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SMVD Poly Pack Ltd.

BSE: 535038 Sector: Industrials
NSE: SMVD ISIN Code: INE702Y01013
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SMVD Poly Pack Ltd. (SMVD) - Director Report

Company director report

To

The Members

Your Directors have pleasure in presenting the ninth Annual Report of the companytogether with the Audited Accounts for the year ended 31st March 2018.

FINANCIAL HIGHLIGHTS (Rs. in lakh)
Particulars Current Year Previous Year
Revenue from operations 4722.63 3570.78
Operating Profit 306.57 212.08
Other Income 23.55 41.76
Depreciation (89.38) (83.01)
Profit before tax 240.74 170.83
Tax Expenses :
Current Tax (49.08) (32.46)
MAT Credit Entitlement 31.08 00
Deferred Tax (8.88) (18.94)
Total 89.04 51.40
Net Profit 213.86 119.43
Other Comprehensive Income/(Loss) for the year net of tax 00 00
Total Comprehensive Income 213.86 119.43
Add : Balance Brought forward from last year 77.51 (42.20)
291.37 77.23

Performance of the Company

During the year under review the Company has earned a profit of Rs. 213.86 Lakhsat a turnover of Rs. 4722.63 Lakhs compared to a net profit of Rs. 119.43 Lakhsat a turnover of Rs. 3570.78 Lakhs in the previous year 2016-17.

Dividend

To conserve the resources of the Company for the proposed expansion plans long –term working capital requirements and for General Corporate purposes the Board ofDirectors of the Company did not recommend any dividend for the year 2017-18.

Increase in Authorised Share Capital

During the financial year under review the Authorised Share Capital of the Company wasincreased from Rs.15000000/- (Rupees One Crore fifty Lacs) divided into 1500000(Fifteen Lacs) Equity Shares of Rs.10/- (Rupees Ten) each to Rs. 50000000 (Rupees FiveCrores) divided into 5000000 (Fifty Lacs) Equity Shares of Rs.10/- (Rupees Ten) eachwhich has been approved by the Shareholders in the ExtraOrdinary General Meeting of theCompany held on 17th July 2017.

Conversion of the Company

Pursuant to the applicable provisions of the Companies Act 2013 and all other acts ifany read with the rules made thereunder and with the approval of the shareholders in theExtra-Ordinary General Meeting the Company got converted from ‘SMVD POLY PACK PVT.LTD.' To ‘ SMVD POLY PACK LTD.'

Issue of Shares

During the financial year under review the Company has allotted 1995240 equity Sharesof Rs. 10/- each as Bonus to the existing shareholders of the Company in the ratio of 3:2on 31st July 2017.

Further the Company successfully came out with an IPO (Initial Public Offering) byallotment of 1640000 shares of Rs. 10/- each at a premium of Rs. 45/- each on 20thDecember 2017 and got listed on NSE SME EMERGE platform on 26th December 2017.

The issue size was Rs. 90200000/-(Rupees Nine crores two lakhs only) consisting of1640000 equity shares of Rs. 55/- per share (Face value of Rs. 10/- per share andpremium of Rs. 45/- per share).The issue opened for subscription on December 13 2017 andclosed on December 15 2017.Th e money raised through IPO has been utilized for thepurpose as stated in the offer document.

Particulars Amount allotted for Objects as stated in the Prospectus (Amount in Lacs) Utilization of fund received from allotment of shares by 31st March 2018. (Amount in Lacs) Balance amount to be utilized (Amount in Lacs) Deviation or Variation (if any)
Issue related Expenses 55.20 55.20 Nil Nil
Capital Expenditure for Business Expansion 651.30 413.86 237.44 Nil
Working Capital Requirement 95.50 95.50 Nil Nil
General Corporate Purpose 100.00 100.00 Nil Nil

Public Deposits

The Company has not accepted any Deposits during the year no deposits remained unpaidor unclaimed as at the end of the year and there was no default in repayment of depositsor payment of interest thereon during the year.

Transfer to Reserves

The Company has not transferred any amount to General Reserves during the year underreview.

