Close
x
  • SMC open account icon Open an A/C
    • Open an A/C
    • CHOOSE YOUR OPTION(S)
    • Trading A/c
    • Mutual Fund A/c
    • NBFC A/c
    • NPS A/c
  • SENSEX Oct 30 2020 12:00
    39,614.07 -135.78 (-0.34%)
  • NIFTY Oct 30 2020 12:00
    11,642.40 -28.40 (-0.24%)
  • SENSEX Oct 30 2020 12:00
    39,614.07 -135.78 (-0.34%)
  • NIFTY Oct 30 2020 12:00
    11,642.40 -28.40 (-0.24%)
  • Nasdaq Oct 31 2020 04:30
    10,911.59 -274.00 (-2.45%)
  • DJIA Oct 31 2020 04:30
    26,501.60 -157.50 (-0.59%)
  • S&P 500 Oct 31 2020 04:30
    3,269.96 -40.15 (-1.21%)
  • Hang Seng Oct 30 2020 02:10
    24,107.42 -479.18 (-1.95%)
  • Crude Oil Oct 30 2020 11:29
    2,639.00 -59.00 (-2.19%)
  • Gold Oct 30 2020 11:29
    50,700.00 +418.00 ( +0.83%)
  • Silver Oct 30 2020 11:29
    60,920.00 +748.00 ( +1.24%)
  • Copper Oct 30 2020 11:29
    525.80 -2.90 (-0.55%)
  • Pound / Rupee Dec 23 2016 22:30
    96.11 +0.10 ( +0.10%)
  • Dollar / Rupee Dec 23 2016 22:30
    74.16 +0.30 ( +0.41%)
  • Euro / Rupee Dec 23 2016 22:30
    86.82 0.00 (0.00%)
  • Yen / Rupee Dec 23 2016 22:30
    0.71 0.00 ( +0.27%)

Huhtamaki PPL Ltd

BSE Code : 509820 | NSE Symbol : PAPERPROD | ISIN:INE275B01026| SECTOR : Packaging |

NSE BSE
 
SMC up arrow

275.15

5.30 (1.96%) Volume 280564

30-Oct-2020 EOD

Prev. Close

269.85

Open Price

271.20

Bid Price (QTY)

275.15(330)

Offer Price (QTY)

0.00(0)

 

Today’s High/Low 284.80 - 270.00

52 wk High/Low 337.60 - 161.90

Key Stats

MARKET CAP (RS CR) 2075.34
P/E 13.04
BOOK VALUE (RS) 96.4321685
DIV (%) 250
MARKET LOT 1
EPS (TTM) 21.07
PRICE/BOOK 2.84967147658823
DIV YIELD.(%) 1.82
FACE VALUE (RS) 2
DELIVERABLES (%) 69.54
4

News & Announcements

24-Oct-2020

Huhtamaki PPL Q2 net profit jumps 16% to Rs 36.88 cr

23-Oct-2020

Huhtamaki PPL Ltd - Un-Audited Financial Results Of The Company For The Quarter Ended 30Th September, 2020.

16-Oct-2020

Huhtamaki PPL Ltd - Certificate Under Regulation 40 (9) Of SEBI (Listing Obligation And Disclosure Requirements) Regulation, 2015

16-Oct-2020

Huhtamaki PPL Ltd - Certificate Under Regulation 40 (9) Of SEBI (Listing Obligation And Disclosure Requirements) Regulation, 2015

13-Oct-2020

Huhtamaki PPL to conduct board meeting

04-Aug-2020

Huhtamaki PPL schedules board meeting

18-May-2020

Huhtamaki PPL schedules AGM

08-May-2020

Huhtamaki PPL schedules board meeting

Corporate Actions

Bonus
Splits
Dividends
Rights
Capital Structure
Book Closure
Board Meeting
AGM
EGM
 

