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

NSE BSE
 

Volume 280564

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Key Stats

MARKET CAP (RS CR) 33.65
P/E 9.4
BOOK VALUE (RS) 85.4080268
DIV (%) 10
MARKET LOT 800
EPS (TTM) 18.62
PRICE/BOOK 2.04898774221535
DIV YIELD.(%) 0.57
FACE VALUE (RS) 10
DELIVERABLES (%)
4

News & Announcements

13-Nov-2021

Board of G M Polyplast recommends interim dividend

08-Nov-2021

G M Polyplast to cponsider dividend

03-Aug-2021

G M Polyplast to hold AGM

27-Jul-2021

G M Polyplast to hold board meeting

13-Nov-2021

Board of G M Polyplast recommends interim dividend

08-Nov-2021

G M Polyplast to cponsider dividend

03-Aug-2021

G M Polyplast to hold AGM

27-Jul-2021

G M Polyplast to hold board meeting

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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Share Holding

Category No. of shares Percentage
Total Foreign 2400 0.13
Total Institutions 0 0.00
Total Govt Holding 0 0.00
Total Non Promoter Corporate Holding 324000 16.85
Total Promoters 1414000 73.54
Total Public & others 182400 9.48
Total 1922800 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About G M Polyplast Ltd

G M Polyplast Ltd Chairman Speech

G M Polyplast Ltd Company History

G M Polyplast Ltd Directors Reports

To,

The Members

G M Polyplast Limited

(Formerly known as G M Polyplast Private Limited)

The Directors present the 18th Annual Report (1st Post Listing) of G M Polyplast Limited (Formerly known as G M Polyplast Private Limited) (the Company) along with the audited financial statements for the financial year ended March 31, 2021.

1. Financial Summary or Highlights:

During the financial year under review, performance of your company as under:

 

(Amount in Rs.)

Particulars March 31, 2021 March 31, 2020
Revenue from Operations 52,14,37,108 63,14,53,430
Other Income 22,58,308 28,44,193
Total Revenue 52,36,95,416 63,42,97,623
Less: Expenses
Cost of materials consumed 40,82,98,543 52,41,59,603
Change in inventories of Finished goods, work-in-progress and stock-in-trade (27,69,429) 28,21,258
Other Manufacturing expenses 1,99,70,889 2,42,19,745
Employee Benefit Expense 1,21,05,658 1,46,44,880
Other Expenses 2,84,65,923 2,82,78,138
Total Expenses 46,60,71,584 59,41,23,624
Earnings before exceptional items, extraordinary items, interest, tax, depreciation & amortization (EBITDA) 5,76,23,832 4,01,73,999
Finance Costs 42,06,357 23,19,411
Depreciation 58,01,123 78,02,534
Profit before exceptional items, extraordinary items & tax 4,76,16,352 3,00,52,055
Exceptional items - -
Profit before extraordinary items & tax 4,76,16,352 3,00,52,055
Extraordinary items – Prior Period item - 7,83,132
Profit before Tax 4,76,16,352 2,92,68,923
Current Tax Expenses 1,37,00,000 87,40,000
Tax Expense relating to prior years - (22,634)
Deferred Tax Expenses (11,82,431) (23,79,421)
Profit for the year after tax 3,50,98,783 2,29,30,978
Earnings Per Share (of Rs. 10/- each)
Basic & Diluted 20.02 14.33

The above figures are extracted from the Financial Statements prepared in accordance with accounting principles generally accepted in India including the Accounting Standards specified under section 129 and 133 of the Companies Act, 2013 ("the Act") read with the Companies (Accounts) Rules, 2014 and other relevant provisions of the Act.

The detailed financial statement as stated above are available on the Company's website at http:// www.gmpolyplast.com/

2. State of company's affairs:

For the financial year ended 31st March, 2021, gross revenues and other income is Rs. 52,36,95,416/-(Fifty Two Crores Thirty Six Lakhs Ninety Five Thousand Four Hundred and Sixteen Rupees-) compared to gross revenues and other income of Rs. 63,42,97,623/- (Sixty Three Crores Forty Two Lakhs Ninety Seven Thousand Six Hundred Twenty Three Rupees) for the Financial Year 31st March, 2020.

