Annual Report: 2022
Annual Report 2021-2022
Amol Minechem Limited, formerly known as Amol Dicalite Limited, presents its annual report for the financial year ended March 31, 2022. The Directors of the company are Mr. Shreyas C. Sheth (Chairman & Managing Director), Mrs. Priti S. Sheth (Director), and Mr. Naishadh I. Parikh (Independent Director). The company’s registered office is located at 401, “Akshay”, 53, Shrimali Society, Navrangpura, Ahmedabad – 380009.
Notice is given for the 43rd Annual General Meeting (AGM) to be held on Thursday, October 20, 2022, at 11:00 a.m. at the registered office address, to transact business such as adopting the financial statements, declaring a dividend, and re-appointing a director. Due to the COVID-19 pandemic, the meeting will be held through video conferencing (VC) or other audio-visual means (OAVM), and physical attendance of members will be dispensed with. The facility for appointment of proxies by members will not be available for this AGM.
Financial Performance: The company's sales and operating income increased to INR 4,533.83 Lakhs compared to the previous year's INR 3,890.60 Lakhs. Earnings before Interest, Depreciation and Tax Adjustment (EBIDTA) stood at INR 610.16 Lakhs, against INR 673.25 Lakhs the previous year. The net profit for the year was INR 260.82 Lakhs, compared to INR 337.47 Lakhs the previous year after providing tax liability. The thermal insulation market saw increased demand compared to the previous year; however, increased finance and raw material costs decreased profit margins.
Key Highlights & Disclosures:
Financial Statement Details (Standalone):
Equity:
* Equity Share Capital: 67.77 Lakhs
* Other Equity: 4,357.30 Lakhs
Non-Current Liabilities:
* Borrowings: 627.34 Lakhs
Current Liabilities:
* Borrowings: 495.76 Lakhs
* Trade Payables: 597.50 Lakhs
Total Revenue from Operations: 4,122.75 Lakhs
Profit for the year: 271.33 Lakhs
Auditor's Report:
Corporate Social Responsibility (CSR):
Subsidiary Performance: The financial performance of subsidiaries Amol Cryogenic Insulation (USA) Inc. and Amol Cryogenic Insulation Ltd. (UAE) is detailed in the report.
Share Capital Structure: Authorized share capital: 30,00,000 Equity Shares of ₹10/- each and 10,00,000 4% Redeemable Non – Cumulative Preference Shares of ₹100/- each. Issued, Subscribed & Paid-up Capital 6,77,652 Equity Shares of ₹10/- each.
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