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Wim Plast Ltd.

BSE: 526586 Sector: Industrials
NSE: WIMPLAST ISIN Code: INE015B01018
BSE 00:00 | 21 Mar 376.60 4.05
(1.09%)
OPEN

377.90

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380.65

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375.00

NSE 05:30 | 01 Jan Wim Plast Ltd
OPEN 377.90
PREVIOUS CLOSE 372.55
VOLUME 2193
52-Week high 573.00
52-Week low 335.00
P/E 11.27
Mkt Cap.(Rs cr) 452
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 377.90
CLOSE 372.55
VOLUME 2193
52-Week high 573.00
52-Week low 335.00
P/E 11.27
Mkt Cap.(Rs cr) 452
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Wim Plast Ltd. (WIMPLAST) - Director Report

Company director report

To the Members of Wim Plast Limited

Your Company's Directors are pleased to present the 34thAnnual Report of the Company along with the Audited Financial Statements for thefinancial year ended March 31 2022.

1. FINANCIAL PERFORMANCE

The financial performance of the Company for the financial year endedMarch 312022 is summarised below:-

(Rs in Lakhs)

Particulars

Standalone

Consolidated

F.Y. 2021-22 F.Y. 2020-21 F.Y. 2021-22 F.Y. 2020-21
Revenue from Operations 31675.41 26153.85 31875.14 26823.34
Other Income 1098.00 725.82 1096.40 728.17
Total Income 32773.41 26879.67 32971.54 27551.51
Profit before Interest Depreciation and Tax 6407.35 6099.57 6325.83 6058.61
Less:
Finance Cost 21.27 17.85 21.40 17.87
Depreciation 1626.76 1796.33 1627.81 1797.25
Tax Expenses 1225.40 1055.57 1204.12 1045.25
Profit after Tax 3533.92 3229.82 3472.50 3198.24
Less : Share of Non Controlling Interest - - (23.77) (12.64)
Net Profit for the year 3533.92 3229.82 3496.27 3210.88
Other Comprehensive Income 28.76 (8.37) 28.76 (8.37)
Total Comprehensive Income 3562.68 3221.45 3525.03 3202.51

2. COMPANY'S PERFORMANCE

The revenue from operations for financial year 2021-22 stood at Rs31675.41 Lakhs as compared to Rs 26153.85 Lakhs of the Financial Year 2020-21 therebyrecording an increase of 21.11%. The Profit after tax for the year increased from Rs3229.82 Lakhs in F. Y. 2020-21 to Rs 3533.92 Lakhs in F.Y. 2021-22 recording anincrease of 9.42%.

During the Financial Year 2021-22 the total revenue in plasticbusiness increased by 21.16 % as compared to the previous year whereas the revenue fromother segments/ products (which includes cooler moulds and die business) increased by20.66% as compared to the previous year.

3. DIVIDEND

Your Directors are pleased to recommend a Final Dividend of Rs 8/-(i.e. 80%) per equity share of face value of '10/- each for the Financial Year 2021-22aggregating to a total payout of Rs 9.60/- Crores subject to approval of Members at theensuing 34th Annual General Meeting of the Company and shall be paid withinthe statutory period to those members whose names appear in the register of membersholding shares either in physical form or in dematerialized form on the close of FridayJuly 29 2022.

The Dividend Distribution Policy in terms of Regulation 43A of theSecurities and Exchange Board of India (Listing Obligations and Disclosure Requirements)Regulations 2015 ("SEBI Listing Regulations") is available on theCompany's website at https://www.cellowimplast.com/company-policies/.

4. TRANSFER TO RESERVES

The Board does not propose transfer to reserves for the year 2021-22and an amount of Rs 3533.92 Lakhs is proposed to be retained in profit and loss accountfor the year ended 31st March 2022.

5. INVESTOR EDUCATION AND PROTECTION FUND (IEPF)

The Company transferred an amount of Rs 593496/- to the IEPFAuthority on September 29 2021 towards balance lying in respect of final dividend of thefinancial year ended 2013-14 and thereafter had transferred corresponding 1547 sharesheld by 15 shareholders to the IEPF Authority.

