Close
x
  • SMC open account icon Open an A/C
    • Open an A/C
    • CHOOSE YOUR OPTION(S)
    • Trading A/c
    • Mutual Fund A/c
    • NBFC A/c
    • NPS A/c
  • SENSEX Sep 24 2021 12:00
    60,048.47 +163.11 ( +0.27%)
  • NIFTY Sep 24 2021 12:00
    17,853.20 +30.25 ( +0.17%)
  • SENSEX Sep 24 2021 12:00
    60,048.47 +163.11 ( +0.27%)
  • NIFTY Sep 24 2021 12:00
    17,853.20 +30.25 ( +0.17%)
  • Nasdaq Sep 24 2021 04:30
    15,052.24 +155.39 ( +1.04%)
  • DJIA Sep 24 2021 04:30
    34,764.82 +506.50 ( +1.48%)
  • S&P 500 Sep 24 2021 04:30
    4,448.98 +53.34 ( +1.21%)
  • Hang Seng Sep 24 2021 02:10
    24,192.16 -318.82 (-1.30%)
  • Crude Oil Sep 24 2021 11:29
    5,466.00 +41.00 ( +0.76%)
  • Gold Sep 24 2021 11:29
    45,995.00 -61.00 (-0.13%)
  • Silver Sep 24 2021 11:29
    59,920.00 -869.00 (-1.43%)
  • Copper Sep 24 2021 11:29
    714.00 +1.35 ( +0.19%)
  • Pound / Rupee Dec 23 2016 22:30
    100.57 0.00 (0.00%)
  • Dollar / Rupee Dec 23 2016 22:30
    73.71 +0.13 ( +0.18%)
  • Euro / Rupee Dec 23 2016 22:30
    86.40 +0.09 ( +0.11%)
  • Yen / Rupee Dec 23 2016 22:30
    0.67 0.00 ( +0.03%)

Kush Industries Ltd

BSE Code : 514240 | NSE Symbol : SUZLONFIBR | ISIN:INE979D01011| SECTOR : Textiles |

NSE BSE
 
SMC up arrow

17.00

0.00 0.00 Volume 280564

16-Jul-1997 EOD

Prev. Close

17.00

Open Price

17.00

Bid Price (QTY)

-/-()

Offer Price (QTY)

-/-()

 

Today’s High/Low 17.00 - 17.00

52 wk High/Low 17.00 - 0.00

Key Stats

MARKET CAP (RS CR) 5.34
P/E 0
BOOK VALUE (RS) -7.5527866
DIV (%) 0
MARKET LOT 1
EPS (TTM) 0
PRICE/BOOK -0.46340512255437
DIV YIELD.(%) 0
FACE VALUE (RS) 10
DELIVERABLES (%)
4

News & Announcements

14-Aug-2021

Kush Industries Ltd - Announcement under Regulation 30 (LODR)-Newspaper Publication

27-Jul-2021

Kush Industries to hold AGM

24-Jul-2021

Kush Industries reports standalone net loss of Rs 0.07 crore in the June 2021 quarter

