Meghmani Fineche Director Discussions


Dear Shareholders,

Your Directors have pleasure in presenting 16th (Sixteenth) Annual Report together with the Audited Financial Statements of the Company for the Financial Year (FY) ended on 31st March, 2023.

FINANCIAL RESULTS:

(Rs in Lakhs)

PARTICULARS Year Ended on 31st March, 2023 Year Ended on 31st March, 2022
Revenue from Operations 2,18,839.97 1,55,094.14
Other Income 798.39 411.08
Total Revenue 2,19,638.36 1,55,505.22
Profit Before Finance Cost, Tax, Depreciation & Amortization 69,698.13 51,359.82
Finance Cost 6,550.22 4,427.02
Depreciation 10,895.33 8,590.56
Profit Before Tax 52,252.58 38,342.24
Payment & Provision of Current Tax 9,430.77 6,967.28
Deferred Tax Expenses/(Income) 7,486.06 6,096.28
Profit After Tax 35,335.75 25,278.68

STATE OF COMPANYS AFFAIRS: i) Revenue:

Sales increased by 41% from Rs1,55,094.14 Lakhs to H2,18,839.97 Lakhs mainly due to: -

1. Higher realization across the divisions in F.Y. 2022-23

2. Volume growth of 9% backed by increase in volume from Hydrogen Peroxide and from commissioning of new capacities namely Epichlorohydrin, Chlorinated polyvinyl chloride (CPVC) & Caustic Soda

ii) Earnings Before Interest, Tax, Depreciation & Amortization (EBITDA): year ended on 31

EBITDA increased by Rs 17,951.00 Lakhs i.e. from Rs 50,948.74 Lakhs in FY2022 to Rs 68,899.74 Lakhs in FY2023.

iii) Profit Before Tax (PBT):

PBT increased by H13,910.34 Lakhs i.e. from Rs 38,342.24 Lakhs in FY 2022 to Rs 52,252.58 Lakhs in F.Y. 2023. The major reasons for increase in profit are:

1. PBT has moved in line with growth in the revenue

2. Better absorption of overhead with increase in production;

iv) Consolidated Financial Statements:

In accordance with the provisions of Section 129 (3) of the Companies Act, 2013, (Act) read with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015 [‘Listing Regulations], the Company has prepared Consolidated Financial Statements of the Company and its Subsidiary namely Meghmani Advanced Sciences Limited, which forms part of this report.

The Financial Statements as stated above are available on the website of the Company at www.meghmanifinechem.com

v) Change in Nature of Business, if any:

There has been no change in the nature of business of the Company.

DIVIDEND:

Interim Dividend:

During the year, based on the financial performance of the Interim dividend of H2.50 each per equity share (25%) for the financial st March, 2023 was declared by the Board of Directors on 19th January, 2023, and the same was paid by the Company on 08th February, 2023.

Final Dividend:

The Board of Directors is pleased to recommend a Final dividend of H2.50 (25%) per equity share of H10/- each fully paid on 4,15,50,158 equity shares of the Company, subject to approval of the shareholders at the ensuing Annual General Meeting of the Company. The Final dividend recommended, shall be paid to the members, within statutory time limit, whose name appears in the Register of Members, as on the Record date i.e. 20th June, 2023.

The total dividend paid for the financial year ended on 31st March, 2023 works out to Rs5/- (50%) per equity share of Rs10/- each. The dividend payout ratio for the current year is at 6%. The dividend recommended is in accordance with the Companys Dividend Distribution Policy. The dividend distribution policy, in terms of Regulation 43A of the Listing Regulations, is available on the website of the Company at https://www.meghmanifinechem.com/corporate-governance.

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

Other than as stated elsewhere in this report, there were no material changes and commitments affecting the financial Company, which occurred between the end of the financial which this financial statement relates and the date of this Report.

CAPITAL EXPENDITURE:

Capital Expenditure (including Intangible Assets) during the financial year was at Rs41,645.44 Lakhs as on 31st March, 2023 (Rs45,629.92 Lakhs FY 2021-22). Your CompanymanagesCashandCashflow processes assiduously, involving all parts of the business. There was Cash and Bank balance of Rs1419.00 Lakhs as on 31st March, 2023 (Rs2503.54 Lakhs FY 2021-22).

