Chemcrux Enterprises Ltd Directors Report

Your Directors have pleasure in presenting the 27^th Annual Report on the business and operations of the Company and the Audited Accounts for the Financial Year ended 31^st March 2023.

1.FINANCIALS:

PARTICULARS	2022-23	2021-22	2022-23	2021-22
	STANDALONE		CONSOLIDATED
Revenue from Operations	9515.24	9527.06	9,515.24	9,527.06
Other Income	105.21	99.83	105.21	99.83
Total Revenue	9,620.45	9626.89	9,620.45	9,626.89
Less: Expenses before Interest and Depreciation	-7370.1	-7456.54	-7370.1	-7456.54
Less: (a) Interest	-81.84	-16.73	-81.84	-16.73
(b) Depreciation	-203.72	-158.81	-203.72	-158.81
Profit Before Tax	1964.79	1994.81	1964.79	1994.81
Less: Tax Expenses Current Tax	-476.26	-491.5	-476.26	-491.5
Deferred Tax	-52.87	-17.85	-52.87	-17.85
Prior year?s Income Tax Adjustment	0.15	0.41	0.15	0.41
Profit after Tax Other comprehensive income i. Items that will not be reclassified to profit or loss: Defined Benefit Plan	1435.81	1485.87	1435.81	1485.87
ii. Income tax relating to items that will not reclassified to profit or loss	11.79	-0.22	11.79	-0.22
iii. Items that will be reclassified to profit or loss -Fair Value Gain on	-2.97	-0.06	-2.97	-0.06
Investments	31.76	7.33	31.76	7.33
iv. Income tax relating to
items that will be reclassified to profit or loss	-7.99	-1.84	-7.99	-1.84
Total other comprehensive income, net of tax	32.59	5.32	32.59	5.32
Total comprehensive income for the year	1468.40	1491.20	1468.40	1491.20
Earnings per Share	9.70	10.03	9.70	10.03

Note: The Company has first time adopted Indian Accounting Standards (Ind AS) owing to migration to main Board of BSE Limited w.e.f. 05^th May 2022 and the figures mentioned are as per the Financials prepared on the basis of Ind AS.

2.KEY FINANCIAL RATIOS :

Ratio	Numerator	Denominator	Mar-23	Mar-22	% Variance	Reason for variance
(a) Current ratio	Total Current Assets	Total Current Liabilities	3.36	2.10	60.58%	The increase in the ratio is due to an increase in current investments.
(b) Debt-equity ratio	Short Term Borrowing + Long Term Borrowing	Total Equity	0.202	0.147	37.83%	The increase in the ratio is due to an increase in long term borrowings.

 

Ratio	Numerator	Denominator	Mar-23	Mar-22	% Variance	Reason for variance
(c) Debt service coverage ratio	Profit Before Interest and Tax	Total Debts Service (Interest + Finance Lease Payment + Principal Repayment)	1.13	1.79	-36.96%	The decrease in the ratio is due to an increase in the borrowinng cost.
(d) Return on equity ratio	Net Profit after Tax	Total Equity	0.24	0.31	-23.84%	-
(e) Inventory turnover ratio	Net Sales	Average Inventory	7.42	10.06	-26.28%	The decrease in the ratio is due to an increase in average inventories.
(f) Trade receivables turnover ratio	Net Sales	Average Trade Receivables	5.89	8.59	-31.42%	The decrease in the ratio is due to an increase in average trade receivables.
(g) Trade payables turnover ratio	Net Purchases	Average Trade Payable	4.61	7.62	-39.55%	The decrease in the ratio is due to an increase in average trade payable.
(h) Net Working capital turnover ratio	Net Sales	Working Capital	4.12	5.59	-26.39%	The decrease in the ratio is due to an increase in current assets.
(i) Net profit ratio	Net Profit	Sales	0.15	0.16	-3.25%	-
(j) Return on capital employed	Earning Before Interest and Tax	Capital Employed	0.22	0.26	-18.62%	-
(k) Return on investment	Profit After Tax	Total Assets	0.15	0.18	-17.09%	-

3. DIVIDEND:

Dividend is recommended by your Board taking into consideration the factors like overall profitability, cash flow, capital requirements and other business needs of your company. Your Board of Directors are pleased to recommend a final dividend of Rs. 2/- per equity share (20%) on 1,48,08,840 equity shares of Rs.10/- each subject to approval of shareholders at the forthcoming Annual General Meeting. The Dividend when approved, would result in a total outflow of Rs. 296.18 Lakhs. According to Finance Act, 2020, with effect from April 1, 2020, dividend declared and paid by the Company is taxable in the hands of shareholders and the Company is required to deduct tax at source (TDS) from dividend paid to the shareholders at the applicable rates.

