Dear Shareholders,
Your Directors take pleasure in presenting the 25th (Twenty fifth) Annual Report
together with the Audited Annual Accounts of your Company for the year ended March 31,
2023.
FINANCIAL RESULTS
(Rs. in Lakhs)
| i. Gross Turnover |
8,165.00 |
6,370.31 |
8,559.43 |
6,661.98 |
| ii. Other Income |
107.35 |
155.51 |
118.51 |
136.77 |
| iii. Total Income |
8,272.35 |
6,525.82 |
8677.94 |
6,798.75 |
| iv. Expenses other than Finance Cost and Depreciation |
7,649.65 |
5,872.57 |
8041.94 |
6,162.11 |
| v. Earnings Before Interest, Depreciation, Taxation and Amortization (EBIDTA) |
622.70 |
653.25 |
636.00 |
636.64 |
| vi. Finance Cost |
5.03 |
2.24 |
5.03 |
2.24 |
| vii. Depreciation |
28.69 |
25.28 |
28.69 |
25.29 |
| viii. Profit/(Loss) before Tax & Exceptional Item |
588.98 |
625.73 |
602.28 |
609.11 |
| ix. Exceptional Items |
0.00 |
0.00 |
0.00 |
0.00 |
| x. Profit before Taxation (PBT) |
588.98 |
625.73 |
602.28 |
609.11 |
| xi. Tax including Deferred Tax |
(158.02) |
(152.72) |
(166.69) |
(182.80) |
| xii. Profit after Taxation (PAT) |
430.96 |
473.01 |
435.59 |
426.31 |
| xiii. Other Comprehensive Income |
(51.29) |
157.70 |
(57.84) |
183.00 |
| xiv. Total Comprehensive Income |
379.67 |
630.71 |
377.75 |
609.31 |
| xv. (Profit) / Loss of minority interest |
- |
- |
3.69 |
3.23 |
STATE OF COMPANYS AFFAIRS AND OPERATIONS
During the year under review, your Company on standalone basis has achieved a total
income of H8,272.35 lakhs which is 26.76% higher as compared with the previous financial
year. Further, the Company has earned a net profit of H430.96 lakhs in the
financial year 2022-23. The Company has produced 20,709.07 MT of Sodium Silicate and
Construction Chemicals during the financial year as compared to 16,802.38 MT of Sodium
Silicate and Construction Chemicals in the previous financial year which is 23.25 % higher
as compared with the corresponding previous financial year.
OUTLOOK
As a company in the construction chemicals industry with a diverse range of over 160
products, we have established ourselves as a one-stop solution for our customers. Our
dedication to providing top-notch products is evident through our ISO 9001:2015 and ISO
22716:2007 certifications, highlighting our adherence to strict quality management
standards.
Currently, only a small portion of our total revenue comes from
the retail segment. However, our goal is to significantly increase this portion, aiming
to grow the revenue contribution from retail by 10 times over the next 5 years. Our
high-quality products and long-standing relationships with retailers fuel this ambition.
To further enhance our market presence, we plan to expand our product portfolio by
adding 5 to 10 new products each year for the next 5 years. This strategic move will
enable us to cater to broader customer needs and capture additional market segments.
Overall, with our dedication to quality, expansion of the product range and increased
production capacity, our company is poised for significant growth and success in the
coming years.
Your Company is setting up a new plant at Munshirhat, West Bengal at a Capital outlay
of H8 Crores (Approx.). The land has already been acquired and development of land is in
progress. In this plant the Company has decided for Backward & Forward integration of
its products and manufacturing of new products line in Chemical sector. The Commercial
production in the new plant is commenced and it will add significantly in the both top and
bottom line of the Company in FY 2023-24.
CHANGE IN NATURE OF BUSINESS, IF ANY
During the year, there was no change in the nature of business of the Company and the
Company continues to concentrate on its own business.
DIVIDEND
In order to meet the cost of the new project from internal accruals, to the extent
possible, your Board has decided to escape dividend for the financial year 2022-23.
SHARE CAPITAL
The paid up equity share capital as on March 31, 2023 stood at H10,23,81,250/-
comprising of 1,02,38,125 shares of H10/- each fully paid.
