To The Members,
B & A PACKAGING INDIA LIMITED
Your Directors are pleased to present the Fortieth (40th) Annual Report
of B & A Packaging India Limited (‘the Company') together with the audited
financial statements of the Company for the year ended 31st March 2026.
FINANCIAL RESULTS
The financial performance of the Company is set out below:
(Rs. in Lakhs)
| Particulars |
Year ended 31st March 2026 |
Year ended 31st March 2025 |
| Revenue from Operations |
14,218.81 |
13,099.13 |
| Other Income |
79.76 |
89.00 |
| Total Income |
14,298.57 |
13,188.13 |
| Total Expenditure after adjustment of increase/decrease of
stocks |
13,023.74 |
11,586.67 |
| Profit before Depreciation, Finance Cost and Tax |
1,274.83 |
1,601.46 |
| Depreciation |
215.05 |
189.16 |
| Finance Cost |
69.69 |
46.19 |
| Profit before Tax |
990.09 |
1,366.11 |
| Provision for Tax |
|
|
| Current Tax |
235.80 |
399.00 |
| Income Tax for earlier years |
47.51 |
-- |
| Deferred Tax |
0.34 |
(15.95) |
| Profit for the year |
706.44 |
983.06 |
STATE OF COMPANY'S AFFAIRS
Revenue from operations for the year under review was marginally higher
by 8.55% over previous year. Profit before Tax was lower by 27.52% over the previous year.
The Earnings per Share (EPS) for the year stood at Rs. 14.24 which was lower by Rs. 5.58
than previous year's level.
REVIEW OF MARKET, BUSINESS AND OPERATIONS
Your Company manufactures precision paper sacks and flexible laminates
in its two manufacturing divisions at Balasore, Odisha. Our offering from the sacks
division cater to the packaging needs of tea, food, agricultural and other industrial
products manufacturing units. The flexible unit has been maintaining a strong business
development pipeline into sectors like fresh and frozen food, beverages, dairy products,
pharmaceuticals, snacks and confectioneries.
The Indian packaging industry is undergoing gradual structural change.
One of the most visible shifts is the growing emphasis on sustainability-led packaging
solutions. Regulatory requirements around waste management and extended producer
responsibility, combined with customer pressure from large FMCG and pharmaceutical
companies, are accelerating the move towards recyclable, lightweight and lower-impact
packaging formats. This has increased demand for paper board-based solutions, recyclable
mono-material plastics and higher recycled content across packaging types. While these
changes raise compliance and redesign costs in the short term, they also favour organised
players with scale, technology and established customer relationships.
During the year under review, your Company recorded a marginal increase
in the overall turnover. The paper sacks division and flexi division recorded a higher
turnover in comparison to the previous year. The rise in the employment cost during the
year under review was mainly due to steep rise in the rate of contractual labour announced
by the local government. The Company has maintained a steady profitability during the year
under review.
SEGMENT WISE PERFORMANCE REVIEW
Focused approach on the growing flexible laminate business continued to
pay good dividends. Flexible laminate business accounted for 38.37% of the total revenue
for the year under review. The total revenue in the paper sack division increased by 8.85%
of the total revenue for the year under review. The Packet Tea division accounted for
0.23% of the total revenue for the year under review.The overall turnover of the Company
was higher by 8.55% on Y-o-Y basis. The summarised divisional results are set out below:
(Rs. in Lakhs)
| Particulars |
Paper Sacks |
Flexible Laminates |
Packet Tea |
|
FY |
FY |
FY |
FY |
FY |
|
2025-26 |
2024-25 |
2025-26 |
2024-25 |
2025-26 |
| Revenue from Operations |
8729.65 |
8020.18 |
5455.81 |
5078.95 |
33.35 |
| Profit before tax |
686.02 |
918.19 |
303.77 |
447.92 |
0.30 |
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
Pursuant to Regulation 34(2)(e) of the Securities and Exchange Board of
India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI
Listing Regulations"), the Management Discussion and Analysis forms part of this
report and is attached as Annexure -1. This section provides a comprehensive
overview of the industry landscape, key economic and future trends, and the Company's
operational performance during the financial year under review.
