Dynamic Cables Ltd Directors Report.


The Members of Dynamic Cables Limited,

Your directors are pleased to present the 14th Annual Report on the business and operations of the Company together with the Audited Financial Statements for the financial year ended on March 31,2021.


The Companys financial performance for the financial year ended on March 31,2021 is summarized below:

(Rs. in lakhs)

Particulars Year ended March 31,2021 Year ended March 31,2020
Revenue from Operations 34,266.20 42,859.01
Other Income 801.45 295.46
Total Income 35,067.65 43,154.47
Profit before Interest and Depreciation 3,364.25 4,798.18
Finance Cost 1,188.91 1,535.86
Depreciation 836.87 880.06
Profit before Tax 1,338.47 2,382.26
Income Tax Expenses 353.97 559.57
Profit after Tax 984.50 1,822.69
Earning Per Share
Basic (in INR) 4.47 8.28
Diluted (in INR) 4.47 8.28


The impact of pandemic started in March 2020 with Governments announcing lockdown across the world to control the spread of the virus. This was followed by restricted easing of services across different countries to be followed by further rounds of lockdowns (including localised lockdowns) initiated across different countries. There was also positive news in the latter half of the year with vaccine approvals and launch of vaccination drives in several countries.

With the wholehearted support from all our employees, suppliers and other stakeholders, we managed to serve our domestic as well as international customers and ensured growth in our business. Measures on continuous engagement with our employees facilitated us in safeguarding our workforce and their family members from the Covid-19 impact. We, at the Board level, are very appreciative of the support offered by the team and their family members. Without their commitment and support, we would not have been able to successfully adapt the newer ways of working during the year. We are cautious and yet hopeful, that our efforts in this direction will help us in managing the safety of all our relevant stakeholders and serve our customers with limited disruption.

During this period, we were able to streamline our operations successfully. There were also additional growth opportunities due to our organized supply chain and we were able to leverage on the opportunity to increase our presence over competition.


During the financial year 2020-21, your Company has achieved total revenue of Rs. 34266.20 lakhs as compared to Rs. 42859.01 lakhs in previous financial year with a decrease of 20.05% and Net Profit after tax (PAT) has decreased from Rs.l 822.69 lakhs to Rs.984.50 lakhs with a decrease of 45.97%.

Financial Highlights:

• Revenue growth during H2FY21 was 2.6% against PI2FY20

• Ebitda margins improved from 7.2% in H2FY20 to 7.6% in H2FY21

• Ebitda margins improved from 6.5% in Q3FY21 to 8.3% in Q4FY21

• Finance cost during FY21 decreased to Rs.l 1.9crs in FY21 as compared to Rs.l 5.3crs in FY20

• Debtors decreased from Rs.150.3crs in FY20 to 127.7crs in FY21

• Receivable days (calculated on H2 gross sales) decreased from 106 days in FY20 to 86 days in FY21

• Debt:

Particulars (Rs. In Crs) FY21 FY20
Term Loan from Bank/FIs 32.3 32.0
Other Loans 8.5 20.6
Working Capital Loans 76.8 69.6
LC Creditors 15.7 27.4
Total Debt 133.3 149.6


• There are green shoots of pent-up demand flowing in as Covid receded, as states begun easing pandemic-related curbs. Need for accelerated investment in power distribution infrastructure, improving financial health of State Discoms and growing privatization of power distribution set-ups are certain significant tailwinds for a long term growth runway for the sector.

• Dynamic Cables is strongly positioned to capture higher share of this growth along with being selective in the quality of business it chooses to do.

• Given the focus on improving operating efficiencies & increasing productivity, Dynamic will strive on increasing its operating margins

• Dynamic Cables has also developed other business segments and will continue to expand competencies around its core products and markets.

• The year was marked by profound disruption on account of COVID-19 pandemic which has not benefitted the company financially. Gradual unlocking from June showcased progressive signs of improvement as the restriction in movement ease, Levering favourable trends after Pandemic, we believe Indian economy is likely to pivot post pandemic with a strong mix of structural growth drivers catalysing medium to long-term growth.

Growth strategy:


During the year under review there was no change in the capital structure of the company. Paid up Equity Share Capital as on March 31,2021 is Rs. 220,140,000


The company does not have any Subsidiary/Associate company.


The Company does not propose to transfer any amount to the General Reserve for the financial year ended on March 31, 2021.


The company always strives to maintain a balance by providing an appropriate return to the Shareholders while simultaneously retaining a reasonable portion of the profit to maintain healthy financial leverage with a view to support and fund the future expansion plans.

