Kilitch Drugs (India) Ltd Directors Report.

To,

The Members,

KILITCH DRUGS (INDIA) LIMITED

Your Directors have pleasure in presenting their 29th Annual Report on the business and operations of your Company for the year ended 31st March 2021.

1. FINANCIAL RESULTS

The summarized financial performance (Standalone & Consolidation) of the Company for the financial year ended 31st March 2021 is given below:

[Amount in Lakhs]

Particulars

Standalone

Consolidated

2020-21 2019-20 2020-21 201 9-20
Revenue from Operations 7001.68 6076.80 6852.31 5332.00
Other Income 419.43 570.92 266.73 412.55
Total Revenue 7421.11 6647.72 7119.04 5744.55
Total Expenses 6670.28 6125.48 6607.08 5583.82
Profit/(Loss) before exceptional and extraordinary items and tax 750.83 522.24 511.96 160.73
Exc eptional Items - - - -
Extraordinary Items - - - -
Net Profit Before Tax 750.83 522.24 511.96 160.73
Provision for Tax
- Current Tax 166.55 69.58 166.55 69.58
- Deferred Tax (Liability)/Assets (31.26) 6.95 (31.25) 6.95
Net Profit After Tax 615.54 445.71 376.66 84.20
Profit/(Loss) from continuing operations 615.54 445.71 376.66 84.20
Other Comprehensive Income (After Tax) 522.87 (310.91) 522.87 (310.91)
Total Comprehensive income for the period (Comprising Profit (Loss) and Other Comprehensive Income for the period) 1138.41 134.80 899.53 (226.71)
Paid up Equity Share Capital (Face Value 1549.45 1543.42 1549.45 1543.42
Rs. 10/- per Share)
Other Equity 14743.96 13621.29 11163.42 10281.84
Earning per share (for continuing operation)
(Amount in Rs.)
- Basic 3.98 2.89 2.37 0.55
- Diluted 3.98 2.89 2.37 0.55

2. REVIEW OF OPERATIONS:

Standalone: -

During the year under review, the Company has posted total Income of Rs. 7421.11 Lakhs as against Rs. 6,647.72 Lakhs for the corresponding previous year.

Further, total Comprehensive income for the period was Rs. 1138.41 Lakhs as against Rs. 134.80 Lakhs for the corresponding previous year.

Consolidated: -

During the year under review, the Company has posted total Income of Rs. 7119.04 Lakhs as against Rs. 5,744.55 Lakhs for the corresponding previous year.

Further, total Comprehensive profit for the period was Rs. 899.53 Lakhs as against total loss of Rs. 226.71 Lakhs for the corresponding previous year.

3. STATEMENT OF AFFAIRS AND FUTURE OUTLOOK:

Our success is attributed to African market and with a view to enhance our relationship with Ethiopia, Indo-Ethiopian Chamber of Commerce and Industry (IECC) was established. IECC is a Section 8 Company which intends to promote, foster and facilitate trade, commerce and industrial development between India and Ethiopia. We expect a promising future in the upcoming years.

We are pleased to bring to your notice that our project at Addis Ababa, Ethiopia is operational and we have commenced the production of Cephalosporin Injectables at our Ethiopian Plant. We are capable of manufacturing 26.4 million vials per annum whereas the Ethiopian demand is 16 million vials. We also aim to export the injectables to other African countries.

Further to help fight against COVID-19 pandemic, we are working towards introducing an effective and low-cost drug. We are in the process of obtaining requisite approvals for the same.

With a view to further expand our presence, we plan to invest in building two greenfield facilities. Accordingly we are considering identification of land for the same in the vicinity of our Navi Mumbai plant. With your endless support and belief and the dedication of our employees we were able to achieve these milestone even in these difficult times.

4. MANAGEMENT DISCUSSION AND ANALYSIS :

The Management Discussion and Analysis Report, which gives a detailed state of affairs of the Companys operations forms part of this Annual Report as Annexure 1.

