Dear Members,
Your Directors are pleased to present the 86th Annual Report of the Company and the
audited Financial Statements for the financial year ended 31st March, 2025. The PDF
version of the Report is also available on the Company's website at www.
albertdavidindia.com/annualreport.php.
SUMMARY OF FINANCIALS OF THE COMPANY: ( in Lakhs)
Particulars |
FY 2024-25 |
FY 2023-24 |
| Revenue from operations |
34,576.79 |
36,246.17 |
| Other Income |
2,958.08 |
5,755.21 |
Total income |
37,534.87 |
42,001.38 |
| Earnings before Interest, Depreciation, Tax & Amortization |
3,260.70 |
10,443.15 |
| Finance Costs |
41.04 |
32.12 |
| Gross Profit (EBDTA) |
3,219.66 |
10,411.03 |
| Depreciation and Amortization |
696.89 |
682.52 |
Profit before Tax (PBT) |
2,522.77 |
9,728.53 |
| Tax expense |
802.69 |
2,186.52 |
Profit for the year (PAT) |
1720.08 |
7,542.01 |
| Other Comprehensive Income |
(113.50) |
112.45 |
| Total Comprehensive Income for the year |
1606.58 |
7,654.46 |
Retained Earnings – Opening Balance |
23,876.85 |
16,552.87 |
| Profit for the year |
1720.08 |
7,542.01 |
| Dividend paid on Equity Shares during the year |
(656.32) |
(513.64) |
Realised Gain on sale of Equity Instrument transferred to Retained
Earnings (Net of taxes) |
50.22 |
259.45 |
Remeasurement of defined benefit obligation transferred to Retained
Earnings (Net of taxes) |
(81.52) |
36.16 |
Total Retained Earnings |
24,909.31 |
23,876.85 |
The Company has prepared the Financial Statements in accordance with the Companies
(Indian Accounting Standards) Rules, 2015 prescribed under Section 133 of the Companies
Act, 2013 (the "Act").
PERFORMANCE DURING THE YEAR & STATE OF THE COMPANY'S AFFAIRS:
We registered annual Revenue from Operations of 345.77 Crores in FY 2025 compared to
362.46 Crores in FY 2024. Profit Before Tax for FY 2025 stood at 25.23 Crore compared to
97.29 Crores from FY 2024. In FY 2025, ADL invested in strengthening the field force of
the company for future growth. The investment made in manpower and other marketing related
expenses will bear fruit in future. We are confident that the company will grow from
strength to strength in the days to come, ensuring that we continue to remain a highly
profitable, compliant and socially responsible company.
Some of the highlights of the operations for the year are:
• Revenue from operations for the year was 345.77 Crores in FY 2025 compared to
362.46 Crores in FY 2024.
• Profit Before Tax for FY 2025 stood at 25.23 Crores compared to 97.29 Crores
from FY 2024
• Tax Provision for the current year amounted to 802.69 Lakhs for FY 2025 as
against a tax provision of 2,186.52 Lakhs for FY 2024.
• Profit after Tax (PAT) stood 1720.08 lakhs for FY 2025 as against a PAT of
7,542.01 Lakhs for FY 2024.
• Earnings Per Equity Share of par value of 10/- each works out to 30.14/- for
FY 2025 as against 132.15/- for FY 2024.
Your Directors are also striving to achieve further growth in sales and better
financial performance in the forthcoming years.
DIVIDEND:
Your Directors are pleased to recommend a dividend of 5.00 per equity share of 10/-
each, i.e. 50% for the FY ended March 31, 2025, subject to approval of members at the 86th
Annual General Meeting. The Dividend, if approved by the members at the ensuing Annual
General Meeting, will be paid to all those equity shareholders of the Company whose names
appear in the Register of Members and/or Register of Beneficial Owners as on the record
date and will result into a cash outflow of 285.36 Lakhs.
RESERVES:
During the year under review, no amount was transferred to any of the reserves by the
Company.
