The Members of, GUJARAT INTRUX LIMITED
BOARDS REPORT
Your Directors have pleasure in presenting 31st Annual Report of
the Company together with Audited Financial Accounts for the year ended on 31st March,
2023.
FINANCIAL SUMMARY AND HIGHLIGHTS
(Rs. In Lakhs)
| Particulars |
2022-23 |
2021-22 |
| Net Income from Operation and Other Income |
5236.74 |
4345.43 |
| Profit/ (Loss) Before Interest, Depreciation
& Taxation |
924.22 |
599.09 |
| Less: Interest and Financial expenses Depreciation
& Amortization |
5.94
153.64 |
10.91
158.41 |
| Profit/(Loss) Before Taxation |
764.64 |
429.77 |
| Less: Provision for Taxation |
190.81 |
124.91 |
| Add/Less: Prior Year Adjustment |
0.00 |
0.00 |
| Net Profit/(Loss) Available |
573.83 |
304.86 |
REVIEW OF BUSINESS OPERATION AND FUTURE PROSPECTS
In the Financial Year 2022-23, Your Company has experienced 20.51%
upward in comparison to last year in income from operations and other income and the
profitability of the Company increases approximate by 88.23% in comparison to last year.
Overall percentage of profitability and revenue increased.
Our Marketing Team constantly making efforts for good and profitable
items and expected to capture potential market in future.
STATE OF AFFAIRS :
We are committed to manufacture and supply Quality Steel and Alloy
Steel Castings to meet customers need both for domestic and global market. We maintain our
market position through continual improvement of Quality management system, process
technology and commitment from dedicated trained employees and suppliers.
EQUITY INFUSION
Your company has not issued any equity shares during the year under
review.
TRANSFER TO RESERVE
The Board of Directors of your company, has decided not to transfer
any amount to the Reserves for the year under review and accordingly no amount has been
transferred to General Reserve for the Financial Year ended on March 31, 2023.
DIVIDEND
Your Board has always believed in Shareholder valuations and giving
values to them in form of dividend. We are pleased to recommended the Final Dividend of
Rs.10/- per equity share having the face value of Rs.10/-each (i.e.100% of face value) for
the financial year ended on March 31,2023, payable to those shareholders whose name appear
in the Register of Members as on the Record date. This final dividend is subject to
approval of Members at 31st Annual General Meeting.
INVESTOR EDUCATION AND PROTECTION FUND (IEPF)
During the year, your company has transferred the unclaimed
dividends for the year 2014-15 amounting to Rs. 1,80,762.During the Financial Year
2022-23, the Company has in compliance with the provisions of Sections 124 and 125 of
Companies Act, 2013 and Investor Education and Protection Fund (Accounting, Audit,
Transfer and Refund) Rules, 2016 transferred 18,056 Equity Shares of the Face Value of Rs
10/- (Rupee Ten Only) each underlying the unclaimed dividends for the Financial Year
2014-15 as the base,In respect of which the dividend has not been claimed for a
consecutive period of seven years or more.
Dividend at the rate of 30% for the financial year 2021-22 was approved
by the shareholder at the 30th AGM and total amount of Rs. 2,74,923/- on share transfered
to IEPF paid by the company on 4th October, 2022.
The Company had communicated to all the concerned shareholders
individually whose shares were liable to be transferred to IEPF. The Company had also
given newspaper advertisements, before such transfer in favour of IEPF. The Company had
also uploaded the details of such shareholders and shares transferred to IEPF on the
website of the Company at https:// www.gujaratintrux.com.
Further, below are the details of transfer of dividend amounts to
IEPF:
| Dividend for the financial year ended |
Date of Dividend Declaration |
Due Date for Transfer to IEPF |
| 31.03.2018 |
18.09.2018 |
25.10.2025 |
| 31.03.2019 |
17.09.2019 |
24.10.2026 |
| 31.03.2020 |
21.09.2020 |
28.10.2027 |
| 31.03.2021 |
20.09.2021 |
27.10.2028 |
| 31.03.2022 |
24.09.2022 |
31.10.2029 |
DETAILS OF NODAL OFFICER
The company has appointed Mr. Sagar Rajyaguru as Nodal officer of
the company as per Investor Education and Protection Fund Authority (Accounting, Audit,
Transfer and Refund) Rules, 2016.
