You are here » Home » Companies » Company Overview » Prakash Woollen & Synthetic Mills Ltd

Prakash Woollen & Synthetic Mills Ltd.

BSE: 531437 Sector: Industrials
NSE: N.A. ISIN Code: INE523I01016
BSE 00:00 | 02 Dec 37.00 -0.35
(-0.94%)
OPEN

37.35

HIGH

37.40

LOW

36.55

NSE 05:30 | 01 Jan Prakash Woollen & Synthetic Mills Ltd
OPEN 37.35
PREVIOUS CLOSE 37.35
VOLUME 2098
52-Week high 95.65
52-Week low 26.10
P/E
Mkt Cap.(Rs cr) 38
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 37.35
CLOSE 37.35
VOLUME 2098
52-Week high 95.65
52-Week low 26.10
P/E
Mkt Cap.(Rs cr) 38
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Prakash Woollen & Synthetic Mills Ltd. (PRAKASHWOOLLEN) - Director Report

Company director report

To The Members

Your Directors are pleased to present 43rd Annual Report covering the operational andfinancial performance of your Company along with the Audited Financial Statements for theFinancial Year ended March 31 2022.

FINANCIAL HIGHLIGHTS

(Rs. in lakhs)

Particulars 2021-22 2020-21
Revenue from operations 9852.22 9755.42
Other Income 13.91 68.18
Total Revenue 9866.13 9823.60
Profit before Depreciation & Tax 402.77 917.74
Depreciation 415.94 422.23
Profit before Tax & Exceptional Items (13.17) 495.51
Current tax inclusive of earlier year tax 10.05 119.92
Deferred Tax Asset/Liability (17.66) (1.77)
Profit after Tax (5.56) 377.36
Other Comprehensive Income
Remeasurements of net defined benefit plans 17.82 8.39
Income tax relating to above items (4.63) (2.33)
Total Comprehensive Income for the period 7.63 383.42
Earning Per Share (0.05) Rs. 3.68

KEY HIGHLIGHTS/ REVIEW OF OPERATIONS

During the period under consideration the revenue of the Company has increased from Rs.9823.60 lakh to Rs 9866.13 lakh (0.43%).

COVID-19 EFFECT

The Company has taken into account all the possible impacts of COVID-19 in preparationof these standalone financial statements including but not limited to its assessment ofliquidity and going concern assumption recoverable values of its financial andnon-financial assets impact on revenue and cost impact on leases. The Company hascarried out this assessment based on available internal and external sources ofinformation upto the date of approval of these standalone financial statements andbelieves that the impact of COVID-19 is not material to these standalone financialstatements and expects to recover the carrying amount of its assets. The impact ofCOVID-19 on the standalone financial statements may differ from that estimated as at thedate of approval of these standalone financial statements owing to the nature and durationof COVID-19.

The net profit after tax of the Company has decreased from Rs. 377.36 lakh to Rs.(5.56) lakh. Your directors hope for better results in the coming financial years. Thereis a decrease of 98.50% in profits for the year ended 31.03.2022 as compared to theprofits earned in financial year ending 31.03.2021.

STATE OF AFFAIRS

The company specializes in the production of Mink Blankets and Bed Covers. Themanufacturing unit boasts of state-of-the- art machinery based on the most advancedtechnology which has been specially imported for the production facility. The company hasstream lined facilities for knitting dyeing processing printing finishing andpackaging. The complete facility is backed by the team of highly skilled and experiencedworkforce who ensure zero defects at every stage of production. It is expected that thecompany will achieve good growth in times to come.

MATERIAL CHANGES AND COMMITMENTS AFFECTING FINANCIAL POSITION BETWEEN THE END OF THEFINANCIAL YEAR AND DATE OF REPORT

There are no material changes affecting the affairs of the company which have occurredbetween the end of the financial year on March 312022 to which the financial statementsrelates and the date of this report.

CHANGE IN THE NATURE OF BUSINESS

There was no change in the nature of the business during the financial year underreview.

