APL Metals Unlisted Shares Annual Reports

APL Metals Unlisted Shares

APL Metals Limited 75th Annual Report Summary (2023-2024): **Company Overview:** APL Metals Limited, formerly known as Associated Pigments Limited, is engaged in the production of refined lead and lead alloys. During FY 2023-24, lead production constituted approximately 89% of the total output, while lead oxides represented about 11%. The company has three manufacturing units: a lead manufacturing unit at Panskura, a lead oxide manufacturing unit at BT Road, Kolkata, and another lead oxide manufacturing unit at Malwan, Uttar Pradesh. The manufactured goods are primarily used as raw materials for lead-acid storage batteries. The corporate headquarters and registered office shifted to 16/S, Block-A, 2nd Floor, New Alipore, Kolkata-700053, effective July 1st, 2024. **Annual General Meeting (AGM) Information:** The 75th AGM is scheduled for Thursday, September 26th, 2024, at 12:30 PM IST via video conferencing (VC) or other audio-visual means (OAVM). The notice details ordinary and special resolutions to be considered, including the adoption of financial statements, re-appointment of Mr. Prakash Damani as a director, and approval of material related-party transactions. **Material Related Party Transactions:** The AGM seeks approval for material related-party transactions (RPTs) with the promoter group, concerning loans/financial facilities, repayment of loans, finance costs involving sales, purchases, leasing, assignment, and services with specified related parties, within an overall limit not exceeding INR 200 Crores for financial years 2024-25 up to 2030-31. A similar resolution seeks approval for material RPTs with non-promoter group entities. **AGM Logistics & Voting:** The AGM will be held virtually, dispensing with physical attendance. Remote e-voting is available to members through Central Depository Services (India) Limited (CDSL). Members can join the AGM via VC/OAVM 15 minutes before and after the scheduled time, with participation limited to at least 1000 members on a first-come, first-served basis, excluding large shareholders, directors, and other key personnel. **Financial Performance (FY 2023-24):** The financial year was challenging for the lead recycling industry due to high inflation, rising import costs, and logistic barriers. Production decreased by 6.96% to 38,648 MT. Export sales fell by 40.21% to Rs 38.91 crores. Overall gross sales decreased by 4.23% to INR 869.28 Crore. The cost of materials also declined by 2.93% to INR 637.78 crores. The company incurred a loss before tax of INR 13.10 crores. The net loss after tax is INR 9.84 crores. **Key Financial Ratios & Changes:** * Debt Service Coverage Ratio declined significantly from positive 0.93 to negative 0.94. * Return on Equity declined from positive 17.94% to negative 97.43%. * Trades Payable Turnover declined by 57.05%. * Net Capital Turnover declined by 28.04%. * Net Profit Ratio declined by 506.55%. **Directors' Report Highlights:** * Board proposed centralizing its two manufacturing units at one location in West Bengal and entering into a Joint Development of Property on vacant land. The land has been converted to Stock in Trade at Fair Market Value determined by an approved Valuer, resulting in comprehensive income of INR 31.50 Crores (net of Deferred Tax INR 9.34 crores). * The company complies with stringent pollution control norms. * The Company's shares are listed on the Calcutta Stock Exchange. * M/s VPC & Associates are appointed as Statutory Auditors with M/s B. Saha & Co. as the cost auditors. **Corporate Social Responsibility (CSR):** The company has a CSR policy and spent Rs. 13.50 lacs for FY 2023-24. **Directors and KMP:** * Prakash Kumar Damani is the Non-Executive Chairman of the Board. * Sanjiv Nandan Sahaya is the Managing Director and CEO. * Key Managerial Personnel: Mr. Rajnish Gambhir (Chief Financial Officer) and Mr. Ram Narayan Prajapati (Company Secretary). * Appointment of Mr. Varun Daga as an Independent Director and Mr. Rahul Damani, as a director liable to retire by rotation. * Resignation of Mr. Om Prakash Saxena as Independent Director with effect from 30th May, 2023. **Risk Management:** The company regularly reviews and monitors risks related to supply chains, environmental norms, fluctuating prices, and financial factors in Board/Committee Meetings. Foreign currency risk is hedged. **Internal Controls:** The company has established internal control systems, with internal audits conducted quarterly and reviewed by the Audit Committee. **Vigil Mechanism:** The company has a vigil mechanism/whistleblower policy. **Operational Information:** Registered Office: 16/S, Block-A, 2nd Floor, New Alipore, Kolkata-700053. Email: secretarial@aplgroupco.com; Website: www.aplmetalsltd.com; Telephone: 033-35836907 Plant Locations: B.T. Road (Kolkata), Malwan (Fatehpur, U.P.), and Panskura (West Bengal).