Directors' Responsibility Statement

Pursuant to the provisions of Section 134(5) of the Companies Act 2013 your Directorshereby confirm that:

i) In the preparation of the annual accounts the applicable accounting standards hadbeen followed along with proper explanation related to material departures;

ii) Appropriate accounting policies have been selected and applied consistently andjudgements and estimates that are reasonable and prudent have been made so as to give atrue and fair view of the state of affairs of the Company as at 31st March 2018 and ofthe Profit of the Company for the year ended on 31st March 2018;

iii) Proper and sufficient care has been taken to the best of their knowledge andability for the maintenance of adequate accounting records in accordance with theprovisions of this Actfor safeguarding the assets of the Company and for preventing anddetecting fraud and other irregularities;

iv) Th e annual accounts have been prepared on a going concern basis;

v) 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

vi) Proper systems have been devised to ensure compliance with the provisions of allapplicable laws and that such systems are adequate and operating effectively.

Directors and Key Managerial Personnel

Appointments

Mr. Pawan Kumar Agarwal (DIN: 00325033) was appointed as an Additional Non-ExecutiveDirector of the Company w.e.f. 22nd June 2017 and was regularized thereafter in theAnnual General Meeting of the Company held on 25th August 2017.

Mr. Nikhil Pansari (DIN: 07931549) Ms. Shruti Singhal (DIN: 07931823) and Mr. VarunRoongta (DIN: 07931849) were appointed as Additional Directors (Non ExecutiveIndependentDirectors) of the Company with effect from 8th September 2017 pursuant to Section 149152 160 and 161 of the Companies Act 2013 and other applicable provisions of the saidAct and thereafter the said appointment was confirmed by the shareholders in their meetingheld on 15th September 2017. Now they would hold office for a consecutive period of fiveyears as per Section 149(10) and their term of office would no longer be required toretire by rotation in view of Section 149(13) of the Companies Act 2013. They haveprovided declaration of their independence as per Section 149(6) of the Companies Act2013.

Retirement by Rotation

Pursuant to the provisions of Section 152(6) and other applicable provisions of theCompanies Act 2013 and Articles of Association of the Company Mrs. Sangita Agarwal (DIN: 02860390) Non-Executive Director of the Company retires by rotation at the ensuingAnnual General Meeting and being eligible offered herself for reappointment.

Key Managerial Personnel

Mr. Pramod Kumar Agarwal (DIN: 00324999) Whole-time Director of the Company wasappointed as Chairman & Managing Director (KMP) of the Company w.e.f. 8th September2017.

Mr. Prateek Kumar Agarwal Company Secretary was appointed as Company Secretary &Compliance officer of the Company designated as KMPw.e.f. 8th September 2017. Heresigned from his post w.e.f. 1st March 2018.

Mr. Nirmal Parakh Chartered Accountant was appointed as Chief Financial Officer (CFO)designated as KMP of the Company w.e.f. 8th September 2017.

Mrs. Shikha Agarwal Company Secretary was appointed as Company Secretary &Compliance officer of the Company designated as KMP w.e.f. 1st March 2018.

Auditors

Statutory Auditors

The Statutory Auditors of the Company M/s. Kamani S.K. & Co. Chartered Accountantshas resigned w.e.f. 11th May 2018.

As per the provisions of Section 139(8) of the Companies Act 2013 read with the rulesmade thereunder and on recommendation of the Audit Committee M/s. D.K. Parmanandka &Co. Chartered Accountants were appointed as Statutory Auditors of the Company in casualvacancy by the Board of Directors in their meeting held on 19th May 2018 subject toapproval of the Shareholders in the General Meeting convened within 3 months of suchrecommendation of the Board.Requisite letter pursuant to Section 139 and 141 of theCompanies Act 2013 from M/s. D.K. Parmanandka & Co. Chartered Accountants (FirmRegistration No. 322388E) about their consent and eligibility for appointment as theStatutory Auditors of the Company has been received by the Company. Hence the matter isplaced before the shareholders for their approval in the forthcoming Annual GeneralMeeting.

Pursuant to the provisions of the said Section 139(8) of the Companies Act 2013 andrules made thereunder the term of office of M/s D.K. Parmanandka & Co. CharteredAccountants (Firm Registration No. 322388E) as the Statutory Auditors of the Company willconclude from the close of ensuing Annual General Meeting of the Company.

Based on the recommendation of the Audit Committee the Board of Directors hasrecommended the re-appointment of M/s D.K. Parmanandka & Co. Chartered Accountants(Firm Registration No 322388E) as the Statutory Auditors of the Company for a term of oneyear commencing from the conclusion of the 9th Annual General Meeting of the Company tillthe conclusion of the 10th Annual General Meeting. Approval of appointment of StatutoryAuditors is being sought from the members of the Company at the ensuing AGM. Requisiteletter pursuant to Section 139 and 141 of the Companies Act 2013 about their consent andeligibility for appointment as the Statutory Auditors of the Company has been received bythe Company.