Shareholders /claimants whose shares unclaimed dividend have beentransferred to the aforestated IEPF Suspense Account or the Fund as the case may be mayclaim the shares or apply for refund by making an application to the IEPF Authority inForm IEPF- 5 (available onhttps://www.iepf.gov.in/content/iepf/global/master/Home/Home.html) along with requisitefee as decided by the IEPF Authority from time to time.

Further the Company shall be transferring the unclaimed Dividend forthe financial year 2014-15 to the IEPF Account on or before September 212022. The Companyshall also be transferring the shares on which the dividend has remained unclaimed for aperiod of seven consecutive years to the IEPF Account simultaneously on the same date.

Members are therefore requested to ensure that they claim the dividendsreferred above before they are transferred to the said Fund. Details of unpaid andunclaimed amounts lying with the Company as on as on last AGM date i.e. August 07 2021have been filed with Ministry of Corporate Affairs.

6. SHARE CAPITAL

As at March 312022 the Issued Subscribed and Paid-up Equity ShareCapital of the Company stood at Rs 120033600/- (Rupees Twelve Crores Thirty ThreeThousand Six Hundred Only) divided into 12003360 (One Crore Twenty Lakhs Three ThousandThree Hundred and Sixty Only) Equity Shares of Rs 10/- (Rupees Ten Only) each.

7. PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES

The statement containing particulars of employees as required underSection 197(12) of the Companies Act 2013 read with Rules 5(2) and 5(3) of the Companies(Appointment and Remuneration of Managerial Personnel) Rules 2014 is annexed herewith asAnnexure I (A) and forms part of this Report.

Other details in terms of Section 197(12) of the Companies Act 2013read along with Rule 5(1) of the Companies (Appointment and Remuneration of ManagerialPersonnel) Rules 2014 is annexed herewith as Annexure I (B) and forms part of thisReport.

8. SUBSIDIARY COMPANY/ JOINT VENTURE/ASSOCIATE

Your Company has two (2) non-material Subsidiary Companies - M/s. WimPlast Moldetipo Private Limited having trading of Tools and Dies business and M/s WimPlast Moulding Private Limited (Wholly-owned) having business of manufacturing of consumerproducts.

Statement containing salient features of the financial statements ofthese Subsidiary Companies in Form AOC-1 forms part of this Annual Report as Annexure -II.

In accordance with third proviso of Section 136(1) of the CompaniesAct 2013 the Annual Report of the Company containing therein its standalone and theconsolidated financial statements has been placed on the website of the Companywww.cellowimplast.com Further as per the fourth proviso of the said Section auditedannual accounts of the Subsidiary Companies have also been placed on the website of theCompany - www.cellowimplast.com There has been no material change in the nature ofbusiness of the said company.

Your Company does not have any joint venture or associate Company.

9. PUBLIC DEPOSITS

During the Financial Year 2021-22 the Company has not accepted anypublic deposits covered under the Companies Act 2013. As on 31st March 2022there were no deposits which were unclaimed and due for repayment.

10. CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGEEARNINGS / OUTGO

Information on conservation of energy technology absorption foreignexchange earnings and outgo required to be given pursuant to Section 134(3) (m) of theCompanies Act 2013 read with Rule 8 of the Companies (Accounts) Rules 2014 is annexedherewith as Annexure - III to this report.

11. BOARD OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

As on March 31 2022 the Board comprised of 10 (Ten) Directors namelyMr. Pradeep G. Rathod Mr. Pankaj G. Rathod Mr. Gaurav P. Rathod Ms. Karishma P. RathodMr. Sumermal M. Khinvesra Mr. Mahendra F. Sundesha Mr. Pushapraj D. Singhvi Mr.Sudhakar L. Mondkar Ms. Rasna R. Patel and Mr. Piyush S. Chhajed. During the year therewas a change in composition of Board. Mr. Fatechand M. Shah resigned from being a Directorof the Company w.e.f. 11th June 2021 due to old age and continuousill-health.

