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Shree Rama Newsprint Ltd.

BSE: 500356 Sector: Industrials
NSE: RAMANEWS ISIN Code: INE278B01020
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NSE 00:00 | 17 Jun 19.30 -0.35
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VOLUME 28721
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OPEN 20.10
CLOSE 19.65
VOLUME 28721
52-Week high 20.85
52-Week low 11.70
P/E
Mkt Cap.(Rs cr) 285
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Shree Rama Newsprint Ltd. (RAMANEWS) - Director Report

Company director report

To

The Members of

SHREE RAMA NEWSPRINT LIMITED

Your Directors are pleased to present the 29th Annual Report together withthe Audited Accounts for the Financial Year ended on 31st March 2020.

FINANCIAL RESULTS:

Rs in Lakhs

PARTICULARS Year Ended 31-03-2020 Year Ended 31-03-2019
Revenue from operations 33653.27 50382.76
Other Income 372.14 170.39
Profit/(Loss) before Interest Depreciation and Tax 1244.95 9014.18
Finance Cost 3212.62 2864.61
Profit/(Loss) before Depreciation and Tax (1967.67) 6149.57
Depreciation 2496.04 2326.83
Profit /(Loss) before Tax and exceptional items (4463.71) 3822.74
Other comprehensive income (29.52) (17.98)
Net Profit/Loss after other comprehensive income (4493.23) 3804.76

PERFORMANCE:

The Company has achieved production of 76008 MT (58% capacity utilization) during theF.Y. 2019-20 as against 124814 MT (95% capacity utilization ) achieved in F.Y. 2018-19i.e. lower by 48806 MT (37%) for want of orders and shutdown of PM I from 16.01.2020 forrebuild. The Company has achieved sales of 85190 MT during F.Y. 2019-20 as against110497 tons during F.Y. 2018-19. During the year under review the Company has alsoproduced Writing & Printing Paper of 28922 MT as against 465 MT in the previous year.The company has sold 24832 MT of Writing & Printing Paper in F.Y. 2019-20 as against374 MT in F.Y. 2018-19.

The Company has commissioned packaged water bottling plant of 32000 bottles per houron 1.07.2019. The Company produced 1000417 cases (41517168 bottles) of water bottlewhereas sale was of 855407 cases (35969952 bottles) of water bottle during the yearunder review.

The Company has revamped Paper Machine No. I and trial production on it started from02.07.2020. Though the machine was erected in March 2020 but its commissioning was delayeddue to COVID-19 related restrictions.

The Company has achieved turnover of Rs 336.53 Crores in F.Y. 2019-20 as againstRs 503.83 Crores in F.Y. 2018-19.

The cash loss before depreciation and tax was Rs 19.68 Crores in F.Y. 2019-20 asagainst cash profit before depreciation and tax of Rs 61.50 Crores in F.Y. 2018-19.The Net loss was of Rs 44.93 Crores in F.Y. 2019-20 as against Net profit of Rs38.05 Crores in F.Y. 2018-19.

The paper industry is passing through demand slump post COVID-19 related restrictionsfrom 25.03.2020 which has its impact on the working of the company in both paper andpackaged water divisions. Future operations of the Company would be subject todevelopments on COVID-19 front together with full opening of the economy but the matteris uncertain as on date.

EXPORT:

Export in Foreign exchange of Newsprint was 2440 MT worth Rs 9.72 Crores (FOB)in F.Y. 2019-20 as against 2511 MT worth Rs 12.34 Crores (FOB) in F.Y. 2018-19 whereas direct and indirect export was of 3274 MT worth Rs 13.33 Crores in F.Y.2019-20 as against 2858 MT worth Rs 14.59 Crores in F.Y. 2018-19.

DIVIDEND:

Your Directors has not recommended any dividend for the year under review due to lossessuffered.

SHARE CAPITAL:

The paid up Equity Share Capital as at 31st March 2020 stood at Rs1475220320/-. During the year under review the Company has neither issued shares orconvertible securities nor shares with differential voting rights and has not granted anystock options or sweat equity or warrants.

