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T T Ltd

BSE Code : 514142 | NSE Symbol : TTL | ISIN:INE592B01016| SECTOR : Textiles |

NSE BSE
 
SMC up arrow

39.25

1.25 (3.29%) Volume 280564

30-Oct-2020 EOD

Prev. Close

38.00

Open Price

38.00

Bid Price (QTY)

0.00(0)

Offer Price (QTY)

0.00(0)

 

Today’s High/Low 41.05 - 38.00

52 wk High/Low 49.00 - 24.00

Key Stats

MARKET CAP (RS CR) 84.6
P/E 0
BOOK VALUE (RS) 34.5966047
DIV (%) 0
MARKET LOT 1
EPS (TTM) 0
PRICE/BOOK 1.13739484961656
DIV YIELD.(%) 0
FACE VALUE (RS) 10
DELIVERABLES (%) 70.1
4

News & Announcements

26-Oct-2020

T T Ltd - T T Limited - Other General Purpose

23-Oct-2020

T T Ltd - Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

23-Oct-2020

T T Ltd - Compliance Certificate Certifying Maintaining Physical & Electronic Transfer Facility Under Regulation 7 (3) Of SEBI Listing Regulation. 2015 (LODR) For The Half Year Ended 30Th September 2020

21-Oct-2020

T T Ltd - Statement Of Investor Complaints For The Quarter Ended September 2020

19-Oct-2020

TT schedules board meeting

04-Sep-2020

TT to conduct board meeting

12-Jun-2020

TT to conduct AGM

03-Jun-2020

TT to declare Quarterly Result

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
M K Exim (India) Ltd 538890
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
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 700 0.00
Total Govt Holding 0 0.00
Total Non Promoter Corporate Holding 0 0.00
Total Promoters 12436679 57.85
Total Public & others 9060671 42.15
Total 21498050 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About T T Ltd

Tirupati Texknit, now renamed TT Ltd (TTL), promoted by R C Jain and incorporated as a public limited company in Sep.'78, has facilities to manufacture knitted cloth at Ghaziabad, UP. In addition, the company is engaged in the marketing of a range of hosiery products under the well-established TT brand name. It has acquired exclusive rights to use it from the owner of the trade mark under a royalty agreement dated 1 Apr.'89. The company, since Apr.'89, has production arrangements with about 50 franchised hosiery production units in Delhi, Calcutta, UP, MP and Tamilnadu to produce goods exclusively for and according to specifications and quality standards laid down by the company. TTL went public with its maiden issue in Jan.'90 to meet the financial requirements of its franchise units and to meet working capital requirements. In Feb.'93, TTL came out with a public issue to part-finance the backward integration programme of setting up a Rs 21.05-cr 12,500-spindle 100% export-oriented spinning unit to manufacture cotton yarn at Gajraula, UP. TTL has a dealer network of 1500 wholesalers throughout India. During 1996-97, had earned the status of Registered Export House. In 1999-2000, the company's mill at Avanashi, in Coimbatore District obtained ISO 9002 Quality Certificate. The company has initiated the Technology Upgradation Programme to replace all the spindles at Gajroula Mill Plant.The proposal had been submitted to Financial Institutions for the approval.

T T Ltd Chairman Speech

In one word Business Philosophy of T T Group is "FAIR BUSINESS", – Fair to all: Suppliers, Buyers, Dealers, Workers, Shareholders, Investors, Community and the Society at large.

Sources for drawing inspiration in founding basic principles of T T Group’s business are found in Philosophies propounded by three great Saints, Philosophers and Mahatmas belonging to the Textile World: The Most reverend Spinner in the World History known to mankind till date, Mahatma Gandhi, father of the nation; symbol of religious harmony and great humanist "Kabir" the weaver and the great Tamil Saint, Poet and Philosopher weaver: Thiru Valuvar. Thirukural the great epic book of wisdom serves us as a reference book for seeking day to day solutions of business problems. All the three guiding lights of humanity are nowhere in variance with Jainism, Hinduism, Buddhism or infact any religion.

In dealing with people we follow Vidur and Chanakya.

In business management techniques of modern day obviously we rely on my learnings as well as teachings at Indian Institute of Management, Calcutta / M.I.T. Our Managing Director Mr. Sanjay Jain has his sources in his studies at the Indian Institute of Management, Ahmedabad / Harvard Business School.

