To, The Members,
GOPAL IRON & STEEL COMPANY (GUJARAT) LIMITED
Your Directors have pleasure in presenting their Twenty Ninth Annual
Report on the business and operations of the Company and the accounts for the Financial
Year ended March 31, 2023.
1. FINANCIAL SUMMERY:
The summarized Audited Standalone Financial Performance of your Company
for the Financial Year 2022-23 and the previous Financial Year 2021-22 is tabled below:
(Amount in Lakhs)
| PARTICULARS |
2022-23 |
2021-22 |
| Revenue from Operations |
109.71 |
13.37 |
| Other income |
17.80 |
0 |
| Total Income |
127.51 |
13.37 |
| Profit/loss before Depreciation, |
13.29 |
-16.26 |
| Finance Costs, Exceptional items and |
|
|
| Tax Expense |
|
|
| Less: Depreciation |
0 |
0 |
| Profit/loss before Finance Costs, |
13.29 |
-16.26 |
| Exceptional items and Tax Expense |
|
|
| Less: Finance Cost |
0 |
0.40 |
| Profit/loss before Exceptional items |
|
|
|
13.29 |
-16.67 |
| and Tax Expense |
|
|
| Less: Exceptional Items |
- |
- |
| Profit / (Loss) Before Tax |
13.29 |
-16.67 |
| Provision for Tax & Deferred Tax |
- |
- |
| Profit / (Loss) After Tax |
13.29 |
-16.67 |
| Other Comprehensive income (net of |
0 |
0 |
| tax effect) |
|
|
| Total Comprehensive income |
13.29 |
-16.67 |
2. PERFORMANCE EVALUATION:
Total Turnover of the Company during the financial year 2022-23 was Rs.
127.51 Lakhs which was higher by as compared to Total Turnover of immediately
preceding financial year 2021-22. Despite the difficult external environment the company
will strive to improve its performance in long term prospects based on actual pace of
global economy and is hopeful to achieve growth in upcoming years.
3. STATE OF AFFAIRS OF THE COMPANY:
Gopal Iron and Steels Company (Gujarat) Limited (the company) is a
public company domiciled in India and incorporated under the provisions of the Companies
Act, 1956. Its shares are listed on Bombay Stock Exchange in India. The company is engaged
in the manufacturing of SS/MS bars, MS Sections, ERW Pipes and other iron and steel items.
The company caters domestic market.
? SEGMENT-WISE POSITION OF BUSINESS AND ITS OPERATIONS: The
Company is currently engaged in only one business i.e. SS/MS bars, MS Sections, ERW Pipes
and other iron and steel items. Accordingly there is no segments of business activity of
the Company
? CHANGE IN STATUS OF THE COMPANY: The status of the company has
not been changed during the financial year 2022-23.
? CHANGE IN THE FINANCIAL YEAR: The Company has not changed its
financial year during the year.
? CAPITAL EXPENDITURE PROGRAMMES: Not Applicable
? DETAILS AND STATUS OF ACQUISITION, MERGER, EXPANSION MODERNIZATION
AND DIVERSIFICATION: Not Applicable
? DEVELOPMENTS, ACQUISITION AND ASSIGNMENT OF MATERIAL INTELLECTUAL
PROPERTY RIGHTS: Not Applicable
? ANY OTHER MATERIAL EVENT HAVING AN IMPACT ON THE AFFAIRS OF THE
COMPANY:.Not Applicable
No material events have occurred during the financial year 2022-23
which impact on the affairs of the Company.
4. DIVIDEND:
Due to accumulated losses in the Company, the directors did not
recommend any Dividend for the Financial Year 2022-23 under review.
5. THE AMOUNTS, IF ANY, WHICH IT PROPOSES TO CARRY TO ANY
RESERVES;
Due to loss in the current financial year 2022-23, the company is not
required to transfer any amount to Reserves account.
