To,
The Members of
Sampann Utpadan India Limited (Formerly Known as S. E. Power Limited)
Your Board of Directors take pleasure in presenting the 13th Boards Report,
along with the summary of Standalone and Consolidated Financial Statements for the year
ended March 31, 2023. This report read with Corporate Governance Report and Management
Discussion & Analysis.
Financial Highlights
The Standalone financial performance of the Company for the Financial Year 2022-23 as
compared to previous financial year is summarized below:
(Figures In Lakhs)
Particulars |
FY 2022-23 |
FY2021-22 |
Revenue from Operations |
5,774.17 |
4,803.85 |
Other Income |
50.94 |
64.03 |
Total Revenue |
5825.11 |
4,867.88 |
Less: Expenditure except Financial Cost and Depreciation |
5,468.63 |
4,497.94 |
Profit/Loss before Financial Cost, Depreciation and Tax |
356.48 |
369.96 |
Less: Financial Cost |
97.64 |
332.31 |
Less: Depreciation and amortization |
481.57 |
445.00 |
Less: Exceptional Items |
- |
13.13 |
Profit/Loss before Tax (PBT) |
(222.73) |
(394.23) |
Less: Tax Expenses |
(56.02) |
(99.22) |
Profit/Loss after Tax (PAT) |
(166.71) |
(295.01) |
Balance carried to Balance Sheet |
(4,391.41) |
(4,224.71) |
Major Highlights of FY23
The Standalone and Consolidated Financial Statements of the Company for the financial
year ended March 31, 2023, have been prepared in accordance with the Indian Accounting
Standards (Ind AS) as notified by the Ministry of Corporate Affairs and as amended from
time to time.
(i) Your Companys Total Revenue on a consolidated basis, stood at Rs. 5,825.13 Lakhs
for the current year as against Rs. 4,867.89 Lakhs in the previous year, recorded an
increase of 19.66%. Your Companys net loss decreased to Rs 168.51 Lakhs for the current
year as against Rs. 296.78 Lakhs in the previous year.
(ii) Your Companys Total Revenue on a standalone basis, stood at Rs. 5,825.11 Lakhs
for the current year as against Rs. 4,867.88 Lakhs in the previous year, recorded an
increase of 19.66%. Your Companys net loss decreased to Rs. 166.70 Lakhs for the current
year as against Rs. 295.01 Lakhs in the previous year.
Subsidiary Company
The Company has only one Wholly Owned Subsidiary viz. Shubham Electrochem Limited.
During the reporting period the subsidiary reported Nil Income and Profit Before Tax (PBT)
and Profit After Tax (PAT) stood at Rs. (1.65) Lakhs and Rs. (1.81) Lakhs respectively.
Dematerialization of Equity Shares
Equity Shares of the Company are compulsorily tradable in demat form. As on March 31,
2023, 99.95% of the Equity Shares are held in demat form and only 21,006 Number of Equity
Shares of Rs. 10/- each out of total Equity Shares were held in physical form.
Dividend
In the fiscal year being assessed, the Company did not generate profits. As a result,
the Board of Directors expresses their regret for being unable to propose any dividends
for the present year.
Fixed Deposits
The Company has refrained from receiving any public deposits as defined by Section 73
of the Companies Act, 2013, in conjunction with the Companies (Acceptance of Deposit)
Rules, 2014. Consequently, there were no outstanding amounts of principal or interest on
public deposits as of the balance sheet date.
Change in the Nature of Business
During under review there was no change in the nature of business of the Company.
Material Changes and Commitments, if any, 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
No significant alterations or obligations or material changes occurred that would
impact the Companys financial status have taken place between the conclusion of the
relevant financial year and the report date.
Details of Revision of Financial Statement or the Report
There was no revision in Financial Statement or the Report in respect of any of the
three preceding financial years.
Share Capital
There was no change in the Companys share capital during the year under review. The
Companys paid-up equity share capital remained at Rs. 40,61,00,000/- comprising of
4,06,10,000 Equity Shares of Rs 10/- each.
Credit Rating
M/s Infomerics Valuation and Rating Pvt. Ltd. assigned following rating to Companys
instruments:
Rating Agency |
Instrument Type |
Rating |
Date on which Credit Rating obtained |
Infomerics Valuation and Rating Private Limited |
Long Term Bank Facilities |
IVR BB-/Stable |
October ,18 2022 |
| Short Term Bank Facilities |
IVR-A-4 |
Change in Name of the Company
Pursuant to the Shareholders Resolution Passed thought Postal Ballot by electronic
means on July 20, 2023 the name of Company has been changed from "S. E. Power
Limited" to "Sampann Utpadan India Limited" with effect from July 27, 2023.