DIVIDEND

In order to meet the working capital requirements of the Company no dividend has beenrecommended by your Board.

GENERAL RESERVES

No amount was transferred to General Reserve.

DEPOSITS

Your Company has no unclaimed / unpaid matured deposit or interest due thereon. YourCompany has not accepted any deposits covered under 'Chapter V - Acceptance of Deposits byCompanies' under the Companies Act 2013 during the financial year ended March 312022but there was an outstanding loan of Rs. 460.00 Lakh including interest from thePromoter-Directors of the Company namely Adeep Gupta HUF Mrs. Anita Gupta Ashish GuptaHUF Daya Kishan Gupta HUF Mr. Aditya Gupta Kapil Gupta HUF Mrs. Reetika Gupta Mrs.Rajni Gupta Mrs. Shalini Gupta Vijay Kumar Gupta HUF which is exempted as deposit underRule 2(c) (viii) of Companies (Acceptance of Deposit) Rules 2014.

CAPITAL STRUCTURE

The Authorized Share Capital of the Company as on March 31 2022 stands at Rs.120000000/- divided into 12000000 equity shares of Rs. 10/- each. The Subscribed andPaid up Equity Share Capital as at March 312022 stood at Rs. 102597500/- divided into10259750 equity shares of Rs. 10/- each fully paid-up.

During the year under review the Company has neither issued any shares withdifferential voting rights nor has granted any stock options or sweat equity. There was nobuy back of shares. As on March 312022 none of the Directors of the Company holdinstruments convertible into equity shares of the Company.

MANAGEMENT'S DISCUSSION AND ANALYSIS REPORT

Management's Discussion and Analysis Report for the year under review as stipulatedunder Regulation 34(3) read with Schedule V (B) of the Securities of Exchange Board ofIndia (Listing Obligations and Disclosures Requirements) Regulations 2015 is presentedin a separate section forming part of the Annual Report.

SUBSIDIARIES JOINT VENTURES AND ASSOCIATE COMPANIES

Your company does not have any unlisted/listed subsidiary company or Joint Venture orany Associate Company pursuant to the provisions of the Rule 8 of Companies (Accounts)Rules 2014 therefore no requirement of attachment of Form AOC-1.

DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to section 134(5) of the Companies Act 2013 your Directors state that:

• in the preparation of the annual accounts for the year ended March 31 2022 theapplicable accounting standards read with requirements set out under Schedule III to theAct have been followed and there are no material departures from the same;

• the Directors 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 as at March 31 2022 andof the profit of the Company for the year ended on that date;

• the Directors have taken proper and sufficient care for the maintenance ofadequate accounting records in accordance with the provisions of the Act for safeguardingthe assets of the Company and for preventing and detecting fraud and other irregularities;

• the Directors have prepared the annual accounts on a 'going concern' basis;

• the Directors have laid down internal financial controls to be followed by theCompany and that such internal financial controls are adequate and are operatingeffectively; and

• the Directors have devised proper systems to ensure compliance with theprovisions of all applicable laws and that such systems are adequate and operatingeffectively.

CORPORATE GOVERNANCE

The Company is committed to maintain the highest standards of corporate governance andadhere to the corporate governance requirements set out by SEBI. The Company has alsoimplemented several best corporate governance practices as prevalent globally. The reporton Corporate Governance as stipulated under the SEBI (Listing Obligations and DisclosuresRequirements) Regulations 2015 forms an integral part of this Report. The requisitecertificate from the Auditors of the Company confirming compliance with the conditions ofcorporate governance is attached to the report on Corporate Governance.

CONTRACTS AND ARRANGEMENTS WITH RELATED PARTIES

All contracts / arrangements / transactions entered by the Company during the financialyear with related parties were in the ordinary course of business and on an arm's lengthbasis. During the year the Company had not entered into any contract / arrangement /transaction with related parties which could be considered material in accordancewith the policy of the Company on materiality of related party transactions or coveredunder Section 188 of the Companies act 2013. Hence the details of such contracts orarrangements with its related parties are not disclosed in Form AOC-2 as prescribedunder the Companies Act 2013 and the Rules framed thereunder.