The company has made a net profit of Rs. 3,50,98,783/- (Three Crore Fifty Lakh Ninety Eight Thousand Seven Hundred Eighty Three Rupees) for the year ended 31st March, 2021 as compared to the previous year net profit of Rs. 2,29,30,978/- (Two Crores Twenty Nine Lakhs Thirty Thousand Nine Hundred Seventy Eight Rupees) for the year ended 31st March, 2020.

3. Initial Public Offer And Listing Of Shares:

The Company was converted into a Limited Company and is known as G M Polyplast Limited (Formerly known as G M Polyplast Private Limited) by passing special resolution in the meeting of the members of the Company held on July 06, 2020

The members of the Company had passed the Special Resolution in Extra Ordinary General Meeting held on August 30, 2020 for listing its Equity shares on SME Platform of BSE Limited ("SME Exchange"). M/S. Gretex Corporate Services Private Limited acted as Merchant Banker and Lead Manager to execute the listing procedure in compliance with SEBI (Issue of Capital & Disclosure Requirements) Regulations, 2018, SEBI (Listing Obligation & Disclosure Requirements) Regulations, 2015 & Securities Contract Regulation Act, 1956.

The equity shares of your Company are listed on Bombay Stock Exchange (BSE) Limited with effect from October 14, 2020 pursuant to Initial Public Offer of the Company.

4. Dividend:

During the year, your Board was pleased to declare an Interim Dividend of Re. 1/-(One Rupee) per equity share of face value Rs.10/- in the Board Meeting held on Tuesday, February 16, 2021. The Company has not proposed any final dividend in the current year.

5. Transfer of unclaimed dividend to Investor Education and Protection Fund:

During the Financial year 2020-2021, no amount was due to be transferred to the Investor Education and Protection Fund, as there was no unpaid/unclaimed Dividend for a period as prescribed in the Companies Act 2013.

6. Transfer to Reserves:

During the Financial year 2020-2021,no amount was transferred to the Reserves for the year under review.

7. Changes in Capital Structure:

The Authorized Share Capital of the Company is Rs. 2,00,00,000/- (Two Crores Rupees) divided into 20,00,000 (Twenty Lakhs) Equity shares of Rs. 10/- each.

During the financial year under review, the Board of Director in their meeting held on Monday, June 22, 2020 had allotted, in the ratio of 15:1, 15,00,000 (Fifteen Lakh) equity shares, having a nominal value of Rs. 10/- (Ten Rupees) each aggregating to Rs. 1,50,00,000/- (One Crore Fifty Lakh Rupees) as fully paid bonus shares to the shareholders determined as on the date of issue of the company

The paid up Equity Share Capital as at March 31, 2021 stood at Rs. 1,92,28,000 /- (One Crore Ninety Two Lakhs Twenty Eight Thousand Rupees) divided into 19,22,800 (Nineteen Lakhs Twenty Two Thousand Eight Hundred)Equity Shares of Rs 10/- each.

8. Details of directors or key managerial personnel who were appointed or have resigned during the year:

The Board of Directors of your Company ("the Board") comprised of 5 (Five) Directors, constituted as follows:

Managing Director – 1; Executive Women Director – 1; Non-Executive Directors – 1;, Independent Directors - 2.

Your Directors on the Board possess the requisite expertise, experience, integrity, competency and proficiency and are renowned in their respective fields. All Directors are liable to retire by rotation except Independent Directors and Managing Director, whose term of office is for a term of 5 years.

The changes in the Board of directors of the company were as follows:

i. Mr. Subramanian Ramaswamy Vaidya (DIN: 03600249) was duly appointed as an Independent Director of the Company for a term of five consecutive years commencing from September 03, 2020.

ii. Mr. Dinesh Ravjibhai Rathod (DIN: 08854988), was duly appointed as an Independent Director of the Company for a term of five consecutive years commencing from September 03, 2020.

