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Shukra Pharmaceuticals Ltd.

BSE: 524632 Sector: Health care
NSE: N.A. ISIN Code: INE551C01028
BSE 00:00 | 27 Jan 226.90 10.80
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NSE 05:30 | 01 Jan Shukra Pharmaceuticals Ltd
OPEN 226.90
PREVIOUS CLOSE 216.10
VOLUME 2875
52-Week high 226.90
52-Week low 53.50
P/E 32.32
Mkt Cap.(Rs cr) 36
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 226.90
CLOSE 216.10
VOLUME 2875
52-Week high 226.90
52-Week low 53.50
P/E 32.32
Mkt Cap.(Rs cr) 36
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Shukra Pharmaceuticals Ltd. (SHUKRAPHARMA) - Director Report

Company director report

To

The Members

Shukra Pharmaceuticals Limited

The Directors' present the 29th Annual report on the business and operations of yourCompany for the financial year 2021-22.

1) FINANCIAL RESULTS AND OPERATIONAL REVIEW:

(Amount In Lacs)

Particulars Year Ended 31.03.2022 (Rs.) Year Ended 31.03.2021 (Rs.)
Gross Sales/Income 2056.70 1155.23
Less Depreciation 166.21 147.37
Profit/(Loss) before Tax 101.80 9.78
Taxes/Deferred Taxes 26.73 (9.03)
Profit/(Loss) After Taxes 75.07 18.81
P& L Balance b/f 1403.36 1384.55
Profit/ (Loss) carried to Balance Sheet 1478.43 1403.36

2) BRIEF DESCRIPTION OF THE COMPANY'S WORKING DURING THE YEAR/STATE OF COMPANY'SAFFAIR:

During the period under review the Company has been engaged in the business ofmanufacturing and trading of pharmaceuticals Products laboratory testing and made aprofit of Rs. 75.07 lacs. Your Directors are optimistic about company's business andhopeful of better performance with increased revenue in next year.

3) CHANGE IN THE NATURE OF BUSINESS:

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

4) DIVIDEND:

The Board of Director of the company make recommendation of final dividend of 5% (Rs.0.50 per equity share of Rs. 10 each face value) for the Financial Year 2021-22 subjectto the approval of shareholders in the ensuing Annual General Meeting.

5) TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCATION AND PROTECTION FUND:

The company does not have any amount which required to be transferred to the InvestorEducation and Protection Fund (IEPF).

6) SEGMENT:

The Company is operating only in two sector i.e. pharmaceutical and Laboratory. Butduring the year the laboratory segment has commenced very minor commercial operation.

7) TRANSFER TO RESERVES:

Out of the profits available for appropriation no amount has been transferred to theGeneral Reserve and the balance amount of Rs.75.07/- Lacs has been carried forward tocredit balance of profit & loss account in surplus.

8) CHANGES IN SHARE CAPITAL:

The paid up Equity Share Capital of the Company as on March 31 2022 isRs.15656750/-

A) Issue of equity shares with differential rights:

During the year under review the Company has not issued any shares with differentialvoting rights.

B) Issue of sweat equity shares:

During the year under review the Company has not issued any sweat equity shares.

C) Issue of employee stock options:

During the year under review the Company has not issued any sweat equity shares.

D) Provision of money by company for purchase of its own shares by employees or bytrustees for the benefit of employees:

The Company has no scheme of provision of money for purchase of its own shares byemployees or by trustees for the benefit of employees. Hence the details under rule 16 (4)of Companies (Share Capital and Debentures) Rules 2014 are not required to be disclosed.

9) FINANCE:

The Company has borrowed loan of Rs.11008000/-from Bank/Financial institution duringthe year under review.

10) DETAILS PERTAINING TO SHARES IN SUSPENSE ACCOUNT:

The Company does not have any shares in the demat suspense account or unclaimedsuspense account. Hence Disclosures with respect to demat suspense account/ unclaimedsuspense account are not required to mention here.

11) MATTERS RELATED TO DIRECTORS AND KEY MANAGERIAL PERSONNEL:

Mr. Dakshesh Rameshchandra Shah (DIN: 00561666) Director retire by rotation at theforthcoming Annual General Meeting and being eligible offer himself for reappointment.

a) Key Managerial Personnel:

The following are the Key Managerial Personnel of the Company.