All such Related Party Transactions are placed before the Audit Committee for approvalprior omnibus approval for normal business transactions is also obtained from the AuditCommittee for the related party transactions which are of repetitive nature as well as forthe normal business transactions which cannot be foreseen and accordingly the details ofrelated party transactions entered into by the company pursuant to each of the omnibusapproval given has been reviewed by audit committee on a quarterly basis in terms of theapproval of the Committee.

The Policy on dealing with related party transactions and on determining materiality ofrelated party transactions as approved by the Board may be accessed on the Company'swebsite at the link : https://www.prakashwoollen.com/?q=node/494

RISK MANAGEMENT

In accordance with provisions of Regulation 21 of SEBI (Listing Obligations andDisclosure Requirements) Regulations 2015 the Company is not required to maintain RiskManagement Committee.

INTERNAL FINANCIAL CONTROLS

The Board has adopted the policies and procedures for ensuring the orderly andefficient conduct of its business including adherence to the Company's policies thesafeguarding of its assets the prevention and detection of frauds and errors theaccuracy and completeness of the accounting records and the timely preparation ofreliable financial disclosures.

The Company's Internal Control Systems are commensurate with the nature of its businessand the size and complexity of its operations. It comprises of audit and compliance byinternal audit checks by M/s Pulkit Rastogi & Co.-Amroha Internal Auditors of theCompany.

The Internal Auditors independently evaluate the adequacy of internal controls andconcurrently audit the financial transactions and review various business processes.Independence of the Internal Auditors and compliance is ensured by the direct report ofInternal Auditors to the Audit Committee of the Board.

DIRECTORS AND KEY MANAGERIAL PERSONNEL

Mr. Adeep Gupta Whole-Time Director retires by rotation and being eligible offerhimself for re-appointment. Your Company is managed and controlled by a Board which is anoptimum blend of Executives and Non-Executive Professional Directors. As on 1stApril 2021 the Board consists of Seven (7) Directors including one (1) Chairman &Managing Director one (1) Whole time Director & CFO one (1) Whole time Director andfour (4) Non-executive Directors out of which three (3) are Independent Directors.

As on 1st April 2022 the Board of Directors of the Company consists ofEight (8) Directors including one (1)Managing Director one (1) Whole time Director &CFO one (1) Whole time Director five (5) Non-executive Directors out of which one (1)is Chairman & Independent Director two (2) are Independent Directors and one (1)Woman Director (NID).

The composition of the Board is in conformity with Regulation 17 of the SEBI (ListingObligations & Disclosure Requirements) Regulations 2015 and the relevant provisionsof the Companies Act 2013. All the Directors possess the requisite qualifications andexperience in general corporate Management finance banking and other allied fields whichenable them to contribute effectively to the Company in their capacity as Directors of theCompany.

There is no change in directors except that Mrs. Rajni Gupta was appointed as aNon-Executive non-Independent Woman Director w.e.f. 07.05.2021.

Ms Ruchi Gupta is the Company Secretary and Compliance Officer.

DECLARATION BY INDEPENDENT DIRECTORS

All the Independent directors have submitted their disclosure to the Board that theyfulfill all the requirements as to qualify for their appointment as an IndependentDirector under the provisions of Section 149 read with Schedule IV of the Companies Act2013. The Board confirms that the independent directors meet the criteria as laid downunder the Companies Act 2013.

SEPARATE MEETING OF INDEPENDENT DIRECTORS

In accordance with the provisions of Schedule IV to the Companies Act 2013 andRegulation 25(3) of SEBI (LODR) 2015 a separate meeting of the Independent Directors ofthe Company was held on 22nd March 2022 to discuss the agenda items asprescribed under the applicable laws. The meeting was attended by all IndependentDirectors of the Company.