Mr. Sagar Rajyaguru is Company Secretary and Compliance Officer of the
company and his contact details is as under
NODAL OFFICER OF GUJARAT INTRUX LIMITED
Mr. Sagar Rajyaguru Company Secretary & Compliance Officer
E-mail: cs@gujaratintrux.com
Tel No: +91-2827-252851/2 Mob. No : +91 9328987249
The above details are also available on the website of the company.
CHANGE IN NATURE OF BUSINESS AND MAJOR EVENTS
During the year there is no change in nature of the Business of the
Company and no major events ocurred.
MATERIAL CHANGES AND COMMITMENTS, IF ANY, AFFECTING THE FINANCIAL
POSITION OF THE COMPANY, HAVING OCCURRED SINCE THE END OF THE YEAR AND TILL THE DATE OF
THE REPORT
There were no material changes and commitments, if any, affecting
the Financial Position of the Company, having occurred since the end of the year and till
the date of the Report.
CAPITAL STRUCTURE
Your company has not issued any Equity Shares during the year under
review and there is no change in the Capital Structure of the Company during the year
2022-23.
HOLDING/SUBSIDIARY/ASSOCIATE
The Company has no Holding, Subsidiary and Associate Company.
OVERVIEW OF THE INDUSTRY, EXTERNAL ENVIRONMENT & ECONOMIC
OUTLOOK
Steel has contributed immensely towards Indias economic growth.
This is evident from the similar growth patterns of Indias GDP and steel production in
the country, which also highlights the economys dependence on steel. Today, the steel
industry contributes slightly more than 2% to the GDP of the country. This percentage
accounts for direct contribution. The indirect contribution of steel is much larger, owing
to the dependence of other sectors. The steel industry employs nearly half a million
people directly and two million people indirectly. India is currently the worlds second
largest producer of crude steel.
As per India Brand Equity Foundation (IBEF) report, which is a trust
established by the Department of Commerce, Ministry of Commerce and Industry, Government
of India, finished steel consumption of India is anticipated to increase to 230 Million
Ton by 2030-31 from 133.596 Million Ton in FY22.
Our company manufactures Steel and Alloy steel Sand casting single
piece weight from 20 Kgs. to 3300 kgs. As of now some variations were noted in the demand
of the steel products but all the units of steel industry putting more efforts to maintain
and create similar demand graph in future too. We aim to perform in export as we hope
better demand because world is getting back on track and we always have emphasized on
expansion of our horizon. Your Company is committed towards of all its customers and all
other government and non-government in any situations and for that company is putting
various efforts to maintain balanced situation with minimal disturbance.
DEPOSIT
Company has not accepted any deposits and as such no amount of
Principal or Interest was out standing as of the Balance Sheet.
PARTICULARS OF LOANS, GURANTEES OR INVESTMENTS
The Company has not given any loan, Guarantee and has not made any
investments during the year under review. Your Company has not made any transactions
falling under the ambit of section 186 of the Companies Act, 2013.
RELATED PARTY TRANSCATIONS
The Company has entered in to transactions with Related Parties in
the ordinary courses of business at Arms length basis. Particulars of contracts or
arrangements with related parties referred into Section 188(1) of the Companies Act, 2013,
in the prescribed Form AOC-2 is appeared as Annexure 02 to the Boards report.
Details of related parties transactions as per accounting standard are disclosed in note
no 26 of financial statement which form part of this report.
Related party transaction policy is placed on the website of the
company at http://www.gujaratintrux.com/Investors.php
INTERNAL FINANCIAL CONTROLS AND INTERNAL AUDIT
The Companys internal audit system has been continuously monitored
and updated to ensure that assets are safe guarded, established regulations are complied
with and pending issues are addressed promptly. The audit committee reviews reports
presented by the internal auditor on a routine basis. The committee makes note of the
audit observations and takes corrective actions wherever necessary. It maintains constant
dialogue with statutory and internal auditors to ensure that internal control systems are
operating effectively. Based on its evaluation (as provided under Section 177 of the
Companies Act, 2013 and Clause 18 of SEBI Listing Regulations), the Audit Committee has
concluded that as of 31st March, 2023, the Internal Financial Controls were adequate and
operating effectively.
Your Company has implemented Periodic Review Mechanism as part of
Internal Financial Controls to review receivables, inventories, tangible and intangible
assets, investments and other financial parameters for the financial year 2022-23.