Scrip Code
Pursuant to the change of name of the Company the security name of the Company on BSE
Limited and National Stock Exchange of India Limited is changed from S. E. Power Limited
to Sampann Utpadan India Limited with BSE scrip code 534598 and NSE scrip symbol
SAMPANN with effect from August 23, 2023.
Board of Directors, Board Meetings and Key Managerial Personnel
The Companys Board is duly constituted and is in compliance with the requirements of
the Companies Act, 2013, SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, as applicable on the Company and provisions of the Articles of
Association of the Company. The Companys Board has been constituted with requisite
diversity, wisdom and experience commensurate to the business of your Company.
As on March 31, 2023, the Board of the Company comprises of Seven (7) Directors which
includes one Non-Executive NonIndependent Directors, two Executive Directors and four
Independent Directors.
The Directors on the Board have experience in the field of finance, legal, statutory
compliance, engineering and accounts. None of the Directors are disqualified under the
provisions of Companies Act, 2013 and SEBI (LODR) Regulations, 2015 as at March 31, 2023.
Appointment/Reappointment of Directors or KMP
In terms of Section 152 of Companies Act, 2013, Mr. Sanjeetkumar Gourishankar Rath is
liable to retire by rotation at the ensuing Annual General Meeting and being eligible for
re-appointment, offers himself for re-appointment.
The Board of the Company recommends re-appointment of Mr. Sanjeetkumar Gourishankar
Rath as a Director of the Company, liable to retire by rotation.
On May 04, 2023 Shareholders of the Company passed the Resolution through Postal Ballot
for the Re appointment of Mr. Sachin Agarwal as Managing Director and Mr. Sanjeetkumar
Gourishankar Rath as Executive Director of the Company for the further term of Five Years.
The effective date of Appointment of Mr. Sachin Agarwal is May 18, 2023 to May 17, 2028
and for Mr. Sanjeetkumar Gourishankar Rath is June 28, 2023 to June 27, 2028 respectively.
On August 22, 2023 Mr. Arun Gopal Agarwal, Non-Independent Non- Executive Director/
Chairman of the Company has resigned from the Board and Chairmanship of the Company due to
his health reasons which was also confirmed by him through resignation letter. There is no
other reason other than that stated in the resignation letter.
Pursuant to the provisions of Section 149 of the Companies Act, the independent
directors have submitted declarations that each of them meets the criteria of independence
as provided in Section 149(6) of the Act along with Rules framed thereunder and Regulation
16(1) (b) of the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015. There has been no change in the circumstances
affecting their status as independent directors of the Company.
During the year under review, the Non-Executive Directors of the Company had no
pecuniary relationship or transactions with the Company.
As per the declaration given by the Directors, None of the Directors of the Company is
disqualified under Section 164 of the Companies Act, 2013.
Board Meetings
During the year under review, a total of Five Meetings of the Board of Directors of the
Company were held, i.e., on April 18, 2022, August 08, 2022, August 25, 2022, November 10,
2022 and February 06, 2023. Details of Board composition and Board Meetings held during
the financial year 2022-23 have been provided in the Corporate Governance Report which
forms part of this Report.
Audit Committee
The composition, terms of reference and details of meetings during the year ended March
31, 2023, are disclosed in the Corporate Governance Report. All the recommendations made
by the Audit Committee were accepted by the Board of Directors and hence no disclosure is
required under Section 177(8) of the Companies Act, 2013 with respect to rejection of any
recommendations of Audit Committee by Board.
The Audit Committee has been reconstituted by the Board due to the resignation of Mr.
Arun Gopal Agarwal as the Director, Chairman and Member of the Audit Committee of the
Company on August 22, 2023 and accordingly Mr. Pramod Agarwal Independent Director of the
Company was appointed as the Member of the Audit Committee w.e.f. August 29, 2023.
Stakeholders Relationship Committee
The Stakeholders Relationship Committee has been constituted as per Section 178 (5) of
the Companies Act, 2013 read with Regulation 20 of the Listing Regulations. The
Stakeholders Relationship Committee consider and resolve the grievances of the security
holders of the company including complaints related to transfer of shares, non-receipt of
annual report etc. The composition, terms of reference and details of meetings during the
year ended March 31, 2023, are disclosed in the Corporate Governance Report.
