Anugraha Valve Castings Limited Unlisted Shares Annual Reports

Anugraha Valve Castings Limited Unlisted Shares

Anugraha Valve Castings Limited - 32nd Annual Report Summary: **Notice of Annual General Meeting (AGM):** The Thirty Second Annual General Meeting will be held on Saturday, September 14, 2024, at 11:00 AM at Sree Annapoorna Sree Gowrishankar Hotels (P) Ltd., Sai Baba Colony Branch, Coimbatore. The agenda includes adopting the standalone audited financial statements for the year ended March 31, 2024, declaring a final dividend of ₹2 per equity share of face value ₹10, and appointing a director in place of Shri Ajay J Shah, who retires by rotation. Special resolutions include approving revisions to the remuneration of Shri R Baskaran and Shri Anandkumar B as Chairman and Managing Director and Joint Managing Director, respectively, and the appointment of Mrs. A Kavitha as a Director in the category of Women Director. Shri R Baskaran's revised remuneration includes a salary of ₹25,00,000 per month and a bonus of ₹75,00,000 per annum. Shri Anandkumar B's revised remuneration includes a salary of ₹22,00,000 per month and a bonus of ₹66,00,000 per annum. Both also have perquisites such as medical reimbursements and leave travel assistance. Mrs. A. Kavitha's appointment is due to the company exceeding ₹300 crores in turnover in FY 2022-23. Shri R Baskaran holds 846121 equity shares and Shri Anandkumar B holds 663862 equity shares in the Company. The meeting's notice and annual report are available on the company website. Dividend will be paid to shareholders appearing in the Register of Members or by the Depository Participant/Registrar and Share Transfer Agent as of the cut-off date, September 7, 2024. Unclaimed dividends up to March 31, 2017, will be transferred to the Investor Education and Protection Fund (IEPF). The register of members and share transfer books will be closed from Saturday, September 7, 2024, to Friday, September 13, 2024. **Board's Report to the Shareholders:** The directors present the 32nd Annual Report and Audited Financial Statements for the year ended March 31, 2024. The company registered a turnover of ₹358.87 Crores, an 18.80% increase from the previous year, and earned a profit before tax of ₹28.28 Crores, against ₹2.87 Crores in the previous financial year. The company is committed to continuous improvement in quality and operational efficiency and expects better prospects compared to the previous year. The Directors recommend a dividend of ₹2.00 per equity share (20% on 3526504 equity shares), resulting in a cash outflow of ₹70.53 Lakhs. The company has not granted any loans or provided guarantees or security or made any investments during the year. The company has a Corporate Social Responsibility (CSR) policy focused on education, health care, sustainable livelihood, and basic infrastructure development. A business risk management policy is in place. Shri Ajay J Shah retires by rotation and seeks reappointment. Mrs. A Kavitha was appointed as an Additional Director and is recommended for appointment. Independent Directors, Shri R Vidhya Shankar and Shri L Kamesh, have given a declaration confirming that they meet the criteria of independence. Shri R Baskaran and Shri Anandkumar B will continue as key managerial personnel until 30/09/2027. The company has an internal audit system and a Vigil Mechanism policy. There were no qualifications, reservations, or adverse remarks made by the Statutory Auditor or Secretarial Auditor. The company maintains cost records as per the Companies Act, 2013. The company had a paid-up Equity Share Capital of ₹3,52,65,040 as of March 31, 2024. The Company has zero tolerance towards sexual harassment at the workplace. **Annexure A: Annual Report on Corporate Social Responsibility ("CSR") Activities:** The company's CSR activities focus on education, health care, sustainable livelihood, and basic infrastructure development. **Annexure B: Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo:** The Company continues its efforts to improve energy conservation. In terms of actual inflows during the year, the Foreign Exchange earned was ₹31748.72 Lakhs. The Foreign Exchange outgo during the year in terms of actual outflows was ₹667.11 Lakhs. **Independent Auditor's Report:** The standalone financial statements give a true and fair view of the company's affairs as of March 31, 2024. Key audit matters were addressed in the audit of the financial statements as a whole. The company has an adequate internal financial control system over financial reporting and such controls were operating effectively as of March 31, 2024. The company has used accounting software with audit trail facility, except for Payroll records, and there have been no instances of tampering.

