Rubra Medicaments Ltd Directors Report.

To,

The Members,

Rubra Medicaments Limited

Your Directors have pleasure in presenting Annual Report together with the Audited Accounts of the Company for the year ended 31st March, 2020

1. FINANCIAL RESULTS

Your Company financial performance during the year 2019-20 is summarized below:

(Rs. In Lakhs)

Particulars 2019-2020 2018-2019
Income from Operations 98.76 59.12
Other Income - -
Less: Expenses (97.19) (77.37)
Profit/(Loss) Before Extraordinary Items and Tax 1.57 (18.25)
Less: Extraordinary Items (3.06) (17.11)
Profit/(Loss) Before Tax 3.15 (1.14)
Less: Taxation - -
Profit/(Loss) After Tax 3.15 (1.14)
EPS (in Rs.) 0.06 0.00

2. FINANCIAL SUMMARY

The Company earned a Total Income of Rs. 98.76 Lakhs during the FY 2019-20, as compared to the Total Income of Rs. 59.12 Lakhs earned in the previous FY 2018-19. The Companys Net Profit for the Financial Year ended March 31, 2020 stood at Rs. 3.15 Lakhs as against a Net Loss of Rs. 1.14 Lakhs in the previous year.

3. CHANGE IN NATURE OF BUSINESS

There is no change in the nature of the business of the company.

4. TRANSFER TO RESERVES

Profit during the year has been transferred to Reserves.

5. CHANGES IN SHARE CAPITAL

The Authorised Share Capital of the Company is Rs. 8,20,00,000/- divided into 82,00,000 equity shares of Rs. 10/- each and the paid-up share capital of the Company is Rs. 5,46,83,000/- divided into 54,68,300 equity shares of Rs. 10/- each.

The Company has not issued any kind of shares or securities during the year under review

6. DIVIDEND

The Board of Directors expressed their inability to recommend any dividend on equity shares for the year ended March 31, 2020.

7. PUBLIC DEPOSITS

During the year, the Company has not accepted any deposits from public nor during the previous financial year.

8. BUY-BACK / SWEAT EQUITY / BONUS SHARES

The Company has neither bought back its shares nor has issued any sweat equity or Bonus shares during the year under review.

9. EMPLOYEES STOCK OPTION PLAN

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

10. STATUTORY AUDITORS

M/s. DD & Company (erstwhile M/s. Dinesh H. Agarwal & Company), Chartered Accountants were appointed as Statutory Auditor of the Company for a period of three years starting from FY 2018-19 till FY 2020-21.

The Board noted the continuation of M/s. DD & Company, Chartered Accountants as Statutory Auditors of the Company till FY 2020-2021.

11. INTERNAL AUDITOR

Ms. Srashti Jain is the Internal Auditor of the Company for the FY 2018-19. Further, in the Board meeting held on April 25, 2019, the Internal Auditor was appointed for a further period of three years from FY 2019-20 to FY 2021-22.

12. STATUTORY AUDIT REPORT

The Auditors Report on the financial statement for the current year is self-explanatory, therefore does not require any further explanation. The Company has already submitted declaration pursuant to Regulation 33(3)(d) of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 to the Stock Exchange(s).

13. DETAILS IN RESPECT OF FRAUDS REPORTED BY AUDITORS UNDER SUBSECTION (12) OF SECTION 143

There are no frauds reported by the Statutory Auditors of the Company under Section 143 (12).

14. SECRETARIAL AUDITOR AND SECRETARIAL AUDIT REPORT

M/s. Maithili Nandedkar & Associates, Practicing Company Secretary, was appointed as Secretarial Auditor to conduct the Secretarial Audit of the Company for the Financial Years 2018-19 to 2020-21 pursuant to Section 204 of the Companies Act, 2013 and rules made there under. The Secretarial Audit Report for the Financial Year 2018-2019 forms part of the Annual Report.

Qualification: There is a delay in filling of Quarterly Compliance under LODR Regulations for the quarter ended December 31, 2019. BSE has imposed fines. Company has applied for waiver. Company was unable to produce Minutes and other statutory records due to the current pandemic situation.