Corporate Initiatives, Works and Technology
Innovation is a key driver to your Company's growth. As the
Company continues to invest in technology driven innovation, the marketing team alongwith
divisional heads successfully blend their knowledge in paper technology, polymer science,
conversion processes and engineering solutions into creativity and innovations which has
led to our superior product offerings. This creativity and innovation have been our key
focus and driving force for our competitive advantage and growth over the years.
We have initiated a series of modernization programme in our plants at
Balasore during the last couple of years like installation of new poly plant with
accessories in flexi unit, new dyer unit in paper sacks division, new machinery in
flexible division, which has led to superior product offerings. Installation of these
machines have resulted in significant reduction in cost and increased output.
Since your Company has been investing in new and improved technology
while upgrading its existing facility with new tools to ensure best-in-class product is
delivered, the new machineries and underlying technology are preferred processes due to
high print quality, quick job changeovers, ease in use and higher production speed.
Your Board of Directors aims to endure to its ambitious modernization
plan. Your Company is continuously strengthening its distribution channels to execute
higher quantum of orders at minimum lead time delivery and adding new customers.
Capacity Addition
During the year under review, the Company had expanded its
manufacturing capabilities by commissioning a new machinery facility for increasing the
production of Flexible Laminates at its factory office at 22, Balgopalpur Industrial Area,
Balasore – 756020, Odisha. This enhancement is aimed at meeting the growing demand
for the product of the Company. The capacity shall be added in a phased manner from April
2026.
Finance
Focused capital allocation and steady cash flows due to effective cost
control and faster realization of debtors resulted in rigid control over the finances of
your Company. Strict working capital controls resulted in minimal impact on interest
burden despite increase in the rate of interest in the bank borrowings.
Credit Rating
The Directors are pleased to inform you that the Company has assigned
its credit rating on the banking facilities of the Company to a new credit rating agency,
Infomerics Valuation and Rating Limited. The Company's long-term banking facilities
credit rated at IVR BBB/ Stable (lVR Triple B with Stable Outlook) and short-term
banking facilities credit rated at IVR A3 + (lVR A Three Plus). These rating
indicates a very strong degree of safety with regard to timely payment of interest and
principal. Such instruments carry lowest credit risk.
Information Technology
Your Company has always been adopting latest technology and staying
tuned with the changes in information technology eco-system which has become our DNA and
ingrained in all our actions. At B & A Packaging, we use sales and service network,
supply chain, human resources and finance dashboards which analyses data and provides
meaningful insights data to improve efficiency. The next important activity is ‘Cyber
Security' to ensure protection of our eco-system from unethical hackers. Cyber
security is best dealt with by creating awareness and security readiness. The Company has
undertaken a series of mandatory cyber security program for its employees which will
enhance user awareness regarding cyber security.
Key risk areas to which your Company is exposed include:
Escalation in raw material prices Currency volatility Global/Economic
downturn/War Competition Wage increases Information Security Risk
SHARE CAPITAL
During the year ended 31st March, 2026 there was no change in the
issued, subscribed and paid-up share capital of the Company. The paid-up share capital as
on 31st March, 2026 stood at Rs. 4,96,05,000 divided into 49,60,500 number of Equity
Shares of Rs.10/- each.
DEPOSIT
Your Company did not accepted any deposits from public in terms of the
provisions contained in Chapter V of the Companies Act, 2013 during the year under review.
TRANSFER TO RESERVES
The Company has transferred an amount of Rs. 1,00,00,000 to general
reserve during the year under review.
CHANGE IN NATURE OF BUSINESS, IF ANY
During the year under review, there has been no change in the nature of
business of the Company.
DIVIDEND
The Board has recommended a final dividend of 10% i.e. Re.1 per equity
share of Rs. 10 each in the Company for the financial year 2025-26. The distribution of
dividend will result in payout of Rs. 49,60,500 before deducting tax at source, if
approved by the Shareholders in the ensuing Annual General Meeting (‘AGM') of
the Company.
DIRECTORS
As on 31st March 2026, the Directorate of the Company consists of nine
directors, four of them are independent. The composition of the directorate is in
conformity with the provisions of the Companies Act' 2013 (the Act') allied
rules and regulations and Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015 (‘Listing Regulations').
In accordance with the provisions of Section 152 of the Companies Act,
2013 and the Company's Articles of Association, Mr. Anjan Ghosh (DIN-00655014) and
Mr. Arvind Parasramka (DIN-01081588) retires by rotation in the ensuing Annual General
Meeting (AGM) of the Company and being eligible offers themselves for reappointment. The
current tenure of Mr. Somnath Chatterjee as Managing Director of the Company ends on 11th
November 2026.
