Professional Documents
Culture Documents
ANNUAL REPORT
2017-2018
AUDITORS:
M/s. Kishor Goyal and Co.
Chartered Accountants,
Ahmedabad
BANKERS
ICICI Bank Ltd.
Yes Bank Ltd.
REGISTERED OFFICE:
72, The Nutan Guj. Co Op Shops And Warehouses Soc.
O/S Raipur Gate, Near Laxmi Cotton Mill Ahmedabad GJ 380022 IN
CONTENTS
Notice 1
Board of Director’s Report 7
Management Analysis & Discussion Report 15
Standalone Independent Auditor’s Report 38
Standalone Financial Statements 44
Consolidated Independent Auditor’s Report 59
Consolidated Financial Statements 64
NOTICE is hereby given that the 5th Annual General Meeting of the Members of BANSAL MULTIFLEX LIMITED
will be held on Friday, 27th July, 2018 at 3.00 P.M. at the registered office of the company at 72, The Nutan Guj. Co Op
Shops and Warehouses Soc. O/S Raipur Gate, Near Laxmi Cotton Mill, Ahmedabad – 380022 Gujarat, to transact the
following business.
ORDINARY BUSINESS:
1. To receive, consider and adopt :-
(a) the audited Standalone Financial Statement of the Company for the financial year ended March 31, 2018
and the reports of the Board of Directors and Auditors thereon; and
(b) the audited Consolidated Financial Statement of the Company for the financial year ended March 31, 2018
and the reports of the Board of Directors and Auditors thereon.
2. To appoint a Director in place of Mrs. Suman Anup Bansal (DIN: 06735151) who retires by rotation and being
eligible, offers herself for re-appointment.
SPECIAL BUSINESS:
3. Revision in the remuneration of Mr. Anupkumar Bansal (DIN: 06735149), Managing Director of the
Company
To consider and if thought fit, to pass with or without modification(s), the following resolution as an Ordinary
Resolution:
“RESOLVED THAT pursuant to recommendation of Nomination and Remuneration Committee and approval
of the Board of Directors and in accordance with the provisions of Sections 196, 197, 198, 203, 188 and other
applicable provisions, if any, of the Companies Act, 2013 (the Act), and the rules made there under (including
any statutory modification or re-enactment thereof ) read with Schedule-V of the Companies Act, 2013, Article
of Association of the Company, approval of the members of the Company be and is hereby accorded for revision
in remuneration payable to Mr. Anupkumar Bansal (DIN: 06735149), Managing Director of the Company with
effect from 1st April, 2018 on the terms and conditions including remuneration as detailed in the explanatory
statement.
4. Revision in the remuneration of Mrs. Suman Anup Bansal (DIN: 06735151), Whole-time Director of the
Company
To consider and if thought fit, to pass with or without modification(s), the following resolution as an Ordinary
Resolution:
“RESOLVED THAT pursuant to recommendation of Nomination and Remuneration Committee and approval
of the Board of Directors and in accordance with the provisions of Sections 196, 197, 198, 203, 188 and other
applicable provisions, if any, of the Companies Act, 2013 (the Act), and the rules made there under (including
any statutory modification or re-enactment thereof ) read with Schedule-V of the Companies Act, 2013, Article
of Association of the Company, approval of the members of the Company be and is hereby accorded for revision
in remuneration payable to Mrs. Suman Anup Bansal (DIN: 06735151), Whole-time Director of the Company with
effect from 1st April, 2018 on the terms and conditions including remuneration as detailed in the explanatory
statement.
2. The statement pursuant to Section 102(1) of the Companies Act, 2013, which sets out details relating to the
special business to be transacted at the meeting, in annexed hereto.
3. Electronic copy of Annual Report for FY 2017-18 is being sent to all the members whose email IDs. Are registered
with the Company/Depository Participant(s) for communication purpose for a Physical copy of the same.
4. Corporate Members intending to send their authorized representatives to attend the Meeting are requested
to ensure that the authorized representative carries Power of Attorney or such other valid authorizations,
authorizing them to attend and vote on their behalf at the Meeting.
5. The Register of Members and Share Transfer Books of the Company will remain closed from Friday, 20th July, 2018
to Friday, 27th July, 2018 (both days inclusive).
6. The Register of Directors’ and Key Managerial Personnel and their shareholding maintained under Section 170 of
the Companies Act, 2013, the Register of Contracts or Arrangement in which the Directors are interested under
Section 189 of the Companies Act, 2013 will be available for inspection at the AGM.
7. Members/Proxies are requested to bring their attendance slips duly filled along with copies of their Annual
Report.
8. Brief resume of Directors including those proposed to be appointed / re-appointed, nature of their expertise in
specific functional areas, names of companies in which they hold directorships and memberships / chairmanships
/ chairmanships of Board Committees as stipulated under Listing Obligation and Disclosure Requirements
Regulations, 2015 are provided in the annexure to the notice calling Annual General Meeitng.
9. Members of the Company had approved the Appointment of M/s. Kishor Goyal & Co., Chartered Accountants
as the Statutory Auditor of the Company which is valid till 7th AGM of the Company. In accordance with the
Companies Amendment Act, 2017, enforced on 7th May, 2018 by Ministry of Corporate Affairs, the Appointment
of Statutory Auditors is not required to be ratified at every AGM.
10. Members who hold the shares in the dematerialized form are requested to notify any change of address or bank
mandates to their Depositories Participants with whom they are maintaining their demat accounts.
11. To prevent fraudulent transactions, Members are advised to exercises due diligence and notify the Company /
Registrar of any change in the address or demise of any member as soon as possible. Members are also advised
not to leave their demat accounts dormant for long. Periodic statement of holding should be obtained from
concerned Depository Participant and holdings should be verified.
12. The Company is having agreements with NSDL and CDSL to enable Members to have the option of dealing
and holding the shares of the Company in electronic form. The ISIN of the equity shares of the Company is
INE668X01018.
13. The Securities and Exchange Board of India (SEBI) has mandated the submission of Permanent Account Number
(PAN) by every Participant in Securities market. Members holding shares in electronic form are, therefore,
requested to submit the PAN to their Depository Participants with whom they are maintaining their accounts.
