Your directors have great delight in presenting the 36th Annual Report
along with Company's Audited Financial Statement for the financial year ended March
31, 2024.
l FINANCIAL RESULTS:
(Amount in Lacs)
Particulars |
Standalone |
Consolidated |
|
2023-24 |
2022-2023 |
2023-24 |
2022-2023 |
a) Sales & Other Income |
16184.12 |
14647.40 |
16203.43 |
14647.10 |
b) Pro tbefore interest, Depreciation &
Tax |
1459.18 |
1289.40 |
1547.28 |
1351.77 |
c) Less :- Interest and
Finance Charges |
149.65 |
132.36 |
176.45 |
164.09 |
- Depreciation |
122.04 |
10.60 |
142.04 |
127.66 |
d) Pro tbefore Tax |
1187.49 |
1045.11 |
1228.79 |
1060.02 |
e) Less :Provision for Tax Current year |
293.28 |
285.43 |
293.28 |
285.43 |
f) Less Tax |
-0.96 |
-5.11 |
-0.16 |
-3.39 |
:Deferred Provided (Written back) |
|
|
|
|
h) Pro tafter Tax |
895.17 |
764.79 |
916.45 |
771.72 |
i) Pro t brought forward from previous year |
572.53 |
457.75 |
572.53 |
457.75 |
j) Pro t available for appropriations |
1467.71 |
1222.32 |
1481.48 |
1215.02 |
k) Transferred to General Reserve |
750.00 |
650.00 |
750.00 |
650.00 |
n) Balance carried to Balance Sheet |
685.66 |
572.32 |
699.44 |
565.02 |
- OVERVIEW OF COMPANY'S FINANCIAL PERFORMANCE
The company's performance during Financial Year 2023-24 on a
standalone and consolidated basis were as follows
A. The company standalone revenue were Rs. 16184.12 Lakhs in the
financial year 2023-24 compared with Rs. 14647.40 Lakhs in the previous year (2022-23),
showing a growth of 10.49%. The Pro t before tax for the financial year 2023-24 is
Rs.1187.49 against Rs. 1045.11 Lakhs in the year 2022-23. The profit after tax of the
Company increased from Rs. 895.17 Lakhs to Rs. 764.79 Lakhs showing a growth of 17.04%.
B. The company consolidated revenue were Rs. 16203.43 Lakhs in the
financial year 2023-24 compared with Rs. 14647.10 Lakhs in the previous year (2022-23),
showing a growth of 10.63 %. The Pro t before tax for the financial year 2023-24 is
Rs.1228.79 against Rs. 1060.02 Lakhs in the year 2022-23. The profit after tax of the
Company increased from Rs. 771.72 Lakhs to Rs. 916.45 Lakhs showing a growth of 18.75%.
- CHANGE IN THE NATURE OF BUSINESS:
There was no change in the nature of the business of your Company
during the financial year.
- FUTURE OUTLOOK:
The growth outlook for the Indian economy in the near term remains
positive on account of inter-alia, the following factors:
(a) expectations that the industrial sector would remain buoyant;
(b) increase in corporate sales and pro tability;
(c) pick-up in order books and capacity utilization as per different
survey results; (d) turnaround in exports with improving global conditions;
(e) pick-up in lead services indicators for transportation,
telecommunication and construction and;
(f) revival in credit demand from the private sector.
- TRANSFER TO GENERAL RESERVES
The Company proposes to transfer Rs. 750.00 Lacs to the general
reserves out of the amount available for appropriations.
- SHARE CAPITAL:
The paid up Equity Share Capital as on 31st March, 2024 was Rs.
3,20,43,000 divided into 3204300 equity shares of Rs. 10/- each. There has been no change
in the capital structure of Company during the year under review.
l DIVIDEND:
Your Directors are pleased to recommend Dividend at the rate of Rs.
1.00 Per share (previous year Rs.1.00 per share) for the year ended 31st March, 2024
subject to approval of the members in the ensuing Annual General Meeting.
l MANAGEMENT:
DIRECTORS AND KEY MANAGERIAL PERSONNEL Change in Directors during the
Financial Year 2023-24: -
(a) Re-appointment of Director under retire by rotation during the
Financial Year 2023-24:
During the year the shareholders at the 35th AGM held on 29th
September, 2023 has approved the re-appointment of Mahendra Jain (DIN: 00256047), who was
appointed for 3 years as joint managing director in the 33rd Annual General Meeting held
on September 23, 2021 and for compliance with the section, the company was retiring him
and he was eligible for re-appointment.