Anugraha Valve Castings Limited Unlisted Shares

Anugraha Valve Castings Limited 31st Annual Report Summary: **Company Information:** Anugraha Valve Castings Limited, incorporated under CIN: U27109TZ1992PLC003873, has its registered office and works at S.F.NO.391/2, S.G. PUDUR, ARASUR VILLAGE, COIMBATORE - 641 407. The company also lists multiple other unit and windmill locations within Coimbatore and Tirunelveli districts. The administrative office is located at D.NO. 434, CROSS CUT ROAD, LAWRENCE COMPLEX, COIMBATORE - 641 012. The company website is www.anugrahavalvecastings.com, and the email for secretarial matters is secretarial@anugrahavalve.com. **Board of Directors & Committees:** The Board of Directors includes Shri R. Baskaran (Chairman & Managing Director), Shri B. Anandkumar (Joint Managing Director), Shri R. Vidhya Shankar (Independent Director), Shri L. Kamesh (Independent Director), Shri Ramnath Dureja (Non-Executive Director), and Shri Ajay J Shah (Non-Executive Director). The Audit Committee comprises Shri B. Anandkumar, Shri R. Vidhya Shankar, and Shri L. Kamesh. The Nomination and Remuneration Committee includes Shri R. Vidhya Shankar, Shri L. Kamesh, and Shri Ramnath Dureja. **Notice of AGM:** The 31st Annual General Meeting will be held on September 23, 2023, at Sree Annapoorna Sree Gowri Shankar Hotels (P) Ltd., Coimbatore, to approve the financial statements for the year ended March 31, 2023, and to appoint a director in place of Shri Ramnath Dureja, who is retiring by rotation. **Key Financial Highlights (Year ended March 31, 2023):** * Sales & Other Income: ₹32148.79 Lakhs (Previous Year: ₹24814.76 Lakhs) * Profit before Finance Cost and depreciation: ₹1434.38 Lakhs (Previous Year: ₹1490.19 Lakhs) * Profit after Tax: ₹182.87 Lakhs (Previous Year: ₹399.78 Lakhs) * Balance carried to Balance Sheet: ₹18224.62 Lakhs (Previous Year: ₹18041.75 Lakhs) * Turnover of ₹302.09 Crores, a 31.45% increase compared to the previous year (₹229.82 Crores). **Operations and State of Affairs:** The company adopted various business excellence models, including QMS, EMS, and OH&S. The Company is committed to continuous improvement in Quality and operational efficiency. There has been no change in the nature of its business. **Future Prospects:** The first quarter's performance of the financial year 2023-24 was comparatively better. The company expects better prospects comparing to the previous year. **Dividend:** The Directors did not recommend any Dividend for the F.Y. 2022-23. **Loans, Guarantees, Securities or Investments:** During the year, the company did not grant any Loans or provided any Guarantee or Security or made any Investment. **Transfer to IEPF:** Unclaimed interim dividend declared on 21/03/2016 has been transferred to IEPF. **CSR Activities:** The company's CSR activities are focused on education, healthcare, sustainable livelihood, basic infrastructure development and safe drinking water. The report on CSR activities is included as ANNEXURE - A. Two percent of average net profit of the Company as per section 135(5) is .23,94,084/-. **Business Risk Management Policy:** The Board has implemented a risk management policy, including a mechanism for mitigating foreign exchange risks. **Directors' Responsibility Statement:** The directors confirm that the financial statements comply with applicable accounting standards, give a true and fair view of the company's affairs, and are prepared on a going concern basis. **Changes in Board & KMP:** Shri Ajay J Shah retires by rotation and seeks re-appointment. Shri R. Baskaran, and Shri B. Anandkumar continue to be the Key Managerial Personnel of the Company. The period of office of Chairman and Managing Director and Joint Managing Director is ending by 30/09/2027. **Independent Directors:** Shri R. Vidhya Shankar and Shri L. Kamesh have given a declaration of independence. **Remuneration Policy:** The company's policy relating to the appointment and remuneration of directors is available on the company's website. **Employee Details:** Details of top employees' remuneration are disclosed, with R. Baskaran and B. Anandkumar being the highest-paid employees. Detailed employee disclosures are available on the company website. **Meetings of Board and Committees:** Four Board meetings and one Nomination and Remuneration Committee meeting were held during the year. A separate meeting of Independent directors was held on 25th March 2023. **Internal Audit:** M/s. M. Eswaramoorthi & Co, Chartered Accountants, Coimbatore has been appointed as internal auditors. **Internal Financial Controls:** The Board confirms that the Internal Financial Controls are adequate. **Statutory Auditor:** M/s.