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Directors Report of Dhampur Bio Organics Ltd.
Mar 31, 2026
Your Directors are pleased to present the 6th Annual Report on the business and operations of the Company together with the Audited
Financial Statements for the financial year ended March 31,2026.
The Company''s financial performance for the year under review along with previous year''s figures are given hereunder:
Financial Highlights: (H in Crore)
|
Particulars |
Consolidated |
Standalone |
||
|
For the year ended |
For the year ended |
For the year ended |
For the year ended |
|
|
Revenue from operations |
3133.41 |
2692.98 |
3106.17 |
2714.40 |
|
Profit before finance costs, tax, depreciation |
162.69 |
138.46 |
162.01 |
143.64 |
|
and amortization, exceptional items and other |
||||
|
comprehensive income |
||||
|
Less: Finance costs |
62.98 |
67.10 |
62.96 |
66.99 |
|
Less: Depreciation and Amortization expense |
58.81 |
53.89 |
58.76 |
53.85 |
|
Less: Exceptional items |
--- |
1.76 |
--- |
4.96 |
|
Profit before Tax after exceptional items |
40.90 |
15.71 |
40.29 |
17.84 |
|
Provision for Tax |
15.72 |
1.02 |
15.32 |
5.75 |
|
Net Profit for the year |
25.18 |
14.69 |
24.97 |
12.09 |
|
Other comprehensive income (net of tax) |
2.66 |
2.03 |
0.04 |
1.31 |
|
Total comprehensive income for the year |
27.84 |
16.72 |
25.01 |
13.40 |
The key operational data of the Company is as under:
Sugar operations at a glance
|
Particulars |
For the year ended |
For the year ended |
|
Cane crushed (in lakh ton) |
32.92 |
34.98* |
|
Net Recovery (%) |
10.74 |
9.80 |
|
Sugar Produced from Cane (in lakh ton) |
3.54 |
3.10 |
*No cane diverted for syrup derived ethanol in FY 2025-26 as against 3.37 lakh tons in FY 2024-25.
Renewable Energy operations at a glance
|
Particulars |
For the year ended |
For the year ended |
|
Power generated (in Cr. units) |
23.84 |
23.33 |
|
9.06 |
7.10 |
Bio Fuels and Spirits operations at a glance
|
Particulars |
For the year ended |
For the year ended |
|
Ethanol produced (in lakh bulk litres) |
^^^^^^¦680.9 |
609.8 |
Country liquor
|
Particulars |
For the year ended |
For the year ended |
|
Sales (No. of cases) |
^^^^¦44,12,534 |
37,64,355 |
COMPANY''S PERFORMANCE DURING FY 2025-26
Company''s Performance during financial year 2025-26 has been
explained in Management Discussion and Analysis Report which
forms an integral part of this Annual Report.
The Company had received requests from certain promoters i.e.
Mrs. Ritu Sanghi, Mrs. Aparna Jalan and Mrs. Shefali Poddar for
reclassification of their status from "Promoter Category to Public
Category". In view of the same, the Company filed the application
with both the Stock Exchanges i.e. BSE and NSE on November
29, 2024 and the same was approved by both BSE Limited ("BSE")
and the National Stock Exchange of India Limited ("NSE") on July
24, 2025.
CONSOLIDATED FINANCIAL STATEMENTS AND
SUBSIDIARY/ ASSOCIATE & JOINT VENTURE
COMPANIES
During the financial year under review, the Company has two wholly
owned subsidiaries namely Sonitron Bio Organics Private Limited
("SBOPL") and Dhampur International Pte Ltd. ("DIPL").
DIPL has total revenue of H1.15 Crores for the year ended March 31,
2026 as compared to last year''s revenue of H17.68 Crores, whereas
SBOPL has total revenue of H149.47 Crores for the year ended March
31,2026 as compared to last year''s revenue of H57.49 Crore .
Pursuant to Section 129(3) of the Companies Act, 2013 read with
Rule 5 of the Companies (Accounts) Rules, 2014, a report on the
performance and financial position of the Subsidiary Companies i.e.
Dhampur International Pte. Ltd. and Sonitron Bio Organics Private
Limited, as per Companies Act, 2013 is given in the Form AOC 1 as
Annexure 1 which forms an integral part of this Report.
The Board of Directors in their meeting held on February 26, 2026
approved to incorporate a wholly owned subsidiary in Dubai. A
new wholly owned subsidiary in the name of DBOL International
Food and Beverages Trading FZE has been incorporated in Jebel Ali
Free Zone, Dubai, United Arab Emirates (UAE) and its certificate of
incorporation was issued by in Jebel Ali Free Zone Authority on May
12, 2026.
Further, on May 30, 2026, the Board approved the acquisition of up to
100% equity stake in Sonitron Chemicals Private Limited (proposed
to be renamed as DBION Private Limited), subject to completion of
necessary formalities and applicable approvals.
Audited Financial Statements of the subsidiary companies for
financial year 2025-26 have been placed on the website of the
Company at https://www.dhampur.com/subsidiary/ and are
available for inspection at the Company''s registered office.
CHANGE IN THE NATURE OF BUSINESS
During the financial year under review, there was no change in the
nature of business of the Company.
Your Directors are pleased to recommend a final dividend of H1.50
per equity share of H10 each for the financial year 2025-26, which if
approved at the forthcoming Annual General Meeting (AGM), will
be paid to all those Equity Shareholders of the Company whose
names appear in the Register of Members and whose names
appear as beneficial owners as per the beneficiary list furnished for
the purpose by National Securities Depository Limited ("NSDL") and
Central Depository Services (India) Limited ("CDSL") as on record date
fixed for this purpose. The Dividend Distribution Policy as approved
by the Board is uploaded on the Company''s website under the head
''Policies'' at https://www.dhampur.com/investor/other-disclosures.
The Company has earned Net Profit after tax of H24.97Crores for
the year ended March 31, 2026 which has been accumulated in
Retained Earnings. During the year under review, the Company has
transferred H0.22 Crores to Molasses Reserve Fund.
The share capital of the Company, as on March 31,2026, is as under:
|
Authorised Share Capital |
Amount (in J) |
|
9,16,00,000 Equity Shares of H10 each |
91,60,00,000 |
|
Total |
91,60,00,000 |
|
Issued, Subscribed and Paid-up |
Amount (in J) |
|
6,63,87,590 Equity shares of H10 each |
66,38,75,900 |
|
Total |
66,38,75,900 |
During the financial year under review, the Company has neither
issued shares with differential voting rights as to dividend, voting or
otherwise nor issued shares (including sweat equity shares) to the
employees or Directors of the Company under any scheme. Also,
the Company has not issued any convertible instrument during
the year.
BOARD OF DIRECTORS AND KEY MANAGERIAL
PERSONNEL
We regret to mention the sad demise of our Chairman, Mr. Vijay
Kumar Goel, on May 10, 2026. Born into an era when India''s sugar
industry was still finding its footing, Mr. Goel dedicated his life to
building what became one of the most respected integrated
sugarcane enterprises in the Country, shaped by his belief that a
business must serve its farmers, its people, and its nation in equal
measure. With over six decades of dedicated service to the sector,
he spearheaded many innovations and transformational initiatives.
His legacy and wisdom will continue to guide us, and we remain
committed to carrying forward the values he stood for with great
responsibility and purpose.
During the financial year under review, there was no change in the
composition of the Board of Directors of the Company.
However, Mr. Ashwani Kumar Gupta (DIN: 00108678), Mr. Kishor
Shah (DIN: 00193288), Mrs. Ruchika Amrish Mehra Kothari (DIN:
09151323), Mr. Vishal Saluja (DIN: 07145715) and Mr. Samir Thukral
(DIN: 00203124) were reappointed as Independent Director for a
second term of Five years with effect from April 18, 2026 with the
approval of shareholders accorded through Postal Ballot on May
4, 2025.
Further, in the meeting of Board of Directors held on May 2, 2025,
based on the recommendations of Nomination and Remuneration
Committee and Audit Committee, Late Mr. Vijay Kumar Goel was
re-appointed as Chairman and Executive Director with effect from
May 5, 2025 for a period of three years, Mr. Gautam Goel was re¬
appointed as Managing Director and Chief Executive Officer with
effect from May 5, 2025 for a period of three years and Mr. Sandeep
Kumar was appointed as Whole time Director with effect from
May 5, 2025 for a period of one year. The said appointments were
approved by the shareholders in the Annual General Meeting held
on July 11,2025.
Further, in the meeting of Board of Directors held on April 20, 2026,
based on the recommendation of Nomination and Remuneration
Committee, the Board approved the change in designation of
Mr. Sandeep Kumar (DIN: 06906510) from Executive Director to Non¬
Executive Director of the Company with effect from May 5, 2026, on
completion of his tenure as Wholetime Director of the Company.
Further, based on the recommendation of Nomination and
Remuneration Committee, the Board approved the appointment of
Mr. Nalin Kumar Gupta (DIN: 01670036), Chief Financial Officer of
the Company as Wholetime Director (Additional) for a term of three
years with effect from May 5, 2026. Hence, he will be designated as
Wholetime Director and CFO of the Company w.e.f. May 5, 2026. The
approval of shareholders for change in designation of Mr. Sandeep
Kumar and appointment of Mr. Nalin Kumar Gupta was accorded in
the Extra Ordinary General Meeting of the Company held on May
18, 2026.
In the meeting of Board of Directors held on May 30, 2026, based
on the recommendation of Nomination and Remuneration
Committee, the Board approved re-designation of Mr. Gautam Goel,
Managing Director and Chief Executive Officer as Chairman and
Chief Executive Officer of the Company with effect from May 31,
2026, subject to the approval of shareholders at the ensuing AGM.
