To,
The Members,
Spectrum Electrical Industries Limited (CIN: L28100MH2008PLC185764) Gat No. 139/1 and
139/2, Umala, Jalgaon, Maharashtra - 425003, India.
The Directors of your Company are pleased to present their 17th Annual Report on the
business and operations of the Company along with the Standalone and Consolidated Audited
Annual Financial Statements and the Auditors' Report thereon for the financial year ended
on 31st March, 2025.
1. FINANCIAL HIGHLIGHTS:
PARTICULARS |
Standalone |
Consolidated |
| 31.03.2025 |
31.03.2024 |
31.03.2025 |
31.03.2024 |
| Revenue from Operation |
39,709.09 |
32,226.27 |
40,223.71 |
32,808.52 |
| Other Income |
456.36 |
621.34 |
459.81 |
622.49 |
| Total Revenue Income |
40,165.45 |
32,847.61 |
40,683.52 |
33,431.02 |
| Total Expenditure |
36,650.78 |
30,196.08 |
37,096.83 |
30,745.37 |
| Profit Before Tax |
3,514.67 |
2,651.53 |
3,586.68 |
2,685.64 |
| Profit After Tax |
2,427.88 |
1,917.98 |
2,542.24 |
1,941.82 |
2. DIVIDEND:
The Board of Directors of your company, after considering holistically the relevant
circumstances, has decided that it would be prudent, not to recommend any Dividend for the
financial year under review. Statement of Unpaid/Unclaimed Interim Dividend for the year
2023-24. Status as on 31st March, 2025
SR. NO. Date of Declaration of Interim Dividend |
Name of Shareholder |
Address |
Unpaid/Unclaimed Interim Dividend Amount (Amount in INR) |
1 15th May, 2023 |
Jitendra Prakash Pawar |
PL No. 889 Gat No. 253, SV FA Z Road, Savda Tal Raver, Dist. Jalgaon,
Maharashtra 425502, India. |
2,000 |
Dividend Distribution Policy
Pursuant to Regulation 43A of the Securities and Exchange Board of India (Listing
Obligations and Disclosure Requirements) Regulations, 2015 (SEBI Listing Regulations], the
Board of Directors of the Company had formulated a Dividend Distribution Policy (‘the
Policy').
The Policy is available on the Company's website:
https://www.spectrum-india.com/#/announcement/PDF1728637759277.pdf
3. SHARE CAPITAL:
Authorized Capital: The authorized share capital of the Company is Rs.1,750.00
Lakhs consisting of 1,75,00,000 equity shares of Rs. 10/- each.
Issued, Subscribed and Paid-up Capital: During the year under review, the Issued,
Subscribed and Paid-up Share Capital of the Company is Rs.1,560.66 Lakhs consisting of
1,56,06,590 equity shares of Rs. 10/- each.
There is no change in the Share Capital of the Company during the reporting period.
DEPOSITORY SYSTEM:
All the 1,56,06,590 Equity Shares of the Company are in dematerialized form as on 31st
March, 2025.
4. TRANSFER TO RESERVES:
The Board of Directors has decided to transfer a sum of Rs.2,427.86 Lakhs to General
Reserve during the financial year ended on 31st March, 2025.
5. MEETINGS OF THE BOARD OF DIRECTORS, ITS COMMITTEES: Board of Directors and
its Committees Meeting:
The Board met Six (6) times during the financial year (meetings dates - 07/05/2024,
27/06/2024, 05/09/2024, 12/11/2024, 06/12/2024 & 11/02/2025). Details of the meetings
of the Board and its Committees, please refer to the Corporate Governance Report forming
part of this Report as an Annexure III The intervening gap between two meetings was
within the period prescribed by the Companies Act, 2013.
6. THE SUMMARY OF OPERATION IS AS UNDER: Standalone Financials:
During the year under review, the revenue from operations of the Company grew by 23.22%
to Rs.39,709.09 Lakhs compared to Rs.32,226.27 Lakhs in the previous year. The profit for
the year increased by 26.59% to Rs.2,427.88 Lakhs compared to Rs.1,917.96 Lakhs in the
previous year.
