NECTAR LIFESCIENCES LIMITED
Dear members, 1. Your directors take pleasure in presenting the
30th Annual Report together with the audited financial statements of Nectar Lifesciences
Limited ( NLL or Neclife or Nectar or the Company ) for the Financial Year ( FY ) ended
March 31, 2025.
Financial results and state of affairs
|
31-Mar-25 |
31-Mar-24 |
| Gross Sales (Including GST) |
19083.98 |
19258.32 |
| Other Income |
49.92 |
145.76 |
| Profit (Loss) before interest and |
(245.66) |
1661.36 |
| depreciation & exceptional items |
|
|
| Interest |
745.78 |
871.42 |
| Depreciation & Amortization |
623.89 |
607.18 |
| Profit (Loss) before exceptional items & tax |
(1615.34) |
182.76 |
| Exceptional items (Net of Tax) |
- |
- |
| Profit (Loss) before tax |
(1615.34) |
182.76 |
| Tax expenses |
(478.53) |
132.74 |
| Profit (Loss) after tax |
(1136.81) |
50.02 |
| Other Comprehensive income |
5.40 |
(3.42) |
| (Net of Taxes) |
|
|
| Profit (Loss) after tax available for |
(1131.41) |
46.60 |
| Appropriations |
|
|
The Company s revenue during FY 2024-25 stood at INR 19084/-million
against INR 19258/- million in the previous year recording a decrease of 0.91%. The
Company reported a loss before tax of INR 1615.34 million in FY 2024-25 compared to profit
before tax of INR 182.76 million in FY 2023-24 with a decrease of 983.86%.
During the financial year 2020-21, based on expert s (nominated by the
Lead Bank) findings, the Company has reclassified certain inventories from Current to Non-
Current . Notwithstanding the reports furnished by technical expert about the remaining
non-current inventory, the management has, adhering to conservatism principle, decided to
mark down the realizable value of inventory to INR 506.13 million from INR 1773.31
million, based on the fact that the inventory has been in stocks for a considerable
period. The resultant loss has been charged to profit and loss account in 2024-25.
The detailed discussion on Company s various operations, state of
Company s affairs, nature of business and changes therein are set out in Management
Discussion and Analysis Report ("MDA").
The MDA of financial condition and result of operations of the Company
for the year under review as required under Securities and Exchange Board of India ( SEBI
) (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( LODR Regulations
), is given as Annexure 1 and forms and part of this report. Any disclosure not given in
this report and its annexures but disclosed in Annexure 1, shall be deemed to be reported
in this report and vice versa. As the Company is not in the top 1000 companies list
based on the Market Capitalisation from March 31, 2022 to December 31, 2024, the Business
Responsibility and Sustainability Report ( BRSR ) is not be applicable to the Company.
Board of Directors of Company in their meeting held on July 07, 2025,
have approved the:
1. Sale of business of manufacture, distribution, marketing of active
pharmaceutical ingredients and formulations ( Business ) of the Company to Ceph
Lifesciences Private Limited ( Purchaser ) for INR 12,70,00,00,000/- (Indian Rupees one
thousand two hundred seventy crore only) as a slump sale on a going concern basis. For
this purpose, a business transfer agreement dated July 07, 2025 has been executed between
the Company and the Purchaser ( BTA ) and the Proposed Transaction shall take place in
accordance with the terms set out in the BTA and subject to adjustments in accordance with
the terms of the BTA. The members in their 2025-26/01st Extraordinary General Meeting have
approved the transaction by way special resolution as well as by majority of public
shareholders.
2. Sale, transfer and delivery of the assets of the Company in relation
to its menthol business ( Assets ) to Purchaser for INR 20,00,00,000/- (Indian Rupees
Twenty Crores only), plus applicable GST payable on the sale of such Assets under the
applicable law, on the terms and conditions as set out in the asset purchase agreement
dated July 07, 2025 ( APA ) executed between the Company and the Purchaser.
The object and commercial rationale for the above transactions were to
utilise the sale proceeds for strategic purposes, including repayment of existing debt,
investment in new projects, rewarding shareholders in the form of special dividends and /
or Buyback of Equity Shares by the Company or mix of both and general corporate purposes,
as deemed fit by the Board or its committee, in accordance with applicable law.
There has been no change in the nature of business of the Company.
Apart from above and discussed in MDA, if any, there are no material changes and
commitmentsaffecting the financial position of the company during and after the
closure of FY. The financial results of the company for the quarter ended on June 30,
2025, will be made available on the website of the company (URL: https://
www.neclife.com/about-1 ).