Mr. Dakshesh Shah Managing Director
Mr. Mehulkumar Patel Chief Financial Officer
Ms. Arpita Kabra Company Secretary & Compliance Officer

During the year the following changes occurred in the Composition of Board Directorsand KMP due to Appointments and Resignations of Director and KMP:

Name and Designation Date of Appointment Date of Resignation
Mr. Nileshkumar Patel (Director) - 12/02/2022
Mr. Rai Kavoorguthu Konark (Additional Independent Director) 25/08/2022 --

12) NUMBER OF MEETINGS OF BOARD OF DIRECTORS:

The meetings of the Board of Directors are held at periodical intervals and aregenerally at the registered office of the Company Ahmedabad. The meeting dates aredecided well in advance and the agenda and notes on agenda are circulated in advance tothe directors. All material information is incorporated in the notes on agenda forfacilitating meaningful and focused discussion at the meeting. Where it is not perusableto attach supporting or relevant documents to the agendas the same is tabled before themeeting. In case of business exigencies or urgency of matters resolutions are passed bycirculation. Senior Management persons are often invited to attend the Board Meetings andprovide clarifications as and when required.

During the year 2021-22 04 (Four) Board Meetings were convened and duly held on:

29/06/2021 14/08/2021 30/10/2021 12/02/2022

The Board of Directors of the Company was present at the following Board Meeting heldduring the year under review:

Name of Director Board Meeting Held Meetings attended Attendance at last AGM
Dakshesh Rameshchandra Shah 4 4 Yes
Payalben Sujay Mehta 4 4 Yes
Sujay Jyotindra Mehta 4 4 Yes
Nileshkumar Patel 4 4 Yes
Bhoomiben Patel 4 4 Yes
Ashvin Trivedi 4 4 Yes

* Nileshkumar Patel resigned w.e.f. 12.02.2022

13) STATEMENT INDICATING THE MANNER IN WHICH FORMAL ANNUAL EVALUATION HAS BEEN MADE BYTHE BOARD OF ITS OWN PERFORMANCE AND THAT OF ITS COMMITTEES AND INDIVIDUAL DIRECTORS:

Pursuant to the provisions of the Companies Act 2013 and SEBI (Listing Obligations andDisclosure Requirement) Regulations 2015 the Board has carried out an annualperformance evaluation of its own performance the directors individually as well as theevaluation of the working of its Audit Nomination and Remuneration Committees.

During the year the Board adopted a formal mechanism for evaluating its performanceand as well as that of its Committees and individual Directors including the Chairman ofthe Board. The exercise was carried out through a structured evaluation process coveringvarious aspects of the Boards functioning such as composition of the Board &committees experience & competencies performance of specific duties &obligations governance issues etc. Separate exercise was carried out to evaluate theperformance of individual Directors including the Board Chairman who were evaluated onparameters such as attendance contribution at the meetings and otherwise independentjudgment safeguarding of minority shareholders interest etc.

The evaluation of the Independent Directors was carried out by the entire Board andthat of the Chairman and the NonIndependent Directors were carried out by the IndependentDirectors.

The Directors were satisfied with the evaluation results which reflected the overallengagement of the Board and its Committees with the Company.

14) PARTICULARS OF EMPLOYEES & EMPLOYEE REMUNERATION:

The table containing the names and other particulars of employees in accordance withthe provisions of Section 197(12) of the Companies Act 2013 read with Rule 5(1) of theCompanies (Appointment and Remuneration of Managerial Personnel) Rules 2014 is providedas "Annexure- A" to the Board's report.

None of the employees of the Company drew remuneration of Rs. 10200000/- or more perannum and Rs. 850000/- or more per month during the year. No employee was in receipt ofremuneration during the year or part thereof which in the aggregate at a rate which isin excess of the remuneration drawn by the managing director or whole-time director ormanager and holds by himself or along with his spouse and dependent children not lessthan two percent of the equity shares of the company.

15) EMPLOYEE RELATIONS:

Employee relations throughout the Company were harmonious. The Board wishes to place onrecord its sincere appreciation of the devoted efforts of all employees in advancing theCompany's vision and strategy to deliver good performance.