4. OPERATIONAL HIGHLIGHTS:

Your Companys financial highlights during preceding three years period can be summarized as follows:

Rs. In Lacs (except EPS)	FY 2020-21	FY 2021-22	FY 2022-23	% Change (1 year)	% Change (3 years)
Revenue	5412.74	9626.89	9620.45	-0.07	77.74
EBDITA	1334.89	2170.35	2250.35	3.69	68.58
Profit before Tax	1199.93	1994.81	1964.79	-1.50	63.74
Net Profit	893.36	1485.87	1435.81	-3.37	60.72
Networth	4075.89	5468.34	6640.56	21.44	62.92
EPS	6.03	10.03	9.7	-3.29	60.86

7.CREDIT FACILITIES:

The Company has been optimally utilizing its fund based and non-fund based working capital requirements as tied up with Kotak Mahindra Bank Limited. The Company has taken credit facilities totaling to Rs. 32 Cr in nature of Term Loan and Cash credit for expansion. Effective financial measures have been continued to reduce cost of interest and bank charges.

8.TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCTION AND PROTECTION FUND:

There was no amount outstanding to be transferred as unclaimed dividend to investor education and protection fund during the FY 2022-23.

9.MATERIAL EVENTS OCCURING AFTER THE END OF FINANCIAL YEAR AND UPTO THE DATE OF REPORT:

No material changes and commitments affecting the financial position of the Company have occurred between the end of the financial year of the Company to which the financial statement relates and the date of the Board Report.

10.ORDER OF AUTHORITIES/ COURT/ REGULATORS:

No order of any government, state, local or statutory authorities were received during the FY 2022-23 which could have affected the workings of the company.

11.CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO:

The information pertaining to conservation of energy, technology absorption, Foreign exchange Earnings and outgo as required under Section 134(3) of the Companies Act, 2013 read with Rule 8(3) of the Companies (Accounts) Rules, 2014 is furnished as under:

(A)Conservation of energy:

Steps taken / impact on conservation of energy, with special reference to the following:

Steps taken by the company for utilizing alternate sources of energy including waste generated:

Your Company is certified with ISO 50001: 2018 Certification from BSI (British Standards Institution) and ANAB (American National Standards Institution Accreditation Board). Your Company is compliant with the Energy Management Systems and aims to improve energy efficiency and consumption thereby resulting in costs reduction and increase in productivity. During the FY 2022-23, Energy consumption was 2861.052 mwh and cost incurred was Rs. 237.25 lakhs.

(B)Technology absorption:

1.Efforts in brief, made towards technology absorption. Benefits derived as a result of the above efforts, e.g., product improvement, cost reduction, product development, import substitution, etc.

The Company has not entered into any technology-based ventures during the year under review.

In case of imported technology (imported during the last 3 years reckoned from the beginning of the financial year), following information may be furnished:

The Company has not imported any technology and hence not applicable.

2.Expenditure incurred on Research and Development:

The Company has R&D facility located at GIDC, Ankleshwar Gujarat.

RESEARCH AND DEVELOPMENT EXPENDITURE	Amt (In Lakhs)
Capital expenditure	427.94
Revenue expenditure	13.24

(C)Foreign exchange earnings and Outgo:

PARTICULARS	Amt (In Lakhs)
Foreign Exchange earned in terms of actual inflows during the year	832.47
Foreign Exchange outgo during the year in terms of actual outflows	1495.31

(D)Environment:

Your Company is ISO 14001:2015 certified which specifies the requirements for the formulation and maintenance of an environmental management systems (EMS). During the year your Company has complied with local and regulatory environment laws and regulations. We strive actively to reduce the overall impact on the environment by targeting annual reductions in our carbon intensity and the management of waste, water, vehicle emissions and energy consumption. The Board of Directors have the Environment Policy outlining our commitment to conduct operations in environment friendly and responsible way. The policy can be accessed at the website www.chemcrux.com

