To

The Members

Your Directors have pleasure in presenting the 14th Annual Report of the
company together with the Audited Accounts for the year ended 31st March, 2023.

1. FINANCIAL HIGHLIGHTS




  

    

    
(Rs. in lakh)
  
  

    
Particulars
    
Current Year
    
Previous Year
  
  

    

    
2023
    
2022
  
  

    
Revenue from operations
    
7966.20
    
8624.13
  
  

    
Operating Profit
    
162.57
    
306.55
  
  

    
Other Income
    
54.83
    
5.86
  
  

    
Depreciation
    
(178.99)
    
(173.81)
  
  

    
Profit before tax
    
38.41
    
138.60
  
  

    
Tax Expenses:
    

    

  
  

    
Current Tax
    
(6.6)
    
(24.76)
  
  

    
MAT Credit Entitlement
    
6.60
    
(0.10)
  
  

    
Deferred Tax
    
(10.27)
    
(9.03)
  
  

    
Income tax for Earlier Year
    
(0.93)
    
(0.08)
  
  

    
Total Tax Expenses
    
(11.20)
    
(33.97)
  
  

    
Net Profit
    
27.21
    
104.63
  
  

    
Other Comprehensive Income/(Loss) for the year, net of tax
    
00
    
00
  
  

    
Total Comprehensive Income
    
27.21
    
104.62
  
  

    
Add : Balance Brought forward from last year
    
759.91
    
655.28
  
  

    

    
787.12
    
759.90
  


2. State of Company's Affairs



Your Company is engaged in the business of manufacturing and marketing of PP/HDPE Bags,
Jumbo Bags (Flexible Intermediate Bulk Containers (FIBC)) and other kinds of flexible
packaging products.

On a Standalone basis during the year under review the Company has earned a profit of
Rs. 27.21 Lakhs at a turnover of Rs. 7,966.20 Lakhs compared to a net profit of Rs. 104.62
Lakhs at a turnover of Rs. 8624.13 Lakhs in the previous year 2021-22.

On a Consolidated basis during the year under review the Company has earned a profit of
Rs. 27.58 Lakhs at a turnover of Rs. 7,966.20 Lakhs compared to a net profit of Rs. 104.63
Lakhs at a turnover of Rs. 8624.13 Lakhs in the previous year 2021-22.

3. Change in the Nature of Business, if any



There was no Change in the Nature of Business of the Company during the year under
review.

4. Dividend



To conserve the resources of the Company for future expansions, long - term working
capital requirements and for General Corporate purposes, the Board of Directors of the
Company did not recommend any dividend for the year 2022-23.

5. Public Deposits



The Company has not accepted any Deposits during the year, no deposits remained unpaid
or unclaimed as at the end of the year and as such there was no default in repayment of
deposits or payment of interest thereon during the year.

6. Transfer to Reserves



Your Directors propose to transfer Rs. 27.21 lacs of the current profits to the General
reserve.

7. Bonus Issue



During the year under review on approval of the shareholders of the Company, the Board
has issued and allotted 5064705 bonus equity shares of Rs. 10/- (Rupees Ten only) each
credited as fully paid-up to eligible members of the Company in the proportion of 102:100
i.e. 102 (One hundred and Two) equity shares of nominal value Rs.10/- (Rupees Ten Only)
each for every 100 (hundred) equity share of nominal value of Rs.10/- (Rupees Ten Only)
each held as on 11th October, 2023, the record date, by capitalizing a sum of
Rs. 5,06,47,050/- (Five Crore Six Lakhs Fourty Seven Thousand and Fifty Rupees only) out
of securities premium account of the Company.

Presently as on 31st March, 2023 the Authorised Share Capital of the Company
stood at Rs. 20.00 Crs. divided into 2,00,00,000 shares of Rs. 10/- each whereas the
Paid-up share capital of the Company is Rs. 10,03,01,050/- divided into 10,030,105 shares
of Rs. 10/- each.