As per the provisions of section 152 of the Companies Act, 2013 there
is a requirement of not less two third of the total number of directors are liable to
retire by rotation in every annual general meeting, the company has a board comprising of
executive and non-executive directors and there is no director who is eligible for the
retire by rotation. Although the Company is always ready to comply with all the rules and
regulations which are applicable to the Company and in compliance.
(b) Re-appointment of Non-Executive Independent Director during the
Financial Year 2023-24
During the year the shareholders at the 35th AGM held on 29th
September, 2023 has confirmed the re-appointment of Mr. Rajesh Jain (DIN: 01216467) as a
Non-Executive Independent Director for a second term of 5 (five) consecutive years on the
Board of the Company commencing from November 14, 2023 upto November 13, 2028 (both days
inclusive).
(c) Appointment of Non-Executive Independent Director during the
Financial Year 2023-24
During the year the shareholders at the 35th AGM held on 29th
September, 2023 has appointed Mr. Vinod Kumar Jain (DIN: 10289373) as a Non-Executive
Independent Director for a first term of 2 (two) consecutive years on the Board of the
Company commencing from August 25, 2023 to August 24, 2025 (both days inclusive).
Statement regarding opinion of the Board with regard to integrity,
expertise and experience (including the proficiency) of the independent directors
appointed during the year.
The Board of directors upon the recommendation of the Nomination and
Remuneration Committee at their meeting held on 25th August, 2023 has appointed Mr. Vinod
Kumar Jain (DIN: 10289373) as Non-Executive Additional Directors under the category of
Independent Directors and the Board is of the opinion that he carry integrity, expertise
and experience as well as they are registered with the portal of IICA at the time of
appointment and he is also passed online proficiency self-assessment test conducted by
IICA.
(d) Cessation of Non-Executive Independent Director during the
Financial Year 2023-24
During the year Mr. Niranjan Chakraborty (DIN: 00443524) ceased as a
Non-Executive-Independent Director of the company with effect from close of business hours
on 31st March, 2024, due to tenure completion of his second term as Independent Director
pursuant to Section 149 of the Companies Act, 2013.
Directors liable to retire by rotation and seeking re-appointment:
As per the provisions of section 152 of the Companies Act, 2013 there
is a requirement of not less two third of the total number of directors are liable to
retire by rotation in every annual general meeting, the company has a board comprising of
executive and non-executive directors and there is no director who is eligible for the
retire by rotation in this annual general meeting. Although the Company is always ready to
comply with all the rules and regulations which are applicable to the Company and in
compliance with the said section the company is putting Item No. 3 in the Annual General
Meeting Notice relating to the appointment of Shri Mahendra Jain (DIN: 00256047), who was
appointed for 3 years as joint managing director in the 33rd Annual General Meeting held
on September 23, 2021 and for compliance with the section, the company is retiring him and
he is eligible for re-appointment.
Executive Director seeking re-appointment
(a) The tenure of Mr. Rajendra Jain (DIN: 00256515), Executive
Director designated as the Managing Director will be completed on 31st January, 2025
therefore, the Board upon the recommendation of the Nomination and Remuneration Committee
proposes his re-appointment for a further period of Three (3) years and revision in the
remuneration w.e.f. 1st February, 2025 . He has attained the age of 70 years
therefore the re-appointment would be in confirmation as per the proviso of section
196(3)(a) of the Companies Act, 2013. Your Board of directors recommends passing special
resolution as per the Companies Act, 2013 & SEBI (LODR) Regulation, 2015 as set out in
the Item No. 4 notice of the Annual General Meeting.
(b) The tenure of Mr. Mahendra Jain (DIN: 00256047), Executive
Director designated as the Joint Managing Director will be completed on 31st January,
2025 therefore, the Board upon the recommendation of the Nomination and Remuneration
Committee proposes his re-appointment for a further period of Three (3) years and revision
in the remuneration w.e.f. 1st February, 2025 . who will be attained the age 70 years in
October, 2027 therefore the reappointment would be in confirmation as per the proviso of
section 196(3)(a) of the Companies Act, 2013. Your Board of directors recommends passing
special resolution as per the Companies Act, 2013 & SEBI (LODR) Regulation, 2015 as
set out in the Item No. 5 notice of the Annual General Meeting.
Non-Executive Director (Independent Director) seeking
appointment/re-appointment:
(a) Appointment-
Two consecutive term of five years existing Non-Executive Independent
Director Dr. Pratima Jain (DIN -06955665) is going to be completed on September 26, 2024.
