NITIN CASTINGS LIMITED Your directors have pleasure in presenting the March 2022.operations of the Company together with the Audited Financial Statements for the financialyear ended 31 39th (Thirty Ninth) Annual Report on the businessand
1. FINANCIAL RESULT to the previous year is summarized below: The financialperformance of the Company for the financial year ended 31st March 2022 as compared
(Rs. in Lakhs)
|Particulars Total Revenue ||Current 9866.30 Year ||Previous 6346.57 Year |
|Expenditure (excluding Depreciation and Amortization) ||9013.81 ||5734.21 |
|Earnings before Depreciation and Depreciation and Taxes Amortization ||852.49 200.13 ||612.37 221.19 |
|Tax expenses including Deferred tax Earnings before Taxes ||652. 136.36 ||391 65.17 43 |
|Add : Balance brought forward from previous year ProfitafterTaxes ||2327.59 516.00 ||1991 325.75 37 |
|Add: (Less) Adjustment of prior years Add : Other Comprehensive Income ||3.12 - ||8.87 1.6 |
|Less: Proposed Dividend (Including tax) on Equity Shares ||(25.71) || |
|Net Balance carried to Profit & Loss Account ||2821.00 ||2327.59 |
2. OPERATING RESULT & PROFIT During the year under review yourCompany has registered a Turnover of Rs. 9866.30 Lakhs as against Rs. 6346.57Lakhs in the previous year. The Profit before taxes in the current year isRs. 652.36 Lakhs as againstas against Rs. 391.18 Lakhs in the previous year andprofit after taxes are Rs. 516.00 Lakhs Rs. 325.75 Lakhs in the previousyear.
3. FINANCE focus on judicious management of its working capital. Receivablesinventories and other workingCash and cash equivalents as at 31st March 2022 was Rs.250.91 Lakhs. The company continues to capital parameters were kept under strict checkthrough continuous monitoring.
4. DIVIDEND Your Directors recommended a dividend ended 31st March 2022amounting to Rs. 0.50/- per equity share (10%) for the financial yearmembers at the ensuing Annual General Meeting. Rs. 25.71 Lakhs. The dividend payoutis subject to approval of The dividend will be paid to members whose name appear in theRegister of Members as on whose22 Services (India) Limited as beneficialowners as on that date. nd September names are2022 furnishedinrespect of shares held in dematerialized form it will be paid to membersby NationalSecurities Depository Limited and Central Depository
5. TRANSFER TO RESERVES
During the year under review the Company does not propose to transfer any amount tothe General Reserve/ Retained earnings of the Company.
6 SHARE CAPITAL. During the year under review the paid-up Equity Share Capital ason March 31 2022 is Rs. 257.07: Lakhs comprising of 5141330 shares with the facevalue of Rs. 5/- per share.
7 DIRECTORS & KEY MANAGERIAL PERSONNEL. As per the provisions of Section 203of the Companies Act 2013 Ms. Shruti Laud (ACS: 38705) tenderedPursuant to herresignation Ms. Muskan Jain (ACS-63380) was appointed as the Company Secretaryherresignation as Company Secretary of the Company with effect from June 18 2021 of theCompany with effect from December 06 2021. Directors would like to place on record theirhighest gratitude and appreciation for the guidanceWith deep regret we report the saddemise of our CFO Mr. Murlidhar Gupta on 12th June 2022. Your given by Mr. Gupta to theBoard during his tenure as a CFO. the Listing Regulations given in the explanatorystatement to the Notice convening the 39th AnnualThe disclosures pertaining to Directorsbeing re-appointed as required pursuant to Regulation 36 of General Meeting of the Companyfor reference of the shareholders. of Nomination and Remuneration Committee (NRC). Theaforesaid appointment and resignation were made by the Board pursuant to therecommendation independence as prescribed under Section 149(6) of the Act and Regulation16(1)(b) of Securities andAll the Independent Directors of the Company have givendeclarations that they meet the criteria of opinion of the Board there has been no changein the circumstances which may affect their statusExchange Board of India (ListingObligations and Disclosure Requirements) Regulations 2015. In the experience of allIndependent Directors on the Board. as Independent Directors of the Company and the Boardis satisfied of the integrity expertise and amended w.e.f. 1st December 2019 allIndependent Directors of the Company viz. Mr. Ravi NevatiaPursuant to Rule 6 of Companies(Appointment and qualification of Directors) Rules 2014 as databankMrs. BarkharaniNevatia Mr. Arvind Jalan have registered themselves in the IndependentDirectorsmaintained with the Indian Institute of Corporate Affairs (IICA). In the opinionof the experience including the proficiency required to discharge the duties andresponsibilities as Directors Board of Directors of the Company all Independent Directorspossess high integrity expertise and of the Company. Company subject to the approval ofthe shareholders of the Company. His tenure as Chairman andMr. Nitin Kedia (DIN:00050749) was re-appointed as Chairman and Managing Director of the reappointment asChairman and Managing Director for a further period of five years w.e.f. May 27 ManagingDirector will be for 5 years. As recommended by NRC the Board has recommended his 2022 onthe remuneration and terms and conditions mentioned in the notice of this AGM
