To
The Members,
RAJGOR CASTOR DERIVATIVES LIMITED
(Previously Known as Rajgor Castor Derivatives Private Limited)
The Directors of your Company with immense pleasure, presenting the 7th
Annual Report on the business and operation of the company together with Audited Financial
Statements and the Auditors Report of your Company for the Financial Year ended on 31st
March, 2025.
1. FINANCIAL HIGHLIGHTS:
(Amount In Rupees)
| Particulars |
Current Year 31.03.2025 |
Previous Year 31.03.2024 |
| Revenue from Operations |
6,254,003,567 |
5,648,357,605 |
| Other Income |
19,719,739 |
14,66,182 |
| Total Revenue |
6,273,723,306 |
5,649,823,787 |
| Total Expenditure (Including Change in Inventories) |
6,134,572,977 |
5,513,423,466 |
| Profit Before Tax |
139,150,329 |
136,400,321 |
| Less: Tax expense/ Deferred tax liability |
49,075,393 |
38,562,063 |
| Profit after Tax |
90,074,936 |
97,838,258 |
| Earnings Per Share (Basic) |
3.77 |
5.18 |
| Earnings Per Share (Diluted) |
- |
- |
2. RESULTS OF OPERATIONS AND THE STATE OF COMPANY'S AFFAIRS:
The Key highlights pertaining to the business operations of the Company for the year
2024-25 have been given
hereunder:
• The total revenue from operation of the Company during the financial year
2024-25 is Rs. 6,254,003,567/- against the previous year's revenue of Rs. 5,648,357,605/-.
• The Company has earned net profit of Rs. 90,074,936/- against the previous
year's Profit of Rs 97,838,258/-.
• The Company has actively engaged and expanded in export activities as part of
its strategic expansion into international markets. Company's products were exported to
various countries contributing to revenue diversification and increased global market
presence. Company has generated revenue from export of Rs. 21,06, 10, 391/- against the
previous year's export of Rs. 3,96,92,641/-
Your directors are optimistic about the Company's business and hopeful of better
performance with increased
revenue and profit in the coming year.
3. DIVIDEND:
Your Company has earned a net profit (after tax) of Rs. 90,074,936/- as against Rs.
97,838,258/- in the previous year.
The Board has recommended a dividend of Rs. 0.10 per share for the financial year ended
March 31, 2025, whereas
your directors also recommended dividend for the year ended 31st March, 2024
of Rs. 0.10 per share.
Dividend pay-out is in accordance with the Company's dividend distribution policy. The
dividend, if approved by the members at the ensuing Annual General Meeting, would involve
a cash outflow of about Rs. 23,92,000. The dividend will be paid after deduction of tax at
source to those Shareholders whose names appear in the Register of Members as on the
Record Date. The Dividend Distribution Policy containing the requirements mentioned in
Regulation 43A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015, can be accessed on the Company's website at www.raigorcastor.com.
4. TRANSFER OF AMOUNTS TO INVESTOR EDUCATION AND PROTECTION FUND:
Your Company did not have any funds lying unpaid or unclaimed for a period of seven
years. Therefore, there were no funds which were required to be transferred to Investor
Education and Protection Fund (IEPF).
However, your company has transferred Rs. 11,220 in unclaimed and unpaid dividend
account as part of unclaimed dividend declared for the FY ended on 31st March
2024. Details of statement of unpaid/ unclaimed divided, pursuant to Section 124 of
Companies Act, 2013 is uploaded on the Company's website at www.rajgorcastor.com.
5. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND
OUTGO:
Information on conservation of Energy, Technology absorption, Foreign Exchange earnings
and outgo required to be disclosed under Section 134 of the Companies Act, 2013, read with
Companies (Accounts) Rules, 2014 are annexed in "Annexure- I".
6. CHANGE IN THE NATURE OF BUSINESS:
There are no changes in the nature of business during the year.