Retirement by Rotation:

As per the provisions of the Companies Act, 2013, Mr. Balbirsingh Bholuram Sharma (DIN: 00374565) is due to retire by rotation and being eligible, offer himself for re-appointment at the 18th (1st Post Listing) Annual General Meeting of the Company. A detailed profile of, Mr. Balbirsingh Bholuram Sharma seeking appointment/re-appointment is provided in the Notice of the 18th (1st Post Listing) Annual General Meeting of the Company.

Declaration by Independent Directors:

Pursuant to Section 149 (7) of the Companies Act, 2013 ("the Act") read with the Companies (Appointment and Qualifications of Directors) Rules, 2014, the Company has received declarations from all the Independent Directors of the Company confirming that they meet the ‘criteria of Independence' as prescribed under Section 149 (6) of the Act and have submitted their respective declarations as required under Section 149 (7) of the Act and the Listing Regulations.

In terms of Section 150 of the Act read with Rule 6 of the Companies (Appointment and Qualification of Directors) Rules, 2014, as amended, Independent Directors of the Company have included their names in the data bank of Independent Directors maintained with the Indian Institute of Corporate Affairs.

Familiarization programme for Independent Director:

The Company proactively keeps its Directors informed of the activities of the Company, it's Management and operations and provides an overall industry perspective as well as issues being faced by the industry in the Familiarization programme conducted for the Independent Directors of the Company. The Familiarization programme is available on the website of Company at http://www.gmpolyplast.com/"

Key Managerial Personnel:

Mr. Tushar Nitinchandra Pandya was appointed as Chief Financial Officer and Ms. Dimple Amrit Parmar was appointed as Company Secretary and Compliance Officer, (Key Managerial Personnel(s)) of the Company in the meeting of the Board of Directors held on August 30, 2020.

In terms of the provisions of Sections 2 (51) and 203 of the Companies Act, 2013 read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the following employees were holding the position of Key Managerial Personnel (‘KMP') of the Company as on March 31, 2021:

Mr. Dinesh Balbirsingh Sharma - Managing Director Mrs. Sarita Dinesh Sharma - Executive Director Mr. Tushar Nitinchandra Pandya - Chief Financial Officer

Ms. Dimple Amrit Parmar - Company Secretary and Compliance Officer

9. Annual Performance Evaluation:

The Board of Directors has carried out an annual evaluation of its own performance, board committees, and individual directors pursuant to the provisions of the Act and Listing Regulations. The performance of the Board was evaluated after seeking inputs from all the Directors based on criteria such as the composition of the Board and its committee, effectiveness of board processes, information and functioning, etc.

In a separate meeting of Independent Directors, performance of Non-Independent Directors, the Board as a whole and the Managing Director of the Company was evaluated, taking into account the views of the Executive Director and NEDs.

10. Meetings of the Board and its Committee

BOARD

The Board meets at regular intervals to discuss and decide on the Company's performance and strategies. During the financial year under review, the Board met 9 (nine) times. The meetings were held on June 22, 2020, August 30, 2020, September 05, 2020, September 23, 2020, September 24, 2020, October 10, 2020, November 09, 2020, December 11, 2020, and February 16, 2021.

Sr. No. Name of Director Designation No of meetings attended No of meetings entitled to attend Whether AGM held on 30/09/2020 attended
1 Mr. Dinesh Balbirsingh Sharma Managing Director 9 9 Yes
2 Mr. Balbirsingh Bholuram Sharma Non-Executive Director 9 9 Yes
3 Mrs. Sarita Dinesh Sharma Executive Director 9 9 Yes
4 Mr. Subramanian Ramaswamy Vaidya* Independent Director 6 7 Yes
5 Mr. Dinesh Ravjibhai Rathod* Independent Director 7 7 Yes

*Appointed w.e.f. September 03, 2020

AUDIT COMMITTEE

Your Company has constituted an Audit Committee on September 05, 2020 with its composition, quorum, powers, roles and scope in line with the applicable provisions of the Act and Listing Regulations. During the financial year under review, the Audit Committee reviewed the internal controls put in place to ensure that the accounts of your Company are properly maintained and that the accounting transactions are in accordance with prevailing laws and regulations. In conducting such reviews, the Committee found no material discrepancy or weakness in the internal control system of your Company. The Committee has also reviewed the Policy and procedures for assessing and managing the risks.

