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Volume 280564

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MARKET CAP (RS CR) 14
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News & Announcements

19-Oct-2020

M K Exim (India) Ltd - Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

19-Oct-2020

M K Exim (India) Ltd - Certificate From Practicing Company Secretary As Clause 40(9)

19-Oct-2020

M K Exim (India) Ltd - Compliance Certificate As Per Clause 7 (3)

10-Oct-2020

M K Exim (India) Ltd - Statement Of Investor Complaints For The Quarter Ended September 2020

05-Sep-2020

MK Exim (India) announces board meeting date

28-Aug-2020

MK Exim (India) to convene AGM

20-Aug-2020

MK Exim (India) to hold board meeting

28-Jul-2020

MK Exim (India) to discuss results

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 P T Yarns Ltd 532046
AARV Infratel Ltd 526488
Abhishek Spinfab Corporation Ltd (Merged) 532206
Acknit Industries Ltd 530043
Active Clothing Co Ltd 541144
Addi Industries Ltd 507852
Aditri Industries Ltd 534707
Aditya Birla Fashion & Retail Ltd 535755 ABFRL
Aditya Birla Fashion & Retail Ltd Partly Paidup 890148 ABFRLPP
Alan Scott Industries Ltd 539115
Alps Industries Ltd 530715 ALPSINDUS
Amit International Ltd 531300
Anant Rotospin Ltd 521012
Angel Fibers Ltd 541006
Anisa Carpets Ltd 40298
Arora Fibres Ltd 521174
Arrow Textiles Ltd(Merged) 533068 ARROWTEX
Arrow Webtex Ltd(merged) 514193
Artedz Fabs Ltd 535156 ARTEDZ
Arun Processors Ltd 526239
Ashapura Intimates Fashion Ltd 535467 AIFL
Ashnoor Textile Mills Ltd 507872
Auroknit Exports (India) Ltd 512569
Axita Cotton Ltd 542285
Bang Overseas Ltd 532946 BANG
Barkha Industries Ltd 530587
Bella Casa Fashion & Retail Ltd 539399
Bhandari Hosiery Exports Ltd 512608 BHANDARI
Bharat Textiles & Proofing Industries Ltd 531029
Bhilwara Technical Textiles Ltd 533108
Billwin Industries Ltd 543209
Bindal Exports Ltd 540148
Birla Transasia Carpets Ltd 503823
Bombay Rayon Fashions Ltd 532678 BRFL
Brandhouse Retails Ltd 533059 BRANDHOUSE
Cantabil Retail India Ltd 533267 CANTABIL
Ceenik Exports (India) Ltd 531119 CEENIKEXPO
Celebrity Fashions Ltd 532695 CELEBRITY
Cethar Industries Ltd 531473
Cherry Fashions Ltd 531376
Cityman Ltd 521210
Cosmos Apparels Ltd 531329
Delight Handicrafts Palace Ltd 521218
Denim Fashions Ltd 521169
Denish-Knit Industries Ltd 521058
Dhar Textile Mills Ltd 530949
Dharnendra Overseas Ltd 523331
Digjam Ltd 539979 DIGJAMLTD
Digjam Ltd (Merged) 503796
Divya Enterprises Ltd 514334
Dollar Industries Ltd 541403 DOLLAR
Dupont Sportswear Ltd 523824
Elar Fashions Ltd 523125
Eskay KnIT (India) Ltd 514118 SHREEKRPET
Evinix Industries Ltd 532818 EVINIX
Fiberweb (India) Ltd 507910
Filatex Fashions Ltd 532022
First Winner Industries Ltd 532996 FIRSTWIN
Future Enterprises Ltd 523574 FEL
Future Enterprises-DVR 570002 FELDVR
Future Lifestyle Fashions Ltd 536507 FLFL
Garment Mantra Lifestyle Ltd 539216
Garware Synthetics Ltd 514400
Garware Technical Fibres Ltd 509557 GARFIBRES
GB Global Ltd 533204 GBGLOBAL
Global Knitfab Ltd 531895
Globe Textiles (India) Ltd 538431 GLOBE
