To,
The Members,
Apollo Ingredients Limited
(Formerly known as Indsoya Limited)
Your Directors are pleased to present their 44th Annual Report on the state
of affairs of the Company together with the Audited Financial Statement (Standalone) of
Accounts and the Auditors‘ Report of Apollo Ingredients Limited (formerly known as
Indsoya Limited) [-the Company‘] for the year ended 31st March, 2024.
1. FINANCIAL SUMMARY OR HIGHLIGHTS/PERFORMANCE OF THE COMPANY
The Company Financial Performance (Standalone) for the financial year ended on 31st
March, 2024 under review is given hereunder: (Amount in Lakhs)
| PARTICULARS |
Standalone Financial Statements |
|
2023-2024 |
2022-2023 |
| Net Sales /Income from Business Operations |
100.00 |
- |
| Other Income |
0.30 |
3.24 |
| Total Income |
100.30 |
3.24 |
| Less: Total Expenses |
92.07 |
10.57 |
| Profit/(Loss) before Exceptional Item and tax |
8.23 |
(7.33) |
| Less: Exceptional Item |
- |
- |
| Profit/(Loss) before tax |
8.23 |
(7.33) |
| Less: Current Income Tax |
2.14 |
- |
| Less: Deferred Tax |
- |
- |
| Net Profit/(Loss) after Tax |
6.09 |
(7.33) |
| Earning per share (Basic) |
1.52 |
(1.83) |
| Earning per Share (Diluted) |
1.52 |
(1.83) |
2. REVIEW OF OPERATIONS
During the year under review, the Standalone total Income was Rs.100.30 lakhs against
Rs.3.24 lakhs for the corresponding previous year.
Total Comprehensive profit for the period was Rs. 6.09 lakhs as against the loss of Rs.
7.33 lakhs in the corresponding previous year.
The Company is deploying its resources in the best possible way to increase business
volumes and plans to achieve increased business.
3. DIVIDENDS
In order to conserve resources for future growth and expansion, the Directors do not
recommend any dividend on equity share capital of the Company for the Financial Year ended
on 31st March, 2024. Also, dividend distribution policy is not applicable on the company
4. TRANSFER TO RESERVES
As no transfer to any reserve is proposed, the entire balance available in the
statement of profit and loss is retained in it.
5. TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCTION AND PROTECTION FUND
The provisions of Section 125(2) of the Companies Act, 2013 do not apply as there was
no dividend declared and paid last year.
6. CHANGE IN THE NATURE OF THE BUSINESS
Pursuant to change in Management there are few changes in the nature of business which
are as follows:
? The new set of Memorandum of Association as per Companies Act, 2013 with change of
main object of the Company has been adopted by the Shareholders at the AGM held on
September, 12th 2023. The changes in the main object of the Company are as
follows:
"To provide in India or elsewhere the business of manufacturing, producing,
importing, exporting and to deal in total healthcare solution in Ayurvedic, homeopathic,
allopathic medicines and to carry out medical & clinical audits, Medical, healthcare,
hospital facility planning from concept to commissioning and post commissioning managing
health care institutions of any kind, public or private and to establish and run
hospitals/ healthcare institutions, diagnostic centre, health spa, wellness centre,
pathology, life science and stem cell depositories and to provide support services such as
housekeeping, security, technical & clinical, para medical and nursing human resources
to health care & other organizations public or private and to launch hospitals and
develop strategic concepts, business development policies for health care and health
solutions."
Note: Clause III of the MOA be altered by substituting PART A with the above and PART B
containing objects incidental or ancillary to the attainment of the main object will be
altered accordingly.
? The name of the company has been changed from Indsoya Limited‘ to the new name
Apollo Ingredients Limited‘ with effect from September 12th, 2023.
? The Registered office of the Company has been shifted from Mumbai to Thane within the
jurisdiction of same Registrar of Companies, Mumbai with effect from September 12, 2023.
The new Registered office is at -Office no. A-1, Nalandapushp, CHS,
Sector 2, Mittal Enclave, Naigaon, East Thane, Thane, Maharashtra- 401201, India.
