Annual Report: 2022
RING PLUS AQUA LIMITED - 35th ANNUAL REPORT Summary:
Company Overview and Financial Highlights:
Ring Plus Aqua Limited (RPAL), a Raymond Group Company, manufactures and exports ring gears, flexplates, and water pump bearings for the auto and non-auto sectors. RPAL's 35th Annual Report for the financial year 2021-22 highlights its strong financial performance, including a gross revenue of Rs. 323.89 crores (compared to Rs. 203.69 crores in the previous year) and a profit before tax of Rs. 51.58 crores (compared to Rs. 28.58 crores previously). The company did not transfer any amount to reserves.
Annual General Meeting (AGM) Details:
The 35th AGM was scheduled for July 8, 2022, to transact ordinary and special business. Ordinary business included adopting the audited financial statements and the reports of the Board of Directors and Auditors, appointing a Director in place of Shri Balasubramanian Vishwanathan (who retires by rotation and is eligible for reappointment), and confirming an interim dividend of Rs. 93/- per equity share as final dividend. A special resolution was put forth to approve payment of Commission to Non-Executive Directors based on Net Profits of the Company for FY 2021-22 and the next 3 years. Shri Satish Chand Mathur, who was appointed as an Additional - Independent Director w.e.f 15.09.2021, was to be appointed as an Independent Director.
Board of Directors and Key Personnel:
The Board of Directors included Shri Ravikant Uppal (Chairman), Shri Bhuwan Kumar Chaturvedi (Non-Executive Director), Shri Ganesh Kumar Subramanian (Non-Executive Director, resigned 31.01.2022), Shri V. Balasubramanian, Shri Parthiv Kilachand (Independent Director), Shri Shiv Surinder Kumar (Independent Director), and Shri Satish Chand Mathur (Additional - Independent Director). Shri Sitesh Maheshwari served as the Chief Financial Officer, and Miss Reshma Ramchandani was the Company Secretary. The Statutory Auditors were M/S. PRICE WATERHOUSE CHARTERED ACCOUNTANTS LLP.
Material Changes and Commitments:
There were no material changes affecting the financial position except for the change in the holding company from Scissors Engineering Products Limited to JK Files & Engineering Limited.
Operations and Future Outlook:
The company experienced a robust growth of 59% in total revenues despite the COVID-19 pandemic, driven by increasing its business share with existing customers and developing new businesses. The company ramped up resources and initiated capacity expansion projects for ring gears and water pump bearings, expected to be available from the first quarter of FY 2022-23.
Statutory Auditors:
M/s. Price Waterhouse Chartered Accountants LLP were re-appointed as Statutory Auditors for a second term of five years. There were no audit qualifications in the standalone financial statement.
Internal Control Systems:
The company maintained an adequate and effective internal control and risk-mitigation system.
Share Capital:
The Authorized Share Capital of the Company is Rs. 30,00,00,000 and the paid up Equity Share capital of the Company is Rs. 7,75,66,710.
Directors and Key Managerial Personnel:
Shri Balasubramanian Vishwanathan retired by rotation and offered himself for reappointment. Shri Satish Chand Mathur was appointed as an Additional Director.
Board Meetings and Evaluation:
Nine Board Meetings were held during the year. The Board carried out an evaluation of its own performance, its Committees, and individual Directors.
Secretarial Standards and Reporting of Frauds:
The company complied with applicable Secretarial Standards. There were no instances of fraud requiring reporting by the Statutory Auditors.
Committees of the Board:
The Board included an Audit Committee (Shri Parthiv Kilachand-Chairman, Shri Shiv Surinder Kumar and Shri B.K. Chaturvedi-Members), a Nomination and Remuneration Committee (Shri Shiv Surinder Kumar-Chairman, Shri Parthiv Kilachand and Shri Satish Chand Mathur-Members), and a Corporate Social Responsibility Committee (Shri Parthiv Kilachand-Chairman, Shri V. Balasubramanian and Shri Satish Chand Mathur-Members).
Maintenance of Cost Records and Vigil Mechanism:
The provision for maintenance of cost records was not applicable. The company formulated a Vigil Mechanism/Whistle Blower policy.
Related Party Transactions:
Related Party Transactions were approved by the Audit Committee.
Conservation of Energy, Technology Absorption, and Foreign Exchange:
The company undertook various initiatives for energy conservation, leading to savings. Foreign exchange earnings were Rs. 155.61 crore, while outgo was Rs. 0.68 crore.
Employee Stock Option Plan (ESOP):
The company has an Employee Stock Option Scheme 2019 to incentivise employees with outstanding Options as on March 31, 2022 numbering 108,232.
Corporate Social Responsibility (CSR):
The company constituted a CSR Committee and spent Rs. 68 Lacs in pursuance of its CSR. The initiatives of the Company mainly focused on: COVID vaccinations, purchasing of ambulances and purchase of computers and providing training to underprivileged children.
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
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.
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.