The Board at its meeting held on May 25 2022 approved change indesignation of Mr. Pankaj G. Rathod (DIN: 00027572) from Non-Executive Director toExecutive Director i.e. Joint Managing Director on the Board of Directors of the Companywith effect from June 1 2022 for a term of 5 (five) years at a remuneration of Rs 1.20Crores p.a. subject to approval of the shareholders of the Company.

As on 31st March 2022 there was no disqualification of anyDirector pursuant to Section 164 (2) of the Companies Act 2013. The other details withrespect to Board of Directors are given in Corporate Governance section forming part ofthis Report.

In accordance with the provisions of Companies Act 2013 and as perArticles of Association of the Company Mr. Gaurav P. Rathod (DIN: 06800983) Director ofthe Company is liable to retire by rotation at the ensuing 34th Annual General Meeting ofthe Company and being eligible offers himself for re-appointment and the Board recommendshis re- appointment. A resolution seeking shareholders' approval for hisre-appointment along with other required details forms part of the Notice.

All the Independent Directors on the Board have given a declaration oftheir independence to the Company as required under Section 149(6) of the Act andRegulation 16(1)(b) of the Securities and Exchange Board of India (Listing Obligations andDisclosure Requirements) Regulations 2015 ("Listing Regulations"). In theopinion of the Board all the Independent Directors possess the integrity expertise andexperience including the proficiency required to be Independent Directors of the Companyfulfil the conditions of independence as specified in the Act and the SEBI ListingRegulations and are independent of the management and have also complied with the Code forIndependent Directors as prescribed in Schedule IV of the Act.

The Company has received the following declarations from all theIndependent Directors confirming that:

(i) They meet the criteria of independence as prescribed under theprovisions of the Act read with the Schedule and Rules issued thereunder and the ListingRegulations. There has been no change in the circumstances affecting their status asIndependent Directors of the Company; and

(ii) They have registered themselves with the IndependentDirector's Database maintained by the IICA.

None of the Directors of the Company are disqualified for beingappointed as Directors as specified in Section 164(2) of the Act and Rule 14(1) of theCompanies (Appointment and Qualification of Directors) Rules 2014. As on March 312022the Key Managerial Personnel (KMP) of the Company were Mr. Pradeep G. Rathod (CEOChairman & Managing Director) Mr. Madhusudan R. Jangid (Chief Financial Officer) andMs. Darsha Adodra (Company Secretary and Compliance Officer). During the year underreview there has been no change in the KMP.

12. COMMITTEES OF THE BOARD

The Board has constituted necessary Committees pursuant to theprovisions of the Companies Act 2013 rules framed there under and SEBI (ListingObligations and Disclosure Requirements) Regulation 2015. The Committees of the Board areAudit Committee Stakeholders' Relationship Committee Nomination and RemunerationCommittee Corporate Social Responsibility Committee and Risk Management Committee.

Mr. Sumermal M. Khinvesra resigned from being a member of the AuditCommittee with effect from May 25 2022. Following this change the Committee stoodre-constituted with Mr. Piyush S. Chhajed being the Chairman of the Audit Committee.

The Board has accepted all the recommendations of the above committees.The details about Composition of Committees and their Meetings are incorporated in theBoard of Directors in Corporate Governance section forming part of this Report.

13. ANNUAL RETURN

Pursuant to Section 92(3) read with Section 134(3)(a) of the Act theAnnual Return as on March 31 2022 is available on the Company's website at weblink:https://www. cellowimplast.com/annual-report/.

14. NUMBER OF MEETINGS OF THE BOARD

During the year 2021-22 Five (5) Board Meetings were held on 11thJune 20212nd July 2021 11th August 2021 11th November 2021 and 14th February 2022.The maximum time-gap between any two consecutive meetings did not exceed 120 days. Furtherdetails regarding Board Meetings are given in the Section of Corporate Governance whichforms part of this Report.