AMOUNT TO BE TRANSFERRED TO RESERVES:

During the financial year, no amount was proposed Reserves account.

DEPOSITS:

During the financial year, your Company has not accepted any amount as Public Deposits within the meaning of provisions of Chapter V – Acceptance of Deposits by Companies of the Companies Act, 2013 read with the Companies (Acceptance of Deposits) Rules, 2014.

FINANCE:

To meet the funds requirement of working / operational capital and/or expansion / new projects, your Company has availed financial from banks / consortium of banks, the details of which forms part of Notes to the Financial Statements.

CREDIT RATING:

The Company has been assigned Long Term Rating CRISIL AA-/ Stable to its various bank facility of Rs1050 Crores (enhanced from H850 Crores) by CRISIL Limited (Rating Agency) vide its letter no RL/GDS12080/306826/BLR/1222/48014 dated 7th December, 2022.

PROJECTS:

(A) Status of Expansion: Caustic Soda:

To tap the surging demand of Caustic Soda in India and Overseas, your Company successfully commissioned the capacity expansion of Caustic Soda manufacturing facility to 400 KTPA by adding 106 KTPA facility, along with expansion of 36 MW Captive Power Plant on 30th September, 2022.

(B) Status of Expansion: Chlorine Derivatives:

Epichlorohydrin (ECH)

Your Company successfully commissioned ECH manufacturing facility with a capacity of 50,000 TPA on 1st June, 2022, which is used in varied applications, such as Epoxy Resin, Water Treatment Chemicals, Textiles, Pharmaceuticals, Paper Reinforcement, Synthetic Glycerine, etc.

CPVC Resin

Your Company successfully commissioned CPVC Resin manufacturing facility with a capacity of 30,000 TPA capacity on 18th July, 2022 and is in process of expanding its CPVC Resin capacity to 75,000 TPA by adding 45,000 TPA capacity at an estimated capex cost of H250 Crore and it is expected to get commissioned by Q4FY24. CPVC Resin are essentially used in residential, industrial and commercial piping system.

(C) Chloro-Toluene and its Value Chain: position of the With its eye on global market trends and growth in manufacturingyear to of Specialty Chemicals, your Company has initiated the process of commissioning the manufacturing facility of Chlorotoluene and its value Chain, at an estimated project cost of Rs180 Crore at its existing Chlor-Alkali Complex, Dahej. The said facility is expected to be functional by Q4FY24. The produce will be used in manufacturing of pharmaceuticals and agro-chemical active ingredients.

(D) Research and Development:

Your Company is setting-up Research & Development (R & D) Center at an estimated cost of H25 Crore, to strengthen the portfolio of Specialty Chemicals and Derivative products by to transfer to the identifying the molecules in Chlorotoluene & value chain and other new molecules on Specialty side.

(E) Acquisition of Land:

To achieve, Companys long term vision, the Company has purchased: -

1) Industrial Plot No. D-II-13, admeasuring 289844.41 Sq. Mtr. situated at GIDC Estate, Dahej, Taluka, Vagra, Bharuch.

2) Industrial Plot No. D-2-CH-27 admeasuring 52409.97 Sq. Mtr. Situated at Dahej-II GIDC Estate, Dahej, Taluka, Vagra, Bharuch. facilities

DISCLOSURE RELATING TO SUBSIDIARIES,

ASSOCIATES:

The Company has only one wholly-owned subsidiary Viz., Meghmani Advanced Sciences Limited incorporated on 27th January, 2021, is non-operational. The Companyhasfiledform STK-2 with Registrar of Companies, Gujarat for striking off the name of the Company from Register of Companies.

A separate statement containing the salient features of financial statement of subsidiaries, associates and joint ventures in ‘Form No. AOC-1 forms part of this Annual Report.

As required under Regulations 16(1)(c) and 46 of the Listing Regulations, the Board of Directors have approved the Policy for determining Material Subsidiaries. The details of the policy are available on the Companys website at https://www.meghmanifinechem. com/ corporate-governance.