Your Company has not issued any equity shares, equity shares with differential rights,
Sweat equity shares, Employees Stock Options and did not purchase its own shares. Hence
there is no information to be provided as required under Rule 4(4), Rule 8(13), Rule 12(9)
and Rule 16(4) of the Companies (Share Capital and Debentures) Rules, 2014 and Section 62
of the Companies act 2013, respectively.
DEPOSITS
Your Company has not accepted any deposit from the public falling within the ambit of
Section 73 of the Companies Act, 2013 and the Companies (Acceptance of Deposits) Rules,
2014 during the year under review.
TRANSFER TO RESERVE
The Company has not transferred any amount in the general reserve for the financial
year under review.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to the Directors Responsibility Statement as referred to in section 134(3)(c)
and 134(5) of the Companies Act, 2013, your Directors hereby confirm that:
- In the preparation of the annual accounts for the financial year ended 31st March, 2023,
the applicable accounting standards have been followed along with proper explanation
relating to material departures;
- 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 at the end of the financial year and of the profit
of the company for the year ended on 31st March, 2023;
- The Directors have taken proper and sufficient care for the maintenance of adequate
accounting records in accordance with the provisions of this Act for safeguarding the
assets of the Company and for preventing and detecting fraud and other irregularities;
- The Directors have prepared the annual accounts for the
financial year ended 31st March, 2023 on a going concern basis;
- The Directors, have laid down internal financial controls to be followed by the company
and that such internal financial controls are adequate and were operating effectively; and
- The Directors have devised proper systems to ensure compliance with the provisions of
all applicable laws and that such systems were adequate and operating effectively.
CONSERVATION OF ENERGY, RESEARCH & DEVELOPMENT, TECHNOLOGY ABSORPTION,
FOREIGN EXCHANGE EARNINGS AND OUTGO
Information related to Conservation of Energy, Research & Development,
Technology Absorption, Foreign Exchange Earnings and Outgo as required under section
134(3)(m) of the Companies Act, 2013 and Rule8(3) of Companies (Accounts) Rules, 2014 are
given in the"Annexure–A" as attached hereto and forming part of this
Report.
CORPORATE GOVERNANCE
The Companys philosophy of Corporate Governance aims at establishing and
practicing a system of good corporate governance which helps in achieving the goal of
maximizing value of Companys stakeholders in a sustainable manner.
Your Companys Governance structure is built on transparency, integrity, ethics,
honesty and accountability as core values, and the management believes that practicing
each of these creates the right corporate culture attaining the purpose of Corporate
Governance. Your Company strives to undertake best Corporate Governance practices for
enhancing and meeting stakeholders expectations while continuing to comply with the
mandatory provisions of Corporate Governance under the applicable framework of SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015.
Your Company has given its deliberations to provide all the information in the
Directors Report and the Corporate Governance Report as per the requirements of the
Companies Act, 2013, SEBI (Listing Obligations and Disclosure Requirements) Regulations
2015and the Listing Agreement entered by the Company with the Stock Exchanges.
Pursuant to Regulation 34(3) read with Schedule V of The Securities & Exchange
Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 the
applicable Regulations as issued by Securities and Exchange Board of India and as amended
from time to time. A report on Corporate Governance along with a certificate from Mr.
Santosh Kumar Tibrewalla, Practicing Company Secretary regarding compliance of conditions
of Corporate Governance attached to this report and marked as Annexure –‘B
& C respectively.
The certification by CEO & CFO as per regulation 15(2)(b) of SEBI (Listing
Obligation and Disclosure Requirements) Regulations, 2015 is attached and marked as Annexure
–‘D.
CODE OF CONDUCT
The Board of Directors has adopted the Code of Conduct and business principles
for all the Board members including Executive/ Non-Executive Directors, senior management
and all the employees of the Company and the same has also been placed on the website of
the Company at https://hindcon.com/ wp-content/uploads/2020/12/Code-of-Conduct-Final.pdf.
The Board Members and Senior Management have affirmed their compliance with the Code
and pursuant to Regulation 26(3) read with Schedule V of SEBI (Listing Obligations and
Disclosure Requirements) Regulations 2015 a declaration signed by the Managing Director
(CEO) to this affect is at Annexure-E.
MANAGEMENT DISCUSSIONS & ANALYSIS REPORT
The Management Discussion and Analysis Report, in terms of Regulation 34 (3) of
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, forms the part
of this Annual Report as enclosed "Annexure–F"
COMPANYS WEBSITE
The website of your Company www.hindcon.com displays the Companys
businesses up-front on the home page. The site carries a comprehensive database of
information of all the Chemicals and Chemical products including the Financial Results of
your Company, Shareholding Pattern, Directors & Corporate profile, details of Board
Committees, Corporate Policies and business activities of your Company.