Financials

Income Statement

Standalone
Consolidated
 

Peers Comparsion

Select Company Name BSE Code NSE Symbol
A and M Jumbo Bags Ltd 535046 AMJUMBO
Aditya Polymers Ltd 514338
Ador Technopak Ltd(merged) 516076
Akar Laminators Ltd 500005 AKARLAMIN
Akar Polymatik Ltd (Merged) 516056
AMD Industries Ltd 532828 AMDIND
Anuroop Packaging Ltd 542865
ARM Polymers Ltd 514396
Arun Mantex Ltd 514340
Ashok Polymers Ltd 40470
Asian Closures Ltd 513279
Asian Consolidated Industries Ltd 500022 ASIANCONSO
Avon Industries Ltd 523531 AVONIND
B & A Packaging India Ltd 523186
Balmer Lawrie Freight Containers Ltd 500037
Balmer Lawrie Vanleer Ltd 505864
Baroda Polyplast Ltd 514346
Biax Ltd (Merged) 523393 BIAX
Bilcare Ltd 526853
BKM Industries Ltd 539043 BKMINDST
Canbay Polyfilms Ltd (Wound-up) 526658
CDG Petchem Ltd 534796
Commercial Syn Bags Ltd 539986
Consolidated Containers (India) Ltd 526147
Control Print Ltd 522295 CONTROLPR
Cosmo Films Ltd 508814 COSMOFILMS
Duck Tarpaulins Ltd 512620
Duropack Ltd 526355
Eastern Synpacks Ltd 40201
Ecoplast Ltd 526703
Emmbi Industries Ltd 533161 EMMBI
EPL Ltd 500135 EPL
Ester Industries Ltd 500136 ESTER
Everest Kanto Cylinder Ltd 532684 EKC
Expo Gas Containers Ltd 526614
FCL Technologies & Products Ltd(merged) 524600 FLEXCHEM
Flexituff Ventures International Ltd 533638 FLEXITUFF
G. Claridge & Co Ltd 509545
Galore Prints Industries Ltd 526679
Garware Polyester Ltd 500655 GARWARPOLY
Gilt Pack Ltd 507711
Glory Films Ltd 532857 GLORY
Gold Earth Bio-tech Limited 530767
Gopala Polyplast Ltd 526717
Greenfield Corp Ltd 531912
Gujarat Containers Ltd 513507
Gujarat Polyweave Ltd (Wound Up) 507764
Gujarat Propack Ltd (Merged) 507790
Gujarat Raffia Industries Ltd 523836 GUJRAFFIA
Gulabdas Flexipack Industries Ltd 530685
Harsh Polymers(India) Ltd 514370
Him Containers Ltd 523535
Hindustan Adhesives Ltd 514428
Hindustan Tin Works Ltd 530315 HINDTINWRK
Hitech Corporation Ltd 526217 HITECHCORP
Hitkari Industries Ltd 530633
Hoysala Blow Moulders (India) Ltd 507906
India Containers Ltd 40218
Inditalia Refcon Ltd 517526
Jalpac India Ltd 523230
JCL Ltd 530335
Jhaveri Flexo India Ltd 507796
Jindal Poly Films Ltd 500227 JINDALPOLY
JMDE Packaging & Realties Ltd 524378
Jumbo Bag Ltd 516078 JUMBO
Kailash Structurals Ltd 40210
Kaira Can Company Ltd 504840
Kanpur Plastipack Ltd 507779
Kanpur Plastipack Ltd Partly Paid Up 890143
Karan Industries Ltd 514390
Karnavati Alfa International Ltd 526451
Karur KCP Packkagings Ltd 531363 KARURKCP
KLJ Plastics Ltd 526257
Kuwer Industries Ltd 530421
Leela Packaging Ltd 523884
Magnum Polymers (India) Ltd 40182
Mahip Industries Ltd 542503
Maniyar Plast Ltd 526321
Manjushree Technopack Ltd 532950 MANJUSHREE
Maruti Plastics Ltd 519341
Marvel Industries Ltd 532073
Metal Box India Ltd 504838
Mewar Polytex Ltd 531236
Midland Plastics Ltd 523698
Midland Polymers Ltd 531597
MLG Industries Ltd 513619
Morgan Industries Ltd 523564
MTZ Polyfilms Ltd 512424
Nahar Polyfilms Ltd 523391 NAHARPOLY
Natco Polyplast Ltd 526743
Neo Corp International Ltd 523820 NEOCORP
New Plastomers India Ltd 526777
Numech Emballage Ltd 507884
Oberoi Plastics Ltd (Wound-up) 526803
Ocean Agro (India) Ltd 519491
Orient Press Ltd 526325 ORIENTLTD
Packtech Industries Ltd 523702
Panjwani Packaging Ltd 523584
Pankaj Polymers Ltd 531280
Paramount Printpackaging Ltd 533399 PARAPRINT
PCI Papers Ltd 40460
Perfectpac Ltd 526435
Pithampur Poly Products Ltd 530683
Planters Polysack Ltd 523105
Point Plast Ltd 526053
Polyplex Corporation Ltd 524051 POLYPLEX
Polyspin Exports Ltd 539354
Poysha Industrial Company Ltd 504887
Pressure Sensitive Systems (India) Ltd 526773
Prestige HM-Polycontainers Ltd 507707
Prudential Polywebs Ltd 526023
Purity Flex Pack Ltd 523315
Pushpa Packages Ltd 40254
Quantum Digital Vision India Ltd 530281
Radiant Rotogravure Ltd 531526
Raj Packaging Industries Ltd 530111
Rajshree Polypack Ltd 535109 RPPL
Ras Extrusions Ltd (Merged) 523780
Ras Propack Lamipack Ltd (Merged) 500361 RASLAMIPAK
Rasik Plast Ltd 526552
Rathi Graphic Technologies Ltd 524610
Rishi Techtex Ltd 523021 RISHIPACK
Rollatainers Ltd 502448 ROLLT
Rotoflex Industries Ltd 526903
Safepack Polymers Ltd (Wound-up) 523090
Salguti Industries Ltd 526554
Shaan Interwell (India) Ltd 514458 SHAANINTER
Sharp Industries Ltd 523359
Shatranjay Extrusions Ltd 513476
Shetron Ltd 526137 SHETRON
Shree Rama Multi-Tech Ltd 532310 SHREERAMA
Shree Tirupati Balajee FIBC Ltd 535013 TIRUPATI
Shri Jagdamba Polymers Ltd 512453
Siltap Chemicals Ltd (Merged) 507777 SILTAPCHEM
Sonal Adhesives Ltd 526901
Stanpacks (India) Ltd 530931
Suniti Commercials Ltd 512357
Suprapti Plastics Ltd 530539
Supreme Oriented Films Ltd (Merged) 523273
Sushil Packaging (India) Ltd 516094
TCPL Packaging Ltd 523301 TCPLPACK
Texel Industries Ltd 526638
Texplast Industries Ltd 530635
TPI India Ltd 500421 TPINDIA
TPL Plastech Ltd 526582 TPLPLASTEH
Trans Asia Packaging Ltd (Merged) 523402
Trans Freight Containers Ltd 513063 TRANSFREIT
Uflex Ltd 500148 UFLEX
Ushma Polymers Ltd 514372
Uvifort Metallizers Ltd (Merged) 523481
Vallabha Poly-Plast International Ltd 530403
Varun Seacon Ltd (Wound Up) 526297 VARUNSEA
Venlon Enterprises Ltd 524038 VENLONPOLY
Victory Laminations Ltd 40202
Virgo Polymers (India) Ltd 531282
Volplast Ltd 531922
Waaree Technologies Ltd 539337
Wilwayfort India Ltd 530293
Wopolin Plastics Ltd 509419 WOPOLIN
Yashraj Containeurs Ltd 530063