APL Metals Unlisted Shares

APL Metals Limited (Formerly - Associated Pigments Limited) is a company primarily engaged in the production of Refined Lead and Lead Alloys at its plants at Panskura (West Bengal) and Lead Oxides at its plants at B. T. Road (West Bengal) and Malwan (Uttar Pradesh). Its registered office is located in Kolkata, West Bengal. The 74th Annual General Meeting of the Members of the Company will be held on Thursday, the 21st of September, 2023 at 12.30 P.M IST through Video Conferencing (“VC”)/Other Audio-Visual Means (“OAVM") to transact the following business: Ordinary Resolution to receive, consider and adopt the Financial Statements for FY 2022-23, Ordinary Resolution to re-appoint Mr. Raghav Bajoria (DIN: 08713745) as a retiring director, Ordinary Resolution to appoint Mr. Rahul Damani (DIN: 05216197) as Director, liable to retire by rotation, Special Resolution to appoint Mr. Varun Daga (DIN-06770822) as an Independent Director of the Company, and Ordinary Resolution to ratify the remuneration of Cost Auditors for Financial Year 2023-24 The financial year 2022-23 was very challenging for lead recycling industry in India due to high inflation, rise in import costs, logistic barriers on international movement of merchandise for imports as well as exports, rising foreign currency costs and finance cost in India. The Production for the year 2022-23 was down by 2.37% which appears better when compared with 9.37% fall in the preceding financial year 2021-22. Exports during the year 2022-23 declined by INR 68.70 Crore (51%) from INR 133.77 Crore in 2021-22. The exports had increased three fold in last year to INR 133.77 Crore as against INR 32.41 Crore in FY 2020-21. The gross domestic Sales rose by 16% to INR 842.59 Crore from INR 726.28 Crore in 2021-22 which was due to increase in both volume as well as prices. The Operating Profit before finance cost, depreciation and taxes increased marginally by 11.90% from INR 22.12 crore in last year to INR Rs 24.74 crore in FY 2022-23. The Net profit for the year declined to Rs 2.53 crore as against Rs 4.96 crores. In view of drastic reduction in exports in the first quarter ended June, 23 by 61% to INR 8.61 crore from INR 22.17 Crore in June,22 the company has been forced to reduce production. Hence, the production in first quarter of FY 2023-24 has been down by 22 % to 9650 MT as against 12350MT in Quarter ended June, 2022. Gross Turnover in June, 23 qtr is INR 220.51 crore as against INR 270.54 crores in June, 22 qtr, down by about 19% due to better pricing this year. The company proposes to set-up battery breaking unit involving about Rs four crores to break battery 50000MT Per annum @15MT per hour which will enable it to expedite feeding of battery scrap for increasing production of lead from smelting route. The company has spent a sum of Rs 16.00 lacs for FY 2022-23 and full details of CSR activities on which the expenditure has been incurred as prescribed in the Companies (Corporate Social Responsibility Policy) Rules, 2014 is appended as Annexure - 3 to this Report. Key financial figures (in crores): Gross Sales: 907.66 (2022-23) , 860.05 (2021-22) Net Revenue from Operations: 735.84 (2022-23), 724.29 (2021-22) Total Income: 736.67 (2022-23), 724.68 (2021-22) Profit/ (Loss) before Depreciation, Finance Cost and Tax: 24.74 (2022-23), 22.12 (2021-22) Net Profit/ (Loss) after Tax: 2.53 (2022-23), 4.96 (2021-22) Total Comprehensive Income as per Audited Accounts: 1.89 (2022-23), 4.44 (2021-22) Key Management Personnel Mr. Sanjiv Nandan Sahaya, Chairman & Managing Director Mr. Rajnish Gambhir, Chief Financial Officer Mr. Ram Narayan Prajapati (FCS-1889), Company Secretary and Compliance Officer Auditors: M/s VPC & Associates Secretarial Auditor: Rinku Gupta & Associates Cost Auditor: B. Saha & Associates Bankers: Indian Bank and Axis Bank The Equity Shares of the Company continue to be listed with The Calcutta Stock Exchange and all annual listing fees billed by the exchange have been paid up-to date.

