Your Directors present their 58th Annual Report on the business and operations of the Company and the audited financial statements for the year ended 31st March 2026.
Financial Summary and Highlights
? in lakhs
| |
2025-26
|
2024-25
|
|
Profit / (Loss) for the year before tax
|
|
(4,211.61)
|
|
(2,840.33)
|
|
Less: Tax Expense -
|
|
|
|
|
|
Current Tax
|
166.98
|
|
-
|
|
|
Deferred Tax
|
444.87
|
|
(637.70)
|
|
| |
|
611.85
|
|
(637.70)
|
|
Profit / (Loss) for the year after tax
|
|
(4,823.46)
|
|
(2,202.63)
|
|
Other Comprehensive income for the year
|
|
(74.63)
|
|
123.54
|
|
Total Comprehensive income for the year
|
|
(4,898.09)
|
|
(2,079.09)
|
During the year under review, the Company’s sales and other income was ?70,879.78 lakhs as compared to ?51,983.57 lakhs during the previous year. The production of Calcined Petroleum Coke (CPC) was 1,34,585 MT as compared to 1,56,894 MT during the previous year. The sales of CPC were 1,56,117 MT for the period under review as compared to 1,53,487 MT for the previous year.
For detailed discussion on the performance and state of affairs of the Company during the year, please refer to the Management and Discussion Analysis, forming part of this Report.
Dividend and Transfer to Reserve
In view of the losses incurred by the Company:
i) your Directors have not recommended any dividend for the financial year ended 31st March 2026;
ii) no amount has been transferred to reserve for the financial year ended 31st March 2026.
Credit Rating
The ratings given to the Company by Acuite Ratings & Research Limited during the financial year ended 31st March 2026 is given below:
i) Long term borrowing: ACUITE BBB /Stable;
ii) Short term borrowing: ACUITE A2
Subsidiary Companies
The Company did not have any subsidiary as on 31st March 2026.
Accreditation
The Company continues to enjoy ISO 9001 & ISO 14001 accreditation made by BUREAU VERITAS.
Public Deposits
The Company has not invited public for accepting deposits in terms of Chapter V of the Companies Act, 2013. The Company has complied with the provisions of Section 73 of the Companies Act, 2013 and the Rules made thereunder.
Change in the nature of business
There has been no change in the nature of business of the Company.
Directors
Appointment / Re-appointment
Based on the recommendations of the NRC, the Board, in terms of the provisions of the Companies Act, 2013, approved the re-appointment Mr. Subodh Nadkarni (DIN: 00145999) as an Independent Director of the Company for a second term of 5 (five) consecutive years with effect from 7th January 2026. On 15th December 2025, the Shareholders of the Company, by way of a Special Resolution passed through postal ballot, reappointed Mr. Subodh Nadkarni as an Independent Director of the Company for a second term of 5 (five) consecutive years with effect from 7th January 2026 to 6th January 2031.
Mr. Shrinivas Dempo (DIN: 00043413) retires by rotation at the forthcoming Annual General Meeting and being eligible has offered himself for re-appointment. Approval of the Members is being sought at the ensuing Annual General Meeting for his
re-appointment and the requisite details in this connection are contained in the Notice convening the meeting.
The disclosures required pursuant to Regulation 36 of the SEBI Listing Regulations, Clause 1.2.5 of the Secretarial Standard are given in the Notice of AGM, forming part of the Annual Report.
Independent Directors' Declarations
All Independent Directors of the Company have given declarations under Section 149(7) of the Companies Act, 2013 that they meet the criteria of independence as laid down under Section 149(6) of the Companies Act, 2013 and Regulation 16 of the SEBI Listing Regulations and have also confirmed that they are not aware of any circumstance or situation, which exist or may be reasonably anticipated, that could impair or impact their ability to discharge their duties with an objective independent judgment and without any external influence.
Further, the Board after taking these declarations/disclosures on record and acknowledging the veracity of the same, concluded that the Independent Directors are persons of integrity and possess the relevant expertise and experience to qualify as Independent Directors of the Company and are Independent of the Management.
The Board opines that all the Independent Directors of the Company strictly adhere to corporate integrity and possess the requisite expertise, experience and qualifications to discharge the assigned duties and responsibilities as mandated by the Companies Act, 2013 and Listing Regulations diligently.