7. TRANSFER TO RESERVES:
The Company has transferred Rs. 90,074,936/- to reserves.
8. SHARE CAPITAL:
• AUTHORISED SHARE CAPITAL
As on 31st March, 2025, the Company has authorized share capital of Rs.
24,00,00,000/- (Rupees Twenty-Four Crore Only) divided into 2.4 crore equity shares of Rs.
10/- each.
• ISSUED, SUBSCRIBED AND PAID-UP SHARE CAPITAL
As on 31st March, 2025, the Issued, subscribed and Paid-Up Capital is Rs.
23,91,58,520/- (Rupees Twenty-Three Crore, Ninety-One Lakh, Fifty-Eight Thousand, Five
Hundred and Twenty Only) divided into 2,39,15,852 equity shares of Rs. 10/- each.
9. SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES:
I. As on 31st March, 2025, the Company does not have any Subsidiaries,
Associates and joint ventures company as per Companies Act, 2013.
II. As on 31st March, 2025, the Company has sister concerned companies which
are having common Management and Relative of director in the company respectively name as
follows;
• Rajgor Agro Limited
• Rajgor Proteins Limited
• Rajgor Industries Private Limited
• Exaoil Refinery limited
• Koovey Oleo Science Private Limited
• Rajgor Logistics Private Limited
• TTL Enterprises Limited
• Rajgor Enterprises Private Limited
10. RELATED PARTY DISCLOSURES:
During the year transaction with related parties referred to in sub-section (1) of
section 188 of the Companies Act, 2013, annexed herewith in Form AOC-2 as "Annexure
II".
11. CHANGES IN MEMORANDUM AND ARTICLES OF ASSOCIATION:
During the Financial Year 2024-25 Company did not make any amendment in Memorandum of
Association (MOA) and Articles of Association (AOA).
12. BOARD MEETINGS:
The Board meets at regular intervals to discuss and take a view on the Company's
policies and strategy apart from other Board matters. The notice for the board meetings is
given well in advance to all the Directors.
During the year, the Board of Directors met (7) Six times and board meetings were held
on the following dates as mentioned in the table:
Sr. No. |
Date of Meeting |
Board Strength |
No. of Directors Present |
| 1. |
29.05.2024 |
5 |
5 |
| 2. |
28.08.2024 |
5 |
5 |
| 3. |
04.09.2024 |
7 |
7 |
| 4. |
29.10.2024 |
6 |
6 |
| 5. |
14.11.2024 |
6 |
6 |
| 6. |
20.01.2025 |
6 |
6 |
| 7. |
31.03.2025 |
6 |
6 |
13. DIRECTOR'S RESPONSIBILITY STATEMENT:
Pursuant to the requirement under Section 134(5) of the Companies Act, 2013, it is
hereby confirmed that:
I. That in the preparation of the annual accounts for the financial year ended 31st
March 2025, as per the applicable accounting standards have been followed and that there
were no material departures;
II. That the Directors had selected such accounting policies and applied them
consistently and made judgments and estimates that were reasonable and prudent so as to
give a true and fair view of the state of the affairs of the company at the end of the
financial year and of the profit of the company for the year under review;
III. That the Directors had taken proper and sufficient care 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 a fraud and
other irregularity.
IV. That the Directors have prepared the annual accounts for the year ended 31st
March, 2025, on a "going concern basis."
V. That the Directors had laid down internal financial controls to be followed by the
company and that such internal financial controls are adequate and were operating
effectively;
VI. That the Directors had devised proper systems to ensure compliance with the
provisions of all applicable laws and that systems were adequate and operating
effectively.
14. DEPOSITS:
During the year under review, your Company has not accepted or renewed any deposits
within the meaning of provisions of Chapter V - Acceptance of Deposits by Companies of the
Companies Act, 2013, read with the Companies (Acceptance of Deposits) Rules, 2014, and
there remains no unpaid or unclaimed deposit with the Company at the end of financial
year.