As per section 149 (10) of the Companies Act, 2013 existing Independent Director cannot
continue beyond the two terms. Company need to appoint a woman Non-Executive Independent
Director.
Recommendation of Nomination and Remuneration Committee, the Board of
Directors of the Company at their meeting held on 24th August, 2024 has appointed Ms.
Apoorva Doshi (DIN: 10738787) as an additional Director in the category of Non-Executive
Independent Woman Directors of the Company with effect from August 24, 2024 for a period
of 5 consecutive years till August 23, 2029 subject to confirmation of their appointment
as a Director under the category of Non-Executive Independent Woman Directors by
shareholders at the ensuing Annual General Meeting of the company,
Statement regarding opinion of the Board with regard to integrity,
expertise and experience (including the
proficiency) of the independent directors appointed during the year to
be appointed:
The Board of directors upon the recommendation of the Nomination and
Remuneration Committee at their meeting held on 24th August, 2024 has appointed Ms.
Apoorva Doshi (DIN: 10738787) as an additional Director in the category of Non-Executive
Independent Woman Directors of the Company with effect from August 24, 2024 for a period
of 5 consecutive years till August 23, 2029 subject to confirmation of their appointment
as a Director under the category of Non-Executive Independent Woman Directors Subject to
approval of shareholders at the ensuing Annual General Meeting of the company. Board is of
the opinion that her appointment is very much beneficial to the company and therefore it
is desirable to continue to avail her services as an Independent Director.
Your Board of Directors recommends passing of necessary resolution to
that effect as set out in the Item No. 8 notice of the
Annual General Meeting.
(b) Re-appointment-
Mr. Vinod Kumar Jain (holding DIN: 10289373), who was appointed
as an Independent Director of the Company for a term of 2 (two) consecutive years
commencing from August 25, 2023 upto August 24, 2025 (both days inclusive) and who being
eligible for re-appointment as an Independent Director has given his consent along with a
declaration that he meets the criteria for independence under Section 149(6) of the Act
and the rules framed thereunder and Regulation 16(1)(b) of the SEBI Listing Regulations
and in respect of whom the Company has received a Notice in writing from a Member under
Section 160(1) of the Act proposing his candidature for the officeof Director and based on
the recommendation of the Nomination & Remuneration Committee and the Board of
Directors of the Company, be and is hereby re-appointed as an Independent Director of the
Company, not liable to retire by rotation, to hold officefor a second term of 5 ( ve)
consecutive years on the Board of the Company commencing from August 25, 2025 upto August
24, 2030 (both days inclusive), Subject to approval of shareholders at the ensuing Annual
General Meeting of the company,
Your Board of Directors recommends passing of necessary resolution to
that effect as set out in the Item No. 6 notice of the Annual General Meeting.
Changes in KMPs:-
During the year under review there is no change in KMPs.
Independent directors
During the year under review *Mr. Niranjan Chakraborty; Mrs. Pratima
Jain; Mr. Rajesh Jain and **Mr. Vinod Kumar Jain were Independent Director of the Company.
*Mr. Niranjan Chakraborty ceased/ retired from the directorship of the
Company from the close of business hours on March 31, 2024 due to completion of his second
and final tenure as Independent Director of the Company.
**Mr. Vinod Kumar Jain (holding DIN: 10289373), who was appointed as an
Independent Director of the Company for a term of 2 (two) consecutive years commencing
from August 25, 2023 upto August 24, 2025 (both days inclusive).
- FAMILIARIZATION PROGRAM FOR INDEPENDENT DIRECTORS
All independent directors inducted into the Board attend an orientation
program. The details of the training and familiarization program are provided in the
corporate governance report. Further, at the time of the appointment of an independent
director, the Company issues a formal letter of appointment outlining his / her role,
function, duties and responsibilities.
- BOARD AND COMMITTEE MEETINGS
The details of the composition of the Board and its Committees and the
number of meetings held and attendance of Directors at such meetings are provided in the
Corporate Governance Report, which forms part of the Annual Report.
