Directors Report of Alkali Metals Ltd.
Mar 31, 2018
Directors'' Report
To,
The Members,
Alkali Metals Limited
Your Directors have pleasure in presenting the 50th Annual Report on the business and operations of the Company and the accounts for the Financial Year ended 31st March, 2018.
1. Financial Summary or Highlights / Performance of the Company
The performance of the Company for the financial year ended 31st March, 2018 is summarized as below:
|
|
(All figures in INR) |
|
|
|
2017-18 |
2016-17 |
|
Net Turnover |
657,798,312 |
611,236,798 |
|
Profit / (Loss) before finance charges, depreciation and taxation |
73,576,511 |
72,568,077 |
|
Less: Finance Charges |
25,246,821 |
29,646,932 |
|
Depreciation and Amortization expense |
34,772,450 |
36,196,672 |
|
Profit / (Loss) before exceptional items and tax |
13,557,240 |
6,724,473 |
|
Less: Exceptional Items |
484,751 |
2,876,238 |
|
Extraordinary Items |
0 |
0 |
|
Profit / (Loss) before tax |
13,072,489 |
3,848,235 |
|
Less: Current Year''s tax (MAT) |
2,799,034 |
641,355 |
|
MAT Credit Entitlement |
(2,799,034) |
(641,355) |
|
Previous Years |
3,833 |
398,732 |
|
Deferred tax (AS22) |
0 |
(74,,644) |
|
Profit / (Loss) After tax |
13,068,656 |
3,524,147 |
|
Other Comprehensive Income (net) |
1,631,464 |
154,120 |
|
Total Comprehensive income for the period |
14,700,120 |
3,678,267 |
2. Dividend
Dividend of INR 1/- per equity share of INR 10/- each has been recommended by the Board of Directors forthe financial year ended 31st March, 2018 subject to approval of the shareholders at the ensuing Annual General Meeting. Dividend if approved will be paid within 30 days of the Annual General Meeting.
3. Reserves
During the year under review, Company has not transferred any amount to General Reserves.
4. Brief description of the Company''s performance during the year
During the financial year 2017-18, the Company recorded a turnover of INR 657.80 Million compared to the turnover of INR 611.24 Million during 2016-17. Net Profit during the financial year 2017-18 is INR 14.70 Million compared to Net Profit of INR 3.68 Million achieved during 2016-17.
The Company achieved 8% growth in turnover and 3 times gain in net profit.
Your Directors are confident that Company will be able to achieve better turnover and margins in the coming year.
SIGNIFICANT ACHIEVEMENT
Company is a regular foreign exchange earner; following are the details of Net foreign exchange earnings in the last 3 years.
|
|
|
(All figures in Millions) |
|
2015-16 |
2016-17 |
2017-18 |
|
226.8 |
153.6 |
175.2 |
5. Future outlook
Your Company continues to focus on campaign products in addition to increasing the sales volume of newly commercialized products. Company expects to commercialize three to four products in the current financial year. Efforts of the Company will help to improve the profitability in the current financial year. Further, the Company plans to implement various marketing strategies to counter the competition from other manufacturers and boost the regular products to increase the turnover as well as margins.
6. Research & Development
Company has spent INR 15.84 Million towards Research and Development during the financial year and is putting continuous efforts in R&D to develop new products and process for optimum material consumptions by effective yield.
The revenues generated by the R&D products in the last 3 years are
|
|
|
(All figures in Millions) |
|
2015-16 |
2016-17 |
2017-18 |
|
69.1 |
11.3 |
74.1 |
7. Change in the nature of business, if any
Company had not changed its nature of business during the financial year under review.
8. Material changes and commitments after the closure of financial year
Company had not faced any material changes subsequent to the closure of the financial year, which will affect the financial position or operations of the Company.
9. Significant and Material Orders
There are no significant and material orders passed by the regulators or court or tribunals impacting the going concern status and Company operations in future.
10. Internal Financial Controls
Your Company has adequate internal controls and such procedures are adopted by the Company for ensuring orderly and efficient conduct of its business, including safeguarding of all its assets and prevention /detection of frauds and errors, accuracy and completeness of accounting records.
Auditors have verified the internal financial controls and tested the adequacy and procedures adopted by the Company and confirm that the controls are adequate to the size of the transactions. The management reviews and monitors the controls and process on a regular basis.
11. Risk Management
Management of the Company will take adequate steps in identifying, assessing, controlling and mitigating the risks associated with different areas of its business operations.
12. Details of Subsidiaries / Joint Ventures / Associate Companies
Your Company had no Subsidiaries, Joint Ventures and Associate companies during the financial year under review.
13. Deposits
Your Company has not accepted any deposits covered under Chapter V of the Companies Act, 2013 during the financial year under review and also has no outstanding deposits at the beginning of the financial year.
14. Auditors
Statutory Auditors
M/s. C K S Associates, Chartered Accountants were appointed as Statutory Auditors of the Company at the Annual General Meeting held on 21st August 2014 for a period of 5 years i.e uptoyear 2019, subject to ratification of their appointment at every annual general meeting in terms of the provisions of Companies Act, 2013. However as per the amended provisions of the Companies Act, 2017 notified on 07.05.2018 Company is not required to ratify the appointment of auditors at every annual general meeting, therefore, it is not proposed to ratify the appointment of auditors at the ensuing Annual General Meeting.
Auditors have observed that an amount of INR 14,34,921 has not been paid towards income tax dues for the assessment year 2002-03. Company confirms that provision has been made for the said amount but due to non receipt of consequential order from the department amount is not paid by the Company.
Internal Auditors
Board of directors of the Company has appointed M/s. Ramakrishna & Associates, Chartered Accountants as Internal Auditors to conduct Internal Audit of the Company for the financial year ended 31st March, 2018.
Secretarial Auditors
Board of directors of the Company has appointed CS B. Venkatesh Babu, Practicing Company Secretary as Secretarial Auditor to conduct Secretarial Audit of the Company for the financial year ended 31st March, 2018.
15. Share Capital
Your Company had not issued and raised any share capital including sweat equity, employee stock options during the financial year under review. Your Company had also not provided any money for purchase of its own shares by employees or for the benefit of employees.
16. Extract of the Annual Return
Extract of the annual return in Form MGT- 9 is enclosed as Annexure -1 and shall form part of the Board''s report.
17. Conservation of energy, technology absorption and foreign exchange earnings and outgo
The details of conservation of energy, technology absorption, foreign exchange earnings and outgo have been provided in Annexure - 2 and shall form part of this report.
18. Corporate Social Responsibility (CSR)
Your Company is not covered under the provisions of Corporate Social Responsibility. However, the Company realizes its Social Responsibility and, therefore, providing free medical help to the poor people and financial assistance to the poor students through a Charitable Trust run by the promoters.
19. Directors
Since the last annual general meeting there is no change in the Board of Directors of the Company.
During the year under review, Mr. YV. Prashanth, Executive Director and Sri. YS.R.Venkata Rao, Managing Director are re-appointed and both the re-appointments will be placed at the ensuing Annual General Meeting for approval of the members.
Smt. YLalithya Poorna, Director will retire by rotation at the ensuring annual general meeting and, being eligible, offers herself for reappointment.
Details of no. of Board meetings are covered under the Corporate Governance section. Declaration by an Independent Director
Company had received the declaration by Independent Director(s) that he / they meet the criteria of independence as per the provisions of Section 149 of Companies Act, 2013.
Formal Annual Evaluation
Pursuant to provisions of the Companies Act, 2013 the Board has devised a policy on evaluation of performance of Board of Directors, Committees and Individual Directors. Accordingly, Chairman of the Nomination and Remuneration Committee obtained from all the board members duly filled in evaluation templates for evaluation of the Board as a whole, evaluation of the committees and peer evaluation. The summary of the evaluation reports were presented to the respective Committees and the Board for their consideration.
20. Key Managerial Persons
During the year under review Ms. M. Neeharika was appointed as Company Secretary and Compliance officer to fill the casual vacancy, in compliance with the provisions of the Companies Act, 2013.
21. Director''s Responsibility Statement
As per the provisions of clause (c) of sub-section (3) of Section 134 of the Companies Act, 2013, your Directors shall state that
(a) in preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;
(b) the directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit or loss of the Company for that period;
(c) the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;
(f) the directors have prepared the annual accounts on a going concern basis;
(e) the directors, have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and were operating effectively; and
(f) the directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.
22. Committees
Your Company has Audit Committee, Nomination and Remuneration Committee and Stakeholders Relationship Committee and the details are provided in the Corporate Governance section.
23. Vigil mechanism for Directors and Employees
The Company believes in the standard of conduct which all employees are expected to observe in their business endeavours. The Code (Vigil Mechanism) reflects the Company''s commitment to principles of integrity, transparency and fairness. The copy of the Code of Vigil Mechanism is available on the Company website www.alkalimetals.com under Investors tab.
The Company has adopted a Whistle Blower Policy, as part of vigil mechanism to provide appropriate avenues to the Directors and employees to bring to the attention of management any issue which is perceived to be in violation of or in conflict with the fundamental business principles of the Company. The employees are encouraged to voice their concerns by way of whistle blowing and all the employees have been given access to the Audit Committee.
The Executive Director Mr. Y.V.PRASHANTH is designated as ombudsperson to deal with all the complaints registered under the policy.
24. Policy on Sexual Harassment
Company had adopted policy on Prevention of Sexual Harassment of Women at Workplace in accordance with The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. During the year there were no complaints / incident of harassment.
25. Particulars of loans, guarantees or investments
Company had not given any loans, guarantees or made investments as per the provisions of Section 186 of the Companies Act, 2013 during the financial year under review and also there are no outstanding amounts of loans given, guarantees provided and / or investments made at the beginning of the year.
26. Particulars of contracts or arrangements with related parties
The Company had not entered into any contract or arrangements with related parties referred to in sub-section (1) of section 188 of the Companies Act, 2013 including certain arms lengthtransactions under third proviso thereto.
The Company has formulated a policy on materiality of Related Party Transactions and dealing with Related Party Transactions which can be accessed at the Company website www.alkalimetals.com under Investors tab.
27. Managerial Remuneration / Employee Details
The Details required to be provided pursuant to Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are enclosed as Annexure-3 and the same form part of the Directors Report.
There are no employees in the Company in receipt of amounts covered in rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.
28. Secretarial Audit Report
Secretarial Audit Report given by CS B. Venkatesh Babu, Company Secretary in Practice is enclosed as Annexure - 4 and the same forms part of this report.
29. Corporate Governance / Management Discussion and Analysis
In terms of Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a Report on Corporate Governance along with Compliance Certificate issued by Statutory Auditors of the Company and also the Management Discussion and Analysis report is annexed to this Annual Report and forms integral part of this Report.
30. Insurance
All the properties and insurable interests of the Company including building, plant and machinery and stocks have been adequately insured.
31. Listing on Stock Exchanges
The securities of the Company are continued to be listed on BSE and NSE. The listing fees for these stock exchanges are paid for the current financial year.
32. Cost Audit
Pursuant to provisions of section 148 of the Companies Act, 2013 read with Companies (Cost Records and Audit) Rules, 2014 cost audit is not applicable for the financial year 2017-18 to the Company.
33. Acknowledgements
Your Directors express their gratitude to all stakeholders, bankers, Regulatory Authorities, Government, customers, suppliers, business associates, from India and abroad, staff and workers for their continued support at all times and look forward to have the same in our future endeavours. Directors are pleased to record their appreciation of the sincere and dedicated services of the employees and workmen at all levels.