Share Holding

Category No. of shares Percentage
Total Foreign 2786178 3.69
Total Institutions 976032 1.29
Total Govt Holding 0 0.00
Total Non Promoter Corporate Holding 0 0.00
Total Promoters 50553997 66.94
Total Public & others 21205727 28.08
Total 75521934 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About Huhtamaki PPL Ltd

Paper Products Ltd, a member of Huhtamaki Packaging Worldwide is a leading manufacture of flexible packaging materials in India. The company founded by Sardari Lal Talwar was originally started as a partnership concern at Lahore(now in Pakistan) in 1935 and was shifted to Delhi in 1947. Later in 1950 it went public. PPL became a 51% subsidiary of Huhtamaki Van Leer, a European Pakaging major, when the later acquired 51% stake in PPL through an preferential allotment of equity shares in 1999. During 1999 Huhtamaki Van Leer the packaging group with worldwide operation and having leadership positions in consumer and industrial pacakaging became the 51% shareholder of the company through preferential allotment of equity shares. The company is taking all efforts to become a debt-free in the near future. PPL which commands a 65% market share in the high end flexible packaging in India and its clientle includes some of the heavyweights of Indian FMCG players like HLL, Colgate, Nestle etc. Some of its overseas clients include subsidiaries of Unilever in Srilanka and Bangladesh. Eventhough PPL doesnot face any immediate threat from competition, the demand growth is inextricably linked to the demand growth in the FMCG and the food segment. The company has technology-transfer agreements with Dennison Manufacturing Company, US, for heat transfer of labels on plastic containers and with Fuji Seal Company, Japan, for shrink sleeve technology for labelling. PPL raised Rs.10.29 crores through an rights issue of 14% PCDs(FV of Rs.100) in the year 1995 to part finance its Rs.28 Crore Plant for packaging material at Silvasa, Maharashtra. PPL is increasing the production capacity of its Silvassa plant at a capex of Rs.18.5 crores. The commercial production of the expansion project is expected in March 2003. It has also redeemed its entire preference capital in the current year. PPL has divested its entire stake in PPL Feedback Packaging Ltd (PFL) to Brown Paper Technologies Ltd on Jan 29, 2002 and hence PFL ceases to be a subsidiary of PPL. The company was awarded the Worldstar For Packaging 1994 by the World Packaging Organisation. In 1994, it also won the Kelkar Memorial Award for Technical Research, instituted by SICOM.

Huhtamaki PPL Ltd Chairman Speech

We remain intensely passionate about packaging; thriving on innovation and sustainability

Dear Stakeholders,

In our industry, a combination of enabling government legislation and heightened consumer awareness presents an opportunity for industry players to address environmental concerns by improving the post-consumer-use flexible packaging waste management eco-system. In addition, at a national level, the terrific societal awareness brought about by “Swachh Bharat” will add impetus to and help establish a collection, segregation, recycling and/or reprocessing eco-system of requisite scale and scope.

As a responsible flexible packaging industry leader, we have begun to engage on shaping a circular economy for flexible packaging. Currently, the post-consumer-use flexible packaging waste eco-system is inhabited by several types of players such as ragpickers, specialised waste collectors, small-scale recyclers and in urban areas, the local municipality. Over time, this eco-system will undergo a transformation in scale and scope. Our early steps include enrolment in the Extended Producer Responsibility process as part of a larger effort to co-develop innovative and scalable business models for managing post-consumer-use flexible packaging waste.

We are also beginning to communicate to stakeholders that flexible packaging offers many advantages particularly in a country as large and diverse as ours where food and other essential goods travel significant distances. From amongst comparable packaging options, apart from the more conventionally known advantages of protection and convenience, flexible packaging offers one of the lowest life-cycle CO2 footprints and helps reduce food wastage.

I want to thank everyone in HPPL for their contribution. Collectively, our accomplishments in 2018 represent an important stepping stone in our journey of responsible, profitable growth in a business landscape that is evolving continuously. We increased sales to our current set of customers and added quite a few new customers. Our Net Sales at 23,691 MINR grew by 11% over 2017 marking a generally positive business environment. However, our EBIT at 1,527 MINR grew 4.1% over 2017; impacted by frequent increases in prices of key input materials during the first three quarters of 2018.