5. DIVIDEND AND RESERVES:

The Directors do not recommend dividend for the financial year ended 31st March 2021 with a view to retain internal accruals that will be used for the expansion of the Company.

6. SHARE CAPITAL:

The Paid-up Equity Share Capital of the Company as on 31st March, 2021 is Rs. 1549.45 Lakhs, comprising of 15494544 Equity Shares of Rs. 10/- each as against Rs. 1543.42 Lakhs, comprising of 15434190 Equity Shares of Rs. 10/- each in the previous year.

Pursuant to the Companys Employees Stock Option Scheme (ESOS Scheme), the Board of Directors at their meetings held on 25th May 2020 and 6th October 2020 approved the allotment of 44883 and 15471 Equity Shares respectively.

7. EMPLOYEE STOCK OPTION SCHEME:

During the year under review, the Company allotted 60,354 Equity Shares of Rs. 10 each upon exercise of stock options by eligible employees under the ESOP Scheme. The Company at its 28th AGM had received members approval for the ESOP Scheme 2020.

There has been no material change in ESOP Scheme during the current financial year. The ESOP Scheme is in compliance with Securities Exchange Board of India (Share Based Employee Benefit) Regulations, 2014. The disclosures relating to ESOPs required to be made under the provisions of Rule 12 of the Companies (Share Capital and Debentures) Rules, 2014 is as follows:

Sr. No. Particulars Options
a Options Outstanding at the beginning of the year 196389
b options granted -
c options vested 67,270
d options exercised / settled 60,354
e the total number of shares arising as a result of exercise of option 60,354
f options lapsed 30,005
g the exercise price Rs. 10/-
h variation of terms of options -
i money realized by exercise of options Rs. 6,03,540
j total number of options in force 1,06,030
k employee wise details of options granted to: -
(i) key managerial personnel
1. Su nil Jain- CFO -
2. Garima Trivedi - Company Secretary & Compliance Officer -
(ii) any other employee who receives a grant of options in any one year of option amounting to five per cent or more of options granted during the year
(iii) identified employees who were granted option, during any one year, equal to or exceeding one per cent of the issued capital (excluding outstanding warrants and conversions) of the company at the time of the grant

8. DIRECTORS AND KEY MANAGERIAL PERSONNEL

Inductions /Appointment or Re-appointment of Director/ KMP

1. At the 28th Annual General Meeting ("AGM") held on 30th September 2020, Mr. Hemang Engineer was appointed as the Non-Executive Independent Director for a period of 5 years w.e.f. 1st April 2020.

2. At the meeting of the Board of Directors of the Company held on 22nd June 2021, on the recommendation of the Nomination and Remuneration Committee, Mr. Mukund Mehta [DIN: 00147876]] was re-appointed as the Managing Director with the designation as Executive Director of the Company for another period of five years with effect from 1st April 2021 (i.e. From 1st April 2021 to 31st March 2026) on the terms of remuneration as may be approve by members. A Resolution in this behalf is set out at Item No. 4 of the Notice of Annual General Meeting, for Members approval.

3. Mr. Bhavin Mehta was re-appointed as the Whole-time Director of the Company at the 25th AGM of the Company held on 29 September 2017 for a period of 5 years commencing from 1 September 2017. Further, considering the contribution made by Mr. Bhavin Mehta and the progress made by the Company under his guidance and as per the recommendation of Nomination and Remuneration Committee, the Board at its meeting held on 22 June 2021 has approved the revision in remuneration of Mr. Bhavin Mehta w.e.f. 1st April, 2021 for his remaining term, on the terms of remuneration as may be approve by members. A Resolution in this behalf is set out at Item No. 5 of the Notice of Annual General Meeting, for Members approval.

4. The Nomination and Remuneration Committee has completed the annual performance appraisal of all the executive directors of the Company. In view of the Board of Directors at its Meeting held on 13 August 2021, approved the revision in remuneration of Mrs.Mira Bhavin Mehta, w.e.f. 1st April, 2021 for her remaining term on the terms of remuneration as may be approve by members. A Resolution in this behalf is set out at Item No. 6 of the Notice of Annual General Meeting, for Members approval.