The Stakeholders Relationship Committee has been reconstituted by the Board due to the
resignation of Mr. Arun Gopal Agarwal as the Director, Chairman and Member of the
Stakeholders Relationship Committee of the Company on August 22, 2023 and accordingly Mr.
Pramod Agarwal Independent Director of the Company was appointed as the Member of the
Stakeholders Relationship Committee w.e.f. August 29, 2023.
Nomination and Remuneration Committee
Nomination and Remuneration Committee of the Board has been constituted as per Section
178 of the Companies Act, 2013 and rule 6 of the Companies (Meetings of Board and its
Powers) Rules, 2014 and read with Regulation 19 of the Listing Regulations. The Nomination
and Remuneration Committee determines qualifications, positive attributes and independence
of a director and recommend to the Board a policy relating to the remuneration of the
directors, Managerial Personnel and other employees. The composition, terms of reference
and details of meetings during the year ended March 31, 2023, are disclosed in the
Corporate Governance Report.
The Nomination and Remuneration Committee has been reconstituted by the Board due to
the resignation of Mr. Arun Gopal Agarwal as the Director, Chairman and Member of the
Nomination and Remuneration Committee of the Company on August 22, 2023 and accordingly
Mr. Pramod Agarwal Independent Director of the Company was appointed as the Member of the
Nomination and Remuneration Committee w.e.f. August 29, 2023.
Policy on Directors Appointment and Remuneration
The Company strives to maintain an appropriate combination of Executive, Non-Executive
and Independent Directors subject to a minimum of 6 (six) and maximum of 15 (fifteen)
Directors, including at least one-woman Director.
The Nomination & Remuneration Committee of the Company leads the process for
Directors appointment in accordance with the requirements of Companies Act, 2013, Listing
Regulations and other applicable rules or guidelines. All the Board appointments are based
on meritocracy. Generally, the Managing Director and Whole-time Directors (Executive
Directors) are appointed for a period of five years. Independent Directors of the Company
are appointed to hold their office for a term of up to five consecutive years on the Board
of your Company. Based on their eligibility for re-appointment, the outcome of their
performance evaluation and the recommendation by the Nomination and Remuneration
Committee, the
Independent Directors may be re-appointed by the Board for another term of five
consecutive years, subject to approval of the Shareholders of the Company. The Directors,
Key Managerial Personnel and Senior Management Personnel shall retire as per the
applicable provisions of the Companies Act, 2013 and the policy of the Company.
The potential candidates for appointment to the Board are inter-alia evaluated on the
basis of personal and professional ethics, standing, integrity, values and character;
appreciation of the Companys vision, mission, values; prominence in business,
institutions or professions; professional skill, knowledge and expertise; financial
literacy and such other competencies and skills as may be considered necessary.
In addition to the above, the candidature of an Independent Director is also evaluated
in terms of the criteria for determining independence as stipulated under Companies Act,
2013, Listing Regulations, other applicable regulations or guidelines. In case of
re-appointment of Director, the Board shall take into consideration the results of the
performance evaluation of the Directors and their engagement level.
The Company has Remuneration Policy for Directors, KMPs and other employees, which is
reviewed by the Board of Directors of the Company, time to time, the policy represents the
overarching approach of the Company for the remuneration of Director, KMPs and other
employees.
Company conducts a Board Evaluation process for the Board of Directors as a whole,
Board Committees and also for the Directors individually through self-assessment and peer
assessment.
Board Evaluation
In line with the provisions of the Companies Act, 2013 and SEBI Guidance Note on Board
evaluation issued on January 5, 2017 read with relevant provisions of the SEBI Listing
Regulations, 2015, the Board has carried out an annual evaluation of its own performance
and that of its committees and individual Directors through the separate meeting of
Independent Directors and the Board as a whole. The Board evaluated the effectiveness of
its functioning, that of the Committees and of individual directors, after taking feedback
from the Directors and Committee members. The performance of the Independent Directors was
evaluated by the entire Board except the person being evaluated, in their meeting held on
February 06, 2023.
A separate meeting of Independent Directors was held on February 17, 2023, to review
the performance of NonIndependent Directors, performance of the Board and Committee as a
whole and performance of the Chairman of the Company, taking into account the views of
Executive Directors and the Non-Executive Directors.