- DIRECTORS' RESPONSIBILITY STATEMENT:
To the best of their knowledge and belief and according to the
information and explanations obtained by them, your Directors make the following
statements in terms of Section 134(3)(C) of the Companies Act, 2013:
a) that in the preparation of the annual financial statements for the
year ended March 31, 2023, the applicable accounting standards have been followed along
with proper explanation relating to material departures, if any;
b) that such accounting policies as mentioned in Notes to the Financial
Statements have been selected and applied consistently and judgment and estimates have
been made that are reasonable and prudent so as to give a true and fair view of the state
of a airs of the Company as at March 31, 2023 and of the profit of the Company for the
year on that date;
c) that proper and sufficient care has been taken for 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) that the annual financial statements have been prepared on a going
concern basis;
e) that proper internal financial controls were in place and that the
financial controls were adequate and were operating effectively.
f) that systems to ensure compliance with the provisions of all
applicable laws were in place and were adequate and operating effectively.
- PUBLIC DEPOSIT:
During the year under review, your company has neither invited nor
accepted any deposit under the provisions of Section 73 of the Companies Act, 2013 and
rules.
- PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS BY COMPANY
The Details of Loans, Guarantees and Investments covered under the
provisions of Section 186 of the Companies Act, 2013 are given in the notes to Financial
Statements forming part of Annual Report. -
AUDITORS AND THEIR REPORT:
A. Statutory auditors
M/s Mahendra Badjatya & Co. Chartered Accountants, (ICAI FRN
001457C), has been re-appointed as the Statutory Auditors of the Company for the second
consecutive term of ve years at the 34th Annual General Meeting held on 28.09.2022 till
the conclusion of the 39th Annual General Meeting to be held in the year 2027.
The Standalone and Consolidated Auditors Report and the Notes on
financial statement for the year financial year 2023-24 referred to in the Auditor's
Report are self-explanatory and does not contain any qualification, reservation or adverse
remark, therefore, do not call for any further comments.
B. 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 M/s I G & Associates, Company Secretaries, F.R. No.:
I2013MP1054000, to undertake the secretarial audit of the company for the financial year
2024-25.
The Secretarial Audit Report does not contain any qualification,
reservation or adverse remark, therefore, do not call for any further comments given. The
Report of the Secretarial Audit for the year 2023-24 in the Form MR-3 is annexed herewith
as Annexure-D forming part of this report.
C. Cost auditors
As per the requirement of Central Government and pursuant to the
provisions of Section 148 of the Companies Act, 2013 read with the Companies (Cost Records
and Audit) Rules, 2014, as amended from time to time, the Company has been carrying out
audit of Cost Records.
The Board of Directors, on the recommendation of Audit Committee, has
appointed Yash & Associates, Cost Accountants (FRN: 005252), as Cost Auditor to audit
the cost accounts of the Company for the Financial Year 2024-25 at a remuneration of Rs.
22,000/- (Rupees Twenty Two Thousand only) & re-imbursement of out of pocket expenses
as required under the Companies Act, 2013. A resolution seeking members' approval for
the remuneration payable to the Cost Auditor forms part of the Notice convening the Annual
General Meeting.
D. Internal auditors
The Board of Directors, on the recommendation of Audit Committee, has
appointed, Mrs. Pratibha Kothari, Chartered Accountants as Internal Auditor of the Company
for the financial year 2024-25 to perform the duties of internal auditors of the company
and their report is reviewed by the audit committee from time to time.
- TRANSFER OF SHARES AND DIVIDEND AMOUNT TO IEPF:
Pursuant to the provisions of the Companies Act, 2013 read with the
IEPF Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 ("the
Rules") notified by the Ministry of Corporate A airs, the unclaimed and unpaid
dividends amount for the year 2016-17 is required to be transferred to IEPF in the due
date as specified in the Notice of the AGM and shares of the respective shares on which no
dividend is claimed for a consecutive 7 years will also be transferred to IEPF Authority
as per the requirement of the IEPF rules on due date. During the financial year 2023-24,
The Company has Transfer 6,259 (Six Thousand Two Hundred Fifty Nine) Equity Shares to
Investors Education and Protection Fund (IEPF) related to the concerned shareholders have
not claimed dividend for a period of 7 consecutive years.
- ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE:
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 given in the
"Annexure-A" forming part of this report.
- INDUSTRIAL RELATIONS:
Industrial relations of the Company remained cordial during the year.
- SUBSIDIARY COMPANY:
M/s. M.M. Metals Pvt. Ltd. is subsidiary of your Company.
Pursuant to the provisions of the Companies Act, 2013, your Company has
prepared Consolidated Financial Statements of your Company which is forming part of this
Annual Report. Further, a Statement containing salient features of financial information
of the Subsidiary Company/Associate Company is disclosed in the prescribed format AOC-1,
pursuant to Provisions of the Companies Act, 2013 read with the Companies (Accounts)
Rules, 2014, is annexed to this Report "Annexure-B" The Statement also
provides details of performance and financial position of each of the Companies.
