Gujarat Alkalies and Chemicals Limited (Promoted by Govt
Total Page:16
File Type:pdf, Size:1020Kb
⑧ Gujarat Alkalies and Chemicals Limited (Promoted by Govt. of Gujarat) 扇色 Regd. Oflice & Works : P 0. Petrochemicals - 391 346, Dist. Vadodara (GuIarat) INDIA Phone 】 +91-265-2232681,3061200,6540463 Fax: +91-265-2232130 Website : www.gacl.com CIN NO: L24110GJ1973PLC002247 Promoting Green Technology Ref. : SECISEI2O19I 30th August, 2019 The General Manager The General Manager Corporate Relations Department Listing Department BSE Ltd. National Stock Exchange of India Ltd 1st Floor, New Trading Ring "Exchange Plaza", C-i, Block 'G' Phiroze Jeejeebhoy Towers Bandra-Kurla Complex Dalal Street Bandra (East) MUMBAI 】 400 001 MUMBAI : 400 051 Company Code No. : 530001 Company Code No. : GUJALKALI Dear Sir I Madam, Sub. : 46th Annual Report for the Financial Year 2018-19 together with the Notice of 46th Annual General Meeting of the Company scheduled to be held on 27th September, 2019. We submit herewith the 46th Annual Report of the Company for the Financial Year 2018-19 together with the Notice of 46th Annual General Meeting of the Company scheduled to be held on Friday, the 27th September, 2019 at 11:00 am in the premises of the Company at P.O Petrochemicals: 391 346, Dist.: Vadodara The said Annual Report together with the Notice is also available on the website of the Company at www.gacl.com The same is being dispatched to the shareholders of the Company, soft copy by e- mail and physical copy by courier to those shareholders whose e-mail address is not available or who have requested for physical copy This is for your information and record Thanking you, You r'a町u収ソ For ARA工 ALKALIES AND CHEMICALS LIMITED / (SS'' ) COMP' Y, ECRETARY& GE' RAL ' NAGER(LEGAL&CC) EndI, as above 'soAN ぎ ~ Dahe j Complex 」 PO. Dahej ー 392130, TaL Vagra, Dis Bharuch (Gujarat) INDIA I rnone 】 +S1-b41-aoj1af of I, tax 】+Sl て0" ト乙コOZ乙U Gujarat Alkalies and Chemicals Limited BOARD OF DIRECTORS (AS ON 09.08.2019) Dr. J N Singh, IAS..............Chairman Dr. Rajiv I Modi.....Independent Director Shri Arvind Agarwal, IAS Shri Rajiv Lochan Jain.....Independent Director Shri M K Das, IAS Smt. Vasuben Trivedi....Independent Director Shri J N Godbole...Independent Director Shri S B Dangayach....Independent Director (upto 30.05.2019) (from 09.08.2019) Shri P K Gera, IAS.....Managing Director COMPANY SECRETARY CHIEF FINANCIAL OFFICER Shri Sanjay S. Bhatt Dr. H. B. Patel (upto 31.05.2019) Shri Vinayak Kudtarkar (from 01.06.2019) AUDITORS COST AUDITORS BANKERS Messrs Deloitte Haskins & Sells Messrs R K Patel & Co. State Bank of India Chartered Accountants Cost Accountants in Practice IDBI Bank Ltd. Vadodara Vadodara HDFC Bank Ltd. Central Bank of India SECRETARIAL AUDITORS AXIS Bank Ltd. Messrs Samdani Shah & Kabra UCO Bank Company Secretaries in Practice Indian Bank Vadodara CIN : L24110GJ1973PLC002247 REGISTERED OFFICE : VADODARA COMPLEX AND COELHO COMPLEX : DAHEJ COMPLEX : P.O. : Petrochemicals - 391 346 Village : Dahej - 392 130 Dist. : Vadodara Tal. : Vagra, Dist. : Bharuch GUJARAT (INDIA) GUJARAT (INDIA) Phone : (0265) - 2232681-82/2232981-82/2232701 Phone : (02641) - 256315-16-17/256235 Company’s Website : www.gacl.com REGISTRAR & SHARE TRANSFER AGENT: Link Intime India Pvt. Ltd. (Unit : GACL) B-102 & 103, Shangrila Complex, First Floor, Opp. HDFC Bank, Near Radhakrishna Char Rasta, Akota Vadodara : 390 020, GUJARAT (INDIA) Phone : (0265) - 2356573 E-mail : [email protected] 1 46th Annual Report 2018-19 Vision 46th Annual General Meeting To continue to be identified and recognized as a dynamic, modern and eco-friendly chemical company with enduring ethics and values. Date : 27th September, 2019 Mission Day : Friday • To manage our business responsibly and sensitively, in order to Time : 11:00 a.m. address the needs of our customers and stakeholders. • To strive for continuous improvement in performance, measuring Place results precisely and ensuring GACL’s growth and profitability through innovations. In the premises of the Company at P.O. : Petrochemicals : 391 346 • To demand from ourselves and others the highest ethical standards Dist. : Vadodara and to ensure products and processes to be of the highest quality. CONTENTS Particulars Page No. Particulars Page No. Notice ...............................................................................03 Stand- Conso- E-Voting Instructions .........................................................07 alone lidated Board’s Report ..................................................................13 Notes : Management Discussion and Analysis .............................53 10. Other Assets 119 ............ 175 Product Flow Chart ...........................................................64 11. Inventories 120 ............ 