Directors and Officers Insurance ('D&O')
On a voluntary compliance basis, the Company has taken Directors and Officers Insurance ('D&O') for all its Directors and members of the Senior Management pursuant to the requirements of Regulation 25(10) of the SEBI Listing Regulations.
Registration of Independent Directors in Independent Directors Databank
All the Independent Directors of the Company have been registered and are members of Independent Directors Databank maintained by the Indian Institute of Corporate Affairs, pursuant to Rule 6 of the Companies (Appointment and Qualification of Directors) Rules, 2014. They are also in compliance with the requirement of Online Proficiency SelfAssessment Test.
Key Managerial Personnel
In terms of the Section 203 of the Companies Act, 2013, following are the Key Managerial Personnel (KMP) of the Company as on the date of this report:
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Sr.
No.
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Name of the KMP
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Designation
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1
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Mr. Anupam Misra (DIN: 09615362)
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Executive Director
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|
2
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Mr. Vikrant Garg (ACA 508132)
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Chief Financial Officer
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3
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Mr. Pravin Satardekar (ACS 24380)
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Company Secretary
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Meetings of the Board of Directors
A minimum of four Board meetings are held annually. Additional Board meetings are convened by giving appropriate notice to address the Company's specific needs. In case of business exigencies or urgency of matters, resolutions are passed by circulation.
During the year under review, 4 (four) Board meetings were held, the details of which are given in the Corporate Governance Report which forms part of this Report.
Committees of the Board
The Committees of the Board focus on certain specific areas and make informed decisions in line with the delegated authority.
The following Committees constituted by the Board function according to their respective roles and defined scope:
Ý Audit Committee
Ý Nomination and Remuneration Committee
Ý Corporate Social Responsibility Committee
Ý Stakeholders' Relationship Committee
Details of composition, terms of reference and number of meetings held for respective committees are given in the Report on Corporate Governance, which forms a part of this Annual Report. During the year under review, all material recommendations made by the various committees have been accepted by the Board.
Policy on Director's appointment, remuneration and other details
The Committee has formulated a Nomination and Remuneration Policy and the same has been uploaded on the website of the Company at www.goacarbon.com
The salient features of the Nomination and Remuneration Policy is included in this Report as Annexure - I.
Board Evaluation
The annual evaluation process of the Board of Directors ("Board”), Committees and individual Directors was carried out in the manner prescribed in the provisions of the Companies Act, 2013, Guidance Note on Board Evaluation issued by Securities and Exchange Board of India on 5th January 2017
and as per the Corporate Governance requirements prescribed by SEBI Listing Regulations.
The performance of the Board, Committees and individual Directors was evaluated by the Board seeking inputs from all the Directors. The performance of the Committees was evaluated by the Board seeking inputs from the Committee Members. The Nomination and Remuneration Committee reviewed the performance of the individual Directors, a separate meeting of Independent Directors was also held to review the performance of Non-Independent Directors; performance of the Board as a whole and performance of the Chairperson of the Company, taking into account the views of the Executive Director and Non-Executive Directors. This was followed by a Board meeting that discussed the performance of the Board, its Committees and individual Directors.
The criteria for performance evaluation of the Board included aspects like Board composition and structure; effectiveness of Board processes, information and functioning, etc. The criteria for performance evaluation of Committees of the Board included aspects like composition and structure of the Committees, functioning of Committee meetings, contribution to decision of the Board, etc. The criteria for performance evaluation of the individual Directors included aspects on contribution to the Board and Committee meetings like preparedness on the issues to be discussed, meaningful and constructive contribution and inputs in meetings, integrity etc. In addition, the Chairman was also evaluated on the key aspects of his role.
Familiarization Programme for Independent Directors
The details of the Familiarisation Programme for Independent Directors with the Company in respect of their roles, rights, responsibilities in the Company, nature of the industry in which Company operates, business model of the Company and related matters are put up on the website of the Company at www.goacarbon.com
Internal Control System
The Board has laid down adequate Internal Financial Controls ("IFC”) within the meaning of the Explanation to Section 134(5) (e) of the Companies Act, 2013, which are commensurate with the nature, size and complexity of the Company’s business. The Board believes that the Company has a robust IFC framework to ensure the orderly and efficient conduct of its business, including the safeguarding of assets, prevention and detection of frauds and errors, accuracy and completeness of accounting records, and timely preparation of reliable financial information.