5. The Board of Directors at their Meeting held on 26th February 2021 appointed Mr. Sunil Jain as the Chief Financial Officer and Ms. Garima Trivedi (A62636) as the Company Secretary & Compliance Officer of the Company w.e.f 1st March 2021.

Retire by Rotation

In accordance with section 152(6) of the Companies Act, 2013 and in terms of Articles of Association of the Company Mrs. Mira Mehta (DIN:01902831), Whole time Director of the Company, retires by rotation and being eligible; offers herself for reappointment at the forthcoming AGM.

The Board recommends the said reappointment for shareholders approval.

All the directors of the Company have confirmed that they satisfy the fit and proper criteria as prescribed under the applicable regulations and that they are not disqualified from being appointed as directors in terms of Section 164(2) of the Companies Act, 2013.

Cessation of Director/ Key Managerial Personnel

During the year under review, Ms. Sunita GohiL, Company Secretary and Mr. Sujit Kumar Dash, Chief Financial Officer resigned w.e.f. 1st March 2021. The Board places on record its appreciation for the invaluable contributions and guidance provided by them, during their stint with the Company.

Pursuant to Section 203 of the Companies Act, 2013, Key Managerial Personnel of the Company as on 31st March 2021, details are as under:

Sr. No. Name of KMP Designation
1. Mr. Mukund Prataprai Mehta Managing Director
2. Mr. Bhavin Mukund Mehta Whole - time Director
3. Mrs. Mira Bhavin Mehta Whole - time Director
4. Mr. Sunil Jain Chief Financial Officer
5. Ms. Garima Trivedi Company Secretary anc Compliance Officer

9. INDEPENDENT DIRECTORS

The Independent Director(s) have submitted their disclosure to the Board that they fulfill all the requirements as to qualify for their appointment as Independent Director, under the provisions of section 149 of the Companies Act, 2013 as well as Regulation 17 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

10. DISCUSSIONS WITH INDEPENDENT DIRECTORS

The Boards policy is to regularly have separate meetings with Independent Directors, to update them on all business related issues, new initiatives and changes in the industry specific market scenario. At such meetings, the Executive Directors and other Members of the Management make presentations on reLevant issues.

The policy for Familiarisation Programme for Independent Directors is available on our website www.kilitch.com.

11. BOARD EVALUATION

Pursuant to the provisions of the Companies Act, 2013 and the SEBI (LODR) Regulations, 2015, the Board has carried out an annuaL performance evaLuation of its own performance, the directors individually as well as the evaluation of the working of its Committees. The Directors expressed satisfaction with the evaluation process. The manner in which the evaluation has been carried out has been explained in the Corporate Governance Report.

12. NUMBER OF BOARD MEETINGS

A caLendar of meetings is prepared and circuLated in advance to the Directors. During the year, 7 (Seven) Board Meetings were convened and held, the details of which are given in the Corporate Governance Report. The intervening gap between the meetings was within the period prescribed under the Companies Act, 2013 and the SEBI (LODR) Regulations, 2015.

Further, Committees of the Board usually meet on the same day of formal Board Meeting, or whenever the need arises for transacting business. The recommendations of the Committees are placed before the Board for necessary approval and noting.

13. COMPOSITION OF AUDIT COMMITTEE

Your Company has formed an Audit Committee as per the Companies Act, and SEBI (LODR) Regulations, 2015.

All members of the Audit Committee possess strong knowledge of accounting and financial management.

Further, the Audit Committee is functional as per the provision of Section 177 of Companies Act, 2013 and Rules made thereunder and as per Regulation 18 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The other details of the Audit Committee are given in the Corporat = Governance Report, appearing as a separate section in this Annual Report.

14. COMPOSITION OF NOMINATION & REMUNERATION COMMITTEE

Your Company has formed a Nomination & Remuneration Committee to lay down norms for determination of remuneration of the executive as well as non-executive directors and executives at aLL LeveLs of the Company.