6. DIRECTORS AND KEY MANAGERIAL PERSONNEL:
Your Company is having dynamic, qualified, experienced, committed and
versatile professionals in the Management of the Company. The Composition of Board of
Director during the financial year 2022-23 under review is as follows:
| NAME OF KEY MANAGERIAL PERSONNEL |
DESIGNATION |
| MRS. KUNDANBEN PATEL* |
MANAGING DIRECTOR |
| MR. PRABHUBHAI PATEL |
DIRECTOR |
| MR. MUKESH JANI |
INDEPENDENT DIRECTOR |
| MR. RAKESHKUMAR MOGHARIYA |
INDEPENDENT DIRECTOR |
| MR. PRAFFUL BURAD |
INDEPENDENT DIRECTOR |
| MR. BALDEVBHAI GOPALBHAI PATEL |
CHIEF FINANCIAL OFFICER |
| MS. DHRUVI RAMESHBHAI PATEL** |
COMPANY SECRETARY AND COMPLIANCE OFFICER |
The Board of Directors of your Company are fully committed to steering
the organization for long-term success through setting of strategies, delegating
responsibilities and providing an overall direction to the business, while effectively
managing risks and ensuring high quality of governance by keeping the Company on the path
of Sustainable growth and development.
**MS. DHRUVI RAMESHBHAI PATEL Resigned as a company secretary and
compliance officer of the company w.e.f. 16th March, 2023.
*In accordance with the provisions of Section 152(6) of the Companies
Act, 2013 and in terms of the Memorandum and Articles of Association of the Company, Mrs.
KUNDANBEN BHAVESHBHAI PATEL(DIN: 03063504), Directorof the Company retires by rotation at
this ensuing Annual General Meeting and has offered herself for reappointment.
Mr. Arvind Kumar Baid (DIN: 06579226) has been appointed as an
Additional Non-executive Non Independent director of the company w.e.f. 10.08.2023 to hold
office upto this AGM i.e. after closure of financial year 2022-23 but before Annual
General Meeting of the company for the financial year 2022-23. Accordingly, his
appointment as a director is proposed to be considering in the upcoming AGM.
Further, all the Directors of the Company have confirmed that they are
not disqualified from being appointed as Directors in terms of Section 164 of the
Companies Act, 2013.
During the year under review, the non-executive directors of the
Company had no pecuniary relationship or transactions with the Company, other than sitting
fees, commission and reimbursement of expenses incurred by them for the purpose of
attending meetings of the Board/Committee of the Company.
The Company has received declarations from all the Independent Director
of the Company confirming that they meet with the criteria of independence as prescribed
under sub-section 6 of Section 149 of the Companies Act, 2013 and under Regulation 16 (b)
of SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015 and complied
with the Code for Independent Directors prescribed in Schedule IV to the Act.
7. MEETINGS:
During the year Seven (7) Board Meetings and Four (4) Audit Committee
Meetings were convened and held. The dates on which the said Board meetings were held:
| S.N. |
BM |
AC |
SRC |
NRC |
ID |
| 1 |
19.05.2022 |
19.05.2022 |
30.06.2022 |
11.02.2023 |
16.03.2023 |
| 2 |
21.06.2022 |
10.08.2022 |
30.09.2022 |
- |
- |
| 3 |
10.08.2022 |
14.11.2022 |
31.12.2022 |
- |
- |
| 4 |
26.08.2022 |
11.02.2023 |
31.03.2023 |
- |
- |
| 5 |
14.11.2022 |
- |
- |
- |
- |
| 6 |
11.02.2023 |
- |
- |
- |
- |
| 7 |
16.03.2023 |
- |
- |
- |
- |
The intervening gap between the Meetings was within the period
prescribed under the Companies Act, 2013.
8. COMMITTEES:
The company has several committees which have been established as a
part of best corporate governance practices and are in compliance with the requirements of
the relevant provisions of applicable laws and statues.
The Board has constituted following Committees.
Audit Committee
Nomination and Remuneration Committee
Stakeholders Relationship Committee
The details with respect to the compositions, powers, roles, terms of
reference etc. of relevant committees are given in detail in the ‘Report on Corporate
Governance of the company which forms part of this Annual Report.
9. EXTRACTS OF ANNUAL RETURN:
The Annual Return of the Company as on March 31, 2023 is available on
the website of the company and can be accessed at (www.gopaliron.com).
10. STATUTORY AUDITORS &AUDIT REPORT:
Pursuant to the provisions of Section 139 of the Companies Act, 2013, M/S.
