• SMC open account icon Open an A/C
    • Open an A/C
    • Trading A/c
    • Mutual Fund A/c
    • NBFC A/c
    • NPS A/c
  • SENSEX Nov 30 2021 12:00
    57,064.87 -195.71 (-0.34%)
  • NIFTY Nov 30 2021 12:00
    16,983.20 -70.75 (-0.41%)
  • SENSEX Nov 30 2021 12:00
    57,064.87 -195.71 (-0.34%)
  • NIFTY Nov 30 2021 12:00
    16,983.20 -70.75 (-0.41%)
  • Nasdaq Nov 30 2021 04:30
    15,782.83 +291.17 ( +1.88%)
  • DJIA Nov 30 2021 04:30
    35,135.94 +236.60 ( +0.68%)
  • S&P 500 Nov 30 2021 04:30
    4,655.27 +60.65 ( +1.32%)
  • Hang Seng Nov 30 2021 02:10
    23,475.26 -376.98 (-1.58%)
  • Crude Oil Nov 30 2021 07:48
    5,059.00 -284.00 (-5.32%)
  • Gold Nov 30 2021 07:10
    47,840.00 +253.00 ( +0.53%)
  • Silver Nov 30 2021 07:39
    61,750.00 +110.00 ( +0.18%)
  • Copper Nov 30 2021 04:09
    729.90 -5.35 (-0.73%)
  • Pound / Rupee Dec 23 2016 22:30
    99.73 +0.54 ( +0.54%)
  • Dollar / Rupee Dec 23 2016 22:30
    74.83 +0.41 ( +0.55%)
  • Euro / Rupee Dec 23 2016 22:30
    84.59 +1.15 ( +1.37%)
  • Yen / Rupee Dec 23 2016 22:30
    0.66 +0.01 ( +2.25%)

BSE Code : | NSE Symbol : | ISIN:| SECTOR : |


Volume 280564

Prev. Close

Open Price

Bid Price (QTY)

Offer Price (QTY)


Today’s High/Low -

52 wk High/Low -

Key Stats

P/E 10.47
BOOK VALUE (RS) 107.4381048
DIV (%) 0
EPS (TTM) 20.77
PRICE/BOOK 2.02488679789147

News & Announcements


B & A Packaging India standalone net profit declines 5.08% in the September 2021 quarter


B&A Packaging India to declare Quarterly Result


B & A Packaging India Ltd - Closure of Trading Window


B & A Packaging India Ltd - Shareholder Meeting / Postal Ballot-Outcome of AGM


B&A Packaging India to declare Quarterly Result


B&A Packaging India AGM scheduled


B&A Packaging India to hold board meeting


B&A Packaging India to convene board meeting

Corporate Actions

Capital Structure
Book Closure
Board Meeting


Income Statement


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
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
D.K. Enterprises Global Ltd 535407 DKEGL
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 Hi Tech Films Ltd 500655 GARWARPOLY
Gilt Pack Ltd 507711
Glory Films Ltd 532857 GLORY
Gold Earth Bio-tech Limited 530767
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
HCP Plastene Bulkpack Ltd 526717
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
HSIL Ltd 500187 HSIL
Huhtamaki India Ltd 509820 HUHTAMAKI
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 KANPRPLA
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
Oricon Enterprises Ltd 513121 ORICONENT
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
Rajeshwari Cans Ltd 543285
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
Texel Industries Ltd Partly PaidUp 890155
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 100 0.00
Total Institutions 300000 6.05
Total Govt Holding 0 0.00
Total Non Promoter Corporate Holding 389651 7.86
Total Promoters 3690114 74.39
Total Public & others 580635 11.71
Total 4960500 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About B & A Packaging India Ltd

B & A Packaging India Limited was incorporated in the year January 16th, 1986. The Company is mainly engaged in manufacturing and selling activities of quality Paper-sack and Flexi-pack. The Company is an ongoing company having its manufacturing unit at Balasore (Odisha) and two branches at Jorhat and Mettupalayam.

