Dear Shareholders,
The Board of Directors are pleased to present the 41st Annual Report of the
Company accompanied by the Audited Financial Statements (Standalone and Consolidated) for
the Financial Year (‘FY') ended 31st March, 2025.
FINANCIAL AND OPERATIONAL RESULTS
Particulars |
Standalone |
|
Consolidated |
|
|
|
2023-24 |
2024-25 |
|
2023-24 |
|
|
|
|
Gross Sales/Income from Operations |
1,64,898.74 |
1,43,951.21 |
1,64,898.74 |
1,43,951.21 |
Less: GST |
25,124.37 |
21,777.61 |
25,124.37 |
21,777.61 |
Total Operational Revenue (Net of GST) |
1,39,774.37 |
1,22,173.60 |
1,39,774.37 |
1,22,173.60 |
Other Income |
3,829.10 |
4,064.25 |
3,738.86 |
3,951.45 |
Total Income |
1,43,603.47 |
1,26,237.85 |
1,43,513.23 |
1,26,125.05 |
EBIDTA |
25,278.60 |
25,266.62 |
25,188.36 |
25,153.82 |
Less: Finance Cost |
19.37 |
20.49 |
19.37 |
20.49 |
Depreciation and Amortisation |
900.21 |
969.72 |
900.21 |
969.72 |
Profit before share of net
profit/(loss) of investment accounted for using equity method |
24,359.02 |
24,276.41 |
24,268.78 |
24,163.61 |
Share of profit/(loss) from Joint Venture
accounted for using equity method |
- |
- |
109.83 |
76.64 |
Profit Before Tax (PBT) |
24,359.02 |
24,276.41 |
24,378.61 |
24,240.25 |
Provision for tax (including Deferred Tax) |
6377.09 |
6,303.11 |
6,377.09 |
6,303.11 |
Profit from Continuing Operations after
Tax (PAT) |
17,981.93 |
17,973.30 |
18,001.52 |
17,937.14 |
Other Comprehensive Income/ (Loss), Net of
tax |
(118.55) |
(109.74) |
(118.55) |
(109.74) |
Total Comprehensive Income for the FY |
17,863.38 |
17,863.56 |
17,882.97 |
17,827.40 |
Net Worth |
1,00,047.01 |
92,137.97 |
1,00,206.17 |
92,277.54 |
EPS (Equity Share of ' 1/- each) |
7.23 |
7.22 |
7.23 |
7.21 |
B. OPERATIONS
During FY 2024-25, the Company achieved a production volume of 74,681 TPA against
installed capacity of 75,000 TPA. Sales volume for the year stood at 74,381 TPA as
compared to 75,143 in FY 2023-24.
FINANCIAL HIGHLIGHTS
The key highlights of the Company 's performance based on the Standalone Balance Sheet as on 31st
March, 2025 are reflected as under:
Net Worth: During the FY under review, the Net Worth of the Company stood at '
1,00,047.01 lakhs as compared to ' 92,137.97 lakhs for the previous FY
Book Value of Shares: The Book value per Equity share stood at ' 40.20 as against '
37.02 for FY 2023-24.
Current Ratio: As on 31st March, 2025 the current ratio was 11.25 as compared to 7.13
as of 31st March, 2024.
TOL/TON: The ratio of total liability to total net worth for FY 2024-25 was 0.10 as
compared to 0.14 for FY 2023-24
Sales Credit Control: The debtor's percentage to sales decreased from 18.82 in FY
2023-24 to 18.28 in FY 2024-25.
Trade Receivable Ratio: During the FY under review, the Trade Receivable Ratio was 5.76
as compared to 5.22 in the previous fiscal.
Inventory Turnover Ratio: During the FY under review, the Inventory Turnover Ratio was
7.79 as compared to 5.43 in FY 2023-24.
Profit before Tax (%): The Profit before Tax for FY 2024-25 stood at 17.43 % as
compared to 19.87 % for FY 2023-24.