Th e Notes to Accounts as referred in the Auditors' Report are self - explanatory andhence does not call for any further explanation.

Internal Auditors

The Board had appointed M/s. P.K. Rathi & Associates Chartered Accountant as theInternal Auditors of the Company to carry out the Internal Audit for the FY17-18 under theprovisions of section 138 of the Companies Act 2013.

Th e Board had appointed M/s. C L Mundhra & Co. Chartered Accountant as theInternal Auditors of the Company to carry out the Internal Audit for the FY18-19 under theprovisions of section 138 of the Companies Act 2013.

Secretarial Auditors

M/s. Robin Jain & Associates Company Secretary was appointed as the SecretarialAuditor of the Company to carry out Secretarial Audit for the FY 2017-18 & 2018-19under the provisions of Section 204 of the Companies Act 2013. The Secretarial AuditReport is annexed to the Board's Report as Annexure C.

The Report is self-explanatory and hence do not call for any further explanation.

Personnel

The particulars and information of the employees as required under Section 197(12) ofthe Companies Act 2013 read with Rule 5 of the Companies (Appointment and Remuneration ofManagerial Personnel) Rules 2014 has been set out as Annexure - E to this ReportTh attached hereto. ere are no employees who are in receipt of remuneration in excess ofthe limit specified under Section 134(3) (q) read with Rule 5 (2) and 5 (3) of theCompanies (Appointment and Remuneration of Managerial Personnel) Amendment Rules 2016.

Company's Website e website of the Company www.smvdpolypack.com represents aperfect view of the Company's businesses its products for all its customers andinvestors. The site not only carries the information about the Company but also includesall the mandatory information and disclosures as per the requirements of the CompaniesAct 2013 and Companies Rules 2014 and as per SEBI (Listing Obligations & DisclosureRequirements) Regulations 2015 viz. Financial Results of your Company ShareholdingPattern Directors' & Corporate Profile details of Board Committees CorporatePolicies etc.

Listing of Securities in Stock Exchanges

Your Directors take immense pleasure to announce that your Company got listed fortrading in its equity shares on 26th December 2017 with The National Stock Exchange ofIndia Ltd. (NSE).

The Company is registered with both NSDL & CDSL for holding the shares indematerialized form and open for trading. The Company has paid all requisite Fees to theStock Exchange & Depositories.

Code of Conduct for Prevention of Insider Trading

In terms of the SEBI (Prohibition of Insider Trading) Regulations 2015 your Companyhas approved & adopted the Code of Conduct for prevention of Insider Trading & thecode of practices and procedure for fair disclosure of Un-published Price SensitiveInformation and the same is also placed on the Company's website: www.smvdpolypack.com.

Disclosures as per applicable acts SEBI (Listing obligations & DisclosureRequirements) Regulations 2015.

i) Related Party Transactions

All transactions entered with related parties during the FY17-18 were on arm's lengthbasis and were in the ordinary course of business and provisions of Section 188(1) are notattracted. There have been no materially significant related party transactions with theCompany's Promoters Directors and others as defined in section 2(76) of the CompaniesAct 2013 and Regulation 23 of SEBI (Listing Obligations & Disclosure Requirements)Regulations 2015 which may have potential conflict of interest with the Company at large.Accordingly disclosure in Form AOC 2 is not required.

The necessary disclosures regarding the transactions are given in the notes toaccounts. The Company has also formulated a policy on dealing with the Related PartyTransactions and the same has been uploaded on the website of the Company.

ii) Number of Board Meetings

The Board of Directors met 12 times during the year under review.

Name of Directors Category

No of Board Meetings

Whether attended last AGM held on 30th September 2017 No. of Directorship in other public limited Companies

No of Committee position held in other public limited companies

Held during the year Attended As Chairman/ Chairperson As Member
Mr. Pramod Kumar Agarwal Chairman & Mg. Director 12 12 Yes NIL NIL NIL
Mrs. Sangita Agarwal Non-Executive Director 12 12 Yes NIL NIL NIL
Mr. Pawan Kumar Agarwal Non-Executive Director 12 7 Yes NIL NIL NIL
Mr. Nikhil Pansari Independent Director 12 3 N.A. NIL NIL NIL
Ms. ShrutiSinghal Independent Director 12 3 N.A. NIL NIL NIL
Mr. Varun Roongta Independent Director 12 2 N.A. NIL NIL NIL

iii) Committees of Board

The board has constituted three committees the details of which are as follows:-

AUDIT COMMITTEE - The Audit Committee was entrusted with review of quarterly andannual financial statements before submission to the Board review of observations ofauditors and to ensure compliance of internal control systems authority for investigationand access for full information and external professional advice for discharge of thefunctions delegated to the Committee by the Board.