B & A Packaging India Ltd Chairman Speech

B & A Packaging India Ltd Company History

B & A Packaging India Limited was incorporated in the year January 16th, 1986. The Company is mainly engaged in manufacturing and selling activities of quality Paper-sack and Flexi-pack. The Company is an ongoing company having its manufacturing unit at Balasore (Odisha) and two branches at Jorhat and Mettupalayam.

B & A Packaging India Ltd Directors Reports


Management Discussion and Analysis

Dear Members,

Your Directors have pleasure in presenting the Thirty-fifth Annual Report of B & A Packaging India Ltd (hereinafter referred to as the 'Company') together with the audited financial statements of the company for the year ended 31st March, 2021.


The financial results of the company are summarized below:

(in Rs. Lac)

Particulars Year ended March 31,2021 Year ended March 31,2020
Revenue from Operations 9,691.30 7,569.91
Other Income 194.91 62.53
Total Income 9,886.21 7,632.44
Total Expenditure after adjustment of increase/decrease of stocks 8,020.26 6,395.41
Profit from operations before Depreciation, Finance Cost and Tax 1,865.95 1,237,03
Depreciation 125.88 129.55
Finance Cost 130.70 133.80
Profit before Tax 1,609.37 973.28
Provision for Tax
Current Tax 538.00 271.00
Deferred Tax 19.75 (50.61)
Profit for the year 1051.62 752.89

Net sales for the year under review is higher by Rs. 2121.39 lac over previous year. Profit after tax was higher by Rs. 298.73 lac over previous year. The Earnings per Share (EPS) for the year stood at Rs. 21.20 which is also higher than previous year's level by Rs. 6.02.


Your Company manufactures quality paper sacks and flexible laminates in its two manufacturing divisions located at Balasore, Odisha. The sacks division is successfully serving the packaging needs of sectors like tea, food, agricultural products, pesticides, industrial products etc. The flexible laminates division has made its niche in the sectors like fresh and frozen foods, beverages, pharmaceuticals, snacks and confectioneries, dairy products, to name a few. Over the years the company has continued research work and use of modern technology to improve the quality of its products to meet consumer's requirements. As a result it has established itself as a premium manufacturer of quality sacks and flexible laminates. The Company has sustained its growth in the highly competitive market by offering end-to-end solutions across paper and flexible packaging spectrum. It has rejigged its product portfolio to cater the needs across various industries. The Company has taken a series of modernization programme in its plants which has led to superior product offerings by value added product differentiation. It has also strengthened its distribution channels to execute higher quantum of orders ensuring lead time deliveries across India.

The Company has been accredited with British Retail Consortium (BRC: lop) which is acknowledged as a global benchmark for food safety, for its facilities at Balasore factory besides ISO accreditations. The Company is enlisted as a 'medium sector enterprise' in terms of memorandum issued by Ministry of Micro, Small and Medium Enterprises, Government of India.

Paper Sacks

The paper sacks division recorded gross sales of Rs. 5910.94 lac (previous year Rs.5102.49 lac) and a profit of Rs. 1205.47 lac (previous year Rs. 830.36 lac) during the financial year ended 31st March 2021 as both are higher than the previous financial year. The improved turnover and profitability of the company in this segment was achieved by exploring new geographical markets.

Flexible Laminates

The flexible laminates division recorded gross sales of Rs. 3780.36 lac (previous year Rs. 2467.42 lac) and a profit of Rs. 528.95 lac (previous year Rs. 273.02 lac) during the financial year ended 31st March 2021. The significant increase in the turnover and profitability is due to surge in the demand from food sector particularly in the milk, confectionary and some other consumer durable products.

During the year under review your company was able to maintain overall growth in terms of sales and profitability despite major slowdown in the economy caused by Pandemic, entry of foreign multinationals in the Indian market, fierce competition from the domestic manufacturers, price fluctuations in imported papers and increases in wages and other input costs.


Rigid control was kept over the finances of your company through judicious working capital management and operational efficiencies. Your company focused on controlling borrowings and utilized internal accruals arising out of better cash flows. The Company met its financial commitments in servicing its debt and repayment thereof in timely manner.