During the financial year under review, all recommendations made by the Audit Committee were accepted by the Board.

The Composition of Audit Committee and the attendance of Members at the Meeting during FY 2020- 21 were as under:

Sr. No. Name of Member Designation No of meetings attended No of meetings entitled to attend Whether AGM held on 30/09/2020 attended
1 Mr. Dinesh Ravjibhai Rathod (Chairman) Independent Director 1 1 Yes
2 Mr. Subramanian Ramaswamy Vaidya Independent Director 1 1 Yes
3 Mr. Dinesh Balbirsingh Sharma Managing Director 1 1 Yes

The Company has a qualified and independent Audit Committee, and its composition is in line with the applicable provisions of Section 177 of the Act and Regulation 18 of Listing Regulation. During the financial year under review, the Committee met 1 (one) time.

The meeting was held on February 16, 2021.

NOMINATION AND REMUNERATION COMMITTEE

Your Company has constituted a Nomination and Remuneration Committee on September 05, 2020 with its composition, quorum, powers, roles and scope in line with the applicable provisions of the Act and Listing Regulations.

The Composition of Nomination and Remuneration Committee and the attendance of Members at the meeting during FY 2020-21 were as follows:

Sr. No. Name of Member Designation No of meetings attended No of meetings entitled to
1 Mr. Subramanian Ramaswamy Vaidya (Chairman) Independent Director 1 1
2 Mr. Dinesh Ravjibhai Rathod Independent Director 1 1
3 Mr. Balbirsingh Bholuram Sharma Non-Executive Director 1 1
4 Mrs. Sarita Dinesh Sharma Executive Director 1 1

The Company has a qualified and independent Nomination & Remuneration Committee, and its composition is in line with the applicable provisions of Section 178 of the Act and Regulation 19 of Listing Regulation. During the financial year under review, the Committee met 1 (One) time.

The meeting was held on February 16, 2021.

The Nomination and Remuneration Committee had formulated a policy on remuneration under the provisions of Section 178(3) of the Act and the same is attached as Annexure I to this report.

STAKEHOLDER RELATIONSHIP COMMITTEE

Your Company has constituted a Stakeholder Relationship Committee on September 05, 2020 with its composition, quorum, powers, roles and scope in line with the applicable provisions of the Act and Listing Regulations.

The Composition of Stakeholder Relationship Committee and the attendance of Members at the meeting during FY 2020-21 were as follows:

Sr. No. Name of Member Designation No of meetings attended No of meetings entitled to attend
1 Mr. Dinesh Ravjibhai Rathod (Chairman) Independent Director 1 1
2 Mr. Subramanian Ramaswamy Vaidya Independent Director 1 1
3 Mr. Balbirsingh Bholuram Sharma Non-Executive Director 1 1
4 Mrs. Sarita Dinesh Sharma Executive Director 1 1

The Company has a qualified and independent Stakeholder Relationship Committee, and its composition is in line with the applicable provisions of Regulation 20 of Listing Regulation. During the financial year under review, the Committee met 1 (One) time.

The meeting was held on February 16, 2021.

MANAGEMENT COMMITTEE

Your Company has constituted a Management Committee on February 16, 2021 with Mr. Dinesh B. Sharma, Mrs. Sarita D. Sharma and Mr. Balbirsingh Sharma as its members in order to carry out the day to day business activities as required for administrative and other general purposes with ease.

No meeting of management committee was held during the year 2020-2021.

11. Material changes and commitments, if any, affecting the financial position of the company which have occurred between the end of the financial year of the company to which the financial statements relate and the date of the report:

There were no material changes and commitments affecting the financial position of the Company from end of the financial year up to the date of this Report.

12. Details of significant and material orders passed by the regulators or courts or tribunals impacting the going concern status and company's operations in future:

There was no significant or material order passed by any regulator or court or tribunal, which impacts the going concern status of the company or will have bearing on company's operations in future.

13. Details in respect of frauds reported by auditors under sub-section (12) of section 143:

During the financial year under review, there were no frauds reported by the auditors under sub-section (12) of section 143.

14. Explanations or comments by the Board on every qualification, reservation or adverse remark or disclaimer made by the auditor in their report:

There are no qualifications, reservations or adverse remarks or disclaimer made by the auditor in their report.