8. Directors' Responsibility Statement



Pursuant to the provisions of Section 134(5) of the Companies Act, 2013, your Directors
hereby confirm that:

i) In the preparation of the annual accounts, the applicable accounting standards had
been followed along with proper explanation related to material departures;

ii) Appropriate accounting policies have been selected and applied consistently and
judgements and estimates that are reasonable and prudent have been made so as to give a
true and fair view of the state of affairs of the Company as at 31st March, 2023 and of
the Profit of the Company for the year ended on 31st March, 2023;

iii) Proper and sufficient care has been taken, to the best of their knowledge and
ability, 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;

iv) The annual accounts have been prepared on a going concern basis;

v) The Directors have laid down internal financial Controls to be followed by the
Company and that such internal financial controls are adequate and are operating
effectively; and

vi) Proper systems have been devised to ensure compliance with the provisions of all
applicable laws and that such systems are adequate and operating effectively.

9. Directors and Key Managerial Personnel



• Appointments/Re-appointments



Mr. Pramod Kumar Agarwal was re-appointed as the Chairman & Managing Director of
the Company for a period of 5 years w.e.f. 8th September, 2022 with the
approval of the members of the Company at the Annual General Meeting held on 30th
September, 2022.

• Retirement by Rotation



Pursuant to the provisions of Section 152(6) and other applicable provisions of the
Companies Act, 2013 and Articles of Association of the Company, Mr. Pawan Kumar Agarwal
(DIN: 00325033) Non-Executive Director of the Company, retires by rotation at the ensuing
Annual General Meeting and being eligible offered himself for reappointment.

10. Declaration by Independent Directors



Declaration of Independence as per Section 149(6) of the Companies Act, 2013 were duly
received from all the Independent Directors as required under the provisions of the
Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015.

11. Auditors



• Statutory Auditors



The Notes to Accounts, as referred in the Auditors' Report are self - explanatory and
hence does not call for any further explanation.

There are no qualifications or adverse remarks in the Secretarial Audit Report which
requires any explanation from the Board of Directors of the Company.

• Internal Auditors



M/s. M.L.R. & Co., Chartered Accountant were appointed as the Internal Auditors of
the Company during to carry out the Internal Audit for the FY 22-23 under the provisions
of section 138 of the Companies Act, 2013. The Internal Audit is conducted every year to
scrutinize the functioning of various areas of operations and its
observation/remarks/recommendation are forwarded to the Audit Committee. Required action
is taken based on the decision of the Committee & Board on the
observation/remarks/recommendation, if any given by the internal auditor.

• Secretarial Auditor



M/s. Robin Jain & Associates, Company Secretary were appointed as the Secretarial
Auditor of the Company to carry out Secretarial Audit for the FY 22-23 under the
provisions of Section 204 of the

Companies Act, 2013. The Secretarial Audit Report for the year 22-23 is annexed to the
Board's Report as Annexure C.

There are no qualifications or adverse remarks in the Secretarial Audit Report which
requires any explanation from the Board of Directors of the Company.

• Cost Audit



Pursuant to notification of Companies (Cost Records and Audit) Rules, 2014 read with
Companies (Cost Records and Audit) amendment rules, 2014, the Company's product does not
fall under the purview of Cost Audit.

12. Reporting of Frauds



There was no instance of fraud during the year under review which required the
Statutory auditor or the Secretarial Auditor to report to the Audit Committee, Board and
or Central Govt. under the provisions of Section 143(12) of the Companies Act, 2013 read
with the Rules made thereunder.

13. Personnel (Particulars of employees & Related Disclosures)



The particulars and information of the employees as required under Section 197(12) of
the Companies Act, 2013 read with Rule 5 of the Companies (Appointment and Remuneration of
Managerial Personnel) Rules 2014 has been set out as Annexure - E to this Report, attached
hereto. There are no employees who are in receipt of remuneration in excess of the limit
specified under Section 134(3) (q) read with Rule 5 (2) and 5 (3) of the Companies
(Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2016.

14. Company's Website



The website of the Company www.smvdpolypack.com represents a perfect view of the
Company's businesses, its products for all its customers and investors. The site not only
carries the information about the Company but also includes all the mandatory information
and disclosures as per the requirements of the Companies Act, 2013 and Companies Rules
2014 and as per SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015
viz. Financial Results of your Company, Shareholding Pattern, Directors' & Corporate
Profile, details of Board Committees, Corporate Policies etc.