Your Directors look forward to the long term future with confidence.
|
For and on behalf of Board of Directors |
||
|
|
Alkali Metals Limited |
|
|
|
Y.S.R. VENKATA RAO |
DR. J.S. YADAV |
|
Place : Hyderabad |
MANAGING DIRECTOR |
CHAIRMAN |
|
Date : 12.05.2018 |
DIN: 00345524 |
DIN: 02014136 |
ANNEXURE -1
EXTRACT OF ANNUAL RETURN as on the financial year ended on 31/03/2018
[Pursuant to Section 92(3) of the Companies Act, 2013 and Rule 12(1) of the Companies Management and Administration) Rules, 2014]]
|
I. REGISTRATION AND OTHER DETAILS: |
|
|
(i) CIN : |
: L27109TG1968PLC001196 |
|
(ii) Registration Date : |
: 17/04/1968 |
|
(iii) Name of the Company : |
: Alkali Metals Limited |
|
(iv) Category / Sub-Category of the Company : |
: Limited Company / Indian Non Govt Company |
|
(v) Address of the Registered office and : contact details |
: B-5, IDA, Uppal, Hyderabad - 500039 |
|
(vi) Whether listed Company : |
: Yes |
|
(vii) Name, Address and Contact details of : Registrar and Transfer Agent, if any |
: Cameo Corporate Services Limited Subramanian Building, No.1 Club House Road, Chennai - 600 002 Mr. Murali 044-28460390 [email protected] CIN: U67120TN1998PLC041613 |
II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY:
All the business activities contributing 10% or more of the total turnover of the Company shall be stated:
|
SI.No. |
Name and Description of main products / services |
NIC Code of the Product / service |
% to total turnover of the Company |
|
1 |
Sodium Derivatives |
20119 |
67.75 |
|
2 |
Pyridine Derivatives |
20119 |
11.16 |
|
3 |
Fine Chemicals |
20119 |
17.66 |
III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES:
|
SI.No. |
Name and address of the Company |
CIN / GLN |
Holding / Subsidiary / Associate |
% of shares held |
Applicable Section |
|
|
NIL |
|
|
|
|
IV. SHARE HOLDING PATTERN
(Equity Share Capital Breakup as percentage of Total Equity):
i) Category-wise Share Holding: Equity
|
|
No. of Shares held at the beginning of the year |
No. of Shares held at the end of the year |
% of Change during the Year |
||||||
|
Category of Shareholders |
Demat |
Physical |
Total |
% of Total Shares |
Demat |
Physical |
Total |
% of Total Shares |
|
|
(A) Promoters |
|
|
|
|
|
|
|
|
|
|
(1) Indian |
|
|
|
|
|
|
|
|
|
|
(a) Individual / HUF |
6904715 |
0 |
6904715 |
67.810 |
6904715 |
0 |
6904715 |
67.810 |
0 |
|
(b) Central Govt |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
(c) State Govt(s) |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
(d) Bodies Corp. |
633 |
0 |
633 |
0.006 |
633 |
0 |
633 |
0.006 |
0 |
|
(e) Banks / Fl |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
(f) Any Other Directors & relatives |
195494 |
0 |
195494 |
1.920 |
195494 |
0 |
195494 |
1.920 |
0 |
|
Sub-Total (A)(1) |
7100842 |
0 |
7100842 |
69.736 |
7100842 |
0 |
7100842 |
69.736 |
0 |
|
(2) Foreign |
|
|
|
|
|
|
|
|
|
|
(a) NRIs -Individuals |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
(b) Other -Individuals |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
(c) Bodies Corp. |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
(d) Banks / Fl |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
(e) Any Other |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
Sub-Total (A)(2) |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
Total Shareholding of Promoter (A)=(A)(1) (A)(2) |
7100842 |
0 |
7100842 |
69.736 |
7100842 |
0 |
7100842 |
69.736 |
0 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
(1) Institutions |
|
|
|
|
|
|
|
|
|
|
(a) Mutual Funds |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
(b) Banks / Fl |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
(c) Central Govt |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
(d) State Govt(s) |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
(e) Venture Capital funds |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
(f) Insurance Companies |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
(9) Flls |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
(h) Foreign Venture Capital Funds |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
(i) Others (Specify) |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
Sub-Total (B)(1) |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
(2) Non- Institutions |
|
|
|
|
|
|
|
|
|
|
(a) Bodies Corp. |
|
|
|
|
|
|
|
|
|
|
i. Indian |
280331 |
0 |
280331 |
2.753 |
253010 |
0 |
253010 |
2.485 |
(0.268) |
|
ii. Overseas |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
(b) Individuals |
|
|
|
|
|
|
|
|
|
|
i. Individual shareholders holding nominal share capital up to 0.1 million |
2229944 |
1083 |
2231027 |
21.910 |
2105358 |
783 |
2106141 |
20.684 |
(1.226) |
|
ii. Individual shareholders holding nominal share capital in excess of 0.1 million |
353694 |
0 |
353694 |
3.474 |
460332 |
0 |
460332 |
4.521 |
1.047 |
|
(c) Others (Specify) |
|
|
|
|
|
|
|
|
|
|
NRI |
95122 |
0 |
95122 |
0.934 |
80872 |
0 |
80872 |
0.794 |
(0.140) |
|
HUF |
107371 |
0 |
107371 |
1.054 |
134223 |
0 |
134223 |
1.318 |
0.264 |
|
Clearing members |
14119 |
0 |
14119 |
0.139 |
42503 |
0 |
42503 |
0.417 |
0.279 |
|
Sub-Total (B)(2) |
3080581 |
1083 |
3081664 |
30.264 |
3076298 |
783 |
3077081 |
30.219 |
(0.045) |
|
Total Shareholding of Public (B)=(B)(1) (B)(2) |
3080581 |
1083 |
3081664 |
30.264 |
3076298 |
783 |
3077081 |
30.219 |
(0.045) |
|
C. Shares held by custodian for GDRs & ADRs |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
Grand Total (A B C) |
10181423 |
1083 |
10182506 |
100.000 |
10177140 |
783 |
10177923 |
99.955 |
(0.045) |
(ii) Shareholding of Promoters:
|
|
|
Shareholding at the beginning of the year |
Shareholding at the end of the year |
|
||||
|
SI.No. |
Name of the Shareholder |
No. of Shares |
% of total Shares of the Company |
% of Shares Pledged / encumbered to total shares |
No. of Shares |
% of total Shares of the Company |
% of Shares Pledged /encumbered to total shares |
% of Change during the Year |
|
1 |
Y.S.R. VenkataRao |
6904715 |
67.810 |
20.920 |
6904715 |
67.810 |
20.920 |
0 |
|
2 |
Y LalithyaPoorna |
110000 |
1.080 |
0 |
110000 |
1.080 |
0 |
0 |
|
3 |
Y.S.R. Krishna Rao |
56500 |
0.555 |
0 |
56500 |
0.555 |
0 |
0 |
|
4 |
Y. Krishna Veni |
28994 |
0.285 |
0 |
28994 |
0.285 |
0 |
0 |
|
5 |
CDC Industrial Infras Ltd |
633 |
0.006 |
0 |
633 |
0.006 |
0 |
0 |
|
|
Total |
7100842 |
69.736 |
20.920 |
7100842 |
69.736 |
20.920 |
|
(Hi) Change in Promoters'' Shareholding (please specify, if there is no change): no changes
|
|
|
Shareholding at the beginning of the year |
Cumulative Shareholding during the year |
||
|
SI.NO. |
Name of the Shareholder |
No of shares |
% of total shares of the Company |
No of shares |
% of total shares of the Company |
|
|
NIL |
|
|
|
|
(iv) Shareholding Pattern of top ten Shareholders (other than Directors, Promoters and Holders of GDRs and ADRs):
|
|
|
Shareholding at the beginning of the year |
Cumulative Shareholding during the year |
||
|
SI.No. |
Name of the Shareholder |
No of shares |
% of total shares of the Company |
No of shares |
% of total shares of the Company |
|
1 |
INDRAJITSINH PRABHATSINH DABHI |
|
|
|
|
|
|
At the beginning of the year 01-Apr-2017 |
55000 |
0.5401 |
55000 |
0.5401 |
|
|
Purchase 14-Jul-2017 |
10000 |
0.0982 |
65000 |
0.6383 |
|
|
Sale 16-Feb-2018 |
-2000 |
0.0196 |
63000 |
0.6187 |
|
|
At the end of the Year 31-Mar-2018 |
63000 |
0.6187 |
63000 |
0.6187 |
|
2 |
NEETA MANOJ RUPAREL |
|
|
|
|
|
|
At the beginning of the year 01-Apr-2017 |
51000 |
0.5008 |
51000 |
0.5008 |
|
|
Purchase 14-Apr-2017 |
2250 |
0.0220 |
53250 |
0.5229 |
|
|
Sale 23-Jun-2017 |
-250 |
0.0024 |
53000 |
0.5205 |
|
|
Purchase 08-Sep-2017 |
2885 |
0.0283 |
55885 |
0.5488 |
|
|
Purchase 15-Sep-2017 |
12115 |
0.1189 |
68000 |
0.6678 |
|
|
Purchase 22-Sep-2017 |
2000 |
0.0196 |
70000 |
0.6874 |
|
|
Purchase 27-Oct-2017 |
4000 |
0.0392 |
74000 |
0.7267 |
|
|
Purchase 17-Nov-2017 |
5000 |
0.0491 |
79000 |
0.7758 |
|
|
Purchase 08-Dec-2017 |
2000 |
0.0196 |
81000 |
0.7954 |
|
|
Purchase 22-Dec-2017 |
6000 |
0.0589 |
87000 |
0.8544 |
|
|
Purchase 12-Jan-2018 |
3000 |
0.0294 |
90000 |
0.8838 |
|
|
Purchase 19-Jan-2018 |
1000 |
0.0098 |
91000 |
0.8936 |
|
|
Purchase 25-Jan-2018 |
4000 |
0.0392 |
95000 |
0.9329 |
|
|
At the end of the Year 31-Mar-2018 |
95000 |
0.9329 |
95000 |
0.9329 |
|
3 |
DARSHANA JIGNESH KOTHARI JT1 : NEETAMANOJ RUPAREL |
|
|
|
|
|
|
At the beginning of the year 01-Apr-2017 |
50000 |
0.4910 |
50000 |
0.4910 |
|
|
Purchase 14-Apr-2017 |
3250 |
0.0319 |
53250 |
0.5229 |
|
|
Sale 23-Jun-2017 |
-250 |
0.0024 |
53000 |
0.5205 |
|
|
Purchase 27-Oct-2017 |
17000 |
0.1669 |
70000 |
0.6874 |
|
|
Purchase 01-Dec-2017 |
9000 |
0.0883 |
79000 |
0.7758 |
|
|
Purchase 15-Dec-2017 |
2000 |
0.0196 |
81000 |
0.7954 |
|
|
Purchase 22-Dec-2017 |
6000 |
0.0589 |
87000 |
0.8544 |
|
|
Purchase 12-Jan-2018 |
3000 |
0.0294 |
90000 |
0.8838 |
|
|
Purchase 25-Jan-2018 |
4751 |
0.0466 |
94751 |
0.9305 |
|
|
Purchase 02-Feb-2018 |
249 |
0.0024 |
95000 |
0.9329 |
|
|
At the end of the Year 31-Mar-2018 |
95000 |
0.9329 |
95000 |
0.9329 |
|
4 |
GEECY ENGINEERING PRIVATE LIMITED |
|
|
|
|
|
|
At the beginning of the year 01-Apr-2017 |
40700 |
0.3997 |
40700 |
0.3997 |
|
|
Purchase 14-Apr-2017 |
2884 |
0.0283 |
43584 |
0.4280 |
|
|
Sale 21-Apr-2017 |
-184 |
0.0018 |
43400 |
0.4262 |
|
|
Purchase 21-Jul-2017 |
1600 |
0.0157 |
45000 |
0.4419 |
|
|
Purchase 06-Oct-2017 |
10250 |
0.1006 |
55250 |
0.5425 |
|
|
Purchase 01-Dec-2017 |
6750 |
0.0662 |
62000 |
0.6088 |
|
|
Purchase 29-Dec-2017 |
1000 |
0.0098 |
63000 |
0.6187 |
|
|
Purchase 12-Jan-2018 |
2000 |
0.0196 |
65000 |
0.6383 |
|
|
Purchase 25-Jan-2018 |
4000 |
0.0392 |
69000 |
0.6776 |
|
|
At the end of the Year 31-Mar-2018 |
69000 |
0.6776 |
69000 |
0.6776 |
|
*5 |
BALACHANDRAN C |
|
|
|
|
|
|
At the beginning of the year 01-Apr-2017 |
40000 |
0.3928 |
40000 |
0.3928 |
|
|
Sale 22-Dec-2017 |
-17000 |
0.1669 |
23000 |
0.2258 |
|
|
Sale 12-Jan-2018 |
-2000 |
0.0196 |
21000 |
0.2062 |
|
|
Sale 19-Jan-2018 |
-50 |
0.0004 |
20950 |
0.2057 |
|
|
Sale 25-Jan-2018 |
-1169 |
0.0114 |
19781 |