TRANSFER TO RESERVES:

In view of losses suffered by the Company the Board has not proposed to transfer anyamount to the General Reserves or any other Reserve for the year under review.

FINANCES:

The Inter Corporate Deposit from holding company (i.e. Riddhi Siddhi Gluco Biols Ltd)has increased from Rs 153.15 Crores as on 31.03.2019 to Rs 210.14 Crores(inclusive of accrued interest of Rs 16.66 Crores for F.Y. 2019-20 and Rs10.28 Crores for F.Y. 2018-19) as on 31.03.2020. The company has repaid loan of Rs9.56 Crores to ICICI Bank Limited after availing moratorium of Rs 3.00 Crores aspermitted by RBI as per circular dated 27.03.2020.

DEPOSIT:

The Company has not accepted or renewed any deposit during the year and there is nooutstanding on this account in books of the Company.

SUBSIDIARIES JOINT VENTURES AND ASSOCIATE COMPANIES:

The Company does not have any joint venture subsidiary or associate company within themeaning of Section 2(6) of the Companies Act 2013.

EXTRACT OF ANNUAL RETURN:

The details forming part of the extract of the Annual Return as on 31.03.2020 in formMGT-9 is annexed herewith as "Annexure I". PARTICULARS OF LOANSGUARANTEES OR INVESTMENTS UNDER SECTION 186:

The Company has not given any loans or guarantees covered under the provisions ofsection 186 of the Companies Act 2013. However details of investment made by the Companyare mentioned in the financial statement of the Company.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:

The Company has entered into related party transactions as enumerated in Section 188 ofthe Companies Act 2013 during the year under review and disclosed the said information inForm AOC-2 which is attached as "Annexure - II".

NUMBER OF MEETINGS OF THE BOARD:

During the year under review 5 (Five) Board Meetings were convened and held anddetails thereof are mentioned in the Report on Corporate Governance forming part of thisAnnual Report. The intervening gap between the Meetings was within the period prescribedunder the Companies Act 2013.

BOARD OF DIRECTORS AND KEY MANAGERIAL PERSONNEL:

Mr. Siddharth G. Chowdhary (DIN: 01798350) retires from the office by rotation andbeing eligible offers himself for re-appointment.

The Company subject to approval of its members in the ensuing Annual General Meetinghas reappointed Independent Directors Mr. Keerthinarayanan Hemmige Mr. K.L. Chandak Mr.Utkarsh Shah for further period of 5 years.

The brief resume of the Director proposed to be reappointed nature of his expertise inspecific functional areas names of Companies in which he holds Directorships andMemberships of Board Committees shareholding are provided in the Notice to Members asper regulation 36(3) the Securities and Exchange Board of India (Listing Obligations andDisclosure Requirements) Regulations 2015 forms a part of this Annual Report.

DIRECTORS' RESPONSIBILITY STATEMENT PURSUANT TO SECTION 134(3)(c) OF THE COMPANIES ACT2013:

The Directors hereby confirm that: -

1. in the preparation of the Annual Accounts the applicable Accounting Standards hadbeen followed along with proper explanation relating to material departures;

2. 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;

3. 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;

4. the Directors had prepared the annual accounts on a going concern basis;

5. the Directors in the case of a listed company had laid down internal financialcontrols to be followed by the company and that such internal financial controls areadequate and were operating effectively; and

6. the Directors had devised proper systems to ensure compliance with the provisions ofall applicable laws and that such systems were adequate and operating effectively

STATEMENT OF DECLARATION GIVEN BY INDEPENDENT DIRECTORS:

Pursuant to Section 149(6) of the Companies Act 2013 Independent Directors of theCompany have made a declaration confirming the compliance of the criteria of independencestipulated in the aforesaid section.

DETAILS OF COMMITTEE OF DIRECTORS:

The Composition of Audit Committee of Directors Nomination and Remuneration Committeeof Directors and Stakeholders Relationship/ Grievances Committee of Directors CorporateSocial Responsibility Committee of directors number of meetings held of each Committeeduring the financial year 2019-20 and meetings attended by each member of the Committee asrequired under the Companies Act 2013 and SEBI (Listing Obligations and DisclosureRequirements) Regulations 2015 are provided in Corporate Governance Report forming partof this Annual Report.

