MPVL ANNUAL REPORT -2020-21(Final).pdf

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75th ANNUAL REPORT

2020 - 21

MYSORE PAINTS & VARNISH LIMITED(A Govt. of Karnataka Undertaking)

Mysuru - 570 015An ISO 9001 : 2015 and ISO 14001: 2015 Certified Company

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Mysore Paints & Varnish Limited, Mysore

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PÀA¥À¤AiÀÄ £ÉÆAzÁ¬ÄvÀ PÀbÉÃjUÉ À°è ÀvÀÀPÀÌzÀÄÝ.

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2. 31£ÉÃ ªÀiÁZïð, 2021 gÀAzÀÄ CAvÀåUÉÆAqÀ ºÀtPÁ¸ÀÄ ªÀµÀðPÉÌ ¸ÀªÀiÁ£ÁA±À µÉÃgÀÄUÀ¼À ªÉÄÃ¯É¯Á sÁA±À WÉÆÃ¶ ÀÄªÀÅzÀÄ.

3. ÉPÀÌ ¥Àj±ÉÆÃzsÀPÀjUÉ ÀA sÁªÀ£ÉAiÀÄ£ÀÄß ¤UÀ¢¥Àr ÀÄªÀÅzÀÄ.

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DIN : 07918061

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5. PÀA¥À¤UÀ¼À PÁAiÉÄÝ 2013 gÀ ¥ÀæPÁgÀ G¥À§AzsÀUÀ½UÉ M¼À¥ÀlÄÖ ¤zÉðÃ±ÀPÀgÀ ªÀÄAqÀ½AiÀÄÄ ²¥sÁgÀ ÀÄì

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ÀªÀð ÀzÀ ÀågÀ À sÉAiÀÄ ¢£ÁAPÀzÀAzÀÄ ÀzÀ ÀågÀÄUÀ¼À zÁR¯Áw ¥ÀÄ ÀÛPÀzÀ°è ¢£ÁAPÀ 25-10-2021gÀ°è

EgÀÄªÀAvÉ ºÉ ÀgÀÄ £ÀªÀÄÆzÁVgÀÄªÀ ÀzÀ ÀåjUÉ ¤ÃqÀ ÁUÀÄªÀÅzÀÄ.

6. 31£ÉÃ ªÀiÁZïð, 2021 gÀ ÉPÀÌ¥ÀvÀæUÀ¼À §UÉÎ ºÉaÑ£À ªÀiÁ»wAiÀÄ£ÀÄß EaÒ ÀÄªÀ ÀzÀ ÀågÀÄ vÀªÀÄä ªÀÄ£À«UÀ¼À£ÀÄß

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PÀ¼ÀÄ» À®Ä PÉÆÃjzÉ.

7. µÉÃgÀÄzÁgÀgÀÄ vÀªÀÄä CAZÉ «¼Á¸À/E-ªÉÄÃ¯ï «¼Á¸ÀzÀ¯ÉèÃ£ÁzÀgÀÆ §zÀ¯ÁªÀuÉ EzÀÝgÉ w½¸À®Ä

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PÀ¼ÀÄ»¸À®Ä PÉÆÃjzÉ.

8. ªÁ¶ðPÀ ¸ÁªÀiÁ£Àå À sÉAiÀÄ°è ªÀÄvÀ ZÀ Á¬Ä À®Ä ºÀPÀÌ£ÀÄß ºÉÆA¢gÀÄªÀ ÀzÀ ÀågÀÄ vÁªÀÅ ¤ÃqÀÄªÀ

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PÀZÉÃjAiÀÄ°è£À ¥Àæ¨sÁgÀ PÀA¥À¤ PÁAiÀÄðzÀ²ðUÀ¼À eÉÆvÉ ¥ÀvÀæ ªÀåªÀºÁgÀ £ÀqÉ¸À®Ä PÉÆÃjzÉ.

PÀA¥À¤AiÀÄ ¨ÁQ ¯Á¨sÁA±À SÁvÉUÉ ªÀUÁð¬Ä¹zÀ ¢£ÁAPÀ¢AzÀ K¼ÀÄ ªÀµÀðUÀ¼À M¼ÀUÁV

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124 ¥ÀæPÁgÀ, ºÀÆrPÉzÁgÀgÀ ²PÀët ªÀÄvÀÄÛ sÀzÀævÁ ¤¢üUÉ ªÀUÁð¬Ä¸À¯ÁUÀÄvÀÛzÉA§ÄzÀ£ÀÄß UÀªÀÄ¤¸À®Ä

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2011 ªÀÄvÀÄÛ K¦æ¯ï 29, 2011 ªÀÄÆ®PÀ, ÁA¹ÜPÀ ¥Àæ±Á±À£ÀzÀ°è ºÀ¹gÀÄ G½PÉAiÀÄ ªÉÆzÀ® ºÉeÉÓAiÀÄ

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PÀA¥À¤UÉ À°è¸ÀvÀPÀÌzÀÄÝ.

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«¼Á¸À §zÀ¯ÁªÀuÉ ªÀiÁr PÀA¥À¤UÉ ¤ÃqÀÄªÁUÀ J¯ï.J¥sï. £ÀA§gï. ¸ÀªÉÄÃvÀ ¤ÃqÀ®Ä PÉÆÃjzÉ.

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14 PÉÆÃ«qï -19 ¸ÁAPÁæ«ÄPÀ gÉÆÃUÀ ºÀgÀqÀÄ«PÉAiÀÄ »£Éß ÉAiÀÄ°è ªÀÄÄ£ÉßZÀÑjPÉ PÀæªÀÄªÁV µÉÃgÀÄzÁgÀgÀÄ

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1. PÀA¥À¤AiÀÄ «ªÀgÀUÀ¼ÀÄ :

PÀA¥À¤AiÀÄÄ ¥ÉÃA¬Ämïì ªÀÄvÀÄÛ C½ À ÁUÀzÀ ±Á¬ÄAiÀÄ£ÀÄß GvÁà¢¹ ªÀiÁgÁl ªÀiÁqÀÄwÛzÉ. PÀA¥À¤AiÀÄ

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¥Àæ ÀPÀÛ ºÀtPÁ ÀÄ ªÀµÀðzÀ°è AiÀiÁªÀÅzÉÃ ºÉÆ À ªÀ»ªÁl£ÀÄß DgÀA©ü¹gÀÄªÀÅ¢®è.

2. ¤ªÀðºÀuÉAiÀÄ ¥sÀ°vÁA±ÀUÀÀ¼ÀÄ :

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* EvÀgÉÃ DzÁAiÀÄ 352.60 367.96

* MlÄÖ ªÉZÀÑUÀ¼ÀÄ 3652.40 2050.41

* ¯Á sÀ - vÉjUÉUÉ ªÀÄÄAZÉ 674.87 469.92

* ¯Á sÀ - vÉjUÉAiÀÄ £ÀAvÀgÀ 481.89 337.36

PÀA¥À¤AiÀÄÄ 223.28 ªÉÄnæPï l£ïUÀ¼À (»A¢£À ªÀµÀð - 275.26 ªÉÄnæPï l£ï) §tÚ ºÁUÀÆ EvÀgÉÃ

GvÀà£ÀßUÀ¼À£ÀÄß GvÁà¢¹gÀÄvÀÛzÉ.

3. ¯Á sÁA±À :

PÀA¥À¤AiÀÄ PÁAiÀÄð¸ÁzsÀ£ÉAiÀÄ DzsÁgÀzÀ ªÉÄÃ¯É, ¤ªÀÄä ¤zÉðÃ±ÀPÀgÀÄUÀ¼ÀÄ 2020-21£ÉÃ ªÀµÀðPÉÌ

±ÉÃ. 25% gÀµÀÄÖ r«qÉAqÀ£ÀÄß ¤ÃqÀ®Ä (gÀÆ.2.50 ¥Àæw 10 gÀÆ. ÀªÀiÁ£ÁA±À µÉÃjUÉ) ÀzÀ¸ÀågÀ

C£ÀÄªÉÆÃzÀ£ÉUÉ ²¥sÁgÀ¸ÀÄì ªÀiÁqÀ®Ä ºÀ¶ð¸ÀÄvÁÛgÉ. r«qÉAqïUÉ ÀzÀ¸ÀåjAzÀ M¦àUÉ zÉÆgÉvÀ°è

r«qÉAqï vÉjUÉ ¸ÉÃj gÀÆ.25,91,375/- ®PÀëUÀ¼À £ÀUÀzÀÄ ºÉÆgÀºÀjªÀÅ M¼ÀUÉÆ¼ÀÄîvÀ ÛzÉ.

C£ÀÄªÉÆÃ¢vÀ r«qÉAqÀ£ÀÄß C£Àé¬Ä¸ÀÄªÀ ¤AiÀÄªÀÄUÀ¼À jÃvÀå ¥ÁªÀw ªÀiÁqÀ¯ÁUÀÄªÀÅzÀÄ. ªÀgÀªÀiÁ£À

vÉjUÉ PÁAiÉÄÝ, 1961gÀ, PÀ®A 115(0) C£ÀÄß 2021-22£ÉÃ ¸Á°¤AzÀ C£ÀéAiÀÄªÁUÀÄªÀAvÉ

gÀzÀÄÝ¥Àr À ÁVgÀÄªÀÅzÀjAzÀ r«qÉAqï vÉÀjUÉ C£Àé¬Ä ÀÄªÀÅ¢®è.

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ÀzÀ ÀågÀÄUÀ¼À zÁR¯Áw ¥ÀÄ ÀÛPÀ ºÁUÀÆ µÉÃgÀÄ ªÀUÁðªÀuÉ zÁR¯Áw ¥ÀÄ ÀÛPÀUÀ¼ÀÄ ¢£ÁAPÀ 25-10-2021jAzÀ 13-11-2021 ªÀgÉV£À CªÀ¢üAiÀÄ°è (JgÀqÀÆ ¢£ÀUÀ¼ÀÄ ÉÃj) ªÀÄÄZÀÑ®ànÖgÀÄvÀÛªÉ. £ÀªÀÄä ªÁ¶ðPÀ¸ÁªÀiÁ£Àå ¸À¨sÉAiÀÄ£ÀÄß ¢£ÁAPÀ 13-11-2021 gÀAzÀÄ £ÀqÉ¸À®Ä ¤UÀ¢¥Àr¸À¯ÁVzÉ.

4. AiÀiÁªÀÅzÁzÀgÀÆ ¤¢üUÀ½UÉ ªÀUÁð¬Ä À§ºÀÄzÁzÀ ªÉÆvÀÛzÀ ¥Àæ ÁÛªÀ£ÉUÀ¼ÀÄ :

PÀA¥À¤AiÀÄÄ ¥Àæ ÀPÀÛ Á°£À°è gÀÆ. 48,18,879-00 UÀ¼À£ÀÄß ÁªÀiÁ£Àå ¤¢üUÉ ªÀUÁð¬Ä¸ÀÄªÀ ¥Àæ ÁÛªÀ£ÉºÉÆA¢gÀÄvÀÛzÉ.

5. ¥Àæ ÀPÀÛ ºÀtPÁ ÀÄ ªÀµÀðzÀ CAvÀåPÉÌ ªÀÄvÀÄÛ F ªÀgÀ¢ À°è ÀÄªÀ CªÀ¢üAiÉÆ¼ÀUÉ ºÀtPÁ ÀÄ ¹ÜwUÀwAiÀÄ°èDVgÀ§ºÀÄzÁzÀ §zÀ ÁªÀuÉUÀ¼ÀÄ ªÀÄvÀÄÛ ¨ÁzsÀåvÉUÀ¼À §UÉÎ :

¥Àæ ÀPÀÛ ºÀtPÁ ÀÄ ªÀµÀðzÀ CAvÀåPÉÌ ªÀÄvÀÄÛ F ªÀgÀ¢ À°è ÀÄªÀ CªÀ¢üAiÉÆ¼ÀUÉ ºÀtPÁ ÀÄ ¹ÜwUÀwAiÀÄ°èDVgÀ§ºÀÄzÁzÀ §zÀ ÁªÀuÉUÀ¼ÀÄ ªÀÄvÀÄÛ ÁzsÀåvÉUÀ¼ÀÄ EgÀÄªÀÅ¢®è.

6. ¤zÉðÃ±ÀPÀgÀ ªÀÄAqÀ½ :

PÀA¥À¤AiÀÄÄ ¤zÉÃð±ÀPÀgÀ ªÀÄAqÀ½¬ÄAzÀ ¤ªÀð» À®àqÀÄwÛzÉ. ªÀiÁ£Àå ²æÃ J£ï.«. ¥sÀtÂÃ±ï gÀªÀgÀÄCzsÀåPÀëgÁVzÀÄÝ ªÀÄvÀÄÛ qÁ. ZÀAzÀæ±ÉÃRgÀ zÉÆqÀØªÀÄ¤ gÀªÀgÀÄ ªÀåªÀ ÁÜ¥ÀPÀ ¤zÉÃð±ÀPÀgÁVgÀÄvÁÛgÉ. G½zÀ¤zÉÃð±ÀPÀgÀÄUÀ¼ÀÄ PÀ£ÁðlPÀ ¸ÀPÁðgÀ¢AzÀ £ÉÃ«Ä¸À®àlÖªÀgÁVzÀÄÝ, ¸ÀévÀAvÀæ ¤zÉðÃ±ÀPÀgÀAvÉ PÁAiÀÄð¤ªÀð» ÀÄvÁÛgÉ.

7 ªÀÄAqÀ½ À¨sÉUÀ¼ÀÄ : 31£ÉÃ ªÀiÁZïð, 2021 PÉÌ CAvÀåUÉÆAqÀ ºÀtPÁ¸ÀÄ ªÀµÀðzÀ°è £Á®ÄÌ ªÀÄAqÀ½¸À¨sÉUÀ¼À£ÀÄß £ÀqÉ¸À¯ÁVgÀÄvÀÛzÉ. F À¨sÉUÀ¼À£ÀÄß ¢£ÁAPÀ 17.07.2020, 02.09.2020, 28.12.2020,29.03.2021 gÀAzÀÄ £ÀqÉ À ÁVgÀÄvÀÛzÉ. JgÀqÀÄ À sÉUÀ¼À £ÀqÀÄ«£À CAvÀgÀ ±Á À£À§zÀÞ ¤AiÀÄªÀiÁªÀ½UÀ¼À«ÄwAiÀÄ C£ÀÄ¸ÁgÀ EgÀÄvÀÛzÉ.