15. Listing of Securities in Stock Exchanges



The Securities of the Company are Listed on The National Stock Exchange of India Ltd.
(NSE) under the SME Segment. The further shares issued and allotted by the Company during
the year under review as Bonus shares to the existing shareholders of the Company also got
listed at the Stock Exchange within due course of time.

The Company is registered with both NSDL & CDSL for holding the shares in
dematerialized form and open for trading. The Company has paid all requisite Fees to the
Stock Exchange & Depositories.

16. Code of Conduct for Prevention of Insider Trading



In terms of the SEBI (Prohibition of Insider Trading) Regulations, 2015, your Company
has approved &adopted the Code of Conduct for prevention of Insider Trading & the
code of practices

and procedure for fair disclosure of Un-published Price Sensitive Information and the
same is also placed on the Company's website at www.smvdpolypack.com.

17. Related Party Transactions



During the financial year 2022-23, your Company has entered into transactions with
related parties as defined under Section 2(76) of the Companies Act, 2013 read with
Companies (Specification of Definitions Details) Rules, 2014, which were in the ordinary
course of business and on arms' length basis and in accordance with the provisions of the
Companies Act, 2013, Rules issued thereunder. The details of Material Related Party
transaction entered into by the Company with the approval of members at the last Annual
General Meeting held on 30th September, 2022 forms a part of Disclosure if Form
AOC 2 annexed as Annexure F to the Directors Report.

The details of the related party transactions as required under Indian Accounting
Standard - 24 are set out in Note to the Financial Statements forming part of this Annual
Report. The Company has also formulated a policy on dealing with the Related Party
Transactions and the same has been uploaded on the website of the Company.

18. Board Meetings & Committees



i) Number of Board Meetings



The Board of Directors met 6 times during the year under review on 30.04.2022,
30.05.2022, 22.08.2022, 13.10.2022, 15.11.2022 & 10.02.2023 respectively. 


  

    
Name of Directors
    
Category
    
No of Board Meetings
    
Whether attended last AGM held on
    
30th
    
September,
    
2022.
    
No. of
    
Directorship
    
in other
    
public
    
limited
    
Companies
    
No of Committee position held in other public limited
    companies
  
  

    
Held during the year
    
atten 
ded
    
As 
Chair
    
man/
    
Chair
    
perso
    
n
    
As 
Memb
    
er
  
  

    
Mr. Pramod
    
Kumar
    
Agarwal
    
Chairman & Mg. Director
    
6
    
6
    
Yes
    
NIL
    
NIL
    
NIL
  
  

    
Mrs. Sangita Agarwal
    
Non-Executive 
Director
    
6
    
6
    
Yes
    
NIL
    
NIL
    
NIL
  
  

    
Mr. Pawan
    
Kumar
    
Agarwal
    
Non-Executive 
Director
    
6
    
6
    
Yes
    
1 
Public
    
Unlisted
    
Company
    
NIL
    
NIL
  
  

    
Ms. Bharti Ranga
    
Independent 
Director
    
6
    
4
    
Yes
    
1 
Valecha
    
Engineering
    
Ltd.(Listed)
    
NIL
    
3 
Audit,
    
NRC
    
&
    
SRC.
  
  

    
Mr. Varun Roongta
    
Independent 
Director
    
6
    
4
    
Yes
    
NIL
    
NIL
    
NIL
  
  

    
Mr. Sumit
    
Independent
    
6
    
5
    
Yes
    
NIL
    
NIL
    
NIL
  
  

    
Agarwal
    
Director
    

    

    

    

    

    

  


During the year under review Board of Directors of the Company has passed 3 resolutions
by way of Circulation.

ii) Committees of Board



The board has constituted three committees the details of which are as follows:-


AUDIT COMMITTEE - The Audit Committee was entrusted with review of quarterly and
annual financial statements before submission to the Board, review of observations of
auditors and to ensure compliance of internal control systems authority for investigation
and access for full information and external professional advice for discharge of the
functions delegated to the Committee by the Board.


  

    
Serial
    
No.
    
