Narmada Agrobase Director Report
BSE:543643 | NSE:NARMADABE | IND:Animal Feed/Processing | ISIN code:INE117Z01011 | SECT:Agriculture/Horticulture/Livestock
BSE
Change:
Volume:
Open:
Prv. Close:
Bid:
()
Offer:
()
NSE
Change:
Volume:
Open:
Prv. Close:
Bid:
()
Offer:
()
The Directors have pleasure in presenting their Integrated Annual Report of Narmada Agrobase Limited (“the Company”) along with Audited Annual Financial Statements for the Financial Year ended on 31st March 2024. Further, in compliance with the Companies Act, 2013 the Company has made all requisite disclosure in the Board’s Report with the objective of accountability and transparency in its operations and to make you aware about its performance and future perspective.
The Company’s performance during the year ended 31st March 2024 and the corresponding figures for the last year are as under:
(Amount in Lakhs)
Particulars |
For the Year Ended on 31st March 2024 |
For the Year Ended on 31st March 2023 |
Net Revenue |
5039.22 |
5007.63 |
Profit Before Interest, Depreciation & Tax |
258.91 |
206.86 |
Less: Finance Cost |
95.98 |
86.24 |
Less: Depreciation & Amortization Expense |
27.62 |
31.61 |
Profit / (Loss) Before Tax |
135.31 |
89.01 |
Less: Provision for Tax [Current] |
35.01 |
21.66 |
Less: Income Tax (JV) [Short / Excess Provision of IT W/off| |
0 |
0 |
Less: Deferred Tax (Assets) / Liabilities |
01.55 |
2.13 |
Less: Tax Adjustment of earlier year |
0.10 |
0 |
Profit / (Loss) After Tax |
101.94 |
65.22 |
Less: Proposed Dividend & Tax thereon |
- |
- |
Balance carried to Balance Sheet |
101.94 |
65.22 |
For the financial Year 2023-2024, your Company recorded net sales of Rs. 5039.22 Lakhs as against Rs. 5007.63 Lakhs in the previous year and thereby recording the increase in the net sales. Despite the tough market conditions faced by the industry, Company is striving hard to achieve the better results and the assured progressive growth in future.
Further for the Financial Year 2023-2024, the company achieved Profit of Rs. 101.94 Lakhs as compared to Rs. 65.22 Lakhs in the previous financial year.
No amount is transferred to general reserve. Surplus amount is carried to Profit & Loss A/c in Balance sheet. The Board of Directors has decided to retain the entire amount of profit for financial year 2023-24 in the statement of profit and loss.
The report credits the strength in domestic demand, driven by private consumption and investment, to government reforms and initiatives implemented over the past decade. Investments in both physical and digital infrastructure, along with measures to boost manufacturing, have bolstered the supply side, providing a significant boost to economic activity in the country.
According to the report, “In FY 25, real GDP growth will likely is closer to 7 per cent,” with the potential for the growth rate to surpass 7% by 2030.
The report highlights the ongoing expansion of digital infrastructure, improvements in institutional efficiency, technological progress through collaboration with foreign partners, accelerated human capital formation, and an increasingly favorable investment climate.
It projects that India is poised to become the third-largest economy globally in the next three years, reaching a GDP of USD 5 trillion.
The report states that “India can aspire to become a USD 7 trillion economy in the next six to seven years (by 2030).”
“This will be a significant milestone in the journey to delivering a quality of life and standard of living that match and exceed the aspirations of the Indian people.”
Factors contributing to the optimistic economic outlook include firm GDP growth forecasts, manageable inflation levels, political stability at the central government level, and indications that the central bank has concluded its tightening of monetary policy.
The Company continues to sustain its commitment to the highest levels of quality. Our focus on quality, productivity and innovations has helped us deliver increased value to our customers. The company is certified for ISO 9001:2015 (quality management Systems). Narmada has a flagship brand which commands a high reputation worldwide for quality products, efficient services and level of reliability as a stable supplier of quality products in cattle feed Industries. The products offered by us are processed using quality ingredients sourced from the selected vendors of the market. Before packaging and distributing, the raw material is inspected by the Quality Assurance team after being adequately graded and processed.
In order to plough back the profits for the activities of the company and strategy of growth in the business through enhancing manufacturing capacity, your directors do not recommend any dividend for the financial year.