PÀA¥À¤AiÀÄ 74£ÉÃ ªÁ¶ðPÀ ¸ÁªÀiÁ£Àå ¸À sÉAiÀÄ£ÀÄß ¢£ÁAPÀ : 25-09-2020gÀAzÀÄ PÀA¥À¤AiÀÄ£ÉÆAzÁ¬ÄvÀ PÀZÉÃjAiÀÄ°è dgÀÄV¸À¯ÁVzÉ.

Drmï PÀ«Än, £Á«Ä£ÉÃµÀ£ï & gÉªÀÄÆå£ÀgÉÃµÀ£ï PÀ«Än & ÉÖÃPï ºÉÆÃ®Øgïì j¯ÉÃµÀ£ï¶¥ï PÀ«ÄngÀZÀ£É £ÀªÀÄä PÀA¥À¤UÉ C£Àé¬Ä ÀÄªÀÅ¢®è.

8. DqÀ½vÀ ªÀÄAqÀ½AiÀÄ ªÁ¶ðPÀ O¥ÀZÁjPÀ ªÀiË®åªÀiÁ¥À£ÀzÀ §UÉÎ :

£ÀªÀÄä PÀA¥À¤AiÀÄÄ PÀ£ÁðlPÀ ¸ÀPÁðj ¸ÁéªÀÄåzÀ PÀA¥À¤AiÀiÁVzÀÄÝ, ¤zÉÃð±ÀPÀgÀÄUÀ¼À£ÀÄß ¸ÀPÁðgÀªÉÃ£ÉÃªÀÄPÀ ªÀiÁqÀÄªÀÅzÀjAzÀ CªÀgÀ ªÀiË®åªÀiÁ¥À£ÀªÀ£ÀÄß ÀPÁðgÀªÀÅ ¤UÀ¢ü¥Àr¹gÀÄªÀ ªÀiÁ£ÀzÀAqÀUÀ¼À¥ÀæPÁgÀ ªÀiË®åªÀiÁ¥À£À £ÀqÉAiÀÄÄvÀÛzÉ. PÁ¥ÉÆÃðgÉÃmï C¥sÉÃgïì ªÀÄAvÁæ®AiÀÄ, sÁgÀvÀ ÀPÁðgÀ, EzÀgÀC¢ü ÀÆZÀ£É ¢£ÁAPÀ 05-06-2015gÀ jÃvÁå ÀPÁðj PÀA¥À¤UÀ¼À ¤zÉÃð±ÀPÀgÀ ªÁ¶ðPÀ ªÀiË®åªÀiÁ¥À£À¥ÀæQæAiÉÄ¬ÄAzÀ «£Á¬Äw EgÀÄvÀÛzÉ.

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9. ¤zÉðÃ±ÀPÀgÀ dªÁ¨ÁÝj §UÉÎ ºÉÃ½PÉ :

PÀA¥À¤UÀ¼À PÁAiÉÄÝ, 2013 gÀ ¥ÀjZÉÒÃzÀ 134 (5) ¥ÀæPÁgÀ ¤ªÀÄä ¤zÉðÃ±ÀPÀgÀÄ zÀÈrüÃPÀj¸ÀÄªÀÅzÉÃ£ÉAzÀgÉ,

i. 2020-21£ÉÃ Á°£À ªÁ¶ðPÀ ÉPÀÌUÀ¼À£ÀÄß ÀªÀÄ¦ð¸ÀÄªÁUÀ C£ÀéAiÀÄªÁUÀÄªÀ ÉPÀÌ¥ÀvÀæ vÀAiÀiÁjPÁªÀiÁ£ÀzÀAqÀUÀ¼À£ÀÄß C£ÀÄ Àj À ÁVzÉ.

ii. ªÀiÁZïð 31, 2021 gÀAzÀÄ EzÀÝAvÉ PÀA¥À¤AiÀÄ ÀªÀÄUÀæ ªÀåªÀºÁgÀzÀ ¹ÜwAiÀÄ §UÉÎ ºÁUÀÆ K¦æ ï1, 2020 jAzÀ ªÀiÁZïð 31, 2021 gÀ ªÀgÉV£À CªÀ¢üAiÀÄ°è£À PÀA¥À¤AiÀÄ ¯Á sÀ ªÀÄvÀÄÛ £ÀµÀÖzÀSÁvÉAiÀÄ £ÉÊd ºÁUÀÆ £ÁåAiÉÆÃavÀªÁzÀ avÀæt ¤ÃqÀ®Ä C£ÀÄªÁUÀÄªÀ jÃwAiÀÄ°è ¸ÀÆPÀÛ ¯ÉPÀÌ¥ÀvÀæ ¤ÃwUÀ¼À£ÀÄß DAiÉÄÌ ªÀiÁrPÉÆAqÀÄ CªÀÅUÀ¼À£ÀÄß ÀvÀvÀªÁV C£ÀÄ Àj ÀÄvÁÛ §A¢zÀÄÝ «ªÉÃZÀ£ÁAiÀÄÄPÀÛºÁUÀÆ «ªÉÃPÀ¥ÀÆtð wÃªÀiÁð£À ªÀÄvÀÄÛ CAzÁdÄUÀ¼À£ÀÄß ªÀiÁqÀ¯ÁVzÉ.

iii. PÀA¥À¤AiÀÄ D¹ÛUÀ¼À gÀPÀëuÉUÉ ªÀÄvÀÄÛ ªÉÆÃ À ªÀÄvÀÄÛ ªÀAZÀ£ÉAiÀÄ£ÀÄß vÀqÉUÀlÖ®Ä ªÀÄvÀÄÛ ¥ÀvÉÛ ºÀZÀÑ®ÄPÀA¥À¤UÀ¼À C¢ü¤AiÀÄªÀÄ, 2013 gÀ G¥À§AzsÀUÀ½UÀ£ÀÄUÀÄtªÁV ÀÆPÀÛ ÉPÀÌ¥ÀvÀæUÀ¼À zÁR ÉUÀ¼À£ÀÄßElÄÖPÉÆArzÀÄÝ ÁPÀµÀÄÖ ÀªÀÄ¥ÀðPÀªÁzÀ JZÀÑjPÉAiÀÄ£ÀÄß ªÀ» À ÁVzÉ.

iv. ªÁ¶ðPÀ ÉPÀÌ¥ÀvÀæUÀ¼À£ÀÄß ªÀÄÄAzÀÄªÀjAiÀÄÄwÛgÀÄªÀ ÀA ÉÜAiÉÄA§ DzsÁgÀzÀ ªÉÄÃ É vÀAiÀiÁj À ÁVzÉ.

v. ¤zÉÃð±ÀPÀgÀ ªÀÄAqÀ½ PÀA¥À¤AiÀÄ DAvÀjPÀ ºÀtPÁ ÀÄ ¤ªÀðºÀuÉ §UÉÎ ªÀÄvÀÄÛ CzÀgÀ ¤ªÀðºÀuÉÀÄUÀªÀÄªÁV DVgÀÄªÀÅzÀgÀ §UÉÎ UÀªÀÄ£À ºÀj¹gÀÄvÁÛgÉ.

vi. ¤zÉÃð±ÀPÀ ªÀÄAqÀ½ J¯Áè PÁ£ÀÆ£ÀÄ PÀæªÀÄUÀ¼ÀÄ ¥Àj¥Á®£É DVgÀÄªÀ ÀA§AzsÀ ªÀåªÀ¹ÜvÀ PÀæªÀÄªÀ£ÀÄßPÉÊUÉÆArgÀÄvÁÛgÉ.

10. µÉÃgÀÄ §AqÀªÁ¼À :PÀA¥À¤AiÀÄ C¢üPÀÈvÀ §AqÀªÁ¼À gÀÆ. 1,50,00,000 EzÀÄÝ, ¤ÃqÀ®àlÖ ªÀÄvÀÄÛ ¥ÁªÀw À®àlÖ µÉÃgÀÄ §AqÀªÁ¼ÀgÀÆ. 1,03,65,500 DVgÀÄvÀÛzÉ. ¥Àæ ÀÄÛvÀ Á°£À°è Rule 4 (4), 8(13), 12(9) of Companies (Share

Capital and Debentures) Rules, 2014, CrAiÀÄ°è ¤ÃqÀ ÉÃPÁzÀ ¥ÀæPÀluÉAiÀÄÄ £ÀªÀÄä PÀA¥À¤UÉC£Àé¬Ä ÀÄªÀÅ¢®è. ªÀÄÄAzÀÄªÀgÉzÀÄ F ¸Á°£À°è AiÀiÁªÀÅzÉÃ ÉÆÃ£À ï µÉÃgÀÄUÀ¼À£ÀÄß ¤ÃrgÀÄªÀÅ¢®èªÀÄvÀÄÛ AiÀiÁªÀÅzÉÃ µÉÃgÀÄUÀ¼À£ÀÄß Buy back ªÀiÁrgÀÄªÀÅ¢®è.

11. ±ÀQÛ ÀAgÀPÀëuÉ, ÀA±ÉÆÃzsÀ£É ªÀÄvÀÄÛ C©üªÀÈ¢Þ, vÀAvÀæeÁÕ£À «°Ã£À, «zÉÃ² «¤ªÀÄAiÀÄ UÀ½PÉ ºÁUÀÆ ªÉZÀÑ:

PÀA¥À¤UÀ¼À PÁAiÉÄÝ 2013 gÀ ¥ÀjZÉÒÃzÀ 134(3)(m) gÉÆA¢UÉ NzÀ®àqÀÄªÀ PÀA¥À¤UÀ¼À ¤AiÀÄªÀÄUÀ¼ÀÄ,2014 gÀ°è ¤UÀ¢¥Àr¸À¯ÁzÀ «ªÀgÀUÀ¼À£ÀÄß PÉ¼ÀV£ÀAvÉ vÉÆÃj¸À¯ÁVzÉ.

(C) ±ÀQÛ ÀAgÀPÀëuÉ : PÀA¥À¤AiÀÄ PÁAiÀÄð¤ªÀðºÀuÉUÀ¼ÀÄ PÀrªÉÄ ±ÀQÛ §¼ÀPÉAiÀÄ£ÀÄß M¼ÀUÉÆArgÀÄvÀÛªÉ.ªÀÄÄAzÀÄªÀgÉzÀÄ, PÀA¥À¤AiÀÄÄ £ÀªÀÄÆ£É-J gÀ°è MzÀV À ÉÃPÁzÀAxÀ G¢ÝªÉÄUÀ¼À ¥ÀnÖAiÀÄ°è ÉÃj®èªÁzÀÝjAzÀ§»gÀAUÀ¥Àr ÀÄªÀ CUÀvÀåvÉUÀ¼ÀÄ PÀA¥À¤UÉ C£Àé¬Ä ÀÄªÀÅ¢®è. DzÁUÀÆå ±ÀQÛ ÀAgÀPÀëuÉUÉ ÀÆPÀÛ PÀæªÀÄUÀ¼À£ÀÄßPÉÊUÉÆ¼Àî¯ÁVzÉ. ªÀÄÄAzÀÄªÀgÉzÀÄ PÀA¥À¤AiÀÄÄ ºÁ° EgÀÄªÀ lÆå¨ï¯ÉÊmïìUÀ¼À eÁUÀzÀ°è ¹J¥sïJ¯ï,J¯ïEr §¯ïâUÀ¼À£ÀÄß C¼ÀªÀr¸À¯ÁVzÉ.

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(D) vÀAvÀæeÁÕ£À «°Ã£À, C¼ÀªÀrPÉ ªÀÄvÀÄÛ §zÀ ÁªÀuÉ :¥Àæ ÀÄÛvÀ ªÀµÀðzÀ°è PÀA¥À¤AiÀÄÄ AiÀiÁªÀÅzÉÃ vÀAvÀæeÁÕ£ÀªÀ£ÀÄß DªÀÄzÀÄ ªÀiÁrPÉÆArgÀÄªÀÅ¢®è ºÁUÀÆGvÁàzÀPÀvÉ ªÀÄvÀÄÛ GvÁà¢ ÀÄªÀ GvÀà£ÀßUÀ¼À UÀÄtªÀÄlÖ ÀÄzsÁgÀuÉUÉ E°èAiÉÄÃ ® sÀå«gÀÄªÀ vÀAvÀæeÁÕ£ÀUÀ¼ÀG¥ÀAiÉÆÃUÀªÀ£ÀÄß ªÀÄÄAzÀÄªÀgÉ¹gÀÄvÀÛzÉ.

(E) ÀA±ÉÆÃzsÀ£É ªÀÄvÀÄÛ C©üªÀÈ¢Þ:

¥Àæ ÀPÀÛ ªÀµÀðzÀ°è PÀA¥À¤AiÀÄÄ gÀÆ. 5,10,000/-UÀ¼À£ÀÄß £ÁåµÀ£À¯ï E£ïìnlÆåmï D¥sï r¸ÉÊ£ï (J£ïLr) ( sÁgÀvÀ ÀPÁðgÀzÀ C¢üÃ£À ÀA ÉÜ), CºÀäzÁ¨Ázï, EªÀjUÉ C½ À ÁUÀzÀ ±Á¬Ä ¨Ál®ÄUÀ¼À«£Áå À C©üªÀÈ¢Þ ºÁUÀÆ §¼ÀPÉ ªÀÄvÀÄÛ ºÀZÀÄÑ«PÉ «zsÁ£ÀUÀ¼À §UÉÎ ÀA±ÉÆÃzsÀ£É, C©üªÀÈ¢ÞUÁV¥ÁªÀw À ÁVgÀÄvÀÛzÉ.

(F) «zÉÃ² «¤ªÀÄAiÀÄUÀ½PÉ ºÁUÀÆ ªÉZÀÑ :

«zÉÃ² «¤ªÀÄAiÀÄ DzÁAiÀÄ ºÁUÀÆ §AqÀªÁ¼À ªÉZÀÑ ºÁUÀÆ gÁd Àé ªÀåAiÀÄUÀ¼À «ªÀgÀ F PÉ¼ÀPÀAqÀAvÉEgÀÄvÀÛzÉ.

