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Oriental Trimex Ltd.

BSE: 532817 Sector: Others
NSE: ORIENTALTL ISIN Code: INE998H01012
BSE 00:00 | 18 Jan 12.63 -0.38
(-2.92%)
OPEN

13.09

HIGH

13.30

LOW

12.45

NSE 00:00 | 18 Jan 12.55 -0.50
(-3.83%)
OPEN

12.50

HIGH

13.35

LOW

12.50

OPEN 13.09
PREVIOUS CLOSE 13.01
VOLUME 30033
52-Week high 16.94
52-Week low 5.00
P/E
Mkt Cap.(Rs cr) 36
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 13.09
CLOSE 13.01
VOLUME 30033
52-Week high 16.94
52-Week low 5.00
P/E
Mkt Cap.(Rs cr) 36
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Oriental Trimex Ltd. (ORIENTALTL) - Director Report

Company director report

To the Members

The Directors have pleasure in presenting before you the 25th Annual Report of theCompany together with the Audited Statements of Accounts for the year ended 31st March2021.

FINANCIAL SUMMARY/HIGHLIGHTS OPERATIONS STATE OF AFFARIS:

The performance during the period ended 31st March 2021 has been as under

(Rs. In Lakhs)

Particulars Year ending 31s' March 2021 Year ending 31st March 2020
Net Income 2037.52 7616.43
EBIDTA 349.06 846.97
Less: Interest 461.37 452.97
Less: Depreciation 176.73 146.70
Profit/Loss before Tax (259.04) 247.30
Tax expenses 133.11 42.32
Profit/Loss After Tax (392.15) 204.99
Profit/Loss Available for Appropriation (396.72) 208.42
Appropriations
- General Reserves 0 0
Balance Carried Forward to Balance Sheet (396.72) 208.42

Oriental's marble processing facilities are based at Greater Noida near Delhi inNational Capital Region Gumidipoondi near Chennai and Singur near Kolkata in WestBengal. All the three facilities are fully integrated processing facilities equipped withstate-of-the-art machineries namely Gangsaws automatic Resin Lines with robotic feedsimported from SEI Italy one of the pioneers and leaders in manufacturing machineries forthe marble industry imported automatic Line Polishers and imported Grinding Machines.Thus ensuring that the marble processed by Oriental Trimex is similar to the quality ofmarble processed in Europe and elsewhere.

Marble supplied by Oriental is preferred by well known architects major corporate inthe building and construction industry hotels hospitals shopping malls commercialretail and residential projects. Oriental has procured processed and supplied marble tothe major developers contractors hotels and institutional buyers in the Northern regionincluding the Delhi NCR Southern Region including Bangalore and Chennai and the EasternRegion including Kolkata.

Company is presently operating with its own Sales and Marketing Outlets includingfactories at Greater Noida Chennai and Kolkata for meeting growing demand of ImportedMarble. Company is the only processor and supplier of Imported Marble having a PAN IndiaPresence.

Company has its own team of qualified and experienced Marketing staff at all itslocations headed and controlled by your Managing Director.

Business performance of the company is directly related with real-estate sector &infrastructure which has entirely slashed down due to pandemic COVID-19. While theimmediate months and quarters ahead of us continue to be partly uncertain I do retain mymeasured optimism about our future. Our country is steadily expanding vaccinationcoverage which is our best hope of blunting the third wave and eventually putting thedeleterious effects of the pandemic behind us. Once we push beyond that the futureappears favourable. I wish all of you and your families safety and good health. Due tothis pandemic effect the revenue of the company decreased by 73.25% in comparison toprevious year. The profit/(loss) of the company before tax is Rs. (259.04) Lacs losscomparable to Rs. 247.30 lacs Profit last year.

CHANGE IN THE NATURE OF BUSINESS

There is no Change in the nature of the business of the Company during the year underreview.

MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY WHICHHAVE OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR OF THE COMPANY TO WHICH THE FINANCIALSTATEMENTS RELATE AND THE DATE OF THE REPORT;

There is no such material change and commitment.

DIVIDEND

In view of conservation of financial resources of the Company your Directors do notrecommend any dividend for the financial year under review.

TRANSFER TO RESERVE

The Board does not recommend transferring any amount to the reserve.

THE COVID-19 PANDEMIC

The year started amidst a strict nationwide lockdown in India with tough restrictionson economic activity and mobility. The Company and indeed the entire real estate sectorin India saw a collapse in construction activity following the lockdown. At that timethere was an unprecedented uncertainty about the eventual impact of the Covid- 19pandemic. This included meeting safety and health related challenges of its peopleensuring business continuity under lockdown and adapting the organisation to ramp- upoperations as restrictions were gradually lifted.