8. MANAGEMENT DISCUSSION AND ANALYSIS In terms of the provisions ofRegulation 34 REPORT of the SEBI (Listing Obligations and Disclosure Report.Requirements) Regulations 2015 the Management's discussion and analysis is set out inthis Annual
9. BOARD MEETINGS
The Board met 5 times during the year. The details of meetings of Board of Directorsare provided in period prescribed under Act. the Corporate Governance of thisReport. The intervening gap between the meetings was within the
10. CORPORATE GOVERNANCE A report on Corporate Governance along with aCertificate from M/s. GMJ & Co. Chartered SEBI (Listing Obligations and DisclosureRequirements) Regulations 2015 is presented in a separate Accountants in practiceregarding compliance of the requirements of Corporate Governance under contain anyqualification reservation or adverse remark. section forming part of the Annual Report.The auditors' certificate for fiscal 2021-2022 does not
11. LISTING OF SHARES AND DEMATERIALIZATION The Company's shares are listedand traded at BSE Limited and its scrip code is 508875 and ISIN No. INE861H01020
12. RISK MANAGEMENT The company has developed and implemented Risk ManagementPolicy consistent with the provisions identify the elements of risk which maythreaten the existence of the Company and possible solutionsof the Act and the SEBI(Listing Obligations and Disclosure Requirements) Regulations 2015 to to mitigate therisk involved.
13. FUTURE OUTLOOK The Company's plans for securing the growth is under way andappropriate action will be taken in future at appropriate time for futuredevelopment.
14. PUBLIC During the year under review the Company did not raise funds by way ofPublic deposits and as suchDEPOSITS no amount of principal or interest wasoutstanding as on the balance sheet date.
15. MATERIAL CHANGES AND COMMITMENTS AFFECTING FINANCIAL POSITION BETWEEN THE END OFTHE FINANCIAL YEAR AND DATE OF THE REPORTs There are no material changes andcommitments affecting the financial position of the Company which have occurred betweenthe end of the financial year 2021-22 and the date of this report
16. FIXED DEPOSIT During the year under review the Company has not raisedany funds by way of fixed deposits and as such no amount of principal or interest wasoutstanding as of the balance sheet date.
17. ANNUAL EVALUATION OF BOARD PERFORMANCE AND ITS COMMITTEE AND INDIVIDUAL
DIRECTORS Criteria of performance evaluation of the Board Committees and Directorsare laid down by of the Companies (Amendment) Act 2017 NRC decided to continue existingmethod of performanceNomination and Remuneration Committee (NRC) of the Company. Furtherpursuant to provisions 5th January 2017 and that only Board should carry out performanceevaluation of Board Committeesevaluation through circulation of performance evaluationsheets based on SEBI Guidance Note dated and Individual Directors. performance evaluationalong with rating scale was circulated to all the Directors. The DirectorsAn assessmentsheet based on aforesaid SEBI Guidance Note containing the parameters of torated theperformance against each criteria. Thereafter consolidated score was arrived. Pursuanttheprovisions of the Companies Act 2013 and Listing Regulations the Board has carried outperformanceevaluation of all Directors in the said manner. evaluation of its ownevaluation of working of the Committees and performance Independent Directors and theBoard as a whole through performance evaluation sheets. Directors inter-alia reviewedperformance of Non-Executive Independent Chairman and other Non-
18. DIRECTORS' STATEMENT Pursuant to the provisions of Section 134(3)(c) and134(5) of the Companies Act 2013 your DirectorsRESPONSIBILITY by them state andconfirm that: to the best of their knowledge and belief and according to the informationand explanations obtained
(a) Infollowed along with proper explanation relating to material departures; thepreparation of the annual accounts the applicable accounting standards had been
(b) The Directors have selected such accounting policies and applied themconsistently and madejudgments and estimates that are reasonable and prudent so asto give a true and fair view of company for that period; the state of affairs of thecompany at the end of the financial year and of the profit and loss of the
(c) records in accordance with the provisions of this Act for safeguarding the assetsof the companyThe Directors have taken proper and sufficient care for the maintenance ofadequate accounting and for preventing and detecting fraud and other irregularities; (d)The Directors have prepared the annual accounts on a going concern basis;
(e) adequate and were operating effectively. That proper internal financial controlswere in place and that the financial controls were
(f) That systems to ensure compliance with the provisions of all applicable laws werein place andwere adequate and operating effectively.