ANNUAL EVALUATION BY THE BOARD OF ITS OWN PERFORMANCE ITS COMMITTEES AND INDIVIDUALDIRECTORS:

The Company has devised a Policy for performance evaluation of the Board Committeesand other individual Directors (including Independent Directors) which includes criteriafor performance evaluation of the Non-Executive Directors and Executive Directors. Theevaluation process inter alia considers attendance of Directors at Board and committeemeetings acquaintance with business communicating inter-se board members effectiveparticipation domain knowledge compliance with code of conduct vision and strategybenchmarks established by global peers etc. which is in compliance with applicable lawsregulations and guidelines.

The Board carried out annual performance evaluation of the Board Board Committees andIndividual Directors and Chairman. The Chairman of the respective Board Committees sharedthe report on evaluation with the respective Committee members. The performance of eachCommittee was evaluated by the Board based on report on evaluation received fromrespective Board Committees.

The reports on performance evaluation of the Individual Directors were reviewed by theChairman of the Board.

In compliance with the provisions of the Companies Act 2013 and SEBI (ListingObligations and Disclosures Requirements) Regulations 2015 the performance evaluationwas carried out as under:

Board:

In accordance with the criteria suggested by the Nomination and Remuneration Committeethe Board of Directors evaluated the performance of the Board having regard to variouscriteria such as Board composition Board processes Board dynamics etc. The IndependentDirectors at their separate meetings also evaluated the performance of the Board as awhole based on various criteria specified by Companies Act 2013. The Board and theIndependent Directors were of the unanimous view that performance of the Board ofDirectors as a whole was satisfactory.

Committees of the Board:

The performance of the Audit Committee the Nomination and Remuneration Committee andthe Stakeholders Relationship Committee was evaluated by the Board having regard tovarious criteria such as committee composition committee processes committee dynamicsetc. The Board was of the unanimous view that all the committees were performing theirfunctions satisfactorily and according to the mandate prescribed by the Board under theregulatory requirements including the provisions of the Act the Rules framed thereunderand the SEBI (Listing Obligations and Disclosures Requirements) Regulations 2015.

Individual Directors:

Independent Directors:

In accordance with the criteria suggested by the Nomination and Remuneration Committeethe performance of each Independent Director was evaluated by the entire Board ofDirectors (excluding the Director being evaluated) on various parameters like engagementleadership analysis decision making communication governance and interest ofstakeholders. The Board was of the unanimous view that each Independent Director was areputed professional and brought his/her rich experience to the deliberations of theBoard. The Board also appreciated the contribution made by all the Independent Directorsin guiding the management in achieving higher growth and concluded that continuance ofeach Independent Director on the Board will be in the interest of the Company.

Non-Independent Directors:

The performance of each of the Non-Independent Directors (including the Chairperson)was evaluated by the Independent Directors at their separate meeting. Further theirperformance was also evaluated by the Board of Directors. The various criteria consideredfor the purpose of evaluation included leadership engagement transparency analysisdecision making functional knowledge governance and interest of stakeholders. TheIndependent Directors and the Board were of the unanimous view that each of theNon-Independent Directors was providing good business and people leadership.

Confirm that Independent Directors have complied with the Code for IndependentDirectors prescribed in Schedule IV to the Act.

Further confirm that necessary declaration with respect to independence has beenreceived from all the Independent Directors of the Company.

INTERNAL CONTROL SYSTEMS:

The Company has an adequate system of internal control procedures which is commensuratewith the size and nature of business. Detailed procedural manuals are in place to ensurethat all the assets are safeguarded protected against loss and all transactions areauthorised recorded and reported correctly. The internal control systems of the Companyare monitored and evaluated by internal auditors and their audit reports are periodicallyreviewed by the Audit Committee of the Board of Directors.

APPOINTMENT AND REMUNERATION POLICY:

The Board has on the recommendation of the Nomination & Remuneration Committeeframed a policy for selection and appointment of Directors Senior Management and theirremuneration which is available on Company's website at www.ramanewsprint.com.