15. Particulars of contracts or arrangements with related parties referred to in sub-section (1) of section 188:

During the financial year under review, the Company has entered into related party transactions covered u/s. 188 of the Companies Act, 2013. Therefore, disclosure in Form AOC- 2 for the financial year 2020-21 is annexed with this report as Annexure II.

16. Loans from Directors/Relatives of Directors:

The company has not accepted any loans from the directors of the Company or their relatives.

17. Auditors:

STATUTORY AUDITOR

Pursuant to Section 139 of Companies Act, 2013 and other applicable rules there under, M/s. Anay Gogte & Co., Chartered Accountants, (Firm Registration No 100398W) were appointed as Statutory Auditor of the Company for 5 consecutive financial years commencing from conclusion of 17th Annual General Meeting till the conclusion of 22nd Annual General Meeting of the Company to be held for the financial year ending March 31, 2025.

Accordingly, Anay Gogte & Co., Chartered Accountants shall continue to be the Statutory Auditors of the Company for F.Y 2021-22.

The Audit report submitted by the Statutory Auditor does not contain any adverse remark or observations.

INTERNAL AUDITOR

The Board of directors has appointed M/s. Vivek V. Joshi & Associates, Chartered Accountants as the internal auditor of the company on the recommendations of the Audit Committee for F.Y. 2020-21; The Internal Auditor conducts the internal audit of the functions and operations of the Company and reports to the Audit Committee and Board from time to time.

COST RECORDS AUDITOR

Maintenance of cost records and requirement of cost audit as prescribed under the provisions of Section 148(1) of the Act, are not applicable for the business activities carried out by your Company.

SECRETARIAL AUDITOR

Pursuant to the requirements of Section 204 (1) of the Companies Act, 2013 read with Rule 9 of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company has appointed M/s. Dipesh Jain & Co., Practicing Company Secretaries to conduct the secretarial audit for the financial year under review. The Secretarial Audit Report in Form MR-3 for the financial year under review as received from M/s. Dipesh Jain & Co., Practicing Company Secretaries is attached as Annexure III to this report. The Secretarial Audit Report does not contain any qualifications, reservations or adverse remarks.

However, it was observed by the Secretarial Auditor, that

1. The Company was not able to open the Bank Account for the purpose of Interim Dividend within a period of Five days. The Board of Directors hereby clarify that the same was due to administrative difficulties in the process of opening the same with the bank. The Bank took considerably longer time to open the said account. However, the further process pertaining to the dividend was duly complied with.

18. Share Transfer System

All share transfer, dematerialization and related work is managed by Registrar and Share Transfer Agent (RTA). M/s Bigshare Services Pvt. Ltd., 1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis, Makwana Road, Marol, Andheri East, Mumbai, Maharashtra, 400059, is your Company's RTA. All share transfer requests, demat/remat requests, correspondence relating to shares i.e. change of address, Power of Attorney, etc. should be addressed to the registrar and transfer agents.

19. Changes in the nature of business of the company:

During the financial year under review, there was no change in the nature of business of the company.

20. Particulars of loans, investments, guarantees or securities under section 186:

During the financial year under review, the company has not provided any loan; made any investment; has given any guarantee or provided any security in respect of any loan to any person as mentioned in Section 186 of the Companies Act, 2013

21. Conservation of energy, technology absorption, foreign exchange earnings and outgo:

 

a. Conservation of Energy and Technology Absorption

In terms of requirements of Section 134(3)(m) of the Companies Act, 2013 read with Rule 8(3) of the Companies (Accounts) Rules, 2014 with respect to conservation of energy, the board of directors wish to inform the members that the company always takes necessary measures to conserve the energy wherever possible by installing electronic equipments which marginally reduce the consumption of electricity, with reference to the same the Company has installed solar Panels at the Factory site, and by spreading awareness among the employees of the company about the optimum utilization and conservation of electricity and water resources of the company.

The management always searches for and takes into consideration new developments in the market and the technology so as to absorb the new technology in carrying out the business activities of the company.