Our approach to innovation continues to reflect the essentially bespoke nature of our business wherein packaging is custom designed to meet needs of distinct customers. However, we are increasingly laying greater emphasis on creation of intellectual capital in the form of patents. In addition, a focused development programme to bake-in recyclability and sustainability in the packaging structure itself, is yielding the first set of products - multi-layer yet made with variants of the same polyolefin family for ease of recycling. These are designed to help our esteemed customers achieve their respective sustainability ambitions.

Our investment in a state-of-the-art wide-web digital printer gives us a versatile platform on which we can combine agility, customisation and innovation in unique ways. Our efforts at innovation were recognised externally: Dow Packaging Innovation, WorldStar, Economic Times Excellence Polymer, SIES SOP Star Awards and IFCA Star Awards came our way.

In keeping with our focus on collaboration and continuous improvement, we initiated a fresh set of projects to improve agility, customer responsiveness and strengthen our product portfolio of sustainable solutions. We carried out a very rapid integration of Ajanta Packaging that we acquired during the year. This helped us realise growth synergies early and represents a capability that will stand us in good stead in the future as and when we pursue inorganic growth options.

We applied relevant heuristics to key internal processes especially in the HR and the Sales and Operations Planning functions. As part of our HR Roadmap, we implemented a world-class Human Resources Information System; this will increase the efficiency and effectiveness of key processes such as talent management, job levelling, capability building and continuous learning.

Going forward we will grow while focusing on our philosophy of continuous improvement - developing people, operations and business competencies, as part of our ambition to make HPPL a world-class company that helps great products reach more people more easily. We are grateful for the support and recognition our employees, customers, suppliers, shareholders and other stakeholders gave us during 2018.

   

Huhtamaki PPL Ltd Company History

Paper Products Ltd, a member of Huhtamaki Packaging Worldwide is a leading manufacture of flexible packaging materials in India. The company founded by Sardari Lal Talwar was originally started as a partnership concern at Lahore(now in Pakistan) in 1935 and was shifted to Delhi in 1947. Later in 1950 it went public. PPL became a 51% subsidiary of Huhtamaki Van Leer, a European Pakaging major, when the later acquired 51% stake in PPL through an preferential allotment of equity shares in 1999. During 1999 Huhtamaki Van Leer the packaging group with worldwide operation and having leadership positions in consumer and industrial pacakaging became the 51% shareholder of the company through preferential allotment of equity shares. The company is taking all efforts to become a debt-free in the near future. PPL which commands a 65% market share in the high end flexible packaging in India and its clientle includes some of the heavyweights of Indian FMCG players like HLL, Colgate, Nestle etc. Some of its overseas clients include subsidiaries of Unilever in Srilanka and Bangladesh. Eventhough PPL doesnot face any immediate threat from competition, the demand growth is inextricably linked to the demand growth in the FMCG and the food segment. The company has technology-transfer agreements with Dennison Manufacturing Company, US, for heat transfer of labels on plastic containers and with Fuji Seal Company, Japan, for shrink sleeve technology for labelling. PPL raised Rs.10.29 crores through an rights issue of 14% PCDs(FV of Rs.100) in the year 1995 to part finance its Rs.28 Crore Plant for packaging material at Silvasa, Maharashtra. PPL is increasing the production capacity of its Silvassa plant at a capex of Rs.18.5 crores. The commercial production of the expansion project is expected in March 2003. It has also redeemed its entire preference capital in the current year. PPL has divested its entire stake in PPL Feedback Packaging Ltd (PFL) to Brown Paper Technologies Ltd on Jan 29, 2002 and hence PFL ceases to be a subsidiary of PPL. The company was awarded the Worldstar For Packaging 1994 by the World Packaging Organisation. In 1994, it also won the Kelkar Memorial Award for Technical Research, instituted by SICOM.

Huhtamaki PPL Ltd Directors Reports

Your Directors have pleasure in presenting the 70th Annual Report along with the Audited Statements of Accounts for the year ended December 31, 2019.

Financial highlights:

Your Company's financial performance during the year was as under :

(Rs. in Lakhs)

Particulars 2019 2018
Net Sales 2,54,767 2,33,211
Profit before Tax & Exceptional Item 20,158 11,357
Profit before Tax 20,158 11,357
Less: Provision for Current Tax 3,253 7,916
Provision for Deferred Tax (99) (47)
Profit after Tax 17,004 3,488
Add: Balance of profit for earlier years 37,897 39,065
Profit available for appropriation 54,901 42,553
Transfer to General Reserve - -
Transfer to Debenture Redemption Reserve Nil 1,925
Dividend on Equity Shares & Dividend Tax thereon 2,731 2,731
Balance Carried forward 52,170 37,897

Dividend:

Your Directors are pleased to recommend a dividend of Rs. 5/- (Rupees Five only)$ per equity share (250%)$ having face value of Rs. 2/- each, for the year ended December 31, 2019. The said dividend will absorb an amount of 'Rs.3,777 lakhs.

The Dividend Distribution Policy of the Company is annexed to this Report as Annexure 1 and is also available on Company's website at https://www.huhtamaki.com/en-in/ flexible-packaging/investors/corporate-governance-and- policies/policies/

Fixed Deposits:

The Company did not invite or accept deposits covered under Chapter V of the Companies Act, 2013 and there are no deposits outstanding with the Company.