Packaging plays a pivotal role in consumers' experience with respect to the brand and the overall purchasing experience. There are four major functions of packaging-containment, protection, communication and utility-that are intended to maximize sales and profits while reducing losses and wastage; and all of them are critical for enhancing consumer experience. Industry reports suggest that Indian Packaging sector is registering a CAGR of 18% during the period of 2016-2021. With steady growth over the past years even after COVID-19 challenge, the Industry is showing firm potential for expansion including in the export market. The rapid growth of the market is primarily driven by the pharmaceuticals and food and beverage industries. Huge investments in the food processing, personal care, and pharmaceuticals end-user industries are creating rapid scope for expansion of the packaging market. This has open possibilities of new entrants which would enhance competition. New jobs are being created in this fast growing sector. In order to further maximize the potential of the packaging sector in India, the Government has been very proactive.

According to the Indian Institute of Packaging (IIP), packaging consumption in India increased 200% in the past decade, from 4.3 kgs per person per annum (PPPA) to 8.6 kgs PPPA. Owing to the rising population, increasing income levels, changing lifestyles, increased media penetration and growing economy, the demand for packaging materials is growing. The rise of the Indian middle class, rapid expansion of organized retail, growth of exports, and India's rising e-commerce sector are further facilitating growth.India has been witnessing a surge in its e- commerce sector over the last 5-6 years. Amid the e-commerce surge, the Indian packaging industry is witnessing steep growth and is one of the strongest growing segments.


Your Company has progressed in years by engaging technical ability and innovative skills to engineer packaging solutions which has resulted increase in its market share. The Company's works houses fully automated machines. Further the Board of Directors of the Company (henceforth 'the Board) leads a team of highly technical and self-motivated professionals. The Company's works also houses well-equipped laboratories with modern and computerized equipment, which are continuously engaged in upgrading the products to cater to the needs of the market. As the packaging industry is increasingly becoming technology oriented with innovations driving the market the efforts of the company has been directed towards increasing shelf life and reducing cost of its products. The Company directs all its efforts to benchmark its products to global standards. Its technical team makes continuous endeavors to adhere to the changing demands of the customers and to satisfy their expectations in a timely, cost-effective and value-added manner. As a result the Company could achieve phenomenal growth in its performance which is evident from the following tables

The growth trends are expected to continue in future; increasing market in the organised retail being the key factor for the sustainable growth.

The Company has undertaken several modernization programs in its works in the past few years. However, its long-term plan to further upgrade its works is delayed due to logistics challenges caused by the Pandemic situation.



The per capita packaging consumption in India in terms of volume is significantly lower at 8.6 kg compared to 109 kg in US and 45 kg in Europe followed by 42 kg in China. Low consumption level indicates the untapped potential in this sector.

The Indian Packaging industry with its present market at US$ 72.6 billion (2020) is becoming a preferred hub for global packaging solutions and it is the 5th largest sector in India's economy. Cost of processing and packaging in India are much less compared to other parts of Asia and Europe which combined with India's skilled human resources make it an attractive destination for investment.

With a growth rate of 18% CAGR during 2016-21 this sector is showing expansion even after facing COVD 19 challenge with rapid growth in the export market. Increasing global trade and India's commitment in WTO by rationalizing tariff and lowering trade barriers have given rise to higher international trade in packaging sector. The share of export packaging was US$ 843.80 million in 201819 witnessing a growth of 14.12 % from the estimated value of US$ 737.40 million previous year. The growth in export is augmented in the sectors like plastic film laminates, craft paper and paper board.

Indigenously the fastest growing packaging segments are laminates and flexible packaging. Consumer preference for the use of convenient packaging and packaged in affordable quantities in laminates is also the main reason that have contributed to the growth of flexible packaging in India. Further ease of printing has made flexible packaging a tool for branding and display of retail goods. Over the last few years Indian Packaging industry has transformed itself as an important sector driving technology and innovation growth in the Country and adding value to the various manufacturing sectors including agriculture and FMGG.