Presently, the Company''s Board comprises of 9 (nine) Directors.
Besides Chairman & CEO who is Executive Promoter Director, the
Board has 1 (one) Whole Time Director, 1 (one) Non-Executive
Promoter Director, 1 (one) Non-Executive Non-Independent Director
and 5 (five) Non- Executive Independent Directors including 1 (one)
Non-Executive Independent Woman Director.
Directors Retiring by Rotation
In order to comply with the provisions of Companies Act, 2013
and Articles of the Company, Mr. Gautam Goel, Managing Director
and CEO (DIN: 00076326) will retire by rotation at the ensuing
Annual General Meeting and being eligible offers himself for
re-appointment.
Brief profile of the Director seeking re-appointment have been
given as an annexure to the Notice of the ensuing AGM.
Declaration by Independent Directors
The Independent Directors of your Company have confirmed
that they meet the criteria of Independence as prescribed under
Section 149 of the Companies Act, 2013 and Regulation 16 of the
SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015 (herein after referred to as "Listing Regulations") and they
are not aware of any circumstance or situation, which could
impair or impact their ability to discharge duties with an objective
independent judgement and without any external influence.
POLICY ON DIRECTORS'' APPOINTMENT AND
REMUNERATION
The Company has formulated Nomination and Remuneration Policy
in accordance with Section 178 of the Act and Regulation 19 read
with Schedule II of the Listing Regulations. Details of the said policy
have been disclosed in the Corporate Governance Report attached
to this Report. The said policy is also available on the website of the
Company under the head ''Policies'' at https://www.dhampur.com/
other-disclosures/.
ANNUAL PERFORMANCE EVALUATION OF BOARD,
ITS COMMITTEESS AND DIRECTORS
Details pertaining to the way evaluation of the Board, its committees
and individual Directors has been carried out, form part of Corporate
Governance Report.
FAMILIARISATION PROGRAM FOR INDEPENDENT
DIRECTORS
All Independent Directors are familiarised with the operations and
functioning of the Company at the time of their appointment and
on an ongoing basis. The details of familiarisation program are
provided in the Corporate Governance Report and is also available
on the website of the Company under the head ''Policies'' at https://
www.dhampur.com/other-disclosures/.
DIRECTORS RESPONSIBILITY STATEMENT
In accordance with the provisions of Section 134(5) of the
Companies Act, 2013, your Directors 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, if any;
b) the Directors had selected such accounting policies and applied
them consistently and made judgements 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 and Loss (including other comprehensive
income) of the Company for that period;
c) the Directors had taken proper and sufficient care for the
maintenance of adequate accounting records in accordance
with the provisions of Companies Act, 2013 for safeguarding
the assets of the Company and for preventing and detecting
fraud and other irregularities;
d) the annual accounts have been prepared on a going
concern basis;
e) the Directors had laid down Internal Financial controls to be
followed by the Company and that such Internal Financial
Controls are adequate and operating effectively; and
f) the Directors, had devised proper systems to ensure compliance
with the provisions of all applicable laws and that such systems
are adequate and operating effectively.
During the financial year under review, the Company did not
invite or accept any deposits from the public falling under the
ambit of Section 73 and 76 of the Companies Act, 2013 and rules
framed thereunder.
PARTICULARS OF LOANS, GUARANTEES OR
INVESTMENT
Details of Loans, Guarantees and Investments covered under the
provisions of Section 186 of the Companies Act, 2013 are given
in the relevant notes to Financial Statements forming part of this
Annual Report.
MATERIAL CHANGES DURING THE YEAR
During the financial year under review, the Board suggested a
change of name of the Company. However the proposal did not
receive the requisite approval , and was therefore not approved by
the shareholders of the Company.
There have been no material changes affecting the financial
position of the Company which have occurred between the end
of the financial year of the Company and the date of the Report
except that the shareholders in their extra ordinary general meeting
held on May 18, 2026 approved the transfer of Meerganj unit of the
Company, as going concern, by way of slump sale. Furthermore,
on May 30, 2026, the shareholders approved the amendment of
the Articles of Association of the Company by insertion of Article
125A after Article 125, enabling the appointment of the Managing
Director and/or Chief Executive Officer as Chairman, subject to
approval in the ensuing AGM.
During the financial year under review, the Company launched
Employee Stock Option Scheme ("ESOS 2025") as a strategic
instrument to cultivate a culture of ownership, long-term thinking,
and innovation among our team members. The ESOSs are designed
to align our people with the Company''s growth and success. We aim
to reward merit and encourage an entrepreneurial mind-set. This
approach not only aids in attracting and retaining top talent but
also fosters a sense of accountability and shared purpose, driving
our collective journey towards enduring success.
During the financial year under review, the Company formulated
ESOS 2025 pursuant to the resolution passed by the shareholders
on May 04, 2025 through postal ballot. Further, the shareholders
vide special resolution dated May 04, 2025 approved providing
interest free loan to Trust for implementation of ESOS 2025 through
Trust. Accordingly, the Company has provided interest free loan to
the Trust for the aforesaid purpose. As on financial year ended on
March 31,2026, the Company has only one employees stock option
plan i.e. DBO Employee Stock Option Scheme, 2025.
In accordance with the terms of ESOS Scheme, options may be
granted to employees of the Company and its subsidiaries which
gives them rights to receive equity shares of the Company having
face value of INR 10/- (Indian rupee ten) each upon exercise.
The Company confirms that the ESOS 2025 Scheme is in compliance
with the Securities and Exchange Board of India (Share Based
Employee Benefits and Sweat Equity) Regulations, 2021 ("SEBI SBEB
Regulations").The Company has also obtained certificates from
the Secretarial Auditors confirming that ESOS 2025 have been
implemented in accordance with the SEBI SBEB Regulations and the
resolutions passed by the shareholders of the Company. The said
certificate will be made available for inspection by the members
electronically during the AGM of the Company. Further, the details
as required to be disclosed under Regulation 14 of the SEBI SBEB
Regulations is uploaded on the Company''s website under the head
''Shareholders Meeting'' at https://www.dhampur.com/investor/
financials/
There are no materially significant related party transactions made
by the Company with Promoters, Directors or Key Managerial
Personnel etc. which may have potential conflict with the interest
of the Company at large.
The Policy on Related Party Transactions as approved by the Board
of Directors is uploaded on the Company''s website under the head
''Policies'' at https://www.dhampur.com/other-disclosures/.
Disclosure of Related Party Transactions is set out in Note No. 46 of
the Standalone Financial Statements.
All transactions entered with Related Parties for the financial year
under review were on arm''s length basis and in the ordinary course
of business and the provisions of Section 188 of the Companies Act,
2013 and Rules made there under are not attracted. Thus, disclosure
in Form AOC-2 in terms of Section 134 of Companies Act, 2013 is
not required.
Details of Credit Ratings assigned to the Company are given in the
Corporate Governance report.
AUDITORS
Statutory Auditors and their Audit Report
M/s. Mittal Gupta & Co., Chartered Accountants, (ICAI Firm
Registration number 001874C) was appointed as Statutory Auditors
of the Company for a period of five years commencing from the
conclusion of the 1st Annual General Meeting (AGM) until the
conclusion of the 6th Annual General Meeting to be held for the
financial year 2025-26.
In terms of the provisions of the Companies Act, 2013, an audit
firm acting as the statutory auditor of a company is eligible to be
appointed as statutory auditors for two terms of five years each. The
first term of Mittal Gupta & Co., as statutory auditors of the Company
expires at the conclusion of the ensuing 6th AGM of the Company.
Considering their performance as auditors of the Company during
their present tenure, the Audit Committee of the Company, after due
deliberation and discussion, recommended the re-appointment
of Mittal Gupta & Co., as statutory auditors of the Company for a
second term of five years to hold office from the conclusion of the
6th AGM through the conclusion of the 11th AGM of the Company
to be held in the year 2031. Further, the remuneration to be paid to
Statutory Auditors during tenure of their second term as Statutory
Auditors shall be mutually agreed between the Board of Directors
and Mittal Gupta & Co., from time to time.
The above proposal forms part of the Notice convening the ensuing
AGM for your approval.
The report given by the Auditors on the Standalone and
Consolidated Annual Financial Statements of the Company for the
year ended March 31, 2026 forms part of this Annual Report. The
Auditor''s comments on the Company''s account are self-explanatory
in nature and do not require any explanation. Further, there is no
qualification, reservation, adverse remark or disclaimer given by the
Auditors in their reports.
The Auditors of the Company have not reported any fraud in terms
of the second proviso to Section 143(12) of the Companies Act, 2013
and therefore no detail is required to be disclosed under Section
134 (3)(ca) of the Companies Act, 2013.
Cost Accounts and Cost Auditors
The Company is required to maintain cost records as specified by
the Central Government under sub-section (1) of Section 148 of the
Companies Act, 2013 and accordingly such accounts and records
are made and maintained by the Company.
As per the requirement of Central Government and pursuant to
Section 148 of the Companies Act, 2013 read with the Companies
(Cost Records and Audit) Rules, 2014 as amended from time to
time, the Board of Directors has on the recommendation of Audit
Committee appointed Mr. S.R. Kapur, Cost Accountant as Cost
Auditors to audit the Cost Accounts of the Company for the year
ended March 31,2027. As required under the Companies Act, 2013
the remuneration payable to Cost Auditors is required to be placed
before the members in ensuing Annual General Meeting for their
ratification. Accordingly, a resolution seeking member''s ratification
for the remuneration payable to Mr. S.R. Kapur, Cost Auditors of the
Company is included in the Notice convening the ensuing Annual
General Meeting of the Company.