Transfer to Reserves:

The Debenture Redemption Reserve amounting to Rs. 7,700 lakhs has been transferred to General Reserve, pursuant to redemption of Non-Convertible Debentures of the Company on December 20, 2019.

Acquisition:

The Company acquired the business of Mohan Mutha Polytech Private Limited on 10 January, 2020, by way of a slump sale, for an enterprise value of Rs. 7,411 lakhs, on a cash free, debt free basis. By this acquisition, the Company will be better positioned to cater to customer demand, especially in Southern India.

Redemption of Non-Convertible Debentures (NCDs)

The Company has pursuant to exercise of call option, redeemed 7% - 3,850 Non-Convertible Debentures aggregating to Rs. 38,500 lakhs along with the interest thereon amounting to Rs. 1,095.92 lakhs (amount net of tax) on December 20, 2019.

Subsidiary Companies and Financial Statements:

Your Company does not have any subsidiaries and hence Form AOC-1 is not applicable.

In accordance with the provisions of Section 136 of the Companies Act, 2013, the audited financial statements, and related information of the Company are available on the website of the Company - www.huhtamaki.com. These documents will be made available to the Members for inspection at the Registered Office of the Company on all working days between 10.00 a.m. to 12.00 noon upto the date of 70th Annual General Meetings.

Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo:

Information pursuant to the provisions of Section 134 of the Companies Act, 2013 and the rules framed thereunder, relating to conservation of energy, technology absorption, foreign exchange earnings and outgo, forms part of this Report and is given at Annexure 2.

Corporate Governance Report:

The Report on Corporate Governance and the Certificate of the Auditors of the Company regarding compliance of the conditions of Corporate Governance as stipulated in Part C of Schedule V of the Listing Regulations, 2015, are enclosed as a separate section and forms part of this Report. A declaration signed by the Executive Director/CEO in regard to compliance with the Code of Conduct by the members of the Board and Senior Management Personnel also forms part of this Report.

Management Discussion and Analysis:

A detailed review of the operations, performance and future outlook of the Company and its businesses are given in the Management Discussion and Analysis, and forms a part of this Report.

Directors & Key Managerial Personnel:

Changes in Directorate and Key Managerial Personnel*:

Mr. Murali Sivaraman was appointed as Non-executive Independent Chairman of the Company for a period of 5 years, w.e.f. January 1, 2019.

Mr. Ranjeev Lodha, was appointed as Chief Financial Officer of the Company w.e.f May 7, 2019. Further, he was appointed as an Additional Director of the Company w.e.f August 8, 2019 and re-designated as Executive Director & Chief Financial Officer of the Company. Further, his appointment as Whole-time Director w.e.f. August 8, 2019 is for a period of 5 years, subject to approval of shareholders at the ensuing General Meeting.

Ms. Seema Modi has been appointed as an Additional Independent Director of the Company w.e.f. January 1, 2020 for a period of five years, subject to approval of shareholders at the ensuing General Meeting.

Dr. Arup Basu was elevated as “President - Flexible Business and Member of Global Executive Team” of Huhtamaki Oyj, effective, February 1, 2020. Accordingly, Dr. Arup Basu ceased to be the Managing Director effective, January 31, 2020 and occupied the position as Executive Director, effective February 1, 2020.

Mr. Ashok Kumar Barat has been appointed as an Additional Independent Director of the Company w.e.f April 1, 2020 for a period of five years, subject to approval of shareholders at the ensuing General Meeting.

Mr. Arunkumar Gandhi, Independent Director of the Company stepped down from the Board w.e.f March 31, 2019 since he had surpassed the age of 75 years. Mr. S. K. Palekar and Mr. Nripjit Singh Chawla, Independent Directors of the Company resigned w.e.f May 9, 2019 due to personal reasons. Mr. Jukka Moisio, Non-executive Director of the Company stepped down from the Board w.e.f March 26, 2019, consequent to his decision to step down as CEO of Huhtamaki Group.

Mr. Olli Koponen, Non-executive Director of the Company, stepped down from the position of President - Flexible Packaging, Huhtamaki Oyj, w.e.f. January 31, 2020, consequent to his appointment as Senior VP - Total Productive Manufacturing (TPM) at Huhtamaki Oyj. Accordingly, he stepped down from the Board of the Company as a Nonexecutive director of the Company w.e.f. January 31, 2020.

The Board wishes to place on record its sincere appreciation for the contribution & guidance given to the Board, by Directors who ceased to be the Director of the Company, during the year.

In accordance with the provisions of Section 152 of the Companies Act, 2013, Mr. Sami Pauni retires by rotation and being eligible, offers himself for re-appointment in the ensuing 70th Annual General Meeting.

The details of the proposed appointment/re-appointment of Directors are mentioned in the Explanatory Statement under Section 102 of the Companies Act, 2013 of the Notice of the 70th Annual General Meeting (AGM) of your Company.

Declaration by Independent Directors:

The Company has received necessary declarations from all the Independent Directors of the Company confirming that they meet the criteria of independence laid down in Section 149(6) of the Companies Act, 2013 and Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations, 2015) and the same has been noted by the Board of Directors.

Evaluation of Performance of Board, its Committees and of Directors:

Pursuant to the provisions of the Companies Act, 2013 and Listing Regulations, 2015 the Board of Directors has undertaken an annual evaluation of its own performance, its various Committees and individual directors. The manner in which the performance evaluation has been carried out has been given in detail in the Corporate Governance Report, annexed to this Report.

