To,
The Members,
Your Directors are having immense pleasure in presenting the Forty
Second Annual Report on the business and operations of the Company together with the
Audited Statement of Accounts for the Financial Year ended 31st March, 2023 and the report
of the Auditors thereon.
1. Financial summary
Particulars |
Year Ended 31.03.2023 |
Year Ended 31.03.2022 |
Year Ended 31.03.2023 |
Year Ended 31.03.2022 |
|
(Standalone) |
(Consolidated) |
Revenue from Operations |
33681.72 |
46,060.54 |
35272.45 |
49,109.51 |
Other Income |
1096.24 |
1,192.31 |
1154.09 |
1,328.79 |
Total Income |
34777.96 |
47,252.85 |
36426.54 |
50,438.3 |
Profit before Taxation |
1297.63 |
2,071.70 |
1076.10 |
1,934.71 |
Current Tax |
100.26 |
555.50 |
103.82 |
559.25 |
Tax relating to earlier years |
3.48 |
(11.33) |
3.82 |
(6.42) |
Deferred Tax Credit/(Charge) |
298.31 |
28.28 |
298.56 |
26.57 |
Profit After Tax(PAT) |
895.58 |
1,499.25 |
669.89 |
1355.31 |
Total Other Comprehensive Income/Loss net of tax |
62.74 |
(93.04) |
123.68 |
(67.22) |
Total Other Comprehensive Income for the year net of tax |
958.32 |
1,406.21 |
793.57 |
1,288.09 |
2. Summary of Operations & State of Company's Affairs
On a consolidated basis, the Company's total revenue for FY 2023
was Rs. 35272.45 Lakhs as compared to the previous year revenue of Rs. 49109.51 Lakhs. The
profit after tax (PAT) attributable to shareholders and non-controlling interests for FY
2023 and FY 2022 was Rs. 793.57Lakhs and Rs. 1288.09Lakhs, respectively.
On a Standalone basis, the Company's total revenue for FY 2023 was
Rs. 33681.72 Lakhs as compared to the previous year revenue of Rs. 46060.54 Lakhs. The
profit after tax (PAT) attributable to shareholders and non-controlling interests for FY
2023 and FY 2022 was Rs. 958.32 Lakhs and Rs. 1406.21 Lakhs, respectively.
The standalone and consolidated financial statements of the Company for
the financial year ended March 31, 2023, have been prepared in accordance with the Indian
Accounting Standards (Ind AS) as notified by the Ministry of Corporate Affairs and as
amended from time to time.
3. Share Capital
As on 31st March, 2023 the authorized capital of the Company is Rs.
15,00,00,000/- (Rupees _fteen crores only) divided into 1,50,00,000 (one crores _fty
lakhs) equity shares of Rs. 10/-each .
The Company during the year issued 19,29,800 partly paid-up equity
shares on rights issue basis to all the existing shareholders of the company in the ratio
of 6:1 pursuant to the offer letter dated 25th August, 2022 at an issue price of Rs. 225/-
per equity share.
During the year the company collected an amount of Rs. 56.25/- on
application (i.e., 25% of issue price) and subsequently, in the month of January 2023 the
Company collected an amount of Rs. 112.5/- on 1st Call (i.e., 50% of the issue price) per
equity share.
The paid-up capital of the Company as on 31st March 2023 stands at Rs.
12,95,97,695/-divided into 1,15,78,800 fully paid up equity shares(Rs. 10/- per share),
17,97,039 partly paid up shares(Rs. 7.5/- per share paid-up) and 1,32,761 Partly paid up
shares (Rs. 2.5/- per share paid up)
4. Dividend
The Company has voluntarily formulated a Dividend Distribution Policy
which has been duly approved by the Board of Directors. A copy of the Dividend
Distribution Policy is available on the Company's website: www.coastalcorp.co.in The
policy sets out the parameters and circumstances that will be taken into account by the
Board in determining the distribution of dividend to its shareholders.
The Board of Directors of the Company at their meeting held on the 30th
day of May, 2023 recommended a Dividend of Rs. 1.35/-i.e.,13.5% on the nominal value of
Equity Share of Rs. 10/- each which shall be declared subject to the shareholders approval
at this Annual General Meeting. The dividend will be paid to all the eligible shareholders
as on the book closure dates. As per the amended Income Tax Act, 1961, no dividend
distribution tax was payable by the Company. Hence the dividend was taxable in the hands
of the shareholders subject to tax deduction at source at the applicable rates. The
dividend recommended is in accordance with the principles and criteria as set out in the
dividend distribution policy was taxable in the hands of the shareholders subject to tax
deduction at source at the applicable rates.
