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Dai-ichi Karkaria Ltd

BSE Code : 526821 | NSE Symbol : DAICHIKARK | ISIN:INE928C01010| SECTOR : Chemicals |

NSE BSE
 
SMC up arrow

11.40

0.00 0.00 Volume 280564

27-Feb-2001 EOD

Prev. Close

11.40

Open Price

11.35

Bid Price (QTY)

10.70(100)

Offer Price (QTY)

12.70(10)

 

Today’s High/Low 11.40 - 11.35

52 wk High/Low 11.40 - 0.00

Key Stats

MARKET CAP (RS CR) 254.38
P/E 0
BOOK VALUE (RS) 183.5302013
DIV (%) 30
MARKET LOT 1
EPS (TTM) 0
PRICE/BOOK 1.86045673998833
DIV YIELD.(%) 0.88
FACE VALUE (RS) 10
DELIVERABLES (%)
4

News & Announcements

29-Oct-2021

Dai-ichi Karkaria reports standalone net loss of Rs 4.62 crore in the September 2021 quarter

29-Oct-2021

Dai-ichi Karkaria reports consolidated net loss of Rs 6.51 crore in the September 2021 quarter

21-Oct-2021

Dai-ichi Karkaria to convene board meeting

14-Aug-2021

Dai-ichi Karkaria reports consolidated net loss of Rs 5.22 crore in the June 2021 quarter

21-Oct-2021

Dai-ichi Karkaria to convene board meeting

05-Aug-2021

Dai-ichi Karkaria to convene board meeting

17-Jul-2021

Dai-ichi Karkaria to hold AGM

11-May-2021

Board of Dai-ichi Karkaria recommends Final Dividend

Corporate Actions

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

Financials

Income Statement

Standalone
Consolidated
 

Peers Comparsion

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TECIL Chemical & Hydro Power Ltd 506680 TECILCHEM
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Thirani Chemicals Ltd (Merged) 524125
Thirumalai Chemicals Ltd 500412 TIRUMALCHM
Tide Water Oil Co (I) Ltd 590005 TIDEWATER
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Valiant Organics Ltd 540145 VALIANTORG
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Vijayshree Chemicals (India) Ltd 524312
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Share Holding

Category No. of shares Percentage
Total Foreign 78271 1.05
Total Institutions 32454 0.44
Total Govt Holding 0 0.00
Total Non Promoter Corporate Holding 288780 3.88
Total Promoters 4755446 63.82
Total Public & others 2296278 30.82
Total 7451229 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About Dai-ichi Karkaria Ltd

Dai Ichi Karkaria (DIK), manufactures speciality chemicals has a tie-up with Matsumoto to manufacture spin finishes, which are used for imparting lubrication and anti-static properties to textile filaments and yarns. It is now expanding its production capacity from 750 tpa to 3000 tpa. DIK had set up a unit to manufacture certain bulk drugs omeprazole, menadione and calcium pentothenate, the last two will be manufactured in India for the first time. DIK is also setting up a unit to manufacture 600 tpa of polyacrylamide-based flocculents which are used for solid-liquid separation. The expansion cum Diversification plan for High Molecular Weight Flocculants Project at Kurkumbh has been successfully completed. Company had joint venture with project consultant for effluent treatment plants for increasing business. Company Bulk Drugs & Fine Chemical Projects for patented molecule processes were developed and were scaled up to commercial level by March-99. Company plans to start development of three new products in the pilot facility which is being upgraded presently to meet strict cGMP condition. Company also negotiating with foreign customer for product specific tie-ups in future. Company Spin fishes continue to do well & POY DTY finish has been accepted in the market & company hopes to get orders from leading synthetic fibre manufacturers. During the year 1999-2000, the company's successfully introduced eight new products in therapeutic areas of cardiovascular, antihistaminics, analgesics, anxiolytic, antidepressant and anticonsulgants. The diversification programme which was taken up by the company is focusing in the three major areas are ETP,paper and Alumina industry.