15. SECRETARIAL STANDARDS
The Company complies with all applicable secretarial standards issued by the Institute
of Company Secretaries of India.
16. DIRECTORS AND KEY MANAGERIAL PERSONNEL:
The Company's Board is duly constituted and is in compliance with the requirements of
the Companies Act, 2013, SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, as applicable on the Company and provisions of the Articles of
Association of the Company. The Company's Board has been constituted with requisite
diversity, wisdom and experience commensurate to the business of your Company.
The Directors on the Board have experience in the field of manufacturing, accounts,
finance, legal, statutory compliance.
None of the Directors are disqualified under the provisions of Companies Act, 2013 and
SEBI (LODR) Regulations, 2015, as at March 31, 2025.
COMPOSITION OF BOARD AND KMP
Sr. no. |
Name of director/KMP |
Designation |
1. |
Brijeshkumar Vasantlal Rajgor |
Managing Director |
| 2. |
Vasantkumar Shankarlal Rajgor |
Executive Director |
| 3. |
Maheshkumar Shankarlal Rajgor |
Chairman and Non-Executive NonIndependent Director |
| 4. |
Nishit Dushyant Shah |
Independent Director |
| 5. |
Dipika Pradeep Soni |
Independent Director |
| 6. |
Himali Maheshbhai Thakkar |
Independent Director |
| 7. |
Varun Ajaybhai Patel |
Chief Financial officer |
| 8. |
Yash Vijay Rathore |
Company Secretary & Compliance Officer |
APPOINTMENT/REAPPOINTMENT/CHANGE OF DIRECTORS OR KEY MANAGERIAL PERSONNEL:
During the year, The Company has appointed 2 independent directors named Ms. Dipika
Pradeep Soni and Ms. Himali Maheshbhai Thakkar on the board meeting held 28th
August, 2024 as Additional Independent Directors, and their appointment were regularized
in 6th Annual General Meeting held on 28th September, 2024.
During the year, Ms. Shivangi Gajjar has resigned from the post of Independent Director
of the Company w.e.f. 02nd October, 2024, and which was subsequently noted by
the board on the board meeting held on 29th October, 2024.
During the year, Mr. Parin Shah has resigned from the post of Company Secretary &
Compliance Officer of the Company w.e.f. 07th October, 2024, and which was
subsequently noted by the board on the board meeting held on 29th October,
2024.
During the year, The Company has appointed Mr. Yash Rathore as the Company Secretary
& Compliance Officer designated as a Key Managerial Personnel of the Company w.e.f. 20th
January, 2025.
17. DIRECTOR RETIRE BY ROTATION
In accordance with the provisions of the companies Act, 2013, and the articles of the
association of the company, Mr. Vasantkumar Shankarlal Rajgor, Executive Director retires
by rotation at the forthcoming 7th Annual General meeting and being eligible,
offers himself for re-appointment.
18. STATEMENT ON DECLARATION GIVEN BY INDEPENDENT DIRECTORS UNDER SUB-SECTION (6) OF
SECTION 149:
The Company has received declarations from the Independent Directors of the Company
that they meet with the criteria of independence as prescribed under sub- section (6) of
Section 149 of the Companies Act, 2013, alongwith in compliance in Rule 6(1) and (3) of
Companies (Appointment and Qualifications of Directors) Rules, 2014, as amended from time
to time and Regulation 16(1)(b) of the SEBI (LODR) Regulations, 2015, and there has been
no change in the circumstances which may affect their status as independent director
during the year and they have complied with the code of conduct for Independent Directors
prescribed in Schedule IV of the Companies Act, 2013.
In the opinion of the Board, all the Independent Directors possess requisite
qualifications, experience, expertise including the Proficiency and hold high standards of
integrity for the purpose of Rule 8(5)(iii) (a) of the Companies (Accounts) Rules, 2014.
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, paid to
them for the purpose of attending meetings of the Board / Committee of the Company and in
addition to that lease rent, remuneration and dividend paid to Mr. Maheshkumar Shankarlal
Rajgor Non-Executive and Non-Independent Director of the Company.