The dividend recommended is in accordance with the principles and
criteria as set out in the dividend distribution policy.
5. Amount to be carried to reserves
The Company has not transferred any amount to the reserves during the
current financial year.
6. Employee stock option plans (ESOP)
Your Company believes that its success and ability to achieve
objectives is largely determined by the quality of its workforce and recognizes that not
only good employment opportunities but also additional motivating mechanisms are needed to
incentivize employees and aligning their interest with the interest of the Company. In
recognition of the said objective, the Company adopted and implemented CCL ESOP Scheme
2021 ("CCL Scheme 2021"). to attract, retain, motivate and
incentivize employees of the Company and its subsidiaries. The ESOP Plan of the Company
are implemented and administered by the Nomination & Remuneration Committee. There
were no Options granted or vested or any shares issued on vesting during the year.
7. Awards and recognitions
Your Company is consistently working towards its goal. The company was
selected for Federation of Indian Export Organization (FIEO) Southern Region Export
Excellence Awards SILVER under the category of Best performing Exporter in Andhra
Pradesh for the year 2019-20.
8. Subsidiaries/Associates and joint ventures
The Company has the following three wholly owned subsidiaries:
I) Continental Fisheries India Limited II) Seacrest Seafoods Inc.
III) Coastal Biotech Private Limited
There has been no material change in the nature of the business of the
subsidiaries. There are no associates or joint venture companies within the meaning of
Section 2(6) of the Companies Act, 2013 ("Act").
Pursuant to Section 129(3) of the Companies Act, 2013, a separate
statement containing salient features of the financial statement of both the subsidiaries
of the Company is annexed in the format of AOC-1 as Annexure - 1 to the Financial
Statements of the Company.
The accounts of the above subsidiaries have been considered in the
consolidated financial results of the Company. The Annual Audited Financial Statements of
each of the subsidiary companies are placed on the Company's website.
9. Particulars of contracts or arrangements made with related parties
Your Company has historically adopted the practice of undertaking
related party transactions only in the ordinary and normal course of business and at
arm's length as part of its philosophy of adhering to highest ethical standards,
transparency and accountability. In line with the provisions of the Companies Act, 2013
and the Listing Regulations, the Board has approved a policy on related party
transactions. An abridged policy on related party transactions has been placed on the
Company's website at www.coastalcorp.co.in .
All related party transactions are placed on a quarterly basis before
the Audit Committee and before the Board for approval. Prior omnibus approval of the Audit
Committee and the Board is obtained for the transactions which are foreseeable and of a
repetitive nature.
Pursuant to Regulation 23(9) of the Listing Regulations, your Company
has filed the reports on related party transactions with the Stock Exchanges.
Particulars of contracts or arrangements with related parties referred
to in Section 188(1) of the Companies Act, 2013, in the prescribed Form AOC-2, is appended
as Annexure - 2 to this report.
These have been discussed in detail in the Notes to the Standalone
Financial Statements in this Annual Report.
10. Deposits
The Company has not accepted any deposit from the public falling within
the ambit of Section 73 of the Companies Act, 2013 and the Companies (Acceptance of
Deposits) Rules, 2014.
11. Statutory auditors & auditor's report
At the 38th Annual General Meeting held on August 31, 2019, the Members
approved the appointment of M/s. Bramhmayya & Co., Chartered Accountants,
Visakhapatnam (Registration No.000513S) to hold office from the conclusion of the 38th
Annual General Meeting until the conclusion of the 43rd Annual General Meeting of the
Company to be held in the year 2024. The Statutory Auditors were present in the last AGM.
There are no qualifications, reservations or adverse remarks or disclaimers made by the
Statutory Auditors in their report on the Financial Statements of the Company for the
Financial Year ended March 31, 2023.