Consolidated Financials:
During the year under review, the Company's consolidated revenue for FY 2024-25
increased by 22.60% to Rs.40,223.71 Lakhs compared to Rs.32,808.52 Lakhs in the previous
year. The Profit after tax (PAT) for FY 2024-25 increased by 30.92 % to Rs.2,542.24 Lakhs
compared to Rs.1,941.82 Lakhs in the previous year.
7. MATERIAL CHANGES AND COMMITMENTS
There have been no material changes or commitments occurred between the end of the
financial year to which the financial statements relate and the date of this report that
affect the financial position of the company.
8. LOANS, GUARANTEES AND INVESTMENTS:
Details of Loans, Guarantees and Investments covered under the provisions of Section
186 of the Companies Act, 2013 are given in the notes to the Financial Statements and
Audit Reports thereon.
9. ANNUAL RETURN:
The Annual Return in form MGT-7 as required under Section 92 of the Companies Act, 2013
for the financial year ended on 31st March, 2025 shall be published on company's website
i.e. www.spectrum-india.com
10. CHANGE IN NATURE OF BUSINESS, IF ANY:
During the reporting year, there is no change in the nature of business of the Company.
11. 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 (Meeting of Board and it powers) Rules, 2014, the Company has adopted
Whistle Blower Policy/Vigil Mechanism for directors and employees to report concerns about
unethical behaviour, actual or suspected fraud or violation of the Code of Conduct. It
also provides for adequate safeguards against victimization of directors /employees who
avail of the Mechanism.
The policy on Vigil Mechanism and Whistle Blower Policy has been posted on the website
of the Company https://www.spectrum-india.com/#/announcement/ PDF1740743758987.pdf
12. RELATED PARTY TRANSACTIONS:
All related party transactions that were entered into during the Financial Year ended
on 31st March, 2025 were on an arm's length basis and were in the ordinary course of
business. However, the details of Related Party Transactions, are given in the Form AOC-2
is attached herewith Annexure II.
The disclosure of transaction with Related Parties is given in the notes to financial
statements.
13. DEPOSITS FROM PUBLIC:
The Company has not accepted any deposits from public and as such, no amount on account
of principal or interest on deposits from public was outstanding as on the date of the
balance sheet.
14. DETAILS OF SUBSIDIARY, JOINT VENTURE, OR ASSOCIATE COMPANIES:
Your Company has Four (4) Direct Subsidiaries as on March 31, 2025 your Company.
Wholly Owned Subsidiaries -i. Spectrum Electrical Technologies Private Limited
(Formerly known as Spectrum Electrical Life Solutions Private Limited) ii. Spectrum
Health-Tech Private Limited (Formerly known as Spectrum Mass-Tech Private Limited
Subsidiaries -i. Mechmaster Engineering Private Limited ii. Pristine IT Code
Private Limited
Material Subsidiary -
During financial year 2024-25, the company does not have material subsidiary company.
Investment -i. During the financial year 2024-25, the Company had acquired 464100
equity shares of face value of Rs.10/- each of Mechmaster Engineering Private Limited. ii.
During the financial year 2024-25, the Company had acquired 7500 equity shares of face
value of Rs.10/- each of Pristine IT Code Private Limited. Your Company does not have any
joint ventures or associate Companies as defined under Companies Act, 2013.
The salient features of the financial statements of subsidiary companies in form AOC-1
has been annexed as Annexure I to the Directors Report.
15. AUDITORS: i. Statutory Auditor –
Members at their 16th AGM held on 30th September, 2024 had approved the re-appointment
of M/s. SHARPAARTH & CO LLP, (Formerly known as M/s. SHARPAARTH & CO.), Chartered
Accountants as statutory auditors for the second and final term of five consecutive years,
to hold office from the conclusion of 16th AGM till the conclusion of the 21st AGM to be
held in the year 2029. M/s. SHARPAARTH & CO LLP will continue to act as Statutory
Auditor of the Company.