There are no significant and material orders passed by the regulators or courts or tribunals impacting the going concern status and Company’s operations in future.
During the year under review, the Company has not changed the nature of business activity.
The Company has not accepted any deposits under the provisions of Section 73 of the Companies Act, 2013 read with Companies (Acceptance of Deposit) Rules, 2014 as amended from time to time, during the year under review and therefore details mentioned in Rule 8(5) (v) & (vi) of Companies (Accounts) Rules, 2014 relating to deposits, covered under Chapter V of the Act is not required to be given.
The Board of the Company comprises an optimum combination of executive and non-executive independent directors. As on the date of this report, Board of Directors of the Company comprises of total six (6) directors. The Composition of the Board of Directors and Key managerial personnel is as under:
NAME OF THE DIRECTOR |
CATEGORY AND DESIGNATION |
Neerajkumar Sureshchandra Agrawal |
Chairman, Managing Director & Chief Financial Officer |
Suresh Chand Kalyanmal Gupta |
Whole Time Director |
Ganesh Bhavarlal Prajapati |
Non-Executive Independent Director |
Nidhi Dineshbhai Patel |
Non-Executive Independent Director |
Pooja Aidasani |
Non-Executive Independent Director |
Gaurav Dineshkumar Agarwal |
Non-Executive Independent Director |
Nidhi Jain |
Company Secretary and Compliance officer |
In pursuant to provisions of Section 203 of the Companies Act, 2013 read with the applicable rules and other applicable provisions of the Companies Act, 2013, the designated Key Managerial Personnel (KMP) of the Company as on 31st March, 2024 are as follows:
NAME OF KMP |
CATEGORY AND DESIGNATION |
Neerajkumar Sureshchandra Agrawal |
Managing Director & Chief Financial Officer |
Suresh Chand Kalyanmal Gupta |
Whole-Time Director |
Nidhi Jain |
Company Secretary and Compliance officer |
Profile of Directors being Re-appointed
As required under Regulation 36(3) of the SEBI (LODR) Regulations, 2015, particulars of Directors seeking appointment/ re-appointment at the ensuing Annual General Meeting are annexed to this notice convening 12th Annual General Meeting.
None of the Directors of the Company is disqualified for being re-appointed as Director as specified in Section 164 (2) of the Companies Act, 2013.
The Company follows a policy on remuneration of Directors and Senior Management Employees. The policy has been approved by the Nomination & Remuneration Committee and the Board.
The policy on Remuneration of Directors, Key Managerial Personnel and Senior Employees can be accessed on website of the Company at following website of the company http://www.narmadaagrobase.com
The provisions of Section 135 of the Companies Act, 2013, in respect Corporate Social Responsibility are not applicable to the company.
The Company has received the necessary declarations from each Independent Director in accordance with Section 149(7) of the Act and Regulations 16(1)(b) and 25(8) of the SEBI Listing Regulations, that he / she meets the criteria of independence as laid out in Section 149(6) of the Act and Regulation 16(1)(b) of the SEBI Listing Regulations. In the opinion of the Board, there has been no change in the circumstances which may affect their status as independent directors of the Company and the Board is satisfied of the integrity, expertise, and experience (including proficiency in terms of Section 150(1) of the Act and applicable rules thereunder) of all Independent Directors on the Board.
Further, in terms of Section 150 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.
During the year under review, the Non-Executive Directors of the Company had no pecuniary relationship or transactions with the Company, other than sitting fees, commission and reimbursement of expenses, if any.
Company affirmed that the Directors being appointed are not debarred from holding the office of director by virtue of any SEBI order or any other such authority
In terms of Regulations 34 read with Schedule V of SEBI (LODR) Regulations and DPE Guidelines, a report on Corporate Governance for the year ended March 31, 2024 has been prepared and annexed as “Annexure I” to this Report. The Company’s Secretarial Auditor has issued a Certificate on Corporate Governance, which is appended to the Corporate Governance Report.
Management Discussion & Analysis report for the year under review as stipulated under Regulation 34(2) (e) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 is annexed as “Annexure II” hereto and forms part of this Report. For sake of brevity the items covered in Board’s Report are not repeated in the Management Discussion and Analysis Report.
All the directors of the company are non- disqualified and certificate for the same from the practicing Company Secretary in annexed as “Annexure III”.