09-Jul-2021

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

27-Jul-2021

Kush Industries to hold AGM

17-Jun-2021

Kush Industries schedules board meeting

01-Feb-2021

Kush Industries to conduct board meeting

02-Nov-2020

Kush Industries to conduct board meeting

Corporate Actions

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

Financials

Income Statement

Standalone
Consolidated
 

Peers Comparsion

Select Company Name BSE Code NSE Symbol
A K Spintex Ltd 539300
Adhunik Synthetics Ltd 514055
Adhunik Yarns Ltd 514452
AKC Synthetics Ltd 514039
Alok Industries Ltd 521070 ALOKINDS
Amar Polyesters Ltd (Wound-up) 514270
Ambika Silk Mills Co Ltd 503723
Anjani Synthetics Ltd 531223
Ankit Yarns Ltd 514262
Arex Industries Ltd 526851
Arhat Industries Ltd 523812
Arihant Industries Ltd 503897 ARIHANTIND
Aryan Finefab Ltd (Wound Up) 514134 ARYAFINFAB
Ashok Fashions Ltd (Wound-up) 523718
AYM Syntex Ltd 508933 AYMSYNTEX
Bahuma Polytex Ltd 514256
Bala Techno Industries Ltd 514199
Banswara Textile Mills Ltd(merged) 502722
Baroda Dyeing Ltd 526359
Betex India Ltd 512477
Binayaka Tex Processors Ltd 523054
Bindal Textile Mills Ltd 514026
Blue Blends (India) Ltd 502761 BLUEBLENDS
Bluechip Tex Industries Ltd 506981
Bombay Dyeing & Manufacturing Company Ltd 500020 BOMDYEING
Bombay Silk Mills Ltd (Wound-Up) 503728
Bonanza Industries Ltd 523133
BSL Ltd 514045 BSL
Deccan Polypacks Ltd 531989
Delta Polysters Ltd 530311
Deora Polytex Ltd 512427
Dhanlaxmi Fabrics Ltd 521151
Donear Industries Ltd 512519 DONEAR
E-Land Apparel Ltd 532820 ELAND
Emtex Industries (India) Ltd 521099 EMTEXIND
Enkay TexoFood Inds. (Merged) 514154 ENKTEXFOOD
Enkay Texofood Industries Ltd 514254
Essjay Synthetics Ltd 514466
Evergreen Textiles Ltd 514060
Everlon Synthetics Ltd 514358
Fairdeal Filaments Ltd(Merged) 514474
Faze Three Autofab Ltd 532459
Faze Three Ltd 530079 FAZETHREE
Flora Textiles Ltd 530705
Ganesha Ecosphere Ltd 514167 GANECOS
Garden Silk Mills Ltd 500155 GARDENSILK
Garlon Polyfab Industries Ltd 514306
Gini Silk Mills Ltd 531744
Global Syntex (Bhilwara) Ltd 531872
Gravity (India) Ltd 532015
GSPL (India) Ltd 531915
Gujarat Nitrates Ltd 530503
Gupta Synthetics Ltd 514116
Hani Industries Ltd 523800
Haryana Texprints (Overseas) Ltd 514296
Hitesh Textile Mills Ltd 531284
Hytone Texstyles Ltd 514258
India Polyspin Ltd 514490
Indian Polyfins Ltd 514292
Indo Rama Textiles Ltd(merged) 532501 INDORAMTEX
Indus Fila Ltd 532821 INDUSFILA
Integral Knit Company Ltd 514298
Jai Bharat Synthetics Ltd 531239
Jaihind Synthetics Ltd 514312
Jattashankar Industries Ltd 514318
Jaybharat Fabrics Mills Ltd 507924
Jaybharat Textiles & Real Estate Ltd 512233
Kamadgiri Fashion Ltd 514322
Kamaldeep Synthetic Ltd 514416
Kapil Cotex Ltd 512036
Karan Fibres & Fabrics Ltd 521090
Kashiram Pannalal Industries Ltd 523321
Kayel Syntex Ltd 514228
Kaypee Mantex Ltd (Merged) 514226
Khator Fibre & Fabrics Ltd 521127
Konark Synthetic Ltd 514128
Krimpex Synthetics Ltd 514078
Krishna Synthetics Ltd 514404
Krystal Poly-Fab Ltd 523688
Krystal Knitwear Ltd 531393
Libra Filaments Ltd 514205
Lohia Polyester Ltd 514203
Lorenzini Apparels Ltd 540952
