GP Petroleums Ltd Directors Report.

Dear Shareholders,

The Directors Have Pleasure In Presenting The 36th Annual Report Of Gp Petroleums Limited And Audited Financial Statements For The Financial Year Ended March 31, 2019 Together With The Auditors Report. Financial Highlights

The Summarized Financial Performance Of The Company Are As Follows: (##Rs## In Lakhs)
Particulars 2018-2019 2017-2018
Sales/ Income From Operations 60,657.34 53,200.91
Profit Before Interest, Depreciation And Tax (Ebidta) 3,530.34 3,518.89
Less: Interest And Finance Charges 667.35 703.77
Depreciation 318.45 312.23
Profit Before Taxes 2,544.54 2,502.89
Less: Provision For Tax 919.55 866.64
Net Profit After Tax 1,624.99 1,636.25
Other Comprehensive Income Before Tax 54.59 46.07
Less: Income Tax Relating To Above 19.08 16.26
Other Comprehensive Income After Tax 35.51 29.81
Total Comprehensive Income For The Year After Tax 1,660.50 1,666.05

Performance Highlights

Your Company Has Continued Its Growth Path As Revenue During The Year 2018-19 Increased By 14% To ##Rs## 606.57 Cr As Against ##Rs## 532 Cr Over The Previous Financial Year. Net Profit Before Tax During The Year 2018-19 Increased By 1.7% As Compared To The Previous Financial Year. As A Result Of The Negligible Generic Industry Growth The Market Witnessed Intensified Competition Among The Existing Market Players For A Greater Share. Nonetheless, Your Company Could Achieve A Satisfactory Growth In Sales Revenue In Spite Of Drop In Volumes Mainly Due To Improved Sales Realization And Better Product Mix. On The Other Hand, Though The Rising Input Costs And Volatility In The Market Led To Greater Pressure On Margins, Your Companys Effective Business Strategy Helped In Posting Such Satisfactory Result.

Dividend

The Board Of Directors Of Your Company Have Recommended Final Dividend Of##Rs## 0.75 Per Equity Share (15% On Equity Shares Of ##Rs## 5/- Each) For The Year 2018-2019. Accordingly, Disclosure For Dividend Amount Of ##Rs## 382.38 Lakhs And Tax Thereon Of ##Rs## 77.84 Lakhs Has Been Made In The Financial Statements As Per The Provisions Of Ind As. The Final Dividend, Subject To Approval Of Members, Will Be Paid Within Statutory Period, To Those Members Whose Names Appear In The Register Of Members, As On The Record Date.

Transfer Of Amounts And Shares To Investor Education And Protection Fund

Pursuant To The Provisions Of Section 124 Of The Companies Act, 2013 And Investor Education And Protection Fund Authority (Accounting, Audit, Transfer And Refund) Amendment Rules, 2017, Read With All Relevant Notifications As Issued By The Ministry Of Corporate Affairs From Time To Time All Shares In Respect Of Which Dividend Has Remained Unpaid Or Unclaimed For A Period Of Seven Consecutive Years Have Been Transferred By The Company, Within The Stipulated Due Date, To The Investor Education And Protection Fund (Iepf).

A List Of Shareholders Along With Their Folio Number Or Dp. Id. And Client Id., Who Have Not Claimed Their Dividends For The Last Seven Consecutive Years I.E. 2011- 12 To 2017-18 And Whose Shares Are Therefore Liable For Transfer To The Iepf Demat Account, Has Been Displayed On The Website Of The Company At Www.Gppetroleums.Co.In Besides Sending Individual Communication To The Concerned Shareholders And Issuance Of Public Notice. The Company Has Uploaded The Details Of Unpaid And Unclaimed Amounts Lying With The Company As On September 21, 2018 (Date Of Last Agm) On The Companys Website Www.Gppetroleums.Co.In Members Are Requested To Ensure That They Claim The Dividends And Shares Referred Above, Before They Are Transferred To The Said Fund. The Shareholders Are Encouraged To Verify Their Records And Claim Their Dividends Of All The Earlier Seven Years, If Not Claimed.

