Latin Manharlal Chat
BSE Prices delayed by 5 minutes...
     Prices as on Sep 26, 2018 - 10:17AM     
  ABB India 1465 [ 2.84% ]
  ACC 1573.5 [ 0.52% ]
  Axis Bank Ltd. 620.65 [ 0.88% ]
  Bank of Baroda 109.35 [ -0.14% ]
  Bharti Airtel 364 [ 1.08% ]
  Bharat Heavy Ele 72.6 [ 1.47% ]
  Bharat Petroleum 363.9 [ -0.64% ]
  Britannia Ind. 5692.25 [ -1.49% ]
  Cipla 663.6 [ 0.51% ]
  Coal India 273.1 [ -0.76% ]
  Colgate Palm. 1107 [ 0.87% ]
  Dabur India 434.5 [ -0.87% ]
  DLF Ltd. 180.5 [ 1.60% ]
  Grasim Inds. 1043 [ 0.51% ]
  HCL Technologies 1094.6 [ -1.60% ]
  HDFC 1780.45 [ 0.49% ]
  HDFC Bank 1973.25 [ 1.10% ]
  Hero MotoCorp 3103.35 [ -0.14% ]
  ICICI Bank 310.55 [ 0.13% ]
  IDFC L 42.4 [ 1.44% ]
  IndusInd Bank 1704.95 [ 0.70% ]
  Infosys 725.4 [ -0.15% ]
  ITC Ltd. 295.15 [ -1.96% ]
  Jindal St & Pwr 230.5 [ 2.08% ]
  L&T 1322 [ 0.24% ]
  Lupin Ltd. 899.5 [ 2.14% ]
  Mahi. & Mahi 913.5 [ 2.24% ]
  MTNL 14.6 [ 3.55% ]
  Nestle India 9600.95 [ -1.30% ]
  NIIT Ltd. 80.25 [ -0.74% ]
  NMDC Ltd. 114.95 [ 1.37% ]
  NTPC 170.7 [ 0.53% ]
  ONGC 180.3 [ -0.93% ]
  Punj. NationlBak 68 [ 1.42% ]
  Power Grid Corpo 190.5 [ -0.96% ]
  Reliance Inds. 1233 [ 0.20% ]
  SBI 269.95 [ -0.11% ]
  Vedanta 231 [ 0.13% ]
  Shipping Corpn. 46.3 [ -0.11% ]
  Sun Pharma. 647 [ 1.13% ]
  Tata Chemicals 704.05 [ -1.04% ]
  Tata Motors Ltd. 238.8 [ -0.87% ]
  Tata Steel 607.5 [ 1.26% ]
  Tata Power Co. 70.35 [ 0.36% ]
  Tata Consultancy 2179.3 [ -0.17% ]
  United Spirits 534 [ 0.58% ]
  Wipro Ltd 322.4 [ -2.15% ]

Company Information

Home » Market » Company Information

Mangalam Organics Ltd.

Sep 26, 10:17
425.00 +12.05 (+ 2.92 %)
 
VOLUME : 2745
Prev. Close 412.95
Open Price 425.00
TODAY'S LOW / HIGH
410.00
 
 
 
429.75
Bid PRICE (QTY.) 423.05 (1)
Offer PRICE (Qty.) 425.00 (50)
52 WK LOW / HIGH
74.05
 
 
 
510.00
Mangalam Organics Ltd. is not traded in NSE
Company Information Menu

Search Company

Market Cap. ( ₹ ) 363.99 Cr. P/BV 5.99 Book Value ( ₹ ) 70.90
52 Week High/Low ( ₹ ) 510/74 FV/ML 10/1 P/E(X) 25.18
Bookclosure 29/09/2018 TTM EPS ( ₹ ) 27.98 Div Yield (%) 0.24
DIRECTOR'S REPORT
You can view full text of the latest Director's Report for the company.
Year End :2016-03 

To,

The Members

The Directors have pleasure in presenting their 34th Annual Report, together with the Audited Statement of Accounts for the financial year ended 31st March, 2016.