KRUTESH PATEL & ASSOCIATES, Chartered Accountants, (F.R.NO. 100865W), has been
appointed as a statutory auditor of the Company to hold office till the conclusion of
Annual General Meeting of the Company for the financial year 2023-24.
The Auditors comments on your companys accounts for year ended
March 31, 2023 are self-explanatory in nature and do not require any explanation as per
provisions of Section 134(3) (f) of the Companies Act, 2013.
11. DISCLOSURE OF REPORTING OF FRAUD BY AUDITORS UNDER SECTION 143(12):
During the financial year 2022-23, the Statutory Auditor has not
reported to the audit committee any instance of fraud committed against the Company by its
employees or officers under section 143(12), the details of which need to be reported in
Boards Report.
12. INTERNAL FINANCIAL CONTROLS:
The Company has appointed M/S. KUNAL SHAH & CO., Chartered
Accountant as Internal Auditor of the Company for the financial year 2022-23. Your company
had laid down set of standards, processes and structure which enables to implement
internal financial control across the organization and ensure that the same are adequate
and operating effectively. Their scope of work includesreview of processes for
safeguarding the assets of the Company, review of operational efficiency, effectiveness of
systems and processes, and assessing the internal control strengths in all areas.
13. COST RECORDS:
Pursuant to Section-148 (1) of the Companies Act, 2013 read with Rule 3
of Companies (Cost Records and Audit) Rules, 2014, Company does not fall under the
criteria for maintaining cost record for the financial year 2022-23.
14. SECRETARIAL AUDITORS AND SECRETARIAL AUDIT REPORT:
Pursuant to Section 204 of the Companies Act, 2013, your company had
appointed M/s. A. Shah & Associates, Practicing Company Secretaries, Ahmedabad, as its
Secretarial Auditors to conduct the Secretarial Audit of the company for FY 2022-23. The
Report of the Secretarial Auditor for the FY 2022-23 is annexed to this report as "Annexure
I".
The Board of Directors of the Company has discussed the remarks as
mentioned in Secretarial Audit
Report at arms length. The qualification raised by the
Secretarial Auditor in its report and the justification of Board of Directors on the same
are as follows:
| SR. NO |
QUALIFICATION JUSTIFICATION OF
BOARD |
| 1. |
The Company is yet to comply with The
Company has taken steps to ensure that the Regulation 31(2) of The Securities and physical
shares held by promoter or promoter Exchange Board of India (Listing Obligation group are
fully converted into DEMAT. and Disclosure Requirement) Regulation, However, still One
shareholder of promoter 2015 for maintaining hundred percent of group is holding shares in
physical. shareholding of promoter(s) and promoter group in dematerialized form. |
| 2 |
The Company has not complied with The
company undertakes to comply with Regulation 47 of SEBI (LODR) Regulation, Regulation 47
by maintaining website of the 2015 as the Website of the company is yet Company in the
current financial year. not updated. |
| 3 |
With respect to section 188 of the The
company undertakes to comply with section companies act, 2013, The company has 188 of the
Companies Act, 2013 by providing made transaction of sale with Harigopal disclosure of
related party transaction and take Steels & Metals Private Limited where prior
approval of shareholders for financial year Managing Director of the company is 2023-24. |
|
Director without prior approval of
shareholders, as it was 10% or more of the turnover of the company and the company has not
made intimation to stock exchange for the same. |
15. BOARD EVALUATION:
The Board of Directors has carried out an annual evaluation of its own
performance, Board committees andindividual directors pursuant to the provisions of the
Companies Act, 2013 and the corporate governance requirements as prescribedby Securities
and Exchange Board of India ("SEBI") under Regulation 17 to 27 and clauses (b)
to (i) of sub-regulation (2) of regulation 46 and paraC, D and E of Schedule V of SEBI
(Listing Obligation and Disclosure Requirement) Regulation 2015.
The performance of the Board was evaluated by the Board after seeking
inputs from all the directors on thebasis of the criteria such as the Board composition
and structure, effectiveness of board processes, informationand functioning, etc.The
performance of the committees was evaluated after seeking inputs from the committee
memberson the basis of the criteria such as the composition of committees, effectiveness
of committee meetings, etc.