«ªÀgÀ ¥Àæ ÀPÀÛ ªÀµÀð »A¢£À ªÀµÀð

gÀ¥sÀÄÛ ªÀ»ªÁn¤AzÀ UÀ½¹zÀ «zÉÃ² «¤ªÀÄAiÀÄ gÀÆ. 1,26,79,481.00 gÀÆ. 2,17,18,739.00

EvÀgÉ ªÀÄÆ®UÀ½AzÀ

UÀ½¹zÀ

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«¤ªÀÄAiÀÄ E®è E®è

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12. M¥ÀàAzÀzÀ «ªÀgÀUÀ¼ÀÄ :

¥Àæ ÀPÀÛ Á°£À°è PÀA¥À¤AiÀÄÄ 'Form AOC-2' £À°è §»gÀAUÀUÉÆ½ ÀÄªÀAxÀºÀ AiÀiÁªÀÅzÉÃ M¥ÀàAzÀUÀ¼À£ÀÄß

ªÀiÁrPÉÆArgÀÄªÀÅ¢®è. PÁ¥ÉÆÃðgÉÃmï C¥sÉÃgïì ªÀÄAvÁæ®AiÀÄ, sÁgÀvÀ ÀPÁðgÀ, EzÀgÀ C¢ü¸ÀÆZÀ£É

¢£ÁAPÀ 05-06-2017gÀ ¥ÀæPÁgÀ 2013gÀ PÀA¥À¤UÀ¼À PÁ¬ÄzÉ PÁ®A 188(1) ¤AiÀÄªÀÄUÀ¼ÀÄ

ºÉÃ¼ÀÄªÀAvÉ JgÀqÀÄ ¸ÀPÁðj PÀA¥À¤UÀ¼À £ÀqÀÄªÉ dgÀÄUÀ§ºÀÄzÁzÀ ªÀåªÀºÁgÀUÀ½UÉ F ¤AiÀÄªÀÄ

C£Àé¬Ä ÀÄªÀÅ¢®è.

13. ¸Á®, SÁvÀj ªÀÄvÀÄÛ ºÀÆrPÉUÀ¼À «ªÀgÀUÀ¼ÀÄ :

PÀA¥À¤UÀ¼À PÁ¬ÄzÉ 2013 PÁ®A 186gÀ ¥ÀæPÁgÀ PÀA¥À¤AiÀÄÄ AiÀiÁªÀÅzÉÃ ¸Á® CxÀªÁ SÁvÀj

¤ÃrgÀÄªÀÅ¢®è ªÀÄvÀÄÛ AiÀiÁªÀÅzÉÃ ºÀÆrPÉ ªÀiÁrgÀÄªÀÅ¢®è.

14. C¥ÁAiÀÄ JzÀÄj ÀÄªÀ ¤ªÀðºÀuÁ ¤Ãw :

PÀA¥À¤AiÀÄÄ vÀ£Àß ¢£ÀªÀ» ªÀ»ªÁn£À°è JzÀÄj À§ºÀÄzÁzÀ C¥ÁAiÀÄUÀ¼À §UÉÎ ªÀåªÀ ÁÜ¥ÀPÀgÀÄUÀ¼À vÀAqÀ

¤UÁ ªÀ»¹gÀÄvÀÛzÉ. DqÀ½vÀ ªÀÄAqÀ½AiÀÄ C©ü¥ÁæAiÀÄzÀ ¥ÀæPÁgÀ PÀA¥À¤AiÀÄ ªÀ»ªÁnUÉ vÉÆqÀPÁUÀ§ºÀÄzÁzÀ

CAvÀºÀ C¥ÁAiÀÄUÀ¼ÀÄ EgÀÄªÀÅ¢®èªÉAzÀÄ w½zÀÄ§A¢zÉ.

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15. ¥Áæ¢üPÁgÀUÀ¼ÀÄ CxÀªÁ £ÁåAiÀiÁ®AiÀÄUÀ¼ÀÄ ¤ÃrgÀÄªÀ ªÀÄºÀvÀézÀ DzÉÃ±ÀUÀ¼À §UÉÎ :

PÀA¥À¤AiÀÄ C¹ÜvÀéPÉÌ CxÀªÁ ªÀ»ªÁnUÉ zÀPÉÌAiÀiÁUÀÄªÀAvÀºÀ AiÀiÁªÀÅzÉÃ ªÀÄºÀvÀézÀ DzÉÃ±ÀUÀ¼ÀÄ £ÁåAiÀiÁ®AiÀÄ

CxÀªÁ AiÀiÁªÀÅzÉÃ ±Á¸À£À §zÀÞ ¥Áæ¢üPÁgÀUÀ½AzÀ §A¢gÀÄªÀÅ¢®è.

16. PÀÀA¥À¤AiÀÄ ÀºÀ sÁVvÀézÀ°è ¤ªÀð»¹gÀÄªÀ CAUÀ ÀA ÉÜ CxÀªÁ ÀºÀªÀwðvÀ PÀA¥À¤UÀ¼ÀÄ :

¥Àæ ÀÄÛvÀ ¸Á°£À°è PÀA¥À¤AiÀÄÄ AiÀiÁªÀÅzÉÃ CAUÀ ÀA ÉÜUÀ¼ÀÄ CxÀªÁ ÀºÀ sÁVvÀézÀ CxÀªÁ ÀºÀªÀwðvÀ

PÀA¥À¤UÀ¼À£ÀÄß ºÉÆA¢gÀÄªÀÅ¢®è.

17. DAvÀjPÀ ÉPÀÌ¥Àj±ÉÆÃzsÀ£É ªÀÄvÀÄÛ ¤AiÀÄAvÀæt :

PÀA¥À¤UÀ¼À PÁAiÉÄÝ, 2013gÀ jÃvÁå DAvÀjPÀ ÉPÀÌ¥Àj±ÉÆÃzsÀPÀgÀ £ÉÃªÀÄPÁw F PÀA¥À¤UÉ C£Àé¬Ä ÀÄªÀÅ¢®è.

DzÁUÀÆå DqÀ½vÀ ªÀÄAqÀ½AiÀÄÄ PÀA¥À¤AiÀÄ ¢£ÀªÀ» ZÀlÄªÀnPÉUÀ¼À ªÉÄÃ¯É ¤gÀAvÀgÀ ¤UÁ

ªÀ» ÀÄªÀÅzÀPÉÆÌÃ ÀÌgÀ ªÀÄvÀÄÛ DVAzÁUÉÎ À®ºÉ ¥ÀqÉAiÀÄ®Ä DAvÀjPÀ ÉPÀÌ¥Àj±ÉÆÃzsÀPÀgÀ£ÀÄß £ÉÃ«Ä À ÁVgÀÄvÀÛzÉ.

18. PÀA¥À¤UÀ¼À PÁAiÉÄÝ 2013gÀ PÀqÁØAiÀÄ ¸ÁªÀiÁfPÀ ºÉÆuÉUÁjPÉ ªÉZÀÑ 2020-21£ÉÃ ¸Á°UÉ gÀÆ.

19,00,000/- UÀ¼À£ÀÄß PÀA¥À¤ PÁAiÉÄÝUÀ¼À jÃvÁå ¹.J¸ï.Dgï. CrAiÀÄ°è RZÀÄð ªÀiÁqÀ¯ÁVzÉ.

«ªÀgÀUÀ¼À£ÀÄß F ªÀgÀ¢UÉ ®UÀwÛ¹gÀÄªÀ C£ÀÄ§AzsÀ ‘¹’£À°è MzÀV À ÁVzÉ. (Annual Report on C.S.R.

Activities).

19. PÀA¥À¤AiÀÄ°è PÁAiÀÄð¤ªÀð» ÀÄwÛgÀÄªÀ ªÀÄ»¼Á GzÉÆåÃVUÀ¼À ÀÄgÀPÀëvÉUÁV Sexual Harrassment of

Women at work place (prevention, prohibition and Redressal) Act , 2013, gÀrAiÀÄ°è ‘DAvÀjPÀzÀÆgÀÄ ¸À«Äw'AiÀÄ£ÀÄß gÀa¸À¯ÁVgÀÄvÀÛzÉ. 2020-21£ÉÃ ¸Á°£À°è AiÀiÁªÀÅzÉÃ zÀÆgÀÄUÀ¼ÀÄ¹éÃPÀÈvÀªÁVgÀÄªÀÅ¢®è.

20. ªÀiÁ£ÀªÀ ÀA¥À£ÀÆä® ªÀÄvÀÄÛ PÉÊUÁjPÁ ¨ÁAzsÀªÀå :

2020-21£ÉÃ Á°£À°è PÀA¥À¤AiÀÄ DqÀ½vÀ ªÀUÀð ªÀÄvÀÄÛ £ËPÀgÀgÀ £ÀqÀÄªÉ ËºÁzsÀðAiÀÄÄvÀ ÁAzsÀªÀåªÀ£ÀÄßºÉÆAzÀ ÁVgÀÄvÀÛzÉ.

21. ªÁ¶ðPÀ ¥ÀæªÀiÁt ¥ÀvÀæ :

2013gÀ PÀA¥À¤ PÁ¬ÄzÉ, PÁ®A 134 (3) (J) ¥ÀæPÁgÀ À°è¸À¨ÉÃPÁzÀ ªÁ¶ðPÀ ¥ÀæªÀiÁt ¥ÀvÀæªÀ£ÀÄß FªÀgÀ¢UÉ C£ÀÄ§A¢ü¹ ¤ÃqÀ¯ÁVzÉ. (MGT-9) (C£ÀÄ§AzsÀ - J).

22. PÀA¥À¤AiÀÄ µÉÃgÀÄUÀ¼À r°¹ÖAUï §UÉÎ :

J¯Áè µÉÃgÀÄ ªÀUÁðªÀuÉ ªÀÄvÀÄÛ zÁR¯Áw ¥ÀÄ ÀÛPÀUÀ¼À ¤ªÀðºÀuÉAiÀÄ£ÀÄß PÀA¥À¤AiÀÄ £ÉÆAzÁ¬ÄvÀPÀZÉÃjAiÀÄ°è ¤ªÀð» À ÁUÀÄwÛzÉ.

²æÃ ¹. ºÀgÀPÀÄªÀiÁgï, EªÀgÀ£ÀÄß ¥Àæ sÁgÀ PÀA¥À¤ PÁAiÀÄðzÀ²ð JAzÀÄ ¤AiÀÄÄQÛUÉÆ½¸À¯ÁVzÀÄÝ EªÀgÀÄPÀA¥À¤AiÀÄ ¥Á®£Á C¢üPÁjAiÀiÁVgÀÄvÁÛgÉ.

12


86,155 FQén µÉÃgÀÄUÀ¼ÀÄ ÉAUÀ¼ÀÆgÀÄ ÁÖPï JPïìZÉÃAeï£À°è °¹ÖAUï DVzÀÄÝ, ºÁ° ÉAUÀ¼ÀÆgÀÄ ÁÖPïJPïìZÉÃAeï ÀéAiÀÄA¥ÉæÃjvÀªÁV ªÀÄÄaÑgÀÄªÀÅzÀjAzÀ C°è °¹ÖAUï DVzÀÝ 86,155 FQén µÉÃgÀÄUÀ¼À£ÀÄß¨ÁA É ¸ÁÖPï JPïìZÉÃAeï£À r É«Ä£ÉÃµÀ£ï ÉÆÃqïð£À°è Ej À ÁVzÉ. PÀA¥À¤UÀ¼À PÁ¬ÄzÉ 2013gÀ¥ÀæPÁgÀ ªÀÄvÀÄÛ ÀA§A¢ü¹zÀ ¤AiÀÄªÀÄUÀ¼À ¥ÀæPÁgÀ PÀA¥À¤AiÀÄÄ °¹ÖAUï ªÀiÁ£ÀåvÉAiÀÄ£ÀÄß PÀ¼ÉzÀÄPÉÆArgÀÄvÀÛzÉ.ÀzÀåPÉÌ PÀA¥À¤AiÀÄÄ ÉÃgÉ ÁÖPï JPïìZÉÃAeï£À°è ÀzÀj µÉÃgÀÄUÀ¼À£ÀÄß °¹ÖAUï ªÀiÁr À®Ä EaÒ¹®èªÁzÀÝjAzÀ

ªÀÄAqÀ½AiÀÄÄ FUÁUÀ ÉÃ µÉÃgÀÄzÁgÀjUÉ Exit CªÀPÁ±ÀªÀ£ÀÄß PÀ°à À ÁVzÉ. F ¸ÀA§AzsÀ SEBI

¤AiÀÄªÀiÁªÀ½UÀ¼À ¥ÀæPÁgÀ ¨ÁQ EgÀÄªÀ J¯Áè PÀæªÀÄUÀ¼À£ÀÄß PÉÊUÉÆ¼Àî¯ÁUÀÄwÛzÉ.

23. oÉÃªÀtÂUÀ¼ÀÄ :

¥Àæ ÀÄÛvÀ Á°£À°è PÀA¥À¤AiÀÄÄ AiÀiÁªÀÅzÉÃ oÉÃªÀtÂUÀ¼À£ÀÄß PÀA¥À¤UÀ¼À PÁ¬ÄzÉ 2013gÀ CrAiÀÄ°è §gÀÄªÀDeposits ªÁåSÁå£ÀzÀ ¥ÀæPÁgÀ ¹éÃPÀj¹gÀÄªÀÅ¢®è.

24. ÉPÀÌ ¥Àj±ÉÆÃzsÀPÀgÀÄ :

C) ±Á À£À§zÀÞ ÉPÀÌ¥Àj±ÉÆÃzsÀPÀgÀÄ :

PÀA¥À¤UÀ¼À PÁAiÉÄÝ 2013 gÀ ¥ÀjZÉÒÃzÀ 139gÀ ¥ÀæPÁgÀ ªÉÄ|| J¯ï.Dgï. ¥ÀæPÁ±ï & PÉÆÃ., ZÁlðqïðCPËAmÉAmïì, ªÉÄÊ¸ÀÆgÀÄ EªÀgÀÄ 2020-21£ÉÃ ¸Á°UÉ ±Á¸À£À§zÀÞ ¯ÉPÀÌ ¥Àj±ÉÆÃzsÀPÀgÁV£ÉÃªÀÄPÀUÉÆArgÀÄvÁÛgÉ.

