Annual Report: 2022
Annual Report 2021-22 of India Carbon Limited Summary:
Notice and General Information:
The 60th Annual General Meeting (AGM) will be held on September 30, 2022, via video conferencing. The notice details the agenda, including: adopting financial statements, declaring dividends, appointing/reappointing directors and auditors, ratifying the cost auditor's remuneration, approving investments/borrowing in the ordinary course of business, and authorizing the Board of Directors to make loans, give guarantees, provide security, and make investments up to Rs. 400 Crores. It also covers approval for related party transactions with M/s New Age Petcoke Private Limited and the sale of shares of C&C Investments Limited, a wholly-owned subsidiary. Details regarding e-voting, joining virtual meetings, and dividend payment are provided. The book closure dates are from September 24, 2022 to September 30, 2022.
Directors' Report:
The directors present the 60th Annual Report for the year ended March 31, 2022.
Financial Statements & Independent Auditor's Report:
The financial statements include the balance sheet, statement of profit and loss, statement of changes in equity, and cash flow statement. The report mentions the appointment of M/s. S. Samanta & Co as statutory auditors, and M/s Mahata Agarwal & Associates as secretarial auditor, as well as BSS & Associates as cost auditors.
Management Discussion and Analysis:
The report discusses the industry structure and development, opportunities and threats, segment-wise/product-wise performance, and future outlook. The company expresses optimism about growth and profitability. Highlights include the Indian aluminium industry's global position, increased CPC demand, company's operational performance, the impact of external factors, and the company's continued commitment to human resources, cost optimization, and environmental management. The report expresses that the relation of the Company with its Employees and Workers continued to be cordial and peaceful during the Financial Year.
Corporate Governance Report:
The report outlines the company's corporate governance practices, including board composition, committees, director induction and training, remuneration policy, and compliance with SEBI regulations. Disclosures related to material related party transactions, accounting treatment, non-compliances, risk management, and vigil mechanism are included. Communication methods and general shareholder information are also detailed. It is confirmed that the Independent Directors are in compliance and meet all conditions.
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