0.1942 |
|
|
Sale 09-Feb-2018 |
-7516 |
0.0738 |
12265 |
0.1204 |
|
|
Sale 16-Feb-2018 |
-7000 |
0.0687 |
5265 |
0.0517 |
|
|
Sale 23-Feb-2018 |
-1468 |
0.0144 |
3797 |
0.0372 |
|
|
Sale 09-Mar-2018 |
-3000 |
0.0294 |
797 |
0.0078 |
|
|
At the end of the Year 31-Mar-2018 |
797 |
0.0078 |
797 |
0.0078 |
|
*6 |
BABALBHAI MANILAL PATEL |
|
|
|
|
|
|
At the beginning of the year 01-Apr-2017 |
37824 |
0.3714 |
37824 |
0.3714 |
|
|
Sale 07-Apr-2017 |
-2104 |
0.0206 |
35720 |
0.3507 |
|
|
Sale 14-Apr-2017 |
-1000 |
0.0098 |
34720 |
0.3409 |
|
|
Sale 12-May-2017 |
-1000 |
0.0098 |
33720 |
0.3311 |
|
|
Sale 19-May-2017 |
-2550 |
0.0250 |
31170 |
0.3061 |
|
|
Sale 14-Jul-2017 |
-175 |
0.0017 |
30995 |
0.3043 |
|
|
Sale 21-Jul-2017 |
-350 |
0.0034 |
30645 |
0.3009 |
|
|
Sale 04-Aug-2017 |
-650 |
0.0063 |
29995 |
0.2945 |
|
|
Sale 11-Aug-2017 |
-292 |
0.0028 |
29703 |
0.2917 |
|
|
Sale 01-Sep-2017 |
-9983 |
0.0980 |
19720 |
0.1936 |
|
|
Sale 08-Sep-2017 |
-4600 |
0.0451 |
15120 |
0.1484 |
|
|
Sale 15-Sep-2017 |
-900 |
0.0088 |
14220 |
0.1396 |
|
|
Sale 22-Sep-2017 |
-1000 |
0.0098 |
13220 |
0.1298 |
|
|
Sale 29-Sep-2017 |
-1000 |
0.0098 |
12220 |
0.1200 |
|
|
Sale 06-Oct-2017 |
-5 |
0.0000 |
12215 |
0.1199 |
|
|
Purchase 13-Oct-2017 |
5 |
0.0000 |
12220 |
0.1200 |
|
|
Sale 27-Oct-2017 |
-500 |
0.0049 |
11720 |
0.1150 |
|
|
Sale 17-Nov-2017 |
-1000 |
0.0098 |
10720 |
0.1052 |
|
|
Purchase 01-Dec-2017 |
1000 |
0.0098 |
11720 |
0.1150 |
|
|
Sale 12-Jan-2018 |
-1000 |
0.0098 |
10720 |
0.1052 |
|
|
Sale 19-Jan-2018 |
-1220 |
0.0119 |
9500 |
0.0932 |
|
|
Sale 25-Jan-2018 |
-500 |
0.0049 |
9000 |
0.0883 |
|
|
At the end of the Year 31-Mar-2018 |
9000 |
0.0883 |
9000 |
0.0883 |
|
*7 |
MOKSHA BHARAT SHAH |
|
|
|
|
|
|
At the beginning of the year 01-Apr-2017 |
23980 |
0.2355 |
23980 |
0.2355 |
|
|
Sale 28-Apr-2017 |
-3980 |
0.0390 |
20000 |
0.1964 |
|
|
Sale 22-Dec-2017 |
-10000 |
0.0982 |
10000 |
0.0982 |
|
|
Sale 29-Dec-2017 |
-10000 |
0.0982 |
0 |
0.0000 |
|
|
At the end of the Year 31-Mar-2018 |
0 |
0.0000 |
0 |
0.0000 |
|
*8 |
R. K. STOCKHOLDING PVT LTD |
|
|
|
|
|
|
At the beginning of the year 01-Apr-2017 |
23000 |
0.2258 |
23000 |
0.2258 |
|
|
Sale 16-Feb-2018 |
-3700 |
0.0363 |
19300 |
0.1895 |
|
|
Sale 09-Mar-2018 |
-3656 |
0.0359 |
15644 |
0.1536 |
|
|
Sale 16-Mar-2018 |
-15644 |
0.1536 |
0 |
0.0000 |
|
|
At the end of the Year 31-Mar-2018 |
0 |
0.0000 |
0 |
0.0000 |
|
|
HAVING SAME PAN |
|
|
|
|
|
*8 |
R K STOCKHOLDING PVT. LTD |
|
|
|
|
|
|
At the beginning of the year 01-Apr-2017 |
619 |
0.0060 |
619 |
0.0060 |
|
|
Sale 05-May-2017 |
-100 |
0.0009 |
519 |
0.0050 |
|
|
Sale 23-Jun-2017 |
-10 |
0.0000 |
509 |
0.0049 |
|
|
Sale 25-Aug-2017 |
-10 |
0.0000 |
499 |
0.0049 |
|
|
Sale 29-Dec-2017 |
-10 |
0.0000 |
489 |
0.0048 |
|
|
Purchase 19-Jan-2018 |
3303 |
0.0324 |
3792 |
0.0372 |
|
|
Sale 16-Feb-2018 |
-384 |
0.0037 |
3408 |
0.0334 |
|
|
Sale 16-Mar-2018 |
-3303 |
0.0324 |
105 |
0.0010 |
|
|
At the end of the Year 31-Mar-2018 |
105 |
0.0010 |
105 |
0.0010 |
|
|
HAVING SAME PAN |
|
|
|
|
|
*8 |
R.K.STOCKHOLDING (P) LTD. |
|
|
|
|
|
|
At the beginning of the year 01-Apr-2017 |
0 |
0.0000 |
0 |
0.0000 |
|
|
Purchase 16-Mar-2018 |
3 |
0.0000 |
3 |
0.0000 |
|
|
At the end of the Year 31-Mar-2018 |
3 |
0.0000 |
3 |
0.0000 |
|
9 |
BANSURI POLY PACK PRIVATE LIMITED |
|
|
|
|
|
|
At the beginning of the year 01-Apr-2017 |
20000 |
0.1964 |
20000 |
0.1964 |
|
|
At the end of the Year 31-Mar-2018 |
20000 |
0.1964 |
20000 |
0.1964 |
|
*10 |
MONIKA CHOPRA |
|
|
|
|
|
|
At the beginning of the year 01-Apr-2017 |
18266 |
0.1793 |
18266 |
0.1793 |
|
|
Sale 16-Feb-2018 |
-500 |
0.0049 |
17766 |
0.1744 |
|
|
At the end of the Year 31-Mar-2018 |
17766 |
0.1744 |
17766 |
0.1744 |
|
#11 |
BHARAT HIRALAL SHAH |
|
|
|
|
|
|
At the beginning of the year 01-Apr-2017 |
2000 |
0.0196 |
2000 |
0.0196 |
|
|
Sale 14-Apr-2017 |
-2000 |
0.0196 |
0 |
0.0000 |
|
|
Purchase 19-May-2017 |
2053 |
0.0201 |
2053 |
0.0201 |
|
|
Sale 26-May-2017 |
-2053 |
0.0201 |
0 |
0.0000 |
|
|
Purchase 23-Jun-2017 |
500 |
0.0049 |
500 |
0.0049 |
|
|
Sale 01-Sep-2017 |
-400 |
0.0039 |
100 |
0.0009 |
|
|
Sale 22-Sep-2017 |
-100 |
0.0009 |
0 |
0.0000 |
|
|
Purchase 15-Dec-2017 |
200 |
0.0019 |
200 |
0.0019 |
|
|
Sale 22-Dec-2017 |
-200 |
0.0019 |
0 |
0.0000 |
|
|
Purchase 02-Feb-2018 |
13558 |
0.1331 |
13558 |
0.1331 |
|
|
Purchase 09-Mar-2018 |
29232 |
0.2870 |
42790 |
0.4202 |
|
|
Purchase 16-Mar-2018 |
3100 |
0.0304 |
45890 |
0.4506 |
|
|
Purchase 30-Mar-2018 |
5200 |
0.0510 |
51090 |
0.5017 |
|
|
At the end of the Year 31-Mar-2018 |
51090 |
0.5017 |
51090 |
0.5017 |
|
#12 |
EMKAY GLOBAL FINANCIAL SERVICES LTD |
|
|
|
|
|
|
At the beginning of the year 01-Apr-2017 |
0 |
0.0000 |
0 |
0.0000 |
|
|
Purchase 14-Apr-2017 |
360 |
0.0035 |
360 |
0.0035 |
|
|
Sale 21-Apr-2017 |
-360 |
0.0035 |
0 |
0.0000 |
|
|
Purchase 28-Apr-2017 |
190 |
0.0018 |
190 |
0.0018 |
|
|
Sale 05-May-2017 |
-190 |
0.0018 |
0 |
0.0000 |
|
|
Purchase 12-May-2017 |
106 |
0.0010 |
106 |
0.0010 |
|
|
Sale 19-May-2017 |
-106 |
0.0010 |
0 |
0.0000 |
|
|
Purchase 25-Jan-2018 |
250 |
0.0024 |
250 |
0.0024 |
|
|
Sale 02-Feb-2018 |
-250 |
0.0024 |
0 |
0.0000 |
|
|
Purchase 16-Feb-2018 |
300 |
0.0029 |
300 |
0.0029 |
|
|
Sale 23-Feb-2018 |
-300 |
0.0029 |
0 |
0.0000 |
|
|
Purchase 30-Mar-2018 |
10488 |
0.1030 |
10488 |
0.1030 |
|
|
Purchase 31-Mar-2018 |
14115 |
0.1386 |
24603 |
0.2416 |
|
|
At the end of the Year 31-Mar-2018 |
24603 |
0.2416 |
24603 |
0.2416 |
|
|
HAVING SAME PAN |
|
|
|
|
|
#12 |
EMKAY GLOBAL FINANCIAL SERVICES LIMITED |
|
|
|
|
|
|
At the beginning of the year 01-Apr-2017 |
6386 |
0.0627 |
6386 |
0.0627 |
|
|
Purchase 07-Apr-2017 |
350 |
0.0034 |
6736 |
0.0661 |
|
|
Sale 14-Apr-2017 |
-2786 |
0.0273 |
3950 |
0.0387 |
|
|
Sale 21-Apr-2017 |
-550 |
0.0054 |
3400 |
0.0333 |
|
|
Sale 28-Apr-2017 |
-1900 |
0.0186 |
1500 |
0.0147 |
|
|
Purchase 12-May-2017 |
1551 |
0.0152 |
3051 |
0.0299 |
|
|
Purchase 19-May-2017 |
1446 |
0.0142 |
4497 |
0.0441 |
|
|
Sale 26-May-2017 |
-747 |
0.0073 |
3750 |
0.0368 |
|
|
Purchase 02-Jun-2017 |
5900 |
0.0579 |
9650 |
0.0947 |
|
|
Sale 16-Jun-2017 |
-6000 |
0.0589 |
3650 |
0.0358 |
|
|
Sale 23-Jun-2017 |
-2800 |
0.0274 |
850 |
0.0083 |
|
|
Purchase 30-Jun-2017 |
160 |
0.0015 |
1010 |
0.0099 |
|
|
Purchase 07-Jul-2017 |
1790 |
0.0175 |
2800 |
0.0274 |
|
|
Purchase 14-Jul-2017 |
851 |
0.0083 |
3651 |
0.0358 |
|
|
Sale 21-Jul-2017 |
-1853 |
0.0181 |
1798 |
0.0176 |
|
|
Purchase 18-Aug-2017 |
402 |
0.0039 |
2200 |
0.0216 |
|
|
Sale 25-Aug-2017 |
-290 |
0.0028 |
1910 |
0.0187 |
|
|
Sale 01-Sep-2017 |
-1910 |
0.0187 |
0 |
0.0000 |
|
|
Purchase 08-Sep-2017 |
500 |
0.0049 |
500 |
0.0049 |
|
|
Sale 15-Sep-2017 |
-500 |
0.0049 |
0 |
0.0000 |
|
|
Purchase 22-Dec-2017 |
50 |
0.0004 |
50 |
0.0004 |
|
|
Purchase 29-Dec-2017 |
11417 |
0.1121 |
11467 |
0.1126 |
|
|
Purchase 05-Jan-2018 |
4176 |
0.0410 |
15643 |
0.1536 |
|
|
Purchase 12-Jan-2018 |
42796 |
0.4202 |
58439 |
0.5739 |
|
|
Sale 19-Jan-2018 |
-12844 |
0.1261 |
45595 |
0.4477 |
|
|
Purchase 25-Jan-2018 |
37315 |
0.3664 |
82910 |
0.8142 |
|
|
Sale 02-Feb-2018 |
-16829 |
0.1652 |
66081 |
0.6489 |
|
|
Purchase 09-Feb-2018 |
31559 |
0.3099 |
97640 |
0.9588 |
|
|
Sale 16-Feb-2018 |
-29030 |
0.2850 |
68610 |
0.6738 |
|
|
Purchase 23-Feb-2018 |
17774 |
0.1745 |
86384 |
0.8483 |
|
|
Purchase 02-Mar-2018 |
15902 |
0.1561 |
102286 |
1.0045 |
|
|
Sale 09-Mar-2018 |
-88260 |
0.8667 |
14026 |
0.1377 |
|
|
Sale 16-Mar-2018 |
-11663 |
0.1145 |
2363 |
0.0232 |
|
|
Purchase 23-Mar-2018 |
22217 |
0.2181 |
24580 |
0.2413 |
|
|
Sale 30-Mar-2018 |
-21108 |
0.2072 |
3472 |
0.0340 |
|
|
At the end of the Year 31-Mar-2018 |
3472 |
0.0340 |
3472 |
0.0340 |
|
|
HAVING SAME PAN |
|
|
|
|
|
#12 |
EMKAY GLOBAL FINANCIAL SERVICES LTD |
|
|
|
|
|
|
At the beginning of the year 01-Apr-2017 |
0 |
0.0000 |
0 |
0.0000 |
|
|
Purchase 07-Apr-2017 |
50 |
0.0004 |
50 |
0.0004 |
|
|
Purchase 14-Apr-2017 |
790 |
0.0077 |
840 |
0.0082 |
|
|
Sale 21-Apr-2017 |
-840 |
0.0082 |
0 |
0.0000 |
|
|
Purchase 14-Jul-2017 |
25 |
0.0002 |
25 |
0.0002 |
|
|
Sale 21-Jul-2017 |
-25 |
0.0002 |
0 |
0.0000 |
|
|
Purchase 19-Jan-2018 |
50 |
0.0004 |
50 |
0.0004 |
|
|
Sale 25-Jan-2018 |
-50 |
0.0004 |
0 |
0.0000 |
|
|
Purchase 09-Feb-2018 |
4000 |
0.0392 |
4000 |
0.0392 |
|
|
Sale 16-Feb-2018 |
-4000 |
0.0392 |
0 |
0.0000 |
|
|
Purchase 09-Mar-2018 |
2000 |
0.0196 |
2000 |
0.0196 |
|
|
Sale 16-Mar-2018 |
-2000 |
0.0196 |
0 |
0.0000 |
|
|
Purchase 30-Mar-2018 |
7012 |
0.0688 |
7012 |
0.0688 |
|
|
Purchase 31-Mar-2018 |
4185 |
0.0410 |
11197 |
0.1099 |
|
|
At the end of the Year 31-Mar-2018 |
11197 |
0.1099 |
11197 |
0.1099 |
|
#13 |
VINOD FOJMALJI KOTHARI HUF . |
|
|
|
|
|
|
At the beginning of the year 01-Apr-2017 |
0 |
0.0000 |
0 |
0.0000 |
|
|
Purchase 09-Mar-2018 |
21800 |
0.2140 |
21800 |
0.2140 |
|
|
At the end of the Year 31-Mar-2018 |
21800 |
0.2140 |
21800 |
0.2140 |
|
#14 |
SNEH GIRISH CHHADUA |
|
|
|
|
|
|
At the beginning of the year 01-Apr-2017 |
0 |
0.0000 |
0 |
0.0000 |
|
|
Purchase 14-Apr-2017 |
3000 |
0.0294 |
3000 |
0.0294 |
|
|
Purchase 19-May-2017 |
1 |
0.0000 |
3001 |
0.0294 |
|
|
Purchase 16-Jun-2017 |
6500 |
0.0638 |
9501 |
0.0933 |
|
|
Sale 01-Sep-2017 |
-9501 |
0.0933 |
0 |
0.0000 |
|
|
Purchase 29-Dec-2017 |
4700 |
0.0461 |
4700 |
0.0461 |
|
|
Sale 12-Jan-2018 |
-4700 |
0.0461 |
0 |
0.0000 |
|
|
Purchase 16-Feb-2018 |
3693 |
0.0362 |
3693 |
0.0362 |
|
|
Purchase 23-Feb-2018 |
2000 |
0.0196 |
5693 |
0.0559 |
|
|
Purchase 30-Mar-2018 |
15307 |
0.1503 |
21000 |
0.2062 |
|
|
At the end of the Year 31-Mar-2018 |
21000 |
0.2062 |
21000 |
0.2062 |
|
#15 |
MONIKA SUNIL KHATWANI |
|
|
|
|
|
|
At the beginning of the year 01-Apr-2017 |
0 |
0.0000 |
0 |
0.0000 |
|
|
Purchase 29-Dec-2017 |
3058 |
0.0300 |
3058 |
0.0300 |
|
|
Purchase 09-Mar-2018 |
16942 |
0.1663 |
20000 |
0.1964 |
|
|
Purchase 30-Mar-2018 |
1000 |
0.0098 |
21000 |
0.2062 |
|
|
At the end of the Year 31-Mar-2018 |
21000 |
0.2062 |
21000 |
0.2062 |
* Ceased to be in the list of Top 10 shareholders as on 31/03/2018. The same has been reflected above since the shareholder was one of the Top 10 shareholders as on 01/04/2017.