WHISTLE BLOWER POLICY:

The Company has formulated a Whistle Blower Policy to establish a vigil mechanism forDirectors Employees and other Stakeholders of the Company to report concerns aboutillegal and unethical practices unethical behavior actual or suspected fraud orviolation of the Company's Code of Conduct or Ethics Policy which is available at theCompany's website atwww.ramanewsprint.com.

ADOPTION OF POLICES AS PER THE SECURITIES AND EXCHANGE BOARD OF INDIA (LISTINGOBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS 2015:

The Board framed policies on Preservation of Documents and Determining Materiality forDisclosure to Stock Exchanges which are available at the Company's website atwww.ramanewsprint.com

RISK MANAGEMENT:

During the year the Management of the Company had evaluated the existing RiskManagement Policy of the Company. The Risk Management policy has been reviewed and foundadequate and sufficient to the requirement of the Company. The Management has evaluatedvarious risks and that there is no element of risk identified that may threaten theexistence of the Company.

LISTING OF SHARES:

Equity Shares of Company continue to be listed on BSE Ltd. (BSE) and National StockExchange of India Ltd. (NSE). The Company has duly paid listing fees to the stockexchanges.

ENERGY CONSERVATION TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:

Particulars with respect to Conservation of Energy Technology Absorption ForeignExchange Earnings and Outgo as required u/s 134(3)(m) of the Companies Act 2013 read withCompanies (Accounts) Rules 2014 are furnished as "Annexure - III" tothis Report and forms part of it.

CORPORATE GOVERNANCE & MANAGEMENT DISCUSSION &ANALYSIS:

Report on Corporate Governance and Management Discussion and Analysis is made part ofthis Annual Report.

As required by SEBI(Listing Obligation and Disclosure Requirements) Regulations 2015the Certificate of Practicing Company Secretary on Corporate Governance compliance is alsoannexed to this Annual Report.

The Certificates from Chief Executive Officer and Chief Financial Officer were placedbefore the Board of Directors at its meeting held on 29.05.2020 is also annexed to thisAnnual Report.

PARTICULARS OF EMPLOYEES:

The information as per section 197(12) of the Companies Act 2013 read with Rule 5(2)of the Companies (Appointment and remuneration of managerial personnel) Rules 2014 are asper "Annexure- IV".

SECRETARIAL AUDIT:

Pursuant to the provisions of Section 204 of the Companies Act 2013 read with Rule 9of the Companies (Appointment and remuneration of Managerial Personnel) Rules 2014 theBoard on the recommendations of the Audit Committee has appointed Mr. Ravi KapoorProprietor of M/s. Ravi Kapoor & Associates Company Secretaries in Practice toundertake the Secretarial Audit of the Company for the financial year ended on 31stMarch 2020. Secretarial Audit Report issued by them in form MR-3 forms part of thisreport and marked as "Annexure-V".

COST AUDIT:

The audit of cost accounts of the Company is being carried out by M/s Nanty Shah andAssociates Cost Accountants (FRN: 101268) for F.Y. 2019-20 and after completion of theaudit they will submit their report to the Company and the same will be submitted with theCentral Government.

CASH FLOW STATEMENT:

As required under Regulation 34 of the Securities and Exchange Board of India (ListingObligations and Disclosure Requirements) Regulations 2015 the Cash Flow Statement isattached to the Annual report.

AUDITORS:

M/s. Batliboi & Purohit Chartered Accountants (FRN: 101048W) were appointed asAuditors of the Company for a term of 5 (five) consecutive years in the Annual GeneralMeeting held on 23rd September 2017. M/s. Batliboi & Purohit CharteredAccountants will continue to act as Auditors of the Company till conclusion of AnnualGeneral Meeting held for financial year2021-22.

EXPLANATIONS OR COMMENTS BY BOARD ON EVERY QUALIFICATION RESERVATION OR ADVERSE REMARKOR DISCLAIMER MADE:

(i) by the Auditor in his report;

There is no qualification reservation or adverse remark or disclaimer in audit reportissued by the Auditors of the Company.