±Á¸À£À§zÀÞ ÉPÀÌ¥Àj±ÉÆÃzsÀPÀgÀ nÃPÉ: n¥ÀàtÂ/C©ü¥ÁæAiÀÄUÀ¼À£ÀÄß UÀªÀÄ¤¸À¯ÁVzÉ ºÁUÀÆ GvÀÛgÀUÀ¼À£ÀÄßF ªÀgÀ¢UÉ ®UÀwÛ¹gÀÄªÀ C£ÀÄ§AzsÀzÀ°è MzÀV¸À¯ÁVzÉ.

PÀA¥À¤UÀ¼À PÁAiÉÄÝ 2013gÀ ¥ÀæPÁgÀ ¯ÉPÀÌ ¥Àj±ÉÆÃzsÀPÀjUÉ ¤ÃqÀ¨ÉÃPÁzÀ ¸ÀA¨sÁªÀ£ÉAiÀÄ£ÀÄß ªÁ¶ðPÀ¸ÁªÀiÁ£Àå À sÉAiÀÄ°è ¤UÀ¢¥Àr À ÉÃPÁVgÀÄvÀÛzÉ ºÁUÀÆ EzÀPÉÌ ÀzÀ ÀågÀÄUÀ¼À ÀªÀÄäwAiÀÄ£ÀÄß PÉÆÃgÀ ÁVzÉ.

PÀA¥À¤UÀ¼À C¢ü¤AiÀÄªÀÄ, 2013gÀ ¥ÀjZÉÒÃzÀ 143 (6)(©)gÀ ¥ÀæPÁgÀ 31£ÉÃ ªÀiÁZïð, 2021 PÉÌCAvÀåUÉÆAqÀ ªÀµÀðzÀ PÀA¥À¤AiÀÄ ÉPÀÌ¥ÀvÀæUÀ¼À ªÉÄÃ É sÁgÀvÀzÀ ¤AiÀÄAvÀæPÀgÀÄ ªÀÄvÀÄÛ ªÀÄºÁ ÉÃR¥Á®gÀªÀgÀªÀgÀ¢/nÃPÉ n¥ÀàtÂUÀ¼À£ÀÄß F ªÀgÀ¢UÉ ®UÀwÛ¸À¯ÁVzÉ.

D) DAvÀjPÀ ÉPÀÌ¥Àj±ÉÆÃzsÀPÀgÀÄ :

2020-21£ÉÃ Á°UÉ ªÉÄ|| J. «±Àé£Áxï CAqï C ÉÆÃ¹AiÉÄÃmïì, ZÁlðqïð CPËAmÉAmïì, ªÉÄÊ ÀÆgÀÄEªÀgÀ£ÀÄß PÀA¥À¤AiÀÄ DAvÀjPÀ ÉPÀÌ¥Àj±ÉÆÃzsÀPÀgÀ£ÁßV £ÉÃªÀÄPÀ ªÀiÁqÀ¯ÁVzÉ.

E) PÁ¸ïÖ Drlgïì : ªÉÄ|| f.J¸ï.Dgï. CAqï ÇÉÆÃ¹AiÉÄÃmïì, gÀªÀgÀ£ÀÄß DyðPÀ ªÀµÀð 2020-21PÉÌPÁ¸ïÖ CPËAmÉAlgÁV £ÉÃªÀÄPÀ ªÀiÁqÀ¯ÁVzÉ.

DrlgÀÄUÀ¼ÀÄ ¤ÃrgÀÄªÀ ªÁåSÁå£À / n¥ÀàtÂUÀ¼À£ÀÄß UÀªÀÄ¤ À ÁVzÀÄÝ F ÀA§AzsÀ ¤ÃrgÀÄªÀ ªÀgÀ¢AiÀÄ£ÀÄßF ªÀgÀ¢UÉ ®UÀwÛ¹zÉ (C£ÀÄ§AzsÀ - ©).

25. EvÀgÉÃ «µÀAiÀÄUÀ¼ÀÄ :

C) ¸ÁªÀiÁ£Àå ¸À¨sÉUÀ¼ÀÄ : »A¢£À ªÀÄÆgÀÄ ªÀµÀðUÀ¼À°è £ÀqÉzÀ ªÁ¶ðPÀ ¸ÁªÀiÁ£Àå ¸À¨sÉUÀ¼À ¸ÀÜ¼ÀÀ,

13


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ªÀµÀð ¸ÀÜ¼À ¢£ÁAPÀ ªÀÄvÀÄÛ ÀªÀÄAiÀÄ CAVÃPÁgÀªÁzÀ «±ÉÃµÀ £ÀqÀªÀ½

2017-18 £ÉÆAzÁ¬ÄvÀ PÀZÉÃj 28.09.2018 (¨É.11.30 WÀA) «±ÉÃµÀ £ÀqÀªÀ½ CAVÃPÁgÀªÁV®è



PÀA¥À¤AiÀÄÄ »A¢£À ªÀÄÆgÀÄ ªÀµÀðUÀ¼À°è AiÀiÁªÀÅzÉÃ ÇÁzsÁgÀt ÁªÀiÁ£Àå À sÉUÀ¼À£ÀÄß £ÀqÉ¹gÀÄªÀÅ¢®è.

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13-11-2021gÀ ªÀgÉUÉ ªÀÄÄZÀÑ®àqÀÄvÀÛªÉ.

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CªÀ¢üAiÀÄ°è ¥ÁªÀw À ÁUÀÄªÀÅzÀÄ.

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1. sÁgÀvÀzÀ PÉÃAzÀæ ÀPÁðgÀ ºÉÆgÀr¹gÀÄªÀ PÀA¥À¤UÀ¼À ( ÉPÀÌ ¥Àj±ÉÆÃzsÀPÀgÀ ªÀgÀ¢) DzÉÃ±À, 2016('DzÉÃ±À') zÀ°è ¤zÉÃð²¹gÀÄªÀ ¥ÀæPÁgÀ, PÀA¥É¤UÀ¼À PÁAiÉÄÝ, 2013 gÀ ¥ÀjZÉÒÃzÀ 143 gÀ G¥À« sÁUÀ(11) gÀ ¥ÀæPÁgÀ, £ÁªÀÅ "C£ÀÄ§AzsÀ B" AiÀÄ°è C£ÀéAiÀÄªÁUÀÄªÀµÀÄÖ ªÀÄnÖUÉ, DzÉÃ±ÀzÀ PÀArPÉUÀ¼ÀÄ 3ªÀÄvÀÄÛ 4 gÀ°è ¤¢ðµÀÖ¥Àr¹zÀ «µÀAiÀÄUÀ¼À §UÉÎ ºÉÃ½PÉAiÀÄ£ÀÄß ¤ÃqÀÄvÉÛÃªÉ.

18


2. £ÀªÀÄä ¯ÉPÀÌ¥Àj±ÉÆÃzsÀ£ÉAiÀÄ DzsÁgÀzÀ ªÉÄÃ¯É PÁ¬ÄzÉAiÀÄ ¥ÀjZÉÒÃzÀ 143 (3) gÀ ¥ÀæPÁgÀ £ÁªÀÅ FPÉ¼ÀV£ÀAvÉ ªÀgÀ¢ ¤ÃqÀÄvÉÛÃªÉ:

a. £ÀªÀÄä ÉPÀÌ¥Àj±ÉÆÃzsÀ£ÉAiÀÄ GzÉÝÃ±ÀUÀ½UÁV £ÀªÀÄä CvÀÄåvÀÛªÀÄ eÁÕ£À ªÀÄvÀÄÛ £ÀA©PÉUÀ¼ÀAvÉ CUÀvÀåªÁzÀJ®è ªÀiÁ»w ªÀÄvÀÄÛ «ªÀgÀuÉUÀ¼À£ÀÄß £ÁªÀÅ PÉÃ½zÉÝÃªÉ ªÀÄvÀÄÛ ¥ÀqÉzÀÄPÉÆArzÉÝÃªÉ.

b. £ÀªÀÄä C©ü¥ÁæAiÀÄzÀ°è, PÁ£ÀÆ¤£À ¥ÀæPÁgÀ ¤¢ðµÀÖ¥Àr¸À¯ÁVgÀÄªÀ ¸ÀjAiÀiÁzÀ SÁvÉAiÀÄ ¥ÀÅ¸ÀÛPÀUÀ¼À£ÀÄßÀA ÉÜAiÀÄÄ ¤ªÀð» ÀÄwÛzÉ, CzÀÄ D ¥ÀÅ ÀÛPÀUÀ¼À ¥ÀjÃPÉë¬ÄAzÀ PÀAqÀÄ§gÀÄvÀÛzÉ.

c. F ªÀgÀ¢UÉ ÀA§A¢ü¹zÀ ¨Áå É£ïì ²Ãmï, ¯Á sÀ ªÀÄvÀÄÛ £ÀµÀÖzÀ ºÉÃ½PÉ ªÀÄvÀÄÛ £ÀUÀzÀÄ ºÀj«£ÀºÉÃ½PÉUÀ¼ÀÄ SÁvÉAiÀÄ ¥ÀÅ ÀÛPÀUÀ¼ÉÆA¢UÉ M¥ÀàAzÀzÀ°èªÉ.

d. £ÀªÀÄä C©ü¥ÁæAiÀÄzÀ°è, ªÉÄÃ°£À ÀévÀAvÀæ ºÀtPÁ ÀÄ ºÉÃ½PÉUÀ¼ÀÄ PÀA¥É¤UÀ¼À (SÁvÉUÀ¼ÀÄ) ¤AiÀÄªÀÄUÀ¼ÀÄ,2014 gÀ ¤AiÀÄªÀÄ 7 gÉÆA¢UÉ N¢zÀAvÉ, PÁ¬ÄzÉAiÀÄ ¥ÀjZÉÒÃzÀ 133 gÀ CrAiÀÄ°è ¤¢ðµÀÖ¥Àr¹zÀÉPÀÌ¥Àj±ÉÆÃzsÀPÀ ªÀiÁ£ÀzÀAqÀUÀ½UÉ C£ÀÄUÀÄtªÁVgÀÄªÀªÀÅ,

e. PÀA¥É¤UÀ¼À PÁAiÉÄÝ, 2013 gÀ ¥ÀjZÉÒÃzÀ 164 gÀ G¥À« sÁUÀ (2) F ÀA ÉÜUÉ C£Àé¬Ä ÀÄªÀÅ¢®è. C¢ü ÀÆZÀ£ÉG¯ÉèÃR 463(E); ¥sÉÇÃ°AiÉÆÃ ÀASÉå 1/2/2014-CL.V; ¢£ÁAPÀ: 5 dÆ£ï, 2015 C£ÀÄß £ÉÆÃr.

f. ÀA ÉÜAiÀÄ ºÀtPÁ ÀÄ ªÀgÀ¢ ¤ÃqÀÄ«PÉAiÀÄ ªÉÄÃ°£À DAvÀjPÀ ºÀtPÁ ÀÄ ¤AiÀÄAvÀætUÀ¼À ÀªÀÄ¥ÀðPÀvÉªÀÄvÀÄÛ CAvÀºÀ ¤AiÀÄAvÀætUÀ¼À PÁAiÀiÁðZÀgÀuÉAiÀÄ ¥ÀjuÁªÀÄPÁjvÀéUÀ¼À ÀA§AzsÀªÁV, “C£ÀÄ§AzsÀ C”£À°ègÀÄªÀ £ÀªÀÄä ¥ÀævÉåÃPÀ ªÀgÀ¢AiÀÄ£ÀÄß £ÉÆÃr.

g. PÀA¥É¤UÀ¼À ( ÉPÀÌ¥Àj±ÉÆÃzsÀ£É ªÀÄvÀÄÛ ÉPÀÌ ¥Àj±ÉÆÃzsÀPÀgÀÄ) ¤AiÀÄªÀÄUÀ¼ÀÄ, 2014 gÀ ¤AiÀÄªÀÄ 11 gÀ¥ÀæPÁgÀ ÉPÀÌ¥Àj±ÉÆÃzsÀPÀgÀ ªÀgÀ¢AiÀÄ°è ÉÃj À ÉÃPÁzÀ EvÀgÉ «µÀAiÀÄUÀ½UÉ ÀA§A¢ü¹zÀAvÉ, £ÀªÀÄäC©ü¥ÁæAiÀÄzÀ°è ºÁUÀÆ £ÀªÀÄä CvÀÄåvÀÛªÀÄ ªÀiÁ»w ªÀÄvÀÄÛ £ÀªÀÄUÉ ¤ÃqÀ ÁVgÀÄªÀ «ªÀgÀuÉUÀ¼À ¥ÀæPÁgÀ:

i. ÀA ÉÜAiÀÄÄ vÀ£Àß ºÀtPÁ¹£À ºÉÃ½PÉUÀ¼À°è vÀ£Àß DyðPÀ ¹ÜwAiÀÄ ªÉÄÃ É ¨ÁQ EgÀÄªÀ zÁªÉUÀ¼À¥ÀjuÁªÀÄªÀ£ÀÄß vÀ£Àß ºÀtPÁ¹£À ºÉÃ½PÉUÀ¼À°è §»gÀAUÀ¥Àr¹zÉ - ‘n¥ÀàtÂ 26 (xxiii) (c) - EvÀgÉºÉZÀÄÑªÀj n¥ÀàtÂUÀ¼ÀÄ/ªÀiÁ»w' C£ÀÄß £ÉÆÃr.

ii. ÀA ÉÜAiÀÄÄ AiÀiÁªÀÅzÉÃ ¥ÀjuÁªÀÄPÁj £ÀµÀÖUÀ¼ÁUÀÄªÀAvÉ PÁtÄªÀ, GvÀà£Àß, M¥ÀàAzÀUÀ¼ÀÄ ÉÃjzÀAvÉ,AiÀiÁªÀÅzÉÃ ¢ÃWÁðªÀ¢üAiÀÄ M¥ÀàAzÀUÀ¼À£ÀÄß ºÉÆA¢gÀ°®è,

iii. ÀA ÉÜAiÀÄÄ ºÀÆrPÉzÁgÀgÀ ²PÀët ªÀÄvÀÄÛ ÀAgÀPÀëuÁ ¤¢üUÉ ªÀUÁð¬Ä À ÉÃPÁzÀ ªÉÆvÀÛUÀ¼À£ÀÄß ªÀUÁð¬Ä À®ÄAiÀiÁªÀÅzÉÃ «¼ÀA§ªÀ£ÀÄß ªÀiÁr®è.