The Board also recognises that the business environment is dynamic and that internal financial controls are not static but continue to evolve in response to changes in business operations, technology, regulatory requirements, industry
practices and the evolving risk landscape. Accordingly, the Company has established a continuous process to identify control gaps, assess emerging risks and strengthen or implement new controls, wherever necessary, to ensure that any such gaps do not have a material impact on the Company’s operations or financial reporting.
Statutory Auditors
Pursuant to provisions of Section 139 of the Companies Act, 2013 read with the Companies (Audit and Auditors) Rules, 2014, in the 54th Annual General Meeting of the Company held on 28th July 2022, M/s. B S R & Co. LLP, Chartered Accountants (Registration No. 101248W/W-100022) were appointed as Statutory Auditors of the Company for a second term of 5 (five) years to hold office till the conclusion of 59th Annual General Meeting of the Company.
Statutory Auditors' Observations
The notes on financial statements referred to in the Auditors’ Report for the financial year ended 31st March 2026 are self-explanatory and therefore, do not call for any further explanations or comments.
There are no qualifications, reservations or adverse remarks or disclaimer made by M/s. B S R & Co. LLP, Chartered Accountants (Registration No. 101248W/W-100022), Statutory Auditors in their report for the financial year ended 31st March 2026 which requires any clarification or explanation.
Cost Auditor
Pursuant to the provisions of Section 148 of the Companies Act, 2013 and the applicable rules made thereunder, the Board of Directors, on the recommendation of the Audit Committee, has appointed M/s. Joshi Apte and Associates, Cost Accountants, as the Cost Auditors of the Company for the financial year 2026-27. The Board has approved a remuneration of ?2,00,000/- (Rupees Two lakhs only), plus applicable taxes and reimbursement of out-of-pocket expenses, payable to the Cost Auditors, subject to the ratification of such remuneration by the shareholders at the ensuing 58th Annual General Meeting. The Company has maintained the cost records as specified under Section 148(1) of the Companies Act, 2013, read with the applicable rules, and such records shall be audited by the aforesaid Cost Auditors for the financial year 2026-27.
Secretarial Auditor
The Shareholders of the Company in their 57th AGM held on 9th September 2025 appointed CS Shivaram Bhat, Practicing Company Secretary (ACS 10454, CP 7853, Peer Review: 1775/2022) as Secretarial Auditor of the Company for a term of 5 (five) consecutive years from the financial year 2025-26 to the financial year 2029-30. He has also confirmed that he is not disqualified from continuing as Secretarial Auditor of the Company in terms of provisions of the Companies Act, 2013 & Rules made thereunder and SEBI Listing Regulations.
The Secretarial Audit Report for the financial year ended 31st March 2026 forms a part of this Report.
There is no qualification, reservation, adverse remark or disclaimer by the Secretarial Auditors in their Secretarial Audit Report.
Reporting of Frauds by Auditors
During the year under review, the Auditors, have not reported any instances of frauds committed in the Company by its Officers or Employees to the Audit Committee under Section 143(12) of the Companies Act, 2013, details of which needs to be mentioned in this Report.
Secretarial Standards
In terms of Section 118(10) of the Companies Act, 2013, the Company complies with Secretarial Standards 1 and 2, relating to the 'Meetings of the Board of Directors' and 'General Meetings’ respectively as specified by the Institute of Company Secretaries of India and approved by the Central Government.
The Company has also voluntarily adopted the recommendatory Secretarial Standard-3 on 'Dividend’ and Secretarial Standard-4 on 'Report of the Board of Directors' issued by the Institute of Company Secretaries of India.
Vigil Mechanism / Whistle Blower Policy
The Company has established a Vigil Mechanism/ Whistleblower Policy for the employees to report their genuine concerns or grievances and the same has been posted on the Company's website www.goacarbon.com.
The Audit Committee of the Company oversees the Vigil Mechanism.
Risk Management
The Company has established a comprehensive Risk Management Framework for the identification, assessment, monitoring and mitigation of risks that may impact the achievement of its strategic and operational objectives. The framework enables the Company to identify key risks and opportunities, evaluate them based on their likelihood and potential impact, and implement appropriate mitigation measures.
