Horizon Reclaim India Ltd Directors Report

To,

The Members.

Your directors have pleasure in presenting their seventeenth Annual Report on the business and operations of the company together with the Audited Statement of Accounts for the year ended 31st March, 2023.

1. Financial Summary

The Company s fnancial performance for the year under review along with previous years figures are given hereunder:

(in Rupees)

Particulars	Year ended 31 March 2022	Year ended 31** March 2023
Turnover	196490160.50	176434987 50
Profit/jLoss) before taxation	9069352.76	10545830.22
Less: Tax Expense	2282573.78	2688718.81
Balance after tax	6786778.98	7857111.41
Add: Balance B/F from the previous year	-	-
Balance Profit / (Loss) C/F to the next year	6786778.98	7857111.41

2. State of Company s Affairs and Future Outlook

The Company is dealing in manufacturing of rubber and its products. The turnover from the business is less than last year

3. Change in nature of business, if any

The company has not changed its adivity/business in the last year.

4. Dividend

For meeting the future requirement of capital, your Board of Directors of the Company do not recommend any dividend for the year under review

5. Amounts Transferred to Reserves

The Board of the company has decided not to transfer Rs 6786778.98 to reserve and surplus.

6. Deposits

The company has not accepted deposit from the members or the general public as on 31st March, 2023. There are no small depositors in the company.

7. Material Changes Affecting the Financial Position of the Company

No material changes and commitments affecting the financial position of the Company occurred between the end of the financial year to which this financial statements relate on the date of this report.

8. Details of significant and Material orders passed by the regulators or courts or tribunals impacting the going concern status and company s operations in future.

During the year under review there has been no such significant and material orders passed by the regulators or courts or tribunals impacting the going concern status and company s operations in future.

9. Changes in Share Capital, if any

During the Financial Year, there has been no change in the share capital of the Company.

a) Buy Back Of Securities

The Company has not bought back any of its securities during the year under review.

b) Sweat Equity

The Company has not issued any Sweat Equity Shares during the year under review.

c) Bonus Shares

No Bonus Shares were issued during the year under review.

d) Employees Stock Option Plan

The Company has not provided any Stock Option Scheme to the employees.

10. Change of Name/Object

The Company has not changed its name/object during the last preceding year.

11. Extract of Annual Return

The extract of Annual Return for the Financial Year not required to enclosed with this report.

12. Number of Board Meetings

A calendar of Meetings is prepared and circulated in advance to the Directors. During the year following Board Meetings were convened and held. The intervening gap between the Meetings was within the penod prescribed under the Companies Act. 2013

The following Meetings of the Board of Directors were held during the Financial Year:

SI. No.	Date of Meeting	Board Strength	No. of Directors Present
1	14-05-2022	3	3
2	03-09-2022	3	3
3	12-12-2022	3	3
4	27-02-2023	3	3

13. Particulars of Loan, Guarantees and Investments under Section 186

Complete details of LGSI covered under Sec 186 of CA, 2013. A suggestive format is provided below to provide the required details

Details of Loans:Nil (there was no fresh loan given during the year)

S L N 0	Date of maki ng loan	Details of Borrow er	Amou nt	Purpose for which the loan is to be utilized by the recipient	Time period for which it is given	Date of BR	Date of SR (if reqd)	Rate of Interes t	Securit y

Details of Investments:-Nil

SL No	Date of investm ent	Details of Investe e	Amou nt	Purpose for which the proceeds from investment is proposed to be utilized by the recipient	Date of BR	Date of SR (if reqd)	Expected rate of return

Details of Guarantee / Security Provided:Nil

SL No	Date of providing security/guar antee	Detail s of recipi ent	Amou nt	Purpose for which the security/guarant ee is proposed to be utilized by the recipient	Date of BR	Date of SR (if any)	Commissi on

14. Particulars of Contracts or Arrangements with Related Parties

There was no contract or arrangements made with related parties as defined under Section 188 of the Companies Act, 2013 during the year under review

15. Auditors:

The Auditors, M/s Sanjay Dhingra & Associates, Chartered Accountants, retire at the ensuing Annual General Meeting and, new auditors being eligible, offer themselves for appointment for a period of five years from the conclusion of this Annual General Meeting [AGM] till the conclusion of sixth AGM (being eligible and appointed for a term of five consecutive year from 2019-2024)

16. Auditors Report

The Auditors Report does not contain any qualification. Notes to Accounts and Auditors remarks in their report are self-explanatory and do not call for any further comments.

17. Disclosure about Cost Audit: N.A.

18. Secretarial Audit Report : N.A.

19. Internal Audit & Controls: N.A.

20. Conservation of Energy, Technology, Absorption, Foreign Exchange Earnings and Outgo

The provisions of Section 134(m) of the Companies Act, 2013 do not apply to our Company. There was no foreign exchange inflow or Outflow during the year under review.

21. Details of Subsidiary, Joint Venture or Associates

The Company does not have any Subsidiary. Joint venture or Associate Company.

22. Risk Management Policy

The Company has not constituted any separate risk management committee.

23. Details of Directors And Key Managerial Personnel

There was no change in the directors of the company during the last year

24. Details of significant & material orders passed by the regulators or courts or tribunal N.A.

25. Disclosures under Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013

The Company is committed to provide a safe and conducive work environment to its employees During the year under review:-

1) No of complaints of sexual harassment received in the year - 0

2) No. of complaints disposed off during the year Not applicable

26. Particulars of Employees:

There was no employee whose remuneration was in excess of the limits prescribed under section I34(3)(q) of the Companies Act, 2013 read with Rule 5(2) & (3) of rules The Companies (Appointments Remuneratbn of Managerial Personnel) Rules, 2014

27. Directors Responsibility Statement

In accordance with the provisions of Section 134(5) of the Companies Act 2013, your directors confirm that:

a) in the preparation of the annual accounts for the financial year ended 31st March. 2023, the applicable accounting standards had been followed along with proper explanation relating to material departures:

b) the directors had 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 31st March, 2023 and of the profit /toss of the Company for that period;

c) the directors had taken proper and sufficient care 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:

d) the directors had prepared the annual accounts on a going concern basis;

e) the directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively. [List of taws applicable to the company may be mentioned here]

Acknowledgment

The Directors express their sincere appreciation to the valued shareholders, bankers and clients for their supbort

Place: Saharanpur

Date v 25/09/2023