Sl. No. Name Designation Nature of Directorship
1 Mr. Nikhil Pansari Chairman Non-Executive Independent
2 Ms. ShrutiSinghal Member Non-Executive Independent
3 Mr. Pawan Kumar Agarwal Member Non-Executive Non- Independent

All the members of the Committee are financially literate.

The terms of reference of the Audit Committee are as follows :-

1) Oversight of the listed entity's financial reporting process and the disclosure ofits financial information to ensure that the financial statement is correct sufficientand credible;

2) recommendation for appointment remuneration and terms of appointment of auditors ofthe listed entity and review and monitor the auditor's independence performance andeffectiveness of audit process;

3) approval of payment to statutory auditors for any other services rendered by thestatutory auditors;

4) reviewing with the management the annual financial statements and auditor's reportthereon before submission to the board for approval with particular reference to :

a) matters required to be included in the director's responsibility statement to beincluded in the board's report in terms of clause (c) of sub-section (3) of Section 134 ofthe Companies Act 2013;

b) changes if any in accounting policies and practices and reasons for the same;

c) major accounting entries involving estimates based on the exercise of judgment bymanagement;

d) significant adjustments made in the financial statements arising out of auditfindings;

e) compliance with listing and other legal requirements relating to financialstatements;

f) disclosure of any related party transactions;

g) modified opinion(s) in the draft audit report;

5) reviewing with the management the quarterly financial statements before submissionto the board for approval;

6) reviewing with the management the statement of uses / application of funds raisedthrough an issue (public issue rights issue preferential issue etc.) the statement offunds utilized for purposes other than those stated in the offer document / prospectus /notice and the report submitted by the monitoring agency monitoring the utilisation ofproceeds of a public or rights issue and making appropriate recommendations to the boardto take up steps in this matter;

7) reviewing and monitoring the auditor's independence and performance andeffectiveness of audit process;

8) approval or any subsequent modification of transactions of the listed entity withrelated parties;

9) scrutiny of inter-corporate loans and investments;

10) valuation of undertakings or assets of the listed entity wherever it is necessary;

11) evaluation of internal financial controls and risk management systems;

12) reviewing with the management performance of statutory and internal auditorsadequacy of the internal control systems;

13) reviewing the adequacy of internal audit function if any including the structureof the internal audit department staffing and seniority of the official heading thedepartment reporting structure coverage and frequency of internal audit;

14) discussion with internal auditors of any significant findings and follow up thereon;

15) reviewing the findings of any internal investigations by the internal auditors intomatters where there is suspected fraud or irregularity or a failure of internal controlsystems of a material nature and reporting the matter to the board;

16) discussion with statutory auditors before the audit commences about the nature andscope of audit as well as post-audit discussion to ascertain any area of concern;

17) to look into the reasons for substantial defaults in the payment to the depositorsdebenture holders shareholders (in case of non-payment of declared dividends) andcreditors;

18) to review the functioning of the whistle blower mechanism;

19) approval of appointment of chief financial officer after assessing thequalifications experience and background etc. of the candidate;

20) Carrying out any other function as is mentioned in the terms of reference of theaudit committee.

The audit committee shall mandatorily review the following information :

1) management discussion and analysis of financial condition and results of operations;

2) statement of significant related party transactions (as defined by the auditcommittee) submitted by management; 3) management letters / letters of internal controlweaknesses issued by the statutory auditors; 4) internal audit reports relating tointernal control weaknesses; and

5) the appointment removal and terms of remuneration of the chief internal auditorshall be subject to review by the audit committee.

6) statement of deviations:

a) quarterly statement of deviation(s) including report of monitoring agency ifapplicable submitted to stock exchange(s) in terms of Regulation 32(1).

b) annual statement of funds utilized for purposes other than those stated in the offerdocument/prospectus/notice in terms of Regulation 32(7).