Secretarial Auditors and Secretarial Audit Report
Pursuant to the provisions of Section 204 of the Companies Act,
2013 and rules made there under, M/s. GSK & Associates, Company
Secretaries had been appointed to undertake the Secretarial Audit
of the Company for a term of five years, beginning from financial
year April 1, 2025, by the shareholders in the last Annual General
Meeting held on July 11,2025. The Secretarial Audit Report for the
financial year 2025-26 is annexed as Annexure - 2 and forms an
integral part of this report.
Annual Secretarial Compliance Report as required under Regulation
24A of Listing Regulations, as amended is also annexed as Annexure
- 2A and forms an integral part of this report.
The comments of Secretarial Auditor are self-explanatory in nature
and do not require any explanation. Further, there is no qualification,
reservation, adverse remark or disclaimer given by the Secretarial
Auditors in their report(s).
REPORTING OF FRAUDS BY AUDITORS
During the financial year under review, the statutory auditor and the
secretarial auditor has not reported any instance of fraud committed
in the Company by its officers or employees.
The Company has adequate Internal Control system with reference
to the financial statements and commensurate with the size and
scale of its operations. The Internal Auditors evaluate the efficacy
and adequacy of internal control system, accounting procedures
and policies adopted by the Company for efficient conduct of its
business, prevention and detection of frauds and errors. Based on
the report of internal audit, corrective actions are undertaken by the
Company, which are reviewed periodically.
MANAGEMENT DISCUSSION AND ANALYSIS
The Management Discussion and Analysis Report on the operations
of the Company, is provided in a separate section and forms an
integral part of this Annual Report.
CORPORATE GOVERNANCE
In accordance with Listing Regulations, a separate report on
Corporate Governance is given along with the Secretarial Auditors''
Certificate on its compliance in the Annual Report. The Certificate
does not contain any qualification, reservation or adverse remark.
BUSINESS RESPONSIBILITY AND SUSTAINABILITY
REPORT
As per Regulation 34 of Listing Regulations, Business Responsibility
and Sustainability Report for financial year 2025-26 is annexed as
Annexure 3 to this Report.
COMPLIANCE WITH SECRETARIAL STANDARDS
The Company complies with all the applicable mandatory Secretarial
Standards issued by the Institute of Company Secretaries of India.
NUMBER OF BOARD MEETINGS HELD DURING
THEYEAR
The Board of Directors met 6 (six) times during the financial year
2025-26 on April 2, 2025; May 2, 2025; July 28, 2025; November 13,
2025, January 21,2026 and February 26, 2026 respectively. Time gap
between any of the two consecutive meetings does not exceed
120 days.
COMMITTEES OF THE BOARD
The Board of Directors have following Committees:
Mandatory Committees
¦ Audit Committee.
¦ Nomination and Remuneration Committee.
¦ Stakeholders'' Relationship Committee.
¦ Corporate Social Responsibility Committee.
¦ Risk Management Committee
Non-Mandatory Committees
¦ Management Committee
Details of the Committees are provided in the Corporate
Governance Report.
CORPORATE SOCIAL RESPONSIBILITY (CSR)
During the financial year 2025-26, the Company has spent H55.15
lakhs towards CSR expenditure. The initiatives undertaken by the
Company were focused on education and healthcare. The Corporate
Social Responsibility Policy as approved by the Board is uploaded
on the Company''s website under the head ''Policies'' at https://www.
dhampur.com/other-disclosures/
The Company''s CSR Policy statement and annual report on CSR
activities undertaken by the Company during the financial year as
per provisions of Section 135 of the Companies Act, 2013 read with
the Companies (The Corporate Social Responsibility Policy) Rules,
2014 ("CSR Rules") is set out in Annexure - 4 to this Report.
DETAILS OF UNPAID AND UNCLAIMED DIVIDEND
AND INVESTOR EDUCATION AND PROTECTION FUND
In terms of the provisions of section 124(6) of Companies Act,
2013 read with Investor Education and Protection Fund Authority
(Accounting, Audit, Transfer and Refund) Rules, 2016, during the
financial year under review, the Company transferred the amount
of final dividend declared for financial year 2024-25 amounting to
H2,23,595 to the Investor Education and Protection Fund pertaining
to shares lying in IEPF Account.
RISK MANAGEMENT
Risk is an integral part of business and therefore, the Company has
formed a Risk Management Policy laying the framework to identify
and mitigate the risks, whether internal or external, which could
materially impact operations of the Company. The Risk Management
Committee constituted by the Board of Directors of the Company
monitors and assess risks management process. There are no risks
which, in the opinion of the Board, threaten the very existence of
your Company.
The Risk Management Policy as approved by the Board is uploaded
on the Company''s website under the head ''Policies'' at www.
dhampur.com/other-disclosures/policies
VIGIL MECHANISM/ WHISTLE BLOWER POLICY
This policy provides a secure avenue to directors, employees,
business associates and other stakeholders of the Company for
raising their concerns against the unethical practices.
Further, the Policy also provides adequate safeguards to the
whistle blower by keeping his identity confidential and prevent
victimization of persons who may use such mechanism.
The Vigil Mechanism/Whistle Blower Policy as approved by the
Board is uploaded on the Company''s website under the head
''Policies'' at https://www.dhampur.com/other-disclosures/
DISCLOSURE UNDER THE SEXUAL HARASSMENT
OF WOMEN AT WORKPLACE (PREVENTION,
PROHIBITION AND REDRESSAL) ACT, 2013
The Company has in place an Anti-Sexual Harassment Policy in
line with the requirements of The Sexual Harassment of Women
at Workplace (Prevention, Prohibition and Redressal) Act, 2013.
All employees (permanent, contractual, temporary, trainees) are
covered under this policy. The Company has complied with the
provisions relating to the constitution of the Internal Complaints
Committee under the POSH Act.
The following is a summary of sexual harassment complaints
received and disposed during the financial year 2025-26.
|
No. of complaints received during the financial year |
0 |
|
No. of complaints disposed during the financial year |
0 |
|
No. of complaints pending for more than 90 days |
0 |
STATEMENT BY THE COMPANY WITH RESPECT TO
THE COMPLIANCE TO THE PROVISIONS RELATING
TO THE MATERNITY BENEFITS ACT, 1961.
The Company has complied with the provisions of the Maternity
Benefit Act, 1961, as applicable, and has provided maternity benefits
to eligible employees in accordance with the provisions of the
said Act.
CONSERVATION OF ENERGY, TECHNOLOGY
ABSORPTION, FOREIGN EXCHANGE EARNINGS
AND OUTGO
Details of conservation of energy, technology absorption, foreign
exchange earnings and outgo pursuant to Section 134 (3)(m) of
the Companies Act, 2013 read with the Rule 8(3) of the Companies
(Accounts) Rules, 2014 is annexed as Annexure - 5 and forms an
integral part of this report.
ANNUAL RETURN
According to the provisions of Section 92(3) of the Companies
Act, 2013 read with Companies (Management and Administration)
Rules, 2014, The draft Annual Return of the Company in Form MGT-
7 has been placed on the Company''s website under the head
''Shareholders Meeting'' at https://www.dhampur.com/investor/
financials/
SIGNIFICANT AND MATERIAL ORDERS PASSED
BY THE REGULATORS OR COURTS OR TRIBUNALS
IMPACTING THE GOING CONCERN STATUS AND
COMPANY''S OPERATIONS IN FUTURE
There was no such order passed by the regulators or courts or
tribunals impacting the going concern status and Company''s
operations in future.
DETAILS OF APPLICATION MADE OR ANY
PROCEEDING PENDING UNDER THE INSOLVENCY
AND BANKRUPTCY CODE, 2016 (31 OF 2016)
No application or any proceeding has been filed against the
Company under the Insolvency and Bankruptcy Code, 2016 during
the financial year under review.
HUMAN RESOURCES AND INDUSTRIAL RELATIONS
The Company takes pride in the commitment, competence and
dedication of its employees in all areas of the business. The Company
has structured induction process at all locations and management
development programmes to update skills of managers. Industrial
relations remained cordial and harmonious during the year.
STATUTORY INFORMATION
The Disclosure required under Section 197(12) of the Companies
Act, 2013 read with the Rule 5(1) of the Companies (Appointment
and Remuneration of Managerial Personnel) Rules, 2014 is annexed
as Annexure - 6 and forms an integral part of this Report.
A statement furnishing the names of Top Ten employees in terms of
remuneration drawn and persons employed throughout the year,
who were in receipt of remuneration in terms of Section 197(12)
of the Companies Act, 2013 read with Rule 5(2) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules,
2014, is annexed as Annexure - 6A and forms an integral part of this
Report. The said annexure is not being sent along with this Annual
Report to the Members of the Company in line with the provisions
of Section 136 of the Companies Act, 2013. Members who are
interested in obtaining these particulars may write to the Company
Secretary and the same will be furnished on request.
DIFFERENCE BETWEEN AMOUNT OF THE
VALUATION DONE AT THE TIME OF ONE TIME
SETTLEMENT AND THE VALUATION DONE
WHILE TAKING LOAN FROM THE BANKS OR
FINANCIAL INSTITUTIONS
The requirement to disclose the details of difference between
amount of the valuation done at the time of onetime settlement
and the valuation done while taking loan from the Banks or Financial
Institutions along with the reasons thereof is not applicable.
ACKNOWLEDGEMENTS
Your Directors would like to acknowledge and place on record their
sincere appreciation to the shareholders for their confidence in the
management of the Company and gratitude to the Government of
India, State Governments and Company''s Bankers for the assistance,
co-operation and encouragement they extended to the Company.
Your Directors also wish to place on record their sincere thanks
and appreciation for the continuing support of investors, vendors,
dealers, business associates, the cane growers for their efforts in
ensuring timely cane supply. Your Directors recognize and appreciate
the efforts and hard work of all the employees of the Company and
their continued contribution to promote its development.