# Not in the list of Top 10 shareholders as on 01/04/2017. The same has been reflected above since the shareholder was one of the Top 10 shareholders as on 31/03/2018.
Mar 31, 2017
To,
The Members,
Alkali Metals Limited
The Directors have pleasure in presenting the 49th Annual Report on the business and operations of Company and the accounts for the Financial Year ended 3st M arch, 2017.
1. Financial Summary or Highlights/Performance of the Company
The performance of the company for the financial year ended 31st March, 2017 is summarized as below:
|
(All figures in INR) |
||
|
2016-17 |
2015-16 |
|
|
Net Turnover |
580,634,493 |
732,815,895 |
|
Profit/(Loss) before finance charges, depreciation and taxation |
71,766,857 |
101796,039 |
|
Less : Finance Charges |
28,077,553 |
34,364,20 |
|
Depreciation and Amortization expense |
36,961,017 |
37,529,881 |
|
Profit/(Loss) before exceptional items and tax |
6,728,287 |
29,901948 |
|
Less: Exceptional items |
2,876,238 |
38488 |
|
Extraordinary Items |
0 |
0 |
|
Profit/(Loss) before tax |
3,852,049 |
29,863,459 |
|
Less : Current Year''s tax (MAT) |
670,730 |
623871 |
|
MAT Credit Entitlement |
(670,730) |
(6,238,7) |
|
Previous Years |
324,088 |
7,31139 |
|
Deferred tax (AS22) |
0 |
0 |
|
Profit/(Loss) After tax |
3,527,961 |
22,552320 |
|
Add: Balance Brought forward |
61,894,458 |
54,048,648 |
|
Less: Interim Dividend paid |
0 |
8,146,005 |
|
Tax on Interim Dividend |
0 |
1658,3 35 |
|
Proposed Dividend |
5,091,253 |
4,073,002 |
|
Tax on Proposed Dividend |
1,036,459 |
829,168 |
|
Transfer to General Reserve |
0 |
0 |
|
Balance surplus carried to Balance Sheet |
59,294,707 |
61894,458 |
2. Dividend
Dividend of IN R 0.50 per equity share of INR. 10- each has been recommended by the Board of Directors for the year ended 31st March, 2017 subject to the approval of the shareholders at the ensuing Annual General Meeting. Dividend if approved will be paid within 30 days of the Annual General Meeting.
3. Reserves
During the year under review, company had not transferred any amount to General Reserves.
4. Brief description of the Companyâs performance during the year
During the year 2016-17, the Company recorded at turnover of INR 580.63 Million compared to the turnover of INR 732.81 Million during 2015-16. Net Profit during the year 2016-17 is INR 3.5 Million compared to Net Profit of INR 23 Million achieved during 2015-16.
The Reduction in turnover and margins are mainly due to temporary slowdown in the Pharma Industry Company had taken appropriate measures to control the thereby achieved the marginal profit during the year even after the reduction of turnover.
Your Directors are confident that company will able to achieve better turnover and margins in the come year.
SIGNIFICANT ACHIEVEMENT
Company is a regular foreign exchange earner; the following are the details of the Net foreign exchange earnings for the last 3 years.
(All figures in INR)
|
2014-15 |
2015-16 |
2016-17 |
|
175.3 Million |
226.8 Million |
153.6 Million |
5. Future outlook
Your company plans to focus on campaign products in addition to increase the sales volumes of commercial products which will help to improve the profitability in the current financial year. Also, the companies expects to commercialize some R&D products which will benefit the company in the long run. Further, the company plans to implement various marketing strategies to counter the competition from other manufacturers.
6. Research & Development
The company has spent INR H64 Million towards Research and Development during the financial year and is putting continuous efforts in R&D to dépêche new products and process for optimum material consumptions by effective yield.
The revenues generated by the R&D products for the last 3 years are
(All figures in INR)
|
2014-15 |
2015-16 |
2016-17 |
|
52.5 Million |
69.1 Million |
11.3 Million |
7. Change in the nature of business, if any
Company had not changed its nature of business during the year under review.
8. Material changes and commitments after the closure of financial year
Company had not faced any Material changes sub requiem the closure of the financial year, which will affect the financial position or operations of the Company.
9. Significant and Material Orders
There are no significant and material orders passed by the regulators or court or tribunals impacting going concern status and Company operations in future.
10. Internal Financial Controls
Your company had adequate internal controls and such procedures adopted by the Company for ensuring the orderly and efficient conduct of its business, including safeguarding of all its assets and prevention/detection of frauds and errors, accuracy and completeness of accounting records.
Auditors have verified the internal financial contends sestet the adequacy and the procedures adopted by the company and confirm that the controls are adequate the size of the transactions. The management reviews and monitors the controls and process on a regular basis.
11. Risk Management
The Management of the Company will take adequate steps in identifying, assessing, controlling and mitigating the risks associated with deficit areas of its business operations.
12. Details of Subsidiary/Joint Ventures/Associate Companies
Your company had no subsidiaries, Joint Ventures and associate companies during the financial year under review.
13. Deposits
Your company has not accepted any deposits covered under chapter V of the Companies Act2® during the year under review and also no outstanding at the beginning of the financial year.
14. Auditors
Statutory Auditors
M/s. C K S Associates, Statutory Auditors were appointed as auditors of the Company at the Annual Gen Meeting held on 21st August 2014 for a period of 5 years i.e up to year 2019. As per the provision of the Companies Act, 2013, the appointment of statutory auditors has to be ratified every year. Accordingly, it is proposed to ratify the appointment at the ensuing Annual General Meeting.
Internal Auditors
The Board of directors of the company has appointed M/s. Ramakrishna & Associates, Charterer Accountants as Internal Auditors to conduct the Internal Audit of the company for the financial year en 31st March, 207.
S ecr et ar ial Audit or s
The Board of directors of the company has aped CS B. Venkatesh Babu, Practicing Company Secretary as Secretarial Auditor to conduct Secretarial Audit of the company for the financial year en 3st March, 207.
15. Share Capital
Your Company had not issued and raised any share capital including sweat equity, employee stock options during the financial year under review. Your company has also not provided any money for purchase of it own shares by employees or for the benefit of employees.
16. Extract of the annual return
The extract of the annual return in Form MG Ten closed as Annexure -1 and shall form part of the Boards report.
17. Conservation of energy, technology absorption and foreign exchange earnings and outgo
The details of conservation of energy, technology absorption, foreign exchange earnings and outgo have been provided in Annexure - 2 and shall form part of this report.
18. Corporate Social Responsibility (CSR)
Your company is not covered under the provisions of Corporate Social Responsibility. However the company realizes its Social Responsibility and, there for providing the free medical help to the poor people and financial assistance to the poor students through a Charitable Trust run by the promoters.
19. Directors
Since the last annual general meeting there is no change Board of Directors of the Company.
Mr. Y.V.Pr ashanth, Director will retire by rotation at the ensuring annual general meeting and, be: eligible, offers himself for reappointment. Details of no. of Board meetings are covered under the Corpora Governance section.
Declaration by an Independent Director
Company had received the declaration by an Independent Director(s) that he/they meet the criteria of independence as per the provisions of Section 149 of the Companies Act, 2013
Formal Annual Evaluation
Pursuant to the provisions of the Companies Act, 2013 the Board has devised a policy on evaluation of performance of Board of Directors, Committees and Directors. Accordingly, the Chairman of the Nomination and Remuneration Committee obtained from all the board members duly filled in evaluation templates for evaluation of the Board as a when Collocation of the committee and peer evaluation. The summary of the evaluation reports were present perceive Committees and the Board for their consideration.
20. Key Managerial Persons:
During the year under review Mr. M. Karunakar Reddy, Company Secretary and Compliance officer resigned from the Company. Company has appointed Ms. M. Neeharika as Company Secretary an Compliance officer in the current year 2017-18, in compliance with the provisions of the Companies Act, 2013.
21. Directorâs Responsibility Statement
As per the provisions of clause (c) of sub-section (3) of Section 134 of the Companies Act, 2013, your Directors shall state that -
(a) in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;
(b) the directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit or loss of the company that period;
(c) the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the asset of the company and for preventing and detecting fraud and other irregularities;
(d) the directors have prepared the annual accounts on a going concern basis; and
(e) the directors, have laid down internal financial controls to be followed by the company and that such internal financial controls are adepter and were operating effectively.
(f) the directors have devised proper systems torn compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.
22. Committees
Your company has Audit Committee, Nomination and Remuneration Committee and Stakeholders Relationship Committee and the details are provided in the Corporate Governance section.
23. Vigil mechanism for Directors and Employees
The company believes in the standard of conduct which all employees are expected to observe in their business endeavors. The Code (Vigil Mechanism) reflects the Companyâs commitment to principles of integrity, transparency and fairness. The copy other of Vigil Mechanism is available on the Company website www.alkalimetals.com under Investors tab.
The Company has adopted a Whistle Blower Policy, as part of vigil mechanism to provide appropriate avenues to the Directors and employees to bring to the attention of the management any issue which perceived to be in violation of or in conflict with the fundamental business principles of the Company. The employees are encouraged to voice their concerns by way of whistle blowing and all the employees have been given access to the Audit Committee.
