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PG Electroplast Ltd.

BSE: 533581 Sector: Engineering
NSE: PGEL ISIN Code: INE457L01011
BSE 00:00 | 14 Oct 545.85 -24.95
(-4.37%)
OPEN

575.05

HIGH

575.05

LOW

541.35

NSE 00:00 | 14 Oct 545.75 -26.90
(-4.70%)
OPEN

577.50

HIGH

579.15

LOW

542.05

OPEN 575.05
PREVIOUS CLOSE 570.80
VOLUME 6198
52-Week high 595.40
52-Week low 76.80
P/E 53.31
Mkt Cap.(Rs cr) 1,140
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 575.05
CLOSE 570.80
VOLUME 6198
52-Week high 595.40
52-Week low 76.80
P/E 53.31
Mkt Cap.(Rs cr) 1,140
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

PG Electroplast Ltd. (PGEL) - Director Report

Company director report

DEAR SHAREHOLDERS

The Board of Directors have pleasure in presenting the Annual Report ofthe Company along with Audited Financial

Statements for the financial year ended 31st March 2020.

1. FINANCIAL RESULTS:

(Rupees in Lakh)

Particulars FY 2019-20 FY 2018-19
Revenue from Operations 63941.71 50853.30
Other Income 246.85 318.89
Total Income 64188.56 51154.19
Total Expenses 63257.61 50138.59
Profit before Tax 930.95 1015.60
Total Tax Expenses 669.48 21.35
Profit for the year 261.47 994.25
Other Comprehensive Income (41.09) 25.60
Total Comprehensive Income 220.38 1019.85
EPS (Basis & Diluted) of Rs. 10/- each (with OCI) 1.17 6.20
EPS (Basis & Diluted) of Rs. 10/- each (without OCI) 1.39 6.04

2. PERFORMANCE OVERVIEW:

During the year under review your company recorded revenue of Rs.64188.56 lakh in FY 2019-20 including other income as compared to Rs. 51154.19 lakh in

FY 2018-19 a growth of 25.5%. The Company has recorded strong revenuegrowth in the year despite losing sales of 15 days in March 2020 due to COVID-19.Depreciation increased by 22.1% to Rs. 1631.03 lakh in FY 2019-20 as compared toRs. 1336.35 lakh in FY 2018-19. Interest expense increased by 42.7% to Rs.1475.45 lakh in FY 2019-20 from Rs. 1033.68 lakh in FY 2018-19. This is mainlyattributed to increase in borrowings during the year. Profit before Tax before exceptionalitems stood at Rs. 1131.88 lakh in FY 2019-20 as compared to Rs. 1016.47 lakh in FY2018-19 representing a growth of 11.4% YoY.

The detailed operational performance of your Company is provided in theManagement Discussion and Analysis Report forming part of this report.

3. ISSUE OF SHARES BY WAY OF PREFERENTIAL ALLOTMENT:

During the period under review the Company has allotted 874584Equity shares to the person belonging to Promoter and Promoter Group viz. Mrs. Sudesh

Gupta Mr. Anurag Gupta Mr. Vishal Gupta & Mr. Vikas

Gupta on preferential basis. Following are the summary of allotment ofshares:

Date of Members approval through Postal Ballot 09/02/2020
Date of issue and allotment 14/02/2020
Method of allotment Allotment of equity shares to the person belonging to Promoter & Promoter Group on preferential basis for which consideration money was adjusted against outstanding unsecured loan given by the promoter & Promoter Group.
Issue price basis of computation of issue price Issue price of Rs. 57.17/- The price of the Equity Shares was determined in accordance with the Regulation 164 of (ICDR) Regulations 2018.
Particulars of person to whom shares have been issued The equity shares has been allotted to the person belonging to Promoter and Promoter Group of the Company viz. Mr. Anurag Gupta Mr. Vishal Gupta Mr. Vikas Gupta and Mrs. Sudesh Gupta
Shareholding of promoters and promoter prior to allotment 66.52%
No. of share allotted 874584 Equity Shares of Rs. 10/- each
Shareholding of promoter and promoter group post allotment 68.02%
Post Issue Public Shareholding 31.98%
Consideration details Aggregate loan amount of Rs. 500 lakh given by the promoter directors were converted into 874584 Equity Shares at face value of Rs. 10/- each at an issue price of Rs. 57.17/- each which were allotted as following:
Allottees Equity shares allotted
Mrs. Sudesh Gupta 218646
Mr. Anurag Gupta 218646
Mr. Vishal Gupta 218646
Mr. Vikas Gupta 218646
874584
Date of listing approval of NSE & BSE NSE approval on 16/03/2020 and BSE on 27/03/2020

4. TRANSFER TO RESERVE:

The Board of Directors of your company has decided not to transfer anyamount to the Reserves for the year under review.

