Your Directors are pleased to present the 30th Annual Report together with the auditedaccounts of the company for the year ended on 31st March 2017. The summarized financialresults for the year ended 31st March 2017 are as under:
|Particulars ||Financial Year 2016-17 ||Financial Year 2015-16 |
|Profit / (Loss) before Depreciation ||38644679 ||19876074 |
|Less: Depreciation ||6099373 ||5130503 |
|Profit / (Loss) before Taxation ||32545306 ||14745571 |
|Less: Deferred Tax ||(144300) ||264015 |
|Less: Current Tax ||(3624319) ||(2986359) |
|Net Profit / (Loss) after Depreciation & Tax ||28776687 ||12023227 |
|General Reserve ||20000000 ||7355334 |
During the year under report the company continued to reach the new heights in salesand profit as well. Sales of the company have increased to Rs. 749821083/- (PreviousYear Rs. 721722910/-) which shows encouraging growth in total revenue and speaks aboutthe efficient working of the company.
Total Income from Operations increased by Rs. 28098173/- from Rs. 721722910/- toRs. 749821083/- in FY 2016-17 increased by 3.89%.
Earnings before Depreciation Interest and Taxes (EBDIT) has increased by Rs.19215784/- from Rs. 30592840/- to Rs. 49808624/- in FY 2016-17 increased by62.81%.
Profit before Tax (PBT) increase by Rs. 17799735/- from Rs. 14745571/- to Rs.32545306/- in FY 2016-17 increased by 120.71%. Profit after Tax (PAT) increase by Rs.16753460/- from Rs. 12023227/- to Rs. 28776687/- in FY 2016-17 increased by139.34%.
Members are aware that changes were introduced by your Directors in marketing strategya few years back and since then performance of the Company is improving which haveresulted in strengthening the financial position of the Company. The encouraging resultsare before you. Your Company has done very well even during the depression in the countryand overseas market.
Considering the performance and to appropriately reward the Members while conservingresources to meet future financial requirements the Board of Directors recommends adividend of Rs. 0.70/- per equity share of Rs. 10 each (7%). This dividend is subject tothe approval of Members at the forthcoming Annual General Meeting and if approved Memberswhose names appear on the Register of Members on 18th September 2017 will be entitled todividend. In the previous year the Company paid a dividend of Rs. 0.60/- per equity shareof Rs. 10 each (6%)
In respect of shares held in the dematerialized form the dividend will be paid to themembers whose names are furnished by NSDL and CDSL as beneficiary owners.
TRANSFER TO RESERVES
The company has transferred Rs. 20000000/- from Profit & Loss Account to GeneralReserve.
CHANGE IN THE NATURE OF BUSINESS
There has been no change in the nature of the business during the financial year2016-17.
The Company has not accepted any Deposits within the meaning of section 73 and 74 ofthe Act read with the Companies (Acceptance of Deposits) Rules 2014 during the year underreview hence it is not required to comply with the requirement under the Companies(Accounts) Rules 2014.
CHANGE IN SHARE CAPITAL
During the year 2016-17 Company has increased Authorised Share Capital from Rs.80000000/- to Rs. 100000000/-. Company has raised additional funds by issue of1085000 Equity Shares of Rs. 10/- each on Preferential basis to the non - promoter groupat a premium of Rs. 60/- per share.
The Company has also issued 300000 Convertible Warrants on Preferential basis to thePromoter at Rs. 70/- per warrant convertible into 300000 Equity Share of Rs. 10/- eachat a premium of Rs. 60/- per share. Against the Warrants Convertible into Equity Sharesthree instalment of Rs. 5250000/- each have been received till 31st March 2017. Onreceipt of 4th Instalment the holder of Convertible Warrants will be eligible to exercisehis right to convert his warrants into Equity Shares of the Company.
DISCLOSURE REGARDING ISSUE OF EQUITY SHARES WITH DIFFERENT RIGHTS
The company has not issued any equity shares with differential voting rights during theFinancial year and it is therefore not required to make disclosures specified in Rule 4(4) of Companies (Share Capital and Debenture) Rules 2014.