? The Company has shifted its corporate office at the Board meeting held on August 10th
2023. The new Corporate office is at -Office no. A-1, Nalandapushp, CHS,
Sector 2, Mittal Enclave, Naigaon, East Thane, Thane, Maharashtra- 401201, India.
? The Company with effect from September 12th, 2023 has increased its
authorized share capital from Existing Rs. 50,00,000/- (Rupees Fifty Lakhs) divided into
10,00,000 (Ten Lakhs) Equity Shares of Rs. 05/- (Rupees Five) each to Rs. 10,00,00,000/-
(Ten Crores) divided into 2,00,00,000 (Two Crore) Equity Shares of Rs. 05/- each.
7. MANAGEMENT DISCUSSION AND ANALYSIS
The Management Discussion and Analysis as required in terms of the Listing Regulations
is annexed to the report as Annexure I and is incorporated herein by reference and forms
an integral part of this report.
8. BUSINESS OUTLOOK
With new management company is going into major transformation in current and coming
financial years and will explore new markets and business opportunities as per the Main
objects of the Company.
9. SHARE CAPITAL
During the year, the Company's authorized share capital was increased from Existing Rs.
50,00,000/- (Rupees Fifty Lakhs) divided into 10,00,000 (Ten Lakhs) Equity Shares of Rs.
05/- (Rupees Five) each to Rs. 10,00,00,000/- (Ten Crores) divided into 2,00,00,000 (Two
Crore) Equity Shares of Rs. 05/- each.
As on 31st March, 2024, the Authorised share capital of the Company is Rs.
10,00,00,000/- (Rupees Ten Crore only) divided into 2,00,00,000 (Rupees Two Crore only)
Equity Shares of Rs 05/-(Rupees Five only) each; and Issued, Subscribed and Paid up share
capital of the Company is Rs. 20,00,000/- (Rupees Twenty Lakhs only) divided into 4,00,000
(Four Lakh) Equity Shares of Rs. 05.00/- (Rupees Five only) each. The
Company has only one class of equity shares having at par value of Rs. 05/- per share.
Each holder of equity shares entitled to one vote per share.
10. DIRECTORS AND KEY MANAGERIAL PERSONNEL
a) Changes in Directors:
? Directors as on 31st March, 2024:
| S. No. Name of Director |
DIN |
Designation |
1. Lovely Ghanshyam Mutreja |
03307922 |
Managing Director |
| 2. Lalita Ghanshyam Mutreja |
07514392 |
Director |
| 3. Kirit Ghanshyam Mutreja |
07514391 |
Director |
4. Suvarna Ramchandra Shinde |
09751614 |
Independent Director |
| 5. Maharshi Anand Tomar |
10272427 |
Independent Director |
? The Board of Directors at its meeting held on 10/08/2023, have approved the
appointment and resignation of below Directors:
S. Name of DIN No. Director |
Cessation/Appointme nt |
Effective Date |
Designation |
1 Rajvirendr 0677093 . a Singh 1 Rajpurohit |
Cessation |
10/08/202 3 |
Independent Director |
2 Maharshi 1027242 . Anand 7 Tomar |
Appointment |
10/08/202 3 |
Independent Director |
b) Key Managerial Personnel:
Pursuant to Section 203 of the Companies Act, 2013, the Key Managerial Personnel of the
Company are:
| S.No. Name of KMP |
Designation |
| 1 Lovely Ghanshyam Mutreja |
Managing Director |
| 3 Satya Nayak |
Chief Financial Officer |
| 4 Ayushi Agrawal |
Company Secretary and Compliance officer |
c) Declaration by Independent Director(s):
The company has received the necessary declaration from each Independent Directors in
accordance with Section 149 (7) of the Companies Act 2013, that they meets the criteria of
independence as laid out in sub-section (6) of Section 149 of the Companies Act 2013 and
Regulation 16(1) (b) of the SEBI Listing Regulations.
All Independent Directors of the Company have affirmed compliance with the Schedule IV
of the Act and Company's Code of Conduct for Directors and Senior Management.
