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Company Information

Home » Market » Company Information

TPL Plastech Ltd.

Oct 14
172.80 -2.50 ( -1.43 %)
 
VOLUME : 3035
Prev. Close 175.30
Open Price 170.00
TODAY'S LOW / HIGH
170.00
 
 
 
182.00
Bid PRICE (QTY.) 0.00 (0)
Offer PRICE (Qty.) 0.00 (0)
52 WK LOW / HIGH
48.53
 
 
 
228.30
Oct 14
172.90 -2.25 ( -1.28 %)
 
VOLUME : 12904
Prev. Close 175.15
Open Price 177.20
TODAY'S LOW / HIGH
171.90
 
 
 
177.25
Bid PRICE (QTY.) 0.00 (0)
Offer PRICE (Qty.) 0.00 (0)
52 WK LOW / HIGH
50.08
 
 
 
228.70
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Market Cap. ( ₹ ) 269.73 Cr. P/BV 2.93 Book Value ( ₹ ) 58.92
52 Week High/Low ( ₹ ) 229/50 FV/ML 10/1 P/E(X) 33.70
Bookclosure 18/09/2021 TTM EPS ( ₹ ) 5.13 Div Yield (%) 2.02
DIRECTOR'S REPORT
You can view full text of the latest Director's Report for the company.
Year End :2018-03 

The Members,

The Directors are pleased to present their Report on your company's business operations along with the Audited Statement of Accounts for the financial year ended March 31, 2018.

FINANCIAL HIGHLIGHTS:

(Rs. In lacs)

Particulars

Year Ended

31.03.2018

31.03.2017

Revenue from operations

19,200.32

18,014.70

Other Income

0.58

10.64

Total Revenue

19,200.90

18,025.33

Profit before interest & Depreciation

2,434.43

2,193.89

Interest & Finance Cost

444.37

438.33

Depreciation and Amortization

317.94

285.38

Profit Before Tax

1,672.12

1,470.19

Tax Expenses

(429.41)

(342.20)

Other Comprehensive Income/(Exp)

(4.34)

(1.32)

Profit for the year

1,238.37

1,126.67

Operations:

During the year under review, your Company has achieved revenue from operations of Rs.19,200.32 Lacs, as compared to the revenue from operation of Rs.18,014.70 Lacs of the previous year.

The Company has earned a Net profit after tax of Rs.1,238.37 Lacs as compared to the previous year Rs.1,126.67 Lacs showing an increase of 9.91%.

Dividend:

Your directors are pleased to recommend a final dividend @ Rs.3.50 per share i.e. @ 35% (previous Year - 30%), subject to approval of the shareholders at the ensuing Annual General Meeting.

The total amount of dividend for the year shall be Rs.273.01 Lacs as against Rs.234.01 Lacs for the previous year. Dividend distribution tax paid/ payable by the Company for the year would amount to Rs.55.58 Lacs.

Reserves:

The Company proposes to transfer Rs.124 Lacs to Reserves. (Previous Year Rs.62.50 Lacs).

Deposits:

During the year under review, the Company has not accepted any deposits under the provisions of Companies Act, 2013 read with rules made thereunder and as such no amount on account of principal or interest on deposits was outstanding as on the date of the Balance Sheet.

Subsidiaries, Associates and Joint Ventures:

During the Year Company acquired 100% holding of the Ecotech Green Lifecycle Limited.

A separate statement containing the salient features of financial statements of all subsidiary of the Company forms a part of consolidated financial statements in compliance with Section 129 and other applicable provisions, if any, of the Companies Act, 2013. In accordance with Section 136 of the Companies Act, 2013, the financial statements of the subsidiary company are available for inspection by the members at the corporate office of the Company during normal business hours on all the working days upto the date of the Annual General Meeting (AGM).

Pursuant to Section 136 of the Companies Act, 2013 ("the Act"), the Company is exempted from attaching to its Annual Report, the Annual Report of the Subsidiary Companies. The Company shall provide the copy of the financial statement of its subsidiary companies to the shareholders upon their request.