16) REPORT ON PERFORMANCE AND FINANCIAL POSITION OF SUBSIDIARIES ASSOCIATES AND JOINTVENTURE COMPANIES:

The Company has not any Subsidiaries Associates And Joint Venture Companies

17) CHANGE OF NAME:

The Company has not changed its name during the year under review.

18) STATUTORY AUDITORS:

The Company's Auditors M/s Maak & Associates Chartered Accountants Ahmedabad whowas appointed in the Annual General Meeting in the year 2021 for a block of 5 years untilthe conclusion of the Annual General Meeting to be held in 2026.

19) COST AUDITORS:

The Company has not appointed the Cost Auditor as pursuant to Section 148 of theCompanies Act 2013 read with the Companies (Cost Records and Audit) Amendment Rules2014 since the cost audit is not applicable to the Company.

20) SECRETARIAL AUDIT REPORT:

Pursuant to the provisions of Section 204 of the Companies Act 2013 and The Companies(Appointment and Remuneration of Managerial Personnel) Rules 2014 the Company hasappointed CS Rupal Patel Practicing Company Secretary to undertake the Secretarial Auditof the Company. The Secretarial Audit Report is annexed herewith as "Annexure-B".

Reply to the qualification Remarks in Secretarial Audit Report:

1. Although the company has not published notice of meeting of the board of directorswhere financial results shall be discussed and declared. However the same was uploaded onthe website of the Company and BSE.

21) RESPONSE TO AUDITOR'S REMARKS:

There are no Observation made by the Statutory Auditors in their Report and thereforedo not call for any further comments under section 134(3)(f) of the Companies Act 2013.

22) INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY:s

The Company has an Internal Control System commensurate with the size scale andcomplexity of its operations. During the year under review the company retained externalaudit firm to review its existing internal control system with a view of tighten the sameand introduce system of self-certification by all the process owners to ensure thatinternal controls over all the key business processes are operative. The scope andauthority of the Internal Audit (IA) function is defined in the Internal Audit Charter.

The Internal Audit Department monitors and evaluates the efficacy and adequacy ofinternal control system in the Company its compliance with operating systems accountingprocedures and policies at all locations of the Company and its subsidiaries. Based on thereport of internal audit function process owners undertake corrective action in theirrespective areas and thereby strengthen the controls. Significant audit observations andcorrective actions thereon are presented to the Audit Committee of the Board.

23) AUDIT COMMITTEE:

The Audit Committee of the Board of Directors of the Company comprises 3 Members. aswell as those in section 177 of the Companies Act 2013 and include the reviewing ofquarterly half-yearly and annual financial statements before submission to the Boardensure compliance of internal control systems and internal audit timely payment ofstatutory dues and other matters.

During the year under review 4 meetings of the committee were held 29/06/202114/08/2021 30/10/2021 and 12/02/2022. The composition of committee and attendance at itsmeetings is given below:

Sr. No. Name Position Category Number of meeting Attend
1 Ms. Bhoomiben Patel Chairman Non-Executive Independent Director 4
2 Mr. Nileshkumar Patel* Member Independent Director 4
3 Ms. Payal Sujay Mehta Member Executive Director 4
4 Mr. Ashvin Trivedi # Member Non-Executive non Independent Director -
5 Mr. Rai Kavoorguthu Konark ## Member Additional independent Director -

*Mr. Nilesh kumar Patel resigned from the Directorship of company on 12/02/2022.

# Mr. Ashvin Trivedi was appointed as member in the Committee w.e.f. 12/02/2022 andresigned on 25/08/2022 ##Mr. Rai Kavoorguthu Konark was appointed as member in theCommittee w.e.f. 25/08/2022

24) VIGIL MECHANISM:

The Company has a vigil mechanism named Whistle Blower Policy to deal with instances offraud and mismanagement if any. The company has adopted a Whistle Blower Policy whichaffords protection and confidentially to Whistle blowers. The Audit Committee Chairman isauthorized to receive Protected Disclosures under this Policy. The Audit Committee is alsoauthorized to supervise the conduct of investigations of any disclosures made whistleblowers in accordance with policy.