Indian Accounting Standards ("Ind AS") and Secretarial
Standards
The company has adopted Ind AS prescribed under section 133 of the
Companies Act, 2013 ( Act ), read with the relevant rules issued there under and
accordingly, standalone and consolidated audited financial statements have been prepared
in accordance with the recognition and measurement principles laid down in Ind AS and the
other accounting principles generally accepted in India.
The Company is in compliance of Secretarial Standards as issued by
Institute of Company Secretaries of India ( ICSI ).
Corporate Governance
The Company aimed to conduct its affairs in an ethical manner. A
separate Report on Corporate Governance is given as Annexure 2 and forms part of this
report. A certificate from the Company s Auditors regarding the Compliance of Conditions
of Corporate Governance as stipulated under LODR Regulations is given in Annexure 3. Any
disclosure not given in this report and its annexures but disclosed in Annexure 2, shall
be deemed to be reported in this report and vice versa.
Share capital
The authorised capital of the Company is INR 350.00 million divided
into 350 million equity shares of INR 1.00 each. The paid-up equity share capital as on
March 31, 2025, was INR 224.26 million. There was no public issue, rights issue, bonus
issue or preferential issue, etc. during the FY. The Company has not issued shares with
differential voting rights, sweat equity shares, nor has it granted any stock options.
Thus, nothing to report on change in share capital.
Global Depository Receipts (GDRs)
During the year all the GDRs underlying the equity shares in the
Company have been stand cancelled and converted to equity shares therefore, no outstanding
GDRs are pending or held by Deutsche Bank Trust Company Americas, the Depository of GDRs.
Therefore, the GDRs have been delisted from Luxembourg Stock Exchange ( LuxSE ) with
effect from November 28, 2024.
Subsidiary Company
The Company has wholly owned subsidiary ( WOS ) namely NECLIFE PT,
UNIPESSOAL LDA ( NECLIFE PT ), incorporated in Portugal. There is negligible investment in
NECLIFE PT, and no business activity has been carried out therein in FY 2024-25 and till
date in FY 2025-26. Therefore, nothing is to report on the performance and financial
position of NECLIFE PT. The contribution of WOS in the performance of the Company was/ is
negligible.
Pursuant to the provisions of Section 129(3) of the Act, a statement
containing salient features of financial statements of subsidiaries, associates and joint
venture companies in Form AOC-1 is attached to the Financial Statements. The separate
financial statements in respect of the NECLIFE PT shall be kept open for inspection at the
Registered Office of the Company during working hours for a period of 21 days before the
date of the Annual General Meeting ( AGM ). Your Company will also make available these
documents upon request by any Member of the Company interested in obtaining the same. The
separate audited/ unaudited financial statements in respect of the NECLIFE PT are also
available on the website of your Company at URL:
https://www.neclife.com/_files/ugd/6aa048_fb0ac3f9212f4778b0d7cc20f4958bf1.pdf. The WOS is
not material as per Policy for determining Material Subsidiaries of the Company and LODR
Regulations. The Company does not have any associate company or joint venture company,
therefore, nothing to report thereon.
Consolidated financial Statements
As required under Section 129 of the Act and LODR Regulations,
consolidated financial statements for the year ended on March 31, 2025, of the Company are
attached.
Dividend, Reserves and Dividend Distribution Policy
Considering the financial position of the Company, your directors have
decided not to recommended a Dividend for the year ended March 31, 2025. The Board of
Directors of your company, has decided not to transfer any amount to the Reserves for the
year under review. The Dividend Distribution Policy is placed on the website of the
Company at https://www.neclife.com/_files/ugd/6aa048_08a096eaff2643ee8944920c02642ea8.pdf
and Company is in compliance of the same.
The members may please refer to notes of Notice of AGM for information
on shares/dividend transferred / proposed to be transferred to IEPF Authority.
Directors and Key Managerial Persons
Mr. Sanjiv Goyal (DIN: 00002841), Director will retire by rotation in
the forthcoming AGM and being eligible, offer himself for reappointment. The Board
recommends his re-appointment as a Director.
Mr. Sanjiv Goyal (DIN-00002841) has been re-appointed as a Chairman
& Managing Director of the company w.e.f. May 31, 2025 for a period of 3 years by the
members in their AGM held on September 21, 2024.