The performance evaluation of the Board and its constituents was conducted on the basis
of functions, responsibilities, competencies, strategy, tone at the top, risk
identification and its control, diversity, and nature of business. A structured
questionnaire was circulated to the members of the Board covering various aspects of the
Boards functioning, Board culture, execution and performance of specific duties,
professional obligations and governance. The questionnaire is designed to judge knowledge
of directors, their independence while taking business decisions; their participation in
formulation of business plans; their constructive engagement with colleagues and
understanding the risk profile of the company, etc. In addition to the above, the Chairman
of the Board and / or committee is evaluated on the basis of his leadership, coordination
and steering skills.
In the Board meeting that followed the meeting of the Independent Directors and meeting
of Nomination and Remuneration Committee, the performance of the Board, its committees,
and individual directors was also discussed. Performance evaluation of Independent
Directors was done by the entire board, excluding the Independent Director whose
performance is being evaluated.
Compliance with the Code of Conduct of Board of Directors and Senior Management
The Board of Directors and Senior Management of the Company have complied with the
Companys Code of Conduct applicable to Board of Directors and Senior Management. In this
regard Declaration signed by the Managing Director is annexed and forms part of this
Report.
Directors Responsibility Statement
Pursuant to the requirement of Section 134(3)(c) read with Section 134(5) of the
Companies Act,2013 with respect to Directors Responsibility Statement, the Directors, to
the best of their knowledge and belief, hereby confirm that your Directors confirm that:
a) in the preparation of the annual accounts, the applicable accounting standards have
been followed and that no material departure has been made in following the same;
b) appropriate accounting policies have been selected and applied consistently and
judgements and estimates made 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 that period;
c) proper and sufficient care for maintenance of adequate accounting records in
accordance with the
d) provisions of Companies Act, 2013 have been taken for safeguarding the assets of the
Company and for
e) preventing and detecting frauds and other irregularities;
f) the annual accounts have been prepared on a going concern basis;
g) internal financial controls to be followed by the Company had been laid down and
such internal financial
h) controls are adequate and operating effectively; and
i) proper systems have been devised to ensure compliance with the provisions of all
applicable laws and that such systems are adequate and operating effectively.
Auditors & Audit Reports
Statutory Auditor and Statutory Audit Report
in the 11th AGM of the Company, M/s D Tayal & Jain, Chartered Accountants, (Firm
Registration No. 011181C), was appointed as Statutory Auditors of the Company for a term
of five years from the conclusion of 11th AGM till the conclusion of the 16th AGM.
Statutory Auditors M/s D Tayal & Jain, Chartered Accountants, (Firm Registration
No. 011181C) has audited the books of accounts of the Company for the financial year ended
March 31, 2023 and has issued the Auditors Report thereon.
There are no qualifications or reservations on adverse remarks or disclaimers in the
said report.
Secretarial Auditor and Secretarial Audit Report
In accordance with 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, and as a measure of good Corporate Governance practice, Board of Directors in their
Meeting held on February 6, 2023 has appointed M/s. Satish Jadon & Associates,
Practicing Company Secretaries, as Secretarial Auditor of the Company to conduct
Secretarial Audit of the Company for financial year ended March 31, 2023 and to submit
Secretarial Audit Report in Form No. MR-3.
A copy of the Secretarial Audit Report received from M/s. Satish Jadon & Associates
in the prescribed Form No. MR-3 is annexed to this Boards Report and marked as Annexure
A.
Pursuant to circular No. CIR/CFD/CMD1/27/2019 dated February 8, 2019, issued by the
Securities and Exchanges Board of India and Regulation 24A(2) of SEBI (LODR) Regulations,
2015, the Company has obtained Secretarial Compliance Report for financial year ended
March 31, 2023, from Practicing Company Secretary on compliance of all applicable SEBI
Regulations and circular/ guidelines issued thereunder, and the copy of the same has been
submitted with the Stock Exchanges within the prescribed due date.
The Report of Secretarial Auditor is self-explanatory and no explanation is required
thereon from the Board of Directors of the Company.
Secretarial Standards
During the year under review, the Company has adhered with the relevant Secretarial
Standards issued by the Institute of Company Secretaries of India.
Fraud reported by auditors under Section 143 (12) other than those which are reported
to the Central Government.
Pursuant to provisions of Section 143(12) of the Companies Act, 2013, the Auditors of
the Company have not reported about any fraud, which is being or has been committed in the
Company by its officers or employees.