5. DIVIDEND:

The Board of Directors of your company has not to recommend anyDividend for the year under review.

6. STATE OF THE COMPANY'S AFFAIRS:

 

Business and its operations:

The Company is an Electronic Manufacturing Services

(EMS) provider for Original Equipment Manufacturers

(OEMs) of consumer electronic products in India.

The Company manufactures and/or assemble a comprehensive range ofconsumer electronic components and finished products. The Company is a leadingmanufacturer of Plastic Molded Parts for Indian consumer electronics sanitary ware andautomotive industry with facilities like plastic moulding thermoset moulding plasticblow moulding PCB assemblies PU Paint shop final product assembly and toolmanufacturing. The Company extends end-to-end assembly solutions for final products likeSet Top boxes Washing Machines and Air-Coolers.

Key business developments:

Your Company has achieved the highest revenue mark which crossed Rs. 6billion in FY 2020. It has achieved a big milestone during the year under review byforaying into Room AC IDU (Indoor Unit). It has successfully commissioned new heatexchanger and assembly line setup for AC IDU business. ODM washing machine business haspanned out very well in FY 2020 and the Company received very encouraging response to itssemi-automatic platforms. Your company has further ramped up its Design shop and Tool roomcapacity which places the Companyat significant competitive advantage. Overall FY2019-20 was a satisfactory year despite an unfortunate fire incident in washing machinedivision at Greater Noida. The Company remains determined to achieve higher scaling ofoperations and stabilising the new business initiatives. Significant opportunities areemerging in existing and new clients due to competencies developed by the Company in lastfew years.

 

Capital expenditure Activities:

During the year company has incurred Rs. 5271.57 lakh on capitalexpenditures which includes new addition to the fleet of injection moulding machines Pick& place machine new ODM model based moulds of Washing machines. Also Company hasinvested in construction of new building/floors which has increased the covered area.

7. CREDIT RATING:

During the year the Credit Rating Agency ‘Brickwork Ratings IndiaPvt. Ltd.' has assigned to the Company a long term rating "BWR BBB+" on03/07/2019.

Previously ‘Brickwork Ratings India Pvt. Ltd.' had assignedto the Company a long term rating "BWR BBB" on 01/10/2018.

8. INVESTOR EDUCATION AND PROTECTION FUND:

The Company did not have any outstanding amount of unclaimed/unpaiddividend and the corresponding shares.

9. MANAGEMENT: Board of Directors:

During the year the Board has appointed Mr.

Pramod Chimmanlal Gupta (DIN: 07066493) aged 47 years as an additionalDirector in capacity of Non-Executive Independent Director on 15/05/2019. His appointmentwas regularised at the 17th Annual General Meeting held on 09/08/2019 as IndependentDirector for a period of five consecutive years w.e.f. 09/08/2019.

Mr. Ayodhya Prasad Anand (DIN:06808974) (aged above 75 years)ceased to be an Independent Director of the Company from close of business hours of10/08/2019 due to completion of his term of five consecutive years as IndependentDirector.

Mr. Promod Gupta Chairman & Managing Director of the Companydemised on 29/11/2019.

Mr. Anurag Gupta Whole-Time Director was appointed as Chairman ofthe Board of Directors of the Company and at all the general meetings of the members ofthe company w.e.f. 23/12/2019.

Mr. Bhawa Nand Choudhary was appointed as Additional Director (incapacity of Executive Director-Managing Director) of the Company w.e.f. 23/12/2019.Regularisation of his appointment as Managing Director has been recommended by the Boardin ensuing Annual General Meeting.

Mr. Bhawa Nand Choudhary was Chief Operating Officer of the company andhas been associated with the company from many years holding various positions. He is anEngineer by profession and has completed his graduation (B.Tech - Mechanical) from theUniversity of Ranchi in 1976 and PostGraduation (M.Tech-Production Management) from theUniversity of Ranchi in 1984. He has over 40 years of experience in the field of ProjectManagement Manufacturing Operations Techno Commercial Negotiations Production BusinessDevelopment and Quality Assurance. He has expertise in managing entire operations with keyfocus on bottom line profitability along with the ability for developing the streamliningsystems.