Challenges, Risks and Concerns

The packaging sector faces rapid technological changes to cater the need of consumer goods companies who are constantly lookout for ways to improve and address the demands of its consumers. There will be demand for 3S packaging which mainly covers safety, security and sustainability of packaging. The packaging sector need to focus on developing active packaging specially antivirus packaging in future, no touch packaging, intelligent packaging to track and trace product during the supply chain. All these technological improvements would demand huge capital investments.

Paper, plastic, resins, films, paperboard, and adhesives are some of the common raw materials used by packaging companies. In recent times, these commodities have witnessed a steep rise in their prices both in indigenous market as well as import front.

After the outbreak of Pandemic due to Novel Coronavirus the most developed countries are either burning waste paper or using it for landfill to avoid virus spread. This has resulted in huge shortage of raw material for Indian paper mills.

Further, China being persistently the top import source (25.5% of gross imports) for packaging material for India followed by USA, Germany and Italy, the Indian packaging sector is much dependent on import specially in the paper based high quality packaging.

Finally with upward demand in the market viable growth could be achieved by deploying trained packaging professionals by creating sustainable job opportunities at entry level.

Impact of COVID 19

The packaging sector has been traditionally a consumer-driven industry, The COVID-19 outbreak has resulted a major slowdown in the consumer spending in the short run. There is an imminent threat of loss of employment both in the formal and informal sector. Consumers are likely to curtail discretionary spending in the short run which shall lead to lower investments and reduced growth. However, once the threat of Pandemic recedes and economic activities returns to normalcy, the situation is expected to normalize. The Government has taken a number of steps to revive the economic growth. These factors coupled the fundamental strength of the economy will boost consumption to its potential both in rural and urban markets. Hence, the outlook for the packaging sector appears quite robust over the coming years.


Your Directors have formulated Risk Management Policy and appointed a Risk Cell comprising of executives from senior management team. All potential and material risks faced by the company with regards to its packaging business are identified and assessed on continuous basis by the Risk Cell. For each area of the risks identified, necessary controls are exercised and procedures are put in place for monitoring, mitigating all such risks and reporting the same to Audit Committee on periodic basis. The Risk Management Policy and the constitution of risk cell are available in the company's website at

Outbreak of COVID 19 has put unprecedented challenge before the risk structure of the companies across the globe in the key compliance areas like, corporate governance, statutory compliances and disclosures, workplace health and safety, employment and continuity, data privacy, supply chain and working capital. The pandemic is causing huge loss of business due to trade restrictions, additional cost of operations due to unproductive employment, maintaining workplace health and safety and additional data privacy and security. The crisis has forced the organizations to converse risks in new directions because of the worst case scenario which no one could ever predict but actually happened.

During first wave of the pandemic the company has responded to the crisis by developing rapid action plans to potential worst case scenarios. So whether it's a supply chain or cyber or financial event, scenario planning was developed to create response plans with remote cross functional teams that eventually helped the management to respond to the crisis.

Your Directors feel that with the second wave of COVID-19 in heels, creating response plans for critical areas to be affected and to do dry runs with cross functional teams would be ideal risk management during pandemic.


Details of significant changes in key financial ratios as on 31st March 2021 compared to previous financial year are enclosed as Annexure - A.


The Board has not recommended any dividend out of the profits for the financial year ended 31st March 2021.


The Company had no outstanding deposit as on 31st March 2021.


The Board does not propose any amount to be transferred to any reserve.


As on 31st March 2021, the Directorate of the company consists of five directors, three of them are independent. Mrs. Anuradha Farley has been appointed Chairman of the Board. The composition of the directorate is in conformity with the provisions of the Companies Act' 2013 (hereinafter the Act') allied rules and regulations and Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 [hereinafter SEBI (LODR)]. The particulars of the directorate and the key managerial personnel are given under Part I of the Corporate Governance Report which forms part of this Annual Report.