All the Independent Directors of the Company have complied with the requirement of
inclusion of their names in the data bank of Independent Directors maintained by Indian
Institute of Corporate Affairs and they meet the requirements of proficiency
self-assessment test.
d) Formal Annual Evaluation:
Pursuant to the provisions of the Companies Act, 2013 and the Listing Agreement/ SEBI
(LODR) Regulations, 2015, the Board has carried out an annual performance evaluation of
its own performance, the directors individually as well as the evaluation of the working
of its Committees. The Directors expressed satisfaction with the evaluation process.
11. MEETINGS OF THE BOARD
During the year, 6 (Six) Board Meetings were convened and held, the details of which
are given below. The intervening gap between the two consecutive meetings was within the
period prescribed under the Companies Act, 2013, Secretarial Standards and the SEBI (LODR)
Regulations, 2015.
The Meetings that were held in the financial year 2023-2024:
| S.No. Meeting |
Date |
| 1. Board Meeting |
11/05/2023 |
| 2. Board Meeting |
29/05/2023 |
| 3. Board Meeting |
10/08/2023 |
| 4. Board Meeting |
14/08/2023 |
| 5. Board Meeting |
09/11/2023 |
| 6. Board Meeting |
12/02/2024 |
12. MEETINGS OF THE INDEPENDENT DIRECTORS
During the Financial Year 2023-2024, 1 (One) Meetings of Independent Directors were
held on 12/02/2024 without the attendance of Non-Independent Directors and members of the
Management. The Independent directors in the meeting reviewed and assessed the following:
? The performance of Non-Independent Directors and the Board as a whole. ? The quality,
quantity and timeliness of flow of information between the Company Management and the
Board that is necessary for the Board to effectively and reasonably perform its duties.
13. MEETINGS OF THE COMMITTEES
There are currently three committees of the Board, as following:
a. Audit Committee
The Audit Committee of the Company reviews the reports to be submitted with the Board
of Directors with respect of auditing and accounting matters. It also supervises the
Company‘s financial reporting process.
During the Financial Year 2023-2024, 4 (four) Meetings were held on 29/05/2023,
10/08/2023, 09/11/2023, 12/02/2024. The time gap between any two meetings was not more
than 4 months and the Company has complied with all the requirements as mentioned under
the Listing Agreement/SEBI (LODR) Regulations, 2015 and the Companies Act, 2013.
The composition of the Committee is as under:
| S.No. Name |
Category |
Designation |
| 1. Suvarna Ramchandra Shinde |
Independent Director |
Chairperson |
| 2. Kirit Ghanshyam Mutreja |
Director |
Member |
| 3. Rajvirendra Singh Rajpurohit |
Independent Director |
Member |
Reconstitution of Audit Committee from 10/08/2023:
| S.No. Name |
Category |
Designation |
| 1 Suvarna Ramchandra Shinde |
Independent Director |
Chairperson |
| 2 Kirit Ghanshyam Mutreja |
Director |
Member |
| 3 Maharshi Anand Tomar |
Independent Director |
Member |
b. Nomination and Remuneration Committee
The Committee‘s constitution and terms of reference are in compliance with
provisions of section 178 of the Companies Act, 2013, Regulation 19 of Securities and
Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,
2015, as amended from time to time.
During the Financial Year 2023-2024, 1 (One) Meetings were held on 10/08/2023.
The composition of the Committee constituted as under:
| S.No. Name |
Category |
Designation |
| 1. Suvarna Ramchandra Shinde |
Independent Director |
Chairperson |
| 2. Kirit Ghanshyam Mutreja |
Director |
Member |
| 3. Rajvirendra Singh Rajpurohit |
Independent Director |
Member |
Reconstitution of Nomination and Remuneration Committee from 10/08/2023:
| S.No. Name |
Category |
Designation |
| 1 Suvarna Ramchandra Shinde |
Independent Director |
Chairperson |
| 2 Kirit Ghanshyam Mutreja |
Director |
Member |
| 3 Maharshi Anand Tomar |
Independent Director |
Member |
c. Stakeholders Relationship Committee
The terms of reference are in line with Section 178 of the Companies Act, 2013 and
Regulation 20 of Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015. The Committee reviews Shareholder‘s/
Investor‘ s complaints like non-receipt of Annual Report, physical transfer/
transmission/transposition of shares, split/ consolidation of share certificates, issue of
duplicate share certificates etc. This Committee is also empowered to consider and resolve
the grievance of other stakeholders of the Company including security holders. During the
Financial Year 2023-2024, 1 (One) Meeting was held on 12/02/2024.