The other details of the Nomination & Remuneration Committee are given in the Corporate Governance Report, appearing as a separate section in this Annual Report.

15. NOMINATION AND REMUNERATION POLICY

The Board of Directors has framed a policy which lays down a framework in relation to remuneration of Directors. This policy also lays down criteria for selection and appointment of Board Members. The details of this policy are provided as Annexure- II to this Report and also available on the website of the Company www.kilitch.com.

Details of remuneration paid to Directors and Key Managerial Personnel are given in the Corporate Governance Report along with shareholding in a Company.

16. COMPOSITION OF STAKEHOLDERS RELATIONSHIP COMMITTEE

Your Board has constituted a Stakeholders Relationship Committee to specifically look into the mechanism of redressal of grievances of shareholders etc. The Committee reviews Shareholders / Investors complaints like non-receipt of Annual Report, physical transfer/ transmission/transposition, split/ consolidation of share certificates, issue of duplicate share certificates, etc. This Committee is also empowered to consider and resolve the grievance of other stakeholders of the Company including security holders.

The other details of the Stakeholders Relationship Committee are given in the Corporate Governance Report, appearing as a separate section in this Annual Report.

17. DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 134(3)(c) & 134(5) of the Companies Act, 2013, the Board of Directors of the Company hereby confirm that:

(a) in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;

(b) 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 and loss of the company for that period;

(c) 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;

(d) the directors have prepared the annual accounts on a going concern basis; and

(e) 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.

(f) 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.

18. PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURE

The information required pursuant to Section 197 read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2016 in respect of employees of the Company, is enclosed as Annexure III and forms part of this Report.

Further, no employee of the Company is earning more than the limits as prescribed pursuant to Section 197 read with Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2016 in respect of employees of the Company.

Further, the names of top ten employees in terms of remuneration drawn are disclosed in Annexure IV and is available on the website of the Company.

19. EXTRACT OF ANNUAL RETURN

Pursuant to Notification dated 28th August, 2020 issued by the Ministry of Corporate Affairs as published in the Gazette of India on 28th August, 2020, the details forming part of the extract of Annual Return in Form MGT-9 is not required to be annexed herewith to this report. However, the Annual Return will be made available at the website of the Company at www.kilitch.com.

20. DETAILS OF SUBSIDIARY/JOINT VENTURES/ ASSOCIATE COMPANIES

The Company has 2 subsidiaries as on 31st March 2021. During the year, the Board of Directors reviewed the affairs of its subsidiaries.

In accordance with Section 129(3) of the Companies Act, 2013, the Company has prepared consolidated financial statements of the Company and all its subsidiaries, which form part of the Integrated Report. Further, the report on the performance and financial position of each subsidiary and salient features of the Financial Statements in the prescribed Form AOC-1 is annexed to this report as an Annexure V.

In accordance with the provisions of Section 136 of the Companies Act, 2013 and the amendments thereto, the audited Financial Statements, including the consolidated financial statements and related information of the Company and financial statements of the subsidiary companies will be available on our website www.kilitch.com. These documents will also be available for inspection during business hours at the Registered Office of the Company.

None of our subsidiaries have become or ceased to be subsidiaries, joint ventures and associates during the year under review.

21. STATUTORY AUDIT

Pursuant to the provisions of Section 139 of the Companies Act, 2013 and the Rules made thereunder, it is mandatory to rotate the statutory auditor upon completion of the maximum term permitted under the said section. M/s. A. M. Ghelani & Co., Chartered Accountants (Firm Registration No.103173W) were appointed as the statutory auditor of the Company to hold office from the conclusion of the 25th Annual General Meeting till the conclusion of ensuing Annual General Meeting. In line with the requirement of the Companies Act, 2013, it is necessary to rotate the statutory auditor. Accordingly, the Board recommends the appointment of M/s Suryaprakash Maurya & Co, Chartered Accountants as the Statutory Auditor of the Company. Hence the approval of Members for continuance of their appointment at this AGM is being sought.

