Your Directors have pleasure in presenting the 40Th Annual Report on business operation, together with Audited Financial statement for the year ended March 31, 2024.
Financial Summary
1. The summarized financial highlight is depicted below:
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(All amounts in INR Rupees, unless otherwise stated)
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Particulars
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31st-March-24
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31st March-23
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Revenue from operations
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8,725.33
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5,264.36
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Other income
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24.23
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19.13
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Total income
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8,749.56
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5,283.49
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Expenses
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Purchases of stock in trade
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8,471.69
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5,124.61
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Changes of inventory - stock in trade
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-42.13
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-47.68-
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Employee benefits expense
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42.76
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33.08
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Finance costs
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39.45
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14.71
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Depreciation and amortization expense
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56.11
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17.02
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Other expenses
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66
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5,173.30
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Profit before exceptional items and tax
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115.14
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110.20
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Exceptional items
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0
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0
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Profit before tax
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115.14
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110.20
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Tax expense
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Provision for Current tax
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-34.59
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-29.50
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Deferred tax (benefit)/charge
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-4.65
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-7.23
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Total tax expense
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-39.24
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-36.72
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Profit for the year
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75.90
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73.47
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Earnings per equity share (FV of Rs.10 each)
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Basic
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2.17
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2.10
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Diluted
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2.17
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2.10
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2. Dividend:
The directors of company has not recommended any dividend for the current Period.
3. Fixed Deposits:
During the Period Your Company has not accepted any public deposits during the financial period under review.
4. RELATED PARTY TRANSACTIONS
There are No Related Party Transactions that were entered into during the financial year were on an arm's length basis, in the ordinary course of business and were in compliance with the applicable provisions of the Act and the Listing Regulations. There were no materially significant Related Party Transactions made by the Company during the year that would have required Shareholder approval under the Listing Regulations.
All Related Party Transactions are placed before the Audit Committee for approval. Prior omnibus approval of the Audit Committee is obtained for the transactions which are repetitive in nature. A statement of all Related Party Transactions is placed before the Audit Committee for its review on a quarterly basis, specifying the nature, value and terms and conditions of the transactions.
The Company has adopted a Related Party Transactions Policy. The Policy, as approved by the Board, is uploaded on the Company's website.
Details of the transactions with Related Parties are provided in the accompanying financial statements. There were no transactions during the year. Which would not require to be reported in Form AOC.2.
Related party disclosures
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A. List of Key Management Personnel
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Mr. Sudhanshu Kumar Mishra
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Managing Director
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Mr. Vatsal Agarwaal
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Director
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Mr. Vineet Kumar
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Managing Director Resign from 27.07.2024
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Ms. Neelam Patwari
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Director
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Mr. Chinmoy Kumar Guha
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Director
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Mr. Ashok Kumar Tyagi
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Director
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Mr. Robin Keshri
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Company Secretary
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B. Compensation to key management personnel :
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Particulars
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FY 2023-24
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FY 2022-23
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Short term employee benefits
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8.03
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3.90
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Directors Remuneration / Sitting Fees
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1.81
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1.10
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Post-employment benefits
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-
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-
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Other long-term benefits
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-
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-
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Total Compensation to key management personnel
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9.84
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5.00
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Other related Parties with whom transactions have taken place
Simplex Coke and Refractory Pvt. Ltd.
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Nature of Transaction
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FY 2023-24 (Rs.)
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FY 2022-23 (Rs.)
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Purchases : Traded Goods
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-
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56.69
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Purchases : Machine Hire charges
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-
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-
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Pilling Rig Machine purchase
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-
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573.16
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Pilling Rig Machine sales
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253.70
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-
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Sales Machine Hire Charges
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166.12
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80.87
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Sales Traded Goods
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520.81
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225.64
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Total
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940.63
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936.36
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5. RISK MANAGEMENT
Risk management comprises all the organizational rules and actions for early identification of risks in the course of doing business and the management of such risks.
Although not mandatory, as a measure of good governance, the Company has constituted a Risk Management Committee of the Board. The Committee reviews the Company's performance against identified risks, formulates strategies towards identifying new and emergent risks that may materially affect the Company's overall risk exposure and reviews the Risk Management Policy and structure.
This robust Risk Management framework seeks to create transparency, minimize adverse impact on business objectives and enhance the Company's competitive advantage.
The Internal Audit Department is responsible for facilitating coordination with the heads of various Departments, with respect to the process of identifying key risks associated with the business, manner of handling risks, adequacy of mitigating factors and recommending corrective action. The major risks forming part of the Enterprise Risk Management process are linked to the audit universe and are also covered as part of the annual risk based audit plan.
The Company has adopted a Risk Management Policy pursuant to Section 134 of the Act.