12. Secretarial auditors
Pursuant to the provisions of Section 204 of the Companies Act, 2013
and The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014,the
Company has appointed Mr. A.V.V.S.S.Ch.B. Sekhar Babu, Practicing Company Secretary,
Visakhapatnam to undertake the Secretarial Audit of the Company for the year 2022-23. The
Secretarial Audit Report is annexed herewith as Annexure - 3 to this report. The
same does not contain any adverse remarks. The Company has appointed M/s. A.V.V.S.S.Ch.B.
Sekhar Babu, Practicing Company Secretary, Visakhapatnam as the Secretarial Auditor for
the Financial Year 2023-24.
13. Internal auditors
The Board of Directors based on the recommendations of the Audit
Committee have appointed M/s. Jaya & Lakshmi, Chartered Accountants, Visakhapatnam for
the financial year 2023-24. who has to act in an independent manner and also responsible
for regulatory and legal requirements relating to operational processes and internal
systems. They report directly to the Board of Directors.
14. Credit & guarantee facilities
The Company has been availing Packing Credit limits and Term Loan and
other facilities from Bank of India and HDFC Bank Visakhapatnam.
15. Particulars regarding energy conservation, technology absorption
and foreign exchange earnings and outgo
The information on conservation of energy, technology absorption and
foreign exchange earnings and outgo stipulated under Section 134(3)(m) of the Companies
Act, 2013 read with Rule 8 of The Companies (Accounts) Rules, 2014, is annexed herewith as
Annexure - 4 to this report.
16. Management discussion analysis
Pursuant to the provisions of Regulation 34(2) of SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015 a report on Management
Discussion & Analysis is herewith annexed as Annexure - 5 to this report.
17. Corporate governance
As per Regulation 34 of the Listing Regulations, a separate section on
corporate governance practices followed by your Company, together with a certificate from
Practicing Company Secretary, on compliance with corporate governance norms under the
Listing Regulations, forms part of this Annual Report as Annexure 6, 7 & 8.
18. Corporate social responsibility (CSR)
Your Company CSR initiatives and activities are aligned to the
requirements of Section 135 of the Act. 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 in the format prescribed in the Companies (CSR Policy)
Amendment Rules, 2021 are set out in Annexure - 9 of this Report. The policy is
available on Company's website at www.coastalcorp.co.in. For other details regarding
the CSR Committee, please refer to the Corporate Governance Report, which is a part of
this report
19. Annual return
As per the provisions of section 92(3) of the Companies Act, 2013, the
Annual Return of the Company for the Financial Year 2022-23 is available on our website
www.coastalcorp.co.in.
20. Changes in directors and key managerial personnel
The below mentioned Directors were appointed/re-appointed in terms of
applicable provisions of Companies Act, 2013 and SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 at the 41stAnnual General Meeting which was held on
September 30th, 2022: (i) Mrs. Jeeja Valsaraj who was liable to retire by rotation
was re-appointed.
(ii) Mr. GVV Satyanarayana was appointed as Whole Time Director
designated as Director - Finance.
Appointments/Re-appointments at this Annual General Meeting
In accordance with the provisions of Section 152 of the Companies Act,
2013, Mrs. Jeeja Valsaraj, Director of the Company retires by rotation and being eligible,
has offered herself for re appointment.