Dai-ichi Karkaria Ltd Chairman Speech

Dai-ichi Karkaria Ltd Company History

Dai Ichi Karkaria (DIK), manufactures speciality chemicals has a tie-up with Matsumoto to manufacture spin finishes, which are used for imparting lubrication and anti-static properties to textile filaments and yarns. It is now expanding its production capacity from 750 tpa to 3000 tpa. DIK had set up a unit to manufacture certain bulk drugs omeprazole, menadione and calcium pentothenate, the last two will be manufactured in India for the first time. DIK is also setting up a unit to manufacture 600 tpa of polyacrylamide-based flocculents which are used for solid-liquid separation. The expansion cum Diversification plan for High Molecular Weight Flocculants Project at Kurkumbh has been successfully completed. Company had joint venture with project consultant for effluent treatment plants for increasing business. Company Bulk Drugs & Fine Chemical Projects for patented molecule processes were developed and were scaled up to commercial level by March-99. Company plans to start development of three new products in the pilot facility which is being upgraded presently to meet strict cGMP condition. Company also negotiating with foreign customer for product specific tie-ups in future. Company Spin fishes continue to do well & POY DTY finish has been accepted in the market & company hopes to get orders from leading synthetic fibre manufacturers. During the year 1999-2000, the company's successfully introduced eight new products in therapeutic areas of cardiovascular, antihistaminics, analgesics, anxiolytic, antidepressant and anticonsulgants. The diversification programme which was taken up by the company is focusing in the three major areas are ETP,paper and Alumina industry.

Dai-ichi Karkaria Ltd Directors Reports

Dear Members,

Your Directors have pleasure in presenting the Sixty-First Annual Report together with the audited accounts for the year ended March 31, 2021.

FINANCIAL RESULTS:

(Rs. in Lakhs)
Particulars As on 31st March, 2021 As on 31st March, 2020
Revenue from operations 9742 10717
Other Income 629 384
Total Income 10371 11101
Profit/ (Loss) before Depreciation/Amortization, Interest and Tax (726) (124)
Profit/ (Loss) after exceptional item before tax 5718 (2494)
Earnings per equity share: Basic and Diluted (Rs.10/- each) 66.83 (33.47)
Book Value of shares (Rs.) 199.39 132.37

DIVIDEND:

The Directors are pleased to recommend a dividend of Rs.3 per equity share of Rs.10/- each for the year ended March 31, 2021, subject to the approval of Members at the ensuing Annual General Meeting. The dividend payout will aggregate to Rs.223.54 lakhs.

In view of the changes made under the Income-tax Act, 1961, by the Finance Act, 2020, dividends paid or distributed by the Company shall be taxable in the hands of the Shareholders. The Company shall, accordingly, make the payment of the Dividend after deduction of tax at source.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

The year 2020-21 was meant to be a very promising year for the company.

We had finally resolved our Labour issues at Kasarwadi, we had agreement for sale of our land, we had a strong order book and strengthened our collaboration with our partners, and were finally hopeful that we could settle down to business. Unfortunately, the pandemic struck, and the world was thrown into uncertainty.

It was a year of unprecedented disruption and pandemic induced challenges.

Fortunately, however for the company, we were very quickly able to scramble back and start production. We were making a key product that goes into the manufacturing of Hazmat suits and were permitted to start production in spite of the lockdown. With this we were able to also complete some of our export orders and continue business in spite of the very challenging circumstances. Many of our domestic customers continued to be under lockdown till June, and we were working at 40% capacity for several months. By the month of October, we were close to 80% capacity. And accepting new business from our partners for export.

The development work carried out jointly with our partners, was slowly resulting in bulk business.

As we approached the end of the year, we unfortunately faced another serious hurdle. This time there was a fire incident that set us back. However, with amazing speed and flexibility our team was able to start production at 5 different sites within a short period of time. We were able to complete a lot of our export commitments without much disruption to our customers.