FINANCIAL RESULT : The summarized financial results of the company for the year ended 31st March, 2016 are presented below:

2015-2016 Rupees in Lacs

2014-2015 Rupees in Lacs

Gross Sales including other Income

21981.62

26650.73

Add: Excise Duty Refund

0.00

0.00

Gross Profit before interest, Depreciation and Taxation

443.63

1882.69

Interest

644.42

581.12

Depreciation

530.10

616.99

Provision for Taxation

0.00

230.00

Less: MAT Credit

0.00

0.00

Provision for deferred taxation

-303.22

34.47

Tax Adjustment of earlier year

0.00

0.00

Net Profit for the year

-1034.11

420.12

Surplus brought forward from previous year

3310.31

3167.40

Balance Available for Appropriation

2276.20

3310.31

Appropriations

a) General Reserve

-

-

b) Dividend

-

-

c) Dividend Tax

-

-

Balance carried forward to Balance Sheet

2276.20

3310.31

DIVIDEND:

With a view to conserve the resources in long run, your Directors have not recommended any dividend for the year ended 31st March, 2016.

TRANSFER TO RESERVE:

Your Company proposes to transfer Rs. NIL to General Reserves out of the amount available for appropriations duringthe financial year 2015-2016 (as compared to Rs. Nil in the previous financial year).

MANAGEMENT DISCUSSION AND ANALYSIS OVERVIEW

The Company is engaged in the manufacturing and selling activities of Camphor, Sodium Acetate and by products, Terpene Chemicals and Synthetics Resins at its Units located at Kumbhivali Village, Taluka Khalapur, Khopoli, District Raigad, Maharashtra.

MEETINGS

A calendar of meetings is prepared and circulated in advance to the Directors.

During the year Four meetings were convened and held, the details of which are given in the Corporate

The Board has, on the recommendation of the Nomination and Remuneration Committee approved a policy for selection, appointment and remuneration of Directors and Senior Management.

Audit Committee of the Board has been constituted in terms of Section Listing Regulations and Section 177 of the Companies Act, 2013 constitution and other details of the Audit Committee are given Corporate Governance

The Board has carried out the annual evaluation of its own performance and of each of the directors individually, including the independent directors, as well the working of its committees.

DETAILS OF THE SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY'S OPERATIONS IN FUTURE

There are no significant and material orders passed by the Regulators / Courts that would impact the going Pursuant to the Provisions of Section 204 of the Companies Act, 2013, Yogesh Sharma the Practicing Company Secretary (CP No. 12366) have been appointed to undertake the secretarial audit of the company for the year ended 31.03.2016. The secretarial audit report forms part of this Annexure C.

The said report does not contain any qualification, adverse marks or disclaimer.

Pursuant to Section 148 and applicable provisions of the Companies Act, 2013 and the Companies (Cost Records and Audit Rules 2014, the Company is required to appoint cost auditor for audit of cost records maintained by the Company in respect of the year ending March, 2017. Your Directors have on the recommendation of the Audit Committee appointed Mr. Naresh Jethwani, as the Cost Auditor to audit the cost records for the financial year ending March, 2017. Remuneration payable to the Cost Auditor is subject to the approval by members of the Company. Accordingly resolution seeking member's approval for the remuneration payable to Mr. Naresh Jethwani is included in the Notice convening the Annual General Meeting along with the relevant details including

DIRECTORS AND KEY MANAGERIAL PERSONNEL

There is no change in the Board of Directors of the Company during the year 2015-2016. At present there are six directors on the Board, i.e. Mr. Kamalkumar Dujodwala, Mr. Pannkaj Dujodwala (Managing Director) and four independent Directors i.e. Mr. Rajkumar Saraf, Mr. Rajkumar Jatia, Mr. Sharad Saraf and Mrs. Anita Shriya, the details of which are given in the Corporate Governance Report.

The Independent Director are not liable to retire by rotation and the Managing Director is appointed for a period of 5 years in last AGM. Hence the Company has only One Director on the board to be retired by rotation. In accordance with provisions of the Companies Act, 2013 and the Company's Articles of Association, Mr. Kamalkumar Dujodwala retires by rotation at the ensuing AGM and being eligible offers himself for

DIRECTOR'S RESPONSIBILITY STATEMENT

In terms of section 134(3) (c) of the Companies Act, 2013, your Directors, to the best of their knowledge and belief and according to the information and explanations obtained by them in the normal course of their work state that

a) In the preparation of the annual financial statements for the year ended March, 2016, the applicable

b) Appropriate accounting policies have been selected, applied consistently and judgments and estimates have been made that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company as at March 31,2016 and of the profit of the company for the year ended on that date.

c) Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions Companies Act, 2013 for safeguarding the assets of the company and for

d) The annual financial statements have been prepared on a going concern basis.

e) Proper internal financial controls were in place and the financial controls were adequate and operating

f) systems to ensure compliance with the provisions of all applicable laws were in place and were adequate

During the year the company has accepted deposits from the Shareholders and others and that the Company has complied with the provisions of Section 73 of the Companies Act, 2013 and the rules made there under.

