Annual Report: 2021
The 41st Annual Report (2020-21) of Camac Commercial Company Limited (CIN: L70109DL1980PLC169318) highlights the company's financial performance, governance, and compliance. The Annual General Meeting (AGM) is scheduled for September 30, 2021, via video conferencing.
Corporate Information & Key Personnel: The registered office is located in New Delhi. The directors are Mr. Abhinav Srivastava, Ms. Monisha Saraf, and Ms. Swati Srivastava. Mr. Sanjay Kumar serves as the Chief Financial Officer, Mr. Sunil Singh is the Manager, and Ms. Surabhi Srivastava is the Company Secretary. HDFC Bank Limited is the banker. The statutory auditors are M/s K. N. Gutgutia & Co., the secretarial auditors are M/s. Balraj Sharma & Associates, and the internal auditors are M/s. Nidhi S Gupta. M/s. Niche Technologies Pvt. Ltd. is the share transfer agent.
AGM & Business Matters: The AGM will address the adoption of audited financial statements for the year ending March 31, 2021, the re-appointment of Ms. Swati Srivastava as director (retiring by rotation), and the re-appointment of Mr. Sunil Singh as manager. The notice outlines the process for members to participate in the AGM through video conferencing, including e-voting procedures. The e-voting period will be open from September 27, 2021, to September 29, 2021.
Board's Report & Financial Results: The Board's Report details the financial results for the year ended March 31, 2021, with comparative figures from the previous year (March 31, 2020). Total Income: ₹428.14 Lakhs (2021) vs. ₹528.72 Lakhs (2020) Total Expenditure: ₹85.13 Lakhs (2021) vs. ₹67.59 Lakhs (2020) Profit Before Tax: ₹343.01 Lakhs (2021) vs. ₹461.13 Lakhs (2020) Profit After Tax: ₹286.98 Lakhs (2021) vs. ₹386.69 Lakhs (2020) Consolidated Profit After Tax: ₹453.45 Lakhs (2021), with ₹166.47 Lakhs relating to Associate Companies
The board does not recommend a dividend for the financial year 2020-2021. The company has invested its surplus funds in debt-based mutual funds. The Board proposes to carry ₹57.40 lakh to special reserve. The company has not accepted any public deposits. There were no loans or guarantees given under Section 186 of the Companies Act, 2013.
Board Changes & Evaluations: Mr. Abhinav Srivastava was appointed as an Independent Director. The board performed an evaluation of independent directors, committees, and the board as a whole. Eight board meetings were held, with no gap exceeding 120 days. Ms. Monisha Saraf chaired a meeting of independent directors.
Other Key Points from the Report: The company's CSR obligation for the financial year 2020-21 was ₹8.60 lakhs, and the company contributed this amount to the Times Foundation. The company has a Vigil Mechanism/Whistle Blower Policy. The company is compliant with corporate governance requirements. There were no material related-party transactions. Mr. Sanjay Kumar (CFO), Ms. Surabhi Srivastava (Company Secretary) and Mr. Sunil Singh (Manager) are detailed with the years of experience, remuneration and other employment details. The company is registered as an NBFC but is now categorized as a Systemically Important Non-Deposit-taking NBFC due to its asset size crossing ₹500 crores. The Company's Registrar and Transfer Agent is Niche Technologies Private Limited. The notice and Annual Report are available on www.camaccommercial.com and www.evotingindia.com The annual return of the company as at March 31, 2021 is available on the company's website.
Auditor's Report & Internal Control: The auditor's report from K.N. Gutgutia & Co. states that the standalone and consolidated financial statements give a true and fair view. They found no key audit matters to communicate. The auditor also provided a separate report expressing an unmodified opinion on the adequacy and operating effectiveness of the company's internal financial controls over financial reporting. Balraj Sharma & Associates conducted the secretarial audit, expressing that the company generally complied with the statutory provisions.
Shareholding Pattern: The report includes details on the distribution of shareholding and category-wise shareholding pattern as of March 31, 2021, including the number of shareholders and shares held in various holding ranges and by different categories of shareholders (promoters, public, etc.). As of March 31, 2021, 8,65,427 Equity Shares, representing 98.03 % of the total Equity Share Capital, have been dematerialized.
Management Discussion and Analysis Report (MDA): The MDA discusses the impact of COVID-19, company performance, opportunities, threats, risk and concern, internal control systems, and their adequacy. It says the company earned a net profit of Rs 286.98 Lakhs during the year 2020-21. The MDA highlights the company’s focus on safe work environments and prudent investments.
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