The Company has in place a policy for appointment & remuneration of Directors and Key Managerial Personnel, encompassing the criteria for determining qualifications positive attributes, independence of a director and other matters provided under Section 178(3) of the Act, and Part D of Schedule II of the Listing Regulations, appended as Annexure 3 to the Directors' Report. The above policy along with the criteria for selection is available on the Company's website at https://www.huhtamaki.com/en-in/ flexible-packaging/investors/corporate-governance-and- policies/policies/

Business Responsibility Report:

As per Regulation 34 of Listing Regulations, 2015 Business Responsibility Report forms part of this Report and is annexed hereto.

In line with the green initiative, Business Responsibility Report of the Company for the year ended December 31, 2019 is available on the website of the Company https://www. huhtamaki.com/en-in/flexible-packaging/investors/financials/ annual-reports/ and forms part of this Report and is kept at the registered office of the Company for inspection. A copy of the aforesaid report shall be made available to such shareholders who are desirous of and interested in perusing them, upon receipt of a written request from them.

Familiarisation Programme for Independent Directors:

Your Company has put in place a Familiarisation Programme for Independent Directors to familiarise them with their roles, rights, responsibilities, nature of the Industry, Company's strategy, business plan, operations, markets, products, etc. The details of the Company's Familiarisation Programme is available on the Company's website - web link: https://www.huhtamaki. com/en-in/flexible-packaging/investors/corporate-governance- and-policies/policies/

Meetings of the Board:

During the year, nine meetings of the Board of Directors were held, particulars of attendance of directors at the said meetings are given in the report on Corporate Governance Report, which forms part of this Report.

Auditors and Auditors' Report:

Pursuant to the provisions of Section 139 of the Companies Act, 2013 read with the Companies (Audit and Auditors) Rules, 2014, M/s. S R B C & Co. LLP, Chartered Accountants (SRBC) were appointed as Statutory Auditors of your Company for a term of five years from the conclusion of the 65th Annual General Meeting held on May 7, 2015 till the conclusion of the 70th Annual General Meeting, subject to ratification by members at every subsequent Annual General Meeting.

As per the provisions of Section 139 of the Companies Act, 2013, the term of office of S R B C & CO. LLP, Chartered Accountants, as Statutory Auditors of your Company will expire from the close of the 70th Annual General Meeting.

The Board of Directors places on record its appreciation for the services rendered by S R B C & CO. LLP, Chartered Accountants (SRBC) during their term as the Statutory Auditors of the Company.

Subject to the approval of shareholders, the Board of Directors of your Company have recommended the appointment of BSR & Co. LLP, Chartered Accountants (Firm Registration Number 101248W/W-100022) as Statutory Auditors of your Company pursuant to the provisions of Section 139 of the Companies Act, 2013 to hold office from the conclusion of the 70th Annual General Meeting, until the conclusion of the 75th Annual General Meeting BSR & Co. LLP, Chartered Accountants, have confirmed their eligibility and willingness for their appointment as Statutory Auditors. A resolution seeking their appointment has been included in the Notice convening the 70th Annual General Meeting of your Company.

The Auditors' Report to the Members on the Accounts of the Company for the year ended December 31, 2019 is a part of the Annual Report. The said Audit Report does not contain any qualification, reservation or adverse remark.

During the year 2019, the Auditors had not reported any matter under Section 143 (12) of the Act, therefore no details is required to be disclosed under Section 134(3)(ca) of the Act.

Cost accounts and Cost Auditors:

In terms of the Section 148 of the Companies Act, 2013 ('the Act') read with Rule 8 of the Companies (Accounts) Rules, 2014, it is stated that the cost accounts and records are made and maintained by the Company as specified by the Central Government under sub-section (1) of Section 148 of the Companies Act, 2013.

The Board of Directors of your Company on the recommendation of Audit Committee has appointed M/s. R. Nanabhoy & Co., Cost Accountants as the Cost Auditors of the Company to conduct the Cost Audit for the Financial year 2020. Pursuant to the provisions of Section 148 of the Companies Act, 2013 read with the Companies (Audit and Auditors) Rules 2014, members of the Company are required to ratify the remuneration to be paid to the Cost Auditors. Accordingly, Members approval is being sought for ratification of their remuneration as Cost Auditors of the Company for the Financial Year 2020. M/s. R. Nanabhoy & Co. have confirmed of their independent status and that they are free from any disqualifications as specified under Section 141(3) and proviso to Section 148(3) read with Section 141(4) of the Companies Act, 2013.

Secretarial Auditor:

The Board of Directors of your Company has appointed M/s. S.N. Ananthasubramanian & Co., Company Secretaries, to conduct Secretarial Audit for the Financial year 2019 pursuant to the provisions of Section 204 of the Companies Act, 2013 and The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014. The Secretarial Audit Report in prescribed format is annexed as Annexure 4 to this Report.

During the Year 2019, your Company has complied with the applicable Secretarial Standards issued by the Institute of Companies Secretaries of India.

Annual Secretarial Compliance Report:

The Company has undertaken an audit for the financial year 2019 for all applicable compliances as per Securities and Exchange Board of India Regulations and Circulars/Guidelines issued thereunder.

The Annual Secretarial Compliance Report has been submitted to the stock exchanges within 60 days of the end of the financial year.