Name
    
Designation
    
Nature of Directorship
  
  

    
1
    
Mr. Varun Roongta
    
Chairman
    
Non-Executive, Independent
  
  

    
2
    
Mr. Sumit Agarwal
    
Member
    
Non-Executive, Independent
  
  

    
3
    
Mr. Pawan Kumar Agarwal
    
Member
    
Non-Executive, Non- Independent
  


All the members of the Committee are financially literate.


The terms of reference of the Audit Committee are as follows:-


1) Oversight of the listed entity's financial reporting process and the disclosure of
its financial information to ensure that the financial statement is correct, sufficient
and credible;

2) recommendation for appointment, remuneration and terms of appointment of auditors of
the listed entity and review and monitor the auditor's independence, performance, and
effectiveness of audit process;

3) approval of payment to statutory auditors for any other services rendered by the
statutory auditors;

4) reviewing, with the management, the annual financial statements and auditor's report
thereon before submission to the board for approval, with particular reference to:

a) matters required to be included in the director's responsibility statement to be
included in the board's report in terms of clause (c) of sub-section (3) of Section 134 of
the Companies Act, 2013;

b) changes, if any, in accounting policies and practices and reasons for the same;

c) major accounting entries involving estimates based on the exercise of judgment by
management;

d) significant adjustments made in the financial statements arising out of audit
findings;

e) compliance with listing and other legal requirements relating to financial
statements;

f) disclosure of any related party transactions;

g) modified opinion(s) in the draft audit report;

5) reviewing, with the management, the quarterly financial statements before submission
to the board for approval;

6) reviewing, with the management, the statement of uses / application of funds raised
through an issue (public issue, rights issue, preferential issue, etc.), the statement of
funds utilized for purposes other than those stated in the offer document / prospectus /
notice and the report submitted by the monitoring agency monitoring the utilisation of
proceeds of a public or rights issue, and making appropriate recommendations to the board
to take up steps in this matter;

7) reviewing and monitoring the auditor's independence and performance, and
effectiveness of audit process;

8) approval or any subsequent modification of transactions of the listed entity with
related parties;

9) scrutiny of inter-corporate loans and investments;

10) valuation of undertakings or assets of the listed entity, wherever it is necessary;

11) evaluation of internal financial controls and risk management systems;

12) reviewing, with the management, performance of statutory and internal auditors,
adequacy of the internal control systems;

13) reviewing the adequacy of internal audit function, if any, including the structure
of the internal audit department, staffing and seniority of the official heading the
department, reporting structure coverage and frequency of internal audit;

14) discussion with internal auditors of any significant findings and follow up there
on;

15) reviewing the findings of any internal investigations by the internal auditors into
matters where there is suspected fraud or irregularity or a failure of internal control
systems of a material nature and reporting the matter to the board;

16) discussion with statutory auditors before the audit commences, about the nature and
scope of audit as well as post-audit discussion to ascertain any area of concern;

17) to look into the reasons for substantial defaults in the payment to the depositors,
debenture holders, shareholders (in case of non-payment of declared dividends) and
creditors;

18) to review the functioning of the whistle blower mechanism;

19) approval of appointment of chief financial officer after assessing the
qualifications, experience and background, etc. of the candidate;

20) Carrying out any other function as is mentioned in the terms of reference of the
audit committee.

The audit committee shall mandatorily review the following information:

1) management discussion and analysis of financial condition and results of operations;

2) statement of significant related party transactions (as defined by the audit
committee), submitted by management;

3) management letters / letters of internal control weaknesses issued by the statutory
auditors;

4) internal audit reports relating to internal control weaknesses; and

5) the appointment, removal and terms of remuneration of the chief internal auditor
shall be subject to review by the audit committee.

6) statement of deviations:

a) quarterly statement of deviation(s) including report of monitoring agency, if
applicable, submitted to stock exchange(s) in terms of Regulation 32(1).

b) annual statement of funds utilized for purposes other than those stated in the offer
document/prospectus/notice in terms of Regulation 32(7).

The Committee shall have the following powers:-

The Audit Committee shall be authorised to investigate any matter in relation to above
term of reference and shall have power :

1. To seek information from any employee.

2. To obtain outside legal or other professional advice.

3. To secure attendance of outsiders with relevant expertise, if it considers
necessary.


Meetings held and attended during the year - 4 Audit Committee meetings on 30.05.2022,
22.8.2022, 15.11.2022 and 10.02.2023 respectively were held during the year under review.