12.RISK MANAGEMENT:

The Company has framed a sound Risk Management Policy to identify and evaluate business risks and opportunities and the same has become integral part of Company?s Day to day operations. The key business risks identified by the Company are as follows viz. Industry Risk, Management and Operations Risk, Market Risk, Government Policy risk, Liquidity risk and Systems risk. The Company has in place adequate mitigation plans for the aforesaid risks. On account of outbreak of Covid global pandemic and

uncertainty caused by it, Company adopted Risk Management Policy to minimize the impact on its operations, customers, suppliers and employees.

13.CORPORATE SOCIAL RESPONSIBILITY INITIATIVES:

The provisions of Section 135 of the Companies Act, 2013 read with Rule 9 of the Companies (Accounts) Rules, 2013 are applicable to the Company. In line with same, a Corporate Social Responsibility Committee has been constituted by the Board of directors. As on 31^st March 2023, the Committee composition is as follows: Mr. Sanjay Marathe- Chairman of the CSR Committee, Mrs. Neela Marathe & Mr. Mukund Bakshi- members of the CSR Committee. The Company has in place a Corporate Social Responsibility Policy which indicates the activities to be undertaken by the Company in areas or subjects specified in schedule VII of the Companies Act, 2013. Accordingly, during the FY 2022-23 as approved by the CSR Committee, the amount for CSR expenditure amounting to Rs. 30,93,399/- was spent in areas specified under schedule VII of the Companies Act, 2013. Please refer Annexure V for further details and click on the link www.chemcrux.com/investor-info.php under investors info/Corporate Policy link to access the CSR Policy of Company.

14.PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS MADE UNDER SECTION 186 OF THE COMPANIES ACT, 2013:

There Company has granted loan to Kalichem Private Limited and given Corporate Guarantee for Kalichem Private Limited (Joint Venture Company) by complying with section 185 & 186 of the Companies Act, 2013 - a company where directors are interested. The amount of Loan granted during the FY 2022-23 is amounting to Rs. 155 Lakhs /- and Corporate Guarantee for an amount of Rs. 750 Lakhs. The same was in line with the resolution approved by members at the 25^th AGM held on 24^th August 2021. The details are given in the financial statements. Investments in short term UTI Mutual Fund schemes were made during the year which was within the limits approved by Board of Directors and the limits prescribed under section 186 of the Companies Act, 2013.

15.RELATED PARTY TRANSACTIONS:

Related party transactions that were entered during the financial year were on an arm?s length basis and were in the ordinary course of business. There were no materially significant related party transactions with the Company?s Promoters, Directors, Management or their relatives, which could have had a potential conflict with the interests of the Company. Transactions with related parties entered by the Company in the normal course of business are periodically placed before the Audit Committee as per the omnibus approval of Audit Committee. Further, as there are no material related party transactions during the year and thus a disclosure in Form AOC-2 in terms of Section 134 of the Act is not required.

The Board of Directors of the Company have adopted revised policy to regulate transactions between the Company and its related parties, in compliance with the applicable provisions of the Companies Act 2013, the Rules thereunder and the Listing Regulations. This policy has been uploaded on the website of the Company at www.chemcrux.com/investor-info.php under investors info/Corporate Policy link.

16.DIRECTORS / KEY MANAGERIAL PERSONNEL:

During the year, following changes were there in the directors and KMPs:

¦Mr. Mukund Bakshi was appointed an Additional (Non-Executive Independent) Director w.e.f. 22^nd December 2021 and at the 26^th AGM held on 23^rd September 2022 his appointment was regularised and he was appointed as an Independent Director for a term of 5 years by members.

¦In accordance with the provisions of the Companies Act, 2013 and in terms of the Memorandum and Articles of Association of the Company, Mr. Girishkumar Shah, Whole Time Director shall retire by rotation in the ensuing Annual General Meeting and being eligible for re-appointment has offered his candidature for directorship.

> BOARD EVALUATION:

Pursuant to the provisions of the Companies Act, 2013 and Regulation 17(10) of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, the Board has carried an annual performance evaluation of its own performance, committees and the directors individually.