FORMAL ANNUAL EVALUATION

The Companies Act 2013 and SEBI (Listing Obligations and Disclosure requirements)Regulations 2015 mandates that the Board shall monitor and review the Board evaluationi.e. evaluation of the performance of: (i) the Board as a whole (ii) individual directors(including independent directors and Chairperson) and (iii) various Committees of theBoard. The Performance evaluation was carried out by the Nomination and RemunerationCommittee based on the "Annual Evaluation Framework" prepared by the Committee.

The framework 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

In compliance with the Companies Act 2013 and Regulation 17 (10) of the SEBI (ListingObligations and Disclosure Requirement) Regulations 2015 the Board has carried out anevaluation of its own performance Committees and performance of individual Directorsduring the period under review. The aspects covered in the evaluation included thecontribution to and monitoring of corporate governance practices participation in thelong-term strategic planning and the fulfillment of Directors' obligations and fiduciaryresponsibilities including but not limited to active participation at the Board andCommittee meetings. Schedule IV of the Companies Act 2013 states that the performanceevaluation of independent directors shall be done by the entire Board of Directorsexcluding the director being evaluated. The evaluation involves Self-Evaluation by theBoard Members and subsequent assessment by the Board of Directors. The Board of Directorsexpressed their satisfaction with the evaluation process.

The details of the framework for performance evaluation of Independent DirectorsBoard Committees and other individual Directors are placed on the website of the companyat the link: http://prakashwoollen.com/?q=node/190

The details of programmes for familiarization of Independent Directors with theCompany their roles rights responsibilities in the Company nature of the industry inwhich the Company operates business model of the Company and related matters are put upon the website of the Company at the link: https://www.prakashwoollen.com/?q=node/483

REMUNERATION POLICY

The Board of Directors has framed a policy which lays down a framework in relation toremuneration of Directors key managerial personnel and senior management of the company.This policy also lays down criteria for selection and appointment of Board Members.

AUDITORS Statutory Auditors

The shareholders of the Company at AGM held on September 18th 2021 hadappointed M/s. A. Anand & Co. Chartered Accountants (Firm Registration No. 005147C)as the Statutory Auditors of the Company for the 2nd term of 3 years i.e.from the Forty Second Annual General Meeting of the Company to hold such office till theconclusion of the Annual General Meeting of the Company to be held in the year 2024.

Auditors' Report

The Report given by M/s. A. Anand & Co Statutory Auditors on the financialstatement of the Company for the year ended March 2022 is part of the Annual Report. Thereare no qualification reservation or adverse remark or disclaimer in their Report. Duringthe year under review the Auditors had not reported any matter under Section 143 (12) ofthe Act therefore no detail is required to be disclosed under Section 134 (3)(ca) of theAct.

Cost Auditors

Companies (cost records and audit) (Amendment) Rules 2015 are not applicable on theCompany for the financial year 2021-22.

Secretarial Auditor

The Board had appointed Mr. R.S. Bhatia (CP No.2514). Practicing Company Secretary tocarry out Secretarial Audit in accordance with the provisions of Section 204 of theCompanies Act 2013 and the Companies (Appointment and Remuneration of ManagerialPersonnel) Rules 2014 for the financial year ended March 312022. The Secretarial AuditReport for the financial year ended March 31 2022 has been obtained The observationsgiven in the Secretarial Audit Report are self-explanatory and does not require anyfurther clarifications. A copy of Secretarial Audit Report from Mr. R.S. Bhatia forfinancial year ended March 312022 in the prescribed Form No. MR-3 is annexed to thisreport as Annexure I.

COMPOSITION OF COMMITTEES

Audit Committee

The Board of Directors of the Company has a duly constituted Audit Committee in termsof the provisions of Section 177 of the Companies Act 2013 read with the Rules framedthereunder and Regulation 18 of the Listing Regulations. The terms of reference of theAudit Committee has been approved by the Board of Directors. Composition of the AuditCommittee number of meetings held during the year under review brief terms of referenceand other details have been provided in the Corporate Governance Report which forms partof this Annual Report.

The Audit Committee comprises three Non-Executive Independent Directors namely Dr.Satish Kumar Raj (Chairman) Mr. Pramod Kumar Agarwal and Mr. Mahendra Kumar Agrawal asother members. All the recommendations made by the Audit Committee were accepted by theBoard.