> STATUTORY AUDITOR
At the Annual General Meeting held on 30th September 2021. M/s. Jain Kedia and Sharma Chartered Accountants were appointed as statutory auditors of the Company to hold office till the conclusion of the Annual General Meeting to be held in the year 2026.
The Notes on financial statements referred to in the Auditors report are self-explanatory and do not call for any further comments. The Auditor’s Report does not contain any qualification, reservation or adverse remark as submitted by M/s. Jain Kedia and Sharma Chartered Accountant
There is no incident of fraud requiring reporting by the Auditors under Section 143(12) of the Companies Act, 2013.
> SECRETARIAL AUDITOR REPORT
Pursuant to the Section 204 of Companies Act, 2013 read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company has appointed M/s Punit Lath Company Secretaries, in the Board Meeting held on 12th January 2024 to undertake the Secretarial Audit of the Company for the Financial Year 2023-2024.
The Secretarial Audit Report in Form MR-3 issued by Secretarial Auditor M/s Punit S. Lath, Company Secretary for the financial year ended on 31st March, 2024 is enclosed to this Report as “Annexure IV”. The Report does not contain does not contain any qualification, reservation or adverse remark.
> INTERNAL AUDITOR
In accordance with provision of Section 138 of the Companies Act, 2013 and Rules made thereunder, your Company has appointed Mr. Rajesh Kumar as the Internal Auditor of the Company for Financial Year 20232024 and takes their suggestions and recommendation to improve and strengthen the internal control system.
The Company has complied with all the applicable Secretarial Standards in the Financial Year 2023-24.
The company has internal financial control systems which are adequate in the opinion of board of Directors.
The Company has a proper system of internal controls to ensure that all assets are safeguarded and protected against loss from unauthorized use or disposition and that transactions are authorized recorded and reported correctly.
The internal control system is supplemented by an extensive program of internal and external audits and periodic review by the management. This system is designed to adequately ensure that financial and other records are reliable for preparing financial information and other data and for maintaining accountability of assets.
The Annual Return for financial year 2023-24 as per provisions of the Act and Rules thereto, is available on the Company’s website at https://narmadaagrobase.com/productimages/1717668953-documentfile-Draft%20Form MGT 7.pdf
Company has not given loans, guarantees or has investment which falls under section 186 of the Companies Act, 2013.
During the year, your Company has entered into transactions with related parties, which are in line with Related Party Transactions (RPTs) Policy. As per the threshold mentioned in the Policy, there was no material related party transaction with the Company’s Promoters, Directors, Management or their relatives, which could have had a potential conflict with the interests of the Company. Details are attached herewith in Form AOC-2 as “Annexure V”.
Proper steps have been taken to identify the risk and mitigate the risk to the level that least possible loss should incur.
In the opinion of the Board of Directors no risk is identified which may threaten the existence of the company.
Your company endeavors to become aware of different kinds of risks and bring together elements of best practices to mitigate such risk and to manage such risks.
Information required under section 134(3) (m) of the Companies Act, 2013 read with Rule 8 of the Companies (Accounts) Rules, 2014, is given herein below:
(a) Conservation of energy -
(i) Steps taken to conserve energy.
- Company’s operation does not consume significant amount of energy. However Company uses the LED lights and Five star rated power consuming equipments for conservation of energy. Further Company also strictly observes and control the efficient use of power on day to day basis.
(ii) The steps taken by the company for utilizing alternate sources of energy. -
The company has not taken any steps for utilizing alternate source of energy.
(iii) The capital investment on energy conservation equipments. -
Company has not made any capital investment specifically for conserving energy.
(b) Technology absorption -
(i) The effort made towards technology absorption. - Not applicable
(ii) The benefits derived like product improvement, cost reduction, product development or import substitution. - Not applicable
(iii) In case of imported technology. - Not applicable
(iv) The expenditure incurred on Research and Development. - Not applicable
(c) Foreign exchange earnings and outgo -
During the year, the total foreign exchange used was Rs. Nil and the total foreign exchange earned was US $ 11920.28 (INR 9,84,138).
The Company does not have any amount to its credit as required under the provision of section 124 of the Companies Act, 2013 to be transferred to the IEPF Account.