For and on behalf of the Board of Directors
Ashwani Kumar Gupta Gautam Goel
Vice Chairman Managing Director & CEO
DIN:00108678 DIN:00076326
Mar 31, 2025
Your Directors are pleased to present the 5th Annual Report on the business and operations of the Company together with the Audited Financial Statements for the financial year ended March 31,2025.
|
Particulars |
Consolidated For the year ended For the year ended March 31, 2025 March 31, 2024 |
(H in Crore) Standalone For the year ended For the year ended March 31, 2025 March 31, 2024 |
||||
|
Revenue from operations |
2692.98 |
2,394.42 |
2714.40 |
2361.16 |
||
|
Profit before finance costs, tax, depreciation and amortization, exceptional items and other comprehensive income |
138.46 |
160.30 |
143.64 |
161.60 |
||
|
Less: Finance costs |
67.10 |
45.33 |
66.99 |
45.27 |
||
|
Less: Depreciation and Amortization expense |
53.89 |
49.48 |
53.85 |
49.46 |
||
|
Less: Exceptional items |
1.76 |
- |
4.96 |
- |
||
|
Profit before Tax after exceptional items |
15.71 |
65.49 |
17.84 |
66.87 |
||
|
Provision for Tax |
1.02 |
19.00 |
5.75 |
18.05 |
||
|
Net Profit for the year |
14.69 |
46.49 |
12.09 |
48.82 |
||
|
Other comprehensive income (net of tax) |
2.03 |
(0.93) |
1.31 |
(0.91) |
||
|
Total comprehensive income for the year |
16.72 |
45.56 |
13.40 |
47.91 |
||
|
OPERATIONAL PERFORMANCE The key operational data of the Company is as under: Sugar operations at a glance Particulars |
For the year ended March 31, 2025 |
For the year ended March 31, 2024 |
||||
|
Cane crushed (in lakh ton) |
34.98* |
41.44* |
||||
|
Net Recovery (%) |
9.80 |
10.32 |
||||
|
Sugar Produced from Cane (in lakh ton) |
3.10 |
4.23 |
||||
|
*Includes 3.37 lakh tons (0.31 lakh tons in FY 2023-24) of cane diverted towards syrup derived ethanol in FY 2024-25. Renewable Energy operations at a glance |
||||||
|
Particulars |
For the Year ended March 31, 2025 |
For the Year ended March 31, 2024 |
||||
|
Power generated (in Cr. units) |
23.33 |
30.25 |
||||
|
Power sold to UPPCL (in Cr. units) |
7.10 |
9.68 |
||||
|
Bio Fuels and Spirits operations at a glance |
||
|
Particulars |
For the Year ended March 31, 2025 |
For the Year ended March 31, 2024 |
|
Ethanol produced (in lakh bulk litres) |
609.8 |
931.4 |
|
Country liquor |
||
|
Particulars |
For the Year ended March 31, 2025 |
For the Year ended March 31, 2024 |
|
Sales (No. of cases) |
37,64,355 |
25,04,325 |
COMPANY''S PERFORMANCE DURING FY 2024-25
Company''s Performance during financial year 2024-25 has been explained in Management Discussion and Analysis Report which forms an integral part of this Annual Report.
Pursuant to the Order dated April 27, 2022, issued by the Hon''ble National Company Law Tribunal ("NCLT"), Allahabad Bench, approving the Scheme of Arrangement between Dhampur Sugar Mills Limited and Dhampur Bio Organics Limited and their respective shareholders and creditors ("Scheme"), and in accordance with the relevant clause of the Scheme, the application for reclassification of promoters was filed on June 09, 2023. The said application was subsequently approved by both BSE Limited ("BSE") and the National Stock Exchange of India Limited ("NSE") on July 09, 2024.
Further, the Company has received requests from certain promoters i.e. Mrs. Ritu Sanghi, Mrs. Aparna Jalan and Mrs. Shefali Poddar for reclassification of their status from "Promoter Category to Public Category" In view of the same, The Company filed the application with both the Stock Exchanges i.e. BSE and NSE on November 29,
2024 and the same is pending for approval.
CONSOLIDATED FINANCIAL STATEMENTS AND SUBSIDIARY/ ASSOCIATE & JOINT VENTURE COMPANIES
Sonitron Bio Organics Private Limited ("SBOPL") is a Company incorporated under the Companies Act, 2013 on November 08, 2023, which was later acquired by the Dhampur Bio Organics Limited on November 27, 2024. Consequent upon such acquisition, SBOPL became the wholly owned subsidiary of the Company. Accordingly, during the financial year under review, the Company has two wholly owned subsidiaries namely SBOPL and Dhampur International Pte Ltd. ("DIPL").
DIPL has total revenue of H 17.68 Crores for the year ended March 31,
2025 as compared to last year''s revenue of H 63.92 Crores, whereas
SBOPL has total revenue of H57.49 Crores for the year ended March 31,2025 as compared to last year''s revenue of H0.01 Crore .
Pursuant to Section 129(3) of the Companies Act, 2013 read with Rule 5 of the Companies (Accounts) Rules 2014, a report on the performance and financial position of the Subsidiary Companies i.e. Dhampur International Pte. Ltd. and Sonitron Bio Organics Private Limited, as per Companies Act, 2013 is given in the Form AOC 1 as Annexure 1 which forms an integral part of this Report.
Audited Financial Statements of the subsidiary companies for financial year 2024-25 have been placed on the website of the Company at https://www.dhampur.com/subsidiary and are available for inspection at the Company''s registered office.
CHANGE IN THE NATURE OF BUSINESS
During the financial year under review, there was no change in the nature of business of the Company.
Your Directors'' are pleased to recommend a final dividend of H1.25 per equity share of H10 each for the financial year 2024-25, which if approved at the forthcoming Annual General Meeting, will be paid to all those Equity Shareholders of the Company whose names appear in the Register of Members and whose names appear as beneficial owners as per the beneficiary list furnished for the purpose by National Securities Depository Limited ("NSDL") and Central Depository Services (India) Limited ("CDSL") as on record date fixed for this purpose. The Dividend Distribution Policy as approved by the Board is uploaded on the Company''s website under the head ''Policies'' at https://www.dhampur.com/investor/other-disclosures.
The Company has earned Net Profit after tax of H12.09 Crores for the year ended March 31, 2025 which has been accumulated in Retained Earnings. During the year under review, the Company has transferred H0.15 Crores to Molasses Reserve Fund.
|
SHARE CAPITAL The share capital of the Company, as on March 31, |
2025, is as under: |
|
Authorised Share Capital |
Amount (in H) |
|
9,16,00,000 Equity Shares of H10 each |
91,60,00,000 |
|
Total |
91,60,00,000 |
|
Issued, Subscribed and Paid-up Share capital |
Amount (in H) |
|
6,63,87,590 Equity shares of H10 each |
66,38,75,900 |
|
Total |
66,38,75,900 |
During the financial year under review, the Company has neither issued shares with differential voting rights as to dividend, voting or otherwise nor issued shares (including sweat equity shares) to the employees or Directors of the Company under any scheme. Also, the Company has not issued any convertible instrument during the year.
BOARD OF DIRECTORS AND KEY MANAGERIAL PERSONNEL
During the financial year under review, there was no change in the composition of the Board of Directors of the Company.
Presently, the Company''s Board comprises of 9 (nine) Directors. Besides Chairman and Managing Director & CEO who are Executive Promoter Directors, the Board has 1 (one) Whole Time Director, 1 (one) Non-Executive Promoter Director and 5 (five) NonExecutive Independent Directors including 1 (one) Non-Executive Independent Woman Director.
Directors Retiring by Rotation
In order to comply with the provisions of Companies Act, 2013 and Articles of the Company, Mr. Vijay Kumar Goel, Chairman and Executive Director (DIN: 00075317) will retire by rotation at the ensuing Annual General Meeting and being eligible offers himself for re-appointment.
Brief profile of the Director seeking re-appointment have been given as an annexure to the Notice of the ensuing Annual General Meeting.
Re-appointment of Directors
Mr. Vijay Kumar Goel, Chairman and Executive Director (DIN: 00075317) of the Company, will be completing his present term on May 04, 2025. The Board at its meeting held on May 02, 2025, based on the recommendation of Nomination and Remuneration Committee and subject to the approval of shareholders, has proposed re-appointment of Mr. Vijay Kumar Goel as Chairman and Executive Director of the Company for a further term of 3 (three) years w.e.f. May 05, 2025.
Mr. Gautam Goel, the Managing Director & Chief Executive Officer (DIN: 00076326) of the Company, will be completing his present term on May 04, 2025. The Board at its meeting held on May 02, 2025, based on the recommendation of Nomination and Remuneration Committee and subject to the approval of shareholders, has proposed re-appointment of Mr. Gautam Goel as Managing Director and Chief Executive Officer of the Company for a further term of 3 (three) years w.e.f. May 05, 2025.
Mr. Sandeep Kumar, Whole Time Director (DIN: 06906510) of the Company, will be completing his present term on May 04, 2025. The Board at its meeting held on May 02, 2025, based on the recommendation of Nomination and Remuneration Committee and subject to the approval of shareholders, has proposed reappointment of Mr. Sandeep Kumar as Whole Time Director of the Company for a further period of 1 (one) year w.e.f. May 05, 2025.
Brief profiles of the Director(s) seeking re-appointment have been given as an annexure to the Notice of the ensuing Annual General Meeting.