Gokaldas Exports Ltd 532630 GOKEX
Gold Multifab Ltd 531709
Golden Carpets Ltd 531928
Goldwon Textiles Ltd 521230
Grabal Alok Impex Ltd(merged) 532909 GRABALALK
Gretex Industries Ltd 538378 GRETEX
Gujarat Apparels Ltd 40358
Gujarat Bulk Packs Ltd 531188
Gujarat Narmada Knitwear Ltd 514278
Hanung Toys and Textiles Ltd 532770 HANUNG
Hari Govind International Ltd 531971
Haria Apparels Ltd 538081
Haria Exports Ltd 512604 HARIAEXPO
Himatsingka Seide Ltd 514043 HIMATSEIDE
Hinafil India Ltd 526779
Hindustan Cotex Exports Ltd 521093
H-Lon Hosiery Ltd 521095
Ideal Carpets Ltd 526259
Indian Terrain Fashions Ltd 533329 INDTERRAIN
Integra Garments & Textiles Ltd 535958 INTEGRA
Intercraft Ltd 521072
International Hometex Ltd 526185
Iris Clothings Ltd 535123 IRISDOREME
Jakharia Fabric Ltd 535093 JAKHARIA
Jayatma Enterprises Ltd 539005
Jersey India Ltd (Wound-up) 521145 JERSY
Jet Knitwears Ltd 538374 JETKNIT
Jinaams Dress Ltd 542653
Jindal Worldwide Ltd 531543 JINDWORLD
Jyoti Overseas Ltd 523876
K P R Mill Ltd 532889 KPRMILL
Kewal Kiran Clothing Ltd 532732 KKCL
KG Petrochem Ltd 531609
Khoobsurat Ltd 535730
Kitex Garments Ltd 521248 KITEX
K-Lifestyle & Industries Ltd 514221 SHREEKRPOL
Knitworth Exports Ltd 531587
Koratla Textiles India Ltd 521074
Koutons Retail India Ltd 532901 KOUTONS
Krishna Filament Industries Ltd 500248 KRISNAFILA
KSL and Industries Ltd 530149
Kumar Wire Cloth Manufacturing Company Ltd 513703
Lagnam Spintex Ltd 535108 LAGNAM
Libas Designs Ltd 538391 LIBAS
Lloyd Rock Fibres Ltd 531527
Lovable Lingerie Ltd 533343 LOVABLE
LWS Knitwear Ltd 531402
Mahalaxmi Rubtech Ltd 514450
Mallcom (India) Ltd 539400
Mandhana Retail Ventures Ltd 540210 TMRVL
Mangal Knits Ltd 531183
Mangalam Ventures Ltd 514492
Manomay Tex India Ltd 540396
Mansukh Industries Ltd (Wound-up) 532110 MANSUKHIND
Marvel Decor Ltd 535059 MDL
Maxwell Apparel Industries Ltd 40152
Meca Quilts Ltd 531747
Meyer Apparel Ltd 531613
Mittal Life Style Ltd 535062 MITTAL
Modern Terry Towels Ltd(Merged) 500283 MODERNWOOL
Momai Apparels Ltd 532520 MOMAI
Monte Carlo Fashions Ltd 538836 MONTECARLO
Morarjee Textiles Ltd 532621 MORARJEE
MW Unitexx Ltd 532442
Nachmo Knitex Ltd 514328
Nahar Spinning Mills Ltd 500296 NAHARSPING
Nandan Denim Ltd 532641 NDL
Nandani Creation Ltd 538375 NANDANI
Neha Exports Ltd 531949
New India Retailing & Investment Ltd 40399
Niryat Sam Apparels (India) Ltd 531836
Novotex Industries Ltd (Wound-up) 514432
Nutricircle Ltd 530219
Ocean Knits Ltd 514468
Osiajee Texfab Ltd 540198
Oxemberg Apparels Ltd 503899
Page Industries Ltd 532827 PAGEIND
Pan Clothing & Consolidated Company Ltd 521190
Pappilon Exports Ltd 530837
Parakaram Technofab Ltd 530791
Pasupati Haryana Woollens Ltd 514132
Pasupati Technofab Ltd 532044
PDS Multinational Fashions Ltd 538730 PDSMFL
Pearl Global Industries Ltd 532808 PGIL
Pearl Global Ltd 521123 PEARLGLOBL
Pegasus Apparels Ltd 521155
Perfect-Octave Media Projects Ltd 521062
Pioneer Embroideries Ltd 514300 PIONEEREMB
Prakash Woollen & Synthetic Mills Ltd 531437
Preyanshu Exports Ltd (Wound-up) 512636
Preyanshu Industies Ltd 524318
Priti International Ltd 535089 PRITI