The Directors’ Responsibility Statement referred to in Clause (c) of Sub- section (5) of Section 134 of the Companies Act, 2013 shall state that
(a) in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;
(b) the director 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 and of the profit and loss of the company for that period;
(c) the director 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 have laid down internal financial controls which are being followed by the Company and that such internal controls are adequate and are operating effectively;
(f) the directors had devised proper system to ensure compliance with the provisions of all applicable laws and that such system were adequate and operating effectively.
The details of the top ten employees in terms of salary drawn and other information as per requirements of the Companies (Appointment and Remuneration of Managerial Personnel) are given under “Annexure VI” of the report.
Disclosures of the ratio of the remuneration of each director to the median employee’s remuneration and other details as required pursuant to Section 197(12) of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 as amended from time to time, are provided as “Annexure VII”.
Your Company is committed to creating and maintaining an atmosphere in which employees can work together without fear of sexual harassment, exploitation or intimidation. As required under the provisions of
Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013, your Company has constituted an Internal Complaints Committee.
No complaints were received by the committee during the year under review. Since the number of complaints filed during the year was NIL, the Committee prepared a NIL complaints report. This is in compliance with section 22 of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.
Pursuant to the Regulation 9 of SEBI (LODR), 2015 the Company has maintained the policy of preservation of documents to keep the documents preserve as per Regulation 9 (a) & 9 (b) of SEBI (LODR), 2015.
There was no fraud disclosed during current Financial Year.
There is no deviation in the use of proceeds from the objects stated in the offer document of IPO and there is no variation between projected utilization of funds made by it in its offer document of IPO pursuant to regulation 32 of SEBI (Listing Obligations and Disclosure Requirements, 2015.
The Board hereby confirms the entire utilization of the proceeds as stated above.
The Company is not required to maintain costs records as specified by the Central Government under subsection (1) of section 148 of the Companies Act, 2013.
The Company has not issued any shares with differential voting rights or Sweat Equity shares or shares under ESOP. The Company has not provided any money to its employees for purchase of its own shares hence the company has nothing report in respect of Rule 4(4), Rule (13), Rule 12(9) and Rule 16 of the Companies (Share Capital & Debentures) Rules, 2014.
The Equity Shares of the Company were listed on SME Platform of National Stock Exchange of India Limited (NSE Emerge) in FY 2018-19. The Company got migrated to Main Board of National Stock Exchange of India and simultaneously got listed on BSE Limited on 27th October 2022. The Company is regular in payment of Annual Listing Fees. The Company has paid Listing fees up to the year 2023-24.
KFin Technologies Limited
Address: Tower- B, Plot No. 31 & 32, Selenium building Gachibowli Road Financial District, Nanakramguda, Serilingampally Mandal, Hyderabad, Telangana 500032
Contact No: 040 6716 2222
The directors place on record their sincere appreciation for the assistance and co-operation extended by Bank, its employees, its vendors, investors and for their continuous support and all other associates and look forward to continue fruitful association with all business partners of the company.
Your Directors are also thankful to the shareholders for the trust and confidence reposed in the Company and look forward to their continued support to propel the Company to greater heights.
Your Directors also wish to place on record their deep sense of appreciation for the committed services by the Company’s Executives and Workmen for progress and prosperity of the Company.