Pursuant to Regulation 17(1C) of SEBI (LODR) and the applicable
provisions of the Companies Act, 2013 read with the rules framed thereunder, the Board in
its meeting held on 25th May 2026 has re-appointed Mr. Somnath Chatterjee as Managing
Director of the Company for a period of 5 years with effect from 12th November 2026. His
reappointment is subject to the approval of the shareholders in the ensuing AGM.
In the opinion of the Board, all Independent Directors possess
requisite qualifications, experience, expertise and hold high standards of integrity
required to discharge their duties with an objective independent judgment and without any
external influence. The core skills, expertise and competence of the members of the Board
including the Independent Directors, forms a part of the Corporate Governance Report of
this Annual Report.
None of the Directors on the Board as on 31st March 2026 was debarred
or disqualified from being appointed or continuing as Directors by the Ministry of
Corporate Affairs (MCA), Government of India or Securities and Exchange Board of India
(SEBI) or any such Statutory Authority of India.
A certificate in this regard from CS Indrani Chaudhuri, Practicing
Company Secretary (CP No. 6667) is enclosed as Annexure - 2 and forms part of
this report.
KEY MANAGERIAL PERSONNEL
During the financial year under review, there has been no change in the
Key Managerial Personnel of the Company. Pursuant to the provisions of section 203 of the
Companies Act, 2013, Mr. Somnath Chatterjee, Managing Director, Mr. Anupam Ghosh, Company
Secretary and Mr. Goutamanshu Mukhopadhyay, Chief Financial Officer, held the position of
Key Managerial Personnel (KMP) of the Company as on 31st March, 2026.
DECLARATION BY INDEPENDENT DIRECTORS
All Independent Directors of the Company have given declarations that
they meet the criteria of independence as laid down under Section 149(6) of the Companies
Act, 2013 and Regulation16(1)(b) of the Listing Regulations and that their names are
registered in the data bank as per Rule 6 of the Companies (Appointment and Qualifications
of Directors) Rules, 2014.
PERFORMANCE EVALUATION OF THE BOARD OF DIRECTORS
In terms of section 134(3) of the Act' read with SEBI Listing
Regulations, the Company had laid down the criteria for reviewing the performance of its
Board of Directors, Committees of the Board and Individual Directors. The evaluation
process inter-alia considers attendance of Directors at Board and committee meetings,
effective participation on Board process, acquaintance with business, compliance with code
of conduct, vision and strategy, which is in compliance with applicable laws, regulations
and guidelines. The Board evaluated its performance after seeking inputs from all the
Directors.
The performance evaluation of the Chairman and the Non-Independent
Directors were carried out by the Independent Directors of the Company. The Board of
Directors expressed their satisfaction with the evaluation process.
The performance evaluation of the Independent Directors was carried out
by the entire Board. The Directors were satisfied with the evaluation results, which
reflected the overall engagement of the Board and its Committees with the Company.
MEETINGS OF THE BOARD OF DIRECTORS
The particulars of the meetings of the Board of Directors held during
the financial year ended 31st March 2026 have been furnished under para 1.4 of the
Corporate Governance Report forming part of the Annual Report.
MEETING OF THE INDEPENDENT DIRECTORS
In terms of section 149 of the Companies Act, 2013 read with schedule
IV of the said Act', a separate meeting of the Independent Directors of the Company
was held on 13th February 2026.
COMMITTEES OF THE BOARD
The Board had constituted ‘Audit Committee', ‘Nomination
and Remuneration Committee', ‘Stakeholders Relationship Committee' and
‘Share Transfer Committee' of Directors in terms of the respective provisions of
the Companies Act, 2013 and SEBI Listing Regulations.
* The Share Transfer Committee has been dissolved w.e.f. 13th February
2026 and the powers of the Committee has been vested with the Board of Directors of the
Company.
The constitution, terms of references and policies of these committees
have been discussed in detail in the Corporate Governance section of the Annual Report.
There were no instances where the Board did not accept the recommendations of the Audit
Committee.