Regarding the choice of Technology to be used, we do not compromise. It is always the best of the world, "State of the Art" technology. We do quick updating and remain in tune with the latest innovations. Our source of strength in the field is renowned Textile Technologist - Dr. V. K. Kothari, formerly heading Textile Dept. of world’s prestigious seat of learning, Indian Institute of Technology, (IIT) Delhi.

As for consumers, we wish to deliver them more than value for their money. We are here to serve them. We are because of them. We wish them to enjoy new recipies, new delights in their satisfaction. We do not follow trends, instead we set trends. Mrs. Jyoti Jain, a National Institute of Fashion Technology (NIFT) graduate is always at hand to deal with them liberally. All her dealers, agents and customers are more than happy with her.

Renowned Management and Finance Experts Shri Navratan Dugar and Shri V R Mehta are our leading rule setters in the realm of Finance & accounting and corporate governance. In Finance, Manufacturing, Law, Corporate governance we have a dedicated team of Executives, Engineers, Company Secretaries, Chartered Accountants, Human Engineers (HRD) to deliver fruits and achieve corporate goals. Your two new directors are highly recognised corporate management experts Shri Mahesh Mehta is an outstanding Chartered Accountant and Shri Sunil Mahnot is a company secretary and corporate manager.

Today Textile Industry is a "Focus Industry" in India. It is once again a Sun Rise Industry. Textile Manufacturing is shifting from America & Europe to Asia – China, India, Bangladesh, Pakistan, Turkey etc. Timely cotton revolution in India has made India’s position unique in competitive edge in world trading of cotton and its products- Yarn, Fabric, Textiles, Knitwear Garments and Home Textiles. T T group is essentially an only "Cotton" company. It handles Cotton, Cotton yarn, Cotton fabrics and Cotton garments. Realising the global potential T T is already on the world Cotton scene and is ready to play world cup in Cotton. We wish to enjoy fruits of Cotton. We wish to ensure no one remains devoid of Cotton Garments and that too with assurance to satisfaction to one’s heart’s content.

Our Company’s policy is not to speculate, not to gamble, not to undertake high risk deals. Slow but steady growth is our motto. Our Company does not interfere with free play of share & securities market.

Business Philosophy

1. Management's job is not only to manage company profitably but to ensure its steady growth as well.

2. Quick decision making, speedy implementation, harmonized, teamwork, deliver success.

3. Our objective is to serve Customers to their satisfaction. We strive to enable them taste new delights in quality and service. We make them break their own parameters of satisfaction.

4. Investors are owners of the company. Safeguarding their interest is the prime duty of the management.

5. What is the best today, will not be so tomorrow and will be definitely rejected day after. Hence continuous quality upgradation can only retain customers.

6. Let none be harmed by our dealings with them. We need not make money out of their weaknesses. Instead let buyer and seller both mutually help each other make profit.

7. Knowledge input is the best quotient of profit. For future growth, knowledge sourcing and knowledge management is the first requirement.

8. Ways of the world never remain the same. Keep changing and you never live out.

9. Wisdom attracts money, lack of it may cause loss of money.

10. Indians have now realised their potentials in the global scenario. Every crown there is for them, but only if they try.

11. India traditionally ranks first in the world of nations in respect of the wealth of knowledge. Putting this wealth into action will certainly yield rich monetary rewards as well.

12. We do not compete, we try to co-exist. Cooperation is our motto.

13. Big fish eats up small fishes and yet the ocean is always full of small fishes.

14. No one can drink all the waters of seven oceans, so none can monopolise for ever.

15. Purity of means is more important than the ends. Come what may, great souls will never pick up means not ordained by ethics, morality and one's religion.

16. You earn money, you may loose it anytime, but if you tend to earn goodwill and integrity, money will never leave you.