The Board and the Nomination and Remuneration Committee
("NRC") reviewed the performance of theindividual directors on the basis of the
criteria such as the contribution of the individual director to the Board andcommittee
meetings like preparedness on the issues to be discussed, meaningful and constructive
contributionand inputs in meetings, etc. In addition, the Chairman was also evaluated on
the key aspects of his role.
In a separate meeting of independent Directors, performance of
non-independent directors, performance of theboard as a whole and performance of the
Chairman was evaluated, taking into account the views of executivedirectors and
non-executive directors. The same was discussed in the board meeting that followed the
meetingof the independent Directors, at which the performance of the Board, its committees
and individual directorswas also discussed.
16. DEPOSITS:
Your company has not accepted any deposits from the public within the
provisions of Section 73 to 76 of the Companies Act, 2013. Hence, the disclosures required
as per Rule 8(5)(v)&(vi) of the Companies (Accounts) Rules, 2014, read with Section 73
to 76 of the Companies Act, 2013 are not applicable to your Company.
17. VIGIL MECHANISM:
In pursuant to the provisions of section 177(9) & (10) of the
Companies Act, 2013, and Regulation 22 of the SEBI (Listing Obligation and Disclosure
Requirement) Regulations, 2015, a Vigil Mechanism for directors and employees to report
genuine concerns has been established. The Vigil Mechanism Policy has been uploaded on the
website of the Company at www.gopaliron.in under investors/policy documents/Whistle Blower
Policy link.
18. CONSERVATION OF ENERGY&TECHNOLOGY ABSORPTION:
(a)Conservation of energy:
| (i) |
the steps taken or impact on conservation of
energy |
N.A |
| (ii) |
the steps taken by the company for utilizing
alternate sources of energy |
N.A |
| (iii) |
the capital investment on energy
conservation equipments |
N.A |
(b) Technology absorption:
| (i) |
the efforts made towards technology
absorption |
N.A |
| (ii) |
the benefits derived like product
improvement, cost reduction, product |
N.A |
|
development or import substitution |
|
| (iii) |
in case of imported technology (imported
during the last three years |
N.A |
|
reckoned from the beginning of the financial
year)- |
|
|
(a) the details of technology imported |
N.A |
|
(b) the year of import; |
N.A |
|
(c) whether the technology been fully
absorbed |
N.A |
|
(d) if not fully absorbed, areas where
absorption has not taken place, and the |
N.A |
|
reasons thereof |
|
| (iv) |
the expenditure incurred on Research and
Development |
N.A |
The efforts are being made for energy conservation to the new &
Innovative means. The company always ready to keep itself updated with all latest
technological innovation by way of constant communication and consulting expert. Efforts
are being made to reduce the cost and to improve performance etc.
19. FOREIGN EXCHANGE EARNINGS / OUTGO:
As the Company has not carried out any activities relating to the
export and import during the financial year. There is no foreign exchange expenses and
foreign income during the financial year.
20. NOMINATION AND REMUNERATION POLICY:
The Board has on the recommendation of Nomination and Remuneration /
Compensation Committee framed a policy on directors appointment and remuneration of
Directors including criteria for determining qualification, positive attributes,
independence of directors and remuneration for Directors, Key Managerial Personnel and
other employees. The policy is annexed to this report as "Annexure II".
21. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:
All related party transactions that were entered during the financial
year were in ordinary course of the business of the company and were on arms length
basis. All such Related Party Transactions are placed before the Audit Committee for
approval.
The policy on materiality of Related Party Transactions and also on
dealing with Related Party Transactions as approved by the Audit Committee and the Board
of Directors has been uploaded on the website of the Company at www.gopaliron.com under
investors/policy documents/Related Party Transaction Policy.
The particulars of every contract or arrangements entered into by the
Company with related parties referred to in sub-section (1) of section 188 of the
Companies Act, 2013 is disclosed in Form No. AOC-2 "Annexure - III".
22. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186:
In terms of provisions of Section 134(3)(g), there was no loans,
guarantees or investments given by company under section 186. However, The Particulars of
Loans, Guarantees or Investments under
Section 186, is annexed hereto as "Annexure IV" and
forms part of this Report.