NOMINATION AND REMUNERATION POLICY AND PARTICULARS OF EMPLOYEES
The Company had formulated a comprehensive Nomination and Remuneration
Policy ("NRC Policy") that outlines the key principles for evaluating the
integrity, qualifications, expertise and experience of individuals considered for
appointment as Directors, Key Managerial Personnel's (KMPs) and Senior Management
Personnel's (SMPs). The primary objectives of the NRC Policy are:
(i) To ensure that the appointment and removal of Directors, KMPs, and
SMPs are in strict compliance with the provisions of the Companies Act, 2013 and the SEBI
Listing Regulations;
(ii) To establish clear criteria for evaluating the performance and
determining the remuneration of Directors, KMPs, and SMPs;
(iii) To adopt industry best practices for attracting and retaining top
talent; and
(iv) To promote diversity within the Board.
The Policy also provides a framework for conducting effective
performance evaluations of the Board, its Committees and Individual Directors, which may
be carried out by the Board itself and the Nomination and Remuneration Committee, along
with a mechanism to monitor implementation and compliance. It is noteworthy that there
were no changes in the NRC Policy during the year under review.
The said policy is available at the website of the Company at the
following web-link: https://www.bampl.com/pdf/policy/nomination-remuneration-policy.pdf.
DIRECTORS' RESPONSIBILITY STATEMENT
As required under section 134(5) of the Act', your Directors state
that:
a. In the preparation of the annual accounts, the applicable accounting
standards had been followed along with proper explanation relating to material departures;
b. They 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 as at 31st March 2026 and
of the profit of the Company for the financial year ended 31st March 2026;
c. They had 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. They had prepared the annual accounts on a going concern basis;
e. They had laid down internal financial controls to be followed by the
Company and that such internal financial controls were adequate and were operating
effectively.
f. They had devised proper systems to ensure compliance with the
provisions of all applicable laws and that such systems were adequate and operating
effectively.
INTERNAL FINANCIAL CONTROL
The Company had a proper and adequate Internal Control System
commensurate with the size, scale and complexity of its operations to ensure efficient
usage and protection of the company's resources, accuracy in financial reporting and
due compliance of statutes and procedures. The Company has a proper system of internal
controls to ensure that all assets are safeguarded and protected against loss from
unauthorized use or disposition and that transactions are authorized, recorded and
reported correctly. The Internal Financial Control is exercised through documented
policies, guidelines and procedures. It is supplemented by an extensive program of
internal audit conducted by an external firm of Chartered Accountants manned with trained
professionals appointed by the Board on recommendation made by the Audit Committee.
The Audit Committee of the Company evaluated the adequacy of internal
financial control. During the year under review, such controls were tested with reference
to financial statements and no reportable material weakness in the formulation or
operations were observed. The Statutory Auditors of the Company conducted audit on the
Company's internal financial control over financial reporting and the report of the
same is annexed with Auditor's Report.
Based on the framework of internal financial controls and compliance
system established and maintained by the Company, audit of internal financial controls
over financial reporting by the statutory auditors and the reviews performed by Management
and the relevant Board Committees, including the Audit Committee, the Board is of the
opinion that the Company's internal financial controls were adequate and effective
during the FY 2025-26.
STATUTORY AUDITORS
M/s. Salarpuria & Partners, Chartered Accountants (FRN-302113E) were
appointed as Statutory Auditors of the Company for a period of 5 (Five) years till the
conclusion of the 43rd Annual General Meeting to be held for the FY 2029-30. The Auditors
have confirmed that they were not disqualified from continuing as Statutory Auditors of
the Company.
The report given by the Statutory Auditors on the Financial Statements
of the Company for the financial year ended 31st March 2026 forms part of the Annual
Report. There was no qualification, reservation, adverse remark or disclaimer in the
report. There was no instance of fraud during the year under review, which required the
Statutory Auditors to report to the Audit Committee and / or the Board under Section
143(12) of the Companies Act, 2013 and Rules framed thereunder.
MAINTENANCE OF COST RECORDS AND COST AUDITORS
Pursuant to the provisions of Section 148 of the Act read with the
Companies (Audit and Auditors) Rules,
2014, as amended from time to time, your Company is required to
maintain cost records with respect to flexible packaging business.