For and on behalf of the Board of Directors NARMADA AGROBASE LIMITED
Chairman & Managing Director Neeraj S. Agrawal DIN: 06473290
Date: 18th June, 2024 Place: Ahmedabad
Nifty 50 Stocks
- Titan Company Share Price
- Divi's Laboratories Share Price
- LTIMindtree Share Price
- ITC Share Price
- Bharat Petroleum Corporation Share Price
- Wipro Share Price
- Hero MotoCorp Share Price
- Hindalco Industries Share Price
- Apollo Hospitals Enterprise Share Price
- State Bank of India Share Price
- Tata Steel Share Price
- Sun Pharmaceutical Industries Share Price
- Shriram Finance Share Price
- Asian Paints Share Price
- UltraTech Cement Share Price
- NTPC Share Price
- JSW Steel Share Price
- Eicher Motors Share Price
- Hindustan Unilever Share Price
- IndusInd Bank Share Price
- HDFC Bank Share Price
- SBI Life Insurance Company Share Price
- Axis Bank Share Price
- Power Grid Corporation of India Share Price
- Dr. Reddy's Laboratories Share Price
- Adani Enterprises Share Price
- Tech Mahindra Share Price
- Reliance Industries Share Price
- Oil And Natural Gas Corporation Share Price
- Tata Consumer Products Share Price
- ICICI Bank Share Price
- Cipla Share Price
- Adani Ports & Special Economic Zone Share Price
- Grasim Industries Share Price
- Infosys Share Price
- Coal India Share Price
- Bajaj Auto Share Price
- Tata Consultancy Services Share Price
- Maruti Suzuki India Share Price
- Mahindra & Mahindra Share Price
- Kotak Mahindra Bank Share Price
- Tata Motors Share Price
- Bharti Airtel Share Price
- HCL Technologies Share Price
- Bajaj Finserv Share Price
- HDFC Life Insurance Company Share Price
- Larsen & Toubro Share Price
- Bajaj Finance Share Price
- Britannia Industries Share Price
- Nestle India Share Price
Top Gainer Stocks
- Gujarat Fluorochemicals Share Price
- JM Financial Share Price
- Caplin Point Laboratories Share Price
- KEC International Share Price
- Craftsman Automation Share Price
- Cholamandalam Financial Holdings Share Price
- Laurus Labs Share Price
- Sunteck Realty Share Price
- Zomato Share Price
- Concord Biotech Share Price
Top Loser Stocks
- CCL Products India Share Price
- Prestige Estates Projects Share Price
- PCBL Share Price
- Oil India Share Price
- Raymond Share Price
- Amara Raja Energy & Mobility Share Price
- Garden Reach Shipbuilders & Engineers Share Price
- Mazagon Dock Shipbuilders Share Price
- Chambal Fertilisers & Chemicals Share Price
- Torrent Power Share Price
Most Searched Stocks
- Indian Railway Finance Corporation Share Price
- One97 Communications Share Price
- YES Bank Share Price
- ITC Share Price
- HDFC Bank Share Price
- Tata Motors Share Price
- Zomato Share Price
- Adani Enterprises Share Price
- Infosys Share Price
- Reliance Industries Share Price
- Adani Power Share Price
- Vedanta Share Price
- Indian Renewable Energy Development Agency Share Price
- NHPC Share Price
- State Bank of India Share Price
- Rail Vikas Nigam Share Price
- Life Insurance Corporation of India Share Price
- Tata Steel Share Price
- Tata Consultancy Services Share Price
- Tata Power Company Share Price
- Wipro Share Price
- Adani Green Energy Share Price
- Indian Railway Catering & Tourism Corporation Share Price
- Suzlon Energy Share Price
- Punjab National Bank Share Price
- Hindustan Aeronautics Share Price
- Jio Financial Services Share Price
- NBCC (India) Share Price
- Bharat Heavy Electricals Share Price
- Polycab India Share Price
- SJVN Share Price
- IDFC First Bank Share Price
- ICICI Bank Share Price
- Tata Technologies Share Price
- Central Depository Services (India) Share Price
- Ircon International Share Price
- Jaiprakash Power Ventures Share Price
- MRF Share Price
- Power Finance Corporation Share Price
- Delta Corp Share Price
- Steel Authority of India (SAIL) Share Price
- Indian Oil Corporation Share Price
- Affle (India) Share Price
- Bajaj Finance Share Price
- Asian Paints Share Price
- Avenue Supermarts Share Price
- Indian Energy Exchange Share Price
- REC Share Price
- HDFC Asset Management Company Share Price
- Vodafone Idea Share Price
- Housing and Urban Development Corporation Share Price
- Reliance Power Share Price
- Adani Total Gas Share Price
- Bank of Baroda Share Price
- Birlasoft Share Price
Quick Links
Narmada Agrobase Ltd. Quick Links
Cash Flow Statement
Half Yearly Results
Capital Structure
Chairman's Speech
Company History
Locations
Dividends
Splits
Competitors
Date Sources:Live BSE and NSE Quotes Service: TickerPlant | Corporate Data, F&O Data & Historical price volume data: Dion Global Solutions Ltd.
BSE Quotes and Sensex are real-time and licensed from the Bombay Stock Exchange. NSE Quotes and Nifty are also real time and licenced from National Stock Exchange. All times stamps are reflecting IST (Indian Standard Time).
By using this site, you agree to the Terms of Service and Privacy Policy.