Prompt International Ltd 40381
Provogue (India) Ltd 532647 PROVOGE
Punjab Woolcombers Ltd 509839 PUNJABWOOL
Radhika Polyesters Ltd 514444
Raghu Industries Ltd 521092
Rainbow Denim Ltd 532441
Raymond Ltd 500330 RAYMOND
Riba Textiles Ltd 531952
Ritesh Exports Ltd 512575
Ritesh Properties & Industries Ltd 526407
RLF Ltd 512618
Royal Industries Ltd 531634
Rupa & Company Ltd 533552 RUPA
S K International Export Ltd 542728
S P Apparels Ltd 540048 SPAL
Sagar Apparels Ltd 521086
Sajjan Udyog Exports Ltd 40204
Salzer Textiles Ltd (Merged) 521111
Sambhav Textiles Ltd 40289
Samrat Ashoka Exports Ltd (Wound-up) 526701
Samtex Fashions Ltd 521206
Santogen Exports Ltd 511141
Sarda Information Technology Ltd 514488
Scruples Clothing Ltd 531993
Seasons Furnishings Ltd 521182
Shahlon Silk Industries Ltd 542862
Sharadha Terry Products Ltd 514422 SHARADTERY
Sheena Textiles Ltd 521026
Sheshadri Industries Ltd 539111
Shiva Sutex Ltd 531853
Shivam Apperals Export Ltd 531995
Shoppers Stop Ltd 532638 SHOPERSTOP
Shree Ganesh Knit (India) Ltd 530653
Shri Ambica Mills Ltd 40062
Shri Bholanath Carpets Ltd 530841
Shri Dinesh Mills Ltd 503804 SHRIDINESH
Shubham Polyspin Ltd 542019
SKS Textiles Ltd 535044 SKSTEXTILE
Sky Industries Ltd 526479
Southern Latex Ltd 514454
Spenta International Ltd 526161
Spice Islands Apparels Ltd 526827
SPL Industries Ltd 532651 SPLIL
SRH Synthetics Ltd 530981
Stallion Garments Export Ltd 531123
Subhash Silk Mills Ltd 530231
Subhlaxmi Exports Ltd 512632
Sudar Industries Ltd 533332 SUDAR
Suditi Industries Ltd 521113 SUDITIND
Sueryaa Knitwear Ltd 540318
Sunday Exports Ltd 530425
Super Fine Knitters Ltd 540269
Superior Sox Ltd 514438
Supra Trends Ltd 511539
Supreme (India) Impex Ltd 532558 SIIL
Suvarna Apparel & Fashion Export Ltd 531461
Swan Energy Ltd 503310 SWANENERGY
Swastik Technofab Ltd 40463
T T Ltd 514142 TTL
TCNS Clothing Co. Ltd 541700 TCNSBRANDS
Terryfab (India) Ltd 530727
Terrygold (India) Ltd 514478
Thomas Scott India Ltd 533941 THOMASCOTT
Tirupati Foam Ltd 540904
Towels India Exports Ltd 512612
Trend Designs Ltd 526219
Trident Ltd 521064 TRIDENT
Uma Fabrics Ltd 532052
Unimin India Ltd 530321 UNIMIN
Uniproducts (India) Ltd 507856
United Leasing & Industries Ltd 507808
United Polyfab Gujarat Ltd 533024 UNITEDPOLY
Uniworth Ltd 514144 WOOLWORTH
Uniworth Textiles Ltd 500138 FABWORTH
V2 Retail Ltd 532867 V2RETAIL
Vanasthali Textile Industries Ltd 521046
Vandana Knitwear Ltd 532090
Vee Kay Fibres Ltd (Wound-up) 514156
Viniyoga Clothex Ltd 521088 VINYOGCLOT
VIP Clothing Ltd 532613 VIPCLOTHNG
Viral Filaments Ltd (Wound-up) 500442 VIRALFILA
Viral Syntex Ltd 526171 VIRALSYNTX
Virat Industries Ltd 530521
Vogue Textiles Ltd 530583
Voith Paper Fabrics India Ltd 522122 PORRITSPEN
Volvo Terry Industries Ltd 526289
Welcome Coir Industries Ltd 531564
Welspun Global Brands Ltd (Merged) 533495 WELGLOB
Welspun India Ltd 514162 WELSPUNIND
Wires & Fabriks (S.A) Ltd 507817
Womens Next Loungeries Ltd 538128
Woolways (India) Ltd 532075
York Exports Ltd 530675
Zenith Exports Ltd 512553 ZENITHEXPO
Zodiac Clothing Company Ltd 521163 ZODIACLOTH

