Assam Carbon Products Limited Unlisted Shares Annual Reports

Assam Carbon Products Limited Unlisted Shares

Assam Carbon Products Limited Annual Report 2023-24 Summary: The 61st Annual General Meeting (AGM) will be held on September 4, 2024, via video conferencing. Ordinary business includes adopting the audited financial statements for the year ending March 31, 2024, declaring a dividend of Rs. 3 per equity share, and re-appointing Mr. Rakesh Himatsingka and Mrs. Anita Himatsingka as directors. Special business includes ratifying the remuneration of cost auditors, approving commission payments to Mr. Rakesh Himatsingka, and revising the remuneration of Ms. Maalika Himatsingka and Mr. Jayant Kumar as Whole-time Directors. Remote e-voting will be available to members, and the register of members will be closed from August 29 to September 4, 2024. The company's Corporate Information lists Mr. Rakesh Himatsingka as Chairman, and Ms. Maalika Himatsingka and Mr. Jayant Kumar as Whole-time Directors. The registered office is in Guwahati, Assam, and the corporate office is in Kolkata. Auditors include D. Basu & Co. (statutory), BSS & Associates (cost), and J. Kumar Jain & Associates (internal). C B Management Services (P) Ltd is the Registrar & Share Transfer Agent. The notice details the process for electronic voting and attending the AGM via video conferencing. The Board of Directors recommends the approval of resolutions related to the ratification of cost auditor remuneration, payment of commission to Mr. Rakesh Himatsingka (up to 1% of net profits), and revisions in the remuneration of Ms. Maalika Himatsingka and Mr. Jayant Kumar. Rakesh Himatsingka's commission for FY 2024-2025 approved by the board amounted to Rs.11,41,000. The revised remuneration for Ms. Maalika Himatsingka includes a basic salary of Rs. 1,15,000 per month with annual increments, along with other allowances and perquisites, along with 2% net profits. The revised remuneration for Mr. Jayant Kumar is similar, but with commission set at 0.5% of net profits. Detailed terms of revised remunerations, as well as potential conflicts of interest, are detailed in the notice. The Directors' Report highlights the company’s position as a market leader in Electrical, Mechanical & Specialty Carbon Products with factories in Guwahati and Patancheru. Revenue from operations increased to Rs. 6263.85 Lakh. A dividend of Rs.3 per share is recommended. Hon'ble Finance Minister announced three new corridors for the railways. The board recommends reappointment of Mr. Rakesh Himatsingka and Mrs. Anita Himatsingka. Ms. Maalika Himatsingka and Mr. Jayant Kumar were appointed to whole-time director roles; Dr. Sharmistha Banerjee and Mr. Hemant Kumar Khaitan as Additional Independent Directors. M/s. D. Basu & Co. remain statutory auditors until 2025. The audit and Nomination & Remuneration Committees have been reconfigured due to resignations. There's mention of a Vigil Mechanism/Whistle Blower Policy and other mandatory compliances. The Directors' Report also contains information on related party transactions, common and simplified norms for processing investor service requests, common Directors' responsibilities statement, corporate social responsibility, and number of board meetings. Annexures include details on Directors seeking appointment/reappointment, certificates regarding non-disqualification of directors, secretarial audit report, conservation of energy, technology absorption, and CSR initiatives. A statement on managerial remuneration exceeding prescribed limits, an analysis of the company’s operations and financial conditions, and report on corporate governance are also provided. The company's future outlook indicates growth in manufacturing, with a focus on self-reliance and exports. The manufacturing sector is projected to contribute 25% of India's GDP by 2025. Financial Results (INR'000 except EPS Figure) 2019-20 4,84,429 2020-21 4,95,285 2021-22 4,25,374 2022-23 5,04,174 2023-24 5,67,819 Total Revenue 6,43,153 Revenue from Operation 6,26,385 Total Comprehensive Income 82,545 Earning Per Share (Basic & Diluted) 29.85