In accordance with the provisions of Section 136 of the Companies Act,
2013, the Audited Financial Statements, the Consolidated Financial Statements and the
related information of the Company and the Audited Accounts of the Subsidiaries Company,
is available on our website i.e. www.itl.co.in. These documents shall also be available
for inspection during the business, i.e. between 9.30 A.M. to 5.00 P.M. on all working
days at the Registered O ce of the Company.
- RELATED PARTY TRANSACTIONS:
All related party transactions conducted in the last financial year
were carried out on an arms-length basis and were consistent with our ordinary course of
business. For further details, please refer to "Annexure-C" included with
this report.
In compliance with Regulation 23 of the Listing Regulations, any
transactions requiring shareholders' approval are outlined in the Notice section of this
Annual Report.
All Related Party Transactions are presented to the Audit Committee for
prior approval. For transactions that are repetitive or unpredictable in nature, prior
omnibus approval from the Audit Committee is sought.
- CORPORATE SOCIAL RESPONSIBILITY (CSR) :
During the year under review, your Company having profit before tax of
Rs. 1187.49 Lakhs and as per provisions of Section135 of the Companies Act, 2013, every
company having net worth of rupees ve hundred Crore or more or turnover of rupees one
thousand crore or more or a net Pro t of rupees ve crore or more during any financial year
shall constitute a Corporate Social Responsibility Committee of the Board consisting of
three or more directors out of which at least one director shall be an independent
director;
Accordingly Board has constituted Corporate Social Responsibility
Committee in its meeting held on 13 August, 2018 comprising following members:-
1. Shri Rajendra Jain - Chairman
2. Shri Mahendra Jain - Member
3. Dr. Pratima Jain - Member
The role of the committee is to formulate and recommend a CSR policy to
the Board, to recommend expenditure to be incurred on CSR activities, to monitor The CSR
Policy of the Company From time to time and to institute a transparent monitoring
mechanism for implementation of the CSR projects or programs or activities undertaken by
the Company.
Further expenses towards CSR activities will be done in current
financial year and will be review time to time.
The Company's CSR Policy lays out the vision, objectives and
implementation mechanisms. The Company's CSR policy is available on the Company's website
at www.itl.co.in The Company's CSR activities have traditionally focused on education,
skill development, health, environment and promoting sustainable practice. Annual Report
on CSR activates is annexed herewith as "Annexure-E".
- REMUNERATION POLICY/DISCLOSURE RELATING TO REMUNERATION OF
DIRECTORS, KEY MANAGERIAL PERSONNELAND PARTICULARS OF EMPLOYEE:
In accordance with section 178 and other applicable provisions if any,
of the Companies Act 2013 read with the rules issued under there, the Board of Directors
formulated the Nomination and Remuneration Policy of your Company ion the recommendations
of the Nomination and Remuneration Committee. Details of Policy covering these
Requirements have disclosed in Corporate Governance Report.
During the year none of the employee of the company is drawing more
than 1.02 Cr. per annum or Rs. 8.50 Lakhs per month for the part of the year, therefore
Particulars of the employee as require under section 197 of the Companies Act 2013 read
with rule 5(2) & 5 (2) of the Companies (appointment and remuneration) Rule 2014 are
not applicable Details attached as"Annexure-F".
- REPORT ON MANAGEMENT DISCUSSION ANALYSIS REPORTS ON CORPORATE
GOVERNANCE & MANAGEMENT DISCUSSION A NALYSIS :
Pursuant to Regulation 34(2)(e) of the SEBI (Listing Obligation and
Disclosure Requirement) Regulation 2015, a spate titled "Report on Corporate
Governance and Management Discussion and Analysis" forms part of this Annual Report.
Certificate confirming compliance with conditions of Corporate
Governance as stipulated under Regulation 34(2)(e) of the SEBI (Listing Obligation and
Disclosure Requirement) Regulation 2015, also forms parts of this Annual Report.