The Committee shall have the following powers:-

The Audit Committee shall be authorised to investigate any matter in relation to aboveterm of reference and shall have power to :

1. To seek information from any employee.

2. To obtain outside legal or other professional advice.

3. To secure attendance of outsiders with relevant expertise if it considersnecessary.

Meetings held and attended during the year – 2 Audit Committee meetings on09.2.2018 & 21.03.2018 respectively were held during the year under review.

Sl. No. Name Meetings held Meetings attended
1 Mr. Nikhil Pansari 2 2
2 Ms. ShrutiSinghal 2 2
3 Mr. Pawan Kumar Agarwal 2 2

NOMINATION & REMUNERATION COMMITTEE

Sl. No. Name Designation Nature of Directorship
1 Mr. Nikhil Pansari Chairman Non-Executive Independent
2 Ms. ShrutiSinghal Member Non-Executive Independent
3 Mr. Varun Roongta Member Non-Executive Independent

The terms of reference of the Nomination & Remuneration Committee are as follows:-

1) formulation of the criteria for determining qualifications positive attributes andindependence of a director and recommend to the board of directors a policy relating tothe remuneration of the directors key managerial personnel and other employees;

2) formulation of criteria for evaluation of performance of independent directors andthe board of directors;

3) devising a policy on diversity of board of directors;

4) identifying persons who are qualified to become directors and who may be appointedin senior management in accordance with the criteria laid down and recommend to the boardof directors their appointment and removal.

5) Whether to extend or continue the term of appointment of the independent directoron the basis of the report of performance evaluation of independent directors.

Meetings held and attended during the year – 1 meeting of NR committee was held on28.02.2018 during the year under review.

Sl. No. Name Meetings held Meetings attended
1 Mr. Nikhil Pansari 1 1
2 Ms. ShrutiSinghal 1 1
3 Mr. Varun Roongta 1 1

STAKEHOLDER RELATIONSHIP COMMITTEE - Stakeholders Relationship Committee looks intoredressing of shareholders' and investors grievances like transfer of Shares non receiptof Balance Sheet etc.

Sl. No. Name Designation Nature of Directorship
1 Mr. Pramod Kumar Agarwal Chairman Executive
2 Mr. Pawan Kumar Agarwal Member Non-Executive Non - Independent
3 Mr. Varun Roongta Member Non-Executive Independent

The terms of reference of the Stakeholders Relationship Committee are as follows:-

1) Review the mechanism adopted for redressing the grievance of shareholders debentureholders and deposit holders and other security and the status of such redressal;

2) Review of the activities of the Secretarial Department of the Company inter aliaadherence to Service Standards and Standard Operating Procedures relating to the variousservices rendered by the Investor Services Department various initiatives taken to interalia reduce quantum of unclaimed dividends status of claims received and processed forunclaimed shares uploading of data relating to unclaimed deposits/ dividends on thewebsite of Investor Education & Protection Fund and the Corporation.

3) Review status of compliances with laws applicable to the Secretarial Department andits risk profile;

4) Review the Action Taken Report in respect of recommendations made by the Committee/Management;

5) Review the status of the litigation(s) filed by/ against the security holders of theCompany;

6) Review the mechanism adopted to review monitor and report transactions relating tosecurities which may be suspicious from a money laundering perspective in accordance withthe KYC & AML Policy relating to securities of the Corporation; and

7) The Committee shall perform such other functions as may be required under therelevant provisions of the Companies Act 2013 the Rules made there under and ListingRegulations.

8) To oversee the performance of the Registrar and Transfer Agents and recommendmeasures for overall improvement in the quality of investors services.

Meetings held and attended during the year – 1 meeting of SR committee was held on09.02.2018 during the year under review.

Sl. No. Name Meetings held Meetings attended
1 Mr. Pramod Kumar Agarwal 1 1
2 Mr. Pawan Kumar Agarwal 1 1
3 Mr. Varun Roongta 1 1

Note : The Company Secretary acts as the Secretary to all the Committees.

iv) Extracts of Annual Return

Th e Extracts of Annual Return in Form MGT 9 under the provisions of Section 92(3) ofthe Companies Act 2013 is attached as

Annexure – F.

v) Risk Analysis

The Company has in place a mechanism to inform the Board members about the Riskassessment and mitigation plans and periodical reviews to ensure that the critical risksare controlled by the executive management.

vi) Internal Financial Control

Th e Company has in place adequate internal financial control as required under section134(5)(e) of the Act. During the year such controls were tested with reference tofinancial statements and no reportable material weakness in the formulation or operationswere observed.

