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KMS Medisurgi Ltd.

BSE: 540468 Sector: Others
NSE: N.A. ISIN Code: INE870V01014
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NSE 05:30 | 01 Jan KMS Medisurgi Ltd
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P/E 92.16
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OPEN 34.10
CLOSE 34.10
VOLUME 4000
52-Week high 36.00
52-Week low 33.50
P/E 92.16
Mkt Cap.(Rs cr) 11
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

KMS Medisurgi Ltd. (KMSMEDISURGI) - Director Report

Company director report

To

The Members

KMS MEDISURGI LIMITED

Your Directors have pleasure in presenting their 22nd Annual Report on thebusiness and operation of the company and the accounts for the financial year ended 31stMarch2020.

1. FINANCIAL RESULTS

The working results of the company for the year ended are as follows:

Sr. Particulars 31.03.2020 31.03.2019
No.
(Rs.) (Rs.)
1. Revenue from operations 103441044 98569731
2. Other Income (32034) (4209647)
3. Total Revenue 103409010 102779378
4. Less: Expenses 101585234 100710131
5. Profit beforeTax 1823776 2069247
6. Provision for Tax 700000 837000
9. Profit afterTax 1123776 1232247

2. FINANCIAL HIGHLIGHTS

During the financial year ended 31st March 2020 the total revenue was Rs103409010 /- as against Rs.102779378 in the previous year. For March 312020Company's Net Profit after tax was Rs. 1123776/- as against Rs. 1232247-/- in theprevious year.

3. TRANSFER TO RESERVES

The Company has transferred Rs. 1123776/- to Reserve & Surplus and the same is incompliance with the applicable provisions prescribed under the Companies Act 2013.

4. CAPITAL STRUCTURE

The Authorized Share Capital of the Company is Rs 35000000/- (Rupees Three CroresFifty Lakhs) divided into 3500000 (Thirty- F ive Lakhs ) Equity shares ofRs 10/- each.

The Paid- up Share Capital is Rs. 33000000/- (Rupees Three Crores Thirty lakhs only)divided into 3300000 Equity shares of Rs. 10/- each fully paid- up.

5. DIVIDEND

Your Directors are pleased to recommend a Dividend of 0.5% i.e. Re. 0.05 Per EquityShare of face value of Re. 10/- each fully paid up aggregating to Rs. 165000/- for theyear ended 31st March 2020 subject to the approval of Members at the AnnualGeneral Meeting on 30th September 2020.

6. DEPOSIT

During the year under review your company has not accepted any deposits from the publicand therefore no information is required to be furnished in respect ofoutstandingdeposits.

7. CHANGES IN NATURE OF BUSINESS

There is no significant change made in the nature of the company during the financialyear.

8. NAME OFTHECOMPANIESWHICH HAVE BECOME ORCEASED TO BE SUBSIDIARIES JOINT VENTURES ORASSOCIATE COMPANIES

At the end of the financial year under review none of the Company have become or ceasedto be subsidiaries joint ventures or associate companies.

9. RISK MANAGEMENT AND INTERNAL CONTROL SYSTEM

The Company has established a well-defined process of risk management wherein theidentification analysis and assessment of the various risks measuring of the probableimpact of such risks formulation of risk mitigation strategy and implementation of thesame takes place in a structured manner. Though the various risks associated with thebusiness cannot be eliminated completely all efforts are made to minimize the impact ofsuch risks on the operations of the Company. The Company on various activities also putsnecessary internal control systems in place across the board to ensure that businessoperations are directed towards attaining the stated organizational objectives withoptimum utilization of the resources.

10. RELATED PARTYTRANSACTIONS

All related party transactions that were entered into during the financial year were onan arm's length basis and were in the ordinary course of business.

Particulars of contract or arrangements with related parties is annexed herewith inForm AOC 2 as "Annexure - A"

11. SIGNIFICANTAND MATERIAL ORDERS PASSED BY REGULATORS OR COURTS

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

12. PARTICULARS OF LOANS GUARANTEES ORINVESTMENTS

The company has not given any loans or guarantees or investments covered under theprovisions of Section 186 ofthe Companies Act 2013 during the F inancial Year2019-20.