All the mandatory information and disclosures as per the requirements of the Companies
Act, 2013 and Companies Rules 2014 and as per the SEBI ( LODR) Regulations, 2015 has been
uploaded.
LISTING OF SECURITIES IN STOCK EXCHANGE
The shares of the Company are listed at the National Stock Exchange of India
Limited (NSE). The Company is registered with both NSDL & CDSL for holding the shares
in dematerialized form and open for trading. The Company has paid Listing Fees to the
Stock Exchange and the depositories.
DIRECTORS AND KEY MANAGERIAL PERSONNEL (KMP)
- Retirement by Rotation:
Mr. Ramsanatan Banerjee (DIN: 05191594), Executive Director of the Company,
pursuant to the provisions of Section 152(6) and other applicable provisions of the
Companies Act, 2013, retiring by rotation at the ensuing Annual General Meeting and being
eligible, offered himself for re-appointment.
- Appointment /Re-appointment of Executive Directors / Independent Directors:
During the year under review Mr. Krishna Kumar Tantia (DIN: 00315796), Independent
Director had resigned w.e.f. 28th
May, 2022 and Mr. Sudhir Kumar Bhartia (DIN: 00644721) has been appointed as an
Independent Director of the Company
w.e.f. 28th May, 2022. The shareholders in the last Annual General Meeting has also
approved the appointment of Mr. Bhartia.
- Appointment and Resignation of Whole-time Key Managerial Personnel (KMP):
The present Whole-time Key Managerial Personnel of the Company are as follows:-
- Mr. Sanjay Goenka– Chairman & Managing Director
- Mr. Kashi Nath Dey– Chief Financial Officer
- Ms. Ankita Banerjee– Company Secretary & Compliance Officer
Ms. Jaya Bajpai had resigned from the office of Company Secretary & Compliance
Officer (designated as the Whole time Key Managerial Personnel) of the Company with effect
from 1st September, 2022, pursuant to the provisions of Section 203 and other applicable
provisions of the Companies Act, 2013, the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014 and SEBI (Listing Obligation and Disclosure
Requirements) Regulations, 2015.
Ms. Ankita Banerjee was appointed as the Company Secretary & Compliance Officer
(designated as the Whole time Key Managerial Personnel) of the Company by the Board at its
meeting held on 14th November, 2022 with effect from 15th November, 2022, pursuant to the
provisions of Section 203 and other applicable provisions of the Companies Act, 2013, the
Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and SEBI
(Listing Obligation and Disclosure Requirements) Regulations, 2015.
None of the Directors of the Company are disqualified as per section 164(2) of the
Companies Act, 2013and rules made thereunder or any other provisions of the Companies Act,
2013. The Directors have also made necessary disclosures to the extent as required under
provisions of section 184(1) of the Companies Act, 2013.
All members of the Board of Directors and senior management personnel affirmed
compliance with the Companys Code of Conduct policy on an annual basis.
- Declaration by Independent Directors
The Company has received declarations from all the Independent Directors of the Company
confirming that:
- they meet the criteria of independence as prescribed under section 149 of the Companies
Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements)
Regulations 2015; and
- they have registered their names in the Independent Directors Databank pursuant to
Sub-rule (1) and
(2) of Rule 6 of the Companies (Appointment and Qualifications of Directors) Rules,
2014 and amendments thereto.
AUDITORS AND THEIR REPORTS
- Statutory Auditors:
M/s R. B. Roy & Co., (Firm Registration No. 322805E), Chartered Accountants,
were appointed as the Statutory Auditors of the Company for a period of 5 (five) years and
would continue to hold the office of Auditors till the conclusion of the 26th AGM of the
Company to be held for the Financial Year 2023-24 in accordance to Section 139 of the
Companies Act, 2013 and rules made thereunder.
The Auditors Report does not contain any qualification, reservation, adverse remark or
disclaimer.
The observations, if any, made by the Statutory Auditors in their Auditors Report
together with the notes to accounts, as append thereto are self-explanatory and hence does
not call for any further explanation.