The Board of Directors, on the recommendation of Audit Committee, has
re-appointed
M/s. Mou Banerjee & Co., Cost and Management Accountants as the
Cost Auditors of the Company for the Financial Year 2026-27, for all the applicable
products, pursuant to the provisions of Section 148 of the Companies Act, 2013 and the
Companies (Cost Records and Audit) Rules, 2014. The members are requested to ratify the
remuneration payable to the Cost Auditors at the ensuing 40th Annual General Meeting, in
terms of Rule 14 of the Companies (Audit & Auditors) Rules, 2014. The Cost
Auditors' Report do not contain any qualifications, reservations, adverse remarks or
disclaimers and no frauds were reported by the Cost Auditors to the Company under
sub-section (12) of Section 143 of the Act.
SECRETARIAL AUDITORS
M/s. T. Chatterjee & Associates (FRN-P2007WB067100), a Firm of
Practicing Company Secretaries were appointed as Secretarial Auditors of the Company for a
period of 5 years till the conclusion of the 43rd Annual General Meeting to be held for
the FY 2029-30. The Secretarial Audit Report for the financial year ended 31st March, 2026
is attached with the Board's Report as Annexure-3. The necessary clarification
to the observation made by the Secretarial Auditors in their report has been furnished in
para 5.3 of the Corporate Governance Report which forms part of the Director's
report.
None of the Auditors of the Company had reported any fraud as specified
under the second proviso of section 143(12) of the Act'.
COMPLANCE WITH CORPORATE GOVERNANCE NORMS
In terms of appropriate provisions of the Listing Regulations, a
certificate from a Practicing Company Secretary on compliance of Corporate Governance
Norms is attached with the Directors' Report as Annexure-4 and forms part of
the Annual Report.
PARTICULARS OF CONTRACT AND ARRANGEMENT WITH RELATED PARTIES
The Board had adopted a policy on related party transactions to
determine the materiality of transactions with related parties and strategy for dealing
with the same. The policy is in conformity with Regulation 23 of the Listing Regulations
and has been reviewed and renewed by the Board of Directors from time to time.
The said policy is available at the website of the Company at the
following web-link: https://www.bampl.com/pdf/policy-on-related-party-transactions.pdf.
In terms of section 134 of the Act' read with rule 8(2) of the Companies
(Accounts) Rules, 2014 particulars of contracts/ arrangements with related parties entered
into by the Company during the financial year under review in form AOC-2 is attached as Annexure-5
and forms part of the Director's Report.
PARTICULARS OF LOANS, GUARANTEE OR INVESTMENTS
The Company did not give any loans or provided any guarantee or made
any investments which were covered under section 186 of the Companies Act, 2013 during the
year under review.
CORPORATE SOCIAL RESPONSIBILITY
The Corporate Social Responsibility (CSR) initiatives of the Company
are monitored by the Board. Our people-centric initiatives are expanded through our
Corporate Social Responsibility journey where we focus on child education, health care,
women empowerment, sports and community development in addition to many other programs for
the communities around us.
The CSR Policy of the Company as approved by the Board of Directors is
available at the website of the Company at the web-link: https://www.bampl.com/pdf/policy/policy-on-csr.pdf.
In terms of Rule 9 of the Companies (Accounts) Rules, 2014 read with
Rule 8 of the Companies (Corporate Social Responsibility Policy) Rules, 2014, Annual
Report on CSR activities containing brief outline of the CSR policy, CSR initiatives
undertaken and expenditure made during the year under review is attached as Annexure-6 and
forms part of the Director's Report.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO
The information relating to conservation of energy, technology
absorption and foreign exchange earnings and outgo as envisaged in section 134(3) of the
Act' read with the Companies (Accounts) Rules, 2014 is attached as Annexure-7 and
forms part of this report.
ANNUAL RETURN
The Annual Return of the Company for the financial year ended 31st
March 2026 in the prescribed draft format in accordance with the Act' is available at
the website of the Company at the following web-link https://www.bampl.com/annual-return.html.
VIGIL MECHANISM/WHISTLE BLOWER POLICY
In terms of section 177(10) of the Act' read with Regulation 22 of
the SEBI Listing Regulations, your Directors had adopted a Vigil Mechanism/ Whistle Blower
Policy to report and deal with genuine concern raised by a whistle blower. The said policy
has been posted at the website of the Company and is available at https://www.bampl.com/
pdf/policy/vigil-mechanism.pdf. The contact details of the vigilance officer is also
available at the website of the Company. During the year under review, no complaint was
reported under the policy.
