Manjushree Technopack India Limited Unlisted Shares Annual Reports

Manjushree Technopack India Limited Unlisted Shares

The document is Manjushree Technopack Limited's Annual Report for FY 2023-24. Shivakumar Dega serves as Chairman and Independent Director, while Thimmaiah NP is the Managing Director and CEO. **Strategic Objectives** The report focuses on strategies for building a world-class institution, emphasizing profitable growth across business units and functions, customer centricity, process excellence, and cultivating a highly motivated and challenged team as the best place to work. The company embraces a collaborative approach to innovation, focusing on customer-led concepts. Environmental responsibility is highlighted through best-in-class ESG practices and close-loop recycling capabilities, maintaining agile and responsive operations, ethics and integrity. **Financial Performance & Key Metrics** The Chairman's Speech notes that the world economy is expected to grow by 2.5-3% this year, while India's GDP is anticipated to grow closer to 7%. More than 60% of India's GDP is consumption-led. The global packaging market is estimated at $1.23 trillion, with India's market valued at $135 billion. The Board's Report indicates a consolidated gross turnover of Rs. 2,11,700.27 Lakhs for FY2024, compared to Rs. 2,09,633.87 Lakhs in FY2023. Gross profit increased to Rs. 51,757.73 Lakhs from Rs. 40,589.98 Lakhs, and operating profit was reported at Rs. 37,332.99 Lakhs, versus Rs. 29,350.85 Lakhs in the previous fiscal year. The profit before tax (excluding OCI and exceptional items) for FY2024 was Rs. 14,029.00 Lakhs, compared to Rs. 9,435.27 Lakhs in FY2023. The net surplus after taxation was Rs. 14,177.45 Lakhs, resulting in a basic EPS of Rs. 103.92. **Corporate Actions & Capital Structure** During the year, the company did not issue shares with differential voting rights, stock options, or sweat equity shares, and no shares were bought back. The authorized capital is Rs. 25.10 Crores. The company has submitted a Draft Red Herring Prospectus (DRHP) with SEBI, BSE, and NSE for its proposed IPO. The Board approved the acquisition of plastic closures and preforms business from Oricon Enterprises Limited for Rs. 520,00,00,000, completed on July 24, 2024. Mannu Bhatia was appointed as an Additional Director of Independent category on 12-07-2024. Ashok Sudan, Jayesh Tulsidas Merchant, and Mannu Anand resigned from directorship on 15th July 2024. Authorized Capital was changed to Rs. 25.10 Crores divided into 22,55,00,000 Equity Shares of Rs. 2/- each. The Company has issued rights issue of CCDs to the Shareholders and allotted on 15th July 2024 5,26,95,960 CCDs and on 24th July 2024 2,13,734 CCDs **Governance & Compliance** The company has conducted multiple board and committee meetings to ensure compliance. These include meetings of the Board, Audit Committee, Nomination and Remuneration Committee, Corporate Social Responsibility Committee, Stakeholders Relationship Committee, and Risk Management Committee. The Independent Directors have confirmed they meet independence criteria. The Board has carried out annual evaluations of its performance, committees, and individual directors, fulfilling the provisions of the Companies Act, 2013. **Operational Efficiency & Sustainability** The company is committed to conserving energy. Electricity consumption data and efforts in technology absorption, research, and development are detailed. **Subsidiaries, Associates & Joint Ventures** MTL New Initiatives Private Limited (MNIPL) was formed on January 1, 2020, as a wholly-owned subsidiary and later amalgamated with Manjushree Technopack Limited vide order of the Regional Director, Hyderabad dated November 15, 2023. Al Lenarco Midco Limited holds 97.24% of Share Capital of Manjushree Technopack Limited **Corporate Social Responsibility (CSR)** The CSR committee includes Ashok Sudan and Pankaj Patwari. The annual report includes the details on CSR spending, projects, and amounts unspent. **Auditor Information** Deloitte Haskins & Sells LLP are the statutory auditors. M/s Mahajan & Aibra is the internal auditor. GS & Associates is the cost auditor, and Vijayakrishna KT is the secretarial auditor. **Risk management** The company Risk management committee includes independent Director Mr. Ashok Sudan, Director Mr. Pankaj Patwari, Managing Director and CEO Mr. Thimmaiah NP. **Other Key Information** The report includes annexures providing detailed financial statements, declarations, and compliance reports. Emphasis is placed on fair labor practices, sexual harassment prevention, and commitment to ethical and legal standards. A whistle blower policy is in place. There were no qualifications or observations by the Auditors in their audit reports.