APL Metals Unlisted Shares

The 73rd Annual Report of APL Metals Limited for 2021-2022 covers the notice for the Annual General Meeting (AGM), Director's Report, Corporate Governance, and Audited Financial Statements. The AGM is scheduled for September 15, 2022, via video conferencing, where members will consider adopting the financial statements for FY 2021-22, re-appoint Mr. Prakash Kumar Damani as a director, and appoint M/S VPC & Associates as the statutory auditor, replacing M/S Sanjay Maheswary & Company. Remuneration of the Cost Auditors for the financial year 2022-23, M/s. B. Saha & Associates, is also to be ratified. The notice details the procedure for e-voting and joining the virtual meeting, including instructions for shareholders holding shares in demat and physical modes. It emphasizes the mandatory furnishing of KYC details and nomination by holders of physical securities, as per SEBI circular. The Director's Report discusses the company's performance in the context of the Indian economy and the lead storage battery industry. APL Metals Limited, originally Associated Pigments Limited, is a 73-year-old company manufacturing Lead and lead oxides across three units. The company observed an 8.7% GDP growth rate in FY 2021-22 despite several challenges. Revenue from operations increased by 14.36% to Rs. 724.29 Crores, but operating profit (EBITDA) decreased to Rs. 22.12 Crores compared to Rs. 25.70 Crores in the previous year. The Company’s earnings per share were Rs. 4.62 during the current year. Due to inadequate current year profit to absorb past losses, the board couldn't recommend dividends. Key financial ratios are presented, with explanations for changes between FY 2021 and FY 2022. The report also mentions risks related to supply chain management, environmental compliance, fluctuating raw material prices, and foreign exchange fluctuations, with the management taking steps to mitigate these risks. The company has implemented a Risk Management Committee. There has been no change in the nature of the business, and there were no significant orders passed by regulators impacting the going concern status. APL Metals Limited reports on Occupational Health, Safety, Environment, Internal Financial Control, and Share Capital & Reserves. The Board consists of both Independent and Non-Independent Directors and a list of Key Managerial Personnel as well. The company has established systems for evaluating the board, committees, and individual directors. Also, the company’s code of conduct and ethics for the board and senior management is in place. The Annual Report contains Annexures, including the Corporate Governance Report, which covers aspects such as the composition of the Board and its committees, meetings held, remuneration policy, and stakeholder relationships. The report states commitment to addressing shareholder grievances and compliance with SEBI regulations. CSR activities, in compliance with Section 135 of the Companies Act, 2013 with Rs 12.25 lacs spent for FY 2021-22, are detailed. B. Saha & Associates are Cost Auditors for cost audit of records of the Company. Statutory auditors have issued unmodified opinions. There is a report on Sexual Harassment, a Secretarial Audit was conducted and the Company is complaint to Secretarial Standards. The financial statements include the balance sheet, statement of profit and loss, statement of changes in equity, and cash flow statement, along with notes explaining various accounting policies and financial details.