LS Industries Ltd 514446
Madalsa International Ltd 514173
Mahaganesh Texpro Ltd 521139
Mahendra Petrochemicals Ltd 514160 MAHENDSUIT
Mangal Processing Mill Ltd (Wound-up) 526937
Maruti Cottex Ltd 531425
Maruti Syntex (India) Ltd (Wound-up) 514201
Matushree Textiles Ltd 503001
Mazda Fabric Processors Ltd 531763
Mazda Textile Industries Ltd 514103
Minaxi Textiles Ltd 531456
Mohit Industries Ltd 531453 MOHITIND
Mrinal Dyeing & Mfg Co Ltd 500291 MARINALDYE
Mrinal Texturising Industries Ltd 523037
Mukund Syntex Ltd 514364
Nahar Fabrics Ltd 40386
Nakoda Ltd 521030 NAKODA
Nevtia Spinners Ltd 531511
Nisha Synthetics Ltd 514126
Nufab Industries Ltd 514207
Nutech Global Ltd 531304
Oasis Textiles Ltd 514114
Omnitex Industries (India) Ltd 514324
One Global Service Provider Ltd 514330
Orbit Exports Ltd 512626 ORBTEXP
Orbit Polyester Ltd 531342
Orient Fabritex Ltd 514362
Orton Synthetics Ltd 514408 ORTONSYNTH
Oxford Industries Ltd 514414
Parmeshwari Silk Mills Ltd 540467
Paro Syntex Ltd 514352
Patodia Textile Industries (Merged) 521042
Patodia Textile Industries Ltd 514310
Peeti Securities Ltd 531352
Pradip Overseas Ltd 533178 PRADIP
Prashant India Ltd 519014
Premco Global Ltd 530331
Premier Synthetics Ltd 509835
Prism Mills Ltd 521115
Pushpsons Industries Ltd 531562
R K Suitings Ltd 531757
Raghuvir Synthetics Ltd 514316
Raj Rayon Industries Ltd 530699 RAJRAYON
Rajasthan Polyesters Ltd 514073
Rajkamal Synthetics Ltd 514028
Ramgopal Polytex Ltd 514223 RAMGOPOLY
Ranjan Polysters Ltd 40467
Rishab Special Yarns Ltd 514177
Ritesh Polyesters Ltd 531057
RSC International Ltd 530179
RSL Textiles (India) Ltd 532463
S.Kumars Nationwide Ltd 514304 SKUMARSYNF
Sajjan Textiles Mills Ltd 521107
Sanrhea Technical Textile Ltd 514280
Santosh Fine Fab Ltd 530035
Santowin Corporation Ltd 512465
Sarita Synthetics and Industries Ltd 530221
Satnam Exports (India) Ltd (Wound Up) 523760
Seasons Textiles Ltd 514264
Shamken Cotsyn Ltd 514209
Shamken Multifab Ltd 514152 SHAMKNFAB
Sharad Fibres & Yarn Processors Ltd 514402
Sharda Textiles Mills (India) Ltd 514032
Shatex Industries Ltd 514185
Sheetal Filaments Ltd 514398
Shekhawati Poly-Yarn Ltd 533301 SPYL
Shree Bhavya Fabrics Ltd 521131
Shree Shyam Fabrics Ltd 514494
Shree Vaishnavi Dyeing & Printings Ltd 521202
Shri Lakshmi Cotsyn Ltd 526049 SHLAKSHMI
Siddhartha Spinfab Ltd 521204
Silkon Silk Mills (Exports) Ltd 514244
Simco Industries Ltd 526099
Siyaram Silk Mills Ltd 503811 SIYSIL
Sonu Synthetics Ltd 512491
Source Industries (India) Ltd 521036
SPBL Ltd(merged) 531702
SSM Mills Ltd 521172
STL Global Ltd 532730 SGL
Subhakti Textiles Ltd 514268
Sun Polytron Industries Ltd 514189 KESWANISYN
Suncity Synthetics Ltd 530795
Sunil Industries Ltd 521232
Supertex Industries Ltd 526133
Surbhi Industries Ltd 514260
Teaktex Processing Complex Ltd 530817
TTL Enterprises Ltd 514236
Tuni Textile Mills Ltd 531411
Uniroyal Industries Ltd 521226
Valson Industries Ltd 530459
Veena Textiles Ltd 521028
Ventura Textiles Ltd 516098
Vijay Textiles Ltd 530151
Vinny Overseas Ltd 535118 VINNY
Vishal Fabrics Ltd 538598 VISHAL
VTM Ltd 532893 VTMLTD
Weizmann Ltd 523011 WEIZMANIND
Yangir Synthetics Ltd 514314