(ii) By the Company Secretary in Practice in his Secretarial Audit Report;

There is no qualification reservation or adverse remark or disclaimer in secretarialaudit report issued by the Secretarial Auditor.

CORPORATE SOCIAL RESPONSIBILITY:

The Company is required to form Corporate Social Responsibility Committee("CSR") or policy as per section 135 (1) of the Companies Act 2013 since thesame is applicable to it as per criterion laid down therein.

The Company has constituted a CSR Committee on 12.08.2019. One meeting was held on12.02.2020. However Company was not required to do any expense in view of lossessuffered.

However the Company is meeting its social obligations as it supplies free drinkingwater to nearby villages. The Company is also running a modern English medium school forimparting quality education to local persons and undertakes various community welfare jobsfrom time to time. The Company is also maintaining colony for workers & staff whichhas all the modern amenities.

MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY:

In terms of Section 134(3)(i) of the Companies Act 2013 it is reported that exceptas disclosed elsewhere in this report no material changes and commitments which couldaffect the Company's financial position have occurred between the end of the financialyear of the Company and date of this report

REPORTING OF FRAUD:

There was no instance of fraud during the year under review which required theStatutory Auditors to report to the Audit Committee and/or Board under section 143(12) ofAct and Rules framed thereunder.

COMPLIANCE WITH SECRETARIAL STANDARDS:

Your Directors confirm that Company complies with applicable mandatory SecretarialStandards issued by The Institute of Company Secretaries of India.

SIGNIFICANT AND MATERIAL ORDERS:

During the year under review there are no material orders passed by Regulators Courtsor Tribunals affecting the going concern status and company's operations in future.

INDUSTRIAL RELATIONS:

The industrial relations remained cordial throughout the year under review.

DISCLOSURE UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION PROHIBITION &REDRESSAL) ACT 2013:

The Board has developed the Sexual Harassment Policy of the Company for safety of thewomen employees employed in the Company. Further no complaint / case have been filed /pending with the Company during the year.

ACKNOWLEDGEMENT:

The Directors wish to place on record and acknowledge their appreciation and gratitudefor the continued co-operation and support received from the Union Government the StateGovernment of Gujarat Regulatory Bodies participating Financial Institutions and BanksCustomers Suppliers and Dealers. The Directors take this opportunity to express theirappreciation towards the dedication commitment and teamwork shown by employees which hasresulted in improved working results. Your Directors further thank Members/Shareholdersfor their continued confidence reposed in the Management of the Company.

On behalf of the Board of Directors For Shree Rama Newsprint Limited
(Ganpatraj L. Chowdhary)
Date : 29.08.2020 Chairman
Place: Ahmedabad DIN:00344816

Annexure I

FORM NO. MGT 9

EXTRACT OF ANNUAL RETURN

As on financial year ended on 31.03.2020

Pursuant to Section 92 (3) of the Companies Act 2013 and rule 12(1) of the Company(Management & Administration) Rules 2014.

I. REGISTRATION & OTHER DETAILS:

1. CIN L21010GJ1991PLC019432
2. Registration Date 10th July 1991
3. Name of the Company Shree Rama Newsprint Limited
4. Category/Sub-category of the Company Public Company Limited by shares
5. Address of the Registered office & contact details Village Barbodhan Taluka Olpad Dist: Surat Gujarat- 395 005 Tel: +91-2621-224-203/4/5 Fax: +91-2621-224-206 Email: ramasurat@ramanewsprint.com Web: www.ramanewsprint.com
6. Whether listed company Listed
7. Name Address & contact details of the Registrar & Transfer Agent if any. Link Intime India Pvt. Ltd. C - 101247 Park L.B.S Marg Vikhroli (West) Mumbai - 400 083. Ph. : 022 - 49186000 Fax : 022 - 49186060 Email: rnt.helpdesk@linkintime.co.in

II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY:

(All the business activities contributing 10 % or more of the total turnover of thecompany shall be stated)

