Annual Report: 2021
A.V. Thomas and Company Limited's 86th Annual Report & Accounts for 2020-2021 highlights the company's financial performance, operational activities, and corporate social responsibility initiatives.
Company Overview:
A.V. Thomas and Company Limited, incorporated in 1935, operates with primary business divisions including Consumer Products, Trading & Services, and Dairy. The company's registered office is located in Alappuzha, Kerala, with the corporate office in Chennai.
Annual General Meeting:
The Eighty-Sixth Annual General Meeting will be held on September 23, 2021, via video conferencing, to transact ordinary business (adoption of financial statements, declaration of dividends, appointment of director) and special business (approval of cost auditors' remuneration). Shareholders’ voting rights are proportional to their shares as of the cut-off date, September 16, 2021. The Board has recommended a final dividend of Rs.100/- per equity share (1000%), making the total dividend Rs. 200 per share (2000%) for the year.
Financial Performance (Year Ended March 31, 2021):
Board and Committees:
Statutory Compliance and Audits:
Related Party Transactions:
All related party transactions were in the ordinary course of business and at arm's length. Details are provided in Form AOC-2.
Risk Management:
The Risk Management is overseen by the Audit Committee on a continuous basis. The company follows a minimal risk business strategy, including adequate insurance coverage for fixed and current assets, a conservative debt policy, covering foreign exchange exposure, and requiring advance payment or irrevocable LC for exports.
Corporate Social Responsibility (CSR):
The company undertook activities relating to promotion of Health Care, Education / Rural Sports, and Social & Economic Development in line with Schedule VII of the Companies Act, 2013. The Company was required to spend Rs.67.66 Lakhs. They spent Rs. 68.00 Lakhs and CSR Committee confirmed that the implementation and monitoring of CSR policy is in compliance with CSR objectives and policy of the Company.
Other Key Points:
The report also contains detailed financial statements, including the Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement, along with related notes and accounting policies.
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