Particulars of Contracts or Arrangements with Related Parties
During the year under review, there were no materially significant related party
transactions which could have had a potential conflict with the interests of the Company
and do not attract the provisions of Section 188(1) of the Companies Act, 2013. The
related party transactions were periodically placed before the Audit Committee and/or
Board for its approvals or review as and when required. The policy on Material Related
Party Transactions is available on the Companys website.
Significant and Material Litigations / Orders
During the year, there were no significant and material orders passed by the Regulators
/ Courts which would impact the going concern status of the Company and its future
operations.
Particulars of Conservation of Energy, Technology Absorption, Foreign Exchange Earnings
and Outgo
The particulars pursuant to Section 134(3)(m) of Companies Act, 2013, read with Rule 8
of the Companies (Accounts) Rules, 2014 to the extent applicable are as under:
(A) Conservation of energy-
i. Company has been continually working on energy conservation and has taken and
implemented various measures towards this in production, domestic lightning and cooling
facilities. Company has installed significant numbers of powerless turbo ventilators in
the entire working shed for ventilation using zero power. Building have been designed to
ingress adequate natural light thus requiring no artificial lightning during the day time.
Many provisions have been made in various machines for consuming energy. During processing
line, losses has been maintained close to zero by adequate design of cables and other
systems.
ii. Company has installed solar power plant at its rubber reclamation plant for captive
consumption and Company at its non-conventional energy division, generate electricity by
wind energy and transfer the same to power grids.
(B) Technology absorption-
i. The efforts made towards technology absorption |
Its a continual process and the drive for reaching and adapting new
technology is always under progress. |
ii. The benefits derived like production improvement, cost
reduction, product development or import substitution |
Performance improvement is a continual process with respect to
productivity, delivery, quantity cost and safety. Company is regularly following this and
each department has set its own objective for performance improvement, which is closely
monitored and regulated. With continued improvement in technology our production rate has
been improved. |
iii. In case imported technology (imported during last 3
years reckoned from the beginning of the financial year) |
(a) The details of technology imported |
Company is using imported machines in its reclaimed rubber division. |
(b) The year of import |
2020-2023 |
(c) Whether technology been fully absorbed |
Yes |
(d) Research and developments |
The company seeks regular technical support from experts in this field
and undertake appropriate R&D activities depending upon future requirements. |
(C) Foreign exchange earnings and Outgo-
The details of the foreign exchange exposure during the period under review are as
under:
(Figures In Lakhs)
Particulars |
2022-2023 |
2021-2022 |
Total Foreign Exchange Earnings |
10.63 |
80.35 |
Total Foreign Exchange Outgo (Imported Raw material) |
474.13 |
263.13 |
Total Foreign Exchange Outgo (Foreign Travel expense) |
0.71 |
- |
Internal Financial Controls
Internal Financial Control System is an integral component of the Risk
Management System of the Company. The internal financial control policies and internal
audit program adopted by the Company plays an important role in safeguarding the Companys
assets, prevention and detection of frauds and errors, the accuracy and completeness of
the accounting records and timely preparation of reliable financial disclosures.
The Board has adopted procedures for ensuring the orderly and efficient
conduct of its business, including risk management feedback loop, in which the information
generated in the internal control process is reported back to Board and Management.
A firm of Competent Chartered Accountants has been engaged by the Company
for conducting internal audit, to examine and evaluate the adequacy and effectiveness of
internal financial control system of the Company. The Audit Committee of Board of
Directors, Statutory Auditor and the Business Heads are periodically apprised of the
internal audit findings and corrective actions taken.
The Audit Committee of Board of Directors actively reviews the adequacy
and effectiveness of internal financial control system and suggests improvements for
strengthening them. Internal Financial Control System of the Company is adequate with the
respect to the operations of the Company. |
Statement on Risk Management
The Board identified and reviewed the various elements of risk which the Company has to
face and laid out the procedures and measures for mitigating those risks. The elements of
risk threatening the Companys existence are minimal. The company does not face any risks
other than those that are prevalent in the industry and is taking all possible steps to
overcome such risks. The main concerns are volatilizing in raw material prices,
maintenance of machineries, market pressure, etc.
As a part of the overall risk management strategy, all assets are appropriately
insured.
Human Resources
Throughout the reviewed period, the Company maintained positive industrial relations,
fostering a collaborative and cooperative atmosphere.
The Company remains dedicated to offering a conducive workplace that encourages growth
and exploration, ensuring a consistently harmonious and cordial environment across all
levels.
