Dear Members,
With an immense pleasure, the Board of Directors of your Company presents the 39th
Annual Report of the Company together with the Audited Financial Statements for the
Financial Year ended March 31, 2023.
FINANCIAL HIGHLIGHTS:
The financial statements of the Company have been prepared in accordance with the
Indian Accounting Standards (Ind AS) notified under section 133 of the Companies Act, 2013
read with Rule 7 of the (Companies Accounts) Rules, 2014.
The financial performance of the Company, for the financial year ended on March 31,
2023 are summarized below:
ii (^ in Lakh) ^
FINANCIAL RESULTS: |
Year Ended 31.03.2023 |
Year Ended 31.03.2022 |
Operational Income |
32773.62 |
36905.33 |
Other Income |
861.45 |
804.78 |
Total Income |
33635.06 |
37710.11 |
Profit/loss before depreciation, Finance, Costs, Exceptional items and
Tax Expense |
5308.23 |
7915.02 |
Less: Depreciation |
819.32 |
795.32 |
Profit/loss before Finance, Costs, Exceptional items and Tax Expense |
4488.91 |
7119.69 |
Less: Finance Cost |
380.41 |
382.46 |
Profit/Loss before Exceptional Items and Tax Expense |
4108.51 |
6737.23 |
Less: Exceptional Items |
0 |
0 |
Profit/ (Loss) before tax |
4108.51 |
6737.23 |
Current Tax Provision |
1101.82 |
1599.56 |
Deferred Tax Provision |
0.43 |
21.63 |
Profit / (Loss) for the year |
3006.26 |
5116.05 |
Add: Balance of profit brought forward from previous year |
17112.20 |
12031.19 |
Less: Dividend Paid |
(43.79) |
(35.04) |
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Balance Carried to Balance Sheet |
20074.67 |
17112.20 |
OPERATIONS:
Total Income
During the Financial Year, it is noted that the total income for the financial year
ended on March 31, 2023, amounted to ^33,635.06 Lakh, representing a decrease of 10.81 %
compared to the total income of ^37,710.11 Lakh for the previous financial year ended on
March 31, 2022.
The profit before tax for the financial year ended on March 31,2023, amounted to ^
4108.51 Lakh, representing a decrease of 39.02% compared to the profit before tax of ^
6737.23 Lakh for the previous financial year ended on March 31, 2022.
Profit After Tax
The profit after tax for the financial year ended on March 31,2023, amounted to ^
3006.26 Lakh, representing a decrease of 41.24% compared to the profit after tax of ^
5116.05 Lakh for the previous financial year ended on March 31, 2022.
The company's earnings per share for the financial year 2022-2023 was ^ 34.33.
BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The Annual Audited Financial Statements for the Financial Year 2022-2023, forming part
of this Annual Report, have been prepared in accordance with Indian Accounting Standards
(Ind-AS) notified under Section 133 of the Companies Act, 2013 read with Companies (Indian
Accounting Standard) Rules, 2015 and requirements of Division II of Schedule III of
Companies Act, 2013 and applicable Rules (hereinafter referred to as "the Act")
and in accordance with applicable regulations of Securities and Exchange Board of India
(Listing Obligations and Disclosures Requirement) Regulations, 2015 (hereinafter referred
to as the "Listing Regulations").
TRANSFER TO RESERVES
During the year, the Company has not apportioned any amount to other reserve. The
profit earned during the year.
DIVIDEND
During the review period, the Company experienced a decrease in profit. However,
considering the interests of our shareholders and in accordance with the Company's
established track record and practice, the Board of Directors, in its meeting held on
August 14, 2023, has recommended a final dividend of ^0.50 per equity share of W- each for
the Financial Year 2022-2023. This dividend amounts to ^43,79,000 and is subject to the
approval of the Members at the ensuing Annual General Meeting.
Furthermore, if the dividend is approved by the shareholders at the ensuing Annual
General Meeting, it will be disbursed to those members whose names appear in the Register
of Members as beneficial owners on the record date, which is Friday, September 22, 2023.
The Registrar & Transfer Agent of the Company will furnish the list of Register of
Members for dividend distribution.
The shareholders are requested to note that the information pertaining to the Tax
Deduction at Source on dividends paid which have become taxable in the hands of
shareholders w.e.f. April 1, 2020 in pursuance to the amendment in Finance Act, 2020, has
been mentioned in the notes to the Notice of this Annual General Meeting forming part of
the Annual Report.
CORPORATE GOVERNANCE
Your Company has complied with the requirements of corporate governance as prescribed
under Schedule V of the SEBI (LODR) Regulations, 2015. A separate report on corporate
governance forms the part of the annual report as ANNEXURE-K. certificate from the
Practicing Company Secretary regarding compliance of conditions of Corporate Governance is
presented under a separate section, which forms part of this Annual Report.
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