Share Holding

Category No. of shares Percentage
Total Foreign 1514622 9.93
Total Institutions 15000 0.10
Total Govt Holding 409000 2.68
Total Non Promoter Corporate Holding 286982 1.88
Total Promoters 8684920 56.95
Total Public & others 4339476 28.46
Total 15250000 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About Kush Industries Ltd

Suzlon Fibres (SFL) was incorporated as a public limited company on 4 Mar.'92 in Gujarat to manufacture twisted polyester filament yarn and micro filament yarn with a capacity of 500 tpa. It installed facilities to produce 5 lac mtr of grey fabric at its plant at GIDC Ankleshwar (Bharuch district), Gujarat. The company was promoted by Tulsibhai R Tanti, Vinodbhai R Tanti, Mansukhbhai K Patel and Karsonbhai B Patel. Other group companies include Suzlon Synthetics, Nidhi Synthetics, Kishan Cold Storage, B R Patel & Company, Panchsheel Solvent Industries and Patel Karsandas Bechards & Company. SFL came out with a public issue of 23.70 lac equity shares at par, aggregating Rs 2.37 cr, in Mar.'93. The proceeds of the issue were utilised to part-finance a Rs 5.70-cr project for the manufacture of PFY and micro filament yarn. During 1998-99, the operation of the spinning project have stabilised to produce top quality blended yarn of international standards. The spinning division has further commissioned and installed 528 spindles in addittion to the existing 12312 spindles. Further 6 weaving machines were also commissioned and installed during the year. The management has installed and commissioned additional 2208 spindles by making an increase of 17% in production capacity, in the year 1999-2000. The product division has also achieved distinction of getting BVQI Certificate for maintaining high standards of quality as per ISO 9002:1994.The Company's Draw Twisting Unit remained in-operative during 2001-02.

Kush Industries Ltd Chairman Speech

Kush Industries Ltd Company History

Suzlon Fibres (SFL) was incorporated as a public limited company on 4 Mar.'92 in Gujarat to manufacture twisted polyester filament yarn and micro filament yarn with a capacity of 500 tpa. It installed facilities to produce 5 lac mtr of grey fabric at its plant at GIDC Ankleshwar (Bharuch district), Gujarat. The company was promoted by Tulsibhai R Tanti, Vinodbhai R Tanti, Mansukhbhai K Patel and Karsonbhai B Patel. Other group companies include Suzlon Synthetics, Nidhi Synthetics, Kishan Cold Storage, B R Patel & Company, Panchsheel Solvent Industries and Patel Karsandas Bechards & Company. SFL came out with a public issue of 23.70 lac equity shares at par, aggregating Rs 2.37 cr, in Mar.'93. The proceeds of the issue were utilised to part-finance a Rs 5.70-cr project for the manufacture of PFY and micro filament yarn. During 1998-99, the operation of the spinning project have stabilised to produce top quality blended yarn of international standards. The spinning division has further commissioned and installed 528 spindles in addittion to the existing 12312 spindles. Further 6 weaving machines were also commissioned and installed during the year. The management has installed and commissioned additional 2208 spindles by making an increase of 17% in production capacity, in the year 1999-2000. The product division has also achieved distinction of getting BVQI Certificate for maintaining high standards of quality as per ISO 9002:1994.The Company's Draw Twisting Unit remained in-operative during 2001-02.

Kush Industries Ltd Directors Reports

Dear Members,

Your Directors present the 29th ANNUAL REPORT together with the Audited Financial Statements for the Financial Year 2020-21 ended 31st March, 2021.

