TO
THE MEMBERS SC AGROTECH LIMITED
Your directors have Pleasure in presenting the 33rd Annual Report together
with audited statement of accounts for the year ended 31st March, 2023.
| Financial Performance: - |
|
(Amount in Rs.) |
| Particulars |
As on 31.03.2023 |
As on 31.03.2022 |
| Income |
|
|
| Revenue from operations (gross) |
886830 |
2717250 |
| Other Income |
29862483 |
4508217 |
| Total Income |
30749313 |
7225467 |
| Expenses |
|
|
| Purchase(COGS) |
1282270 |
1420000 |
| Employee benefits expense |
3263403 |
2986986 |
| Depreciation and amortization expenses |
141068 |
141068 |
| Other expenses |
6223256 |
2559823 |
| Total Expenses |
10909996 |
7107876 |
| Profit (loss) before exceptional and extraordinary items and tax |
19839317 |
117590 |
| Less: Exceptional Items & Current Tax |
|
|
| 1 Prior Period Tax Credit |
|
|
| 2. Current year tax Exp |
|
|
| Less:-MAT credit entitlement |
|
|
| EARLIER YEARS |
|
13822 |
| DEFFERED TAX |
(18721) |
(17163) |
| Profit/ (loss) after Tax and exceptional Items |
19858038 |
120931 |
FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL PERFORMANCE
During the year the company has earned a profit of Rs. 198.58 lakh as compared to
previous year of profit Rs 1.20 lakh during the period under review.
INDIAN ACCOUNTING STANDARDS (Ind AS)
The Financial Results for the year 2022-23 have been prepared in accordance with Ind
AS, prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules
issued there under and the other recognized accounting practices and policies to the
extent applicable. The Financial Results for all the periods of2022-23 presented have been
prepared in accordance with Ind AS.
Public Deposits
During the year under review, your Company has neither invited nor accepted any
deposits from the public falling within the ambit of Section 73 of the Act and the
Companies (Acceptance of Deposits) Rules, 2014.
DIVIDEND
In view of the past track of the financial position of the company not to earn much
more profits and its occurred loss since last several year companies is not in the
position is to distribute Dividend to its shareholders.
TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR ED UCA TION AND PROTECTION FUND
Since no dividend was declared in the last year, the provisions of Section 125 of the
Companies Act, 2013 does not apply.
Share Capital:
There is no change in the Authorised Share Capital and paid up Share Capital of the
Company during the Financial year.
PROCEEDING UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016
There are no proceedings initiated by the Company or against the Company.
ONE TIME SETTLEMENTS
The Company has not undergone any OTS (One Time Settlement).
INVESTOR SERVICES
The Company is committed to provide the best services to the shareholder/investors. M/s
Skyline Financial Services Private Limited, New Delhi is working as Registrars and Share
Transfer Agents (RTA) of the Company for transfer, dematerialization of shares and other
investor related services. No correspondence/ enquiry from any shareholder/investor is
pending with the company for reply.
DIRECTORS AND KMP:
| Name of Director |
Designation |
| Sh. Vijay Shankar Thakur |
Whole time Director /Executive Director |
| Sh. Netra Pal |
Non executive Independent Director |
| Sh. SharadRatan |
Non Executive Indpendent Director |
| Smt. Hemlata Rajora |
Woman director |
| Sh. Amit Sehgal |
Chief Financial officer |
| Sh Amit kumar |
Company Secretary |
> DIRECTORS RESPONSIBILITY STATEMENT:
The Directors responsibility statement pursuant to section 134 (5) of the Companies
Act, 2013 is annexed there to
Directors have pleasure to State:
i) That in the preparation of the annual accounts for the financial year ended 31st
March 2023 the applicable accounting standards has been followed along with proper
explanations if any relating to material departures.
ii) That the Directors have selected such accounting policies and applied them
consistently and made judgments and estimates that are reasonable and prudent, so as to
give a true and fair view of the statement of affairs of the Company at the end of the
financial year and the Profit/ Loss of the Company for the year under review.
iii) That the Directors have 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.
iv) That the Directors have prepared the annual accounts ongoing concern basis.
v) That the Directors, have laid down the Internal Financial control to be followed by
the Company and that such internal Financial Controls are adequate and were operating
effectively.
vi) That the Director have devised proper system to ensure compliance with the
provision of all applicable law that such system was adequate and operating effectively.
DECLARATION FROM INDEPENDENT DIRECTOR
The Company has received declarations from all the Independent Directors of the Company
confirming that they meet the criteria of independence as prescribed both under
sub-section (6) of Section 149 of the Companies Act, 2013 and SEBI (LODR) Regulations,
2015.
SECRETARIAL A UDIT REPORT
Pursuant to the provisions of section 204 of the Companies Act, 2013 and the Companies
(Appointment and remuneration of managerial persons) rules, 2014, the Company has
appointed M/s Gulista & Associates Company Secretaries, CS Gulista (M.No. 49402, COP
No. 24089) to undertake the Secretarial Audit of the Company for the financial period
2022-23
The Secretarial Audit report for the financial period ended 31st march, 2023
is attached as Annexure- A of this Boards report. The Secretarial Audit report does not
contain any qualification, reservation or adverse remark.
