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Link Pharma Chem Ltd.

BSE: 524748 Sector: Industrials
NSE: N.A. ISIN Code: INE302F01011
BSE 00:00 | 09 Dec 41.80 -1.45
(-3.35%)
OPEN

43.90

HIGH

43.90

LOW

40.80

NSE 05:30 | 01 Jan Link Pharma Chem Ltd
OPEN 43.90
PREVIOUS CLOSE 43.25
VOLUME 1923
52-Week high 64.45
52-Week low 32.65
P/E 11.30
Mkt Cap.(Rs cr) 19
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 43.90
CLOSE 43.25
VOLUME 1923
52-Week high 64.45
52-Week low 32.65
P/E 11.30
Mkt Cap.(Rs cr) 19
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Link Pharma Chem Ltd. (LINKPHARMACHEM) - Director Report

Company director report

Dear Members

Your Directors have pleasure in presenting their 37th AnnualReport on the business and operations of the Company together with the Audited Statementof Accounts for the year ended 31st March 2022.

OPERATIONS AND STATE OF AFFAIRS OF THE COMPANY:

During the year under review performance of your Company as under:

(Rs. in Lacs)
Particulars As at March 31 2022 As at March 31 2021
Revenue from Operations 5356.06 3481.26
Other Income 46.44 2.15
Total Income 5402.50 3483.41
Profit before Finance Cost Depreciation and Tax 400.06 299.29
Less: Finance Cost 45.12 44.04
Less: Depreciation 92.78 87.40
Profit before Tax 262.16 167.85
Provision for Taxation (Deferred & Current Tax) 73.99 59.36
Profit after Tax 188.17 108.49

RESULTS OF OPERATIONS & STATE OF COMPANY'S AFFAIRS:

During the year under review the total revenue from operations was Rs.5356.06 higher by 53.85% as compared to last year's revenue of Rs. 3481.26 Lacs. TheProfit after Tax (PAT) of your Company was Rs. 188.17 higher by 73.46% as compared to thelast financial year's PAT was Rs. 108.48 Lacs.

TRANSFER TO RESERVES:

The Board of Directors has decided to retain the entire amount ofprofit for Financial Year 2021-22 in the statement of profit and loss account.

DIVIDEND:

To conserve funds for operations of the Company the Board does notrecommend any dividend for this financial year.

SHARE CAPITAL:

The paid-up Equity Share Capital of the Company as on March 31 2022was Rs. 444.06 Lacs comprising of 4440568 equity shares of Rs. 10/- each. During theyear 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 ListingFees for the Financial Year 2022-23 to the Stock Exchange where its equity shares arelisted.

CHANGE IN THE NATURE OF BUSINESS IF ANY:

There is no change in the nature of business during the financial year2021-22.

CORPORATE GOVERNANCE:

Regulation 27 of the SEBI (Listing Obligations and DisclosureRequirements) Regulations 2015 in connection with Corporate Governance are not applicableto the Company since the paid-up capital of the Company is less than Rs. 10 Crore and NetWorth of the Company is below Rs. 25 Crore.

MATERIAL CHANGES AND COMMITMENT - IF ANY AFFECTING FINANCIAL POSITIONOF THE COMPANY FROM THE END OF THE FINANCIAL YEAR TILL THE DATE OF THIS REPORT:

There has been no material change and commitment affecting thefinancial performance of the Company which occurred between the end of the Financial Yearof the Company to which the financial statements relate and the date of this Report.

SUBSIDIARIES:

Your Company does not have any subsidiary/subsidiaries within themeaning of the Companies Act 2013.

MANAGEMENT DISCUSSION AND ANALYSIS:

A detailed review of the operations performance and future outlook ofthe Company and its businesses is given in the Management Discussion and Analysis Reportwhich forms part of this Report as Annexure-"A".

ANNUAL RETURN:

Pursuant to Section 92(3) read with Section 134(3)(a) of the Act theAnnual Return as on March 31 2022 is available on the Company's websitehttp://linkpharmachem.co.in.

BOARD MEETINGS:

During the financial year under review four Board Meetings were heldviz. on May 29 2021 August 11 2021 November 13 2021 and February 14 2022. Theintervening gap between any two meetings was within the period of 120 days prescribed bythe Companies Act 2013.