In Fact, in March 21, we reached the highest ever sales turnover for the month, and we are proud to say that we exceeded our targets.

INDUSTRY STRUCTURE & DEVELOPMENT: OPPORTUNITIES AND THREATS, RISKS AND CONCERNS

The year ahead for the country will depend on how well we are able to control the pandemic and withstand the sporadic regional lockdowns, and unprecedented supply chain disruptions.

Many industries have shown great resilience through innovative RESETS, in the face of collapsing demand, and surging raw material costs.

With WFH initiatives and enhanced digitization in the business processes, most companies have tried to make the best of a difficult and uncertain situation.

Location is no longer a barrier, but can now be used to activate secondary supplier relationships, as the company has done recently to enhance capacity.

There has been an economic unlock, but once again with rising cases the uncertainties loom large.

Though surveys talk of a 7.5% to 11% growth trajectory in the coming year, and India is touted to be one of the fastest growing major economies, the significant uncertainty around epidemiology and policy factors would greatly determine the outcome.

Overall Performance:

Our performance for the financial year 20-21 was impacted due to two major events - the pandemic and the fire incident at our facility. While the pandemic greatly affected the business in Q1 and Q2, the unfortunate incident in one section of the plant affected the sales in Q3 and Q4. Timely action in identifying outsourcing sites and starting operations at these sites has helped us to reduce the impact of the drop in Sales, which otherwise would have been much more. Despite such hurdles, the company was able to post an all-time-high top-line for the month of March'21. We expect to maintain this tempo in the upcoming quarters, and look forward to a significantly better FY 22.

Vertical-wise Performance:

In the Agro vertical the sales were lower by around 15% in volume terms. On the positive side, we developed a new speciality product. The product was commercialized during the first quarter of FY20/21 and we were able to bag a good share of this import substituent in Q4. Also, contract orders for emulsifiers have increased to nearly 50 tons this season.

Our key business of emulsifier for bio-pesticides was affected both due to the global impact of COVID 19 as well as due to the fire incident. However, we were able to quickly resume manufacturing of this key product and service the outstanding orders. The agro segment is likely to remain steady in the next two quarters and remains an area of focus and growth.

In the area of Construction Chemicals, we were able to develop and supply our new range of Superplasticizers. The construction industry was one of the most affected ones due to the lockdown, which also impacted the demand for our additives. Subsequently, the fire incident impacted the key machinery to manufacture our waterproofing additive, which resulted in loss of sales in this segment.

In the Home & Personal Care vertical, the business saw a growth in the sales of the speciality emulsifiers to the leading Spice Export Houses this year. We expect this business to continue growing in the upcoming year. Our Kosher and Halal certifications are renewed.

In the Oilfield segment which is a vital segment for our company, we were able to post a 10% growth despite it being one of the worst years for the Oil & gas industry. Identifying multiple sites for outsourcing of production, managing the resources to handle the manufacturing at these sites, and getting an increase in prices from our customers are the key factors which helped us avoid any break in our exports. We were able to develop and commercialize some key products for our partners in this segment. We expect good growth in the Oil field sector in FY 2021-22.

In the Paints & Coatings segment, our performance has been reasonably stable compared to last year despite the many hurdles. We received contract orders from a key domestic customer for an import substituent product. The export business of anionic emulsifiers for Paint units in Bangladesh and the Gulf region witnessed an increase of more than 50%.

In the area of Rayon, we are supplying our products to all the major Rayon producing units in the country. All these units were under prolonged shutdown due to the pandemic, leading to low demand in the textiles segment. This severely impacted the local sales though we could revive the export orders in Q3 and Q4. The industry also had to face an acute shortage of key raw materials required for the formulation of Finishing chemicals. We were able to retain all our key customers during this difficult phase.