MATERIAL CHANGES AFFECTING THE COMPANY:
There have been no material changes and commitments in the business operations of the
Company affecting the financial position, which has occurred between the end of the
financial year of the Company to which the financial statements relate and the date of
this report.
DETAILS IN RESPECT OF ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO THE
FINANCIAL STATEMENTS:
The Company has a system of Internal Audit to take care of the Internal Control
systems, effectiveness of its functioning and the workflow of the organization in terms of
the approved policies of the Company. Every quarter, the Internal Auditors present their
Internal Audit Report along with management's comments and action taken reports thereon
before the Audit Committee of the Company; Your Board has adopted various policies,
related to Related Party Transactions, Whistle Blower Mechanism and other procedures for
ensuring the orderly and efficient conduct of business. The Company's system of Internal
Control has been designed to provide a reasonable assurance with regard to the maintenance
of proper accounting controls, monitoring of operations, safeguarding of its assets, the
prevention and detection of frauds and errors, the accuracy and completeness of the
accounting records and timely preparation of reliable financial information.
The Company has ERP suite for a reliable, high-end, comprehensive, disciplined and
integrated business solution. The Company is complying with all the applicable
Indian Accounting Standards (Ind AS).The accounting records are maintained in accordance
with generally accepted accounting principles in India. This ensures that the financial
statements reflect the true and fair financial position of the Company.
DEPOSITS:
During the year under review, your Company has neither accepted/renewed any deposits
nor has any outstanding Deposits in terms of Section 73 - 76 of the Companies Act, 2013
read with Companies (Acceptance of Deposits) Rules, 2014.
AUDITORS & THEIR REPORTS: STATUTORY AUDITORS:
M/s. L. B. Jha & Co., Chartered Accountants (ICAI Firm Registration No. 301088E),
Kolkata, were appointed as the Statutory Auditor of the Company at the 83rd Annual General
Meeting held on August 9, 2022 to hold office from the conclusion of the said meeting till
the conclusion of the 88th Annual General Meeting to be held in the year 2027.
They have confirmed that they are not disqualified from continuing as Statutory
Auditors of the Company. The Report given by the Statutory Auditors on the Company's
financial statements is enclosed with this Report.
The Statutory Auditors had not reported any fraud under Section 143(12) of the
Companies Act, 2013, therefore no detail in the said regard is required to be disclosed
under Section 134(3)(ca) of the Companies Act, 2013.
The Notes on financial statements referred to in the Auditors' Report are
self-explanatory and does not call for any further comment. The Auditors' Report does not
contain any qualification, reservation, adverse remark or disclaimer.
SECRETARIAL AUDITOR:
Pursuant to the provisions of Section 204 & 134(3) of the Companies Act, 2013 read
with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014
framed thereunder, the Board had appointed M/s. Vinod Kothari & Co., Practicing
Company Secretaries (FRN: P1996WB042300), Kolkata, to undertake Secretarial Audit of the
Company for the financial year ended March 31, 2025 and their Report in the prescribed
Form MR - 3 is attached as "Annexure - 1" to this Report. The Secretarial
Audit Report for F.Y 2024-25 does not contain any qualification, reservation or adverse
remark except "there has been some gaps in filing of forms with ROC and the company
is in the process of filing the same". Your company will regularize such gaps. The
Company is in compliance with the Secretarial Standards, specified by the Institute of
Company Secretaries of India.
Further, Pursuant to the provisions of Section 204 & 134(3) of the Companies Act,
2013 read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules,
2014 framed thereunder, the Board had appointed M/s. MKB & Associates, Company
Secretaries in practice, FRN: P2010WB042700, as the Secretarial Auditors of the Company
for a period of 5 years i.e., FY 2025-26 to FY 2029-30, subject to approval of
shareholders at 86th Annual General Meeting
COST AUDITOR:
In accordance with the provisions of Section 148 of the Companies Act, 2013 and the
Companies (Cost Records and Audit) Rules, 2014, the Company is required to appoint a Cost
Auditor to audit the cost records relating to the business of manufacturing of Bulk Drugs
and Formulations of the Company. Accordingly, the Board on the recommendation of the Audit
Committee had approved the re- appointment of M/s. S. Gupta & Co., Kolkata, Cost &
Management Accountants (Firm Registration No. 000020) as Cost Auditors for auditing the
cost records of the Company for the financial year ended March 31, 2026.