As per the requirements of Regulation 36(3) of SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015 (as amended) and Clause 1.2.5
of the Secretarial Standard 2 (Revised) as issued by the Institute of Company Secretaries
of India, a statement containing the requisite details of re-appointments is given below:
(i) Mrs. Jeeja Valsaraj (01064411):
Particulars |
Details |
Name |
Ms. Jeeja Valsaraj |
Date of Birth |
01-02-1964 |
Age |
59 yrs |
Relationships with Directors inter-se |
She is the wife of the Managing Director,
Mr. Valsaraj Thottoli |
Profile |
Mrs. Jeeja Valsaraj, aged 59 years is the
Non-Executive Director of our |
|
Company. She is the wife of the Managing
Director, Mr. Valsaraj Thottoli. |
|
She has completed her post graduate diploma
in Management and |
|
Fashion Technology. She is associated with
our Company for 18 years. |
|
She has interest and experience in the
varied areas of Administration, |
|
Social responsibility service, Fashion
Technology, etc. She was appointed |
|
as an additional Non Executive Director on
October 01, 2004 and |
|
regularized as Non Executive Director in
Annual General Meeting held |
|
on September 30, 2005. |
Qualification |
Post Graduate in Management & Fashion
Technology |
Experience & Expertise in specific function area |
19 years |
Remuneration last drawn by such person |
Kindly refer to the Corporate Governance
Report. |
Membership/Chairmanship of committees of the |
She is the Member of Audit Committee,
Stakeholders Relationship |
Board of Directors of the Company |
Committee, Corporate Social Responsibility
Committee and Nomination |
|
& Remuneration Committee of the Company. |
|
She is the chairperson of Corporate Social
Responsibility Committee and |
|
Stakeholders Relationship Committee |
Other Directorships and Membership of other Boards |
NIL |
Shareholding |
3,74,200 Fully Paid Up Equity Share |
|
62,366 Partly Paid Up Equity Shares |
Pecuniary relationship directly or indirectly with the |
Mrs Jeeja Valsaraj is not
directly/indirectly related to any other Director |
Company, or relationship with the Managerial Person- |
and/or Key Managerial Personnel of the
Company except with Mr. |
nel, if any |
T.Valsaraj. |
ii) Mr. Kalyanaraman P.R (DIN:01993027)
Name |
Kalyanaraman P.R |
Date of Birth |
30-03-1948 |
Age |
75 Years |
Relationships with Directors inter-se |
No Relationship with any of the other
Directors |
Profile |
Mr. Kalyanaraman P.R, aged 75 years is a
Non-Executive |
|
Independent Director of our Company. His
present tenure as |
|
an Independent Director commenced on 11th
September 2018 |
|
and is until 10th September, 2023. |
|
He served as the Executive Director a
Board position in |
|
Federal Bank, the largest private sector
bank in Southern India. |
|
He commenced his working career as a
marketing professional; |
|
marketing has been a key driver. |
|
He was a guest faculty member at Bank's
Staff Training College, |
|
Indian Institute Of Banking and Finance,
National Institute of |
|
Bank Management to name a few. |
Qualification |
Science Graduate in Chemistry, He is
Professionally qualified |
|
with C.A.I.I.B. and Banking Management
Program from IIM |
|
Ahmedabad. |
Experience & Expertise in specific function area |
Mr. Kalyanaraman P.R was a well-rounded
commercial banker, |
|
having an impeccable career record spanning
over 50 years in |
|
financial services. He held
successfulassignments across public |
|
and private sector banks, across geographies
and functions |
|
both in business and in operational
areas across retail and |
|
corporate businesses both in field and
at macro levels. |
Remuneration last drawn by such person |
Kindly refer to the Corporate Governance
Report. |
Membership/Chairmanship of committees of the Board of |
He is the Chairman of Audit Committee of the
Company. He is |
Directors of the Company |
also a member in Nomination &
Remuneration Committee and |
|
Corporate Social Responsibility Committee of
the Company. |
Other Directorships and Membership of other Boards |
Chemm Finance Ltd |
|
Kogta Financial (India) Limited |
|
Ramaiah Capital Private Limited |
Shareholding |
NIL |
Pecuniary relationship directly or indirectly with the
Company, |
Mr. Kalyanaraman P.R is not
directly/indirectly related to |
or relationship with the Managerial Personnel, if any |
any other Director and/or Key Managerial
Personnel of the |
|
Company. |
iii) Mr. T. Valsaraj(DIN:00057558)
(seeking approval only for continuation of appointment as the director
would be attaining the age of 70 years on 31-07-2024)
Name |
T. Valsaraj |
Date of Birth |
31-07-1954 |
Age |
69 years |
Relationships with Directors inter-se |
He is the husband of Non-Executive Director,
Mrs. Jeeja Valsaraj. |
Qualification |
Bachelors Degree of Technology (in Chemical
Engineering) |
Profile |
He is the promoter of the Company. He has
experience in |
|
export business of marine products and other
merchandise. |
|
He is responsible for strategic business
planning, growth and |
|
management of the Company. He looks after
overall management |
|
and operations of the Company and is
instrumental in preparing |
|
the growth strategies for the Company.
Presently, he is the Vice |
|
Chairman and Managing Director of the
Company and his current |
|
tenure is commenced from 29th September,
2020. |
Experience & Expertise in specific function area |
He has a vast experience of over 4 decades.