19. POLICY ON DIRECTORS APPOINTMENT AND THEIR REMUNERATION The Board has onthe recommendation of the Nomination & Remuneration Committee framed a policyforpolicy is uploaded on the website of the Company and web-link thereto ishttp://www.nitincastings. selection and appointment of Directors Senior Management andtheir remuneration. The said com/codeofconduct.html The Remuneration Policy is stated inthe Corporate Governance Report.
20. DECLARATION OF INDEPENDENCE Criteria of performance evaluation of theBoard Committees and Directors are laid down by of the Companies (Amendment) Act 2017NRC decided to continue existing method of performanceNomination and RemunerationCommittee (NRC) of the Company. Further pursuant to provisions 5th January 2017 and thatonly Board should carry out performance evaluation of Board Committeesevaluation throughcirculation of performance evaluation sheets based on SEBI Guidance Note dated andIndividual Directors. performance evaluation along with rating scale was circulated to allthe Directors. The DirectorsAn assessment sheet based on aforesaid SEBI Guidance Notecontaining the parameters of torated the performance against each criteria. Thereafterconsolidated score was arrived. Pursuantthe provisions of the Companies Act 2013 andListing Regulations the Board has carried out evaluation of all Directors in the saidmanner. performance evaluation of its own evaluation of working of the Committees andperformance meet the criteria of independence as prescribed under Section 149(6) of theCompanies Act 2013 readYour Company has received declarations from all the IndependentDirectors confirming that they and Disclosure Requirements) Regulations 2015 withSchedules and Rules issued thereunder and under Regulation 25 of the SEBI (ListingObligations
21. REMUNERATION TO NON-EXECUTIVE / INDEPENDENT DIRECTORS
The Board has on the recommendation of the Nomination & Remuneration Committeeframed a policyforpolicy is uploaded on the website of the Company and web-linkthereto is http://www.nitincastings. selection and appointment of Directors SeniorManagement and their remuneration. The said Report. com/pdf/Remuneration_Policy.pdf TheRemuneration Policy is stated in the Corporate Governance details in terms of sub-section12 of Section 197 of the Companies Act 2013 read with Rule 5(1) of theThe ratio of theremuneration of each director to the median employee's remuneration and other Companies(Appointment and Remuneration of Managerial Personnel) Rules 2014:
|Sr NO.. Requirements ||Disclosures || |
|I. The ratio of the remuneration director to the median remuneration of of each the employees for the financial year 2021-22 ||Name of Director ||Ratio to median remuneration |
| ||Mr. Nitin Kedia ||60.00 Lakhs |
| ||Mr. Nirmal Kedia ||60.00 Lakhs |
| ||Mr. Nipun Kedia ||18.90 Lakhs |
| ||Mr. Arvind Jalan ||Nil |
| ||Mr. Ravi Nevatia ||0.50 Lakhs |
| ||Mrs. Barkharani Nevatia ||0.50 Lakhs |
|II. each directors CFO CEO CS in the financial The percentage increase in remuneration of year ||NIL || |
|III. remuneration The percentage of employees of increase in the in Financial median year ||NIL || |
|IV. payroll of the Company The number of permanent employees on the ||227 as on March 31 2022 || |
|V. average The explanation on the relationship between increase in remuneration and Company performance ||Not applicable || |
|VI. Comparison Key Managerial of the Personnel remuneration against of the the performance of the Company ||Not applicable || |
|VII. the Variations Company in price the market earnings capitalization ratio as at the of FY closing date of the current FY and previous and percentage increase over decrease Company in comparison to the rate at which in the market quotations of the shares of the the offer Company came out with the last public ||as compared to Rs. 6346.57 lakhs. PBT for the Turnover of current year is Rs. 9866.30 lakhs to Rs. 391.17 lakhs last year PAT for the current current year is RS. 652.36 lakhs as compared year 325.75 lakhs last year is RS. 516.00 lakhs as compared to Rs. |
|VIII. Average percentiles increase already made in the salaries of employees other than the managerial personnel in the last financial year and its comparison with the percentile increase in the managerial remuneration and justification thereof and point out if there are any exceptional circumstances for increase in the managerial remuneration; ||Not applicable |
|IX. Comparison of each remuneration of the Key Managerial Personnel against the performance of the Company ||Not applicable for the financial year 2021-22 in order to conserve the profit |
|XII. Affirmation that the remuneration is as per the remuneration policy of the Company ||Yes it is confirmed. |
22. SEPARATE INDEPENDENT DIRECTORS' MEETINGS In accordance with the Regulation 25of SEBI (Listing Obligations and Disclosure Requirements) of Regulations 2015 theindependent directors have to meet at least once in a year without the presenceExecutiveDirectors or Management representatives. Accordingly the Independent Directors convened ameeting on 24th March 2022 to assess and evaluate the overall performance of the Board.