Net Profit Margin (%): The Net Profit Margin for FY 2024-25 stood at 12.86 % as
compared to 14.71 % for FY 2023-24.
Zero Debt: The Company continues to enjoy the status of a "Zero Debt
Company".
Financing Pattern: There was no change in financing pattern and the Company would be
able to sustain its business operations through internal accruals.
Further, there has been no change in the nature of business of the Company.
RESEARCH AND DEVELOPMENT FACILITIES
The Company 's state-of-the-art
Research and Development Center (‘R&D Centre') at Abu
Road, Rajasthan has received recognition from the Department of Science and Industrial
Research (DSIR), Government of India.
Nippon A&L Inc. Company 's
Joint Venture Partner are continuously extending their support and co-operation in terms
of development of new recipe for application development.
During FY 2024-25, the R & D Centre successfully developed 17 new grades and
improved properties of 12 grades, of which 1 new grade and 1 improved grade have been
commercialized. The R & D Centre has also successfully developed 112 new colour
grades, of which 18 colour grades have been commercialized. The R&D Centre, as a
continuous process, also focuses on improvements in the properties of existing material
and other colour developments. The Company has kept gaining the benefits of its in-house
R&D Center by way of new and improved products, leading to customer loyalty and
satisfaction and better margins.
During the year under review, following new R&D facilities and measuring technology
were implemented:
1) Established technology to measure Volatile Organic Compounds in products;
2) Installed new low temperature chamber by which impact data under low temperature can
be measured, which is mainly required to develop new grades in auto-market;
3) Installed new temperature and humidity controlled chamber by which material can be
tested under higher humidity condition
UPDATE ON CAPACITY
With regard to proposed expansion of ABS capacity from 75000 TPA to 200000 TPA at
existing locations at Abu Road (Rajasthan) and Satnoor (Madhya Pradesh), the detailed
Front End Engineering Design (FEED) Package with CAPEX cost estimation was prepared by
Toyo Engineering India Private Limited (TOYO) and total cost estimation works out to
approx. Rs.1700 crores.
Considering the firm policy of the Company to maintain its “Zero Debt Status” and fund the cost for expansion through own funds and aspects of
logistics and safety standards vis a vis proposed expanded capacities at both locations,
the expansion proposal was not considered worth implementation.
Alternatively, after study of detailed proposal and internal analysis of productions
processes it was observed that there are bottlenecks in some areas limiting the overall
ABS production capacity to 75000 TPA. The working on these aspects has given a clear
possibility of enhancement of production capacity up to 1,00,000 TPA by taking appropriate
actions to eliminate the identified bottlenecks coupled with improvements in certain
processes. A feasibility was worked out and the plan of expansion was put at place for
implementation capacity expansion from existing 75000 TPA to 1,00,000 TPA. The estimated
cost for this expansion as approved is ' 200 crores, to be met out of own funds and same
will be completed by September, 2026.
There has been no change in the share capital of the Company during the year under
review. As on 31st March, 2025, the paid-up share capital of the Company stood
at ' 24,88,58,460/- comprising of 24,88,58,460 Equity shares of ' 1/- each fully paid.
The Company has, during the year under review, neither issued any Equity shares with
differential voting rights nor any shares (including sweat equity shares) to its employees
under any scheme.
TRANSFER TO RESERVES
For the FY ended 31st March, 2025, the Directors do not propose to transfer
any amount to the General Reserve.
DIVIDEND AND DIVIDEND DISTRIBUTION POLICY
The Board of Directors had approved the Dividend Distribution Policy in accordance with
Regulation 43A of Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015 (“ Listing
Regulations”).
The policy consists of various parameters, inter-alia, Company 's dividend track record, usage of retained earnings, internal and
external factors, financial conditions, etc. based on which the Board may recommend or
declare Dividend.