15. DIRECTORS AND KEY MANAGERIAL PERSONNEL

In accordance with the Companies Act, none of the Directors are liable to retire by rotation at the ensuing Annual General Meeting.

During the year under review, CS Priti Suri resigned as Company Secretary and Compliance Officer of the Company w.e.f. July 4, 2019. Company is yet to appoint a new company secretary.

16. EXTRACT OF ANNUAL RETURN

The details forming part of the extract of the Annual Return in form MGT 9 is uploaded on the website of the Company. The web link for the same is as under:

http://www.rubramed.com/AGM-NQTICE-2020.pdf

17. DETAILS OF SUBSIDIARIES/ASSOCIATES/JOINT VENTURES, IF ANY:

As on March 31, 2020, the Company does not have any subsidiary, associate or joint venture.

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

The information pertaining to Conservation of Energy, Technology Absorption and 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 I.

19. VIGIL MEGHANISM

The Company has established a Vigil Mechanism that enables the Directors and Employees to report genuine concerns. The Vigil Mechanism provides for (a) adequate safeguards against victimization of persons who use the Vigil Mechanism; and (b) direct access to the Chairperson of the Audit Committee of the Board of Directors of the Company in appropriate or exceptional cases. The web link for the policy is as under: http://www. rubramed. com/policies/Whistle-Blower-Policy.pdf

20. CORPORATE SOCIAL RESPONSIBILITY

The provisions of Corporate Social Responsibility are not applicable to the Company as it does not fall within the purview of Section 135(1) of the Companies Act, 2013.

21. RELATED PARTY TRANSACTIONS

There were no contracts or arrangements entered into by the Company with related parties referred to in sub-section (1) of section 188 of the Companies Act, 2013. The related party transactions as per IND AS 24 are given in the notes to the financial accounts and forms part of the Annual Report.

The policy on Related Party Transactions is part of the website of the Company. The web link for the policy on related party transaction is as under: http://www.rubramed.com/policies/Related-Party-Transaction.pdf

22. RISK MANAGEMENT

The Company has devised and implemented a mechanism for risk management.

23. FAMILIARIZATION PROGRAMME FOR INDEPENDENT DIRECTORS

The Company proactively keeps its Directors informed of the activities of the Company, its management and operations and provides an overall industry perspective as well as issues being faced by the industry. Details of the Familiarization program for Independent Directors form part of the website of the Company. The web link of Familiarization program is as under:

http://www.rubramed.com/policies/Familarisation-of-Independent-Director.pdf

24. INDEPENDENT DIRECTORS MEETING

The Board of Directors of the Company meets once in every Financial Year without the presence of Executive Directors and Management of the Company. The role of the Directors is as per the provisions of Companies Act, 2013 as well as the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

25. DECLARATION BY INDEPENDENT DIRECTOR

Pursuant to Section 149(6) of the Companies Act, 2013 and SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015, the Independent Directors of the Company have given the declaration to the Company that they qualify the criteria of independence as required under the Act.

26. BOARD EVALUATION

Pursuant to the provisions of Companies Act, 2013 and SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015, the Board has carried out annual performance evaluation of its own performance, the directors individually as well the evaluation of the working of its Audit, Nomination & Remuneration and Stakeholder committee, including the Chairman of the Board who were evaluated on parameters such as level of engagement and contribution and independence of judgment thereby safeguarding the interest of the Company. The performance evaluation of the Independent Directors was carried out by the entire Board. The performance evaluation of the Chairman and the Non Independent Directors was carried out by the Independent Directors. The Directors expressed their satisfaction with the evaluation process.

27. CORPORATE GOVERNANCE

Pursuant to Regulation 15(2) of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) 2015, compliance of Corporate Governance is not mandatory. However, the company has complied with the provisions of Regulation 17 to 27 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, to the extent possible. A separate section on Corporate Governance forms part of the Directors Report as stipulated in Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, is included in the Annual Report.

28. STATEMENT OF COMPLIANCE OF APPLICABLE SECRETARIAL STANDARDS:

The Board hereby states that the Company has complied with all the applicable secretarial standards to the extent possible.