3. EzÀ®èzÉ, PÀA¥À¤UÀ¼À PÁAiÉÄÝ 2013 gÀ ¥ÀjZÉÒÃzÀ 143 (5) gÀ ¤§AzsÀ£ÉUÉ C£ÀÄ¸ÁgÀªÁV ªÀÄvÀÄÛsÁgÀvÀzÀ ¤AiÀÄAvÀæPÀ ªÀÄvÀÄÛ ªÀÄºÁ¯ÉÃR¥Á®PÀgÀÄ ºÉÆgÀr¹zÀ ¤zÉÃð±À£ÀUÀ½UÉ C£ÀÄUÀÄtªÁV £ÁªÀÅ

F PÉ¼ÀV£ÀAvÉ ªÀgÀ¢ ªÀiÁqÀÄvÉÛÃªÉ:

19


1 Ln ªÀåªÀ ÉÜAiÀÄ ªÀÄÆ®PÀ J¯Áè CPËAnAUïªÀåªÀºÁgÀUÀ¼À£ÀÄß ¥ÀæQæAiÉÄUÉÆ½ À®Ä PÀA¥À¤AiÀÄÄªÀåªÀ ÉÜAiÀÄ£ÀÄß ºÉÆA¢zÉAiÉÄÃ? ºËzÀÄ JAzÁzÀgÉ,Ln ªÀ åª À¸ É ÜAi À Ä º ÉÆg ÀU É CPËAnAUïªÀ»ªÁlÄUÀ¼À£ÀÄß ÀA ÀÌj ÀÄªÀ ¥ÀjuÁªÀÄUÀ¼À£ÀÄßSÁvÉUÀ¼À ÀªÀÄUÀævÉAiÀÄ ªÉÄÃ É ªÀÄvÀÄÛ ºÀtPÁ¹£À¥ÀjuÁªÀÄUÀ¼À eÉÆvÉUÉ, AiÀiÁªÀÅzÁzÀgÀÆ EzÀÝgÉºÉÃ¼À§ºÀÄzÀÄ.

2 ¸Á®ªÀ£ÀÄß ªÀÄgÀÄ¥ÁªÀw¸À®Ä PÀA¥À¤AiÀÄÇÀªÀÄxÀðvÉ¬ÄAzÁV C¹ÛvÀézÀ°ègÀÄªÀ ¸Á®zÀ¥ÀÅ£ÀgÀðZÀ£É CxÀªÁ ¸Á® ªÀÄ£Áß ¥ÀæPÀgÀtUÀ¼ÀÄ/¸Á®UÀ¼ ÀÄ/¸Á®UÀ¼ ÀÄ/§rØ EvÁå¢UÀ¼ À£ ÀÄ ß¸Á®UÁgÀjAzÀ PÀA¥À¤UÉ ¤ÃqÀ ÁVzÉAiÉÄÃ? ºËzÀÄJAzÁzÀgÉ, DyðPÀ ¥ÀjuÁªÀÄªÀ£ÀÄß ºÉÃ¼À§ºÀÄzÀÄ.CAv Àº À ¥ À æ P À g ÀtU À¼ À£ À Ä ß ¸ ÀjAi À i ÁV¥ÀjUÀtÂ¸À¯ÁVzÉAiÉÄÃ? (¸Á®zÁvÀ£ÀÄ ¸ÀPÁðjPÀA¥À¤AiÀiÁVzÀÝgÉ, F ¤zÉÃð±À£ÀªÀÅ ¸Á®zÁvÀPÀA¥À¤AiÀÄ ±Á¸À£À§zÀÞ ¯ÉPÀÌ¥Àj±ÉÆÃzsÀPÀjUÀÆC£Àé¬Ä ÀÄvÀÛzÉ)

3 ¤¢üUÀ¼ÀÄ (C£ÀÄzÁ£ÀUÀ¼ÀÄ/ À©ìr EvÁå¢) PÉÃAzÀæ/gÁdå ¸ÀPÁðgÀ CxÀªÁ CzÀgÀ KeÉ¤ìUÀ½AzÀ¤¢ðµ À Ö A i ÉÆÃd£ ÉU À½U É ¹ é Ã P À j¹z À /¹éÃPÀj À§ºÀÄzÁzÀªÀÅ CzÀgÀ CªÀ¢ü ªÀÄvÀÄÛ µÀgÀvÀÄÛUÀ¼À¥ÀæPÁgÀ ÀjAiÀiÁV ÉPÀÌ ºÁQzÉAiÉÄÃ/§¼À¹zÉAiÉÄÃ?«ZÀ®£ÀzÀ ¥ÀæPÀgÀtUÀ¼À£ÀÄß ¥ÀnÖ ªÀiÁr.

SlNo.

Directions Disclosures

PÉÊ¦r ªÀåªÀ ÉÜAiÀÄ°è PÀA¥À¤AiÀÄÄ vÀ£Àß SÁvÉUÀ¼À¥ À Å¸ À ÛP ÀU À¼ À Ä ª ÀÄv ÀÄ Û zÁ¸Á Û£ À ÄU À¼ À£ À Ä ß¤ªÀð»¸ÀÄwÛzÉ. ªÀiÁå£ÀÄAiÀÄ¯ï ¹¸ÀÖA£À°è¤ªÀð» À ÁVgÀÄªÀ ªÀÄvÀÄÛ ªÀiÁå£ÉÃeïªÉÄAmïªÀÄvÀÄÛ CAvÀjPÀ Drlgï¤AzÀ ¥ÀæªÀiÁtÂÃPÀj À ÁzÀ zÁ¸ÁÛ£ÀÄ zÁR ÉUÀ¼À°è ® sÀå«gÀÄªÀzÀvÁÛA±ÀzÀ ¥ÀæPÁgÀ 2021 gÀ ªÀiÁZïð 31gÀAzÀÄ zÁ¸ÁÛ£ÀÄ C¼ÀªÀr¹PÉÆ¼Àî¯ÁVzÉ.

CAvÀºÀ AiÀiÁªÀÅzÉÃ ¥ÀæPÀgÀtUÀ½®è

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20


J¯ï.Dgï. ¥ÀæPÁ±ï ªÀÄvÀÄÛ PÀA¥À¤ZÁlðqï CPËAmÉAmï

ÀA ÉÜAiÀÄ £ÉÆÃAzÀtÂ # 002733S

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¥Á®ÄzÁgÀgÀÄÀzÀ ÀåvÀé # 026654)

UDIN: 21026654AAAAEA2483

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1. Additional Sub-directions :

1 C£ÀÄ§AzsÀ -1 gÀ°è M¼ÀUÉÆArgÀÄªÀ £ÀUÀzÀÄ ªÀÄvÀÄÛ¨ÁåAPï ¨Áå¯É£ïìUÀ½UÉ ¸ÀA§A¢ü¹zÀAvÉ ¯ÉPÀÌ¥Àj±ÉÆÃzsÀPÀgÀÄ J¯Áè ªÀ¸ÀÄÛUÀ¼À£ÀÄß ¥Àj²Ã°¹zÁÝgÉAiÉÄÃ. ¤¢ðµÀÖ C£ÀÄªÀvÀð£ÉUÀ¼À ÀAzÀ sÀðzÀ°è,CzÀÄ ªÀgÀ¢AiÀiÁVzÉAiÉÄÃ ?

2 PÀA¥À¤AiÀÄÄ AiÀiÁªÀÅzÉÃ «ªÀj¸À¯ÁUÀzÀ ¨Áå¯É£ïìªÀÄvÀÄÛ SÁvÉUÀ¼À£ÀÄß ¸À¸Éà£ïì ºÉqï CrAiÀÄ°èPÁAiÀÄð¤ªÀð» ÀÄwÛzÉAiÉÄÃ ?

3 PÀA¥À¤AiÀÄ ¨É¯É ¤ÃwAiÀÄÄ GvÁàzÀ£ÉAiÀÄ J¯Áè¹ÜgÀ ªÀÄvÀÄÛ ªÉÃjAiÀÄ§¯ï ªÉZÀÑ ªÀÄvÀÄÛ NªÀgïºÉqï£ÀºÀAaPÉAiÀÄ£ÀÄß M¼ÀUÉÆArgÀÄvÀÛzÉAiÉÄÃ ?

4 PÀA¥À¤Ai ÀÄÄ ¸Á ÖPï£ À ¨sËwP À ¥Àj²Ã®£É,C£ÀÄ¥ÀAiÀÄÄPÀÛ ªÀ¸ÀÄÛUÀ¼À §¼ÀPÉ ªÀÄvÀÄÛ PÉÆgÀvÉAiÀÄ¥ÀjuÁªÀÄ ªÀÄv ÀÄ Û ¨sËwPÀ ¥Àj²Ã®£ÉAi ÀÄ¸ÀªÀÄAiÀÄzÀ°è UÀªÀÄ¤¹zÀ ¥ÀjuÁªÀÄPÁjAiÀiÁzÀªÀåªÀ¸ÉÜAiÀÄ£ÀÄß ºÉÆA¢zÉAiÉÄÃ ?

¥Àj²Ã° À ÁVzÉ.

CAvÀºÀ AiÀiÁªÀÅzÉÃ Áå É£ïì ªÀÄvÀÄÛSÁvÉUÀ¼ÀÄ PÀAqÀÄ§A¢®è.

ºËzÀÄ - GvÁàzÀ£ÉAiÀÄ ¹ÜgÀ ªÀÄvÀÄÛ ªÉÃjAiÀÄ§¯ïªÉZÀÑ ªÀÄvÀÄÛ É ÉUÀ¼À£ÀÄß ¤UÀ¢¥Àr À ÁVzÉ ªÀÄvÀÄÛÉ ÉAiÀÄ°è M¼ÀUÉÆArgÀÄvÀÛzÉ

31/03/2021 gÀAvÉ PÀA¥À¤ ªÀiÁå£ÉÃeïªÉÄAmï¸ÁÖPïUÀ¼À£ÀÄß sËwPÀªÁV ¥Àj²Ã°¹zÉ ªÀÄvÀÄÛCzÀ£ÀÄß DAvÀjPÀ ¯ÉPÀ Ì ¥Àj±ÉÆÃzs ÀPÀgÀÄ¥Àj²Ã°¹zÁÝgÉ. ¸ÁÖPï£À C£ÀÄ¥ÀAiÀÄÄPÀ ÛªÀ ÀÄÛUÀ¼À£ÀÄß ¥Àj²Ã®£ÉAiÀÄ°è UÀÄgÀÄw À ÁVzÉªÀÄvÀÄÛ Drmï ÀªÀÄAiÀÄzÀ°è F ªÀµÀðzÀ°ègÀÆ. 1,413/-£ÀÄß G¥ÀAiÉÆÃV¹gÀÄªÀÅzÀÄPÀAqÀÄ§A¢zÉ.

ÀÜ¼À: ªÉÄÊ ÀÆgÀÄ¢£ÁAPÀ: 21 DUÀ¸ïÖ 2021

21


Mysore Paints & Varnish Limited, MysoreAnegundi Road, New Bannimantap Extension, Mysuru - 570 015

Sri N V Phaneesh

Hon’ble Chairman, MPVL

Dr. Chandrashekhar Doddamani

Managing Director

Sri Siddiq Pasha

Director

Jt. Secretary to Government, Commerce & Industries Dept.

Smt H.A. ShobhaDirector

Deputy Secretary to Govt., Finance Dept.

Sri Bharatha Kumar V

Director

AUDITORS : L.R. Prakash & Co.,

Chartered Accountants,

Mysuru

COST AUDITORS : M/s GSR & Associats

Cost Accountants, Mysuru

BANKERS : State Bank of India

Market Branch,

Mysuru

LEGAL ADVISORS : 1) Sri A. C. Narendra

Advocate,

Mysuru

2) Sri M.R. Suryakumar

Advocate

Mysuru

COMPANY SECRETARY : Sri N. Rajesh

Practising Company Secretary

Mysuru - 26

22


Registered Office and Factory

Mysore Paints & Varnish Limited, MysoreAnegundi Road, New Bannimantap Extension, Mysuru - 570 015

E-mail : [email protected]

Website : www.mysorepaints.karnataka.gov.in

CIN No. : U51434KA1947SGC000503

SALES DEPOTS

MYSURU

No. 21, Dhanvanthri Road,

Mysuru - 570 015

Phone : 0821-2429138

MADURAI

No. 69, (Upstairs)

South Masi Street,

Madurai - 625 001

Phone : 0452-2744671

Regional Office

#111, Near Samprathi Eye Hospital, Kumara Park West,

Bangalore - 560020

23


MYSORE PAINTS AND VARNISH LIMITED

(CIN - U51434KA1947SGC000503)

e-mail ID: [email protected] / www.mysorepaints.karnataka.gov.in

Phone – 0821 – 2493831 / 2497469

Anegundi Road, New Bannimantap Extension Post Office,

MYSORE – 570015, KARNATAKA

NOTICE

NOTICE is hereby given that the 75th Annual General Meeting of the Members of the Company

will be held on Saturday 13th day of Navember 2021 at 11.30 am at the Registered

Office of the Company to transact the following business:

ORDINARY BUSINESS:

1. To receive, consider and adopt the Audited Financial Statement of the Company for

the Financial Year ended on 31st March 2021, together with the Report of the Board

of Directors and Auditors thereon.

2. To declare Dividend on Equity Shares for the Financial Year ended on 31st March

2021.