Nomination and Remuneration Committee

The Board of Directors constituted a Nomination and Remuneration Committee comprisingthree Non-Executive Independent Directors namely Mr. Mahendra Kumar Agrawal as (Chairman)Dr. Satish Kumar Raj (Member) and Mr. Pramod Kumar Agarwal (Member). The function of theNomination and Remuneration Committee includes recommendation of appointment of KMP(s)Whole-time Director(s)/ Managing Director/Joint Managing Director and recommendation tothe Board of their remuneration.

A Nomination and Remuneration Committee has been constituted under section 178 of theCompanies Act 2013 read with the Rules framed thereunder and Regulation 19 of the ListingRegulations for formulization of the criteria for determining qualifications positiveattributes and independence of a director and recommend to the Board a policy relating tothe remuneration for the directors key managerial personnel and other employees.

The aforesaid policy has been posted on the Website of the Company:-

http://prakashwooNen.com/sites/default/files/Policy%20On%20Nomination%20%26%20Remuneration%20Committee.pdf

Stakeholder Relationship Committee

The Board of Directors constituted a Stakeholder Relationship Committee comprisingthree Non- Executive Independent Directors namely Dr. Satish Kumar Raj (Chairman) Mr.Pramod Kumar Agarwal and Mr. Mahendra Kumar Agrawal as other members. The StakeholderRelationship Committee inter alia oversees and reviews all matters connected with theinvestor services in connection with applications received and shares allotted in theInitial Public Offer status of refund account conversion of partly paid shares intofully paid shares rematerialization and dematerialization of shares and transfer ofshares of the Company.

The Committee oversees performance of the Registrar and Transfer Agents of the Companyand recommends measures for overall improvement in the quality of investor services.

Corporate Social Responsibility Committee

The Corporate Social Responsibility (CSR) Committee comprises three Non- ExecutiveIndependent Directors namely Dr. Satish Kumar Raj (Chairman) Mr. Pramod Kumar Agarwal andMr. Mahendra Kumar Agrawal as other members. The role of CSR Committee includesformulating and recommending to the Board the CSR Policy and activities to be undertakenby the Company recommending the amount of expenditure to be incurred on CSR activities ofthe Company reviewing the performance of Company in the areas of CSR. During thefinancial year ended 31st March 2022 In the Committee meetings held on 07.05.202124.06.2021 & 10.08.2021 the Chairman of Committee had recommended to the Board toapprove the amendments to its CSR Policy as per Companies Act 2013. During the financialyear ended 31st March 2022 the Committee met three times on 07.05.202124.06.2021 &10.08.2021.

The Corporate Social Responsibility Policy put on the Company's website atwww.prakashwoollen.com at the web link: https://www.prakashwoollen.com/?q=node/444

Finance Committee

The Board of Directors of the Company has a duly constituted Finance Committee in termsof the provisions of Section 179(3) of the Companies Act 2013 read with the Rules framedthereunder. The terms of reference of the Finance Committee has been approved by the Boardof Directors. Composition of the Finance Committee number of meetings held during theyear under review brief terms of reference and other details have been provided in theCorporate Governance Report which forms part of this Annual Report.

The Finance Committee comprises three Executive Directors namely Mr. Vijay Kumar Gupta(Chairman) Mr. Daya Kishan Gupta and Mr. Adeep Gupta as other members. All therecommendations made by the Finance Committee were accepted by the Board.

VIGIL MECHANISM / WHISTLE BLOWER POLICY

The Vigil Mechanism of the Company which also incorporates a whistle blower policy interms of provisions of Section 177 of the Companies Act 2013 and Rules framed thereunderread with Regulation 22 of the SEBI (Listing Obligations and Disclosure Requirements)Regulations 2015 includes an Ethics & Compliance Task Force comprising seniorexecutives of the Company. The Company has a whistle blower policy/ vigil mechanism fordirectors and employees to report genuine concerns or grievances.