Κ.Κ.Β. & Associates are the Statutory Auditors. There has been no qualification, reservation, adverse remark or disclaimer given by the Statutory Auditor in their report. **Vigil Mechanism:** The company has a Vigil Mechanism policy. No complaints were received during the year. **Cost Records:** Cost audit is not mandatory. **Material Changes and Commitments:** No material changes or commitments have affected the financial position of the Company between the end of the financial year and the date of the report. **Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo:** Information on these aspects is furnished in ANNEXURE NO. B. **Related Party Transactions:** There were no materially significant related party transactions. **Subsidiaries, Joint Ventures, and Associate Companies:** The Company does not have any. **Deposits:** The Company has neither accepted nor renewed any deposits from the public. **Share Capital:** The Paid up Equity Share Capital was ₹.3,52,65,040/-. The Company had not issued shares or securities, granted stock options, bought back securities, or issued bonus shares. **Sexual Harassment Policy:** The Company has a zero-tolerance policy towards sexual harassment. **Human Resources:** The Company invests in attracting, retaining and developing talent. **Compliance with Secretarial Standards:** The Company is in compliance with the applicable Secretarial Standards. **Acknowledgements:** The Directors express appreciation for the support received from various stakeholders. **Shareholder Information:** Information is provided regarding dividend encashment, electronic credit of dividend, dematerialization of shares, and dates of book closure (September 15th, 2023 to September 22nd, 2023). **Annual Return:** The copy of the Annual Return is available on the company website. **Financial Statement Analysis:** The report includes a detailed breakdown of the Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement, alongside notes on share capital, reserves and surplus, long-term and short-term borrowings, deferred tax liabilities, and other financial assets and liabilities. Detailed notes are included for contingent liabilities, earnings per share, and related party transactions. The audit report provides unqualified opinions on the standalone financial statements and on internal controls over financial reporting, with a focus on transparency, proper accounting, and adherence to regulatory requirements.

Anugraha Valve Castings Limited Unlisted Shares

Anugraha Valve Castings Limited - 30th Annual Report Summary: **Overview:** The report is the 30th annual report for Anugraha Valve Castings Limited, covering the financial year 2021-22. It includes the notice for the Annual General Meeting (AGM) to be held on September 24, 2022, the Board's report to the shareholders, and the audited financial statements. The company CIN is U27109TZ1992PLC003873. **Board of Directors and Committees:** The Board of Directors includes Shri R. Baskaran (Chairman & Managing Director), Shri B. Anandkumar (Joint Managing Director), Shri R. Vidhya Shankar and Shri L. Kamesh (Independent Directors), Shri Ramnath Dureja and Shri Ajay J Shah (Non-Executive Directors). There is an Audit Committee and a Nomination and Remuneration Committee, with their respective members listed. **Notice of Annual General Meeting (AGM):** The AGM will cover ordinary business, including adopting the financial statements for the year ended March 31, 2022, appointing a director (Shri Ajay J Shah) who retires by rotation, and appointing the statutory auditor and fixing remuneration. Special business includes the re-appointment and remuneration of Shri R. Baskaran and Shri B. Anandkumar as Chairman & Managing Director and Joint Managing Director, respectively, for a period from 01/10/2022 until 30/09/2027, subject to approval by the members of the company. Their remuneration details, including salary and perquisites, are provided, and subject to the provisions of the Companies Act, 2013. The register of members and share transfer books will be closed from September 17, 2022, to September 24, 2022. **Board's Report:** The Directors present the 30th Annual Report and Audited Financial Statements for the year ended March 31, 2022. * **Financial Highlights:** The company's turnover increased by 14.28% to ₹229.82 Crores, compared to ₹201.11 Crores in the previous year. Profit before tax was ₹5.37 Crores compared to ₹17.82 Crores in the previous financial year. Cash and bank balances were ₹6.85 Crores as of March 31, 2022. The directors did not recommend any dividend for the financial year 2021-22. * **State of Affairs:** The company has adopted various business excellence models like Quality Management Systems (QMS) and is committed to continuous improvement. There has been no change in the nature of its business. * **Future Prospects:** The global economic environment in the first quarter of FY 2022-23 was negative. The company's operation is closely linked to chemical and refinery industries, which depend on the inflow of orders. Due to the abnormal increase in raw materials and consumables costs, the first quarter’s performance was not good. * **Corporate Social Responsibility (CSR):** The company focuses its CSR activities on education, healthcare, sustainable livelihood, and infrastructure development, and would also undertake other need based social initiatives in compliance with Schedule VII to the Companies Act, 2013. * **Business Risk Management Policy:** The board has implemented a risk management policy, including a hedging policy for foreign exchange risks. * **Director's Responsibility Statement:** The directors confirm that the financial statements comply with accounting standards, give a true and fair view, and that proper accounting records have been maintained. * **Changes in Board of Directors & Key Managerial Personnel:** Shri Ajay J Shah retires by rotation and seeks re-appointment. Shri R. Baskaran and Shri B. Anandkumar continued to be the Key managerial personnel of the Company. * **Remuneration Policy:** The company's policy on appointment of directors, remuneration, and related matters is available on the company's website. * **Meetings and Attendance:** The report details the number of Board meetings and Committee meetings held during the year and the attendance of each director. * **Internal Audit and Controls:** The company has appointed internal auditors, and the Audit Committee evaluates internal financial controls. * **Statutory Auditor:** Recommends the appointment of M/s.K.K.B & Associates, Madurai. * **Cost Records:** Cost audit is not mandatory and Cost Records are being maintained. * **Material Changes:** No material changes have occurred that affected the company's financial position since March 31, 2022. * **Energy Conservation, Technology Absorption, and Foreign Exchange:** Information on these aspects is provided in Annexure VI. * **Related Party Transactions:** All related party transactions were at arm's length and in the ordinary course of business. * **Deposits:** The company has not accepted any deposits from the public, directors, or shareholders. * **Share Capital:** The paid-up equity share capital as of March 31, 2022, was ₹3,52,65,040. * **Sexual Harassment:** The company has a zero-tolerance policy and an Internal Complaints Committee to address sexual harassment. No complaints were received or resolved during the year. * **Human Resources:** The company invests in attracting, retaining, and developing its human resources. * **Compliance with Secretarial Standards:** The company is compliant with applicable Secretarial Standards. **Independent Auditor's Report:** CA R. Maheswaran provides the independent auditor's report, stating that the financial statements present a true and fair view of the company's affairs in accordance with accounting principles generally accepted in India. The report includes annexures detailing compliance with the Companies (Auditor's Report) Order, 2020, and a report on internal financial controls. **Financial Statements:** The balance sheet, statement of profit and loss, and cash flow statement are included, along with detailed notes. Key financial figures are presented in Lakhs. **Corporate Social Responsibility (CSR) Activities:** The Annual Report on Corporate Social Responsibility ("CSR") Activities, in accordance with Section 135 of the Companies Act, 2013 is outlined including; a brief outline of CSR Policy of the Company, Broad Objectives, Size of the CSR Budget, and more. **Other Annexures:** Annexure IV provides a form for shareholders to provide their information. Annexure VI provides details on Conservation of Energy, Technology Absorption, and Foreign Exchange Earnings and Outgo. There is also an Annexure detailing key definitions and information for understanding the Financial Statements of the Company.