14. As per Notification issued by Ministry of Corporate Affairs dated 19th of March, 2015 with reference to the
Companies (Management and Administration) Rules, 2014 Companies covered under Chapter XB and Chapter
XC as per SEBI (ICDR) Regulations, 2009 will be exempted from e-voting provisions. Also, no such provision is
15. Members are requested to address all correspondence including change in their addresses, to the Company or
to the Registrar and Share Transfer Agent, M/s. Bigshare Services Private Limited, E-2/3, Ansa Industrial Estate,
Sakivihar Road, Saki Naka, Andheri (E), Mumbai – 400 072; website www.bigshareonline.com. Members whose
shareholding is in electronic mode are requested to approach their respective depository participants for
effecting change of address.
• T he Shareholders are requested to update the Contact address and E-mail address and are requested to
notify immediately any change in their address, exclusively on separate letter without clubbing it with any
other request, for quicker attention directly to the Company’s Share Transfer Agent.
16. All documents referred to in the accompanying notice and the Statements are open for inspection by the
members at the Registered Office of the Company on all working days, except Saturdays, during business hours
upto date of Annual General Meeting.
17. Relevant documents referred to in the accompanying Notice are open for inspection by the members at the
Registered Office of the Company on all working days, except Saturdays and Sundays, during business hours up
to the date of the Meeting.
18. Notice of this Annual General Meeting, Audited Financial Statements for 2017-18 along with Directors’ Report
and Auditors Report are available on the website of the Company at www.bansalmultiflex.com.
19. The route map showing direction to reach the venue of the 5th Annual General Meeting is annexed as per
requirement of SS -2 on General Meetings.
20. As a part of “ Green Initiative in the Corporate Governance”, the Ministry of Corporate has permitted the
Companies to serve the documents, namely, Notice of General Meeting, Balance, Statement of Profit and Loss,
Auditors’s Report, Directors’ Report etc. to the members through e-mail.
21. Pursuant to the prohibition imposed vide section 118 of the Companies Act, 2013 read with Secretarial Standards
on General Meetings (SS-2) issued by the Instiitute of Company Secretaries of India, no gifts/coupons shall be
distributed at the Meeting.
The following statement sets out all material facts relating to Special Business mentioned in the accompanying
Notice:
Item No. 3:
The Members of the Company at the 3rd Annual General Meeting held on 29th September, 2016 had approved the
appointment of Mr. Anupkumar Bansal (DIN: 06735149) as a Managing Director of the Company effective from 30th
August, 2016 for a period of 5 years and also approved the remuneration payable to Mr. Anupkumar Bansal (DIN:
06735149) effective from 30th August, 2016.
Based on the performance of Mr. Anupkumar Bansal (DIN: 06735149) as a Managing Director, the members of the
Company at the 4th Annual General Meeting held on 28th September, 2017 had approved the revision in remuneration
of Mr. Anupkumar Bansal (DIN: 06735149), Managing Director effective from 1st October, 2017.
In terms of rich and varied experience, Mr. Anupkumar Bansal has contributed towards the growth and expansion
of the Company. Further, on the recommendation of the Nomination and Remuneration Committee, the Board
recommends the revision of remuneration payable to Mr. Anupkumar Bansal for member’s approval as described
below:
Details of remuneration:
Salary:
• Basic Salary
• eimbursement of actual travelling expenses for proceeding on leave with family to anywhere in India or abroad
R
as per rules of the Company.
• ar, Telephone, Cell Phone, PC shall be provided and their maintenance and running expenses shall be met by
C
the Company.
• Other benefits like Gratuity, Provident Fund, Leave etc. as applicable as per rules of the Company.
Mr. Anupkumar Bansal (DIN: 06735149) Managing Director, Mrs. Suman Anup Bansal (DIN: 06735151), Whole-
time Director, Mr. Rajendrakumar Bansal (DIN: 07575670), Director and Ms. Aashi Bansal (DIN: 07575667), Director
are interested in the above stated matter. No other directors, Key Managerial Personnel of the Company and their
relatives, in any way, concerned or interested financially or otherwise in the above said resolutions
The Board recommends the Resolution at Item No.: 3 for approval of the Members.
Item No. 4:
The Members of the Company at the Extra Ordinary General Meeting held on 25th March, 2017 had approved the
appointment of Mrs. Suman Anup Bansal (DIN: 06735151) as a Whole-time Director of the Company effective from
25th March, 2017 for a period of 3 years and also approved the remuneration payable to Mrs. Suman Anup Bansal (DIN:
06735151) effective from 25th March, 2017.
Details of remuneration:
Salary:
• eimbursement of actual travelling expenses for proceeding on leave with family to anywhere in India or abroad
R
as per rules of the Company.
• ar, Telephone, Cell Phone, PC shall be provided and their maintenance and running expenses shall be met by
C
the Company.
• Other benefits like Gratuity, Provident Fund, Leave etc. as applicable as per rules of the Company.
Mrs. Suman Anup Bansal (DIN: 06735151), Whole-time Director, Mr. Anupkumar Bansal (DIN: 06735149) Managing
Director, Mr. Rajendrakumar Bansal (DIN: 07575670), Director and Ms. Aashi Bansal (DIN: 07575667), Director are
interested in the above stated matter. No other directors, Key Managerial Personnel of the Company and their
relatives, in any way, concerned or interested financially or otherwise in the above said resolutions
The Board recommends the Resolution at Item No.: 4 for approval of the Members.
Your Directors have pleasure in submitting their 5th Annual Report of the Company together with the Audited
Statements of Accounts of the Company for the year ended on 31st March, 2018.
1. FINANCIAL PERFORMANCE/HIGHLIGHTS:
During the year under review, the Company has earned net profit of Rs. 1,46,73,514/-. There is notable increase
in profit after tax during the current year comparison to the previous year. Your Directors look forward to
improve the financial position of the Company and are optimistic about the future growth and performance of
the Company.
The summarized financial results of the Company for the period ended 31st March, 2018 are as follows:
(Amt In Rs.)
Particulars Standalone Consolidated
2017-18 2016-17 2017-18
Revenue from operations 47,11,27,085 11,76,45,269 47,11,27,085
Other Income 6,63,647 50,272 6,63,647
Total Income 47,17,90,732 11,76,95,541 47,17,90,732
Less: Expenditure 44,14,58,168 11,13,90,761 44,24,50,721
Profit/(loss) before Interest, Depreciation and Tax 3,03,32,565 63,04,780 2,93,40,011
Less: Finance Cost 74,86,137 3,66,184 74,86,137
Less: Depreciation & Amortization Cost 14,83,802 3,07,275 14,83,802
Prior Period Items 8,72,501 0 8,72,501
Less: Extraordinary items 0 0 0
Profit/(loss)Before Tax 2,04,90,124 56,31,321 1,94,97,570
Less: Tax Expenses 60,97,709 18,50,000 60,97,709
Less: Deferred Tax 2,81,099 40,776 2,81,099
Profit/(loss)after Tax 1,46,73,514 38,22,096 1,36,80,960
2. DIVIDEND
With a view to provide a cushion for any financial contingencies in the future and to strengthen the financial
position of the Company, your Directors have decided not to recommend any dividend for the period under
review.
