Annual Report: 2022
Growth.
Annual Report 2021-2022 of Schneider Electric President Systems Limited discusses several key aspects of the company's performance and governance.
Board of Directors & Governance: The report lists the Board of Directors as of March 31, 2022, including Ranjan Pant (Chairman), Ramakrishna Rajasekharan Nair, Rachna Mukherjee, Srinivasa Narasimhan, Sachin Bhalla, Swaminathan Venkatraman, Mohamed Adil, Shivaprasad Srinivas, Sugata Sircar, and Arnab Roy, along with Sapna Bhatia as Company Secretary. Several changes in the Board composition occurred during the year, including appointments of Sachin Bhalla and Arnab Roy as Additional Non-Executive Directors and Shivaprasad Srinivas as Additional and Whole-Time Director and resignation of Swaminathan Venkatraman and Sugata Sircar as Non-Executive Director and Mohamed Adil from the position of Whole-Time Director. The report details the various committees of the Board, including the Audit Committee, Nomination and Remuneration Committee, Corporate Social Responsibility Committee, Stakeholders Relationship Committee, and Finance Committee.
Annual General Meeting (AGM): The report includes the notice for the 38th Annual General Meeting, scheduled for September 13, 2022, via video conferencing. The agenda includes ordinary business such as adopting the audited financial statements for the year ended March 31, 2022, and re-appointing Mr. Srinivasa Narasimhan as a Non-Executive Director. Special business includes the appointment of Mr. Shivaprasad Srinivas as a Whole-Time Director and approval of the Worldwide Employee Share Ownership Plan (WESOP). Instructions for accessing and participating in the AGM through video conferencing and e-voting are provided.
Financial Performance: The Board's Report presents the financial results for the year ended March 31, 2022, with comparisons to the previous year. Key figures include:
The Board decided not to recommend a dividend for the financial year ended March 31, 2022.
Director's Responsibility Statement:
The board confirms that applicable accounting standards have been followed in preparing the annual accounts, and that they have taken proper care for the maintenance of adequate accounting records.
Other Key Points: The company participates in the Worldwide Employee Share Ownership Plan (WESOP) of Schneider Electric SE France, its ultimate holding company. The company manages risk in line with current risk management best practices.
Auditor's Report: The Independent Auditor's Report by S.N. Dhawan & Co LLP provides an unqualified opinion on the financial statements, emphasizing a matter regarding pending litigation with SEBI.
Corporate Social Responsibility (CSR): The company has a CSR policy and spent INR 30,06,985 against ongoing projects and there were no other expenses during 2021-2022
Equity Shares: As on March 31, 2022, Schneider Electric South East Asia (HQ) Pte Ltd. hold 80.49% of the total equity share capital of the company.
Factories: The locations of the company’s factories are listed as Attibele Factory Unit-1, Attibele Factory Unit-2 and Attibele Factory Unit-3.
This summary captures the essential information from the provided Annual Report, encompassing corporate governance, financial performance, and operational highlights.
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