DISCLOSURE RELATING TO JOINT VENTURES:

The Company has entered into Joint Venture with ReNew Green (GJS Three) Private Limited in the ratio of 26:74, to set up a grid connected 18.34 Wind-Solar Hybrid Project. The estimated capex cost is H263 Crore to be funded in Debt: Equity ratio of 70:30. During the year the Company has invested H20.54 Crores towards equity contribution.

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.

MERGERS AND ACQUISITIONS:

There were no mergers/acquisitions during the year.

DIRECTORS AND KEY MANAGERIAL

PERSONNEL:

i) Directors to retire by Rotation:

In accordance with the provisions of Section 152 of the Companies Act, 2013 and the Articles of Association of your Company, Mr. Maulik Patel (DIN - 02006947) and Mr. Kaushal Soparkar (DIN - 01998162), Directors retires by rotation at the ensuing Annual General Meeting and being eligible have offered themselves for re-appointment.

The details as required under the provisions of the Companies Act and Listing Regulations are provided in the Notice convening the ensuing Annual General Meeting.

ii) 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 the provisions of Section 149(6) of the Companies Act, 2013 read with Schedules & Rules issued thereunder as well as Regulation 16 of the Listing Regulations.

The Independent Directors have complied with the Code for Independent Directors prescribed in Schedule IV to the Act.

iii) Key Managerial Personnel (KMP):

Pursuant to Section 2 (51) and Section 203 of the Companies Act, 2013 read with Rules framed there under, the following executives have been designated as Key Managerial Personnel (KMP) of the Company.

1. Mr. Kaushal Soparkar Chief Executive Officer

2. Mr. Kamlesh Mehta – Company Secretary

3. Mr. Sanjay Jain Chief Finance Officer

There has been no change in the Key Managerial Personnel of the Company during the financial year ended 31 st March, 2023.

MEETINGS OF THE BOARD:

During the year, Four Board meetings were convened on 25.04.2022, 21.07.2022, 21.10.2022 and 19.01.2023 in respect of which meetings proper notices were given and the proceedings were properly recorded and signed.

DIRECTORS RESPONSIBILITY STATEMENT:

In pursuance of Section 134(5) of the Companies Act, 2013 read with the rules made there under, including any enactment or re-enactment thereon, the Directors hereby confirm that: a) In the preparation of the Annual Accounts for the year ended on 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 at 31st March, 2023 and of the

Profit of the Company for the periodendedon31 st March, 2023. 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 laid down Internal Financial Controls (‘IFC) and that such Internal Financial Controls are adequate and were operating effectively. f) 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.

FAMILIARISATION PROGRAMME FOR INDEPENDENT DIRECTORS:

The Company has conducted familiarization programme for Independent Directors during the year. The details of the same are given in the Corporate Governance Report and also posted on the website of the Company at https://www.meghmanifinechem.com/ corporate-governance.

BOARD PERFORMANCE EVALUATION:

Pursuant to the provisions of the Act and Regulation 17 of Listing Regulations, the Board has carried out the annual performance evaluation of its own performance and that of its statutory committees Viz., Audit Committee, Stakeholder Relationship Committee, Nomination and Remuneration Committee, Corporate Social Responsibility Committee and Risk Management Committee and also Committee of the Independent Directors.

A structured questionnaire was prepared after taking into consideration inputs received from the Directors, covering various aspects of the Boards functioning such as adequacy of the composition of the Board and its Committees, Board culture, execution and performance of specific duties, obligations and governance.

A separate exercise was carried out to evaluate the performance of Directors on parameters such as level of engagement and contribution, independence of judgment safeguarding the interest of the Company and its minority shareholders etc. The entire Board carried out the performance evaluation of the Independent Directors and also reviewed the performance of the Secretarial Department. As required under the provisions of the Act and the Listing Regulations, a separate meeting of the Independent Directors of the Company was held on 19th January, 2023 to evaluate the performance of the Chairman, Non- Independent Directors and the Board as a whole and also to assess the quality, quantity and timeliness of flow of information between the management of the Company and the Board.

The Directors expressed their satisfaction with the evaluation process.

REMUNERATION POLICY:

The Board, has on the recommendation of the Nomination & Remuneration Committee, framed a policy for selection and appointment of Directors, Senior Management Personnel and fix their remuneration. A brief detail of the policy is given in the Corporate Governance Report and also posted on the website of the Company at https://www.meghmanifinechem.com/ corporate-governance.