Dr. Rikhab C. Jain,

(Chairman )

   

T T Ltd Company History

Tirupati Texknit, now renamed TT Ltd (TTL), promoted by R C Jain and incorporated as a public limited company in Sep.'78, has facilities to manufacture knitted cloth at Ghaziabad, UP. In addition, the company is engaged in the marketing of a range of hosiery products under the well-established TT brand name. It has acquired exclusive rights to use it from the owner of the trade mark under a royalty agreement dated 1 Apr.'89. The company, since Apr.'89, has production arrangements with about 50 franchised hosiery production units in Delhi, Calcutta, UP, MP and Tamilnadu to produce goods exclusively for and according to specifications and quality standards laid down by the company. TTL went public with its maiden issue in Jan.'90 to meet the financial requirements of its franchise units and to meet working capital requirements. In Feb.'93, TTL came out with a public issue to part-finance the backward integration programme of setting up a Rs 21.05-cr 12,500-spindle 100% export-oriented spinning unit to manufacture cotton yarn at Gajraula, UP. TTL has a dealer network of 1500 wholesalers throughout India. During 1996-97, had earned the status of Registered Export House. In 1999-2000, the company's mill at Avanashi, in Coimbatore District obtained ISO 9002 Quality Certificate. The company has initiated the Technology Upgradation Programme to replace all the spindles at Gajroula Mill Plant.The proposal had been submitted to Financial Institutions for the approval.

T T Ltd Directors Reports

    Your Directors have pleasure in presenting the 41st (Forty First) Annual Report of the Company together with the Audited Accounts for the year ended March 31,2020.

1. FINANCIAL RESULTS

2019-20 2018-19
(Rs. In Lakh) (Rs. In Lakh)
Revenue from operations (Net) 42303.96 52437.19
Other Income 197.27 368.10
Profit before interest, Depreciation and Tax 3688.74 4048.71
Interest &Financial Charges 3314.09 2964.34
Depreciation 1086.17 1071.37
Profit / Loss before Tax (PBT) (711.52) 13.00
Provision for Income Tax / Deferred Tax (Net) (584.50) (3.17)
Profit / Loss after Tax (PAT) (126.19) 16.17
Other comprehensive Income (72.55) (106.49)
Total comprehensive Income for the period (198.74) (90.32)

2. DIVIDEND

No Dividend recommended by the Board for the year under review.

3. REVIEW OF OPERATIONS

The complete year was overshadowed globally by the China - USA trade war leading to uncertainty and slow business, and domestically by the poor demand off take due to very low GDP growth rate and strained liquidity. It was a really challenging year and ended off even worse with the last 10 days bringing everything to a complete halt due to Lockdown announced by the Government of India to curb spread of COVID Pandemic.

The Company suffered a lot during the year as cotton prices spiked up due to shortage of cotton and the country ended up importing an all time high cotton of 30 lac bales plus. The situation was aggravated as CCI held 10 lac bales and did not sell the same in cotton year 2018-19 at market prices. This coupled with very poor demand globally for cotton yarn lead to a steep fall in revenue and also losses. The rise in input cost resulted in reduced margins.

A good monsoon, and better cotton crop improved things in the second half however the setback of COVID 19 lead to global demand slowing in Q4 due to China closing down followed by Europe.

The struggle continues, as the Company settled down post its restructuring of reducing spinning assets and building garment capacities. The same had started stabilizing and the Company started building its garment exports and could generate the export sales of Rs. 15.90 Crores and was hopeful on building upon it in 2020-21.

The Company closed the year with reduced revenue of Rs. 423.04 Crores and losses after tax of Rs. 1.27Crores. The upswing seen was cut short due to COVD 19 from January end as export to China and some other countries was affected due to it, otherwise it was hopeful of recouping its first half losses in the second half.

A positive side was the Company reworking its ecommerce business and relaunching the same. In just 3 months the Company saw good traction and is hopeful that this segment would hold it in good stead in the coming year.

4. FUTURE OUTLOOK

We enter the year in a Lockdown position with everything stalled. However the Company was able to start its Gujarat units on April 20th, its Gajroula garment unit with PPE production from April 14th and its Avinashi unit from May 6th. By end May, Gujarat unit reached 90% capacity, while Avinashi and Gajroula were at 50% capacity. It reacted quickly to the COVID situation and within the lockdown period in 3 weeks developed masks, coveralls and other protective clothing to fight COVID.