Disclosures under Section II of Part II of Schedule V of the CompaniesAct 2013:

(i) All elements of remuneration package such as salary benefitsbonuses stock options pension etc. of all the directors including detail of fixedcomponent is mentioned in Corporate Governance Report as Annexure I.

(ii) Service contracts notice period severance fees: N.A.

(iii) Stock option details: N.A.

Further during the reporting period Mr. Sharad Jain and Mr.Devendra Jha were reappointed as Independent Directors of the Company for a period of fiveconsecutive years w.e.f. 11/08/2019 and Mrs. Rita Mohanty was reappointed as IndependentDirector of the Company for a period of five consecutive years w.e.f. 26/09/2019.

In accordance with the provisions of the Companies Act 2013 Mr. AnuragGupta Director of the Company will retire by rotation at the ensuing AGM and beingeligible offer himself for re-appointment.

None of the Directors have incurred any disqualification on account ofnon-compliance with any of the provisions of the Act. During the year

2019-20 non-executive directors of the Company had no pecuniaryrelationship or transactions with the Company other than sitting fees for the purpose ofattending meetings of the Company.

The Company has received declarations from each of the IndependentDirectors confirming that they meet the criteria of independence as prescribed underSection 149(6) of the Companies Act 2013 as well as under Regulation 16 of SEBI (ListingObligation & Disclosure Requirements) Regulation 2015 and there has been no change inthe circumstances which may affect their status as independent director during the year.The independent directors have also confirmed that they have complied with theCompany's code of conduct.

Key Managerial Person:

During the year under review Mr. Mahabir Prasad Gupta resigned asChief Financial Officer of the Company w.e.f. close of Business hours on 14/11/2019.Thereafter

Mr. Praveen Datt Agarwal was appointed as Chief Financial Officer ofthe Company w.e.f. 15/11/2019. He was associated with the Company till 31/05/2020.Thereafter Mr. Mahabir Prasad Gupta was appointed as Chief Financial Officer of theCompany w.e.f. 23/06/2020.

10. MEETINGS OF BOARD OF DIRECTORS & ITS COMMITTEES.

Five meetings of the Board of Directors were held during the periodunder review. For details of Composition & Meetings of the Board and its Committeesplease refer to the Report on Corporate Governance which forms part of this Report asAnnexure I.

During the year no such instances occurred that the Board has notaccepted any recommendation of the Audit Committee.

11. BOARD EVALUATION AND FAMILIARIZATION PROGRAMME:

The Nomination & Remuneration Committee has carried out a formalannual evaluation of performance of the Board itself its Committees and individualDirectors pursuant to the provisions of the Companies Act 2013 and Regulation 17 of SEBI(Listing Obligations and Disclosure Requirements) Regulations 2015. The evaluation ofindividual Directors including chairman was done by the Directors other than the one beingevaluated by Board & Nomination Remuneration

Committee.

The Nomination & Remuneration Committee evaluated the performanceof each and every director of the company and each member of the committee and expressedsatisfaction over their performance.

Further the Independent Directors also at their separate meetingreviewed the performance of chairman of the Board non-independent directors and the Boardas a whole and assessed the quality quantity and timeliness of flow of informationbetween the company management and the Board. They expressed satisfaction over the saidsubject matter.

The details of program for familiarization of Independent

Directors of your Company are available at web-link https://www.pgel.in/PDF/Familiarisation_Program_ID.pdf.

12. CORPORATE GOVERNANCE REPORT & MANAGEMENT DISCUSSION ANDANALYSIS REPORT:

Corporate Governance Report and Management Discussion & AnalysisReport as stipulated under SEBI (Listing Obligation & Disclosure Requirements)Regulations 2015 which forms integral part of this report are presented as‘Annexure I' & on Page

No. 24 respectively. certificateon Compliance corporate Governanceissued by M/s Puja Mishra & Co. Practicing Company Secretary also form a part of thesaid Corporate Governance Report.

13. COMPANY'S POLICY ON DIRECTORS' APPOINTMENT ANDREMUNERATION:

The Company has adopted a Nomination and Remuneration Policy. Salientfeatures of this policy are attached as ‘Annexure II' to this report.