Remuneration Received by Managing/Executive Director Neither from Subsidiary Company
Neither the Managing Director nor the Executive Director of the Company receive any
remuneration or commission from the Subsidiary Company.
Prevention of Sexual Harassment at Workplace
The Company has zero tolerance for sexual harassment at workplace and has adopted a
policy on prevention, prohibition and redressal of sexual harassment at workplace in line
with the requirements of the Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013 and rules made thereunder. The Directors of the
Company state that during the year under review there was no case filed pursuant to Sexual
Harassment of Woman at Workplace (Prevention, Prohibition and Redressal) Act, 2013.
Familiarization Programme for Independent Directors
Every new Independent Director of the Board attends an orientation program, which is to
familiarize the new NonExecutive Director with the strategy, operations and functions of
the Company. The Executive Directors / Senior Managerial Personnel conduct meetings with
the Non-Executive Directors to make them understand the Companys strategy, operations,
product and organization structure, human resources, facilities and risk management.
Through meetings and interaction among Managements and Non- Executive Directors and
Independent Directors, Company has made its best effort to ensure that the Non- Executive
Directors understand their roles, rights, responsibilities in the Company.
Further, at the time of appointment of an Independent Director, the Company issues a
formal letter of appointment outlining his/her role, function, duties and responsibilities
as an Independent Director. The format of the letter of appointment is available on
Companys website.
Disclosures as per the Provision of Section 197 (12) of Companies Act, 2013
In accordance with the provisions of Section 197(12) of the Companies Act, 2013, read
with Rule 5(1) of Companies (Appointment and Remuneration of Managerial Personnel) Rules,
2014 information regarding employees is annexed as Annexure-B to this report.
Annual Return
In accordance with the provisions of Section 92(3) read with Section 134(3) (a) of the
Act and the applicable rules, Annual Return of the Company as on March 31, 2023 is hosted
on website of the Company at https://www. suil.in
Management Discussion and Analysis Report
In terms of Regulation 34 of the Listing Regulations, 2015 read with other applicable
provisions, the detailed review of the operations, performance and future outlook of the
Company and its business is given in the Managements Discussion and Analysis Report which
forms part of this Board Report as Annexure-C.
Vigil Mechanism / Whistle Blower Policy
The vigil mechanism as envisaged in the Companies Act, 2013, the rules prescribed
thereunder and the SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015 is implemented through the Companys Whistle Blower Policy to enable the Directors
and Employees of the Company to report genuine concerns, to provide for adequate
safeguards against victimization and make provision for direct access to the Chairman of
the Audit Committee. Details of vigil mechanism/whistle blower are included in the
Corporate Governance Report, forming part of this Report.
During the financial year 2022-23, no cases under this mechanism have been reported.
Corporate Governance
The Company is committed to maintain the good standards of corporate governance and
adhere to the corporate governance requirements set out by SEBI. The Company continues to
benchmark its corporate governance policies in its true sense. The report on Corporate
Governance as stipulated under the Listing Regulations forms an integral part of this
report as Annexure-D.
The requisite certificate from Secretarial Auditor M/s Satish Jadon & Associates,
Company Secretaries confirming compliance with the conditions of corporate governance is
annexed to the report on Corporate Governance as Annexure D.
Certificate From the Managing Directors and Chief Financial Officer
The certificate received from Mr. Sachin Agarwal, Managing Director and Mr. Rutvij
Ramchandra Khangiwale, Chief Financial Officer with respect to the financial statements
and other matters as required under Part B of Schedule II of the SEBI (Listing Obligations
and Disclosure Requirements) Regulation, 2015 forms part of this Report.
Acknowledgements
The Board of Directors extend their thanks to customers, vendors, dealers, investors,
business associates, and bankers for their ongoing backing throughout the year. We
acknowledge the dedication and input of employees across all tiers, whose hard work,
unity, cooperation, and support enabled us to overcome challenges.
We are grateful to the Government of India, State Governments, statutory authorities,
and other government agencies for their assistance and anticipate their continued support
going forward.
Place: - New Delhi |
For and on behalf of Board of |
Date: -August 29,2023 |
Sampann Utpadan India Limited |
|
(Formerly Known as S. E. Power Limited) |
Sd/- |
Sd/- |
(Sachin Agarwal) |
(Sanjeetkumar Gourishankar Rath) |
Managing Director |
Executive Director |
DIN:-00007047 |
DIN:- 08140999 |
+91-9892691696