- DISCLOSURE ON ESTABLISHMENT OFAVIGIL MECHANISM/WHITLE BLOWER
POLICY:
Pursuant to the provisions of Section 177 (9) & (10) of the
Companies Act, 2013 read with Rule 7 of Companies (Meetings of Board and its Powers)
Rules, 2014 and SEBI (LODR) Regulations, 2015, the Company has in place a Whistle Blower
Policy, which provides for a vigil mechanism that encourages and supports its Directors
and employees to report instances of illegal activities, unethical behavior, actual or
suspected, fraud or violation of the Company's Code of Conduct or Ethics Policy. It also
provides for adequate safeguards against victimization of persons who use this mechanism
and direct access to the Chairman of the Audit Committee in exceptional cases. During the
year under review, no protected disclosure concerning any reportable matter in accordance
with the Vigil mechanism and Whistle Blower policy of the Company was received by the
Company. The Whistle Blower Policy has been posted on the website of the company
www.itl.co.in.
- SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS
OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS OF THE COMPANY:
There are no significant and/or material orders passed by the
Regulators or Courts or Tribunals impacting the going concern status of the Company.
- CODE OF CONDUCT:
The Company laid down a code of conduct for all Board Members and
Senior Management and Independent Directors of the Company. All the Board Members
including Independent Directors and Senior Management Personnel have armed compliance with
the Code of Conduct. Declaration on adherence to the code of Conduct is forming part of
the Corporate Governance Report.
- STATEMENT INDICATING DEVLOPMENT & IMPLEMENTATION OF RISK
MANAGEMNT POLICY:
The Board of Directors has adopted Risk Management Policy for the
Company which provides for identi cation, assessment and control of risks which in the
opinion of the Board may threaten the existence of the Company. The Management identi es
and controls risks through a properly defined framework in terms of the aforesaid policy.
The code of conduct disclosed on the Company's website i.e. www.itl.co.in.
- SEXUAL HARASSMENT OF WOMEN AT WORK PLACE (PREVANTION
PROHIBITION& REDRESSAL) ACT, 2013:
The Company has in place and Anti Sexual Harassment Policy in line with
requirements of the Sexual Harassment of the Women at Workplace (Prevention Prohibition
and Redressal) Act 2013. An Internal Complaints Committee (ICC) has been setup to redress
the Complaints received regarding sexual harassment. There was no case of sexual
harassment reported during the year under review.
- PREVENTION OF INSDER TRADING:
In view of the SEBI (Prohibition of Insider Trading) Regulation 2015
the Company has adopted a Code of Conduct for Prevention of Insider Trading with a view to
regulate trading in securities by the Directors and designated employees of the Company.
The code requires Trading Plan, pre clearance for dealing in the
Company's shares and prohibits the purchase or sale of Company' shares by the
Directors and the designated employees while in possession of unpublished price sensitive
information in relation to the Company and during the period when the Trading window is
closed.
- LISTING OF SHARES:
Company shares are listed on BSE Limited only. The company has paid
annual listing fee for financial year 2023-24.
- DEPOSITORY SYSTEM:
Your Company's shares are tradable compulsorily in electronic form and
your Company has connectivity with both the Depositories i.e. National Securities
Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL). In view
of the numerous advantage offered by the Depository System, members are requested to avail
of the facility of Dematerialization of the Company's shares on either of the Depositories
mentioned as aforesaid. The Company has paid the annual custodian fee to respective
depositories.
- EXTRACT OFANNUAL RETURN :
Pursuant to section 134(3)(a) and section 92(3) of the Companies Act,
2013 read with Rule 12(1) of the Companies (Management and Administration) Rules, 2014,
the Annual Return in form MGT-7 for the year ended 31st March, 2024 is hosted on
www.itl.co.in. The same shall be led to Registrar of Companies after annual General
Meeting to be held on 28th September, 2024.
- CONSOLIDATED FINANCIAL STATEMENTS:
The Directors also present the audited consolidated financial
statements incorporating the duly audited financial statements of the subsidiary, viz M/s.
M.M. Metals Pvt. Ltd. And consolidating the financial information's of associates on
equity method as prepared in compliance with the accounting standards and listing
agreement.
- ACKNOWLEDGEMENT:
We wish to acknowledge the understanding & support and the services
of the workers, sta and executives of the Company, who have largely contributed to the
efficient operations & management of the operations of the Company.
Your Directors also wish to place on record the valuable co-operation
& support received from the Bankers and Financial Institutions. We would also like to
express thanks to our Shareholders for their con dence and understanding.
|
|
For and On behalf of the Board |
|
Rajendra Jain |
Mahendra Jain |
PLACE: INDORE |
Managing Director |
Joint Managing Director |
DATE: 24/08/2024 |
DIN 00256515 |
DIN : 00256047 |