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Natural Capsules Ltd.

BSE: 524654 Sector: Others
NSE: N.A. ISIN Code: INE936B01015
BSE 00:00 | 20 Feb 51.00 1.85






NSE 05:30 | 01 Jan Natural Capsules Ltd
OPEN 51.60
52-Week high 84.00
52-Week low 43.10
P/E 19.25
Mkt Cap.(Rs cr) 32
Buy Price 48.85
Buy Qty 10.00
Sell Price 50.00
Sell Qty 447.00
OPEN 51.60
CLOSE 49.15
52-Week high 84.00
52-Week low 43.10
P/E 19.25
Mkt Cap.(Rs cr) 32
Buy Price 48.85
Buy Qty 10.00
Sell Price 50.00
Sell Qty 447.00

Natural Capsules Ltd. (NATURALCAPSULES) - Director Report

Company director report


Your Directors have pleasure in presenting their 26th TwentySixth Annual Report together with the Audited Accounts of the company for the year ended31st March 2019. Financial results:

The Company's financial performance for the year ended is 31stMarch 2019. Summarized below:

Particulars (Rs. In Lakhs) (Rs. In Lakhs)
31st March 2019 31st March2018
Gross Sales 7107.25 6460.69
Less : Excise duty & GST 1129.21 985.17
Net Sales 5978.04 5475.52
Other Income 113.72 81.48
Total 6091.76 5557.01
Profit before depreciation & taxation 526.59 601.47
Less : Depreciation 319.74 433.25
Less : Provision for taxation 79.49 84.84
Less: Prior period adjustment (Taxation) 0 0
Add: Deferred Tax withdrawn -64.68 -27.72
Profit after taxation 192.04 111.11
Add: Balance brought forward from previous year/Other Equity 4926.18 4809.11
Surplus available for appropriation
Appropriations 0 0
General Reserve 0 0
Proposed Dividend 62.33 62.33
Tax on Dividend 12.69 12.69
Additional depreciation on fixed asset as per Companies Act 2013 0 0
Balance carried to Balance sheet 4926.18 4809.11
Total 4926.18 4884.13

The Change in the Nature of Business if any:

There was no change in nature of business for the period under review.

Transfer to reserves:

The company does not propose to transfer any amount to the GeneralReserves.


Based on the performance of the Company and the need for conservationof internal accruals while maintaining the dividend for the shareholders your Directorsare pleased to recommend a final dividend of Rs. 1 per equity share at the rate of 10 %subject to the approval of members. The dividend if approved by the Members will resultin an out flow of Rs.62.33 lakhs from the company in addition to Rs. 12.69 lakhs by way ofdividend distribution tax. Dividend if declared will be paid to the Members whose namesappear in the Register of Members as on the record date as on 14th August 2019Transfer of Unclaimed Dividend to Investor Education and Protection Fund & Transfer ofShares To Investor Education And Protection Fund

In terms of the Companies Act any unclaimed or unpaid Dividendrelating to the financial year 2011-12 will be transferred to the Investor Education andProtection Fund established by the Central Government after the conclusion of 26thAnnual General Meeting.

Pursuant to Section 124(6) of the Companies Act 2013 all shares inrespect of which Dividend has not been paid or claimed for seven consecutive years or moreshall be transferred by the company in the name of Investor Education and Protection Fund("IEPF"). The unclaimed Equity Shares pertaining to financial year 2010-2011 to2016-17 will be transferred to IEPF A/c by 30th Sep 2019 and the details of thesaid shares transferred are provided on the website of the Company at

Share capital:

During the year under consideration there was no change in the paid upcapital. The present share capital stands at Rs. 62327000 Comprising of 6232700Equity Shares of Rs. 10/- only each. Further the company has not made any fresh issue ofshares for the Financial Year 2018-19.

Extract of Annual Return:

Pursuant to Section 92(3) and Section 134(3)(a) of the Act read withRule 12(1) of the Companies (Management and Administration) Rules 2014 an extract of theAnnual Return is attached and marked as Annexure 7 to this report and also uploaded on thewebsite of the Company web link

Board Meetings and Its Committees Conducted During The Period UnderReview:

Board Meeting No. Date of Board Meeting Board Strength No. of Director's Present
124th Friday 18th May 2018 8 8
125th Monday 30th July 2018 8 8
126th Saturday 10th November 2018 9 8
127th Saturday 09th February 2019 9 9

Further details of the same have been enumerated in the CorporateGovernance Report annexed in Annexure-5 to this report.