Further, pursuant to the provisions of Sections 149, 150, 152, and other applicable provisions of the Companies Act, 2013 read with relevant rules and applicable provisions of Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (herein after referred to as "Listing Regulations"), the Board at its meeting held on February 04, 2025, based on recommendation of Nomination and Remuneration Committee and subject to the approval of the shareholders, has re-appointed all the five (5) Independent Directors i.e. Mr. Ashwani Kumar Gupta (DIN: 00108678), Mrs. Ruchika Amrish Mehra Kothari (DIN: 09151323), Mr. Samir Thukral (DIN: 00203124), Mr. Vishal Saluja (DIN: 07145715) and Mr. Kishor Shah (DIN: 00193288) as Independent Directors w.e.f. April 18, 2025 to hold office for a term of five consecutive years i.e. upto April 17, 2030. The Company has sought approval of shareholders for re-appointment of Independent Directors through postal ballot for which voting will end on May 04, 2025.
Declaration by Independent Directors
The Independent Directors of your Company have confirmed that they meet the criteria of Independence as prescribed under Section 149 of the Companies Act, 2013 and Regulation 16 of the Listing Regulations, and they are not aware of any circumstance or situation, which could impair or impact their ability to discharge duties with an objective independent judgement and without any external influence.
POLICY ON DIRECTORS'' APPOINTMENT AND REMUNERATION
The Company has formulated Nomination and Remuneration Policy in accordance with Section 178 of the Act and Regulation 19 read with Schedule II of the Listing Regulations. Details of the said policy have
been disclosed in the Corporate Governance Report attached to this Report. The said policy is also available on the website of the Company under the head ''Policies'' at https://www.dhampur.com/investor/ other-disclosures.
ANNUAL PERFORMANCE EVALUATION OF BOARD, ITS COMMITTEESS AND DIRECTORS
Details pertaining to the way evaluation of the Board, its committees and individual Directors has been carried out, are mentioned in the Corporate Governance Report which forms part of this Annual Report.
FAMILIARISATION PROGRAM FOR INDEPENDENT DIRECTORS
All Independent Directors are familiarised with the operations and functioning of the Company at the time of their appointment and on an ongoing basis. The details of familiarisation program are provided in the Corporate Governance Report and is also available on the website of the Company under the head ''Policies'' at https:// www.dhampur.com/investor/other-disclosures.
DIRECTORS RESPONSIBILITY STATEMENT
In accordance with the provisions of Section 134(5) of the Companies Act, 2013 your Directors 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, if any;
b) the Directors had selected such accounting policies and applied them consistently and made judgements 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 Profit and Loss (including other comprehensive income) of the Company for that period;
c) the Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;
d) the annual accounts have been prepared on a going concern basis;
e) the Directors had laid down Internal Financial controls to be followed by the Company and that such Internal Financial Controls are adequate and operating effectively; and
f) the Directors, had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.
During the financial year under review, the Company did not invite or accept any deposits from the public falling under the
ambit of Section 73 and 76 of the Companies Act, 2013 and rules framed thereunder.
PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS
Details of Loans, Guarantees and Investments covered under the provisions of Section 186 of the Companies Act, 2013 are given in the relevant notes to Financial Statements forming part of this Annual Report.
MATERIAL CHANGES DURING THE YEAR
There have been no material changes affecting the financial position of the Company which have occurred between the end of the financial year of the Company and the date of the Report. However, the Board of Directors in its meeting held on April 02, 2025 approved and recommended to change the name of the Company, for the approval of shareholders, subject to the approval of Ministry of Corporate Affairs and other requisite authority(ies). The Company has sought approval of shareholders for change of name of the Company through postal ballot for which voting will end on May 04, 2025.
The Board of Directors in its meeting held on April 02, 2025 approved the Employee Stock Option Scheme ("ESOS 2025"), subject to the approval of shareholders. The Company has sought approval of shareholders for ESOS 2025 through postal ballot for which voting will end on May 04, 2025.
There are no materially significant related party transactions made by the Company with Promoters, Directors or Key Managerial Personnel etc. which may have potential conflict with the interest of the Company at large.
The Policy on Related Party Transactions as approved by the Board of Directors is uploaded on the Company''s website under the head ''Policies'' at https://www.dhampur.com/investor/other-disclosures.
Disclosure of Related Party Transactions is set out in Note No. 47 of the Standalone Financial Statements.
All transactions entered with Related Parties for the financial year under review were on arm''s length basis and in the ordinary course of business and the provisions of Section 188 of the Companies Act, 2013 and Rules made there under are not attracted. Thus, disclosure in Form AOC-2 in terms of Section 134 of Companies Act, 2013 is not required.
Details of Credit Ratings assigned to the Company are mentioned in the Corporate Governance report, which forms part of this Annual Report.
AUDITORS
Statutory Auditors and their Audit Report
M/s. Mittal Gupta & Co., Chartered Accountants, (ICAI Firm Registration number 001874C) was appointed as Statutory Auditors of the Company at the 1st Annual General Meeting and shall continue to be Statutory Auditors of the Company till the conclusion of 6th Annual General Meeting to be held for the FY 2025-26.
The report given by the Auditors on the Standalone and Consolidated Annual Financial Statements of the Company for the year ended March 31, 2025 forms part of this Annual Report. The Auditor''s comments on the Company''s account are self-explanatory in nature and do not require any explanation. Further, there is no qualification, reservation, adverse remark or disclaimer given by the Auditors in their reports.
The Auditors of the Company have not reported any fraud in terms of the second proviso to Section 143(12) of the Companies Act, 2013 and therefore no detail is required to be disclosed under Section 134 (3)(ca) of the Companies Act, 2013.
Cost Accounts and Cost Auditors
As per the requirement of Central Government and pursuant to Section 148 of the Companies Act, 2013 read with the Companies (Cost Records and Audit) Rules, 2014 as amended from time to time, the Board of Directors has on the recommendation of Audit Committee appointed Mr. S.R. Kapur, Cost Accountant as Cost Auditors to audit the Cost Accounts of the Company for the year ended March 31,2026. As required under the Companies Act, 2013 the remuneration payable to Cost Auditors is required to be placed before the members in ensuing Annual General Meeting for their ratification. Accordingly, a resolution seeking member''s ratification for the remuneration payable to Mr. S.R. Kapur, Cost Auditors of the Company is included in the Notice convening the ensuing Annual General Meeting of the Company.
Secretarial Auditors and Secretarial Audit Report
Pursuant to the provisions of Section 204 of the Companies Act, 2013 and rules made there under, the Company had appointed M/s. GSK & Associates, Company Secretaries to undertake the Secretarial Audit of the Company for the year ended March 31, 2025. The Secretarial Audit Report for the financial year 2024-25 is annexed as Annexure - 2 and forms an integral part of this report.
Annual Secretarial Compliance Report as required under Regulation 24A of Listing Regulations, as amended is also annexed as Annexure - 2A and forms an integral part of this report.
The comments of Secretarial Auditor are self-explanatory in nature and do not require any explanation. Further, there is no qualification, reservation, adverse remark or disclaimer given by the Secretarial Auditors in their report(s).
Appointment of the Secretarial Auditor
Pursuant to Regulation 24A of SEBI (LODR) (Third Amendment) Regulations, 2024, with effect from April 01, 2025, your Company is required to appoint, re-appoint or continue with the appointment of
the Secretarial Auditor, who is a "Peer Reviewed Company Secretary". The appointment will be subject to the approval of the shareholders in its ensuing Annual General Meeting of the Company.
In accordance with the above Regulation, the Board of Directors of the Company has proposed to appoint GSK and Associates, Practicing Company Secretaries (FRN: P2014UP036000), as the Secretarial Auditor of the Company, for performing audit of the Company''s secretarial records for a term of five consecutive years, beginning from financial year April 01, 2025. The practicing Company Secretary holds a valid certificate of peer review issued by the Institute of Company Secretaries of India and that he has not incurred any of the disqualifications as specified under the Companies Act, 2013 and by the SEBI.
The Company has received a written confirmation from GSK and Associates, Practicing Company Secretaries, to the effect that their appointment as the Secretarial Auditors of the Company, if made, will be as per the requirements laid down under the Companies Act, 2013 and Listing Regulations. In this regard, a Resolution for appointment is carried in the Notice of the Annual General Meeting, which is recommended by the Board for approval.
REPORTING OF FRAUDS BY AUDITORS
During the financial year under review, the statutory auditor and the secretarial auditor has not reported any instance of fraud committed in the Company by its officers or employees.
The Company has adequate Internal Control system with reference to the financial statements and commensurate with the size and scale of its operations. The Internal Auditors evaluate the efficacy and adequacy of internal control system, accounting procedures and policies adopted by the Company for efficient conduct of its business, prevention and detection of frauds and errors. Based on the report of internal audit, corrective actions are undertaken by the Company, which are reviewed periodically.
MANAGEMENT DISCUSSION AND ANALYSIS
The Management Discussion and Analysis Report on the operations of the Company, is provided in a separate section and forms an integral part of this Annual Report.
In accordance with Listing Regulations, a separate report on Corporate Governance is given along with the Secretarial Auditors'' Certificate on its compliance in the Annual Report. The Certificate does not contain any qualification, reservation or adverse remark.
BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT
As per Regulation 34 of Listing Regulations, Business Responsibility and Sustainability Report for financial year 2024-25 is annexed as Annexure 3 to this Report.
COMPLIANCE WITH SECRETARIAL STANDARDS
The Company complies with all the applicable mandatory Secretarial Standards issued by the Institute of Company Secretaries of India.
NUMBER OF BOARD MEETINGS HELD DURING THEYEAR
The Board of Directors met 4 (four) times during the financial year 2024-25 on April 24, 2024; July 25, 2024; November 04, 2024 and February 04, 2025 respectively. Time gap between any of the two consecutive meetings does not exceed 120 days.
COMMITTEES OF THE BOARD
The Board of Directors have following Committees:
Mandatory Committees
¦ Audit Committee.
¦ Nomination and Remuneration Committee.
