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STL Global Ltd.

BSE: 532730 Sector: Industrials
NSE: SGL ISIN Code: INE353H01010
BSE 00:00 | 03 Feb 15.00 -0.85






NSE 00:00 | 03 Feb 15.40 -0.55






OPEN 15.45
52-Week high 37.80
52-Week low 14.65
P/E 13.89
Mkt Cap.(Rs cr) 41
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 15.45
CLOSE 15.85
52-Week high 37.80
52-Week low 14.65
P/E 13.89
Mkt Cap.(Rs cr) 41
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

STL Global Ltd. (SGL) - Director Report

Company director report

To The Members

Your board of directors has pleasure in presenting the 25th Annual Reporttogether with the Audited Statement of Accounts of the Company for the financial yearended 31st March 2022.

The Financial Results of your company for the year ended on 31st March 2022are as follows: (Rs. in Crores)

Year Ended March 31st 2022 2021
Sales and Other Income 121.34 72.61
Expenditure 118.34 71.01
Depreciation & Amortization 1.24 1.36
Profit/(Loss) before Exceptional & Extra Ordinary 3.00 1.59
Exceptional Items Income/(Expenses) 0.00 35.81
Extraordinary Items 0.00 0.00
Profit/(Loss) before Tax 3.00 37.40
Tax Paid for Earlier Year 0.19 0.00
Provision for Deferred Tax (0.69) 0.00
Other Comprehensive Income/(Loss) 0.00 0.07
Profit/(Loss) After Tax 3.50 37.47

Performance of your Company

The years 2020 and 2021 were a challenging time for the Indian textile industry.Production schedules slipped and products mix went for a toss. Unfazed by all thesetbacks overall the industry weathered the storm and a cross-section of the industry.The Home Textile industry is facing significant headwinds given the rise in input costlogistical challenges inflationary pressures and a volatile global environment which isputting untoward pressure on margin and demand. What is even more worrying is that Chinaand Pakistan are chipping away at the market share of Indian cotton imports in the USsays a recent study.

The war in Ukraine has triggered a costly humanitarian crisis that demands a peacefulresolution. At the same time economic damage from the conflict will contribute to asignificant slowdown in global growth in 2022 and add to inflation. Fuel and food priceshave increased rapidly hitting vulnerable populations in low-income countries hardest.Global growth is projected to slow from an estimated 6.1 percent in 2021 to 3.6 percent in2022 and 2023. This is 0.8 and 0.2 percentage points lower for 2022 and 2023 thanprojected in January. Beyond 2023 global growth is forecast to decline to about 3.3percent over the medium term. War-induced commodity price increases and broadening pricepressures have led to 2022 inflation projections of 5.7 percent in advanced economies and8.7 percent in emerging market and developing economies 1.8 and 2.8 percentage pointshigher than projected last January. Multilateral efforts to respond to the humanitariancrisis prevent further economic fragmentation maintain global liquidity manage debtdistress tackle climate change and end the pandemic are essential.

On the other hand continuous Efforts of the Management of your company even facingCOVID-19 pandemic situation resulted to increase to some extent the textile segment of thecompany. Further company has settled or in process of settlement of secured/unsecuredLoans of Banks. The Management of your is still positive in this expected economic slowdown and foresees and ready to grab a good opportunity in increasing dollar price.


Results of the Company for the last financial year are as follows; Total revenue forthe year ended 31st March 2022 has been increased to Rs. 120.41 Crores ascompared to previous year's Rs. 72.33 Crores. Hence there was an increase of approx. upto65%. The operating profit before tax and exceptional items is Rs. 3.00 Crores. The netprofit for the year after current year tax and deffered tax is Rs. 3.50 crores as compareto net profit of Rs. 1.66 crores in the previous financial year before exceptional itemswhich is mainly due to reversal of provision of interest.


The Board of Directors of the Company does not recommend any dividend for the financialyear ended 31st March 2022.