Share Holding

Category No. of shares Percentage
Total Foreign 0 0.00
Total Institutions 0 0.00
Total Govt Holding 0 0.00
Total Non Promoter Corporate Holding 0 0.00
Total Promoters 2427750 33.81
Total Public & others 4752750 66.19
Total 7180500 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About M K Exim (India) Ltd

Incorporated as a private limited company in 1992, M K Exim (India) was converted into a public limited company in Feb.'95. It was promoted by K L Khanchandani, Daya Ram Khanchandani and Shyam Khanchandani. The company set up an unit at Jaipur to manufacture synthetic fabrics. Commercial production commenced in Apr.'94. It exports most of the production to the middle-east countries. In 1995-96, the company envisaged an expansion-cum-diversification project to augment the total production of synthetic fabrics and to start manufacturing knitted fabrics at Jaipur, for the export purpose. Presently, it has 12 looms to produce synthetic fabric having an installed capacity of approximately 5.30 lac mtr pa. In the expansion-cum-diversification programme, it proposes to double the existing capacity by installing another 12 looms for synthetic fabric and also install 4 knitted fabric machines for its diversification. The total cost of the expansion programme is estimated to Rs.213 lacs.

M K Exim (India) Ltd Chairman Speech

M K Exim (India) Ltd Company History

Incorporated as a private limited company in 1992, M K Exim (India) was converted into a public limited company in Feb.'95. It was promoted by K L Khanchandani, Daya Ram Khanchandani and Shyam Khanchandani. The company set up an unit at Jaipur to manufacture synthetic fabrics. Commercial production commenced in Apr.'94. It exports most of the production to the middle-east countries. In 1995-96, the company envisaged an expansion-cum-diversification project to augment the total production of synthetic fabrics and to start manufacturing knitted fabrics at Jaipur, for the export purpose. Presently, it has 12 looms to produce synthetic fabric having an installed capacity of approximately 5.30 lac mtr pa. In the expansion-cum-diversification programme, it proposes to double the existing capacity by installing another 12 looms for synthetic fabric and also install 4 knitted fabric machines for its diversification. The total cost of the expansion programme is estimated to Rs.213 lacs.

M K Exim (India) Ltd Directors Reports

To

The Members of

M K Exim India Limited

Your Directors have pleasure in presenting their 27thAnnual Report and the audited financial statements for the financial year ended 31st March 2019

1 Standalone Financial Results

The summarized financial results for the financial year ended 31st March 2019 are presented below:

Rs. In Lakhs

Details Financial year ended 31st March 2019 Financial year ended 31stMarch 2018
Income from operations 2520.78 1999.00
Profit before interest, depreciation and taxation 124.95 127.49
Finance cost 39.86 62.54
Depreciation 24.13 29.20
Profit before tax 60.95 35.75
Taxation 25.24 11.16
Profit after tax 35.71 24.59
Balance brought forward from previous year 1000.42 975.83
Less Dividend - -
Disposable surplus available after adjustments 1036.13 1000.42
Balance carried to balance sheet 1036.13 1000.42

The income during the financial year ended 31st March 2019 is Rs. 2520.78 lakhs compared to Rs. 1999.00 lakhs, a increase of about 26%. The increase was due to good global textiles market and healthy competition in export markets. The profit after tax is Rs. 35.71 lakhs for the year under report compared to Rs. 24.59 lakhs for the financial year ended 31st March 2018. The sales by way of exports are Rs. 2366.79 lakhs during the year ended 31st March 2019 compared to Rs. 1909.54 lakhs in the previous year. Export sales constitute about 94% of the total revenue during the year.

2 Dividend Distribution & Transfer to reserves

With a view to conserve the resources for the business of the Company, the Directors do not recommend dividend for the financial year ended 31st March 2019.

The Board of Directors has decided to retain the entire amount of profit for Financial Year 2018-19 in the statement of profit and loss and does not proposed any amount to carry to any specific reserve

3 Share Capital

The paid up equity share capital of the Company as at 31 st March 2019 stood at Rs. 718.05 lakhs. During the year under review, the Company has not issued shares with differential voting rights nor has it granted any stock options or sweat equity. None of the directors of the Company hold instruments convertible into equity shares during the financial year ended 31st March 2019.

4 Analysis & Review

The Indian textiles industry is extremely varied, with the hand-spun and hand-woven textiles sectors at one end of the spectrum, while the capital intensive sophisticated mills sector at the other end of the spectrum. The decentralised power looms/ hosiery and knitting sector form the largest component of the textiles sector. The close linkage of the textile industry to agriculture (for raw materials such as cotton) and the ancient culture and traditions of the country in terms of textiles make the Indian textiles sector unique in comparison to the industries of other countries. The Indian textile industry has the capacity to produce a wide variety of products suitable to different market segments, both within India and across the world.

The domestic textile industry in India is estimated to reach US$ 223 billion by 2021. Increased penetration of organised retail, favourable demographics, and rising income levels are likely to drive demand for textiles. India is the world's second largest exporter of textiles and clothing. Textile and apparel exports from India are expected to increase to US$ 82 billion by 2021.

The fundamental strength of the textile industry in India is its strong production base of wide range of fibre /yarns from natural fibres like cotton, jute, silk and wool to synthetic / man-made fibres like polyester, viscose, nylon and acrylic. India's textiles industry contributed seven per cent of the industry output (in value terms) of India in 201718. It contributed two per cent to the GDP of India and employs more than 45 million people in 2017-18. The sector contributed 15 per cent to the export earnings of India in 2017-18.

The new textile policy aims to achieve US$ 300 billion worth of textile exports by 2024-25 and create an additional 35 million jobs. By 2022, the Indian textile sector will require additional 17 million workforce.

Opportunity and threats

The Government supports modernisation of the industry with a particular focus on closing the gap in the textile value chain and has taken several measures to create those positive impulses. But there are still some improvements possible. The industry waits for the proposed reform in labour law, support to develop a skilled work force and programmes to bind talents to be able to translate market needs into quality products.