19. FAMILIARIZATION PROGRAM FOR INDEPENDENT DIRECTORS
The company has implemented a robust Familiarization Program for independent directors,
aiming to equip them with the necessary knowledge, insights, and exposure to effectively
discharge their responsibilities. The program includes comprehensive induction, periodic
updates on industry trends, site visits, relevant training programs, access to
information, and regular interactions with senior management. By actively engaging
independent directors and providing them with the necessary resources, we strive to foster
a well-informed and engaged Board that contributes to effective governance and value
creation.
20. COMMITTEES OF THE BOARD:
The company has constituted following committees as per the companies Act, 2013.
a. Audit Committee
Your Company has in accordance with the Section 177 of the Companies Act, 2013, has
constituted the Audit Committee comprising of 3 directors.
The Composition of Audit Committee as on 31st March 2025 are as follows:
| Name of Director |
Designation in the Committee |
Designation |
| Dipika Pradeep Soni |
Chairperson |
Non-Executive Independent Director |
| Himali Maheshbhai Thakkar |
Member |
Non-Executive Independent Director |
| Brijeshkumar Vasantlal Rajgor |
Member |
Managing Director |
The Audit committee policy is available on the website of the company at
www.rajgorcastor.com.
b. Nomination and Remuneration Committee
The Company has constituted the Nomination and Remuneration Committee. The
Constitution, composition and functioning of the Nomination and Remuneration Committee
also meets with the requirements of Section 178(1) of the Companies Act, 2013, and
Regulation 19 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015.
The Composition of Nomination and Remuneration Committee as on 31st March
2025 are as follows:
| Name of Director |
Designation in the Committee |
Designation |
| Dipika Pradeep Soni |
Chairperson |
Non-Executive Independent Director |
| Himali Maheshbhai Thakkar |
Member |
Non-Executive Independent Director |
| Maheshkumar Shankarlal Rajagor |
Member |
Non-Executive Director |
The Nomination and remuneration policy available on the website of the company at
www.rajgorcastor.com which includes all the required details relating to directors'
appointment and remuneration including criteria for determining qualifications, positive
attributes, independence of a director and other matters provided under subsection (3) of
section 178.
c. Stakeholders Relationship Committee
The Company has constituted Stakeholder's Relationship Committee. The Constitution,
composition and functioning of the Stakeholder's Relationship Committee also meets with
the requirements of Section 178 of the Companies Act, 2013, and Regulation 20 of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015.
The Composition of Stakeholder's Relationship Committee as on 31st
March 2025 are as follows:
| Name of Director |
Designation in the Committee |
Designation |
| Dipika Pradeep Soni |
Chairperson |
Non-Executive Independent Director |
| Himali Maheshbhai Thakkar |
Member |
Non-Executive Independent Director |
| Maheshkumar Shankarlal Rajagor |
Member |
Non-Executive Director |
21. BOARD EVALUATION INCLUDING THE MANNER IN WHICH FORMAL ANNUAL EVALUATION HAS BEEN
MADE.
Pursuant to the provisions of Companies Act, 2013 and SEBI (Listing Obligation and
Disclosure Requirement) Regulations, 2015, the Board has carried out annual performance
evaluation of its own performance, the directors individually as well the evaluation of
the working of its Audit, Nomination & Remuneration and Stakeholder committee,
including the Chairperson of the Board who were evaluated on parameters such as level of
engagement and contribution and independence of judgment thereby safeguarding the interest
of the Company. The performance evaluation of the Independent Directors was carried out by
the entire Board. The performance evaluation of the Chairperson and the Non-Independent
Directors was carried out by the Independent Directors. The Directors expressed their
satisfaction with the evaluation process.