15. FAMILIARISATION PROGRAMME FOR THE INDEPENDENT DIRECTORS

In compliance of the SEBI (Listing Obligations and DisclosureRequirements) Regulations 2015 (SEBI (LODR) Regulations") the Company has put inplace a Familiarization Programme for the Independent Directors to familiarize them withthe Company their roles rights responsibilities in the Company nature of the industryin which the Company operates business model etc. The details of such programme areavailable on the website of the company http://www.cellowimplast.com and may be accessedthrough the web link https://www.cellowimplast.com/news/

16. DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 134 (3) (C) read with Section 134 (5) of theCompanies Act 2013 Directors state that:

a) In the preparation of Annual Accounts for the year ended on March31 2022 the applicable accounting standards have been followed and there are no materialdepartures from the same;

b) The Directors have selected such accounting policies and appliedthem consistently and made judgments and estimates that are reasonable and prudent so asto give a true and fair view of the state of affairs of the Company at the end of thefinancial year on March 312022 and the profit of the Company for that period;

c) The Directors have taken proper and sufficient care for themaintenance of the adequate accounting records in accordance with the provisions of theCompanies Act 2013 for safeguarding the assets of the Company and for preventing anddetecting fraud and other irregularities;

d) The Directors have prepared Annual Accounts on a going concernbasis;

e) The Directors have laid down internal financial controls to befollowed by the Company and that such financial controls are adequate and are operatingeffectively; and

f) The Directors have devised proper systems to ensure compliance withthe provisions of all applicable laws and that such system are adequate and operatingeffectively.

17. DECLARATIONS GIVEN BY INDEPENDENT DIRECTORS

The Company has received necessary declarations from all theIndependent Directors confirming that they meet the criteria of independence as prescribedboth under section149 (6) of the Companies Act 2013 and under Regulation 16(1)(b) of SEBI(Listing Obligations and Disclosure Requirements)Regulations 2015.

18. NOMINATION AND REMUNERATION COMMITTEE

The Board has framed a policy on the recommendation of the Nominationand Remuneration Committee relating to remuneration of the Directors Key ManagerialPersonnel Senior Management and other employees along with the criteria for appointmentand removal of the Directors Key Managerial Personnel and Senior Management of theCompany. The Nomination and Remuneration Committee is fully empowered to determine/approveand revise subject to necessary approvals the remuneration of managerial personnelafter taking into account the financial position of the Company trends in the industryqualifications experience past performance and past remuneration etc. The policy isavailable at Company's website at https://www. cellowimplast.com/news/.

The other details with respect to committee composition and meetingsare given in Board of Directors Section of Corporate Governance Report annexed to thisReport.

19. AUDITORS & THEIR REPORT

a) Statutory Auditor:

In terms of Section 139 of the Companies Act 2013 M/s Jeswani &Rathore Chartered Accountants (FRN: 104202W) have been appointed as Statutory Auditors ofthe Company in 29th Adjourned Annual General Meeting of the Company till the conclusion ofthe 34th Annual General Meeting of the Company subject to ratification by the Members atevery intervening Annual General Meeting. The requirement of seeking ratification of themembers for continuance of Statutory Auditors appointment was withdrawn consequent uponthe changes made by the Companies (Amendment) Act 2017 w.e.f. May 7 2018.

The Statutory Auditor have confirmed their eligibility and submittedthe certificate in writing that they are not disqualified to hold the office of thestatutory auditor. Further in terms of the Listing Regulations the Auditors haveconfirmed that they hold a valid certificate issued by the Peer Review Board of the ICAIand have given their consent to be re-appointed as the Statutory Auditors of the Companyto hold office for a further term of five (5) years from the conclusion of forthcoming34th Annual General Meeting till the conclusion of the 39th Annual General Meeting of theCompany.

