TO THE MEMBERS,
e Directors have pleasure in presenting before you the fortieth Annual Report of SANDU PHARMACEUTICALS LIMITED together with Standalone and Consolidated Audited Balance Sheet and Statement of Profit & Loss for the financial year ended 31st March, 2025.
FINANCIAL RESULTS:-
Your Company Sandu Pharmaceuticals Limited is engaged in Manufacturing of Ayurvedic Products that promotes healing, prevention and longevity by harnessing the power of Ayurved.
e Companys financial performance, for the year ended March 31, 2025 is summarized below:
(in Lakhs)
Standalone |
Consolidated |
|||
Particulars |
2024-25 | 2023-24 | 2024-25 | 2023-24 |
| Revenue from Operations (Gross) | 6719.24 | 6728.07 | 6719.24 | 6728.07 |
| Other Income | 16.75 | 42.13 | 16.75 | 42.13 |
| Total Income | 6735.99 | 6770.20 | 6735.99 | 6770.20 |
| Total Expenses | 6520.41 | 6562.97 | 6520.14 | 6562.97 |
| Profit/(loss) before exceptional items and tax | 215.58 | 207.24 | 215.85 | 207.24 |
| Exceptional Items / Prior Period Adjustment | 0.00 | 0.00 | 0.00 | 0.00 |
| Exceptional Items / Prior Period Adjustment | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit/Loss Before Tax | 215.58 | 207.24 | 215.85 | 207.24 |
Tax Expenses |
||||
| Current Tax | 58.86 | 58.71 | 58.85 | 58.71 |
| Deferred Tax | 1.83 | 2.46 | 1.83 | 2.46 |
| Short/(excess) tax provision | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Tax Expenses | 60.69 | 61.17 | 60.68 | 61.17 |
| Profit/(Loss) for the Period | 154.89 | 146.07 | 155.17 | 146.07 |
| Total Other Comprehensive Income (Net of Tax) | 64.58 | 61.79 | 64.58 | 61.49 |
| Total Comprehensive Income for the period (Net of | 219.47 | 207.56 | 219.75 | 207.56 |
| Tax) | ||||
| Earnings per equity shares | ||||
| Basic | 1.60 | 1.51 | 1.61 | 1.51 |
| Diluted | 1.60 | 1.51 | 1.61 | 1.51 |
REVIEW OF OPERATIONS (in lakhs) Standalone (in lakhs)
In the financial year 2024-25 the company achieved an Income from operations of Rs 6719.24 as compared to
Rs 6728.07 in the previous year.
Profit before tax was Rs 215.58 for the year ending 31st March, 2025 as compared to Profit of Rs 207.24 in the previous year. Profit after tax was Rs 154.89 for the year ended 31st March, 2025 as compared to a Profit of Rs 146.07 in the previous year.
Consolidated (in lakhs)
In the financial year 2024-25 the company achieved an Income from operations of Rs 6719.24 as compared to Rs 6728.07 in the previous year.
Profit before tax was Rs 215.85 for the year ending 31st March, 2025 as compared to Profit of Rs 207.24 in the previous year. Profit after tax was Rs 155.17 for the year ended 31st March, 2025 as compared to a Profit of Rs 146.07 in the previous year.
MATERIAL CHANGES AND COMMITMENTS
ere were no material changes and commitments affecting the financial position of the Company from the end of the financial year till the date of the Directors Report.
DETAILS OF SUBSIDIARY ,JOINT VENTURE OR ASSOCIATE COMPANIES
As on 31st March 2025, your Company doesnt have any Subsidiary ,Joint Venture or Associate Company In accordance with the provisions of Regulation 16(1)(C) of the Listing Regulations pertaining to the threshold for determining Material Subsidiary of the Company, there was no Material Subsidiary of the Company during the financial year.
DECLARATION AND PAYMENT OF DIVIDEND
e Company has a track record of rewarding its shareholders. An Final dividend of Rs 0.80 paisee per equity share (8%) for the FY 2024-25 recommended by Board of Directors subject to approval of Shareholders. is recommendation is a reflection of the Companys improved financial performance and its commitment to enhancing shareholder value.