DIRECTORS' RESPONSIBILITY STATEMENT:

To the best of their knowledge and belief and according to theinformation and explanations obtained by them your Directors make the followingstatements in terms of Section 134(3)(c) of the Companies Act 2013.

(a) that in the preparation of the annual accounts for the year endedMarch 31 2022 the applicable accounting standards have been followed along with properexplanation relating to material departures; if any;

(b) that the Directors had selected such accounting policies andapplied them consistently and made judgments and estimates that are reasonable and prudentso as to give a true and fair view of the state of affairs of the Company as at March 312022 and of the profit of the Company for the year ended on that date;

(c) that the Directors had taken proper and sufficient care for themaintenance of adequate accounting records in accordance with the provisions of theCompanies Act 2013 for safeguarding the assets of the Company and for preventing anddetecting fraud and other irregularities;

(d) that the Directors had prepared the annual accounts on a goingconcern basis;

(e) that the Directors in the case of a listed Company had laid downinternal financial controls to be followed by the Company and that such internal financialcontrols are adequate and were operating effectively; and

(f) that the Directors had devised proper systems to ensure compliancewith the provisions of all applicable laws and that such systems were adequate andoperating effectively.

INDEPENDENT DIRECTOR'S DECLARATION:

The Company has received the necessary declaration from eachIndependent Director in accordance with Section 149(7) of the Act that he/she meets thecriteria of independence as laid out in Section 149(6) of the Act and the ListingRegulations.

EVALUATION OF THE BOARD'S PERFORMANCE:

The Board has carried out an annual evaluation of its own performanceCommittees of the Board and individual Directors pursuant to the provisions of theCompanies Act 2013 and Listing Regulations. The Board of Directors expressed theirsatisfaction with the evaluation process.

DIRECTORS AND KEY MANAGERIAL PERSONNEL:

The Board of your Company is duly constituted in accordance with therequirements of the Companies Act 2013 read with the Listing Regulations.

In accordance with the provisions of Companies Act 2013 and theArticles of Association of the Company Mr. Satish Thakur (DIN: 00292129) Director of theCompany retires by rotation at the ensuing Annual General Meeting and being eligible hasoffered himself for re-election.

During the year under review Mr. Ravindra Bedekar resigned from thepost of Chief Financial Officer of the Company w.e.f. 30th October 2021 due toattaining the age of retirement. Subsequently the Board on recommendation of Nominationand Remuneration Committee appointed Mr. Jayesh Jain as Chief Financial Officer of theCompany w.e.f 15th February 2022.

RELATED PARTY TRANSACTIONS:

None of the transactions with related parties fall under the scope ofSection 188(1) of the Act. Accordingly the disclosure of related party transactions asrequired under Section 134(3)(h) of the Act in Form AOC-2 is not applicable to the Companyfor FY 2021-22 and hence does not form part of this report.

Members may refer to Note No. 30 to the financial statement which setsout related party disclosures pursuant to Ind AS.

PARTICULARS REGARDING CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION ANDFOREIGN EXCHANGE EARNINGS AND OUTGO:

Information required under Section 134(3)(m) of the Companies Act 2013read with Rule 8 of the Companies Accounts) Rules 2014 is given in the Annexure"B" to this report.

PARTICULARS OF EMPLOYEES:

Disclosures required under Section 197 of the Companies Act 2013 readwith Rule 5 of the Companies (Appointment & Remuneration) Rules 2014 have beenannexed as Annexure "C".

VIGIL MECHANISM/WHISTLE BLOWER POLICY:

In pursuant to the provisions of Section 177(9) & (10) of theCompanies Act 2013 a Vigil Mechanism for directors and employees to report genuineconcerns has been established.

AUDITORS:

(A) Statutory Auditors:

The Company had appointed M/s. Sanjay Soni & Associates CharteredAccountants (Firm Registration No. 113251W) as the Statutory Auditors of the Company for aperiod of five years at the AGM of the Company held on September 28 2017. Pursuant to theprovisions of Section 139 of the Act read with the Companies (Audit and Auditors) Rules2014 the term of M/s. Sanjay Soni & Associates Chartered Accountants as StatutoryAuditors of the Company expires at the conclusion of the ensuing AGM of the Company.