14. REMUNERATION OF DIRECTORS AND EMPLOYEES:

The disclosure pertaining to remuneration and other details ofdirectors and employees as required under section 197(12) of the Companies Act 2013 readwith Rule 5 of the Companies (Appointment and remuneration of Managerial Personal) Rules2014 and the amendment thereof have been provided in the ‘Annexure III' formingpart of this report.

During the period under review the Managing/Whole time Director of thecompany were not in receipt of any commission from the company.

15. DIRECTORS RESPONSIBILITY STATEMENT:

The Board of Directors to the best of their knowledge and beliefconfirm that:

a) in the preparation of the annual accounts for the Financial Year2019-20 the applicable accounting standards had been followed along with properexplanation relating to material departures;

b) They had 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 and loss of the company for that period;

c) They had taken proper and sufficient care for the maintenance ofadequate accounting records in accordance with the provisions of this Act for safeguardingthe assets of the company and for preventing and detecting fraud and other irregularities;

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

e) They had laid down internal financial controls to be followed by thecompany and that such internal financial controls are adequate and were operatingeffectively.

f) They had devised proper systems to ensure compliance with theprovisions of all applicable laws and that such systems were adequate and operatingeffectively.

16. RISK MANAGEMENT & INTERNAL CONTROL SYSTEMS:

The Company has developed & implemented a Risk Management frameworkfor identification evaluating and management of risks including the risks which maythreaten the existence of the Company. In line with your Company's commitment todeliver sustainable value this framework aims to provide an integrated and organizedapproach for evaluating and managing risks. Regular exercise has been carried out toidentify evaluate manage and monitor the risks.

Your Company's internal control systems are commensurate with thenature of its business and the size and complexity of its operations. The Company has inplace adequate controls procedures and policies ensuring orderly and efficient conductof its business including adherence to the Company's policies safeguarding of itsassets prevention and detection of frauds and errors accuracy and completeness ofaccounting records and timely preparation of reliable financial information. The internalcontrols cover operations financial reporting compliance with applicable laws andregulations safeguarding assets from unauthorized use and ensure compliance of corporatepolicies. Internal controls are reviewed periodically by the internal auditors and aresubject to management reviews with significant audit observations and follow up actionsreported to the Audit Committee.

The Audit Committee actively reviews the adequacy and effectiveness ofinternal control systems and suggests improvements for strengthening them in accordancewith the changes in the business dynamics if required.

17. STATUTORY AUDITORS & THEIR REPORT:

The Report of Statutory Auditor's - M/s Chitresh Gupta &Associates on Financial Statements for the year ended on 31st March 2020does not contain any qualification reservation or adverse remarks. No fraud has beenreported by the Auditor.

18. SECRETARIAL AUDIT & THEIR REPORT:

Pursuant to the provisions of Section 204 of the Act and the Companies(Appointment and Remuneration of Managerial Personnel) Rules 2014 the Board of Directorshad appointed M/s Puja Mishra & Co. Practicing Company Secretary for conductingsecretarial audit of Company for the financial year 2019-20. Their report is annexed withBoard Report as ‘Annexure IV'. The Secretarial auditor's report does notcontain any qualification reservation or adverse remarks. The auditors have also given acertificate of Non-disqualification of directors as on 31 st March 2020annexed with Board Report as ‘Annexure V'. related party Other parts of thisreport are self-explanatory and do not call for any further clarifications.

19. COST AUDITORS:

The Board of Directors have re-appointed M/s Amit Singhal &Associates Cost Accountants having Firm Registration Number: 101073 as Cost Auditors toaudit the cost records of the financial year 2020-21 and recommended ratification of theirremuneration by the shareholders at the ensuing annual general meeting.

20. DISCLOSURES RELATING TO SUBSIDIARIES ASSOCIATES AND JOINTVENTURES:

The Company does not have any subsidiary associate or joint ventureCompany.

21. DEPOSITS:

The Company has not accepted any deposits from public and as such noamount on account of principal or interest on deposits from public was outstanding as onthe date of the balance sheet.

22. PARTICULARS OF LOAN GIVEN INVESTMENTS MADE GUARANTEE GIVEN ANDSECURITIES PROVIDED UNDER SECTION 186 OF THE COMPANIES ACT 2013:

During the financial year 2019-20 the Company has not given any loanor guarantee has not made any investment & provided any securities under section 186of the Companies Act 2013.

23. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:

The particulars of contract or arrangements entered by the Company withrelated parties referred to in section 134 of the Companies Act are disclosed inform AOC-2 as ‘Annexure VI'.

During the year the Company had not entered into anycontract/arrangement/transaction with related parties which could be considered materialin accordance with SEBI (Listing Obligation & Disclosure Requirements) Regulations2015 & policy of the Company.

All related party transactions entered by your Company during the yearunder review were approved by the Audit Committee. Prior omnibus approval has beenobtained for related party transactions which are repetitive in nature and/or entered inordinary course of business and at arm's length. There are no materially transactionsthat may have significant potential conflict with interest of the Company at large

The policy on materiality of Related Party Transactions and policy ondealing with Related Party Transactions are available at web-link https://www.pgel.in/PDF/RelatedPartyTransactionsPolicy.pdf.

24. CORPORATE SOCIAL RESPONSIBILITY (CSR):

During the preceding financial year 2019-20 the Company was notrequired to spend on CSR activities. Details of composition of CSR Committee andcomputation of average net profit are set out in ‘Annexure VII' to this reportin the format prescribed in the Companies (Corporate Social Responsibility Policy) Rules2014.

CSR Policy adopted by the Company is available on its website at linkhttps://www.pgel.in/PDF/CSRPOLICY.pdf.

25. VIGIL MECHANISM:

The Company has established a Vigil Mechanism / Whistle Blower Policyfor dealing with instances of fraud & mismanagements. All Employees of the Company andvarious stakeholders of the company can make Protected Disclosures in writing or throughmail in relation to matters concerning the Company/unethical behavior/ actual or suspectedfraud/ violation of codes & policies of the Company.

Your Company hereby confirm that no directors/ employee have beendenied access to the chairman of the Audit Committee. There were no complaints receivedthrough the said mechanism during the financial year 2019-20.

The Vigil Mechanism or whistle blower policy may be accessed atweb-link http://www.pgel.in/PDF/ VigilMechanismWhistleBlowerPolicy.pdf.

26. EXTRACT OF ANNUAL RETURN:

The Extract of Annual Return in prescribed form MGT-9 isenclosed as ‘Annexure VII'. Annual Return is also available on web link http://www.pgel.in/PDF/Annual_Return_2019-20.pdf.

27. CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION FOREIGN EXCHANGEEARNING & OUTGO:

(A) Conservation of Energy:

The key focus area in our operations is conservation of energy. Weendeavor to conserve energy and continuously make efforts to optimize use of fuels power& water. The following steps have been taken for conservation of energy:

a) The Company has installed variable frequency drivers in all electricmotors which have helped sustain a lower power factor.

b) Using invertor technology to control the speed of thecompressor's motor in the AC plant better temperature regulation has been achievedand has hence reduced energy consumption.

c) Shop floors which run manufacturing process have been transitionedto LED highbay lights which have further reduced the energy costs by about 60%.

d) The Company purchased several Injection Moulding Machines that useServo-Hybrid Technologies which use 60% less power than older Injection Moulding Machines.

e) A turbo ventilation system has been installed on all roofs which hasreduced the use of exhaust fans.

f) The Company is also maintaining a power factor of about close to 1.

g) All street lights & main machine flow highbay lights have beensubstituted for greener LED alternatives.

h) The Company continuously evaluate new technologies and techniques tomake infrastructure more energy efficient.

(B) Technology absorption:

In striving for continuous excellence in technology and best qualityproduct several initiatives have been taken:

a) The bigger moulding machines on the shop floor have been fitted withan automatic conveyor line thereby reducing production cost while enhancing productquality.

b) With technology from Hoti (Xiamen) Plumbing Inc the company hasadded a PU paint shop and a UF thermoset moulding seat facility giving it newmanufacturing capabilities.

c) New Blow Moulding Equipment has also been installed.

d) Additional PCB & SMT assembly-cum-automation machines have beenpurchased thereby increasing production capacity.

e) Industrial robots are being installed on injection moulding machineswhich will reduce manpower cost.

f) Injection moulding machines with servo drive technology have beenadded to the facilities.

These initiatives will help the Company to manufacture cheaper and moredurable products.