Disclosure Regarding Transfer Of Reserve

During The Year, Under Review, No Amount Was Transferred To General Reserve.

Nature Of Business

Gp Petroleums Limited Is Engaged In The Production Of Automotive Lubricants, Industrial Lubricants & Specialties, Process Oils & Specialities. Under The Automotive Lubricants Category, The Products Include Automotive Engine Oils, Automotive Gear And Transmission Oils, Automotive Greases, Engine Coolant (Antifreeze) And Brake Fluids And Diesel Exhaust Fluid ‘Clear Blue. Under The Industrial Lubricants & Specialties Category, The Products Include Industrial Lubricating Oils, Industrial Specialty Oils, Metal Working Fluids (Cutting, Drilling & Forming), Corrosion Preventive Oils, Cleaners And Quenching Oils, Industrial Greases And Horticultural Orchard Spray Oils. Under The Process Oils & Specialities Category, The Products Include Rubber Process Oils, White Oils And Specialties And Transformer Oils. Its Manufacturing Facilities Are Located In Vasai With A Production Capacity Of 80,000 Kiloliters. The Company Also Holds Exclusive License To Manufacture And Market Premium Quality Lubricants Under The Brand Name "Repsol" In India. Further Details May Be Referred To Under The Heading "Company Profile".

Quality Assurance And Accreditations

The Companys Plant At Vasai Is Accredited Under Iso: 9001:2015 For Quality Standards, Iso 45001:2018 For Health & Safety Management Systems And Iso 14001:2015 For Environmental Standards. The Support Provided By The Companys Accredited R&D Centers Have Helped In Improving The Quality Of Products And Upgrading Product Formulation. Your Companys Products Primarily Marketed Under The Brand Name Ipol And Repsol Are Well Established And Accepted In The Industry For Their Quality And Range.

Future Outlook

The Indian Lubricant Market Is Expected To Register A Cagr Of 4.64%, During The Forecast Period, 2019-2024. The Major Factors Driving The Growth Of The Market Are The Increasing Vehicular Production Along With The Increasing Construction And Infrastructure Activities In The Country. The Key Drivers Of Demand Growth In Each Product Category Where The Company Operates Are Automotive Lubricants, Industrial Lubricants & Specialties, Process Oils & Specialities, With Growth In Use Of Two Wheelers By Young Urban And Semi Urban Work Force, First Time Users And Woman Work Force, This Category Of Engine Oils Will Continue To See An Upward Trend. Premium Lubricants Will Continue To Lead The Growth For Passenger Cars And The Company Is Well Placed To Take Advantage Of The Same With Its Well-Developed Portfolio Of Premium Lubricants. The Demand For Premium Quality Lubricants In Light And Medium Commercial Vehicle Segment Is Expected To Grow Due To Continued Growth In Economic Activity. The Demand For Industrial Lubricants Saw A Marginal Slow Down Due To The Dip In Iip Seen In The Last Quarter Of 2018. However, The Industrial Lubricants Demand Is Likely To Grow With Economic Reforms Gaining Momentum As Indias Long-Term Prospects For Growth Remain Optimistic. As Global Oems Continue Their Focus In India, Growth Prospects Are Likely To Get A Further Boost. The Companys Products Are Distributed Through Wide Network Of Distributors Who Service Medium And Small Customers Spread Over The Rural Markets. The Company Also Leverages Its Distribution Channels To Reach A Wider Network Of Independent Workshops And Retail Outlets. The Company Also Sells Directly To Major Key Accounts.

Board Of Directors

Board Of Directors Of The Company Comprises Of Eight Directors As On March 31, 2019 With Considerable Experience In Respective Field. Of These Four Are Non-Executive Non Independent Directors And Four Are Non-Executive Independent Directors.