The Company follows well-defined risk assessment and risk minimisation procedures, which are periodically reviewed by the Audit Committee and the Board of Directors to ensure their continued effectiveness and relevance. The Senior Management supports the Board in overseeing the management of key strategic, operational, financial, regulatory and other business risks by implementing appropriate policies, processes and internal controls under the overall Risk Management Framework. This ongoing process enables the Company to respond effectively to the evolving business
environment while safeguarding stakeholder interests and creating sustainable value.
Particulars of loans, guarantees or investments and loans/advances availed from Director/Promoter/Promoter Group Entities
The details of loans, guarantees and investments covered under the provisions of Section 186 of the Companies Act, 2013 together with the loans/advances availed from Director/ Promoter/Promoter Group Entities, if any, are given in the notes to financial statements.
Related Party Transactions
All transactions entered into with related parties as defined under the Companies Act, 2013 and Regulation 23 of the SEBI Listing Regulations, each as amended, during the year under review were on an arm's length price basis and in the ordinary course of business. These have been approved by the Audit Committee. Certain transactions repetitive in nature were approved through an omnibus route by the Audit Committee. The Audit Committee takes into consideration the management representation and in certain cases an independent audit consultant's report, whilst scrutinizing and approving all related party transactions, from the perspective of fulfilling the criteria of meeting arms’ length pricing and being transacted in the ordinary course of business.
Details of transactions with related parties, as specified in Indian Accounting Standards (IND AS 24), have been reported in the Financial Statements. During the year under review, there was no transaction of a material nature with any of the related parties, which conflicted with the interests of the Company.
The Company had not entered into any contract / arrangement / transaction with related parties which is required to be reported in Form No. AOC-2 in terms of Section 134(3)(h) read with Section 188 of the Companies Act, 2013 and Rule 8(2) of the Companies (Accounts) Rules, 2014.
The details of RPTs during financial year 2025-26, including transactions with a person or entity belonging to the promoter/ promoter group which hold(s) 10% or more shareholding in the Company are provided as mentioned above in the accompanying financial statements. During the financial year 2025-26, 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, as applicable. Pursuant to the requirements of the Companies Act, 2013 and the SEBI Listing Regulations the Company has formulated a policy on RPTs and is available on the Company's website URL: http://www.goacarbon.com/ downloads/Related Party Transaction Policy.pdf
Significant and material orders passed by the Regulators or Courts
There were no significant material orders passed by the Regulators / Courts / Tribunals which would impact the going concern status of the Company and its future operations. However, Members attention is drawn to the Statement on Contingent liabilities, comments in the notes forming part of the Financial Statements and section of Management Discussion and Analysis.
Material changes and commitment, if any, affecting financial position of the Company from financial year end and till the date of this report
There have been no 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 this Report.
Particulars of employees and related disclosures
The information 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 are provided in the Annexure - II to this Report.
The statement containing particulars of top 10 employees and the employees drawing remuneration in excess of limits prescribed under Section 197 (12) of the Companies Act, 2013 read with Rule 5 (2) and (3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is provided in a separate Annexure forming part of the Report. In terms of proviso to Section 136(1) of the Companies Act, 2013, the Report and Accounts are being sent to the Members excluding the aforesaid Annexure. The said statement is also open for inspection. Any member interested in obtaining a copy of the same may write to the Company Secretary. None of the employees listed in the said Annexure are related to any Director of the Company.
Disclosures under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013
In accordance with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the rules made there under, the Company has formulated an internal Policy on Sexual Harassment at Workplace (Prevention, Prohibition and Redressal).
The policy aims at educating employees on conduct that constitutes sexual harassment, ways and means to prevent occurrence of any such incident, and the mechanism for dealing with such incident in the unlikely event of its occurrence.
The Company has complied with the provisions relating to the constitution of an Internal Complaint Committee (ICC) under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 by setting up the said Committee.
The ICC is responsible for redressal of complaints related to sexual harassment of women at the workplace in accordance with procedures, regulations and guidelines provided in the Policy.
The following is a summary of sexual harassment complaints received and disposed off during the year:
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a.
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Number of complaints pending as on 1st April 2025
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Nil
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b.
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Number of complaints filed during the period 1st April 2025 to 31st March 2026
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Nil
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c.
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Number of complaints disposed of during the period 1st April 2025 to 31st March 2026
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Nil
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|
d.
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Number of complaints pending for more than 90 days
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Nil
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e.