The composition of the Committee constituted as under:
| S.No. Name |
Category |
Designation |
| 1. Suvarna Ramchandra Shinde |
Independent Director |
Chairperson |
| 2. Kirit Ghanshyam Mutreja |
Director |
Member |
| 3. Rajvirendra Singh Rajpurohit |
Independent Director |
Member |
Reconstitution of Stakeholders Relationship Committee from 10/08/2023:
| S.No. Name |
Category |
Designation |
| 1 Suvarna Ramchandra Shinde |
Independent Director |
Chairperson |
| 2 Kirit Ghanshyam Mutreja |
Director |
Member |
| 3 Maharshi Anand Tomar |
Independent Director |
Member |
14. REMUNERATION POLICY
The Board has, on the recommendation of the Nomination & Remuneration Committee
framed a policy for selection and appointment of Directors, Senior Management and their
remuneration.
15. PARTICULARS OF EMPLOYEES
The provisions of Section 197 read with rule 5(2) & (3) of the Companies
(Appointment
& Remuneration of Managerial Personnel) Rules, 2014 requiring particulars of the
employees to be disclosed in the Report of Board of Directors are not applicable to the
Company as none of the employees was in receipt of remuneration in excess of Rs.1.20 Crore
per year during the financial year 2023-24. Details regarding rule 5(1) of the Companies
(Appointment & Remuneration of Managerial Personnel) Rules, 2014 are disclosed in the
Annexure III attached herewith this report.
16. DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to Section 134(3) (c) & 134(5) of the Companies Act, 2013, the Board of
Directors of the Company hereby confirms that:
(a) In the preparation of the annual accounts, the applicable accounting standards have
been followed along with proper explanation relating to material departures;
(b) The directors have selected such accounting policies and applied them consistently
and made judgments and estimates that are reasonable and prudent so as to give a true and
fair view of the state of affairs of the company at the end of the financial year and of
the profit and loss of the company for that period;
(c) The directors have 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 have prepared the annual accounts on a going concern basis; and
(e) The directors have laid down internal financial controls to be followed by the
company and that such internal financial controls are adequate and were operating
effectively.
(f) The directors have devised proper systems to ensure compliance with the provisions
of all applicable laws and that such systems were adequate and operating effectively.
17. DETAILS OF SUBSIDIARY/JOINT VENTURES/ASSOCIATE COMPANIES
The company has no subsidiaries, joint ventures or associate companies. During the
Financial Year, no company ceased as Subsidiary, Joint Venture or Associate of the
company.
18. STATUTORY AUDITORS:
In accordance with the provisions of Section 139 of the Companies Act 2013, and the
rules made thereunder, the Board on the recommendation of the Audit Committee, had
appointed M/s. DMKH & Co. Firm Registration No.: 116886W, as the statutory auditors of
the Company, for a term of five consecutive years, i.e., from the conclusion of the 42ndAnnual
General Meeting of the Company (i.e held on 23rd September, 2022) till the
conclusion of the 47th Annual General Meeting to be held in the year 2027 and
the said appointment with the approval of shareholders .
As required under the provisions of Section 139(1) and 141 of the Companies Act, 2013
read with the Companies (Accounts and Auditors) Rules, 2014, the Company has received a
written consent and certificate from the auditors to the effect that they are eligible to
continue as Statutory Auditor of the Company.
19. AUDITORS REPORT
Explanation on Statutory Auditors comments:
The comments made in Auditors Report read with notes on accounts are self-explanatory
and therefore, in the opinion of the Directors, do not call for any further explanation.
20. SECRETARIAL AUDIT
In terms of Section 204 of the Act and Rules made there under, M/s. Ravi Patidar and
Associates, Practicing Company Secretaries have been appointed Secretarial Auditors of the
Company. The Secretarial Audit Report forms part of Annual report as Annexure II.