 

b. Foreign Exchange Earnings And Outgo

Foreign Exchange Earnings - Rs. 3,66,07,086 Foreign Exchange Outgo - Rs. 2,17,20,323

22. Annual Return

In compliance with provisions of Section 134(3)(a) of the Companies Act, 2013, the Annual Return as per Section 92(3) of the Companies Act, 2013, is available at http://www.gmpolyplast.com

23. Details of performance of subsidiaries, associates and joint venture companies:

The company does not have any subsidiary company, associate company or joint venture during the year under review.

24. Statement indicating development and implementation of a risk management policy for the company including identification therein of elements of risk, if any, which in the opinion of the Board may threaten the existence of the company:

Your company understands that risk evaluation and risk mitigation is a function of the board of directors of the company. The Board is fully committed to developing a sound system for identification and mitigation of applicable risks - viz., systemic and non-systemic - on a continuous basis. The board is of the opinion that at present, there are no material risks that may threaten the very existence and functioning of your company.

25. Details in respect of adequacy of internal financial controls with reference to the Financial Statements:

a) Your directors hereby report that, your company has maintained adequate internal controls commensurate with its size and its nature of the operation. There are suitable monitoring procedures in place to provide reasonable assurance for accuracy and timely reporting of the financial information and compliance with the statutory requirements. There are proper policies, guidelines and delegation of powers issued for the compliance of the same across the company.

b) For the purpose of ensuring accuracy in the preparation of the financials, your company has implemented various checks and balances like periodic reconciliation of major accounts, review of accounts, obtaining confirmation of various balances and proper approval mechanism.

c) Your company has documented all major processes in the area of expenses, bank transactions, payments, statutory compliances and period end financial accounting process. Your company is continuously putting its efforts to align the processes and controls with the best practices in the industry.

d) The Company has appointed M/s. Vivek V. Joshi & Associates, Chartered Accountants as the internal auditor of the company. The report of the said auditor is periodically reviewed and suggestions were implemented by the Audit Committee and the Board.

26. Public Deposits:

During the year under review, the Company has not accepted or renewed any deposits within the meaning of Section 73 and 76 of the Companies Act, 2013 read with Companies (Acceptance of Deposits) Rules, 2014.

27. Company's policy on directors' appointment and remuneration including criteria for determining qualifications, positive attributes, independence of a director and other matters provided under sub-section (3) of section 178:

The Committee has formulated the Nomination and Remuneration Policy which broadly laid down the various principles of remuneration including criteria for determining qualifications, positive attributes, independence of a director and other matters provided under sub-section (3) of section 178 and covers the procedure for selection, appointment and compensation structure of Board members, Key Managerial Personnel (KMPs) and Senior Management Personnel (SMPs) of your Company.

28. Safeguard at workplace:

The management takes due care of employees with respect to safeguard at workplace. Further, no complaints are reported by any employee pertaining to sexual harassment and hence no complaint is outstanding as on 31.03.2021 for redressal. There was no case filled during the year, under the sexual harassment of women at workplace (Prevention, Prohibition & Redressal) Act, 2013. Further Company ensures that there is a healthy and safe atmosphere for every women employee at the workplace and made the necessary policies for safe and secure environment for women employee.

Complaints as on 01.04.2020: NIL

Complaints filed during the Financial Year: NIL Complaints as on 31.03.2021: NIL

29. Vigil Mechanism/Whistle Blower Policy

The Company has formulated a Whistle Blower Policy to establish a vigil mechanism for Directors and employees of the Company to report concerns about unethical behavior, actual or suspected fraud or violation of the company's code of conduct or ethics policy. The Whistle Blower Policy is available on the website of the Company at http://www.gmpolyplast.com/

30. Disclosure Of Employees Remuneration

The disclosure as per Rule 5 of The Companies (Appointment and Remuneration of the Managerial Personnel) Rule 2014 is annexed as Annexure IV to this Board Report.

31. Corporate Governance:

The company is SME Company and listed on SME exchange of BSE Limited therefore, pursuant to Regulation 15(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, the compliance with corporate governance as specified in regulation 17 to 27 and clauses (b) to (i) of sub regulation 2 of regulation 46 and Para C, D and E of Schedule V shall apply to the extent that it does not violate their respective statutes and guidelines or directives issued by the relevant authorities. Hence your company is exempted to comply with aforesaid provisions of the SEBI (LODR) Regulation, 2015. Hence corporate Governance does not form part of this Board's Report.