The Executive Director Mr.Y.V.PRASHANTH is designated as ombudsperson to deal with all t complaints registered under the policy.
24. Policy on Sexual Harassment
Company had adopted policy on Prevention of Seals Harassment of Women at Workplace in accordance with The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 During the year there were no complaints/incident of harassment.
25. Particulars of loans, guarantees or investments
The Company had not given any loans, guarantees or made investments as per the provisions of section 186 of the Companies Act, 2013 during the financial year under review and also there are no outstanding amounts of loans given, guarantees provided and/or investments made at the beginning of the year.
26. Particulars of contracts or arrangements with related parties
The Company had not entered into any contract or arrangements with related parties referred to in s section (1) of section 188 of the Companies Act, 2013 including certain arms length transactions under third proviso thereto.
The Company has formulated a policy on materiality of Related Party Transactions and dealing with Related Party Transactions which can be accessed at the Company we''wwealkalimetals.com under Investors tab.
27. Managerial Remuneration/Employee Details
The Details required to be provided pursuant to Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are enclosed as Annexure -3 and the same form part o the Directors Report.
There are no employees in the company in receipt of amounts covered in rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.
28. Secretarial Audit Report
A Secretarial Audit Report given by CS B. Venkat Babu, Company Secretary Practice is enclosed as Annexure -4 and the same forms part of this report.
29. Corporate Governance/Management Discussion and Analysis
In terms of Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements )Regulation 2013,a Report on Corporate Governance along with Compliance Certificate issued by Statutory Auditors of the Company and also the Management Discussion and Analysis report is annexed to this Annual Report and forms integral part of this Report.
30. Insurance
All the properties and insurable interests of the Company including building, plant and machinery and stocks have been adequately insured.
31. Listing on Stock Exchanges
The securities of the company are continued to BSE and NSE. The listing fees for these stock exchanges is paid for the current year.
32. Cost Audit
Pursuant to provisions of section 48 of the Companies Act, 2013 read with Companies (Cost Records and Audit) Rules, 2014 cost audit is not applicable for the financial year 2016-17 for the Company.
33. Acknowledgements
Your Directors express their gratitude to all stakeholders, bankers, Regulatory Authorities, Government customers, suppliers, business associates, from India abroad, staff and workers for their continued support at all times and look forward to have the same in our future endeavors. Directors are pleased record their appreciation of the sincere and dedicated services of the employees and workmen at all levels.
Your Directors look forward to the long term future with confidence
For and on behalf of Board of Directors
Alkali Metals Limited
Y.S .R. VENKATA RAO DR. J.S. YADAV
Place : Hyderabad MANAGING DIRECTOR CHAIRMAN
Date : 15-05-2017 DIN : 00345524 DIN : 02014136
Mar 31, 2016
To,
The Members,
Alkali Metals Limited
The Directors have pleasure in presenting tltfeA8inual Report on the business and operations of the Company and the accounts for the Financial Year ended March, 2016.
1 Financial summary or highlights/Performance of the Company
The performance of the company for the financial year ended/March, 2016 is summarized as below:
|
(All figures in Rs.) |
||
|
2015-16 |
2014-15 |
|
|
Net Turnover |
732,815,895 |
684394228 |
|
Profit/(Loss) before finance charges, depreciation and taxation |
101,757,550 |
101512407 |
|
Less : Finance Charges |
34,364,210 |
45,002,861 |
|
Depreciation and Amortization expense |
37,529,881 |
42,730767 |
|
Profit/(Loss) before exceptional items and tax |
29,863,459 |
13,778,779 |
|
Less: Exceptional items |
-- |
7,33,03,52 |
|
Extraordinary Items |
-- |
3,407,658 |
|
Profit/(Loss) before tax |
29,863,459 |
3,040769 |
|
Less : Current Year''s tax (MAT) |
6,238,171 |
579,419 |
|
MAT Credit Entitlement |
(6,238,171) |
(579,49) |
|
Previous Years |
7,311,139 |
20,1884 |
|
Deferred tax (AS22) |
-- |
-- |
|
Profit/(Loss) After tax |
22,552,320 |
2,83,8,885 |
|
Add: Balance Brought forward |
54,048,648 |
68,628,281 |
|
Less: Interim Dividend paid |
8,146,005 |
-- |
|
Tax on Interim Dividend |
1,658,335 |
-- |
|
Proposed Dividend |
4,073,002 |
-- |
|
Tax on Proposed Dividend |
829,168 |
-- |
|
Transfer to General Reserve |
-- -- |
|
|
Adjusted for Depreciation as per new regulations |
-- 17,418,518 |
|
|
Balance surplus carried to Balance Sheet |
61,894,458 |
54,048,648 |
2. Dividend
Final dividend of 0.40 per equity share off 10/- each has been recommended by the Board of Directors for the year ended 31st March, 2013 subject to the approval of the shareholders at the ensuing Annual General Meeting, in addition to the interim dividend at the rate 80fper equity share off 10/- each was declared on 23.01.2013 and paid accordingly. Final Dividend if approved, will be paid within B0 days of the Annual General Meeting.
3. Reserves
During the year under review, company had nattered any amount to General Reserves.
4. Brief description of the Companyâs performance during the year
Your Directors are happy to announce that a Turnover 763 Million, which is the highest ever recorded in the company history. The over is increased by 7% as Compare to last year and the profit after tax is increased by 69 5% as compared to last year and s523o(Million).
Company had taken appropriate measures to control including financial measures and was able to sell the value added products to achieve the profit during the year.
Your Directors are confident that the measures by them will continue to give good results in the coming years.
SIGNIFICANT ACHIEVEMENT
Company is a regular foreign exchange earner; the following are the details of the Net foreign exchange earnings for the last 3 years.
(All figures in Rs.)
|
2013-14 |
2014-15 |
2015-16 |
|
92.5 Million |
175.3 Million |
226.8 Million |
5. Future outlook
Your Company is planning to expand by increasing capacities and/or range of products both regular as well as APIs either at the Unit-Hit do at Vishakhapatnam or the opposed Pharmacity at Mucharla in the state of Telangana. This will increase the company top/bottom line.
Your Directors are confident to increase thumbed and margins as well as net foreign exchange earnings in the coming years.
6. Research & Development
The company has spent 7.2 Million towards Research and Development during the financial year and is putting continuous efforts in R&D develop the new products and process for optimum material consumptions by effective yield.
During the year, the company has commercialize new products which have good potential in the years to go.
The revenues generated by the R&D products for the last 3 years are
(All figures in Rs.)
|
2013-14 |
2014-15 |
2015-16 |
|
4.5 Million |
52.5 Million |
69.1 Million |
7. Change in the nature of business, if any
Company had not changed its nature business during the year under review.
8. Material changes and commitments after the closure of financial year
Company had not faced any Material changes subsequent the closure of the financial year, which will affect the financial position or operations of the Company.
9. Significant and Material Orders
There are no significant and material orders passed by regulators or court or tribunals impacting the going concern status and Company operations in future.
10. Internal Financial Controls
Your company had adequate internal controls and his procedures adopted by the Company for ensuring the orderly and efficient conduct of its business during safeguarding of all its assets and prevention/detection of frauds and errors, completeness of accounting records.
Auditors have verified the internal financial controls and tested the adequacy and the procedures adopted by the company and confirm that the control adequate to the size of the transactions. The management reviews and monitors the controls and process on a regular basis.
11. Risk Management
The Management of the Company will take adequate in identifying, assessing, controlling and mitigating the risks associated with different areas of its business operations.
12. Details of Subsidiary/Joint Ventures/Associate Companies
Your company had no subsidiaries, Joint Ventures and associate companies during the financial year under review.
13. Deposits
Your company has not accepted any deposits convert under chapter V of the Companies Act, 2013 during the year under review and also no outstanding at the beginning of the financial year.
14. Auditors
Statutory Auditors
M/s. C K S Associates, Statutory Auditors appointed as auditors of the Company at the Annual General Meeting held on 2â August 2014 for a period of 5 years i.e., up to year 2019. As per the provisions of the Companies Act, 20B, the appointment of statutory auditors has to be ratified every year. Accordingly, it is proposed to ratify appointment at the ensuing Annual General Meeting.
Internal Auditors
The Board of directors of the company have appointed M/s. Ramakrishna & Associates Chartered Accountants as Internal Auditors to conduct the internal Audit of the company for the financial year ended 31st March, 2016
Secretarial Auditors
The Board of directors of the company have appointed CS B. Venkatesh Babu, Practicing Company Secretary as Secretarial Auditor to conduct Secretarial Audit of the company for the financial year ended 31st March, 2016.
15. Share Capital
Your Company had not issued and raised any share capital including sweat equity, employee stock options during the financial year under review. Your company has also not provided any money for purchase of its own shares by employees or for the benefit of employees.
16. Extract of the annual return
The extract of the annual return in Form MGTen9kised as Annexure -â and shall form part of the Boards report.
17. Conservation of energy, technology absorption and foreign exchange earnings and outgo
The details of conservation of energy, technology oblation, foreign exchange earnings and outgo have been provided in Annexure -2 and shall form part of this report.
18. Corporate Social Responsibility (CSR)
Your company is not covered under the provisions of Corporate Social Responsibility. But the company realizes its Social Responsibility and, therefore e-voting the free medical help to the poor people and financial assistance to the poor students through retable Trust run by the promoters.
19. Directors
Since the last annual general meeting there is the Board of Directors of the Company.
Smt. Y. Lalithya Poorna, Director will retire by the ensuring annual general meeting and, being eligible, offers herself for reappointment.
Details of no. of Board meetings are cove under the Corporate Governance section.
Declaration by an Independent Director
Company had received the declaration by an Independent Director(s) that he/they meet the criteria of independence as per the provisions of Section 49 of the Companies Act, 2013
Formal Annual Evaluation
Pursuant to the provisions of the Companies Act âthe Board has devised a policy on evaluation of performance of Board of Directors, Committees and individual Directors. Accordingly, the Chairman of the Nomination and Remuneration Committee obtain from all the board members duly filled in evaluation templates for evaluation of the Board as whole, evaluation of the committees and peer evaluation. The summary of the evaluation report presented to the respective Committees and the Board for their consideration.
20. Key Managerial Persons
During the year the Company had Appointed Mr. M. Karunakar Reddy as the Company Secretary of the Company in the casual vacancy caused by resignation Mr. Deepak Tibrewal, in compliance with the provisions of the Companies Act, 2013.
21. Directorâs Responsibility Statement
As per the provisions of clause) (of sub-section(3) of Section 134 of the Companies Act, 2013, your Directors shall state thatâ
(a) in the preparation of the annual accounts, applicable accounting standards have been followed along with proper explanation rating to material departures;
(b) the directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit or loss of the company for that period;
(c) the directors have taken proper and sufficient for the maintenance of adequate accounting records in accordance with the provisions oils Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;
(d) the directors have prepared the annual accounts on a going concern basis; and
(e) the directors, have laid down internal financial controls to be followed by the company and that such internal financial controls adequate and were operating effectively.
(f) the directors have devised proper systems to re compliance with the provisions of all applicable laws and that such systems adequate and operating effectively.
22. Committees
Your company has Audit Committee, Nomination and Remuneration Committee and Stakeholders Relationship Committee and the details are placed in the Corporate Governance section.
23. Vigil mechanism for directors and employees
The company believes in the standard of conduct which employees are expected to observe in their business endeavors. The Code (Vigil Mechanism) effects the Companyâs commitment to principles of integrity, transparency and fairness. The copy of Code of Vigil Mechanism is available on the Company websitewww.alkalimetals.com under Investor tab.
The Company has adopted a Whistle Blower Policy, past of vigil mechanism to provide appropriate avenues to the Directors and employees to bring to attention of the management any issue which is perceived to be in violation for in conflict with the fundamental business principles of the Company. The employees are encouraged to voice their concerned by way of whistle blowing and all the employees have been given access to the Audit Committee.
The Executive Director Sri. Y.V. PRASHANTH is designated as ombudsperson to deal with all the complaints registered under the policy.
24. Policy on Sexual Harassment
Company had adopted policy on Prevention of Sex Harassment of Women at Workplace in accordance with The Sexual Harassment of Women at Work place invention, Prohibition and Redressal) Act, 2013. During the year there were no female employees working for the Company.
25. Particulars of loans, guarantees or investments
The Company had not given any loans, guarantee made investments as per the provisions of section B6 of the Companies Act, 2013 during the financial year under review and also there are no outstanding amounts of loans given, guarantees provided and/investments made at the beginning of the year.
26. Particulars of contracts or arrangements with related parties
The Company had not entered into any contract or arming with related parties referred to in sub-section (1) of section 188 of the Companies Act 2013 including certain arms length transactions under third proviso thereto.
The Company has formulated a policy on material by Related Party Transactions and dealing with Related Party Transactions which can be accessed at the Company wwww.alkalimetals.com under Investor tab.
27. Managerial Remuneration/Employee Details
The Details required to be provided pursuant Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014;arnclosed as Annexure -3 and the same form part of the Directors Report.