13. DIRECTORS

Retire by Rotation- Siddharth Gaurang Kanakia

In accordance with the provisions of the Companies Act 2013 and Articles ofAssociation of the Company Ms Siddharth Gaurang Kanakia Director (DIN: 07595098) of thecompany is liable to retire by rotation in the 22nd Annual General Meeting andbeing eligible she offer herself for re- appointment.

Appointment & Resignation:

Mr. Pratik Pravin Tarpara appointed as an additional Director w.e.f. 12th February2020.

14. KEY MANAGERIALPERSONNEL

Pursuant to the Section 2(51) and provisions of Section 203 of the Companies Act 2013read with Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014the Key Managerial Personnel (KMP) of the Company as on 31st March 2020 are as follows:

• Mr. Gaurang Prataprai Kanakia (DIN: 0346180) Managing Director ofthe Company.

• Mr. Anand Prataprai Kanakia Chief F inancial Officer (CF O) ofthe Company.

a. Declaration by Independent Directors:

All the Directors of the Company have confirmed that they are not disqualified frombeing appointed as Director in terms of Section 164 (2) of the Companies Act 2013.

All Independent Directors have given declarations that they meet the criteria ofindependence as laid down under Section 149 (6) of the Companies Act 2013 and as perSecurities and Exchange Board of India (Listing Obligations and Disclosure Requirements)Regulations 2015.

At the time of appointment of an Independent Director the Company issued a formalletter of appointment outlining his / her role function duties and responsibilities as adirector. The formal letter of appointment is hosted on the website of the Company.

b. Familiarization programme for Independent Director:

The Company proactively keeps its Directors informed of the activities of the Companyit's Management and operations and provides an overall industry perspective as well asissues being faced by the industry.

15. COMPOSITION OF BOARD

The Board of Directors of KMS Medisurgi Limited is a balanced composition and optimummix of executive and Non-Executive Directors. They show active participation at the Boardwhich enhances the transparency and adds value to their decision making. The board of theCompany is headed by an executive Chairman and a Managing Director.

The chairman takes the strategic decisions frames the policy guidelines and extendswholehearted support to Executive Directors Business Heads and associates.

As at 31st March 2020 the Directors and Key Managerial Personnel of the Companyconsisted of the following:

Sr. No Particulars DIN/PAN Designation
1. Mr. Gaurang Prataprai Kanakia 00346180 Promoter Chairman and Managing Director
2. Mr. Anand Prataprai Kanakia AGQPK7415F Promoter and Chief Financial Officer
3. Mr. Rekha Devang Kanakia 00346198 Promoter and Woman Non-Executive Director
4. Mr. Hardik Rajnikant Bhatt 07566870 Non- executive Independent Director
5. Mr. Kamlesh Rajani Chunilal 07588417 Non-Executive Independent Director
6. Mrs. Siddharth Gaurang Kanakia 07595098 Non-Executive Director
7. Ms. Swati Shah BJGPS5133L Company Secretary & Compliance officer (Expired on 9th July 2019)
8. Mr. Pratik Pravin Tarpara 08689556 Non-Executive Independent Director
9. Akriti Pathak FJTPP4587A Company Secretary & Compliance officer Resigned on Dec 5 2019
10 Avni Barai BVGPB4636R Company Secretary & Compliance officer Resigned on Feb 21 2020

16. BOARD EVALUATION

In compliance with the provisions of the Companies Act 2013 and other provisions ifany the Board has carried out an annual performance evaluation of its own performancethe directors individually as well as the evaluation of the working of its Nomination& Remuneration Committee and Shareholder's Grievance Committee. The manner in whichthe evaluation has been carried out has been explained in the Corporate Governance Report.

17. MEETING OF BOARD OF DIRECTORS

A) Number of Board Meetings in the year (2019-20)

During the year eleven meetings of the Board of Director's were held. Detail is asbelow:

Sr. No DateofMeetings
1. 11.04.2019
2. 03.05.2019
3. 30-05-2019
4. 13.08.2019
5. 28.09.2019
6. 14.11.2019
7. 12.12.2019
9. 28.12.2019
10. 12.02.2020

B) Attendance of Directors at Board meetings held during the year:

