.03.2021
(Rs.) (Rs.)
Income
Revenue from operations 0 0
Other Income 227187 208019
Total Revenue 227187 208019
Less : Total Expenses 605464 690106
Profit/(Loss) Before Depreciation & Taxation (355071) (482087)
Profit/(Loss) Before Taxation & ExtraOrdinary Items (378276) (482087)
Less: Extra Ordinary Items 0 0
Profit/(Loss) Before Taxation (378276) (482087)
(-) Provision for Taxation 0 0
(i) Current Tax
(ii) Deferred Tax 181 857
(iii) Income Tax Provision earlier year 0 0
Profit/(Loss) for the year (378457) (481230)

OPERATIONAL REVIEW:

Total revenues for the year ended 31st March 2022 is Rs. 227187/- asagainst Rs. 208019/- in the previous year. The net profit/(Loss) of the Company for theyear under review was placed is (Rs. 378457/-) as against Loss (Rs. 481230/-) in theprevious year.

DIVIDEND

In view of loss incurred by the company the directors are not recommending anydividend.

SHARE CAPITAL

The paid-up equity capital as on March 31 2022 was Rs.10400000/-. During the yearunder review the Company has not issued any shares.

MATERIAL CHANGES AND COMMITMENTS

There have not been any material changes and commitments affecting the financialposition of the Company between the end of the financial year of the Company as on March31 2022.

GENERAL

During the financial year 2021-22 your Company has not accepted any deposit within themeaning of Sections 73 and 74 of the Companies Act 2013 and rules made there under.

No significant or material orders were passed by the Regulators or Courts or Tribunalswhich impact the going concern status and Company's operations in future.

The Company has in place policy as per the provisions of the Sexual Harassment of Womenat Workplace (Prevention Prohibition and Redressal) Act 2013. During the year companyhas no women employees during the year.

DIRECTOR & KMP

Mrs. Poonam Rathi (Din No. 01274428) retires by rotation and being eligible offershimself for re-appointment. The Directors recommend Mrs. Poonam Prakashchandra Rathi forre-appointment.

DECLARATION OF INDEPENDENT DIRECTORS

The Independent Directors have submitted their disclosures to the Board that theyfulfill all the requirements as stipulated in Section 149(6) of the Companies Act 2013 soas to qualify themselves to be appointed as Independent Directors under the provisions ofthe Companies Act 2013 and the relevant rules.

Board Evaluation

Pursuant to the provisions of the Companies Act 2013 the Board has carried out anevaluation of its own performance the directors individually as well as the evaluation ofthe working of its Audit

DIRECTOR'S RESPONSIBILITY STATEMENT:

In terms of Section 134 (5) of the Companies Act 2013 the directors would like tostate that:

i) In the preparation of the annual accounts the applicable accounting standards havebeen followed.

ii) The directors have selected such accounting policies and applied them consistentlyand made judgments and estimates that were 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 the year under review.

iii) The directors have taken proper and sufficient care for the maintenance ofadequate accounting records in accordance with the provisions of this Act for safeguardingthe assets of the Company and for preventing and detecting fraud and other irregularities.

iv) The directors have prepared the annual accounts on a going concern basis.

v) The directors had laid down internal financial controls to be followed by thecompany and that such internal financial controls are adequate and were operatingeffectively.

vi) The directors had devised proper system to ensure compliance with the provisions ofall applicable laws and that such system were adequate and operating effectively.

SUBSIDIARY COMPANIES:

The Company does not have any subsidiary.

Meetings

A calendar of Meetings is prepared and circulated in advance to the Directors.

During the year Six Board Meetings were convened and held and the intervening gap

between the Meetings was within the period prescribed under the Companies Act 2013.

SN Date of Meeting
1. 28/06/2021
2. 12/08/2021
3. 03/09/2021
4. 13/11/2021
5. 12/02/2022

RELATED PARTY TRANSACTIONS:

There was no contract or arrangements made with related parties as defined underSection 188 of the Companies Act 2013 during the year under review.

PARTICULARS OF LOANS GUARANTEES OR INVESTMENTS:

The company has not given any loans or guarantees covered under the provisions ofsection 186 of the Companies Act 2013.

The detail of the investments made by company is given in the notes to the financialstatements.

INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY:

The Company has an Internal Control System commensurate with the size scale andcomplexity of its operations. To maintain its objectivity and independence the InternalAudit function reports to the Chairman of the Audit Committee of the Board & to theChairman & Director.

The Accounts Department monitors and evaluates the efficacy and adequacy of internalcontrol system in the Company its compliance with operating systems accountingprocedures and policies.

Based on the report of internal audit function corrective action is taken and therebystrengthen the controls. Significant audit observations and recommendations along withcorrective actions thereon are presented to the Audit Committee of the Board.

NOMINATION AND REMUNERATION COMMITTEE

The Nomination and Remuneration Committee has been constituted as per the section178(1) of the Companies Act 2013.

AUDIT COMMITTEE

The Company's Audit Committee has been constituted as per section 177 of the CompaniesAct 2013. Four meetings of the Audit Committee were held during the financial year2021-22.

