Dhaval Packaging Ltd Directors Report

To,

The Members,

The Directors have pleasure in presenting the ANNUAL_REPORT along with the Audited Statements of Accounts for the year ended 31st March, 2021.

	As on 31st	As on 31st
PARTICULARS	March,2022	March,2021
Turnover & Other Income	334,583,159	229,037,098
Total Expenditure	332,670,382	223,396,119
Profit/(Loss) before Tax	1,912,777	5,640,979
Provision For Income Tax	300,000	928,453
Income Tax Payable	-
Deferred Tax (Assets)/ Liabilities	(42,770)	451,050
Balance B/f. from previous year	86,627	(4,174,850)
Balance carried to Reserves & Surplus	1,728,871	86,627
DIVIDEND :

The Company decided not to declare dividend.

RESERVES:

The Board proposes not to carry any amount to reserves.

STATE OF COMPANYS AFFAIR:

The company expects that it will explore the business the forthcoming years.

NATURE OF BUSINESS:

There is no change in nature of business of company during the current financial year.

MATERIAL CHANGES AND COMMITMENTS:

There are no material changes and commitments which may affect the financial position of the company occurred between the end of financial year of the company to which financial statements relate and the date of report.

ORDERS PASSED BY THE AUTHORITIES:

There are no significant and material orders passed by the regulators or courts or tribunals impacting the going concern status and companys operations in future.

DETAILS OF SUBSIDIARY/JOINT VENTUTES/ASSOCIATE COMPANIES:

The Company has no subsidiary/joint ventures/associate companies.

DEPOSITS:

The Company has not accepted deposits covered under Chapter-V of Companies Act, 2013.

BOARD MEETING :

The Board Meeting was convened 4 times during the Financial Year 2020 - 2021 for the business matters.

AUDIT COMMITTEE :

The provision of Section 177 of Audit Committee is not applicable to the company

STATUTORY AUDITORS:

JAY M SHAH , Chartered Accountant, Auditors of the Company hold office until the conclusion of the ensuing Annual General Meeting and are eligible for re-appointment.

SHARE CAPITAL :

A) Companys Board of Directors has not issued any share with differential rights. B) Companys Board of Directors has not issued any sweat equity shares.

C) Companys Board of Directors has not issued any employee stock options .

D) Companys Board of Directors has not made any provision of money for purchase of its own shares by employees or by trustees for the benefit of employees.

EXTRACT OF ANNUAL RETURN:

The extract of the annual return in Form No. MGT–9 is attached with Boards report.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO: Conservation of Energy:

The Company has no activity relating to conservation of energy during the year.

Technology Absorption:

The Company has no activity relating to absorption of technology during the year.

Foreign Exchange Earnings and Outgo:

Earning in
Foreign
Currency	Rs. 2,249,042 Export Sales
Outgo in
Foreign
Currency	Rs. 25,960,176 Purcahse Cost of Goods

CORPORATE SOCIAL RESPONSIBILITY (CSR):

The provisions of corporate social responsibility are not applicable to the company.

DIRECTORS:

Changes in Directors and Key managerial Personnel:

There are no changes in directors or key managerial personnel by way of appointment, re-designation, resignation, death or disqualification, variation made or withdrawn etc.

PARTICULARS OF LOAN, GUARANTEES OR INVESTMENTS UNDER SECTION 186:

The Company has not granted any loan, guarantee or made investments as per the section 186 of the Act.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:

Company has not undertaken any contracts or arrangements with related parties.

PARTICULARS OF EMPLOYEES

There is no employee receiving remuneration exceeding the limits as prescribed in The Companies Act 2013. Therefore there is no need to give any information under this clause.

RISK MANAGEMENT POLICY:

A statement indicating development and implementation of a risk management policy for the Company including identification therein of elements of risk, if any, which in the opinion of the Board may threaten the existence of the of the company is attached herewith.

DIRECTORS RESPONSIBILITY STATEMENT :

The Directors Responsibility Statement referred to in clause (c) of sub-section (3) of Section 134 of the Companies Act, 2013, shall state that—A) In the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures; B) The directors had 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 the financial year and of the profit and loss of the company for that period.

C) The directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding assets of the company and for preventing and detecting fraud and other irregularities.

D) The directors had prepared the annual accounts on a going concern basis.

E) The directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

ACKNOWLEDGEMENT :

Your Directors would like to express their grateful appreciation for the assistance and co-operation received from the shareholders, clients and financial institutions and bank during the year under review.