3. CAPITAL STRUCTURE
During the year under review, the paid up share capital of the Company has been increased from Rs. 5,41,00,000
(Rupees Five Crore Forty One Lakh) divided into 54,10,000 (Fifty Four Lakh ten thousand) equity shares of
Rs. 10 each to Rs. 6,20,00,000 (Rupees Six Crores Twenty Lakhs ) by initial public offer of 20,00,000 (Twenty
Lakhs) equity shares at a face value of Rs. 10/- each and a premium of Rs. 21/- each. The aforesaid Equity
Shares is listed on NSE-Emerge Platform.
Further, the Company has not issued shares with differential voting rights nor has granted any stock options or
sweat equity.
The Financial Statement of the Company for the Financial year 2017-18 are prepared in compliance with the
applicable provisions of the Act, Accounting Standards and as prescribed by Securities and Exchange Board
of India (SEBI) (Listing Obligations and Disclosure Requirement) Regulations, 2015. The consolidated Financial
Statement has been prepared on the basis of the audited financial statement of the Company as approved by
their respective Board of Directors. Pursuant to the provisions of Section 136 of the Act, the Financial Statements
of the Company, the Consolidated Financial Statements along with all relevant documents and Auditors report
thereon form part of this annual report.
Since there was no unpaid/unclaimed dividend, the provisions of Section 125 of the Companies Act, 2013 do not
apply.
During the year, there is no change in the nature of the business of the Company.
7. DEPOSITS
The Company has not accepted or renewed any amount falling within the purview of provisions of Section 73
of the Companies Act, 2013 (“the Act”) read with the Companies (Acceptance of Deposit) Rules, 2014 during the
period under review. Hence, the requirement for furnishing the details of deposits which are not in compliance
with Chapter V of the Act is not applicable.
8. TRANSFER TO RESERVES
During the year under review, the Company has not transferred any amount to reserves.
9. MATERIAL CHANGES AND COMMITMENT IF ANY AFFECTING THE FINANCIAL POSITION OF THE COMPANY
OCCURRED BETWEEN THE ENDS OF THE FINANCIAL YEAR TO WHICH THESE FINANCIAL STATEMENTS
RELATE AND THE DATE OF THE REPORT
There is no material changes and commitments affecting the financial position of the company have occurred
between the end of the financial year of the company to which the financial statements relate and the date of
this report.
Nomination and Remuneration Committee annually evaluates the performance of individual Directors,
Committees and of the Board as a whole in accordance with the formal system adopted by it. Further, the Board
also regularly in their meeting held for various purposes evaluates the performance of all the Director, committees
and the Board as a whole. The Board considers the recommendation made by Nomination and Remuneration
Committee in regard to the evaluation of board members and also tries to discharge its duties more effectively.
Each board members contribution, their participation was evaluated and the domain knowledge they bring.
They also evaluate the manner in which the information flows between the Board and the Management and the
manner in which the board papers and other documents are prepared and furnished.
No orders have been passed by any Regulator or Court or Tribunal which can have impact on the going concern
status and the Company’s operations in future.
The Company has not developed and implemented any risk management policy as the risk threatening the
business activity carried out by the Company during the year are minimal.
A. CONSERVATION OF ENERGY:
i. the steps taken by the company for utilizing alternate sources of energy : None
B. TECHNOLOGY ABSORPTION:
ii. the benefits derived like product improvement, cost reduction, product development or import
substitution : None
iii. in case of imported technology (imported during the last three years reckoned from the beginning of
the financial year)-
d) if not fully absorbed, areas where absorption has not taken place, and the reasons thereof : N.A.
14. DETAILS OF POLICY DEVELOPED AND IMPLEMENTED BY THE COMPANY ON ITS CORPORATE SOCIAL
RESPONSIBILITY INITIATIVES
The Company has not developed and implemented any Corporate Social Responsibility initiatives as the said
provisions are not applicable.
15. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS MADE UNDER SECTION 186 OF THE COMPANIES
ACT, 2013
During the year, the Company has made investment falling under the provision of Section 186 of the Companies
Act, 2013 read with rules made there under. The Company has not given loan, guarantee or provided security in
connection with the loan to any other body corporate or person. The members are requested to refer the notes
to the financial statement which are forms the part of the Annual Report for detailed information. (Note-11 of
Standalone Financials)
During the year under review, the Company has entered into any contracts or arrangements with related parties.
The particulars of Contracts or Arrangements made with related parties required to be furnished under section
134(3) are disclosed in the prescribed form (Form AOC-2) which is attached to this Report as “Annexure- A”.
i. Composition of Board;
Name of Directors Designation Category No. of Board No. of Board
Meeting held Meeting
during the attended
year during the year
Anupkumar Chairman & Promoter Executive 6 6
Rajendrakumar Bansal Managing Director
Suman Anup Bansal Whole time Director Promoter Executive 6 6
Aashi Anup Bansal Director Promoter Non- 6 5
Executive
Rajender Kumar Director Promoter Executive 6 6
Ramchander Bansal
Rajesh Kumar Singal Director Independent 6 6
Aesha Jashwantray Director Independent 6 6
Mashru
During the year under review, neither additional directors nor any alternate directors were appointed.
As per the provisions of Section 152 of the Companies Act, 2013, Mrs. Suman Anup Bansal (DIN: 06735151)
is liable to retire by rotation at the ensuing Annual General Meeting and being eligible, offers herself for
reappointment. Your Directors recommend her reappointment.
During the year, Mr. Ravishankar Mishra ceased to be Chief Finacial Officer of the Company and Ms. Vrusha
Patel ceased to be Company Secretary and Compliance Officer of the Company w.e.f. 21/12/2017.
Further, Mr. Faruk H. Diwan who is associate member of Institute of Company Secretaries of India appointed
as Company Secretary and Compliance Officer of the Company w.e.f. 20/02/2018.
v. NUMBER OF BOARD MEETINGS
Regular meetings of the Board are held to discuss and decide on various business policies, strategies,
financial matters and other businesses.
During the year under review, the Board duly met Six (6) times on 25/04/2017, 07/07/2017, 29/08/2017,
14/11/2017, 21/12/2017 and 20/02/2018 in respect of said meetings proper notices were given and
proceedings were properly recorded and signed in the Minute Book maintained for the purpose.