Non-Executive Directors are paid sitting fees for attending each meeting of the Board and/or Committee of the Board, approved by the Board of Directors within the overall ceilings prescribed confirmed theirunder the Act and Rules framed thereunder.

All the Executive Directors (i.e. Chairman/Managing Director/Whole-time Director) are paid remuneration as mutually agreed between the Company and the Executive Directors within the overall limits prescribed under the Companies Act, 2013.

In determining the remuneration of the Senior Management Employees the Nomination and Remuneration Committee ensures / considers the following:

The remuneration is divided into two components viz. fixed component comprising salaries, perquisites and retirement component comprising performance benefits bonus; The remuneration including annual increment and performance bonus is decided based on the criticality of the roles and responsibilities, the Companys performance vis-?-vis the annual budget achievement, individuals performance vis-?-vis Key Result Areas (KRAs) / Key Performance Indicators (KPIs), industry benchmark and current compensation trends in the market.

COMMITTEES OF THE BOARD:

The composition of committees constituted by the Board along with changes, if any, forms part of the Corporate Governance Report, which forms part of this Annual report.

AUDIT COMMITTEE:

The Company has constituted an Audit Committee in terms of the requirements of the Act and Regulation 18 of the Listing Regulations. The details of the same are disclosed in the Corporate Governance Report.

RISK MANAGEMENT COMMITTEE:

The Company has constituted a Risk Management Committee in terms of the requirements of Regulation 21 of the Listing Regulations. The details of the same are disclosed in the Corporate Governance Report.

CORPORATE SOCIAL RESPONSIBILITY COMMITTEE:

As per the provision of Section 135 read with Schedule VII of the Companies Act, 2013 and the Companies (Corporate Social Responsibility Policy) Rules 2014, the Company has constituted Corporate Social Responsibility (CSR) Committee and formulated Corporate Social Responsibility Policy (CSR Policy). The composition of CSR Committee is given in the Corporate Governance Report.

The Company has identifiedprojects in accordance with Schedule VII of the Companies Act, 2013, such as eradication of poverty, women empowerment, education, health care and such other projects. The Annual Report on CSR activities for the FY 2022-23 is annexed to this report as ‘Annexure - A

AUDITORS AND AUDITORS REPORT:

Statutory Auditors:

M/s. S R B C & Co LLP, Chartered Accountants, Ahmedabad (Firm Regn. No. 324982E / E300003) were re-appointed as Statutory Auditors for the Second Term to hold office till the conclusion of 20th AGM to be held in 2027, subject to ratification at every Annual General Meeting.

eligibilityandqualificationM/s.SRBC&CoLLPhave required under Section 139, 141 and other applicable provisions of the Companies Act, 2013 and rules made thereunder (including any statutory modification(s)or re-enactment(s) thereof for the time being in force).

The Notes to the Financial Statements referred in the Auditors Report are self-explanatory.

There are no qualifications or reservations, or adverse remarks made by Statutory Auditors of the Company and therefore do not call for any comments under Section 134 of the Act. The Auditors Report is attached with the Financial Statements in this Annual Report.

Cost Auditors:

Pursuant to the provisions of Section 148 of the Companies Act, 2013, M/s. K V Melwani & Associates, Cost Accountants (Registration number 100497) were appointed as the Cost Auditors of the Company to conduct audit of the Companys Cost Accounting Records in respect of the products of the Company for the Financial Year 2022 - 2023 at the remuneration of H1,75,000 (Rupees One Lakh Seventy Five Thousand) per annum plus Goods and Service Tax (GST) and out of pocket expenses.

Your Company has received consent from M/s. K V Melwani & Associates, Cost Accountants, to act as the Cost Auditors of your Company for the Financial Year 2023-2024 along with a certificate confirming their independence. As per the provisions of the Companies Act, 2013, a resolution seeking approval of the Shareholders ratifying remuneration payable to the Cost Auditors forms part of the Notice convening Annual General Meeting.

The Company has maintained the Cost accounts and records in accordance with Section 148 of the Companies Act, 2013 and Rules framed thereunder. The Cost Audit Report for the Financial Year 2021-2022 was filed with the Ministry of Corporate Affairs on 22.10.2022.