No personnel have been denied access to the Audit Committee. As of March 31 2022 noProtected Disclosures have been received under this policy.

25) NOMINATION AND REMUNERATION COMMITTEE:

The Board of Directors of the company have constituted a Nomination & RemunerationCommittee of Directors mainly for the purposes of recommending the Company's policy onRemuneration Package for the Managing/Executive Directors reviewing the structure designand implementation of remuneration policy in respect of key management personnel.

The Nomination & Remuneration Committee consisted of 3 Members. During the yearunder review 01 meetings of the committee were held 12/02/2022. The name of membersChairman and their attendance at the Remuneration Committee Meeting are as under Committeeof Board:

Sr. No. Name Position Category Number of meeting Attend
1 Ms. Bhoomiben Patel Chairman Non-Executive Independent Director 1
2 Mr. Nileshkumar Patel* Member Independent Director 1
3 Ms. Payal Sujay Mehta Member Executive Director 1
4 Mr. Ashvin Trivedi # Member Non-Executive non independent director Director
5 Mr. Rai Kavoorguthu Konark Member Additional independent Director -

*Mr. Nilesh kumar Patel resigned from the Directorship of company on 12/02/2022.

# Mr. Ashvin Trivedi was appointed as member in the Committee w.e.f. 12/02/2022 andresigned on 25/08/2022 ##Mr. Rai Kavoorguthu Konark was appointed as member in theCommittee w.e.f. 25/08/2022

The Board has on the recommendation of the Nomination and Remuneration Committeeframed a policy for selectiot and appointment of Directors Key Managerial Personnel andSenior Management and their remuneration. The Remuneration Policy is also available on theCompany's website at www.shukrapharmaceuticals.com

26) STAKEHOLDERS RELATIONSHIP COMMITTEE:

The Stakeholders Relationship Committee consisted of 3 Members. During the year underreview 4 meetings of the committee were held 20/04/2021 21/07/2021 05/10/2021 and08/01/2022. The name of members Chairman and their attendance at the StakeholdersRelationship Committee are as under Committee of Board:

Sr. No. Name Position Category Number of meeting Attend
1 Ms. Bhoomiben Patel Chairman Non-Executive Independent Director 4
2 Mr. Nileshkumar Patel* Member Independent Director 4
3 Ms. Payal Sujay Mehta Member Executive Director 4
4 Mr. Ashvin Trivedi # Member Non- Executive Director non independent director -
5 Mr. Rai Kavoorguthu Konark Member Additional independent Director

*Mr. Nilesh kumar Patel resigned from the Directorship of company on 12/02/2022.

# Mr. Ashvin Trivedi was appointed as member in the Committee w.e.f. 12/02/2022 andresigned on 25/08/2022

##Mr. Rai Kavoorguthu Konark was appointed as member in the Committee w.e.f. 25/08/2022

The status of shareholders' complaints received so far/number not solved to thesatisfaction of shareholders/number of pending share transfer transactions (as on 31stMarch 2022 is given below):-

Complaints Status: 01.04.2021 to 31.03.2022
Number of complaints received so far 0
Number of complaints solved 0
Number of pending complaints 0

Compliance Officer:

Ms. Arpita Kabra is appointed as a Compliance Officer of the company w.e.f. 04thJanuary 2021 for the purpose of complying with various provisions of Securities andExchange Board of India (SEBI) Listing Agreement with Stock Exchanges Registrar ofCompanies and for monitoring the share transfer process etc.

a) Share Transfer System:

All the transfers are received and processed by share Transfer agents and are approvedby share transfer committee. Share Transfer requests received in physical form areregistered within 30 days and demat requests are confirmed within 15 days.

b) Dematerialization of shares and liquidity:

Details of Registrar and Share Transfer agent of the Company for dematerialization ofshares:

Name: Purva Sharegistry (India) Private Limited

Address: Unit no. 9 Shiv Shakti Ind. Estt. J .R. Boricha marg Opp. Kasturba HospitalLane

Lower Parel (E) Mumbai 400011.