SHARE CAPITAL:
As on 31st March 2025, the authorised, issued, subscribed and paid-up Share Capital is as follows :
| Authorised | Rs 10,00,00,000 (Ten Crore Only) |
| Capital | |
Issued, Subscribed and Paid-up Share |
Rs 9,66,09,900 (Nine Crore Sixty Six Lakhs Nine ousand and Nine |
| Capital | Hundred Only) |
DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016
During the year, no applications have been made and no proceedings are pending against the Company under the Insolvency and Bankruptcy Code, 2016.
RISK MANAGEMENT:
e Board has laid down a clear Risk Management Policy to identify potential business risks and install effective mitigation processes to protect Companys assets and business Risks. Risk Management Policy and the details of this policy are available on the website of the Company under the web link https://sandu.in/image/catalog/info-pages/Announcement/policies/Risk-Management-Policy. pdf.
INTERNAL FINANCIAL CONTROL SYSTEMS AND THEIR ADEQUACY:
e Company has adequate Internal Financial Control Systems, commensurate with the size, scale and complexity of its operations. e Management evaluates the efficacy and adequacy of internal control system in the Company, its compliance with operating systems, accounting procedures and policies of the Company on an ongoing basis.
VIGIL MECHANISM / WHISTLE BLOWER POLICY:
Pursuant to Section 177(9) of the Companies Act, 2013 read with Rule 7 of the Companies (Meetings of Board and its Powers) Rules, 2014 and Regulation 22 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors had approved the Policy on Whistle Blower. is Policy inter-alia provides a direct access to the Chairman of the Audit Committee.
Your Company hereby afirms that no Director/ employee have been denied access to the Chairman of the Audit Committee and that no complaints were received during the year. Whistleblower Policy approved and adopted by the Board of Directors which can be accessed in our website https://sandu.in/image/catalog/info-pages/ Announcement/policies/Whistle-Blower-Policy.pdf.
DIRECTORS AND KEY MANAGERIAL PERSONNEL:-(a) Key Managerial Personnel.
Shi Umesh Sandu-Managing Director, Shri Vijay Kajarekar-Chief Financial Officer,Smt Pratika Mhambray-Company Secretary have been designated as Key Managerial Personnel in accordance with the provisions of Section 203 of the Companies Act 2013.
ere was no change in the Key Managerial Personnel during the year under review.
(b) Appointment/Reappointment/Cessation
In accordance with the provision of the Act and Articles of Association of the Company, Shri Shashank B Sandu Non Executive Director of the Company retires by rotation and being eligible offers himself for reappointment .A resolution seeking members approval for his reappointment forms part of the Notice Shashank B Sandu holding DIN:00678098 (Non Executive Director) retires by rotation and, being eligible offer himself for Re appointment. Smt Shubhada Sandu DIN:07148834, Non Executive
Non Independent Director has tendered her resignation with effect from closure of business hour dated 13th February 2025.
e Board places on record deep appreciation for the valuable contribution guidance and services by Smt Shubhada Sandu during her association with the Company.
During the year under review, the Non Executive Directors of the Company had no pecuniary relationship or transactions with the Company other than sitting fees, commission and reimbursement of expenses incurred by them for the purpose of attending meetings of the Board/Committee of the Company.
(c ) Declaration by Independent Director
Pursuant to sub section (7) of Section 149 of the Companies Act 2013 read with rules made thereunder, all the Independent Directors of the Company have given the declaration that they meet criteria of Independence as laid down in subsection (6) of Section 149 of the Act and Regulation 16(1)(b) of the SEBI
(Listing Obligation and Disclosure Requirements) Regulation 2015.
e 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 the Rules framed thereunder and Regulation 16(1) (b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
During FY 2024-25 there has been no change in the circumstances affecting their status as Independent Directors of the Bank. In the opinion of the Board, the Independent Directors possess the requisite integrity, experience, expertise, skills, and pro_ciency required under all applicable laws and the policies of the Bank. All the Independent Directors of the Company have been registered and are members of Independent Directors Database maintained by the Indian Institute of Corporate Affairs, pursuant to Rule 6 of the Companies (Appointment and Qualification of Directors) Rule 2014. ey are also in compliance with the requirement of Online Pro_ciency self Assessment Test.