The Policy may be accessed under the ‘Policies and Procedures' section on the website of the Company at link: https://bhansaliabs.
com/assets/policies_and_procedures/1593593067.Dividend_Distribution_Policv.pdf
Considering the Company 's
performance for FY 2024-25 and to appropriately reward the shareholders, the Directors
have declared 3 (three) Interim Dividends of ' 1/- (300%) per Equity Share of face value
of ' 1/- which were paid on 31st July 2024, 08th November 2024 and
29th January 2025 respectively. The Directors have recommended a Final Dividend
of ' 1/- (100 %) per Equity Share (of face value of ' 1/-) for the financial year ended 31st
March, 2025 which is subject to approval by the shareholders of the Company in the ensuing
41st Annual General Meeting.
Considering the above, the total dividend declared/recommended by the Company for FY
2024-25 amounts to ' 4/- (400 %) per equity share of face value of ' 1/- each fully
paid-up. This dividend is consistent with the dividend declared/recommended in FY 2023-24,
reflecting the Company 's
steadfast commitment to providing consistent and reliable returns to its valued
shareholders.
DEPOSITS
The Company has not invited any deposits from the public during the FY under review and
as such, no amount of principal or interest related thereto was outstanding as on 31st
March, 2025.
PARTICULARS OF LOANS GIVEN, INVESTMENTS MADE, GUARANTEES GIVEN OR SECURITY PROVIDED
UNDER SECTION 186 OF THE COMPANIES ACT, 2013 ( “the Act”)
The Company has, during the FY under review, not given any loans, guarantees or
provided security and has not made any investments in any body corporate in excess of
limits specified under Section 186 of the Act.
TRANSFER TO THE INVESTOR EDUCATION AND PROTECTION FUND
Pursuant to the provisions of Section 124 and 125 of the Act, read with Investor
Education and Protection Fund Authority (Accounting Audit, Transfer and Refund) Rules,
2016 ( ‘IEPF Rules'), as amended from time to time, the unpaid
and unclaimed dividend pertaining to FY 2016-17, amounting to ' 9,50,061 (Rupees Nine lakh
Fifty Thousand Sixty One only) lying in the Company's unpaid / unclaimed dividend account which remained unclaimed for a
period of seven years, was transferred to the Investor Education and Protection Fund (‘IEPF').
Further, pursuant to the provision of Section 124(6) of the Act, read with Rule 6 of
IEPF Rules, 84,695 Equity shares belonging to 101 Shareholders, on which dividend had not
been claimed for seven consecutive years have been transferred to the DEMAT account of the
IEPF authority as provided in Circular no. 11/06/2017-IEPF dated 16th October,
2017 (General Circular No. 12/2017).
SUBSIDIARY, ASSOCIATE AND JOINT VENTURE COMPANY
During the FY under review, the Company did not have any Subsidiary Company. It has a
Joint Venture (JV) Company, namely Bhansali Nippon A&L Private Limited, wherein it
holds 50% of the paid-up equity share capital. The Registered Office of the JV Company is
at 301 & 302, 3rd Floor, Peninsula Heights, C. D. Barfiwala Road, Andheri
(West), Mumbai - 400 058.
The Report on the performance and statement containing salient features of Financial
Statements of the aforesaid Joint Venture Company in terms of Section 129 of the Act is
separately attached in Form No. AOC-1 with the Consolidated Financials, which forms part
of this Annual Report.
In accordance with Section 136 of the Act, the Consolidated Financial Statements of the
Company including Financial Statements pertaining to its aforesaid Joint Venture Company
are available on the Company 's
website (www.bhansaliabs.com).
The Company has framed a policy on Material Subsidiaries in terms of Regulation
16(1)(c) of Listing Regulations. The policy may be accessed under the ‘Policies and Procedures' section on the website of the Company at
link: https://bhansaliabs.com/assets/
policies_and_procedures/1593593282.Policy_on_Material_Subsidiaries.pdf
CONSOLIDATED FINANCIAL STATEMENTS
The Company has, in accordance with Section 129(3) of the Act, prepared Consolidated
Financial Statements, consolidating its financials with its JV Company, Bhansali Nippon
A&L Private Limited. The Audited Consolidated Financial Statements have been prepared
in accordance with the requirements of Ind AS prescribed under Section 133 of the Act,
read with relevant rules issued thereunder, as applicable and other accounting principles
generally accepted in India and forms part of this Annual Report.