The Report given by SHARPAARTH & CO LLP, (Formerly known as M/s. SHARPAARTH &
CO.) on the financial statement of the Company for the year 2024 - 25 is part of the
Annual Report. The Notes on the financial statements referred to in the Auditor's Report
are self-explanatory and do not call for any further comments.
The Statutory Auditor's Report for FY 2024-25 does not contain any qualifications,
reservations, adverse remarks or disclaimers. The Statutory Auditors of the Company have
not reported any fraud to the Audit Committee or to the Board of Directors under Section
143(12) of the Companies Act, 2013 read with Rule 13 of the Companies (Audit and Auditors)
Rules, 2014
ii. Cost Auditor –
Pursuant to the Section 148 of the Companies Act, 2013 read with the Companies (Cost
Records and Audit) Amendment Rules, 2014, the Company is required to prepare and maintain
cost records and have the cost records audited by a Cost Accountant and accordingly as per
the recommendation of the Audit Committee, the Board of Directors has appointed M/s. Kolhe
& Associates, Cost Accountants (FRN 003278) to audit the cost accounts of the Company
for the financial year 2025-2026 under Section 148 and all other applicable provisions of
the Act, on 30th May, 2025. The auditor has confirmed that he is free from
disqualification specified under Section 141(3) and proviso to Section 148(3) read with
Section 141(4) of the Act and that the appointment meets the requirements of Section
141(3)(g) of the Act. He has further confirmed his independent status and an arm's length
relationship with the Company. The remuneration payable to the cost auditor is required to
be placed before the Members in a general meeting for their ratification. Accordingly, a
resolution seeking Member's ratification for the remuneration payable to M/s Kolhe &
Associates, Cost Accountants is included in the Notice convening the Annual General
Meeting.
The Company has maintained cost records in accordance with the provisions of the
Companies Act, 2013 read with the Companies (Cost Records and Audit) Amendment Rules, 2014
in respect of electrical components/products.
iii. Secretarial Auditor –
The Board of Directors of the Company based on the recommendation of Audit Committee,
propose to appoint Ms. Yuti Nagarkar, Practicing Company Secretary, Proprietor ship firm
(Peer Review Registration No. 1344/2021) as the Secretarial Auditors of the Company, to
undertake secretarial audit of the Company for a period of five consecutive years
commencing from Financial Year 2025-26 to FY 2029-2030.
The Company has received a written consent, eligibility letter and other necessary
declarations and confirmations from Ms. Yuti Nagarkar, Practicing Company Secretary,
stating that she satisfy the criteria provided under Section 204 of the Companies Act,
2013 read with Regulation 24A of Securities and Exchange Board of India (Listing
Obligations and Disclosure Requirements) Regulations 2015 and that the appointment, if
made, shall be in accordance with the applicable provisions of the Act and rules framed
thereunder. If approved by the Members, the appointment of Ms. Yuti Nagarkar, Practicing
Company Secretary, Practicing Company Secretary as the Secretarial Auditors will be for a
period of five consecutive years commencing from Financial Year 2025-26 to FY 2029-2030.
iv. Internal Auditor -
The Board of Directors of the Company based on the recommendation of Audit Committee,
has appointed M/s. Sonawane MOR & Company, Practicing Chartered Accountants, (Firm
Registration No. – 145576W) as the Internal Auditors of the Company for the financial
year 2025-26.
The Company has received a written consent and eligibility letter from M/s. Sonawane
MOR & Company, stating that they satisfy the criteria provided under Section 138 of
the Companies Act, 2013 read with the other applicable provisions of the Act and rules
framed thereunder.
16. STATUTORY AUDITORS REPORTS:
The Auditors Report on the Audited Financial Statements (Standalone and Consolidated)
of the Company for the year ended March 31, 2025 does not contain any qualification,
reservation or adverse remark so need not require any explanation or comment.