>REMUNERATION POLICY:

The Board has on the recommendation of the Nomination & Remuneration Committee, formulated criteria for determining, qualifications, positive attributes and independence of a Director and also a policy for remuneration of directors, key managerial personnel and senior management. The policy is available at the website of company at www.chemcrux.com/investor-info.php.

>MEETINGS:

During the year under review, six Board Meetings and five Audit Committee Meetings were held. The Company has also constituted Nomination and Remuneration Committee, Stakeholders relationship committee and Corporate Social Responsibility Committee as per the provisions of the Companies Act 2013 and SEBI (LODR) Regulations, 2015. The Committee meetings are held as per the requirement of the applicable laws. The details are given in the Corporate Governance Report which is annexed as Annexure I. The intervening gap between the Meetings was within the period prescribed under the Companies Act, 2013 and Listing Regulations.

>DECLARATION OF INDEPENDENT DIRECTORS:

The Independent Directors have submitted their disclosures to the Board that they fulfill all the requirements as stipulated in Section 149(6) of the Companies Act, 2013 and Regulation 16(1)(b) of SEBI (LODR) Regulations, 2015 so as to qualify themselves to be appointed as Independent Directors under the provisions of the Companies Act, 2013, SEBI (LODR) Regulations, 2015 and the relevant rules. The letter of appointment to Independent Directors as provided under Companies Act, 2013 has been issued and placed on website of the Company: www.chemcrux.com. The Independent Directors confirm that they are not aware of any circumstance or situation, which exist or may be reasonably anticipated, that could impair or impact their ability to discharge their duties with an objective independent judgment and without any external influence and that he is independent of the management.

17.AUDIT COMMITTEE AND VIGIL MECHANISM & WHISTLE BHLOWER:

The Audit Committee as on 31^st March 2023, has 3 members -Mr. Mukund Bakshi -Independent Director (Chairman) Mr. Shailesh Patel- Independent Director and Mr. Bhanubhai Patel - Independent Director. During the year five Audit Committee Meetings were held. The details of the same are given in Corporate Governance Report. In pursuance of the provisions of section 177(9) & (10) of the Companies Act, 2013 and Regulation 22 of SEBI (LODR) Regulations, 2015, a Vigil Mechanism for directors and employees to report genuine concerns has been established. The Vigil Mechanism & Whistle Blower Policy has been uploaded on the website of the Company at http://www.chemcrux.com/investor-info.php.

18.DIRECTORS RESPONSIBILITY STATEMENT:

In accordance with the provisions of Section 134(5) of the Companies Act, 2013 the Board hereby submits its responsibility statement: -

(a)in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;

(b)the directors have 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 have 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 have prepared the annual accounts on a going concern basis; and

(e)the directors, have laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively.

(f)the directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

19.ANNUAL RETURN

Pursuant to Section 134(3)(a) and 92(3) of the Act, the Annual Return of the Company has been placed on the website of the Company at http://www.chemcrux.com/investor-info.php.

In terms of Rules 11 and 12 of the Companies (Management and Administration) Rules, 2014, the Annual Return shall be filed with the Registrar of Companies, within the prescribed timelines.

20.SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES:

The Company does not have any Subsidiary Company. A Joint venture Agreement has been entered with Kalintis Healthcare Private Limited & a Joint Venture Company under the name Kalichem Private Limited w.e.f. 22^nd December 2021 has been formed. The details are in form AOC-1 (Annexure IV).

21.DEPOSITS:

The Company has neither accepted nor renewed any deposits during the year under review. No Unsecured loan availed from Directors during the year.

22.AUDITORS:

>STATUTORY AUDITORS

M/s. R.J. Shah & Associates has been appointed as the Statutory Auditor of the Company at the 22^nd Annual General Meeting and will be completing term of 5 years upon conclusion of ensuing 27^th Annual General Meeting of the Company. The report of the Statutory Auditors of the Company is annexed and is forming part of the Annual Report.

