Taparia Tools Limited Unlisted Shares Annual Reports

Taparia Tools Limited Unlisted Shares

Taparia Tools Limited Annual Report 2023-2024 The annual general meeting will be held on Monday, 29th July 2024 at 11:30 A.M. through video conferencing, the venue will be the registered office in Nashik. **Ordinary Business:** 1. Adoption of financial statements, board's report and independent auditor's report for the financial year 2023-2024. 2. Confirmation of payment of interim dividend and declaration of final dividend on equity shares, recommending a final dividend of Rs. 20 per share, and the interim dividend was also Rs. 20 per share. 3. Re-appointment of Shri M.P. Taparia as a director, who retires by rotation and being eligible offers himself for re-appointment. **Special Business:** 4. Appointment of statutory auditors of the company, appointing M/s. Batliboi & Purohit for a term of 5 consecutive years. 5. Re-appointment of Shri Sachin Shrinivas Bhattad as an independent director, to hold office for a second term of 3 consecutive years. 6. Appointment of Shri Narayan Tulsiram Atal as an independent director for a period of 3 consecutive years. The register of members and share transfer books of the company will remain closed from Tuesday, 23rd July 2024 to Monday, 29th July, 2024. The board of directors proposed the appointment of M/s. Batliboi & Purohit as the statutory auditors of the company. Batliboi & Purohit have confirmed they are not disqualified to be appointed as auditor. SEBI has mandated certain service requests including transmission or transposition of securities held in physical form shall be processed by issuing securities in dematerialized form only. The remote e-voting period commences on Friday, 26th July 2024 (9.00 a.m. IST) and ends on Sunday, 28th July 2024 (5.00 p.m. IST). M/s. Harshil Shah & Company are the statutory auditors of the company since Financial Year 2019-2020. The board recommends the passing of the ordinary resolution at Item No.4 for the approval of members regarding the appointment of M/s. Batliboi & Purohit as the statutory auditors of the Company. The Board recommends passing of the resolution as set out in Item No. 5 as a Special Resolution regarding the reappointment of Sachin S. Bhattad as an Independent Director. The Board recommends passing of the resolution as set out in Item No. 6 as a Special Resolution regarding the appointment of Narayan Tulsiram Atal as an Independent Director. **Financial Performance for 2023-2024:** The company's total revenue was Rs. 83,766.86 Lakh, representing an increase of 8.95% over the previous year. The total comprehensive income after tax is Rs. 10,034.33 Lakh, an increase of 39.20% compared to Rs. 7,208.70 Lakh in the previous year. The company invested surplus funds generated from its operating activities in various Mutual Funds: Liquid and Arbitrage funds, with a balance of Rs.14,420.86 Lakh. Corporate Governance: The company has complied with Corporate Governance requirements as set out under Chapter IV of the SEBI Listing Regulations, 2015. Dematerialization of Shares: The Promoters and Promoter group have dematerialized 97.08% of their shareholding. Public Deposits: The company has not accepted any deposits within the meaning of Sections 73 and 74 of the Companies Act, 2013. Change in Directors and Key Managerial Personnel: Various changes in directors, including the appointment of D.P. Taparia as Managing Director, and Bharat Taparia and Rahul Maheswari as Non-Executive Directors. It is also proposed to re-appoint Shri Sachin S. Bhattad as an Independent Director. During the year, the Independent Directors had no pecuniary relationships or transactions with the company except the sitting fees received by them for attending Board and Committee Meetings During the financial year 2023-2024, the company made an allotment of Bonus Equity Shares in the ratio of 4:1. Risk Management: The company has framed a risk management policy. Corporate Social Responsibility (CSR): The company contributed Rs.170.52 Lakh during F.Y.2023-2024 towards the corpus of various trusts, and the CSR policy is placed on the Company's website. There were no complaints referred to the Sexual Harassment Committee. The Company posted better results in the financial year 2023-2024 and is concentrating to achieve a higher position in the Hand Tools Market and multiply its turnover through effective and qualified manpower. Meetings: Six Meetings of the Board of Directors were held during the year 2023-2024. Auditors' Report: There has been no qualification, reservation, adverse remark or disclaimer given by the Statutory Auditors in their Report for the year under review. The total number of permanent employees on the role of the Company as on 31st March, 2024: 280 Nos. The company also encourages the use of core values and all employees are trained and encouraged to use these values in their daily operations, and Taparia Tools Limited has a favorable work environment that encourages innovation and meritocracy. Dividend Declared in Past Three Years: A summary of dividend declared and paid for the years 2021-22, 2022-23 and 2023-24 is provided. The General Shareholders Information includes Annual General Meeting details, financial calendar for 2024-2025, and date of closure from Tuesday, 23rd July 2024 to Monday, 29th July, 2024. Final Dividend, if approved by Members, will be paid on or before 24th August, 2024. The Equity Share Capital states that a total of 1,51,78,750 (Last year: 30,35,750) Ordinary (Equity) Shares of Rs. 10/- Each fully paid-up, is equivalent to 1,517.88 Lakh. The Notes to the Financial Statements is provided and include a listing of the Board members, Shareholdings and other information as required.