Fixed Deposits:

Company has not accepted any deposits within the meaning of Section 73of the Companies Act 2013 and the Companies (Acceptance of Deposits) Rules 2014.

Particulars of Loans Guarantees or Investments:

The company has not given any loans or guarantees covered under theprovisions of section 186 of the Companies Act 2013. The details of the investments madeby company are given in the notes to the financial statements.

Internal control systems and their adequacy:

Internal financial controls means the policies and procedures adoptedby the company for ensuring the orderly and efficient conduct of its business includingadherence to company's policies the safeguarding of its assets the prevention anddetection of frauds and errors the accuracy and completeness of the accounting recordsand the timely preparation of reliable financial information; The Company has adequateinternal control systems to monitor business processes financial reporting and compliancewith applicable regulations. The systems are periodically reviewed for identification ofcontrol deficiencies and formulation of time bound action plans to improve efficiency atall the levels. The Audit Committee of the Board constantly reviews internal controlsystems and their adequacy significant risk areas observations made by the internalauditors on control mechanism and the operations of the Company and recommendations madefor corrective action through the internal audit reports. The Committee reviews thestatutory auditors' report internal audit reports secretarial audit reportsproject repots quarterly budgets significant processes and accounting policies and otherkey issues from time to time.

Directors' Responsibility Statement

The Directors confirm that –

(a) In the preparation of the annual accounts the applicableaccounting standards have been followed and there are no material departures from thosestandards.

(b) They have selected such accounting policies and applied themconsistently and made judgments and estimates that are reasonable and prudent so as togive a true and fair view of the state of affairs of the Company at the end of thefinancial year and of the profit of the Company for that period; (c) They have takenproper and sufficient care for maintenance of adequate accounting records in accordancewith the provisions of the Companies Act for safeguarding the assets of the Company andfor preventing and detecting fraud and other irregularities; (d) They have prepared theannual accounts on a going concern basis; (e) The directors had devised proper systems toensure compliance with the provisions of all applicable laws and that such system wereadequate and operating effectively. Based on the framework of internal financial controlsestablished and maintained by the Company work performed by theInternal Statutory andSecretarial Auditors reviews performed by the management and the relevant BoardCommittees the Board in concurrence with the Audit Committee is of the opinion that theCompany's internal financial controls were adequate and effective as on March 312019. (f) They have duly complied with Secretarial Standards issued by Institute ofCompany Secretaries of India (ICSI) from time to time.

Information Pertaining to Auditors and Other Allied Matters:-

Details In Respect Of Frauds Reported By Auditors under Section 143(12)Other Than Those Which Are Reportable To the Central Government

There were no instances of frauds identified or reported by theStatutory Auditors during the course of their audit pursuant to Section 143(12) of theCompanies Act 2013.

Explanation and Comments on Auditor Reports:

The reports of the Statutory Auditors (annexed elsewhere in the AnnualReport) and that of the Secretarial Auditors (annexed hereto as Annexure – 2) and theexplanations on the observations of Secretarial Audit Report is given below:

Comments/Observations of the Secretarial Auditor: Company's Response/Explanations:
The Company has not spent the amount as prescribed under sec. 135 of the Companies Act 2013 and the rules framed thereunder relating to Corporate Social Responsibility. The Company in the process of identifying proper areas of CSR.
The Company has not consolidated Financials of its subsidiary M/s Natural Drug Discovery Pvt Ltd incorporated on 29/09/2018 for the quarter ended 31/12/2018. As per SEBI LODR guidelines the quarterly consolidation is not mandatory hence company has opted for yearly consolidation of accounts.
Some of the promoter's physical shares to the extent of 3800 equity shares are yet to be Dematerialized The Company is in the process of dematerializing the shares of the said promoters
There were few instances of delays in filing of E forms with the Registrar of Companies with additional fees. The said delay was due to inadvertence and the forms have been filed with additional fees and there were no instance of non-compliance. the company has filed a reply as well as an application for adjudication of the default with ROC.
The company received notice from ROC for default U/s 203(1) read with Rule 8A of Companies (Appointment and Remuneration of Managerial personnel) Rules 2014 regarding Non Appointment of whole time Company Secretary for the earlier period 01/04/2014 to 25/03/2015

