To the Members of
Standard Glass Lining Technology Limited
Your directors are pleased to present the 13th Annual Report on the
business of the Company and Audited Financial Statements for the financial year ended 31st
March 2025.
1. Standalone and Consolidated Financial Highlights
(Amount in Rs. Lakhs)
|
Standalone |
|
Consolidated |
|
Particulars |
Year ended 31.03.2025 |
Year ended * 31.03.2024 |
Year ended 31.03.2025 |
Year ended * 31.03.2024 |
| Revenue from operations |
19,631.32 |
20,946.73 |
61,366.13 |
54,366.88 |
| Other Income |
1,826.79 |
765.98 |
1,231.26 |
601.20 |
Total Income |
21,458.11 |
21,712.71 |
62,597.39 |
54,968.08 |
| Profit before depreciation, Finance Costs, |
4,867.24 |
4,420.26 |
11,972.80 |
10,091.85 |
| exceptional items and Tax |
|
|
|
|
Less: Depreciation and Amortisation |
534.38 |
499.70 |
1,106.85 |
932.78 |
Less: Finance Costs |
608.94 |
473.77 |
1,511.71 |
1,178.97 |
Less: Exceptional items |
0 |
0 |
0 |
0 |
Profit before Tax |
3,723.92 |
3,446.79 |
9,354.24 |
7,980.10 |
| Less: Taxes |
|
|
|
|
| Current Tax |
838.69 |
820.20 |
2,419.34 |
1,978.21 |
| Deferred Tax |
20.62 |
(11.49) |
70.19 |
0.81 |
Profit/(Loss) for the Year (1) |
2,864.61 |
2,638.08 |
6,864.71 |
6,001.08 |
| Total Comprehensive Income/(Loss) (2) |
(1.71) |
0.85 |
1.28 |
3.93 |
Total (1+2) |
2,862.90 |
2,636.37 |
6,870.05 |
6,005.08 |
Earnings per Share (EPS in Rupees) |
|
|
|
|
| Basic |
1.54 |
1.59 |
3.47 |
3.52 |
| Diluted |
1.54 |
1.59 |
3.47 |
3.52 |
*Previous year's figures are restated, regrouped, rearranged and recast, wherever
considered necessary.
2. Review of Business Operations, State of Company's Affairs:
Your Company achieved standalone sales turnover After of H19,631.32 lakhs as
against H20,946.73 lakhs during the previous year and Profit After Tax of H2,864.61 lakhs
as against H2,638.08 lakhs during the previous year.
With regard to the consolidated sales turnover of H61,366.13 Lakhs against H54,366.88
lakhs during the previous ProfitAfter Tax ofyear and H6,864.71 Lakhs against H6,001.08
lakhs during the previous year.
This positive growth in consolidated financial highlights the Company's continued focus
on operational excellence, strategic expansion, and value creation across its business
segments.
Total Consolidated Income during the financial year was H62,600 Lakhs which was up
by 13.9% YoY as compared to previous Financial Year
EBITDA was H12,000 Lakhs up by 18.6% YoY; EBITDA margin improved to 19.1%
Profit Before Tax (PBT) wasH9,400 Lakhs up 17.2% YoY
(PAT) was Profit H6,900 Lakhs up 14.4% YoY; PAT margin improved to 11%
Management Discussion & Analysis
Various business aspects including market conditions, business opportunities,
challenges etc. have been discussed at length in the Management's Discussion and Analysis
(MD&A), which forms part of this Annual Report.
3. Change in the Nature of Business, if Any
There has been no change in the nature of business of the Company.
4. Transfer to Reserves
During the year the net profit ofH2,864.61 Lakhs was transferred to reserves.
Further, an amount of H16,347.11 Lakhs was utilized for the issuance of Bonus shares
from the Securities Premium Account of the Company.
Also, pursuant to issue of shares of the Company through Initial Public Offer, an
amount of H23,214.28 Lakhs was credited to Securities Premium Account.
5. Dividend
The Company has not declared any dividend during the year under review.
6. Transfer of Unclaimed Dividend to Investor Education and Protection Fund
The provisions of Section 125(2) of the Companies Act, 2013 are not applicable as the
company has not declared any dividend.