Nomination and Remuneration Committee annually evaluates the performance of individual Directors,
Committees, and of the Board as a whole in accordance with the formal system adopted by it. Further,
the Board also regularly in their meetings held for various purposes evaluates the performance of all
the Directors, committees and the Board as a whole. The Board considers the recommendation made by
Nomination and Remuneration Committee in regard to the evaluation of board members and also tries to
discharge its duties more effectively. Each Board member’s contribution, their participation was evaluated
and the domain knowledge they bring. They also evaluated the manner in which the information flows
between the Board and the Management and the manner in which the board papers and other documents
are prepared and furnished.
All the Independent Directors of the Company have given their declarations stating that they meet the
criteria of independence as laid down under Section 149(6) of the Companies Act, 2013 and in the opinion
of the Board, the Independent directors meet the said criteria.
During the year under review the Independent Directors duly met pursuant to the provisions as specified
in Schedule IV of the Companies Act, 2013 and the quorum was present throughout the meeting.
In terms of Section 134 (5) of the Companies Act, 2013, the directors would like to state that:
I. In the preparation of the annual accounts, the applicable accounting standards have been followed.
II. The directors had selected such accounting policies and applied them consistently and made judgments
and estimates that were 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 the year under
review.
III. The directors had 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.
IV. The directors had prepared the annual accounts on a going concern basis.
V. The directors had laid down internal financial controls to be followed by the company and that such internal
financial controls are adequate and were operating effectively.
VI. The directors had devised proper system to ensure compliance with the provisions of all applicable laws
and that such system were adequate and operating effectively.
Pursuant to the provisions of section 177(8) of the Companies Act, 2013, the Board hereby discloses the
composition of the Audit Committee and other relevant matters as under:
The Audit Committee acts in accordance with the terms of reference specified by the Board of Directors of the
Company. Further during the period under review, the Board of Directors of the Company had accepted all the
recommendations of the Committee.
During the financial year ended on 31 st March 2018, the Audit Committee met Five (5) times on
25/04/2017, 07/07/2017, 29/08/2017, 14/11/2017 and 20/02/2018.
Pursuant to the provisions of Section 177(9) of the Companies Act, 2013 and SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, the Board of Directors of the Company has established vigil
mechanism/Whistle Blower Policy for Directors and employees of the Company to report genuine concerns
regarding unethical behavior, actual or suspected fraud or violation of the Company’s code of conduct and
The Board of Directors of the Company frequently reviews the vigil mechanism/whistle blower policy in order to
ensure adequate safeguards to employees and Directors against victimization.
The said policy is also available on the website of the Company at www.bansalmultiflex.com.
The Board has in accordance with the provisions of sub-section (3) of Section 178 of the Companies Act,
2013, formulated the policy setting out the criteria for determining qualifications, positive attributes,
independence of a Director and policy relating to remuneration for Directors, Key Managerial Personnel
and other employees. The said policy is furnished in “Annexure B” and is attached to this report.
During the year, three meetings of the Committee were held on 29/08/2017, 21/12/2017, 20/02/2018..
The Company has not received any complaints during the year. The pending complaints of the Shareholders/
Investors registered with SEBI at the end of the current financial year ended on 31st March, 2018 are NIL.
There were no pending requests for share transfer/dematerialisation of shares as of 31st March 2018.
Compliance Officer:
Mr. Faruk H. Diwan is the Compliance Officer of the Company w.e.f 20th February, 2018 who is also designated as
Company Secretary of the Company.
The Company has placed an adequate Internal Financial Controls with reference to Financial Statements. The
Board has inter alia reviewed the adequacy and effectiveness of the Company’s internal financial controls
relating to its financial statements.
During the year, such Controls were tested and no reportable material weakness was observed.
There was no case filed during the year, under the sexual harassment of woman at work place (Prevention,
Prohibition and Redressal) Act, 2013. Further, the Company ensures that there is a healthy and safe atmosphere
for every women employee at the workplace and made the necessary policies for safe and secure environment
for women employee.
The Company has incorporated subsidiary Company A2S Global Enterprise DMCC by acquiring 75% controlling
interest on 31st July, 2017 in Dubai. The statement containing the salient feature of the statement of a Company’s
subsidiary is given as “Annexure C”.
26. AUDITORS
i. STATUTORY AUDITORS
The present Auditors of the Company M/s. Kishor Goyal & Co., Chartered Accountants, were appointed as
Statutory Auditors for a period of 5 year(s) at the Annual General Meeting held on 30th September, 2015 to
hold the office till the conclusion of 7th Annual General Meeting of the Company to be held in the year 2020.
In pursuant to Companies Amendment Act,2017, enforced on 7th May,2018 by Ministry of Corporate Affairs,
the appointment of statutory auditor is not required to be ratified at every annual general meeting.
There are no qualifications, reservations or adverse remarks made by M/s. Kishor Goyal & Co., Chartered
Accountants, the Statutory Auditors of the Company, in their report. The observations made by the
Statutory Auditors in their report for the financial period ended 31st March 2017 read with the explanatory
notes therein are self explanatory and therefore, do not call for any further explanation or comments from
the Board under Section 134(3) of the Companies Act, 2013.
M/s. Vishwas Sharma & Associates, Company Secretaries, Ahmedabad were appointed as Secretarial Auditor
of the Company to conduct secretarial audit pursuant to the provisions of Section 204 of the Companies
Act, 2013. However, M/s. Vishwas Sharma & Associates shown his inability to conduct Secretarial Audit of
the Company. Therefore, the Company has approached to M/s. Pratibha Gupta & Associates, Company
Secretaries, New Delhi for appointment as Secretarial Auditor and were appointed to conduct Secretarial
Audit for FY 2017-18.
The secretarial audit of the Company has been conducted on a concurrent basis in respect of the matters as
set out in the said rules and Secretarial Audit Report given by M/s. Pratibha Gupta & Associates, Company
Secretaries, Secretarial Auditor of the Company forms part of this report and is marked as Annexure-“D”.
There were no qualifications reservations or adverse remarks made by M/s. Pratibha Gupta & Associates,
Company Secretaries Secretarial Auditor of the Company in their report.
The Company has not appointed the Cost Auditor as pursuant to Section 148 of the Companies Act, 2013
read with the Companies (Cost Records and Audit) Amendment Rules, 2014, the cost audit is not applicable
to the Company.