Conditions are going to be tough in the coming year; however the Company has worked on a war footing on reconfiguring its plans and will be focussing on:

• PPE development and sales

• Online sales through ttbazaar.com and prominent marketplaces

• Focus on rural and semi urban markets with its value for money basic range, as the same is expected to see no major fall in demand in 2020-21 post May.

• Cutting costs at every level and run the Company very tightly.

The Company sees production to be a major challenge in 2020-21 first half and hence it has started working extra hard to ensure availability of labour. During lockdown full care was taken of all in-house labour and a caring relation was established.

The Company has seen good response to its casual wear range under brand name “HiFlyers”.

The Company Exclusive Brand Outlet (EBO) chains by the name of “T T BAZAAR” has also helped build direct connect with the consumer. 50 plus TT Bazaar franchisee stores are running and many more are in the pipeline.

Despite the problems and issues of COVID 19, the post lockdown traction and demand for our products has given us a lot of hope and optimism of achieving new heights and taking the brand and company to new levels. We are more focused on the value added segment and domestic sales which will de-risk the business and bring in more stability to turnover and margins. We are confident of growing our brand in the garment segment and gaining market share in the years to come. We expect turnover to return to last year levels by end of Quarter 2 that's seems feasible considering the expected good monsoons and various Government policies to boost demand & liquidity in the market.

We have gone through a bad phase, but luckily have emerged stronger and slimmer, which will hold us in good stead in the days to come.

5. MANAGEMENT DISCUSSION AND ANALYSIS

Management discussion and Analysis Report for the year under review, as stipulated under Regulation 34 of the Listing Agreement, 2015 is presented as a separate section forming part of this report.

6. CORPORATE GOVERNANCE

The Company is committed to maintain the highest standards of Corporate Governance and adhere to the Corporate Governance requirements set out by SEBI.

A separate report on Corporate Governance along with Auditor's Certificate on its compliance is annexed to this report. (Annexure E)

7. DIRECTORS AND KEY MANAGERIAL PERSONNEL

Sh. Sunil Mahnot (holding DIN No. 06819974) retires by rotation at the ensuing Annual General Meeting and being eligible offer himself for reappointment.

During the year Ms. Neha Lakhera resigned from the post of the Company Secretary and in her place Mr. Sanjay Kumar Sharma has been appointed as the Company Secretary and compliance officer of the Company.

All Independent Directors have given declarations that they meet the criteria of independence as laid down under section 149 (6) of the Companies Act, 2013 and Regulation of the Listing Agreement.

8. KEY MANAGERIAL PERSONNEL

Following are the Key Managerial personnel of the Company:-

Mr. Sanjay Kumar Jain Managing Director
Mr. Sunil Mahnot Director (Finance)& Chief Financial Officer
Mr. Sanjay Kumar Sharma Company Secretary

9. PARTICULARS OF REMUNERATION OF DIRECTORS AND KMPs

A statement containing the details of the Remuneration of Directors and KMPs as required under Section 197(12) of the Companies Act, 2013 read with Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel Rules, 2014) is mentioned in Corporate Governance Report.

10. POLICY ON REMUNERATION OF DIRECTORS, KMPs SENIOR MANAGEMENT

PERSONNEL AND OTHER EMPLOYEES INCLUDING CRITERION'S AS DETERMINED BY NOMINATION AND REMUNERATION COMMITTEE

The remuneration paid to Directors is in accordance with the Nomination and Remuneration Policy of the Company formulated in accordance with Section 178 of Companies Act, 2013 read with Regulation 19 of SEBI Listing Regulations (including any statutory modification(s) or re-enactment(s) for the time being in force.

Nomination and Remuneration Committee has formulated the criteria for determining the qualifications, positive attributes and independence of directors in accordance with Section 178 of Companies Act 2013 and recommended the same to the Board.

The Nomination and Remuneration Policy may be accessed on the Company's website at the link http://www.ttlimited.co.in/ investor/company-policies/

11. BOARD OF DIRECTORS MEETING

During the year four Board Meetings and four Audit Committee Meetings were convened and held. The details of which are given in the Corporate Governance Report. The intervening gap between the Meetings was within the period prescribed under the Companies Act, 2013.

12. DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 134 (5) of the Companies Act, 2013, your Directors report as under:

a) That in the preparation of the annual accounts, the applicable accounting standards have been followed.

b) That the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit or loss of the company for that period.

c) That the directors have 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) That the Directors have prepared the annual accounts on a going concern basis.

e) That the Directors had laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and operating effectively.