Unclaimed Dividends:

Company has not paid any dividend in last considerable years so the applicability ofdifferent rules act and regulation is not applicable.

Management Discussion and Analysis Report

Management Discussion and Analysis Report for the year under review as stipulatedunder Regulation 34 and Schedule V of the SEBI (LODR) Regulations 2015 as amended fromtime to time is presented in a separate section forming part of the Annual Report.(Annexure-I)

Indian Accounting Standard (Ind AS)

Company has adopted Indian Accounting Standards (IND AS) prescribed under section 133of the Companies Act 2013 read with the relevant rules issued thereunder as amended fromtime to time and accordingly Financial Results of 2020-21 have been prepared inaccordance with the recognition and measurement principals laid down in Ind AS 34"Interim Financial Reporting" and the other accounting principles generallyaccepted in India. The Impact of transition has been accounted for in the opening reservesand the comparative figures have been reinstated accordingly.

Segment Reporting

Company has income from single segments i.e.; Textile segment during the year and theFinancial Statements has been prepared in accordance with the recognition and measurementprinciples laid down in Ind AS 34 “Interim Financial Reporting” and otheraccounting principles generally accepted in India.

Fixed Deposit

No Fixed Deposits was held by the company as on 31st March 2022.

Listing and ISIN

Equity Shares of the Company are listed at BSE Limited (BSE) Mumbai and National StockExchange of India Limited (NSE) Mumbai. The Annual Listing Fees for the Financial Year2022-23 has already been paid by the Company to both the stock exchanges.

The Company's shares are compulsorily traded in De-Materialized form.

The ISIN for fully paid-up equity shares is INE353H01010.

Share Capital

There was no change in the Authorized Share Capital of the Company during lastfinancial year and it remains unchanged at Rs.420000000/- (Forty-Two Crores only)divided into 42000000 (Four Crores Twenty Lakhs) Equity Shares of Rs. 10/- (Rupees Ten)each. The paid-up share capital of the Company as on 31st March 2022 was alsoremains unchanged at Rs. 272217975/- consisting of 26990915 fully paid-up Equity sharesof Rs.10/- each and 461765 partly paid up Equity Shares of Rs. 5/- each.

Address of Corporate Office

At present the Corporate Office of the company is situated at Plot No.207-208Sector-58 Faridabad-121004 HR (India). All the Shareholders of the Company are requestedto please take a note of the same.

Material Changes and Commitment

There were no material changes and commitments affecting the financial position of theCompany occurred during the Financial Year ended as on 31st March 2022 to which thisfinancial statement relates on the date of this report.

Directors & Key Managerial Personnel

At present the total strength of the Board of directors is six directors. Out of whichtwo are Executive Directors one is Non-Executive Non-Independent Director and three areNon-Executive Independent Directors.

Retirement by Rotation

In the company there are three rotational directors at present. In accordance with theprovisions of Section 149(13) of the Companies Act 2013 which states that the provisionof sub-sections (6) and (7) of section 152 in respect of retirement of Directors byrotation shall not apply to the appointment of Independent Directors. Hence two directorsshall be liable to retire by rotation in the forthcoming 25th AGM out of whichone director shall be retire in the ensuing 25th AGM. So Mr. Vinod KumarAggarwal (DIN: 00170712) Managing Director of the Company shall retire by rotation at theforthcoming 25th Annual General Meeting (AGM) and being eligible he hasoffered himself for reappointment. A brief resume of director containing their agequalifications and experience is already given in the annexure to the notice conveningensuing 25th Annual General Meeting.

The resolution contained at Item No. 2 of the notice is being proposed for hisre-appointment as director at the ensuing Annual General Meeting of the Company. The boardrecommends his reappointment.