There are no employees in the company in receipt of amounts covered in rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.
28.Secretarial Audit Report
A Secretarial Audit Report given by CS B. Venkatesh Company Secretary in practice is enclosed as Annexure -4 and the same form part of this report.
29. Corporate Governance/Management Discussion and Analysis
In terms of Regulation 134 of the SEBI (Listing Dionâs and Disclosure Requirements) Regulations, 2015, a Report on Corporate Governance along with Compliance Certificate issued by Statutory Auditors of the Company and also the Management Discuss and Analysis report annexed to this Annual Report and forms integral part of this Report.
30. Insurance
All the properties and insurable interests of the Company including building, plant and machinery and stocks have been adequately insured.
31. Listing on Stock Exchanges
The securities of the company are continued to the BSE and NSE. The listing fees for these stock exchanges is paid for the current year.
32. Cost Audit
Pursuant to provisions of section 48 of the Companies Act, 2013 read with Companies (Cost Records and Audit) Rules, 2014 cost audit is to applicable for the financial year 2015-16 for the Company.
33. Acknowledgements
Your Directors express their gratitude to all shareholders, bankers, regulatory authorities, government, customers, suppliers, business associates, from abroad, staff and workers for their continued support at all times and look forward to have the some future endeavours. Directors are pleased to record their appreciation of the sincere and dedicated services of the employees and workmen at all levels.
Your Directors look forward to the long term future with confidence
For and on behalf of Board of Directors
Y.S .R. VEN KATA RAO DR. J.S. YADAV
Place: Hyderabad MANAGING DIRECTOR CHAIRMAN
Date: G2.05.20B DIN: 00345524 DIN: 02014136
A. CONSERVATION OF ENERGY
1) The steps taken or impact on conservation of energy:
The continuous measures taken 1%; company for conserving the energy particularly installation of Hydrogen recovery plant and Nitrous oxide genemt plant at all the company units and usage of cost effective fuels made substantial attribution towards cost reduction.
2) The steps taken by the Company for utilizing alternate sources of energy:
Company will take continuous steps to use alternate sources by using cost effective fuels.
3) The Capital investment on energy conservation equipments:
Not envisaged any additional investment in the coming year.
B. TECHNOLOGY ABSORPTION
i. The Efforts made towards technology absorption:
Company had its own technology for the proceed the products and the company is in the continuous process of its R&D to reduce the process time, cost etc.
ii. The Benefits derived like product improvements reduction, product development or import substitution:
- Consistent approach to chemical press parameters for quality standards.
- Commercialization of new products
- Save time by automating repetitive R&D tasks
- Gain valuable chemical process understanding flow value material and process attributes data using machine learning methods.
- Adaptability to cost cutting measures.
iii. Details of technology imported during the past 3 years:
No technology has been imported during the past 3 years.
iv. The expenditure incurred on Research and Development 72 million.
Mar 31, 2014
The Share Holders,
ALKALI METALS LIMITED
Dear Members,
The Directors are pleased to submit the 46th Annual Report and Audited
Accounts of the Company for the financial year ended 31st March 2014:
Financial Results
The performance of the company for the financial year ended 31st March
2014 is summarized as below:
(All figures in Rs.)
2013-14 2012-13
Net Turnover 660,457,295 619,209,388
Profit/(Loss) before finance charges,
depreciation and 35,223,105 69,875,506
taxation
Less : Finance Charges 31,860,970 31,155,194
Depreciation and Amortization expense 35,179,787 34,808,665
Profit/(Loss) before tax (31,817,652) 3,911,647
Less: Exceptional items (128,753) --
Less : Current Year''s tax (MAT) -- 745,364
MAT Credit Entitlement -- (745,364)
Previous Years 32,555 336,908
Deferred tax (AS22) (12,100,481) (43,977,228)
Profit/(Loss) After tax (19,620,973) 47,551,966
Add: Balance Brought forward 88,249,253 52,531,650
Dividend on equity shares 10,182,506 10,182,506
Tax on Dividend 1,730,517 1,651,857
Transfer to General Reserve  --
Balance surplus carried to Balance
Sheet 56,715,257 88,249,253
Performance
During the year the company''s Gross Sales has been Rs.699 Million as
compared to Rs. 654 Million in 2012-13 registering growth of 7% over the
previous year. Due to increase in Power cost and other overheads during
the year, there is a net loss of Rs. 31.81 Million as compared to net
profit of Rs. 3.91 Million in the previous year.
SIGNIFICANT ACHIEVEMENT
During this year also, your company earned Net foreign exchange surplus
equivalent to Rs. 9.25 Crores as against Rs. 10.91 Crores for the previous
year.
Dividend on Equity Shares
Keeping in view of the financial position and to augment the resources
of the Company your Director not recommended any Dividend for the year
under review.
Future Outlook
Due to commercialization of API manufacturing facility at the
Visakhapatnam and some of the new products during the year, your
Company expects a good growth in the sales in the current financial
year.
Listing on Stock Exchanges
The securities of the company are continued to be listed on BSE and
NSE. The listing fees for these stock exchanges to be paid for the
current year.
Research & Development:
Your company has spent Rs. 1.04 Million during the financial year 2013-14
for achieving the objectives of new process development, technology
development for the commercial production of pharma intermediates and
agro based products. There are few R&D products which are in different
stages of completion. Your company is putting continuous efforts to
increase the cost efficiency through optimum material consumptions by
improving the processes.
Directors
As per Articles and in accordance with the provisions of the Act, Smt.
Y. Lalithya Poorna retire at the 46th AGM and are being eligible offer
herself for reappointment. Sri. Y.V. Prashanth, Additional Director be
and is hereby appointed as Director at the ensuing Annual General
Meeting. All the Independent Directors Sri. Ch.S. Prasad, Sri. G.
Jayaraman, Sri. P.C. Patnaik and Dr. J.S. Yadav were appointed as
independent Directors at the ensuing Annual General Meeting for a
period of 5 years. The brief particulars of all
appointing/re-appointing Directors are furnished in the Corporate
Governance Report.
Auditors
M/s. C K S Associates, Statutory Auditors retire at the ensuing Annual
General Meeting and being eligible, offer themselves for appointment.
The Board noted the Auditors Report and also letter received from them
as per the provisions of the Companies Act 2013 and that they are not
disqualified for such appointment be recommended for the appointment
for a period of 5 years from the closure of ensuing annual general
meeting to closure of the sixth consecutive Annual general meeting as
per the provisions of Companies Act, 2013.
Directors Responsibility Statement
Directors confirm that in the preparation of Annual Accounts for the
year ended 31st March 2014:
- All applicable accounting standards have been followed along with
proper explanation relating to material departures, if any.
- The Accounting policies framed in accordance with the guidelines of
the ICAI have been applied
- Accounting policies have been selected and applied consistently and
that the judgments and estimates made are reasonable and prudent so as
to give a true and fair view of the state of affairs of the Company at
the end of the financial year and of the Loss of the Company for that
period.
- Proper and sufficient care have been taken for the maintenance of
adequate accounting records in accordance with the provisions of the
Companies Act, 1956, for safeguarding the assets of the Company and for
preventing and detecting fraud and other irregularities.
- The Annual Accounts have been prepared on going concern basis.
Corporate Governance / MDA
Pursuant to Clause 49 of Listing agreement, your company has to
mandatorily comply with the requirements of corporate governance. A
separate section on corporate Governance and certificate from the
Auditors of the Company regarding compliance of conditions of corporate
governance form part of the Annual Report.
Conservation of Energy, Technology absorption, and Foreign Exchange
As required under 217 1(e) of the Companies Act 1956 read with Rule 2
of the Companies (Disclosure of Particulars in the Report of Board of
Directors) Rules 1988, the particulars relating to conservation of
energy, technology absorption, foreign exchange earnings and outgo have
been given in Annexure-II, which forms part of this report.
Industrial Safety and Environment Safety
Your Company continues to accord high priority on safety of all the
personnel and mitigation of damage to properties of the Company.
Company is maintaining high quality of safety measures and undertaken
regular checks and reviews in consultation with risk management
specialists and certain proactive actions taken to avoid accidents.
Safety drills are conducted at regular intervals to train the workers
and the employees to meet the exigencies of the accidents.
Environment
Members are aware that your Company has been accorded ISO 9001 and ISO
14001 reflecting its commitment to environment protection. Your Company
is continuously putting efforts to maintain the Environment with
International Standards and effluent treatment to mitigate the
pollution. Company carries on extensive plantation and maintenance of
trees around manufacturing plants for green belt development.
Particulars under 217(2A)
There are no employees, who are covered Under Section 217(2A) of the
Companies Act, read with the provisions contained in Companies
(Particulars of Employees) Rules, 1975, as amended to date.
Cost Audit:
Company is subjected to Cost Audit u/s 233B of the Companies Act 1956
with effect from FY 2012-13. Accordingly M/s. DZR & Co., Cost
Accountants were appointed as the Cost Auditors for both the financial
years 2012-13 and 2013-14. The Cost Audit Report for the Financial Year
2012-13 was taken on record by the Board of Directors in their meeting
held on 30th July 2013 and was filed with Cost Audit Branch on 24th
Sept 2013 while the due date for such filing was 27th Sept 2013.
The Cost Audit for the financial year 2013-14 is in progress and the
necessary filings with the Central Government would be completed before
the due date i.e., 27th Sept 2014.
The Government is yet to notify the mechanism of Cost Audit applicable
for the Financial year 2014-15.
Industrial Relations:
The company enjoyed cordial relations with its employees at all levels.
Your Directors record their appreciation of the support and
co-operation of all employees, staff and workers and counts on them for
the accelerated growth of the Company.
Acknowledgements:
Your Directors express their gratitude to all stakeholders, State Bank
of India, Regulatory Authorities, Government of Andhra Pradesh,
customers, business associates, dealers, from India and abroad, staff
and workers for their continued support at all times and look forward
to have the same in our future endeavors.
By order of the Board of Directors
Sd/- Sd/-
Y.S.R. VENKATA RAO DR. J.S. YADAV
Place: Hyderabad MANAGING DIRECTOR CHAIRMAN
Date: 19.04.2014 DIN: 00345524 DIN: 02014136
Mar 31, 2013
To The Share Holders of ALKALI METALS LIMITED
Dear Members,
The Directors are pleased to submit the 45th Annual Report and Audited
Accounts of the Company for the financial year ended 31 March 2013:
Financial Results
The performance of the company for the financial year ended 31st March
2013 is summarized as below:
(All figures in Rs.)
2012-13 2011-12
Net Turnover 619,164,935 592,542,156
Profit/(Loss) before finance charges,
depreciation and 69,875,506 (61,159,486)
taxation
Less : Finance Charges 31,155,194 38,549,948
Depreciation and Amortization expense 34,808,665 31,264,705
Profit/(Loss) before tax 3,911,647 (130,974,139)
Less : Current Year''s tax (MAT) 745,364 -
MAT Credit Entitlement (745,364) -
Previous Years 336,908 8,247,227
Deferred tax (AS22) (43,977,228) 24,234,253
Profit/(Loss) After tax 47,551,966 (163,455,619)
Add: Balance Brought forward 52,531,650 227,821,632
Dividend on equity shares 10,182,506 10,182,506
Tax on Dividend 1,651,857 1,651,857
Transfer to General Reserve - -
Balance surplus carried to Balance
Sheet 88,249,253 52,531,650
Performance
During the year the company''s Gross Sales has been Rs. 654 Millions
as compared to Rs. 621 Millions in 2011-12. The company has taken steps
to bring the operational costs to optimum level, as a result, the
Employees'' cost is reduced from previous year''s level of 12% to 11%
and finance costs from 7% to 5%. These savings helped the company to
meet the additional cost of power & fuel incurred due to frequent power
cuts to the industries. In spite of these constraints, the company has
recorded net profit of Rs. 4 millions.
Further, two new products have been commercialized during the year
under review and their share to the total sales is 11 %.
Dividend on Equity Shares
Keeping in view the profitability and dividend track record of your
company, your Directors are pleased to recommend dividend at Rs. 1/-per
share on the paid-up equity capital of Rs.10/- subject to necessary
approvals. The aggregate dividend payout for the year 2012-13 amounts
to Rs.11,834,363/- including Dividend Tax.
Future Outlook
Due to commercialization of new products during the year and
implementation of new market strategies, new tie-ups for the business,
your Company expects a reasonable growth in the sales in the current
financial year. Besides, the Industrial growth in India is poised for
7% per annum during the current financial year, your company expects
higher demand for its products.
Listing on Stock Exchanges
The securities of the company are continued to be listed on BSE and
NSE. The listing fees for these stock exchanges to be paid for the
current year.
Research & Development:
Your company has spent Rs. 16 Millions during the financial year
2012-13 for achieving the objectives of new process development,
technology development for the commercial production of pharma
intermediates and agro based products. There are few R&D products which
are in different stages of completion. Your company is putting
continuous efforts to increase the cost efficiency through optimum
material consumptions by improving the processes.