17. SECRETARIAL AUDITORS REPORTS
Pursuant to the provisions of Section 204 of the Companies Act, 2013 and Regulation 24A
of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board
had appointed Ms. Yuti Nagarkar, Practicing Company Secretary, a Proprietorship firm, to
conduct Secretarial Audit for the financial year 2024-2025. The Secretarial Audit Report
for the financial year ended March 31, 2025 is annexed herewith as Annexure IV. The
Secretarial Audit Report does not contain any qualification, reservation or adverse
remark.
Board response on Auditor's qualification, reservation or adverse remark -
The Directors hereby confirm that there are no qualifications, reservations or adverse
remark made by the statutory auditors of the Company or in the secretarial audit report by
the practicing company secretary and secretarial compliance report for the year ended
March 31, 2025.
Reporting of Frauds by Auditors -
During the period under review, neither the statutory auditor nor the secretarial
auditor have reported to the Audit Committee, under Section 143 (12) of the Companies Act,
2013, any instances of fraud committed against the Company by its officers or employees.
18. DIRECTOR'S RESPONSIBILITY STATEMENT:
Pursuant to clause (c) of sub-section (3) of Section 134 of the Companies Act, 2013,
the Directors confirm that: -i. in the preparation of the annual accounts for the
financial year 2024-25, the applicable accounting standards have been followed and there
are no material departures; ii. the Directors had 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 of the Company for the financial year; iii. the
Directors had taken proper and sufficient care to the best of their knowledge and ability
for the maintenance of adequate accounting records in accordance with the provisions of
the Act. They confirm that there are adequate systems and controls for safeguarding the
assets of the Company and for preventing and detecting fraud and other irregularities; iv.
the Directors had prepared the annual accounts on a going concern basis; v. they have laid
down internal financial controls to be followed by the Company and that such internal
financial controls are adequate and operating properly; and vi. the Directors had devised
proper systems to ensure compliance with the provisions of all applicable laws and that
such systems were adequate and operating effectively.
19. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING &
OUTGO:
The information pertaining to conservation of energy, technology absorption, foreign
exchange Earnings and outgo as required under Section 134(3)(m) of the Companies Act, 2013
read with Rule 8(3) of the Companies (Accounts) Rules, 2014. Details of Conservation of
energy are given in the Annexure V
20. INDEPENDENT DIRECTOR DATABANK REGISTRATION:
Pursuant to a notification dated October 22, 2019 issued by the Ministry of Corporate
Affairs, all directors have completed the registration with the Independent Directors
Databank. Requisite disclosures have been received from the directors in this regard. Your
Company has received annual declarations from all the Independent Directors of the Company
confirming that they have already registered their names with the data bank maintained by
the Indian Institute of Corporate Affairs ["IICA"] as prescribed by the Ministry
of Corporate Affairs under the relevant rules.
Further, the respective independent directors have ensured that they will take self -
assessment test applicable to them in due course of time.
21. RISK MANAGEMENT :
The Board of Directors had constituted a Risk Management Committee to identify elements
of risk in different areas of operations and to develop a policy for actions associated to
mitigate the risks. The Committee on a timely basis informed the members of the Board of
Directors about risk assessment and minimisation procedures and in the opinion of the
Committee there was no risk that may threaten the existence of the Company. The details of
the Risk Management Committee are included in the Corporate Governance Report.
22. ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO FINANCIAL STATEMENTS:
The Company maintains a system of Internal Control including suitable monitoring
procedures. The Internal Control System is supplemented by an exhaustive program of
internal audits and said audits are then reviewed by Audit Committee from time to time.
The Board of Directors has laid down internal financial controls to be followed by the
Company and the policies and procedures to be adopted by the Company for ensuring the
orderly and efficient conduct of its business, including adherence to the Company's
policies, the safeguarding of its assets, the prevention and detection of frauds and
errors, the accuracy and completeness of the accounting records, and the timely
preparation of reliable financial information. The Audit Committee evaluates the internal
financial control systems periodically.
23. DIRECTORS AND KEY MANAGERIAL PERSONNEL (KMP): Composition of Board of Directors -
The Board consists of Executive Chairman, three Executive Director, including Executive
Chairman, Five Non-Executive Independent Directors not liable to retire by rotation. All
Independent Directors have given their declarations that they meet the criteria of
independence as laid down under section 149(6) of the Companies Act, 2013 and Regulations
16 of the SEBI (LODR) Regulations, 2015.