Mr. Sudhakara Rao Ravipati (Din - 08049476) Was Appointed As An Independent Director Of The Company W. E. F. May 14, 2018. He Has Resigned From The Board W.E.F. October 12, 2018 Consequent Upon Prospective Change In His Interest. The Board Has Taken On Record His Resignation And Places Its Deep Appreciation For The Valuable Services Rendered By Him During His Tenure As Director Of The Company. Mr. Narotamkumar G Puri (Din 06948464) Was Appointed As An Independent Director For A Five Year Term With Effect 2014 And Pursuant To Completion Of His Term On August 13, 2019 Has Ceased To Be A Director On The Board Of The Company. The Board Has Taken On Record The Cessation Of Office Of Of Mr. Narotamkumar G Puri And Places Its Deep Appreciation For The Valuable Services Rendered By Him During His Tenure As An Independent Director Of The Company.

Mr. Mahesh Damle (Din - 08261516) And Mrs. Stuti Kacker (Din 07061299) Were Appointed As Additional Directors In The Category Of Independent Directors Of The Company W. E. F. October 29, 2018 And August 5, 2019 Respectively And They Hold Office Up To The Date Of The Annual General Meeting And Being Eligible, Offer Themselves For Reappointment Subject To Approval Of Shareholders At Ensuing Annual General Meeting.

The Company Has Received Notice Under Section 160 Of The Companies Act, 2013 Proposing Their Appointment As Director. Appropriate Resolutions Seeking Appointment Of Mr. Mahesh Damle And Mrs. Stuti Kacker As Independent Directors Of The Company Is Appearing In The Notice Convening The 36th Annual General Meeting Of The Company.

In Accordance With Section 152 And Other Applicable Provisions Of The Companies Act 2013 Mrs. Pallavi Mangla (Din: 03579576) Retires By Rotation At The Ensuing Annual General Meeting And Being Eligible, Offers Herself For Re-Appointment. Appropriate Resolution Seeking Reappointment Of Mrs. Pallavi Mangla As Director Of The Company Is Appearing In The Notice Convening The 36th Annual General Meeting Of The Company.

Declaration By Independent Directors

Mr. Bhaswar Mukherjee, Mr. Jagat Singh, Mr. Mahesh Damle And Mrs. Stuti Kacker Are Independent Directors Of The Company. All The Independent Directors Have Submitted Declarations As Not Disqualified To Be Appointed As An Independent Directors And Their Independence As Specified In Section 149 Of The Companies Act, 2013 And Regulation 25 Of Sebi (Listing Obligation And Disclosure Requirements), Regulations 2015.

Committees Of Board

The Details Of Committees Constituted By The Board Of Directors And Number Of Meeting Of Each Committee Held During The Period Are Provided In Corporate Governance Report.

Change In The Nature Of Business

There Has Been No Change In The Nature Of Business, During The Period Under Review.

Change In Key Managerial Personnel

Mr. Shiv Ram Singh, Company Secretary And Compliance Officer Resigned W.E.F. February 25, 2019 And Mr. Bijay Kumar Sanku Appointed As Company Secretary And Compliance Officer Of The Company W.E.F. April 22, 2019.

Evaluation Of Board And Its Various Committees.

The Nomination And Remuneration Committee Has Specified The Criteria For Performance Evaluation Of The Directors, The Board And Its Committees. 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 Sebi Listing Regulations.

Details Of The Annual Performance Evaluation Have Been Provided In The Corporate Governance Report.

Policy On Directors Appointment And Remuneration

Section 178 Of The Companies Act, 2013 Is Applicable To The Company. The Company Appoints Independent Directors, Being Persons Having Rich Experience And Domain Knowledge, To Serve On The Board. Independent Directors Are Initially Appointed By The Board On Recommendation Of The Nomination And Remuneration Committee. Non-Executive Directors Are Appointed By The Board From Time To Time, Subject To The Approval Of The Shareholders. Executive Director(S) May Be Appointed Based On Their Performance And Their Contribution Towards The Company. Appointment(S) Of All Directors Are Formalized On Approval Of The Shareholders.