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.

g) No fraud has been reported by the auditors under Section 143(12) of Companies Act 2013 for the F.Y 2019-20.

13. EVALUATION OF BOARD AND COMMITTEES AND DIRECTORS PERFORMANCE

Pursuant to the provisions of the Company's Act. 2013 and Regulation 17(10) of the Listing Agreement, 2015, the Board has carried out an evaluation of its own performance , the performance of the directors individually and it's committees for the financial year 2019-20 in the meeting held on 10th June, 2020.

Your Directors feel pleasure in informing the members that the performance of the Board as a whole and its member individually was adjudged satisfactory. Company framed policy and criteria for evaluation of Executive Directors, Chairperson, and Independent Directors and have also devised criteria on Board of Directors as whole and individual Committee of the board.

14. CODE OF CONDUCT

The Board of Directors has approved a Code of Conduct which is applicable to the Members of the Board and all employees in the course of day to day business operations of the Company. The Company believes in “Zero Tolerance” against bribery, corruption and unethical dealings / behavior of any form and the Board has laid down the directives to counter such acts. The code laid down by the Board is known as “code of business conduct” which forms an Appendix to the Code. The Code has been posted on the Company's website www.ttlimited.co.in

15. AUDIT COMMITTEE DISCLOSURES

A. Composition

Due to the Changes in the Composition of the Board of Directors of the Company, the Composition of the Committee has also been changed.

Shri M.C Mehta has been appointed as the Chairman of the Audit Committee, further Sh. V. R. Mehta, Independent Director, Dr. (Prof.) V. K. Kothari, Independent Director, Shri Ankit Gulgulia, Independent Director and Shri Sanjay Kumar Jain, Managing Director are appointed as members of the Committee.

Mr. Sanjay Kumar Sharma is Secretary of the Committee. All the recommendations made by the Audit committee were accepted by the Board.

B. Vigil Mechanism / Whistle Blower Policy

The Vigil Mechanism of the Company, which also incorporates a Whistle Blower Policy in terms of the Listing Agreement aims to provide a channel to the employees and Directors to report to the management concerns about unethical behavior, actual or suspected fraud or violation of the Codes of conduct or policy. The mechanism provides for adequate safeguards against victimization of employees and Directors to avail of the mechanism and also provide for direct access to the Chairman / Chairman of the Audit Committee in exceptional cases.

The policy of Vigil Mechanism and Whistle Blower Policy as approved by the Board may be accessed on the Company's website at the link: http://www.ttlimited.co.in/investor/companypolicies

16. PREVENTION OF INSIDER TRADING

The Company has adopted a Code of Conduct for Prevention of Insider Trading with a view to regulate trading in securities by the Directors and designated employees of the Company. The code of conduct shall stipulate such formats as the board of directors deems necessary for making applications for pre-clearance, reporting of trades executed, reporting of decisions not to trade after securing pre-clearance, recording of reasons for such decisions and for reporting level of holdings in securities at such intervals as may be determined as being necessary to monitor compliance with these regulations. The Board is responsible for implementation of the Code.

All Board of Directors and the designated employees have confirmed compliance with the code.

Further the Board of Directors of the Company has adopted revised Code of practices & procedures for fair disclosure of unpublished price sensitive information, in compliance with the SEBI (Prohibition of Insider Trading) (Amendment) Regulations, 2018.

17. CORPORATE SOCIAL RESPONSIBILITY

As part of its initiatives under “corporate social responsibility” (CSR), the Company contributes funds for the schemes of eradicating hunger and poverty, promotion of education and medical aid. The contributions in this regard is made to the registered trust which is undertaking these schemes.

The Annual Report on CSR activities is annexed herewith as: Annexure B.

18. RISK MANAGEMENT

The Company has a well defined risk management framework in place. Further, it has established procedures to periodically place before the Board, the risk assessment and management measures. As such, there are no risks which in the opinion of the Board threaten the existence of the Company.

The Board of Directors in their meeting held on 11th November, 2015 had constituted Risk Management Committee of the Company. The committee has formulated Risk Management Policy of the Company which has been later on amended on 13thDecember, 2017 and subsequently approved by the Board of Directors of the Company.