Mr. Puneet Sud (DIN: 09735713) has been re-appointed as a Wholetime
Director designated Director (Operations) of the company for a period of six months and
seven days starting from September
24, 2024 and ending on March 31, 2025 by members in their AGM held on
September 21, 2024. Pursuant to the authority granted by the members in their AGM held on
September 21, 2024, the Board has in their meeting held on April 01, 2025, re-appointed
Mr. Puneet Sud as a Whole-time Director designated as Director (Operations) of the Company
for a period of two months starting from April 1, 2025 and ending on May 31, 2025. On
expiry of his term on May 31, 2025, Mr. Sud has also tendered his resignation as a
Director of the Company with effect from closing hours of May 31, 2025.
Based on the recommendation of NRC, the Board of Directors vide their
resolutions dated May 30, 2025, have appointed Dr. Surulichamy Senthilkumar (DIN-
11124083) as an Additional Director of the Company w.e.f. June 01, 2025 as well as Whole
time Director designated as Director (R&D) of the Company for a period of three years
from June 01, 2025. He has been appointed as regular director and his appointment as a
Whole time Director designated as Director (R&D) approved, by the members in their
Extraordinary General Meeting held on August 04, 2025.
The Company has received declarations from all the Independent
Directors of the Company confirming that:
1. They meet the criteria of independence as prescribed both under
sub-section (6) of Section 149 of the Act, and under LODR Regulations;
2. They hold highest standards of integrity and possess requisite
expertise and experience (including proficiency in terms of Section 150(1) of the Act and
applicable rules thereunder) required to fulfill their duties as Independent Directors;
3. They are in compliance of sub-rule (1), sub-rule (2) and sub-rule
(4) of Rule 6 of Companies (Appointment and Qualifications of Directors) Rules, 2014;
4. They have complied with the Code of Conduct for Directors and senior
management.
Your Directors do hereby confirm that in the opinion of the board the
independent directors; a. fulfil the conditions specified in the Act and LODR Regulations;
b. are independent of the management; and c. possess integrity, expertise and experience
(including the proficiency in terms of Section 150(1) of the Act).
As on the date of the end of FY, the company has right proportion of
Independent Directors viz a viz Non-Independent Directors as per applicable provisions of
Section 149 of the Act, and LODR Regulations.
Ms. Neha Vaishnav, Company Secretary & Compliance Officer has
resigned from the Company w.e.f. February 28, 2025 and Board has in their meeting held on
April 01, 2025, appointed Mr. Sanjaymohan Singh Rawat as a Company Secretary &
Compliance Officer of the Company.
Pursuant to the provisions of Section 203 of the Act, the key
managerial personnel of the Company as on March 31, 2025, were as under: Mr. Sanjiv Goyal,
Chairman & Managing Director Mr. Puneet Sud, Director (Operations) Mr. Amit Chadah,
Chief Executive Officer ( CEO ) Mr. Sushil Kapoor, Chief Financial Officer ( CFO )
Number of meetings of the board
Four (4) meetings of the board were held during the year. The details
of Directors attendance and meeting held during FY 2024-25 are provided in Corporate
Governance Report which forms and part of this report.
Directors' responsibility statement
The Directors confirm that:
in the preparation of the annual accounts, the applicable accounting
standards have been followed and that no material departures have been made from the same;
they 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 FY and of the profit &
loss of the Company for that period; they have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the provisions of the Act,
for safeguarding the assets of the Company and for preventing and detecting fraud and
other irregularities; they have prepared the annual accounts on a going concern basis;
they have laid down internal financial controls for the Company and such internal
financial controls are adequate and operating effectively; and they have devised proper
systems to ensure compliance with the provisions of all applicable laws and such systems
are adequate and operating effectively.
Committees of the Board
The Company constituted the Committees as per the provisions of
Sections 135, 177, 178 and other applicable provisions of the Act and LODR Regulations.
The composition, powers and duties of the Committees, during FY 2024-25, are detailed out
in the Corporate Governance Report which forms part of this report. The Board of Directors
accepted all recommendations of the Audit Committee.