Name and Description of main products / services NIC Code of the Product/ service % to total turnover of the company
1 Newsprint & Writing and Printing paper 2803 97.00
2 Packaged drinking water 11043 03.00

III. PARTICULARS OF HOLDING SUBSIDIARY AND ASSOCIATE COMPANIES:

All the business activities contributing 10 % or more of the total turnover of thecompany shall be stated:-

Name and address of the Company CIN/GLN HOLDING/SUBSIDIARY/ASSOCIATE
1 Riddhi Siddhi Gluco Biols Limited 10 Abhishree Corporate Park Nr. Swagat Bunglows BRTS Bus-stand Ambli- Bopal Road Ambli Ahmedabad-380058 L24110GJ1990PLC013967 Holding

IV. SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of Total Equity)

(i). Category-wise Share Holding:

Category of Shareholders

No. of Shares held at the beginning of the year [As on 31-March-2019]

No. of Shares held at the end of the year [As on 31-March-2020]

% change in shareholding during the year

Demat Physical Total % of Total Shares Demat Physical Total % of Total Shares
A. Promoters
(1) Indian
a) Individual/ HUF - - - -
b) Central Govt - - - -
c) State Govt(s) - - - -
d) Bodies Corp. 95660547 95660547 64.84 102990547 102990547 69.81 4.97
e) Banks / FI - - - -
f) Any other - - - -
Total shareholding of Promoter (A)(1) 95660547 95660547 64.84 102990547 102990547 69.81 4.97
FOREIGN:
Individual (Non resident Individuals/ Foreign Individuals)
Body corporate - - -
Institutions - - - -
Any Other (specify) - - - -
SUB TOTAL (A)(2) - - - -
TOTAL SHAREHOLDING OF PROMOTER &PROMOTER GROUP (A)=(A) (1)+(A)(2) 95660547 95660547 64.84 102990547 102990547 69.81 4.97
B. Public Shareholding
1. Institutions
a) Mutual Funds 14050 34675 48725 0.03 14050 34675 48725 0.03
b) Banks / FI 2249413 13475 2262888 1.53 2253988 13400 2267388 1.54 0.01
c) Central Govt 75 - 75 - 75 75
d) State Govt(s) - - - -
e) Venture Capital Funds - - - -
f)Insurance Companies - - - -
g) FIIs - 60725 60725 0.04 60725 60725 0.04
h) Foreign Venture Capital Funds - - -

 

Category of Shareholders

No. of Shares held at the beginning of the year [As on 31-March-2019]

No. of Shares held at the end of the year [As on 31-March-2020]

% change in shareholding during the year

Demat Physical Total % of Total Shares Demat Physical Total % of Total Shares
i) Others (specify) (Foreign Mutual Funds) 12300 12300 0.01 12300 12300 0.01
UTI - 10050 10050 0.01 10050 10050 0.01
Sub-total (B)(1):- 2263538 131225 2394763 1.62 2268113 131150 2399263 1.63 0.01
2. NonInstitutions
a) Bodies Corporates 5495360 68375 5563735 3.77 13462865 68175 13531040 9.17 5.4
b) Individuals
i) Individual shareholders holding nominal share capital upto 1 lakh 9581009 2288345 11869354 8.04 9288611 2252720 11541331 7.82 (0.22)
ii) Individual shareholders holding nominal share capital in excess of Rs 1 lakh 28953586 11800 28965386 19.63 14470789 9.82 14482589 9.82 (9.82)
c) Others (specify) NBFC regd with RBI 50919 50919 0.03 875 875 0.00 (0.03)
Non Resident Indian (Non Repat) 59204 125 59329 0.04 71614 125 71739 0.05 0.01
Non Resident Indian (Repat) 401168 71175 472343 0.32 346399 70050 416449 0.28 (0.04)
Overseas Corporate Bodies 564850 1675 566525 0.38 564850 1675 566525 0.38
Trusts 200 - 200 - 200 200
Partnership - 200 200 - 200 200
Hindu Undivided Family 1692497 550 1693047 1.15 1486334 600 1486934 1.01 (0.14)
Clearing Members 224309 - 224309 0.15 33065 33065 0.02 0.13
Office Bearers - 1375 1375 - 1275 1275
Sub-total (B)(2):- 47023102 2443620 49466722 33.53 39725602 2406620 42132222 28.55 (4.98)
Total Public Shareholding (B)=(B)(1)+ (B)(2) 49286640 2574845 51861485 35.16 39725602 2406620 42132222 30.18 4.98
C. Shares heldby Custodian for GDRs & ADRs
Grand Total (A+B+C) 144947187 2574845 147522032 100.00 144984262 2537770 147522032 100.00 -