The whistle Blower policy has been posted on the Website of the Company:-http://prakashwoollen.com/sites/default/files/Whistel%20Blower%20Policy.pdf

MEETINGS OF THE BOARD OF DIRECTORS

Five meetings of the Board of Directors were held during the financial year 2021-22i.e. on 07.05.2021 24.06.2021 10.08.2021 09.11.2021 and 08.02.2022. The details of themeetings of the Board held during the financial year 2021-22 forms part of the CorporateGovernance Report.

PARTICULARS OF LOANS GIVEN INVESTMENTS MADE GUARANTEES GIVEN AND SECURITIES PROVIDED

The Company has given loan in terms of section 186 but has not made investment andprovided security in terms of section 186 of the companies Act 2013.

Loan covered under section 186 of the companies Act 2013 provided in Audit Repor2021-22.

CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

The particulars relating to conservation of energy technology absorption foreignexchange earnings and outgo as required to be disclosed under the Act are provided in AnnexureII to this Report.

DEPOSIT

Your Company has not accepted any deposits under Chapter V of the Companies Act 2013but there was an outstanding loan of Rs. 2993.67 Lakhs as on 31.03.2022 from State Bank ofIndia Revenue received in advance of Rs. 510.65 lakh from customers and unsecuredborrowing of Rs. 460.00 lakh from prompters-directors of the company namely Adeep GuptaHUF Mrs. Anita Gupta Ashish Gupta HUF Daya Kishan Gupta HUF Mr. Aditya Gupta KapilGupta HUF Mrs. Reetika Gupta Mrs. Rajni Gupta Mrs. Shalini Gupta Vijay Kumar Gupta HUFwhich is exempted as deposit under clause (c) of sub rule 1 of rule 2 of Companies(Acceptance of Deposit) Rules 2014.

EXTRACT OF ANNUAL RETURN ANNUAL RETURN

Pursuant to Sec 92(3) of the Companies Act 2013 read with Rule 12 of the Companies(Management and Administration) Rules 2014 the copy of 2021-2022 can be accessed atCompany's website at https://www.prakashwooNen.com/?q=node/497

PREVENTION OF SEXUAL HARASSMENT AT WORKPLACE

The Company has constituted Internal Complaints Committee (ICC) known as Prevention ofSexual Harassment (POSH) Committee to enquire in to complaints of Sexual Harassment andrecommend appropriate action. The Company has not received any complaint of sexualharassment during the financial year 2021-22.

Your Directors state that during the financial year ended March 312022 under reviewthere were no cases filed pursuant to the Sexual Harassment of Women at Workplace(Prevention Prohibition and Redressal) Act 2013.

PARTICULARS OF EMPLOYEES

The information required under Section 197 of the Act read with rule 5(1) of theCompanies (Appointment and Remuneration of Managerial Personnel) Rules 2014 are givenbelow:

a. The ratio of the remuneration of each director to the median remuneration of theemployees of the Company for the financial year:

Non-executive directors Ratio to median Remuneration
Mr. Pramod Kumar Agarwal 0.08:1
Mr. Mahendra Kumar Agrawal 0.08:1
Mr. Satish Kumar Raj 0.09:1
Mrs. Rajni Gupta 0.01:1
Mr. Ved Prakash Gupta 0.01:1
Executive directors Ratio to median Remuneration
Mr. Vijay Kumar Gupta 13.85:1
Mr. Daya Kishan Gupta 13.85:1
Mr. Adeep Gupta 13.97:1

b. The percentage increase in remuneration of each director chief executive officerchief financial officer company secretary in the financial year:

Directors Chief Executive Officer Chief Financial Officer and Company Secretary % increase in remuneration in the financial year
Mr. Vijay Kumar Gupta 14.29
Mr. Daya Kishan Gupta 14.29
Mr. Adeep Gupta 34.21
Mrs. Rajni Gupta 0.01
Mr. Ved Prakash Gupta 0.01
Mr. Pramod Kumar Agarwal 0.08
Mr. Mahendra Kumar Agrawal 0.08
Mr. Satish Kumar Raj 0.09
Ms. Ruchi Gupta 12.63

Remuneration of Independent Director is sitting fees.

c. The percentage increase in the median remuneration of employees in the financialyear: 8.47%

d. The number of permanent employees on the rolls of Company: 460

e. Average percentile increase already made in the salaries of employees other than themanagerial personnel in the last financial year and its comparison with the percentileincrease in the managerial remuneration and justification thereof and point out if thereare any exceptional circumstances for increase in the managerial remuneration:

The average annual increase was around 11.27%.