By virtue of section 152 of the Act' Mrs. Anuradha Farley, Director retires by rotation at the forthcoming Annual General Meeting (AGM) and being eligible offers herself for re-appointment.

During the year under review, The Board of Directors of the Company appointed Mr. Somnath Chatterjee (erstwhile Whole Time Director) as Managing Director of the company with effect from 12th November 2020 for a period of 3 (three) years. The terms and conditions of appointment of Mr. Chatterjee including remuneration payable to him are subject to the approval of the Members in the ensuing Annual General Meeting.

A brief resume, expertise and shareholding in your company together with details of other directorships of Mrs. Anuradha Farley and Mr. Somnath Chatterjee are given in the Corporate Governance Section of the Annual Report.

None of the Directors on the Board as on 31st March 2021 has been debarred or disqualified from being appointed or continuing as Directors by Ministry of Corporate Affairs, Government of India or Securities and Exchange Board of India or any such Statutory Authority of India. A certificate in this regard from a Practicing Company Secretary is enclosed as Annexure - B and forms part of this report.


Mr. Somnath Chatterjee, Managing Director, Mr. D. Chowdhury, Company Secretary and Mr. G. Mukhopadhyay, Chief Financial Officer, hold the position of key managerial personnel in terms of section 203 of the Act'.


All Independent Directors have given declaration to the company certifying their independency in terms of section 149(6) of the Act, and the same were placed and noted by the directors present in the meeting of the Board held on 25th June 2021.


In terms of section 134 (3) of the Act' read with SEBI (LODR), the company had laid down the criteria for reviewing the performance of its Board of Directors, Committees of the Board and individual Directors. The evaluation process of Directors inter alia considers attendance of the Directors at Board and Committee meetings, acquaintance with business, communicating inter se board members, effective participation in meetings, domain knowledge, and compliance with code of conduct, vision and strategy.

The evaluation process and criteria for evaluating the performance of the Directors are available in detail in the website of the company at the following web-link remuneration-policy.pdf.

The Board evaluated its own annual performance including that of its Committees in the meeting of the Board of Directors held on 25th June 2021. The Board in the same meeting evaluated performance of the individual Directors on the basis of recommendations made by the respective Committees.


The particulars of the meetings of the Board of Directors held during the financial year ended 31st March 2021 have been furnished under para (ii) of section I of the Corporate Governance Report forming part of the Annual Report.


In terms of section 149 of the Act' read with schedule IV of the Act', a separate meeting of the Independent Directors of the Company was held on 10th February, 2021.


The Board had constituted 'Audit Committee', 'Nomination and Remuneration Committee', Share Transfer Committee and 'Stakeholders Relationship Committee' of Directors in terms of respective provisions of the Act' and SEBI (LODR). The Board in its meeting held on 25th June 2021 dissolved 'Corporate Social Responsibility Committee' with effect from conclusion of the said meeting.

The constitution, terms of references and policies of these committees have been discussed in detail in the Corporate Governance section of the Annual Report. There were no instances where the Board did not accept the recommendations of the Audit Committee.


The Board of Directors in compliance with the provisions of section 178 (3) of the Act, on recommendation made by the Nomination and Remuneration Committee of Directors formulated the Nomination and Remuneration Policy of the company. The said policy is available at the website of the company at the following web-link

The information required pursuant to section 197 of the Act' read with rule 5 of the Companies (Appointment & Remuneration) Rules 2014 in respect of employees of the company will be provided upon request. In terms of section 136 of the Act' the Directors report and financial statements are being sent to Members and others excluding the information on employee's particulars which are available on electronic inspection by the Members of the company upto the date of the AGM. Any Member interested obtaining a copy may write to the company. Further we confirm that there was no employee employed throughout the financial year or part thereof, who was in aggregate is in excess of that drawn by the Managing Director of the company and holds himself or alongwith his spouse and dependent children not less than two percent of the equity shares in the company.