The Company is experiencing pressure on margins due to severe competition from other low-cost countries like China. There is also a threat of high inflation rate as the prices of commodities have been increasing. Textiles being a labour intensive industry, rising labour and skilled human resources costs can put pressure on margins.

The implementation of Goods and Service Tax (GST) had mixed impact on trade & commerce during the last fiscal. The impact of GST is particularly stark in the highly fragmented synthetic textile industry, which attracts different GST rates at different stages of production and sales. Working capital cost has gone up as the businesses have to wait for tax refunds to come through. Pending tax refunds have slowed down fresh investment and resulted into liquidity constraints.

Business Risks

As stated above, Export sales constitute about 94% of the total revenue during the year. Apart from fierce competition from China, Korea and Indonesia, the volatility of rupee vis a vis US dollars is a major business risk as all export invoices are issued in US Dollars. This is sought to be overcome by appropriate forward contracts.

Government initiatives

The Indian government has come up with a number of export promotion policies for the textiles sector. It has also allowed 100 per cent FDI in the Indian textiles sector under the automatic route.

As of August 2018, the Government of India has increased the basic custom duty to 20 per cent from 10 per cent on 501 textile products, to boost Make in India and indigenous production.

The Indian Government announced a special package to boost exports by USD 31 billion, create one core job opportunities and attract investments worth USD 11.93 billion during 2018-2020.

The cabinet committee on Economic Affairs (CCEA), Government of India has approved a new skill development scheme named "Scheme for capacity building in Textiles Sector (SCBTS)" with an outlay of Rs. 1300 Crore (USD 202.90 Million) from 2017-18 to 201920.

The Directorate General of Foreign Trade (DGFT) has revised rates for incentives under the Merchandise Exports from India Scheme (MEIS) for two subsectors of Textiles Industry - Readymade garments and Made ups - from 2 per cent to 4 per cent.

5 Performance highlights

(a) Share Capital

The Authorised Share Capital of the Company is 10,00,00,000/- comprising of 1,00,00,000 equity shares of Rs. 10/- each. The paid-up capital of the Company is Rs. 7,18,05,000/-.

(b) Loan funds

During the year the Secured Loan of the Company was decreased by 20.18%, i.e. from Rs. 462.62 Lakhs to Rs. 369.28 Lakhs, the interest cost reduced during the year.

(c) Sales

During the year the turnover of the Company has increased by 24%, i.e. from Rs. 1909.55 Lakhs to Rs. 2366.79 Lakhs, the board is making their possible efforts to improve the performance of the company during the current financial year.

6 Finance& Accounts

The Company prepares its financial statements in accordance with the requirements of the Companies Act 2013(hereinafter referred as "the Act" or "Act") and the Generally Accepted Accounting Principles (GAPP) as applicable in India. The financial statements have been prepared on historical cost basis in conformity with the Indian Accounting Standards ("Ind AS"). The estimates and judgments relating to the financial statements are made on a prudent basis so as to reflect in a true and fair manner, the form and substanceof transactions and reasonably present the Company's state of affairs, profits and cash flows for the financial year ended 31st March 2019.

7 Corporate Social Responsibilities

Section 135 of the Act and the rules made there under relating to corporate social responsibility are not applicable to the Company during the financial year ended 31st March 2019.

8 Subsidiaries

Kolba Farm Fab Private Limited is the subsidiary of the Company. The sales of the subsidiary Company were Rs. 357.11 Lakhs during the financial year ended 31st March 2019 compared to Rs. 288.61 Lakhs in the previous year. The net profit after tax was Rs. 13.88 Lakhs during the year under report compared to Rs. 15.34 Lakhs in the previous year.

The salient features of the financial statement of the subsidiary are given in form AOC 1.

9 Consolidated Financial Statement

The consolidated financial statements of the Company are prepared in accordance with the relevant accounting standards issue by the Institute of Chartered Accountants of India and form an integral part of this report.

Pursuant to section 129(3) of the Act and the relevant rules made thereunder, a statement containing salient features of the financial statement of the subsidiary company is given in form AOC 1 and forms an integral part of this report.

10 Corporate Governance

In terms of Regulation 15(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 provisions of corporate governance contained in Regulations 17 to 26, 46(2)(b)(i) and paras C, D and E of Schedule V to the above SEBI regulations are not applicable to the Company.

11 Listing of shares in BSE

During the financial year under report, the equity shares continued to be listed at BSE, Which has nationwide trading terminals.

12 Extract of Annual Return

The extract of annual return in form MGT 9, as required under section 92 of the Act, as at 31st March 2019, is annexed to this report as Annexure A which forms part of this report.