22. AUDITORS:
Statutory Auditors:
Pursuant to provisions of Section 139 of the Companies Act, 2013, read with the
Companies (Audit & Auditors) Rules, 2014, M/s V S S B & Associates, Chartered
Accountants having registration number: 121356W, appointed as Statutory Auditors of the
Company for a term of five consecutive years to hold office from the conclusion of this
Annual general meeting to the conclusion of the annual general meeting of the company to
be held for the financial year ended on 31st March, 2028.
The Notes to the financial statements referred in the Auditors Report are
self-explanatory. There are no qualifications or reservations on adverse remarks or
disclaimers given by Statutory Auditors' of the Company and therefore do not call for any
comments under Section 134 of the Companies Act, 2013. The Auditors' Report is enclosed
with the financial statements in this Annual Report.
Reporting of frauds by Auditors:
During the year under review, the Auditors have not reported to the Audit Committee or
the Board, under Section 143 (12) of the Act, any instances of fraud committed against the
Company by its officers or employees, the details of which would be required to be
mentioned in the Directors' Report.
Secretarial Auditor:
During the year under review, the Company has received resignation letter from M/s.
Shah Santoki & Associates, Practicing Company Secretary, from the position of
Secretarial Auditor due to his personal reason with immediate effect. So he was unable to
conduct the Secretarial Audit for the FY 2023-24.
Due to the casual vacancy of Secretarial Auditor, Pursuant to provision of Section 204
of the Companies Act, 2013, and The Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014 (including any statutory modification(s) or re-enactment(s)
thereof, for the time being in force), the board of directors of the company on
recommendation of Audit Committee, at their meeting held on 28.08.2024 had re-appointed
M/s Sachin Thakkar and Associates, Company Secretaries, Ahmedabad (A Peer Reviewed Firm)
as a secretarial auditor to conduct the Secretarial Audit for the Financial Year 2023-24.
Subsequently after the closing of the financial year Pursuant to provision of Section
204 of the Companies Act, 2013, and The Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014, (including any statutory modification(s) or
re-enactment(s) thereof, for the time being in force), the board of directors of the
Company on recommendation of Audit Committee, at their meeting held on 30th
May, 2025, had re-appointed M/s Sachin Thakkar and Associates, Company Secretaries,
Ahmedabad (A Peer Reviewed Firm) as a secretarial auditor to conduct the Secretarial Audit
for the Financial Year 2024-25.
The Secretarial Audit Report issued in form MR-3 by M/s Sachin Thakkar and Associates,
Company Secretaries in respect of the Secretarial Audit of the Company for the financial
year ended on March 31, 2025, is annexed as "Annexure-III".
The secretarial audit report does not contain any other qualification, reservation or
adverse remark except noncompliance regarding delay in appointment of company secretary as
mentioned below:
Qualification: As per Regulation 6 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 (SEBI LODR), every listed company is required to appoint a
qualified company secretary to act as a Compliance Officer and in the event of vacancy of
such compliance officer due to any reason, company is required to fill such vacancy at the
earliest and not later than three months from the date of such vacancy. However, in the
event of a vacancy caused due to the resignation of Mr. Parin Shah on October 7, 2024, it
is required to appoint a new Company Secretary cum compliance officer by January 6, 2025.
But company has appointed Mr. Yash Rathore as Company secretary cum compliance officer on
20th January, 2025 so company has filled such vacancy with the delay of 13 days
and to that extent not complied with regulation 6 of SEBI LODR, 2015.
Management's Comment: The delay in appointing the Company Secretary was unintentional
and caused by unforeseen circumstances. Our initial candidate was unable to join, which
required us to find a new one. This process took additional time, leading to the delay.
Also note an order was already issued by NSE regarding delay in appointment of Company
Secretary. However, the Company made appointed Mr. Yash Rathore as the Company Secretary
cum Compliance Officer on 20th January, 2025, and there has been a delay of a few days in
the appointment of the Company Secretary cum Compliance Officer in the Company. Fine of
Rs. 15,340/- was imposed on Company by NSE which was duly paid and a satisfactory
explanation for the delay was also provided to the NSE, thereby addressing and resolving
the non-compliance.