During the year, your company commercialized two new products which
have been accepted by the customers and sizeable orders are expected
for these products in the coming future.
Directors
As per Articles and in accordance with the provisions of the Act, Sri.
P.C. Patnaik and Sri Ch.S. Prasad retire at the 45th AGM and are being
eligible offer themselves for reappointment. The brief particulars of
all retiring Directors are furnished in the Corporate Governance
Report.
Auditors
M/s. C K S Associates, Statutory Auditors retire at the ensuing Annual
General Meeting and being eligible, offer themselves for appointment.
The Board noted the Auditors Report and also letter received from them
as per 224(1B) of the Companies Act 1956 and that they are not
disqualified for such appointment within the meaning of Section 226 of
the Companies Act.
Directors Responsibility Statement
Directors confirm that in the preparation of Annual Accounts for the
year ended 31st March 2013:
- All applicable accounting standards have been followed along with
proper explanation relating to material departures, if any.
- The Accounting policies framed in accordance with the guidelines of
the ICAI have been applied
- Accounting policies have been selected and applied consistently and
that the judgments and estimates made are reasonable and prudent so as
to give a true and fair view of the state of affairs of the Company at
the end of the financial year and of the Loss of the Company for that
period.
- Proper and sufficient care have been taken for the maintenance of
adequate accounting records in accordance with the provisions of the
Companies Act, 1956, for safeguarding the assets of the Company and for
preventing and detecting fraud and other irregularities.
- The Annual Accounts have been prepared on going concern basis.
Corporate Governance / MDA
Pursuant to Clause 49 of Listing agreement, your company has to
mandatorily comply with the requirements of corporate governance. A
separate section on corporate Governance and certificate from the
Auditors of the Company regarding compliance of conditions of corporate
governance form part of the Annual Report.
Conservation of Energy, Technology absorption, and Foreign Exchange
As required under 217 1(e) of the Companies Act 1956 read with Rule 2
of the Companies (Disclosure of Particulars in the Report of Board of
Directors) Rules 1988, the particulars relating to conservation of
energy, technology absorption, foreign exchange earnings and outgo have
been given in Annexure-II, which forms part of this report.
Industrial Safety and Environment Safety
Your Company continues to accord high priority on safety of all the
personnel and mitigation of damage to equipment in all the plants. A
thorough review of all the safety measures at regular intervals in all
the plants is undertaken in consultation with risk management
specialists and certain proactive actions taken to avoid accidents.
Safety drills are conducted at regular intervals to train the workers
and the employees to meet the exigencies of the accidents.
Environment
Members are aware that your Company has been accorded ISO 9001 and ISO
14001 reflecting its commitment to environment protection. Your Company
is continuously putting efforts to maintain the Environment with
International Standards. Company carries on extensive plantation and
maintenance of trees around manufacturing plants for green belt
development.
Particulars under 217(2A)
As required by the provisions of Section 217(2A) of the Companies Act,
1956 read with Companies (Particulars of Employees)Rules 1975 as
amended is furnished here under.
Name Qualification Date of Designation
joining
Sri. Y.S.R. B.E.(Mech) 01.07.1991 Managing
Venkata Rao F.I.E. Director
Name Previous Remuneration
Experience Age
employer Commission
Sri Y S R
Venkata Rao -- 40 years 62 Rs. 2.1 Million p.a.
Industrial Relations:
The company enjoyed cordial relations with its employees at all levels.
Your Directors record their appreciation of the support and
co-operation of all employees, staff and workers and counts on them for
the accelerated growth of the Company.
Acknowledgements:
Your Directors express their gratitude to all stakeholders, State Bank
of India, Regulatory Authorities, Government of Andhra Pradesh,
customers, business associates, dealers, from India and abroad, staff
and workers for their continued support at all times and look forward
to have the same in our future endeavors.
By order of the Board of Directors
Sd/- Sd/-
Place: Hyderabad Y.S.R. VENKATA RAO DR. J.S. YADAV
Date: 08.04.2013 MANAGING DIRECTOR CHAIRMAN
Mar 31, 2012
To The Share Holders of ALKALI METALS LIMITED
The Directors are pleased to submit the 44th Annual Report and Audited
Accounts of the Company for the financial year ended 31 March 2012:
Financial Results
The performance of the company for the financial year ended 31st March
2012 is summarized as below:
(All figures in Rs)
2011-12 2010-11
Net Turnover 592,542,156 656,026,855
Profit/(Loss) before finance
charges, depreciation and (61,159,486) 80,763,135
taxation
Less : Finance Charges 38,549,948 24,924,536
Depreciation and Amortization expense 31,264,705 26,117,538
Profit/(Loss) before tax (130,974,139) 29,721,061
Less : Current Year's tax -- 6,400,000
Previous Years 8,247,227 -
_MAT Credit Entitlement -- (19,737,813)
Deferred tax (AS22) 24,234,253 11,871,434
Profit/(Loss) After tax (163,455,619) 31,187,440
Add: Balance Brought forward 227,821,632 223,290,746
Dividend on equity shares 10,182,506 20,365,012
Tax on Dividend 1,651,857 3,319,436
Transfer to general reserve -- 2,972,106
Balance surplus carried to Balance
Sheet 52,531,650 227,821,632
Performance
During the year the company's Gross Sales has been Rs 621 Million as
compared to Rs 678 Million in 2010-11. In spite of low industrial growth
in India and global Economy slowdown, your company could achieve the
maximum of projected sales turnover during the year. However, due to
increase of Raw material prices and other overheads, there is a loss of
Rs 163 Million during the year as compared to the Net profit of Rs 31
Million in the previous financial year.
Your Directors are taking all steps to reduce the costs and improve the
margins to the extent possible. Due to commercialization of two new
products and cost reduction, your Directors are confident to improve
the profitability in the coming years.
Dividend on Equity Shares
Keeping in view of the Dividend track record of your company, your
Directors are pleased to recommend dividend at Rs 1/-per share on the
paid-up equity capital of Rs 10/- subject to necessary approvals. The
aggregate dividend payout for the year 2011-12 amounts to Rs
11,834,363/- including Dividend Tax.
Future
Due to commercialization of new products during the year and
implementation of new market strategies, your Company expects a
reasonable growth in the sales in the current financial year. Besides,
the Industrial growth in India is poised for 9% per annum during the
current financial year because of which your company expects higher
demand for its products. Further, the Global economy is also on the
road of recovery which may contribute the increased demand for
company's Exports.
Listing on Stock Exchanges
The securities of the company are continued to be listed on BSE and
NSE. The listing fees for these stock exchanges have been paid for the
current year.
Research & Development:
Your company has spent Rs 20.16 Million during the financial year
2011-12 for achieving the objectives of new process development,
technology development for the commercial production of pharma
intermediates and agro based products. During the year, some projects
started in earlier years have been successfully completed and the
remaining projects are in different stages of completion. Your company
is putting continuous efforts to increase the cost efficiency through
optimum material consumptions by improving the processes.
During the year, your company commercialized two new products which
have been accepted by the customers and sizeable orders are expected
for these products in the coming future.
Utilization of IPO Funds
All the Stakeholders are aware that the Company has collected Rs 262.65
Million through IPO process during October 2008 and stipulated Rs 387.37
Million for setting up of API plant at JN Pharma City, Visakhapatnam
and so far spentRs 297.18 Million.
Directors
As per Articles and in accordance with the provisions of the Act, Smt.
Y. Lalithya Poorna and Dr. J.S. Yadav retire at the 44th AGM and are
being eligible offer themselves for re- appointment.
The brief particulars of all retiring Directors as well as newly
elected Director are furnished in the Corporate Governance Report.
Auditors
M/s. C K S Associates, Statutory Auditors retire at the ensuing Annual
General Meeting and being eligible, offer themselves for appointment.
The Board noted the Auditors Report and also letter received from them
as per 224(1B) of the Companies Act 1956 and that they are not
disqualified for such appointment within the meaning of Section 226 of
the Companies Act.
Directors Responsibility Statement
Directors confirm that in the preparation of Annual Accounts for the
year ended 31st March 2012:
- All applicable accounting standards have been followed along with
proper explanation relating to material departures, if any.
- The Accounting policies framed in accordance with the guidelines of
the ICAI have been applied
- Accounting policies have been selected and applied consistently and
that the judgments and estimates made are reasonable and prudent so as
to give a true and fair view of the state of affairs of the Company at
the end of the financial year and of the Loss of the Company for that
period.
- Proper and sufficient care have been taken for the maintenance of
adequate accounting records in accordance with the provisions of the
Companies Act, 1956, for safeguarding the assets of the Company and for
preventing and detecting fraud and other irregularities.
- The Annual Accounts have been prepared on going concern basis.
Corporate Governance / MDA
Pursuant to Clause 49 of Listing agreement, your company has to
mandatorily comply with the requirements of corporate governance. A
separate section on corporate Governance and certificate from the
Auditors of the Company regarding compliance of conditions of corporate
governance form part of the Annual Report.
Conservation of Energy, Technology absorption, and Foreign Exchange
As required under 217 1(e) of the Companies Act 1956 read with Rule 2
of the Companies (Disclosure of Particulars in the Report of Board of
Directors) Rules 1988, the particulars relating to conservation of
energy, technology absorption, foreign exchange earnings and outgo have
been given in Annexure-II, which forms part of this report.
Industrial Safety and Environment Safety
Your Company continues to accord high priority to all safety of all the
personnel and mitigation of damage to equipment in all the plants. A
thorough review of all the safety measures in all the plants is
undertaken in consultation with risk management specialists and certain
proactive actions taken to avoid accidents. Safety drills are conducted
at regular intervals to train the workers and the employees to meet the
exigencies of the accidents.
Environment
Members are aware that your Company has been accorded ISO 9001 and ISO
14001 reflecting its commitment to environment protection. Further,
extensive plantation and maintenance of trees around manufacturing
plants is undertaken for green belt development.
Particulars under 217(2A)
As required by the provisions of Section 217(2A) of the Companies Act,
1956 read with Companies (Particulars of Employees) Rules 1975 as
amended is furnished here under.
Date of Previous Remuneration
Name Qualifi
cation Design
ation Experi
ence Age
joining employeer commission
Sri.
Y.S.R. B.E.
(Mech) 01.07.
1991 Managing - 39
years 61 1.73
Venkata
Rao F.I.E. Director Million p.a.
Industrial Relations:
The company enjoyed cordial relations with its employees at all levels.
Your Directors record their appreciation of the support and
co-operation of all employees, staff and workers and counts on them for
the accelerated growth of the Company.
Acknowledgements:
Your Directors express their gratitude to all stakeholders, State Bank
of India, Regulatory Authorities, Government of Andhra Pradesh,
customers, business associates, dealers, from India and abroad, staff
and workers for their continued support at all times and look forward
to have the same in our future endeavors.
By order of the Board of Directors
Sd/- Sd/-
Y.S.R. VENKATA RAO DR. J.S. YADAV
Date : 21.05.2012 MANAGING DIRECTOR CHAIRMAN
Place: Hyderabad
Mar 31, 2011
Dear Members,
The Directors are pleased to submit the 43rd Annual Report and Audited
Accounts of the Company for the financial year ended 31st March 2011:
Financial Results
The performance of the company for the financial year ended 31st March
2011 is summarized as below: (Rs.)
2010-11 2009-10
Gross Turnover 691,470,810 604,093,374
Profit before finance charges,
depreciation and taxation 80,763,135 121,691,827
Less : Finance Charges 24,924,536 7,054,071
Depreciation 26,117,538 19,166,546
Profit before tax 29,721,061 95,471,210
Less : Current Year's tax 6,400,000 16,300,000
Previous Years - 4,042,722
MAT Credit Entitlement (19,737,813) -
Deferred tax (AS22) 11,871,434 9,722,022
Profit After tax 31,187,440 65,406,466
Add: Balance Brought forward 223,290,746 215,536,372
Dividend on equity shares 20,365,012 40,730,024
Tax on Dividend 3,319,436 6,922,068
Transfer to general reserve 2,972,106 10,000,000
Balance surplus carried to Balance Sheet 227,821,632 223,290,746
Performance
During the year the company's sales / turnover for the year ended March
2011, has been satisfactory. Although the gross income has gone up but
due to all-round escalation of costs and stiff competition in the
market, the company has made a profit before taxes of Rs. 297.21 Lakhs
when compared to last year's profit before taxes of Rs 954.71 Lakhs.
Your Directors are taking all steps to reduce the costs and improve the
margins to the extent possible. Your Directors are confident to improve
the profitability in the coming years.
Dividend on Equity Shares
Considering performance and profitability of your company during the
year and keeping in view the ongoing Capital works and growth
trajectory, your Directors are pleased to recommend dividend at Rs.2/-
per share on the paid-up equity capital subject to necessary approvals.
The aggregate dividend payout for the year 2010-11 amounts to
Rs.23,684,448/- including Dividend Tax.