  

    
Serial
    
No.
    
Name
    
Meetings held
    
Meetings attended
  
  

    
1
    
Mr. Varun Roongta
    
4
    
4
  
  

    
2
    
Mr.Sumit Agarwal
    
4
    
4
  
  

    
3
    
Mr. Pawan Kumar Agarwal
    
4
    
4
  


• NOMINATION & REMUNERATION COMMITTEE




  

    
Serial
    
No.
    
Name
    
Designation
    
Nature of Directorship
  
  

    
1
    
Mr. Sumit Agarwal
    
Chairman
    
Non-Executive, Independent
  
  

    
2
    
Ms. Bharti Ranga
    
Member
    
Non-Executive, Independent
  
  

    
3
    
Mr. Varun Roongta
    
Member
    
Non-Executive, Independent
  



The terms of reference of the Nomination & Remuneration Committee are as follows:-


1) formulation of the criteria for determining qualifications, positive attributes and
independence of a director and recommend to the board of directors a policy relating to,
the remuneration of the directors, key managerial personnel and other employees;

2) formulation of criteria for evaluation of performance of independent directors and
the board of directors;

3) devising a policy on diversity of board of directors;

4) identifying persons who are qualified to become directors and who may be appointed
in senior management in accordance with the criteria laid down, and recommend to the board
of directors their appointment and removal.

5) Whether to extend or continue the term of appointment of the independent director,
on the basis of the report of performance evaluation of independent directors.


Meetings held and attended during the year - 1 meeting of NR committee was held on
22.08.2022 during the year under review.



  

    
Serial
    
No.
    
Name
    
Meetings held
    
Meetings attended
  
  

    
1
    
Mr. Sumit Agarwal
    
1
    
1
  
  

    
2
    
Ms. Bharti Ranga
    
1
    
1
  
  

    
3
    
Mr. Varun Roongta
    
1
    
1
  


One meeting of the Nomination & Remuneration committee was also deemed to be held
by way of passing of resolution by circulation.


STAKEHOLDER RELATIONSHIP COMMITTEE - Stakeholders Relationship Committee looks into
redressing of shareholders' and investors grievances like transfer of Shares, non receipt
of Balance Sheet, etc.

Composition of Committee w.e.f. 30th May, 2023.


  

    
Serial
    
No.
    
Name
    
Designation
    
Nature of Directorship
  
  

    
1
    
Mr. Pawan Kumar Agarwal
    
Chairman
    
Non-Executive, Non -Independent
  
  

    
2
    
Mr. Pramod Kumar Agarwal
    
Member
    
Executive
  
  

    
3
    
Ms. Bharti Ranga
    
Member
    
Non-Executive, Independent
  



The terms of reference of the Stakeholders Relationship Committee are as follows:-


1) Review the mechanism adopted for redressing the grievance of shareholders, debenture
holders and deposit holders and other security and the status of such redressal;

2) Review of the activities of the Secretarial Department of the Company inter alia
adherence to Service Standards and Standard Operating Procedures relating to the various
services rendered by the Investor Services Department, various initiatives taken to inter
alia reduce quantum of unclaimed dividends, status of claims received and processed for
unclaimed shares, uploading of data relating to unclaimed deposits/ dividends on the
website of Investor Education & Protection Fund and the Corporation.

3) Review status of compliances with laws applicable to the Secretarial Department and
its risk profile;

4) Review the Action Taken Report in respect of recommendations made by the Committee/
Management;

5) Review the status of the litigation(s) filed by/ against the security holders of the
Company;

6) Review the mechanism adopted to review, monitor and report transactions relating to
securities which may be suspicious from a money laundering perspective, in accordance with
the KY C & AML Policy relating to securities of the Corporation; and

7) The Committee shall perform such other functions as may be required under the
relevant provisions of the Companies Act, 2013, the Rules made there under and Listing
Regulations.

8) To oversee the performance of the Registrar and Transfer Agents and recommend
measures for overall improvement in the quality of investors services.


Meetings held and attended during the year - 1 meeting of SR committee was held on
10.02.2022 during the year under review.