7. Share Capital:
Increase of Authorised Share Capital:
The Company has altered its Memorandum of Association (MOA) by increasing its
Authorised Share Capital from H189,00,00,000 to H216,00,00,000 in its Extra-Ordinary
General Meeting held on 1st June 2024.
Bonus Issue:
During the period under review, the Company has issued and allotted 16,34,71,068 Bonus
shares in the ratio of 1:9 aggregating to H163,27,10,680 on 3rd June,2024, to
all the existing shareholders of the company.
Pre-IPO Placement:
The Board of Directors and Shareholders of the Company has approved the Offer and
issuance of 28,57,142 fully paid-up equity shares of face value of H10/- each through a
resolution dated 29th November 2024 through private placement cum preferential
basis to Amansa Investments Limited, Mauritius. The Board of Directors, through resolution
dated 16th December 2024 had allotted 28,57,142 equity shares of face value
H10/- each at a premium of H130/- per share aggregating to H4,000.00 Lakhs.
Initial Public Offer (IPO):
During the year under review, the Company has completed the Initial Public Offer (IPO)
of 2,92,89,367 Equity Shares comprising 1,42,89,367 shares by selling shareholders and a
fresh issue of 1,50,00,000 equity shares of aggregating of H41,005.11 Lakhs. The Public
Issue was open for subscription from 6th January 2025 to 8th January
2025. Pursuant to the IPO, 1,50,00,000 equity shares were offered and allotted to the
public at a price of H140/- per equity share on 9th January 2025 under various
Categories. The Equity shares of the Company were listed on Bombay Stock Exchange Limited
(“BSE”) and the National Stock Exchange of India Limited (“NSE”) on 13th
January 2025.
Details of Authorized Share Capital: Authorized share capital of the company as on
March 31, 2025, was H216,00,00,000/- comprising of 21,60,00,000 Equity Shares of H10/-
each.
Details of Issued, Subscribed and Paid-up Share Capital: The Issued, Subscribed and
Paid-up share capital of the company as on March 31, 2025, was H1,99,49,16,620/-
comprising of 19,94,91,662 Equity Shares of H10/- each.
Buy Back of Securities: The Company has not bought back any of its securities
during the year under review.
Sweat Equity: The Company has not issued any sweat equity shares during the year
under review.
Employees Stock Option Plan: The Company has in place “Employee Stock Option
Scheme 2024” approved by its shareholders in the Extra-Ordinary General Meeting held
on 22nd July 2024. However, no grants to any employee have been made during the
period under review. Policy related website link. https://www.standardglr.com/29 Final
ESOP
8. Material Changes and Commitment affecting the financial position of the company
occurred between the end of the financial year to which these financial statements relate
and the date of the report
There are no material changes and commitments have occurred after the close of the year
till the date of this Report, which affect the financial the Company.
9. Utilization of IPO Proceeds and Monitoring Agency Report:
The Company hereby confirms that during the period under review, the proceeds raised
from the Initial Public Offering ("IPO") have been utilized in accordance with
the objects as stated in the Red Herring Prospectus, without any deviation or variation,
in compliance with the provisions of Regulation 32(6) of the Listing Regulations.
In furtherance of the above, and in accordance with the provisions of Regulation 41 of
the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements)
Regulations, 2018, as amended, the Company has appointed ICRA Limited as the
Monitoring Agency to monitor the utilization of IPO proceeds. The Monitoring Agency has
issued its monitoring reports from time to time, as required under the applicable laws.
The statement(s) of utilization of IPO proceeds and the monitoring reports received
from the Monitoring Agency have been reviewed and noted by the Audit Committee and the
Board of Directors of the Company. Pursuant thereto, the Company has submitted the
requisite disclosures under Regulation 32(6) of the Listing Regulations to both the stock
exchanges where the equity shares of the Company are listed, within the prescribed
timelines.
The following is the status of Utilization of IPO proceeds as on 31st March
2025
Objects of the issue as per the Prospectus |
Amount to be utilized |
Utilisation upto 31.03.2025 |
Unutilised amount as at 31.03.2025 |
| Towards funding of Capital expenditure of Company |
1,000.00 |
70.40 |
929.60 |
| Towards repayment or prepayment, in full or in part, of all or a |
13,000.00 |
13,000.00 |
- |
| portion of certain outstanding borrowings |
|
|
|
| Towards funding of capital expenditure requirements in S2 |
3,000.00 |
- |
3,000.00 |
| Engineering Industry Private Limited |
|
|
|
| Towards in organic growth through strategic investments and/or |
2,000.00 |
- |
2,000.00 |
| acquisitions |
|
|
|
| Towards general corporate purposes |
4,224.50 |
- |
4,224.50 |
Total |
23,224.50 |
13,070.40 |
10,154.10 |
10. Deposits
The Company has not accepted any Deposits during the financial year.