Declaration by Independent Directors

Your Company abided by definition of Independence as per Regulation 17 of SEBI (ListingObligations & Disclosure Requirements) Regulations 2015 and according to theProvision of Section 149 (6) of the Companies Act 2013 as amended from time to time. Thecompany has also obtained declarations from all the Independent Directors pursuant tosection 149 (7) of the Companies Act 2013.

Company's Policy relating to Director's appointment payment of remuneration anddischarge of their duties

Your Company has adopted a Nomination and Remuneration Policy on Directors Appointmentand Remuneration including criteria for determining qualifications positive attributesindependence of a director and other matters as provided under Section 178(3) of theCompanies Act 2013 and Regulation 19 of SEBI (Listing Obligations and DisclosureRequirements) Regulation 2015 as amended from time to time. The Nomination andRemuneration Policy is available on the website of the company at

Loans Investment and Guarantees by the Company

Disclosures on particulars relating to Loans guarantees or investments under Section186 of the Companies Act 2013 if any is provided as annexures of financial statements.

Secretarial Audit

Pursuant to the provisions of Section 204(1) of the Companies Act 2013 and Rule 9 ofthe Companies (Appointment and Remuneration Personnel) Rules 2014 and other applicableprovisions if any of the Companies Act 2013 as amended from time to time the Companyhas appointed M/s Vijay Mourya & Associates a Company Secretary Firm to undertake theSecretarial Audit of the

Company for the Financial Year 2021-22. The Secretarial Audit Report (Form MR-3) forthe Financial Year 2021-22 is annexed herewith as part of Director's Report as(Annexure-II).

Director's Responsibility Statement

To the best of knowledge and belief and according to the information and explanationsobtained by them your Directors make the following statement in terms of Section 134(3)(c) of the Companies Act 2013 as amended from time to time:

1. That in the preparation of the annual accounts the applicable accountingstandards have been followed along with proper explanations relating to materialdepartures.

2. 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 as on 31stMarch 2022 and of the profit or loss of the company for the year ended on that date.

3. That the directors have taken proper and sufficient care for the maintenanceof adequate accounting records in accordance with the provisions of Companies Act 2013for safeguarding the assets of the company and for preventing and detecting frauds andother irregularities.

4. That the directors have prepared the annual accounts on a Going ConcernBasis.

5. That the directors have laid down internal financial controls are adequateand were operating effectively.

6. That the directors have devised proper system to ensure compliances with theprovisions of all applicable laws and that such systems were adequate and operatingeffectively.

Internal Control Systems and their Adequacy

STL Global Limited has adequate systems of internal control covering all financial andoperational activities. The internal control is designed to provide reasonable assurancewith regard to maintaining proper accounting controls protecting assets from unauthorizedlosses and ensuring reliability of financial and operational information and propercompliance with regulations. The internal control system of the c ompany is monitored andevaluated by the internal auditor and the senior management of the company. In the opinionof the Board an internal control system adequate to the size of the Company is in place.

Subsidiary Companies

The Company does not have any subsidiary company at present.

Auditors and Auditor's Report

The tenure of present Statutory Auditors M/s Vishnu Aggarwal Associates CharteredAccountants (FRN: 007231C) will come to an end at the conclusion of ensuing 25thAGM. Considering that the present Auditors have completed his tenure of five years allowedunder the Companies Act 2013 the Company is required to appoint a new statutory auditorin his place. Based on recommendation of Audit Committee the Board of Directors at theirmeeting held on 10th August 2022 have recommended the appointment of M/s M. M.Goyal & Co. Chartered Accountants (FRN: 007198N) to hold office from the conclusionof this 25th Annual General Meeting until the conclusion of the 30thAnnual General Meeting of the Company. The company had received a confirmation from thestatutory auditors that their appointment if made will be within the limits prescribedunder the provisions of Section 139 of the Companies Act 2013 and rules made thereunderas amended from time to time.

Notes to the accounts referred to in the auditor's report are self-explanatory andtherefore do not call for any further comments.

