DIRECTORS’ REPORT
Dear Members,
Your directors have the pleasure in presenting their 9 th annual report together with the
audited financial statements for the year ended 31st March 2023.
COMPANY OVERVIEW:
The company has incurred a net profit of Rs. 10,01,769/- in the current fiscal year.
FINANCIAL RESULTS
The financial performance of your company appears as follows:
Financial Highlights
(In Rs.) (In Rs.)
Financial Year 2022-23 2021-22
Income/Revenue 6,33,46,160 6,34,59,644
Profit/(Loss) Before Tax & Depreciation 14,58,399 13,52,747
Less: Depreciation for the year 1,14,208 1,43,385
Profit/(Loss) After Depreciation but Before Tax 13,44,191 12,09,362
Tax (Including Deferred Tax) 3,42,422 3,05,689
Profit/(Loss) After Depreciation and Tax 10,01,769 9,03,673
Balance Transferred to Balance Sheet 10,01,769 9,03,673
SHARE CAPITAL
There was no change in the capital structure of the company. Authorized capital as well
as paid-up capital remains unchanged as there was no increase in the authorized capital
and no allotment was made during the financial year.
The authorized capital of the company stand at Rs.1,00,000 (Rupees One Lakh Only)
divided into 10,000 (Ten Thousand) Equity Shares of Rs.10/- (Rupees Ten Only) out of
which 10,000 (Ten Thousand) Equity Shares of Rs. 10/-(Rupees Ten Only) each which is
fully subscribed and paid –up.
The company has not issued any other shares with differential voting rights nor granted
stock options nor sweat equity.
TRANSFER TO RESERVES & SURPLUS:
The company has transferred net profit of Rs. 10,01,769 to reserves & surplus for
financial year ended 31st March 2023.
DIVIDEND
The company has not issued any dividend for declaration.
TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCATION & PROTECTION
FUND:
The provisions of Section 125(2) of the Companies Act, 2013 do not apply, as there was
no dividend declared and paid during the last financial year and any preceding financial
years.
DEPOSITS
The company has neither accepted nor renewed any deposits and, as such, no amount of
principal or interest was outstanding, as on the balance sheet closure date.
EMPLOYEE STOCK OPTION SCHEME
The company has not issued any Employee Stock Option Scheme.
DIRECTORS AND KEY MANAGERIAL PERSONNEL
There was no change during the year.
NUMBER OF BOARD MEETINGS
The board of directors duly met four time in the financial year 2022-23 as per following
details. The intervening gap between the meetings was within the period prescribed
under the Companies Act, 2013.
Date of meetings:
1. 26.06.2022
2. 11.09.2022
3. 08.12.2022
4. 20.03.2023
The names of the members of the board, their attendance at the board meetings are as
follows:
S.No. Name and Designation No. of Meetings
Attended
1 Mrs. Nisha Dhankar 4
2 Mrs. Sunita Gahlot 4
AUDIT COMMITTEE
The company has not framed audit committee as the provisions of section 177 of the
Companies Act 2013 are not applicable to the company.
NOMINATION AND REMUNERATION COMMITTEE/POLICY
The provisions of Section 178(1) relating to constitution of Nomination and
Remuneration Committee are not applicable to the company and hence the company
has not devised any policy relating to appointment of directors, payment of managerial
remuneration, directors qualifications, positive attributes, independence of directors
and other related matters as provided under Section 178(3) of the Companies Act, 2013.
CORPORATE SOCIAL RESPONSIBILITY
The provisions pertaining to Corporate Social Responsibility as prescribed under the
Companies Act, 2013 are not applicable to the company.
DECLARATION BY INDEPENDENT DIRECTORS
Keeping in the view the various yard sticks as prescribed under the Act & Rules made
there under the provisions of Section 149 pertaining to the appointment of Independent
Directors are not applicable to the company.
RISK MANAGEMENT POLICY
In compliance with the provisions of the Companies Act, the board of directors
approved and adopted the Risk Management Policy for the purpose of development
and implementation of the same including identification of risk therein, if any, which in
the opinion of the management may threaten the existence of the Company.
INTERNAL FINANCIAL CONTROL
During the period under review, the directors had implemented adequate internal
financial checks and controls with reference to the financial statements of the Company
for the year ended March 31, 2023.
VIGIL MECHANISM
In pursuant to the provisions of sub section (9) and (10) of section 177 of the
Companies Act, 2013, there is no requirement to establish a Vigil Mechanism for
directors and employees to report genuine concerns.
DETAILS OF SUBSIDIARY, JOINT VENTURE OR ASSOCIATE COMPANIES
As on March 31, 2023, the company does not have any Subsidiary, Joint venture
Company.
ACCOUNTS
Audited accounts along with the notes therein are self-explanatory and do not require
any further explanation or clarification.
STATUTORY AUDITORS
In terms of provisions of Section 139 of the Companies Act, 2013 and Companies (Audit
and Auditors) Rules, 2014, the Company’s Statutory Auditors are BSRT & Co.,
Chartered Accountant, (Firm Registration No. 027272N).