Secretarial Auditors:

Pursuant to the provisions of Section 204 of the Companies Act, 2013 read with Rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014, your Company had engaged the services of M/s Shahs & Associates, a firm of Company Secretaries in Practice to undertake the Secretarial Audit of the Company for the financial year ended 31 st March, 2023. The Secretarial Audit Report in Form No. MR - 3 for the financial year ended 31st March, 2023 is annexed to this report as ‘Annexure - B.

Internal Auditor:

M/s. C N K Khandwala & Associates, Chartered Accountants was appointed as Internal Auditors for Financial Year 2022-2023 to carry out the periodic audit as per the scope of work approved by the Audit Committee.

Frauds Reported by Auditors:

During the year under review, no instance of fraud in the Company was reported by the Auditors.

INTERNAL FINANCIAL CONTROL SYSTEM AND THEIR ADEQUACY:

The Company has in its place adequate Internal Financial Controls with reference to the Financial Statements. During the year, such controls were tested and no reportable material weakness in the design or operation of Internal Finance Control System was observed. of their appointment

For all amendments to Accounting Standards and the new standards notified, the Company carries out a detailed analysis and presents the impact on accounting policies, financial results including revised disclosures to the Audit Committee. The approach and changes in policies were also validated by the Statutory Auditors.

Further, the Audit Committee periodically reviewed the Internal Audit Reports submitted by the Internal Auditors. Internal Audit observations and corrective action taken by the Management were presented to the Audit Committee. The status of implementation of the recommendations were reviewed by the Audit Committee on a regular basis and concerns if any were reported to the Board. As per the relevant provisions of the Companies Act, 2013, the Statutory Auditors have expressed their views on the adequacy of Internal Financial Control in their Audit Report.

RELATED PARTY TRANSACTIONS (RPT):

All Related Party Transactions entered during the Financial Year were on an Arms Length Basis and were in the ordinary course of business. The Company has not entered in to materially Related Party Transactions i.e., exceeding 10% or more of the turnover of the Company with related parties, which may have a potential conflict with the interest of the Company at large. Hence, no transactions are required to be reported in Form AOC-2.

During the year, all Related Party Transactions were placed before the Audit Committee and the Board for approval. The Company, whenever required, has obtained approval of the Shareholders of the Company before entering into Materially Related Party Transactions. or material

As required under Regulation 23 of the Listing Regulations, the Company has framed a Policy on Materiality of Related Party Transactions and on dealing with Related Party Transactions which is available on the website of the Company at https://www. Meghmanifinechem.com/corporate-governance.

VIGIL MECHANISM / WHISTLE BLOWER POLICY:

The Company has formulated a Vigil Mechanism-cum-Whistle Blower Policy ("Policy") as per the requirements of Section 177 of the Companies Act, 2013 and Regulation 22 of the LODR requirements. The Policy is applicable to all Directors and Employees of the Company. The Policy is to deal with instance of unethical behaviour, actual or suspected fraud or violation of Companys code of conduct, if any. The said Policy is available on the website of the Company at https://www.Meghmanifinechem.com/corporate-governance.

PREVENTION OF SEXUAL HARASSMENT AT WORKPLACE:

As per the requirement of the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013 read with rules made thereunder, your Company has constituted Internal Complaint Committee (ICC) as per requirement of the Act which is responsible for redressal of complaints relating to sexual harassment against woman at workplace. The Sexual Harassment of Women Policy formed is available on the website of the Company at https://www. Meghmani finechem.com/corporate-governance.

During the year, no complaint was lodged with the ICC nor any such instance was reported and the management was happy to take the same on record.

PARTICULARS OF EMPLOYEES:

Details of remuneration of Directors, KMPs and Employees as per Section 197 of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, are annexed to this report as Annexure - C. However, as per the provisions of Section 136 of the Companies Act, 2013, the Annual Report is being sent to the Members and others entitled thereto, excluding the information on employees remuneration particulars as required under Rule 5 (2) & (3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014. The disclosure is available for inspection by the Members at the Registered Office of your Company during business hours on all working days (except Saturday) of the Company up to the date of the ensuing AGM. Any Member interested in obtaining a copy thereof, may write to the Company Secretary of the Company.