Sr. No. Name of Director CategoryofDirector No. of Board Meetings attended Attendance at the last AGM
1 Gaurang Prataprai Kanakia (DIN: 00346180) Chairman and Managing Director 10 Yes
2 Rekha Devang Kanakia (DIN: 00346198) Woman Non- Executive Director 10 Yes
3 Mr. Pratik Pravin Tarpara (DIN 08689556) Non-Executive Independent Director 0 NO
4 Hardik Rajnikant Bhatt (DIN: 07566870) Independent Director 10 Yes
5 Kamlesh Chunilal Rajani (DIN: 07588417) Independent Director 10 Yes
6 Anand Prataprai Kanakia CFO(KMP) 10 Yes
7 Siddharth Gaurang Kanakia (DIN: 07595098) Non-Executive Non Independent Director 10 Yes

18. MEETING OFMEMBERS

During the year 21st Annual General Meeting of the Company was held on 30THSeptember 2019.

19. COMMITTEES

There are three Committees constituted as per Companies Act 2013. They are:

A. Audit Committee

B. Nomination & Remuneration Committee

C. Shareholders & Investor's Grievance Committee

The Composition of the committees and relative compliances are in line with theapplicable provisions of the Companies Act 2013 read with Rules and Listing Regulations.Details of term of reference of the Committees Committees" Membership and attendanceat Meetings of the Committees are provided as follows:

A. Audit Committee

The Company has constituted an Audit Committee in accordance with Section 177(1) of theCompanies Act 2013. During the financial year 2019-2020 three meeting of the AuditCommittee were held on 30-05-2019 05-09-2019 14-11-2019 the details ofthe composition ofthe committee and attendance at its meeting are set out in the following table:

1. Attendance of Directors in Audit Committee Meeting:

Sr. No. Name Designation Positionin committee No. of Meetings Attended
1 Hardik Rajnikant Bhatt (DIN: 07566870) Independent Director Chairman 3
2 Kamlesh Chunilal Rajani (DIN: 07588417) Independent Director Member 3
3 Siddharth Gaurang Kanakia (DIN: 07595098) Non-Executive Non Independent Director Member 3

All the members of the Audit Committee are financially literate and have relevantaccounting financial management expertise as required under the companies Act 2013 andRegulation 18 of the listing Regulations.

The primary objective of the Committee is to monitor and provide an effectivesupervision of the Management's financial reporting process to ensure accurate and timelydisclosures with the highest level of transparency integrity and quality of financialreporting and its Compliances with the legal and regulatory requirements. The committeeoversees the work carried out in the financial reporting process by the Management and theStatutory Auditors and note the process and safeguards employed by each of them.

Term of reference:

The term of reference role powers rights authority and obligations of the AuditCommittee are in conformity with the applicable provisions of the Companies Act 2013 andListing Obligation Requirements (including any statutory modification(s) or re-enactmentor amendment thereof.

B. Nomination & Remuneration Committee

The Company has constituted Nomination & Remuneration Committee in accordance withSection 178 of the Companies Act 2013. During the financial year 2019-2020 two meetingsof the Nomination & Remuneration Committee was held on 28-092019 and 12-02-2020 thedetails of the composition of the committee and attendance at its meeting are set out inthe following table:

1. Attendance of Directors in Nomination & Remuneration Committee Meeting:

Sr. No. Name Designation Positionin committee No. of Meetings Attended
1 Kamlesh Chunilal Rajani (DIN: 07588417) Independent Director Chairman 2
2 Rekha Devang Kanakia (DIN: 00346198) Non-Executive Non Independent Director Member 2
3 Hardik Rajnikant Bhatt (DIN:07566870) Independent Director Member 2

The Company has duly formulated and has in place the Nomination and remuneration Policyfor appointment and remuneration of Directors Key Managerial Personnel and Employees ofthe Company and as required under section 134 the same is available at the Company websitewww.kmsgroup.in

The policy formulated by Nomination and Remuneration Committee includes Director'sappointment and remuneration including qualifications positive attributes independenceof a director and other matters as specified under section 178(3) of the Companies act2013 and same was approved by the Board of Directors of the Company. All statutorilypolicies of the Company are available on the website of the Company for investor'sreference.