(ii) Shareholding of Promoter:

Shareholder's Name

Shareholding at the beginning of the year ( 01-April 2019)

Shareholding at the end of the year (31-March 2020)

% change in shareholding during the year

No. of Shares % of total Shares of the company % of Shares Pledged / encumbered to total shares No. of Shares % of total Shares of the company % of Shares Pledged / encumbered to total shares
1 Riddhi Siddhi Gluco Biols Limited 95660547 64.84 - 102990547 69.81 - 4.97
TOTAL 95660547 64.84 - 102990547 69.81 - 4.97

(iii) Change in Promoters' Shareholding (please specify if there is no change):

Name of the shareholder

Shareholding at the beginning of the year (01.04.2019)

Increase/Decrease in shareholding

Shareholding at the end of the year (31.03.2020)

No. of shares % of total shares of the Company Date No. of shares Reason No. of shares % of total shares of the Company
Riddhi Siddhi Gluco Biols Limited 95660547 64.84 27.09.2019 7330000 Through open market By way of purchase on block deal window of National Stock Exchange of India Limited. 102990547 69.81

(iv) *Shareholding Pattern of top ten Shareholders:

(Other than Directors Promoters and Holders of GDRs and ADRs):

Name of the shareholder

Shareholding at the beginning of the year (01.04.2019)

Increase/ Decrease in shareholding

Shareholding at the end of the year (31.03.2020)

No. of shares % of total shares of the Company No. of shares Reason No. of shares % of total shares of the Company
1 Innovative Derivatives Private Limited 0 0 7840000 Purchased from open market on 15.10.2019 7840000 5.31
2 Kailash Kabra 7840000 5.31 7840000 Sale of shares in open market on 15.10.2019 - -
3 Globe Capital Market Limited 2868690 1.94 40673 Purchase during the year 2909363 1.97
4 ICICI Bank Limited 2248313 1.52 - - 2248313 1.52
5 Ketan kumar Patel 8804418 5.97 7330000 Sale on 27.09.2019 in open market 1474418 0.99
6 Jamson Securities Private Limited 999000 0.67 - - 999000 0.67
7 Jagruti Shaunak Shah Shaunak Jagdish Shah 999000 0.67 - - 999000 0.67
8 Shaunak Jagdish Shah Jagruti Shaunak Shah 999000 0.67 - - 999000 0.67
9 Jagdish Amritlal Shah Shaunak Jagdish Shah Jagruti Shaunak Shah 999000 0.67 - 999000 0.67
10 Hemang Omprakash Mehta 618109 0.42 108718 Purchased during the year 726827 0.49

*The Shares of the Company are traded on daily basis and hence the date wiseincrease/decrease in shareholding is not indicated. Shareholding is consolidated based onPermanent Account Number (PAN) of shareholder.

(v) Shareholding of Directors and Key Managerial Personnel:

Name of the shareholder Shareholding at the beginning of the year (01.04.2019) Increase/Decrease in shareholding Shareholding at the end of the year (31.03.2020)
No. of shares % of total shares of the Company Date No. Of shares Reason No. of shares % of total shares of the Company
1. Ganpatraj L. Chowdhary Nil - - - - Nil -
2. Siddharth G. Chowdhary Nil - - - - Nil -
3. K.L. Chandak 6250 Negligible - - - 6250 Negligible
4. Meenu Sajjak Singhvi Nil - - - - Nil -
5. Keerthinarayanan Hemmige Nil - - - - Nil -
6. Utkarsh B. Shah Nil - - - - Nil -