INSURANCE
The assets of the Company including buildings, plant &
machinery, stocks, additionally public liability etc. Wherever necessary and to the extent
required have been adequately insured against various risk. Moreover, Company is also
securing personal health of its employees by taking various insurance like workman
compensation, group personal accident and group mediclaim.
SEGMENT REPORTING
The Company is engaged in the Casting business only and therefore
there is only one reportable segment in accordance with the Accounting standards on
segment reporting IND-AS108 (Operating Segment).
INDUSTRIAL AND HUMAN RESOURECS
Employees are the backbone of he Company and crucial for the
organizations continued success. The Company strives to foster conducive environment to
attract and retain the best talent and ensure employee welfare with its robutst HR
policies and practices. People are a key resource at Gujarat Intrux Limited and the
Company strives to give them an enabling and fulfilling workplace. This is achieved
through sustained actions around improving health and safety, driving diversity, equity
inclusion, and facilitating them equal learning and development opportunities.
Further, the Company is taking necessary steps to recruit the required
personnel from time to time. Company has framed requisite policies through which Healthy
environment remains amongst the Employees and help us improve quality of life of our
employees. Employees are given freedom to share their views to the Management.
We are committed to fair employment practices and freedom of
expression, supported by a strong, Company wide value system.
During the year there was no instance of Strike, Lock out or another
issues related to Human Resources.
POLICY ON PRVENTION OF SEXUAL HARASSMENT OF WOMAN AT WORKPLACE
The Company has in place a policy on Prevention of Sexual
Harassment of Women at workplace in line with the requirements of the Sexual Harassment of
Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and Rules framed
there under and Internal Complaints Committee has also been set up to redress complaints
regarding sexual harassment. During the year no complaints were received by the
Company.
Your Company has always believed in providing a safe and harassment
free workplace for every individual working in Gujarat Intrux Limited premises through
various interventions and practice. The policy on prevention of sexual harassment is
placed on the website of the company at http://www.gujaratintrux.com/investors.php
It is here by stated that company has complied with provision
relating to the constitution of Internal Complaints Committee under the Sexual harassment
of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.
REMUNERATION OF DIRECTORS, KEY MANAGERIAL PERSONNEL, EMPLOYEES AND
GENERAL
Disclosures pertaining to remuneration and other details required
under Act read with Rule of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014 and amendments thereof are provided in the Annual Report.
Particulars of Employees in terms of the provision of Section 197(12) of the Act read with
Rules 5(1)(2)&(3) is attached with this report as Annexure 03.
MANAGEMENT DISCUSSION AND ANALYSIS REPROT
Management discussion and analysis report for the year under
review, as stipulated under SEBI(LODR) Regulations, 2015 and amendments thereof is
presented in separate section and forms part of the Annual Report.
CORPORATE GOVERNANCE
The Company has taken adequate steps to ensure that all mandatory
provisions of Corporate Governance as prescribed under SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015 are complied with. As per Regulation 34(3) Read
with Schedule V of SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015,a separate section on corporate governance and a certificate from the statutory
auditors of the company regarding compliance of conditions of corporate governance has
been obtained and is enclosed here with Annexure 04. Corporate Governance Report
forms part of Annual Report.
CEO & CFO CERTIFICATION
Pursuant to the Regulation 17(8) of SEBI(LODR) Regulations, 2015,
the CEO & CFO Certification for preparation of financial statements etc., is forming
part of Corporate Governance report as annexed.
NUMBER OF MEETINGS OF THE BOARD
The Board has met four(4) times during the year 2022-23, details of
which are given in the report on Corporate Governance.
DIRECTORS AND KMP
During the year, Mr. Dhiraj Dharamshibhai Pambhar (DIN-00187371)
and Mr. Ramankumar Devjibhai Sabhaya (DIN- 00569058), who were liable to retire by
rotation and offered themselves for re-appointment have been re-appointed. During the year
there were no changes in the Board of Directors of the Company. Mr. AmrutlalKalaria (DIN:
00246831) and Mr. BharatkumarM.Dhora (DIN: 00385769) of the Company retires at the ensuing
Annual General Meeting pursuant to provision of section 152(6) of the Companies Act, 2013
and being eligible offer themselves for re- appointment. Brief profile of both the
directors seeking re-appointment and other terms of re-appointment is given in Annexure
01 of the Boards Report.