Cost Audit

As per the requirement of Central Government and pursuant to Section 148 of theCompanies act 2013 read with the Companies (Cost Records and Audit) Rules 2014 asamended from time to time company is not required to carry out audit of cost records.

Internal Audit:

The Board of Directors of the Company has appointed Mr. Naveen Kumar CharteredAccountant (Membership No. 505899) proprietor of M/s Naveen Brahmanand & Co.Chartered Accountants (FRN: 023923N) as an Internal Auditor of the Company for the F.Y.2021-22 who has conducted the audit and submits their report on time to time before theAudit Committee and Board including action taken reports on the findings anddiscrepancies if any.

Board Evaluation:

During the year Board of the Directors of the Company has made performance evaluationof the Promoter Directors and Independent Directors of the Company. Evaluation was made onthe basis of following assessment criteria:

i) Attendance in Board meeting active participation in the meeting and giving inputson time in the minutes. ii) Stick to ethical standards and code of conduct of the Companyand timely submission of disclosure of interest. iii) Interpersonal relationship withother directors and management. iv) Active contribution for the benefit of the Company v)Compliances with policies. Immediately reporting fraud violation statutory matters etc.

The overall performance of the Board and Committees of the Board was foundsatisfactory.


STL Global Limited sincerely believes that growth needs to be sustainable in a sociallyrelevant manner. Today's business environment especially in India demands that Corporatesplay a pivotal role in shouldering social responsibility. Companies Act 2013 hasintroduced Corporate Social Responsibility (CSR) provisions.

As per Section 135(1) of the Companies Act 2013 and other applicable provision rulesand schedules of Companies Act 2013 as amended from time to time provides that everycompany having net worth of Rs. 500 Crore or more or turnover of Rs. 1000 Crore or moreor a net profit of Rs. 5 Crore or more during any financial year shall constitute aCorporate Social Responsibility (“CSR”) Committee.

The net profit/loss of the Company computed as per Section 198 of the Companies Act2013 for the applicability of CSR during the three immediately preceding financial yearswere below the threshold limit applicable for CSR i.e. Rs. 5 crores in each financialyear. Hence provision of CSR as per section 135(1) of the Companies Act 2013 and rulesprovided thereunder as amended from time to time not applicable to company.

Further we hereby inform you that Profit reflects in financial statements mainly due toreversal of Provision of interest created in earlier years. Further company also hadBank's restructured liability. Company will do the CSR activities once it falls under thepurview of CSR.

Although Company has formed Corporate Social Responsibility (CSR) Committee whichcomprises Mr. Vinod Kumar Aggarwal Mr. Sanjiv Kumar Agarwal and Ms. Anjana MehraDirectors of the Company during the financial year 2021-22

Particulars regarding Conservation of Energy Technology Absorption and ForeignExchange Earnings and Expenditure

Information on Conservation of energy as required to be disclosed under section 134(3)(m) of the Companies Act 2013 read with Rules 8 of Company (Accounts) Rules 2014 isprovided as under:

A. Conservation of Energy

During last financial year also the Company has made continuous efforts in order toensure optimum utilization of fuel and electricity. a. Energy conservation measures taken:Your Company has been continuously making its best efforts for energy conservation likeEnergy saving tubes and other ‘less electricity consuming' electronic devices areinstalled in the Plant in a phased manner for this purpose. The Department wise monitoringof energy consumption is regularly conducted in order to save power cost and for optimumutilization of available resources.

b. The relevant data in respect of energy consumption is given below:


(a) Power and Fuel Consumption
Current Year (2021-22) Previous Year (2020-21)
Electricity Purchased Units (Nos) 6351530 3733973
Total Cost (Rs.) 49681187 29902935
Rate per Unit (Rs.) 7.82 8.01
(b) Own Generation- (Through D.G.