C. Stakeholder's Relationship Committee

The Company has constituted Stakeholder's Relationship Committee in accordance withSection 178 of the Companies Act 2013 mainly to focus on the redressal of shareholders'Investors Grievance if any like Transfer/Transmission/Demat of shares Loss ofCertificates; Non-Receipt of Annual Report; Dividend Warrants etc.. During the financialyear 2019-2020 five meetings of the Stakeholder's Relationship Committee were held on30-05-2019 13-08-2019 05-09-2019 14-11-2019 12-02-2020 the details of the compositionof the committee and attendance at its meeting are set out in the following table:

1. Attendance of Directors in Stakeholder's Relationship Committee Meeting:

Sr. No. Name Designation Positionin committee No. of Meetings Attended
1 Kamlesh Chunilal Rajani (DIN:07588417) Independent Director Chairman 5
2 Hardik Rajnikant Bhatt (DIN:07566870) Independent Director Member 5
3 GaurangPrataprai Kanakia(DIN: 00346180) Managing Director Member 5

Details cf Shareholders" Complaints Received Solved and Pending as on March312020

The Company expresses satisfaction with the Company's performance in dealing withinvestor grievance.The Company has not received any complaints during the year underreview. Hence there were no complaints outstanding as on March 31 2020.

D. Independent DirectorMeeting

All Independent Directors have given declarations that they meet the criteria ofindependence as laid down under Section 149(6) ofthe Companies Act 2013.

1. During the year 1meeting was held detail is as follows:

Sr. No DateofMeetings
1. 22-02-2020

2. Attendance of Directors in Independent Director Meeting is as follows:

Sr. No. Name Designation Position in committee No. of Meetings Attended
1 Kamlesh Chunilal Rajani (DIN: 07588417) Independent Director Chairman 1
2 Hardik Rajnikant Bhatt (DIN: 07566870) Independent Director Member 1
3 Mr. Pratik Pravin Tarpara (DIN 08689556) Independent Director Member 1

20. MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANYWHICH HAVE OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR OF THE COMPANY TO WHICH THEFINANCIAL STATEMENTS RELATE AND THE DATE OF THEREPORT

There have been no material changes and commitments affecting the financial position ofthe Company which have occurred between the ends of the financial year of the Company towhichthe financial statements relate and the date ofthe report.

21. CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION FOREIGN EXCHANGE EARNING AND OUTGO

As the Company is not covered in the list of industries required to furnish informationin F orm "A" relating to Conservation of Energy the same is not given. Eventhough its operations are not energy intensive significant measures are taken to reduceenergy consumption by using energy effect equipment. The Company regularly reviews powerconsumption and thereby achieves cost savings.

22. EXTRACT OF ANNUAL RETURN

The details forming part of the extract of the Annual Return in form MGT-9 is annexedherewith as "Annexure - B".

23. DIRECTORS' RESPONSIBILITYSTATEMENT

i. To the best oftheir knowledge and belief and according to the information andexplanation obtained by them your Directors make the following statements in terms of theSection 134(3) (c) ofthe Companies Act 2013.

ii. That in the preparation of the annual financial statements for the year ended March312020 the applicable accounting standards have been followed along with properexplanation relating to material departures if any;

iii. That such accounting policies as mentioned in the Financial Statements as‘Significant Accounting Policies' have been selected and applied consistently andjudgments and estimates have been made that are reasonable and prudent so as to give atrue and fair view of the state of affairs of the company as at March 31 2020 and of theprofit of the Company for the year ended on that date;

iv. That 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;

v. That the annual financial statements have been prepared on a going concern basis;

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

vii. Those proper systems to ensure compliance with the provisions of all applicablelaws were in place and were adequate and operating effectively.

24. AUDITORS

(I) Statutory Auditors

The Company's Auditors M/s. Kalpesh Jain & Associates Chartered Accountants (FirmRegistration No. 132603W) were appointed as Statutory Auditors of the Company from theconclusion of 19th Annual General Meeting held on 30th September 2017 till the conclusionof 24th Annual General Meeting for a term of five consecutive years. As per theprovisions of Section 139 of the Companies Act 2013 the appointment of Auditors isrequired to be ratified by Members at every Annual General Meeting. In accordance with theSection 40 of the Companies (Amendment) Act 2017 the appointment of Statutory Auditorsis not required to be ratified at every AGM.

(II) Secretarial Auditors

Pursuant to provisions of Section 204 of the Companies Act 2013 and Rules made thereunder M/s Mayank Arora & Co. Practicing Company Secretary have been appointed as aSecretarial Auditors of the Company. The Secretarial Audit report of the SecretarialAuditor is enclosed as "Annexure-C to this Report".