¦ Stakeholders'' Relationship Committee.
¦ Corporate Social Responsibility Committee.
¦ Risk Management Committee
Non-Mandatory Committees
¦ Management Committee
Details of the Committees are provided in the Corporate Governance Report.
CORPORATE SOCIAL RESPONSIBILITY (CSR
During the financial year 2024-25, the Company has spent H61.15 lakhs towards CSR expenditure. The initiatives undertaken by the Company were focused on education, sports and healthcare. The Corporate Social Responsibility Policy as approved by the Board is uploaded on the Company''s website under the head ''Policies'' at https://www.dhampur.com/investor/other-disclosures.
The Company''s CSR Policy statement and annual report on CSR activities undertaken by the Company during the financial year as per provisions of Section 135 of the Companies Act, 2013 read with the Companies (The Corporate Social Responsibility Policy) Rules, 2014 ("CSR Rules") is set out in Annexure - 4 to this Report.
DETAILS OF UNPAID AND UNCLAIMED DIVIDEND AND INVESTOR EDUCATION AND PROTECTION FUND
In terms of the provisions of section 124(6) of Companies Act, 2013 read with Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, during the financial year under review, the Company transferred the amount of final dividend declared for financial year 2023-24 amounting to H5,35,235 to the Investor Education and Protection Fund pertaining to shares lying in IEPF Account.
RISK MANAGEMENT
Risk is an integral part of business and therefore, the Company has formed a Risk Management Policy laying the framework to identify and mitigate the risks, whether internal or external, which could materially impact operations of the Company. The Risk Management Committee constituted by the Board of Directors of the Company monitors and assess risks management process. There are no risks which, in the opinion of the Board, threaten the very existence of your Company.
The Risk Management Policy as approved by the Board is uploaded on the Company''s website under the head ''Policies'' at www. dhampur.com/other-disclosures/policies
VIGIL MECHANISM/ WHISTLE BLOWER POLICY
This policy provides a secure avenue to directors, employees, business associates and other stakeholders of the Company for raising their concerns against the unethical practices.
Further, the Policy also provides adequate safeguards to the whistle blower by keeping his identity confidential and prevent victimization of persons who may use such mechanism.
The Vigil Mechanism/Whistle Blower Policy as approved by the Board is uploaded on the Company''s website under the head ''Policies'' at https://www.dhampur.com/investor/other-disclosures
DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013
The Company has in place an Anti-Sexual Harassment Policy in line with the requirements of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. All employees (permanent, contractual, temporary, trainees) are covered under this policy.
The following is a summary of sexual harassment complaints received and disposed during the financial year 2024-25.
|
No. of complaints received during the financial year |
0 |
|
No. of complaints disposed during the financial year |
0 |
|
No. of complaints pending at the end of |
0 |
|
financial year |
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO
Details of conservation of energy, technology absorption, foreign exchange earnings and outgo pursuant to Section 134 (3)(m) of the Companies Act, 2013 read with the Rule 8(3) of the Companies (Accounts) Rules, 2014 is annexed as Annexure - 5 and forms an integral part of this report.
ANNUAL RETURN
According to the provisions of Section 92(3) of the Companies Act, 2013 read with Companies (Management and Administration) Rules, 2014, the draft Annual Return of the Company in Form MGT-7 has been placed on the Company''s website under the head ''Shareholders Meeting'' at https://www.dhampur.com/investor/ financials
SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY''S OPERATIONS IN FUTURE
There was no such order passed by the regulators or courts or tribunals impacting the going concern status and Company''s operations in future.
DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016 (31 OF 2016)
No application or any proceeding has been filed against the Company under the Insolvency and Bankruptcy Code, 2016 during the financial year under review.
HUMAN RESOURCES AND INDUSTRIAL RELATIONS
The Company takes pride in the commitment, competence and dedication of its employees in all areas of the business. The Company has structured induction process at all locations and management development programmes to update skills of managers. Industrial relations remained cordial and harmonious during the year.
STATUTORY INFORMATION
The Disclosure required under Section 197(12) of the Companies Act, 2013 read with the Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is annexed as Annexure - 6 and forms an integral part of this Report.
A statement furnishing the names of Top Ten employees in terms of remuneration drawn and persons employed throughout the year, who were in receipt of remuneration in terms of Section 197(12) of the Companies Act, 2013 read with Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules,
2014, is annexed as Annexure - 6A and forms an integral part of this Report.
The said annexure is not being sent along with this Annual Report to the Members of the Company in line with the provisions of Section 136 of the Companies Act, 2013. Members who are interested in obtaining these particulars may write to the Company Secretary and the same will be furnished on request.
DIFFERENCE BETWEEN AMOUNT OFTHEVALUATION DONE AT THE TIME OF ONE TIME SETTLEMENT AND THE VALUATION DONE WHILE TAKING LOAN FROM THE BANKS OR FINANCIAL INSTITUTIONS
The requirement to disclose the details of difference between amount of the valuation done at the time of onetime settlement and the valuation done while taking loan from the Banks or Financial Institutions along with the reasons thereof is not applicable.
ACKNOWLEDGEMENTS
Your Directors would like to acknowledge and place on record their sincere appreciation to the shareholders for their confidence in the management of the Company and gratitude to the Government of India, State Governments and Company''s Bankers for the assistance, co-operation and encouragement they extended to the Company. Your Directors also wish to place on record their sincere thanks and appreciation for the continuing support of investors, vendors, dealers, business associates, the cane growers for their efforts in ensuring timely cane supply. Your Directors recognize and appreciate the efforts and hard work of all the employees of the Company and their continued contribution to promote its development.
Mar 31, 2024
The Directors are pleased to present the 4th Annual Report on the business and operations of the Company together with the Audited Financial Statements for the financial year ended March 31,2024.
The Company''s financial performance for the year under review along with previous year''s figures are given hereunder:
|
Financial Highlights: Particulars |
Consolidated For the year ended For the year ended March 31, 2024 March 31, 2023 |
(Rs. in Crore) Standalone For the year ended For the year ended March 31, 2024 March 31, 2023 |
||
|
Revenue from operations |
2,394.42 |
2654.44 |
2361.16 |
2648.60 |
|
Profit before finance costs, tax, depreciation and amortization, exceptional items and other comprehensive income |
160.30 |
216.14 |
161.60 |
212.91 |
|
Less: Finance costs |
45.33 |
40.84 |
45.27 |
40.74 |
|
Less: Depreciation and Amortization expense |
49.48 |
40.53 |
49.46 |
40.32 |
|
Profit before Tax after exceptional items |
65.49 |
134.77 |
66.87 |
135.78 |
|
Provision for Tax |
19.00 |
23.67 |
18.05 |
23.76 |
|
Net Profit for the year |
46.49 |
111.10 |
48.82 |
112.02 |
|
Other comprehensive income (net of tax) Total comprehensive income for the year |
(0.93) |
(1.13) |
(0.91) |
(1.83) |
|
45.56 |
109.97 |
47.91 |
110.19 |
|
The key operational data of the Company is as under:
|
Particulars |
For the Year ended March 31, 2024 |
For the Year ended March 31, 2023 |
|
Cane crushed (in lakh ton) |
41.44* |
43.22* |
|
Net Recovery (%) |
10.32 |
9.42 |
|
Sugar Produced from Cane (in lakh ton) |
4.23 |
3.51 |
|
*Includes 0.31 lakh tons (5.99 lakh tons in FY 2022-23) of cane diverted towards syrup derived ethanol in FY 2023-24. |
||
|
Renewable Energy operations at a glance |
||
|
Particulars |
For the Year ended March 31, 2024 |
For the Year ended March 31, 2023 |
|
Power generated (in Cr. units) |
30.25 |
34.53 |
|
Power sold to UPPCL (in Cr. units) |
9.68 |
14.67 |
|
Bio Fuels and Spirits operations at a glance |
||
|
Particulars |
For the Year ended March 31, 2024 |
For the Year ended March 31, 2023 |
|
Ethanol produced (in lakh bulk litres) |
931.4 |
980.59 |
|
Country liquor |
||
|
Particulars |
For the Year ended March 31, 2024 |
For the Year ended March 31, 2023 |
|
Sales (No. of cases) |
25,04,325 |
11,62,009 |
COMPANY''S PERFORMANCE DURING FY 2023-24
Company''s Performance during financial year 2023-24 has been explained in Management Discussion and Analysis Report which forms an integral part of this Annual Report.
During the financial year under review, pursuant to Order of the Hon''ble National Company Law Tribunal (NCLT), Allahabad Bench dated April 27, 2022 approving the Scheme of Arrangement between Dhampur Sugar Mills Limited and Dhampur Bio Organics Limited and their respective shareholders and creditors (Scheme), the application for reclassification of promoters was filed in June 2023 with both the Stock Exchanges i.e. BSE Limited (BSE) and National Stock Exchange of India Limited (NSE) and the same is pending for approval.
CONSOLIDATED FINANCIAL STATEMENTS AND SUBSIDIARY/ ASSOCIATE & JOINT VENTURE COMPANIES
Pursuant to Section 129(3) of the Companies Act, 2013 read with Rule 5 of the Companies (Accounts) Rules 2014, a report on the performance and financial position of the Subsidiary Company i.e. Dhampur International Pte. Ltd., as per Companies Act, 2013 is given in the Form AOC 1 as Annexure 1 which forms an integral part of this Report.
Dhampur International Pte Ltd. (DIPL) has total revenue of H62.93 Crore for the year ended March 31, 2024 as compared to last year''s revenue of H266.91 Crore.
Audited Financial Statements of the subsidiary Company for FY 202324 have been placed on the website of the Company at https:// www.dhampur.com/subsidiary and are available for inspection at the Company''s registered office.