.32. Directors' Responsibility Statement:

Your directors, to the best of their knowledge and belief and according to the information and explanations obtained by them and as prescribed under Section 134(5) of the Companies Act, 2013 state that:

a. in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any;

b. 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 and loss of the company for that period;

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

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

e. 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.

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

33. Compliances of applicable Secretarial Standards:

The Company has devised proper systems to ensure compliance with the provisions of all applicable Secretarial Standards issued by the Institute of Company Secretaries of India and such systems are adequate and operating effectively. During the year under review, the Company was in compliance with the Secretarial Standards (SS) i.e., SS-1 and SS- 2, relating to "Meetings of the Board of Directors" and "General Meetings", respectively.

34. Management Discussion And Analysis Report

The Management Discussion and Analysis Report as required under Schedule V of the SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015 forms part of this report and is attached as

Annexure V.

35. Insider Trading

The Board of Directors has adopted the Inside Trading Policy in accordance with the requirement of the Securities & Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015. The Inside Trading Policy of the company lays down guidelines and procedure to be followed, and disclosure to be made while dealing with shares of the company as well as consequences of violation. The policy has been formulated to regulate, monitor and ensure reporting of deals by employees and to maintain the highest ethical standards of dealing in the company's shares. The Company had in place a Code of Conduct for Prevention of Insider Trading and Corporate Disclosure Practices, in accordance with the SEBI (Prohibition of Insider Trading) Regulations, 2015.

Accordingly, the Board approved and adopted: a) Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information; and b) Code for Fair Disclosures and Conduct The codes referred above is placed on the Company's website http://www.gmpolyplast.com/

36. General

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

a. Issue of equity shares with differential rights as to dividend, voting or otherwise;

b. The Company does not have any scheme of provision of money for the purchase of its own shares by employees or by trustees for the benefit of employees;

c. No fraud has been reported by the Auditors to the Audit Committee or the Board.

d. There are no shares lying in demat suspense account/unclaimed suspense account. Hence no disclosure is required to be given for the same.

e. The Company has not developed and implemented any Corporate Social Responsibility initiatives as the provisions of section 135 of the Companies Act, 2013 along with Companies (Corporate Social Responsibility Policy) Rules, 2014 are not applicable."

37. Acknowledgement:

Your directors wish to thank the stakeholders of the company for their continued support and co-operation and employees for their dedication and the excellence they have displayed in conducting the business operations of the company.

For and on behalf of the Board of Directors

G M Polyplast Limited

(Formerly known as G M Polyplast Private Limited)

Dinesh Sharma Sarita Sharma
Managing Director Director
DIN: 00418667 DIN: 00128337
Place : Mumbai
Date : August 02, 2021

   

G M Polyplast Ltd Company Background

Dinesh Balbirsingh Sharma
Incorporation Year2003
Registered OfficeA-66 New Empire Industrial Est,Kondivita Road Andheri East
Mumbai,Maharashtra-400059
Telephone91-22-2820 9552,Managing Director
Fax
Company SecretaryDimple Amrit Parmar
AuditorAnay Gogte & Co
Face Value10
Market Lot800
ListingBSE - SME,
RegistrarBigshare Services Pvt Ltd
1st Flr Bharat Tin W,Makwana Road Marol ,Andheri (East) ,Mumbai - 400059

G M Polyplast Ltd Company Management

Director NameDirector DesignationYear
Dinesh Balbirsingh SharmaManaging Director2020
Sarita Dinesh SharmaExecutive Director2020
Balbirsingh Bholuram SharmaNon Executive Director2020
Dinesh Ravjibhai RathodIndependent Director2020
Subramanian R VaidyaIndependent Director2020
Dimple Amrit ParmarCompany Secretary2020

G M Polyplast Ltd Listing Information

Listing Information
BSESMEIPO

G M Polyplast Ltd Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Manufactured Goods NA 00063.0319
Job Work NA 0000.1134
Other Operating Income NA 0000

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