V. INDEBTEDNESS: Indebtedness of the Company including interest outstanding/accruedbut not due for payment.

(Amount Rs In Lakhs)

Particulars Secured Loans excluding deposits Unsecured Loans Deposits Total Indebtedness
Indebtedness at the beginning of the financial year
i) Principal Amount 15303.27 16935.13 353.40 32591.81
ii) Interest due but not paid - 925.58 - 925.58
iii) Interest accrued but not due 1.94 - - 1.94
Total (i+ii+iii) 15305.22 17860.71 353.40 33519.33
Change in Indebtedness during the financial year
* Addition 314.44 5848.32 15.86 6178.62
* Reduction - - - -
Net Change 314.44 5848.32 15.86 6178.62
Indebtedness at the end of the financial year
i) Principal Amount 15604.25 22182.99 369.26 38156.50
ii) Interest due but not paid - 1526.03 1526.03
iii) Interest accrued but not due 15.41 - - 15.41
Total (i+ii+iii) 15619.66 23709.03 369.26 39697.94

VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL:

A. REMUNERATION TO MANAGING DIRECTOR WHOLE-TIME DIRECTORS AND/OR MANAGER:

(Amount Rs In Lakhs)

SN. Particulars of Remuneration Mr. Siddharth G. Chowdhary
1 Gross salary
(a) Salary as per provisions contained in section 17(1) of the Income-tax Act 1961 71.50
(b) Value of perquisites u/s 17(2) Income-tax Act 1961 -
(c) Profits in lieu of salary under section 17(3) Income- tax Act 1961 -
2 Stock Option -
3 Sweat Equity -
4 Commission - as % of profit - others specify...
5 Others please specify (Employer PF contribution) 8.31
Total(A) 79.81
Ceiling as per the Act (p.a.) As per Schedule V of the Companies Act 2013

B. REMUNERATION TO OTHER DIRECTORS:

(Amount Rs In Lakhs)

Particulars of Remuneration

Name of Directors

Total Amount

Mr. Ganpatraj Chowdhary Mr. Utkarsh Shah Mrs. Meenu Singhvi Mr. Keerthi Narayan Mr. K. L. Chandak
Independent Directors
Fee for attending board committee meetings - 0.45 0.75 0.60 0.45 2.25
Commission
Others please specify
Total(1) - 0.45 0.75 0.60 0.45 2.25
Other Non-Executive Directors
Fee for attending board committee meetings 0.45 - - - - 0.45
Commission - - - - - -
Others please specify - - - - - -
Total(2) 0.45 - - - - 0.45
Total (B)=(1+2) 0.45 0.45 0.75 0.60 0.45 2.70
Total Managerial Remuneration (A+B) 82.51

C. REMUNERATION TO KEY MANAGERIAL PERSONNEL OTHER THAN MD/MANAGER/WTD:

(Amount Rs In Lakhs)

SN Particulars of Remuneration Company Secretary Mr.P.K. Mundra
1 Gross salary
(a) Salary as per provisions contained in section 17(1) of the Income-tax Act 1961 52.51
(b) Value of perquisites u/s 17(2) Income-tax Act 1961 7.30
(c) Profits in lieu of salary under section 17(3) Income-tax Act 1961 -
2 Stock Option -
3 Sweat Equity -
4 Commission -
- as % of profit -
others specify... -
5 Others please specify (Employer PF Contribution) 3.33
Total 63.14

VII. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES:- NIL

Type Section of the Companies Act Brief Description Details of Penalty / Punishment/ Compounding fees imposed Authority [RD / NCLT/ COURT] Appeal made if any (give Details)
A. COMPANY
Penalty

NIL

Punishment
Compounding
B. DIRECTORS
Penalty

NIL

Punishment
Compounding
C. OTHER OFFICERS IN DEFAULT
Penalty

NIL

Punishment
Compounding

 

On behalf of the Board of Directors For Shree Rama Newsprint Limited
(Ganpatraj L. Chowdhary)
Date : 29.08.2020 Chairman
Place: Ahmedabad DIN:00344816