The Risk Management Policy may be accessed on the Company's website at the link http://www.ttlimited.co.in /investor/ company policies.

19. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

The Company has an Internal Control System, commensurate with the size, scale and complexity of its operations. The internal Audit functions reports to the Chairman of the Audit Committee and to Chairman and Managing Director of the Company.

The Internal Audit monitors and evaluates the efficiency and adequacy of internal control systems in the company. It's compliances with operating systems, accounting procedure and policies at all locations of the Company.

20. TRANSFER OF DIVIDEND AND SHARES TO INVESTORS EDUCATION ANDPROTECTION FUND (IEPF)

The company did not pay any dividend for the FY 2011-12 and hence was not liable to transfer any shares or unpaid dividend for that year to the IEPF Account during the year under review.

21. INTERNAL FINANCIAL CONTROLS

The Company has in place adequate internal financial controls with reference to financial statements. During the year, such controls were tested and no reportable material weakness in the design or operation was observed.

22. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENT

The Company has not given any loan or guarantees covered under the provisions of section 186 of the Companies Act, 2013.

23. EXTRACT OF ANNUAL RETURN AS ON THE FINANCIAL YEAR ENDED ON 31—MARCH. 2020

In accordance with the provisions of Sections 92 and 134(3) (a) of the Act read with the Companies (Management and Administration) Rules, 2014, the extract of the Annual Return in Form No. MGT - 9, is annexed herewith as Annexure-D to this report.

Extract of Annual Return may be accessed on the Company's website at the link: -http://www.ttlimited.co.in/investor/results- report.

24. CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

Energy Conservation continues to be an area of major emphasis in our Company. Efforts made to optimize the energy cost while carrying out manufacturing operations.

The information required to be furnished under section 134 (3)(m) of the Companies Act, 2013 read with the Companies

(Disclosure of particulars in the Report of the Board of Directors) Rules, 2014 relating to Conservation of Energy, Technology absorption and Foreign Exchange earnings and outgo is annexed as Annexure “ A” herewith and forming part of this report.

25. RELATED PARTIES TRANSACTIONS

All contracts/arrangements/transactions entered into by the Company during the financial year with related parties were in the ordinary course of business and on an 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 provisions of Regulation 23 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Accordingly, the disclosure of Related Party Transactions as required under Section 134(3) (h) of the Companies Act, 2013 in Form AOC-2 is not applicable.

The Policy on dealing with related party transactions as approved by the Board may be accessed on the Company's website at the link: http://www.ttlimited.co.in/investor/company-policies/

Your Directors draw attention of the members to Note 33.1 of the standalone financial statement which sets out related party disclosures.

26. AUDITORS AND AUDITORS' REPORTS:

a. Statutory Auditor:

At the Annual General Meeting held on 13thSeptember, 2017, M/s R S Modi & Co., New Delhi were appointed as Statutory Auditors of the Company to hold the office till the conclusion of 43rdAnnual General Meeting of the Company. In terms of the provisions of amended Section 139(1) of the Companies Act 2013, the appointment of statutory auditors shall not require ratification at every Annual General Meeting.

Further, Statutory Auditor of the Company has submitted Auditor's Report on the Accounts of the Company for the accounting year ended on 31st March 2020. The Auditor's report is self explanatory and requires no comments.

b. Secretarial Auditor

M/s DMK Associates, Company Secretary in Practice, has been appointed as Secretarial Auditors of the Company by the Board of Directors of the Company in their meeting held on 15thMay, 2019 for the financial year 2019-20.

The Secretarial Auditors of the Company have submitted their Report in the Form No. MR-3 as required under Section 204 of the Companies Act, 2013 for the financial year ended 31st March, 2020 which is annexed herewith as Annexure-C to this Report. Further in terms of Regulation 24A of the Listing Regulations the Secretarial Compliance Report is also submitted.

c. Cost Auditor

The Board of Directors has appointed M/s K. L. Jaisingh & Co., Cost Accountants, New Delhi as the Cost Auditors of the Company to conduct Cost Audit of the Accounts for the financial year ended 2020-21 However, as per provisions of Section 148 of the Companies Act, 2013 read with Companies (Cost Record and Audit) rules, 2014, the remuneration to be paid to the Cost Auditors are subject to ratification by members at the Annual General Meeting. Accordingly, the remuneration to be paid to K. L. Jaisingh & Co., Cost Accountants, New Delhi for the Financial Year 2020-21 is placed for ratification by the members.