Retire by rotation -
Pursuant to section 152 of the Companies Act, 2013 Mr. Deepak Suresh Chaudhari (DIN:
00538753), Director retires by rotation at the ensuing Annual General Meeting and being
eligible offers himself for re-appointment.
Appointment of Non-Executive Independent Director -
Pursuant to the provisions of the Companies Act, 2013 and rules and regulations framed
thereunder and SEBI Listing Regulations, the Company has appointed Mrs. Priya Rathi (DIN:
10940833) as a Non-Executive Independent Director for a period of five years with effect
from 11th February, 2025.
Key Managerial Personnel (KMP) -
Pursuant to the provisions of Section 203 of the Companies Act, 2013, the Key
Managerial Personnel of the Company are Mr. Deepak Suresh Chaudhari, Managing Director,
Mr. Devendra Sudhakar Rane, Director, Mrs. Bharti Deepak Chaudhari, Whole Time Director,
Mr. Pankaj Ravindra Rote, Chief Financial Officer and Mr. Rahul Vasant Lavane, Company
Secretary and Compliance Officer. There has been no change in the Key Managerial Personnel
during the year.
24. DECLARATION FROM INDEPENDENT DIRECTORS:
The Company has received declarations from all the Independent Directors of the Company
confirming that they meet the criteria of independence as prescribed under the Companies
Act, 2013 and rules made thereunder and relevant regulation of SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015.
25. DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS, COURTS, AND
TRIBUNALS:
During the period under review, no significant and material order has been passed by
the regulators, courts, tribunals impacting the going concern status and Company's
operations in future.
26. NOMINATION AND REMUNERATION COMMITTEE:
The details of Nominations and Remuneration Policy of the Company for Directors, Key
Managerial Personnel (KMP), Senior Management Personnel (SMP) and other employees along
with other related matter have been provided in the Corporate Governance Report as an Annexure
III
27. PARTICULARS OF EMPLOYEE AND RELATED DISCLOSURES:
Disclosure pertaining to remuneration and other details as required under Section
197(12) of the Act read with Rule 5(1) of the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014 is annexed to the Report as Statement containing
particulars of top 10 employees and particulars of employees as required under Section 197
(12) of the Act read with Rule 5(2) and (3) of the Companies (Appointment and Remuneration
of Managerial Personnel) Rules, 2014 is provided as a separate Annexure VI forming
part of this report. During the period review, no Employee Stock Options have been granted
to the employees of the Company and thus no disclosure is required.
28. CORPORATE SOCIAL RESPONSIBILITY:
In terms of the provisions of Section 135 of the Act read with the Companies (Corporate
Social Responsibility Policy) Rules, 2014, the Board of Directors of the Company have
constituted a Corporate Social Responsibility ("CSR") Committee. As part of its
initiatives under CSR, the Company has focused and undertaken projects in the areas of
Healthcare, Education & Vocational Skill Development.
These projects are in accordance with Schedule VII of the Companies Act, 2013. The
Report on CSR activities for the financial year 2024-2025 is annexed herewith as Annexure
VII.
The Company has in place a CSR Policy, which is available at the company's website -
https://www. spectrum-india.com
29. TRANSFER TO INVESTOR EDUCATION AND PROTECTION FUND:
During the reporting period, no funds required to be transferred to the Investor
Education and Protection Fund (IEPF).
30. HUMAN RESOURCE DEVELOPMENT:
Human resources are the most valued assets of the Company. They work individually and
collectively contributing to the achievement of the objectives of the business. The
relation between the employees and the Company remained cordial throughout the year. Our
Company believes in hiring new talents and encourages them to grow both at personal and
professional levels through regular skill and personal development training. The Company
encourages a conducive work environment and aligns personal goals with Company's growth
vision for a win-win situation. The employees are given ample recognition to keep them
motivated by way of conducting various recreational activities and reward and recognition
programmers.