The extracts of Annual Return pursuant to the provisions of Section 92 read with Rule 12 of the Companies
(Management and administration) Rules, 2014 is furnished in Annexure “E” and is attached to this Report.
The information required under Section 197 of the Companies Act, 2013 read with rule 5(1) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014 is provided in the Report and marked as
Annexure-“F”. No employee of the Company was in receipt of the remuneration exceeding the limits prescribed
in the rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.
Your Company has been complying with the principals of good Corporate Governance over the years and is
committed to the highest standards of compliance.
Pursuant to regulation 15(2) of the SEBI (LODR) Regulations 2015, the compliance with the corporate governance
provisions as specified in regulations 17 to 27 and clauses (b) to (i) of Regulation 46 (2) and para C, D and E of
schedule V shall not apply to the listed entity which has listed its specified securities on the SME Exchange.
Therefore, the Corporate Governance Report is not applicable on the Company and therefore not provided by
the Board.
30. LISTING
The equity shares of the company are listed on SME platform of NSE (NSE EMERGE) and the Company has paid
annual listing fees for the year 2018-19.
The Management’s Discussion and Analysis Report for the year under review, as stipulated under Regulation
34(2)(e) of the Listing Regulations is given as an annexure to this report.
32. ACKNOWLEDGEMENTS
Your Directors place on record their sincere thanks to bankers, business associates, consultants, and various
Government Authorities for their continued support extended to your Companies activities during the year
under review. Your Directors also acknowledges gratefully the shareholders for their support and confidence
reposed on your Company.
Sd/-
Anupkumar Bansal
Date : 25/05/2018 Chairman and Managing Director
Place : Ahmedabad (DIN: 06735149)
Our Company is engaged in trading of cloth, different type of semi furnished fabrics, varieties of finished fabrics
and different type of chemicals primarily used in making detergent and soaps. Our Company engages services
of third party job workers for processing of Grey cloth which includes dying, bleaching, printing, drying etc.
Our Company trades semi-finished and finished product to garment houses for manufacturing of garments in
the apparel industry. Our Product portfolio comprises of wide range of fabrics Grey fabric, Cotton Fabric, Dress
materials , Matchings, Twill
Fabrics, Satin fabrics, Slub Satin Fabrics, Cotton Slub fabrics, Dobby fabrics, Meti fabrics, Jute Fabrics, Denim
Fabric, Xford Fabrics, Rencho Fabrics, Micro Cotton Fabrics and Raymond Cotton Fabrics under the spectrum
of fabric and clothes and Acid Slury (LABSA), AOS Chemicals, Caustic Flakes, Caustic Soda Flakes under the
spectrum of chemicals.
The future for the Indian textile industry looks promising, buoyed by both strong domestic consumption as well
as export demand. With consumerism and disposable income on the rise, the retail sector has experienced a
rapid growth in the past decade with the entry of several international players like Marks & Spencer, Guess and
Next into the Indian market. The organised apparel segment is expected to grow at a Compound Annual Growth
Rate (CAGR) of more than 13 per cent over a 10 years period.
During the year, the Company’s revenues are Rs. 42,84,78,460/- (i.e. 90.95%) in textile segment and Rs.
4,26,48,625/- (i.e. 9.05%) in chemical. Our Company has achieved a progress in its operations but due to its future
expansion plans and emerging opportunities your directors expect increase in its revenue and income.
The Company has adequate system of internal control commensurate with its size and operations to ensure
orderly and efficient conduct of the business. These controls ensure safeguard of assets, reduction and detection
of frauds and error, adequacy and completeness of the accounting record and timely preparation of reliable
financial information.
The financial performance of the Company for the year 2017-18 is described in the Directors Report.
The sector in which the Company has been operating is developing faster and provides ample growth
opportunities.
Our business is subjected to various risks and uncertainties, our results of operations and financial conditions are
affected by numerous factors including the following:
• Quality of Products
During the year under review, no such initiatives and/or developments in Human Resources/Industrial Relations
front has been taken by the Company.
Statement in this Management Discussion and Analysis describing the company’s objectives, projections,
estimated and expectations are “forward looking statements” Actual results might differ, materially from those
anticipated because of changing ground realities.
Sd/-
Anupkumar Bansal
Date : 25/05/2018 Chairman and Managing Director
Place : Ahmedabad (DIN: 06735149)
Form for Disclosure of particulars of contracts/arrangements entered into by the company with related parties
referred to in sub section (1) of section 188 of the Companies Act, 2013 including certain arms length transaction
under third proviso thereto.
(Pursuant to clause (h) of sub-section (3) of section 134 of the Act and Rule 8(2) of the Companies (Accounts)
Rules, 2014)
Sd/-
Anupkumar Bansal
Date : 25/05/2018 Chairman and Managing Director
Place : Ahmedabad (DIN: 06735149)
Notes:
The following information shall be furnished at the end of the statement:
1. Names of subsidiaries which are yet to commence operations: NIL
2. Names of subsidiaries which have been liquidated or sold during the year: NIL
Sd/-
Anupkumar Bansal
Date : 25/05/2018 Chairman and Managing Director
Place : Ahmedabad (DIN: 06735149)
A. Promoters
(1) Indian
a) Individual/ HUF - 54,09,800 54,09,800 100 54,09,800 - 54,09,800 73.0067 -26.9933
b) Central Govt - - - - - - - - -
c) State Govt(s) - - - - - - - - -
d) Bodies Corp. - - - - - - - - -
e) Banks / FI - - - - - - - - -
f) Any other - - - - - - - - -
Directors/Relatives
Sub-total (A)(1):- 54,09,800 54,09,800 100 54,09,800 - 54,09,800 73.0067 -26.9933
(2) Foreign
a)NRIs-Individuals - - - - - - - - -
b) Other-Individuals - - - - - - - - -
c) Bodies Corp. - - - - - - - - -
d) Bank/FI - - - - - - - - -
e) Any - - - - - - - - -
Other. . .