21. INTERNAL FINANCIAL CONTROLS AND ADEQUACY
The Company has in place adequate internal financial controls with reference to the
financial statement. The Internal Audit of the Company is regularly carried out to review
the internal control systems and processes. The Audit Committee of the Board periodically
reviews the internal control systems with the management, Internal Auditors and Statutory
Auditors. Significant internal audit findings are discussed and follow-ups are taken
thereon. Further, Mr. Abhishek Sarda was appointed as an Internal Auditor of the Company
for the Financial Year 2023-24.
22. SHARES
Buy Back of Securities:
The Company has not bought back securities during the year under review.
Sweat Equity:
The Company has not issued any Sweat Equity Shares during the year under review.
Bonus Shares:
The Company has not issued any Bonus Shares were not issued during the year under
review.
Employee Stock Option Plan:
The Company has not provided any Stock Option Scheme to the Employees.
23. VIGIL MECHANISM
The company has formulated a Whistle Blower Policy to provide Vigil Mechanism for
employees of the company to report genuine concerns. The provisions of this policy are in
line with the provisions of the Section 177 (9) of the Act and the Listing Regulations.
24. RISK MANAGEMENT POLICY
The Company's principal financial liabilities include trade and other payables. The
Company's principal financial assets include cash and cash equivalents and others. The
Company is exposed to liquidity risk and market risk. The Company‘s senior management
oversees the management of these risks. The Company's senior management provides assurance
that the Company‘s financial risk activities are governed by appropriate policies and
procedures and that financial risks are identified, measured and managed in accordance
with the Company's policies and risk objectives. Risk management policy of the company has
been placed on the Company website at https://www.indsoya.com/ Presently; Regulation 21 of
the SEBI LODR with respect to Risk Management Committee is not applicable to your Company.
25. CORPORATE GOVERNANCE
As stipulated vide regulation 15(2) of the SEBI (LODR) Regulations, 2015, the
requirement of furnishing report on corporate governance is not applicable to your Company
as it‘s paid up capital and net-worth is below the threshold limit prescribed for the
purpose.
26. DEPOSITS
The Company has not accepted any deposits from public and as such, no amount on account
of principal or interest on public deposits was outstanding as on the date of the Balance
Sheet.
27. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER
SECTION 186
Full particulars of loans and guarantees given and investments made under Section 186
of the Companies Act, 2013 are given separately in the Financial Statements of the Company
read with Notes to Accounts which may be read in conjunction with this Report.
28. RELATED PARTY TRANSACTIONS
All Related Party transactions that were entered into during the financial year under
reference were on the arm‘s length basis and were in ordinary course of business and
in compliance with the applicable provisions of the Companies Act, 2013 and the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015. There are no
materially significant related party transactions between the Company and the Promoters,
Directors, Key Managerial Personnel, Subsidiaries, relatives or other designated persons,
which may have a potential conflict with the interest of the Company at large.
Accordingly, particulars of contracts or arrangements with related parties referred to in
Section 188(1) along with the justification for entering into such contract or arrangement
in form AOC-2 in terms of Section 134 of the Act read with Rule 8 of the Companies
(Accounts) Rules, 2014 is not applicable to the Company. Please refer Note 20 of Notes to
accounts for related party transactions as per IND AS-24 and Schedule V of the SEBI (LODR)
2015 as amended from time to time.
All Related Party Transactions were placed before the Audit Committee and have been
approved by the Board. Omnibus approval of Audit Committee is obtained for the
transactions that are foreseen and repetitive in nature.
Your Company has formulated a policy on related party transactions, which is also
available on Company‘s website https://www.indsoya.com/
29. CONSERVATION OF ENERGY, RESEARCH AND DEVELOPMENT,
TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
a. Conservation of Energy, Technology Absorption
Company has limited scope for undertaking energy conservation exercises, but
nevertheless continues to emphasize work practices that result in conservation of energy.
At the offices of your Company, special emphasis is placed on installation of
energy-efficient lighting devices, use of natural light as best as possible, and adoption
of effective procedures for conservation of electricity, water, paper and other materials
that consume natural resources.
b. Technology absorption
The activities of the Company do not as such involve any technology absorption or
expenditure on research and development. Nevertheless, the Company's endeavours would be
to achieve what is best possible in its business.
c. Foreign Exchange Earning and Outflow
During the year under review, there was no earning or outgoing in foreign exchange.