1. FINANCIAL RESULTS :

(Rs. in Lakh)

Particulars 2020-21 2019-20
Profit/(Loss) before Depreciation and Tax (20.02) 150.55
Less/(Add): Depreciation 9.58 9.58
Profit/(Loss) before/after tax (29.60) 140.97
Tax 0.00 0.00
Opening debit balance of Profit & Loss (2647.98) (2787.79)
Loss carried forward to Balance sheet (2676.80) (2647.98)
Other comprehensive income 0.78 (1.15)

There are no material changes and commitment off the financial position of company which have occurred between 1st April, 2021 and date of this report. Due to the second wave of COVID 19 the operation of the company has been affected adversely since April, 2021.

2. OPERATIONS:

During the year under review the sales was totaling to Rs. 2.28 lakh as compared to Job work & own production of furnishing fabrics and ceramics of Rs. 33.24 lakh during 2019-20. The Company has earned other income of Rs. 7.16 lakh during the year under review as compared to Rs. 217.33 lakh during 2019-20. In last year exceptional income generated of Rs. 208.75 Lakh was from maturity of Keyman policy.

During the year under review, the Company incurred Loss before Depreciation of Rs. 20.02 lakh compared to Profit of Rs. 150.55 lakh during 2019-20. After providing for depreciation of Rs. 9.58 lakh, the Loss after depreciation stood at Rs. 29.60 lakh.

The other comprehensive income stood at Rs. 0.78 lakh during the year as compared to Rs. 1.15 lakh Loss for the year 2019-20.

The transfer printing machine division has not been functional due to Covid-19 and has not performed as expected. The ceramic business has been closed down and lease out the said premises.

3. DIVIDEND:

In view of the large accumulated losses, your Directors regret their inability to recommend any dividend on the Equity Shares of the Company.

4. FUTURE OUT LOOK:

The transfer printing machine division have not performed as expected. There is no commercial activity as present.

5. FINANCE:

Fund arrangements including working capital have been prudently managed and during the current financial year company did not enjoy any financial assistance from Financial Institutions and Banks.

The Company has not raised any term loan during the year as well as not given any guarantee for loans taken by others from bank or financial institutions.

The Company's Income-tax Assessment has been completed up to the Assessment Year 2014-15 and Sales tax Assessment is completed up to the Financial Year 2001-02.

6. COVID-19 PANDEMIC:

Due to outbreak of Covid-19 globally and in India, the Company's management has made initial assessment of likely adverse impact on business and financial risks on account of Covid-19. There is slow down in the business of the Company due to lockdown which had impact on operations.

7. LISTING:

The Equity Shares of the Company are listed on BSE Limited. The Company is regular in payment of Annual Listing Fees. The Company has paid Listing fees up to the year 2021-22.

8. SHARE CAPITAL:

The paid up Share Capital of the Company as on 31st March, 2021 was Rs. 15,25,00,000/-. As on 31st March, 2021, the Company has not issued shares with differential voting rights nor granted stock options nor sweat equity and none of the Directors of the Company hold any convertible instruments.

9. DIRECTORS:

9.1 One of your Directors viz. Mrs. Kiran M. Virani (DIN: 07126947) retires by rotation in terms of the Articles of Association of the Company. However, being eligible offers herself for reappointment. Further, subject to approval of the Members at the ensuing Annual General Meeting (AGM), the Board has resolved to re-appoint Mrs. Kiran M. Virani as Director of the Company.

The above re- appointment forms part of the Notice of the forthcoming 29th AGM and the resolutions are recommended for your approval.

9.2 Brief profile of the Director who is being appointed or re-appointed as required under Regulations 36(3) of Listing Regulations, 2015 and Secretarial Standard on General Meetings is provided in the notice for the forthcoming AGM of the Company.

9.3 The Board of Directors duly met 5 times during the financial year under review.

9.4 The Company has received necessary declaration from each Independent Director of the Company under Section 149(7) of the Companies Act, 2013 (the Act) that they meet with the criteria of their independence laid down in Section 149(6) of the Act.