His areas of |
|
expertise are overall developing &growth
of the organization in |
|
all aspects including strategic business
planning and analysis of |
|
future competition and threats at global
level |
Remuneration last drawn by such person |
Kindly refer to the Corporate Governance
Report. |
Membership/Chairmanship of committees of the Board of |
NIL |
Directors of the Company |
|
Other Directorships and Membership of other Boards |
Coastal Biotech Private Limited |
|
Continental Fisheries India Limited |
Remuneration Proposed |
There are no changes in the terms of
remuneration pursuant to the |
|
present appointment. The old remuneration
shall continue to be |
|
paid for the remaining tenure of his
appointment. The resolution at |
|
this meeting is being proposed as he would
be attaining the age |
|
of 70 years on 31st July 2024. |
Shareholding |
12,99,152 Fully Paid Up Equity Shares |
|
3,00,000 Partly Paid Up Equity Shares |
Pecuniary relationship directly or indirectly with the
Company, |
Mr. T. Valsaraj is not directly/indirectly
related to any other |
or relationship with the Managerial Personnel, if any |
Director and/or Key Managerial Personnel of
the Company |
|
except with Mrs Jeeja Valsaraj. |
Key Managerial Personnel
In terms of Section 203 of the Act, the Key Managerial Personnel (KMPs)
of the Company during FY 2022-23 are: Mr. Valsaraj Thottoli, Vice-Chairman and
Managing Director Mr. G.V.V. Satyanarayana, Chief Financial Officer, Whole time
Director designated as Director-Finance Ms. Swaroopa Meruva, Company Secretary
There was no resignation and removal of any Key Managerial Personnel
during the year.
A brief profile of the directors of the company is annexed herewith as Annexure
- 10 to this report.
21. Particulars of employees as per section 197(12) under rule 5(2) of
the companies (appointment and remuneration of managerial personnel) rules, 2014
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 Annexure-12
Statement containing particulars of top 10 employees and the employees drawing
remuneration in excess of limits prescribed 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 in the Annexure forming part of this report.
22. Directors' responsibility statement as required under section
134 (3) (c) of the companies act, 2013
Pursuant to Section 134 (5) of the Companies Act, 2013, your Directors
confirm that to the best of their knowledge and ability confirm that:
(a) In the preparation of the annual accounts, the applicable
accounting standards have been followed along with proper explanation relating to material
departures; (b) 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
financial year and of the profit and loss of the company for that period; (c) They
have taken proper and sufficient care towards the maintenance of adequate accounting
records in accordance with the provisions of the Companies Act, 2013 for safeguarding the
assets of the company and for preventing and detecting fraud and other irregularities; (d)
They have prepared the annual accounts for the financial year 2022-23 on a going concern
basis; (e) They have laid down internal financial controls to be followed by the
Company and such internal financial controls are adequate and are operating effectively;
and (f) They have devised proper systems to ensure compliance with the provisions
of all applicable laws and that such systems were adequate and operating effectively.
Based on the framework of internal financial controls and compliance
systems established and maintained by the Company, the work performed by the internal,
statutory and secretarial auditors and external consultants, including the audit of
internal financial controls over financial reporting by the statutory auditors and the
reviews performed by management and the relevant board committees, including the audit
committee, the Board is of the opinion that the Company's internal financial controls
were adequate and effective during FY 2023
23. Significant and material orders passed by the regulators/courts or
tribunals
There are no significant material orders passed by the Regulators or
Courts or Tribunal, which would impact the going concern status of the Company and its
future operation.
24. Change in the nature of business, material changes and commitment:
During the year under review, there is no change in nature of the
business of the Company. There were no material changes and commitments affecting the
financial position of the Company that have occurred between the end of the financial year
to which the financial statements relate and the date of this report unless otherwise
stated in the report.
25. Vigil mechanism / whistle blower policy
The Company has adopted a whistle blower mechanism to report concerns
about unethical behavior, actual or suspected fraud, or violation of the Company's
Code of Conduct and Ethics. The policy is posted on the website of the Company
www.coastalcorp. co.in.
26. Risk management
The Board oversees Company's processes for determining risk
tolerance and review management's action and comparison of overall risk tolerance to
established levels. The framework is designed to enable risks to be identified, assessed
and mitigated appropriately. Major risks identified by the businesses andfunctions are
systematically addressed through appropriate actions on a continuous basis.
27. Policy on directors' appointments and remuneration, including
criteria for determining qualifications, positive attributes, etc.