Further, Mr. Niteshkumar Punjabhai Patel, Independent director (DIN:
08116404) whose term was expired on 07th May, 2023 have been re-appointed as an
Independent director for second term w.e.f. 8th May, 2023 with the approval of the Members
of the Company by way of passing resolution at an Extra-ordinary General Meeting held on
20th March, 2023.
During the year there was a change in the Key Managerial personnel,
i.e. Mr. Jay K. Rathod has given resignation and ceased as Company Secretary and
Compliance officer of the Company w.e.f. 31st May, 2022. Mr. Sagar Rajyaguru appointed as
company secretary and compliance officer as on 1? June, 2022.
In terms of the Rule 6 of the Companies (Appointment and Qualification
of Directors) Rules, 2014, all Independent Directors of the Company have enrolled
themselves on the Independent Directors Data bank and all our independent directors have
complied with it.
DECLARATION BY INDEPENDENT DIRECTORS AND STATEMENT ON COMPLIANCE OF
CODE OF CONDUCT
It is hereby stated that:
- that necessary declaration with respect to independence has been received from all the
Independent Directors of the company under section 149(7) of the Companies Act, 2013 and
as per Regulation 25(8) of the SEBI (LODR) Regulations, 2015 that he/she meets with
criteria laid down under section149(6) of the Companies Act,2013.
- Independent directors have also given declaration that they were not aware of any
circumstance or situation, which exist or may be reasonably anticipated, that could impair
or impact his ability to discharge his/her duties with an objective independent judgement
and without any external influence.
- that the Independent Directors have complied with the Code of Independent Directors
prescribed in Schedule IV to the Act.
POLICY ON DIRECTORS APPOINTMENT AND REMUNERATION
The Companys policy relating to appointment of Directors, payment
of Managerial remuneration, Directors qualifications, and positive attributes,
Independence of Directors and other related matters as provided under Section 178(3) of
the Companies Act, 2013 is furnished in Corporate Governance Report which forms part of
this Annual report and said policy is placed on the website of the Company at http://www.gujaratintrux.com/investors.php
Further, information about Managing Directors remuneration and directors sitting fees
has also disclosed in the same report.
BOARD EVALUATION
As per Companies Act, 2013 and SEBI (LODR) Regulations, 2015, Board
has made the annual evaluation of its own performance and also of its committees and
individual Directors. The performance of the board evaluated by the Board after seeking
inputs from all the directors and performance of the committees also evaluated by the
board after seeking all inputs regarding committees and its members. In the separate
meeting of independent Directors, the performance of non- independent directors, the board
as whole including Chairman of the Company was evaluated. The Board and Nomination and
Remuneration committee reviewed the performance of individual directors on the basis of
different criteria.Performance evaluation of Independent Directors was done by the entire
board, excluding the Independent Director being evaluated.
Evaluation parameters generally are knowledge and competency, duties
and responsibilities under the Code of Conduct, integrity and participation at the Board
Meeting etc.
COMMITTES OF THE BOARD
At present the Company is having five (5) Committees as mentioned
below:
- AUDIT COMMITTEE: The Company has an adequately qualified Audit Committee constituted
in accordance with the provision of section 177 of the Companies Act, 2013 and Regulation
18 of SEBI(LODR) Regulations, 2015. All the Recommendations of the Audit Committee were
accepted by the Board.
- NOMINATION AND REMUNERATION COMMITTEE:
The Company has also constituted Nomination and Remuneration
Committee Pursuant to section 178 of the Companies Act, 2013 and Regulation 19 of SEBI
(LODR) Regulations, 2015.
- STAKEHOLDER RELATIONSHIP COMMITTEE: To consider and resolve the Grievances of
stakeholders, the company has framed Stakeholders Relationship Committee in accordance
with the provision of section 178 of the Companies Act, 2013 and Regulation 20 of SEBI
(LODR) Regulations,2015.
- CORPORATE SOCIAL RESPONSIBILITY COMMITTEE: Your Company has duly constituted CSR
Committee in accordance with the provisions of section 135 of the Companies Act,
2013.During the year 2022-23, Company has spent CSR Expenditure on activities specified in
Schedule-VI of the Companies Act, 2013 and details of the same is given separately in this
Boards Report.