30. COST AUDIT
As per the Cost Audit Orders and in terms of the provisions of Section 148 and all
other applicable provisions of the Companies Act, 2013, read with the Companies (Audit and
Auditors) Rules, 2014, Cost Audit is not applicable to our Company.
31. CORPORATE SOCIAL RESPONSIBILITIES (CSR)
Pursuant to Section 135 of the Companies Act, 2013, every company having net worth of
rupees five hundred crore or more, or turnover of rupees one thousand crore or more or a
net profit of rupees five crore or more during any financial year shall constitute a
Corporate Social Responsibility (CSR) Committee of the Board. Your Company does not fall
under the provisions of aforesaid Section; therefore, CSR Committee has not been
constituted.
32. OBLIGATION OF COMPANY UNDER THE SEXUAL HARASSMENT OF
WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013
Your Company has always believed in providing a safe and harassment free workplace for
every individual working in Company‘s premises through various interventions and
practices. The Company always endeavours to create and provide an environment that is free
from discrimination and harassment including sexual harassment.
During the year, pursuant to the legislation 'Prevention, Prohibition and Redressal of
Sexual Harassment of Women at Workplace Act, 2013' introduced by the Government of India,
which came into effect from 9 December 2013, the Company has framed a Policy on Prevention
of Sexual Harassment at Workplace. There was no case reported during the year under review
under the said Policy.
33. SECRETARIAL STANDARDS
The Company has in place proper systems to ensure compliance with the provisions of the
applicable secretarial standards issued by The Institute of Company Secretaries of India
and such systems are adequate and operating effectively.
34. DETAILS OF APPLICATION MADE OR PROCEDDING PENDING UNDER
INSOLVENCY AND BANKRUPTCY CODE, 2016
During the year under review, there were no applications made or proceedings pending in
the name of the company under the Insolvency and Bankruptcy Code, 2016.
35. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS
OR COURTS OR TRIBUNALS
There are no significant and material orders passed by the Regulators / Courts /
Tribunals which would impact the going concern status of the Company and its future
operations.
36. MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL
POSITION OF THE COMPANY
Material changes and commitments, affecting the financial position of the Company
occurred between the end of the Financial Year of the Company i.e., 31st March, 2024 and
the date of this Directors‘ Report i.e., 28th August, 2024 are as
mentioned hereunder:
? Appointment of James Mody (DIN-08072328) as a Non- executive director of the Company
? Resignation of Mr. Satya Nayak from the post of Chief Financial Officer (CFO) of the
Company.
? Resignation of Ms. Lalita Ghanshyam Mutreja (DIN- 07514392) from the post of
Non-Executive Director of the Company
? Appointment of Ms. Lalita Ghanshyam Mutreja (DIN- 07514392) as Chief Financial
Officer (CFO) of the Company.
? Change in designation of Mr. Kirit Ghanshyam Mutreja (DIN-07514391) from Whole Time
Director to Executive Director of the Company
37. DETAILS IN RESPECT OF FRAUD REPORTED BY THE AUDITOR
No fraud by the Company and no material fraud on the Company has been noticed or
reported during the year.
38. WEBSITE
As per Regulation 46 of SEBI (Listing, Obligation and Disclosure Requirements)
Regulation, 2015, the Company has maintained a functional website namely
https://www.indsoya.com/ containing basic information about the Company like: Details of
business, financial information, shareholding pattern, compliance, contact 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. The contents of
the said website are updated on regular basis.
39. ACKNOWLEDGEMENT
The Board of Directors would like to acknowledge all its stakeholders and is grateful
for the support received from suppliers and business associates.
Your directors take this opportunity to place on record their appreciation and sincere
gratitude to the Government of India, Government of Maharashtra and the Bankers to the
Company for their valuable support and look forward to their continued co-operation in the
years to come.
For and On Behalf of the Board of Directors
| Apollo Ingredients Limited |
(Formerly known as Indsoya Limited) |
| Sd/- |
Sd/- |
| Lovely Ghanshyam Mutreja |
Kirit Ghanshyam Mutreja |
| Managing Director |
Director |
| DIN: 03307922 |
DIN: 07514391 |
| Date: 28th August, 2024 |
|
| Place: Thane |
|
|