- Internal Auditor:
M/s. Amit Ved Garg & Co., Chartered Accountants, continued to be the Internal
Auditors of the Company to carry out the Internal Audit for the year 2022-23 under the
provisions of section 138 of the Companies Act, 2013.
The Company has received consent letter from M/s. Amit Ved Garg & Co., Chartered
Accountants, for their re- appointment as the Internal Auditors of the Company for the
financial year 2023-24 and the Board has re-appointed them accordingly.
- Secretarial Auditors:
Mr. Santosh Kumar Tibrewalla, Practicing Company Secretary ( Peer Reviewed), continued
to be the Secretarial Auditor of the Company to carry out the Secretarial Audit for the
year 2022-23 under the provisions of section 204 of the Companies Act, 2013 read with The
Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and
Regulation 24A of SEBI (Listing Obligations and Disclosure Requirements), Regulations,
2015. The report of the Secretarial Auditor MR-3 for the financial year 2022- 23 is
enclosed as Annexure ‘G to this Boards Report, which is self-explanatory and
hence do not call for any further explanation.
The Company has received consent letter from Mr. Tibrewalla for his re-appointment as
the Secretarial Auditor of the Company for the financial year 2023-24 and the Board has
re-appointed him accordingly.
CODE OF CONDUCT FOR PREVENTION OF INSIDER TRADING
In terms of the SEBI (Prohibition of Insider Trading) Regulations, 2015, your Company
has adopted the Code of Conduct to regulate, monitor and report trading by designated
persons
towards prevention of Insider Trading. Further, in accordance with the provisions of
Regulation 8 of SEBI (Prohibition of Insider Trading) Regulations, 2015, the Board of
Directors of the Company has duly approved and adopted the code of practices and procedure
for fair disclosure of Un-published Price Sensitive Information and formulated the code of
conduct of the Company.
The code is applicable to Directors, Employees, Designated Person and other connected
persons of the Company; the aforesaid code of conduct for prevention of Insider Trading is
duly placed on the Website of the Company at www.hindcon.com.
DISCLOSURES AS PER APPLICABLE ACT AND SEBI (LODR) REGULATIONS, 2015
- Related Party Transactions:
All transactions entered with related parties in the ordinary course of business
during the F.Y. 2022-23 on arms length basis were done in accordance to omnibus approval
of Audit Committee and other transactions which are not on arms length basis are done
with due approval of Audit Committee and Board in accordance to the provisions of Section
188(1) of the Act and applicable SEBI (LODR) Regulations, 2015.
There was no materially significant related party transactions with the Companys
Promoters, Directors and others as defined in section 2(76) of the Companies Act, 2013 and
the SEBI (LODR) Regulations, 2015 which may have potential conflict of interest with the
Company at large. Details of contracts which are not on arms length basis and material
transaction on arms length basis are detailed in Form AOC- 2 and annexed as
"Annexure –Rs." to the Boards Report.
The other disclosures regarding the related party transactions are given in the notes
to accounts. The Company has also formulated a policy on dealing with the Related Party
Transactions and necessary approval of the Audit Committee and Board of Directors were
taken wherever required in accordance with the Policy.
- Particulars Of Employees And Managerial Remuneration:
Disclosure pertaining to remuneration and other details as required under Section
197 of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014 are provided in this Report as "Annexure
–I"
In terms of the provisions of Section 197(12) of the Act read with Rules 5(2) and 5(3)
of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, as
amended, a statement showing the names and other particulars of the employees drawing
remuneration in excess of the limits set out in the said rules are provided in the Annual
Report, which forms part of this Report.
- Number of Board Meetings:
During the financial year ended March 31, 2023, 5 (five) Board
Meetings were held on 28th May, 2022, 18th July, 2022, 12th August, 2022, 14th
November, 2022 and 9th February, 2023.
The gap between any two consecutive meetings was in accordance to the Regulation 17(2)
of Securities & Exchange Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015 with the Stock Exchanges, Secretarial Standards and the
provision of Companies Act, 2013.
The attendance details of each Director at the Board meetings held during their tenure
is given herein below:
5
5
5
5
5
4
Registered Office of the Company.