MANAGEMENT 'S DISCUSSION AND
ANALYSIS REPORT
Management 's Discussion and
Analysis Report, as stipulated under the Listing Regulations, forms part of this Annual
Report and is attached as Annexure 1.
COMMITMENT TO QUALITY
The Company is committed to quality. It aims to develop, produce and deliver products
which consistently conform to the customer requirements, and to pursue the goal of
error-free performance through product, process and quality management. The Company
continues to monitor and maintain its effective and well-crafted Quality Control (QC)
measures. QC is aligned to the business objectives and ensures that the Company is focused
on maintaining Quality Centric approach towards its customers/ clients. Over the years,
the Company has established robust processes and strives to improve them continuously.
Ministry of Chemicals and Fertilizers (Dept of Chemicals & Petrochemicals) has
promulgated Acrylonitrile-Butadiene Styrene (ABS) (Quality Control) Order, 2021. We are
pleased to inform that the Company has obtained the accreditation under the BIS
Certification for ABS Grades as per IS 17077 (Part 1): 2022 and applied all relevant
standards and norms in compliance thereof.
CORPORATE SOCIAL RESPONSIBILITY AND OTHER CHARITABLE ACTIVITIES
The Company believes in making lasting impact towards creating a just, equitable,
humane and sustainable society. It considers that, ‘it does not exist only for doing good business, but equally for the
betterment of society.' It is
always at the forefront while extending helping hand to the public at large.
CSR provides an opportunity to the Company to effectively align its values and strategy
for the benefits of the society, by contributing to the social, economic and environmental
development of the society at large.
In compliance with the requirements of Section 135 of the Act read with the applicable
rules made thereunder the Company has a duly constituted CSR Committee which steers the
CSR activities. The CSR Policy, formulated in accordance with the Act (as amended from
time to time), guides the Company to serve the society.
The CSR policy may be accessed under the ‘Policies and Procedures' section on the website of the Company at link https://
bhansaliabs.com/assets/policies_and_procedures/1593593022.Corporate_Social_Responsibilitv_Policv.pdf
The Company inter alia undertakes projects/activities pertaining to (a) Education /
Skill Development Programme, (b) Protection and Promotion of National Heritage, Art &
Culture, and (c) Health & Safety etc.
The details of amount to be spent on CSR activities/amount to be set off in FY 2024-25
are mentioned in the Annual Report on CSR activities forming part of this Report and
attached as Annexure 2.
ANNUAL RETURN
Pursuant to the provisions of Section 134(3) (a) of the Act, an extract of Annual
Return for the FY ended 31st March, 2025 in accordance with the provisions of
Section 92(3) of the Act is available on the Company' s
website and can be accessed through the link: https://bhansaliabs.com/assets/financial_docs/yearly/1755852282.Draft_Annual_Return_2024-25.pdf
CORPORATE GOVERNANCE
The Company believes in adopting the best corporate governance practices. The report on
Corporate Governance as stipulated under Regulation 34(3) read with Schedule V of the
Listing Regulations and the certificate from a Practicing Company Secretary regarding
compliance with Corporate Governance norms, forms part of this Annual Report and is
attached as Annexure 3 and Annexure 3A.
CERTIFICATIONS AND DECLARATIONS
The declaration by Managing Director of the Company relating to compliance of Code of
Conduct by all Board Members and Senior Management Personnel of the Company, in accordance
with the provisions of Regulation 17(5) of Listing Regulations is attached as Annexure
3B and forms part of this Annual Report.
Declaration of Independence
The Company has received necessary declarations from the Independent Directors stating
that they meet the prescribed criteria for independence and complied with the code for
Independent Directors prescribed in Schedule IV of the Companies Act, 2013.
MEETINGS OF THE BOARD
During the FY 2024-25, 4 (Four) meetings of the Board of Directors were held. The
details of the said meetings are mentioned in the report on Corporate Governance forming
part of this Annual Report.