Generated Units (Nos) 386780 184165
Diesel Cost (Rs.) 11440456 4014225
Diesel Cost Per Unit (Rs.) 29.58 21.80

B. Technology Absorption Research & Development

Your Company is working with best available technology in all of its productionactivities viz. knitting dyeing etc. The Company has a full time specialized anddedicated independent Research & Development department for its production divisionswhich regularly provide suggestions for reducing the cost of production and improvingquality of products. The present technology is also being updated from time to time as andwhen required and the company is also taking full advantage of implementation ofinformation technology through the plant-wide network for quicker decision making andfaster preventive actions.

C. Foreign Exchange Earnings and Outgo

Particulars regarding foreign exchange earnings and expenditure if any are annexedhereto as (Annexure III) and forms part of this Director's Report.

Cautionary Statement

STL Global Limited Director's Report contains some forward-looking statements which maybe identified by use of words like expect anticipate believes intends projects plansor other words of similar meaning. These forward-looking s tatements are based on certainassumptions and expectations of future events. The company cannot guarantee that theseassumptions and expectations are accurate or will be realized. Company assumes noresponsibility to publicly amend modify or revise any of the forward-looking statement onthe basis of any subsequent developments information or events.

Management is also of the opinion that quarter to quarter performance comparison wouldnot be an ideal way of reviewing the Company's performance in view of the changingtransaction dynamics which might result into some of the key assignments getting stretchedand the incidence of the revenues may either pass over to next quarter or pushed on to alonger time scale than anticipated.

Extract of Annual Return

Pursuant to Section 92(3) read with Section 134(3)(a) of the Companies Act 2013 asamended from time to time the extract of the Annual Return in Form MGT-7 for the financialyear 2021-22 can be accessed on the website of the company at

Particulars of Contracts or Arrangements with Related Parties referred to in section188(1) of the Companies Act 2013.

All related party transactions that were entered and executed during the year underreview were at arms' length basis. As per the provisions of Section 188 of the CompaniesAct 2013 and Rules made thereunder read with Regulation 23 of SEBI (Listing Obligations& Disclosure Requirements) Regulations 2015 as amended from time to time Company hadobtained prior approval of the Audit Committee under omnibus approval route and / or underspecific agenda before entering into such transactions.

The policy on materiality of Related Party Transactions as approved by the Board ofDirectors is uploaded on the website of the Company i.e. In compliancewith Section 134(3) of the Companies Act 2013 particulars of contracts or arrangementswith related parties referred to in Section 188(1) of the Companies Act 2013 areenclosed in the Form AOC-2 as a part of this report (Annexure-IV)

Corporate Governance

Your Company believes that Corporate Governance balances the interest of allstakeholders of a company and satisfies the tests of accountability transparency and fairplay. Corporate Governance is the combination of voluntary practices disclosures andcompliance with laws as may be applicable to the company leading to effective control andmanagement of a Company.

Your Company philosophy on Corporate Governance is to operate for the benefit of allits stakeholders including shareholders customers lenders creditors employeesgovernment authorities and the community and to conduct its business in a transparentethical and fair manner. Your Board of Directors considers itself the trustee of Company'sshareholders and always aims at maximizing the shareholders' value and protecting theinterest of all other stakeholders.

The report on Corporate Governance is annexed and forms part of this Directors' Report(Annexure V).

STL Global Limited has been strictly complying with the requirements of CorporateGovernance as stipulated under Regulation 27 and Schedule II of SEBI (Listing Obligations& Disclosure Requirements) Regulations 2015 as amended from time to time. The copy ofcertificate obtained from Statutory Auditor's of the Company dated 28.05.2022 confirmingthe compliance of the conditions of Corporate Governance by the Company is also attachedwith this report.

Number of Board Meeting

During the financial year 2021-22 five meetings of the Board of Directors were heldthe details of which are given in the Corporate Governance report annexed herewith andforms part of this Director's Report.