The Board of Directors at their meeting held on 04^th August 2023, have recommended appointment of M/s. Naresh & Co., Chartered Accountants, Vadodara (FRN: 106928W) as Statutory Auditors from the conclusion of the ensuing 27^th AGM till 32^nd AGM to be held in the year 2028 (for FY 31/03/2028). As required under Listing Regulations, the auditors have also confirmed that they hold a valid certificate issued by the Peer Review Board of the Institute of Chartered Accountants of India. Their appointment is subject to the approval of the shareholders at the ensuing AGM.

>SECRETARIAL AUDIT:

Pursuant to the provisions of Section 204 of the Companies Act, 2013 and The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company appointed M/S. Kashyap Shah & Co., a Practicing Company Secretaries to undertake the Secretarial Audit of the Company. The Report of the Secretarial Audit Report is annexed herewith as "Annexure III".

>INTERNAL AUDITORS:

M/s. Naresh & Co., Chartered Accountants, Vadodara were the Internal Auditors till completion of 1^st Quarter of FY 2022-23 (till 30^th June 2023). The report of Internal Auditors is reviewed by the Audit Committee from time to time.

The Board has appointed K R & Associates, Chartered Accountants, Vadodara (FRN: 131846W) as the Internal Auditors, to conduct the Internal Audit from the 2^nd quarter onwards for the FY 2023-24.

23.OBSERVATION OF AUDITORS:

There are no qualifications, reservations or adverse remarks made by the Statutory Auditors, Internal Auditors and Secretarial Auditors. The auditors have not reported any frauds under sub section 12 of section 143 other than those which are reportable to the Central Government.

24.INTERNAL CONTROL SYSTEM AND THEIR ADEQUACY:

The Company has adequate system of internal control to safeguard and protect from loss, unauthorized use or disposition of its assets. All the transactions are properly authorised, recorded and reported to the Management. The Company is following all the applicable Accounting Standards for properly maintaining the books of accounts and reporting financial statements. The internal auditor of the company checks and verifies the internal control and monitors them in accordance with policy adopted by the company. The Company continues to ensure proper and adequate systems and procedures commensurate with its size and nature of its business.

25.SHARES:

a.BUY BACK OF SECURITIES: The Company has not bought back any of its securities during the year under review.

b.SWEAT EQUITY: The Company has not issued any Sweat Equity Shares during the year under review.

c.BONUS SHARES: The Company has not issued any Bonus Shares during the year under review.

d.EMPLOYEES STOCK OPTION PLAN: The Company has not provided any Stock Option Scheme to the employees.

26.CORPORATE GOVERNANCE:

As per Regulation 34(3) and Schedule V of SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015, a separate Section on Corporate Governance (Annexure I to the Board?s Report) on

corporate governance practices followed by the Company, together with a certificate from the Company?s

Secretarial Auditor confirming compliance forms an integral part of this Report. e provided in

27.AWARDS AND RECOGNITIONS:

The Company has following recognitions and/or awards:

•One Star Export House

•AEO - T1 Certificate

•2019 - SKOCH order of Merit (top 200 MSMEs)

•2020 - 4th IPF Excellence Award (fast growing SME)

•2021 - 1st Rank in Top 50 SME Companies (Dalal Street Investment Journal June 07-20, 2021 editon)

•Recognized as FT High-Growth Companies Asia-Pacific 2023 & Indias Growth Champions 2023

28.MANAGEMENT DISCUSSION AND ANALYSIS:

The Management Discussion and Analysis Report is presented in a separate section forming part of this

Annual Report at Annexure II.

29.PARTICULARS OF EMPLOYEES: -

Disclosure under the provisions of Section 197 of the Companies Act, 2013 read with Rule 5 of the

Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014

a)The ratio of the remuneration of each director to the median remuneration of the employees of the Company for the financial year.