23. PARTICULARS OF EMPLOYEES REMUNERATION:
A. The ratio of the remuneration of each director to the median
employees remuneration and other details in terms of sub-section 12 of Section 197,
of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014, are forming part of this report as
"Annexure V".
B. The statement containing particulars of employees as required under
Section 197(12) of the
Companies Act, 2013 read with Rule 5(2) of the Companies (Appointment
and Remuneration of Managerial Personnel) Rules, 2014 is not provided as no employees is
being paid remuneration of Rs. 8.5 Lac Per month if employed for part of the year and Rs.
1.02 crore Per Annum if employed for the whole year.
24. CORPORATE SOCIAL RESPONSIBILITY (CSR)
The company does not fall under the purview of the section 135 of the
Companies Act, 2013 which requires formulating a Corporate Social Responsibility Committee
and adopting any activities as specified in Schedule VI.
25. HUMAN RESOURCES:
Your Company treats its "human resources" as one of its most
important assets. Your Company continuously invests in attraction, retention and
development of talent on an ongoing basis. A number of programs that provide focused
people attention are currently underway. Your Company thrust is on the promotion of talent
internally through job rotation and job enlargement.
26. SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION
AND
REDRESSAL) ACT, 2013:
Disclosure under Section 22 of the Sexual Harassment of Women at
Workplace (Prevention, Prohibition and Redressal) Act, 2013:
Pursuant to Section 22 of the Sexual Harassment of Women at Workplace
(Prevention, Prohibition and Redressal) Act, 2013 every company having 10 or more
employees engaged in the company during the financial year is required to set up an
Internal Complaints Committee to look into complaints relating to sexual harassment at
work place received from any women employee.
There are only 2 employee is working in the Organization. Hence, there
is no need to constitute committee and formulate policy in accordance with the section 22
of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal)
Act, 2013. However, during the year no complaints were received by the Internal Complaints
committee for sexual harassment from any of the women employees of the company.
27. SHAREHOLDING PATTERN:
The shareholding pattern as on 31st March, 2023:
| SR NO |
|
No. of Shares
held at the end of the previous financial year: 31/03/2022 |
No. of Shares held at the end
of the financial year:31/03/2023 |
|
|
Category of Shareholder |
Demat |
Physical |
Total Shares |
Total % |
Demat |
Physical |
Total Shares |
Total % |
% Change |
|
|
(A) (Shareholding of Promoter and Promoter
Group) |
|
Indian |
|
|
|
|
|
|
|
|
|
| 1. |
INDIVIDUAL / HUF |
2468774 |
200000 |
2668774 |
54.28 |
1815617 |
200000 |
2015617 |
40.99 |
(13.29) |
|
Total |
2468774 |
200000 |
2668774 |
54.28 |
1815617 |
200000 |
2015617 |
40.99 |
(13.29) |
|
Shareholding |
|
|
|
|
|
|
|
|
|
|
|
(B) Public shareholding |
| 2. |
BODIES CORPORATE |
14772 |
500 |
15272 |
0.31 |
19712 |
500 |
20212 |
0.41 |
0.10 |
| 3. |
INDIVIDUAL |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| 4. |
(CAPITAL UPTO TO Rs. 2 Lakh) |
582388 |
270700 |
853088 |
17.35 |
975277 |
282900 |
1258177 |
25.59 |
8.24 |
| 5. |
(CAPITAL GREATER THAN Rs. 2
Lakh) |
1084516 |
269200 |
1353716 |
27.53 |
1326577 |
256000 |
1582577 |
32.19 |
4.65 |
| 6. |
ANY OTHERS (Specify) |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| 7. |
HINDU UNDIVIDED FAMILY |
17021 |
0 |
17021 |
0.35 |
35607 |
- |
35607 |
0.72 |
0.38 |
| 8. |
CLEARING MEMBER |
7019 |
0 |
7019 |
0.14 |
100 |
- |
100 |
0 |
(0.14) |
| 9. |
NON-RESIDENT INDIANS (NRI) |
2210 |
0 |
2210 |
0.04 |
4810 |
- |
4810 |
0.1 |
0.06 |
| 10. |
NON-RESIDENT INDIANS (REPAT) |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| 11. |
IEPF |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Total Public Shareholding |
1707926 |
540400 |
2248326 |
45.72 |
2362083 |
539400 |
2901483 |
59.01 |
13.29 |
|
GRAND TOTAL |
4176700 |
740400 |
4917100 |
100.0 |
4177700 |
739400 |
4917100 |
100.0 |
- |
28. DETAILS OF SUBSIDIARY JOINT VENTURE AND ASSOCIATES COMPANY
During the year under review there is no Company which have become or
ceased to be theSubsidiaries, joint ventures or associate companies.