DISCLOSURE REGARDING ISSUE OF SWEAT EQUITY SHARES
The company has not issued any Sweat Equity Shares during the financial year and it istherefore not required to make disclosures specified in Rule 8 (13) of Companies (ShareCapital and Debenture) Rules 2014.
DISCLOSURE REGARDING ISSUE OF EMPLOYEE STOCK OPTION
The company has not issued any shares under Employee Stock Option Scheme during thefinancial year and it is therefore not required to make disclosures specified in Rule 12(9) of Companies (Share Capital and Debenture) Rules 2014.
EXTRACT OF ANNUAL RETURN
The Extract of Annual return in form no MGT - 9 pursuant to section 92(3) of theCompanies Act 2013 and rule 12(1) of the Companies (Management and Administration) Rules2014 as on the financial year ended on March 31 2017 is annexed herewith as Annexure - Ito this report.
NUMBER OF MEETINGS OF THE BOARD OF DIRECTORS AND AUDIT COMMITTEE
A calendar of Meetings was prepared and circulated in advance to the Directors.
During the year under review Seven Board Meetings were held on 30th May 2016 21stJuly 2016 01st September 2016 08th October 2016 28th October 2016 20th January2017 and 15th March 2017 respectively and one Independent Directors' meeting was held on20th January 2017 and Five Audit Committee Meetings were convened on 30th May 2016 21stJuly 2016 28th October 2016 20th January 2017 15th March 2017 respectively. Theintervening gap between the Meetings was within the period prescribed under the CompaniesAct 2013.
PARTICULARS OF LOAN GUARANTEES AND INVESTMENT
Particulars of loans given investments made guarantees given and securities providedalong with the purpose for which the loan or guarantee or security is proposed to beutilized by the recipient are provided in the financial statement (Please refer to Note tothe financial statement).
PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES
Pursuant to provision of Section 188 of the Companies Act 2013 all the related partytransactions entered into during the financial year under review were in ordinary courseof business and on an arm's length basis. There were no materially significanttransactions with related parties during the financial year which were in conflict withthe interest of the Company. Accordingly information in form AOC-2 is not annexed.
All Related Party Transactions are placed before the Audit Committee and the Board forapproval. Prior omnibus approval of the Audit Committee is obtained for the transactionswhich are of a foreseen and repetitive nature. The transactions entered into pursuant tothe omnibus approval so granted are placed before the Audit Committee and the Board ofDirectors for their review and approval on a quarterly basis.
Your attention is drawn to the Related Party disclosures set out in Note no 33 of theNotes forming of the Account.
ISO AND OTHER CERTIFICATION
The Company's manufacturing facilities at Himatpura (Bilodra) Ta. Mansa Dist:Gandhinagar continue to be certified to the latest version of ISO 9001:2008 ISO14001:2004 HACCP and GMP by leading International Certification Company. The Company isalso holding valid FSSAI and GPCB consents from Government authorities. Thesecertifications indicate our commitment in meeting in a sustainable manner Global QualityEnvironment Health and Safety Standards.
CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO
A statement highlighting details of the conservation of energy technology absorptionand foreign exchange earnings and outgo in accordance with section 134(3)(m) of the Actread with the Companies (Accounts) Rules 2014 is annexed hereto as Annexure -II.
MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY
There are no material changes and commitments affecting financial position of thecompany which have occurred between the end of financial year and date of report.
SUBSIDIARIES JOINT VENTURES AND ASSOCIATE COMPANIES
During the year under review Company does not have any subsidiary company and none ofthe companies has become or ceased to be Company's subsidiaries joint ventures orassociate companies.
REPORT ON THE PERFORMANCE AND FINANCIAL POSITION OF EACH OF THE SUBSIDIARIESASSOCIATES AND JOINT VENTURE COMPANIES
During the year under review none of the companies have become or ceased to beCompany's subsidiaries joint ventures or associate companies therefore Report on theperformance and financial position of each of the subsidiaries associates and jointventure companies is not require to be given.