In the Sizing chemicals vertical, we achieved a major breakthrough in Q1 as one of our large customers required our specialized products for their fabrics to be made into haz-mat suits for PPE. This had resulted in bagging a contract order for the first quarter. Subsequently, the key machinery for the main high-volume Sizing product was damaged during the fire incident, resulting in loss of sales in Q3 & Q4. We have made necessary arrangements to manufacture this product beginning Apr'21, and we should be able to get back all the key customers. Recently we have also got a breakthrough in this sector with leading units in Surat and Ahmedabad.

The Textile Auxiliaries vertical was affected in a big way as the processing units were majorly impacted by the pandemic in the first two quarters, and the remaining two quarters were impacted by the fire incident. Our range of textile finishing softeners which contribute a major component of sales in this segment were affected by the fire incident due to the damage to the specialised reactors. We have restarted the softeners business from March'21, and we should be able to regain the lost sales in the coming months.

KEY FINANCIAL RATIOS:

As per the provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the significant changes (i.e. changes exceeding 25%) in the key financial ratios along with explanations are given below:

Particulars As at 31.3.2021 As at 31.3.2020 Variance Explanation for variance
Interest Coverage Ratio -1.71 -1.04 64% Due to repayment of Term Loan of Axis/HDFC Bank
Debt Equity Ratio 0.14 1.10 87% Due to repayment of Term Loan of Axis/HDFC Bank
Operating Profit/ Loss Margin (%) -26% -16% 62% Due to Fire incidence at Dahej on November 22, 2020.
Return on Net Worth (%) 34% -25% 236% Due to Profit from Sale of Land

JOINT VENTURE/ASSOCIATE/ SUBSIDIARY COMPANIES:

Dai-ichi Karkaria Limited has a Joint venture with CTI Chemicals Asia Pacific Pte. Ltd., in ChampionX Dai-ichi India Private Limited (formerly known as Nalco Champion Dai-ichi India Private Limited) in the ratio of 50:50.

The Company has a Subsidiary, Dai-ichi Gosei Chemicals (India) Limited. The Annual accounts of the Subsidiary Company are placed on the website of the Company and will be provided to the members on request.

As per the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Companies Act, 2013 and applicable Accounting Standards, the Consolidated Financial Statements of the Company with its Joint Venture Company, ChampionX Dai- ichi India Private Limited (formerly known as Nalco Champion Dai-ichi India Private Limited) and Subsidiary Company, Dai-ichi Gosei Chemicals (India) Limited., duly audited by the Statutory Auditors are attached to the financials.

Statements containing salient features of the financial statement of subsidiary/ associate company/ joint venture are attached to the financials.

DIRECTORS AND KMP:

Ms. Meher Vakil retires from the Board of Directors by rotation, in pursuance of the provisions of the Companies Act, 2013 and Articles of Association of the Company. Being eligible she has offered herself for re-appointment. The Board of Directors recommends her re-appointment. The information required to be furnished under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 & Secretarial Standards is given in the Notice of the 61st Annual General Meeting.

Mr. Behram Sorabji, Independent Director of the Company resigned from Directorship of the Company w.e.f. closing of business hours of June 8, 2020 on account of his pre-occupation and ongoing health issues. He has confirmed that there are no other material reasons for his resignation. The Board acknowledges his significant contribution as a Board & Committee Member of the Company during his tenure.

Dr. Anil Naik, Independent Director of the Company expired on July 29, 2020. His sudden and unexpected passing away will be an irreparable loss to the Company and the Board of Directors.

Pursuant to the recommendations of the Nomination and Remuneration Committee (‘NRC'), the Board of Directors, at its meeting held on September 9, 2020, appointed Mr. Ashok Hiremath as an Additional Independent Director of the Company. A resolution seeking shareholders' approval for his appointment as Independent Director for a term commencing from September 9, 2020 upto the conclusion of 65th Annual General Meeting, forms a part of the Notice.