Assam Carbon Products Limited Unlisted Shares

Assam Carbon Products Limited Annual Report 2022-23 Summary: **Corporate Information:** Assam Carbon Products Limited (ACPL) has the CIN: L23101AS1963PLC001206. Key personnel include Mr. Rakesh Himatsingka (Chairman), Mr. Jayant Kumar (Whole-time Director), Mrs. Anita Himatsingka, Ms. Maalika Himatsingka, Mr. Susheel Kumar Sharma, Mrs. Rupanjana De (Independent Director), Mr. Avinash Kumar Gupta (Independent Director), Mr. Sanjay Kumar Lhila (Independent Director), Mr. Jnyan Prasad Deuri (AIDC Nominee), Mr. Pijush Bysack (Chief Financial Officer), and Ms. Parinita Goenka (Company Secretary). The registered office is in Guwahati, Assam, and the corporate office is in Kolkata. Auditors include D. Basu & Co. (Statutory Auditors), BSS & Associates (Cost Auditors), and J. Kumar Jain & Associates (Internal Auditors). **Notice of Annual General Meeting:** The 60th Annual General Meeting (AGM) is scheduled for September 1, 2023, via video conferencing. Ordinary business includes adopting financial statements, declaring dividend, and re-appointing Ms. Maalika Himatsingka and Mr. Susheel Kumar Sharma as Directors. Special business includes ratifying the remuneration of cost auditors, approving commission to Mr. Rakesh Himatsingka (Non-Executive Chairman) up to 1% of net profits from financial year 2021-2022 onwards, and appointing Ms. Maalika Himatsingka as a Whole-time Director for 5 years (August 1, 2023 to July 31, 2028), subject to shareholder approval. Approval is sought to increase the limit of managerial remuneration to Ms. Maalika Himatsingka beyond 5% of net profits. Remote e-voting is available to members. The board recommends a dividend of 20% (Rs. 2 per share). The Register of Members will be closed from August 26, 2023 to September 1, 2023. **Directors' Report:** ACPL is a market leader in Electrical, Mechanical, and Specialty Carbon Products with factories in Guwahati and Patancheru. The company's revenue from operations increased to Rs. 5489.11 Lacs in FY23 compared to Rs. 4704.54 Lacs in FY22. Profit before tax increased to Rs. 953.85 Lacs. Export sales increased to Rs. 135.25 Lacs. The Directors recommend a dividend of Rs.2/- per equity share. M/s. D. Basu & Co. continues as Statutory Auditors, their tenure ending in the year 2025. The board consists of both executive and non-executive directors. Key Managerial Personnel include Kali Krishna Bhattacharya (Managing Director till August 31, 2022), Jayant Kumar (Whole-time Director from January 1, 2023), Pijush Bysack (Chief Financial Officer), and Parinita Goenka (Company Secretary). The company is compliant with Corporate Governance provisions and has established a Code of Conduct and a Whistle Blower Policy. The Audit Committee comprises 4 members. The board approved the appointment and reappointment of certain directors, which will be presented for approval at the AGM. The report also covers aspects like internal financial control system, risk management policy, going concern status, share capital, evaluation of board performance, number of board meetings, vigil mechanism, audit committee, nomination and remuneration committee, stakeholders relationship committee, related party transactions, CSR, employees/managerial remuneration, and directors’ responsibility statement. **Annexures to the Directors' Report:** A summary of related party transactions (Form AOC-2), Whole-Time Director's Certificate on Compliance with the Code of Conduct, Secretarial Audit Report (Form MR-3), Extract of Annual Return (Form MGT-9), Information on Conservation of Energy, Technological Absorption and Foreign Exchange earnings and outgo, Details of Remuneration of Employees, and Report on Corporate Social Responsibility (CSR) Initiatives. **Financial Statements:** The financial statements include the Balance Sheet, Statement of Profit and Loss, Cash Flow Statement, and Statement of Changes in Equity as of March 31, 2023, along with detailed notes. ACPL reported a total asset value of Rs 5,52,125 thousand. This summary provides a comprehensive overview of the Assam Carbon Products Limited Annual Report 2022-23, covering key areas of the company's performance, governance, and future outlook.