DIRECTORS AND KEY MANAGERIAL PERSONNEL
Pursuant to Sections 149 152 and other applicable provisions if any of the CompaniesAct 2013 one-third of such of the Directors as are liable to retire by rotation shallretire every year and if eligible offer themselves for re-appointment at every AGM.
At the 30th Annual General Meeting (AGM) following appointments/ reappointments arebeing proposed:
1) Mr. Ishwarbhai B. Patel (DIN: 00206389) retires by rotation and being eligibleoffers for re-appointment in accordance with the provisions of the Companies Act 2013. Abrief resume of Mr. Ishwarbhai B. Patel is given separately in the notice covering AGM.Your Directors recommend his appointment for the Members' approval.
2) Nitin Ishwarbhai Patel (DIN: 00206561) retires by rotation and being eligibleoffers for re-appointment in accordance with the provisions of the Companies Act 2013. Abrief resume of Mr. Ishwarbhai B. Patel is given separately in the notice covering AGM.Your Directors recommend his appointment for the Members' approval.
The brief resume of the Directors being appointed/ reappointed the nature of theirexpertise in specific functional areas names of companies in which they have heldDirectorships Committee Memberships/ Chairmanships their shareholding etc. arefurnished in the explanatory statement to the notice of the ensuing AGM.
Pursuant to the provisions under Section 134(3)(d) of the Companies Act 2013 withrespect to statement on declaration given by Independent Directors under Section 149(6) ofthe Act the Board hereby confirms that all the Independent Directors of the Company havegiven a declaration and have confirmed that they meet the criteria of independence asprovided in the said Section 149(6).
Key Managerial Personnel
The Key Managerial Personnel (KMP) in the Company as per Section 2(51) and 203 of theCompanies Act 2013 are as follows:
|Mr. Ishwarbhai Baldevdas Patel ||: Managing Director |
|Mr. Ambalal Baldevdas Patel ||: Executive Director |
|Mr. Nitinkumar Ishwarbhai Patel ||: Whole Time Director |
|Mr. Ishwarbhai Baldevdas Patel ||: CEO |
|Mr. Nitinkumar Ishwarbhai Patel ||: CFO |
|Ms. Hiral M Patel ||: Company Secretary |
During the year under review there was no change (appointment or cessation) in theoffice of any KMP.
Declaration by Independent Director
As per the requirements of the Companies Act 2013 the company being a listed companyrequire to appoint independent Directors. Therefore requirement for obtaining Declarationby the Independent Directors pursuant to section 149 (6) Companies Act 2013 is applicableto the Company.
List of the Independent directors:
1) Mr. Radhakrishna Naraparaju
2) Mr. Piyushkumar Krishnaprasad Patel
3) Ms. Kalpanaben Jigneshbhai Pandya
The Independent Directors have submitted the declaration of Independence as requiredpursuant to Section 149(7) of the Companies Act 2013 stating that they meet the criteriaof independence as provided in sub section (6) and Regulation 16 (b) of the SEBI (ListingObligation and Disclosure Requirements) Regulations 2015.
DIRECTORS' RESPONSIBILITY STATEMENT
In accordance with the provisions of Section 134(3)(c) read with section 134(5) of theCompanies Act 2013 the Board of Directors states that:
1) in the preparation of the annual financial statements for the year ended March 312017 the applicable accounting standards have been followed along with proper explanationrelating to material departures if any;
2) such accounting policies have been selected and applied consistently and judgementand estimates have been made that are reasonable and prudent so as to give a true and fairview of the state of affairs of the Company as at March 31 2017 and of the profit of theCompany for the year ended on that date.
3) proper and sufficient care has been taken for the maintenance of adequate accountingrecords in accordance with the provisions of the Companies Act 2013 for safeguarding theassets of the Company and for preventing and detecting fraud and other irregularities;
4) the annual financial statements have been prepared on a going concern basis;
5) proper internal financial controls were in place and that the financial controlswere adequate and were operating effectively;
6) systems to ensure compliance with the provisions of all applicable laws were inplace and were adequate and operating effectively.