- RISK MANAGEMENT COMMITTEE: The Company has voluntarily framed Risk Management
Committee which mainly aims at identification of Risk level at various stages of Business
operations/activities and to manage the Risk and Evaluation. The details of composition of
committee, terms of referance and committee meeting date and other relevant details are
given in the Report on Corporate Governance.
STATEMENT FOR COMPLIANCE OF APLLICABLE SECRETARIAL STANDARDS
We the Directors of the Company here by states that Company has
complied with Secretarial Standards 1 and 2 related to Board and General Meetings to the
extend its applicable.
DIRECTORS RESOPNSIBILITY STATEMENT
Pursuant to the provisions of Section 134(3)(c) and 134(5) of the
Companies Act, 2013, your directors confirm to the best of their knowledge and belief;
- that in the preparation of the annual accounts for the year 2022-23, the applicable
accounting standards had been followed and there were no material departures in the
preparation of the annual accounts;
- that such accounting policies have been selected and applied 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 2022-23 and the
profit and loss of the company for that period;
- that the directors had taken proper and sufficient care for the maintenance of adequate
accounting records in accordance with the provisions of this Act for safe guarding the
assets of the company and for preventing and detecting fraud and other obligations;
- that the directors had prepared the annual accounts for the year ended 31st March, 2023
on going concern basis;
- that the directors had devised proper system to ensure compliance with the provisions of
all applicable laws and that such system were adequate and operating effectively.
- that the Directors had laid down internal financial controls to be followed by the
company and that such internal financial controls are adequate and operating effectively.
AUDITORS AND AUDITORS REPORT STATUTORY AUDITOR
M/s Parin Patwari & co. Firm registration number 154571W,
Chartered Accountants, Ahmedabad were appointed as statutory auditor of the company, to
hold office till conclusion of the Annual General Meeting for the financial year 2026-
2027.
The Statutory Auditor has confirmed their eligibility and submitted the
certificate in writing that they are not disqualified to hold as statutory auditor of the
Company. Further in terms of the Listing Regulations, the Auditors have confirmed that
they hold a valid certificate by the Peer Review Board of the ICAI.
STATUTORY AUDITOR REPORTS AND NO FRAUD REPORTED
The Notes on financial statements referred to in the Auditors
Report are self-explanatory and do not call for any further comments. The Auditors report
does not contain any qualification, reservation, adverse remark, or disclaimer. No fraud
has been reported by the Auditors under section 143(12) of the Companies Act, 2013
requiring disclosure in the Boards Report. SECRETARIAL AUDITOR
Pursuant to Provision of section 204 of the Companies Act, 2013,
read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules,
2014, the Board has appointed M/s. K. P. Rachchh & Co., Practicing Company Secretary,
to conduct Secretarial Audit for the financial year 2022-23.
SECRETARIAL AUDIT REPORT
Pursuant to section 204(1) of the Companies Act, 2013 and rule No.
9 of the Companies (Appointment and Remuneration Personnel) Rules, 2014 and Regulation 24A
of SEBI (LODR) Regulations, 2015 the Secretarial Audit Report for the financial year ended
on March 31st, 2023 in the prescribed format i.e. MR-3 attached in this report as Annexure
05. The Secretarial Audit Report does not contain any qualification, reservation,
adverse remark or disclaimer.
COST AUDIT
The Company is not required to conduct Cost Audit as required under
section 148 of the Companies Act, 2013.
ANNUAL RETURN
Pursuant to Section 92(3) read with Section 134(3)(a) of the Act,
the Annual return as on March 31st, 2023 is available on the Companys website on http://www.gujaratintrux.com/investors.php
financial and annual report section.
CORPORATE SOCIAL RESPONSIBILITY
In accordance with the provision of section 135 of the Companies
Act, 2013, your company has already constituted Corporate Social Responsibility (CSR)
Committee to perform social duty and spread welfare towards the society at large.
Company has framed CSR Policy and the same is displayed on the Website
of the Company at http://www.gujaratintrux.com/ investors.php In the year
2022-23, Company was required to Spent Rs. 10,71,770/- and has spent Rs. 10,80,000/- for
promotion of healthcare sector. Details of the composition of Committee, Expense to be
incurred, Expenses made is disclosed in Annual Report on CSR Activities, attached as Annexure
06 of the Boards Report. In accordance with the provision of section 135 of the
Companies Act, 2013, your company has already constituted Corporate Social Responsibility
(CSR) Committee. Mr. N.P. Patel is the Chairman of the Committee and Mr. N.C. Pithadia,
Mr. D.D. Pambhar, Mr. D.M. Dudhagara are the members of the committee.