Pursuant to the provisions of Section 148 of the Companies Act, 2013 read with Rule 14
of the Companies (Audit and Auditor) Rules, 2014 framed thereunder, the remuneration
payable to M/s. S. Gupta & Co. as Cost Auditors for the financial year 2025-26 is
required to be ratified by the Members of the Company and accordingly, a resolution for
the same is being placed before the Members at the 86th Annual General Meeting of the
Company for their approval.
Cost records required to be maintained by the company pursuant to the order of the
central government are maintained by the Company.
No fraud has been reported by the Cost Auditors of the Company.
SHARE CAPITAL:
The equity shares of your Company continue to be listed and traded on the BSE Limited
and National Stock Exchange of India Limited. During the year under review, the Company
has not issued shares with differential voting rights or granted any stock options or
issued any sweat equity or issued any Bonus Shares. Further, the Company has not bought
back any of its securities during the period under review.
ANNUAL RETURN:
The annual return of the company as on March 31, 2025, in terms of the provisions of
Section 134(3)(a) of the Act, has been made available on the company's website https://
https://www.albertdavidindia.com/annualreturn.php
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO:
The details with respect to conservation of energy, technology absorption, foreign
exchange earnings and outgo pursuant to Section 134(3)(m) of the Companies Act, 2013 read
with Rule 8(3) of the Companies (Accounts) Rules, 2014 framed thereunder, is attached as "Annexure-
2" to this Report.
CORPORATE SOCIAL RESPONSIBILITY (CSR) ACTIVITY:
In compliance with the requirements of Section 135 of the Act, the Company has laid
down a CSR Policy. The composition of the Committee, contents of CSR Policy and report on
CSR activities carried out during the financial year ended 31st March, 2025 in the format
prescribed under the Companies (Corporate Social Responsibility Policy) Rules, 2014 is
annexed herewith as "Annexure 3". The CSR policy is available on the
Company's website: https://www.albertdavidindia.com/ policies.php.
Mr. Shirish Gundopant Belapure resigned from CSR Committee w.e.f. 10.03.2025 due to his
resignation from Directorship of company w.e.f 10.03.2025 due to his increasing
professional commitments.
DIRECTORS AND KEY MANAGERIAL PERSONNEL:
The constitution of the Board of the Company is in accordance with Section 149 of the
Company Act, 2013 and Regulation 17 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, as amended.
Directors
As on March 31, 2025, The Board of Directors of your Company comprised of 1 Promoter
Executive Director, 2 Promoter Non-Executive Directors, 1 Non-Promoter Executive-Director
and 4 Non-Executive Independent Directors (till end of 31st March, 2025) including 1 Woman
Director. Brief profiles of all Directors of company are available on your company's
website at https://www.albertdavidindia.com/bod.php.
During the F.Y 2024-25, following changes were effected in Board of Directors of the
company:-
Mr. Anurag Singhi (DIN: 01807541) has been appointed as a Non-Executive Independent
Director of the Company for a period of 5(five) years from 1st April, 2024 to 31st March,
2029, not liable to retire by rotation.
Mr. Naresh Pachisia (DIN: 00233768) has been appointed as a Non-Executive Independent
Director of the Company for a period of 5(five) years from 14th November, 2024 to 13th
November, 2029, not liable to retire by rotation. Mr. Shirish Gundopant Belapure (DIN:
02219458), a Non-Executive Independent Director of the Company, resigned from the board of
the Company w.e.f 10th March 2025 due to his increasing professional commitments.