The Company Has Framed A Remuneration Policy, In Relation To Remuneration Of Directors, Key Managerial Personnel (Kmp) And Senior Management, As Recommended By The Nomination And Remuneration Committee Of The Board Of Directors. The Same, Interalia Contains Matters Stated Under Section 178 Of The Companies Act, 2013 Read With Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) (Amendment) Regulations, 2018. The Salient Features Of Such Policy Have Been Furnished In The Corporate Governance Report Forming Part Of This Annual Report And Is Also Available In The Website Of The Company Www.Gppetroleums. Co.In

Related Party Transactions

The Policy On Related Party Transactions Has Been Uploaded On The Website Of The Company. During The Year There Was No Material Related Part Transaction.

For The Related Party Transaction Of Routine And Repetitive Nature Omnibus Approval Was Taken On Yearly Basis. All Related Party Transactions Were Placed Before The Audit Committee And The Board For Their Approval. A Statement Of Related Party Transactions Entered Consequent Upon Omnibus Approval Being Placed Before The Audit Committee And The Board On Quarterly Basis For Their Review & Noting. Particulars Of Contracts Or Arrangements Entered Into With Related Parties Referred To In Section 188(1) Of The Companies Act, 2013 In Prescribed Form Aoc-2 Is Attached As Annexure A To This Report. Auditors Statutory Auditors

Pursuant To The Recommendation Of The Audit Committee And Subject To The Approval Of The Members, The Board Of Directors, At Their Meeting Held On August 5, 2019, Have Approved The Reappointment Of M/S. Png & Co., Chartered Accountants, (Firm Registration No. 021910n) As Statutory Auditors Of The Company For Second Term Of Five (5) Years Starting From The Conclusion Of 36th Annual General Meeting Till The Conclusion Of 41st Annual General Meeting. The Board Of Directors Recommends Their Appointment As Statutory Auditors Of The Company For Secondtermoffive(5) Years. M/S. Png & Co., Have Furnished A Certificate, Confirming That If Appointed In Annual General Meeting, It Will Be In Accordance With The Provisions Of Section 139 Read With Section 141 Of The Companies Act, 2013 And The Rules Made Thereunder.

The Report Of The Statutory Auditors Read With Notes To Account Being Self-Explanatory Needs No Further Clarification. No Qualification, Reservation Or Adverse Remark Has Been Reported To The Board In The Report.

Internal Auditors

Pursuant To Provisions Of Section 138 Of The Companies Act, 2013, The Board Of Directors At Their Meeting Held On May 17, 2019, Has On The Recommendation Of The Audit Committee Appointed M/S Jain, Mittal, Chaudhary & Associates, New Delhi As Internal Auditors Of The Company To Conduct Internal Audit In Fair And Transparent Manner For The Financial Year 2019-2020.

Cost Auditors

As Per Requirements Of The Central Government And Pursuant To Provisions Of Section 148 Of The Companies Act, 2013 Read With The Companies (Audit And Auditors) Rules, 2014 Cost Audit Is Applicable To The Company.

The Board Of Directors On Recommendation Of The Audit Committee Has Appointed Mr. Dilip Murlidhar Bathija, Cost Accountant Bearing Membership No. 10904 As Cost Auditor Of Your Company For The Financial Year 2019-2020 At A Remuneration Of ##Rs## 100,000/- (Rupees One Lakhs Only) Plus Reimbursement Of Out Of Pocket Expenses At Actual Basis.

The Remuneration Proposed To Be Paid Is Required To Be Ratified By The Members Of The Company. Accordingly, The Matter Will Be Placed At The Ensuing Annual General Meeting Of The Company For Ratification.