Disclosure in terms of section 197 of the Act' read with rule 5(1) of the Companies (Appointment & Remuneration) Rules 2014 regarding remuneration paid to Directors and Key Managerial Personnel for the financial year ended 31st March 2021 is given para 2(f) of Section II in the Corporate Governance Section of the Annual Report.


As required under section 134(5) of the Act', your Directors state that:

a. In the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;

b. They 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, 2021 and of the profit of the company for the financial year ended 31st March 2021;

c. They had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

d. They had prepared the annual accounts on a going concern basis;

e. They had laid down internal financial controls to be followed by the Company and that such internal financial controls were adequate and were operating effectively.

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


The Company has an Internal Control System commensurate with the size, scale and complexity of its operations. The internal financial controls are adequate and are operating effectively so as to ensure orderly and efficient conduct of the business operations. The Statutory Auditors have also given an unmodified opinion on the internal financial controls on the financial reporting process in their report.


During the year under review the Company has maintained adequate cost accounts and records as specified under Section 148(1) of the Act' with respect to flexible packaging business .


M/s. Ghosal, Basu & Ray, Chartered Accountants, Kolkata (FRN 315080E) were appointed as Statutory Auditors of the Company for a term of five years, in the Annual General Meeting held on 7th September 2017.

The report given by the Statutory Auditors on the financial statements of the company for the financial year ended 31st March 2021 forms part of the Annual Report. There was no qualification, reservation, adverse remark or disclaimer in the report.


Pursuant to section 204 of the Act' and Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, read with Regulation 24A of SEBI (LoDr) the Secretarial Audit of the Company for the financial year 2020-21 was conducted by M/s. T Chatterjee & Associates, Company Secretaries (FRN P2007WB067100). The Secretarial Audit Report is attached with the Board' Report as Annexure - C. There was no qualification, reservation, adverse remark or disclaimer in the report.

Necessary clarification to the observations made by the Secretarial Auditors in their report has been furnished in clause (c) Section V the Corporate Governance Report which is the part of the Director's report.

None of the Auditors of the Company has reported any fraud as specified under the second proviso of Section 143 (12) of the Act.


In terms of SEBI (LODR) a certificate from a Practicing Company Secretary on compliance of Corporate Governance Norms is attached with the Directors report as Annexure-D and forms part of Annual Report.


A Policy on related party has been devised by the Board of Directors which is in conformity with regulation 23 of SEBI (LODR) for determining the materiality of transactions with related parties and strategy for dealing with the same. The said policy is available at the website of the company at the following web-link

In terms of section 134 of the Act' read with rule 8(2) of the Companies (Accounts) Rules 2014 particulars of contracts/ arrangements entered into by the company during the year under review in Form AOC- 2 is attached as Annexure-E and forms part of the Director's Report.


The Corporate Social Responsibility (CSR) Policy formulated by the company and amended from time to time is available at the website of the company at The policy encompasses the philosophy of the company for delineating its responsibility as a corporate citizen and lays down the guideline and mechanism for undertaking socially useful programs for welfare of the community at large and for under privileged community in the area of its operation in particular.

In terms of Companies (Amendment) Act' 2020 which stipulates that where the amount of fund that needs to be spent by a company in its CSR activities in any financial year does not exceed Rs. 50 lac; the requirement for constitution of the CSR Committee shall not be applicable and functions of such Committee shall in such cases be discharged by the Board of the said Company, the Board in its meeting held on 25th June 2021 dissolved 'Corporate Social Responsibility Committee' with effect from conclusion of the said meeting. Henceforth all functions of the CSR Committee as provided under section 135 of the Act will be discharged by the Board.

The constitution of the erstwhile CSR Committee and particulars of meetings of the Committee held during the year are disclosed in the Corporate Governance section of the Annual Report.

The Annual Report on CSR activities as prescribed under rule 9 of the Companies (Accounts) Rules 2014 read with rule 8 of the Companies (Corporate Social Responsibility Policy) Rules 2014 is attached as Annexure - F and forms part of the Director's Report.


The information relating to conservation of energy, technology absorption and foreign exchange earnings and outgo as envisaged in section 134 (3) of the Act' read with Companies (Accounts) Rules, 2014 is attached as Annexure - G and forms part of this report.