Anugraha Valve Castings Limited Unlisted Shares

Anugraha Valve Castings Limited’s 29th Annual Report covers the financial year 2020-21. The 29th Annual General Meeting (AGM) is scheduled for September 25, 2021, at the company's Unit II in Coimbatore. **Board of Directors & Committees:** The Board of Directors includes Shri R. Baskaran (Chairman & Managing Director), Shri B. Anandkumar (Joint Managing Director), Shri R. Vidhya Shankar (Independent Director), Shri L. Kamesh (Independent Director), Shri Ramnath Dureja (Non-Executive Director), and Shri Ajay J Shah (Non-Executive Director). Key committees include the Audit Committee, Nomination and Remuneration Committee, and Corporate Social Responsibility Committee. **Financial Performance:** The company's turnover for FY 2020-21 was ₹.201.11 Crores, a decrease of 11.13% from the previous year (₹.226.30 Crores). Profit before tax was ₹.17.82 Crores, compared to ₹.12.73 Crores in the previous year. Cash and Cash Equivalent as at March 31, 2021, was ₹.7.59 Crores. * **Sales & Other Income:** ₹21630.84 Lakhs (vs. ₹25256.78 Lakhs in the previous year) * **Profit Before Finance Cost and Depreciation:** ₹2771.81 Lakhs (vs. ₹2697.94 Lakhs) * **Profit After Tax:** ₹1395.72 Lakhs (vs. ₹1143.31 Lakhs) * **Proposed Dividend:** ₹2.00 per equity share (20% on 35,26,504 Equity Shares), subject to member approval, resulting in an outflow of ₹.70.53 Lakhs * **Transfer to General Reserve:** ₹1.396 Crores (10% of profits after tax) **Operations & State of Affairs:** Despite COVID-19 related lockdowns, salaries and wages were paid to all employees, and operations resumed on May 6, 2020. The company has maintained its existing customers and orders without impacting production or financial commitments. The company has adopted various business excellence models, including Quality Management Systems (QMS), Environmental Management System (EMS), and Occupational Health & Safety (OH&S). **Future Prospects:** The global economic environment showed positive growth in the first quarter of FY 2021-22. The company's operation is closely linked to chemical and refinery industries and depends on the inflow of orders. **Dividend:** The Directors recommended a dividend of ₹.2.00 per equity share (20%) for the Financial Year ended March 31, 2021, subject to member approval. **Reserves:** ₹.1.396 Crores were transferred to the general reserve. ₹.12.56 Crores is proposed to be retained as surplus in the profit and loss account. **Corporate Social Responsibility (CSR):** The company focuses its CSR activities on education, health, sustainable livelihood, basic infrastructure, and safe drinking water. **Business Risk Management:** The company has implemented a risk management policy to identify and mitigate risks. A separate hedging policy is in place to manage foreign exchange risks. **Directors’ Responsibility Statement:** The directors confirm that applicable accounting standards have been followed, accounting policies are consistently applied, proper care has been taken for maintenance of accounting records, and the annual accounts are prepared on a going concern basis. **Changes in Board of Directors:** Shri Ramnath Dureja retires by rotation and seeks reappointment. Shri R.P. Joshua resigned, replaced by Shri Ramani Vidhya Shankar. Shri R. Ponraj ceased to be an independent director due to his demise. Shri L. Kamesh was appointed as a Non-Executive Independent Director. **Independent Directors Declaration:** Shri R. Vidhya Shankar and Shri L. Kamesh have confirmed that they meet the criteria of independence. **Remuneration Policy:** The company's policy regarding the appointment and remuneration of directors is available on the company's website. **Meetings and Attendance:** Five Board meetings and three Audit Committee meetings were held during the year, with details of attendance provided. **Internal Financial Controls:** The Board confirms that internal financial controls are adequate. No frauds were reported by the Company or auditors. **Auditor's Report:** CA R. Maheswaran, the statutory auditor, confirms that there were no qualifications, reservations, or adverse remarks in his report. The financial statements present a true and fair view. **Other Key Points:** * Cost records are being maintained, and Ramakrishnan & Co. is the Cost Consultant. * No material changes have occurred affecting the company's financial position. * Information on energy conservation, technology absorption, and foreign exchange earnings is provided. * Details of related party transactions are disclosed in the financial statements. * The company has not accepted public deposits. * The paid-up Equity Share Capital is ₹.3,52,65,040/-. * A stringent policy is in place regarding sexual harassment. * The company is in compliance with applicable Secretarial Standards. * Details of Unpaid CSR amount for the preceding three financial years are specified. The report also includes annexures with details on CSR activities, energy conservation, the attendance slip, and the proxy form for the AGM.