29. PARTICULARS OF LOANS GIVEN, GUARANTEES GIVEN OR INVESTMENTS MADE UNDER SECTION 186 OF COMPANIES ACT, 2013

Particulars of loans, guarantees and investments made by Company pursuant to Section 186 of the Companies Act, 2013 are given in the notes to the financial accounts forming part of the Annual Report. The loans and advances made by the Company, during the financial year under review, are within the limits prescribed in the section 186 of the Companies Act, 2013

30. MATERIAL CHANGES BETWEEN THE DATE OF THE BOARD REPORT AND END OF FINANCIAL YEAR

There have been no material changes and commitments affecting the financial position of the Company occurred between the end of the financial year of the Company to which the financial statements relate and the date of the report except change in Board and Key Managerial Personnel, and shifting of registered office of the Company from the State of Telangana to the State of Maharashtra. Also, subsequent to the year end the corporate office has been closed and records shifted to Registered Office. Due to Current Pandemic situation Companys operation has come to standstill. As per MCA Circular, Current year AGM is being held through Video Conferencing. Necessary procedure is given in the AGM Notice. Members are requested to update their Email ID either by writing to the Company or through the Register or Transfer Agents.

31. SIGNIFICANT AND / OR MATERIAL ORDERS PASSED BY THE REGULATORS

No significant and/or material order was passed by any Regulator, any Court in India or any Tribunal, impacting the going concern status and the Companys operations in future.

32. NOMINATION AND REMUNERATION POLICY

An extract of the Companys policy relating to directors appointment, payment of remuneration and discharge of their duties is annexed herewith as Annexure II. The web link to the Nomination and Remuneration Policy is as under: http://www.rubramed.com/policies/NominationandRemunerationPolicv.pdf

33. PARTICULARS OF EMPLOYEES

The Company does not have any employee/Director who is in receipt of remuneration aggregating to the sum prescribed in Section 197 of the Companies Act, 2013 ("the Act") read with Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.

34. DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013

The company has in place a policy for prevention of sexual harassment in accordance with the requirements of the Sexual Harassment of women at workplace (Prevention, Prohibition & Redressal) Act, 2013. Internal Complaints Committee has been set up to redress complaints received regarding sexual harassment. The Board thereafter constituted a sexual harassment committee where the chairperson of the Committee is Ms. Sneha Thakur, and Ms. Abha Kapoor and Mr. Gopal Sahu are the Members. All employees (permanent, contractual, temporary, trainees) are covered under this policy.

a. number of complaints filed during the financial year - None

b. number of complaints disposed of during the financial year - None

c. number of complaints pending as on end of the financial year - None

35. TRANSFER OF AMOUNTS TO INVESTOR EDUCATION AND PROTECTION FUND

The Company does not have any funds lying unpaid or unclaimed for a period of seven years. Therefore there were no funds which were required to be transferred to Investor Education and Protection Fund (IEPF).

36. ADEQUACY OF INTERNAL FINANCIAL CONTROLS

The Company has adequate internal financial controls besides timely statutory audit and limited reviews of performance taking place periodically.

37. DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 134 of the Act, the Directors state that:

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

(b) Appropriate accounting policies have been selected and applied consistently and have 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 March 31, 2020 and of the profit for the Company for the year ended March 31, 2020;

(c) Proper and sufficient care has been taken 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 annual accounts have been prepared on a going concern basis;

(e) Proper internal financial controls were followed by the Company and such internal financial controls are adequate and were operating effectively;

(f) Proper systems are devised to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.

38. REGISTERED OFFICE OF THE COMPANY

During the period under review, the registered office of the Company was shifted from the State of Telangana to the State of Maharashtra. Also, subsequent to the year end

the corporate office has been closed and all records were shifted to the Registered Office.

39. ACKNOWLEDGEMENT

Your Directors takes opportunity to show gratitude towards the assistance and cooperation received from Shareholders.

For and on Behalf of the Board of Directors of

RUBRA MEDICAMENTS LIMITED

Place: Mumbai
Date: September 4, 2020 Director Director