Evaluation of the Boards Performance:
During the year under review, the Board, in compliance with the Companies Act, 2013
and applicable Regulations of Securities & Exchange Board of India (Listing
Obligations and Disclosure Requirements) Regulations, 2015, has continued to adopt formal
mechanism for evaluating its performance and as well as that of its Committees and
individual Directors, including the Chairman of the Board. The exercise was carried out
through a structured evaluation process covering various aspects of the Boards functioning
such as composition of the Board & Committees, experience & competencies,
performance of specific duties &obligations, governance issues etc. Separate exercise
was carried out to evaluate the performance of individual Directors including the Board,
as a whole and the Chairman, who were evaluated on parameters such as their participation,
contribution at the meetings and otherwise, independent judgements, safeguarding of
minority shareholders interest, etc.
The evaluation of the Independent Directors was carried out by the entire Board and
that of the Chairman and the Non- Independent Directors, Committees of the Board and Board
as a whole were carried out by the Independent Directors in their separate meeting.
The Directors were satisfied with the evaluation results, which reflected the overall
engagement of the Board and its Committees with the Company.
-
- Committees of the Board:
As on March 31, 2023 the Board had four Committees: the Audit Committee, the Nomination
and Remuneration Committee, the Stakeholders Relationship Committee and Corporate Social
Responsibility Committee.
- Audit Committee:
The Board had constituted the Audit Committee under the applicable provisions of
the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015.
The Composition of the Committee and other details of the Committee are given in the
Corporate Governance Report, attached as Annexure to this Boards Report
Recommendation by Audit Committee
There were no such instances where the recommendation of Audit Committee has not
been accepted by the Board during the financial year under review.
Vigil Mechanism Policy
By virtue of Vigil Mechanism Policy, the Directors and employees of the Company are
encouraged to escalate to the level of the Audit Committee any issue of concerns impacting
and compromising with the interest of the Company and its stakeholders in any way. The
Company is committed to adhere to highest possible standards of ethical, moral and legal
business conduct and to open communication and to provide necessary safeguards for
protection of Directors or employees or any other person who avails the mechanism from
reprisals or victimization, for whistle blowing in good faith. This policy also allows the
direct access to the Chairperson of the Audit Committee. During the year under review, the
Company has not reported any complaints under Vigil Mechanism.
Details of establishment of the Vigil Mechanism have been uploaded on the Companys
website: www.hindcon.com.
- Nomination and Remuneration Committee:
The Board had constituted the Nomination & Remuneration Committee under the
applicable provisions of the Companies Act, 2013 and the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015.
The Composition of the Committee and other details of the Committee are given in the
Corporate Governance Report, attached as Annexure to this Boards Report.
Nomination, Remuneration and Evaluation Policy: Pursuant to the provisions of
the Companies Act, 2013 read with the Rules made therein and the SEBI (Listing Obligations
& Disclosure Requirements) Regulation, 2015 (as amended from time to time), the
Committee has formulated the Nomination and Remuneration Policy which broadly laid down
the various principles of remuneration being support for strategic objectives,
transparency, internal &
external equity, flexibility, performance driven remuneration, affordability and
sustainability and covers the procedure for selection, appointment and compensation
structure of Board members, Key Managerial Personnel (KMPs) and Senior Management
Personnel (SMPs) of your Company.
The detailed Nomination & Remuneration Policy of the Company is placed on the
Companys website and can be viewed at: http://www.hindcon.com/wp-content/ uploads/2018/05/Nomination-Remuneration-Policy-Final.
pdf
- Composition of Stakeholders Relationship Committee: The Board had constituted the
Stakeholder Grievance Committee under the applicable provisions of the Companies Act, 2013
and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The Composition of the Committee and other details of the Committee are given in the
Corporate Governance Report, attached as Annexure to this Boards Report.
- Composition of Corporate Social Responsibility Committee:
The Board had constituted the Corporate Social Responsibility Committee under the
applicable provisions of the Companies Act, 2013 and the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015.
The Composition of the Committee and other details of the Committee are given in the
Corporate Governance Report, attached as Annexure to this Boards Report
Further, details regarding CSR Activities / Initiatives undertaken by the Company are
mentioned in the ‘Annual Report on CSR Activities enclosed as "Annexure
–J" to this Report. The CSR policy is also uploaded on the Companys website
i.e. on www.hindcon.com.
- Meeting of Independent Directors for FY 2022-23:
During the year under review, the Independent Directors of the Company met once on
9th February, 2023 to carry out the evaluation of the Non-Independent Director and of the
Board as a whole.