The company has recommended a final dividend of Rs. 0.25/- (2.5%) per equity share for the financial year 2020-21 and the same is subject to the approval of shareholders at the ensuing 14th Annual General Meeting of the company. The total final dividend pay-out will be Rs. 55.035 lakhs (excl.TDS). The Register of Members and Share Transfer Books will remain closed from Tuesday, August 31,2021 to Monday, September 06, 2021 i.e. for seven days (both days inclusive) for the purpose of payment of the dividend for the financial year ended March 31,2021


During the financial year, there were no funds which were required to be transferred to Investor Education and Protection Fund (IEPF). Any amount unclaimed for seven years is liable to be transferred to IEPF and accordingly shareholders are advised to claim their unclaimed dividend.

Further, shares on which dividend remain unclaimed for seven consecutive years are also liable to be transferred to IEPF


In pursuance to Section 134(3) (I) of the Companies Act, 2013 ("the Act") No material changes and commitments have occurred after the end of the financial year to which the financial statements relate till the date of this report, affecting the financial position of the company. The COVID-19 pandemic extending into the second year has resulted in changes in consumer behaviours, impacting demand in various industries, hurting small businesses and necessitating large fiscal interventions. Tapering off of these interventions or the emergence of new variants which trigger new lockdowns and other restrictions could disrupt the return to normalcy and impact customers short-term priorities, growth plans and discretionary budgets. It could also result in restructuring of some contracts, deferment, cancellation of some planned engagements besides other tactical steps such as vendor rationalization, or insourcing of work to captives, impacting the companys revenue growth.

Flowever, the companys relative competitiveness is expected to increase because of its traditional value focus and its strong track record in helping its customers improve the efficiency and resilience of their business and operations through digital transformation initiatives.


In pursuance to Rule 8 (5) (vii) of the Companies (Accounts) Rules, 2014, No significant or material orders were passed by the Regulators or Courts or Tribunals impacting the going concern status and companys operations in future.


Loans, guarantees and investments covered under Section 186 of the Act, form part of the Notes to the financial statements provided in this Annual Report.


During the financial year 2020-21, on the basis of recent development including operational and financial performance of the Company, Credit Rating Agency - Brickwork Ratings India Pvt. Ltd. has reaffirmed stable rating as follows:

Facilities Rating
Fund Based (Long Term) BWR BBB
Fund Based (Short Term) BWR A3+
Non Fund Based (Short Term) BWR A3+


Pursuant to the provisions of section 188 of the Act read with rules issued thereunder and Regulation 23 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations") there were no material significant transactions with related party during the financial year which were in conflict with the interest of the company.

All related party transactions were placed before the Audit Committee on quarterly basis, specifying the nature, value and terms and conditions of the same. The Company has made transactions with related parties pursuant to section 188 of the Act. The particulars of material contracts or arrangements with related parties referred to in sub-section (1) of section 188 of the Act in the Form AOC-2 is annexed herewith as Annexure - A.

The Company has formulated a policy on materiality of related party transactions and also on dealing with related party transactions which has been uploaded on the Companys website at https://www.dynamiccables.co.in/Policy-on-Related-Party-Transactions.pdf


Four meetings of the Board were held during the year. For details of meetings of the Board, please refer to the Corporate Governance Report, which is a part of this report.

15. Directors & Key Managerial Personnel

a) Directors

During the year under review, the following changes occurred in the Board of Directors of the company:

i. Ms. Nehal Sharma was appointed as Additional Director (Independent) with effect from July 18, 2020.

ii. Ms. Nehal Sharma was further appointed as an Independent Director in previous AGM held on September 30, 2020,for a period of 5 (Five) years commencing from July 18, 2020.

iii. Mr. Rahul Mangal, Director of the company retired by rotation and re-appointed in previous AGM.

iv. In accordance with the provisions of the Act and the Articles of Association of the Company, Mrs. Shalu Mangal, Whole time Director of the Company is liable to retire by rotation at the ensuing Annual General Meeting and being eligible, has offered herself for re-appointment. The Board of Directors has recommended re-appointment of Mrs. Shalu Mangal.

v. Mr. Sumer Singh Punia was appointed as an Additional Director (Non-Executive) with effect from February 13, 2021 and proposed to appoint him as Director at the ensuing AGM. The Board of Directors has recommends his appointment to the shareholders.

vi. Necessary resolutions for the re-appointment of aforesaid director, wherever applicable, have been incorporated in the notice convening the ensuing AGM. As required under the regulations and Secretarial Standards on General Meetings issued by ICSI, the relevant details of director retiring by rotation and/or seeking reappointment at the ensuing AGM are furnished at "Annexure - 1 "to the notice of AGM.

b) Key Managerial Personnel (KMPs)

During the year under review, there is no change in the Key Managerial Personnel (KMPs) of the Company.