Sub-total (A)(2):- - - - - - - - - -
Total Shareholding - 54,09,800 54,09,800 100 54,09,800 - 54,09,800 73.0067 -26.9933
of Promoter (A)=(A)
(1)+(A(2)
B. Public Shareholding
1. Institutions
a) Mutual Funds - - - - - - - - -
b) Banks / FI - - - - - - - - -
c) Central Govt - - - - - - - - -
d) State Govt(s) - - - - - - - - -
e) Venture Capital Funds - - - - - - - - -
f) Insurance Companies - - - - - - - - -
g) FIIs - - - - - - - - -
h) Foreign Venture - - - - - - - - -
Capital Funds
i) Others (specify) - - - - - - - - -
Sub-total (B)(1):- - - - - - - - - -
2. Non-Institutions
a) Bodies Corp.
i) Indian - - - - 2,19,126 - 2,19,126 2.9572 2.9572
ii) Overseas - - - - - - - - -
b) Individuals
i) Individual - 200 200 Negligible 6,42,447 6,42,447 8.67 8.67
shareholders holding
nominal share capital
upto ` 1 lakh
ii) Individual - - - - 9,50,564 - 9,50,564 12.8281 12.8281
shareholders holding
nominal share capital in
excess of `1 lakh
c) Others 1.Hindu - - - - 1,88,063 - 1,88,063 2.5380 2.5380
Undivided Families
2.Non Resident - - - - - - - - -
Repatriates
Sub-total (B)(2):- 200 200 Negligible 20,00,200 - 20,00,200 26.9933 26.9933
Total Public 200 200 Negligible 2000200 - 2000200 26.9933 26.9933
Shareholding (B)=(B)
(1)+ (B)(2)
C. Shares held by - - - - - - - - -
Custodian for GDRs &
ADRs
Grand Total (A+B+C) - 54,10,000 54,10,000 100 7410000 - 7410000 100.00 -
V. INDEBTEDNESS
Indebtedness of the Company including interest outstanding/accrued but not due for payment
Secured Loans Unsecured Deposits Total
excluding Loans Indebtedness
deposits
Indebtedness at the beginning of the
financial year
i) Principal Amount 60817618 1556651 0 62374269
ii) Interest due but not paid 0 0 0 0
iii) Interest accrued but not due 0 0 0 0
Total (i+ii+iii) 60817618 1556651 0 62374269
Change in Indebtedness during the
financial year
• Addition 1040444 0 0 1040444
• Reduction 0 1556651 0 1556651
Net Change
Indebtedness at the end of the financial year
i) Principal Amount 61858062 0 0 61858062
ii) Interest due but not paid 0 0 0 0
iii) Interest accrued but not due 0 0 0 0
Total (i+ii+iii) 61858062 0 0 61858062
To,
The Members,
BANSAL MULTIFLEX LIMITED
Ahmedabad, Gujarat.
I have conducted the secretarial audit of the compliance of applicable statutory provisions and the adherence to
good corporate practices by BANSAL MULTIFLEX LIMITED (CIN: L36100GJ2013PLC077651) (hereinafter called the
company). Secretarial Audit was conducted in a manner that provided me a reasonable basis for evaluating the
corporate conducts/statutory compliances and expressing my opinion thereon.
Based on my verification of the Company’s books, papers, minute books, forms and returns filed and other records
maintained by the Company and also the information provided by the Company, its officers, agents and authorized
representatives during the conduct of secretarial audit, I hereby report that in my opinion, the Company has, during
the audit period covering the financial year ended on 31st March, 2018 (‘Audit Period’) complied with the statutory
provisions listed hereunder and also that the Company has proper Board-processes and compliance-mechanism in
place to the extent, in the manner and subject to the reporting made hereinafter:
I have examined the books, papers, minute books, forms and returns filed and other records maintained by the
Company for the financial year ended on 31st March, 2018 according to the provisions of:
i. The Companies Act, 2013 (the Act) and the rules made there
ii. The Securities Contracts (Regulation) Act, 1956 (‘SCRA’) and the rules made thereunder;
iii. The Depositories Act, 1996 and the Regulations and Bye-laws framed thereunder;
iv. Foreign Exchange Management Act, 1999 and the Rules and Regulations made thereunder to the extent of
Foreign Direct Investment, Overseas Direct Investment and External Commercial Borrowing.
v. The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act, 1992
(‘SEBI Act’):-
(a) The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers)Regulations,
2011;
(b) The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015.
(c) The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations,
2009.
(d) The Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014 (not
applicable to the company during the audit period)
(e) The Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008 (not
applicable to the company during the audit period);
(f ) The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations,
1993 regarding the Companies Act and dealing with client;
(g) The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 (not applicable
to the company during the audit period);
(h) The Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998 (not applicable to the
company during the audit period);
I have also examined compliance with the applicable Clauses of the following:
(ii) Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
During the period under review the Company has complied with the provisions of the Act, Rules, Regulations,
Guidelines, Standards, etc. mentioned above.
The Board of Directors of the Company is duly constituted with proper balance of Executive Directors, Non-Executive
Directors and Independent Directors. The changes in the composition of the Board of Directors that took place during
the period under review were carried out in compliance with the provisions of the Act.
Adequate notice is given to all the directors to schedule the Board Meetings, agenda and detailed notes on agenda
were sent at least seven days in advance, and a system exists for seeking and obtaining further information and
clarifications on the agenda items before the meeting and for meaningful participation at the meeting.
Board take decision by majority of directors while the dissenting directors’ views are captured and recorded as part
of the minutes.
There are adequate systems and processes in the company commensurate with the size and operations of the
company to monitor and ensure compliance with applicable Laws, Rules, Regulations and guidelines.
I further report that during the audit period the Company has issued 20,00,000 equity share of Rs.10/- each at a
premium of Rs.21/- per share through Intial Public Offer (IPO) and listed its equity shares on SME platform of National
Stock Exchange (NSE Emerge) on 12th July, 2017.
Pratibha Gupta
Proprietor
Place : Ahmedabad ACS: 40984
Date : 25/05/2018 COP No.:15838
Note: This report is to be read with my letter of even date which is annexed as Annexure herewith and forms and
integral part of this report.
To,
The Members,
BANSAL MULTIFLEX LIMITED
Ahmedabad, Gujarat.
1. Maintenance of secretarial records is the responsibility of the management of the Company. My responsibility is
to express an opinion on these secretarial records based on my audit.
2. I have followed the audit practices and processes as were appropriate to obtain reasonable assurance about
the correctness of the contents of the secretarial records. The verification was done on test basis to ensure that
correct facts are reflected in secretarial records. I believe that the processes and practices, I followed provide a
reasonable basis for my opinion.
3. I have not verified the correctness and appropriateness of financial records and Books of Accounts of the
Company.
4. Wherever required, I have obtained the Management representations about the compliance of Laws, Rules and
Regulations and happening of events etc.
5. The compliance of the provisions of corporate and other applicable Laws, Rules, Regulations, Standards is the
responsibility of management. My examination was limited to the verification of procedures on test basis.
6. The Secretarial Audit report is neither an assurance as to the future viability of the Company nor of the efficacy
or effectiveness with which the management has conducted the affairs of the Company.