Statutory Auditors:

M/s P. Chandrasekar LLP Chartered Accountants were appointed as theStatutory Auditors of the Company for a term of five consecutive years at the 24thAnnual General Meeting held on 29th August 2017 subject to annual ratificationby shareholders. However with the advent of Companies (Amendment) Act 2017 therequirement of annual ratification of the appointment of the Statutory Auditors of theCompany by the shareholders at the Annual General meeting has been done away with.Accordingly M/s P. Chandrasekar LLP Chartered Accountants will continue to be theStatutory Auditors of the Company for the FY 2019-20 and thereafter hence no resolutionis proposed for ratification of the appointment of Auditors who were appointed at theAnnual General Meeting held on 29th August 2017.

Secretarial Auditors:

Pursuant to the provisions of Section 204 of the Companies Act 2013and the Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014 (asamended from time to time) the Company has appointed Shri R. Parthasarathi CompanySecretary in practice to undertake the Secretarial Audit of the Company. The SecretarialAudit report is annexed herewith as Annexure - 2.

Cost Auditors

The provisions of Section 148 of the Companies Act 2013 read with theCompanies (Cost Records and Audit) Amendment Rules 2014(as amended from time to time) iscurrently not applicable to the company.

Significant and Material Orders Passed By the Regulators or Courts:

There are no significant material orders passed by the Regulators /Courts which would impact the going concern status of the Company and its futureoperations.

Declaration of Independent Directors:

The Company has received declarations from all the IndependentDirectors of the Company confirming that they meet the criteria of independence asstipulated in Section 149(6) of the Companies Act 2013 so as to qualify themselves to actas Independent Directors under the provisions of the Companies Act 2013 and the relevantrules.


Shri. Sushil Kumar Mundra and Shri. Satyanarayan Mundra Directorsretire by rotation and being eligible offer themselves for re appointment. Allindependent directors have given declarations that they meet the criteria of independenceas laid down under section 149 (6) of the Companies Act 2013 and Regulation 25(3) of SEBI(Listing Obligations and Disclosure Requirement) Regulations 2015. All Directors havegiven declaration relating to compliance with code of conduct.

Nomination and Remuneration &Compensation Committee and Policy:

As per the requirements of the provisions of the Companies Act 2013 aNomination and Remuneration & Compensation Committee of Directors was constituted bythe Board of Directors and the details of the Members of the Committee are disclosedelsewhere in this Annual Report. The Board has on the recommendation of the Nominationand Remuneration Committee framed a policy on Director's appointment and remunerationincluding criteria for determining qualification positive attributes independence of aDirector and other matters provided under sub-section (3) of Section 178. The said Policyis available on the website of the Company various web links of the company's policyis detailed under the head Policy.

Related Party Transactions:

All transactions of the Company with the related parties were in theordinary course of business and on an arm's length pricing basis. There were nomaterial significant related party transactions having potential conflict with theinterest of company.

The Policy on Related Party Transactions (including the revised policyapplicable for related party transactions effective April 01 2019) is available on theCompany's website and can be accessed at As prescribedby Section 134(3)(h) of the Companies Act 2013 read with Rule 8(2) of the Companies(Accounts) Rules 2014 particulars of contracts/ arrangements with related parties aregiven in Form AOC-2 annexed as Annexure - 1 to this report.

(A). Name of the related party and nature of relationship where controlexists:

Name of Related Party Nature of Relationship
M/s. Mundra enterprises Entity in which Director or KMP is related:
Mr. Sunil Laxminarayana Mundra
Mr. Laxminarayana mundra
Mr. Sathyanarayana mundra
Mr. Sushil kumar mundra
Mrs. Jyothi mundra

(B) (i) Related Party Transactions:

Amount Outstanding at the end of year
Name of Related Party Nature of Transaction Amount of Transaction Credit (Rs.) Current Year \(Previous Year) 2018-19 Debit (Rs.) Current Year\ (Previous Year) 2017-18
Mr. Sunil Laxminarayana Mundra Directors Remuneration 4260000 236340 267500
Mr. Laxminarayana Mundra Directors Remuneration 3000000 173370 152340
Mr. Sathyanarayana Mundra Directors Remuneration 3000000 173450 175930
Mr. Prasanna Junnarkar Salaries 1007145 63526 67227
Mr. Skandan p. Jain Salaries 427567 28790 29553
Mr. Sushil Kumar Mundra Sitting Fees 60000 - -
Mrs. Jyothi Mundra Sitting Fees 60000 - -
M/s. Mundra Enterprises Operating 162000 - 58320
M/s.Natural Drug Discoveries Pvt. Ltd Investment In Equity Shares 75000 75000 -

Material Changes and Commitments Affecting the Financial Position ofthe Company:

There is no material change or commitments after the closure of thefinancial year as on 31st March 2019 and till the date of this report.