BOARD EVALUATION
Pursuant to the provisions of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 the Board has carried out an annual evaluation of its own performance, the Directors individually as well as the evaluation of the working of its Audit, Nomination & Remuneration and Stakeholders Relationship Committee. e manner in which the evaluation has been carried out has been given in the Corporate Governance Report. e Weblink of familiarization Programme undertaken for Independent Director is also available https://sandu.in/wp-content/ uploads/2025/04/FAMILIARISATION-PROGRAMMES-FOR-INDEPENDENT-DIRECTOR.pdf.
e Nomination and Remuneration Committee has defined the evaluation criteria and procedure for the Performance Evaluation process for the Board, its Committees and Directors. e criteria for Board Evaluation include inter alia, Board structure and composition, establishment and delineation of responsibilities to various Committees, effectiveness of Board processes, information and functioning.
Criteria for evaluation of individual Directors include aspects such as attendance and contribution at Board/ Committee Meetings and guidance/ support to the Management outside Board/ Committee Meetings. In addition, the Chairman was also evaluated on key aspects of his role, including setting the strategic agenda of the Board, encouraging active engagement by all Board Members and motivating and providing guidance to the Managing Director/Executive Director.
Criteria for evaluation of the Committees of the Board include degree of fulfillment of key responsibilities, adequacy of Committee composition and effectiveness of meetings.
NOMINATION AND REMUNERATION POLICY
e policy of the Company on Directors Appointment and Remuneration, including criteria for determining qualifications, positive attributes, independence of a Director and other matter, as required under sub section (3) of Section 178 of the Companies Act, 2013 is available on our website https://sandu.in/wp-content/uploads/2025/03/ Nomination-and-Remuneration-Policy-13.02.2025.pdf. We afirm that the remuneration paid to the Directors is as per the terms laid out in the Nomination and Remuneration Policy of the Company. Amended Nomination and Remuneration Policy has been updated on the Company Website.
MEETINGS
During the year 05 (Five) Board Meetings and 05 (Five) Audit Committee Meetings were convened and held. e details of which are given in the Corporate Governance Report. e intervening gap between the Meetings was within the period prescribed under the Companies Act 2013.
AUDIT COMMITTEE
e details of the Composition of the Audit Committee are given in the Corporate Governance Report. During the year all the recommendations of the Audit Committee were accepted by the Board.
POLICIES
We seek to promote and follow the highest level of ethical standards in all our business transactions guided by our value system. e SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 mandated the formulation of certain policies for all Listed companies. All our Corporate Governance policies are available on our website www.sandu.in. e policies are reviewed periodically by the Board and updated based on need and new compliance requirement.
In addition to its Code of Conduct and Ethics, key policies that have been adopted by the Company are as follows:
DIRECTORS RESPONSIBILITY STATEMENT:-
In accordance with the provisions of section 134(3) (c) read with section 134(5) of the Companies Act 2013, your Directors confirm that a) In the preparation of annual accounts, for the year ended 31st March 2025, the applicable accounting standards read with the requirements set out under Schedule III to the Act, have been followed and there are no material departures from the same. b) Appropriate accounting policies have been selected and applied consistently and judgments and estimates made are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as on 31st March, 2025 and of the profit of the Company for the year ended on that date. c) Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities. d) e annual accounts have been prepared on a Going Concern Basis. e) Internal financial controls to be followed by the
Company have been laid down and that such internal financial controls are adequate and are operating effectively and f) Proper systems have been devised to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.
STATEMENT ON DECLARATION FROM INDEPENDENT DIRECTORS:
e Company has received necessary declarations from all Independent Directors of the Company in accordance with the provisions of Section 149(7) of the Companies Act, 2013 confirming that they meet the criteria of independence as prescribed under Section 149(6) of the Companies Act, 2013.
CORPORATE SOCIAL RESPONSIBILTY POLICY:
Section 135 of the Companies Act, 2013 relating to Corporate Social Responsibility is not applicable and hence the Company need not adopt any Corporate Social Responsibility Policy.