31. PREVENTION OF SEXUAL HARASSMENT AT WORKPLACE:
The Company has always believed in providing a safe and harassment free workplace for
every individual working in the Company's 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
robust policy on prevention, prohibition and redressal of complaints relating to sexual
harassment at workplace which is applicable to the company as per the provisions of Sexual
Harassment of Women at Workplace (Prevention, prohibition, and Redressal) Act, 2013. The
Company has constituted an Internal Committee for providing a redressal mechanism
pertaining to sexual harassment of women employees at the workplace.
During the financial year under review, the Company has complied with all the
provisions of the POSH Act and the rules framed thereunder. Further details are as follow:
a. Number of complaints of Sexual Harassment received in the Year |
NIL |
b. Number of Complaints disposed off during the year |
NIL |
c. Number of cases pending for more than ninety days |
NIL |
32. CODE FOR PREVENTION OF INSIDER TRADING:
AsperSEBI(ProhibitionofInsiderTrading)Regulations, 2015, the Company has adopted a Code
of Conduct for Prevention of Insider Trading & Code of Corporate Disclosure Practices.
All the Directors, employees and third parties such as auditors, consultants etc. who
could have access to the unpublished price sensitive information of the Company are
governed by this code. The trading window is closed during the time of declaration of
results and occurrence of any material events as per the code. Mr. Rahul Lavane, Company
Secretary and Compliance Officer of the Company is responsible for setting forth
procedures and implementation of the code for trading in the Company's securities.
33. POLICY FOR PRESERVATION OF DOCUMENTS:
In accordance with the above Regulation 9 of Securities and Exchange Board of India
(Listing Obligations and Disclosure Requirements) Regulations, 2015, the Policy for
preservation of documents (The Policy) has been framed and adopted by the Board of
Directors of the Company in their Board Meeting to aid the employees in handling the
Documents efficiently. This Policy not only covers the various aspects on preservation of
the Documents, but also the safe disposal/destruction of the Documents.
34. MANAGEMENT DISCUSSION AND ANALYSIS:
Management Discussion and Analysis Report for the year under review, as stipulated
under Regulation 34 of the Listing Regulations is presented in a separate section forming
part of the Annual Report as
Annexure VIII.
35. CODE OF CONDUCT:
According to Regulation 17 of the SEBI (Listing
ObligationsandDisclosureRequirements)Regulations, 2015, the Code of Conduct of the Company
has been approved and adopted by the Board of Directors of the Company. All Board members
and senior management personnel have afirmed the compliance with the code. A declaration
to this effect, duly signed by the Managing Director, forms part of this Report as
Annexure IX.
36. UTILIZATION OF FUNDS RAISED BY WAY OF PREFERENTIAL ISSUE DURING THE PREVIOUS YEAR
2023-24:
The details of utilization of funds are as follows - Amount in Lakhs
Sr. No. Main Objects |
Amount Allocated to the objects |
Fund Utilized till the 31.03.2025 |
Pending Utilization as on 31.03.2025 |
1 Capital Expenditure |
1,375.00 |
479.69 |
895.31 |
2 Working Capital Requirements |
2,214.00 |
2,214.00 |
Nil |
3 General Corporate Purpose |
50.00 |
50.00 |
Nil |
4 Issue Expenses |
15.59 |
15.59 |
Nil |
Total |
3,654.59 |
2,759.28 |
895.31 |
37. CORPORATE GOVERNANCE:
The Company is committed to maintain the highest standards of corporate governance and
adhere to the corporate governance requirement and set out by SEBI. The report on
corporate governance as required under the Securities and Exchange Board of India (Listing
Obligations & Disclosure Requirements) Regulation, 2015, forms an integral part of
this report as an Annexure III. The requisite certificate from Ms. Yuti Nagarkar,
Practicing Company Secretary confirming the compliance with the conditions of corporate
governance is attached to the report on Annual Report as an Annexure III A and Annexure
III B.