The Company is actively monitoring the impact of the Covid-19 pandemic on its financialcondition liquidity operations suppliers industry and workforce. It has used theprinciples of prudence in applying judgments estimates and assumptions based on thecurrent estimates. In assessing the recoverability of assets such as goodwillinventories financial and other assets based on current indicators of future economicconditions the Company expects to recover the carrying amounts of its assets. The extentto which Covid-19 impacts the operations will depend on future developments which remainuncertain. Besides this no material changes and commitments have occurred after the closeof the year till the close of this Report which affects the financial position of theCompany

SHARE CAPITAL

During the year under review your there are no change in share capital of the Company. BOARDMEETINGS

The Board of Directors duly met five times during the year on 31.07.2020 14.08.202004.09.2020 31.10.2020 and 12.02.2021 in respect of which meetings proper notices weregiven and the proceedings were properly recorded and signed in the Minutes Book maintainedfor the purpose.

DIRECTOR AND KEY MANAGERIAL PERSONNEL

Mrs. Savita Punia (DIN: 00010311) was appointed as Whole-time Director of the Companyw.e.f. 01.04.2020 for the period of 5 years and Mr. Rajesh Kumar Punia (DIN: 00010289)re-appointed as Managing Director of the Company w.e.f 01.01.2021 for the period of 5years.

Ms. Divya Bisht appointed as Company Secretary & Compliance w.e.f. 14.08.2020 andresigned as Company Secretary & Compliance Officer of the Company w.e.f close of thebusiness hours of 26.10.2020.

Mr. Baldev Kumar Lakhanpal Director (DIN: 08144265) retired by rotation and offeredhimself for re-appointment at the ensuing Annual General Meeting.

DECLARATION FROM INDEPENDENT DIRECTORS ON ANNUAL BASIS

The Company has received a declaration from Mr. Vivek Seth Mr. Jitendra SurendraGupta and Mr. Aditya Gupta Independent directors of the company to the effect that theyare meeting the criteria of independence as provided in Sub-section (6) of Section 149 ofthe Companies Act 2013.

AUDIT COMMITTEE AND OTHER BOARD COMMITTEES

The details pertaining to the composition of the Audit Committee and other BoardCommittees and their roles terms of reference etc. are included in the CorporateGovernance Report which forms part of this Annual Report.

VIGIL MECHANISM AND COMPOSITION OF AUDIT COMMITTEE

Vigil Mechanism Policy has been established by the Company for directors and employeesto report genuine concerns pursuant to the provisions of section 177(9) & (10) of theCompanies Act 2013.

DIRECTOR'S RESPONSIBILITY STATEMENT

In pursuance of section 134 (5) of the Companies Act 2013 the Directors herebyconfirm that:

a) In the preparation of the annual accounts the applicable accounting standards hadbeen followed along with proper explanation relating to material departures;

b) The Directors had selected such accounting policies and applied them consistentlyand made judgments and estimates that are reasonable and prudent so as to give a true andfair view of the state of affairs of the company at the end of the financial year and ofthe profit and loss of the company for that period;

c) The Directors had taken proper and sufficient care for the maintenance of adequateaccounting records in accordance with the provisions of this Act for safeguarding theassets of the company and for preventing and detecting fraud and other irregularities;

d) The Directors had prepared the annual accounts on a going concern basis; and

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.

STATUTORY COMPLIANCE

The Company has complied with the required provisions relating to statutory compliancewith regard to the affairs of the Company in all respects.

SUBSIDIARIES JOINT VENTURES ASSOCIATES COMPANY

The Company has not any Subsidiaries Associates or Joint Ventures ANNUAL RETURN

In terms of Section 92(3) of the Companies Act 2013 read with Rule 12 of the Companies(Management & Administration) Rules 2014 the Annual Return in Form MGT -7 isavailable on the Company's website www.orientaltrimex.com and can be accessed athttp://www.orientaltrimex.com/investors/Form_MGT_7.pdf.

STATUTORY AUDITOR'S REPORT

There are no reservations qualifications adverse remarks or disclaimers in theIndependent Auditor's Report. The notes forming part of the accounts are self explanatoryand do not call for any further clarifications under Section 134 (3) (f) of the CompaniesAct 2013.