Policy on directors' appointment and remuneration and other
details
The Company s policy on directors appointment and remuneration and
other matters namely Nomination, Remuneration & Evaluation Policy as provided in
Section 178(3) of the Act has been uploaded on the website of the company at
https://www.neclife.com/_files/ugd/6aa048_17d769b4f1064d5eadb8fb8d97a4520f.pdf. The
salient features of the Policy are to provide a framework and set standards for the
nomination, remuneration & evaluation of the Directors, Key Managerial Personnel and
officials comprising the Senior Management. The Company aims to achieve a balance of
merit, experience and skills amongst its Directors, Key Managerial Personnel and Senior
Management. The criteria for Appointment of Directors/KMPs/Senior Officials are as under:
For Enhancing the competencies of the Board and attracting as well as retaining talented
employees for role of KMP/a level below KMP are the basis for the NRC to select a
candidate for appointment to the Board. When recommending a candidate for appointment, the
NRC has regard to: Assessing the appointee against a range of criteria which includes but
not be limited to qualifications, skills, regional and industry experience, background and
other qualities required to operate successfully in the position, with due regard for the
benefits from diversifying the Board; The extent to which the appointee is likely to
contribute to the overall effectiveness of the Board, work constructively with the
existing directors and enhance the efficiencies of the Company; The skills and experience
that the appointee brings to the role of KMP/Senior Official and how an appointee will
enhance the skill sets and experience of the Board as a whole;
The nature of existing positions held by the appointee including
directorships or other relationships and the impact they may have on the appointee s
ability to exercise independent judgment.
The criteria for deciding the Remuneration of Directors, Key Managerial
Personnel and Senior Management are as under: The guiding principle is that the level and
composition of remuneration shall be reasonable and sufficient to attract, retain and
motivate Directors, Key Management Personnel and other senior officials.
The Directors, Key Management Personnel and other senior official s
salary shall be based & determined on the individual person s responsibilities and
performance and in accordance with the limits as prescribed statutorily, if any and other
relevant factors including but not limited to market, business performance and practices
in comparable companies, having due regard to financial and commercial health of the
Company as well as prevailing laws and government/other guidelines.
There could be following component of Remuneration: a) Base
Compensation (fixed salaries): Must be competitive and reflective of the individual s
role, responsibility and experience in relation to performance of day-to-day activities,
usually reviewed on an annual basis; b) Variable salary: The NRC may in its discretion
structure any portion of remuneration to link rewards to corporate and individual
performance, fulfillment of specified improvement targets or the attainment of certain
financial or other objectives set by the Board.
There is no change in the policy during FY 2024-25.
Board evaluation
Pursuant to the provisions of the Act and LODR Regulations, the
evaluation of the Board involves multiple levels:
1. Board as a whole;
2. Committees of the Board;
3. Individual Directors and Chairperson, CEO, Independent Directors,
Non-independent directors, etc.
The performance of the Board and committees was evaluated by the NRC
and the Board after seeking inputs from all the directors/ committee members on the basis
of the criteria such as the Board/ committee composition and structure, effectiveness of
board processes, information and functioning, etc.
The following information is provided in agenda papers for evaluation
of: A. Board
1. Frequency of meetings
2. Attendance by Board members
3. Duration and conduct of meetings
4. Agenda and documentation
5. Board Structure
6. Functions of the Board
7. Communications and Interaction B. Committees
1. Size of the Committee is appropriate for the complexity &
operations of the organization.
2. Effectiveness of the Committee in performing its role and
discharging its responsibilities (as mandated under the Act and the LODR Regulations).
3. The Committee oversees the terms of references assigned to it/ its
statutory obligations/ role defined.
4. The Committee review / approves matters of its terms of reference.
5. Agenda of the Committees are being circulated at a reasonable time
in advance
6. Draft and Signed Minutes of the Committees circulated to the members
of the Committee.
7. Minutes of meeting(s) of the Committee are placed before the Board
regularly.
8. The Committee effectively performs support functions to the Board in
fulfilling its responsibilities.
9. Overall functioning of the Committee.
C. Independent Directors, Chairman & Managing Director, Wholetime
Director and CEO:
1. Consistently and actively participated in the board and committee
meetings.
2. Prepared adequately for the board/ committee meetings.
3. Contributed to strategy and other areas impacting Company
performance.
4. Brought their experience and credibility to bear on the critical
areas of performance of the company.
5. Kept updated knowledge of their area of expertise.
6. Communicated in open and constructive manner.
7. Gave fair chance to other members to contribute, participates
actively in the discussions and were consensus oriented.
8. Helped to create positive image of the Company and helped the
Company wherever possible.
9. Actively contributed toward positive growth of the Company.
10. Conducted themselves in a manner that was ethical and consistent
with the laws of the land.
11. Attitude
12. Application to the job
The NRC and the Board have reviewed the performance of the individual
directors and CEO on the basis of the criteria such as the contribution of the individual
director to the Board and committee meetings like preparedness on the issues to be
discussed, meaningful and constructive contribution and inputs in meetings, etc. In
addition, the Chairman was also evaluated on the key aspects of his role. The performance
evaluation forms of each of director get filled from all directors based on Knowledge,
Skills, Attitude, Application to the job, Communication, Human Behavior & Teamwork and
Overall Performance.