Formation of various Committees

Details regarding various committees constituted by the Board of directors are given inthe Corporate Governance Report annexed herewith and forms part of this Director's Report.

Sexual Harassment at Workplace (Prevention Prohibition and Redressal) Act 2013

STL Global Limited and its Management has always believed in providing a safe andharassment free workplace for every employee/individual working in the company throughvarious interventions and practices. The company always endeavors to create and provide anenvironment that is free from discrimination and harassment including sexual harassment.Proper awareness programs whenever required were carried out against sexual harassment.During the financial year 2021-22 in the Company no complaints pertaining to sexualharassment was received.



Your Company believes that safety is an integral part in the efficient businessmanagement; hence it has benchmarked its processes to the highest standards of safety.Adequate Controls are made at workstation to safeguard the interest of employees. Promptand regular efforts with respect to safety training and education are your company'scommitment to the safety. The employees working on the production floor are required toundergo a mandatory training in their respective department. Also various other effortsare being taken continuously for improving safety at the plant and these efforts includecontinuous safety trainings with internal & external faculties on-the-job trainingfor technicians and safety awareness among employees etc.


Company has built sufficient infrastructure in order to provide necessary medical careto the employees working at all levels. The medical checkups are also done beforerecruitment of any new person. A first-aid box is always available in all the departmentsand normal medical checkups are regularly conducted. The employees are also imparted withhealth education from time to time. The company is committed to safe and healthy life ofits employees.


Company and its management are fully committed to provide a safe and healthy workingenvironment inside the Company as well outside. The Company regularly complies with allrules & regulations regarding protection of the environment of its outside surroundingarea. Your Company is also committed to prevent wasteful use of natural resources and tominimize the dangerous impacts of any of its activities e.g. production development use& disposal of products and other services on the environment. The Company alwaysensures that highest standards of environmental management are being maintained. Thecompany regularly participates in plantation activity in the vicinity.


The Company had a SHE Committee (Safety Health & Environment Committee) thatcomprises of members from the senior management HR Department of Company. The SHECommittee is mainly responsible for ensuring safe and healthy environment within theCompany and its neighboring area and also for complying with all applicable regulatoryrequirements in this regard.

Company is also fully committed to make its contribution in the Social and EconomicDevelopment of the community located in vicinity of its operations and to provideassistance for improving the quality of their life and optimum utilization of resources.

Particulars of Employees

A. The information required under section 197(12) of the Companies act 2013 read withrule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules2014 are given below:

1. Ratio of the remuneration of each director to the median remuneration of theemployees of the company for the financial year ended 31st March 2022:

S. No. Name of Director Designation Remuneration Ratio
(Per Month)
1. Mr. Vinod Kumar Aggarwal Managing Director 100000/- 4.76
2. Mr. Sanjiv Kumar Agarwal Whole Time Director 75000/- 3.57
3. Mr. Sanjay Aggarwal* Non-Executive N.A. N.A.
Independent Director
4. Mr. Satya Narain Aggarwal* Non-Executive N.A. N.A.
Independent Director
5. Ms. Anjana Mehra* Non-Executive N.A. N.A.
Woman Independent
6. Mr. Manav Rastogi* Non-Executive Non- N.A. N.A.
Independent Director

*All the Non-Executive Non-Independent and Independent Directors of the Company werenot paid any remuneration and were paid only sitting fee for attending the meetings of theBoard/Committee of Directors. Therefore the said ratio of remuneration of each directorto median remuneration of the employees of the company is not applicable.

The Median remuneration of the employees for the Financial Year ending on 31stMarch 2022 is Rs. 2.52 Lakhs per year and 21000/- per month.

2. The percentage increase in remuneration of each director Chief FinancialOfficer Chief Executive Officer Company Secretary or Manager if any in the financialyear: During the financial year 2021-22 there was no increase in the remuneration ofdirectors Chief

Financial Officer Chief Executive Officer. During the F.Y. 2021-22 there was increasein the remuneration of Company Secretary and Managers upto 10% to 12%.