On the basis of the written representation received from the Directors, none of the
Directors of the Company are disqualified / debarred to act as Director under the
provisions of Section 164(2) of the Companies Act, 2013, Rule 14(1) of the Companies
(Appointment and Qualifications of Directors) Rules, 2014 and by virtue of any Order of
the Ministry of Corporate Affairs, the SEBI or any other Authority.
Declaration by Independent Directors
In terms of Section 149, 152 read with Schedule IV and other applicable provisions of
the Companies Act, 2013 and the Companies (Appointment and Qualifications of Directors)
Rules, 2014 (including any statutory modifications or re-enactment thereof for the time
being in force), the Independent Directors are appointed for a term of five years and are
not liable to retire by rotation.
As required under Section 149(7) of the Act, all the Independent Directors of the
Company have given declarations that they meet the criteria of independence as laid down
in section 149(6) of the Act and Regulation 16(1)(b) and Regulation 25 of Listing
Regulations. There has been no change in the circumstances affecting their status as
Independent Directors of the Company.
The Independent Directors have confirmed that they have complied with the Company's
Code of Conduct. They have registered their names in the Independent Directors' Databank.
In the opinion of the Board, they fulfil the conditions of independence as specified in
the Act and the SEBI Listing Regulations and are independent of the management. Further,
the Board is also of the opinion that all the Independent Directors of the Company are
persons of integrity and possess relevant expertise and experience to act as Independent
Directors of the Company.
Familiarization Program undertaken for Independent Director
The Independent Directors are familiarized with the Company, enlightening them of their
role, responsibilities and rights, nature of the industry in which the Company operates,
business model of the Company etc. as required under Regulation 25(7) of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015. On appointment, the
Independent Director is issued a formal Letter of Appointment setting out in detail, the
terms of appointment, duties, responsibilities and expected time commitments. Each newly
appointed Independent Director undergoes a formal induction program covering the Company's
operations, marketing, finance and other important aspects. The Company Secretary briefs
the Independent Director about their legal and regulatory responsibilities as such
Director. They are also explained in detail, the various compliances required from them
under the various provisions of the Companies Act, 2013, the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, the SEBI (Prohibition of Insider Trading)
Regulations, 2015, the Code(s) of Conduct framed by the Company and other relevant/
applicable regulations. The details of familiarization program imparted to Independent
Directors of the Company are available on the Company's website at
https://www.albertdavidindia. com/policies.php
Key Managerial Personnel
Mr. Arun Kumar Kothari, Executive Chairman, Mr. Umesh Manohar Kunte, Managing Director
& CEO, Mr. Ranadeep Bhattacharya, Chief Financial Officer and Mr. Lalit Lohia, Company
Secretary & Compliance Officer of the Company are the whole-time Key Managerial
Personnel of the Company in terms of section 2(51) and Section 203 of the Companies Act,
2013, as on the date of this report.
Changes in Key Managerial Personnel during the year
The Board has appointed Mr. Lalit Lohia (ACS-23995) as a Company Secretary &
Compliance officer of the Company w.e.f 12th August, 2024 in place of Mr. Abhishek Seth
(ACS-39671) who resigned w.e.f 2nd June, 2024.
ANNUAL EVALUATION OF THE BOARD, ITS COMMITTEES, AND INDIVIDUAL DIRECTORS:
The Company has devised a Policy for performance evaluation of Independent Directors,
Board Committees, the Chairman and other individual Directors which includes criteria for
performance evaluation of the Non- Executive Directors and Executive Directors. On the
basis of Policy approved by the Board for performance evaluation of Independent Directors,
Board Committees and other individual Directors, a process of evaluation was followed by
the Board for its own performance and that of its Committees and individual Directors
through a structured questionnaire which provides valuable feedback for contribution to
the Board, improving Board effectiveness, maximising strengths and highlighting areas for
further improvement etc.
In a separate meeting of the Independent Directors, performance of the Chairperson,
Non-Independent Directors, the Committees and the Board as a whole was evaluated taking
into account the views of the Non- Independent Directors and the same was discussed in the
NRC and Board Meeting.