During the year, CSR Committee has met two (2) times on 26th May, 2022
and 17th January, 2023.
DETAILS OF DIFFERENCE BETWEEN AMOUNT OF THE VALUATION DONE AT THE
TIME OF ONE TIME SETTLEMENT AND THE VALUATION DONE WHILE TAKING LOAN FROM THE BANKS OR
FINANCIAL INSTITUTIONS ALONG WITH THE REASONS THEROF:
During the year under consideration, there were no such kind of
instances by/with the company, so no details are required to be mentioned herewith.
DISCLOSURE UNDER INSOLVENCY AND BANKRUPTCY CODE, 2016:
During the year, there were no application made and no any
proceeding is pending against the Company under the Insolvency and Bankruptcy Code, 2016.
SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS
There are no significant material orders passed by the
Regulators/Courts which would impact the going concern status of the Companys operations
in future.
CONSERVATION OF ENERGY, RESEARCH AND DEVLOPMENT, TECHNOLOGY,
ABSORPTION, FOREIGN EXCHNAGE EARNINGS AND OUTGO
The information pertaining to conservation of energy, technology,
absorption, Foreign exchange earnings and outgo as required under Section 134(3)(m) of the
Companies Act, 2013 read with Rule 8(3) of the Companies (Accounts) Rules, 2015 is
furnished in Annexure 07 attached to this report.
RISK MANAGEMENT
The Company has voluntary framed Risk Management Committee who
assess and develop and identify the elements of risk and reports to the Board. In
furtherance various Risk elements and management of Risk is disclosed in the Management
Discussion and Analysis Report which is attached separately and forms part of Annual
Report.
WHISTLE BLOWER POLICY/VIGIL MECHANISM
Gujarat Intrux Limited has framed Whistle Blower policy (vigil
mechanism) which provides a format mechanism for all stakeholders, employees and directors
of the company to approach the Ethics Counselors/Chairman of the Audit Committee of the
Company and make protective disclosures about the unethical behavior towards
stakeholder/employee of the company, leak of UPSI, actual or suspected fraud or violation
of the Companys Code of Conduct. The Whistle Blower Policy is an extension of existing
Code of Conduct of the Company, which requires every employee, director, stakeholder to
promptly report to the Management any actual or possible violation of the Code or an event
he becomes aware of that could affect the business or reputation of the Company. The
disclosures reported are addressed in the manner and within the time frames prescribed in
the policy. Under the Policy, each Stakeholders, Employees and Directors of the Company
has an assured access to the Ethics Counselors/Chairman of the Audit Committee. Whistle
Blower Policy is available at the web site of the Company http://www.gujaratintrux.com/investors.php.
DEMAT SUSPENSE ESCROW/ UNCLAIMED SUSPENSE ACCOUNT
As per the SEBI circular, Your Company has opened demat suspense
escrow account with Caregrowth Broking Private Limited and during the year2022-2023
Company does not have any securities in the demat suspense account/unclaimed suspense
account.
DISCLOSURE OF CERTAIN TYPES OF AGREEMENTS BINDING LISTED ENTITIES
During the year there are no agreements entered into by the
shareholders, promoters, promoter group entities, related parties, directors, key
managerial personnel, employees of the listed entity among themselves or with the listed
entity or with a third party, solely or jointly, which, either directly or indirectly or
potentially or whose purpose and effect is to, impact the management or control of the
listed entity or impose any restriction or create any liability upon the listed entity.
ACKNOWLEDGMENT
We thank our customers, vendors, members and bankers for their
continued support during the year. We place on record appreciation for the contribution
made by our employees at all levels. Our resilience to meet challenges was made possible
by their hard work, solidarity, co-operation and support. The Directors further expressing
their sincere appreciation for the continued co- operation,support and assistance during
the year under report by the Governments and semi and non-government agencies.
for and on behalf of the Board of
Gujarat Intrux Limited
Place : Shapar (Dist. Rajkot) Ramankumar D. Sabhaya
Date : 28th July, 2023 (Chairman) DIN- 00569058
+91-9892691696