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Number of complaints pending as on 31st March 2026
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Nil
|
Disclosure under the Maternity Benefit Act, 1961
The Company has duly complied with the provisions under the Maternity Benefit Act, 1961.
Energy Conservation, Technology Absorption, Foreign Exchange Earnings and Outgo
The particulars relating to energy conservation, technology absorption, foreign exchange earnings and outgo, required to be disclosed by Section 134 (3)(m) of the Companies Act, 2013 read with Rule 8(3) of the Companies (Accounts) Rules, 2014 (as amended) are provided in the Annexure - III to this Report.
Investor Education and Protection Fund (IEPF)
Pursuant to the provisions of Section 124 of the Companies Act, 2013 and other applicable provisions of the Companies Act, 2013 and rules made thereunder, unclaimed dividend amount of ?15,03,340.00 of the Company for the Financial Year 2017-18 (Final) have been transferred to IEPF established by the Central Government pursuant to Section 125 of the Companies Act, 2013 on 5th September 2025.
During the year under review, 6,156 equity shares have been transferred to IEPF Authority under Section 125 (2) of the Companies Act, 2013 and the IEPF (Accounting, Audit, Transfer and Refund) Rules, 2016.
The details of the nodal officer appointed by the Company under the provisions of IEPF are as under:
Name: Pravin Satardekar, Company Secretary Email: legal@goacarbon.com
For the Financial Year ended 31st March 2025, the Company reported a net loss of approximately 728.40 Crore, with a net worth of approximately 7217 Crore and a turnover of approximately 7508 Crore.
As the Company’s net worth was less than Rupees Five Hundred Crores, Turnover less than Rupees One Thousand Crores and Net-profit calculated as per Section 198 of Companies Act, 2013 was less than Rupees Five Crores, the Company was not obligated to incur CSR expenditure for the Financial Year 202526 as the thresholds prescribed under the provisions of Section 135(1) of the Companies Act, 2013 were not met.
Notwithstanding the above, and as part of its commitment towards social responsibility and sustainable development, the Company voluntarily undertook certain CSR-related initiatives during the year under review, in accordance with its internal policies. These special CSR-related initiatives were discussed by the CSR Committee/Board over email and decided through circular resolution.
Annual Return
The annual return of the company as on 31st March 2026, in terms of the provisions of Section 134(3)(a) of the Companies Act, 2013 is available on the company’s website: www. goacarbon.com.
Corporate Governance
It has been the endeavor of your Company to follow and implement best practices in corporate governance, in letter and spirit. The following forms part of this Report:
Information in respect of unclaimed dividend when due for transfer to IEPF are given below:
|
Financial year ended
|
Date of Declaration
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Unclaimed Amount as on 31.03.2026
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Due date of transfer to IEPF
|
|
31.03.2022
|
28.07.2022
|
711,37,991.00
|
02.09.2029
|
|
31.03.2023
|
17.08.2023
|
718,27,261.50
|
18.09.2030
|
|
31.03.2024 16.01.2024 (Interim)
|
710,48,718.00
|
20.02.2031
|
|
31.03.2024 10.09.2024 (Final)
|
713,12,530.00
|
14.10.2031
|
Corporate Social Responsibility (CSR)
Pursuant to Section 135 of the Companies Act, 2013 read with rules made there under, your Directors have constituted the Corporate Social Responsibility (CSR) Committee.
Composition of the CSR Committee:
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Sr.
|
|
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Name of the Director
|
Chairman / Member
|
|
No.
|
|
1 Mr. Shrinivas Dempo
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Chairman
|
|
2 Mr. Subhrakant Panda
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Member
|
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3 Mr. Anupam Misra
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Member
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(i) Declaration regarding compliance of Code of Conduct by Board Members and Senior Management Personnel;
(ii) Management Discussion and Analysis;
(iii) Corporate Governance Report and;
(iv) Practicing Company Secretary’s Certificate regarding compliance of conditions of corporate governance;
Directors' Responsibility Statement
Based on the framework of internal financial controls and compliance systems established and maintained by the Company, work performed by the internal auditors, statutory auditors, secretarial auditors and any other external agencies, if any, including audit of internal financial controls over financial reporting by the statutory auditors and the reviews performed by Management and the Audit Committee, the Board is of the opinion that the Company’s internal financial controls were adequate and effective during the financial year 2025-26.