WHISTLE BLOWER / VIGIL MECHANISM POLICY
The Company believes in conducting its business activities in a fair and transparent
manner by adopting highest standards of professionalism, honesty, integrity and ethical
behaviour. Pursuant to Section 177(9) of the Act read with Rule 7 of the Companies
(Meetings of Board and its Powers) Rules, 2014 and Regulation 22 of the Listing
Regulations, the Board of Directors have implemented a vigil mechanism through the
adoption of Whistle Blower/Vigil Mechanism Policy. The details of the same are mentioned
in the Corporate Governance Report forming part of this Annual Report.
RISK MANAGEMENT
Pursuant to Section 134(3) (n) of the Act read with Regulation 17(9) (b) of the Listing
Regulations, the Company has in place a robust risk management framework which identifies
and evaluates business risks and opportunities. The Company recognizes that these risks
need to be managed and mitigated to protect the interest of the shareholders and
stakeholders, to achieve business objectives and enable sustainable growth. The risk
management framework is aimed at effectively mitigating the Company 's various business and operational risks, through strategic actions.
Risk management is embedded in our critical business activities, functions and processes.
It also provides control measures for risk and future action plans. The policy may be
accessed under the ‘Policies
and Procedures' section on the
website of the Company at the web link https://bhansaliabs.com/ assets/policies_and_
procedures/1593593348.Risk_Management_Policy.PDF
CONTRACTS AND ARRANGEMENTS WITH RELATED PARTY
In terms of Section 188 of the Act, read with rules framed thereunder and as per
Regulation 23 of the Listing Regulations, the Company has formulated the policy for
Related Party Transactions. The policy may be accessed under the ‘Policies and Procedures' section on the website of the Company at the web link
https://bhansaliabs.com/assets/policies_and_ procedures/1593593208.
Policv_for_Related_Partv_Transactions.pdf
During the FY under review, there were no transactions entered into by the Company with
any related party falling within the purview of Section 188 of the Act.
All Related Party Transactions as required under Ind AS 24 - Related Party Disclosures
are reported in Note 41 of Notes to Accounts of the Standalone financial statements of the
Company.
DIRECTORS
Retiring by Rotation / Change in Directorship:
In accordance with the provisions of Section 152 of the Act and in terms of the
Articles of Association of the Company, Mr. Jayesh B. Bhansali (DIN: 01062853) Joint
Managing Director cum CFO retires by rotation at the ensuing 41st AGM of the
Company and being eligible, has offered himself for re-appointment.
Following are the changes in composition of the Board of Directors and Key Managerial
Personnel of the Company during FY 2024-25:
- Mr. Rohinton Bomanshaw Anklesaria (DIN: 10571057) was appointed as an Independent
Director of the Company w.e.f 1st April, 2024.
- Mr. Firdaus Nariman Pavri (DIN: 10549118) was appointed as Independent Director of
the Company w.e.f 1st April, 2024.
- Mrs. Taruna Niraj Kumbhar (DIN: 08384526) was appointed as Independent Director of
the Company w.e.f 1st April, 2024.
- Mr. B. M. Bhansali (DIN: 00102930) was re-designated & re-appointed as Chairman
& Managing Director of the Company w.e.f 1st April, 2024.
Members of the Company at its 40th AGM held on 29th June, 2024
approved the above mentioned appointments.
Performance evaluation of the Board:
In accordance with the provisions of the Act and Listing Regulations, the Company has
formulated the criteria for performance evaluation of all the Directors including
Independent Directors, the Chairman, the Board and its Committees, details of which are
mentioned in the Corporate Governance Report forming part of this Annual Report.
KEY MANAGERIAL PERSONNEL
Pursuant to the provisions of Section 203 of the Act, the Key Managerial Personnel of
the Company as on the date of this Report are: Mr. B. M. Bhansali, Chairman & Managing
Director;
Mr. Jayesh B. Bhansali, Joint Managing Director cum CFO;
Mr. Dilip K. Shendre, Whole Time Director and
Mr. Ashwin M. Patel, Company Secretary & GM (Legal)
COMMITTEES OF THE BOARD OF DIRECTORS
The details pertaining to the Committees of Board of Directors of the Company viz.
