Aritas Vinyl Ltd Directors Report

Dear Shareholders

Your Directors are pleased to present the 3^rd Annual Report together with the Audited Financial statements for the year ended 31^st March, 2023.

Financial Results

PARTICULARS	2022-2023 (Rs. in Lacs)	2021-2022 (Rs. in Lacs)
Sales and Other Income	5142.00	3049.59
Operating Profit fPBIDT]	313.79	232.78
Interest Cost	121.01	70.36
Profit before Depreciation (PBDT]	192.78	162.42
Depreciation	67.33	60.06
Profit before Tax	125.45	102.36
Provision for Taxation	23.34	18.43
Profit after Tax	102.11	83.94

Operations and State of Companys affairs

During the year under review, your Company has earned total revenue of Rs. 5142.00 lakhs which is 68.61% higher as compared to the last Financial Year. It is to be noted that as year passes, the company is achieving good numbers.

Your directors are confident about the performance of the Company in the coming years. No material changes and commitments have occurred after the close of the Financial year till the date of this report.

Deposit

The Company, during the year has not invited/ accepted any deposit other than the exempted deposit as prescribed under the provision of the Companies Act, 2013 and the rules framed there under, as amended from time to time. Hence there are no particulars to report about the deposit falling under Rule 8 (5) (v) and (vi) of Companies (Accounts] Rules, 2014.

Reserves

No amount has been transferred to Reserves during the year under review.

Dividend

The board decided not to declare dividend for the year to converse the resources to meet with the Working Capital requirement and growth of the business activity company.

Change in the nature of business

There is no Change in the nature of the business of the Company during the year.

Industrial Relation

Industrial relation continues to be cordial. Your directors express deep appreciation for the dedicated services rendered by workers, staff officers of the company.

Meetings of the Board

During the year under review, the Board met 6(Six] Times. Proper notices were given and the proceedings were properly recorded and signed in the Minutes book as required by the Articles of Association of the Company and the Companies Act, 2013.

Directors Responsibility Statement

Pursuant to requirement under sub-section (3) and (5) of Section 134 of the Companies Act, 2013, with respect to Directors Responsibility Statement, your directors state that:

i. In the preparation of the Annual Accounts, the applicable accounting standards read with requirements set out under Schedule III to the Act, have been followed and there are no material departures from the same;

ii. The Directors have selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company as at 31st March 2023 and of the profit /loss of the company for that period;

iii. The Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

iv. The Directors have prepared the annual accounts on a going concern basis.

v. The directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.

Risk Management Policy

The Company does not have any Risk Management Policy as the elements of risk threatening the Companys existence are very minimal and reckoned as non-consequential in nature.

Internal Financial Controls

The Company has in place adequate internal financial controls with reference to financial statements.

Contracts and arrangements with related parties

Particulars of contracts or arrangements with related parties referred to in Section 188(1) of the Companies Act, 2013, in the prescribed Form AOC-2, is appended as Annexure No. 3 to the Boards report.

Corporate Social Responsibility

As the company does not cross the threshold specified under section 135 (Corporate Social Responsibility) of the Companies Act, 2013, hence section 135 and rules made thereunder and disclosure required to made pursuant to said provisions are not applicable to the company

Companys policy on directors appointment and remuneration:

Being a Private Limited company section 178 relating to Nomination and Remuneration committee is not applicable to the company.

Particulars of loans, guarantees or investments

During the year under review, the company has not given any loans or made any guarantees or investments covered under Section 186 of the Companies Act, 2013.

Auditors

Statutory auditors

At the Extra Ordinary General Meeting held on 11-07-2022, M/s. Pushpendra Gupta And Associates, Chartered Accountants, Ahmedabad were appointed as Statutory auditors of the Company to hold office till the conclusion of the Annual General Meeting to be held in the calendar year 2024. In terms of the provisions of the Companies (Amendment) Act, 2017, the term of the auditors does not require ratification every year. In this regard, the Company has received a certificate from the auditors of eligibility in accordance with Sections 139, 141 and other applicable provisions of the Companies Act, 2013 and Rules issued there under.

The Notes to Accounts referred to in the Auditors Report are self-explanatory and therefore do not call for any further comments. The Auditors report does not contain any qualification, reservation or adverse remark.

Instances of fraud, if anv reported by the auditors

There have been no instances of any fraud reported by the statutory auditors under section 143(12) of Companies Act 2013.

Cost Audit

The provisions of section 148 are not applicable to the company.

Share Capital:

During the year under review, the paid-up share Capital of the Company remains intact to Rs. 4,00,00,000 divided into 40,00,000 Equity Shares of Rs.10/- each and thus there is no change in the share capital of the company.

Material changes and commitments affecting financial position between the end of the financial year and date of report

There were no such changes during the year.

Subsidiaries, joint ventures or associate companies

The Company does not have any Subsidiary, Joint venture or Associate Company.

Disclosure under Sexual Harassment of Women at Workplace

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. All employees (permanent, contractual, temporary, trainees] are covered under this policy.

The following is a summary of sexual harassment complaints received and disposed off during the year 2022-23:

No. of complaints received : NIL No of complaints disposed off: NIL

Conservation of energy

In the opinion of the directors there is no need to take any measure in this regard. The company does not have any proposal for additional investment in this regard. The details of energy consumption are not required to be given.

Technology absorption

i. The efforts made towards technology absorption: No

ii. The benefits derived like product improvement, cost reduction, product development or import substitution: Nil

iii. In case of imported technology (imported during the last three years reckoned from the beginning of the financial year]- Nil

1. the details of technology imported

2. the year of import;

3. whether the technology been fully absorbed;

4. if not fully absorbed, areas where absorption has not taken place, and the reasons thereof; and

iv. The expenditure incurred on Research and development (R & D]: NIL

Foreign Exchange Earnings & Outgo

Particulars	Current Financial Year		Previous Financial Year
	In USD	InINR	In USD	InINR
Earnings	6.92	557.98	1.29	83.19
Expenditure	1.05	91.91	4.30	278.27

Acknowledgement

Your Directors would like to express their sincere appreciation for the assistance and co-operation received from the financial institutions, Government Authorities, customers, vendors and members during the year under review. Your directors also wish to place on record their deep sense of appreciation for the committed services by the Companys executives, staff and workers.