23. FAMILIARIZATION PROGRAMME FOR INDEPENDENT DIRECTORS: The Companyproactively keeps its Independent Directors informed of the activities of the Companyfaced by the industry. The said policy is uploaded on the website of the Company andweb-link theretoits management and operations and provides an overall industry perspectiveas well as issues being is http://www.nitincastings.com/familiarization.html.
Pursuant to the provisions of the Companies Act 2013 and Regulation 17 (10) SEBI LODRthe Board& COMMITTEE EVALUATION as well as the evaluation of the working of itsCommittees. The manner in which the evaluation hashas carried out an annual performanceevaluation of its own performance the directors individually been carried out has beenexplained in the Corporate Governance Report. obligations and disclosure requirements)Regulations 2015 the Board has carried out an evaluation Pursuant to the provisions ofthe Companies Act 2013 and under Regulation 25 of the SEBI (Listing committee Nomination& Remuneration Committees. The manner in which the evaluation has beenof its ownperformance the directors individually as well as the evaluation of the working of itsAudit carried out has been explained in the Corporate Governance Report.
25. AUDIT COMMITTEE During the year under review the Audit Committeecomprises of 3 members viz. Mr. Ravi Nevatia
Ms. Barkharani Nevatia Independent Director. Chairman of the Committee and IndependentDirector Mr. Arvind B. Jalan Independent Director and during the financial year2021-2022. All the recommendations made by the Audit Committee were deliberated andaccepted by the Board
26. STATUTORY AUDITORS M/s. GMJ & Associates Chartered Accountants havetendered their resignation from the position of & Statutory Auditors due tounavoidable circumstances Board proposes that M/s. Jhunjhunwala JainAssociates LLPChartered Accountant Mumbai (FRN # 113675W/ W100361) be appointed as AssociatesChartered Accountants. the Statutory Auditors of the Company to fill the vacancy caused bythe resignation of M/s. GMJ & along with a confirmation that their appointment ifmade by the members would be within the W100361) have conveyed their consent to beappointed as the Statutory Auditors of the Company limits prescribed under the CompaniesAct 2013. at every Annual General Meeting was omitted vide notification dated 7th May2018 issued by The requirement to place the matter relating to appointment of Auditorsfor ratification by Members appointment of Auditors in the ensuing AGM of the Company. theMinistry of Corporate Affairs. Accordingly no resolution is proposed for ratification ofthe
27. STATUTORY AUDITORS REPORT: The Auditors' Report on Financial Statementsfor the year ended 31st March 2022 forms part of this comments. Annual Report. Notes tothe Financial Statements are self-explanatory and do not call for any further
28. SECRETARIAL AUDITOR Pursuant to provisions of section 204 of the Companies Act2013 and The Companies (Appointment a firm of Company Secretaries in Practice to undertakethe Secretarial Audit of the Company. The and Remuneration of Managerial Personnel) Rules2014 the company has appointed Kala Agarwal Secretarial Audit Report issued bythem in Form No. MR-3 has been annexed to this Report. 2019 issued by Securities andExchange Board of India (SEBI) Ms. Kala Agarwal Practicing CompanyFurther in terms ofthe provisions of the Circular No. CIR/ CFD/CMD1/27/2019 dated 8th February March 2022thereby confirming compliance of the applicable SEBI Regulations and circulars /Secretaries have issued the Annual Secretarial Compliance Report for the financial yearended 31st guidelines issued thereunder by the Company.
