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San Engineering and Locomotive Company Limited Unlisted Share Price

Annual Report: 2022

Year: 2022

Annual Report Summary

San's 52nd Annual Report for 2021-2022 covers the company's financial performance, governance, and upcoming Annual General Meeting (AGM). The AGM will be held on August 30, 2022, to discuss and adopt the financial statements, declare dividends, and reappoint directors and auditors.

Key Financial Highlights:

  • Net Sales and Other Income: Rs 137.33 Crore (previous year: Rs 125.14 Crore)
  • Profit Before Tax: Rs 11.11 Crore (previous year: Rs 6.44 Crore)
  • Dividend: Recommended Rs 3/- per equity share.
  • Order Backlog: Over Rs. 400 Crores
  • The company proposes to transfer Rs 10 Crores to the General Reserve.

Operational Performance:

  • Supply of 17 shunting locomotives, 4 power packs for High Speed Accident Relief Trains to ICF, and 3 Camp Coaches to LORAM.
  • The company faced production interruptions due to Covid-19 related lockdowns and supply chain disruptions.
  • Testing of prototype of Diesel Electric Tower Cars (DETC) by RDSO has been completed and the same has been taken up for production.

Corporate Governance:

  • Board comprises one promoter director, one managing director, and four independent directors.
  • The Board met four times during the financial year.
  • The Corporate Social Responsibility (CSR) policy focuses on education, eradication of hunger, skill development, environmental protection, and health care. The company aims to spend a minimum of 2% of average net profits on CSR.
  • The company has a Nomination and Remuneration Committee and a policy on Protection of Women's Rights at Workplace.

Subsidiaries:

  • The company has two subsidiary companies: M/s San Motors Ltd and M/s San Rolling Stock Services Ltd.

Other Key Points:

  • The company has appointed M/S Canbank Computer Services Ltd as the Registrar and Share Transfer Agents.
  • The company encourages members to register/update their email addresses for electronic communication of the AGM notice and annual report.
  • M/s N R Rajagopalan & Co, Chartered Accountants, have been re-appointed as statutory auditors.
  • M/s S Arun Kumar & Co, Cost Accountants, have been appointed as the Cost Auditors for the year 2022-23.
  • The company complies with Secretarial Standards on Meetings of Board of Directors (SS-1) and General Meetings (SS-2).
  • The company is making continuous efforts to conserve and optimize energy.
  • The Company has a Research & Development Centre which is recognized as an in-house R & D facility by the Ministry of Science and Technology, New Delhi.
  • The Auditors' report includes an emphasis of matter regarding the impact of the Coronavirus (Covid-19) on the company's business operations, stating that management believes no adjustments are required for the current financial year, but definitive assessment of impact on subsequent periods depends on evolving circumstances.

Resolutions at the AGM:

  • Adoption of financial statements for the year ended March 31, 2022.
  • Declaration of a dividend of Rs 3/- per share.
  • Re-appointment of Mr. Milind S Thakker as a director.
  • Re-appointment of M/s N R Rajagopalan & Co as statutory auditors.
  • Ratification of the remuneration of the Cost Auditors M/s S Arun Kumar & Co.

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