Particulars of Contracts and Arrangements with Related Parties:

Your Company has formulated a policy on related party transactions which is also available on Company's website at https://www.huhtamaki.com/en-in/flexible-packaging/ investors/corporate-governance-and-policies/policies/. This policy deals with the review and approval of related party transactions. The Board of Directors of the Company has approved the criteria for making omnibus approval by the Audit Committee within the overall framework of the policy on related party transactions. Prior omnibus approval is obtained for related party transactions which are of repetitive nature and entered in the ordinary course of business and on arm's length basis. All related party transactions are placed before the Audit Committee for review and approval.

All related party transactions entered during the Year 2019 were in ordinary course of the business and on arm's 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 policy of the Company on materiality of related party transactions. Hence, there were no transactions that were required to be reported in Form AOC 2 as required under Section 134(3)(h) of the Companies Act, 2013. However, members may refer to Notes to the financial statement which sets out related party disclosures pursuant to the Accounting Standards.

None of the Directors and the Key Managerial Personnel have any pecuniary relationship or transactions vis-a-vis the Company.

Particulars of Loans, Guarantees or Investments:

The Company has not granted any loans, guarantees and investments covered under Section 186 of the Companies Act, 2013, during the financial year ended December 31, 2019.

Corporate Social Responsibility:

Your Company is committed to Corporate Social Responsibility (CSR) and strongly believes that the business objectives of the Company must be in congruence with the legitimate development needs of the society in which it operates. During the year under review the Company incurred a CSR Expenditure of Rs. 147.19 lakhs which was lower than the statutory limits. The reason for lower CSR Expenditure has been mentioned in the detailed report on CSR activities is given in Annexure 7, which forms part of this Report.

The CSR projects of the Company mainly focused in the areas of Promotion of Education & Skill Development, Social Welfare & Rural Development and Providing Drinking Water, Sanitation Facilities and Hygiene.

The Company has formed a Trust by the name 'Huhtamaki Foundation' to work in the area of environmental sustainability, recyclability and to set up Sustainability facilities for post consumer use flexible packaging material. The Trust has been registered with the Charity Commissioner's office at Mumbai on February 27, 2020.

The CSR Policy of your Company is in alignment with the requirements of the Companies Act, 2013. Pursuant to the provisions of the Section 135 of the Companies Act, 2013 (the Act), your Company has constituted a CSR Committee to monitor the CSR activities of the Company, details of which are provided in the Corporate Governance Report, forming part of this Report.

Vigil Mechanism/ Whistle-Blower Policy:

Your Company has over the years established a reputation for conducting business with integrity and displays zero tolerance for any unethical behaviour. The Company has in place a Whistleblower Policy with a view to provide a mechanism for its directors/employees to approach the Chairman of the Audit Committee, in case of any grievances or concern. The Audit Committee of the Board oversees the functioning of this policy. Protected disclosures can be made by a whistle-blower through several channels to report actual or suspected frauds and violation of Company's Code of Conduct and/or Ethics Policy. The Whistleblower Policy can be accessed on the Company's website https://www.huhtamaki.com/en-in/flexible-packaging/ investors/corporate-governance-and-policies/policies/. During the year, the Company reached out to employees through e-learning modules and face to face training sessions for creating greater awareness on anti-bribery, anti-corruption and code of conduct, formulated by Company/Group.

Huhtamaki Speak Up channel is a new web-based system where any employee can report any suspected violations of any of the Company policies, Code of Conduct, or any laws or regulations.

During the year the Company received one complaint under Whistle Blower/Vigil mechanism, which is under investigation.

Risk Management & Internal Financial Controls:

• The Company has in place mechanism to inform Board Members about the Risk Assessment and Minimisation procedures which are periodically reviewed to ensure that risk is controlled by the Executive Management.

The Company has also formulated Risk Management Policy to review and control risk. The Company has also constituted a Risk Management Committee at its meeting held on February 17, 2020 which oversees and monitor implementation of Risk Management Policy, validate the process and procedure of Risk Management and Risk Mitigation and periodically review and evaluate the Company's Risk Management Policy.

Details in respect of adequacy of internal financial controls with reference to the Financial Statements are given in the Management's Discussion and Analysis, which forms part of this Report.

Internal Financial Controls and their Adequacy:

The Directors have laid down internal financial controls to be followed by the Company and such policies and procedures adopted by the Company for ensuring the orderly and efficient conduct of its business, including adherence to Company's policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information. The Audit Committee evaluates the internal financial control system periodically.

At the beginning of each Financial Year, annual audit plan is rolled out after the same is approved by the Audit Committee. The Audit Plan is aimed at evaluation of the efficacy and adequacy of internal control system and compliance thereof, robustness of internal processes, policies and accounting procedure and compliance with laws and regulations.

The respective Process Owners take the requisite corrective action, based on internal audit reports/findings. Further, the Internal Auditors place their significant audit observations & corrective actions thereon are presented to the Audit Committee for their review.