Explanation or Comments on Observation reservation or adverse remark made by theCompany Secretary in practice in the S ecretarial Audit Report.

Auditors Observations Managements Comments
As per requirement of SEBI (LODR) Regulations 2015; the Audit Committee should meet 4 times in a year however during the year under review they met only 3 times that is on 30th May 2019 5th September 2019 & 14th November 2019 This was due to the death of one of our company secretary and COVID 19 disruptions the audit committee could not meet the required number of times
The shareholding pattern to be submitted to Stock exchange was not filed within due date for quarter ended June 2019. However filing was done on 22nd July 2019. There was some internal error while uploading the pattern but the same was corrected the subsequent day.
During the year RTA of the Company informed that they had not received any demat/remat request and the same is not applicable to the Company. The Company has not filed the said certificate for any quarter during the year under review. Company shares are fully dematerlised and hence demat\remat is not applicable and hence filing of said certificate is not necessitated.
The Company has not furnished us acknowledgement for intimation to Stock Exchange by the Promoters. The company secretary due to oversight must have forgotten to furnish the acknowledgement but we have already furnished in the first quarter of FY 20-21
The listed entity shall maintain a functional website containing the basic information about the listed entity and it should disseminate information as per Regulation 46 (2) The Company has not updated its website as per the requirements of LODR and the Companies Act 2013 The company is in the process of changing the website caretaker and the same shall be corrected henceforth.

(III) Cost Auditors

Pursuant to section 148 of the Companies Act 2013 read with Companies (Cost Recordsand Audit) Rules 2014 as amended from time to time your Company is not required toappoint Cost Auditor for the financial year 2019-20.

(IV) Internal Auditors

The provision of Section 13 8 of The Companies Act 2013 is now applicable to companyand company has appointed Mr. Mayur Mahesh as an internal auditor of the Company tocarry out internal Audit for the financial year 2019-20 based on the recommendation of theAudit Committee.

25. EXPLANATION ONANYADVERSE REMARKAND COMMENT BY THEAUDITORS

No adverse remark and comments are given by the auditors of the Company including theStatutory and/or Secretarial Auditor of the Company. The Statutory Auditor has notreported any incident of fraud of the Company during the financial year 2018-2019.

26. DISCLOSURE OF EMPLOYEES REMUNERATION

During the year under report none of the employees of the Company was in receipt ofremuneration for any part of the year in excess of the amount of remuneration prescribedin section 197 of the Companies Act 2013 read with Rule 5(2) and Rule 5(3) of theCompanies (Appointment and Remuneration of Managerial Personnel) Rules 2014 as amendedup to date.

The information required under section 197 of the act read with Rule 5(1) of thecompanies (Appointment and Remuneration) Rules 2014 is annexed as "Annexure-D"and forms a part of this report.

27. VIGIL MECHANISM (WHISTLE BLOWER POLICY)

The Company has adopted Vigil Mechanism/Whistle Blower Policy in accordance with theprovisions of Section 177 of the Companies Act 2013 read with Rule 7 of the Companies(Meetings of Board and its Powers) Rules 2014 and Regulation 22 of the SEBI (ListingObligations and Disclosure Requirements) Regulations 2015. It aims to provide an avenuefor employees through this policy to raise their concerns on any violation of legal orregulatory requirements suspicious fraud misfeasance misrepresentation of any financialstatements and reports. The Vigil Mechanism/Whistle Blower Policy is being made availableon the Company's website www.kmsgroup.in.

28. REMUNERATION POLICY

Pursuant to provision of Section 178(3) of the Companies Act 2013 The Board hasframed a Policy for selection appointment and remuneration of Directors and KeyManagerial Personnel including criteria for determining qualifications positiveattributes and independence of Directors. More details have been disclosed in theCorporate Governance Report. The Remuneration Policy has been uploaded on the Company'swebsite www.kmsgroup.in.

29. CORPORATE GOVERNANCE

Company is listed on BSE-SME. Hence Corporate Governance Report is not applicable tothe company for financial year 2019-20.