The Company's policy (salient features) on Directors'
remuneration and other matters provided in Section 178(3) of the Companies Act, 2013 has
been brie_y disclosed hereunder and in the Report on Corporate Governance, which is a part
of this Report.
Selection and procedure for nomination and appointment of directors
The NRC is responsible for developing competency requirements for the
Board based on the industry and strategy of the Company. The Board composition analysis
reflects in-depth understanding of the Company, including its strategies, environment,
operations, financial condition and compliance requirements.
The NRC conducts a gap analysis to refresh the Board on a periodic
basis, including each time a Director's appointment or re- appointment is required.
The NRC reviews and vets the profiles of potential candidates vis-a-vis the required
competencies, undertakes due diligence and meeting potential candidates, prior to making
recommendations of their nomination to the Board.
Criteria for determining qualifications, positive attributes and
independence of a director
In terms of the provisions of Section 178(3) of the Act, and Regulation
19 of the SEBI Listing Regulations, the NRC has formulated the criteria for determining
qualifications, positive attributes and independence of Directors, the key features of
which are as follows: Qualifications - The Board nomination process encourages
diversity of thought, experience, knowledge, age and gender. It also ensures that the
Board has an appropriate blend of functional and industry expertise.
Positive Attributes - Apart from the duties of Directors as
prescribed in the Act the Directors are expected to demonstrate high standards of ethical
behaviour, communication skills and independent judgment. The Directors are also expected
to abide by the respective Code of Conduct as applicable to them. Independence - A
Director will be considered independent if he/she meets the criteria laid down in Section
149(6) of the Act, the Rules framed thereunder and Regulation 16(1)(b) of the SEBI Listing
Regulations.
The Directors affirm that the remuneration paid to Directors, KMPs and
employees is as per the Remuneration Policy of the Company.
28. Particulars of loans, guarantees and investments pursuant to
section 186 of the companies act, 2013
Pursuant to section 186 of the companies act, 2013 and schedule V
of the listing regulations, disclosure on particulars relating to loans, advances,
guarantees and investments are provided as part of the financial statements.
29. Annual evaluation of board performance and performance of its
committees and of directors
The annual evaluation process of the Board of Directors, Individual
Directors and Committees was conducted in accordance with the provisions of the Act and
the SEBI Listing Regulations.
30. Prevention, prohibition and redressal of sexual harassment at work
place
Your Company strongly supports the rights of all its employees to work
in an environment free from all forms of harassment. The Company has also constituted an
Internal Committee, known as Anti Sexual Harassment Committee to address the concerns and
complaints of sexual harassment and to recommend appropriate action. During the year there
were no cases filed pursuant to the Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013.
31. Internal control systems & their adequacy:
The details in respect of internal financial control and their adequacy
are included in the Management Discussion and Analysis, which is a part of this report.
32. Number of meetings of the board & committee
Eleven (11) meetings of the board were held during the year. For
details of the meetings of the board, please refer to the corporate governance report,
which forms part of this report.
COMMITTEES:
The details pertaining to the composition of the Committees and its
Meetings are included in the Corporate Governance Report, which is a part of this report.
33. Acknowledgements:
Coastal Corporation Limited is grateful to the Government of India,
Securities and Exchange Board of India (SEBI), Registrar of Companies (ROC), Bombay Stock
Exchange Ltd(BSE), National Stock Exchange of India Limited(NSE), National Securities
Depository Limited(NSDL), Central Depositary Services (India) Limited (CDSL), Bankers,
Rating agencies (CRISIL), Government Authorities, Local Bodies and other agencies for
their continued co-operation, support and guidance. Coastal Corporation Limited would like
to take this opportunity to express sincere thanks to its valued clients and customers for
their continued patronage. The Directors express their deep sense of appreciation to all
the employees, whose outstanding professionalism, commitment and initiative has made the
organizations growth and success possible and continues to drive its progress. The
Directors also express their gratitude to the Bankers and Auditors of the Company. The
Directors appreciate and value the contribution made by every member of the CCL family.
|
|
On behalf of the board |
|
|
for COASTAL CORPORATION LIMITED |
|
Sd/- |
Sd/- |
|
T.Valsaraj |
G.V.V.Satyanarayana |
Place: Visakhapatnam |
Managing Director |
Director (Finance) |
Date: 12.08.2023 |
(DIN:00057558) |
(DIN: 00187006) |