COMPLIANCE ON MATERNITY BENEFIT ACT, 1961
e Company has complied with the applicable provisions of Maternity Benefit Act, 1961 for female employees with respect to leaves and maternity benefits thereunder.
CORPORATE GOVERNANCE
In compliance with applicable provisions of SEBI Listing Regulations, a separate report on Corporate Governance along with a certificate of compliance from the Secretarial Auditors, forms an integral part of this Annual Report.
THE AMOUNT IF ANY WHICH IT PROPOSES TO CARRY TO ANY RESERVE
e Company has not transferred any amount to Reserve and hence it is NIL.
RELATED PARTY TRANSACTIONS:
All transactions entered into with related parties as defined under the Act and Regulation 23 of the SEBI Listing Regulations, each as amended, during the year under review were on an arms length price basis and in the ordinary course of business. ese have been approved by the Audit Committee. Certain transactions repetitive in nature were approved through an omnibus route by the Audit Committee. e Audit Committee takes into consideration the management representation whilst scrutinizing and approving all related party transactions, from the perspective of fulfilling the criteria of meeting arms length pricing and being transacted in the ordinary course of business e Related Party Contracts entered into between Related Parties, does not fall under the ambit of Section 188(1) of the Act. Details of transactions with related parties, as specified in Indian Accounting Standards (IND AS 24), have been reported in the Financial Statements. During the year under review, there was no transaction of a material nature with any of the related parties, which conflicted with the interests of the Company.
e Related Party Contracts entered into between Related Parties, does not fall under the ambit of Section 188(1) of the Act.
All the Related Party Transactions entered during the financial year were at arms length and in the ordinary course of business. In compliance with the provisions of the Companies Act 2013 and Regulation 23(2) of the SEBI Regulation 2015, all Related Party Transactions had been placed before the Audit Committee for prior approval. Pursuant to Section 134(3)(h) of the Act read with Rule 8(2) of the Companies (Accounts) Rules, 2014 information pertaining to Related Parties are given in Form AOC-2 as Annexure I of this Report.
SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS
ere were no significant material orders passed by the Regulators/Courts which could impact the going concern status of the Company and its future operations.
MATERIAL DEVELOPMENT
ere were no material developments / changes / commitments affecting the financial position of the Company which occurred after March 31, 2025 till the date of this Report.
AUDITORS
STATUTORY AUDITORS
M/s Dileep and Prithvi, are the Statutory Auditor of the Company reappointed for the term of 5 years i.e for the Financial Year 2021-2026 as recommended by Members of Audit Committee /Board of Directors and subsequently approved by the Members at the 36th Annual General Meeting.
SECRETARIAL AUDITOR
Pursuant to the provisions of Section 204 of the Act read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and Regulation 24A of the LODR Regulations, upon the recommendation of the Audit Committee, the Board of Directors approved and recommended for shareholders approval the appointment of Shri. Swapnil Dixit, Company Secretary in Practice (ACS No:A34739 Certificate of Practice No. 12942) for a term of 5 (five) years beginning from FY 2025-26, to carry out the Secretarial Audit of the Company.
Pursuant to provisions of section 204 of the Companies Act, 2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 the company has appointed for the FY 2024-25 Shri. Swapnil Dixit, Company Secretary in practice to undertake the Secretarial Audit of the Company.
COST AUDITOR
e Board of Directors has approved the appointment of M/s Shekhar Joshi & Co (membership No:100448 ) Cost Accountants as Cost Auditors for the Financial Year ending March 31, 2025.
In accordance with the provisions of Section 148 of the Act read with Companies (Audit & Auditors) Rules 2014, Company has appointed for the FY 2024-25 required to maintain Cost Records and accordingly such accounts and records are maintained by the Company. Further since the remuneration payable to the Cost Auditors is required to be rati_ed by the Shareholders, the Board recommends the same for approval by members at the ensuing Annual General Meeting.
PREVENTION OF SEXUAL HARASSMENT OF WOMEN AT WORKPLACE(POSH)/INTERNAL COMPLAINTS COMMITTEE
e Company has adopted a policy for prevention of sexual harassment at the workplace, in line with the requirements of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 ("POSH Act"). An Internal Complaints Committee ("ICC") has been duly constituted as per the provisions of the POSH Act to redress complaints regarding sexual harassment at the workplace.