STAKEHOLDERS RELATIONSHIP COMMITTEE:

The Company's Stakeholders Relationship Committee has been constituted as per section177 of the Companies Act 2013. Four meetings of the Stakeholders Relationship Committeewere held during the financial year 2021-22.

VIGIL MECHANISM / WHISTLE BLOWER POLICY:

The Company has a vigil mechanism named Fraud and Risk Management Policy to deal withinstance of fraud and mismanagement if any.

In staying true to our values of Strength Performance and Passion and in line with ourvision of being one of the most respected companies in India the Company is committed tothe high standards of Corporate Governance and stakeholder responsibility.

The Company has a Fraud Risk and Management Policy to deal with instances of fraud andmismanagement if any.

The FRM Policy ensures that strict confidentiality is maintained whilst dealing withconcerns and also that no discrimination will be meted out to any person for a genuinelyraised concern.

A high-level Committee has been constituted which looks into the complaints raised. TheCommittee reports to the Audit Committee and the Board.

BUSINESS RISK MANAGEMENT:

Pursuant to section 134 (3) (n) of the Companies Act 2013 the company has constituteda business risk management committee. The details of the committee and its terms ofreference are set out in the corporate governance report forming part of the Boardsreport.

At present the company has not identified any element of risk which may threaten theexistence of the company.

AUDITORS & REPORT THEREON

The Auditor's Report does not contain any qualification reservation or adverse remarkon the financial statements for the year ended March 31 2022. The Notes on financialstatement referred to in the Auditors' Report are self-explanatory and do not call for anyfurther comments.

In accordance with Sec 139 of the Companies Act 2013 shareholders of the Companypropose to appoint M/s. R. K. Somani & Associates Chartered Accountants (ICAI FirmRegistration No. 118666W) as Statutory Auditors of Company for a period of 5 years tohold office until the conclusion of the 44th Annual General Meeting of the Company incalendar year 2027.

INTERNAL AUDITOR

As per section 138 of the Companies Act 2013 the Company has appointed M/s. G SToshniwal & Associates Chartered Accountants internal auditors for the year to20212022 to conduct the internal audit and to ensure adequacy of the internal controlsadherence to Company's policies and ensure statutory and other compliance throughperiodical checks and internal audit.

COST AUDITORS

As per Section 148 read with Companies (Audit & Auditors) Rules applicable to costauditors the company was not liable to appoint Cost auditors for the financial year2021-22.

SECRETARIAL AUDIT:

Pursuant to 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 Nishi Jain a Company Secretary in practice to undertake the SecretarialAudit of the Company. The Secretarial Audit report is annexed herewith

CORPORATE SOCIAL RESPONSIBILITY INITIATIVES

The company does not meet the criteria of Section 135 of Companies Act 2013 read withthe Companies (Corporate Social Responsibility Policy) Rules 2014 so there is norequirement to constitute Corporate Social Responsibility Committee.

CORPORATE GOVERNANCE AND MANAGEMENT DISCUSSION & ANALYSIS REPORTS

SEBI Circular No. SEBI/LAD-NRO/GN/2015-16/013 dated 02nd September 2015 we are underexempted category as the paid-up equity capital of the Company is below Rs.10 Crores andNet worth is below Rs.25 Crores as on the last day of the previous financial year(audited). i.e. 31.03.2022.

EXPLANATION OR COMMENTS ON QUALIFICATIONS RESERVATIONS OR ADVERSE REMARKS ORDISCLAIMERS MADE BY THE AUDITORS AND THE PRACTICING COMPANY SECRETARY IN THEIR REPORTS

A) There were no qualifications reservations or adverse remarks made by the Auditorsin their report.

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

As such there is no woman employee in the Company; an Anti-Sexual Harassment Policy inline with the requirements of The Sexual Harassment of Women at Workplace (PreventionProhibition and Redressal) Act 2013 is not applicable to the Company.

PARTICULARS OF EMPLOYEES

Information as per Section read with rule 5 of the Companies (Appointment andRemuneration of Managerial Personnel) Rules 2014 in respect of employees of the Companyis not applicable.

CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION FOREIGN EXCHANGE EARNING AND OUTGO

Considering the nature of activities of the company the Information relating toconservation of energy technology absorption and foreign exchange earnings and outgo arenot applicable to the Company. However the Company is making all efforts to conserve thesame and the Company's technology being indigenous the question of absorption by theCompany does not arise. Also no foreign exchange were earned or spent.

DETAILS OF FRAUDS REPORTED BY AUDITORS:

During the year under review there were no frauds reported by Statutory Auditors underprovision of section 143(12) of the Companies Act 2013 and rules there under.

ACKNOWLEDGEMENTS:

Your Company and its Directors wish to extend their sincerest thanks to the Members ofthe Company Bankers State Government Local Bodies Customers Suppliers ExecutivesStaff and workers at all levels for their continuous cooperation and assistance.

Place: Mumbai By Order of the Board
DATED:03/09/2022 SD/- SD/-
PRAKASHCHANDRA RATHI POONAM RATHI
Din 01393087 Din. 01274428
Director Director

.