3. To fix the remuneration payable to the Statutory Auditors of the Company.

By Order of the Board

For Mysore Paints & Varnish Limited

Sd/-

(Dr. Chandrashekhar Doddamani)

Managing Director

(DIN – 07918061)

Place: Mysuru

Date: 01-10-2021

24


Notes:

1. A MEMBER ENTITLED TO ATTEND AND VOTE AT THE MEETING

IS ENTITLED TO APPOINT A PROXY TO ATTEND AND VOTE ON HIS

/ HER BEHALF AND SUCH A PROXY NEED NOT BE A MEMBER OF

THE COMPANY. A PERSON CAN ACT AS A PROXY ON BEHALF OF

MEMBERS NOT EXCEEDING FIFTY AND HOLDING IN THE

AGGREGATE NOT MORE THAN TEN PERCENT OF THE TOTAL

SHARE CAPITAL OF THE COMPANY CARRYING VOTING RIGHTS.

A MEMBER HOLDING MORE THAN TEN PERCENT OF THE TOTAL

SHARE CAPITAL OF THE COMPANY CARRYING VOTING RIGHTS

MAY APPOINT A SINGLE PERSON AS PROXY AND SUCH PERSON

SHALL NOT ACT AS A PROXY FOR ANY OTHER PERSON OR

SHAREHOLDER.

2. THE INSTRUMENT APPOINTING THE PROXY MUST BE DEPOSITED

AT THE REGISTERED OFFICE OF THE COMPANY, DULY COMPLETED

AND SIGNED, NOT LESS THAN 48 HOURS BEFORE THE

COMMENCEMENT OF THE MEETING. PROXIES SUBMITTED ON

BEHALF OF THE COMPANIES, SOCIETIES, ETC., MUST BE

SUPPORTED BY AN APPROPRIATE RESOLUTION / AUTHORITY AS

APPLICABLE.

3. Members/ Proxies should bring duly filled Attendance Slips sent herewith to attend

the Meeting.

4. The Register of Members and Share Transfer Books will remain closed from

25.10.2021 to 13.11.2021 (Both days inclusive) for the purpose of payment of

Dividend.

5. Subject to the provisions of the Companies Act, 2013, Dividend as recommended

by the Board of Directors, if declared at the Meeting, shall be paid within a period

of 30 days from the date of declaration to those members whose names appear on

the Register of Members as 25.10.2021 (initial closure Date).

25


6. Members are requested to send their requests for any additional information on the

Financials of the Company for the period ended 31st March, 2021 at least 7 (Seven)

days before the scheduled date of the Meeting.

7. Members are requested to notify changes in their postal/ email addresses and

all other correspondences including Dividend matters to the Company Secretary-

In Charge, Mysore Paints & Varnish Limited, New Bannimantap Extension,

Mysore 570 015 or through email : [email protected]

8. Every member entitled to vote at the Annual General Meeting of the Company can

inspect the proxies lodged at the Company at any time during the business hours of

the Company during the period beginning twenty four hours before the time fixed for

the commencement of the Annual General Meeting and ending on the conclusion of

the meeting. However, a prior notice of not less than 3 (three) days in writing of the

intentions to inspect the proxies lodged shall be required to be provided to the

Company.

9. Members who wish to claim Dividend, which remained unclaimed, are requested to

correspond with Company Secretary- In Charge, at the Registered Office of the

Company. Members are requested to note that Dividends not enchased or not claimed

within seven years from the date of transfer to the Company’s Unpaid Dividend

Account, will, as per Section 124 of the Companies Act, 2013, (Section 205A of

the erstwhile Companies Act, 1956), be transferred to “Investor Education and

Protection Fund” (IEPF) established by the Central Government. Further Shares

in respect of such Dividend shall also be transferred to IEPF.

10. MPVL is concerned about the environment and utilizes natural Resources in a

sustainable way. Ministry of Corporate Affairs (MCA), Government of India,

through its Circular Nos. 17/2011 and 18/2011, dated April 21,2011 and April 29,

2011 respectively, has allowed Companies to send official documents to their

shareholders electronically as a part of its green initiatives in Corporate

Governance. Recognizing the spirit of the circular issued by the MCA, we

henceforth propose to send documents such as Notice convening the General

26


Meeting, Financial Statements, Directors Report, Auditors Report, etc to the

email address provided by shareholders to the Company. The Company wishes

to go completely paperless and cooperation in this regard is solicited from the

Shareholders of the Company. The Shareholders, who wish to receive the Annual

Report of the Company through e-mail may provide their e-mail address to the

Company.

Please Note that the Annual Report of the Company will also be available on

the Company’s website www.mysorepaints.karnataka.gov.in for ready reference.

11. The Securities and Exchange Board of India (SEBI) has mandated the submission of the

Permanent Account Number (PAN) by every participant in the Securities Market.

Therefore, Members are requested to submit their PAN details to the Company.

12. In the case of the Joint-holders attending the Meeting, only such Joint-holders

who are First in the order of names will be entitled to vote. Members are requested

to inform immediately, of any change in their address registered with the Company

quoting their Share Ledger Folio No.

13. Route-map to the venue of the Meeting is provided at the end of the Annual

Report.

14. Wearing Mask and Maintaining physical distance is a must in the meeting

* * * * *

27


DIRECTORS' REPORT

Dear Members,

On behalf of the Board of Directors, I take pleasure in presenting the 75th Board’s

Report on the performance of your Company, together with the Audited Financial Statements

and Auditor’s Report for the Financial Year ended on 31st March 2021.

1. STATE OF COMPANY’S AFFAIRS

Your Company is into the business of Manufacture of paints, varnishes and indelible ink.

Steps are constantly taken to augment the potential and profitability of the Company.

The Company has not forayed into any new business or venture during the Financial

Year under report.

2. RESULTS OF OPERATION

(Rs in Lakhs)

Particulars 2020-21 2019-20

Turnover (Gross) 3974.67 2152.37

Other Income 352.60 367.96

Total Expenses 3652.40 2050.41

Profit before Tax 674.87 469.92

Profit after Tax 481.89 337.36

The Company manufactured 223.28 MT (Previous Year 275.26 MT) of paints & allied

products.

3. DIVIDEND

Based on the Company’s performance, your Directors are pleased to recommend for

approval of the Members a Final Dividend of 25% (Rs.2.50 per equity Share of Rs.10/

-each) for the Financial Year 2020-21. The Final Dividend, if approved by the members

would involve a cash out flow of Rs. 25,91,375/- (Rupees. Twenty Five Lakhs Ninety

One Thousand Three Hundred and Seventy Five Only) (The Income Tax Act 1961 has

repealed the Section 115(O) w.e.f AY 2021-22. Hence, Dividend Distribution Tax is

not provided). The approved dividend shall be paid in accordance with the applicable

provisions of the Companies Act, 2013, and the Rules made there under.

28


The Register of Members and Share Transfer Register shall remain closed during the

period 25.10.2021 TO 13.11.2021 (both days inclusive).

4 AMOUNT IF ANY, WHICH IT PROPOSES TO, CARRY TO ANY RESERVES.

The Company proposes to transfer a sum of Rs.48,18,879.00 (Rupees Forty Eight

Lakhs Eighteen Thousand Eight Hundred and Seventy Nine Only) to General Reserves.

5 MATERIAL CHANGES AND COMMITMENTS AFFECTING THE

FINANCIAL POSITION BETWEEN THE END OF THE FINANCIAL YEAR

AND THE DATE OF THIS REPORT.

There is no occurrence of material change and commitment made between the end of

the Financial Year and date of this Report which has affected the Financial Position of the

Company.

6 BOARD OF DIRECTORS AND ITS CONSTITUTION

The Company is managed by the Board of Directors. Sri. N.V. Phaneesh is the Chairman

and Dr.Chandrashekar Doddamani is the Managing Director of the Company. The

other Directors are nominated by Government of Karnataka, being the majority

shareholder and cease to hold office upon Nomination being withdrawn by Government

of Karnataka (Nominating Authority).

7 MEETINGS HELD DURING THE YEAR (Board Meetings and General

Meetings)

Four (4) Board Meetings were held during the Financial Year ended on 31st March,

2021. These Meetings were held on 17th July 2020, 2nd September 2020, 28th December

2020 and 29th March 2021. All the Directors attended all the Board Meetings.

The 74th Annual General Meeting of the Members of the Company was held on 25th

September 2020 at the Registered Office of the Company.

The Constitution of Audit Committee, Nomination and Remuneration Committee and

Stakeholders Relationship Committee is not applicable to your Company.

8 FORMAL ANNUAL EVALUATION OF THE BOARD AND ITS DIVERSITY

Your Company is a State Government Company and your Directors are evaluated and

appointed by the Department of Commerce and Industries, Government of Karnataka,

as per its own evaluation methodology. Board Diversity is ensured by the appointing

29


Authority. MCA vide notification dated 5th June 2015 has exempted the Government

Companies from formal annual evaluation, by the Board, of its own performance.

9 DIRECTORS’ RESPONSIBILITY STATEMENT

Pursuant to the provisions of Section 134(5) of the Companies Act, 2013, the Directors

hereby confirm and declare that: -

i. In the preparation of annual accounts of 2020-21 the applicable accounting standards

have been followed along with proper explanation relating to material departures, wherever

is applicable;

ii. The Directors 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 at the end of Financial Year 31st March,

2021 and the profit of the Company for that period;

iii. The Directors had taken proper and sufficient care for the maintenance of adequate

accounting records in accordance with the provisions of the Companies Act, 2013, for

safeguarding the assets of the Company and for preventing and detecting fraud and

other irregularities;

iv. The Directors had prepared the annual accounts on a going concern basis;

v. The Directors had laid down internal financial controls to be followed by the Company

and such internal financial controls are adequate and were operating effectively; and

vi. The Directors had devised proper systems to ensure compliance with the Provisions of

all applicable laws and that such systems were adequate and operating effectively.

10 SHARE CAPITAL

The Authorized Share Capital of the Company stood unaltered at Rs.1,50,00,000/-.

The Issued, Subscribed and Paid Up Share Capital of the Company stood unaltered at

Rs.1,03,65,500/-.

a. Issue of Equity Shares with differential rights: There is no issue of Equity Shares

with differential rights during the year. Hence disclosure as provided under Rule 4(4) of

Companies (Share Capital and Debentures) Rules, 2014 is not applicable.

30


b. Issue of Sweat Equity Shares: The Company has not issued any Sweat Equity Shares

during the year under report and hence disclosure as required under Rule 8 (13) of

Companies (Share Capital and Debentures) Rules, 2014 is not applicable.

c. Issue of Employee Stock Option: The Company has not issued any Stock Options

to its Employees and hence disclosure as required under Rule 12 (9) of Companies

(Share Capital and Debentured) Rules, 2014 is not applicable.

d. Buy Back of Securities: The Company has not bought back any of its Securities

during the Financial Year under report.

e. Bonus Shares: The Company has not issued any Bonus Shares during the Financial

Year under report.

11 CONSERVATION OF ENERGY, RESEARCH AND DEVELOPMENT,

TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND

OUT GO

The particulars as prescribed under Section 134(3) (m) of the Companies Act, 2013,

read with Rule 8(3) of the Companies (Accounts) Rules, 2014, are set out below :

• CONSERVATION OF ENERGY:

The Company continued its emphasis on energy conservation through process

optimization and continuous monitoring. Disclosure requirements are not applicable to

Company as it is not covered in the list of industries that are required to furnish such

details in Form A. Your Company is constantly emphasizing on usage of alternative

sources of energy. The Company also educates its employees on conservation of

energy at periodic intervals. The Company has not made any Capital Investment on

energy conservation equipments. However, adequate measures have been taken to

conserve the energy.

• TECHNOLOGY ABSORPTION, ADOPTION AND INNOVATION:

The Company has not imported any new technology during the year but continues to

use the latest technologies available in-house for improving the productivity and quality

of goods manufactured.

31


• RESEARCH AND DEVELOPMENT:

Expenditure incurred on R&D: Rs.5,10,000/- (Rupees Five Lakhs Ten Thousand Only)

(plus GST) was paid to National Institute of Designs, Ahmedabad (A Government of

India Enterprises) in order to design and develop the application system of Indelible

Ink under R&D expenditure.

• FOREIGN EXCHANGE EARNINGS AND OUTGO: Foreign Exchange earnings

& outgo on account of Revenue or Capital Expenses are as follows:

PARTICULARS CURRENT YEAR PREVIOUS YEAR

Foreign Exchange earnings from Exports Rs. 1,26,79,481.00 Rs. 2,17,18,739.00

Foreign Exchange earnings from Others NIL NIL

Net Foreign Exchange Earnings Rs. 1,26,79,481.00 Rs. 2,17,18,739.00

12. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED

PARTIES.

The Company did not enter into any Related Party Transactions that would attract the

provisions of Section 188 of the Companies Act, 2013, and the Rules made there under

and hence no Disclosure in Form AOC-2 thereof is required.

13. PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS

The Company has not given any loan, or guarantee or provided any security in connection

with a loan, or made any investments which are covered under the provisions of Section

186 of the Companies Act, 2013.

14. RISK MANAGEMENT POLICY.

Your Company has well defined policy framework for Enterprise Risk Management

formulated by the Internal Auditor of the Company and Managers, who are continuously

monitoring the risks pertaining to their area. In the opinion of the Board there are no

risks that would threaten the very existence of the Company.

15. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS

OR COURTS.

There were no significant and material Orders passed by any Regulators or Courts that

would impact the going concern status of the Company and its future operations.

32


16. COMPANIES WHICH HAVE BECOME OR CEASED TO BE ITS

SUBSIDIARIES, JOINT VENTURES OR ASSOCIATE COMPANIES DURING

THE YEAR.

Your Company neither does have nor had any Subsidiaries, Joint Ventures or Associate

Companies.

17. INTERNAL AUDIT AND CONTROLS

The provisions relating to the appointment of Internal Auditor as envisaged under

the Companies Act, 2013 is NOT applicable to your Company. However the Board

of Directors of the Company have voluntarily appointed Internal Auditors and are

having continuous vigil over the operations of the Company and also take suggestions

from the Internal Auditors of the Company for safeguarding the assets of the

Company.