The Company has received necessary declaration from each independent director under Section 149(7) of the Act that he / she meets the criteria of independence laid down in Section 149(6) of the Act and Regulation 25 of the Listing Regulations. All Independent Directors of the company are also registered in Independent Director Database of Indian Institue of Corporate Affairs for Independent Directors.

There has been no change in the circumstances affecting their status as Independent Director of the company so as to qualify themselves to be appointed as Independent Director under the provisions of the Act and listing regulations.


The Board of Directors has carried out an annual evaluation of its own performance, board committees, and individual directors pursuant to the provisions of the Act and listing regulations.

The performance of the board was evaluated by the Board after seeking inputs from all the directors on the basis of criteria such as the board composition and structure, effectiveness of board processes, information and functioning, etc.

The performance of the committees was evaluated by the Board after seeking inputs from the committee members on the basis of criteria such as the composition of committees, effectiveness of committee meetings, etc. The above criteria are broadly based on the Guidance Note on Board Evaluation issued by the Securities and Exchange Board of India on January 5, 2017.

In a separate meeting of independent directors, performance of non-independent directors, the Board as a whole and Chairman of the Company was evaluated, taking into account the views of executive directors and non-executive directors.

The Board and the Nomination and Remuneration Committee reviewed the performance of individual directors on the basis of criteria such as the contribution of the individual director to the board and committee meetings like preparedness on the issues to be discussed, meaningful and constructive contribution and inputs in meetings, etc.

At the board meeting that followed the meeting of the independent directors and meeting of Nomination and Remuneration Committee, the performance of the Board, its Committees, and individual directors was also discussed. Performance evaluation of independent directors was done by the entire Board, excluding the independent director being evaluated.


In compliance with the requirements of the Act and the listing regulations, the Company has put in place a familiarization programme for the Independent Directors to familiarize them with their role, rights, and responsibility as Directors, the working of the Company, nature of the industry in which the Company operates, business model etc. The details of such familiarization programmes imparted to Independent Directors are posted on the website of the Company at



(a) Statutory Auditors

M/s. Madhukar Garg & Company, Chartered Accountants (FRN: 000866C) the Statutory Auditors of the Company were appointed at 11th Annual General Meeting (AGM) of the Company held on 30th September, 2018 for a period of five years. The Statutory Auditors have confirmed their eligibility under Section 141 of the Act.

As per the provisions of Section 40 of the Companies (Amendment) Act, 2017, there is no requirement for ratification of appointment of statutory auditor at every AGM of the Company and therefore, it is not required to ratify the appointment every year. The Auditors Report for the financial year 2020-21 doesnt contain any reservation, qualification or adverse remark. During the financial year 2020-21, no fraud was reported by the Statutory Auditor of the Company in their Audit Report.

(b) Secretarial Auditor

Pursuant to provisions of Section 204 of the Act and rules made there under, M/s. V. M. & Associates, Company Secretaries (FRN PI984RJ039200) was appointed as Secretarial Auditors to conduct the secretarial audit of the Company for the financial year 2020-21.

An Audit Report issued in form MR-3 by M/s V.M. & Associates, Company Secretaries, in respect of the secretarial audit of the Company for the financial year ended March 31,2021, is annexed herewith and marked as Annexure - B to this Report. The report doesnt contain any reservation, qualification or adverse remark except, that the company has not depostited the amount of dividend within 5 days in a separate bank account as prescribed under section 123 of the Act.

Boards Explanation for non deposting the amount of dividend within 5 days in a seperate bank account as prescribed under section 123 of the Act.

Due to the impact of Covid-19 Pandemic and restricted banking operations the company was not able to deposite the amount of dividend within 5 days in a seperate bank account as prescribed under section 123 of the Act.

The Company had received consent from M/s V. M. ^Associates to act as Secretarial Auditor for conducting audit of the secretarial records for the financial year ending March 31, 2022.Further, the Board has also re-appointed V. M. &Associates, (FRN: PI 984RJ039200) Company Secretaries in Practice, Jaipur as Secretarial Auditor of the Company to conduct secretarial audit for the Financial Year 2021-22. They have confirmed their eligibility for the said appointment.

