Dharamtar Port
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Dharamtar Port Contents Management Reports Financial Statements 4 Notice 24 Independent Auditors' report 8 Directors' Report 34 Standalone Balance Sheet 35 Standalone Statement of Profit and Loss 36 Standalone Statement of Changes in Equity 37 Standalone Statement of Cash Flow 39 Notes Forward-looking statement In this Annual Report, we have disclosed forward looking information to enable the investors to comprehend our prospects and take informed investment decisions. This report and other statements – written and oral – that we periodically make, contain forward- looking statements that set out anticipated results based on the management’s plans and assumptions. We have tried wherever possible to identify such statements by using words such as ‘anticipates’, ‘estimates’, ‘expects’, ‘projects’, ‘intends’, ‘plans’, ‘believes’ and words of similar substance in connection with any discussion of future performance. We cannot guarantee that these forward-looking statements will be realised, although we believe, we have been prudent in our assumptions. The achievement of results is subject to risks, uncertainties and inaccurate assumptions. Should known or unknown risks or uncertainties materialise, or should underlying assumptions prove inaccurate, our actual results could vary materially from those anticipated, estimated or projected. Readers should bear this in mind. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. FY20 Performance highlights Standalone J 19,385.78 LAKHS J 16,428.62 LAKHS GROSS TURNOVER NET TURNOVER J 10,521.61 LAKHS J5,572.28 LAKHS EBITDA PBT J7,800.97 LAKHS J4,976.19 LAKHS CASH PROFIT PAT CORPORATE INFORMATION Board of Directors MR. LALIT SINGHVI Non-Executive Director MR. RASHMI RANJAN PATRA Whole-Time Director MR. SUDIP MISHRA Non-Executive Director Chief Financial Officer MR. VIKRAM AGARWAL Company Secretary MS. VAIDEHI SAIL Statutory Auditors M/s. Shah Gupta & Co. Chartered Accountants Bankers Axis Bank Limited Yes Bank Limited Canara Bank RBL Bank Limited ICICI Bank Limited State Bank of India Registered Office JSW Centre, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051 Tel: +91 22 4286 1000 Fax : +91 22 4286 3000 E-mail: [email protected] www.jsw.in CIN: U93030MH2012PTC236083 Works Dharamtar Port Post: Dolvi Tal: Pen, Raigad - 402107 Maharashtra, India. MANAGEMENT REPORTS NOTICE Notice is hereby given that the Eighth Annual General No. 137533W, be and are hereby appointed as Meeting of the Shareholders of JSW Dharamtar Port the Statutory Auditors of the Company, to hold Private Limited will be held on Wednesday, 5th office from the conclusion of this 8th Annual August, 2020 at 10 a.m. at JSW Centre, Bandra Kurla General Meeting till the conclusion of the 13th Complex, Bandra (East), Mumbai - 400 051 to transact Annual General Meeting of the Company on such the following businesses: remuneration as shall be fixed by the Board of Directors of the Company.” Ordinary Business 1. To receive, consider and adopt the Audited Special Business Standalone Balance Sheet as at 31st March, 4. To consider and, if thought fit, to pass, with or 2020 and Standalone Statement of Profit and without modification(s), the following resolution Loss for the year ended on that date together as Ordinary Resolution: with the reports of the Board of Directors and “RESOLVED THAT pursuant to the provisions Auditors thereon. of Sections 196, 197, 198 and 203 read with 2. To appoint the Director in place of Mr. Sudip Schedule V of the Companies Act, 2013 and the Mishra (holding DIN: 03428213), who retires by Companies (Appointment and Remuneration of rotation and being eligible, offers himself for Managerial Personnel) Rules, 2014 (including re-appointment. any statutory modification(s) or re-enactment thereof, for the time being in force) consent of 3. To consider and, if thought fit, to pass the the members be and is hereby accorded for following Resolution as an Ordinary Resolution: the re-appointment of Mr. Rashmi Ranjan Patra “RESOLVED THAT pursuant to the provisions (DIN: 03014938) as a Whole-time Director of the of Sections 139, 140 and other applicable Company, not liable to retire by rotation, for a provisions, if any, of the Companies Act, 2013, period of five years with effect from 30th March and the Companies (Audit and Auditors) Rules, 2020 without remuneration and upon such 2014, including any statutory modification(s) or terms & conditions as agreed between Board of re-enactment thereof, M/s. HPVS & Associates, Directors and the Director.” Chartered Accountants, Mumbai, Firm Registration Registered Office By order of the Board of Directors JSW Centre, Bandra Kurla Complex, JSW Dharamtar Port Pvt. Ltd Bandra East, Mumbai 400 051 CIN: U93030MH2012PTC236083 Vaidehi Sail Place: Mumbai Company Secretary Dated: 13th July, 2020 (M No: 55899) NOTES: 1. The relative Explanatory Statement pursuant 2. A SHAREHOLDER ENTITLED TO ATTEND AND VOTE to Section 102 of the Companies Act, 2013 in AT THE MEETING AND IS ENTITLED TO APPOINT A respect of special business under item no. 4 set PROXY TO ATTEND AND, ON A POLL, VOTE INSTEAD out above and the details under Clause 1.2.5 of OF HIMSELF/HERSELF AND SUCH PROXY NEED NOT Secretarial Standard on General Meeting (SS-2) BE A SHAREHOLDER OF THE COMPANY. issued by the Institute of Company Secretaries 3. Shareholders / Proxies should bring of India, in respect of the person(s) seeking their attendance slip duly filled in for appointment/re- appointment as Director at the attending the meeting. Annual General Meeting, is annexed hereto. 