CHANGE IN THE NATURE OF BUSINESS
During the financial year under review, there was no change in the nature of business of the Company.
The Directors are pleased to recommend a final dividend of H2.50 (25%) per equity share of H10 each for financial year 2023-24, which if approved at the forthcoming Annual General Meeting, will be paid to all those Equity Shareholders of the Company whose names appear in the Register of Members and whose names appear as beneficial owners as per the beneficiary list furnished for the purpose by National Securities Depository Limited ("NSDL") and Central Depository Services (India) Limited ("CDSL") as on record date fixed for this purpose. The Dividend Distribution Policy as approved by the Board is uploaded on the Company''s website under the head ''Policies'' at https://www.dhampur.com/investor/other-disclosures.
The Company has earned Net Profit after tax of H48.82 Crores for the year ended March 31, 2024 which has been accumulated in Retained Earnings. During the year under review, the Company has transferred H0.28 Crores to Molasses Reserve Fund.
The share capital of the Company, as on March 31,2024, is as under
|
Authorised Share Capital |
Amount (in H) |
|
91600000 Equity Shares of H10 each |
91,60,00,000 |
|
Total |
91,60,00,000 |
|
Issued, Subscribed and Paid-up Share capital |
Amount (in H) |
|
66387590 Equity shares of H10 each |
66,38,75,900 |
|
Total |
66,38,75,900 |
During the financial year under review, the Company has neither issued shares with differential voting rights as to dividend, voting or otherwise nor issued shares (including sweat equity shares) to the employees or Directors of the Company under any scheme. Also, the Company has not issued any convertible instrument during the year.
BOARD OF DIRECTORS AND KEY MANAGERIAL PERSONNEL
During the financial year, there was no change in the composition of the Board of Director of the Company.
Presently, the Company''s Board comprises of 9 (nine) Directors. Besides Chairman and Managing Director who are Executive Promoter Directors, the Board has 1 (one) Whole Time Director, 1 (one) Non-Executive Promoter Director and 5 (five) NonExecutive Independent Directors including 1 (one) Non-Executive Independent Woman Director.
Directors Retiring by Rotation
In order to comply with the provisions of Companies Act, 2013 and Articles of the Company, Mrs. Bindu Vashist Goel, Director (DIN: 09591778) will retire by rotation at the ensuing Annual General Meeting and being eligible offers herself for re-appointment.
Brief profile of the Director seeking re-appointment have been given as an annexure to the Notice of the ensuing AGM.
Re-appointment of Whole Time Director
It has been proposed to re-appoint Mr. Sandeep Kumar, Whole Time Director (DIN: 06906510) for further period of 1 year w.e.f. April 05, 2024 subject to approval of Shareholders in the ensuing Annual General Meeting of the Company.
Brief profile of the Director seeking re-appointment have been given as an annexure to the Notice of the ensuing AGM.
Declaration by Independent Directors
The Independent Directors of your Company have confirmed that they meet the criteria of Independence as prescribed under Section 149 of the Companies Act, 2013 and Regulation 16 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (herein after referred to as "Listing Regulations") and they are not aware of any circumstance or situation, which could impair or impact their ability to discharge duties with an objective independent judgement and without any external influence.
POLICY ON DIRECTORS'' APPOINTMENT AND REMUNERATION
The Company has formulated Nomination and Remuneration Policy in accordance with Section 178 of the Act and Regulation 19 read with Schedule II of the Listing Regulations. Details of the said policy have been disclosed in the Corporate Governance Report attached to this Report. The said policy is also available on the website of the Company under the head Policies at https://www.dhampur.com/investor/ other-disclosures.
ANNUAL PERFORMANCE EVALUATION OF BOARD, ITS COMMITTEESS AND DIRECTORS
Details pertaining to the way evaluation of the Board, its committees and individual Directors has been carried out, form part of Corporate Governance Report.
FAMILIARISATION PROGRAMME FOR INDEPENDENT DIRECTORS
All Independent Directors are familiarised with the operations and functioning of the Company at the time of their appointment and on an ongoing basis. The details of familiarisation program are provided in the Corporate Governance Report and is also available on the website of the Company under the head ''Policies'' at https:// www.dhampur.com/investor/other-disclosures.
DIRECTORS RESPONSIBILITY STATEMENT
In accordance with the provisions of Section 134(5) of the Companies Act, 2013 your Directors 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, if any;
b) the Directors had selected such accounting policies and applied them consistently and made judgements 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 and Loss (including other comprehensive income) of the Company for that period;
c) the Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;
d) the annual accounts have been prepared on a going concern basis;
e) the Directors had laid down Internal Financial controls to be followed by the Company and that such Internal Financial Controls are adequate and operating effectively; and
f) the Directors, had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.
During the financial year under review, the Company did not invite or accept any deposits from the public falling under the ambit of Section 73 and 76 of the Companies Act, 2013 and rules framed thereunder.
PARTICULARS OF LOANS, GUARANTEES OR INVESTMENT
Details of Loans, Guarantees and Investments covered under the provisions of Section 186 of the Companies Act, 2013 are given in the relevant notes to Financial Statements forming part of this annual report.
MATERIAL CHANGES DURING THE YEAR
There have been no material changes affecting the financial position of the Company which have occurred between the end of the financial year of the Company and the date of the Report.
There are no materially significant related party transactions made by the Company with Promoters, Directors or Key Managerial Personnel etc. which may have potential conflict with the interest of the Company at large.
The Policy on Related Party Transactions as approved by the Board of Directors is uploaded on the Company''s website under the head ''Policies'' at https://www.dhampur.com/investor/other-disclosures.
Disclosure of Related Party Transactions is set out in Note No. 46 of the Standalone Financial Statements.
All transactions entered with Related Parties for the year under review were on arm''s length basis and in the ordinary course of business and the provisions of Section 188 of the Companies Act, 2013 and Rules made there under are not attracted. Thus, disclosure in Form AOC-2 in terms of Section 134 of Companies Act, 2013 is not required.
Details of Credit Ratings assigned to the Company are given in the Corporate Governance report.
AUDITORSStatutory Auditors and their Audit Report
M/s. Mittal Gupta & Co., Chartered Accountants, (ICAI Firm Registration number 001874C) was appointed as Statutory Auditors of the Company at the 1st Annual General Meeting and shall continue to be Statutory Auditors of the Company till the conclusion of 6th Annual General Meeting to be held for the FY 2025-26.
The report given by the Auditors on the Standalone and Consolidated Annual Financial Statements of the Company for the year ended March 31, 2024 forms part of this Annual Report. The Auditor''s comments on the Company''s account are self-explanatory in nature and do not require any explanation. Further, there is no qualification, reservation, adverse remark or disclaimer given by the Auditors in their reports.
The Auditors of the Company have not reported any fraud in terms of the second proviso to Section 143(12) of the Companies Act, 2013 and therefore no detail is required to be disclosed under Section 134 (3)(ca) of the Companies Act, 2013.
Cost Accounts and Cost Auditors
As per the requirement of Central Government and pursuant to Section 148 of the Companies Act, 2013 read with the Companies (Cost Records and Audit) Rules, 2014 as amended from time to time, the Board of Directors has on the recommendation of Audit Committee appointed Mr. S.R. Kapur, Cost Accountant as Cost Auditors to audit the Cost Accounts of the Company for the year ended March 31,2025. As required under the Companies Act, 2013 the remuneration payable to Cost Auditors is required to be placed before the members in ensuing Annual General Meeting for their ratification. Accordingly, a resolution seeking member''s ratification
for the remuneration payable to Mr. S.R. Kapur, Cost Auditors of the Company is included in the Notice convening Annual General Meeting of the Company.
Secretarial Auditors and Secretarial Audit Report
Pursuant to the provisions of Section 204 of the Companies Act, 2013 and rules made there under, the Company has appointed M/s. GSK & Associates, Company Secretaries to undertake the Secretarial Audit of the Company for the year ended March 31, 2025. The Secretarial Audit Report for the FY 2023-24 is annexed as Annexure
- 2 and forms an integral part of this report. Further, there is no secretarial audit qualification for the financial year under review.
Annual Secretarial Compliance Report as required under Regulation 24A of Listing Regulations as amended is also annexed as Annexure
- 2A and forms part of this report.
The Company has adequate Internal Control system with reference to the financial statements and commensurate with the size and scale of its operations. The Internal Auditors evaluate the efficacy and adequacy of internal control system, accounting procedures and policies adopted by the Company for efficient conduct of its business, prevention and detection of frauds and errors. Based on the report of internal audit, corrective actions are undertaken by the Company, which are reviewed periodically.
MANAGEMENT DISCUSSION AND ANALYSIS
The Management Discussion and Analysis Report on the operations of the Company, is provided in a separate section and forms an integral part of this Annual Report.
In accordance with Listing Regulations a separate report on Corporate Governance is given along with the Secretarial Auditors'' Certificate on its compliance in the Annual Report. The Certificate does not contain any qualification, reservation or adverse remark.
BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT
As per Regulation 34 of Listing Regulations, Business Responsibility and Sustainability Report for FY 2023-24 is annexed as Annexure 3 to this Report.
COMPLIANCE WITH SECRETARIAL STANDARDS
The Company complies with all the applicable mandatory Secretarial Standards issued by the Institute of Company Secretaries of India.
NUMBER OF BOARD MEETINGS HELD DURING THE YEAR
The Board of Directors met 5 (five) times during the financial year 2023-24 on April 25, 2023; July 25, 2023; October 9, 2023, January 18, 2024 and February 5, 2024 respectively. Time gap between any of the two consecutive meetings does not exceed 120 days.
COMMITTEES OF THE BOARD
The Board of Directors have following Committees:
Mandatory Committees
¦ Audit Committee.