DETAILS OF FRAUD REPORT BY AUDITORS
As per auditor’s report, no fraud u/s 143(12) reported by the auditor.
BOARD’S COMMENT ON THE AUDITORS’ REPORT
The board has duly examined the statutory auditors’ report to the accounts, which is
self-explanatory and clarifications, wherever necessary, have been included in the notes
to accounts section of the annual report.
EXPLANATIONS OR COMMENTS BY THE BOARD ON QUALIFICATIONS,
RESERVATIONS/ADVERSE REMARKS/DISCLAIMER MADE BY THE STATUTORY
AUDITOR IN HIS REPORT
The statutory auditors have not given any Qualification, Reservation or made any
adverse remarks or disclaimer in their audit report.
SECRETARIAL AUDITOR
In terms of Section 204 of the Companies Act, 2013 and the companies (Appointment
and Remuneration of Managerial Personnel) Rules, 2014, secretarial audit is not
applicable to the company.
MATERIAL CHANGES AND COMMITMENTS, IF ANY, AFFECTING THE FINANCIAL
POSITION OF THE COMPANY WHICH HAVE OCCURRED BETWEEN THE END OF THE
FINANCIAL YEAR OF THE COMPANY TO WHICH THE FINANCIAL STATEMENTS
RELATED AND THE DATE OF THE REPORT
There has not been any other material change and commitments occurred, between the
end of the financial year of the Company i.e. 31st March 2023 and the date of this report.
WEBLINK OF ANNUAL RETURN
The company has no weblink on its annual return.
PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS
The details regarding loans and guarantees given, securities made and investment made
by the company in terms of section 186 of the Companies Act, 2013, if any, are given in
the notes to the financial statements.
CONTRACTS AND ARRANGEMENTS WITH RELATED PARTY TRANSACTION
During the year the company has not made any contracts and arrangements with
related party, hence the provisions of disclosure under section 188 of the Companies
Act, 2013 are not applicable to the company.
PARTICULARS OF DIRECTORS AND EMPLOYEES
Pursuant to provisions of section 197 of the Companies Act, 2013 and Rule 5 of
companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014,
there was no employee who was in receipt of remuneration of a sum of Rs.1,02,00,000/-
(Rupees One Crore Two Lakh) per Annum or Rupees 8,50,000/- (Rupees Eight Lakh
Fifty Thousand) per month during the year or part thereof.
Employees
The employees of the company have contributed most significantly to the growth and
development and have been the cornerstone of its success. Equally the company has
endeavored to remain an employer of choice, characterized by a progressive
management style with fully empowered teams across the company.
The company’s Human Resource Department constantly works on launching various
initiatives on an ongoing basis to attract and retain qualified, talented and competent
personnel and ensures that the employees are motivated.
ENERGY CONSERVATION, TECHNOLOGY ABSORPTION, AND FOREIGN EXCHANGE
EARNINGS AND OUTGO
A. CONSERVATION OF ENERGY
The company’s operations are not energy-intensive and as such involve low
energy consumption. However, adequate measures have been taken to conserve
the consumption of energy.
B. TECHNOLOGY ABSORPTION
Operations of the company do not involve any kind of special technology and
there was no expenditure on research & development during this financial year.
C. FOREIGN EXCHANGE EARNINGS AND OUTGO
There is a no Foreign Exchange earnings and no outgo during the financial
period ended 31st March, 2023.
SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS
OR TRIBUNALS
There are no significant, material orders passed by the regulators or Courts or
Tribunals, which would impact the going concern status of the Company and its future
operations.
DISCLOSURE UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE
(PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013
Your directors further state that during the year under review, there were no cases filed
pursuant to the Sexual harassment of Women at workplace (Prevention, Prohibition
and Redressal) Act, 2013.
COST RECORDS
The provisions of Cost Audit as per section 148 of the Companies Act, 2013 doesn’t
applicable on the company.
DIRECTORS’ RESPONSIBILITY STATEMENT
Pursuant to Section 134 of the Companies Act, 2013, the directors, to the best of their
knowledge and belief, confirm that:
a) in the preparation of the annual accounts, the applicable accounting standards read
with requirements set out under schedule III to the Act, have been followed along
with proper explanation relating to material departures;
b) 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 and loss of the company for that period;
c) the directors had taken proper and sufficient care for the maintenance of adequate
accounting records in accordance with the provisions of this Act for safeguarding
the assets of the company and for preventing and detecting fraud and other
irregularities;
d) the directors had prepared the annual accounts on a going concern basis; and
e) 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.
ACKNOWLEDGEMENT
The directors on behalf of the company and management express their gratitude for the
support and co-operation extended by shareholders of the company, Company’s
Bankers, Business Partners, various agencies and departments of Government of India.
The directors would also like to place on record their sincere appreciation for the
valuable contribution, unstinted efforts and devoted services of all employees of the
company.
On Behalf of the Board of Director
For Ablroots Industries Private Limited
Nisha Dhankar Sunita Gahlot
Director Director
DIN: 06738108 DIN: 06875576
Place: New Delhi
Date: 19th August, 2023