The Members of the Company had appointed Mr. Kavas Patel and Mr. Keki Elavia as Independent Directors under the Companies Act, 2013, not liable to retire by rotation and to hold office upto the conclusion of 63rd Annual General Meeting. All the Independent Directors have given declarations that they continue to meet the criteria of independence as laid down under Section 149(6) of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

During the financial 2020-21, Mrs. Kavita Thadeshwar resigned as a Company Secretary and Compliance officer of the Company w.e.f. closing of business hours of March 10, 2021. Pursuant to the recommendations of the Nomination and Remuneration Committee (‘NRC'), the Board of Directors, at its meeting held on February 13, 2021, appointed Mr. Ankit Shah as Company Secretary and Compliance officer of the Company w.e.f. March 11, 2021.

Pursuant to the provisions of Section 203 of the Act, the Key Managerial Personnel of the Company as on March 31, 2021 are Mrs. Shernaz Vakil, Chairperson & Managing Director, Ms. Meher Vakil, Whole-time Director, Mr. Shailesh Chauhan, Chief Financial Officer and Mr. Ankit Shah, Secretary of the Company.

DIRECTORS' RESPONSIBILITY STATEMENT:

To the best of their knowledge and belief and according to the information and explanations obtained by them, your Directors make the following statements in terms of Section 134(5) of the Companies Act, 2013:

a) In the preparation of the annual accounts, for the financial year ended March 31, 2021, the applicable accounting standards had been followed along with proper explanation relating to material departures;

b) The Directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year March 31, 2021 and of the profit and loss of the company for that period;

c) Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d) The annual accounts have been prepared on a ‘going concern' basis;

e) Proper internal financial controls laid down by the Directors were followed by the Company and that such internal financial controls are adequate and operating effectively;

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

DETAILS OF INTERNAL FINANCIAL CONTROLS:

The Board of Directors have laid down Internal Financial Controls within the meaning of the explanation to Section 134(5)(e) ("IFC") of the Companies Act, 2013. The Board believes the Company has sound IFC commensurate with the nature and size of its business. Business is however dynamic. The Board is seized of the fact that IFC are not static and are in fact a fluid set of tools which evolve over time as the business, technology and fraud environment changes in response to competition, industry practices, legislation, regulation and current economic conditions. There will therefore be gaps in the IFC as Business evolves. The Company has a process in place to continuously identify such gaps and implement newer and/or improved controls wherever the effect of such gaps would have a material effect on the Company's operations.

BOARD EVALUATION:

Pursuant to the provisions of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board has carried out an annual performance evaluation of its own performance, individual directors and its committees. In a separate meeting of independent directors, performance of non-independent directors, the Board as a whole and the Chairperson & Managing Director and Whole-time Director of the Company was evaluated, taking into account the views of executive and non-executive directors.

The manner in which the evaluation has been carried out has been explained in the Corporate Governance Report.

NUMBER OF MEETINGS OF THE BOARD AND COMMITTEES OF THE BOARD:

Details regarding Board/Committees, its composition, number of meetings held, terms of reference, policies adopted are provided under the Corporate Governance Report forming part of the Annual Report.

CORPORATE SOCIAL RESPONSIBILITY (CSR):

The Company has constituted a Corporate Social Responsibility (CSR) Committee pursuant to Section 135 of the Companies Act, 2013. In view of average net losses for the last three financial years as computed under Section 198 of the Companies Act, 2013, it was not mandatory for the Company to undertake Corporate Social Responsibility activities during the financial year 2020-21.

Pursuant to section 135 of the Companies Act, 2013 read with Rule 8 of the Companies (Corporate Social Responsibility Policy Rules), 2014, Annual Report comprising specified details is enclosed as ‘Annexure I' to the Directors' Report.

Details regarding CSR Committee, its composition, committee meeting held, terms of reference, policy adopted are provided under the Corporate Governance Report forming part of the Annual Report.