Increase in the managerial remuneration for the year was 23.13%.

f. Affirmation that the remuneration is as per the remuneration policy of the Company:

The Company affirms remuneration is as per the remuneration policy of the Company.

Information Pursuant to compliance of Section 197 of the Act read with rule 5(2) of theCompanies (Appointment and Remuneration of Managerial Personnel) Rules 2014.

S. No Name of The Employee Designation Nature of Employment Educational Qualification Age Experience (in years) Date of Joining Remuneration Paid () Whether employee is relative of Director
1 Vijay Kumar Gupta Whole Time Director & CFO Permanent Commerce Graduate 70 43 23/08/1979 7200000 Brother of Mr. Daya Kishan Gupta Mr. Jai Kishan Gupta Mr. Ved Prakash Gupta Uncle of Mr. Adeep Gupta and Brother in law of Mrs. Rajni Gupta
2 Daya Kishan Gupta Managing Director Permanent Commerce Graduate 74 43 18/07/2019 7200000 Brother of Mr. Vijay Kumar Gupta Mr. Ved Prakash Gupta Uncle of Mr. Adeep Gupta and Husband of Mrs. Rajni Gupta
3 Adeep Gupta Whole Time Director Permanent Commerce Graduate 51 25 15/06/2020 7261385 Son of Late Mr. Jai Kishan Gupta and nephew of Mr. Vijay Kumar Gupta Mr. Daya Kishan Gupta Mr. Ved Prakash Gupta and Mrs. Rajni Gupta
4 Kapil Gupta Vice President-Sales & Marketing Permanent M.Com 48 22 01/06/2004 2452000 Son of Mr. Daya Kishan Gupta
5 Ashish Gupta Vice President- Finance Permanent Commerce Graduate 44 18 010/7/2004 2452000 Son of Mr. Vijay Kumar Gupta
6 Sanjay Kumar Agarwal Manager- Plant & Operations Permanent Mechanical Engineer-B.E 63 36 01/04/2000 01/12/2021 2277000 NIL
7 Praveen Gupta Manager Accounts Permanent B.Com FCA 63 36 01/08/2020 1959000 NIL
8 Omkar Dongre General Manager Permanent Diploma in Industrial Management 64 41 010/9/2020 1166500 NIL

GENERAL DISCLOSURES

Your Directors state that no disclosure or reporting is required in respect of thefollowing items as there were no transactions on these items during the year under review:

• Details relating to deposits covered under Chapter V of the Act.

• Issue of equity shares with differential rights as to dividend voting orotherwise.

• Issue of shares (including sweat equity shares/ ESOP) to employees of theCompany under any scheme.

• Neither the Managing Director nor the Whole-time Directors of the Companyreceive any remuneration or commission from any of its subsidiaries.

• No significant or material

• Orders were passed by the Regulators or Courts or Tribunals which impact thegoing concern status and Company's operations in future.

ACKNOWLEDGEMENT

Your Directors would like to express their sincere appreciation for the assistance andco-operation received from the financial institutions banks Government authoritiescustomers vendors and members during the year under review.

Your Directors proudly acknowledge the contribution and hard work of the employees ofthe Company and its subsidiaries at all levels who through their competence hard worksolidarity and commitment have enabled the Company to achieve consistent growth.

For and on behalf of the Board of Directors
Satish Kumar Raj Daya Kishan Gupta
Place: Vill Amhera (J.P.Nagar) Chairman Managing Director
Date : 18th July 2022 DIN: 00852221 DIN: 00337569

.