Performance evaluation of Independent Directors is done by the entire Board of
Directors (excluding the Directors being evaluated) The Directors expressed their
satisfaction over the evaluation process and the results thereof.
NUMBER OF MEETINGS OF THE BOARD OF DIRECTORS:
During the year, 4 (four) meetings of Board of Directors were held on 13th May, 2024,
9th August 2024, 14th November, 2024 and 12th February, 2025. The details of the Board
Meetings with regard to their dates and attendance of each of the Directors thereat have
been provided in the Corporate Governance Report.
MEETING OF INDEPENDENT DIRECTORS:
During the year under review, a separate meeting of the Independent Directors of the
Company was held on 12th February, 2025, wherein the performance of the Non- Independent
Directors and the Board as a whole was evaluated. The Independent Directors at their
meeting also assessed the quality, quantity and timeliness of flow of information between
the Company's management and the Board of Directors.
COMMITTEES OF THE BOARD:
The Company has constituted various Board level committees in accordance with the
requirements of Companies Act 2013 and the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, viz.: Audit Committee Nomination and
Remuneration Committee Stakeholders' Relationship/Grievance Committee Corporate
Social Responsibility Committee Details of all the above Committees along with their
composition, terms of reference and meetings held during the year under review etc. are
provided in the Report on Corporate Governance forming part of Annual Report and the same
is also available on our company's website at https://www.albertdavidindia.com/cod.php.
POLICY ON DIRECTORS' APPOINTMENT AND REMUNERATION:
The Company has a Nomination and Remuneration Policy pursuant to Section 178 of the
Companies Act, 2013 envisaging therein, inter-alia, the Company' policy on appointment and
remuneration of Directors, Key Managerial Personnel and Senior Management Personnel. The
said Policy is attached as "Annexure-4" to this Report and may also be
accessed at the Company's website at https://www.albertdavidindia.com/policies.php.
WHISTLE BLOWER POLICY/VIGIL MECHANISM:
The Company has established an effective Whistle Blower Policy pursuant to the
Companies Act, 2013. The said policy may be referred to at the Company's website at
https://www.albertdavidindia.com/policies.php.
The Whistle Blower Policy aims at ensuring conduct of the affairs of the Company in a
fair and transparent manner by adopting the highest standards of professionalism, honesty,
integrity and ethical behavior.
A mechanism has been established for employees to report unethical behavior, actual or
suspected fraud or violation of the Code of Conduct and ethics directly to the forum. It
also provides for adequate safeguards against victimization of employees who avail the
mechanism and allows direct access to the Chairman of the Audit Committee in exceptional
cases.
DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORK PLACE (PREVENTION, PROHIBITION
AND REDRESSAL) ACT, 2013:
The Company is committed to providing a safe and conducive work environment to all its
employees and associates. The Company has policy on Prevention of Sexual Harassment at
Workplace in place. All employees, consultants, trainees, MRs, volunteers, third parties
and/ or visitors at all business units or functions of the Company, are covered by the
said policy. Adequate workshops and awareness programmes against sexual harassment are
conducted across the organisation. The Company has constituted an Internal Complaints
Committee in compliance with the provisions of the Sexual Harassment of Women at Workplace
(Prevention, Prohibition and Redressal) Act, 2013 and is fully compliant of the Committee
composition requirements. No complaint of sexual harassment was received during the
financial year 2024-2025. No complaints were pending as at the end of the financial year
2024-2025.
PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS :
Details of loans given, investments made or guarantees given or security provided, if
any, as per the provisions of Section 186 of the Act and Regulation 34(3) read with
Schedule V of the SEBI Listing Regulations are given in the notes No. 62 forming part of
the financial statements provided in this Annual Report.
PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:
There are no materially significant related party transactions made by the Company with
related parties which may have potential conflict of interest with the Company at large.