Disclosure Requirements) Regulations 2015 the intimation required under clause (a) ofsub- Pursuant to Regulation 29(2) of Securities and Exchange Board of India (ListingObligations And Results of the Company is to be considered and approved. regulation (1) ofRegulation 29 shall be given at least five days in advance wherein the Financial
The intimation for Board Meeting held on 30.06.2021 was given to Stock Exchange on25.06.2021.
SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 on 16th July2021. The The Company requested for waiver of fine imposed for late/noncompliances under Regulation 29 of Waiver and the Company's request for waiver of the finewas approved pursuant to mail received Company's representation for waiver of fine wasplaced before the "Internal Committee for Fine from BSE Limited dated 06.05.2022.
29. ANNUAL In accordance with Sections 92(3) read with 134(3)(a) of the Act theAnnual Return of the Company RETURN annualreport.html. as on March 312022 isavailable on the website of the Company at: http://www.nitincastings.com/
30. DISCLOSURE RELATING TO SUBSIDIARY COMPANIES / ASSOCIATE COMPANIES / JOINT VENTURES:The Company does not have any Subsidiary Company / Associate Company / Joint Ventures.
(Accounts) Rules 2014 Form AOC-1 is annexed to this report as Annexure II.However Pursuant to first proviso to sub-section (3) of section 129 read with rule 5 ofCompanies
31. PARTICULARS OF CONTRACTS & ARRANGEMENTS WITH RELATED PARTIES: Allrelated party transactions that were entered into during the financial year were on anarm's length basis and were in the ordinary course of business.
Directors Key Managerial Personnel or other designated persons which may have apotential conflict There are no materially significant related party transactions made bythe Company with Promoters
Transactions and is uploaded on the website of the Company athttp://www.nitincastings.com/pdf/ with the interest of the Company at large. Your Companyhas adopted a policy on Related Party Related_Party_Transaction_Policy.pdf the Companies(Accounts) Rules 2014 Form AOC-2 is annexed to this report as Annexure III.Pursuant to the provisions of section 134 (3) (h) of the Companies Act 2013 read withRule 8 (2) of Related Party Transactions is reviewed by the Audit Committee and Board onquarterly basis. Your Prior approval of Audit Committee is obtained for all Related PartyTransactions. A statement of all Company athttp://www.nitincastings.com/pdf/Related_Party_Transaction_Policy.pdf. Company has adopteda policy on Related Party Transactions and is uploaded on the website of the
32. INTERNAL AUDIT SYSTEM The Company's internal Auditors had conductedperiodic audit to provide reasonable assurance that the Company's established policies andprocedure have been followed.
33. INTERNAL CONTROL SYSTEM AND ITS ADEQUACY The Company has a proper andadequate internal control system for all its activities including transaction are properlydocumented authorized recorded and reported correctly. The Companysafeguarding andprotecting its assets against any loss from its unauthorized use or disposition. Allcontinuously and its improvement and effectiveness is enhanced based on the reports fromvarioushas well defined Management Reports on key performance indicators. The systems arereviewed insurance. fields. Normal foreseeable risks to the company's assets areadequately covered by comprehensive
34. PUBLIC DEPOSITS
During the year under review your Company has not accepted any deposits from publicunder Chapter V of the Act.
35. SUBSIDIARIES During the year under review your Company does not haveany subsidiaries or joint ventures or associate companies as defined under the Act.
36. PARTICULARS OF EMPLOYEES In terms of the provisions of Section 197(12)of the Companies Act 2013 and the Companies annexed to this Directors report.(Particulars of Employee) Rules 1975 names and other particulars of the employeesrequired is
37. ENVIRONMENT PROTECTION AND POLLUTION CONTROL The Company has always beensocially conscious corporate and has always carried forward all its operations andprocedures following environment friendly norms with all necessary clearances.manufacturing of Castings. Your Company has taken the following steps towards environmentand Ecological balance in
? environment pollution free. Continuous plantation activities in and around theFactory as usual has helped in keeping the
38. CONSERVATION OF ENERGY The Company has taken all possible measures forthe conservation of energy by undertaking melting operations in consolidated andeconomical lot sizes for optimum utilizations of furnace.