Audit Committee, Nomination and Remuneration Committee, Stakeholders ' Relationship Committee, Corporate Social Responsibility Committee
and Risk Management Committee have been stated in the Corporate Governance Report forming
part of this Annual Report
M/s. Azad Jain & Co., Chartered Accountants, Mumbai (FRN-006251C), were appointed
as Statutory Auditors of the Company at the 38th AGM held on 29th
June, 2022 to hold office up to the conclusion of 43rd AGM on the remuneration
to be determined by the Board of Directors.
The Report given by the Statutory Auditors on the financial statements of the Company
forms part of this Annual Report. There is no qualification, reservation or adverse remark
made by the Auditors in their report.
Secretarial Auditors:
M/s Rathi & Associates, Practicing Company Secretaries, (FRN-P1988MH011900), were
appointed as the Secretarial Auditors by the Board to conduct the secretarial audit of the
Company for FY 2024-25.
In accordance with Section 204(1) of the Act, the Secretarial Audit Report for the FY
ended 31st March, 2025 is annexed as Annexure 4 to this Report. The
Secretarial Audit Report does not contain any qualification, reservation or adverse
remark.
Cost Auditors:
The Board of Directors, on recommendation of the Audit Committee, had appointed M/s.
Joshi Apte and Associates, Cost Accountants, Pune (FRN-000240), as Cost Auditors of the
Company, for the FY 2025-26, for conducting the audit of the cost records maintained by
the Company for the products, as mandated by the Central Government, at a remuneration as
mentioned in the Notice convening the 41st AGM of the Company.
The Company has received a certificate from M/s. Joshi Apte and Associates, Cost
Accountants certifying that they are eligible to be appointed as Cost Auditors under
Section 141 of the Act and Rules framed thereunder.
A resolution seeking members' ratification for the
remuneration payable to the Cost Auditors for the FY 2025-26 forms part of the Notice of
the 41st AGM of the Company.
As per Section 148 of the Act read with the Companies (Cost Records and Audit) Rules,
2014, the Company is required to maintain cost records and accordingly, such accounts and
records are maintained.
INTERNAL FINANCIAL CONTROL AND THEIR ADEQUACY
Adequate Internal Financial Control systems, commensurate with the nature of the
Company's business, size and
complexity of its operations, are in place and have been operating satisfactorily and
effectively. During the FY under review, no material weaknesses in the design or operation
of Internal Financial Control system was reported.
SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS
No significant material order(s) were passed by the regulators/courts which would
impact the going concern status of the Company and its future operation during the FY
under review. No application was made and no proceedings was pending against the Company
under the Insolvency and Bankruptcy Code, 2016 (31 of 2016) during the year under review.
REPORTING OF FRAUDS
There have been no instances of fraud reported by the Statutory Auditors under Section
143 (12) of the Act and Rules framed thereunder, either to the Company or to the Central
Government.
MATERIAL CHANGES AND COMMITMENTS, IF ANY, AFFECTING THE FINANCIAL POSITION OF THE
COMPANY WHICH HAS OCCURRED BETWEEN THE END OF THE FY TILL THE DATE OF THE REPORT
There have been no material changes, which have occurred between the end of FY till the
date of this report, affecting the financial position of the Company.
COMPLIANCE OF SECRETARIAL STANDARDS
During the FY under review, the Company has complied with all the applicable provisions
of Secretarial Standards issued by the Institute of Company Secretaries of India.
HUMAN RESOURCE DEVELOPMENT
The Company believes in strategic alignment of Human Resources to its business
priorities and corporate objectives. The Company undertakes various staff welfare
measures/activities to strengthen unity, breaking the monotony and bringing the peer
groups together for collaborative decision-making.