Annual Return:

The Extracts of the annual return of the Company has been placed on the website of the Company and can be accessed at link https://www.huhtamaki.com/en-in/flexible-packaging/ investors/financials/annual-reports/

Directors' Responsibility Statement:

To the best of their knowledge and belief and according to the information and explanations obtained by them, your Directors make the following statement in terms of Section 134 of the Act:

a) that in the preparation of the annual financial statements for the year ended December 31, 2019, the applicable accounting standards have been followed along with proper explanation relating to material departures if any;

b) that such accounting policies as mentioned in Note 2 of the Notes to the Accounts have been selected and applied consistently and judgement and estimates have been made that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as on December 31, 2019, and of the profit of the Company for the year ended on that date;

c) that 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) that the annual financial statements have been prepared on a going concern basis;

e) that proper internal financial controls have been laid down to be followed by the Company and that such internal financial controls are adequate and were operating effectively; and

f) that the proper systems to ensure compliance with the provisions of all applicable laws are in place and were adequate and operating effectively.

Human Resources & Particulars of Employees:

Your Company considers people as its biggest assets.

The Company has been providing continuous skill upgradation and learning opportunities through structured career discussions and individual development plans. A detailed note on Human Resources is mentioned in the Management & Discussion Analysis (MDA) section.

Disclosures pertaining to remuneration and other details as required under Section 197(12) of the Act read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are annexed to this Report as Annexure 6.

The statement containing particulars of employees as required under Section 197(12) of the Companies Act, 2013 read with Rule 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, forms part of this report. Further, the report and the financial statements are being sent to the members excluding the aforesaid statement. Further, in terms of provisions of Section 136(1) of the Act, the Annual Report excluding the aforesaid information is being sent to the members of the Company.

The said information is open for inspection at the Registered Office of the Company during business hours on working days of the Company up to the date of the ensuing Annual General Meeting and any member interested in obtaining such information may write to the Company Secretary at the Registered Office of the Company and the same will be furnished on request.1

Disclosure as per the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013

The Company is an equal opportunity provider and continuously strives to build a work culture which promotes the respect and dignity of all employees across the organisation. In order to provide women employees a safe working environment at workplace and also in compliance with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and Rules framed thereunder, the Company has formulated a well-defined policy on prevention, prohibition and redressal of complaints relating to sexual harassment of women at workplace. All women who are associated with the Company either as permanent employees or temporary employees or contractual persons including service providers at company sites are covered under the above policy. The said policy has been uploaded on the website of Company for information of all employees. Your Company has zero tolerance sexual harassment policy at workplace. As per the requirements of the Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013 ('Act') and Rules made thereunder, the Company has constituted an Internal Complaints Committees (ICC).

The Company conducts awareness programmes at its units to sensitise the employees to uphold the dignity of their female colleagues at workplace. During the year, the Company received two complaints and the same was dealt with as per the POSH Regulations.

Other Disclosures/Reporting:

Your Directors state that no disclosure and/or reporting is required in respect of the following items as there were no transactions on these items during the year under review:

• Issue of equity shares with differential rights as to dividend, voting or otherwise;

• Issue of shares (including sweat equity shares) to employees of the Company under any scheme;

• Neither the Executive Director nor the Whole-time Directors of the Company receive remuneration or commission from any of its subsidiaries;

• No significant or material orders were passed by the Regulators or Courts or Tribunals which impact the going concern status and Company's operations in future;

• Other than acquisition of flexible packaging business of Mohan Mutha Polytech Private Limited (“MMPPL”) which was completed on January 10, 2020, there have been no 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 this Report.

Appreciation & Acknowledgements:

The Board wishes to place on record its gratitude for the assistance and co-operation received from Banks, Government Authorities, Customers, Vendors and all its shareholders for the trust and confidence reposed in the Company. The Board further wishes to record its sincere appreciation for the significant contributions made by employees at all levels for their commitment, dedication and contribution towards the operations of the Company.

By Order of the Board
For Huhtamaki PPL Ltd.
Murali Sivaraman
Chairman
(DIN No. 1461231)
March 18, 2020

   

Huhtamaki PPL Ltd Company Background

Murali Sivaraman
Incorporation Year1950
Registered Office12A-06 B Wing 13th Flr C-38/39,Bandra Kurla Complex Bandra(E)
Mumbai,Maharashtra-400051
Telephone91-22-61740400/26531310,Managing Director
Fax91-22-61740401/26531310
Company SecretaryD V Iyer
AuditorS R B C & Co LLP
Face Value2
Market Lot1
ListingBSE,MSEI ,NSE,
RegistrarTSR Darashaw Consultants P Ltd
6-10 Haji Moosa ,Patrawala Ind.Estate,DrEMoses Rd Mahalaxm,Mumbai - 400 011

Huhtamaki PPL Ltd Company Management

Director NameDirector DesignationYear
D V Iyer Company Secretary 2019
Arup Basu Executive Director 2019
Murali Sivaraman Chairman & Independent Directo 2019
Ranjeev Lodha Executive Director & CFO 2019
Seema Modi Addtnl Independent Director 2019
ASHOK KUMAR BARAT Additional Director 2019

Huhtamaki PPL Ltd Listing Information

Listing Information
CNX500
BSESMALLCA
BSEALLCAP
INDUSTRIAL

Huhtamaki PPL Ltd Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Sale of Products NA 0002532.1805
Other Operating Revenue NA 00034.6987
Service Income NA 00015.4908
Others NA 0000
Excise Duty & Sales Tax MT 0000
Job Work (Others) MT 0000
Jobwork-Metallised Films MT 0000
Polyethylene Films MT 0000
Films-Metallised MT 0000
Laminated & Coated Paper MT 0000
Carton MT 0000

Contact us Contact us