MATERIAL DEVELOPMENTS ON HUMAN RESOURCES INCLUDING NUMBER OF PEOPLE EMPLOYED:

All manpower requirements are assessed and filled in a timely manner. The Company has a sound knowledge pool of experienced employees, which helps it to maintain consistency in performance across all disciplines. It has built a team of dedicated employees, who work with commitment and a sense of belonging towards the growth of the Company.

Following areas are given special attention to enhance performance of the employees.

• Identification of Training & development needs and upgrade job specific skills.

• Compensation, recognition & rewards.

• Career growth plan through annual assessment.

• Supporting employment related legislative compliance.

• Promoting excellence in human resource management.

• The promotion of an atmosphere of mutual respect, fairness and concern.

• Company has extended its facility for Apprentice Scheme, to needy and economical weak youths for pursuing special industrial training.

COVID-19 Management:

• Temperature machine and sanitizer dispenser has been installed at the security gate so that employees, contract workmen and visitor proceed further after proper sanitization & temperature measurement.

• Only important visitors are allowed and all of them have to share relevant information as per guidelines instructed by the local administration.

• Any employee/visitor coming from other state need to carry negative RT-PCR report to get entry within the premises. Payment for this test is reimbursed by the organisation to the employees.

• COVID-19 positive employees have been quarantined as per the recommendation of concerned doctor and payment for the quarantine period is ensured.

Toll Manufacturing:

• Based on the requirement of toll manufacturing, employees with appropriate skill sets have been deployed at different sites to supervise and ensure quality production.

As on 31st March, 2021, the total numbers of employees on the payrolls of the company are 162.

PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES:

The information required pursuant to Section 197(12) read with Rule 5 of The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, forms part of this report. In terms of Section 136 of the Act, the Report and Accounts are being sent to the Members and others entitled thereto, excluding the information on employees' particulars which is available for inspection by the Members up to the date of the ensuing Annual General Meeting. If any Member is interested in obtaining a copy thereof, such Member may email to the Company in this regard.

AUDITORS:

STATUTORY AUDITORS:

B S R & Co. LLP were appointed as the Statutory Auditors of the Company to hold office from the conclusion of 57th Annual General Meeting upto the conclusion of 62nd Annual General Meeting of the Company. The Auditors' Report for the year under review does not contain any qualifications, reservations or adverse remarks.

INTERNAL AUDITORS:

Mazars Business Advisors Private Limited, Chartered Accountants, are the Internal Auditors of the Company. The Management regularly reviews the findings of the Internal Auditors and effective steps to implement any suggestions/observations of the Internal Auditors are taken and monitored regularly. In addition, the Audit Committee of the Board regularly addresses significant issues raised by the Internal Auditors.

SECRETARIAL AUDITORS:

Pursuant to the provisions of Section 204 of the Companies Act, 2013 and The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company had appointed M/s. Kaushik M. Jhaveri & Co., a firm of Practicing Company Secretaries to undertake the Secretarial Audit of the Company. The Secretarial Audit Report for the F.Y 2020-21 is annexed herewith as ‘Annexure II' There are no qualification or adverse remark in their Report.

COST AUDITORS:

As per Section 148 of the Companies Act, 2013 read with the Companies (Cost Records and Audit) Rules, 2014, the Board of Directors on recommendation of the Audit Committee, approved the appointment of Mr. Sudhir Govind Jog, Cost Accountant, (Membership no. 5599), Pune as the Cost Auditor to conduct audit of the cost records of the Company for the financial year ending March 31, 2022. The Company has received written consent and certificate of eligibility in accordance with Section 148 read with Section 141 and other applicable provisions of the Act and Rules made thereunder.