Pratibha Gupta
Proprietor
Place : Ahmedabad ACS: 40984
Date : 25/05/2018 COP No.:15838
The ratio of the remuneration of each director to the median employee’s remuneration and other details in terms of
Sub Section 12 of Section 197 read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014:
Sr. Requirements Disclosure
No.
I. The ratio of remuneration to each director to the median remuneration of the MD 3.36 times
employees for the financial year WTD 3.33 times
II. The percentage increase in remuneration of each director, Chief Financial Officer, MD 278.13%
Chief Executive Officer, Company Secretary in the financial year WTD 26.32%
III. The percentage increase in the median remuneration of employees in the financial No Increase
year
IV. The number of permanent employees on the rolls of the Company as on 31st 17
March, 2018
V. Average percentile increase already made in the salaries of employees other than Nil
the managerial personnel in the last financial year and its managerial remuneration
and justification thereof and point out if there are any exceptional circumstances
for increase in the managerial remuneration.
VI. Affirmation that the remuneration is as per the remuneration policy of the Yes, it is confirmed
Company
Sd/-
Anupkumar Bansal
Date : 25/05/2018 Chairman and Managing Director
Place : Ahmedabad (DIN: 06735149)
Kishor Goyal
Date : 25/05/2018 (Partner)
Place : Ahmedabad Membership No: 047286
Kishor Goyal
Date : 25/05/2018 (Partner)
Place : Ahmedabad Membership No: 047286
Kishor Goyal
Date : 25/05/2018 (Partner)
Place : Ahmedabad Membership No: 047286
2 SHARE CAPITAL :
Particulars As At 31-03-2018 As At 31-03-2017
Rs Rs
Authorised :
10000000 Equity Shares of Rs 10/- Each 100,000,000 100,000,000
Issued, Subscribed and Paid up :
5410000 Equity Shares of Rs 10/- Each - 54,100,000
7410000 Equity Shares of Rs 10/- Each 74,100,000 -
74,100,000 54,100,000
Subscribed & Fully Paid Share Capital
5410000 Equity Shares of Rs 10/- Each - 54,100,000
7410000 Equity Shares of Rs 10/- Each 74,100,000 -
74,100,000 54,100,000
TOTAL RS : 74,100,000 54,100,000
7 Trade Payables
Particulars As At 31-03-2018 As At 31-03-2017
Rs Rs
Sundry Creditors
Creditors for Goods 66,231,371 71,700,888
Creditors for Exp 1,907,054 237,569
Closing Balance 68,138,425 71,938,458
10 Tangible Assets
As at 31.03.2018
Particulars Gross Additions Disposals As at Depreciation & Amortisation Net Carrying Net Carrying
Carrying March 31 Upto Current Total Value As At Value As At
Amount As at 2018 April 1, Year March 31, March 31,
April 1, 2017 2017 2018 2017
Tengible Assets
- Air Conditioner 131421 29,297 - 160718 13316 54607 67923 92795 118105
- BIOMAX biometric - 9195 - 9195 - 2634 2634 6561 -
- Camera & CCTV 159930 27,423 - 187353 11596 54186 65782 121571 148334
- Car 3138105 - - 3138105 190597 920636 1111233 2026872 2947508
- Computer & 101788 110825 - 212613 24677 86846 111523 101090 77111
Accessories
- Computer Software 36000 - - 36000 15293 13078 28371 7629 20707
A/c
- Electric Equipments 26161 - - 26161 12418 6194 18612 7549 13743
& Fittings
- Furniture & Fixture 44842 - - 44842 8021 9532 17553 27289 36821
- Honda Aviator 23291 - - 23291 1172 6909 8081 15210 22119
- Laptop 65350 - - 65350 8059 36185 44244 21106 57291
- Orient Fan 3,347 - 3347 - 4 4 3343 -
- Mobile Phone 95948 108518 - 204466 4828 58369 63197 141269 91120
- Mercedes Car - 3134189 - 3134189 - 120692 - 3013497 -
- Motor cycle 58865 - - 58865 2962 17461 20423 38442 55903
- Plant & Machinery 36848 - - 36848 1295 6437 7732 29116 35553
- Refrigerataor 9248 - - 9248 465 3959 4424 4824 8783
- Storage Tank - 199500 - 199500 - 73413 73413 126087 -
- Television 22610 - - 22610 1138 9678 10816 11794 21472
- Weight Machine 6970 - - 6970 351 2983 3334 3636 6619
Total 3957377 3622294 0 7579671 296188 1483802 1659300 5799681 3661189
14 Trade Receivable:
Particulars As At 31-03-2018 As At 31-03-2017
Rs Rs
Sundry Debtors
Debtors due for period more than 6 months 59,789,015 -
Debtors due for period less than 6 months 137,039,271 158,416,645
Closing Balance 196,828,286 158,416,645
17 Inventories:
Particulars From 01/04/2017 From 01/04/2016
TO 31/03/2018 TO 31/03/2017
Finished Goods 64,594,569 15,034,768
Total 64,594,569 15,034,768
19 Other Income
Particulars From 01/04/2017 From 01/04/2016
TO 31/03/2018 TO 31/03/2017
Freight - 50,000
Discount 114,357
Interest Income 549,290 355
Misc Income - 49,917
TOTAL RS : 663,647 50,272
21 Employee Emoluments
Particulars From 01/04/2017 From 01/04/2016
TO 31/03/2018 TO 31/03/2017
Staff Salary 4,063,673 1,820,500
Bonus 190,500 -
Director’s Sitting Fees 9,000 -
Director’s Remuneration 1,205,000 635,000
Staff Welfare 165,108 -
Gratuity & PF Exp 375,904 -
ESIC & PF Contribution 362,841 -
TOTAL RS : 6,372,026 2,455,500
22 Finance Cost
Particulars From 01/04/2017 From 01/04/2016
TO 31/03/2018 TO 31/03/2017
Interest on Long Term Loan(Secured) 1,262,367 366,184
Interest on Short Term Loan(Secured) 5,964,805
Other Finance Cost 258,965
TOTAL RS : 7,486,137 366,184
10. AS-28: All the assets have been physically verified by the management during the year and also there is
a regular programme of verification which, in our opinion, is reasonable having regard to the size of the
company and the nature of its assets. No material discrepancies were noticed on such verification.
11. We have verified the vouchers and documentary evidences wherever made available. Where no
documentary evidences were available, we have relied on the authentication given by the Directors.