Conservation Of Energy Technology Absorption Foreign ExchangeEarnings and Outgo:

The information pertaining to conservation of energy technologyabsorption Foreign Exchange Earnings and Outgo as required under section 134 (3) (m) ofthe Companies Act 2013 read with Rule 8(3) of the Companies (Accounts) Rules 2014 (asamended from time to time) is attached herewith as Annexure - 3 to this report.

Risk Management:

The Company follows a comprehensive and integrated risk managementprocess. The risk management process is designed to safeguard the organization fromvarious risks through adequate and timely actions. It is designed to anticipate evaluateand mitigate risks in order to minimize its impact on the business. The potential risksare inventoried and integrated with the management process such that they receive thenecessary consideration during decision making and are periodically reviewed and revisedby the Board of Directors.

Corporate Social Responsibility:

The Board has constituted a CSR Committee comprising of Shri Dr.C.M.Gurumurthy Shri Sunil L Mundra and Shri Sushil Kumar Mundra. The Annual Report onCompany's CSR activities of the Company is furnished in the prescribed format asAnnexure - 4 and attached to this report.

Board Evaluation:

The Companies Act 2013 states that a formal annual evaluation needs tobe made by the Board of its own performance and that of its committees and individualdirectors. Schedule IV of the Companies act 2013 states that the performance evaluationof independent directors shall be done by the entire Board of Directors excluding thedirector being evaluated. Pursuant to the provisions of the Act the Board has carried outan annual evaluation of its own performance the individual Directors (including theChairman) as well as an evaluation of the working of all Board Committees. The performanceevaluation was carried out on the basis of inputs received from all the Directors /Members of the Committees as the case may be.

The Independent Directors of the Company have also convened a separatemeeting for this purpose. All the results of evaluation have been communicated to theChairman of the Board of Directors.

SEBI (Listing Obligations and Disclosure Requirements) Regulations2015 mandates that the Board shall monitor and review the Board evaluation framework. Theframework includes the evaluation of directors on various parameters such as:

• Board dynamics and relationships

• Information flows

• Decision-making

• Relationship with stakeholders

• Company performance and strategy

• Tracking Board and committees effectiveness

• Peer evaluation

The evaluation process has been explained in the corporate governancereport. The Board approved the evaluation results as collated by the nomination andremuneration committee.

Corporate Governance:

Pursuant to Regulation 34 of the SEBI (LODR) Regulations 2015 Reporton Corporate Governance Management Discussion and Analysis Report and AuditorsCertificate regarding compliance of conditions of Corporate Governance provided inAnnexure - 5 in this Report and the same forms part of the Directors' Report.

Composition of Audit Committee and Vigil Mechanism / Whistle BlowerPolicy:

The Board has constituted an Audit Committee details of which areenumerated in the Corporate Governance Report. The Company has devised a vigil mechanismin the form of a Whistle Blower Policy in pursuance of provisions of Section 177(10) ofthe Companies Act 2013 and the policy is explained in corporate governance report. Duringthe year under review there were no complaints received under this mechanism.

Disclosure under the Sexual Harassment of Women at Workplace(Prevention Prohibition and Redressal) Act 2013:

The Company has in place a policy on Sexual Harassment of Women atWorkplace in line with the requirements of the Sexual Harassment of Women at Workplace(Prevention Prohibition and Redressal) Act 2013. An Internal Complaint Committee hasbeen set up to redress complaints received. All employees (permanent contractualtemporary trainees) are covered under this policy. There were no complaints received fromany employee during the financial year 2018 - 19.

Other Disclosure: a) details of establishment of vigil mechanismwhistle blower policy and affirmation that no personnel has been denied access to theaudit committee; b) details of compliance with mandatory requirements and adoption of thenon-mandatory requirements; c) web link where policy for determining ‘material'subsidiaries is disclosed; d) web link where policy on dealing with related partytransactions; e) a certificate from a company secretary in practice that none of thedirectors on the board of the company have been debarred or disqualified from beingappointed or continuing as directors of companies by the Board/Ministry of CorporateAffairs or any such statutory authority.

