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Konndor Industries Ltd.

BSE: 532397 Sector: Others
NSE: N.A. ISIN Code: INE971A01014
BSE 00:00 | 03 Feb 6.77 -0.35
(-4.92%)
OPEN

6.77

HIGH

6.77

LOW

6.77

NSE 05:30 | 01 Jan Konndor Industries Ltd
OPEN 6.77
PREVIOUS CLOSE 7.12
VOLUME 316
52-Week high 8.70
52-Week low 3.56
P/E 7.05
Mkt Cap.(Rs cr) 4
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 6.77
CLOSE 7.12
VOLUME 316
52-Week high 8.70
52-Week low 3.56
P/E 7.05
Mkt Cap.(Rs cr) 4
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Konndor Industries Ltd. (KONNDORINDUST) - Director Report

Company director report

To

The Members

KONNDOR INDUSTRIES LIMITED

AHMEDABAD

Your Directors take pleasure in presenting the 39thAnnual Report of yourCompany together with Audited Accounts for the year ended 31stMarch 2022.

1. FINANCIAL HIGHLIGHTS:

Your company’s performance for the financial year 2021-22 is summarized below:-

2021-22 2020-21
(Rs. in (Rs. in
lacs) lacs)
Total Revenue 375.17 911.93
Total Expenses 290.70 907.71
Profit (Loss) 84.46 4.22
Before Taxes
Net Tax Expense 25.16 1.91
Profit/ (Loss) for the period 59.30 2.31
(After Tax)

2. OPERATIONS:

Your Company has earned total revenue of Rs. 375.17Lacs as compared to Rs. 911.93 Lacsin the previous year. The total expenditure incurred during the year was Rs. 290.70Lacs ascompared to Rs.907.71 Lacs in the previous year. The Net Profit after taxation during theyear under review is Rs. 59.30 Lacs as compared to previous year’s Loss ofRs. 2.31Lacs.

3. DIVIDEND:

With a view to conserve the resources your Directors do not recommend any dividend onthe equity share capital of the Company for the year ended 31st March 2022.

4. PUBLICDEPOSITS:

Your Company has not accepted any deposits from public during the year under review.

5. DIRECTORS:

Shri Pawanjitsingh Negi retires at the ensuing Annual General Meeting of the Companyand being eligible for reappointment he offers himself for reappointment.

Ms. Ananya Acharya has been appointed as Additional Director of the Company in theBoard Meeting held on 13th November 2021. Her appointment is placed forconfirmation at item no. 4 for your approval.

6. COMPOSITION AND NUMBER OF MEETINGS OF THE BOARD

The Board of Directors of the Company consists of well qualified and experinced personshaving expertise in their respective areas. It has combination of 2Executive Directors2 Independent Directors and 1 Non executive Director.

The Board meets at regular interval with gap between two meetings not exceeding 120days. Additional meetings are held as and when necessary. During the year under thereview the Board met 4 times on the following dates: 2ndJune 2021 14thAugust 2021 13th November 2021 and 14th February 2022

7. DIRECTORS’ RESPONSIBILITY

STATEMENT:

In terms of Section 134 (3) of the Companies Act 2013 in relation to the financialstatements for FY 2021-22 the Board of Directors state that

a) In preparation of the annual accounts the applicable accounting standards have beenfollowed along with proper explanation relating to material departures if any;

b) The Directors have selected such accounting policies and applied them consistentlyand made judgments and estimates that are reasonable and

27th Annual Report 2009-10 prudent so as to give a true and fair view of the stateof affairs of the Company as on 31st March 2022 and of the profits for theyear ended 31st March 2022;

c) The Directors have taken proper and sufficient care for 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; and

d) The financial statements have been prepared on a going concern basis.

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

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

8. POLICY ON DIRECTORS’ APPOINTMENT AND REMUNERATION INCLUDING CRITERIA FORDETERMINING QUALIFICATIONS POSITIVE ATTRIBUTES INDEPENDENCE OF A DIRECTOR AND OTHERMATTERS PROVIDED UNDER SUBSECTION (3) OF SECTION 178

The Nomination & Remuneration Committee considers the requirement of the skill onthe Board integrity of the persons having standing in their respective field/professionand who can effectively contribute to the Company's business and policy decisionsrecommend the appointment to the Board for approval.

The Committee has approved a policy with respect to the appointment and remuneration ofthe Directors and Senior Management personnel.

9. STATUTORY AUDITORS AND THEIR REPORT

M/s. Shah and Shah Chartered Accountants the Statutory Auditors of the Company hasConducted the audit for Financial Year 2021-22.

The board has decided to appoint them as Statutory auditors to conduct the Audit forthe further Period at the ensusing Annual general Meeting.

The Auditors’ Report does not contain any qualification reservation or anyadverse remark.