13 Key Managerial Personnel

The key managerial personnel of the Company are given below:

Sr No. Name Designation
1 Shri Manish Murli Dialani Managing Director
2 Smt Lajwanti M Dialani Whole Time Director
3 Shri Mahaveer Prasad Jain Chief Financial Officer
4 Smt Prakriti Sethi Company Secretary

14 Board of Directors

During the F.Y 2018-19, the following changes took place in composition of board of directors:

Appointment

As recommended by the Nomination and Remuneration Committee and as required under the provisions of the Companies Act 2013, the Board has appointed Mr. Laxmikant Ramswaroop Patodia (DIN: 03497821), and Vishesh Mahesh Nihalani (DIN: 06786707) as additional independent Director for a period of five years with effect from 20th June 2018 and further their appointment were approved by members in AGM dated 24/09/2018.

Pursuant to the provisions of Section 149 of the Act, the independent directors have submitted declarations that each of them meet 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 ("SEBI Listing Regulations"). There has been no change in the circumstances affecting their status as independent directors of the Company.

Resignation/Cessation:

• The independent Directors, namely, Mr. Ashok Patni (DIN:00162153), Mr. Kishore Motiyani (DIN 00161589) and Mr. Murlidhar Menghani (DIN 00157301) resigned from the board due to personal commitments and reasons with effect from 20th June, 2018.

• Mr. Daya Ram Khanchandani ceased as Director of the Company w.e.f 30.01.2019, due to his death.

Changes in composition of board of directors after financial ended on 31/03/2019 are as follows:

Appointment

• As recommended by the Nomination and Remuneration Committee and approved by Board and as required under the provisions of the Companies Act 2013, Miss Priya Murlidhar Makhija (DIN: 07109712) as additional independent Directors. As per the provisions of the Companies Act, 2013, Independent Directors have been appointed for a period of five years and shall not be liable to retire by rotation. Her appointments require shareholders approval and are included in the notice.

• As recommended by the Nomination and Remuneration Committee and approved by Board, and as required under the provisions of the Companies Act 2013, Mr. Murli Wadhumal Dialani as additional Directors and with effect from April 11, 2019 to hold office of Director up to the date of ensuing Annual General Meeting. The Company has received a notice in writing from a member as prescribed under section 160 of the Act proposing the candidature of Mr. Murli Wadhumal Dialani for the office of Director of the Company. Further the Board on recommendation of Nomination and Remuneration Committee has proposed to appoint Mr. Murli Wadhumal Dialani as Whole-time Director for a period of 5 (five) years from this AGM i.e. from 28/09/2019 to 27/09/2024 and to designated as Chairman. His appointments require shareholders approval and are included in the notice

The Independent Directors of your Company have given the certificate of independence to your Company stating that they meet the criteria of independence as mentioned under Section 149(6) of the Companies Act, 2013.

15 Number of meetings of the Board

During the year under review the board met 7 times on 30.05.2018, 20.06.2018, 06.08.2018, 24.08.2018, 12.11.2018, 15.12.2018 and 08.02.2019. The intervening gap between the meetings was within the period prescribed under the Companies Act, 2013 and the Listing Regulations.

16 Board Evaluation

The performance evaluation of the independent directors was completed. The performance evaluation of the Chairman and non-independent directors was carried out by the independent directors and was accepted by the Board. The Board of directors expressed satisfaction of the evaluation process adopted by the Company.

17 Particulars of loans, guarantees or investments by the Company

During the year, the Company has not given any loan or issued any guarantee, provided any security or made any investment/subscription, purchase or otherwise, the securities of any other body corporate.

18 Whistle Blower policy/Vigil Mechanism

The Company has a Whistle Blower Policy and has established the necessary vigil mechanism for directors and employees to report concerns about unethical behavior. No person has been denied access to the Chairman of the Audit Committee. The said policy has been uploaded on the website of the Company.

19 Policy on director's appointment/remuneration /determining qualifications, /positive attributes etc

Company has constituted Nomination and Remuneration Committee and adopted Nomination and Remuneration Policy formulated in compliance with Section 178 of the Companies Act, 2013 read with rules thereunder and of the SEBI (LODR) Regulations, 2015. The said policy includes criteria for determining qualifications, positive attributes, independence of directors and other matters provided. During the reporting period the board had three members consisting of non-executive and independent directors.

The said policy is of the company on director's appointment and remuneration, including the criteria for determining qualification, positive attribute, independence of a directors and other matters as required under sub section (3) of section 178 of the companies act, 2013 is available on our website at : http ://www. m kex i m.com/policy/nomination- remunaration-policy.

20 Related party transactions

All transactions entered with related parties for the financial year ended 31st March 2019 were on arm's length basis and in the ordinary course of business under third proviso to section 188(1) of the Act. Hence Details are not given in form AOC 2 as required under section 134(3) (h) of the Act.

Pursuant to section 188 of the Companies Act 2013, member's approval by way of ordinary resolution has been obtained for the transactions with M/s. Laaj International, M/s Kolba farm Fab Private Limited and M/s Manish Overseas in which some directors are interested.

Omnibus approval, wherever required was given for transactions of repetitive nature on half yearly basis. All related party transactions are placed before the Audit Committee and the Board of Directors for approval. All related party transactions entered during the financial year ended 31st March 2019 are disclosed in the notes to accounts.