Manjushree Technopack India Limited Unlisted Shares

Okay! Here's a comprehensive summary of the provided document, adhering to the defined objectives and constraints: **Overview** The document is the Annual Report for FY 2022-23 of Manjushree Technopack Limited. It presents a review of the economic landscape, the company’s performance, and its future outlook, alongside detailed financial statements and related disclosures. The company’s areas of focus for the year are Profitable Growth, Process Excellence, being the Best Place to work for, and Innovation. **Chairman's Report & Economic Context** The Chairman, Ashok Sudan, noted that the company performed well despite a volatile environment, exceeding ₹2010 crores in revenue, a 44% growth rate. The report highlights the global and Indian economic scenarios of 2022-2023, characterized by recovery from the pandemic, supply chain disruptions, inflationary pressures, and changing consumer behavior. The Indian economy rebounded due to manufacturing, agriculture, and services sectors. Government reforms and infrastructure development were conducive to business. The company experienced raw material price fluctuations and supply chain issues, but remained resilient through strategic planning and innovation. Manjushree Technopack also acquired two manufacturing units from Hitesh Plastics Private Limited in Jalgaon, Maharashtra, expanding its product portfolio to include Caps and Closures. **Financial Performance** * **Consolidated:** Gross turnover was ₹2,09,734.58 Lakhs (previous year: ₹1,46,752.57 Lakhs). Gross profit was ₹40,635.00 Lakhs (previous year: ₹31,241.59 Lakhs), and operating profit was ₹29,395.87 Lakhs (previous year: ₹23,620.95 Lakhs). Profit Before Tax (excluding OCI) was ₹9,435.26 Lakhs (previous year: ₹10,702.86 Lakhs). Basic EPS was ₹44.19 (previous year: ₹52.58). * **Standalone:** Gross turnover was ₹2,01,904.74 Lakhs (previous year: ₹1,40,624.94 Lakhs). Gross profit was ₹40,202.23 Lakhs (previous year: ₹30,499.62 Lakhs), and operating profit was ₹29,438.41 Lakhs (previous year: ₹23,362.46 Lakhs). Profit Before Tax (excluding OCI) was ₹11,368.70 Lakhs (previous year: ₹11,625.32 Lakhs). Basic EPS was ₹58.52 (previous year: ₹59.04). * MTL New Initiatives Private Limited, a wholly-owned subsidiary, reported a turnover of ₹9,811.20 Lakhs and an operating loss of ₹55.48 Lakhs. * The company issued 5,87,21,747 Compulsorily Convertible Debentures (CCDs) to Al Lenarco Midco Limited for ₹587,21,74,700. * An interim dividend of ₹11.50 per share was declared and distributed. **Directors and Key Personnel** * Pankaj Patwari and Manu Anand are directors retiring by rotation and eligible for re-appointment. * Ashok Sudan and Jayesh Tulsidas Merchant are recommended for re-appointment as Independent Directors for a second term of two years. * Deepak Gupta resigned as Chief Financial Officer, and Rajesh Kumar Ram joined as the new CFO effective July 3, 2023. **Corporate Social Responsibility (CSR)** The CSR committee includes Ashok Sudan (Chairman), Pankaj Patwari, and Thimmaiah NP. The company's CSR policy is available on its website. ₹2,20,55,000 was spent for the financial year. **Subsidiaries, Associates & Joint Ventures** MTL New Initiatives Private Limited is a wholly-owned subsidiary. Al Lenarco Midco Limited, based in Cyprus, holds 97.24% share capital of Manjushree Technopack Limited. **Other Key Points** * The company is focused on green energy initiatives, partnering with Clean Max Scorpius Power LLP and Four EF Renewables Private Limited to reduce its carbon footprint. * The Postal Ballot for the merger of MTL New Initiatives Private Limited with Manjushree Technopack Limited started on 28-06-2023 and will be closed on 27-07-2023. * The company has transferred the total profit amount to the Reserve & Surplus Account * Details of loans, guarantees, and investments are provided. * The company has complied with Secretarial Standards and Cost Records maintenance. * Details of energy conservation, technology absorption, and foreign exchange earnings and outgo are disclosed. * The report includes declarations from Independent Directors and a Directors' Responsibility Statement. **Outlook and Way Forward** The company remains cautiously optimistic, focusing on strategic expansion, diversification, and improved operational efficiency while using more and more green energy/renewable energy. It aims to continue engaging in socially responsible initiatives.