10.CORPORATE GOVERNANCE REPORT

Pursuant to Regulation 15 of theSEBI (Listing Obligations and Disclosure Requirements)Regulations 2015 the Report on Corporate Governance and Management Discussion &Analysis Report are not applicable to the Company as the paidup equity share capital ofthe Company is less than Rs. 10 Crore and net worth of the Company is less than Rs. 25Crores as on the last date of Financial year 2021-22.

11.INTERNAL AUDITORS

Pursuant to the provisions of Section 138 read with Rule 13 of the Companies (Accounts)Rules 2014 your Company has appointed M/s RNCA & Associates. Chartered Accountantsas the Internal Auditors of the Company for conducting internal audit for the financialyear 2022-23.

12.SECRETARIAL AUDIT REPORT

Pursuant to Section 204 read with Section 134(3) of the Companies Act 2013 the Boardof Directors has appointed Mr. Abhishek Chhajed Company Secretary Ahmedabad asSecretarial Auditor of the Company for FY 2021-22. The Secretarial Audit Report issued inCompliance with SEBI (LODR) by Mr. Abhishek ChhajedIs annexed with the Board’s reportas Annexure C.

13.SECRETARIAL AUDITORS’ REMARKS

Mr. Abhishek Chhajed Company Secretary who was appointed as Secretarial Auditor forthe Company for conducting audit for the year 2021-22 has given following qualificationsin her report

"Pursuant to regulation 47 of the Securities and Exchange Board of India(Listing Obligation and Disclosure Requirement) Regulations 2015 the Company has not madenewspaper publication of the financial results for the quarter and year ended March 312021."

14.MANAGEMENT’S VIEW ON REMARKS

With reference to the remarks provided in the Secretarial Audit Report Board ofDirectors of the Company has considered the remarks. Board will ensure that such noncompliances do not happen again and has placed proper vigilance over the Compliance toensure compliance with all the applicable rules and regulations.

15.CODE OF CONDUCT

The Company has adopted a Code of Business Conduct based on the business principles ofthe Company. The Board has laid down the code of conduct for all Board members and Seniormanagement of the Company. The code of conduct has been posted on the website of thecompany. All Board members and Senior management personnel affirms the compliance with thecode on an annual basis in the prescribed format.

16.STATEMENT ON DECLARATION GIVEN BY INDEPENDENT DIRECTORS UNDER SUBSECTION (6) OFSECTION 149

The Company has received declarations from all the Independent Directors confirmingthat they meet the criteria of Independence as prescribed under the applicable provisionsof the Companies Act 2013 read with the Schedules and Rules issued thereunder as well asapplicable regulations of SEBI (Listing Obligations and

Disclosure Requirements) Regulations 2015.

17.DEMATERIALIZATION

The Equity shares of the Company are in compulsory demat segment and are available fortrading in the depository system of both National Securities Depository Ltd (NSDL) and theCentral Depository Services (India) Ltd. (CDSL). 5218272 nos. of equity shares forming94.56% of the equity share capital of the Company stands dematerialized on 31stMarch 2022.

18. LISTING OF SHARES:

The Equity Shares of the Company are listed on the BSE Limited the nation-wide StockExchange.

19.PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES

All the related party transactions were at arm’s length basis. They were incompliance with the applicable provisions of the Companies Act 2013 and the ListingAgreement.

All the related party transactions are put forth for the approval of appropriatebodies as applicable in compliance with the applicable provisions of the Act. Astatement of all related party transactions is presented before the Audit and RiskManagement Committee for its review on quarterly basis specifying the nature value andterms and conditions of the transaction.

The particulars of contracts/arrangements entered into by the Company with relatedparties referred to in sub-section (1) of section 188 of the Companies Act 2013 areannexed to this report as Annexure A.

27th Annual Report 2009-10

20.CORPORATE SOCIAL RESPONSIBILITY (CSR)

Provisions of Corporate Social Responsibility (CSR) are currently not applicable to theCompany.

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

The details relating to conservation of energy technology absorption foreign exchangeearnings and outgo prescribed under Section 134 (3)(m) of the Companies Act 2013 readwith Rule 8(3) of the Companies (Account) Rules 2014 are not applicable to the Company.

22.PARTICULARS OF EMPLOYEES

The information required pursuant to Section 197 read with the Companies (Appointmentand Remuneration of Managerial Personnel) Rules 2014 are not applicable to the Company.

23.THE EXTRACT OF THE ANNUAL RETURN

The details forming part of the extract of the Annual Return in Form MGT 9 as requiredunder Section 134 (a) of the Companies Act 2013 is attached as Annexure B to thisReport.

24.APPRECIATION AND ACKNOWLEDGEMENTS

The Board of Directors places on record their appreciation for the continued supportand confidence received from its Bankers and employees of the Company.

For and on behalf of the Board of Directors

Shashikant Thakar
Chairman
DIN: 02887471
Place : Ahmedabad
Date: 13/08/2022

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