In terms of the provisions of Section 148(3) of the Companies Act, 2013 read with the Companies (Audit and Auditors) Rules, 2014, as amended, the remuneration payable to the Cost Auditor has to be ratified by the Members of the Company. Accordingly, the matter relating to ratification of the remuneration payable to the Cost Auditor for the financial year ending March 31, 2022 is being placed at the 61st AGM.

LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186 OF THE COMPANIES ACT, 2013:

The Company has not provided any loan or given any guarantee/security to any person. Details of investment made by the Company are provided in the financial statements, under Investment Schedule.

CONTRACTS AND ARRANGEMENTS WITH RELATED PARTIES:

All Related Party Transactions that were entered into during the financial year were on an arm's length basis, in the ordinary course of business and were in compliance with the applicable provisions of Companies Act, 2013 and the Listing Regulations. There were no materially significant Related Party Transactions made by the Company during the F.Y. 2020-21 that would require shareholder's approval under the Listing Regulations.

The approval of Members is being sought for Material Related Party Transactions for Sale of Goods to ChampionX Dai-ichi India Private Limited for FY 2021-22 at the ensuing AGM.

The Related Party Transactions are placed before the Audit Committee for approval. Prior omnibus approval of the Audit Committee is obtained for the transactions which are repetitive in nature. A statement of all Related Party Transactions is placed before the Audit Committee for its review on a quarterly basis, specifying the nature, value and terms and conditions of the transactions. Details of Related Party Transaction Policy are provided in Corporate Governance Report.

ANNUAL RETURN:

As required under Section 92(3) read with Section 134(3)(a) of the Companies Act, 2013 read with Rule 12 of the Companies (Management and Administration) Rules, 2014, the Annual Return of the Company as on March 31, 2021 is available on the website of the Company at http://www.dai-ichiindia.com/wp-content/uploads/2014/08/Draft-Annual-Return_2020-21.pdf CORPORATE GOVERNANCE:

A separate report on Corporate Governance in pursuance to SEBI (Listing Obligations and Disclosure Requirements) Regulations, is attached as a part of the Annual Report along with the certificate from Vinod Kothari & Company, Practicing Company Secretaries on its compliance.

LISTING:

The Equity Shares of your company are presently listed on BSE Limited and the Company has paid the annual listing fees for the financial year 2021-22.

HEALTH, SAFETY & ENVIRONMENT:

Health, Safety & Protection of the Environment are the priority areas for the Company. The Company continues to put special emphasis in this area at every stage, from conception and design of new products, optimization of process, to commercial manufacturing and delivery of goods to the customers. Recently company has successfully completed DNV-GL Periodic Audit of ISO 14001:2018 & OHSAS ISO 45001:2018 and received the certification in F.Y. 2020-21.

a) Health:

A special committee ensures good sanitation and hygienic condition in the plant and canteen. Medical examination of all the employees is carried out annually. Six monthly medical examinations are conducted for the employees who are working in Hazardous Areas. Health awareness trainings and programs are being conducted regularly. Company is practicing all government guidelines and precautions to ensure the employees remain safe during COVID-19. Thermal scanning, sanitization, social distancing and usage of N95 masks are made mandatory. Special programs are conducted to bring awareness amongst employees regarding COVID-19. RT-PCR test is mandatory for guests and visitors. The company has insured all its employees for COVID-19 treatment.

b) Safety:

Internal and External Safety Audit, regular inspections pertaining to risks and hazards for Ethoxylation/ Propoxylation process are carried out as per the provisions of Factories Act. New DCS system has been installed for Ethoxylation/ Propoxylation process to ensure enhanced safety features and automation to nullify human errors. HAZOP Study and Risk Assessment are carried out to identify the potential hazards as proactive measures to enhance safety. Appropriate corrective actions are implemented.

Un-planned Mock drills are conducted to ensure the Emergency preparedness as per the requirement of The Factories Act, 1948 & planned Mock drills are conducted to train the employees.

