SC AGROTECH LIMITED
(Formerly known as Sheel international Ltd)
Your Directors have Pleasure in Presenting the 29th Annual Report togetherwith audited statement of accounts for the year ended 31st March 2019.
Financial Performance:- (Amount inRs.)
|Particulars || |
As on 31.03.2019
As on 31.03.2018
|Income || || |
|Revenue from operations (gross) || |
|Other Income || |
|Total Revenue || |
|Expenses || || |
|Purchase || |
|Employee benefits expense || |
|Finance Cost || |
|Depreciation and amortization expenses || |
|Other expenses || |
|Total Expenses || |
|Profit (loss) before exceptional and extraordinary items and tax || |
|Less: Exceptional Items & Current Tax || || |
|1 Prior Period Tax Credit ||0 || |
|2. Current year tax Exp ||75440 ||85040 |
|Less:-MAT credit entitlement ||(75440) ||(85040) |
|EARLIER YEARS ||20510 || |
|DEFFERED TAX || |
|Profit/ (loss) after Tax and exceptional Items || |
OPERATIONS AND FUTURE PLANS:
The operations for the year under review show Profit before tax of Rs. 395906 andProfit after tax and tax credit of Rs 500238
In view of the past track of the financial position of the company not to earn muchmore profits and its occurred loss since last several year company is not in the positionis to distribute Dividend to its shareholders.
There is no change in the Authorised Share Capital and paid up Share Capital of theCompany during the previous year.
DIRECTORS AND KMP:
|Name of Director || |
|Sh. Nitin Maheshwari || |
Whole Time Director
|Sh. Shashi Ranjan Kumar || |
|Sh Anil kumar || |
|Smt. Nayadita Sharma || |
|Sh. Ajay Rawat || |
|Sh. Amit Sehgal || |
Chief Financial officer
Chief financial officer
In pursuant to Section 152 of the Companies Act 2013 Smt. Nayadita Sharma retiresby rotation at the ensuing Annual General meeting and being eligible offer herself forre-appointment .The Board recommended their re-appointment.
Mr. Amit seghal has been appointed as Chief financial officer of the company w.e.f24.04.2019
Mr. Ajay Rawat the company secretary and compliance officer of the has been resignedfrom the employment w.e.f 1st August 2019.
The Directors responsibility statement pursuant to section 134 (5) of the CompaniesAct 2013 is annexed there to
Directors have pleasure to State:
i) That in the preparation of the annual accounts for the financial year ended 31stMarch 2019 the applicable accounting standards has been followed along with properexplanations if any relating to materialdepartures.
ii) That 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 at the end of thefinancial year and the Profit/ Loss of the Company for the year underreview.
iii) That the Directors have taken proper and sufficient care for the maintenance ofadequate accounting records in accordance with the provisions of the Companies Act 2013for safeguarding the assets of the Company and for preventing and detecting fraud andotherirregularities.
iv) That the Directors have prepared the annual accounts ongoing concernbasis.
v) That the Directors have laid down the Internal Financial control to be followed bythe Company and that such internal Financial Controls are adequate and wereoperatingeffectively.
vi) That the Director have devised proper system to ensure compliance with theprovision of all applicable law that such system was adequate and operatingeffectively.
SECRETARIAL AUDIT REPORT
Pursuant to the provisions of section 204 of the Companies Act 2013 and the Companies(Appointment and remuneration of managerial persons ) rules 2014 the Company hasappointed Mr. Dillip Chandra Maharathi ( CP No. 13496) M/s D. Maharathi & Associatescompany Secretaries to undertake the Secretarial Audit of the Company for the financialperiod 2018-19.
The Secretarial Audit report for the financial period ended 31st march 2019is attached as Annexure- A of this Board's report. The Secretarial Audit report does notcontain any qualification reservation or adverse remark.
CORPORATE SOCIAL RESPONSIBILITY:
The Company is not required to constitute a Corporate Social Responsibility Committeeas it does not fall within the purview of Section 135(1) of the Companies Act 2013 andhence it is not required to formulate policy on Corporate Social responsibility.
RISK MANAGEMENT POLICY:
The Company has in place a dynamic Risk management framework for a systematic approachto con trol risks as the framework identifies evaluates business risks and opportunitiesand seeks to create transparency and minimize adverse impact on the busine ss The riskmanagement process is appropriately handled by functional heads. As on Date The Companyenvisage risks which could threaten the existence of the company.
During the year under review neither any fixed deposit has been invited nor any fixeddeposit have been renewed by the Company under the provisions of section 73 of theCompanies Act 2013 read with Companies (Acceptance of Deposits) Rules 1975 from thepublic.
CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUT GO.
Statement pursuant of Section 134 (3) (m) of the Company Act 2013 are annexed heretoand forming part of the report.
CORPORATE GOVERNANCE AND COMPLIANCE CERTIFICATE:
The Company has taken adequate steps to adhere to all the stipulations laid down underSecurities and Exchange Board of India (Listing Obligations and Disclosure Requirements)Regulations 2015. A report on Corporate Governance included as a part of this AnnualReport is given in Annexure-B
LISTING AT STOCK EXCHANGE:
The Equity Shares of the Company are listed on Bombay Stock Exchanges Limited (BSE).
The Auditor's Report does not contain any qualifications reservations or adverseremarks.
EXTRACT OF ANNUAL RETURN:
As prescribed under Section 92(3) of the Act the Extract of the Annual return in Formno. MGT-9 is annexed herewith as Annexure-D to this report.
The Board expresses its gratitude to the Government Authorities Financial Institutionsand Bankers for their continued and valuable support and co-operation extended to theCompany. The Board also gratefully acknowledged the support extended by the suppliersInvestors dealers Shareholders of Company. The Board also wish to place on records theirsincere appreciation of the wholehearted co-operation extended and the valuablecontribution made by the employees of all levels. Your directors sincerely thank allmembers for supporting us during the difficult days. We look forward to your continuedsupport and reiterate that we are determined to ensure that the plans are successfullyimplemented.
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FOR AND ON BEHALF OF THE BOARD
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For SC AGROTECH LIMITED
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(Formerly Known as Sheel International Limited)
|Date: 01.08.2019 || |
|Place: NewDelhi || |
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Executive/Whole Time Director