Further, M/s Suryaprakash Maurya & Co, Chartered Accountants (Firm Registration No. 147410W), have confirmed that they are eligible and willing to act as Statutory Auditors of the Company to audit the books of accounts of the Company.

The Notes on financial statement 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.

22. SECRETARIAL AUDIT

In terms of Section 204 of the Act and Rules made there under, M/s. Deep Shukla & associates, Company Secretaries, have been appointed Secretarial Auditors of the Company. The Secretarial Audit Report is enclosed as Annexure VI to this report.

The Secretarial Auditors Report does not contain any qualification, reservation, adverse remark or disclaimer.

23. COST AUDIT

As per the Cost Audit Orders and in terms of the provisions of Section 148 and all other applicable provisions of the Companies Act, 2013, read with the Companies (Audit and Auditors) Rules, 2014, Cost Audit is not applicable to our Company.

24. INTERNAL AUDIT & CONTROLS

The Company has in place adequate internal financial controls with reference to the financial statement. The Audit Committee of the Board periodically reviews the internal control systems with the management, Statutory Auditors. Significant internal audit findings are discussed and follow-ups are taken thereon.

Further, Mr. Agnel Fernandes was appointed as Internal Auditors of the Company pursuant to section 138 of the Companies Act, 2013.

25. VIGIL MECHANISM

In pursuant to the provisions of section 177(9) & (10) of the Companies Act, 2013, a Vigil Mechanism for directors and employees to report genuine concerns has been established. The Vigil Mechanism Policy has been uploaded on the website of the Company at www.kilitch.com. The employees of the Company are made aware of the said policy at the time of joining the Company.

26. RISK MANAGEMENT POLICY

The Company has laid down the procedure to inform the Board about the risk assessment and minimization procedures.

These procedures are reviewed by the Board annually to ensure that there is timely identification and assessment of risks, measures to mitigate them, and mechanisms for their proper and timely monitoring and reporting.

The Company does not fall under the ambit of top 500 listed entities, determined on the basis of market capitalisation as at the end of the immediately preceding financial year. Hence, compliance under Regulation 21 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is not applicable.

27. DEPOSITS

The Company has not accepted any deposits under Section 73 of the Companies Act, 2013 read with the Companies (Acceptance of Deposits) Rules, 2014.

28. PARTICULARS OF LOANS, INVESTMENTS & GUARANTEES BYTHECOMPANY

During the year under review, your Company made loans and investments in compliance with Section 186 of the Companies Act, 2013. However, no guarantee given and security provided by the Company. The said details are given in the notes to the financial statements.

29. INSURANCE

The properties/assets of the Company are adequately insured.

30. RELATED PARTY TRANSACTIONS

During Financial Year 2020-21, the Company entered into certain Related Party Transactions which are in the ordinary course of business and at arms length basis, with approval of the Audit Committee. The Audit Committee grants omnibus approval for the transactions which are of foreseen and repetitive nature. A detailed summary of Related Party Transactions is placed before the Audit Committee and the Board of Directors for their review every quarter.

There are no materially significant Related Party Transactions executed between the Company and its Promoters, Directors, key Managerial Personnel or other designated persons, that may have a potential conflict with the interest of the Company at large.

Details of all Related Party Transactions entered into by the Company were in ordinary course of business and were on an arms length basis, the particulars as required in form AOC-2 is annexed to this report as Annexure VII.

In the preparation of financial statements, the Company has followed the applicable Accounting Standards. The significant accounting policies that are applied have been set out in the Notes to Financial Statements.

31. CORPORATE GOVERNANCE CERTIFICATE

We ensure that, we evolve and follow the corporate governance guidelines and best practices sincerely, not only to boost longterm shareholder value, but also to respect minority rights. We consider it our inherent responsibility to disclose timely and accurate information regarding our operations and performance, as well as the leadership and governance of the Company.