¦ Nomination and Remuneration Committee.
¦ Stakeholders'' Relationship Committee.
¦ Corporate Social Responsibility Committee.
¦ Risk Management Committee
Non-Mandatory Committees
¦ Management Committee
Details of the Committees are provided in the Corporate Governance Report.
CORPORATE SOCIAL RESPONSIBILITY (CSR)
During financial year 2023-24, the Company has spent H1.88 crore towards CSR expenditure. The initiatives undertaken by the Company were focused on education, healthcare, skill development and women empowerment. The Corporate Social Responsibility Policy as approved by the Board is uploaded on the Company''s website under the head ''Policies'' at https://www.dhampur.com/ investor/other-disclosures.
The Company''s CSR Policy statement and annual report on CSR activities undertaken by the Company during the financial year as per provisions of Section 135 of the Companies Act, 2013 read with the Companies (The Corporate Social Responsibility Policy) Rules, 2014 ("CSR Rules") is set out in Annexure - 4 to this Report.
DETAILS OF UNPAID AND UNCLAIMED DIVIDEND AND INVESTOR EDUCATION AND PROTECTION FUND
In terms of the provisions of section 124(6) of Companies Act, 2013 read with Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, during the financial year under review, the Company transferred the amount of final dividend declared for financial year 2022-23 amounting to H7,62,282.50 to the Investor Education and Protection Fund pertaining to shares lying in IEPF Account.
RISK MANAGEMENT
Risk is an integral part of business and therefore, the Company has formed a Risk Management Policy laying the framework to identify and mitigate the risks, whether internal or external, which could materially impact operations of the Company. The Risk Management Committee constituted by the Board of Directors of the Company monitors and assess risks management process. There are no risks which, in the opinion of the Board, threaten the very existence of your Company.
VIGIL MECHANISM/ WHISTLE BLOWER POLICY
This policy provides a secure avenue to directors, employees, business associates and other stakeholders of the Company for raising their concerns against the unethical practices.
Further, the Policy also provides adequate safeguards to the whistle blower by keeping his identity confidential and prevent victimization of persons who may use such mechanism.
The Vigil Mechanism/Whistle Blower Policy as approved by the Board is uploaded on the Company''s website under the head ''Policies'' at https://www.dhampur.com/investor/other-disclosures.
DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013
The Company has in place an Anti-Sexual Harassment Policy in line with the requirements of The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. All employees (permanent, contractual, temporary, trainees) are covered under this policy.
The following is a summary of sexual harassment complaints received and disposed during the year 2023-24.
|
No. of complaints filed during the financial year |
NIL |
|
No. of complaints received |
NIL |
|
No. of complaints disposed |
NIL |
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO
Details of conservation of energy, technology absorption, foreign exchange earnings and outgo pursuant to Section 134 (3)(m) of the Companies Act, 2013 read with the Rule 8(3) of the Companies (Accounts) Rules, 2014 is annexed as Annexure - 5 and forms an integral part of this report.
ANNUAL RETURN
According to the provisions of Section 92(3) of the Companies Act, 2013 read with Companies (Management and Administration) Rules, 2014, The draft Annual Return of the Company in Form MGT-7 has been placed on the Company''s website under the head ''Shareholders Meeting'' at https://www.dhampur.com/investor/ financials
SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY''S OPERATIONS IN FUTURE
There was no such order passed by the regulators or courts or tribunals impacting the going concern status and Company''s operations in future.
DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016 (31 OF 2016)
No application or any proceeding has been filed against the Company under the Insolvency and Bankruptcy Code, 2016 during the financial year under review.
HUMAN RESOURCES AND INDUSTRIAL RELATIONS
The Company takes pride in the commitment, competence and dedication of its employees in all areas of the business. The Company has structured induction process at all locations and management development programmes to update skills of managers. Industrial relations remained cordial and harmonious during the year.
STATUTORY INFORMATION
The Disclosure required under Section 197(12) of the Companies Act, 2013 read with the Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is annexed as Annexure - 6 and forms an integral part of this Report.
A statement furnishing the names of Top Ten employees in terms of remuneration drawn and persons employed throughout the year, who were in receipt of remuneration in terms of Section 197(12) of the Companies Act, 2013 read with Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, is annexed as Annexure - 6A and forms an integral part of this Report. The said annexure is not being sent along with this Annual Report to the Members of the Company in line with the provisions of Section 136 of the Companies Act, 2013. Members who are interested in obtaining these particulars may write to the Company Secretary and the same will be furnished on request.
DIFFERENCE BETWEEN AMOUNT OF THE VALUATION DONE AT THE TIME OF ONE TIME SETTLEMENT AND THE VALUATION DONE WHILE TAKING LOAN FROM THE BANKS OR FINANCIAL INSTITUTIONS
The requirement to disclose the details of difference between amount of the valuation done at the time of onetime settlement and the valuation done while taking loan from the Banks or Financial Institutions along with the reasons thereof is not applicable.
ACKNOWLEDGEMENTS
Your Directors would like to acknowledge and place on record their sincere appreciation to the shareholders for their confidence in the management of the Company and gratitude to the Government of India, State Governments and Company''s Bankers for the assistance, co-operation and encouragement they extended to the Company. Your Directors also wish to place on record their sincere thanks and appreciation for the continuing support of investors, vendors, dealers, business associates, the cane growers for their efforts in ensuring timely cane supply. Your Directors recognize and appreciate the efforts and hard work of all the employees of the Company and their continued contribution to promote its development.
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ഓഹരി വിപണിയിൽ വൻ കുതിപ്പ്: സെൻസെക്സും നിഫ്റ്റിയും കുതിച്ചുയരുന്നു, നിക്ഷേപകർക്ക് വൻ നേട്ടം -
വിപണിയിൽ വൻ ചാഞ്ചാട്ടം; ഐടി ഓഹരികളുടെ കുതിപ്പിനിടെ നിക്ഷേപകർ ഉറ്റുനോക്കുന്ന ആ നിർണ്ണായക തീരുമാനം ഇതാ! -
കോൾ ഇന്ത്യ സെറ്റിൽമെന്റും വാഹന വിൽപന കണക്കുകളും; നിഫ്റ്റിയിൽ ഇന്ന് വൻ മാറ്റങ്ങൾക്ക് സാധ്യതയോ? -
വെള്ളിയാഴ്ചത്തെ വിപണി തകർച്ച: നിക്ഷേപകരുടെ പണം ഒലിച്ചുപോയോ? സെൻസെക്സ് വീഴ്ചയ്ക്ക് പിന്നിലെ ഞെട്ടിക്കുന്ന കാരണങ്ങൾ ഇതാ! -
സെൻസെക്സ് ഇടിവ് തുടരുമോ? തിങ്കളാഴ്ച വിപണിയിൽ വൻ മാറ്റങ്ങൾക്ക് സാധ്യത, നിക്ഷേപകർ ശ്രദ്ധിക്കേണ്ട കാര്യങ്ങൾ ഇതാ! -
സെൻസെക്സും നിഫ്റ്റിയും കുതിക്കുന്നു; ഓഹരി വിപണിയിലെ ഈ വമ്പൻ മുന്നേറ്റത്തിന് പിന്നിലെ യഥാർത്ഥ കാരണം ഇതാണ്! -
മൺസൂൺ കാറ്റിൽ വിപണി കുതിക്കുമോ? നിക്ഷേപകർ ശ്രദ്ധിക്കേണ്ട നിർണ്ണായക മാറ്റങ്ങളും ഐപിഒ അവസരങ്ങളും ഇതാ! -
വിപണിയിൽ വൻ കുതിപ്പ്; സെൻസെക്സും നിഫ്റ്റിയും റെക്കോർഡ് ഉയരത്തിലേക്ക്, നിക്ഷേപകർക്ക് ഇനി എന്ത് സംഭവിക്കും? -
ഓഹരി വിപണിയിൽ കടുത്ത ചാഞ്ചാട്ടം; നിക്ഷേപകർക്ക് ആശങ്കയോ അതോ അവസരമോ? സെൻസെക്സ് നൽകുന്ന സൂചനകൾ ഇതാ! -
വിപണിയിൽ വൻ തകർച്ച; നിക്ഷേപകരെ ഞെട്ടിച്ച് സെൻസെക്സും നിഫ്റ്റിയും കൂപ്പുകുത്തിയതെങ്ങനെ? -
വിപണിയിൽ തളർച്ച, പക്ഷേ ഓട്ടോ ഓഹരികളിൽ വൻ കുതിപ്പ്; നിക്ഷേപകർക്ക് ഇനി എന്ത് സംഭവിക്കും? -
മെയ് 8: വിപണിയിൽ കുതിപ്പിന് സാധ്യതയോ? നിക്ഷേപകർ ശ്രദ്ധിക്കേണ്ട നിർണ്ണായക ഘടകങ്ങൾ ഇതാ! -
വിപണിയിൽ കനത്ത ഇടിവ്; നിക്ഷേപകരെ ആശങ്കയിലാക്കി സെൻസെക്സും നിഫ്റ്റിയും കൂപ്പുകുത്തി -
വിപണിയിൽ കാളക്കൂറ്റന്മാരുടെ തിരിച്ചുവരവ്; നിഫ്റ്റിയും സെൻസെക്സും കുതിച്ചുയർന്നത് എങ്ങനെ? -
വിപണിയിൽ വൻ കുതിപ്പിന് കളമൊരുങ്ങുന്നു; ഈ ഓഹരികൾ ശ്രദ്ധിക്കാതെ പോകരുത്! -
തിങ്കളാഴ്ച വിപണിയിൽ എന്ത് സംഭവിക്കും? നിക്ഷേപകരെ കാത്തിരിക്കുന്നത് വൻ അട്ടിമറികളോ?
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