4 MANAGEMENT REPORTS Management Reports 4. Copies of Annual Report will not be distributed Company at the 3rd Annual General Meeting for at the Annual General Meeting. Shareholders are a tenure of five years. At the ensuing Annual requested to bring their copies to the meeting. General Meeting (AGM) M/s. Shah Gupta and Co., Chartered Accountants will retire as the 5. Corporate members are requested to send a duly Company’s Auditor. certified copy of the resolution authorizing their representatives to attend and vote at the meeting. The Board of Directors of the Company at its meeting held on 28th May, 2020 have 6. In case of joint holders attending the meeting, recommended to the Members the appointment only such joint holder who is higher in the order of of M/s. HPVS & Associates, Chartered names will be entitled to vote. Accountants, Mumbai, as the Statutory Auditors 7. Members who hold Shares in physical form of the Company for a period of 5 years from the are requested to write their Folio number in conclusion of this 8th Annual General Meeting the attendance slip for attending the meeting till the conclusion of the 13th Annual General to facilitate identification of membership Meeting. The Company has received a certificate at the meeting. under Section 141(3) of the Act read with Rule 10 of the Companies (Audit and Auditors) Rules, 8. The instrument(s) appointing the Proxy, if any, 2014 from M/s. HPVS & Associates, Chartered shall be deposited at the Registered Office of Accountants, Mumbai, confirming their eligibility the Company not less than forty eight (48) hours to be appointed as the Auditors of the Company before the commencement of the Meeting and in and that they are free from any disqualifications default, the instrument of Proxy shall be treated and that they do not violate the limits as as invalid. Proxies shall not have any right to specified under the Act. speak at the Meeting. Proxies submitted on behalf of limited companies, societies, partnership Consent of the Members is sought for the firms, etc. must be supported by appropriate appointment of M/s. HPVS & Associates, resolution/authority, as applicable, be issued by Chartered Accountants, as the Statutory Auditors the Shareholder organization. of the Company for a period of 5 years, from the conclusion of this 8th Annual General Meeting 9. Shareholders are requested to intimate the till the conclusion of the 13th Annual General Company at its registered office, immediately Meeting at remuneration to be determined by the of any change in their mailing address or email Board of Directors. address in respect of equity shares held. None of the Director and Key Managerial 10. Shareholders desirous of having any information Personnel of the Company and their relatives are regarding Accounts are requested to address concerned or interested, financially or otherwise their queries to the Accounts Officer at the in the resolution set out at Item no. 3 Registered Office of the Company at least seven days before the date of the Annual General Your Directors recommend the resolution set out Meeting, so that the requisite information can be in Item no. 3 for your approval. made available at the Annual General Meeting. EXPLANATORY STATEMENT IN RESPECT OF THE 11. All documents referred to in the accompanying SPECIAL BUSINESS PURSUANT TO SECTION 102(1) Notice are open for inspection at the Registered OF THE COMPANIES ACT, 2013 Office of the Company on all working days if the ITEM NO. 4 Company, during office hours, upto the date of Mr. Rashmi Ranjan Patra (DIN: 03014938) was the Annual General Meeting. appointed as the Whole-time Director of the Company by the shareholders for a term of five years with effect 12. Item No. 3 of the Notice – Appointment of from 30th March, 2015. Statutory Auditor Mr. Patra has completed his education as a Civil and Your Company had appointed M/s. Shah Gupta Coastal Engineer from IIT, Kharagpur and did his Masters & Co., Chartered Accountants (Firm Registration from University of Florida, Gainesville, U.S.A. He has No.:109574W), as Statutory Auditors of the more than 27 years of qualitative expertise (including JSW DHARAMTAR PORT PRIVATE LIMITED | ANNUAL REPORT 2019-20 5 MANAGEMENT REPORTS NOTICE (CONTD.) 7 years in USA, Denmark, Singapore) in design, In view of his rich, varied, vast experience and planning, execution, supervision & management of distinguished career, the re-appointment of Mr.