Our employees are the most valuable assets of the Company. We encourage innovationmeritocracy and the pursuit of excellence. The human resource development function of theCompany is guided by a spirit of corporate team building and dedication towardsstrengthening the Company's systems thereby improving efficiencies and registering growth.All personnel continue to have a healthy cordial and harmonious approach in problemsolving and enhancing Company value at all levels. Despite uncertain economic conditionsthe enthusiasm and unstinting efforts of the employees have enabled the Company tomaintain leadership in its business areas. The relationship with the workmen and staffremained cordial and harmonious during the year and the management received fullcooperation from the employees.
During the year extensive training and developmental activities were undertaken bothin-house and out-bound for the employees. Various efficiency and quality improvementinitiatives including some functional and behavioural training programs were undertaken.The total number of employees as on 31st March 2017 was 74.
PARTICULARS OF EMPLOYEES
The information required pursuant to Section 197 read with Rule 5 of The Companies(Appointment and Remuneration of Managerial Personnel) Rules 2014 in respect of employeesof the Company will be provided upon request. In terms of Section 136 of the Act theReport and Accounts are being sent to the Members and others entitled thereto excludingthe information on employees' particulars which is available for inspection by the Membersat the Registered Office of the Company during business hours on working days of theCompany up to the date of the ensuing Annual General Meeting. If any Member is interestedin obtaining a copy thereof such Member may write to the Company Secretary in thisregard.
The Company believes its employees are its biggest assets and aligns its compensationand benefits towards rewarding employees in line with its Rewards policy. The Companyfocuses on being market aligned as well as differentiate basis performance to drive a highperformance culture.
The Company believes that by means of the variable pay plan the Company is able to linka portion of compensation to the individual and business performance which creates astrong positive reinforcement. It also ensures that the employees of the Company arerewarded only when the shareholders' goals are met. The Company's variable pay plantherefore links the variable pay to both - individual performance and business resultssuch as sales growth and operating profits.
The company believes in balancing the competitiveness of pay as well as sustainabilityof the associated costs for the organization. The salary increases for this year wereaimed at maintaining the pay competitiveness with market as well as performance of theCompany.
The information required pursuant to Section 197 read with Rule 5 of The Companies(Appointment and Remuneration of Managerial Personnel) Rules 2014 in respect of employeesof the Company and Directors is attached herewith as Annexure - III.
DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS ORTRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY'S OPERATIONS IN FUTURE
The Company has not received any significant and material orders passed by theRegulators or Courts or Tribunals impacting the going concern status and Company'soperations in Future.
The Company has taken adequate insurance to cover the risks to its people plants andmachineries buildings and other assets.
RISK MANAGEMENT POLICY
The Company has taken sufficient insurance for the properties against risks of firestrike riot and earthquake. All the Assets of the company including InventoriesBuildings and Machinery are adequately insured.
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.
ANNUAL PERFORMANCE EVALUATION
In compliance with the provisions of the Companies Act 2013 and SEBI (ListingObligations and Disclosure Requirements) Regulations 2015 the performance evaluation wascarried out as under:
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. The Board and the Independent Directors were of theunanimous view that performance of the Board of Directors 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 there underand the Listing Agreement/ SEBI (Listing Obligations and Disclosure Requirements)Regulations 2015.
1) Independent Directors: In accordance with the criteria suggested by The Nominationand Remuneration Committee the performance of each independent director was evaluated bythe entire Board of Directors (excluding the director being evaluated) on variousparameters like preparedness participation value addition focus on governance andcommunication. The Board was of the unanimous view that each independent director wasbrought his / her rich experience to the deliberations of the Board. The Board alsoappreciated the contribution made by all the independent directors in guiding themanagement in achieving higher growth and concluded that continuance of each independentdirector on the Board will be in the interest of the Company.
2) Non-Independent Directors: The performance of each of the non-independent directors(including the Chairperson) was evaluated by the Independent Directors at their separatemeeting. Further their performance was also evaluated by the Board of Directors. Thevarious criteria considered for the purpose of evaluation included transparency businessleadership people leadership focus on governance communication preparednessparticipation and value addition. The Independent Directors and the Board were of theunanimous view that each of the non independent directors was providing good business andpeople leadership.