  

    
Serial
    
No.
    
Name
    
Meetings held
    
Meetings attended
  
  

    
1
    
Mr. Pramod Kumar Agarwal
    
1
    
1
  
  

    
2
    
Mr. Pawan Kumar Agarwal
    
1
    
1
  
  

    
3
    
Ms. Bharti Ranga
    
1
    
1
  


Note : The Company Secretary acts as the Secretary to all the Committees.

19. Extracts of Annual Return



As per the requirement of Section 134(3)(a) read with Section 92(3) of the Companies
Act, 2013, the Annual Return for the year 2022-23 has been placed on the website of the
Company. The weblink of the same is https://www.smvdpolypack.com/news-highlights



20. Risk Analysis



The Company has in place proper risk management system to inform the Board members
about the Risk assessment and mitigation plans and periodical reviews to ensure that the
critical risks are controlled by the executive management. The Board itself along with the
Audit Committee looks after the risk management plans and ensures its effectiveness.

21. Internal Financial Control



The Company has in place adequate internal financial control as required under section
134(5)(e) of the Act. During the year such controls were tested with reference to
financial statements, no reportable material weakness were observed in the formulation or
operations and appropriate measures were taken as and when required to combat the effect
of deficiencies/weaknesses, if any.

22. Loans, Guarantees and Investments



The Company has made investments during the year in compliance with the provisions of
the Act and the details for the same are given under the head Notes to Financial
Statements.

23. Subsidiaries, Associates or Joint Ventures



Your Company does not have any subsidiaries, joint ventures but it has 1 (one)
associate M/s. Aashakiran Commodeal Pvt. Ltd., during the year under review. As per the
provision of Section 129(3) and rule 5 of the Companies (Accounts) Rules, 2014 the
statement in AOC-1 containing the salient features of the financial statement of the
associate Company is given in Annexure -B.

24. Evaluation of Board's Performance



The Board annually evaluates its performance as well as the performances of its
Committees and of Directors individually.

For evaluating the performance of the Board as a whole, the Board reviews the
periodical performances of the Company and the role of the Board towards achievement of
the said performances and the future plans as set out from time to time.

The performance evaluation of the Chairman and Non-Independent Directors was carried
out by the Independent Directors. The performance of all the Directors was evaluated by
linking it directly with their devotion towards their level of engagement and
contribution, Individual judgements, safeguarding the interest of the Company,
implementation and management of the growth parameters of the Company etc..

The performance of the Non Executive / Independent Directors is also evaluated on the
basis of their contribution for adopting better corporate governance practices,
transparency and disclosures in achieving the goal of the Company.

The performance of the various Committees of the Board is reviewed on the basis of the
achievement of the work designated to the specific committee.

25. Nomination Remuneration & Evaluation Policy



The Company has laid down a Policy on Nomination Remuneration & Evaluation being
recommended by the NR Committee of the Company in compliance with the requisite provisions
of the Companies Act, 2013 & SEBI (LODR) Regulations, 2015. The policy envisages as
follows:

i) Criteria for appointment and removal of Directors, KeyManagerial Personnel (KMP) and
Senior Management Executivesof the Company.

ii) Remuneration payable to the Directors, KMPs and Senior Management Executives.

iii) Evaluation of the performance of the Directors.

iv) Criteria for determining qualifications, positive attributes and independence of a
Director.

26. Vigil Mechanism (Whistle Blower Policy)



Pursuant to the provisions of Section 177(9) & (10) of the Companies Act, 2013 read
with regulation 22 of the SEBI (LODR) Regulation, 2015, a Vigil Mechanism for directors
and employees to report genuine concerns has been established. The Vigil Mechanism Policy
is available on the website of the Company at https://www.smvdpolypack.com/corporate-policies.

27. Corporate Social Responsibility (CSR Policy)



Pursuant to the provisions of Section 135 of the Companies Act, 2013 it may be noted
that the CSR provisions as specified therein were not applicable on the Company during the
year under review.

28. Management Discussion and Analysis Report



In compliance with Regulation 34(3) of Listing Regulations, a separate section on
Management Discussion and Analysis which includes details on the state of affairs of the
Company is annexed as Annexure -D.