CORPORATE SOCIAL RESPONSIBILITY:
The Company is not required to constitute a Corporate Social Responsibility Committee
as it does not fall within the purview of Section 135(1) of the Companies Act 2013 and
hence it is not required to formulate policy on Corporate Social responsibility.
RISK MANA GEMENT POLICY:
The Company has in place a dynamic Risk management framework for a systematic approach
to control risks as the framework identifies, evaluates business risks and opportunities
and seeks to create transparency and minimize adverse impact on the business The risk
management process is appropriately handled by functional heads. As on Date, the Company
envisages risks which could threaten the existence of the company.
FIXED DEPOSITS:
During the year under review, neither any fixed deposit has been invited nor any fixed
deposit have been renewed by the Company under the provisions of section 73 of the
Companies Act, 2013, read with Companies (Acceptance of Deposits) Rules, 1975 from the
public.
CONSER VATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUT GO.
Statement pursuant of Section 134 (3) (m) of the Company Act, 2013 are annexed hereto
and forming part of the report.
RELATED PARTIES TRANSACTIONS
Company during the financial year with related parties were in the ordinary course of
business and on an arms length basis. During the year, the Company had not entered into
any contract/arrangement/transaction with related parties which could be considered
material in accordance with the provisions of Regulation 23 of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015. Accordingly, the disclosure of
Related Party Transactions as required under Section 134(3)(h) of the Companies Act, 2013
in Form AOC2 is not applicable. The Policy on dealing with related party transactions as
approved by the Board may be accessed on the Companys website at the link: www.
scasrotech.in
PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS
Details of Loans, Guarantees, Securities and Investments covered under the provisions
of Section 186 of the Act are given in the Notes to the Financial Statements.
CORPORATE GOVERNANCE AND COMPLIANCE CERTIFICATE:
The Company has taken adequate steps to adhere to all the stipulations laid down under
Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015. A report on Corporate Governance included as a part of this Annual
Report is given in Annexure-B
MATERIAL CHANGES AND COMMITMENTS AFTER THE END OF FINANCIAL YEAR
There are no material changes and commitments noticed by the Board between the end of
Financial year of the Company i.e. March 31, 2023 and the date of this report.
VIGIL MECHANISM/ WHISTLE BLOWER POLICY
Pursuant to the provisions of Section 177 of the Companies Act, 2013 and Regulation 22
of SEBI (LODR) Regulations, 2015, the Company has adopted a Vigil Mechanism / Whistle
Blower Policy to provide a platform to the Directors and employees of the Company to raise
concerns regarding any irregularity, misconduct or unethical matters / dealings within the
Company. The same is detailed in the Corporate Governance Report which forms part of this
report. The Company has a vigil mechanism named Fraud and Risk Management Policy to deal
with instance of fraud and mismanagement, if any, in staying true to our values of
Strength, Performance and Passion and in line with our vision of being one of the most
respected companies in India, the Company is committed to ensure the high standards of
Corporate Governance and stakeholder responsibility.
LISTING
The Equity Shares of the Company are listed on the Bombay Stock Exchange Limited (BSE)
having nation-wide trading terminals. Annual listing fee for the Financial Year 2022-23
has been paid to BSE Limited.
STATUTORY A UDITORS:
The Auditors Report does not contain any qualifications, reservations or adverse
remarks.
EXTRACT OF ANNUAL RETURN:
Pursuant to Section 92(3) read with Section 134(3)(a) of the Act, the Annual Return as
on March 31, 2023 is available on the Companys website on www.scagrotech.in.
GENERAL DISCLOSURE
Your Directors state that no disclosure or reporting is required in respect of the
following items as there were no transactions on these items during the year under review.
• Details relating to Deposits covered under Chapter V of the Act.
• Issue of Equity Shares with Differential Rights, as to dividend, voting or
otherwise.
• Issue of shares with including sweat equity shares to employees of the company
under any scheme.
• No significant or material order was passed by the Regulators or Courts or
Tribunals which impact the going concern status and companys operation in the future.
• The Company has Complied with the provisions relating to the constitution of
Internal Complaints
Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition
andRedressal) Act, 2013
• During the year under review, there were no case(s) filed pursuant to Sexual
Harassment of Women at workplace (Prevention, Prohibition & Redressal) Act, 2013.
ACKNOWLEDGEMENT:
Your Directors wish to express their grateful appreciation for the valuable support and
cooperation received from sub-brokers, business associates, vendors, bankers, financial
institutions, investors, stakeholders, registrar and share transfer agent, other business
affiliates and media.
The Board places on record its sincere appreciation towards the Companys valued
customers for the support and confidence reposed by them in the organization and the
stakeholders for their continued co-operation and support to the company and look forward
to the continuance of this supportive relationship in future.
Your Directors also places on record their deep sense of appreciation for the devoted
services of the employees during the period under review.
|
FOR AND ON BEHALF OF THE BOARD |
|
For SC AGROTECH LIMITED |
| Place: New Delhi |
sd/- |
| Date: 30.08.2023 |
Vijay Shankar Thakur |
|
Executive/Whole Time Director |
+91-9892691696