Ratio of remuneration of MD and Whole Time Director - 35.34: 1 (Rs. 1,17,60,000: 3,32,745)

Other Directors - Not Applicable as they are only paid sitting fees.

b)The percentage increase in the remuneration of each director, Chief Executive Officer, Chief Financial Officer and Company Secretary, if any in the financial year - During the FY 2022-23, there was 12 % increase in remuneration of WTD and 12 % increase in remuneration of MD. There is 20% of increase in remuneration of CS and 20% of increase in remuneration of CFO, in FY 2022-23.

c)The percentage increase in the median remuneration of employees in the financial year - Median Remuneration is Rs. 3,32,745 and average increase is 20% for the F.Y. 2022-23.

d)The number of permanent employees on the rolls of the Company as on 31.03.2023 - 94

e)Average percentile increase already made in the salaries of employees other than the managerial personnel in the last financial year and its comparison with the percentile increase in the managerial remuneration and justification thereof and point out if there are any exceptional circumstances for increase in the managerial remuneration - Average 20% increase in salaries of Employees and 12 % increase in Managerial Remuneration of Directors during F.Y. 2022-23. The increase in remuneration of managerial person is commensurate with the efforts put in by them in leading the Company to greater heights and as per the prescribed limits of Schedule V of the Companies Act, 2013.

f)Affirmation that the remuneration is as per the remuneration policy of the company.

The Company?s remuneration policy is driven by the success and performance of the individual employees and the Company. Through the compensation package, the company endeavors to attract, retain, develop and motivate high performance staff. The Company follows a compensation mix of fixed pay, benefits and performance-based variable pay. The Company affirms that the remuneration is as per remuneration poliy of the Company.

g)Details pertaining to remuneration 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 with reference to remuneration of employees in excess of the limits prescribed -

i.None of the employees were in receipt of remuneration above 8 lakh 50 thousand per month.

ii.The particulars of employees in the Company drawing remuneration aggregating to Rs. Rs. 1.02 crore or above per annum are as under:

NAME	MR. GIRISHKUMAR SHAH, aged 67 years (DIN:00469291)	MR. SANJAY MARATHE, aged 66 years (DIN:01316388)
Designation	Whole Time Director (Executive Chairman)	Managing Director
Date of Appointment	15/04/1996	15/04/1996
Experience	More than 42 years	More than 42 years
Nature of Employment, whether contractual / otherwise	Whole Time Director, designated as Executive Chairman for 5 years as per appointment resolution w.e.f. 01/01/2019	Managing Director for 5 years as per appointment resolution w.e.f. 01/01/2019
Qualifications	Bachelor of Engineering in Chemical Post-graduate in Industrial Management	Bachelor of Engineering in Chemical (M. Tech) from Indian Institute of Technology (IIT)
No. & % of Equity Shares held in the company (as on 31/03/2023)	5400240 (36.47%)	5400240 (36.47%)
The last employment held by such employee before joining the Company	Self - Employed	Self - Employed
Details of remuneration last drawn (FY 22-23)	Rs. 84,00,000/- as Salary Rs. 33,60,000/- as Performance Bonus	Rs. 84,00,000/- as Salary Rs. 33,60,000/- as Performance Bonus
Whether any such employee is a relative of any director or manager of the company and if so, name of such director or manager	Executive Chairman, Husband of Mrs. Sidhdhi Shah (Additional Director (NonExecutive & Non-Independent w.e.f 04/08/2023)	Husband of Mrs. Neela Marathe, Director (Non-Executive & Non- Independentupto 04/08/2023)

h) The statement containing names of top Ten employees (excluding directors) in terms of remuneration drawn and the particulars of employees as required under Section 197 (12) of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and Remuneration of managerial personnel) Rules, 2014 is furnished as below:

EMPLOYEE Sl No NAME	DESIGNAT ION	Salary (pa.)	Nature of employmen t (permanent / Contract/ Otherwise)	Qualific ation	Experien ce (in years) as on 31.03.23	date of joining	Age as on 31.03 .2023	Last employe ment	% of equity shares held as on 31.03.23	wheth er relativ e of direct or
1 Vipul Sanghvi	Factory Manager	1525800	Permanent	Mecanic al Engineer	35 +	17-07-09	56	Self employed	0.00067527	No
Manharbhai 2 Maganbhai Patel	Executive Logistic	844872	Permanent	B.com	33+	15-04-96	57	-	-	No
3 Heena Shah	QC Manager	814236	Permanent	B.pharm	15 +	01-01-07	46	-	-	No
Balasaheb 4 Bapurao Jadhav	Executive Commerce	750408	Permanent	B.com	27+	01-03-95	53	-	-	No
5 Krutarth Parikh	Chief Financial Officer	636792	Permanent	B.com, Certified Accounti ng Technici an & semi qualified CA	8+	01-02-21	36	Larsen and T oubro Limited	0.0000338	No
6 Sunita Borade	Executive Office	560916	Permanent	B.Com	15+	01-11-07	53	Baroda Citizen Council	0.0000675	No
7 Ajay Shinde	Office Assistant	544284	Permanent	11th	31+	01-09-04	54	-	0.0000338	No
8 Sushil T ripathi	Assistant Manager Account	517380	Permanent	Graduate	22+	10-01-11	50	Environ Engineerin g Company	-	No
Swati 9 Amrendra sinha	Executive Office	478791	Permanent	B.Sc	13+	15-06-09	36	-	-	No
10 Jaykrishnan kurup	Assistant Manager Sales	441600	Permanent	Diploma in Sales	30+	01-02-22	57	Farmson Pharmaceu tical Gujarat Private Limited	0.0000338	No