11. Subsidiaries, Joint Ventures and Associate Companies
The following are the Subsidiary Companies of Standard Glass Lining Technology Limited.
Name of the Company |
Nature of Relationship |
Percentage Holding |
| S2 Engineering Industry Private Limited |
Wholly Owned Subsidiary |
100% |
| Standard Engineering Solutions Private Limited |
Wholly Owned Subsidiary |
100% |
| Standard Flora Private Limited |
Subsidiary Company |
51% |
| CPK Engineers Equipment Private Limited |
Subsidiary Company |
51% |
As per Section 129(3) of the Companies Act, 2013 the consolidated financial statements
and its Subsidiary prepared in accordance with the applicable accounting standards forms
part of this Annual Report. Further, a statement containing salient features of the
financial in the prescribed Form in AOC-1 is attached as “Annexure-I”
to the Directors' Report.
Consolidated Financial Statements have been prepared by the Company in accordance with
the requirements of applicable Accounting Standards and the provisions of Companies Act,
2013.
Further, as required under regulation 16(1)(c) of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, the Company has in place a Policy for
determining Material Subsidiaries.The Policy can be accessed at
https://www.standardglr.com/10 Policy for material subsidiaries
Further, Standard Engineering Inc. has been formed as a wholly owned subsidiary
of the Company, the registered office of which is situated at 6650 Rivers Ave. STE 100
CHARLESTON COUNTY Charleston, South Carolina 29406, the USA with effect from 5 th
June 2025.
Except as stated above the Company does not have any other Subsidiary, Joint Venture or
Associate Companies.
12. Particulars of Loans, Guarantees or of Investments made under Section 186 of
the the Company Companies Act, 2013
Pursuant to Section 186 of Companies Act, 2013, the disclosure on particulars relating
to loans, advances, statements of our subsidiaries guarantees and investments are provided
as part of the financialstatements.
13. Particulars of contracts or arrangements made with related parties
In accordance with Section 134(h) of the Companies Act, 2013 and Rule 8(2) of Companies
(Accounts) Rules, 2014, the particulars of contracts or arrangements entered into by the
Company with the Related Parties referred to in Section.188(1) of the Act, have been
provided in Form AOC-2 and attached the same as Annexure-II.
Further, as per SEBI (Listing Obligations and Disclosure Requirement) Regulations,
2015, a policy on dealing with related party transactions is in place and can be viewed on
the website of the Company i.e, https://www. standardglr.com/09 Policy on Material Related
Party Transaction
14. Annual Return
As required pursuant to Section 92(3) of the Companies Act, 2013 and Rule 12(1) of the
Companies (Management and Administration) Rules, 2014 (as amended), a copy of the Annual
Return of the Company shall be placed on the Website of the Company at
www.standardglr.com/ investors
15. Details of Directors and Key Managerial Personnel
The Company has Nine (9) Directors comprising Four (4) Executive Directors and Five (5)
Non-Executive Directors out of which Three (3) are Independent Directors.