30. CORPORATE SOCIAL RESPONSIBILITY (CSR)

The Provision of the CSR expenditure and Composition of Committee as provided in thesection 135 of the Companies Act 2013 is not applicable to company

31. LISTING OFSHARES

The Company has been listed on SME Platform of BSE Limited with effect from 24th April2017. Further he Annual listing Fee for the year 2018-19 has been paid.

32. SEXUAL HARASSMENT

There was no case filled during the year under the sexual harassment of women atworkplace (Prevention Prohibition & Redressal) Act 2013. Further Company ensuresthat there is a healthy and safe atmosphere for every women employee at the workplace andmade the necessary policies for safe and secure environment for women employee and thepolicy of the same is made available on the Company's website www.kmsgroup.in.

33. GOODS & SERVICE TAX REGISTRATION

Goods & Service Tax ("GST") which is a comprehensive indirect tax reformis introduced in India

w.e.f. 1st July 2017 and was applicable throughout India which replaced multiplecascading taxes levied by the Central and State Governments. Hence your Company has alsogot registered under the same for trading of Surgical and Disposable items. GSTregistration number of the Company and primary address are as under:

LOCATION OF PRIMARY PLACE OF BUSINESS GSTIN ALLOTTED
Mumbai 27AAACK9269Q1ZM

34. MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

The Management Discussion and Analysis Report as required under Schedule V of the SEBI(Listing Obligation and Disclosure Requirements) Regulation 2015 forms part of thisreport and are attached as "Annexure E".

35. INSIDER TRADING:

The Board of Directors has adopted the Inside Trading Policy in accordance with therequirement of the Securities & Exchange Board of India (Prohibition of InsiderTrading) Regulations 2015. The Inside Trading Policy of the company lays down guidelinesand procedure to be followed and disclosure to be made while dealing with shares of thecompany as well as consequences of violation. The policy has been formulated to regulatemonitor and ensure reporting of deals by employees and to maintain the highest ethicalstandards of dealing in the company's shares.

The Company had in place a ‘Code of Conduct for Prevention of Insider Trading andCorporate Disclosure Practices' in accordance with the SEBI (Prohibition of InsiderTrading) Regulations 2015.

Accordingly the Board approved and adopted:

a) Code of Practices and Procedures for Fair Disclosure of Unpublished Price SensitiveInformation; and

b) Code of Conduct to Regulate Monitor and Report Trading by its employees and otherconnected persons. The code referred to in (a) above is placed on the Company's websitewww.ambaniorganics.com .

35. CODE OFCONDUCT

The Board of Directors of the Company has laid down a Code of Conduct for all the BoardMembers and Senior Management personnel of the Company. The Board Members and the SeniorManagement personnel have to affirm compliance with the code for the F. Y. 2019-20. The

said Code of Conduct has been posted on the website of the Company. A declaration tothis effect is annexed and forms part of this report.

36. SECRETARIAL STANDARDS:

During the Financial Year 2019-20 the company is in compliance with the applicableSecretarial Standards issued by the Institute of Companies of India with respect to Boardand General meetings.

37. SHARE TRANSFERSYSTEM:

All share transfer dematerialization and related work is managed by KarvyComputershare Pvt. Ltd. Karvy Selenium Tower B Plot 31-32 Gachibowli FinancialDistrict Nanakramguda Hyderabad Telangana - 50003. Shareholders are requested to sendall share transfer requests demat/remat requests correspondence relating to shares i.e.change of address Power of Attorney etc. to the registrar and transfer agents.

38. SHARE CAPITALAUDIT:

As stipulated by Securities and Exchange Board of India (SEBI) Mr. Mayank AroraProprietor of M/s. Mayank Arora & Co. Practicing Company Secretaries carried out theShare Capital Audit to reconcile

the total admitted capital with National Securities Depository Limited (NSDL) CentralDepository Services (India) Limited (CDSL) and shares held physically as per the registerof members and the total issued and listed capital.

39. INVESTORS CORRESPONDENCE:

40. ACKNOWLEDGEMENT

The Board wishes to place on record their sincere appreciation and acknowledge withgratitude the effort put in and co-operation extended by bankers shareholders employeesat all levels and all other associated persons bodies or agencies for their continuedsupport.

Date: 07-09-2020 For KMS Medisurgi Ltd
Place: Mumbai sd/-
Mr. Gaurang Prataprai Kanakia
Managing Director & Chairman (DIN:00346180)

.