In a separate meeting of independent Directors, performance of
non-independent directors, performance of the board as a whole and performance of the
Chairman and CEO was evaluated on the basis of parameters as provided above.
Internal financial control systems and their adequacy
The company has adequate financial controls. The details in respect of
internal financial control and their adequacy are included in the MDA, which forms part of
this report.
Auditors
M/s Deepak Jindal & Co, Chartered Accountants (Firm Registration
No. 023023N) have been appointed as the Statutory Auditors of the Company in the 27th AGM
held on September 21, 2022, for a period of five years commencing from the conclusion of
the 27th AGM till the conclusion of the 32nd AGM to be held in the year 2027.
Auditors' Report
The Report given by the M/s Deepak Jindal & Co, on the financial
statements of the Company is part of the Annual Report. There has been no qualification,
reservation, adverse remark or disclaimer given by the Auditors in their Report.
Observations made in the Auditors Report are self-explanatory and therefore do not call
for any further explanation.
Secretarial Auditor and Secretarial Audit Report
Secretarial Audit has been carried out by Mr. Prince Chadha of P.
Chadha & Associates, Practicing Company Secretary, the Secretarial Auditor of the
company for FY 2024-25. The Secretarial Audit Report is appended as Annexure 4 to this
report. There were no qualifications, reservation or adverse remarks given by Secretarial
Auditors of the Company. Observations made in the Auditors Report are self-explanatory and
therefore do not call for any further explanation.
The Company has undertaken an audit for the FY 2024-25 for all
applicable compliances as per SEBI Regulations and Circulars/ Guidelines issued
thereunder. The Annual Secretarial Compliance Report has been submitted to the stock
exchanges within 60 days of the end of the FY and also available on the website of the
Company at www.neclife.com.
Pursuant to amendments in LODR effective from April 01, 2025, the Board
of Directors on recommendations of Audit Committee proposed the appointment of Mr. Prince
Chadha of P. Chadha & Associates, Company Secretary in Practice (Firm Registration No.
12409) as the Secretarial Auditors of the Company, for a period of five years for FY
2025-26 to FY 2029-30.
Mr. Prince Chadha of P. Chadha & Associates have consented to their
appointment as Secretarial Auditors and have confirmed that if appointed, their
appointment will be in accordance with Section 204 read with other applicable provisions
of the Act and LODR Regulations.
Cost Records and Audit
The Company is required to maintain cost records as specified by the
Central Government under sub-section (1) of section 148 of the Act and accordingly such
accounts and records are made and maintained.
The Cost Auditor has submitted the Cost Audit Report for FY 2023-24 on
August 14, 2024, which has been filed on September 04, 2024, within the prescribed time.
The Cost Auditor will forward the Cost Audit Report for FY 2024-25 by
September 27, 2025. The report will be filed with the Ministry of Corporate Affairs within
30 days of the date of Cost Audit Report. The Company has re-appointed Dr. Vimal Kumar
Aggarwal (Membership No. 9982) prop. of M/s V. Kumar and Associates, #G-104, Jaipuria
Sunrise Green, VIP Road, Zirakpur, SAS Nagar (Mohali) Punjab-140603, Cost and Works
Accountants as the Cost Auditors of the Company for FY 2025-26.
Report by Auditors under Section 143(12) of the Act
None of the Auditors have reported any fraud under sub-section (12)
ofsection 143 of the Act to the Audit Committee or the Board.
Risk management
The development and implementation of risk management policy has been
covered in the MDA, which forms part of this report. The audit committee has additional
oversight in the area of financial risks and controls. Major risks identified by the
businesses and functions are systematically addressed through mitigating actions on a
continuing basis.
Particulars of loans, guarantees and investments
The Company has not given any loan or provided guarantee or security as
per Section 186 of the Act, however, the amount receivable from subsidiaries, if any, and
the investments under section 186 of the Act are given in the Financial Statements forming
part of the Annual Report.
Transactions with related parties
Information on transactions with related parties pursuant to Section
134(3)(h) of the Act read with rule 8(2) of the Companies (Accounts) Rules, 2014 are given
in Annexure 5 in Form AOC-2 and the same forms part of this report. Further details about
these transactions are provided in Report on Corporate Governance and Financial Statements
forming part of the Annual Report.