During the financial year 2020-21, no fraud was reported by the Secretarial Auditor of the Company in their Audit Report.

(c) Cost Auditor

In accordance with the provisions of Section 148 of the Act read with Companies (Cost Records and Audit) Rules, 2014 as amended from time to time, your company had appointed M/s Maharwal & Associates (FRN: 101556) as cost auditors for the financial year 2020-21.

The Company has received Cost Audit Report on the cost accounts of the Company for the financial year ended on March 31,2021 and the same will be filed with Ministry of Corporate Affairs (MCA) within the prescribed time limit provided under the Act and rules made there under.

The Board has re-appointed M/s Maharwal & Associates (FRN: 101556) as Cost Auditor to conduct the audit of cost records of your Company for the financial year 2021-22. The payment of remuneration to Cost Auditor requires the ratification of the members of the Company and necessary resolution in this regard, has been included in the notice convening 14th AGM of the Company. During the financial year 2020-21, no fraud was reported by the Cost Auditor of the Company in their Audit Report.

(d) internal Auditor

In accordance with the provisions of Section 138 of the Act and rules made thereunder, the Board of Directors of the Company has appointed M/s Ritul Patwa& Company, Chartered Accountants (FRN 017878C) as an Internal Auditor to conduct the Internal Audit of the Company for the Financial Year 2020-21.

In compliance with the aforesaid requirements, the board has re-appointed M/s Ritul Patwa & Company as internal auditor to conduct the Internal Audit of the Company for the Financial Year 2021-22.The Company had received consent from M/s Ritul Patwa & Company, Chartered Accountant (FRN 017878C) to conduct internal audit of the company for the financial year ending March 31,2022.Further, the Board has also re-appointed M/s Ritul Patwa & Company, Chartered Accountant (FRN 017878C) as Internal Auditor of the Company for the Financial Year 2021-22. They have confirmed their eligibility for the said appointment.


Pursuant to the provisions of the Securities and Exchange Board of India (Prohibition of Insider Trading Regulations, 2015 and amendments thereto, the company has in place a code of conduct to regulate, monitor and report trading by Insiders for prevention of Insider trading in the shares of the company. The code, inter-alia prohibits purchase/sale of shares of the company by Employees/ KMPs/ Designated Persons and other connected persons while in possession of Unpublished Price Sensitive Information in relation to the company and during the period when the trading window is closed. The code is available on the Companys website at https://www.dynamiccables.co.in/CODE-OF%20PRACTICES-AND-PROCEDURES-FOR-FAIR-DISCLOSURE-OF-UPSI.pdf


The Company has established a mechanism for directors and employees to report concerns about unethical behavior, actual or suspected fraud, or violation of the Code. It also provides for adequate safeguards against the victimization of employees who avail the mechanism, and allows direct access to the chairperson of the audit committee in exceptional cases. During the year no person was denied access to the audit committee. The policy provides systematic mechanism to report the concerns and adequate safeguards against the victimization if any. The policy is available on the website of the Company i.e. https://www.dynamiccables.co.in/whistle-blower-policy.pdf


The brief outline of the corporate social responsibility (CSR) policy of the Company and the initiatives undertaken by the Company on CSR activities during the year are set out in Annexure C of this report in the format prescribed in the Companies (Corporate Social Responsibility Policy) Rules, 2014. For other details regarding the CSR Committee, please refer to the Corporate Governance Report, which is a part of this report. This Policy is available on the Companys website on https://www.dynamiccables.co.in/CSR-Policy.pdf


The Company has framed and implemented a Risk Management Policy to identify the various business risks. This framework seeks to create transparency, minimize adverse impact on the business objectives and enhance the Companys competitive advantage. The Risk Management Policy defines the risk management approach across the enterprise at various levels including documentation and reporting.

There are various elements of risk which, in the opinion of the Board, may threaten the existence of the company some of which are as follows:

• Economic Environment and Market conditions • Political Environment
• Competition • Fluctuations in Foreign Exchange
• Contractual Compliance •Operational Efficiency

All the Senior Executives under the guidance of the Chairman and Board of Directors has the responsibility for over viewing managements processes and results in identifying, assessing and monitoring risk associated with Organizations business operations and the implementation and maintenance of policies and control procedures to give adequate protection against key risk. In doing so, the Senior Executive considers and assesses the appropriateness and effectiveness of management information and other systems of internal control, encompassing review of any external agency in this regards and action taken or proposed resulting from those reports.