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

The information pertaining to Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo as required under Section 134(3)(m) of the Companies Act, 2013 read with Rule 8(3) of the Companies (Accounts) Rules, 2014 is annexed to this report as ‘Annexure - D

SIGNIFICANT OR MATERIAL ORDERS PASSED BY THE AUTHORITY:

Nosignificant were passed by the Regulators or Courts or Tribunals which impact the going concern status of the Company and its future operations.

CORPORATE GOVERNANCE:

The Report on Corporate Governance for FY2023, as per regulation 34(3) read with Schedule V of the Listing Regulations along with the Certificate from Practicing Company Secretary confirming the compliance with the conditions of Corporate Governance forms part of this Annual Report.

MANAGEMENT DISCUSSION AND ANALYSIS:

As per Clause 34(2)(e) of the Listing Regulations, a detailed report on the Management Discussion and Analysis forms part of this Annual Report.

ANNUAL RETURN:

Pursuant to Section 92(3) read with Section 134(3)(a) of the Companies Act, the Annual Return as on 31st March, 2023 of the Company is available on Companys website and can be accessed, at https://www.meghmanifinechem.com/corporate-governance.

BUSINESS RESPONSIBLITY AND SUSTAINIBILITY REPORT:

As per Regulation 34 of Listing Regulations, the Business Responsibility and Sustainability Report (BRSR) as a separate section forms part this Annual Report.

INSURANCE:

The Companys Plant, Property, Equipment and Stocks are adequately insured under the Industrial All Risk (IAR) Policy. The Company has insurance coverage for Product Liability and Public Liability Policy and Commercial General Liability (CGL). It also maintains various other types of insurance, such as Erection All Risk Policy for its major capital expenditure projects, Directors and Officers liability, Transit cover, Charterers liability cover, Marine policy and Employee Benefit

Insurance policies. The Company covers the properties on full sum insured basis on replacement value. The scope of coverage, insurance premiums, policy limits and deductibles are in line with the size of the Company and its nature of business.

ENVIRONMENT:

As a responsible corporate citizen and as a Chemicals manufacturer, environmental safety has been one of the key concerns of the Company. It is the constant endeavor of the Company to strive for compliant of stipulated pollution control norms.

INDUSTRIAL RELATIONS:

The relationship with the workmen and staff remained cordial and harmonious during the year and management received full cooperation from employees.

DETAILS OF NODAL OFFICER:

In accordance with Rule 7(2A) of Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, the detail of Nodal Officer of the Company, for the purpose of coordination with Investor Education and Protection Fund (IEPF) Authority is as under:

Mr. Kamlesh Mehta
Designation: Company Secretary and ComplianceOfficer
Postal Address: "Meghmani House", B/h Safal Profitaire,
Corporate Road, Prahladnagar,
Ahmedabad - 380 015, Gujarat.
Telephone No.: +91 79 7176 1000
E-mail ID: helpdesk@meghmanifinechem.com

The Company has also displayed the above details of Nodal Officer at its Website at www.meghmanifinechem.com

OTHER DISCLOSURES AND INFORMATION:

(A) Secretarial Standards:

During the year under review, the Company is in Compliance with the Secretarial Standards issued by the Institute of Company Secretaries of India (ICSI) on Meetings of the Board of Directors (SS-1) and General Meetings (SS-2).

The Company has complied with the applicable Secretarial Standards issued by the Institute of Company Secretaries of India and approved by the Central Government under Section 118(10) of the Act.

(B) Annual Listing Fee:

The Company is listed with National Stock Exchange of India Limited and BSE Limited and paid Annual Listing fee to both the Stock Exchanges.

(C) No One Time Settlement:

There was no instance of one-time settlement with any Bank or Financial Institution.

ACKNOWLEDGMENT:

Your Directors thank the various Central and State Government Departments, Organizations and Agencies for the continued help and co-operation extended by them. The Directors also gratefully acknowledge all stakeholders of the Company viz. Customers, Members, Dealers, Vendors, Banks and other business partners for the excellent support received from them during the year. The Directors place on record unstinted commitment and continued contribution of the Employee to the Company.

For and on behalf of the Board
Maulik Patel
Date: 25th April, 2023 Chairman & Managing Director
Place: Ahmedabad (DIN - 02006947)