Annual Report: 2023
A.V. Thomas and Company Limited - Alappuzha Summary:
Company Overview: A.V. Thomas and Company Limited, a public limited company incorporated and domiciled in India, is engaged in trading, producing, and distributing Consumer Products (Tea, Coffee, Cardamom, Milkshakes, Ghee, Dairy Whitener) and Roofing Materials. It also operates a Logistics Division and has branded beverage business in South India and exports to Middle East. The company has a pipe manufacturing facility in Perundurai, Erode Tamilnadu and roof profiling units in Tamil Nadu & Kerala, selling primarily in India. The registered office is in Alappuzha, Kerala.
Key Personnel:
Key Financial Highlights (Standalone - FY 2022-23):
Dividend: An interim dividend of Rs.150/- per equity share (1500%) was paid during the financial year ended 31st March, 2023. A final dividend of Rs.150/- per equity share (1500%) has been recommended by the Board of Directors, pending shareholder approval at the Annual General Meeting.
Subsidiary/Associate Companies: The company has prepared a consolidated financial statement in respect of its Associate Companies (AVT Gavia Foods (P) Limited) and (A.V. Thomas Investments Company Limited). Key financial data related to the associates is presented with A V Thomas Investments reporting 5,06,93,401 Rs total net worth and AVT Gavia Foods Private Limited reporting 12,37,55,812 Rs.
Directors and Key Managerial Personnel: Mr. Habib Hussain retires by rotation and is eligible for re-appointment. Mr. Dilip Thomas, Executive Vice Chairman, has been re-appointed for a further period with effect from 1st July, 2023 to 31st January, 2025, subject to shareholder approval.
Board Meetings: The Board of Directors met four times during the financial year 2022-23.
Auditors: M/s. Suri & Co, Chartered Accountants, are the Statutory Auditors. M/s. Rajendran, Mani & Varier are the Cost Auditors.
Changes in Share Capital: The company made a Buy-Back offer, reducing its share capital.
Shareholder Information and AGM:
Matters for Approval at the AGM:
E-Voting: Detailed instructions are provided for remote e-voting and e-voting during the AGM. The voting period begins on Saturday, 22nd July 2023 and ends on Monday, 24th July 2023.
Corporate Social Responsibility (CSR): The company has undertaken CSR activities as per Schedule VII of the Companies Act, 2013. Rs. 96.00 Lakhs was spent on CSR projects. The CSR committee consists of Mr. Ajit Thomas, Mr. Dilip Thomas and Mr.F.S.Mohan Eddy.
Risk Management: The Audit Committee oversees Risk Management on a continuous basis. A risk management policy is in place.
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