In compliance with Regulation 34(3) read with Schedule V(C) of the SEBI (LODR) Regulations, 2015, a Report on Corporate Governance forms part of this Annual Report as Annexure VIII. The Certificate as issued by Practicing Company Secretary certifying compliance with the conditions of corporate governance as prescribed under Schedule V(E) of the SEBI (LODR) Regulations, 2015, is annexed to the Corporate Governance Report.

32. CORPORATE SOCIAL RESPONSIBILITY

The Company has a Policy on Corporate Social Responsibility and the same has been posted on the website of the Company at www.kilitch.com. The Annual Report on CSR activities in terms of the requirements of Companies (Corporate Social Responsibility Policy) Rules, 2014 is annexed as Annexure - IX which forms part of this Report.

Details of composition of the Committee are as under:

S.N Name of Directors Executive/Non-Executive Independent
1. Mr. Bhavin Mehta Executive
2. Mrs. Mira Mehta Executive
3. Mr. Murti Vasudev Krishna Non-Executive Independent

The detail report on CSR expenditure done by company is annexed to this report as Annexure X.

33. CONSERVATION OF ENERGY, RESEARCH AND DEVELOPMENT, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE

(A) Conservation of Energy:

I. Steps taken or impact on conservation of energy;

The use of energy is being optimized through improved operational methods. Continuous efforts are being made to optimize and conserve energy by improvement in production process. Even though its operations are not energy-intensive, significant measures are taken to reduce energy consumption by using energy-efficient equipments. The Company regularly reviews power consumption patterns in its all locations and implements requisite improvements/changes in the process in order to optimize energy/ power consumption and thereby achieve cost savings.

II. Steps taken for utilizing alternate sources of energy;

The steps taken by the Company for utilizing alternate sources of energy: The Company is using electricity as the main source of energy and is currently not exploring any alternate source of energy.

III. Capital investment on energy conservation equipment;

Your Company firmly believes that our planet is in dire need of energy re-sources and conservation is the best policy.

(B) Absorption of Technology:

i. The efforts made towards technology absorption:

The Company values innovation and applies it to every facet of its business. This drives development of distinctive new products, ever improving quality standards and more efficient processes. The Company has augmented its revenues and per unit price realization by deploying innovative marketing strategies and offering exciting new products. The depth of designing capabilities was the core to our success over the years.

The Company uses the service of in-house designers as well as those of free-lancers in developing product designs as per the emerging market trends. The Company uses innovation in design as well as in technology to develop new products.

ii. Benefits derived as a result of the above efforts:

As a result of the above, the following benefits have been achieved:

a. Better efficiency in operations,

b. Reduced dependence on external sources for technology for developing new products and upgrading existing products,

c. Expansion of product range and cost reduction,

d. Greater precision,

e. Retention of existing customers and expansion of customer base,

f. Lower inventory stocks resulting in low carrying costs.

iii. The Company has not imported any technology during the year under review;

iv. The Company has not expended any expenditure towards Research and Development during the year under review.

(C) Foreign Exchange Earning And Outgo:

(I) Earnings in Foreign Currency:

[Amount in Lakhs]
Particulars 2020-21 2019-20
Earnings in Foreign Currency: 1893.26 3906.50

(II) Expenditure in foreign currency:

[Amount in Lakhs

Particulars 2020-21 2019-20
Business Promotion & Travelling 238.46 241.33
Export Registration 215.30 261.45
Export Expenses 32.28 8.42

34. TRANSFER OF AMOUNTS TO INVESTOR EDUCATION AND PROTECTION FUND

Pursuant to the provisions of the Companies Act, 2013 read with The Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, as amended, (Rules), the dividends, unclaimed for a consecutive period of seven years from the date of transfer to the Unpaid Dividend Account of the Company are liable to be transferred to IEPF. Further, the shares (excluding the disputed cases having specific orders of the Court, Tribunal or any Statutory Authority restraining such transfer) pertaining to which dividend remains unclaimed for a period of continuous seven years from the date of transfer of the dividend to the unpaid dividend account are also mandatorily required to be transferred to the IEPF established by the Central Government. Accordingly, the Company has transferred eligible Shares to IEPF Demat Account maintained by the IEPF authority within statutory timelines.