CORPORATE SOCIAL RESPONSIBILITY
Under Section 135 of the Companies Act 2013 the provision of Corporate SocialResponsibility is not applicable to the company for the financial year 2016-17.
The Company has constituted the audit committee as per requirement of section 177 ofthe Companies Act 2013 read with rule (6) of the Companies (Meetings of Board and itsPowers) Rules2014 and Regulation 18 of the SEBI (Listing Obligation and DisclosureRequirements) Regulations 2015 being a Listed company.
During the year under review the board has accepted all recommendations of auditcommittee and accordingly no disclosure is required to be made in respect ofnon-acceptance of any recommendation of the audit committee by the Board.
STAKEHOLDERS RELATIONSHIP COMMITTEE
The Company has constituted the Stakeholders Relationship Committee as per requirementof Section 178(5) of the Act and Regulations 20 of the Listing Regulations being a listedcompany. The Committee comprises of Ms. Kalpnaben J Pandya as the Chairperson anIndependent Director Mr. Ishwarbhai B Patel and Mr. Nitin I Patel as the other twomembers.
The Committee inter alia looks into redressing the grievances of the Security holdersof the Company viz. non-receipt of transferred shares and non- receipt of dividend amongothers. During the Financial Year 2016-2017 the Committee met for five times on 30th May2016 21st July 2016 28th October 2016 05th December 2016 and 20th January 2017 andthe same was attended by all the members of the Committee.
As per provisions of section 177(9) of the Act read with regulation 22(1) of ListingRegulations the Company is required to establish an effective vigil mechanism fordirectors and employees to report genuine concerns. The Company has a policy forprevention detection and investigation of frauds and protection of whistleblowers("Whistleblower Policy") in place. Detailed policy for Whistle blower isavailable at www.supercropsafe.com.
NOMINATION AND REMUNERATION COMMITTEE
The company has constituted Nomination and Remuneration Committee pursuant to section178 of the Companies Act 2013 read with rule (6) of the Companies (Meetings of Board andits Powers) Rules 2014 being a listed company. The Committee comprises of all independentdirectors Ms. Kalpnaben J Pandya as the Chairperson Mr. Piyush K Patel and Mr. N. R.Krishna as the other two members.
The Board has on the recommendation of the Nomination & Remuneration Committeeframed a policy for selection and appointment of Directors Senior Management and theirremuneration. During the year under review the Committee met once on 20th January 2017for the reappointment of Executive Directors and Managing Director of the Company.
CORPORATE GOVERNANCE & MANAGEMENT DISCUSSION AND ANALYSIS
Pursuant to the SEBI Listing Regulation Corporate Governance and Management Discussion& Analysis are not applicable to the company vide SEBI Circular No. CIR/CFD/POLICYCELL/7/2014 dated 15th September 2014 and therefore Corporate Governance not formingpart of the Annual Report.
ENVIRONMENTAL HEALTH SAFETY AND PROTECTION
The Company gives highest importance to Health Safety and Environment and encouragesand promotes safety awareness in true letter and spirit as an integral part of its workculture.
Process Safety Management is an integral part of all changes taking place in theprocess. Onsite emergency plans have been reviewed and updated by all divisions. Periodicmock drills are conducted at various divisions and reports indicate improved preparednessof employees.
To further strengthen the safety of overall operations and to promote a positive safetyculture and transparency your Company has introduced site specific Behavioural BasedSafety process at all its manufacturing locations and substantially invested for theimprovement of process safety.
Apart from employees the contractors and workmen are also given exhaustive training onsafety first-aid and fire-fighting. A green belt in and around the factory premises hasbeen maintained to enhance eco-friendliness.