38. APPLICABILITY BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT
The Company has successfully migrated from the SME Platform of NSE to the Main Board of
both NSE and BSE with effect from March 28, 2025. Consequent to this migration, the
provisions relating to Business Responsibility and Sustainability Reporting (BRSR), as
prescribed under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015,
shall be applicable to the Company from the financial year 2025–26 onwards. The
Company has initiated necessary steps to strengthen its systems and processes to ensure
timely and effective compliance with the said requirements.
39. UNSECURED LOAN:
Pursuant to Rule 2(c)(viii) of Companies (Acceptance of Deposits) Rule 2014 the company
has accepted unsecured loan form Directors the details of which are given below:
Name of Director |
Opening Balance |
Accepted During the year |
Repaid During Year |
Unsecured Loan as on 31.03.2025 |
Mr. Deepak Suresh Chaudhari |
0.00 |
661.40 |
282.60 |
378.80 |
Mrs. Bharti Deepak Chaudhari |
0.00 |
25.39 |
0.00 |
25.39 |
Total |
0.00 |
686.79 |
282.60 |
404.19 |
40. PERFORMANCE EVALUATION OF THE BOARD:
Pursuant to the provisions of the Companies Act, 2013 and Rules made thereunder, the
Board has carried the evaluation of its own performance, performance of Individual
Directors, Board Committees, including the Chairman of the Board on the basis of
attendance, contribution and various criteria as recommended by the Nomination and
Remuneration Committee of the Company. The evaluation of the working of the Board, its
committee, experience and expertise, performance of specific duties and obligations etc.
The Directors expressed their satisfaction with the evaluation process and outcome.
The performance of each of the non-independent directors was also evaluated by the
independent directors at the separate meeting held by the Independent Directors of the
Company.
41. COMPLIANCE WITH APPPLICABLE SECRETARIAL STANDARDS:
During Financial Year 2024-25, the Company has complied with the relevant appliable
provisions of Secretarial Standards issued by the Institute of Company Secretaries of
India.
42. OTHER DISCLOSURES: Credit Rating:
CRISIL has given the credit rating of CRISIL BBB/ Positive (Assigned) for the Company's
long term bank credit facilities and CRISIL A3+ for short term facilities.
Disclosure of Pending Cases/Instances of Non- Compliance:
There were no non-compliances by the Company and no instances of penalties and
strictures imposed on the Company by the Stock Exchanges or SEBI or any other statutory
authority on any matter related to the capital market during the last years.
Means of Communication:
In accordance with Regulation 46 of the SEBI Listing Regulations, the company has
maintained a functional website at www.spectrum-india.com containing information about the
Company viz., details of its business, financial information, shareholding pattern,
details of the policies approved by the Board, contact information of the designated
offcials of the Company who are responsible for assisting and handling investor grievances
etc. The contents of the said website are updated from time to time.
Further, the Company disseminates to the Stock Exchanges (i.e. NSE & BSE), wherein
its equity shares are listed, all mandatory information and price sensitive/such other
information, which in its opinion, are material and/or have a bearing on its
performance/operations and issues press releases, wherever necessary, for the information
of the public at large.
43. MATERNITY BENEFIT:
The Company afirms that it has duly complied with all provisions of the Maternity
Benefit Act, 1961, and has extended all statutory benefits to eligible women employees
during the year
44. ACKNOWLEDGEMENT:
The Directors wish to place on record appreciation and gratitude for all the
co-operation extended by various Government Agencies/Departments, Bankers, Consultants,
Business Associates, and Shareholders, Vendors, Customers etc. The Directors also record
appreciation for the dedicated services rendered by all the Executives, Staff &
Workers of the Company at all levels, for their valuable contribution in the working of
the Company.
| For and on behalf of Board of Directors of |
| FOR SPECTRUM ELECTRICAL INDUSTRIES LIMITED |
| Sd/- |
Sd/- |
DEEPAK CHAUDHARI |
BHARTI CHAUDHARI |
| CHAIRMAN & MANAGING |
WHOLE TIME DIRECTOR |
| DIRECTOR |
|
|
DIN: 02759526 |
| DIN: 00538753 |
|
| Date: 07/09/2025 |
| Place: Jalgaon |
|