PREVENTION OF INSIDER TRADING
The Company had adopted a Code of Conduct for Prevention of Insider
Trading as amended from time to time with a view to regulate trading in securities by the
Directors and designated employees of the Company. The Code requires pre-clearance for
dealing in the shares and prohibits the purchase or sale of shares of the Company, by the
Directors and the designated persons while in possession of unpublished price sensitive
information in relation to the Company and during the period when the Trading Window is
closed.
MATERIAL CHANGES AND COMMITMENTS
Your Directors confirm that there was no material changes and
commitment, affecting the financial performance of the Company which occurred between the
end of the financial year of the Company to which the financial statements relate and the
date of this report.
INVESTOR EDUCATION AND PROTECTION FUND (IEPF)
Pursuant to the provisions of Section 124 (6) of the Companies Act,
2013, Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and
Refund) Rules, 2016 (including amendments thereof) read with circulars and notifications
issued thereunder, all the shares in respect of which dividend has not been paid or
claimed for 7 consecutive years or more shall be transferred by the Company in the name of
Investor Education and Protection Fund (IEPF) within stipulated dates.
The unpaid and unclaimed dividend amount lying in the Unpaid Dividend
Account becomes due to be transferred to Investor Education & Protection Fund
("IEPF") after a period of 7 (seven) years.
A detailed disclosure with regard to the IEPF during the year under
review forms part of the Report on Corporate Governance.
DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS,
COURTS AND TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY'S OPERATIONS IN
FUTURE
There were no significant and material orders passed by the regulators
or courts or tribunals impacting the going concern status and company's operations in
future during the year under review.
DISCLOSURE UNDER PREVENTION OF SEXUAL HARASSMENT OF WOMEN AT WORKPLACE
The Company had adopted a Policy on Prevention, Prohibition and
Redressal of Sexual Harassment at Workplace in accordance with the requirements of the
Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act,
2013 ("POSH Act") and Rules made thereunder. All employees (permanent,
contractual, temporary and trainees) were covered under this Policy. The Company maintains
a zero-tolerance policy towards sexual harassment at the workplace.
The Company has complied with the provisions relating to the
constitution of the Internal Complaints Committee as per the Sexual Harassment of Women at
Workplace (Prevention, Prohibition and Redressal) Act, 2013.
The following is the summary of sexual harassment complaints received
and disposed of during the year:
(a) number of complaints of sexual harassment received in the year -
NIL
(b) number of complaints disposed off during the year - NIL
(c) number of cases pending for more than ninety days - NIL
DISCLOSURE ON COMPLIANCES OF MATERNITY BENEFIT ACT, 1961
The Company has duly complied with the provisions of Maternity Benefit
Act, 1961 during the year under review.
SECRETARIAL STANDARDS
The Company had in place proper systems to ensure compliance with the
provisions of the applicable secretarial standards issued by The Institute of Company
Secretaries of India (ICSI) and such systems were adequate and operated effectively during
the year under review.
EMPLOYEE RELATIONS
One of the key strength of your company is its people. The Company
employed around 151 individuals as permanent employees across its works and offices who
share a passion for excellence. The key attributes that excelled their performance are
knowledge base, expertise and experience. Human Resource (HR) policies of the Company are
focused on developing the potential of each employee. With this premise, a comprehensive
set of HR policies are in place, aimed at attracting, retaining and motivating employees
at all levels. Employee relations remained cordial throughout the year and your Directors
wishes to convey their gratitude and place on record their appreciation for all
executives, staff and workers at all levels for their constant hard work, solidarity,
cooperation and dedication under difficult circumstances which had ensured steady growth
and progress of the Company over the years.
OTHER DISCLOSURES
Your Directors state that during the year under review:
a. The Company made no scheme or provision of money for the purchase of
its own shares by Employees/ Directors or by trustees for the benefit of
Employees/Directors.
b. The Company did not issue any equity shares with differential rights
as to dividend, voting or otherwise.
APPRECIATION
Your Directors wish to place on record their sincere thanks and
appreciation to all customers, suppliers, bankers, authorities, members and associates of
the Company for their co-operation and support at all time.
|
For and on behalf of the Board of Directors |
|
|
B & A Packaging India Limited |
|
|
Somnath Chatterjee |
Dipankar Mukherjee |
| Place: Kolkata |
Managing Director |
Chairman |
| Date: 25th May 2026 |
DIN: 00172364 |
DIN: 07450198 |
|