vii) Loans Guarantees and Investments

There are no loans guarantees or investments made by the Company covered under theprovision of Section 186 of the Companies Act 2013.

viii) Subsidiaries Associates or Joint Ventures

Your Company does not have any subsidiaries joint ventures but it has 1 (one)associate M/s. Aashakiran Commodeal Pvt. Ltd. during the year under review. As per theprovision ofSection 129(3) and rule 5 of the Companies (Accounts) Rules 2014 thestatement in AOC-1containing the salient features of the financial statement of theassociate Company is given in Annexure –B and Consolidated

Financial Statements along with Auditors Report thereon forms part of this AnnualReport.

ix) Evaluation of Board's Performance

During the year under review the Board in compliance with the Companies Act 2013 andapplicable Regulations of Securities & Exchange Board of India (Listing Obligationsand Disclosure Requirements) Regulations 2015 has adopted formal mechanism forevaluating its performance and as well as that of its Committees and individual Directorsincluding the Chairman of the Board.

Th e process of review of Non-Independent Directors and the Board as a whole and itscommittees were undertaken in a separate meeting of Independent Directors without theattendance of Non-Independent Directors and members of the management. At the meeting theperformance of the Chairman was reviewed along with the other non-executive Directors. The meeting also assessed the quality quantity and timeliness of the flow of informationrequired for the Board to perform its duties properly.

e Board of Directors separately evaluated the performance of each of the IndependentDirectors. Th e concerned Independent Director did not participate in the meeting at thetime of his/her evaluation.

Th e Directors have expressed their satisfaction with the evaluation process.

Based on the findings from the evaluation process the Board will continue to reviewits procedures and effectiveness in the financial year ahead with a view to practising thehighest standards of corporate governance.

x) Nomination Remuneration & Evaluation Policy.

The Company has laid down a Policy on Nomination Remuneration & Evaluation beingrecommended by the NR Committee of the Company in compliance with the requisite provisionsof the Companies Act 2013 & SEBI (LODR Regulations 2015. Th e policy envisages asfollows: -

i) Criteria for appointment and removal of Directors Key Managerial Personnel (KMP)and Senior Management Executives of the Company.

ii) Remuneration payable to the Directors KMPs and Senior Management Executives.

iii) Evaluation of the performance of the Directors.

iv) Criteria for determining qualifications positive attributes and independence of aDirector.

xi) Vigil Mechanism (Whistle Blower Policy)

Pursuant to the provisions of Section 177(9) & (10) of the Companies Act 2013 readwith regulation 22 of the SEBI (LODR) Regulation 2015 a Vigil Mechanism for directorsand employees to report genuine concerns has been established. Th e Vigil Mechanism Policyis available on the website of the Company.

Management Discussion and Analysis Report

In compliance with Regulation 34(3) of Listing Regulations a separate section onManagement Discussion and Analysis which includes details on the state of affairs of theCompany is annexed as Annexure-D.

Conservation of Energy & Technology Absorption

Information pursuant to Section 134 (3)(m) of the Companies Act 2013 read with Rule 8of the Companies (Accounts) Rules 2014 are given is annexed as Annexure-A whichforms part of this report.

Foreign Exchange Earning & Outflow
Foreign Exchange Earning: Nil
Foreign Exchange Outgo: Nil

Industrial Relations

The industrial relation during the FY 2017-18 had been cordial. Th e Directors took onrecord the dedicated services and significant efforts made by the Officers Staff andWorkers towards the progress of the Company.

Significant & material orders passed by the Regulators or Courts or Tribunalsimpacting the going concern status & Company's Operations in Future

Th ere have been no significant & material orders passed by regulators / courts /tribunals impacting going concern status and Company's operations in future.

Acknowledgement

Your Directors would like to express their grateful appreciation for the assistance andco-operation received from the Financial Institutions Banks Government Authorities andShareholders during the year under review. Your Directors wish to place on record theirdeep sense of appreciation to all the employees for their commendable teamwork exemplaryprofessionalism and enthusiastic contribution during the year.

Registered Office : On behalf of the Board of Directors
71 B.R.B. Basu Road For SMVD Polypack Limited
Block A 5th Floor R.N. - 513 Sd/- Sd/-
Kolkata -700 001. Pramod Kumar Agarwal Sangita Agarwal
Chairman & MD Director
Date: 30th June 2018 DIN : 00324999 DIN : 02860390