In terms of the provisions of the Sexual Harassment of Women at the workplace (Prevention, Prohibition and Redressal) Act, 2018, the Company has adopted a policy for prevention of Sexual Harassment of Women at workplace and also set up an Internal Complaints Committee to look into complaints relating to sexual harassment at work place of any women employee. The following is a summary of sexual harassment complaints received and disposed of during the year 2020-21

• No. of complaints received: Nil

• No. of complaints disposed off: Nil


In accordance with the Act the annual return of the company in the prescribed format is available on the website of the company at https://www.dynamiccables.co.in/annual-return.pdf


During the year under review, your company has neither invited nor accepted or renewed any fixed deposit from public in terms of provisions of section 73 to 76 of the Act read with the Companies (Acceptance of Deposits) Rules, 2014.Please refer Note No. 15 &41 of financial statement pursuant to Rule 2(1) (c) (viii) of the Companies (Acceptance of Deposits) Rules, 2014 for borrowings from directors.


The Board has adopted policies and procedures for ensuring the orderly and efficient conduct of its business, including adherence to the Companys policies, safeguarding of its assets, prevention and detection of fraud, error reporting mechanisms, accuracy and completeness of the accounting records, and timely preparation of reliable financial disclosures. For more details, refer to the ‘Internal control systems and their adequacy section in Managements discussion and analysis, which forms part of this Annual Report. During the financial year under review, the Statutory Auditor in their Report on the Internal Financial Control with reference to financial statements for the financial year 2020-21 has given unmodified report.

Based on the framework of internal financial controls and compliance systems established and maintained by the Company, the work performed by the internal, statutory and secretarial auditors and external consultants, including the audit of internal financial controls over financial reporting by the statutory auditors and the reviews performed by management and the relevant board committees, including the audit committee, the Board is of the opinion that the Companys internal financial controls were adequate and effective during the year under review.


Your company continuously strives to conserve energy, adopt environment friendly practices and employ technology for more efficient operations.

The particulars relating to the Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo pursuant to Section 134 of the Act read with rules made thereunder is annexed herewith and marked as Annexure - D to this report.


In accordance with the provisions of section 178 of the Act, the Company has Nomination and Remuneration Policy in place and the same is available on the Companys website on https://www.dynamiccables.co.in/nomination-&-remuneration-policy.pdf


The Companys policy on appointment of directors is available on the Companys website at


The policy on remuneration and other matters provided in Section 178(3) of the Act has been disclosed in the Corporate Governance Report, which is a part of this report and is also available on the Companys website at https://www.dynamiccables.co.in/nomination-&-remuneration-policy.pdf


We seek to promote and follow the highest level of ethical standards in all our business transactions guided by our value system. The SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) mandate the formulation of certain policies for all listed companies.

The corporate governance policies are available on the Companys website, at https://www.dynamiccables.co.in/policies-codes.html The policies are reviewed periodically by the Board and updated as needed. During the year the Board revised and adopted some of its policies.


The information under Section 197 of the Act read with Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014:

(i) The ratio of the remuneration of each director to the median remuneration of the employees of the Company and percentage increase in remuneration of each Director, Chief Financial Officer and Company Secretary in the financial year:

Name Ratio to median remuneration % increase in remuneration in financial year
Non- Executive Directors:
Rahul Mangal - -
Sumer Singh Punia - -
Nehal Sharma* - -
Ashok Kumar Bhargava* - -
Saurav Gupta* - -
Executive Director:
Ashish Mangal 89.69 0
Shalu Mangal 38.12 0
Chief Financial Officer:
Murari Lai Poddar 13.55 -0.01
Company Secretary:
Honey Chordia 3.78 -0.02

*No remuneration paid except, payment of eligible sitting fees.

(ii) The percentage increase in the median remuneration of employees in the financial year is (0.04)%

(iii) The total number of permanent employees on the rolls of company: 552

(iv) Average percentile increase already made in the salaries of employees other than the managerial personnel in the last financial year and its comparison with the percentile increase in the managerial remuneration and justification thereof and point out if there are any exceptional circumstances for increase in the managerial remuneration:

- Average increase in the remuneration of all employees excluding KMP is (7.10)%

- Average increase in the remuneration of KMP is (0.01)%.

- Increase in salary is based on the Companys performance, individual performance, inflation, prevailing industry trends and benchmarks.

(v) It is hereby affirmed that the remuneration is as per the remuneration policy of the Company.