Cost Auditor:
Pursuant to the provisions of the Companies Act, 2013, and rules thereof, the Board of
Directors of the Company, in their meeting held on 28th August, 2024, the
Company has appointed M/s D R RADADIYA & CO, Cost Auditor (Firm Registration No.
103702) as cost auditor for conducting the cost audit in respect of the products
manufactured by the Company as per the provisions of Section 148 of the Companies Act,
2013, for the period under review. Further, as per Section 148 of the Companies Act, 2013,
the remuneration payable to the Cost Auditor is required to be ratified at the ensuing
Annual General Meeting.
INTERNAL AUDITOR:
Pursuant to the provisions of Section 138 of the Companies Act, 2013, and the rules
made there under (including any statutory modification(s) or reenactment(s) thereof, for
the time being in force), the board of directors of the company, at their meeting held on
29.05.2024 had appointed M/s R B TANNA AND CO (having FRN: 110805W), Chartered
Accountants, Ahmedabad as Internal Auditors to conduct Internal Audit for the financial
year 2024-25.
23. MANAGEMENT DISCUSSION & ANALYSIS:
In terms of Regulation 34(2)(e) of the Listing Regulations, 2015 read with other
applicable provisions, the detailed review of the operations, performance and future
outlook of the Company and its business is given in the Management's Discussion and
Analysis Report (MDA) which forms part of this Annual Report is annexed as
"Annexure-IV".
24. BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORTING (BRSR) ON ENVIRONMENTAL,
SOCIAL & GOVERNANCE (ESG):
The BRSR on ESG as required under Regulation 34(2) of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, does not apply to your company for the
financial year 2024-25.
25. DISCLOSURE OF PARTICULARS OF EMPLOYEES AS REQUIRED UNDER RULE 5 (2) OF THE
COMPANIES (APPOINTMENT AND REMUNERATION OF MANAGERIAL PERSONNEL) RULES 2014:
Details of particulars of employees as required under rule 5(2) of the companies
(Appointment and; Remuneration of Managerial Personnel) Rules, 2014, have been annexed in
"Annexure-V".
26. PREVENTION OF INSIDER TRADING:
Pursuant to the provision of the Securities and Exchange Board of India (Prohibition of
Insider Trading) Regulation, 2015, and amendments thereto, the company has in place a code
of conduct to regulate, monitor and report trading by insider for prohibition of Insider
trading in the shares of the Company. The code inter alia prohibits purchase/ sale of
shares of the Company by its Designated Persons and other connected persons while in
possession of Unpublished Price Sensitive Information in relation to the Company and
during the period when trading window is close. The company has also formulated a Code of
practices and procedures for fair disclosure of Unpublished Price Sensitive Information
(UPSI) and said code in available on company's website and can be assessed at
www.raigorcastor.com.
27. CORPORATE GOVERNANCE:
As per regulation 15(2) of the Listing Regulation, the Compliance with the Corporate
Governance provisions shall not apply in respect of the following class of the Companies:
a. Listed entity having paid up equity share capital not exceeding Rs. 10 Crore and Net
worth not exceeding Rs. 25 Crore, as on the last day of the previous financial year;
b. Listed entity which has listed its specified securities on the SME Exchange.
Since, our Company falls in the ambit of aforesaid exemption (b); hence compliance with
the provisions of Corporate Governance shall not apply to the Company and it does not form
the part of the Annual Report for the financial year 2024-25.
28. CHANGES IN REGISTERED OFFICE ADDRESS:
During the year under review, the Company has not changed its registered office
address.
29. INTERNAL FINANCIAL CONTROL SYSTEMS AND THEIR ADEQUACY:
Your Company has implemented adequate procedures and internal controls which provide
reasonable assurance regarding reliability of financial reporting and preparation of
financial statements. The Company also ensures that internal controls are operating
effectively.