30.DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION OF, PROHIBITION AND REDRESSAL) ACT, 2013:

The Company has in place a Sexual Harassment Policy in line with the requirements of the Sexual Harassment of Women at the Workplace (Prevention, Prohibition and Redressal) Act, 2013. All women employees (permanent, contractual, temporary, trainees) are covered under this policy. An Internal complaint committee is formed to look after complaints of women employees. No complaints for sexual harassment were received during the year.

31.MAINTENANCE OF COST RECORDS:

Pursuant to Section 148 of the Companies Act, 2013 read with the Companies (Cost Records and Audit) Amendment Rules, 2014 dated 31/12/2014. the maintenance of cost records as specified by the Central Government under sub-section (1) of section 148 of the Companies Act, 2013, is applicable to your Company and your Company has maintained costs records for the F Y 2022-23. However, cost audit was not applicable for the Financial Year 2022-23.

32.COPORATE GOVERNANCE AND FAIR BUSINESS PRACTICES:

The extant provisions of corporate governance prescribed under SEBI Listing Regulations were applicable to the Company for the FY 2022-23 and the Company has followed the said provisions and the report on the Corporate Governance is given in Annexure I to this Report. Company?s approach to business is based upon core set of values and ethics. The management of Company is dedicated to ethical, fair and just business practices. In line with this vision, the Board of Directors of the Company have in place the Business Ethics Policy, which is available at the website of company www.chemcrux.com.

33.COMPLIANCE WITH APPLICABLE SECRETARIAL STANDARDS:

The Company has complied with the provisions of Secretarial Standards (I & II) issued by the Institute of Company Secretaries of India and approved by the Central Government under section 118(10) of the Companies Act, 2013.

34.DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER INSOLVNCY AND BANKRUPTCY CODE, 2016 DURING THE YEAR ALONG WITH THE CURRENT STATUS:

During the year under Review, neither any application was made, nor any proceedings were pending under Insolvency and Bankruptcy Code, 2016.

35.THE DETAILS OF DIFFERENCE BETWEEN AMOUNT OF THE VALUATION DONE AT THE TIME OF ONE-TIME SETTLEMENT AND THE VALUATION DONE WHILE TAKING LOAN FROM THE BANKS OR FINANCIAL INSTITUTIONS ALONG WITH THE REASONS THEREOF:

Not Applicable

36.HUMAN RESOURCES:

During the period under review, the personal and industrial relations with the employees remained cordial in all respects. The management has always carried out systematic appraisal of performance and imparted training at periodic intervals. The Company recognizes talent and has judiciously followed the principle of rewarding performance. The Company has in place Human Rights Policy Statement to express Company?s commitment to do business with ethical values and embrace practices that supports human rights, and labour laws on a continuous basis. The policy is available on the website of Company www.chemcrux.com.

37.CAUTIONARY STATEMENT:

Statements in these reports describing company?s projection statements, expectations and hopes are forward looking statements. Though, these are based on reasonable assumption, the actual results may differ.

38.ACKNOWLEDGEMENTS:

Your Directors place on record their sincere thanks to bankers, business associates, consultants, employees and various Government Authorities for their continued support extended to your Companies activities during the year under review. Your Directors also acknowledge gratefully the shareholders for their relentless support and confidence reposed on the Company.

For and on behalf of the Board of Directors CHEMCRUX ENTERPRISES LIMITED