Taparia Tools Limited Unlisted Shares

Taparia Tools Ltd. Annual Report 2022-2023 Summary: **Company Overview:** Taparia Tools Ltd. is an ISO-9001 company primarily engaged in the manufacturing and trading of hand tools. Its manufacturing facilities are located in Nashik and Goa, and its equity shares are listed on the Bombay Stock Exchange (BSE). **Key Financial Highlights (FY 2022-2023):** * Revenue: ₹76,887.55 Lakh (a 14.84% increase from the previous year's ₹66,949.85 Lakh). * Profit Before Interest and Depreciation: ₹9,854.91 Lakh. * Gross Profit: ₹9,836.49 Lakh. * Profit for the Year Before Tax: ₹9,672.42 Lakh. * Profit After Tax: ₹7,232.03 Lakh. * Total Comprehensive Income for the year: ₹7,208.70 Lakh ( a 9.9% increase from the previous year's ₹6,559.11 Lakh) * Distributable Profit: ₹6,487.83 Lakh. * Earning per Share: ₹238.23 **Dividend:** The directors recommend a final dividend of ₹77.50 per equity share (face value of ₹10), subject to member approval. An interim dividend of ₹77.50 per equity share was already paid on March 28, 2023. **Bonus Issue:** The directors recommend a bonus issue in the ratio of 4:1 (four new equity shares for every one existing equity share). **Board of Directors:** * Late Shri H.N. Taparia (Chairman and Managing Director) passed away on March 5, 2023. * Shri D.P. Taparia was appointed as Managing Director effective May 30, 2023. * Shri Virendraa Bangur retires by rotation and offers himself for reappointment. * Mrs. Swati Ravindra Bhairi was appointed as an Independent Director effective May 30, 2023. * Shri Devendra Vyas and Shri Jugalkishore Ramchandra Jaju resigned as Independent Directors. **Corporate Governance:** The company is committed to following best practices in corporate governance. A report on corporate governance is included in the annual report, along with a certificate from the auditor regarding compliance. The company has dematerialized 79% of promoter shareholding. No public deposits were accepted during the financial year. **Corporate Social Responsibility (CSR):** The company has a CSR committee and policy. They contributed ₹129.25 Lakh towards various trusts engaged in activities specified in Schedule VII of the Companies Act 2013. **Risk Management:** The Board of the Company has framed a risk management policy and monitors the risk management plan for the Company, ensuring its effectiveness. **Vigil Mechanism:** The company has a Vigil Mechanism policy in place for directors and employees to report genuine concerns. **Auditor's Report:** The auditor's report indicates that the financial statements present a true and fair view of the company's affairs. **Other Key Points:** * The company has initiated a plant at Valvada, Gujarat, for business expansion. * The equity shares are listed on the Bombay Stock Exchange (BSE). * The auditors have confirmed that there are no significant or material orders passed by the regulators/courts/tribunals which could impact the going concern status of the Company and its future operations. * The 57th Annual General Meeting will be held on July 3, 2023, via video conferencing. * The Annual Report and Notice of the AGM are available on the company website and the BSE website. **E-voting:** The report provides detailed instructions for shareholders to participate in e-voting and virtual meetings. **Materiality:** Information is considered material if its omission or misstatement could influence the economic decisions of users of the financial statements. **Noteworthy Ratios:** The report provides detailed calculations of various key ratios including Current Ratio (10.33%), Return on Equity Ratio (-2.30%), Inventory Turnover Ratio (-20.10%) **Registered Office:** 52 & 52B, MIDC Area, Trimbak Road, Satpur, Nashik – 422 007 (Maharashtra).