18. CORPORATE SOCIAL RESPONSIBILITY (CSR).

The Company has spent Rs.19,00,000/- towards various CSR projects, as per the

provisions of Companies Act, 2013, u/s 135. (Details of which are given in Annexure

C) (Annual Report on C S R activities).

19 . DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT

WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL)

ACT, 2013.

The Company has in place an Anti harassment policy in line with the requirements of the

Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal)

Act, 2013. Internal Complaint Committee (ICC) was set up to redress complaints

received regarding sexual harassment. All employees (permanent, contractual, temporary,

trainees) are covered under the policy.

The following is a summary of sexual harassment complaints received and disposed off

during the year 2020-21:

• No of complaints received: NIL

• No of complaints disposed off: NIL

33


20. HUMAN RESOURCES.

Your Company continues to enjoy cordial and harmonious relations among its employees.

Not a single man hour was lost on account of any Industrial Disturbance during the

Financial Year 2020-21. Your Directors also wish to place on record their appreciation

for the sincere services rendered by the employees during the year.

21. EXTRACT OF THE ANNUAL RETURN

Information required to be disclosed pursuant to Section 134(3)(a) of the Companies

Act, 2013, with respect to the details forming part of the extract of the Annual Return in

Form MGT-9 are furnished in Annexure A which forms part of this Report.

22. DELISTING OF EQUITY SHARES OF THE COMPANY.

All Share Transfer and Registrar’s works are carried in house at the Registered Office of

the Company.

Mr. C. Harakumar, is designated as Company Secretary – In Charge and is the

Compliance Officer of the Company.

86,155 Equity Shares of the Company were exclusively listed in Bangalore Stock

Exchange. The Bangalore Stock Exchange has been de-recognized on an Application

made by it voluntarily.

The Equity Shares of the Company have been placed in the Dissemination Board of the

Bombay Stock Exchange (BSE). Pursuant to the notification of the Companies Act,

2013, your Company is no longer a Listed Company (going by the Definition given in the

Act). SEBI vide its Circular bearing No.CIR/MRD/DSA/05/2015 dated 17th April

2015 has mandated exclusively Listed Companies of de-recognized Stock Exchanges

to either get themselves listed in a Stock Exchange having Nationwide Trading Terminal

or to get the Equity Shares delisted. Since the Company does not wish to get its Equity

Shares listed in any other Stock Exchange, the Board is taking steps to provide an Exit

Opportunity to the existing dissenting Shareholders, as per the SEBI guidelines.

23. DEPOSITS

The Company has not accepted any Amount that would fall within the meaning of the

term “Deposits” as defined under the provisions of the Companies Act, 2013 and the

Rules made there under during the Year under Report.

34


24. AUDITORS

a. STATUTORY AUDITORS:

M/s. L.R.Prakash & Co., Chartered Accountants, are the Statutory Auditors

appointed by the Comptroller and Auditor General as per the provisions of Section

139 of the Companies Act, 2013, for the Financial Year 2020-21.

In terms of the provisions of the Companies Act, 2013 and the Rules made

there under, the remuneration payable to the auditors shall be fixed by the

Company at the Annual general Meeting and members consent for the same

is sought.

b. INTERNAL AUDITORS:

M/s. A. Vishwanatha & Associates., Chartered Accountants are appointed as Internal

Auditors, during the FY 2020-21.

c. COST AUDITORS:

Mr. GSR & Associates, Cost Accountant, was appointed as Cost Auditor to maintain

Cost Records during the FY 2020-21.

EXPLANATIONS OR COMMENTS ON AUDITORS QUALIFICATIONS, ETC

The comments / observations of the auditors are noted and replies by the

Board are furnished in Annexure – B to this Report.

25. OTHER INFORMATION

a. General Body Meetings: The Venue, date and time of the Annual General

Meetings held during the preceding three years and Special Businesses taken there

at in those Meeting are mentioned as under:

Year Venue Date & Time Special Businesses

2017-18 Registered Office 28.09.2018 (11.30 A.M.) No Special Business was

taken up.


taken up.


taken up.

The Company has not convened any Extraordinary General Meetings during the Financial

Year under report.

35


b. General Shareholders Information:

i) Date, time and venue of the 75th Annual General Meeting: 13.11.2021 at the

Registered Office of the Company at 11.30 A.M.

Book Closure Date:

The Register of Members & Share Transfer Books of the Company will be

closed from 25.10.2021 to 13.11.2021 (both days inclusive).

26. Dividend Payment Date :

The Dividend as recommended by the Board, if approved by the Shareholders at the

75th Annual General Meeting, shall be paid within the time period prescribed under the

Companies Act, 2013.

27. ACKNOWLEDGEMENTS

The Board wishes to place on record its appreciation for the co-operation and

assistance extended by the Government of Karnataka, Government of India and

State Bank of India. Your Directors also wish to place on record their appreciation

for the sincere services rendered by the employees during the year. The Board also

places on record its appreciation to all the Shareholders of the Company for their

continued support and co-operation.

BY ORDER OF THE BOARD

Sd/-

(N.V. PHANEESH)

CHAIRMAN

(DIN – 09027729)

Place: Mysuru

Date: 01-10-2021

36


Para

No.

Refer Statutory

Auditor’s Report

Replies

A. Trade Receivables Out of Rs.44.05 lakhs trade receivables which are older

than 3 years.

� The company has obtained decree for recovery up

to Rs.14.02 lakh.

� Rs.16.61 lakh due from Govt Depts/PSU.

� Rs. 9.81 lakh due from Sugar Industries.

� Rs.3.61 lakh due from others.

for which action has been taken to recover and to make

necessary provision.

B. Company’s Advances The Company made advance amounting to Rs.11,71,370/-

pertains to amount receivable from BPCL for which

company obtained decree. However, BPCL gone for appeal

in Hon’ble High Court and action will be taken as per the

orders of the Court.

C. Fixed Assets In order to assess the impairment of loss of Fixed Assets,

the assignment of physical verification of fixed assets has

been entrusted to the M/s. P.S & Co., Auditors and the

same has been carried out by the Auditors and have already

submitted the physical inspection report. In order to

ascertain the impairment loss of an asset which is the

carrying cost of an asset in excess of its recoverable

amount, the recoverable value of each item of fixed assets

including plant and machinery, furniture and fixtures,

computer and accessories, electrical equipment’s, vehicles

etc. has to be ascertained. The same is under process and

will be able to ascertain the impairment loss of fixed assets

in the coming years.

D. Depreciation The Company is charging depreciation for full year instead

for pro-rata basis as per Accounting policy of the

Company.

Place: Mysore

Date: 06/09/2021

For & on Behalf of the Board

By Order of the Board of

Mysore Paints and Varnish Limited

(N.V.Phaneesh)

CHAIRMAN (DIN – 09027729)

ANNEXURE – B

Addendum to Directors Report on the Statutory Auditor’s observations on the

Accounts of the Company for the year ended on 31st March 2021.

01-10-2021

Sd/-

37


ANNEXURE C

ANNUAL REPORT ON CSR ACTIVITIES

1. Brief outline on CSR Policy of the Company.

To direct MPVL’s CSR Programmes, inter alia, towards achieving one or more of the

following –

Enhancing environmental and natural capital; supporting rural development; promoting

education including skill development; providing preventive healthcare, providing

sanitation and drinking water; creating livelihoods for people, especially those from

disadvantaged sections of society, in rural and urban India and preserving and

promoting sports.;

To develop the required capability and self-reliance of beneficiaries at the grass roots,

in the belief that these are prerequisites for social and economic development;

To engage in affirmative action/interventions such as skill building and vocational training,

to enhance employability and generate livelihoods for persons including from

disadvantaged sections of society;

To pursue CSR Programmes primarily in areas those fall within the economic vicinity of

the Company’s operations to enable close supervision and ensure maximum development

impact;

To carry out CSR Programmes in relevant local areas to fulfill commitments arising

from requests by government/regulatory authorities and to earmark amounts of monies

and to spend such monies through such administrative bodies of the government and/or

directly by way of developmental works in the local areas around which the Company

operates;

To carry out activities at the time of natural calamity or engage in Disaster Management

system;

To contribute to the Prime Minister’ National Relief Fund or any other fund set up by

the Central Government or the State Government for socio-economic development

38


and relief and funds for the welfare of the Scheduled Caste, the Scheduled Tribes,

other backward classes, minorities and women;

To contribute or provide funds to technology incubators located within academic

institutions which are approved by the Central Government;

To contribute to any fund setup by the Central Government or State Government(s)

including Chief Minister’s Relief Fund, which may be recognized as CSR activity.

2. Composition of CSR Committee: - NOT APPLICABLE.

3. Provide the web-link where Composition of CSR committee, CSR Policy and CSR

projects approved by the board are disclosed on the website of the Company – NOT

APPLICABLE.

4. Details of Impact assessment of CSR projects carried out in pursuance of sub-rule(3)

of Rule 8 of the Companies (Corporate Social Responsibility Policy) Rules,2014, if

applicable (attach the report). – NOT APPLICABLE.

5. Details of the amount available for setoff in pursuance of sub-rule(3) of rule 7 of the

Companies (Corporate Social responsibility Policy) Rules,2014 and amount required

for setoff for the financial year, if any.

Sl. No.

Financial Year Amount available for set-

off from preceding financial years (in Rs)

Amount required to be set-off for the financial year, if

any (in Rs) 1 - - -

TOTAL - -

- Average Net Profit of the Company as per Section 135(5) - Rs.974.23 Lakhs

(a) Two percent of average net profit of the company as per section 135(5)-

Rs.19.48 Lakhs

(b) Surplus arising out of the CSR projects or Programs or activities of the

previous financial years- Nil

(C) Amount required to be set off for the financial year, if any- Nil

(d) Total CSR obligation for the financial year (5a+5b-5c)– Rs.19.48 Lakhs

39


6. (a) CSR amount spent or unspent for the financial year:

Total

Amount

Spent for the

Financial

Year.

(Rs. In

Lakhs)

Amount Unspent (in Rs. In Lakhs)

Total Amount transferred to

Unspent CSR Account as

persection135(6)

Amount transferred to any fund

specified under Schedule VII as per

second proviso to Section 135(5).

Amount Date of transfer Name of the

Fund Amount

Date of

transfer

19.00 - - - - -

(b) Details of CSR amount spent against ongoing projects for the financial year:

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11)

Sl.

No.

Name of the

project

Item from

the list of

activities

in

Schedule

VII to the

Act

Local

Area

(Yes/

No)

Location of the

project

Project

duration

Amount

allocated

for the

project

(In Rs.)

Amount

spent in

the

current

financial

Year (In

Rs.)

Amount

transferred

to Unspent

CSR

Account for

the project

as per

Section

135(6) (in

Rs.)

Mode of

Implemen-

tation

-

Direct

(Yes/No)

Mode of

Implemen-

tation

-

Through

Implementing

Agency

State District Name CSR

Registr-

ation

Number

1 - - - - - - - - - -

TOTAL

40


(c) Details of CSR amount spent against other than ongoing projects for the

Financial Year:

41


(d) Amount spent in Administrative Overheads- Nil

(e) Amount spent on Impact Assessment, if applicable – Not applicable

(f) Total amount spent for the Financial Year (6b+6c+6d+6e)– Rs. 19.00 Lakhs

(g) Excess amount for set off, if any

Sl.No. Particular Amount (Rs in Lakhs) (i) Two percent of average net profit of the company as per

Section.135(5) 19.48

(ii) Total amount spent for the Financial Year 19.00 (iii) Excess amount spent for the financial year [(ii)-(i)] 0.00

(iv) Surplus arising out of the CSR projects or programmes or Activities of the previous financial years, if any

Nil

(v) Amount available for set off in succeeding financial years [(iii)-(iv)]

0.00

9. (a)Details of Unspent CSR amount for the preceding three financial years:

Sl. No.

Preceding Financial

Year

Amount transferred to Unspent

CSR Account under section

135(6) (Rs. In Lakhs)

Amount spent in

the reporting Financial

Year (Rs. In Lakhs)

Amount transferred to any fund specified under Schedule VII as

per Section 135(6), if any.

Amount remaining to be spent in succeeding financial

years. (Rs. In Lakhs)

Name of the

Fund

Amount

(Rs. in

Lakhs)

Date of

transfer

1. 2017-18 - - - - -

2. 2018-19 - - - - -

3. 2019-20 - - - - -

TOTA - - - -

TOTAL

42


Note: The provisions relating to transfer of unspent CSR Amount to a separate fund established by

Central govt. was introduced w.e.f. 22nd January, 2021. Hence, there is no amount pending to be

transferred to unspent CSR account during the preceding 3 years.

(b)Details of CSR amount spent in the financial year for onpreceding financial year(s):

(1) (2) (3) (4) (5) (6) (7)

Sl. No.

Project ID

Name o f the Project

Financial Year in

which the project was commenced

Project duratio

n

Total amount allocated for the project (in Rs.).

Amount spent on

the project in the

reporting Financial

Year

(inRs.) 1. - - - - - -

TOTAL

10. In case of creation or acquisition of capital asset, furnish the details relating to the assets

created or acquired through CSR spent in the financial year

(asset-wise details).

(a) Date of creation or acquisition of the capital asset (s)- Nil

(b) Amount of CSR spent for creation or acquisition of capital asset– Not applicable

(c) Details of the entity or public authority or beneficiary under whose name such

capital asset is registered, their address etc– Not applicable

(d) Provide details of the capital asset(s) created or acquired (including complete

address and location of the capital asset)– Not applicable

11. Specify the reason(s), if the company has failed to spend two percent of the average

net profit as per Section135(5)– Not applicable

BY ORDER OF THE BOARD

Sd/-

(N.V. PHANEESH)

CHAIRMAN

(DIN – 09027729)

Place: Mysuru

Date: 01-10-2021

43


Independent Auditor’s Report

TO THE MEMBERS OF MYSORE PAINTS & VARNISH LIMITED

Report on the Audit of the standalone Financial Statements

Qualified Opinion

We have audited the accompanying standalone financial statements of MYSORE

PAINTS & VARNISHLIMITED (“the Company”), which comprise the Balance Sheet

as at March 31, 2021, the Statement of Profit and Loss, and statement of Cash Flows for the

year then ended,and notes to the financial statements, including a summary of significant

accounting policies and other explanatory information.