Secretarial Auditors

Pursuant To Section 204 Of The Companies Act, 2013 And Rule 9 Of The Companies (Appointment And Remuneration Of Managerial Personnel) Rules, 2014 The Company Has Appointed Cs Punit Shah (Acs No. 20536), Practicing Company Secretary (Cp No. 7506) To Undertake Activities Of Secretarial Audit Of The Company For The Financial Year 2019-2020. The Report Of The Secretarial Auditors Is Attached Herewith As Annexure B And Forms An Integral Part Of This Report.

The Report Is Self-Explanatory And Do Not Call For Any Further Comments. No Qualification, Reservation Or Adverse Remark Has Been Reported To The Board In The Report.

Compliance With Secretarial Standards On Board And General Meetings

During The Financial Year, Your Company Has Complied With Applicable Secretarial Standards Issued By The Institute Of Company Secretaries Of India.

Directors Responsibility Statement

Pursuant To Section 134 (3)(C) And (5) Of The Companies Act, 2013 Your Directors Hereby State And Confirm That:

1. In The Preparation Of The Annual Accounts For The Financial Year Ended March 31, 2019, The Applicable Accounting Standards Have Been Followed, Along With Proper Explanation Relating To Material Departures If, Any.

2. Such Accounting Policies Have Been Selected And Applied Consistently And Made Judgments And Estimates Have Been Made That Are Reasonable And Prudent To Give A True And Fair View Of The Companys State Of Affairs As At March 31, 2019 And Of The Companys Profit For the year ended On That Date.

3. Proper And Sufficientcare Has Been Taken For The Maintenance 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.

4. The Annual Financial Statements Have Been Prepared On A Going Concern Basis.

5. That Internal Financial Controls Were Laid Down To Be Followed And That Such Internal Financial Controls Were Adequate And Were Operating Effectively.

6. Proper Systems Were Devised To Ensure Compliance With The Provisions Of All Applicable Laws And That Such Systems Were Adequate And Operating Effectively.

Meeting Of Board Of Directors

The Board Met Five Times During The Financial Year 2018-2019 I.E. On May 14, 2018, May 29, 2018, August 9, 2018, October 29, 2018 And January 30, 2019.

Holding Company

The Gp Global Apac Pte. Ltd. (Formerly Known As Gulf Petrochem Pte. Ltd.) Continues To Remain The Holding Company Of Your Company.

Subsidiary/ Associate Company

Your Company Does Not Have Any Subsidiary/Associate Company During The Year Under Review.

Corporate Governance Report

A Corporate Governance Report As Prescribed Under The Sebi (Listing Obligations And Disclosure Requirement) Regulations, 2015 Forms An Integral Part Of This Report. The Company Complies All The Requirement Of Corporate Governance. Certificate Of Compliance By The Statutory Auditors Forms An Integral Part Of This Report.

Annual Return

The Annual Return Of The Company As Required Under The Companies Act, 2013 Will Be Available On The Website Of The Company At Www. Gppetroleums.Co.In

Equity Share Capital

Authorised Share Capital Of The Company Is ##Rs## 26.00 Crs And Issued, Subscribed & Paid-Up Capital Of The Company Is ##Rs## 25.49 Crs. During The Year Under Review There Was No Change In Share Capital Of The Company.

Material Change And Commitment

There Are No Material Changes And Commitments Affecting The Financial Position Of The Company Which Have Occurred Between The End Of The Financial Year To Which The Financial Statement Relates And The Date Of The Report.

Particulars Of Loans, Guarantee And Investments

During The Year Under Review The Company Has Not Given Any Loan Or Guarantee Covered Under The Provisions Of Section 186 Of The Companies Act, 2013.

Details Of Investments Done By The Company Are Given In Note No. 9 To The Financial Statements.