Accordingly the Board considered and approved their re-appointment fora further term of 5 (five) consecutive years from the conclusion of this 34th AnnualGeneral Meeting till the conclusion of the 39th Annual General Meeting of the Company atits meeting held on May 25 2022 on the recommendations of the Audit Committee subject tomembers approval. The resolution seeking approval of the members for re-appointment ofStatutory Auditors of the Company to hold office and is being placed at the ensuingAnnual General Meeting.

The Statutory Auditors M/s Jeswani & Rathore Chartered Accountantshave issued their reports on Financial Statements for the year ended March 31 2022. Thereare no adverse remarks or qualifications in the said report. The Notes on Accountsreferred to in the Auditors' Report are self-explanatory and do not call for anyfurther comments. The Members are therefore requested to approve the Auditors'Report.

b) Secretarial Auditor:

In compliance with the provisions of Section 204 and other applicableprovisions of Companies Act 2013 the Board of Directors had appointed M/s. HSPN &Associates LLP (formerly known as HS Associates) Practising Company Secretaries asSecretarial Auditors to undertake secretarial audit of the Company for the financial year2021-22. The Secretarial Audit Report is attached herewith marked as "Annexure-IV" and forms an integral part of this report. The Report does not contain anyqualifications.

The Board has re-appointed M/s HSPN & Associates LLP PractisingCompany Secretaries to undertake Secretarial Audit of the Company for the Financial Year2022-23.

c) Internal Auditor:

The Board has re-appointed M/s. B. P. Shah & Co. CharteredAccountants (FRN - 109517W) Mumbai as the Internal Auditor of the Company for theFinancial Year 2022-23.

d) Cost Auditor:

The Company is required to maintain Cost Records as specified by theCentral Government under sub-section (1) of section 148 of the Companies Act 2013.Accordingly the Company has made and maintained such accounts and records.

The Board had appointed Mr. Pradip Mohanlal Damania Cost &Management Accountant (FRN: 101607) as the Cost Auditor of the Company for the FinancialYear 2021-22. The Cost Audit Report for F. Y 2020-21 has been duly filed with the Ministryof Corporate Affairs. They being eligible and willing to be re-appointed as Cost Auditorwere appointed as the Cost Auditor of the Company for the financial year 2022-2023 by theBoard of Directors upon the recommendation of the Audit Committee. A resolution seekingMembers' approval for remuneration payable to Cost Auditor forms part of the Noticeof the 34th Annual General Meeting of the Company and same is recommended foryour consideration.

The Cost Auditors have certified that their appointment is within thelimits of Section 141(3)(g) of the Companies Act 2013 and that they are not disqualifiedfrom appointment within the meaning of the said Act.

20. REPORTING OF FRAUDS

There was no instance of fraud during the year under review whichrequired the Statutory Auditors to report to the Audit Committee and/or Board underSection 143(12) of the Act and Rules framed there under.

21. PARTICULARS OF LOANS GUARANTEES OR INVESTMENTS

The particulars of loans guarantees and investments as per Section 186of the Act by the Company have been disclosed in the financial statements.

22. TRANSACTIONS WITH RELATED PARTIES

All the transactions with Related Parties were placed before the AuditCommittee as also before the Board for approval. Prior omnibus approval of the AuditCommittee and the Board is obtained for the transactions which are of a foreseen andrepetitive nature.

All transactions entered into with related parties during the year wereon arm's length basis largely in the ordinary course of business and in line withthe threshold of materiality defined in the Company's policy on Related PartyTransactions & are in accordance with the provisions of the Companies Act 2013 Rulesissued thereunder & Regulation 23 of (SEBI Listing Obligations and DisclosureRequirements) Regulations 2015. During the financial year ended March 312022 there wereno transactions with related parties which qualify as material transactions.

