Annual Report: 2024
India Carbon Limited Annual Report 2023-2024 Summary:
Notice and AGM Information: The 62nd Annual General Meeting (AGM) of India Carbon Limited will be held on Wednesday, September 4, 2024, at 10:30 A.M. (IST) via Video Conferencing (VC) or other Audio-Visual Means (OAVM). The AGM will address ordinary business, including the adoption of the Audited Balance Sheet as of March 31, 2024, the Profit & Loss Statement, and Cash Flow Statement for the year ended March 31, 2024, along with the reports of the Board of Directors and Auditors. A dividend declaration of 20% (Rs. 2 per equity share of Rs. 10 each) for the financial year ended March 31, 2024, is proposed. The appointment of Mr. Gordon Kenneth Mcintosh and Mr. Tony William Grims as Directors, liable to retire by rotation, will also be considered.
Special resolutions include the ratification of the Cost Auditor's remuneration for the financial year ending March 31, 2025, where M/s BSS & Associates, Cost Accountants, will be appointed for a remuneration of Rs. 27,000 plus applicable taxes and out-of-pocket expenses. The reappointment of Mr. Rakesh Himatsingka as Managing Director for three years, from December 1, 2024, to November 30, 2027, on terms and conditions mentioned in the draft agreement, is also a special resolution. Additionally, the reappointment of Mr. Shaurya Veer Himatsingka as Joint Managing Director for three years, from April 1, 2025, to March 31, 2028, will be considered.
The appointment of Dr. Anuradha Lohia, Mr. Avijit Mukerji, and Dr. Santanu Mitra as Independent Directors of the Company for a term of 5 years commencing from August 9th, 2024 to August 8th, 2029 will be put forth for approval as Special Resolutions.
Remote E-voting & AGM Instructions: The AGM is conducted through VC/OAVM, without physical presence. Members can attend and participate through VC/OAVM. No physical copy of the Annual Report will be sent. E-voting instructions are provided for shareholders, enabling access through CDSL/NSDL e-Voting systems. Voting begins on September 1, 2024, and ends on September 3, 2024. The process to express views or ask questions and the process for shareholders whose email/mobile number are not registered with the Company/Depositories are mentioned. Directors' Report: The Directors present the 62nd Annual Report for the financial year ended March 31, 2024. Key financial results include revenue from operations of Rs. 42,039.12 Lakh compared to Rs. 56,571.86 Lakh in the previous year, a decrease of 25.69%, caused by sales realization at Guwahati and reduction in Graphite Grade CPC sales. Production of CPC decreased by 13.80%, while ECP production increased by 42.23%. Sales of CPC decreased by 14.43%, while ECP sales increased by 26.26%. The profit after tax increased by 26.58% to Rs. 3,028.25 Lakh. An outlook for the company’s operations and future prospects are discussed. The board recommends a dividend of 20%, i.e., Rs.2/- per equity share of Rs.10/- each. There were no changes in the board except that Gordon Kenneth Mcintosh and Tony William Grimes retire by rotation and are eligible for re-appointment.
Additional points from the Director's report:
Management Discussion and Analysis: The industry structure & development and opportunities & threats along with its segment-wise/ product-wise performance and a positive outlook is provided. Indian Aluminum market is anticipated to reach USD 19.76 billion dollar by 2030, at a CAGR 7.6%. India's highly ambitious infrastructure development plan significantly impacts the demand for Aluminum. India's economy grew by around 8.2% during the financial year 2023-24, sharply higher than around 7% expansion recorded in the previous financial year.
Corporate Governance Report: Highlights India Carbon Limited's commitment to sustainable corporate growth and integrity. It details Board composition, key committees (Audit, Nomination & Remuneration, Stakeholders Relationship, Corporate Social Responsibility), director attendance, and remuneration details. Financial Information, compliance with regulations, auditor certifications, and other relevant disclosures are presented according to SEBI regulations.
Independent Auditor's Report: M/s S. Samanta & Co., Chartered Accountants, is the statutory auditor. The report provides an opinion on the financial statements, adherence to accounting standards, key audit matters, and compliance with legal and regulatory requirements. It includes annexures with detailed information and affirms the adequacy of the internal financial controls system.
Financial Statements: The document includes the Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement, with detailed notes. These notes provide specifics on share capital, reserves, borrowings, provisions, revenue, expenses, and other financial elements, as per the reporting standards and regulatory requirements. These also include the Independent Auditors Report.
Access essential information and documents to make informed investment decisions
Stay updated with upcoming events, conferences, and announcements
Access quarterly and half-yearly financial statements and reports
Download comprehensive annual reports and financial summaries
Access investor presentations, corporate briefings, and slideshows
Unlisted shares are stocks of companies that are not listed on any stock exchange, meaning they are not publicly traded. These shares are typically available for trade in the private market through brokers, and can offer unique investment opportunities.
You can buy unlisted shares through a broker or platform that specializes in unlisted share transactions. We provide a secure and easy way to purchase unlisted shares from top companies, ensuring a smooth transaction process.
The share prices of unlisted companies can fluctuate based on various factors like market demand, company performance, and private transactions. You can check the latest share prices for unlisted companies on our website for real-time updates.
Unlisted shares can offer higher growth potential, as they are typically not subject to the same market volatility as listed shares. However, they come with higher risk due to limited liquidity and availability of information. It's important to research thoroughly and consult experts before investing.
To sell unlisted shares, you can connect with a broker or platform that facilitates the sale of private stocks. We help investors buy and sell unlisted shares with ease, ensuring that your transaction is handled professionally and securely.
Yes, unlisted shares can eventually be listed on a stock exchange through an Initial Public Offering (IPO). This process allows the company to offer its shares publicly and be traded on major exchanges, potentially increasing liquidity and visibility.
Gains from unlisted shares are subject to capital gains tax in India. Short-term capital gains (if held for less than 24 months) are taxed at your applicable income tax rate, while long-term capital gains (if held for more than 24 months) are taxed at 20% with indexation benefits. Always consult a tax advisor for precise tax implications.
The value of unlisted shares is typically determined by private transactions, financial reports, and market demand. We provide the latest updates on share prices of unlisted companies, giving you the most accurate valuation available.
The minimum investment for unlisted shares can vary depending on the company and broker. Generally, the minimum investment is higher than for listed stocks, but we provide detailed information to help you make the best investment decisions.
Yes, unlisted shares may pay dividends if the company has declared them. However, since these companies may be in their growth stage, dividend payments are not always guaranteed. It's important to check the company's financial health before investing.
It's important to conduct thorough research on the company's financials, management, market potential, and overall business model. You can also seek professional advice from experts to help you choose unlisted shares with strong growth prospects.
Gains from unlisted shares are subject to capital gains tax in India. Short-term capital gains (if held for less than 24 months) are taxed at your applicable income tax rate, while long-term capital gains (if held for more than 24 months) are taxed at 20% with indexation benefits. Always consult a tax advisor for precise tax implications.
Our blog provides insightful information about unlisted shares, offering a deeper understanding of how these assets work, their potential benefits, and the risks involved. Whether you're new to unlisted shares or looking to expand your knowledge, we cover topics such as investment strategies, valuation methods, market trends, and regulatory aspects. Stay updated with expert tips and guides to navigate the unlisted share market effectively.
.png&w=750&q=75)