29. Disclosure of Information under Clause 5A of Para A of Part A of Schedule III of
SEBI(LODR) Regulations, 2015.



In reference to the newly inserted Clause of the aforesaid Regulations it may be noted
that as on date there are no such agreements existing or entered into by the parties
enlisted therein where the

listed entity i.e .SMVD is a party or is not a party and which directly or indirectly
or potentially or whose purpose is to impact the management or control of the Company or
impose any restriction or create any liability upon the Company.

The Company has only entered into agreements in the normal course of Business with the
appropriate approval of the Concerned authorities wherever required and none of their
impact is to effect the management or control of the Company.

30. Conservation of Energy & Technology Absorption



Information pursuant to Section 134 (3) (m) of the Companies Act, 2013 read with Rule 8
of the Companies (Accounts) Rules, 2014 are given is annexed as Annexure - A which forms
part of this report.

31. Foreign Exchange Earning & Outflow



Foreign Exchange Earning: Nil

Foreign Exchange Outgo: Nil

32. Compliance with Secretarial Standards and other applicable laws



Your Company often strives to comply not only with all applicable Secretarial Standards
issued by the Institute of Company Secretaries of India (ICSI) but also with all the other
applicable laws on the Company implemented under various statutes to the extent possible.

33. Industrial Relations



The industrial relation during the FY 2022-23 were more or less cordial. The Directors
took on record the dedicated services and significant efforts made by the Officers, Staff
and Workers towards the progress of the Company.

34. Disclosure under the Sexual Harassment of Women at workplace (Prevention,
Prohibition and Redressal) Act, 2013



The Company has in place the policy on prevention and redressal of sexual harassment at
the workplace. Pursuant to the provisions of the Sexual Harassment of Women at the
Workplace (Prevention, Prohibition and Redressal) Act, 2013, the Company also has an
Internal Complaints Committee for prevention and redressal of complaints of sexual
harassment of women at the workplace. No complaints were received by the Company during
the year under review.

35. Significant & material orders passed by the Regulators or Courts or
Tribunals impacting the going concern status & Company's Operations in Future



There have been no significant & material orders passed by regulators / courts /
tribunals impacting going concern status and Company's operations in future.

36. Details of Material Changes and Commitments occurred during the year affecting
the financial position of the Company.



There were no such changes during the period under review effecting the financial
position of the Company.

37. Details of application made or proceedings pending, if any under IBC, 2016



It may be noted that neither any application was made nor any proceedings are pending
under the Insolvency and Bankruptcy Code, 2016 during the year under review.

38. Disclosure of material accident that took place at the works premises of the
Company on 29th July, 2023.



In furtherance to all the Intimations made via Stock Exchange it is to bring to the
notice of all the shareholders of the Company that a massive fire broke out at the works
premises of the Company at night on 29th July, 2023 which took the whole of the
establishment under its control within a very short time. On account of the fire control
step up established thereat no casualties were reported but the plant/factory of the
Company was completely destroyed by the said fire. Moreover it may also be noted that the
factory/plant was fully insured including the factory shed, Machineries both moveable and
fixed, inventories etc.. The event was reported by the Company to the concerned Insurance
Company, Stock Exchange and all other regulatory authorities and wherever required.

It may also be noted that the Company has got its Claim registered with the Insurance
Company under Claim no - 310012/11/2024/00030060, the Insurance Proceedings are going on
in order to recover the claim at the earliest possible.


Acknowledgement


Your Directors would like to express their grateful appreciation for the assistance and
co-operation received from the Financial Institutions, Banks, Government Authorities and
Shareholders during the year under review. Your Directors wish to place on record their
deep sense of appreciation to all the employees for their commendable teamwork, exemplary
professionalism and enthusiastic contribution during the year.

On behalf of the Board of Directors, For SMVD Polypack Limited

Registered office:

16, StrandRoad,

Diamond Heritage,

8th Floor, Suite No. - 804B, Kolkata -700 001.

Date: 24th August, 2023


  

    
Pramod Kumar Agarwal
    
Sangita Agarwal
  
  

    
Chairman & MD
    
Director
  
  

    
DIN:00324999
    
DIN:02860390