6. Information under Section 196-202 of Companies Act, 2013 and Rule 3-10 of the, Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014
None of the employees was in receipt of remuneration exceeding the limit specified under section 196-202 of Companies Act, 2013.
7. INFORMATION UNDER SECTION 196 - 202 OF THE COMPANIES ACT, 2013 AND RULE 3-10 OF THE COMPANIES (APPOINTMENT AND REMUNERATION OF MANAGERIAL PERSONNEL) RULE, 2014
None of the employees was in receipt of remuneration exceeding the limit specified under section 196-202 of Companies Act, 2013
8. DIRECTORS
Pursuant to section 152 of the companies Act, 2013 (the 'Act') and under Article (Article No. if any) of the Company's Articles of Association.
Mr. Sudhanshu Kumar Mishra has been Appointed as an Managing Director of the Company with effect from 27Th July, 2024.
Mr. Vineet Kumar has been Appointed as Managing Director of the Company with effect from 7Th August,2023 & resign from 27Th July,2024
DIRECTORS’ RESPONSIBILITY STATEMENT:
Pursuant to in terms of clause (c) of Sub Section 3 of Section 134 of the Companies Act, 2013, the Directors, based on the representations received from the management, confirm:
That in the preparation of the Annual Accounts, the applicable accounting standards have been followed,
That we have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of March 2023 and of the Profits /Loss of the Company for that period,
That we have taken proper and sufficient care for the maintenances of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities, that we have prepared the Annual accounts on a going concern basis.
9. AUDITORS:(1) Statutory Auditors:
The Board has proposed to re-appointed of M/s BHATTER & ASSOCIATES., Chartered (FRN:131411W) as a Statutory Auditors of the Company until the conclusion of next Annual General Meeting of the company at remuneration as the Board of Directors may determine. “Subject to the approval of the shareholders in the Annual General Meeting of the company.”
(2) Secretarial Auditors:
Pursuant to the provisions of Section 204 of the Act and The Companies (Appointment and Remuneration of Managerial Personnel) Rules,2014, the Board of Directors of the Company
had appointed Mr. Rantu Das & Associates, Practicing Company Secretary in practice (M.No:8437) to undertake the Secretarial Audit of the Company for the year ended 31st March, 2024. The Secretarial Audit Report is annexed Practicing Company Secretary in practice.
10. CONVERSATION OF ENERGY-RESEARCH AND DEVELOPMENT-TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:
The information required under the companies Act, 2013 with respect to conversation of energy, technology absorption and foreign exchange earnings / outgo is appended hereto it forms part of this Report.
11. EMPLOYEE RELATIONS:
The employee relations in the company continued to be positive, information as per Section 134 of the Companies Act, 2013 (the 'Act') read with the Companies (Particulars of Employees) rule, 1975 forms part of this Report. As per the provisions of the Section 136(1) of the Act, the Report and Accounts are being sent to the shareholders of the Company excluding the statement on particulars of employees under Section 134 of the Act. Any shareholder interested in obtaining a copy of the said statement may write to the Secretarial Department at the Registered Office of the Company.
12. TRADE RELATIONS:
Your Directors wish to record appreciation of the continued unstinted support and co - operation from its Customers, suppliers of goods / services, clearing and forwarding agents and all others associated with it. Your Company will continue to build and maintain strong association with its business partners.
Your Company also has policy on prevention of Sexual Harassment which is reviewed by the internal Complaints Committee at regular intervals. Your Company recognizes its responsibility and continues to provide a safe working environment for women, free from sexual harassment and discrimination and to boost their confidence, morale and performance.
13. CORPORATE GOVERNANCE:
As per regulation 72 of the SEBI (Listing Obligation and Disclosure Requirement) Regulations 2015 of the Listing Agreement entered into with the Stock Exchanges, Corporate Governance Report with auditors' certificate thereon and management Discussion and Analysis are attached and form part of this report.
14. ACKNOWLEDGEMENTS:
The Directors thank the Company's customers, vendors, investors, business associates, bankers for their support to the company. The Directors appreciate and value the contributions made by every member of the “Stratmont” family across the country.
15. PARTICULARS OF EMPLOYEES
There was no employee in respect of whom information is required to be given pursuant to Section 134 of the Companies Act, 2013 read with the Companies (Particulars of Employees) Amendment Rules, 1999 as amended up-to-date.
16. AUDITOR REPORT
The Auditors' Report to the shareholders did not contain any adverse or qualification remarks.
17. INDUSTRIAL RELATIONS
During the year under review, your company has cordial and harmonious industrial relations at all levels of the Organization.
18. PUBLIC DEPOSITS
During the year under review, your Company has not accepted any Fixed Deposits from public within the meaning of the provisions of the Section 73 & 76 of the Companies Act, 2013 and the Rules made there under.
Your Directors place on record their appreciation of the dedication and commitment of your Company's employees and look forward to their support in the future as well.
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