The details of the related party transactions are set out in Note 46 tothe standalone financial statements forming part of this Annual Report. The Form AOC-2pursuant to section 134(3)(h) of the Companies Act read with Rule 8(2) of the Companies(Accounts) Rules 2014 is set out as Annexure - V to this Report. The Policy on RelatedParty Transactions as approved by the Board is also uploaded on the Company's websiteat https://www. cellowimplast.com/company-policies/

23. CONSOLIDATED FINANCIAL STATEMENTS AND CASH FLOW

The Consolidated Financial Statements of the Company for the FinancialYear 2021-22 are prepared in compliance with the applicable provisions of the ActAccounting Standards and as prescribed by Listing Regulations. The said FinancialStatements have been prepared on the basis of the audited financial statements of theCompany and the subsidiary as approved by their respective Board of Directors. A statementcontaining the salient features of the Financial Statements of Subsidiary Companies in theprescribed format AOC-1 is annexed herewith as Annexure - II to this Report. The statementalso provides the details of performance and financial position of the SubsidiaryCompanies.

As required under the regulation 34(2)(c) of the Listing Regulations acash flow statement is part of the Annual Report 2021-2022.

24. RISK MANAGEMENT

The Board has constituted Risk Management Committee headed by anIndependent Director. The key risks pertaining to the Company and mitigating actions areplaced before the Audit Committee. A Risk Management Policy is framed to proactivelymanage uncertainty and changes in the internal and external environment to limit negativeimpacts and capitalize on opportunities.

The Risk Management policy of the Company is available onCompany's website at https://www.cellowimplast.com/company-policies/ The details ofthe Risk Factors and the Committee composition and meetings are given in Board ofDirectors in Corporate Governance section forming part of this Report.

25. CORPORATE SOCIAL RESPONSIBILITY

The Board has constituted a Corporate Social Responsibility("CSR") Committee in terms of the provisions of Section 135 of the CompaniesAct 2013 read with Companies (Corporate Social Responsibility Policy) Rules 2014. Thecomposition and terms of reference of the CSR Committee is provided in the CorporateGovernance report forming part of this Report. The policy is available on the website ofthe Company at https://www.cellowimplast.com/company-policies/

During the year the Corporate Social Responsibility (CSR) expenditureincurred by the Company was Rs 105.66 Lakhs. The annual report on CSR activitiesundertaken during the financial year 2021-22 is in accordance with the provisions of theCompanies Act 2013 and Companies (Corporate Social Responsibility Policy) Rules 2014 andis appended as Annexure-VI to this Report. During the year the Company had successfullycompleted its CSR obligation.

26. EVALUATION OF BOARD

Pursuant to the provisions of the Act and provisions of SEBI (ListingObligations and Disclosure Requirements) Regulations 2015 a separate exercise wascarried out to evaluate the performance of individual Directors including the Chairman ofthe Board who were evaluated on parameters such as level of engagement and contributionand independence of judgment thereby safeguarding the interest of the Company. Theperformance evaluation of the Independent Directors was carried out by the entire Board.The performance evaluation of the Chairman and the Non - Independent Directors was carriedout by the Independent Directors. The board also carried out annual performance evaluationof the working of its Audit Nomination and Remuneration as well as StakeholderRelationship Committee. The Directors expressed their satisfaction with the evaluationprocess.

27. CORPORATE GOVERNANCE REPORT & MANAGEMENT DISCUSSION ANDANALYSIS STATEMENT Your Company continues to lay a strong emphasis on transparencyaccountability and integrity.

The Company has taken the requisite steps to comply with therecommendations concerning Corporate Governance. As provided under Section 134 of theCompanies Act 2013 and Rules framed thereunder and pursuant to Regulation 34(2) (d) ofthe SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 the Reporton Corporate Governance along with necessary certificates is set out in Annexure - VII andforms part of this Report.

Also the statement of Management Discussion and Analysis givingdetails of the overview industry structure and developments performance of the Companyetc. forms part of this report as Annexure -VIII.

28. LISTING OF SHARES

The shares of the Company are listed on BSE Limited (BSE). Theapplicable listing fees for the year upto F. Y. 2022-23 have been duly paid to BSE.

29. CHANGE IN THE NATURE OF BUSINESS

During the period under review there is no change in the nature ofbusiness of the Company.