A. Changes in Directors and Key Managerial Personnel:
The following changes have occurred during the Financial Year under review:
S. No |
Name of the Director |
Nature of Change |
Effective Date |
| 1. |
Mr. Venkata Siva Prasad Katragadda |
Resignation as an Executive Director |
6th May 2024 |
|
|
*Appointment as an Additional Non-Executive and |
4th August 2025 |
|
|
Non-Independent Director |
|
| 2. |
Mr. Sambasiva Rao Gollapudi |
Appointment as an Independent Director and |
29th May 2024 |
|
|
Chairman |
|
| 3. |
Mrs. Radhika Nannapaneni |
Appointment as an Independent Woman Director |
29th May 2024 |
| 4. |
Mr. Sudhakara Reddy Siddareddy |
Continuation as Non-Executive Independent |
01st August, 2024 |
|
|
Director after attaining 75 years of age |
|
| 5. |
Mr. Kandula Ramakrishna |
Change in Designation from Non-Executive Director |
29th May 2024 |
|
|
to Executive Director |
|
| 6. |
Mr. Ramakrishna Sunkavilli |
Resignation as Independent Director |
5th July 2024 |
| 7. |
Mrs. Kandula Krishna Veni |
Re- appointment as Executive Directors for a |
6th July 2024 |
| 8. |
Mr. Venkata Mohana Rao Katragadda |
period of 5 Years |
|
| 9. |
Mr. Kandula Ramakrishna |
|
|
| 10. |
Mrs. Kallam Hima Priya |
Appointment as Compliance Officer |
29th May 2024 |
*Mr. Venkata Siva Prasad Katragadda (DIN:06606739), who was appointed by the Board of
Directors of the Company with effective from August 04, 2025, based on the recommendation
of Nomination and Remuneration Committee, as an additional director under Section 161(1)
of the Act, who's appointment is subject to the approval of the members in the 13th
AGM.
Pursuant to the provisions of Section 2(51) and Section 203 of the Act, the following
named persons are the Key Managerial Personnel of the Company as on 31st March
2025.
S. No |
Name of the Key Managerial Personnel |
Designation |
| 1. |
Mr. Nageswara Rao Kandula |
Managing Director |
| 2. |
Mr. Venkata Mohana Rao Katragadda |
Executive Director |
| 3. |
Mr. Kandula Ramakrishna |
Executive Director |
| 4. |
Mrs. Kandula Krishna Veni |
Executive Director |
| 5. |
Mrs. Hima Priya Kallam |
Company Secretary and Compliance Officer |
| 6. |
Mr. Anjaneyulu Pathuri |
Chief Financial Officer |
B. Statement on Declaration by the Independent Directors:
The Company has received declarations from all Independent Directors confirming that
they meet the criteria of independence as prescribed under the provisions of Section 149
(6) of the Act read with the Schedule and Rules issued there under as well as Regulation
16 of the Listing Regulations (including any statutory modification(s) or reenactment(s)
thereof for the time being in force). There has been no change in the circumstances
affecting their status as Independent Directors of the Company.
Further, all Independent Directors of the Company have registered their names in the
Independent Directors' Data bank.
The Independent Directors have complied with the Code for Independent Directors
prescribed in Schedule IV of the Act.
C. Formal Annual Evaluation of Board, its Committees and Directors including
Independent Directors:
Pursuant to the provisions of the Companies Act, 2013, the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015, and the Company's Nomination and
Remuneration Policy, the Nomination and Remuneration Committee (“NRC”) in
conjunction with the Board undertook a comprehensive annual evaluation of the performance
of the Board, its various Committees, and individual Directors. This evaluation was
carried out through a structured process incorporating both individual and collective
feedback from all Directors.
In a parallel exercise, the Independent Directors conducted annual review of the
performance of the Chairperson, the non-independent Directors, and the Board as a whole,
in accordance with the statutory framework and best governance practices.
Evaluation questionnaires, encompassing a well-defined set of qualitative and
quantitative criteria to assess the effectiveness of the Board, its committees, individual
Directors, and the Chairperson, were disseminated to all members of the Board.
Directors were requested to provide candid feedback based on their assessment of the
functioning, composition, and dynamics of the Board and its constituents during the
Financial Year 2024 25.
The responses received reflected a high degree of engagement and consensus on the
overall efficacy of the Board's operations. The Directors expressed t care hastheir
satisfaction with the robustness and transparency of the evaluation process, acknowledging
its contribution towards reinforcing a culture of continuous improvement, strategic
alignment, and enhanced governance.
D. Familiarisation Programme for Independent Directors
In compliance with the requirements of Regulation 25(7) of the SEBI Listing
Regulations, the Company has put in place a Familiarisation Programme for the Independent
Directors to familiarise them with the Company, their roles, rights, responsibilities in
the Company, nature of the industry in which the Company operates, business model etc. The
details of the Familiarisation Programme imparted to Independent Directors are available
on the Company's official website athttps://www.standardglr. ectively. com/11 Policy on
familiarization programme for independent directors
E. Opinion of the Board:
The Board is of the opinion that all the independent directors appointed during the
year meet the criteria of independence and the Board is satisfied about their integrity,
expertise and experience (including proficiency).