The Company has sent individual communication to the concerned shareholders at their registered address, whose dividend remained unclaimed and whose shares were liable to be transferred to the IEPF. The communication was also published in national English and local Marathi newspapers.

Any person whose unclaimed dividend and shares pertaining thereto, matured deposits, matured debentures, application money due for refund, or interest thereon, sale proceeds of fractional shares, redemption proceeds of preference shares, amongst others has been transferred to the IEPF Fund can claim their due amount from the IEPF Authority by making an electronic application in e-form IEPF-5.

Upon submitting a duly completed form, Shareholders are required to take a print of the same and send physical copy duly signed along with requisite documents as specified in the form to the attention of the Nodal Officer, at the Registered Office of the Company. The e-form can be downloaded from the website of Ministry of Corporate Affairs www.iepf.gov.in.

Dates of declaration of dividends since 2017-18 and the corresponding dates when unclaimed dividends are due to be transferred to the Central Government are given in the below table .

Financial Year E nd ed Date of declaration of Dividend Amount Remaining unclaimed/ Unpaid as on 31.03.2020 (Rs.) Last date for claiming unpaid dividend amount (before) Last date for transfer to IEPF
2017-2018 27/09/2018 2,06,711.50/- 02.1 1.2025 02.1 2.2025
2018-2019 30/09/2019 1,80,986.50/- 05.1 1.2026 05.11.2026

Shareholders are requested to get in touch with the RTA for encashing the unclaimed dividend/interest/principal amount, if any, standing to the credit of their account.

35. OBLIGATION OF COMPANY UNDER 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 at workplace (Prevention, prohibition and Redressal) Act, 2013. All employees (permanent, contractual, temporary, trainees) are covered under this policy. During the year ended 31st March 2021 Company has not received any complaint of harassment.

36. LISTING WITH STOCK EXCHANGE

The Company confirms that it has paid the Annual Listing Fees for the year 2021-22 to BSE and NSE where the Companys Shares are listed.

37. SECRETARIAL STANDARDS

The Company has in place proper systems to ensure compliance with the provisions of the applicable secretarial standards issued by The Institute of Company Secretaries of India and such systems are adequate and operating effectively.

38. HUMAN RESOURCES

Your Company treats its "human resources" as one of its most important assets.

Your Company continuously invests in attraction, retention and development of talent on an ongoing basis. A number of programs that provide focused people attention are currently underway. Your Company thrust is on the promotion of talent internally through job rotation and job enlargement.

39. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS:

There are no significant and material orders passed by the Regulators / Courts / Tribunals which would impact the going concern status of the Company and its future operations.

40. MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY:

During the year under review, there have been no material changes and commitments, affecting the financial position of the Company which have occurred between the end of the financial year of the company to which the financial statements relate and the date of the report.

Further, the Board of Directors at their meeting held on 30 th April, 2021 allotted 67470 Equity Shares pursuant to exercise of option granted to employees of the Company under ESOS Scheme.

41. ANNUAL SECRETARIAL COMPLIANCE REPORT:

M/s. Deep Shukla & Associates, Practicing Company Secretaries, have been appointed to give Annual Secretarial Compliance Certificate. The Annual Compliance Certificate is enclosed as Annexure XI to this report.

42. ACKNOWLEDGEMENT

The Directors would like to thank all shareholders, customers, bankers, medical professionals, business associates, suppliers, distributors and everybody else with whose help, cooperation and hard work the Company is able to achieve the results. The Directors would also like to place on record their appreciation of the dedicated efforts put in by the employees of the Company.

For & on behalf of the Board of Directors of
Kilitch Drugs (India) Limited
Mr. Mukund Mehta Mrs. Mira Bhavin Mehta
Place: Mumbai Managing Director Whole - Time Director
Date: 13th August 2021 [DIN: 00147876] [DIN:01902831]