9.5 FORMAL ANNUAL EVALUATION:

The Nomination and Remuneration Committee adopted a formal mechanism for evaluating the performance of the Board of Directors as well as that of its Committees and individual Directors, including Chairman of the Board, Key Managerial Personnel/ Senior Management etc. The exercise was carried out through an evaluation process covering aspects such as composition of the Board, experience, competencies, governance issues etc.

9.6 DIRECTORS' RESPONSIBILITY STATEMENT:

Pursuant to the requirement of Section 134 of the Companies Act, 2013, it is hereby confirmed:

(i) that in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;

(ii) that 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 at 31st March, 2021 being end of the financial year 2020-21 and of the Loss of the Company for the year;

(iii) that the Directors had taken proper and sufficient care for maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

(iv) that the Directors had prepared the annual accounts on a going concern basis.

(v) the Directors, had laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and were operating effectively.

(vi) 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.

10. INTERNAL FINANCIAL CONTROL AND ITS ADEQUACY:

The Board has adopted policies and procedures for ensuring the orderly and efficient conduct of its business, including adherence to the Company's policies, safeguarding of assets, prevention and detection of frauds and errors, accuracy and completeness of the accounting records and the timely preparation of reliable financial disclosures.

11. MANAGERIAL REMUNERATION:

REMUNERATION OF DIRECTORS:

The Company has not paid any Managerial Remuneration or other benefits to any of its Directors. The Board of Directors has framed a Remuneration Policy that assures the level and composition of remuneration is reasonable and sufficient to attract, retain and motivate Directors, Key Managerial Personnel and Senior Management to enhance the quality required to run the Company successfully. The Relationship of remuneration to performance is clear and meets appropriate performance benchmarks. All the Board Members and Senior Management personnel have affirmed time to time implementation of the said Remuneration policy.

The Nomination and Remuneration Policy are available on the Company's website- www.kushindustrieslimited.com

12. KEY MANAGERIAL PERSONNEL (KMP) AND PERSONNEL:

The existing staff of the company have resigned and their full and final settlement has been completed during the year. The company at present have the following two personnel, statutorily required:

Remuneration of KMP:

Sr. No. Name of the KMP Designation Remuneration
1. Mr. Dipak S. Patel CFO 1,93,600
2. Mrs. Bhoomi S. Shah Company Secretary 2,40,000/-

13. PERSONNEL AND H. R. D.:

13.1 INDUSTRIAL RELATIONS:

The industrial relations continued to remain cordial and peaceful and your Company continued to give ever increasing importance to training at all levels and other aspects of H. R. D.

The number of Employees of the Company are 2 (Two). The relationship between average increase in remuneration and Company's performance is as per the appropriate performance benchmarks and reflects short and long term performance objectives appropriate to the working of the Company and its goals.

13.2 PARTICULARS OF EMPLOYEES:

There is no Employee drawing remuneration requiring disclosure under Rule 5(2) of Companies Appointment & Remuneration of Managerial personnel) Rules, 2014.

14. RELATED PARTY TRANSACTION AND DETAILS OF LOANS, GUARANTEES, INVESTMENT & SECURITIES PROVIDED:

Details of Related Party Transactions and Details of Loans, Guarantees and Investments covered under the provisions of Section 188 and 186 of the Companies Act, 2013 respectively are given in the notes to the Financial Statements attached to the Directors' Report.

All transactions entered 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 transactions with related parties which could be considered as material in accordance with the policy of the Company on materiality of related party transactions.

The Policy on materiality of related party transactions and dealing with related party transactions as approved by the Board may be accessed on the Company's website at www.kushindustrieslimited.com

15. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:

The information required under Section 134(3) (m) of the Companies Act, 2013 and Rule 8(3) of Companies (Accounts) Rules, 2014, relating to the conservation of Energy and Technology Absorption forms part of this report and is given by way of Annexure - A.