12. Previous year’s figures have been regrouped / rearrange or reclassified, wherever necessary to conform to
the current years grouping or reclassification.
Kishor Goyal
Date : 25/05/2018 (Partner)
Place : Ahmedabad Membership No: 047286
Kishor Goyal
Date : 25/05/2018 (Partner)
Place : Ahmedabad Membership No: 047286
Kishor Goyal
Date : 25/05/2018 (Partner)
Place : Ahmedabad Membership No: 047286
As per our Report of even date attached here with On behalf of the Board of Directors
For Kishor Goyal & Co. For Bansal Multiflex Limited
(Chartered Accountants)
FRN : 008897N
Sd/- Sd/- Sd/-
Kishor Goyal Anup Bansal Suman Bansal
(Partner) (Director) (Director)
M. No.: 047286 DIN:06735149 DIN:06735151
Sd/-
Place : Ahmedabad Faruk Diwan
Date : 25-05-2018 Company Secretary
2 SHARE CAPITAL :
Particulars As At 31-03-2018
Rs
Authorised :
10000000 Equity Shares of Rs 10/- Each 100,000,000
Issued, Subscribed and Paid up :
7410000 Equity Shares of Rs 10/- Each 74,100,000
74,100,000
Subscribed & Fully Paid Share Capital
7410000 Equity Shares of Rs 10/- Each 74,100,000
74,100,000
TOTAL RS : 74,100,000
7 Trade Payables
Particulars As At 31-03-2018
Rs
Sundry Creditors
Creditors for Goods 66,231,371
Creditors for Exp 1,907,054
Closing Balance 68,138,425
10 Tangible Assets
As at 31.03.2018
Particulars Gross Additions Disposals As at Depreciation & Amortisation Net Carrying Net Carrying
Carrying March 31 Upto Current Total Value As At Value As At
Amount As at 2018 April 1, Year March 31, March 31,
April 1, 2017 2017 2018 2017
Tengible Assets
- Air Conditioner 131421 29,297 - 160718 13316 54607 67923 92795 118105
- BIOMAX biometric - 9195 - 9195 - 2634 2634 6561 -
- Camera & CCTV 159930 27,423 - 187353 11596 54186 65782 121571 148334
- Car 3138105 - - 3138105 190597 920636 1111233 2026872 2947508
- Computer & 101788 110825 - 212613 24677 86846 111523 101090 77111
Accessories
- Computer Software 36000 - - 36000 15293 13078 28371 7629 20707
A/c
- Electric Equipments 26161 - - 26161 12418 6194 18612 7549 13743
& Fittings
- Furniture & Fixture 44842 - - 44842 8021 9532 17553 27289 36821
- Honda Aviator 23291 - - 23291 1172 6909 8081 15210 22119
- Laptop 65350 - - 65350 8059 36185 44244 21106 57291
- Orient Fan 3,347 - 3347 - 4 4 3343 -
- Mobile Phone 95948 108518 - 204466 4828 58369 63197 141269 91120
- Mercedes Car - 3134189 - 3134189 - 120692 - 3013497 -
- Motor cycle 58865 - - 58865 2962 17461 20423 38442 55903
- Plant & Machinery 36848 - - 36848 1295 6437 7732 29116 35553
- Refrigerataor 9248 - - 9248 465 3959 4424 4824 8783
- Storage Tank - 199500 - 199500 - 73413 73413 126087 -
- Television 22610 - - 22610 1138 9678 10816 11794 21472
- Weight Machine 6970 - - 6970 351 2983 3334 3636 6619
Total 3957377 3622294 0 7579671 296188 1483802 1659300 5799681 3661189
14 Trade Receivable:
Particulars As At 31-03-2018
Rs
Sundry Debtors
Debtors due for period more than 6 months 59,789,015
Debtors due for period less than 6 months 137,039,271
Closing Balance 196,828,286
18 Other Income
Particulars From 01/04/2017
TO 31/03/2018
Discount 114,357
Interest Income 549,290
TOTAL RS : 663,647
20 Inventories:
Particulars From 01/04/2017
TO 31/03/2018
Finished Goods 64,594,569
Total 64,594,569
21 Employee Emoluments
Particulars From 01/04/2017
TO 31/03/2018
Staff Salary 4,063,673
Bonus 190,500
Director's Sitting Fees 9,000
Director's Remuneration 1,205,000
Staff Welfare 165,108
Gratuity & PF Exp 375,904
ESIC & PF Contribution 362,841
TOTAL RS : 6,372,026
22 Finance Cost
Particulars From 01/04/2017
TO 31/03/2018
Interest on Long Term Loan(Secured) 1,262,367
Interest on Short Term Loan(Secured) 5,964,805
Other Finance Cost 258,965
TOTAL RS : 7,486,137
Email Id:
Folio No./Client Id:
DP ID:
I/We, being the member (s) of …………. shares of the above named company, hereby appoint
1. Name:
Address:
E-mail Id:
Signature:
2. Name:
Address:
E-mail Id:
Signature:
3. Name:
Address:
E-mail Id:
Signature:
ATTENDANCE SLIP
Name of Proxy :
I hereby record my presence at the Annual General Meeting being held on Friday, 27th July, 2018 at 03.00 P.M. at
72, The Nutan Guj. Co Op Shops and Warehouses Soc. O/s. Raipur Gate, Near Laxmi Cotton Mill, Ahmedabad – 380022
Gujarat.
Regd. Folio No.
DP Id*
Client Id* Member’s/Proxy’s Signature
No. of Share held (To be signed at the time of handling over the slip)
* Applicable for members holding shares in dematerialised form.
Note : Persons attending the Annual General Meeting are requested to bring their copies of Annual Report.
Resolution Particulars
No.
1. To receive, consider and adopt :-
(a) the audited Standalone Financial Statement of the Company for the financial year ended March
31, 2018 and the reports of the Board of Directors and Auditors thereon; and
(b) the audited Consolidated Financial Statement of the Company for the financial year ended
March 31, 2018 and the reports of the Board of Directors and Auditors thereon.
2. To appoint a Director in place of Mrs. Suman Anup Bansal (DIN: 06735151) who retires by rotation
and being eligible, offers herself for re-appointment.
3. Revision in the remuneration of Mr. Anupkumar Bansal (DIN: 06735149), Managing Director of the
Company.
4. Revision in the remuneration of Mrs. Suman Anup Bansal (DIN: 06735151), Whole-time Director of
the Company.
Note: This form of proxy in order to be effective should be duly completed and deposited at the Registered Office of
the Company, not less than 48 hours before the commencement of the Meeting.