The Notes on financial statement referred to in the Auditors' Reportare self-explanatory and do not call for any further comments. The Auditors' Report doesnot contain any qualification reservation adverse remark or disclaimer.

The Board of Directors of the Company at its meeting held on 30thMay 2022 on the recommendation of the Audit Committee has recommended the appointmentof M/s. CNK & Associates LLP Chartered Accountants (Firm Registration No.101961W/W-100036) as the Statutory Auditors of the Company to the members for a periodfive years from the conclusion of the 37th AGM till the conclusion of 42ndAGM to be held in year 2027.

The Company has received a certificate that they satisfy the criteriaprovided under Section 141 of the Act and that the appointment if made shall be inaccordance with the applicable provisions of the Companies Act 2013 and rules framedthere under. The Board recommends their appointment as Statutory Auditors for approval ofmembers.

(B) Secretarial Auditor:

Pursuant to the provisions of Section 204 of the Act and rules madethere under the Company has appointed M/s. Vijay Bhatt & Co Practicing CompanySecretaries (C.P. No. 2265) to undertake the Secretarial Audit of the Company. TheSecretarial Audit Report is annexed as Annexure "D" and forms an integralpart of this Report. There is no secretarial audit qualification for the year underreview.

COMMITTEES OF THE BOARD:

The Board of Directors has the following Committees:

Audit Committee:

The Audit Committee comprises of Mr. Suresh Dhatrak (Chairman) Mr.Devang Shah and Mr. Satish Thakur as members. During the year all the recommendationsmade by the Audit Committee were accepted by the Board.

Nomination and Remuneration Committee:

The Nomination and Remuneration Committee comprises of Mr. SureshDhatrak (Chairman) Mr. Devang Shah and Mrs. Rachna Ghai as members.

Stakeholders Relationship Committee:

The Stakeholders Relationship Committee comprises of Mr. Suresh Dhatrak(Chairman) Mr. Satish Thakur and Mr. Rishikesh Thakur as members.

SECRETARIAL STANDARDS:

The Company complies with the all applicable mandatory secretarialstandards issued by the Institute of Company Secretaries of India.

CORPORATE SOCIAL RESPONSIBILITY:

Your Company does not fall within the purview of Section 135 of theCompanies Act 2013.

DEPOSITS:

Your Company has neither invited nor accepted public deposits withinthe meaning of Section 73 and 76 of the Companies Act 2013 read with the Companies(Acceptance of Deposits) Rules 2014.

PARTICULARS OF LOANS GUARANTEES AND INVESTMENTS:

There are no loans guarantees or investments falling under Section 186of the Companies Act 2013. However investments not falling under purview of this madeby the Company are given in the Notes to the financial statements.

RISK MANAGEMENT POLICY AND INTERNAL FINANCE CONTROL ADEQUACY:

The Company has in place a mechanism to identify assess monitor andmitigate various risks in achieving key objectives of the Company. The Company hasdeveloped and implemented Risk Management Policy of the Company to identify & evaluatebusiness risks and opportunities. This framework seeks to create transparency minimizeadverse impact on the business objectives and enhance the Company's competitive advantage.

The internal control systems are commensurate with the nature size andcomplexity of the business of the Company. The Audit Committee quarterly reviews adequacyand effectiveness of Company's Internal Controls and monitors the implementation of auditrecommendations if any.

DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORK PLACE(PREVENTION PROHIBITION & REDRESSAL) ACT 2013:

The Company has safe and healthy work environment that enables itsemployees to work without fear prejudices gender bias and sexual harassment and also setup guideline in line with the requirement of The Sexual Harassment of Women at workplace(Prevention Prohibition & Redressal) Act 2013.

During the financial year 2021-22 no complaint was received under thepolicy.

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS ORTRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY'S OPERATIONS IN FUTURE:

There are no significant or material orders which were passed by theRegulators or

ACKNOWLEDGEMENTS:

The Board of Directors wish to place on record its deep sense ofappreciation for the committed services by all the employees of the Company. The Board ofDirectors would also like to express their sincere appreciation for the assistance andco-operation received from the banks government and regulatory authorities stockexchange customers vendors and members during the year under review.

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