Further, the cost accounts and records as required to be maintained under Section 148 of the Act are duly made and maintained by the Company.

27. PARTICULARS OF EMPLOYEES

Information as per Section 134 of the Companies Act, 2013 read with Companies (Particulars of Employees) Amendment Rules, 2011 are given in the statement which from a part of this report. However as per the provisions of section 136 of the Companies Act, 2013, the report and accounts are being sent to all shareholders of the Company excluding the aforesaid information. Any shareholder interested in obtaining a copy of the particulars may write to the Company's Registered Office.

28. INDUSTRIAL RELATIONS

During the year under review, your Company enjoyed cordial relationship with workers and employees at all level.

29. PREVENTION OF SEXUAL HARASSMENT AT WORKPLACE

The Company is committed to provide a protective environment at workplace for all its women employees. To ensure that every women employee is treated with dignity and respect the company has in place formal policy for prevention of sexual harassment at work place and the Company has also constituted the Internal Complaint Committee in Compliance

with the requirement of this act.

30. SECRETARIAL STANDARDS

The Directors state that applicable secretarial standards have been duly followed by the Company.

31. GENERAL DISCLOSURES

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

a. Details relating to deposits covered under Chapter V of the Act.

b. Issue of equity shares and differential rights as to dividend, voting or otherwise.

c. Issue of Shares (including sweat equity shares) to employees of the Company under any scheme.

d. 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.

e. Company does not have any subsidiary.

f. There have been no material change(s) and commitment(s) affecting the financial position of the Company between the end of the financial year of the Company i.e. March 31,2020 and the date of this Report. There has been no change in the nature of business of the Company during the financial year ended on March 31,2020.

Your Directors further state that during the year under review, there were no cases filed pursuant to the Sexual Harassment of Woman at Workplace (Prevention, Prohibition and Redressal) Act, 2013.

32. ACKNOWLEDGEMENT

Your Directors place on record their sincere appreciation of the services rendered by the employees of the Company. They are grateful to shareholders, bankers, depositors, customers and vendors of the company for their continued valued support. The Directors look forward to a bright future with confidence.

For and on behalf of the Board
Sd/-
Dr. RIKHAB C. JAIN
Place: New Delhi CHAIRMAN
Date : 10.06.2020 DIN No. 01736379

   

   

T T Ltd Company Background

Rikhab C JainSanjay Kumar Jain
Incorporation Year1978
Registered Office879 Master Prithvi Nath Marg,Karol Bagh
New Delhi,New Delhi-110005
Telephone91-011-45060708,Managing Director
Fax
Company SecretarySanjay Kumar Sharma
AuditorR S Modi & Co
Face Value10
Market Lot1
ListingBSE,NSE,
RegistrarBeetal Fin.&Computer Ser.P Ltd
Beetal House 3rd Flr,Behind Local Shp Cen,Nr Dada Harsukh Das ,New Delhi - 110062

T T Ltd Company Management

Director NameDirector DesignationYear
Rikhab C Jain Chairman 2020
V R Mehta Independent Director 2020
Sanjay Kumar Jain Managing Director 2020
V K Kothari Independent Director 2020
Jyoti Jain Director 2020
Sunil Mahnot Director (Finance) & CFO 2020
Mahesh C Mehta Independent Director 2020
Sanjay Kumar Sharma Company Secretary 2020
Ankit Gulgulia Independent Director 2020

T T Ltd Listing Information

T T Ltd Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Sale of Goods NA 000411.1807
Other Operating Income NA 00010.5458
Sale of Services NA 0001.3131
Ginning MT 0000
Others NA 0000
Excise Duty NA 0000
Unspecified NA 0000
Power Kwh0000
Power MW 0000
Cotton Kg 0000
Yarn Kg 0000
Knitted Fabrics Kg 0000
Knitwear Pcs0000
Garments/Madeups NA 0000
Spindles No 0000

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