16. Board of Directors, Meetings and its Committees
During the year under review, eighteen (18) board meetings were held.
The details of meetings held and Director's attendance, training and familiarisation
programme and Annual Board Evaluation process for Directors, policy on Director's
appointment and remuneration including criteria for determining qualifications, positive
independence of Director, and also remuneration for key managerial personnel and other
employees, composition of Audit Committee, establishment of Vigil Mechanism for Directors
and employees, Policy on Director's Remuneration, form a part of the Corporate Governance
Report of this Annual Report.
17. Director's Responsibility Statement
Pursuant to Section 134(3)(c) 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 for the financialyear ended 31 st
March, 2025, the applicable accounting standards and Schedule III of Companies Act, 2013
had been followed and there are no material departures from the same;
(b) that such accounting policies have been selected 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 of the Company for that period;
taken by (c) thatproperand them 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) that the Annual Accounts have been prepared by them on a going concern basis;
(e) That they have laid down Internal Financial Controls to be followed by the Company
and that such Internal Financial Controls are adequate and were operating effectively; and
(f) That they have devised proper systems to ensure compliance with the provisions of
all applicable laws and that such systems were adequate and operating
18. Auditors a. Statutory Auditors
M/s. MSKA & Associates, Chartered Accountants, (Firm Registration Number: 105047W)
were appointed as the Statutory Auditors of the Company to hold office for a term of 4
(four) consecutive years from the conclusion of the 10th Annual General Meeting
(AGM) held on 30th September 2022 until the conclusion of the 14th
Annual
General Meeting (AGM) to be held in the year 2026.
b. Secretarial Auditors and Secretarial Audit Report
Pursuant to the provisions of Section 204 of the Companies Act, 2013 and Rule 9 of the
Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 the Company
has re-appointed M/s. RPR & Associates, Practicing Company Secretaries to undertake
the Secretarial Audit of the Company for the financial year 2024-25. The Secretarial Audit
Report issued in Form MR-3 is in Annexure-III-A to this Report. There are no
qualifications, reservations or adverse remarks in the Secretarial Audit Report.
Further, as per Regulation 24A of SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, based on the recommendation of the Audit Committee, the
Board of Directors in its meeting held on 23rd May 2025, has approved the
appointment of M/s. RPR & Associates, Practicing Company Secretaries, as Secretarial
Auditors for a period of 5 years starting from Financial Year 2025-26 till the end of
Financial Year 2029-30. The Matter is subject to approval of Shareholders at the ensuing
13th Annual General Meeting of the Company.
c. Cost Records and Auditors:
As per the provisions of Section 148(1) of the Companies Act, 2013 read with Companies
(Audit & Auditors') Rules, 2014 and the Companies (Cost Records and Audit) Amendments
Rules, 2014, the Company is required to maintain the cost records in respect of its
business and accordingly such accounts and records are made and maintained.
Based on the recommendation of the Audit Committee, the Board of Directors in its
meeting held on 23rd May 2025, has re-appointed M/s. G K & Associates, Cost
Accountants, as the Cost Auditors of the Company for the Financial Year 2025-26. As
required by the Act, the remuneration of the Cost Auditors has to be ratified by the
Members and accordingly the resolution relating to the Cost Auditors is being placed
before the Members for their ratification th Annual General Meeting of the
Company.
d. Internal Auditors
Pursuant to the provisions of Section 138 of the Companies Act, 2013 read with
Companies (Accounts) Rules, 2014 and based on the recommendation of the Audit Committee
the Board of Directors in its meeting held on 23rd May 2025, has re-appointed
M/s. KY & CO., Chartered Accountants (Firm Registration No. 016381S) as an Internal
Auditor of the Company for the Financial Year 2025-26 to encompasses a systematic,
disciplined approach to evaluating and improving the adequacy and effectiveness of risk
management, control and governance processes and the quality of performance in carrying
out assigned responsibilities. The purpose is to provide reasonable assurance that these
processes are functioning as intended and will enable the objectives and goals to be met
and to provide recommendations for improving the operations of the office in terms of both
efficient
19. Explanation or Comments on Qualifications, Reservations or Adverse Remarks or
Disclaimers Made by the Auditors in their Reports
The Reports given by M/s. MSKA & Associates on the statements of the Company for
the year ended financial 31st March 2025 forms part of the Annual Report and
the Report doesn't contain any qualifications or remarks The notes to the accounts
referred to in the Auditors' Report are self-explanatory and therefore do not call for any
further comments from the Board of Directors.