21 Significant and material orders passed by the regulators or courts

There are no significant and material orders passed by the regulators or courts against the Company during the year. There are also no material development which may impact on the business of the Company, from the end of the financial year and the date of this report.

22 Directors responsibility statement

To the best of knowledge and belief and according to the information and explanation obtained by them, your directors make the following statement in terms of section 134(3) (c) of the Companies Act 2013:

(a) That in preparation of the annual accounts for the year ended 31st March 2019 the applicable accounting standards have been followed and that there were no material departures;

(b) the directors had 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 state of affairs of the Company as at 31st March 2019 and of the profit of the Company for the year ended on that date;

(c) 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;

(d) That the annual accounts have been prepared on a going concern basis

(e) that proper internal financial controls were laid down and that such internal financial controls were adequate and were operating effectively; and

(f) That the directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

23 Statutory auditors

The statutory auditors of the Company M/s Vimal Agrawal & Associates, Chartered Accountants (FRN: 004187C), were re-appointed as auditors of the Company in the AGM held on 29.09.2014 for the period of 5 years i.e. till the AGM held in the year 2019. The said firm of Auditor have completed their term of 10 years pursuant to the provisions of section 139 of the Companies Act, 2013 read with The Companies (Audit and Auditors) Rules, 2014 and therefore not eligible for re-appointment for five years from the completion of such term:

Accordingly, on recommendation of Audit committee and further approval of Board, it is proposed to appoint M/s Rishabh Agrawal and Associates, Chartered Accountants, Jaipur (FRN: 018142C), as statutory auditor of the Company for a period of five years and to hold office from the conclusion of this AGM till the conclusion of the 32nd AGM to be held in the year 2024. The company has obtained consent and eligibility certificate from M/s Rishabh Agrawal and Associates, Chartered Accountants, Jaipur (FRN: 018142C), confirming their willing and eligibility to be appointed as statutory auditor of the company, if approved by members.

24 Qualification in the auditor's report

With reference to the Statutory auditor's remarks in regard to Ind AS 19 for Employees Benefits for provision of gratuity, the Directors clarify that the liability for gratuity payable by the Company is being worked out in consultation with LIC and appropriate policy as advised by LIC will be taken in due course, during the current financial year.

25 Cost Audit

The company is not required to maintain cost record as specified by the Central Government under section 148(1) of the Companies Act, 2013. The provisions of the Companies (Cost Records and Audit) Rules 2014 are not applicable to the company operations.

26 Secretarial Audit Report

As required under section 204 of the Companies Act 2013, the Secretarial Audit Report from Ms. Anshu Parikh, Practising Company Secretary (FCS:9785, CP: 10686) is annexed to this report as Annexure B which forms part of this report.

With reference to the observations of the Secretarial Auditor in her report, we clarify that delay in disclosure/intimation under mentioned regulations of LODR were unintentionally due to unavoidable circumstances/for the reasons beyond control. The Company has complied with said regulations. The delays of compliances are of administrative in nature and the interests of investors are not prejudicially affected.

27 Internal control systems and their adequacy

The Company's internal controls are commensurate with its size and the nature of its operations. These have been designed to provide reasonable assurance with regard to recording and providing reliable financial and operational information, complying with applicable statutes, safeguarding assets from unauthorized use, executing transactions with proper authorization and ensuring compliance with corporate policies. The company has a well-defined delegation of power with authority limits for approving contracts as well as expenditure. Processes for formulating and reviewing annual and long term business plans have been laid down.

M/s Vimal Agrawal & Associates the statutory auditors of the company have audited the financial statements included in this annual report and have issued an attestation report on our internal control over financial reporting (as defined in section 143 of Companies Act 2013).

The internal audit is entrusted to M/s Madhur & Associates, Chartered Accountants. The Audit Committee reviews the adequacy and effectiveness of the internal control systems and suggests improvements, wherever required.

28 Environments and Safety

The Company's operations do not pose any environment hazards and are conducted in such a manner that safety of all concerned and compliances with environmental regulations are ensured.

29 Deposit

The Company has not accepted any deposits from public and as such, no amount on account of principal or interest on deposits from public was outstanding as on the date of the balance sheet.

30 Statutory Information

A. Conservation of energy:

I. The Company has committed to conserve energy, improve energy efficiency through reduction of wastage and optimum utilisation.

ii. Steps taken for utilizing alternate sources of energy: Nil

iii. Capital investment on energy conservation: Nil

B. Technology Absorption:

The Company has no technology agreement and the issue of technology absorption does not arise.

C. Foreign exchange earnings and outgo

Foreign Exchange earnings: Rs. 2359.65 lakhs
Foreign Exchange outgo: Rs. 0.61 lakhs

31 Details of disclosure pursuant to section 197(12) of the Companies Act 2013 read with rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014 are given in Annexure-C which forms part of this report.