30. RISK MANAGEMENT POLICY:
The Company has in place to ensure sustainable business growth with stability and to
promote a pro-active approach in reporting, evaluating and resolving risks associated with
the business. Major risks identified by the businesses and functions are systematically
addressed through mitigating actions on a continuing basis. These are discussed at the
meetings of the Audit Committee and the Board of Directors of the Company. The Company's
internal control systems are commensurate with the nature of its business and the size and
complexity. There is no such identification of elements of risk which in the opinion of
the Board may threaten the existence of the company.
31. POLICY FOR PRESERVATION OF DOCUMENTS AND ARCHIVAL OF DOCUMENTS:
Your Company has adopt the policy for the preservation of Documents and Archival of
Documents to ensure that all the necessary documents and records of the Company are
adequately protected and preserved as per the Statutory requirements which is available on
website www.rajgorcastor.com.
32. DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION,
PROHIBITION AND REDRESSAL), ACT 2013:
The Company has always believed in providing a safe and harassment free workplace for
every individual working in its premises through various interventions and practices. The
Company always endeavors to create and provide an environment that is free from
discrimination and harassment including sexual harassment. The Company has in place an
Anti-Sexual Harassment Policy in line with the requirements of The Sexual Harassment of
Women at the Workplace (Prevention, Prohibition and Redressal), Act 2013. Internal
Complaints Committee (ICC) has been set up to redress complaints received regarding sexual
harassment. All employees (permanent, contractual, temporary, trainees) are covered under
this policy. During the year under review;
a) number of complaints of sexual harassment received - 0
b) number of complaints disposed off during the year - 0
c) number of cases pending for more than ninety days - 0
33. STATEMENT BY THE COMPANY WITH RESPECT TO THE COMPLIANCE TO THE PROVISIONS RELATING
TO THE MATERNITY BENEFITS ACT, 1961.
The Company has complied with all the provisions of the Maternity Benefit Act, 1961,
and its subsequent amendments. The Company has established all necessary policies and
procedures to ensure that any eligible female employee would receive the benefits mandated
by the Act. During the period under review, no female employee of the company was eligible
for or has availed of maternity benefits under the said Act. Consequently, no such
benefits were provided.
34. VIGIL MECHANISM / WHISTLE BLOWER POLICY:
Pursuant to the provisions of Section 177(9) of the Companies Act, 2013, read with Rule
7 of the Companies (Meetings of Board and its Powers) Rules, 2014, the Company had adopted
'Vigil Mechanism / Whistle Blower Policy' for Directors and employees. A mechanism has
been established for employees to report concerns about unethical behaviour, actual or
suspected fraud, or violation of Code of Conduct and Ethics. It also provides for adequate
safeguards against the victimization of employees who avail of the mechanism and allows
direct access to the Board of Directors in exceptional cases. The Board will periodically
review the functioning of Whistle Blower Mechanism. During the Financial Year under
review, no whistle blower event was reported and mechanism functioning well. No personnel
have been denied access to the Chairperson of Audit Committee. The policy is available on
the website of the company at www.raigorcastor.com.
35. INVESTOR GRIEVANCES REDRESSAL STATUS:
SEBI COMPLAINTS REDRESS SYSTEM (SCORES):
The investor complaints are processed in a centralized web-based complaints redress
system. The salient features of this system are centralized database of all complaints,
online upload of Action Taken Reports (ATRs) by the concerned companies and online viewing
by investors of actions taken on the complaint and its status. Your Company has been
registered on SCORES and makes every effort to resolve all investor complaints received
through SCORES or otherwise within the statutory time limit from the receipt of the
complaint. The Company has not received any complaint on the SCORES during financial year
2024-25.
SMART ODR:
The Company has adopted the Smart Online Dispute Resolution (Smart ODR) mechanism in
alignment with regulatory guidelines and industry best practices. This digital-first
platform facilitates efficient and transparent resolution of customer grievances through a
streamlined, cost-effective process.