During the financial year under review, the Company has complied with all the provisions of the POSH Act and the rules framed thereunder. Further details are as follow:
1 |
N received |
umber of sexual harassment complaints 0 |
| 2 | Number of complaints disposed of | 0 |
3 |
Number of cases pending for more than 90 days |
0 |
DISCLOSURE REQUIREMENTS
Your Company has complied with all the mandatory requirements of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.
• Management Discussion and Analysis is annexed as "ANNEXURE A" to the report
• Secretarial Audit Report as "ANNEXURE B".
• As per SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 with the Stock Exchanges, a separate section on the corporate governance is annexed as "Annexure C"
• Auditors Certificate on Corporate Governance
"Annexure D"
• Certificate from Chief Financial Officer under Regulation 17(8) of SEBI (LODR) Regulation
"Annexure E",
• Declaration from Managing Director "Annexure F"
• Certificate of Non Disqualification of Director
"Annexure G".
CONSERVATION OF ENERGY, RESEARCH AND DEVELOPMENT, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO.A) A) CONSERVATION OF ENERGY: a) Company ensures that the manufacturing operations are conducted in the manner whereby optimum utilization and maximum possible savings of energy is achieved. b) No specific investment has been made in reduction in energy consumption. c) As the impact of measures taken for conservation and optimum utilization of energy are not quantitative, its impact on cost cannot be stated accurately. d) e required data with regard to conservation of energy as applicable to our company is furnished below:
Particulars |
For the year ended 31.03.2025 | For the year ended 31.03.2024 |
1. ELECTRICITY |
||
| Purchased (units) | 307694 | 3,12,416 |
| Total Amount Rs | 2754243 | 26,78,665 |
| Rate/Units in Rs | 8.95 | 8.57 |
FUEL CONSUMED |
||
| Quantity- | ||
| LSHS (kg) | 65794 | 47970 |
| Diesel (Ltr) | 2400 | 3826 |
| Total amount- | ||
| LSHS(kg) | 3706257 | 2984402 |
| Diesel (Ltr) | 212206 | 3,45,049 |
| Rate per Ltr- | ||
| LSHS | 56.331 | 62.21 |
| Diesel | 88.42 | 90.19 |
B) TECHNOLOGY ABSORPTION:
Companys products are manufactured by using in-house know how and no outside technology is being used for manufacturing activities. erefore no technology absorption is required. e Company constantly strives for maintenance and improvement in quality of its products and entire Research & Development activities are directed to achieve the aforesaid goal.
C) FOREIGN EXCHANGE EARNINGS AND OUTGO:
During the period under review there was no foreign exchange earnings or out flow.
COMPLIANCE WITH SECRETARIAL STANDARDS
e Company has complied with Secretarial Standards on Meetings of the Board of Directors (SS-1) and General Meetings (SS-2) issued by the Institute of Company Secretaries of India.
EXTRACT OF ANNUAL RETURN
As provided under section 92 (3) of the Act, the extract of the Annual Return in form MGT- 9 is annexed herewith as "Annexure H" which forms part of this report.
As per the requirement of Section 92 of the Companies Act 2013, read with Rule 12 of the Companies (Management
& Administrative) Rule, 2014 . e Annual Return in the prescribed form is available on the Companies Site www. sandu.in
STATEMENT OF PARTICULARS OF APPOINTMENT AND REMUNERATION OF MANAGERIAL PERSONNEL
e information required under section 197 of the Act read with Rule 5 of e Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 in respect of employees of the Company and Directors is annexed as "Annexure – H" to this report.
FIXED DEPOSITS:-
Your Company has not accepted any deposits within the meaning of Section 73 of the Companies Act, 2013 and the Companies (Acceptance of Deposits) Rules 2014 during the financial year 2024-25.
PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS:-
e Company has not given any loans or guarantees covered under the provisions of section 186 of the Companies Act, 2013. e details of the Investments made by the Company are given in the notes to the financial statements.
PARTICULARS OF CONTRACT OR ARRANGMENTS WITH RELATED PARTY
e Company has Related Party Transaction with Sandu Brother Private Limited which is in ordinary course of Business and on Arm Length Basis.