Accordingly, pursuant to Section 134(5) of the Companies Act, 2013, the Board of Directors, to the best of their knowledge and ability, confirm:
(a) that in the preparation of the annual accounts, the applicable accounting standards have been followed along with the proper explanation relating to material departures;
(b) that such accounting policies as mentioned in Notes to the annual accounts have been selected and applied consistently and judgement and estimates have been made that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at 31st March 2026 and of the loss of the Company for the year ended on that date;
(c) that 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) that the annual accounts have been prepared on a going concern basis;
(e) that proper internal financial controls are in place and that the internal financial controls are adequate and are operating effectively;
(f) t hat proper systems to ensure compliance with the provisions of all applicable laws are in place and that such systems are adequate and operating effectively.
Environment, Health and Safety
The Company remains committed to conducting its operations in a safe, responsible and environmentally sustainable manner. Protection of the environment, conservation of natural
resources, and the health and safety of employees, contractors and neighbouring communities continue to be integral to the Company’s business philosophy and operational practices.
The Company follows a proactive approach towards Safety, Health and Environment (SHE) by integrating safety and environmental considerations into all aspects of its operations. Continuous efforts are made to minimise the environmental footprint through efficient utilisation of resources, adoption of cleaner technologies, optimisation of energy consumption, reduction of emissions, and responsible waste management. The Company also continues to explore opportunities for the use of alternative and sustainable sources of energy, while promoting the principles of resource efficiency and the circular economy.
Safety remains a core organisational value. The Company strives to foster a strong safety culture through structured policies, regular training, awareness programmes, risk assessments, audits and continuous monitoring of key safety performance indicators. These initiatives are aimed at strengthening operational discipline, enhancing productivity and ensuring safe and reliable operations across all locations.
The Company has established a centralised Safety, Health and Environment (SHE) framework to provide strategic direction, standardise practices and monitor implementation across its manufacturing units. Occupational health continues to receive focused attention through periodic medical surveillance, preventive healthcare initiatives and employee wellness programmes. Process safety also remains a key area of focus, with emphasis on maintaining asset integrity, operational reliability and effective risk management. The Board is committed to continually strengthening the Company’s SHE standards and practices with the objective of achieving sustainable growth while creating long-term value for all stakeholders and contributing positively to the environment and society.
Prevention of Insider Trading Code
As per SEBI (Prohibition of Insider Trading) Regulation, 2015, the Company has adopted a Code of Conduct for Prevention of Insider Trading. The Company has appointed Mr. Pravin Satardekar, Company Secretary as Compliance Officer, who is responsible for setting forth procedures and implementing of the code for trading in Company’s securities.
Reconciliation of Share Capital Audit
As required by the SEBI Listing Regulations, quarterly audit of the Company’s share capital is being carried out by an
independent Practicing Company Secretary with a view to reconcile the total share capital admitted with NSDL and CDSL and held in physical form, with the issued and listed capital. The Practicing Company Secretary’s Certificate in regard to the same is submitted to BSE and the NSE.
Application / Proceeding pending under the Insolvency and Bankruptcy Code,
2016 ("IBC")
During the year under review, no application was made under IBC by or against your Company and no proceeding is pending under IBC.
Disclosure on one-time settlement
During the year under review, the Company has not entered into any one-time settlement with the Banks or Financial Institutions who have extended loan or credit facilities to the Company.
Human Resource
The Company firmly believes that its employees are its most valuable asset and that their capabilities, commitment and continuous development are fundamental to its long-term success. Accordingly, the Company remains committed to attracting, developing and retaining talent by providing learning and development opportunities that enable employees to enhance their skills, build competencies and adapt to the evolving business environment.
The Company continues to foster a culture of engagement, collaboration and mutual respect through effective communication, employee development initiatives and transparent people practices. Industrial relations remained cordial and harmonious throughout the year across all its manufacturing units and offices. The Company values constructive dialogue with employees and their representatives and remains committed to maintaining a positive work environment that supports operational excellence, employee well-being and sustainable business growth.
Appreciation and Acknowledgement
Your Directors place on record their sincere appreciation for the continued support, co-operation and assistance received from the Central and State Governments, regulatory authorities, banks and financial institutions, customers, suppliers, business associates and members during the year under review. The Directors also express their deep appreciation for the dedication, commitment and valuable contribution of the Company’s employees at all levels.
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