3. The percentage increase in the median remuneration of employees in thefinancial year 2021-22: 16.00%

4. The number of permanent employees on the rolls of the Company: 198 Employees

5. Average percentile increases already made in the salaries of employees otherthan the managerial personnel in the last financial year and its comparison with thepercentile increase in the managerial remuneration and justification thereof and point outif there are any exceptional circumstances for increase in the managerial remuneration:During the last financial year there was increase in the remuneration/salary of theemployees and managerial remuneration upto 10% to 12%.

6. The key parameters for any variable component of remuneration availed by thedirectors:

The Executive Directors have not availed any variable component of remuneration.

7. Affirmation that the remuneration is as per the remuneration policy of thecompany: It is affirmed that the remuneration paid is as per the remuneration policy ofthe company.

B. Top Ten Employees (including Directors) information as per Rule 5(2) of ChapterXIII the Companies (Appointment and Remuneration of Managerial Personnel) rules 2014 interms of salary as on 31st March 2022 are given below:

S. No. Name of Employees Designation Salary per month (In
1 Mr. Vinod Kumar Aggarwal Managing Director 100000
2 Mr. Shivanand Singh Plant Manager 100000
3 Mr. Sanjay Kumar Gupta General Manager of 85000
4 Mr. Pawan Shukla General Manager of 85000
5 Mr. Sanjiv Kumar Aggarwal Whole Time Director 75000
6 Mr. Anil Jodhani Chief Financial Officer 75000
7 Mr. Praveen Mishra Manager Dying 63000
8 Mr. Sanjay Sharma Asst. Manager Dying 62000
9 Mr. Gajender Singh Chauhan Personal & Admin Manager 60000
10 Mr. Ajay Kumar Singh Finishing Incharge 55000

C. The information required under section 197(12) of the Companies act 2013 read withrule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules2014 are given below:

None of the employee has received remuneration exceeding the limit Rs. 1.20 Crore perannum when employed for full year and Rs. 10 lakhs per month when employed for a part ofthe year as stated in section 197(12) of the Companies act 2013 read with rule 5(2) ofthe Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014 asamended from time to time.

Other Matters

The Company has neither made any application nor any proceedings is pending against theCompany under the Insolvency and Bankruptcy Code 2016 as amended from time to time.

The clause (xii) of Rule 8 of sub-rule 5 of Companies (Accounts) Rules 2014 andincluding amendments made to this rule till date is not applicable on the Company.


STL Global Limited Board of Directors and Management once again sincerely acknowledgethe devotion of all the employees of the company who have contributed in the performance& development of the company. Company treats its employee like its asset. TheCompany's relations with employees are always cordial the employees are regularlyprovided with internal & external trainings and more responsibility is being entrustedto them thereby involving them in day-to-day decision making. The true spirit of trustcommitment dignity transparency and opportunity to explore & achieve their dreamsgives the employees an encouragement and yearning to perform better.

Acknowledgement & Appreciation

In today's world no company can grow without the support of their employees. Thecompany's growth is achieved with the continuous support of all the stakeholders. Yourdirectors once again take this opportunity to first of all thank all the employees of theCompany for their hard work dedication cooperation and support rendered towards theCompany.

STL Global Limited board of directors also wants to express its gratitude towards theCompany's Bankers Financial Institutions Central and State Government Authorities &Officials Customers Vendors Traders Solicitors Advisors and to our well wishers fortheir support and co-operation during the period under review. And also to you our dearshareholders we are extremely grateful for your continuous support and confidence.

For and on behalf of the Board of Directors

Sd/- Sd/-
Vinod Kumar Aggarwal Sanjiv Kumar Aggarwal Date: 10th August 2022
(Chairman & Managing Director) (Whole Time Director) Place: Faridabad
(DIN: 00170712) (DIN: 00227251)