STATUTORY AUDITOR'S

Members at their 24th Annual General Meeting held on 30th September 2020 had appointedM/s. S. Agarwal & Co. Chartered Accountants New Delhi (Firm Registration No. .000808N) as Independent Auditors of the Company from the conclusion of 24th Annual GeneralMeeting until conclusion of 29th Annual General Meeting of the Company. They haveconfirmed that they are not disqualified from continuing as Auditors of the Company.

REPORTING OF FRAUDS BY AUDITORS

During the year under review no instance of fraud has been reported by any of theAuditors of the Company under Section 143(12) of the Companies Act 2013 to the AuditCommittee/ Board of Directors or to the Central Government. Therefore no detail isrequired to be disclosed under Section 134(3)(ca) of the Companies Act.

SECRETARIAL AUDIT

Pursuant to the provisions of Section 134(3)(f) & Section 204 of the Companies Act2013 Secretarial Audit Report as provided by M/s. Pooja Malhotra & Co (COP22704)Practicing Company Secretaries is annexed to this Report as Annexure-I

The Secretarial Auditors' Report is self-explanatory and the comments thereon do notrequire any reply from the Board of Directors of the Company.

INTERNAL AUDITOR

M/s. S. Nidhi & Associates Chartered Accountants New Delhi appointed as anInternal Auditor to perform the duties of Internal Auditors of the Company.

MAINTENANCE OF COST RECORDS

Company has maintained the books of accounts pursuant to the rules made by the centralgovernment for the maintenance of cost records under section 148(1) of the Companies Act2013.

CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE OUTGO:

Information required under section 134(3)(m) of the Companies Act 2013 read with Rule8 of the Companies (Accounts) Rules 2014 is given in Annexure-II to this report.

DEPOSITS

The Company has not accepted any deposits covered under Chapter V of the Companies Act2013.

SIGNIFICANT & MATERIAL ORDERS PASSED BY THE REGULATORS:

During the period under review there were no significant and material orders passed bythe regulators or Courts or Tribunals impacting the going concern status and the company'soperations in future.

DETAILS OF ADEQUACY OF INTERNAL FINANCIAL CONTROLS:

Your Company has well established procedures for internal control across its variouslocations commensurate with its size and operations. The organization is adequatelystaffed with qualified and experienced personnel for implementing and monitoring theinternal control environment.

The internal audit function is adequately resourced commensurate with the operations ofthe Company and reports to the Audit Committee of the Board.

INSURANCE

The properties and assets of your Company are adequately insured.

PARTICULARS OF LOANS GUARANTEES OR INVESTMENTS

The company has not given loans Guarantees or made any investments during the yearunder review.

RISK MANAGEMENT POLICY

Your Company follows a comprehensive system of Risk Management. Your Company hasadopted a procedure for assessment and minimization of probable risks. It ensures that allthe risks are timely defined and mitigated in accordance with the well structured riskmanagement process.

CORPORATE SOCIAL RESPONSIBILITY POLICY

Since your Company does not have the net worth of Rs. 500 Crore or more or turnover ofRs. 1000 Crore or more or a net profit of Rs. 5 Crore or more during the financial yearsection 135 of the Companies Act 2013 relating to Corporate Social Responsibility is notapplicable and hence the Company need not adopt any Corporate Social ResponsibilityPolicy.

RELATED PARTY TRANSACTIONS:

All contracts/arrangements/transactions entered by the Company during the financialyear with related parties were in the ordinary course of business and on arm's lengthbasis.

BOARD EVOLUTION

Pursuant to the provision of the Companies Act 2013 and SEBI (Listing ObligationsDisclosure Requirement) Regulations 2015 the Board has carried out an annual performanceevaluation of its own performance the directors individually as well as the evaluation ofthe working of its various Committees. The manner in which the evaluation has been carriedout is explained in the Corporate Governance Report.

NOMINATION AND REMUNERATION POLICY

The Board of Directors on the recommendation of the Nomination & RemunerationCommittee has approved a policy for selection appointment & remuneration ofDirectors Key Managerial Personnel (KMP) and Senior Management employees of the Company.The said policy is enclosed as a part of this report as Annexure - III.

REMUNERATION OF THE DIRECTORS / KEY MANAGERIAL PERSONNEL (KMP) AND PARTICULARS OFEMPLOYEES

The information required pursuant to Section 197(12) of the Companies Act 2013 readwith Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules2014 in respect of Directors / Key Managerial Personnel (KMP) and Employees of the Companyis furnished hereunder:

(i) the ratio of the remuneration of each Director to the median remuneration of theemployees of the Company for the financial year &

(ii) the percentage increase in remuneration of each Director Chief Financial OfficerChief Executive Officer Company Secretary or Manager if any in the financial year.