Manjushree Technopack India Limited Unlisted Shares

Annual Report - 2021-22 for Manjushree Technopack Limited (MTL) highlights the company's performance and initiatives during the fiscal year. **Chairman's Overview:** The Chairman, Ashok Sudan, expresses gratitude to stakeholders for their support amidst challenging circumstances. The year began with the second wave of COVID-19, prompting dynamic planning and implementation. The company demonstrated resilience and delivered a strong performance. The chairman acknowledges the tragic consequences of the Russia-Ukraine conflict and its impact on energy shortages, rising prices, and supply chains. Key accomplishments include acquiring the B2B businesses of Pearl Polymers Limited (PPL) and Classy Kontainers (CK), which expanded the company's manufacturing footprint and diversified its business mix. PPL's four manufacturing units are integrated and functioning smoothly. CK's business acquisition enabled entry into the paint and specialty chemicals segment. The company has also taken initiatives to procure renewable energy by replacing hydro/thermal energy sources. MTL received the 'Golden Peacock Occupational Health & Safety Award' for 2021. MTL New Initiatives Private Limited, a wholly owned subsidiary, successfully operated three units in Silvassa, Bidadi (Karnataka), and Nandyal (Andhra Pradesh). The subsidiary achieved revenue of Rs. 707.76 million in FY22 compared to Rs. 167.04 million in FY21 and positive EBITDA of Rs. 28.32 million. Manjushree's standalone performance shows a top-line of Rs. 14,062.49 million in FY22 compared to Rs. 10,337.94 million in FY21 and a positive EBITDA of Rs. 2,396.38 million. After the resignation of Mr. Sanjay Kapote, Mr. Thimmaiah NP was appointed as Managing Director and CEO. **Board's Report:** The Board of Directors presents the 35th Annual Report, noting the challenging year due to COVID-19, resulting in restricted movement and supply line disruptions. The company focused on people's health and safety, uninterrupted supplies, meeting FMCG and Pharma sector demand, community care, and cash preservation. The company complied with Government directions during lockdowns, adhering to safety protocols. Plants in Northern and Eastern India were shut down for half a month. **Financial Performance & Operations:** Consolidated financial positions include a turnover of Rs. 146,752.57 Lakhs in FY22 (Rs. 1,04,683.05 Lakhs in FY21). Gross Profit was Rs. 31,241.59 Lakhs (FY21: Rs. 26,675.14 Lakhs). The net surplus amounts to Rs. 7,123.34 Lakhs (FY20: Rs. 9,049.31 Lakhs). The basic EPS is Rs. 52.58 (FY21: Rs. 66.80). Standalone financial results show a gross turnover of Rs. 1,40,624.94 Lakhs (FY21: Rs. 1,03,379.37 Lakhs). The Gross Profit was Rs. 30,499.62 Lakhs (FY21: Rs. 26,837.16 Lakhs) and operating profit was Rs. 23,362.46 Lakhs. Net surplus was Rs. 7,998.99 Lakhs (FY20: Rs. 10004.46 Lakhs). MTL New Initiatives Private Limited recorded a turnover of Rs 7,077.65 Lakhs (FY21: 1,670.38 Lakhs). **Directors & Key Personnel:** Mrs. Shweta Jalan will retire by rotation and offers herself for reappointment. Mr. Sanjay Kapote stepped down as Managing Director and CEO and Mr. Thimmaiah NP was appointed in his stead. Mr. Biren Shah resigned as Chief Financial Officer effective 31st July 2022. **Share Capital and Debentures:** The authorized capital increased from Rs. 15.00 Crores to Rs. 25.00 Crores. The company issued 5,52,00,133 Compulsorily Convertible Debentures (CCDs) to Al Lenarco Midco Limited for Rs. 552,00,13,300. Interim dividend of Rs. 16.75 per share was declared. **Board Meetings & Committees:** Thirteen Board meetings were held. The report details the composition of the Audit Committee, Nomination and Remuneration Committee, and Stakeholders' Relationship Committee. M/s Deloitte Haskins & Sells are the statutory auditors for five years from 2021-2025. Mr. Vijayakrishna K T was appointed as Secretarial Auditor. **Other Disclosures:** There were no qualifications in the audit reports. Details on energy conservation, technology absorption, and foreign exchange earnings and outgo are provided. Research and Development activities are ongoing. **Directors' Responsibility Statement:** The Directors confirm that the applicable accounting standards have been followed, proper accounting records maintained, the Annual Accounts prepared on a going concern basis, and proper systems are in place to ensure compliance. **Other Important Information:** The report discusses internal financial controls, related party transactions (AOC-2 is enclosed), details of loans, guarantees, or investments. It details transfer to Investor Education and Protection Fund (IEPF) and reports on risk management with the formation of a Risk Management Committee. The company affirms a safe workplace policy, along with a policy on Prevention of Sexual Harassment at Workplace, and states that no complaints were reported. There were no orders passed by any court or regulator impacting going concern status. There was no fraud reported by auditors. Vigil Mechanism and Whistle Blower Policy are in compliance. The Directors express gratitude for the cooperation, guidance, and support from Bankers, Registrars, Industries Dept. of Govt., Local Authorities, Suppliers, Contractors, Customers, and Vendors. **Annual Return:** As required by Section 92(3) of the Companies Act, 2013 and Rule 12(1) of the Companies (Management and Administration) Rules, 2014 read with Companies Amendment Act, 2020 an Annual Return in MGT-7 is placed on the website of the Company i.e., www.manjushreeindia.com.

