Join our Whatsapp Community for Daily Price Sheets and News

Mohindra Fasteners Limited Unlisted Shares

Annual Report: 2022

Year: 2022

Annual Report Summary

MFL, Mohindra Fasteners Limited, will hold its 28th Annual General Meeting on Wednesday, September 28th, 2022, at 11:30 AM through Video Conferencing (VC) or Other Audio-Visual Means (OAVM).

Board of Directors:

  • The Board includes Mr. Deepak Arneja (Chairman Cum Managing Director & CEO), Mr. Ravinder Mohan Juneja (Managing Director), Mr. Ranbir Singh Narang (Non - Executive Director, appointed w.e.f. 13/08/2022), Mr. Vinod Kumar (Non - Executive & Independent Director), Mr. Ved Prakash Chaudhry (Non - Executive & Independent Director), Mrs. Shamoli Thakur (Non - Executive & Independent Director), Mr. Sunil Mishra (Chief Financial Officer), and Ms. Nidhi Pathak (Company Secretary & Compliance Officer). Mr. Gagandeep Singh Narang resigned w.e.f. 01/08/2022.

Corporate Information:

  • Directors: Mr. Sudhir Arneja and Mr. Anurag Arneja (Operations).
  • General Managers: Mr. Dheeraj Juneja (SCM) and Mr. Prateek Arneja (Sales & Marketing).
  • Auditors: M/s B. L. Khandelwal & Co (Statutory Auditor), M/s Anand Nimesh & Associates (Secretarial Auditor), and M/s Sanjay Kumar Garg & Associates (Cost Auditor).
  • Registrar & Share Transfer Agent: Skyline Financial Services Private Limited.
  • Banker: The Karnataka Bank Limited.
  • Work Places include Registered and Corporate offices, as well as four Manufacturing Units located on Delhi-Rohtak Road, Haryana.

Chairman’s Message:

  • The Financial Year 2021-2022 began with the Coronavirus pandemic, peaking in the first quarter. MFL ensured timely support to employees and communities. The company achieved the highest turnover and profitability levels since its inception.
  • The company weathered the pandemic by embracing a new operating model, focusing on exports.
  • MFL's net profit was Rs. 1244.70 lakhs for the year 2022, compared to Rs. 1038.06 lakhs in 2021 (a growth of about 20%). Total revenue was Rs. 136,80.67 lakhs in 2022, against Rs. 108,38.54 lakhs in 2021 (over 25% growth).
  • Export sales were Rs. 10219.61 lakhs in 2022, compared to Rs. 7385.48 lakhs in 2021 (over 38% growth).
  • EBITDA for the year ended March 31, 2022, was Rs. 1920.84 lakhs, against Rs. 1764.18 lakhs in 2021 (over 8% growth).
  • Earnings per share (EPS) was Rs. 23.00 in 2022, compared to Rs. 19.38 in the previous year.
  • The company's green field project at IMT Rohtak, Haryana is progressing with trial runs planned for September 2022. Business operations in the new Plant III will start tentatively by October of this year.
  • An interim dividend of ₹4 (40%) for the financial year 2021-22 was declared.
  • ICRA Limited has issued ‘[ICRA] BBB(Stable)’ rating for the company's Long Term Bank facilities, and ‘[ICRA] A3+’ for Short Term Bank facilities.

Notice of Annual General Meeting - Ordinary Business:

  • Receive, consider and adopt the Standalone and Consolidated Audited Financial Statements for the year ended 31st March, 2022.
  • Confirm the payment of an Interim Dividend aggregating to Rs. 4.00 per equity share for the financial year ended March 31, 2022.
  • Appoint a Director in place of Mr. Ravinder Mohan Juneja, who retires by rotation and being eligible, offers himself for re-appointment.
  • Approve the re-appointment of M/s B. L. Khandelwal & Co., New Delhi as Statutory Auditors of the Company.

Special Business:

  • Ratify the remuneration payable to the Cost Auditor for the financial year ending 31st March, 2023.
  • Appoint Mr. Ranbir Singh Narang (DIN: 00250927) as a Non-Executive & Non-Independent Director of the Company.
  • Approve the remuneration payable to Mr. Sudhir Arneja (Director-Operations) holding an office or place of profit in the Company.
  • Approve the remuneration payable to Mr. Dheeraj Juneja (General Manager - SCM) holding an office or place of profit in the Company. The maximum remuneration for both Mr. Arneja and Mr. Juneja is 40 Lakhs/- per annum.

Other Key Information:

  • The register of members and share transfer books will be closed from Thursday, September 22, 2022, to Wednesday, September 28, 2022, inclusive.
  • Dividends not claimed for seven consecutive years are liable to be transferred to the Investor Education and Protection Fund (IEPF).
  • The remote e-voting period begins on Friday 23rd September, 2022 at 09:00 A.M. and ends on Tuesday 27th September, 2022 at 05:00 P.M.

Management Discussion and Analysis:

  • Domestic sales decreased by 7% to Rs. 2999.25 lakhs.
  • The green field project at IMT Rohtak, Haryana, is progressing well and the business operations & activities in the new Plant III would tentatively start by October of this year.
  • A joint venture, KK Mohindra Fastenings Pvt. Ltd., was formed in November 2021 with Keller & Kalmbach Holding GmbH & Co. KG.
  • The Company transferred 2000 shares during the financial year 2021-22 to the IEPF Authority.
  • MFL's operations conform to EN ISO 9001:2015 and IATF 16949:2016 Certifications.
  • The metallurgical Laboratory is certified as per ISO 17025:2017 norms.
  • Mr. Gagandeep Singh Narang resigned as Non-Executive Director with effect from 01/08/2022.
  • The Company has appointed Mr. Anand Kumar Singh as Scrutiniser.
  • ICRA Limited had issued ‘[ICRA] BBB(stable)’ rating for the Rs. 19.00 Crores long term debt facilities, and ‘[ICRA] A3+’ for the Rs. 20.00 Crores short-term debt.
  • The Company is listed at Metropolitan Stock Exchange of India Limited (MSEI).
  • The top three customers accounted for 40% of revenue.
  • The number of permanent employees on the pay rolls were 328 as on 31st March, 2022.

Directors’ Report - Joint Venture: *KK Mohindra Fastenings Pvt. Ltd. has not yet commenced operations.

Our Blogs

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.

FAQ's

What are unlisted shares?

+

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.

How can I buy unlisted shares?

+

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.

What is the share price of unlisted companies?

+

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.

Are unlisted shares a good investment?

+

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.

How can I sell unlisted shares?

+

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.

What are the risks of investing in unlisted shares?

+

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.

What is the share price of unlisted companies?

+

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.

How do I know the current value of unlisted shares?

+

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.

Is there a minimum investment amount for unlisted shares?

+

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.

Can I get a dividend from unlisted shares?

+

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.

How do I know which unlisted shares are worth investing in?

+

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.

Are unlisted shares taxed?

+

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.

WhatsAppContact Us