Hindustan Adhesives Ltd Management Discussions.

(As per Regulation 34 of the SEBI Listing Regulations)


The Company is the largest integrated producer of Carton Sealing Tapes in the country and having production facilities for making BOPP Adhesive Tapes with both Acrylic and Hot-Melt technology. It also has its own adhesive making facility along with facilities for making paper cores and cartons in-house, besides multiple printing equipments, slitting and spooling facilities to make many value added import substitute products for both the domestic and international markets. The Company also produces many types of specialty tapes like Filament Tapes, Carry Handle Tapes, Tear Tapes, Tamper evident Tapes and many more.


With the focus towards becoming a leading International supplier of its products and with our efforts in supporting the vision of the Honorable Prime Minister of India for "Atmanirbhar Bharat", as also for Make in India and supply to the world, the Company has ample opportunities to utilize full capacities for production of Self Adhesive Tapes and be able to focus on building its Brand and Image as a quality supplier of Adhesive Coated Products globally.

Actual results could differ materially from those expressed or implied. Important factors that would make a difference to the Companys operations include economic conditions affecting demand- supply and price conditions in the markets in which the Companys operates, raw material availability and its prices, changes in the Governmental regulations, labour negotiations, tax laws and other statues and economic development within India.


The Company is taking proactive steps in implementing management principles well adapted to the demands of the changing environment. The company has the policy of assessing the risk and managing the business. The company is operating on a well defined plan and strategy; hence we are equipped to face any change in regulatory risk.


The Company has a well placed proper and adequate internal control system commensurating with the size and nature of its business. The Board has appointed Internal Auditors to strengthen the internal control system.

The primary objective of the internal control system is to ensure that all its assets are safeguarded and protected and prevent any revenue leakage and losses to the Company. The Company has proper system of checking and/or review of functioning of the employees. The present reporting structure ensures independence of the internal audit function and embodies best corporate governance practices.


Please refer Directors Report for financial performance of the company. Segment/product wise performance is not applicable to the company.


The company has focus to retain its manpower by providing good working conditions thereby reduce turnover ratio.

Madhusudan Bagla
Managing Director



The Members of Hindustan Adhesives Limited

We have examined the compliance of conditions of Corporate Governance by Hindustan Adhesives Limited, for the year ended March 31, 2021, as stipulated in the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The compliance of conditions of Corporate Governance is the responsibility of the management. Our examination is limited to procedures, and implementation thereof, adopted by the Company for ensuring compliance of the conditions of the Corporate Governance. It is neither an audit nor an expression of opinion on the financial statements of the Company.

In our opinion, and to the best of our information and according to the explanations given to us, we certify that the Company has complied with the conditions of Corporate Governance as stipulated in the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

We state that all investor grievances were redressed within 30 days of lodgement of grievance and as on March 31, 2021 no investor complaint is pending against the Company as per the records maintained by the Stakeholders Relationship Committee. We further state that such compliance is neither an assurance as to the future viability of the Company, nor the efficiency or effectiveness with which the management has conducted the affairs of the Company

M/s. Mukesh Agarwal and Co
Company Secretaries
(Mukesh Kumar Agarwal)
Place: New Delhi Proprietor
Date : 23.08.2021 C.P. No:3851
UDIN: F005991C000817230