Particulars of Employees:

Disclosures with respect to the remuneration of Directors and employeesas required under Section 197 of Companies Act 2013 and Rule 5 of the Companies(Appointment and Remuneration of Managerial Personnel) Rules 2014 has been appended asAnnexure - 6 to this Report.

Employee Stock Option Schemes

Pursuant to Rule 12(9) of the Companies (Share Capital and Debentures)Rules 2014 read with Regulation 14 of the SEBI (Share Based Employee Benefits)Regulations 2014 The Company has implemented ESOP Scheme 2018 to reward and retain thequalified and skilled employees and to give them an opportunity to participate in thegrowth of the Company. These Schemes are administered by the Nomination Remuneration andCompensation Committee of the Company has been appended as Annexure - 7 to this Report

Subsidiaries Joint Ventures and Associate Companies:

A subsidiary company in the name of M/s Natural Drug DiscoveriesPrivate Limited has been incorporated on 29-09-2018 with the objective for conductingResearch and Development.

Internal Control Systems and Their Adequacy:

The Company has an adequate Internal Control System commensurate withits size and operations. Management has overall responsibility for the Company'sInternal Control System to safeguard the assets and to ensure reliability of financialrecords. Audit Committee reviews all financial statements and ensures adequacy of internalcontrol systems. The Company has engaged the services of an Independent CharteredAccountant to carry out the internal audit and ensure that recording and reporting areadequate and proper the internal controls exist in the system and that sufficientmeasures are taken to update the internal control system. The system also ensures that alltransaction are appropriately authorized recorded and reported. Exercises forsafeguarding assets and protection against unauthorized use are undertaken from time totime. The company has also installed an extensive CCTV Surveillance system to cover theentire factory premises. All these measures are continuously reviewed by the managementand as and when necessary improvements are affected.

Discussions on financial performance with respect to operationalperformance:

The Net Sales during the year was Rs. 5978.04 lakhs and your Companycould make Net Profit of Rs.192.04 Lakhs after tax.

No. of Employees:

31-03-2019 31-03-2018
HO 22 0 22 HO 22 0 22
UNIT-1 32 0 32 UNIT-1 29 0 29
UNIT-2 75 9 84 UNIT-2 73 10 83
UNIT-3 4 5 9 - - - -

*Unit 3 is established for the proposed API Project

Management Discussion and Analysis Report: 1.Industry structure anddevelopments:

During the year under review Indian Pharma Industry has grown by 9.4%.In domestic market the growth has been achieved mainly due to increase in value for pricecontrolled products but very less due to volume. At the same time despite variouschallenges the exports have increased by 11.46% hence demand for hard gelatin capsuleswill continue to remain robust in the domestic market. Demand in export front has beenimpacted by currency availability currency depreciation as in many of the emergingmarket. Your company during the Financial Year 2018-19 had a gross turnover of Rs. 7107.25Lakhs as against Rs. 6460.69 Lakhs in the previous year a marginal growth of 10.01 %.Profit before depreciation and taxation was Rs.526.59 Lakhs as against Rs.601.47 lakhs inthe previous year. The net profit of the Company for the year under review was placed atRs. 192.04 Lakhs as against Rs. 111.11 Lakhs previous year. Due to continuing challengeson export front and pricing pressure in domestic front and increase in other input costsmargins remained in lower percentages. Despite these challenges Profit after tax hasincreased by 72.83 % during the year under review.

Opportunities and threats:


1. Opening of export opportunities for HPMC capsules in variouscountries.

2. Increase in demand for capsules within the country due to JANAUSHADHI Programme of the Government.

3. New dosage formulations using hard capsules.

4. Company‘ new API project will market products which arecurrently being imported and hence will have good demand and margins.


1. Aggressive expansion & price competition from Chinese suppliers.

2.Increase in prices of raw material due to short supply in domesticmarket and higher import costs due to devaluation of Indian currency.

3. Slowdown in exports due to challenges in international economy.

c).Segment –wise or product wise performance is not relevant inview of the company having single product.