16. CORPORATE GOVERNANCE AND MDA:

As per Regulation 34 (3) read with Schedule V of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Report on Corporate Governance, Management Discussion and Analysis (MDA) and a certificate regarding compliance with the conditions of Corporate Governance are appended to the Annual Report as Annexure - B.

17. SECRETARIAL AUDIT REPORT:

Your Company has obtained Secretarial Audit Report as required under Section 204(1) of the Companies Act, 2013 from M/s. Kashyap R. Mehta & Associates, Company Secretaries, Ahmedabad. The said Report is attached with this Report as Annexure - D.

There are no remarks / qualification in the Secretarial Audit Report, hence no explanation has been offered.

18. WEB ADDRESS OF ANNUAL RETURN:

Pursuant to Section 92(3) read with Section 134(3)(a) of the Act, the draft Annual Return as on 31st March, 2021 is available on the Company's website www.kushindustrieslimited.com.

19. AUDIT COMMITTEE/ NOMINATION AND REMUNERATION COMMITTEE/ STAKEHOLDERS' RELATIONSHIP COMMITTEE:

The details of various committees and their functions are part of Corporate Governance Report.

20. GENERAL:

20.1. STATUTORY AUDITORS:

The present Auditors of the Company M/s. V H Gundarwala & Co., Chartered Accountants (Firm Registration No. 113291W), were appointed as Statutory Auditors of the Company at the 28th Annual General Meeting for a period of 5 years i.e. for financial years 2020-21 to 2024-25. They continue to hold office as Statutory Auditors till the conclusion of 33rd AGM to be held in the year 2025.

The remarks of Auditor are self explanatory and have been explained in Notes on Accounts.

20.2 INSURANCE:

The movable and immovable properties of the Company including plant and Machinery and stocks wherever necessary and to the extent required have been adequately insured against the risks of fire, riot, strike, malicious damage etc. as per the consistent policy of the Company.

20.3 DEPOSITS:

The Company has not accepted during the year under review any Deposits and there were no overdue deposits.

20.4 RISKS MANAGEMENT POLICY:

The Company has a risk management policy, which from time to time, is reviewed by the Audit Committee of Directors as well as by the Board of Directors. The Policy is reviewed quarterly by assessing the threats and opportunities that will impact the objectives set for the Company as a whole. The Policy is designed to provide the categorization of risk into threat and its cause, impact, treatment and control measures. As part of the Risk Management policy, the relevant parameters for protection of environment, safety of operations and health of people at work are monitored regularly with reference to statutory regulations and guidelines defined by the Company.

20.5 SUBSIDIARIES/ ASSOCIATES/ JVS:

The Company does not have any Subsidiaries/ Associates Companies / JVs.

20.6 RESEARCH & DEVELOPMENT:

The Company is continuously working on Research and Development resulting in new innovation leading to cost reduction and better product quality.

20.7 CODE OF CONDUCT:

The Board of Directors has laid down a Code of Conduct applicable to the Board of Directors and Senior Management. All the Board Members and Senior Management personnel have affirmed compliance with the code of conduct.

20.8 SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS:

There have been no significant and material orders passed by any regulators or courts or tribunals, impacting the going concern status of the Company and its future operations.

20.9 ENVIRONMENT AND SAFETY:

The Company is conscious of the importance of environmentally clean and safe operations. The Company's policy requires conduct of operations in such a manner, so as to ensure safety of all concerned, compliances of environmental regulations and preservation of natural resources.

20.10 DISCLOSURES UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION & REDRESSAL) ACT, 2013:

The Company has in place an Anti Sexual Harassment Policy, in line with the requirements of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. During the year under review, the Company did not receive any complaint.

20.11 INSTANCES OF FRAUD, IF ANY REPORTED BY THE AUDITORS:

There have been no instances of fraud reported by the Auditors under Section 143(12) of the Companies Act, 2013.