Sl. No. Name Category Ratio/Times per Median of employee remuneration % Increase in remuneration
1. Mr. Rajesh Punia Managing Director 6.96 NIL
2. Mrs. Savita Punia Whole Time Director 4.64 NIL
3. Mr. BK Lakhanpal Non-Executive Director NIL
4. Mr. Jitendra Surendra Gupta Independent Director NIL
5. Mr. Vivek Seth Independent Director NIL
6. Mr. Aditya Gupta Independent Director NIL
7. Mr. Om Prakash Sharma Chief Financial Officer 3.85 NIL

The Non-Executive Directors are paid only sitting fees for attending meeting of theBoard of Directors and the Committees constituted by the Board.

(iii) The number of permanent employees on the rolls of Company.

Twenty Five (25)

(iv) Average percentile increase already made in the salaries of employees otherthan the managerial personnel in the last financial year and its comparison with thepercentile increase in the managerial remuneration and justification thereof and point outif there are any exceptional circumstances for increase in the managerial remuneration.

NIL

(v) The remuneration paid to the Directors / Key Managerial Personnel (KMP) is inaccordance with the remuneration policy of the Company.

LISTING WITH STOCK EXCHANGES:

The shares of the Company are listed on National Stock Exchange Limited (NSE) andBombay Stock Exchange Limited (BSE). The Company has paid the Annual Listing Fees for theyear 2020-2021 to the Stock Exchange where the Company's Shares are listed.

CORPORATE GOVERNANCE:

The Company adheres to the requirements set out by the Securities and Exchange Board ofIndia's Corporate Governance Practices and has implemented all the stipulationsprescribed. As per Schedule-V of SEBI (Listing Obligations and Disclosure Requirements)Regulation 2015 a separate section of Corporate Governance together with certificate ofStatutory Auditor confirming compliance with the requirements of corporate governance formpart of the Annual Report.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

As required under Regulation 34 of SEBI (Listing Obligations and DisclosureRequirements) Regulation 2015 the Management Discussion and Analysis Report is enclosedas a part of this report.

INDUSTRY BASED DISCLOSURES AS MANDATED BY THE RESPECTIVE LAWS GOVERNING THE COMPANY

The Company is not a NBFC Housing Companies etc. and hence Industry based disclosuresis not required.

PARTICULARS OF EMPLOYEES:

Your Directors are pleased to record their sincere appreciation of the contribution bythe staff at all levels in the improved performance of the Company.

EMPLOYEE RELATIONS:

Oriental aims at adopting the best practices for accomplishing competitive advantagethrough people and building profits by putting people first. It endeavors to devisestrategies to attract the best talent and to ensure their retention by building trust andencouraging loyalty in them. We believe that to build a sound and growing business in adifficult and complex industry employees are vital to the Company. Their skillsknowledge ideas and enthusiasm drive our business. We have also achieved this by givingthem development and advancement opportunities along-with competitive compensations andbenefits that appropriately reward performance. Pay revisions and other benefits are alsodesigned in such a way to compensate for good performance of the employees of the company.The talent base of your company has steadily increased and your company has created afavorable work environment which encourages innovation and meritocracy. The Company hasalso set up a scalable recruitment and human resource management process which enables usto attract and retain high caliber employees.

CONSTITUTION OF INTERNAL COMPLAINTS COMMITTEE UNDER SEXUAL HARASSMENT OF WOMEN INWORKPLACE (PREVENTION PROHIBITION & REDRESSAL) ACT 2013

The Company has not appointed any woman employees from last several years thereforecompany has not constituted Internal Complaints Committee under Sexual Harassment of Womenin Workplace (Prevention Prohibition & Redressal) Act 2013.

ACKNOWLEDGMENTS & APPRECIATIONS

The Board places on record its appreciation for the continued co-operation and supportextended to the Company by the Banks Stock Exchanges NSDLCDSL. The Board wishes toexpress its grateful appreciation for the assistance and co-operation received fromvendors customers banks financial institutions Central and State Government bodiesauditors legal advisors consultants dealers retailers and other business associates.

The Board deeply acknowledges the trust and confidence placed by the consumers of theCompany and above all the shareholders.

The Board of Directors would particularly like to place on record its appreciation forthe dedicated efforts of the employees at all levels.

By order of the Board of Directors For ORIENTAL TRIMEX LIMITED
Sd/- Sd/-
Rajesh Punia Savita Punia
Place: New Delhi Managing Director Whole Time Director
Date: 30.07.2021 (DIN No.00010289) (DIN No.00010311)

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