Based on the company's performance up to the date of this reportorders on hand and realizing the incremental capacity post up gradation of machines yourcompany is hopeful of achieving a turnover of around Rs. 7107.25 Lakhs in the currentyear. However due to increase in input costs company may still earn lower margins ascompared to earlier years. New API project once commissioned will give a big boost tocompany‘s revenue and profits.

e). Risks & Concerns

Risk of competition and exchange fluctuations may have an adverseimpact on the projections. Risk of delay in receiving payments for both local &international customers can lead to higher finance cost. Risk of short supplies of rawmaterial can cause loss of business to some extent.

f). Discussions on financial performance with respect to operationalperformance:

The Net Sales During the year was Rs.5978.04 Lakhs and your companycould make Net Profit of Rs. 192.04 Lakhs after tax.

2. Disclosure of Accounting in case of different from the prescribedAccounting Standards: No deviation

Management Discussion and Analysis: (in Lakhs except % Rate)
(h) Material developments in Human Resources / Industrial Relations front including number of people employed. N.A
(i) details of significant changes (i.e. change of 25% or more as compared to the immediately previous financial year) in key financial ratios along with detailed explanations therefor including: N/A
(i) Debtors Turnover 2.01
(ii) Inventory Turnover 9.46
(iii) Interest Coverage Ratio 6.53
(iv) Current Ratio 3.31
(v) Debt Equity Ratio 0.37
(vi) Operating Profit Margin (%) 3.15
(vii) Net Profit Margin (%)or sector-specific equivalent ratios as applicable. 3.21
(j) details of any change in Return on Net Worth as compared to the immediately previous financial year along with a detailed explanation thereof NIL
(j) the amounts if any which it proposes to carry to any reserves; NIL
Other Disclosures:
(k) total fees for all services paid by the listed entity and its subsidiaries on a consolidated basis to the statutory auditor and all entities in the network firm/network entity of which the statutory auditor is a part.] 300000


The Board acknowledges the continued assistance from the Bankers StateGovernments Local Bodies Customers Suppliers Executives Staffs workers at all levelsand the Shareholders for their continuous cooperation and assistance.

For and on Behalf of the Board
Sd/- Sd/-
Place : Bengaluru Sunil L Mundra Satyanarayan Mundra
Date : 30th May 2019 Managing Director Whole Time Director

Annexure - 1

Form AOC-2

[Pursuant to clause (h) of sub-section (3) of section 134 of the Actand Rule 8(2) of the Companies (Accounts) Rules 2014] Form for disclosure of particularsof contracts/arrangements entered into by the company with related parties referred to insub-section (1) of section 188 of the Companies Act 2013 including certain arm'slength transactions under third proviso thereto

1. Details of contracts or arrangements or transactions not atarm's length basis: N.A

2. Details of material contracts or arrangement or transactions atarm's length basis

a) Name(s) of the related party and nature of relationship M/s Mundra Enterprises Entity in which Director or KMP is related :Shri.Sunil L Mundra Shri. Laxminarayan Mundra
Shri.Sathyanaraya Mundra
b) Nature of contracts/arrangements/transactions Operating Lease Rental Payments
c). Duration of the contracts/ arrangements/transactions Transaction during the year ended March 31 2019
d) Date on which the special resolution was passed in general meeting as required under first proviso to section 188 N.A

Form AOC-1

(Pursuant to first proviso to sub-section (3) of section 129 read withrule 5 of Companies (Accounts) Rules 2014)

Statement containing salient features of the financial statement ofsubsidiaries/associate companies/joint ventures FINANCIAL YEAR 2018-19 Subsidiaries

SL.NO Particulars Details
1 Name of Subsidiary Natural Drug Discoveries (P) Ltd
2 Reporting period for the subsidiary concerned if different FY 2018-19
3 Reporting currency and exchange rate as on the laste date of the relevant finacial year incase of of subsidiaries INR
4 Share capital 100000
5 Reserves & surplus 0
6 Total assets 138186
7 Total Liabilities 138186
8 Investments 0
9 Turnover 0
10 Profit /(Loss) before taxation 0
11 Provision for taxation 0
12 Other comprehensive income for the period 0
13 Profit /(Loss) after taxation 0
14 Proposed Dividend 0
15 % of shareholding 75%
16 Names of subsidiaries which are yet to commence operations : Natural Drug Discoveries (P) Ltd
17 Names of subsidiaries which have been liquidated or sold during the year : N.A