Kheria Autocomp Ltd Directors Report

Ladies & Gentlemen,

Your directors take pleasure in submitting the company accounting Results for the Accounting year ended 31st March, 2024.

FINANCIAL RESULTS:

The performance during the period ended 31st March, 2024 has been as under:

(Rupees in 000)

S.No	Particulars	2023-2024	2022-2023
1	Gross Income	6,23,193.18	4,99,402.42
2	Profit Before Interest and Depreciation (EBITDA)	97,906.68	68,236.98
3	Finance Charges	18,222.36	10,705.57
4	Depreciation & Amortization	28,928.53	20,860.37
5	Profit Before Tax & Extraordinary/ exceptional items	50,755.80	36,671.04
6	Exceptional Items	-	-
7	Profit Before Tax	50,755.80	36,671.04
8	Provision for Tax- Current Tax	-	-
9	Deferred Tax	18,153.23	9,288.11
10	Net Profit After Tax	32,602.57	27,382.93
11	Balance of Profit brought forward	(27,165.05)	(54,553.93)
12	Appropriations	63.70	(5.95)
13	Surplus carried to Balance Sheet	5,373.81	(27,165.05)

OPERATIONS:

The Company continued to carry on business of Manufacturing & Assembly of Auto Components and has achieved an increased turnover of Rs 6,23,193.18 thousand as compared to Rs.4,99,402.42 thousand s in F.Y. 2022-2023 thus registering a topline growth of 24.79% during the year. The company has earned higher EBITDA of Rs. 97,906.68 thousand compared to EBITDA of Rs.68,236.98 thousand earned in Previous year which represents an increase of 43.48%. The Net profit after tax stands at Rs.32,602.57 thousand compared to Rs.27,382.93 thousand earned during the previous year which represents increase in PAT by 19.06 % as compared to previous year .

The company has been able to successfully complete the expansion plan with construction of new factory shed, installation of new machineries and Solar Power Plant at a total capital outlay of Rs. 2,47,416 thousand. The expansion resulted into increase in installed capacity by 60% and considering the new orders in hand as well as further expansion plan in the ensuing years, the management is confident of even better financial performance in the ensuing years.

In the direction of automation, the company has installed 7 numbers of additional robots on the machine for better quality of outputs and consistent production.

Dividend: In order to conserve the resources, the Board of Directors have not recommended any dividend for the year 2023-24.

Fixed Deposit : The Company has not accepted deposit from the public since inception.

Number of Board Meetings held : The Board of Directors duly met 7 times during the financial year from 1st April, 2023 to 31st March, 2024. The dates on which the meetings were held are as follows:

01/04/2023	09/05/2023	18/05/2023	22/08/2023	04/10/2023	18/11/2023	22/03/2024

DIRECTORS: Mr. Tarachand Kheria, Mrs. Suslma Kheria & Mr. Vinay Kheria continue to be on the Board. Mrs. Santosh Devi Kheria retire by rotation but she is eligible for re-appointment.

RELATED PARTY TRANSACTIONS : Details Of Related Party transactions entered during the financial year with related parties referred to in sub section (1) of Section 188 of The Companies Act,2013 are given in Note No.36 to Financial Statements.

AUDITORS:

The Statutory Auditors, M/s. V.Goyal & Associates, Chartered Accountants, Kolkata holds office till the conclusion of Annual General Meeting to be held for financial year 2023-2024. However, being eligible, they have expressed their willingness for appointment as auditors for another tenure of 5 financial years from 2024-2025 TO 2028-2029.

AUDIT OBSERVATIONS:

Auditors observations are suitably explained in notes to accounts and are self explanatory.

EXTRACT OF ANNUAL RETURN:

The details forming part of the extract of the Annual Return in Form MGT-9 is annexed herewith as Annexure-A.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS

Details of Loans, Guarantees and Investments covered under the provisions of Section 186 of the Companies Act, 2013 are given in the notes to the Financial Statements.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE EARNINGS AND OUTGO

As required under section 134(3)(m) of the Companies Act,2013, read with the Companies (Accounts) Rules,2015, the information relating to conservation of Energy, Technology Absorption and Foreign Exchange Earnings & outgo is annexed at Annexure B and forms a part of this report.

DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to Section 134(5) of the Companies Act, 2013, Directors of your Company hereby state and confirm that:

a) in the preparation of the annual accounts for the year ended 31st March, 2023, the applicable accounting standards have been followed along with proper explanation relating to material departures; b) they 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 same period; c) the directors have 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) they have prepared the annual accounts on a going concern basis;

e) they have laid down internal financial controls in the company that are adequate and were operating effectively. f) they have devised proper systems to ensure compliance with the provisions of all applicable laws and these are adequate and are operating effectively.

Registered Office: Plot No.B6,B7 & B8,Tata Vendor Park, Revenue Survey No.1,Village Northkot Pura, Taluka Sanand, Dist. Ahmedabad-382170

Dated the 05th day of June, 2024

By Order of the Board

[Signature] Tara Chand Kheria (Chairman) DIN: 00165643