176 Standalone Financial Highlights of Ten Years ...................66 12. Trade Receivables 120 ............ 176 Corporate Governance Report .........................................67 13. Cash and Cash Equivalents 122 ............ 178 General Information for Members .....................................86 14. Other Balances with Banks 122 ............ 178 Certificate by CEO & CFO ................................................92 15. Share Capital 123 ............ 179 Stand- Conso- 16. Other Equity 124 ............ 180 alone lidated 17. Borrowings 124 ............ 180 Independent Auditors’ Report 93 ............ 150 18. Provisions 125 ............ 181 Balance Sheet 100 ............ 156 19. Deferred Tax Liabilities (Net) 126 ............ 182 Statement of Profit and Loss 102 ............ 158 20. Trade Payables 126 ............ 182 Cash Flow Statement 103 ............ 159 21. Other Financial Liabilities 127 ............ 183 Notes : 22. Other Current Liabilities 128 ............ 183 01. General Information 106 ............ 162 23. Revenue from Operations 128 ............ 184 02. Significant Accounting Policies 106 ............ 162 24. Other Income 129 ............ 185 03. Property, Plant and Equipment 113 ............ 169 25. Cost of Materials Consumed 129 ............ 185 and Capital Work-in-Progress 26. Changes in Inventories of Finished 130 ............ 186 04. Other Intangible Assets and 115 ............ 171 Goods, Work-in-progress & Stock-in-trade Intangible Assets under Development 27. Employee Benefits Expense 130 ............ 186 05. Investment in Joint Venture 116 ............ 172 28. Finance Costs 130 ............ 186 06. Other Investments 117 ............ 173 29. Depreciation and Amortisation Expense 130 ............ 186 07. Loans 118 ............ 174 30. Power, Fuel & Other Utilities 131 ............ 187 08. Other Financial Assets 118 ............ 174 31. Other Expenses 131 ............ 187 09. Non-current Tax Assets (Net) & 118 ............ 174 32-50. Other Notes 132 ............ 188 Current Tax Liabilities (Net) 2 Gujarat Alkalies and Chemicals Limited NOTICE NOTICE IS HEREBY given that the Forty Sixth Annual by rotation, to hold office for a term of five (5) years, General Meeting of the Shareholders of GUJARAT ALKALIES effective from 9th August, 2019.” AND CHEMICALS LIMITED (GACL) will be held in the 6. To consider and if thought fit, to pass with or without premises of the Company at P.O. : Petrochemicals : 391 346, modification(s), the following Resolution as aSpecial th Dist. : Vadodara on Friday, the 27 September, 2019 at 11:00 Resolution : a.m. to transact the following Ordinary and Special Business : “RESOLVED THAT pursuant to the provisions of Sections ORDINARY BUSINESS : 149, 152, Schedule IV and other applicable provisions 1. To receive, consider and adopt the (i) Audited Standalone of the Companies Act, 2013 and the Rules made Financial Statements of the Company for the Financial thereunder (including any statutory modification(s) and/ Year ended 31st March, 2019; (ii) Audited Consolidated or re-enactment(s) thereof for the time being in force), Financial Statements of the Company for the Financial Dr. Rajiv I Modi, Director (DIN 01394558) who was Year ended 31st March, 2019; and the Reports of the appointed as an Independent Director by the Members Board of Directors and Auditors thereon. at the 42nd Annual General Meeting (AGM) held on 18th 2. To declare Dividend on Equity Shares for the Financial September, 2015 to hold office for the first term of five (5) st Year ended 31st March, 2019. years, effective from 1 October, 2014 and in respect of whom the Company has received a notice in writing from 3. To appoint a Director in place of Shri Arvind Agarwal, IAS a Member pursuant to Section 160 of the Companies Act, (DIN 00122921) who retires by rotation at this Meeting 2013 signifying the intention to propose the candidature and being eligible, offers himself for reappointment. of Dr. Rajiv I Modi for the office of Independent Director, 4. To consider and if thought fit, to pass with or without be and is hereby reappointed as an Independent Director modification(s), the following Resolution as anOrdinary of the Company, not liable to retire by rotation, to hold Resolution: office for the second term of five (5) years, effective from “RESOLVED THAT as per the provisions of Sections 139, 1st October, 2019.” 141, 142 and other applicable provisions, if any, of the 7. To consider and if thought fit, to pass with or without Companies Act, 2013 and the Rules made thereunder, modification(s), the following Resolution as anOrdinary M/s. K C Mehta & Co., Chartered Accountants, Vadodara, Resolution : (Firm Registration No. 106237W) be and are hereby “RESOLVED THAT pursuant to the provisions of Section appointed as the Statutory Auditors of the Company to 148 and all other