DISCLOSURE ON ONE_TIME SETTLEMENT
During the year under review, the Company has not entered into any one-time settlement with the Banks or Financial Institutions who have extended loan or credit facilities to the Company.
CODE OF CONDUCT:
e Board of Directors has approved a Code of Conduct which is applicable to the Members of the Board and all employees in the course of day to day business operations of the company. e Code of Conduct for Directors https:// sandu.in/image/catalog/info-pages/Announcement/ policies/Code-of-Conduct-for-Directors.pdf and for Senior Management https://sandu.in/image/catalog/info-pages/ Announcement/policies/Code-of-Conduct-for-Senior-Management.pdf has been posted on companies Website. e Code lays down the standard procedure of business conduct which is expected to be followed by the Directors and the designated employees in their business dealings and in particular on matters relating to integrity in the work place, in business practices and in dealing with stakeholders. All the designated employees and personnel have confirmed compliance with the Code. e Declaration signed by the Managing Director pursuant to Regulation 26(3) read with Schedule V (Part D) of the SEBI (LODR) Regulation 2015 is published in this report.
PREVENTION OF INSIDER TRADING:
e Company has adopted a Code of Conduct for Prohibition of Insider Trading with a view to regulate trading in securities by the Directors and Designated employees of the Company. e Code requires pre-clearance for dealing in the Companys shares and prohibits the purchase or sale of Company shares by the Directors and the designated employees while in possession of unpublished price sensitive information in relation to the Company and during the period when the Trading Window is closed. e Board is responsible for implementation of the Code.
All Board of Directors and the designated employees have confirmed compliance with the Code. Code of Conduct for Prohibition of Insider Trading is available on website of the Company under the web link https://sandu.in/wp-content/ uploads/2024/12/Code-of-Conduct-for-Insider-Trading-with-Forms-revised_.pdf
PARTICULARS OF EMPLOYEES:
e information required pursuant to Section 197 read with rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 in respect of employees of the Company, will be provided upon request. In terms of Section 136 of the Act, the reports and accounts are being sent to the members and others entitled thereto, excluding the information on employees particulars which is available for inspection by the members at the Registered office of the company during business hours on working days of the company up to the date of ensuing Annual General Meeting. If any member is interested in inspecting the same, such member may write to the company secretary in advance.
AUDITORS REPORT AND SECRETARIAL AUDIT REPORT
e Secretarial Auditors report contains a qualification regarding delay in submission of financial resultsto the Stock Exchange by the Company within the period prescribed under Regulation 33 of SEBI LODR,Read with SEBI Circular no.SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated july 11,2023 (chapter –VII(A)-Penal Action for non-compliance for non submission of financials. e Statutory Audit Report doesnt contain any qualification, reservation and adverse remark.
REPLY OF MANAGMENT ON QULAIFICATION IN THE SECRETARIAL AUDIT REPORT
CFO Shri Vijay Kajrekar assumed his officer on 30th March 2024.Despite best efforts put in by the Accounts Team, the annual Accounts could not be finalized and approved in the Board meeting held on 30th May 2024. e delay was not mala_de and company has made good default by making payment of _ne imposed by the Stock Exchange.
DETAILS IN RESPECT OF FRAUDS REPORTED BY AUDITORS UNDER SECTION 143(12)
Pursuant to Section 143(12) of the Act and circular issued by National Financial Reporting Authority on Statutory Auditors Responsibilities in relation to fraud in a company dated June 26, 2023, there were No instances of fraud committed during FY 2024-25, by the employees of the Company.
ACKNOWLEDGEMENTS:
Your Company and its Directors wish to extend their sincerest thanks to the Members of the Company, Bankers, State Government, Local Bodies, Customers, Suppliers, Executives, Staff and workers at all levels for their continuous cooperation and assistance.
For and on behalf of Board of Directors |
|
of Sandu Pharmaceuticals Limited |
|
Sd/- |
Sd/- |
Umesh B Sandu |
Shashank B Sandu |
DIN:01132141 |
DIN:00678098 |
Managing Director |
Director |
| Dated: 13/08/2025 | |
| Place: Mumbai | |
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