Pursuant to the Sexual Harassment of Women at Workplace (Prevention, Prohibition and
Redressal) Act, 2013 and the Rules made thereunder, the Company has in place a Policy on
Prevention of Sexual Harassment (PoSH) of women at workplace. Further, the Company has
also formed an Internal Complaints Committee to redress the complaints regarding sexual
harassment.
a) |
Number of complaints received |
Nil |
b) |
Number of complaints disposed off |
Nil |
c) |
Number of complaints pending as on the
end of financial year |
Nil |
d) |
Number of complaints pending for more
than ninety days |
Nil |
It is also confirmed that the Company is complying with the provisions relating to the
Maternity Benefit Act, 1961.
PARTICULARS OF EMPLOYEES
The Company has adopted a well-defined Nomination and Remuneration Policy for
Directors, Key Managerial Personnel and other employees. The policy may be accessed under
the ‘Policies and Procedures' section on the website of the Company at the
web link https://www.bhansaliabs.com/assets/policies_and_procedures/1593593096.Nomination_&_Remuneration_Policv.pdf
Disclosure with respect to the remuneration of Directors and Employees as required
under Section 197 of the Act and Rule 5 of the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014, as amended, is annexed as Annexure 5 which forms
part of this Report.
Statement containing Particulars of Employees pursuant to Section 197 of the Act and
Rule 5(2) and Rule 5(3) of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014, as amended, forms part of the Annual Report. As per the provisions
of Section 136 of the Act, the reports and Financial Statements are being sent to
shareholders of the Company and other stakeholders entitled thereto, excluding the
Statement containing Particulars of Employees. Any shareholder interested in obtaining
such details may write to the Company Secretary of the Company.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS/ OUTGO
The particulars as required pursuant to the provisions of Section 134(3) (m) of the Act
read with Rule 8 of the Companies (Accounts) Rules, 2014, with respect to conservation of
energy, technology absorption, foreign exchange earnings and outgo etc. forms part of this
Annual Report as Annexure-6.
BUSINESS RESPONSIBILITY AND SUSTAINABLITY REPORT
As per Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, the Business Responsibility and Sustainability Report for F.Y 2024-25
forms part of this Annual Report as Annexure 7. Further, the Company has evolved a
Business Responsibility Policy, encompassing the broad scope of initiatives undertaken, to
best sub serve the interest of all the Stakeholders. The policy may be accessed under the ‘Policies and Procedures' section on the website of the Company at the
web link
https://bhansaliabs.com/assets/policies_and_procedures/1593593437.Business_Responsibility_Policvpdf
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to the requirement of Section 134 of the Act, the Directors of the Company
confirm that:
i. in the preparation of the annual accounts for the FY ended 31st March, 2025, the
applicable accounting standards have been followed and there are no material departures
from the same;
ii. they 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 as at 31st March, 2025 and of the profit of the
Company for the year ended on that date;
iii. they have taken proper and sufficient care for the maintenance of adequate
accounting records in accordance with the provisions of the Act for safeguarding the
assets of the Company and for preventing and detecting fraud and other irregularities;
iv. they have prepared the annual accounts on a ‘going concern' basis;
v. they have laid down internal financial controls to be followed by the Company and
that such internal financial controls are adequate and are operating effectively; and
vi. they have devised proper systems to ensure compliance with the provisions of all
applicable laws and that such systems are adequate and operating effectively.
ACKNOWLEDGEMENT AND APPRECIATION
The Board takes this opportunity to thank the Company 's Members, Customers, Vendors and all other Stakeholders for their
continued support throughout the FY The Directors also thank the Stock Exchanges,
Banks, Ministry of Corporate Affairs, State
Governments, Government of India, and all other Government agencies and Regulatory
authorities for the support extended by
them and look forward to their continued support in future.
The Board would also like to take this opportunity to express their appreciation for
the dedicated efforts of the employees of the
Company.
For and on behalf of the Board of Directors
B.M. Bhansali
Chairman & Managing Director
(DIN: 00102930)
Place : Mumbai
Date : 13th August, 2025
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