Assam Carbon Products Limited Unlisted Shares

Assam Carbon Products Limited Annual Report 2021-22 Summary: **Company Overview:** Assam Carbon Products Limited (ACPL) is a market leader in electrical, mechanical, and specialty carbon products, operating two factories in Guwahati and Patancheru (near Hyderabad). The Guwahati factory manufactures carbon and graphitized blocks and blanks for electrical and mechanical carbon applications. The Patancheru factory handles fabrication, precision machining, and manufactures Railway Traction products such as pantographs, current collectors & silver-impregnated graphite railways signaling contacts. The Patancheru factory also has Mechanical and Specialty Graphite Divisions. The company fabricates carbon seals, bearings, vanes, thrust pads, hi-temp insulators, fuel cells, heating elements, casting dyes, lubricating blocks and "Aegis" shaft grounding brushes. **Financial Performance:** The report includes detailed financial results: * Total revenue increased to Rs. 504,174,000 in FY 2021-22, compared to Rs. 425,374,000 in the previous year. * Revenue from operations increased to Rs. 470,454,000 from Rs. 414,092,000 in the previous year. * Total comprehensive income was Rs. 65,407,000. * Earning Per Share (Basic & Diluted) was Rs 22.88 **Dividend:** The Board of Directors decided not to declare any dividend for FY 2021-22 to conserve cash, influenced by the impacts of the Covid-19 pandemic and a 60% decrease in offtake by the Indian Railways, which resulted in a reduced turnover. **Future Outlook:** The company continues to focus on health and safety, uninterrupted supply of products, meeting consumer demand, community care, safeguarding the environment and protecting its business model. The company will address lowered sales and profitability due to global pandemic and pressure on demand and prices, balancing plant and machineries, refurbishing old equipment and adding new equipment, optimizing production through modernization, and improving raw materials procurement and stocks. Indian Railways have a 'National Rail Plan (NRP) for India - 2030' aimed at increasing Railways' share in freight to 45%. Key objectives include strategies for operational capacities and commercial policy to reach the 45% freight target, reduce freight transit times, and launch Vision 2024 to complete electrification. The company has identified and inducted new customers in high growth business opportunities, plans substantial expansion in Mechanical Carbons, especially for Radial Bearings & Vanes and plans to keep up with the rapidly growing demand. **Directors and Key Personnel:** * Rakesh Himatsingka is the Chairman and Non-Executive Director. * Kali Krishna Bhattacharya is the Managing Director. * Anita Himatsingka and Maalika Himatsingka are Non-Executive Directors. * Rupanjana De, Sanjay Kumar Lhila, and Avinash Kumar Gupta are Independent Directors. * Jnyan Prasad Deuri is an AIDC Nominee Director. * Pijush Bysack is the Chief Financial Officer. * Parinita Goenka is the Company Secretary and Compliance Officer (appointed 1st October, 2021). **Corporate Governance:** * Independent Directors have submitted declarations meeting independence criteria. * The company has an Internal Financial Control System, with internal audit reports reviewed by the Audit Committee. * A Risk Management Policy is in place, evaluating business risks. * A Vigil Mechanism/Whistle Blower Policy exists. **Committee Composition:** * **Audit Committee:** Mr. S K Lhila (Chairman), Mrs. Rupanjana De (Member), Mr. Avinash Kumar Gupta (Member), and Mr. Rakesh Himatsingka (Member). * **Nomination and Remuneration Committee:** Mr. S K Lhila (Chairman), Mrs. Rupanjana De (Member), Mr. Rakesh Himatsingka (Member), and Mr. Susheel Kumar Sharma (Member). * **Stakeholders Relationship Committee** Mr. S K Lhila (Chairman), Mr. Avinash Kumar Gupta (Member), Mr. Rakesh Himatsingka (Member) and Mrs. Anita Himatsingka (Member) **Related Party Transactions:** * The company has a policy on Related Party Transactions. * Transactions were in the ordinary course of business and at arm's length. **Other Key Points:** * The company complied with the Sexual Harassment of Women at Workplace Act, 2013. * M/s. BSS & Associates were appointed as Cost Auditors. * The Directors confirm compliance with accounting standards, asset protection, and going concern basis. * The company had a total Corporate Social Responsibility (CSR) Obligation for the financial year 2021-2022 for Rs. 15.24 Lacs