- Annual Return:
Pursuant to Section 134(3)(a) of the Companies Act, 2013 and amendments thereof,
the Annual Return of the Company is placed on the website of the Company at the following
link www.hindcon.com
- Risk Analysis:
The Board has developed and implemented a risk management policy identifying
therein the elements of risk that may threaten the existence of the Company. The Company
has in place a mechanism to inform the Board members about the risk assessment, their
comparison against benchmarks or standards, and determination of an
acceptable level of risk and mitigation plans and periodical reviews to ensure that the
critical risks are controlled by the executive management.
- Internal Financial Control:
The Company has in place adequate internal financial control as required under
section 134(5)(e) of the Act and the same was evaluated by the Audit Committee. During the
year such controls were tested with reference to financial statements and no reportable
material weakness in the formulation or operations were observed. The Statutory Auditors
of the Company conducted audit on the Companys internal financial control over financial
reporting and the report of the same is annexed with Auditors Report.
- Disclosure Relating To Material Variations:
As per Regulation 32(1) of SEBI (Listing Obligations and Disclosure Requirements)
Regulation, 2015, there are no such material variances in the Company.
- Loans, Guarantees and Investments:
During the year under review, your Company has invested and deployed its surplus
funds in Securities, Bonds, units of Mutual Funds, Fixed deposits, etc. which is within
the overall limit of the amount and within the powers of the Board as applicable to the
Company in terms of Section 179 and 186 of the Companies Act, 2013.
The particulars of loans, guarantees and investments have been disclosed in the notes
of the Financial Statements for the year ended 31st March, 2023 and form a part of this
Annual Report.
- Material changes and commitments, if any, affecting the financial position between the
end of the financial year and date of the report:
There is no material change since the closure of the financial year till the date
of the report affecting any financial position of the Company.
- Subsidiaries, Associates or Joint Ventures:
As on 31st March, 2023 Company has only one Subsidiary Company viz. Hindcon
Solutions Private Limited. (Formerly known as Padmalaya Vinimay Private Limited)
The consolidated financial statement in this Annual Report is as per the Accounting
Standards as laid down by the Institute of Chartered Accountants of India. In accordance
with Section 136 of the Companies Act, 2013, the audited financial statements, including
the consolidated financial statements and related information will also be available on
our website including financial statement of Subsidiary Company. These documents will also
be available for inspection during business hours at the Registered Office of the Company.
The Company will also make available copy on specific request by any member of the
Company, interested in obtaining the same.
Further a statement containing the salient features of the financial statement of our
Subsidiary Company in the prescribed format AOC-1 is appended as "Annexure–K"
to this Boards Report.
- Secretarial Standards
Secretarial Standards, i.e. SS-I, SS-II and SS-III, relating to ‘Meetings of
the Board of Directors, ‘General Meetings and ‘Dividend respectively, to the
extent as applicable have been duly followed by the Company.
- Internal Complaint Committee
The Company has complied with provisions relating to the constitution of Internal
Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013.
THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL)
ACT, 2013
The Company has in place an Anti-Sexual Harassment Policy in line with the requirements
of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal)
Act, 2013. Internal Complaints Committee (ICC) has been set up to redress complaints
received regarding sexual harassment. All employees (permanent, contractual, temporary,
trainees) are covered under this Policy. The Policy is gender neutral. During the year
under
review, no complaints with allegations of sexual harassment were filed.
INDUSTRIAL RELATIONS
The industrial relation during the year 2022-23 had been cordial. The Directors take on
record the dedicated services and significant efforts made by the Officers, Staff and
Workers towards the progress of the Company.
SIGNIFICANT & MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR
TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANYS OPERATIONS IN
FUTURE
There have been no significant & material orders passed by regulators / courts /
tribunals impacting going concern status and Companys operations in future.
APPRECIATION
Your Directors take this opportunity to place on record their gratitude to the Central
and State Governments, Bankers and Investors for their continuous support, co-operation
and their valuable guidance to the Company and for their trust reposed in the Companys
management. The Directors also commend the continuing commitment and dedication of the
employees at all levels and the Directors look forward to their continued support in
future.
On behalf of the Board of Directors For Hindcon Chemicals Limited
Registered Office: sd/- sd/-
62B, Braunfeld Row, Sanjay Goenka Nilima Goenka
Kolkata – 700 027 Chairman & Managing Director Whole time Director
July 22, 2023 DIN: 00848190 DIN: 00848225
+91-9892691696