20. Details in Respect of Frauds Reported by Auditors Under Section 143 (12) other than
those which are Reportable to the Central Government
There are no frauds as reported by the statutory auditors under sub-section 12 of
Section 143 of the Companies Act, 2013 along with rules made there-under other than those
which are reportable to the Central Government.
21. Secretarial Standards
The Company is in compliance with all applicable mandatory secretarial standards issued
by the Institute of Company Secretaries of India (ICSI).
22. Details of significant and material orders passed by the regulators/ courts/
tribunals impacting the going concern status and the Company's operations in future
There are no significant material orders passed by the Regulators/ Courts which would
impact the going concern status of the Company and its future operations.
23. Disclosure of Employee Particulars
The statement containing particulars of appointment and remuneration of managerial
personnel and employees as required under Section 197 read with Rule 5 of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, is attached as “Annexure
IV” and forms part of this Report.
24. Energy Conservation, Technology Absorption & Foreign Exchange Earnings and
Outgo
The information required under Section 134 (3) (m) of the Companies Act, 2013, read
with Rule 8(3) of Companies (Accounts) Rules, 2014, is appended hereto as “Annexure
VI” and forms part of this Report.
25. Adequacy of internal financialcontrols with reference to the Financial Statements
The Company has adequate internal financialcontrols . commensurating with its size and
nature of its business.
The Board has reviewed internal financial the Company with reference to the Financial
Statements of the Company and the Audit Committee monitors the same in consultation with
Internal Auditors of the Company.
26. Risk Management Policy
Your Company had formulated a risk management policy for dealing with different kinds
of risks that it faces in the day-to-day operations of the Company.
Risk Management Policy of the company outlines different kinds of risks and risk
mitigating measures to be adopted by the Board.
The Company has adequate internal financial control systems and procedures to mitigate
the risk. The risk management procedure is reviewed by the Risk Management Committee and
Board of Directors on a regular basis at the time of review of quarterly financial results
of the Company. Further, your Company had constituted a Risk Management Committee which
lays down various risk mitigating practices that your Company is required to implement in
the Company.
27. Nomination and Remuneration Policy
In terms of Section 178 of the Companies Act, 2013 (the “Act”) read with
Regulation 19 and Part D of Schedule II of Securities and Exchange Board of India (Listing
Obligations and Disclosure Requirements) Regulations, 2015, the Company has constituted a
Nomination and Remuneration Committee. The Committee has formulated the Nomination and
Remuneration Policy of the Company which is available on the website of the Company at
https://www.standardglr.com/08 Nomination and Remuneration Policy
Salient Features and objectives of the Policy are as follows:
a) To lay down the criteria for identifying the persons who are qualified to become
directors and who may be appointed in Senior Management and recommending to the Board of
Directors of the Company their appointment and removal.
b) To formulate the criteria for determining attributes qualifications, and
independence for appointment of a director.
c) To formulate the policy relating to remuneration of Directors, Key Managerial
Personnel and Senior Management.
d) To formulate the criteria for evaluation of performance of all the Directors on the
Board.
e) To devise a policy on diversity of the Board of Directors of the Company.
f) To carry out any other function as is mandated by the Board from time to time and /
or enforced by any amendment or modifications statutorynotification, as may be applicable.
28. Corporate Social Responsibility
The Corporate Social Responsibility Committee has formulated and recommended to the
Board a Policy on Corporate Social Responsibility (CSR Policy) indicating the activities
to be undertaken by the Company which has been approved by the Board. The Board, on the
recommendation of the CSR Committee, adopted a CSR Policy that strives to meet its
societal objectives in accordance with Schedule VII of the Act. The same is available on
the Company's website www.standardglr. com/investors
The report on CSR activities as per the Companies (Corporate Social Responsibility
Policy) Rules, 2014 is annexed to this Report at Annexure V.