As a matter of policy, your Company carries out transactions with related parties on an
arms' length basis. Statement of these transactions is given at Notes to financial
statements. Accordingly, particulars of contracts or arrangements with related parties
referred to in Section 188(1) along with the justification for entering into such contract
or arrangement in Form AOC-2 does not form part of this report. The Policy on Materiality
of Related Party Transactions and on dealing with Related Party Transactions as approved
by the Board is available on the Company's website and can be accessed at
https://www.albertdavidindia.com/policies.php. The Audit Committee reviews all related
party transactions on quarterly basis.
PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES:
Disclosures 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 herewith as
"Annexure-5".
In accordance with the provisions of Rule 5(2) of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014, the names and particulars of the top
ten employees in terms of remuneration drawn and of the aforementioned employees form part
of the Directors'/ Board's Report as an annexure. However, in terms of the provisions of
Section 136(1) of the Companies Act, 2013 read with the rule, the Directors'/ Board's
Report is being sent to all shareholders/ members of the Company excluding the same. The
said information is available for inspection at the registered office of the Company
during the working hours. Any shareholder/ member interested in obtaining a copy of the
annexure may write to the Company Secretary & Compliance Officer either at the
registered office address or by email to adlcorp. secretary@adlindia.in.
CORPORATE GOVERNANCE AND MANAGEMENT DISCUSSION & ANALYSIS:
Corporate Governance Report and Management Discussion and Analysis along with the
Independent Auditor's Compliance Certificate and Certificate on non-disqualification of
directors in compliance with SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 forms part of this Directors Report and also forms part
of the Annual Report for F.Y 2024-25.
RISKS & MITIGATING STEPS:
The Company has adopted and implemented a Risk Management Policy after identifying
various risk factors which the Company encounters in the course of its business.
Appropriate structures are present so that risks are inherently monitored and controlled
inter-alia through strict risk mitigating measures. In the opinion of the Board, none of
the risks faced by the Company threaten the existence of the Company. Financial risks, the
Company is exposed to, are described in the appropriate notes to the financial statements.
The Company has adequate internal control system and procedures for minimization of
risks. The risk management procedure is reviewed by the Audit Committee and Board of
Directors on a quarterly basis at the time of review of quarterly financial results of the
Company.
DIRECTORS' RESPONSIBILITY STATEMENT:
Pursuant to clause (c) of sub-section (3) and sub-section (5) of Section 134, of the
Companies Act, 2013, the Board of Directors of the Company hereby state and confirm that:
i) in the preparation of the annual accounts for the year ended March 31, 2025, the
applicable accounting standards had been followed along with proper explanation relating
to material departures, if any; ii) the Directors had selected such accounting policies
and applied them consistently and made judgments and estimates that are reasonable and
prudent so as to give a true and fair view of the state of affairs of the Company at the
end of the financial year ended on March 31, 2025 and of the profit of the Company for
that period ; iii) the Directors had taken proper and sufficient care for the maintenance
of adequate accounting records for the year ended March 31, 2025 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 Directors had prepared the annual
accounts on a ‘going concern basis'; v) the Directors had laid down internal
financial controls to be followed by the Company and that such internal financial controls
are adequate and were operating effectively; and vi) the Directors had devised proper
systems to ensure compliance with the provisions of all applicable laws and that such
systems were adequate and operating effectively.
TRANSFER TO INVESTOR EDUCATION AND PROTECTION FUND (IEPF):
Pursuant to the provisions of the Act, read with IEPF Authority (Accounting, Audit,
Transfer and Refund) Rules, 2016, as amended, declared dividends which remained unpaid or
unclaimed for a period of seven years have been transferred by the Company to the IEPF
established by the Central Government.
The above Rules also mandate transfer of underlying shares on which dividends are lying
unpaid and unclaimed for a period of seven consecutive years to IEPF through corporate
action.
Your Company has sent individual notices and also advertised in the newspapers seeking
action from the Members who have not claimed their dividends for seven consecutive years.
