Spray Engineering Devices Unlisted Shares

Financial Report Summary

SPRAY ENGINEERING DEVICES LIMITED - Standalone Financial Statements Summary:

This document presents the standalone financial statements for SPRAY ENGINEERING DEVICES LIMITED for the period from April 1, 2021, to March 31, 2022, with comparative figures for the period from April 1, 2020, to March 31, 2021. All monetary values are expressed in Lakhs of INR unless otherwise stated.

**1. Company Information:**

*   **Name:** SPRAY ENGINEERING DEVICES LIMITED
*   **CIN:** U00000CH2004PLC027625
*   **Address:** Plot No. 25, Industrial Area, Phase II, Chandigarh
*   **Type of Industry:** Commercial and Industrial
*   **Registration Date:** November 8, 2004
*   **Category:** Company limited by shares/Non-Govt company

**2. Products and Services:**

*   Principal product or service: Machinery for Sugar and Low Temperature Evaporator/MVR.
*   Types of principal products or services: Machinery for Sugar Manufacturing and LTE/MVR.
*   Turnover of product or service category: INR 9,974.07 Lakhs.

**3. Directors' Report & Financial Highlights:**

*   During the financial year 2021-22, the company did not transfer any amount to the General Reserves, and no dividend was declared.
*   Total Revenue increased from INR 111.31 Crores to INR 215.62 Crores.
*   The key financial figures (in Lakhs) for Standalone results in 2021-22 compared to 2020-21 are:

    *   Revenues from Operations (Net): 21445 vs 11056
    *   Other Income: 117 vs 75
    *   Total Revenue: 21562 vs 11131
    *   EBITDA: 2262 vs 1305
    *   Profit After Tax: 1505 vs 466
*   Two subsidiary companies as of March 31, 2022, are:
    *   M/s SED Engineers & Fabricators Private Limited
    *   M/s Sustainable Environment Developers Limited
*   One associate company as of March 31, 2022, is:
    *   M/s IPRO Sugar Engineering Private Limited
*   Mr. Ramit Gupta resigned as an Independent Director on 30.09.2021, and Mr. Tara Chand Meenia was appointed as an Independent Director w.e.f. 20.10.2021.
*   The company conducted 8 board meetings during the financial year 2021-22.
*   The Company has granted interest free unsecured loan to its wholly owned Subsidiary for General Corporate Purpose during last years of Rs 691.39 lakhs.
*   The company has made various investments.

**4. Auditors' Report:**

*   M/s Ashwani K. Gupta & Associates were appointed as the Statutory Auditors.
*   The auditors' report is unqualified, and no frauds were reported.
*   The company has complied with applicable secretarial standards.
*   No application or proceeding is pending under the Insolvency and Bankruptcy Code, 2016.

**5. Share Capital:**

*   Authorized Share Capital is INR 24,05,00,000.
*   Paid-up share capital is INR 22,58,67,810.
*   The company has not bought back any of its securities, issued any Sweat Equity Shares or Bonus Shares during the year under review.
*   Shareholding details are provided for major shareholders including Vivek Verma, Prateek Verma and Klondike Investments Ltd.

**6. Conservation of Energy, Technology Absorption, and Foreign Exchange:**

*   The company's technology saves energy in the form of Steam, Water, Electricity & Solar, Ethanol, Jaggery.
*   Spray Engineering Devices Limited (SED) has developed Low Temperatures Evaporator for more than 99% high quality.
*   Expenditure in Foreign Currency: 29.82 Lakhs, Earnings in Foreign Exchange: 272.98 Lakhs.

**7. Corporate Social Responsibility:**

*   The provisions of Section 135 of the Companies Act, 2013 were not applicable on the Company for the financial year (2021-22).

**8. Financial Ratios and Other Financial Data:**

*   Details related to loans, guarantees and investments under Section 186 of the Companies Act, 2013 are provided.
*   Particulars of contracts or arrangements made with related parties under Section 188 of the Companies Act, 2013 are detailed.
*   Disclosure relating to loans guarantee investment under section 186
*   Statement concerning development and implementation of risk management policy of the company

**9. Additional Information:**

*   Details of directors, their DIN, designation, and date of appointment.
*   Composition of the Nomination and Remuneration Committee and Audit Committee.
*   The report includes Form AOC-1 related to subsidiary and associate companies.
*   Details regarding adequacy of internal financial controls are provided.
*   Information on deposits covered under Chapter V of the Companies Act.
*   Details of directors' responsibility statement

In summary, the document presents a comprehensive overview of the financial performance and operational activities of Spray Engineering Devices Limited for the fiscal year 2021-22, highlighting key financial data, changes in company leadership, compliance with regulatory requirements, and disclosures related to related-party transactions and shareholding patterns.