Annual Report: 2021
ANNUAL REPORT 2020 - 2021 Summary:
This document is the Annual Report for Resins & Plastics Limited for the financial year 2020-2021. It details the company's financial performance, corporate governance practices, and other disclosures required by the Companies Act, 2013. The report includes summary results, Board of Director information, and notices for the upcoming annual general meeting (AGM). Due to ongoing COVID-19 restrictions, the AGM will be conducted through video conferencing (VC) or other audio-visual means (OAVM). Shareholders are encouraged to attend and vote electronically, either remotely or during the AGM. Several resolutions are proposed, including the adoption of financial statements, declaration of dividends, and the re-appointment of a director. The company manufactures synthetic resins used in various industries and operates three manufacturing plants, with its corporate office in Mumbai.
Financial Performance:
The summary results for the fiscal year 2020-21 reveal an increase in sales (net of taxes) to ₹14,530.99 Lakhs, up from ₹13,854.67 Lakhs in the previous year. Profit after Tax increased from ₹857.30 Lakhs to ₹1,168.31 Lakhs, an overall growth of 36%. The Board recommended a dividend of ₹5.50 per share. Key financial data includes:
Board of Directors and Corporate Governance:
As of March 31, 2021, the Board of Directors consisted of:
The company confirms compliance with Corporate Governance norms. The company has a well-defined risk management mechanism, and its CSR activities focus on education, health, and hygiene. The CSR expenditure for the financial year was ₹20.52 lakhs. The report includes details on the Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee. It confirms the existence of a Vigil Mechanism (Whistle Blower Policy) and a Related Party Transaction Policy. There are no significant and material orders passed by regulators or courts affecting the company.
Annual General Meeting Information:
The 60th AGM is scheduled for Tuesday, September 7th, 2021, at 11:00 a.m. via VC/OAVM. Key agenda items include:
Detailed instructions are provided for members attending the AGM through VC/OAVM, including procedures for remote e-voting and accessing meeting links. The Notice details the process for shareholders to update their email addresses, claim unclaimed dividends, and provide bank account details for electronic dividend payments.
Other Key Points:
Actionable Insights:
Future Outlook:
The company aims to launch improved and new products of superior quality to meet client expectations/demands.
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