M/s. R. Kabra & Co, Chartered Accountants (Registration No. 104502W) resigned as statutory auditors of the Company and M/s. NGST & ASSOCIATES (Chartered Accountants) ICAI firm Registration No. 135159W, shall be appointed as the statutory auditors of the Company till the conclusion of 39th Annual General Meeting of the Company subject to the approval of the members at every AGM. Your Directors recommend their appointment as

The observation and comments given in the Auditors report read together with the notes to the accounts are self explanatory and hence do not call for any further information and explanation under Section 134 (3) of the

PARTICULARS OF LOANS. GUARANTEES OR INVESTMENT BYTHE COMPANY

The Company has not given any loans or guarantees or investments covered under the Provisions of Section 186

All related party transactions that were entered into during the financial year were at an arm's length basis and were in the ordinary course of business. There are no materially significant related party transactions made by the company with the promoters, directors, key managerial personnel or other designated persons which may have a

All related party transactions are placed before the Audit Committee for approval. Prior Omnibus approval of the Committee is obtained on a quarterly basis for the transactions which are of a foreseen and repetitive nature.

Details of the related party transaction during the year as required under Listing Regulations and Accounting Standards are given in Note 31 in the financial statement.

ESTABLISHMENTOF VIGIL MECHANISM

The Company has in place a vigil mechanism pursuant to which a Whistle Bowler Policy has been in force. The Policy was approved on 06.01.2015. This policy inter alia provides a direct access to Whistle Bowler to the Chairman of the Audit Committee on his dedicated email-id info@mangalamorganics.com. The Whistle Bowler Policy covering all employees and directors is hosted on the Company's website atwww.mangalamorganics.com.

THE DETAILS IN RESPECT OF ADEQUACY OF INTERNAL FINANCIAL CONTROLS:

The Company has designed and implemented a process driven framework for internal financial controls ("IFC") within the meaning of the explanation to Section 134(5) (e) of the Companies Act, 2013.

For the year ended 31s1 March, 2016 the Board is of the opinion that the Company has sound IFC commensurate with the nature and size of its business operations, wherein controls are in place and operating effectively and no material weaknesses exist. The Company has a process in place to continuously monitor the exiting controls and identify gaps, if any and implement new and/or improved controls wherever the effect of such gaps would have a

DISCLOSURE UNDER THE SEXUAL HARASSMENTOF WOMEN AT WORKPLACE {PREVENTION. PROHIBITION AND

The Company has in place an Anti Sexual Harassment Policy in line with the requirements of the Sexual Harassment of women at the workplace (Prevention, Prohibition and Redressal) Act, 2013. Internal Complaints Committee (ICC) has been set up to redress complaints received regarding sexual harassment.

All employees (Permanent, contractual, temporary, trainees) are covered under this policy. The following is a summary of sexual harassment complaints, received regarding sexual harassment.

In accordance with Section 134(3) (a) and Section 92 of the Act, an extract of the Annual Return as of 31st March,

The Company's policy on programmes and measures to familiarize Independent Directors about the Company, its business, updates and development includes various measures viz., issue of appointment letters containing terms, duties etc. management information reports, presentation and other programmes as may be appropriate from time to time. The Policy and programme aims to provide insights into the Company to enable Independent Directors to understand the business, functionaries, business model and others matters. The said policy and

CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:

As required under Section 134 (3) (m) of the Companies Act, 2013 read with Rule 8 of the Companies (Accounts) Rules, 2014, the particulars relating to conservation of Energy, technology absorption and foreign exchange earnings and outgo are given in Annexure-1 hereto and forms part of this report.

The relation between the Company and its employees continue to be cordial. There were no employees during the year drawing remuneration more than prescribed ceiling under section 134 of the Companies Act, 2013 read

CORPORATE GOVERNANCE REPORT

A report on the Corporate Governance along with the certificate from the statutory auditors is separately given in the annual report.

The Board of Directors express their appreciation for the sincere co-operation and assistance of Government Authorities, Bankers, Customers, suppliers, Business Associates and the efforts put in by all the employees of the Company. The Board of Directors expresses their gratitude to all our valued shareholders for their confidence and Continued support to the company

For and on behalf of the Board of Directors

Sd/-

Kamalkumar Dujodwala

Chairman

Place: Mumbai

Date: 3rd Sept,2016