Mallcom (India) Ltd.
|BSE: 539400||Sector: Industrials|
|NSE: MALLCOM||ISIN Code: INE389C01015|
|BSE 00:00 | 16 May||659.55||
|NSE 00:00 | 16 May||649.50||
|Mkt Cap.(Rs cr)||412|
|Mkt Cap.(Rs cr)||411.56|
Mallcom (India) Ltd. (MALLCOM) - Director Report
Company director report
Your Directors are pleased to present the Thirty-Seventh Annual Report on the businessand operation of the Company together with Audited Statement of Accounts for the yearending March 31st 2021.
OVERVIEW OF COMPANY PERFORMANCE
During the financial year 2021:
The standalone revenue of the company increased 14.32 % to Rs. 32940.85 Laks comparedto Rs.
28.814.95 Lakhs in 2019-20.
The standalone and consolidated profit after tax for the current year was Rs. 2552.24Lakhs and Rs. 2826.81 Lakhs respectively as against Rs. 1826.07 Lakhs and Rs. 1888.43Lakhs respectively for the previous year.
The consolidated revenue of the company for the year was Rs. 32010.57 Lakhs as againstRs.
28.814.95 Lakhs for the previous year.
The paid up equity share capital as at March 31st 2021 was Rs. 624.00 Lakh. During theyear under review the company has not issued shares with differential voting rights norhas granted any stock options or sweat equity.
TRANSFER TO RESERVE
The company has transferred an amount of Rs. 2500 Lakh to the general reserve for thefinancial year ended March 31st 2021.
The Board of Directors at their meeting held on 19th June 2021 has recommendedpayment of Rs. 3/- (Rupees Three only) (30%) per equity share of the face value of Rs.10(Rupees Ten only) each as final dividend for the financial year ended 31st March 2021.The payment of final dividend is subject to the approval of the shareholders at theensuing Annual General Meeting (AGM) of the Company. The dividend if approved by theshareholders at the ensuing Annual General Meeting shall be paid to those shareholderswhose names appear in the Register of Members as on Book Closure Date.
Total dividend of 30% for the financial year 2020-2021 would absorb Rs. 187.20 Lakh.
In view of the changes made under the Income-tax Act 1961 by the Finance Act 2020dividends paid or distributed by the Company shall be taxable in the hands of theShareholders. The Company shall accordingly make the payment of the final dividend afterdeduction of tax at source.
TRANSFER TO INVESTOR EDUCATION AND PROTECTION FUND
Pursuant to the provision of Section 126(5) of the Companies Act 2013 dividend whichremains unpaid or unclaimed for a period of seven years from the date of its transfer tounpaid/ unclaimed ' \ dividend account is required to be transferred
by the Company to Investor Education and Protection Fund (IEPF) established by theCentral Government under the provisions of Section 125 of Companies Act 2013.
Pursuant to the provisions of Section 126(5) of the Companies Act 2013 your Companyhas H transferred Rs. 21758/- during
the year to the Investor Education
and Protection Fund. This amount was lying unclaimed/ unpaid with the Company for a
period of 7 (Seven) years after declaration of Final Dividend for the Financial Yearended 2012-13.
MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY.
No material changes and commitments affecting the financial position of the Companyoccurred between the end of the financial year to which this financial statements relateand the date of this Report.
CHANGE IN NATURE OF BUSINESS
There has been no change in the nature of business of the company. Your Companycontinues to be one of the leading Personal Protective Equipment Manufacturer in thecountry.
The Company has two wholly owned subsidiary companies namely Mallcom VSFT Gloves Pvt.Ltd.(VSFT) Best Safety Private Limited (BSPL) and another subsidiary Mallcom Safety Pvt.Ltd. (MSPL). The Company regularly monitors the performance of these companies.
During the year under review Mallcom Safety Pvt. Ltd. erstwhile wholly ownedsubsidiary of the Mallcom (India) Ltd. has issued 2000000 equity shares on preferentialallotment basis. Out of which U99900 equity shares were issued to M/s.
AB Holdings Ltd. and remaining 500100 equity shares were issued to Mallcom (India)Ltd. Post this allotment Mallcom (India) Ltd.'s shareholding in MSPL stands at 50.003%.
Further during the financial year 2020-2021 Mallcom (India) Ltd. acquired 100% equitystake in Best Safety Pvt. Ltd. Consequent to the acquisition M/s. Best Safety Pvt. Ltd.became a wholly owned subsidiary of the Company.
The Consolidated Profit and Loss Account for the period ended 31st March 2021includes the Profit and Loss Account for
the subsidiaries for the complete Financial Year ended 31st March 2021. TheConsolidated Financial Statements of the
Company including all subsidiaries duly audited by the statutory auditors are presentedin the Annual Report. The
consolidated financial statements have been prepared in strict
compliance with applicable Indian Accounting Standards and
whereable applicable the SEBI (Listing Obligations and
Disclosure Requirements] Regulations 2015
prescribed by the Securities and Exchange Board of ^g^Bj
A Report on Performance and Financial ^ Jr B^" ^
Position of each of the Subsidiaries in f ^j''-
Form AOC1 is annexed herewith as j / -/ L
Annexure - A of this report. The annual a' 7
accounts of the subsidiary
companies and the related detailed m- ^ i&j j
information shall be made M t "~B F
available to Shareholders of the jt / \
Company upon request and it t f i I H ll