Number of Meetings of the Board:

The Board of Directors of the Company met Seven times during the previous financial year on 13.04.2017, 19.04.2017, 01.05.2017, 25.05.2017, 10.08.2017, 09.11.2017 and 12.02.2018. The particulars of attendance of the Directors at the said meetings are detailed in the Corporate Governance Report of the Company, which forms a part of this Report. The intervening gap between the Meetings was within the period prescribed under the Companies Act, 2013.

Policy on Directors Appointment and Remuneration:

For the purpose of selection of any Director, the Nomination & Remuneration Committee identifies persons of integrity who possess relevant expertise, experience and leadership qualities required for the position and also takes into consideration recommendation, if any, received from any member of the Board.

The Committee also ensures that the incumbent fulfills such other criteria with regard to age and other qualifications as laid down under the Companies Act, 2013 or other applicable laws.

Performance Evaluation:

The Board of Directors has carried out an annual evaluation of its own performance, its Committees and individual Directors pursuant to the requirements of the Act and the Listing Regulations. Further, the Independent Directors, at their exclusive meeting held during the year reviewed the performance of the Board, its Chairman and Non-Executive Directors and other items as stipulated under the Listing Regulations.

The Directors were satisfied with the evaluation results, which reflected the overall engagement of the Board with the Company.

Independent Directors:

The Company has received declaration from all the Independent Directors of the Company confirming that they fulfill the criteria of independence specified in Section 149 (6) of the Companies Act, 2013 and under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Terms and conditions of appointment of Independent Directors are placed on the website of the Company.

During the year Mr. Suryapratap Gupta was appointed as Additional Director on 09.11.2017 on the Board subject to the regularisation in next Annual General Meeting.

Nomination and remuneration policy:

The Company has adopted a Policy on Directors' appointment and remuneration including criteria for determining qualifications, positive attributes, independence of a director and other matters provided under Section 178 (3) of the Companies Act, 2013. The remuneration paid to the Directors is as per the terms laid out in the Nomination and Remuneration policy of the Company. The Policy is available on the website of the Company.

Extract of Annual Return:

The extract of Annual Return as provided under sub-section (3) of section 92 of the Companies Act, 2013 ('the Act') in prescribed Form MGT-9 is enclosed as Annexure "A” to this report.

Auditors:

Statutory Auditor:

M/s. Raman S. Shah & Associates, Chartered Accountants, Mumbai (Firm's Regn No. 119891W), have been appointed as the Statutory Auditor of the Company in the last Annual General Meeting. M/s Raman S. Shah & Associates were appointed as Statutory Auditors of the Company for the period of five years upto the Conclusion of the AGM to be held for year 2021-2022, Subject to ratification by members at every Annual General Meeting of the Company. They have confirmed their eligibility under Section 141 of the Companies Act, 2013 and the Rules framed thereunder for reappointment as Auditors of the Company. M/s Raman S. Shah & Associates, Chartered Accountants have also confirmed that they hold a valid certificate issued by the Peer Review Board of the Institute of Chartered Accountants of India.

Secretarial Auditor:

Pursuant to the provisions of Section 204 of the Companies Act, 2013, and The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company has appointed M/s. Arun Dash & Associates, a firm of Company Secretaries in Practice to undertake the Secretarial Audit of the Company.

Loans, Guarantees & Investments:

The particulars of loans, guarantees and investments have been disclosed in the financial statements.

Related Party Transactions:

All related party transactions entered into during FY 2017-18 were on an arm's length basis and in the ordinary course of business and were in compliance with the applicable provisions of the Companies Act, 2013 ('the Act') and the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations'). Further, there were no transactions with related parties which qualify as material transactions under the Listing Regulations. All transactions with related parties were reviewed and approved by the Audit Committee. Prior omnibus approvals are granted by the Audit Committee for related party transactions which are of repetitive nature, entered in the ordinary course of business and are on arm's length basis in accordance with the provisions of the Act read with the Rules issued thereunder and the Listing Regulations.

The policy on materiality of related party transactions and dealing with related party transactions as approved by the Board is available on the Company's website. The Form AOC-2 pursuant to section 134 (3) (h) of the Companies Act read with Rule 8(2) of the Companies(Accounts) Rules, 2014 is set out as "Annexure E" to this Report.