(C) Foreign exchange earnings and Outgo-

(Rs in Lakhs)

Particulars 2019-20 2018-19
Foreign Exchange Earnings - -
Foreign Exchange Outgo 6485.76 2724.16

28. SIGNIFICANT & MATERIAL REGULATORY ORDERS:

An adjudication order dated 02/08/2017 has been passed by Adjudicatingofficer (AO) of SEBI in the matter of alleged irregularities in Initial Public Offer ofthe Company in the period August 2011 to September 2011 for issue of 5745000 equityshares of face value Rs. 10/- each through 100% book building process.

In this matter a show cause Notice dated 11/09/2013 was issued underrule 4 of SEBI (Procedure for holding inquiry and imposing penalties by AdjudicatingOfficer) Rules 1995 read with section 15I(2) of SEBI Act 1992.

SEBI initiated adjudication proceedings under the Act to inquire intoand adjudge the alleged violations of certain provisions/Section/regulation of the SEBIAct 1992; SEBI (Prohibition of Fraudulent and Unfair Trade

Practices relating to Securities Market) Regulation

2003 (PFUTP Regulations); SEBI (Issue of Capital and DisclosureRequirements) Regulations 2009 (ICDR Regulations) by the Company and its directorsnamely Mr. Promod Gupta Mr. Anurag Gupta Mr. Vishal Gupta and Mr. Vikas Gupta.

Vide order dated 02/08/2017 adjudicating officer of

SEBI has imposed monetary penalties of Rupees One Crore on the Companyand Rupees One Crore on each of four directors (mentioned in above paragraph) for theviolation of ICDR Regulations. AO has also imposed penalty on 26 entities for violationof the provisions of Section 11C(2) and (3) of the SEBI Act 1992 they are not related toPG Electroplast Limited. As regards the violation of the provisions of PFUTPRegulations by the Company and its directors AO found that the Hon'ble SAT (Orderdated 30/08/2016) has not found any merit in the said allegations. The Company filedappeal before Hon'ble SAT against said adjudication order.

Now vide order dated 02/08/2019 Hon'ble SAT ruled where nopenalty could be imposed thatthisisafit and the question of imposing the maximum penaltyin the given facts and circumstance does not arise.

Accordingly Hon'ble SAT has allowed the appeal and ordered to setaside penalty imposed on the Company and its directors namely- Mr. Promod Gupta Mr.Anurag Gupta Mr. Vishal Gupta and Mr. Vikas Gupta.

29. MATERIAL CHANGE & COMMITMENT OCCURRED BETWEEN END OF FINANCIALYEAR & THE DATE OF REPORT:

There is no material change and commitment occurred between 31stMarch 2020 and date of this report which may affect financial position of the Companyexcept impact related to COVID-19 mentioned in Management

Discussion & Analysis Report on Page No. 32.

30. COMPLIANCE OF APPLICABLE SECRETARIAL STANDARD:

During the reporting period your company has duly complied with allapplicable secretarial standards.

31. DISCLOSURES PERTAINING TO THE SEXUAL HARASSMENT OF WOMEN AT THEWORKPLACE (PREVENTION PROHIBITION AND REDRESSAL) ACT 2013:

The company has complied with the provision relating to theconstitution of Internal Complaints Committee under the Sexual Harassment of Women at theWorkplace of (Prevention Prohibition and Redressal) Act 2013.

The company has in place a Policy for prevention of Sexual Harassmentat the Workplace in line with the requirements of the Sexual Harassment of Women at theWorkplace (Prevention Prohibition & Redressal) Act 2013. Internal ComplaintsCommittee (ICC) has been set up to redress complaints received regarding sexualharassment. All employees (permanent contractual temporary trainees) are covered underthis policy.

The following is a summary of sexual harassment complaints received anddisposed of during the year:

(a) Number of complaints pending at the beginning of the year: NIL

(b) Number of complaints received during the year: NIL (c) Number ofcomplaints disposed off during the year: NIL (d) Number of cases pending at the end of theyear: NIL

ACKNOWLEDGMENT

The Directors extended their vote of thanks to the

Company's employees customers vendors business associatesinvestors and all stakeholders for their continuous support. The Directors also thank theGovernment of India Governments of various states in India Governments of variouscountries and concerned Government departments and agencies for their co-operation. TheDirectors appreciate and value the contribution made by every member of the

PG Group.

For and on Behalf of Board of Directors of
PG Electroplast Limited
(Mr. Anurag Gupta) (Mr. Vikas Gupta)
Chairman Director
DIN: 00184361 DIN: 00182241
B-15 Kalindi Colony B-15 Kalindi Colony
Delhi-110065 Delhi-110065

.