(vi) The statement containing particulars of employees as required under rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the statement showing the names of the top 10 employees in terms of remuneration drawn during the year is given herein below:

S. No Name of Employee Designation Remuneration (Rs. in Lakhs) Nature of employment (contractual or otherwise) Qualification Experience (in yrs.) Date of commencement of employment Age Last employment held by such employee before joining the company Whether Relative of the Director, if yes name of the Director Percentage of equity shares held by the employee in the Company
1 Mr. Ashish Mangal Managing Director 120 Contractual B.Com 25 03.04.2007 45 Own Business Husband of Mrs. Shalu Mangal 34.89
2 Mrs. Shalu Mangal Whole time director 51 Contractual MBA 13 22.07.2017 41 Own Business Wife of Mr. Ashish Mangal 0.10
3 Mr. Murari Lai Poddar CFO 18.16 Onroll Employee CA 22 14.06.2003 48 Wires & Fabrics (S.A) Ltd. - -
4 Mr. Manavalan Srinivasan Vice President 16.90 Onroll Employee Graduate (Economics) 32 06.02.2018 60 Diamond Power Infrastructure Ltd. - -
5 Mr. Pijus Mandal General Manager (Production) 16.45 Onroll Employee PG in BSM, BE (ECS) 23 25.04.2020 48 Sterlite Power Transmission - -
6 Mr. Hamath Singh Bhati General Manager (Maintenance) 13.54 Onroll Employee Dip in Mech. Engg 19 01.10.2019 53 Dynamic Metals - -
7 Mr.Ashok Kumar Sharma Assistant Vice president 13.29 Onroll Employee B.E, MBA 17 01.04.2016 54 Krishna Electricals Industries Ltd. - *
8 Mr. Vijaya Shankara NS Vice President 12.51 Onroll Employee B.Sc (Mathematics) 43 13.08.2018 66 Diamond Power Infrastructure Ltd. - -
9 Ms. Aditi Mangal Manager (Human Resource) 12.00 Onroll Employee Bsc in Psychology 2 02.05.2019 21 Daughter of Mr. Ashish Mangal & Mrs. Shalu Mangal 0.01
10 Mr. Ravi Janrao Tayade Assistant General Manager 11.51 Onroll Employee Diploma in Ind. Electronics 22 02.08.2017 46 Hind Aluminum Ltd. - -


The Management Discussion and Analysis Report forming part of this report is annexed herewith and marked as Annexure - E.


The Company has complied with the requirements of corporate governance as stipulated under the listing regulations. The corporate governance report and certificate from practicing Company Secretary confirming compliance of conditions as required by Regulation 34(3) read with Part E of Schedule V of the listing regulations, form part of the Boards Report.


Your Companys shares are listed at BSE Limited and the annual listing fees for the year 2021-22 have been duly paid.


The Institute of Company Secretaries of India, a statutory body, has issued Secretarial Standards (SS) on various aspects of corporate law and practices. The Company has complied with all the applicable Secretarial Standards issued by the Institute of Company Secretaries of India.


Pursuant to Section 134(5) of the Act the Board of Directors, to the best of its knowledge and ability, confirm that:

i. in the preparation of the annual accounts, the applicable accounting standards have been followed and there are no material departures:

ii. they 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 the financial year and of the profit of the Company for that period:

iii. they 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. they have prepared the annual accounts on a going concern basis;

v. they have laid down internal financial controls to be followed by the Company and such internal financial controls are adequate and operating effectively;

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


During the period under review there is no other disclosure required to be reported by the Board.


We thank our shareholders, customers, vendors, investors, bankers, employee volunteers for their continued support during the year. We place on record our appreciation of the contribution made by our employees at all levels. Our consistent growth was made possible by their hard work, solidarity, cooperation and support. We thank the governments of various countries where we have our operations. We thank the Government of India, the Ministry of Railways, the Ministry of Commerce and Industry, the Ministry of Finance, the Ministry of Corporate Affairs, the Central Board of Direct Taxes, the Central Board of Indirect Taxes and Customs, GST authorities, the Reserve Bank of India, Securities and Exchange Board of India (SEBI), various departments under the state governments and other government agencies for their support, and look forward to their continued support in the future.

Place: Jaipur For and on behalf of the Board of Directors
Date: August 08, 2021 For Dynamic Cables Limited
Rahul Mangal
(DIN: 01591411)
Registered Office:
F-260, Road No. 13, VKI Area, Jaipur 302013