36. CORPORATE SOCIAL RESPONSIBILITY:
CSR initiatives and activities are aligned to the requirements of Section 135 of the
Act.
A brief outline of the CSR policy of the Company and the initiatives undertaken by the
Company on CSR activities during the year are set out in "Annexure VI" of this
report in the format prescribed in the Companies (Corporate Social Responsibility Policy)
Rules, 2014.
This Policy is available on the Company's website at www.raigorcastor.com.
37. LOANS, GUARANTEES OR INVESTMENTS IN SECURITIES:
During the year ended 31st March, 2025, company has given Loans, Guarantees and/or made
any Investments covered within the limits as specified under the provisions of Section 186
of the Companies Act, 2013. Particulars of loans, guarantees or investments, if any
covered under section 186 is mentioned in financial statement.
38. DETAILS OF DIFFERENCE BETWEEN AMOUNT OF THE VALUATION DONE AT THE TIME OF ONE TIME
SETTLEMENT AND THE VALUATION DONE WHILE TAKING LOAN FROM THE BANKS OR FINANCIAL
INSTITUTIONS ALONG WITH THE REASONS THEREOF:
No such incidence took place during the year.
39. MATERIAL CHANGES AND COMMITMENTS:
There have been no Material Commitments, affecting the financial position of the
Company which have occurred between the end of the Financial Year of the Company to which
the Financial Statement Related and the date of the report.
40. DETAILS OF SIGNIFICANT AND MATERIAL ORDERS:
No such Orders have been passed by the Regulators/Court or Tribunals which can impact
the going concern status and Company's operation in future.
41. PROCEEDINGS INITIATED/PENDING AGAINST YOUR COMPANY UNDER THE INSOLVENCY AND
BANKRUPTCY CODE, 2016:
There are no proceedings initiated/ pending against your Company under the Insolvency
and Bankruptcy Code, 2016, which materially impact the Business of the Company.
42. WEBSITE:
As per Regulation 46 of SEBI (LODR) Regulations, 2015, the Company has maintained a
functional website namely "www.raigorcastor.com" containing basic information
about the Company. The website of the Company is also containing information like
Policies, Shareholding Pattern, Financial Results and information of the designated
officials of the Company who are responsible for assisting and handling investor
grievances for the benefit of all stakeholders of the Company, etc.
43. COPY OF ANNUAL RETURN:
The draft Annual Return as on March 31, 2025, in terms of provisions of Section 134(3)
and other applicable provisions of the Companies Act, 2013, read with Rules thereto is
available on website of the Company www.raigorcastor.com and forms integral part of this
Annual Report.
44. CREDIT RATING:
The Company had received Credit Rating from Infomerics Ratings ("INFOMERICS")
for its Long Term and Short Term financial Facilities as IVR BBB/ Stable (IVR triple B
with Stable outlook) and IVR A3+ (IVR A three plus) respectively.
45. INSURANCE:
The company has taken very pragmatic approach towards insurance. Adequate cover has
been taken for all movable and immovable assets for various types of risk.
46. ACKNOWLEDGEMENT:
Your directors place on record their sincere appreciation of the co-operation and
assistance extended by the bankers of the Company. They also place on record their
appreciation of the devoted services rendered by the Executives, Staff Members and Workers
of the Company.
The Director concludes this Report by placing on record their gratitude to all
shareholders, bankers and Govt. authorities for their continued support.
For and on behalf of Board of Directors of |
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RAJGOR CASTOR DERIVATIVES LIMITED |
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Sd/- |
Sd/- |
MAHESHKUMAR SHANKARLAL RAJAGOR |
BRIJESHKUMAR VASANTLAL RAJGOR |
Chairman and Non-Executive Director |
Managing Director |
DIN: 07765332 |
DIN: 08156363 |
Date: 04.09.2025 |
Date: 04.09.2025 |
Place: Ahmedabad |
P lace: Ah me d a ba d |
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