Thereafter, the Company shall transfer such unpaid or unclaimed dividends and
corresponding equity shares of the Company for the financial year ended March 31, 2018, to
the IEPF Authority.
Members/claimants whose shares or unclaimed dividends have been transferred to the IEPF
Authority's Demat Account or the Fund, as the case may be, may claim such shares or apply
for refund of such dividends, by making an application to the IEPF Authority in Form
IEPF-5 available at http://www.iepf.gov.in along with requisite fee, if any, as may be
decided by the IEPF Authority from time to time. The Member/claimant can file only one
consolidated claim in a financial year as per the IEPF Rules.
Members, therefore, are requested to immediately claim their dividends (and shares
referred above), before they are transferred by the Company to the IEPF Authority. Details
of shares/shareholders in respect of which dividend has not been claimed are available on
the Company's website at http://albertdavidindia.com/undividend.php. Members are hereby
advised to verify their records and claim their dividends in respect of all the earlier
seven years, if not already claimed.
The Company has appointed Mr. Lalit Lohia, Company Secretary of the Company as the
Nodal Officer for the purpose of IEPF w.e.f 12th August, 2024.
COMPLIANCE WITH SECRETARIAL STANDARDS ON BOARD AND GENERAL MEETINGS:
During the year under review, the Company has endeavoured to comply with the applicable
Secretarial Standards to the extent applicable.
Disclosure requirements for certain types of agreements binding listed entities under
Regulation 30A(2) of Listing Regulations:
There are no agreements entered into by the shareholders, promoters, promoter group
entities, related parties, directors, key managerial personnel, employees of the listed
entity or of its holding, subsidiary or associate company, among themselves or with the
listed entity or with a third party, solely or jointly, which, either directly or
indirectly or potentially or whose purpose and effect is to, impact the management or
control of the listed entity or impose any restriction or create any liability upon the
listed entity as on the date of notification of clause 5A to Para A of Part A of Schedule
III of Listing Regulations.
GENERAL DISCLOSURES:
Your Directors state that no disclosure or reporting is required in respect of the
following items as there were no transactions on these items during the year under review:
1. Issue of Equity Shares with differential rights as to dividend, voting or otherwise;
2. Issue of Equity Shares (including Sweat Equity Shares) to employees of your Company,
under any scheme;
3. Your Company has not resorted to any buy back of its Equity Shares during the year
under review;
4. Your Company does not have any subsidiary/ joint ventures/ associate companies;
5. No significant or material orders were passed by the Regulators or Courts or
Tribunals which impact the ‘going concern'status and your Company's operations in
future;
6. During the year, there has been no change in the nature of the business of the
Company;
7. No proceedings are pending against the Company under the Insolvency and Bankruptcy
Code, 2016;
8. There has been no instance where the board has not accepted any of the
recommendations of the Audit Committee;
9. No One time settlements with Banks or Financial Institutions were entered during the
year.
INDUSTRIAL RELATIONSHIP
Emphasis has been laid on cultivation of healthy human relationship in and outside the
Company with prevalence of excellent industrial relationship in all units of the Company,
Manufacturing units, Sales Offices, Depots and Corporate Office.
ACKNOWLEDGMENT:
The Board sincerely places on record the support given by Medical Profession, Trade,
Shareholders, Company's Bankers and Stockists, Central and State Government Authorities,
Stock Exchanges, CDSL, NSDL and all other Business Associates for the growth of the
organization. The Board further expresses its appreciation for the services rendered by
the Executives, Officers, Staffs and Workers of the Company at all levels.
For and on behalf of the Board of Directors
Sd/- |
A. K. Kothari |
Executive Chairman |
| (DIN: 00051900) |
Registered Office : |
| ‘D' Block, 3rd Floor, Gillander House, |
| 8, Netaji Subhas Road, Kolkata - 700 001. |
| CIN: L51109WB1938PLC009490 |
| Dated: 13th May, 2025 |
| Place: Kolkata |