Taparia Tools Limited Unlisted Shares

This is a comprehensive summary of the Taparia Tools LTD. Annual Report for 2021-2022. **Company Information:** Taparia Tools LTD. is an ISO-9001 company with its registered office in Nashik, Maharashtra. The company’s main business is manufacturing and trading of hand tools. The company's corporate office is located in Mumbai, Maharashtra, and it has plants in Nashik and Goa. **Notice of Annual General Meeting:** The 56th Annual General Meeting (AGM) of shareholders will be held on Friday, July 29, 2022, at 11:30 A.M. via video conferencing. The notice outlines the agenda, including the adoption of financial statements, confirmation of interim dividends, declaration of final dividend, and re-appointment of directors. Specifically, it addresses the re-appointment of Shri M.P. Taparia and Smt. Premlata Purohit as directors, and Shri Sivaramakrishnan as a Whole-time Director. **Board's Report:** The Board of Directors presents the 56th Annual Report, including audited financial statements for the year ended March 31, 2022. The company's total revenue increased by 24.50% to Rs. 66,949.85 Lakh, while profit after tax increased by 34.66% to Rs. 6509.01 Lakh. A final dividend of Rs. 52.50 per equity share is recommended. The company is committed to corporate governance and has complied with SEBI Listing Regulations. 75.83% of Promoter and Promoter group shareholding has been dematerialized. The company did not accept any public deposits during the financial year. The company invested its surplus funds in plans of HDFC MUTUAL FUND with a balance of Rs. 3708.37 Lakh as of March 31, 2022. Shri G.S. Manasawala, Independent Director, passed away in October 2021. The board expresses its gratitude for his valuable contribution. Shri M.P. Taparia is retiring by rotation and offers himself for re-appointment. Smt. Premlata Purohit is proposed to be re-appointed as an Independent Director. Shri Sivaramakrishnan was reappointed as a Whole-time Director. The directors affirm responsibility for the annual accounts and internal financial controls. **Management Discussion and Analysis:** The global economy is expected to grow, but at a slower pace than in 2021, due to COVID-19, diminished fiscal support, and supply bottlenecks. The Indian economy is projected to grow significantly. COVID-19 had a massive impact on the global economy. COVID waves in the year 2021 - 2022 had a massive impact on the global economy. A reduction in demand in a number of end-use industries, as well as supply chain problems, had damaged the global industry. The company contributes to social security with its contribution of Rs. 126.35 lakh to the Employee Provident Fund and Gratuity during the financial year 2021-2022. **Corporate Governance Report:** Taparia Tools follows key principles of Corporate Governance: transparency, fairness, disclosures, and accountability. The Board consists of Executive, Non-Executive, and Independent Directors, including women directors, in compliance with SEBI regulations. Six board meetings were held during the year. The Audit Committee, Nomination and Remuneration Committee, and Stakeholders' Relationship Committee are in place. The company has a policy on related party transactions and a Vigil Mechanism. Statutory Auditor is M/s. Harshil Shah & Company. Key parameters for the variable component of remuneration paid to the Directors:During the year, no variable remuneration was paid to the Director during the year, except variable dearness allowance. **Energy, Technology & Foreign Exchange:** Details on energy conservation, technology absorption, and foreign exchange earnings/outgo are provided. Particulars relating to conservation of energy, technology absorption, foreign exchange earnings and outgo as required to be disclosed under section 134(3) (m) of the Companies Act, 2013 read with Companies (Accounts) Rules, 2014 are given in the Annexure 'C' and forms part of this Report. **Independent Auditor's Report:** M/s. Harshil Shah & Company provides an unmodified opinion on the financial statements for the year ended March 31, 2022. Key audit matters included provisions for contingencies and litigations, and disclosures of contingent liabilities. The report also addresses the responsibility of management, auditor's responsibilities, and requirements under the Companies Act, 2013. **Financial Statements:** The report includes the Balance Sheet, Statement of Profit & Loss, Cash Flow Statement, and Statement of Changes in Equity as of March 31, 2022, with comparative figures for the previous year. These statements outline the company’s assets, liabilities, equity, revenue, expenses, profits, and cash flows. **Other Key Points:** * The report contains details about e-voting procedures for the AGM. * A register of members and share transfer books will be closed from July 23, 2022, to July 29, 2022. * Members are requested to update their email addresses with the Company or Depository Participants. * The report also contains information on CSR activities, including amounts spent and projects undertaken.