Conservation Of Energy, Technology Absorption And Foreign Exchange Earnings And Outgo

The Information On Conservation Of Energy, Technology Absorption And Foreign Exchange Earnings And Outgo As Required Pursuant To Section 134(3) Of The Companies Act, 2013 Read With Rule 8(3) Of The Companies (Accounts) Rules, 2014 Is Given In Annexure

C. Risk Management Policy

Provisions Of Regulation 21 Of The Sebi (Listing Obligations And Disclosure Requirements) Regulations, 2015 Regarding Risk Management Policy Are Not Applicable To The Company. However, Your Company Has Adopted Risk Management Policy To Manage & Mitigate The Risk.

Risk Management Committee Constituted By The Board Of Directors Meets Regularly To Review The Risk And The Measures Taken To Mitigate The Same.

Corporate Social Responsibility

The Company Recognizes That Its Operations Impact A Wide Community Of Stakeholders, Including Investors, Employees, Customers, Business Associates And Local Communities And That Appropriate Attention To The Fulfillment Of These Social Responsibilities Can Enhance Overall Performance.

Pursuant To Section 135 Of The Companies Act, 2013, The Board Of Directors Has Constituted Corporate Social Responsibility (Csr) Committee Under Chairmanship Of Mr. Bhaswar Mukherjee, Independent Director Of The Company. The Csr Policy Has Been Approved By The Board Of Directors And Monitored By The Committee. The Csr Policy Is Available On The Website Of The Company. Annual Report On Csr Activities Is Provided As Annexure D To This Report.

Fixed Deposit/Public Deposits

The Company Has Not Accepted Or Renewed Any Deposit/S Within The Purview Of Provisions Of Section 73 Of The Companies Act, 2013 Read With The Companies (Acceptance Of Deposit) Rules, 2014 During The Year Under Review. Hence Requirements Of Furnishing Details Of Deposits Which Are Not In Compliance With The Chapter V Of The Act Is Not Applicable

Significant And Material Orders Passed By The Regulators Or Courts

No Significant Material Orders Have Been Passed By The Regulators Or Courts Or Tribunals Which Would Impact The Going Concern Status Of The Company And Its Future Operations.

Reportable Frauds

No Fraud Has Been Reported By The Auditors Under Section 143(12) Of The Companies Act, 2013, During The Period Under Review.

Internal Financial Controls

Your Company Has In Place Adequate Internal Financial Controls With Reference To Financial Statements. Your Company Has Adopted The Policies And Procedures For Ensuring The Orderly And Efficient Conduct Of Its Business, Including Adherence To The Companys Policies, The Safeguarding Of Its Assets, The Prevention And Detection Of Frauds And Errors, The Accuracy And Completeness Of The Accounting Records And The Timely Preparation Of Reliable Financial Disclosures

Disclosure Under Prevention Of Sexual Harassment Of Women At Workplace (Prevention, Prohibition And Redressal) Act, 2013.

Your Company Is Committed To Provide Safe And Secure Working Environment For Women Employees And Adopt Zero Tolerance Towards Sexual Harassment At Workplace.

An Internal Complaint Committee Has Been Constituted As Per The Sexual Harassment Of Women At Workplace (Prevention, Prohibition And Redressal) Act, 2013.

No Complaint Was Received During The Year Under Review.

Particulars Of Employees

The Information Required To Be Disclosed In The Directors Report Pursuant To Section 197 Of The Companies Act, 2013 Read With Rule 5 Of The Companies (Appointment And Remuneration Of Managerial Personnel) Rules, 2014 Is Set Out As Annexure E To This Report. As Per Provisions Of Section 136(1) Of The Companies Act, 2013 The Report And Accounts Are Being Sent To All The Members Of The Company Excluding The Information Required Under Section 197(12) Of The Companies Act, 2013 Read With Rule 5(2) And 5(3) Of Companies (Appointment And Remuneration Of Managerial Personnel), Rules, 2014. Any Member Interested In Obtaining Such Information May Write To The Company Secretary At The Registered Office During Working Hours Up To Date Of Annual General Meeting.