Assam Carbon Products Limited Unlisted Shares

Here is a detailed summary of the Assam Carbon Products Limited Annual Report 2020-21, covering key information and insights from the document. **Corporate Information and Governance:** * **Company Overview:** Assam Carbon Products Limited (ACPL) is a market leader in Electrical, Mechanical, and Specialty Carbon Products. It has two factories located in Guwahati, Assam, and Patancheru, Telangana. The Guwahati factory primarily manufactures carbon and graphitized blocks and blanks, while the Patancheru factory focuses on fabrication and precision machining, including carbon brushes and other railway traction products. * **Board of Directors:** The report lists the Board of Directors, including Rakesh Himatsingka (Chairman), Kali Krishna Bhattacharya (Managing Director), and several other executive and non-executive directors. There were changes during the year, including the resignation and appointment of nominee directors from AIDC Ltd. * **Annual General Meeting (AGM):** The 58th AGM was scheduled for September 30, 2021, to be held through video conferencing (VC) or other audio-visual means (OAVM). The notice outlines the ordinary and special business to be transacted, including the adoption of financial statements, re-appointment of directors, ratification of cost auditor remuneration, and approval of commission payment to the Non-Executive Chairman. * **E-Voting:** The company provided the facility for remote e-voting to members, adhering to SEBI regulations. Detailed instructions for accessing the e-voting system (NSDL) and participating in the AGM via VC/OAVM are provided, along with contact information for technical assistance. **Financial Performance and Operations:** * **Financial Results:** The report includes financial results for the years 2016-17 to 2020-21. While total revenue decreased in 2020-21 to ₹4140.92 Lacs (compared to ₹4844.29 Lacs in the previous year), the company still reported a profit before tax of ₹542.19 Lacs. The decrease in revenue is attributed to the challenges posed by the COVID-19 pandemic and reduced railway operations. * **Operational Challenges:** The COVID-19 pandemic significantly impacted the company's operations, causing restricted movement, disrupted supply lines, and a decline in demand. The Indian Railways, a major customer, operated at reduced capacity, affecting sales. * **Cost Management:** Despite the challenges, the company focused on cost-cutting measures, savings in power and fuel, and improved efficiency and productivity. * **Future Outlook:** The company anticipates a recovery in GDP growth and is focused on new business opportunities and customer segments to offset the impact of the decline in DC locomotive demand. * **Overseas Subsidiaries:** The company's UK subsidiary, Assam Carbon Products UK Limited (ACUK), was dissolved due to the pandemic and inability to commence operations. **Key Ratios and Financial Highlights:** * **Debtors Turnover:** Increased from 3.5 in 2020 to 3.58 in 2021 * **Inventory Turnover:** Decreased from 1.56 in 2020 to 1.42 in 2021 * **Interest Coverage:** Decreased from 16.18 to 6.52 * **Current Ratio:** Decreased from 0.73 to 0.55 * **Debt Equity Ratio:** Decreased from 0.11 to 0.10 * **Net Profit Margin:** Decreased from 16.71% to 8.51% * **Return on Net Worth:** Decreased from 40.93% to 13.31% **Corporate Social Responsibility (CSR):** * The Company has a CSR policy and undertakes initiatives in areas such as promoting education and health care. A CSR Committee oversees these activities. * For the financial year, there was a CSR obligation of Rs. 16.50 Lacs. and the total expenditure was Rs. 16.85 Lacs. **Other Important Points:** * **Directors' Responsibility Statement:** Confirms the accuracy of financial statements and adherence to accounting standards. * **Auditors' Report:** Unmodified opinion on the financial statements, with attention drawn to certain notes. * **Related Party Transactions:** Disclosed in detail. * **Shareholding Pattern:** Provided, including details of promoter and public shareholding. * **Independent Directors:** Have confirmed they meet the criteria for independence. * **Internal Control System:** States that the company has an adequate internal financial control system in place. * **Directors and Key Managerial Personnel:** Lists the directors and key managerial personnel of the company, including any changes during the year. * **Material Changes and Commitments:** No material changes and commitments occurred affecting the company's financial position after the balance sheet date. This summary encapsulates the significant elements of Assam Carbon Products Limited's annual report for 2020-21. It is essential to refer to the full report for complete details and a more in-depth understanding.