Manjushree Technopack India Limited Unlisted Shares

Okay, here's a comprehensive summary of the Manjushree Technopack Limited Annual Report for FY 2020-2021, based on the provided PDF content: **Overview and Financial Performance** The report begins with the Chairman's address, highlighting the economic challenges posed by the COVID-19 pandemic but expressing confidence in the company's resilience. Manjushree Technopack Limited (MTL) experienced a resilient financial performance despite challenges including COVID-19-related shutdowns, with the North and East plants being shut down for 15 days. The gross turnover for FY21 was ₹1,04,683.05 Lakhs (2020: ₹1,08,113.11 Lakhs). Net Surplus amounted to ₹9049.31 Lakhs (2020: ₹6649.55 Lakhs), resulting in a basic EPS of ₹66.80 (2020: ₹49.08). The company also acquired National Plastics (NAPLA) which was successfully integrated, and established MTL New Initiatives Private Limited as a wholly-owned subsidiary. **Subsidiaries and Acquisitions** MTL New Initiatives Private Limited was formed on January 1, 2020. The subsidiary established three units at Silvassa, Bidadi Recycling (Karnataka), and Nandyal (Andhra Pradesh). Top-line of the subsidiary was ₹167.03 million in FY21 (FY20: ₹7.50 million). The company also acquired the B2B business of Pearl Polymers Limited (PPL) in April 2021, acquiring four manufacturing units of PPL located at Jigani (Karnataka), Baddi (Himachal Pradesh), Pantnagar (Uttarakhand), and Guwahati (Assam). **Directors, Management, and Governance** The Board of Directors included Ashok Sudan (Chairman & Independent Director), Sanjay Kapote (Managing Director & CEO), Shweta Jalan, Pankaj Patwari, Manu Anand, and Jayesh Merchant (Independent Director). Biren Shah served as CFO and Rasmi Ranjan Naik as Company Secretary. Pankaj Patwari and Manu Anand will retire by rotation and are eligible for re-appointment. Vimal Kedia, Surendra Kedia, and Vinod Padikkal resigned from the Board during the year. The report includes declarations from Independent Directors and a Directors’ Responsibility Statement. The company complied with applicable Secretarial Standards. **Corporate Social Responsibility (CSR)** MTL's efforts in Environment and Sustainability was recognized with the Golden Peacock Award 2020 for best environment management in the Packaging Industry. The CSR Committee included Ashok Sudan, Pankaj Patwari, and Sanjay Kapote. The report details amounts spent on CSR activities and those available for set off in coming years. For 2020-21 there has been no amount available for set off from proceeding financial years and total amount of CSR activity is (81,961) in Rupees. **Financial Details** The report provides detailed standalone and consolidated financial statements, including the Balance Sheet, Statement of Profit and Loss, Cash Flow Statement, and Statement of Changes in Equity. These statements include detailed notes on various items such as Property, Plant & Equipment, Intangible Assets, Investments, Inventories, Trade Receivables, Cash and Cash Equivalents, Share Capital, Reserves, Borrowings, Provisions, and Contingent Liabilities. The gross turnover for FY 2021 was at Rs. 1,04,683.05 Lakhs (2020 – Rs. 1,08,113.11 Lakhs). The Gross Profit during FY 2021 was Rs. 26,675.14 Lakhs (2020 – Rs. 25,824.83 Lakhs), while the Operating Profit stood at Rs. 20,317.28 Lakhs (2020 Rs. 18,856.36 Lakhs). **Operational Details** The Company's plants in Northern and Eastern India were shut down for half a month. The company complied with government directives for lockdown in all manufacturing units. Work from home concept was adopted. **Auditors** Deloitte Haskins & Sells served as Statutory Auditors, while G S & Associates were appointed as Cost Auditors for the product shrink film. Vijayakrishna K T was appointed as Secretarial Auditor. The audit reports are included as annexures. **R&D and Technology Absorption** The company is continuously putting effort to develop new products. R&D expenditure for financial year 2020-21 was: Rs. 163.11 Lakhs Total R&D expenditure as a percentage of total turnover for financial year is 0.15% **Other Key Points:** * The company complied with maintenance of cost records. * The Company confirmed that no orders were passed by any court or regulator impacting its going concern status. * No complaints pertaining to sexual harassment were reported during the year. * The company has transferred total profit amount to Reserve & Surplus Account This summary captures the key aspects of the Manjushree Technopack Limited Annual Report for FY 2020-2021.