Human Resources

Your Company Recognizes The Importance And Contribution Of Its Human Resources For Its Growth & Development And Values Their Talent, Integrity And Dedication And Treats As One Of Its Most Important Assets. The Company Offers A Highly Entrepreneurial Culture With A Team Based Approach That We Believe Encourages Growth And Motivates Its Employees. The Company Has Been Successful In Attracting And Retaining Key Professionals And Intends To Continue To Seek Fresh Talent To Further Enhance And Grow Its Business.

Code Of Conduct

The Company Has Adopted The Code Of Conduct For All Board Members And Senior Management Which Incorporates The Role, Duties And Liabilities Of Independent Directors As Laid Down In The Companies Act, 2013. The Code Is Available On The Companys Website Www. Gppetroleums.Co.In All Members Of The Board And Senior Management Personnel Have Affirmed Compliance With The Code Of Conduct (As Per Regulation 26 (3) Of The Sebi Listing Obligations And Disclosure Requirements Regulations). A Declaration To This Effect, Signed By The Chief Executive Officer Is Attached As Annexure F.

Code For Prevention Of Insider Trading

Policies And Codes Adopted By The Company Pursuant To Sebi (Prohibition Of Insider Trading) Regulations, 2015, As Amended From Time To Time, Are Displayed On The Companys Website I.E. Www. Gppetroleums.Co.In.

Nomination, Remuneration And Succession Planning Policy

The Board Of Directors Have Formulated Nomination, Remuneration And Succession Planning Policy Which Is Available On The Website Of The Company Www.Gppetroleums.Co.In.

Whistle Blower Policy

The Company Has Adopted A Whistle Blower Policy, To Provide A Formal Mechanism To The Directors And Employees To Report Their Concerns About Unethical Behavior, Actual Or Suspected Fraud Or Violation Of The Companys Code Of Conduct Or Ethics Policy. The Policy Provides For Adequate Safeguards Against Victimization Of Employees Who Avail Of The Mechanism And Also Provides For Direct Access To The Chairman Of The Audit Committee. It Is Affirmed That No Personnel Of The Company Has Been Denied Access To The Audit Committee.

All Protected Disclosures Concerning Financial Or Accounting Matters Should Be Addressed, In Writing, To The Audit Committee Either Directly Or Through Designated Officer, Mr. Arjun Verma, Chief Financial Officer Of The Company For Investigation.

Such Disclosure/ Communication Should Be Submitted Under A Covering Letter Signed By The Whistle Blower In A Closed And Secured Envelope And Should Be Super Scribed As "Disclosure Under The Whistle Blower Policy" Or If Send Through Email, With Subject As "Disclosure Under The Whistle Blower Policy".

During The Year, No Complaints Were Received Under The Said Policy.

Management Discussion And Analysis

A Detailed Report On The Management Discussion And Analysis For The Financial Year Under Review Presented In Separate Section Of Annual Report.

Corporate Website

The Websites Of Your Company, Gppetroleums.Co.In Carry Comprehensive Database Of Information Of Interest To The Stakeholders Including The Corporate Profile, Information With Regard To Products, Plants And Various Depots, Financial Performance Of Your Company, Corporate Policies And Others.

Cautionary Statement

Statements In The Management Discussion And Analysis Describing The Companys Objectives, Projections, Estimates, Expectations Or Predictions And/Or In This Report May Be ‘Forward-Looking Statements Within The Meaning Of Applicable Laws And Regulations. The Actual Results May Differ Materially From Those Expressed In The Statements.

Acknowledgement

We Thank Our Clients, Investors, Dealers, Suppliers And Bankers For Their Continued Support During The Year. We Place On Record Our Sincere Appreciation For The Contributions Made By Employees At All Levels For Achieving Encouraging Results Under Adverse Market Conditions.

On Behalf Of The Board Of Directors Of
For Gpp Etroleums Limited
Manan Goel
Mumbai, August 5, 2019 Chairman