Pursuant to section 92(3) of Act' read with rule 12 (1) of the Companies (Management and Administration) Rules 2014 extract of Annual Return of the company for the financial year ended 31st March 2021 is attached with Board's Report as Annexure - H.

Annual Return of the Company for the financial year ended 31st March 2020 is available at the website of the company at the following web-link 7-for-the-financial-year-2019-20.pdf.


In terms of section 177 (10) of the Act' read with regulation 22 of the SEBI (LoDR) your Directors have adopted a Vigil Mechanism/Whistle Blower Policy to report and deal with genuine concern raised by a whistle blower. The said policy has been posted on the website of the company and is available at During the year under review no complaint has been reported under the policy.


The Company is in a comfortable liquidity position due to adequate banking limits in place. The strong Balance Sheet of the company is expected to be a key differentiator in the market place. Even before COVID-19 the company embarked upon initiatives to bring down costs and conserve cash and the company is expected to get benefits as a consequence of these initiatives in future. Although the operating Cash Flow was temporarily affected during the lockdown period, with lifting of the lockdown normalcy has returned. The Company doesn't see incremental risk of recoverability of Assets (inventory, receivable etc.) taking into account the measures being taken to mitigate the risk. There is also no impact on internal financial controls due to the COVID-19 situation. The Company is well positioned to fulfill its obligation and also does not foresee any significant impact on the business due to nonfulfillment of the obligations by any party in the future.

However, any further trade restrictions imposed by the Government to curb the Pandemic will hamper the normal cycle of operations which might affect the operating cash flows impact of which is hard to predict at this stage.

There were no material changes and commitments affecting the financial position of the company, between the end of the financial year i.e. 31st March 2021 and the date of this report.


The Company employed around 141 individuals as permanent employees across its factory and offices who share a passion for excellence. The key attributes that excelled their performance are knowledge base, expertise and experience. The Employee Relations remained harmonious throughout the year and your Directors wishes to convey their gratitude and place on record their appreciation for all executives, staff and workers at all levels for their hard work, solidarity, cooperation and dedication during the year.


Your Directors state that during the year under review:

a. The Company complied with Secretarial Standards issued by the Institute of Company Secretaries of India on Board and General Meetings.

b. The Company made no scheme or provision of money for the purchase of its own shares by employees/ Directors or by trustees for the benefit of employees/Directors.

c. The Company did not give any loan or provided any guarantee or made any investments which were covered under section 186 of the Act'.

d. The Company did not issue any equity shares with differential rights as to dividend, voting or otherwise; and

e. There was no change in the share capital or nature of business of the Company.

f. There were no significant or material orders passed by the Regulators or Courts or Tribunals which would have impacted the going concern status of the company's business.



B & A Packaging India Ltd Company Background

Anuradha Farley
Incorporation Year1986
Registered Office22 Balgopalpur Indl Area,
Telephone91-6782-275725,Managing Director
Company SecretaryD Choudhury
AuditorGhosal Basu & Ray
Face Value10
Market Lot1
RegistrarMCS Share Transfer Agent Ltd
12/1/5 Manoharpukar,Road Ground Floor, ,Kolkata-700026

B & A Packaging India Ltd Company Management

Director NameDirector DesignationYear
Anjan Ghosh Non-Exec. & Independent Dir. 2020
Somnath Chatterjee Whole-time Director 2020
Amit Chowdhuri Non-Exec. & Independent Dir. 2020
Anuradha Farley Chairman (Non-Executive) 2020
D Choudhury Company Secretary 2020
Basant Kumar Goswami Non-Exec. & Independent Dir. 2020

B & A Packaging India Ltd Listing Information

B & A Packaging India Ltd Finished Product

Product NameUnit Installed
Paper Sacks No 00050.6058
Laminates NA 00020.6416
Sale of Scrap NA 0000.4328
Excise Duty NA 0000
Sale of Products NA 0000

Contact us Contact us