32 Material changes and commitments occurred in terms of section 134(3)(l) of the companies act, 2013

No significant changes and commitment occurred between the date of the balance sheet and the date of the report.

33 Disclosures under Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013

Pursuant to the disclosure requirements under section 134(3) and rules thereof of the Companies Act, 2013 the Company has constituted internal complaint committee as required under provisions of Sexual Harassment of woman at workplace (prevention, Prohibition & Redressal) Act 2013.

The Company has not received any complaint of sexual harassment during the year under review.

34 Risk Management policy

The Company has developed and established a risk management policy/ Plan for the Company which sets out a framework for identification of elements of Risk, if any which in the opinion of the Board may threaten the existence of the Company and has devised a proper system of risk management and internal compliance and control through its Board, Audit Committee, KMP's and other Senior personnel of the Company.

35 Audit Committee

The Audit committee has been constituted to meet the requirements of the provisions of the Companies Act, 2013, rules and regulations as may be prescribed. The members of the Audit Committee have requisite financial and management expertise.

Composition of the Committee during F.Y 2018-19 as follows:-

S.No Name of Members Designation
1 Mr. Dayaram Khanchandani Chairman (past director, passed away on 30/01/2019)
2 Mr. Laxmikant R Patodia Member
3 Mr. Vishesh M Nihalani Member
4 Mrs. Lajwanti m Dialani Member

During the year under report, the committee met 6 times on 30.05.2018, 06.08.2018, 24.08.2018, 12.11.2018, 15.12.2018 and 08.02.2019. The recommendations made by the Audit committee during the year were accepted by the Board.

36 Nomination and remuneration committee and stakeholders committee

The company has complied with section of regulation 178 regarding constitution of Nomination and remuneration committee and stakeholders committee.

37 Independent Directors' Declaration

The Company has received the necessary declaration from each Independent Director in accordance with Section 149(7) of the Companies Act, 2013, read with Regulations of the Listing Regulations that he/she meets the criteria of independence as laid out in Section 149(6) of the Companies Act, 2013 and Regulations of the Listing Regulations.

38 Change in nature of Business

There is no change in business/objects of the Company during the reporting period.

After the end of F.Y 2018-19, the Company has altered the object clause of its Memorandum ofAssociation by adding thereto the business activities related to manufacturing, importing, exporting, distributing, buying, selling, dealing in all manner in all kinds of cosmetics, personal and health care products, food and food supplements etc more particularly define in altered Memorandum of Association of the Company.

39 Acknowledgment

The Directors wish to place on record their appreciation of the contribution made by the employees at all levels.

The Directors also to wish to thank the Company's customers and banks for their continued support and faith reposed in the Company.

By order of the Board

SD/- SD/-
Manish Murlidhar Dialani Lajwanti M Dialani
Managing Director Whole Time Director
DIN: 05201121 DIN:05201148
Place : Jaipur
Date: 24.08.2019

   

M K Exim (India) Ltd Company Background

Manish Murlidhar Dialani
Incorporation Year1992
Registered OfficeG-1/150 Garment Zone EPIP,Sitapura Tonk Road Sanganer
Jaipur,Rajasthan-302022
Telephone91-141-3937501/3937500,Managing Director
Fax91-141-3937502
Company SecretaryPrakriti Sethi
AuditorRishabh Agarwal & Associates
Face Value10
Market Lot1
ListingBSE,
RegistrarBeetal Fin.&Computer Ser.P Ltd
Beetal House 3rd Flr,Behind Local Shp Cen,Nr Dada Harsukh Das ,New Delhi - 110062

M K Exim (India) Ltd Company Management

Director NameDirector DesignationYear
Prakriti Sethi Company Secretary 2019
Manish Murlidhar Dialani Managing Director 2019
Lajwanti Murlidhar Dialani Director 2019
Vishesh Mahesh Nihalani Independent Director 2019
Laxmikant Ramswaroop Patodia Independent Director 2019
Priya Murlidhar Makhija Addtnl Independent Director 2019
Murli Wadhumal Dialani Additional Director 2019

M K Exim (India) Ltd Listing Information

M K Exim (India) Ltd Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Export Sales NA 00028.83445
Domestic Sales NA 00019.8802
Sale of Services NA 0000.024
Revenue from Operation NA 0000
Job Work Charges NA 0000
Duty Drawback NA 0000
Finished Fabric Mtr0000
Semi Finished Fabric Mtr0000
Electric Items Pcs0000
Silver Utensils Kg 0000
Yarn Kg 0000
Adjustments NA 0000
Exchange Rate Difference NA 0000
Grey Fabric Mtr0000
Readymade Garments Pcs0000
Dress Materials Pcs0000
Chindi Sales Kg 0000
Diamond Cts0000
Gold Jewellery Pcs0000
Handicrafts Pcs0000

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