Tel : 22-2301 2518 / 6761

Fax: 022 - 23012517

Email: support@purvashare.com

27) STATEMENT CONCERNING DEVELOPMENT AND IMPLEMENTATION OF RISK MANAGEMENT POLICY OFTHE COMPANY:

The Company has laid down a Risk Management Policy and identified threat of such eventswhich if occurs will adversely affect either / or value to shareholders ability ofcompany to achieve objectives ability to implement business strategies the manner inwhich the company operates and reputation as "Risks". Further such Risks arecategorized in to Strategic Risks Operating Risks & Regulatory Risks. A detailedexercise is carried out to identify evaluate manage and monitoring all the three typesof risks.

28) EXTRACT OF ANNUAL RETURN:

As required pursuant to section 92(3) of the Companies Act 2013 and rule 12(1) of theCompanies (Management and Administration) Rules 2014 an extract of Annual Return of theCompany as on March 31 2022 is available on the Company's website and can be accessed atwww.shukrapharmaceuticals.com.

29) MATERIAL CHANGES AND COMMITMENTS IF ANY AFFECTING THE FINANCIAL POSITION OF THECOMPANY WHICH HAVE OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR OF THE COMPANY TO WHICHTHE FINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT:

During the period the Board of Directors of the company has considered and approvedraising of funds by way of offer and issue of equity shares to the existing members of theCompany on rights basis (Rights Issue) at such price and right entitlement ratio as maybe decided by the Board for an amount aggregating up to Rs. 19 crores subject tonecessary approvals and consent as may be necessary/required for compliance of applicablelaws including the provisions of the SEBI (ICDR) Regulations 2018 as amended the SEBI(LODR) Regulations 2015 as amended and the Companies Act 2013 as amended.

There is no any Material changes occurred except mentioned above subsequent to theclose of the financial year of the Company to which the balance sheet relates and the dateof the report.

30) DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS ORTRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY'S OPERATIONS IN FUTURE:

There is no significant and material order passed by the regulators or courts ortribunals impacting the going concern status and company's operations in future during theyear under review.

31) PROCEEDINGS UNDER INSOLVENCY AND BANKRUPTCY CODE 2016:

During the year under review there were no proceedings that were filed by the Companyor against the Company which are pending under the Insolvency and Bankruptcy Code 2016as amended before National Company Law Tribunal or other Courts.

32) DETAILS IN RESPECT OF ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO THEFINANCIAL STATEMENTS:

The Company has adequate and proper internal financial controls with reference to theFinancial Statements during the year under review.

33) PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:

All related party transactions that were entered into during the financial year were onan arm's length basis and were in the ordinary course of business. There were nomaterially significant related party transactions made by the Company with PromotersDirectors Key Managerial Personnel or other designated persons which may have a potentialconflict with the interest of the Company at large.

34) PUBLIC DEPOSIT:

During the year under review the Company has not accepted any deposits to which theprovisions of section 73 74 of the Companies Act 2013 read with Acceptance of DepositsRules 2014 as amended are applicable.

35) PARTICULARS OF LOANS GUARANTEES OR INVESTMENTS UNDER SECTION 186:

Details of Loans Guarantees and Investments covered under the provisions of Section186 of the Companies Act 2013 are given in the notes to the Financial Statements.

36) CORPORATE GOVERNANCE:

As per SEBI circular no: CFD/POLICYCELL/7/2014 dated 15th September 2014 (Regulation27(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 shallnot be mandatory to the following class of companies:

a) Companies having paid up equity share capital not exceeding Rs.10 crore and NetWorth not exceeding Rs.25 crore as on the last day of the previous financial year;

Provided that where the provisions of (Regulation 27(2) of SEBI (Listing Obligationsand Disclosure Requirements) Regulations 2015 becomes applicable to a company at a laterdate such company shall comply with the requirements of (Regulation 27(2) of SEBI(Listing Obligations and Disclosure Requirements) Regulations 2015 within six months fromthe date on which the provisions became applicable to the company.

Accordingly it may be noted that the paid up share capital of the Company is below Rs.10 crore and Net Worth of the Company has not exceeded Rs.25 crore as on 31st March 2022and hence Corporate Governance is not applicable to the Company.

37) MANAGEMENT DISCUSSION AND ANALYSIS:

Management discussion and analysis Report pursuant to Schedule V of the SEBI (ListingObligations and Disclosure Requirement) Regulations 2015 forms part of this Report andthe same is annexed as "Annexure-C".