30. MATERIAL CHANGES AFFECTING THE FINANCIAL POSITION OF THE COMPANYFROM THE END OF FINANCIAL YEAR AND TILL THE DATE OF SIGNING OF REPORT

There were no material changes and commitments affecting the financialposition of the Company which occurred between the end of the financial year and the dateof this Report.

31. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTSOR TRIBUNALS

There were no significant material orders passed by theRegulators/Courts/ Tribunals during the previous year which would impact the going concernstatus of the Company and its future operations.

32. VIGIL MECHANISM / WHISTLE BLOWER POLICY

The Vigil Mechanism Policy aims to provide a channel to the Directorsand employees to report genuine concerns about unethical behavior actual or suspectedfraud or violation of the Code of Conduct or policy. The mechanism provides for adequatesafeguards against victimization of Directors and Employees and ensures that theactivities of the Company and its employees are conducted in a fair and transparent mannerby adoption of highest standards of professionalism honesty integrity and ethicalbehaviour. A copy of the Policy is available on the website of the Company and may beaccessed through the weblink http://www.cellowimplast.com/whistle-blower-policy/

33. DISCLOSURE UNDER THE SEXUAL HARRASSMENT OF WOMEN AT WORKPLACE(PREVENTION PROHIBITION AND REDRESSAL) ACT 2013

The Company has zero tolerance towards sexual harassment at workplaceand has adopted a Policy on prevention prohibition and redressal of sexual harassment atworkplace in line with the requirements of the Sexual Harassment of Women at Workplace(Prevention Prohibition and Redressal) Act 2013 and Rules made thereunder. As requiredunder law an Internal Complaints Committee has been constituted for reporting andconducting inquiry into the complaints made by the victim on the harassments at the workplace. During the year under review there were no cases filed or reported pursuant to theprovisions of the said Act.

34. INTERNAL FINANCIAL CONTROLS

The Company has adequate system of internal control to safeguard andprotect from loss unauthorized use or disposition of its assets commensurate with itssize scale and complexities of its operations. The internal auditor of the Company checksand verifies the internal control and monitors them.

The Audit Committee of the Board of Directors actively reviews theadequacy and effectiveness of the internal control systems and suggests improvements tostrengthen the same. All the transactions are properly authorised recorded and reportedto the Management. The Company is following all the applicable Accounting Standards forproperly maintaining the books of accounts and reporting financial statements.

35. BUSINESS RESPONSIBILITY REPORT

A Business Responsibility Report as per Regulation 34 of the SEBI(Listing Obligations & Disclosure Requirements) Regulations 2015 forms part of thisAnnual Report as Annexure -IX.

36. OTHER DISCLOSURES

No application has been made under the Insolvency and Bankruptcy Codehence the requirement to disclose the details of application made or any proceedingpending under the Insolvency and Bankruptcy Code 2016 (31 of 2016) during the yearalongwith their status as at the end of the financial year is not applicable to theCompany.

The requirement to disclose the details of difference between amount ofthe valuation done at the time of onetime settlement and the valuation done while takingloan from the Banks or Financial Institutions along with the reasons thereof is also notapplicable. Re-classification of Promoters

During the F.Y the Company had received requests from a few members ofthe Promoter and Promoter Group (hereinafter referred to as the "applicants")for re-classification of their shareholding u/r 31A of SEBI Listing Regulations fromPromoter into Public category as they are not involved in the management of the Companyand do not have any direct or indirect control over the affairs of the Company or in anydecision-making process. As on date of signing of this report one application is pendingfor BSE approval.

37. ACKNOWLEDGEMENTS

The Board of Directors place on record sincere gratitude andappreciation for all the employees of the Company. Our consistent growth was made possibleby their hard work solidarity cooperation and dedication during the year.

The Board conveys its appreciation for its customers shareholderssuppliers as well as vendors bankers business associates regulatory and governmentauthorities for their continued support.

For and on behalf of the Board of Wim Plast Limited

Pradeep G. Rathod

CEO Chairman & Managing Director

(DIN: 00027527)

Date: May 25 2022 Place: Mumbai

.