29. Whistle Blower Policy/Vigil Mechanism
In staying true to our values of Passion, Result-Oriented, Wellness, Transparent &
Trust, Customer Success, give back and in line with our vision of being one of the most
respected companies, the Company is committed to the high standards of Corporate
Governance and stakeholder responsibility.
In line with requirement of the Companies Act, 2013, Vigil Mechanism/Whistle Blower
Policy has been formulated for Directors and employees to report concerns about unethical
behavior, actual or suspected fraud or violation of Company's Code of Conduct etc. The
said Policy provides for adequate safeguard against victimization of directors/employees
who avail of such mechanism and provides access to the Chairman of Board of Directors in
exceptional cases. It is that no person has been denied access to the Chairman. The policy
for Whistle Blower Mechanism is placed on the company's website and can be accessed at
https:// www.standardglr.com/07 Whistle blower Policy
During the year, no Whistle Blower complaints were received.
30. Rating
The credit rating has upgraded by Credit Rating Information Services of India Limited
(CRISIL) with regards to the banking facilities enjoyed by your Company from its Bankers
as “CRISIL A/Stable” against “CRISIL A-/Positive” (for long term
facilities) and “CRISIL A1” against “CRISIL A2+” (for short term
facilities) with a stable outlook.
31. Insurance
All properties and insurable interests of the Company including buildings, plant and
machinery and stocks have been fully insured.
32. Mergers and acquisitions
During the year under review, there were no mergers/ acquisitions carried out by the
company.
33. Insolvency proceedings
During the financial year under review, no insolvency proceedings have been initiated
or pending against the Company.
34. Disclosure under the Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013
The Company has formulated and implemented a policy for Prevention of Sexual Harassment
of Women at workplace. During the year under review, the Company has not received any
complaints under the policy.
The Company has many systems, processes and policies to ensure professional ethics and
a harmonious working environment. We follow Zero Tolerance towards Corruption and
unethical conduct. These are ensured through whistle-blower Policy, Anti-Corruption
Policy, Gift Policy, Sexual Harassment Policy and Redressal Guidelines.
The Company has complied with provisions relating to the constitution of Internal
Complaints Committee (ICC) under the Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013.
Details of Sexual Harassment Complaints received during the year are as follows
| No. of complaints of sexual harassment |
0 (Zero) |
| received in the year |
|
| No. of complaints disposed off during |
0 (Zero) |
| the year |
|
| No. of cases pending for more than |
0 (Zero) |
| ninety days |
|
35. Statement on Compliance with the Maternity Benefit Act, 1961
Your company affirms its commitment to upholding the rights and welfare of its
employees in accordance with applicable laws and regulations. We hereby confirm that the
Company is fully compliant with the provisions of the Maternity Benefit Act, 1961, as
amended from time to time.
We ensure that all eligible women employees are granted maternity leave and benefits as
mandated under the Act.
36. Disclosure about the difference between the amount of the valuation executed 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
During the financial year endedst 31 March, 2025, the Company had not
entered into any settlement with Banks and Financial Institutions and hence the said
clause is not applicable.
37. Events Subsequent to Date of Financial Statements
Standard Engineering Inc. has been formed as a wholly owned subsidiary of the Company,
the registered office of which is situated at 6650 Rivers Ave. STE 100 CHARLESTON COUNTY
Charleston, South Carolina 29406, the USA with effect from 5 th June 2025.
Based on the recommendation of Nomination and Remuneration Committee, Mr. Venkata Siva
Prasad Katragadda (DIN:06606739), was appointed by the Board of Directors of the Company
with effective from August 04, 2025, as an additional director under Section 161(1) of the
Companies Act, 2013. His appointment is subject to the approval of the members in the 13th
AGM.
38. Acknowledgements
The Board of Directors take this opportunity to place on record their appreciation to
all the Stakeholders of the Company, viz., customers, investors, banks, regulators,
suppliers and other business associates for the support received from them during the year
under review. The Directors also wish to place on record their deep sense of gratitude and
appreciation to all the employees for their commitment and contribution towards achieving
the goals of the Company.
|
|
For and on behalf of the Board of Directors of |
|
|
Standard Glass Lining Technology Limited |
|
Kandula Nageswara Rao |
Venkata Mohana Rao Katragadda |
| Date: 4th August 2025 |
Managing Director |
Executive Director |
| Place: Hyderabad |
DIN: 00762497 |
DIN: 08362181 |
|