DISCLOSURES UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION PROHIBITION& 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 year no complaint with allegations of sexual harassment was received bythe Company and hence no complaints remain pending as of 31 March 2017.
pursuant to the provisions of Sections 139 142 and other applicable provisions ifany of the Companies Act 2013 read with the Companies (Audit and Auditors) Rules 2014as may be applicable and pursuant to the recommendations of the Audit Committee M/s.Naresh J. Patel & Co. Chartered Accountants (Firm Registration No. 123227W) beappointed as statutory auditors of the Company in place of retiring auditors M/s. ParimalS. Shah & Co. Chartered Accountants (Firm Registration No. 107591W) to hold officefrom the conclusion of this Annual General Meeting (30th AGM) till the conclusion of the35th Annual General Meeting subject to ratification by members every year as applicableat such remuneration and out of pocket expenses as may be decided by the Board ofDirectors of the Company and its Committees."
As regards the comments made in the Auditor's Report the Board is of the opinion thatthey are self-explanatory and does not warrant further clarification.
The observations made by the auditors in their report read with the relevant notes asgiven in the notes to the financial statements for the year ended 31st March 2017 areself-explanatory and are devoid of any reservation qualification or adverse remarks.
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 M/s SPANJ & Associates a firm of Company Secretaries in Practice toundertake the Secretarial Audit of the Company. The Secretarial Audit Report is annexedherewith as "Annexure -IV".
Pursuant to Section 148 of the Companies Act 2013 read with The Companies (CostRecords and Audit) Amendment Rules 2014 is not applicable to the company for the yearunder review.
INTERNAL CONTROL SYSTEM AND ADEQUACY
The Company has established and maintained adequate internal control framework in linewith the Internal Financial Controls ("IFC") requirement within the meaning ofthe explanation to Section 134(5)(e) of the Companies Act 2013 including financialcontrols based on the internal control over financial reporting criteria established bythe Company considering the essential components of internal control stated in theGuidance Note on Audit of Internal Financial Controls Over Financial Reporting issued bythe Institute of Chartered Accountants of India (ICAI).
The Company has documented procedures covering all financial and operating functions.These controls have been designed to provide a reasonable assurance with regard tomaintaining of proper accounting controls monitoring of operations protecting assetsfrom unauthorised use or loses compliances with regulations and for ensuring reliabilityof financial reporting. The Company has continued its efforts to align all its processesand controls with global best practices in these areas as well.
The scope and authority of the Internal Audit (IA) function is defined in the InternalAudit Charter. To maintain its objectivity and independence the Internal Auditor placesInternal Audit reports before the Board of Directors. The Internal Auditor monitors andevaluates the efficacy and adequacy of internal control system in the Company itscompliance with operating systems accounting procedures and policies at all locations ofthe Company.
Audit Committee of the Board of Directors regularly reviews the audit planssignificant audit findings adequacy of internal controls compliance with accountingstandards as well as reason for changes in accounting policies and practices if any.Based on the report of Internal Auditor process owners undertake corrective action intheir respective areas and thereby strengthen the controls. Significant Audit observationsand corrective actions thereon are presented before the Board.
INFORMATION ON COMPANY'S SHARE PERFORMANCE
The market capitalisation of the Company has increased by 494.22 % (Rs. 107.91 Cr)against March 31 2016 (Rs.18.16 Cr). EPS as on March 31 2017 stands at Rs. 4.12 againstRs. 2.08 as on closing date of last Financial Year. The PE ration as on March 31 2017stands at 34.70 against 13.51 as on closing date of last Financial Year.
Your directors place on record their gratitude to the Central Government StateGovernments and Company's Bankers for the assistance co-operation and encouragement theyextended to the company. We also thank our customers vendors dealers investors andbusiness partners for their continued support during the year which made the Company growsuccessfully. We also place on record our appreciation of the contribution made by ouremployees at all levels. Our consistent growth was made possible by their hard worksolidarity cooperation and support.
|Place :Ahmedabad || |
For SUPER CROP SAFE LIMITED
|Date:26.05.2017 ||ISHWARBHAI B. PATEL ||NITINKUMAR I. PATEL |
| ||Chairman & Managing Director ||Director |
| ||[DIN: 00206389] ||[DIN: 00206561] |