Corporate social responsibility
The information as required under Section 135 of the Act and Companies
(Corporate Social Responsibility Policy) Rules, 2014 ( CSR Rules ), the brief outline of
the Corporate Social Responsibility ( CSR ) Policy of the Company and the initiatives
undertaken by the Company on CSR activities during the year are set out in Annexure 6 of
this report in the format prescribed in the CSR Rules. The CSR policy is available on the
website of the Company.
Annual Return and Extract of annual return
As provided under Section 92(3) of the Act, the Annual Return (MGT-7)
is also available on the website of the company at
https://www.neclife.com/_files/ugd/6aa048_03ac85dcb08f4eac9116183dd27f8feb.pdf.
Employees
The information required under Section 197 of the Act read with rule
5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014
is attached as Annexure 7. In terms of proviso to Section 136 of the Act, the Report and
Accounts are being sent to the Members and others entitled thereto, excluding the
information on employees particulars as required pursuant to provisions of Rule 5(2) and
5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.
The said information is available for inspection by the Members at the Registered Office
of the Company during business hours on working days of the Company up to the date of the
ensuing AGM. If any Member is interested in obtaining a copy thereof, such Member may
write to the Company Secretary in this regard. This information is also available on the
website of the Company (URL: www.neclife.com).
Deposits from Public
The Company has not accepted any deposits from public within the
meaning of Sections 73 and 74 of the Act and extant Rules framed thereunder during the
financial year 2024-25 and, as such, no amount on account of principal or interest on
deposits from public was outstanding as on the date of this report.
Significant and Material Orders passed by the Regulators or Courts or
Tribunals impacting the going concern status and Company's operations in future
Considering the slump sale of Business, there were no significant and
material orders passed by the Regulators or Courts or Tribunals impacting the going
concern status and Company's operations in future. However, some material orders passed
are disclosed in the disclosures part of Corporate Governance Report of the Company.
The 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.
The Company has not made any one-time settlement for loans taken from
the Banks or Financial Institutions during the financial year under review. Therefore, it
is not applicable.
Disclosure requirements
Details of the familiarization programme of the independent directors
are available on the website of the Company (URL: https://www.neclife.com/about-3-11).
Policy for determining material subsidiaries of the Company is
available on the website of the Company
(https://www.neclife.com/_files/ugd/6aa048_4d7e3d59872e4416a7a93371bc898f7c.pdf). Policy
on dealing with related party transactions is available on the website of the Company
(URL: https://www.neclife.com/_files/ugd/6aa048_c454aa58de1b40dca8c41354a7d5e7b5.pdf). The
Whistle Blower Policy to provide Vigil Mechanism for employees including directors is
available on the website of the Company (URL:
https://www.neclife.com/_files/ugd/6aa048_cafe48f72d7144a5928e793ccdbe532d.pdf).
Committee and Policy against Sexual Harassment of women at Workplace
The company has complied with provisions relating to the constitution
of Internal Complaints Committee under theSexual Harassment of Women at Workplace
(Prevention, Prohibition and Redressal) Act, 2013 ( POSH Act ).
The Company has made the Policy for Prevention of Sexual Harassment (
POSH Policy ) under POSH Act for all individuals working for the Company at all levels and
grades, including senior executives, officers, employees (whether permanent, fixed term or
temporary), consultants, contractors, trainees, staff, casual workers, interns. As per
policy any aggrieved woman employee who feels and is being sexually harassed directly or
indirectly may make a complaint of the alleged incident to any member of the Committee
constituted for this purpose.
Disclosures in relation to the POSH Act: a. number of complaints
pending as on April 01, 2024 NIL b. number of complaints filed during the FY 2024-25 NIL
c. number of complaints disposed of during the FY 2024-25 N.A. d. number of complaints
pending as on March 31, 2025 N.A. e. number of cases pending for more than ninety days
N.A.
Compliance of the Maternity Benefit Act 1961
The Company is fully compliance with the provisions relating to the
Maternity Benefit Act 1961.
Energy, technology and foreign exchange
The particulars relating to conservation of energy, technology
absorption, foreign exchange earnings and outgo, as required to be disclosed under the
Act, are provided in Annexure 8 to this Report.
Acknowledgement
Your Directors would like to express their sincere and grateful
appreciation for the assistance and cooperation received from bankers and government
authorities and also thank the shareholders for the confidence reposed by them in the
Company and looking forward to their valuable support in the future plans of the Company.
Your Directors also thank its agents, the medical professionals and its customers for
their continued patronage to the Company s products.
|