29. CHANGE IN NATURE OF THE BUSINESS:
There has been no change in the nature of business of the company
during the year under review.
30. MANAGEMENT DISCUSSION AND ANALYSIS:
As per the corporate governance norms, a separate section on Management
Discussion and Analysis outlining the business of the Company is set out in Annexure
forming part of this Report.
31. SIGNIFICANT OR MATERIAL ORDERS AGAINST COMPANY:
No significant and material orders were passed by the regulators or
courts or tribunals impacting the going concern status and Companys operation in
future.
32. SIGNIFICANT OR MATERIAL EVENTS OCCURRED DURING THE FINANCIAL YEAR:
Following are the significant and material events occurred during the
financial year 2022-23;
1. Resignation of Ms. Dhruvi Patel, Company Secretary of the company
w.e.f. 16th March, 2023.
2. Mr. Baldevbhai Gopalbhai Patel, Promoter of the company has sold his
3,05,705 shares in Open Market form 20.02.2023 to 21.02.2023.
3. Mr. Harsh Bhaveshbhai Patel, Promoter of the company has sold his
1,62,000 shares in Open Market from 16.02.2023 to 17.02.2023.
4. Mrs. Kundanben Bhaveshbhai Patel, Promoter of the company has sold
her 3,19,952 shares in Open Market on 23.02.2023.
5. Inter-setransfer made betweenMr.Bhaveshbhai G Patel andMrs.
Kundanben Bhaveshbhai Patel, she acquired 876782 shares on 23.12.2023 by way of
Inheritance.
All the relevant disclosures have been made by the company within
stipulated time prescribed under the applicable Act/Rules/Regulation.
33. SIGNIFICANT OR MATERIAL EVENTS OCCURRED AFTER THE BALANCE SHEET
DATE:
No other Event has been occurred after the balance sheet date that
representing the material changes and commitment that affecting the financial position of
the company.
34. RISK MANAGEMENT:
Your Company has adopted and implemented a Risk Management Policy
voluntarily which includes identification of elements of risk, if any, which in the
opinion of the Board may threaten the existence of the Company.
35. DIRECTORS RESPONSIBILITY STATEMENT:
Pursuant to requirement under 134(3)(c) and Section 134(5) of the
Companies Act, 2013 (Act), Directors, confirm that:
(a) in the preparation of the annual accounts for the year ended on 31st
March, 2023, the applicable accounting standards read with requirement set out under
Schedule III to the Act, have been followed and there are no material departures from the
same;
(b) the Directors 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 as at March 31, 2023
and of the profit of the company for the year ended on that date;
(c) 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;
(d) the Directors had prepared the annual accounts on a going concern
basis;
(e) the Directors, had laid down internal financial controls to be
followed by the company and that such internal financial controls are adequate and are
operating effectively and
(f) The Directors had devised proper systems to ensure compliance with
the provisions of all applicable laws and that such systems are adequate and operating
effectively.
36. ACKNOWLEDGEMENT:
Your Directors wish to place on record their gratitude and sincere
appreciation for the assistance and co-operation received from the financial institutions,
banks, Government authorities, customers, vendors and members during the year under
review.
Your Directors would like to express a profound sense of appreciation
for the commitment shown by the employees in supporting the Company in its continued
robust performance on all fronts.
| PLACE: AHMEDABAD |
BY ORDER OF THE BOARD OF DIRECTORS, |
| DATE: 10.08.2023 |
FOR, GOPAL IRON & STEELS CO.
(GUJARAT) LIMITED |
|
SD/- |
|
MRS. KUNDANBEN PATEL |
|
MANAGING DIRECTOR |
|
(DIN: 03063504) |
+91-9892691696