38) DETAIL OF FRAUD AS PER AUDITORS REPORT:

There is no fraud in the Company during the Financial Year ended 31st March 2022. Thisis also being supported by the report of the auditors of the Company as no fraud has beenreported in their audit report for the financial year ended 31st March 2022.

39) OBLIGATION OF COMPANY UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE(PREVENTION. PROHIBITION AND REDRESSAL) ACT 2013:

The Company has zero tolerance for sexual harassment at workplace and has adopted apolicy against sexual harassment in line with the provisions of Sexual Harassment of Womenat Workplace (Prevention Prohibition and Redressal) Act 2013 and the rules framed thereunder.

During the financial year 2021-22 the company has not received any complaints onsexual harassment and hence no complaints remain pending as of 31 March 2022.

40) CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS ANDOUTGO:

The information on conservation of energy technology absorption and foreign exchangeearnings and outgo stipulated under Section 134(3) (m) of the Companies Act 2013 readwith Rule 8 of The Companies (Accounts) Rules 2014 is annexed herewith as"Annexure-D".

41) CORPORATE SOCIAL RESPONSILIBILTY (CSR):

The Provision of Section 135 of the Company Act 2013 are not applicable since thecompany does not fall under Category of Rule 9 of the Corporate Responsibility Rules 2014.

42) DIRECTORS' RESPONSIBILITY STATEMENT:

To the best of their knowledge and belief and according to the information andexplanations obtained by them your Directors make the following statements in terms ofSection 134(3) (c) of the Companies Act 2013:

a) that in the preparation of the annual financial statements for the year ended March31 2022 the applicable accounting standards have been followed along with properexplanation relating to material departures if any;

b) that such accounting policies have been selected and applied consistently andjudgment and estimates have been made that are reasonable and prudent so as to give a trueand fair view of the state of affairs of the Company as at March 31 2022 and of theprofit of the Company for the year ended on that date;

c) that proper and sufficient care has been taken for the maintenance of adequateaccounting records in accordance with the provisions of the Companies Act 2013 forsafeguarding the assets of the Company and for preventing and detecting fraud and otherirregularities;

d) that the annual financial statements have been prepared on a going concern basis;

e) that proper internal financial controls were in place and that the financialcontrols were adequate and were operating effectively;

f) that systems to ensure compliance with the provisions of all applicable laws were inplace and were adequate and operating effectively

43) SECRETARIAL STANDARDS:

The Directors State that applicable Secretarial Standards i.e. SS-1 and SS-2 relatingto 'Meetings of the Board of Directors' and General Meetings' respectively have beenduly followed by the Company.

44) LISTING WITH STOCK EXCHANGES:

The Company confirms that it has paid the Annual Listing Fees for the year 2021-22 toBSE where the Company's Shares are listed.

45) PREVENTION OF INSIDER TRADING:

In January 2015 SEBI notified the SEBI (Prohibition of Insider Trading) Regulation2015 which came into effect from May 2015. Pursuant thereto the Company has formulatedand adopted a new code for Prevention of Insider Trading.

The New Code viz. "Code of Internal Procedures and Conduct for regulatingMonitoring and reporting of Trading by Insiders" and "Code of Practices andProcedures for fair Disclosure of Unpublished price Sensitive Information" has beenframed and adopted. The Code requires pre-clearance for dealing in the Company's sharesand prohibits purchase or sale of Company shares by the Directors and designated employeeswhile in possession of unpublished price sensitive information in relation to the Companyand during the period when the Trading Window is closed.

The Company is Responsible for implementation of the Code.

46) ACKNOWLEDGEMENTS:

The management is grateful to the government authorities Bankers Vendors for theircontinued assistance and cooperation. The directors also wish to place on record theconfidence of members in the company.

For On Behalf of Shukra Pharmaceuticals Limited
Date : 01.09.2022
Place : Ahmedabad
SD/- SD/- SD/-
Dakshesh Shah Payal Mehta Arpita Kabra
Managing Director Director Company Secretary
(DIN: 00561666) (DIN: 02145421) & Compliance Officer

.