39. FOREIGN EXCHANGE EARNING AND OUTGO the Note No. The information regarding theforeign exchange earnings and outgo is contained in
42 in the Notes to Account section.
40. SIGNIFICANT OR MATERIAL ORDERS PASSED BY REGULATORS / COURTS During theyear under review no significant or material orders were passed by the Regulators orCourts or Tribunals which impact the going concern status and Company's operations infuture.
41. PREVENTION OF SEXUAL HARASSMENT OF WOMEN AT WORKPLACE In order toprevent sexual harassment of women at workplace your Company has adopted a policy underthe Sexual Harassment of Women at Workplace (Prevention Prohibition and Redressal)Actfor prevention of Sexual Harassment of Women at workplace and has set up an InternalCommittee During the year under review your Company has not received any complaintpertaining to sexual2013 to look into the complaints relating to sexual harassment atworkplace of any woman employee. harassment and no complaint was pending as on 31st March2022.
42. VIGIL MECHANISM/ WHISTLE BLOWER In termsof Section 177 (9) of the CompaniesPOLICYAct 2013 Rule 7 of the Companies (Meeting of the Requirements) Regulations 2015 theCompany has a vigil mechanism named to deal with instance of Board and its Powers) Rules2014 and Regulation 22 of SEBI (Listing Obligations and Disclosure and in line with ourvision of being one of the most respected companies in India the Company isfraud andmismanagement if any. In staying true to our values of strength performance and passionMechanismcommitted to the high standards of Corporate Governance and stakeholderresponsibility. The Vigil/ Whistle Blower Policy may be accessed on the Company's websiteat http://www. nitincastings.com/pdf/Whistle_Blower_Policy.pdf. mismanagement if any. TheFRM Policy ensures that strict confidentiality is maintained whilst The Company has aFraud Risk and Management Policy to deal with instances of fraud and raised concern. Ahigh level Committee has been constituted which looks into the complaints raised.dealingwith concerns and also that no discrimination will be meted out to any person for agenuinely The Committee reports to the Audit Committee and the Board.
43. DETAILS IN RESPECT OF FRAUDS REPORTED BY AUDITORS UNDER SUB-SECTION (12) OF SECTION143 OTHER THAN CENTRAL GOVERNMENT During the year under review no frauds werereported by Auditors under sub-section (12) of section 143.
44. PARTICULARS OF LOANS GUARANTEES OR INVESTMENTS UNDER SECTION 186 During theyear under review Loans guarantees and investments covered under Section 186 oftheCompanies Act 2013 are NIL as on 31.03.2022.
45. PREVENTION OF INSIDER TRADING The Company has adopted a Code of Conductfor Prevention of Insider Trading with a view to regulate pre-clearance for dealingin the Company's shares and prohibits the purchase or sale of Companytrading in securitiesby the Directors and designated employees of the Company. The Code requiressharessensitive information in relation to the Company and during the period when theTrading Window isby the Directors and the designated employees while in possession ofunpublished price employees have confirmed compliance with the Code.
46. SECRETARIAL STANDARDS During the yearunder review your Company hascomplied with all the applicable secretarial by Secretarial Auditors of the Company in theSecretarial Audit Report. standards issued by the Institute of Company Secretaries ofIndia. The same has also been confirmed
1. Company during the year under review. The provisions pertaining toCorporate Social Responsibility (CSR) were not applicable to the
2. corporate insolvency resolution process initiated under the Insolvency andBankruptcy CodeAs required in terms of Secretarial Standard (SS)-4 it is herebyconfirmed that there is no
47. ACKNOWLEDGEMENTS The Directors place on the record their appreciation ofthe contribution made by the employees at all the Company to achieve the desired resultsduring the year. levels who through their competence diligence solidarity co-operationand support have enabled Bankers Central and State Government Departments ShareholdersSuppliers and Customers. The Board of Directors gratefully acknowledge the assistance andco-operation received from the
|FOR NITIN CASTINGS LIMITED ||FOR NITIN CASTINGS LIMITED |
|NITIN KEDIA ||NIRMAL KEDIA |
|CHAIRMAN & MANAGING DIRECTOR ||DIRECTOR |
|DIN: 00050749 ||DIN: 00050769 |
|Date: 26th August 2022 || |
|Place: Mumbai || |