Future
Even though the sales in the last six months were not satisfactory due
to severe competition and low margins, your Company can foresee a good
momentum in sales in the current financial year as the new facility at
Visakhapatnam put into operation, and arrangements with strategic
manufacturers of new range of products is in advanced stage to increase
the volume and profitability of the Company. Apart from this our R&D
has been fully strengthened to meet the future and current market
trends and convert the opportunities into reality for higher scale of
Commercial production and profitability. Thus the Company is exploring
all the possibilities to acquire the know how from other strategic
manufacturers to combine our best efforts for all- round growth and
create better wealth for the Shareholders.
Listing on Stock Exchanges
The securities of the company are continued to be listed on BSE and
NSE. The listing fees for these stock exchanges have been paid for the
current year.
Research & Development:
Your Company has been identifying new products through R&D wing
constantly. R&D Specialists are being associated to develop
costomotised products for testing and commercialization which are going
to yield good financial support to the Company's turnover and which are
of paramount importance because of improved outcomes and achievements.
We are confident of maintaining our consistency in quality and going
forward to introduce more and more new diversified products and
delivery mechanism to counter the competitors and expect sustained
growth and increase our market share in near future. Thus the Company
is trying its best to put into use its scientific excellence and
expertise in marketing new products in India and abroad.
Utilization of IPO Funds
All the Stakeholders are aware that the Company has collected Rs.262.65
Millions through IPO process during October 2008 and stipulated
Rs.387.37 Millions for setting up of API plant at JN Pharma City,
Visakhapatnam and so far spent Rs. 265.89 Millions.
Directors
As per Articles and in accordance with the provisions of the Act, Sri.
Ch.S. Prasad and Sri. G. Jayaraman retire at the 43rd AGM and are being
eligible offer themselves for re- appointment.
Sri. R.C. Sohni was co-opted as Additional Director and is proposed to
be elected as Director who retires by rotation at the ensuing Annual
General Meeting.
The brief particulars of all retiring Directors as well as newly
elected Director are furnished in the Corporate Governance Report.
Auditors
M/s. C K S Associates, Statutory Auditors retire at the ensuing Annual
General Meeting and being eligible, offer themselves for appointment.
The Board noted the Auditors Report and also letter received from them
as per 224(1B) of the Companies Act 1956 and that they are not
disqualified for such appointment within the meaning of Section 226 of
the Companies Act.
Directors Responsibility Statement
Directors confirm that in the preparation of Annual Accounts for the
year ended 31st March 2011:
- All applicable accounting standards have been followed along with
proper explanation relating to material departures, if any.
- The Accounting policies framed in accordance with the guidelines of
the ICAI have been applied
- Accounting policies have been selected and applied consistently and
that the judgments and estimates made are reasonable and prudent so as
to give a true and fair view of the state of affairs of the Company at
the end of the financial year and of the profit of the Company for that
period.
- Proper and sufficient care have been taken for the maintenance of
adequate accounting records in accordance with the provisions of the
Companies Act, 1956, for safeguarding the assets of the Company and for
preventing and detecting fraud and other irregularities.
- The Annual Accounts have been prepared on going concern basis.
Corporate Governance / MDA
Pursuant to Clause 49 of Listing agreement, your company has to
mandatorily comply with the requirements of corporate governance. A
separate section on corporate Governance and certificate from the
Auditors of the Company regarding compliance of conditions of corporate
governance form part of the Annual Report.
Conservation of Energy, Technology absorption, and Foreign Exchange
As required under 217 1(e) of the Companies Act 1956 read with Rule 2
of the Companies (Disclosure of Particulars in the Report of Board of
Directors) Rules 1988, the particulars relating to conservation of
energy, technology absorption, foreign exchange earnings and outgo have
been given in Annexure-II, which forms part of this report.
Industrial Safety and Environment
Safety
Your Company continues to accord high priority to all safety of all the
personnel and mitigation of damage to equipment in all the plants. A
thorough review of all the safety measures in all the plants is
undertaken in consultation with risk management specialists and certain
proactive actions taken to avoid accidents. Safety drills are conducted
at regular intervals to train the workers and the employees to meet the
exigencies of the accidents.
Environment
Members are aware that your Company has been accorded ISO 9001 and ISO
14001 reflecting its commitment to environment protection. Further,
extensive plantation of trees around manufacturing plants is undertaken
for green belt development.
Particulars under 217(2A)
As required by the provisions of Section 217(2A) of the Companies Act,
1956 read with Companies (Particulars of Employees)Rules 1975 as
amended is furnished here under.
Name Qualification Date of Designation Previous
joining employer
Sri.Y.S.R. B.E.(Mech) 01.07.1991 Managing -
Venkata Rao F.I.E. Director
Remuneration
Name Experience Age / commission
Sri.Y.S.R. 38 years 60 Rs.2.20
Venkata Rao Millions
Industrial Relations:
The company enjoyed cordial relations with its employees at all levels.
Your Directors record their appreciation of the support and
co-operation of all employees, staff and workers and counts on them for
the accelerated growth of the Company.
Acknowledgements:
Your Directors express their gratitude to all stakeholders, State Bank
of India, Regulatory Authorities, Government of Andhra Pradesh,
customers, business associates, dealers, from India and abroad, staff
and workers for their continued support at all times and look forward
to have the same in our future endeavors.
By order of the Board of Directors
Sd/- Sd/-
Y.S.R. VENKATA RAO Dr. J.S. YADAV
MANAGING DIRECTOR CHAIRMAN
Place: Hyderabad
Date : 23.05.2011
Mar 31, 2010
Sad demise of Our Founder Chairman:
March 301 2010 is a very sad day for all of our members as our founder
promoter Chairman Dr.Y.V.S.S. Murty passed away after a brief illness.
It is indeed a great loss to our industry in particular as well to
chemical industry in general. He embarked on setting up this industry
at a time industrialisation in the country was at a very nascent stage
and against all odds he successfully steered our Company for 42 long
years and the fruits of his hard work are being now enjoyed by the
current team of management, staff, workers and share holders. He was
deeply committed to industry, technology, self dependence and had
enlarged vision for growth of our industry. Due to his untiring
efforts, the industry is recognised world over as a strong technology
oriented company.
Board is pleased to submit their Report and Audited Accounts of the
Company for the financial year ended 31st March 2010:
Financial Results:
The performance of the company for the financial year ended 31st March
2010 is summarized as below:
(Rs.)
2009-10 2008-09
Gross Turnover 604,093,374 685,379,336
Profit before finance charges,
depreciation and taxation 121,691,827 129,964,407
Less: Finance Charges 7,054,071 12,749,155
Depreciation 19,166,546 18,500,511
Profit before tax 95,471,210 98,714,741
Less:Current years tax 16,300,000 11,200,000
Previous Years 4,042,722 __
Deferred tax (AS22) 9,722,022 (250,000)
Profit After tax 65,406,466 87,764,741
Add: Balance Brought forward 215,536,372 192,362,383
Dividend on equity shares 40,730,024 40,730,024
Tax on Dividend 6,922,068 6,922,068
Transfer to general reserve 10,000,000 10,000,000
Bonus issue -- 6,938,660
Balance surplus carried to
Balance Sheet 223,290,746 215,536,372
Dividend on equity shares :
During the financial year 2009-10, considering reasonable performance
of your company and your Directors are pleased to recommend dividend at
Rs. 4/- per share (@ 40%) on the paid-up equity capital subject to
necessary approvals. The aggregate dividend payout for the year 2009-
10 amounts to Rs 476.52 Lakhs including Dividend Tax.
Review of operations :
During the year the companys sales / turnover for the year ended March
2010, has been satisfactory although the gross income has gone down due
to all-round escalation of costs and stiff competition in the market.
The company has a profit before taxes of Rs 954.71 Lakhs when compared
to last years profit before taxes of Rs 987.14 Lakhs.
Future :
Even though the sales in the first six months of the financial year
were down due to severe recession in the industry, the next six months
saw good momentum and pick up in the sales. Your company has been able
to successfully come out of the slumber due to large basket of
products, which are developed in house.
With the new facility at Visakhapatnam put into operation, additional
value added products can be brought into fold, thus increasing the top
and bottom lines of the company. Already certain high valued
intermediates which are developed in R&D, are being scaled up for
commercial production, thus future looks bright and hopeful.
Stock Exchanges:
The securities of the company are Listed on BSE and NSE. The listing
fees for these stock exchanges have been paid for the current year.
Commercial Production from Unit III, Parawada, Visakhapatnam:
The Board is pleased to inform all the shareholders that the Commercial
production from Unit III, Parawada, Visakhapatnam has begun with effect
from 16th March 2010 and started exporting from this unit also.
Research & Development:
As research and developmental efforts are continuous for sustained
growth and development of any Industry, your Board is constantly
endeavoring and monitoring to strengthen the R&D wing, which is the
back bone for the Companys future products. Efforts are being made to
scale up the products from pilot scale to commercial level for the
products which have high value addition to the profitability level.
With this philosophy, the Company during the year has further
strengthened the human resources by recruiting technically competent
and qualified personnel to man the programmes identified by the
specialists in the respective areas of concentration.
Utilization of IPO Funds:
All the Stakeholders are aware that the Company has collected Rs.262.65
Millions through IPO process during October 2008 and stipulated
Rs.387.37 Millions for setting up of API plant at JN Pharma City,
Parawada, Visakhapatnam and so far spent Rs 210.41 Millions. The
Company has commenced its Commercial Production with effect from 16th
March 2010.
Directors:
As per Articles and in accordance with the provisions of the Act, Dr.
J.S. Yadav and Sri. P.C. Patnaik retire at the 42nd AGM and are being
eligible offer themselves for re-appointment.
Sri. Y.S.R. Venkata Rao, Managing Director is proposed for
re-appointment at the ensuing Annual General Meeting.
Smt. Y. Lalithya Poorna was co-opted as Additional Director and is
proposed to be elected as Director who retires by rotation at the
ensuing Annual General Meeting.
The brief particulars of all retiring Directors as well as newly
elected Director and the Managing Director are furnished in the
Corporate Governance Report.
Auditors:
M/s. C K S Associates, Statutory Auditors retire at the ensuing Annual
General Meeting and being eligible, offer themselves for appointment.
The Board noted the Auditors Report and also letter received from them
as per 224(1B) of the Companies Act 1956 and that they are not
disqualified for such appointment within the meaning of Section 226 of
the companies Act.
Directors Responsibility Statement:
Directors confirm that in the preparation of Annual Accounts for the
year ended 31st March 2010:
- All applicable accounting standards have been followed along with
proper explanation relating to material departures, if any.
- The Accounting policies framed in accordance with the guidelines of
the ICAI have been applied
- Accounting policies have been selected and applied consistently and
that the judgments and estimates made are reasonable and prudent so as
to give a true and fair view of the state of affairs of the Company at
the end of the financial year and of the profit of the Company for that
period.
- Proper and sufficient care have been taken for the maintenance of
adequate accounting records in accordance with the provisions of the
Companies Act, 1956, for safeguarding the assets of the Company and for
preventing and detecting fraud and other irregularities.
- The Annual Accounts have been prepared on going concern basis.
Corporate Governance/MDA:
A Report on Corporate Governance together with Management discussion
and Analysis Report along with Certificate from the Auditors of the
Company regarding compliance with Clause 49 of Listing agreement are
annexed.
Conservation of energy, Technology absorption, and Foreign Exchange:
As required under 217 1(e) of the Companies Act 1956 read with Rule 2
of the Companies (Disclosure of Particulars in the Report of Board of
Directors) Rules 1988, the particulars relating to conservation of
energy, technology absorption, foreign exchange earnings and outgo have
been given in Annexure-II, which forms part of this report.
Industrial Safety and Environment:
The Company endeavors to protect the environment in all its activities
as a social responsibility. safety drills are conducted at regular
intervals to train the workers and the employees to meet the exigencies
of the accidents.
The environmental Management system adopted by the Company at its
plants is Certified as per International Standard ISO 9001 and ISO
14001. Further, extensive plantation of trees around manufacturing
plants is undertaken for green belt development.
Particulars under 217(2A):
Details of Persons who are in receipt of remuneration as specified U/s
217 (2A) of the
Companies Act, 1956.
Date of
Name Qualification joining Designation
Y.S.R. B.E. 01.07.1991 Managing
Venkata (Mech.) Director
Rao F.I.E
Name Previous Remuneration
employer Experience Age / commission
Y.S.R. 37yrs 59 Rs.30.62
Venkata lakhs p.a.
Rao
Industrial Relations:
The company enjoyed cordial relations with its employees at all levels.
Your Directors record their appreciation of the support and
co-operation of all employees, staff and workers and counts on them for
the accelerated growth of the Company.
Acknowledgements:
Your Directors express their gratitude to all stakeholders, State Bank
of India, Regulatory Authorities, Government of Andhra Pradesh,
customers, business associates, dealers, from India and abroad, staff
and workers for their continued support and confidence reposed on the
management.
By order of the Board of Directors
Sd/-
Dr. J.S. YADAV
CHAIRMAN
Place: Hyderabad
Date: 27.05.2010
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