Every year Safety week is celebrated from 4th March to 11th March during which competitions, lectures and training sessions are organized to inculcate and enforce the need for a safe working environment and Emergency Planning.

"Goal Zero" campaign is started to achieve Zero accident, Zero incident & Zero pollution.

Despite having all safety measures in place, there was an unfortunate fire incident in one section of the plant in the month of Nov'20. There was no injury or loss of life during this incident. A detailed investigation was carried out along with a thorough safety audit of the plant. The necessary corrective and preventive actions have been put in place to ensure that no such incidents repeat in the future.

c) Environment:

Regular environment monitoring is carried out to ensure pollution levels for air and water are below the specified limits by the State Pollution Control Board. Strict adherence to environment rules is ensured by conducting inspections and environment audit.

Environment programs and trainings conducted to inculcate a sense of conservation of environment.

Effluent Treatment Plant is upgraded with SUF (submersible ultra-filtration) technology and treated effluent is used in various processes, thus, increasing water conservation. Vacuum pumps have been upgraded with closed loop circulation to minimize the water consumption. This has resulted in reduction of 1500 KL/month.

INDUSTRIAL RELATIONS:

The Industrial relations at Dahej and Kurkumbh Plants remained cordial and amicable during the financial year 2020-21.

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

The particulars relating to conservation of energy, technology absorption, foreign exchange earnings and outgo, as required to be disclosed under the Act, is annexed as ‘Annexure III'

DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013:

The Company has in place a Prevention of Sexual Harassment Policy in line with the requirements of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. An Internal Committee has been set up to redress complaints received regarding sexual harassment. All employees (permanent, contractual, temporary, trainees) are covered under this policy.

The following is a summary of sexual harassment complaints received and disposed off during the F.Y. 2020-21;

• No of complaints received: Nil

• No of complaints disposed off: Nil

ACKNOWLEDGEMENT:

Your Directors wish to place on record their appreciation of the contribution made by the employees of the Company. The Directors wish to convey their appreciation to the Banks, dealers and other business associates and the shareholders for their continuous trust and support.

CAUTIONARY NOTE:

Certain statements in the Directors' Report and Management Discussion and Analysis section may be forward looking and are stated as required by applicable laws and regulations. Many factors may affect the actual results, which could be different from what the Directors envisage in terms of future performance and outlook.

For and on behalf of the Board
Place: Mumbai Mrs. Shernaz Vakil
Date: May 10, 2021 Chairperson & Managing Director

   

Dai-ichi Karkaria Ltd Company Background

S F VakilS F Vakil
Incorporation Year1960
Registered OfficeLiberty Cinema Building,Sir Vithaldas Thackersey Marg
Mumbai,Maharashtra-400020
Telephone91-022-22017130/22015895,Managing Director
Fax91-022-22096976
Company SecretaryAnkit Shah
AuditorB S R & Co LLP
Face Value10
Market Lot1
ListingBSE,
RegistrarSharex Dynamic (India) Pvt Ltd
C-101 247 Park ,L B S Marg ,Vikhroli West ,Mumbai - 400083

Dai-ichi Karkaria Ltd Company Management

Director NameDirector DesignationYear
S F Vakil Chairperson & Managing Direct 2021
A H Jehangir Director 2021
K D Patel Independent Director 2021
K M Elavia Independent Director 2021
Meher Vakil Whole Time Director & COO 2021
Ashok V Hiremath Independent Director 2021
Ankit Shah Company Secretary 2021

Dai-ichi Karkaria Ltd Listing Information

Dai-ichi Karkaria Ltd Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Sale of Products NA 000106.13
Other Operating Revenue NA 0000.92
Services NA 0000.12
Oil Field NA 0000
Others NA 0000
Others Traded Ton0000
Textile NA 0000
Bulk Drugs Ton0000
Anionic/Cationic NA 0000
Non Ionic NA 0000
Speciality Chemicals Ton0000
Formulations No 0000
Flocculants NA 0000

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