Material Changes:

There is No Material Changes affecting the financial position of the company which have occurred between the end of the financial year of the company to which this financial statement relate on the date of this report.

Conservation of Energy Technology Absorption and Foreign Exchange Earnings and Outgo:

The information on conservation of energy, technology absorption and foreign exchange earnings and outgo stipulated under Section 134(3)(m) of the Companies Act, 2013 read with Rule 8 of The Companies (Accounts) Rules, 2014, is annexed herewith as "Annexure D".

Risk Management:

The risk management includes identifying types of risks and its assessment, risk handling and monitoring and reporting. Your Company follows well-established and detailed risk assessment and minimisation procedures, which are periodically reviewed by the Board. The Company's Risk Management Policy has been developed to include various categories such as Human Resources, Financial, Business Processes and Systems, Corporate Governance, Compliance and Information Security.

A detailed exercise has been carried out to identify, evaluate, manage and monitor the risks which shall help the Company to take pro-active decisions and avoid all financial implications. The Board periodically reviews the risks and suggests steps to be taken to control and mitigate the same through a properly defined framework.

Audit Committee Composition:

The details pertaining to composition of Audit Committee are included in the Corporate Governance Report which forms a part of this Report.

Corporate Social Responsibility:

In compliance with the requirements of section 135 of the Companies Act, 2013 read with the Companies (Corporate Social Responsibility) Rules, 2014, the Board of Directors have constituted a Corporate Social Responsibility Committee. The details of membership of the Committee & the meetings held are detailed in the Corporate Governance section of the Annual Report.

Details of the CSR contribution spent by the Company for the F.Y. 2017-18 is provided in the CSR report which is annexed herewith as "Annexure C".

Corporate Governance:

As required under the provisions of Regulation 34(3) read with Schedule V of the SEBI Listing Regulations, a separate report on Corporate Governance forms part of this Annual Report, together with a Certificate from the Auditors of the Company regarding compliance of conditions of Corporate Governance.

Management discussion and analysis:

In terms of the provisions of Regulation 32 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, (hereinafter referred to as 'SEBI Listing Regulations'), the management's discussion and analysis is set out in this Annual Report.

Vigil Mechanism-Whistle Blower’s Policy:

The Company believes in conducting its affairs in a fair and transparent manner by adopting the highest standards of professionalism, honesty, integrity and ethical behavior. In order to achieve the same, the Company has formulated a Whistle Blowers' Policy to provide a secure environment and to encourage all employees and Directors of the Company, shareholders, customers, vendors and/or third party intermediaries to report unethical, unlawful or improper practices, acts or activities in the Company and to prohibit managerial personnel from taking any adverse action against those employees who report such practices in good faith. The Policy has been uploaded on the website of the Company.

Significant and Material Orders Passed by the regulators or Courts or Tribunals:

No significant or material Orders were passed by the Regulators or Courts or Tribunals during the previous year which may impact the Going Concern Status of the Company's Operation in the future.

Internal Financial Controls:

The Company has in place a well defined organizational structure and adequate internal controls for efficient operations which is cognizant of applicable laws and regulations, particularly those related to protection of intellectual property, resources and assets, and the accurate reporting of financial transactions in the financial statements. The company continually upgrades these systems.

The internal control system is supplemented by extensive internal audits, conducted by independent firms of chartered accountants.

DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013:

The Company has zero tolerance for sexual harassment at workplace and has adopted a Policy on prevention, prohibition and redressal of sexual harassment at workplace. The Company has not received any complaint of any sexual harassment during the previous year.

Acknowledgements:

The Directors express their appreciation to all employees of the various divisions for their diligence and contribution to performance. The Directors also record their appreciation for the support and co-operation received from Banks, Financial Institutions, Government Departments and all other stakeholders. Last but not the least, the Directors wish to thank all shareholders for their continued support.

For and on behalf of the Board

M. K. Wadhwa Mangesh Sarfare

Place: Mumbai Director Whole Time Director

Date: 22.05.2018 DIN - 00064148 DIN- 07793543