20.12 SECRETARIAL STANDARDS:

The Company complies with the Secretarial Standards, issued by the Institute of Company Secretaries of India, which are mandatorily applicable to the Company.

21. DISCLOSURE OF ACCOUNTING TREATMENT:

In the preparation of the financial statements, the Company has followed the Accounting Standards referred to in Section 133 of the Companies Act, 2013. The significant accounting policies which are consistently applied are set out in the Notes to the Financial Statements.

22. DISCLOSURE OF MAINTENANCE OF COST RECORDS:

Maintenance of cost records as specified by the Central Government under sub-section (1) of section 148 of the Companies Act, 2013, is not applicable to the Company.

23. DEMATERIALISATION OF EQUITY SHARES:

Shareholders have an option to dematerialise their shares with either of the depositories viz NSDL and CDSL. The ISIN No. allotted is INE979D01011.

24. CORPORATE SOCIAL RESPONSIBILITY INITIATIVES:

During this period pursuant to the provisions under section 135 in respect of CSR, the same is not applicable to the Company. Hence, your Directors have not constituted the Corporate Social Responsibility (CSR) Committee.

25. INSIDER TRADING POLICY:

As required under the Insider Trading Policy Regulations of SEBI, your Directors have framed and approved Insider Trading Policy for the Company i.e. 'Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information' and 'Code of Conduct for Regulating Monitoring and Reporting of Trading by Designated Persons/Insiders'. The Policy is available on the company's website.

26. SALE OF UNDERTAKING OF COMPANY:

The Company had passed Special resolution under section 180(1)(a) of the companies act, 2013 in the Annual General Meeting held on 25th September, 2020 and obtained necessary approval of members for sale/ disposal off the company's 'undertaking' being land and building etc. situated at plot no. 330A, GIDC, Opp. Atul Products Ltd, Ankleshwar, Dist: Bharuch, Gujarat - 393002.

The board has already finalized the deal with parties with terms more beneficial to the company. The process of change in the name of the property in GIDC has been completed and with other authority, it is under process. The company will execute required documents in due cross of time. The proceeds will be used in the best interest of company including repayment of dues & liquidation of liabilities.

27. ACKNOWLEDGEMENT:

Your Directors express their sincere thanks and appreciation to Promoters and Shareholders for their constant support and co operation. Your Directors also place on record their grateful appreciation and co operation received from Bankers, Financial Institutions, Government Agencies and employees of the Company.

for and on behalf of the Board,
Place : Ankleshwar Mansukh K. Virani
Date : 24th July, 2021 Chairman
(DIN: 00873403)

   

Kush Industries Ltd Company Background

Mansukh K Virani
Incorporation Year1992
Registered OfficePlot No 330-A GIDC Estate,Opp Atul Products Ankleshwar
Bharuch,Gujarat-393002
Telephone91-2646-224049/224050,Managing Director
Fax91-2646-252381
Company SecretaryBhoomi S Shah
AuditorV H Gundarwala & Co
Face Value10
Market Lot1
ListingBSE,
RegistrarLink Intime India Pvt Ltd
5th Floor 506 to 508,ABC-1 Off C.G Road ,Ellisbridge ,Ahmedabad-380006

Kush Industries Ltd Company Management

Director NameDirector DesignationYear
Mansukh K ViraniChairman & Wholetime Director2019
Ranjitsinh A ParmarIndependent Director2019
Priyesh G ShahIndependent Director2019
Kiran M ViraniDirector2019
Bhoomi S ShahCompany Secretary2019

Kush Industries Ltd Listing Information

Kush Industries Ltd Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Sale of Products NA 0001.17185
Job Work Mtr0000.05791
Spinning MT 0000
Unspecified NA 0000
Fabrics Mtr0000
Fabrics Furnishing Mtr0000
Adjustment NA 0000
PFY/POY MT 0000
Texturised Yarn MT 0000
Polyester Viscose Yarn MT 0000

Contact us Contact us