In our opinion and to the best of our information and according to the explanations given

to us, the aforesaid standalone financial statements give the information required by the Act in

the manner so required and give a true and fair view in conformity with the accounting principles

generally accepted in India, of the state of affairs of the Company as at March 31, 2021, and

profit, and its cash flows for the year ended on that date, except for the effects of the matter

described in the Basis for the qualified opinion section of our report.

Basis for Qualified Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified

under section 143(10) of the Companies Act, 2013. Our responsibilities under those Standards

arefurther described in the Auditors’ Responsibilities for the Audit of the Financial

Statementssection of our report. We are independent of the Company in accordance with

the Code of Ethics issued by the Institute of Chartered Accountants of India together with the

ethical requirements that are relevant to our audit of the financial statements under the provisions

of the CompaniesAct, 2013 and the Rules thereunder, and we have fulfilled our other ethical

responsibilities inaccordance with these requirements and the Code of Ethics. We believe that

the audit evidencewe have obtained is sufficient and appropriate to provide a basis for our

qualified audit opinion.

L.R.PRAKASH & CO.,Chartered Accountents

138/A, 1st Floor, Ramvilas Road,

Mysuru - 570 014

Phone : 0821 - 2424997

E-mail: [email protected]

44


Basis for Qualified Opinion :

a) The Company’s trade receivables include Rs44,05,757/- (As at March 2020–

Rs38,18,152/-) which are older than 3 year i.e., beyond the recovery period

prescribed under the Limitation Act, 1963 and in our opinion it may not be recovered.

However suitable provision is not made in the accounts. The net profit &the trade

receivables respectively are overstated to this extent. (Refer note 25(xxii)(i) – Other

Additional Notes/Information)

b) The Company’s advances includes Rs. 11,71,370/-(As at March 2020-Rs.11,71,370/-)

Recovery suit has been filed by the company.Since court hearing are in process.The

Cases are yet to be adjudicated.Hence,No provision has been made in the books of

accounts.(Refer note 25 (xxii) (j) - Other Additional Notes/Information).

c) The Company has not reviewed the carrying amounts of its Fixed Assets and has

not recognized impairment loss, if any, arising out of such review as required under

AS-28-Impairment of Assets. However, pending identification of such losses, we

are unable to quantify the impact thereof on the financial Statements.

d) The Company has charged depreciation for full year on the fixed assets acquired

during the year instead as per provision of companies act 2013. Consequently

depreciation is charged higher by Rs34,980/-(As at March 2020-Rs..34,289/-) and

the profit & the fixed assets respectively areunderstated to this extent(Refer Note

2 of Significant Accounting Policies (Property, Plant &Equipment).The accounting

policy is not in consonance with Schedule II, Companies Act, 2013.

e) The aggregate netimpact of qualifications of Para(d) on the profit is that the profit

is overstated byRs34,980/-

Key Audit Matters

Reporting of key audit matters as per SA 701: Key Audit Matters are not applicable to the

Company as it is an unlisted Company.

Responsibility of Management for the Standalone Financial Statements

The Company’s Board of Directors is responsible for the matters stated in Section

134(5) of the Companies Act, 2013 (“the Act”) with respect to the preparation of these

standa lone financial statements that give a true and fair view of the financial position,

45


financial performance and Cash Flows of the Company in accordance with the Accounting

principles generally accepted in India, including the Accounting Standards specified under

Section 133 of the Act, except to the extent stated in basis of qualified opinion paragraph.

This responsibility also includes maintenance of adequate accounting records in

accordance with the provision of the Act for safeguarding the assets of the Company and

for preventing and detecting frauds and other irregularities; selection and application of

appropriate accounting policies; making judgments and estimates that are reasonable

and prudent; and design, implementation and maintenance of adequate internal financial

controls, that were operating effectively for ensuring the accuracy and completeness of

the accounting records, relevant to the preparation and presentation of the financial

statements that give a true and fair view and are free from material misstatement, whether

due to fraud or error.

In preparing the standalone financial statements, management is responsible for assessing

the Company’s ability to continue as a going concern, disclosing, as applicable, matters

related to going concern and using the going concern basis of accounting unless management

either intends to liquidate the Company or to cease operations, or has no realistic alternative

but to do so.

The Board of Directors are responsible for overseeing the Company’s financial reporting

process.

Auditor’s Responsibility for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements

as awhole are free from material misstatement, whether due to fraud or error, and to issue

an auditor’s report that includes our opinion.Reasonable assurance is a high level of

assurance, but is not a guarantee that an audit is conducted in accordance with SAs will

always detect a material misstatement when it exists. Misstatements can arise from fraud or

error and are considered material if, individually or in the aggregate, they could reasonably

be expected toinfluence the economic decisions of users taken on the basis of these financial

statements.

A further description of our responsibility for the audit of financial statements is

included in”Annexure A” of these auditors’ report. This Annexure forms part of our

auditors’ report.

46


Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order, 2016 (‘the Order’) issued

by theCentral Government of India in terms sub-section (11) of section 143 of the

Companies Act, 2013, we give in the “Annexure B” a statement on the matters

specified in the paragraph 3 and 4 of the order, to the extent applicable.

2. As required by Section 143(3) of the Act, based on our audit we report that:

a. We have sought and obtained all the information and explanations which to the best of

our knowledge and belief were necessary for the purposes of our audit.

a. We have sought and obtained all the information and explanations which to the best of

our knowledge and belief were necessary for the purposes of our audit.

b. In our opinion, proper books of account as required by law have been kept by the

Company so far as it appears from examination of those books.

c. The Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement

dealt with by this Report are in agreement with the books of account.

d. In our opinion, the aforesaid standalone financial statements comply with Accounting

Standards specified under Section 133 of the Act, read with Rule 7 of Companies

(Accounts) Rules, 2014.

e. Sub-section (2) of Section 164 of the Companies Act, 2013 is not applicable to the

Company vide notification GSR 463(E);F.No 1/2/2014-CL.V dated 5th June, 2015.

f. With respect to the adequacy of the internal financial controls over financial reporting of

the Company and the operating effectiveness of such controls, refer to our separate

Report in “Annexure C”.

g. With respect to the other matters to be included in the Auditor’s Report in accordance

with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to

the best of our information and explanations given to us :

i. The Company has disclosed the impact of pending litigation on its financial position

in its financial statements- Refer Note. 25(xxii) (c) - Other Additional Notes/

Information.

ii. The Company did not have any long-term contracts including derivative contracts

for which there were any material foreseeable losses.

iii. There has been no delay in transferring amounts, required to be transferred, to the

Investor Education and Protection Fund by the Company.

3. Further, in compliance with the provision of the section 143(5) of Companies Act

2013, and further to the directions issued by the Comptroller and Auditor General

of India , we report that:

47


Sl.

No. Directions Disclosures

1

Whether the company has system in place to process

all the accounting transactions through IT system? If

yes, the implications of processing of accounting

transactions outside IT system on the integrity of the

accounts along with the financial implications, if any,

may be stated.

The Company is maintaining its

books of accounts & Inventory in

the manual system. The Inventory

as on 31st March 2021 has been

adopted as per the data available in

the inventory records maintained

in the manual system & certified

by the Management and Internal

Auditor.

2

Whether there is any restructuring of an existing loan

or cases of waiver/write off to debts/loans/interest etc.

made by a lender to the company due to the

company’s inability to repay the loan? If yes, the

financial impact may be stated. Whether such cases

are properly accounted for? (In case, lender is a

Government Company, then this direction is also

applicable for statutory auditor of lender company)

No such cases

3

Whether funds (grants/subsidy etc) Received /

receivable for specific schemes from Central/State

Government or its agencies were properly accounted

for/utilized as per its term and conditions? List the

cases of deviation.

No such cases

i. Additional Sub-directions:

Sl.

No. Directions Disclosures

1

Whether the auditor has verified all the items with

regard to Cash and Bank balances enclosed at

Annexure-1. In case of specific non-compliances,

whether the same has been reported?

Verified.

2 Whether the Company has any unexplained balances

and accounts operated under suspense head.

No such balances & accounts

found.

3

Whether the Company’s pricing policy absorbs all fixed

and variable cost of production and allocation of

overhead.

YES – Fixed and Variable cost of

production and over heads allocated

and absorbed in price

4

Whether the company has effective system for physical

verification of stock, treatment of non-moving items and

accounting the effect of shortage and excess noticed

during physical verification

The Company Management has

physically verified the stocks as on

31/03/2021 and the same has been

verified by the Internal Auditors.

Non-moving items of stock has

been identified in the verification

and an amount of Rs.1,413/-

has been utilised during the year

under audit.

For L.R.PRAKASH & CO.,Chartered Accountants

Firm Registration #002733S Sd/-

L.R. PRAKASHPartner

Membership # 026654UDIN: 20026654AAAACF8774

Place : Mysuru

Date : 21 August, 2021

48


Annexure-1

Sl.

No Items in Check List Remarks

1 Whether all Banks Accounts/ Fixed Deposits have been opened with Banks proper

authorisation and approvals as per the aforesaid delegation of powers?

YES

2 Whether There was a periodical system of preparation of Bank reconciliation statement and

Whether they were produced for verification to Audit?

YES , DONE

PERIODICALL

Y

3 Whether Bank Reconciliation of the Main Account all subsidiary bank account were done? YES, DONE

4 Was the authorisation to operate the bank accounts were given to a single signatory? NO – THE

BANK

ACCOUNT

OPERATIONS

ARE DONE BY

DUAL

SIGNATURE

5 Whether the interest for the entire duration of Fixed Deposits was accounted in the books

of accounts?

YES

6 Whether physical verification of cash has taken place periodically? YES , DONE

PERIODICALL

Y

7 Whether the cash in hand as shown in the Balance sheet tallies with the certificate of

physical verification of cash?

YES

8 Is there register of Fixed Deposits showing amounts, maturity dates, rate of interest & dates

of payment of interest?

YES

9 Is there a follow-up system to insure that interest on Fixed Deposit is received on due

dates?

YES

10 Is there a follow –up system ensure that transfer of matured amount of Fixed Deposits is

done with any delay?

NO

11 Whether Bank confirmation statement is obtained periodically from the bank for all

accounts: SB Accounts, Current Accounts & Fixed deposits?

YES

12 Whether confirmation of balances in respect of all bank balances tally with the bank

statements?

YES

13 Whether Fixed Deposits and interest as per fixed deposits Register tally with the

confirmation/ certificate issued by the bank?

YES

14 Whether the confirmation statements received from banks are authenticated & in the letter

head by the bank?

YES

15 In case of any difference observed in the above check, whether the same was adjusted in

the subsequent year?

NO SUCH

CASES

OBSERVED

16 Whether External confirmation were obtained from banks in the test checked cases, if so

details thereof with.

NO SUCH

CASES

17 Whether any of the aforesaid lapses were brought out in the Report of the internal Financial

controls by the Statutory Auditor, if not whether Audit Enquiry was issued?

NO LAPSES

FOUND

For L.R.PRAKASH & CO.,

Chartered Accountants

Firm Registration #002733S

Sd/-

L.R.PRAKASH

Partner

Membership # 026654

UDIN: 20026654AAAACF8774

Place : Mysuru


49


“Annexure A” to the Independent Auditors’ Report

As part of an audit in accordance with Standards on Auditing (SAs), we

exercise professional judgment and maintain professional skepticism throughout

the audit. We also:

• Identify and assess the risks of material misstatement of the financial statements,

whether due to fraud or error, design and perform audit procedures responsive

to those risks, and obtain audit evidence that is sufficient and appropriate to

provide a basis for our opinion. The risk of not detecting a material misstatement

resulting from fraud is higher than one resulting from error, as fraud may involve

collusion, forgery, intentional omissions, misrepresentations, or the override of

internal control.

• Obtain an understanding of internal control relevant to the audit in order to design

audit procedures that are appropriate in the circumstances. U/s 143(3)(i) of Companies

Act, 2013, we are also responsible for expressing our opinion on whether the company

has adequate internal financial controls system in place and the operating effectiveness

of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonableness of

accounting estimates and related disclosures made by management.

• Conclude on the appropriateness of management’s use of going concern basis of

accounting and based on the audit evidence obtained, whether a material uncertainty

exists related to events or conditions that may cast a significant doubt on the Company’s

ability to continue as a going concern. If we conclude that a material uncertainty

exists, we are required to draw attention in our auditors’ report to the related disclosures

in the financial statements or, if such disclosures are inadequate, to modify our opinion.

Our conclusions are based on the audit evidence obtained up to the date of our

auditor’s report. However, future events or conditions may cause the Company to

cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the financial statements,

including the disclosures and whether the financial statements represent the underlying

transactions and events in a manner that achieves fair presentation

50


We communicate with those charged with governance regarding, among other matters,

the planned scope and timing of the audit and significant deficiencies in internal control

that we identify during our audit.

We also provide those charged with governance with a statement that we have

complied with relevant ethical requirements regarding independence and to communicate

with them all relationships and other matters that may reasonably be thought to bear

on our independence and where applicable, related safeguards.

For L.R.PRAKASH & CO


Firm Registration # 002733S

Sd/-

(L.R. PRAKASH)

Partner

Membership # 026654


Place : Mysuru


51


“Annexure B” to the Independent Auditors’ Report

The Annexure referred to inparagraph 1 under the heading “Report on Other Legal

and RegulatoryRequirements”ofIndependentAuditors’Report of even date

tothemembersofMysore Paints and Varnish Limitedonthe financialstatementsfor the

yearended 31 March 2021.

We Report that:

i. (a) The Company has maintained proper records showing full particulars, including

quantitative details and situation of fixed assets.

(b) The fixed assets are physically verified by the management according to a phased

program designed to cover all the items over a period of three years, which in our

opinion, is reasonable having regard to the size of the Company and the nature of its

assets. No material discrepancies were noticed on such verification.

(c) As per the information and explanation given to us, and on the basis of our examination

of the records of the Company, the title deeds of immovable properties are held in

the name of the Company.

ii. The inventory has been physically verified by the management at reasonable intervals

and no material discrepancy was noticed on physical verification of the inventory by

the management.

iii. (a) The Company has not granted unsecured loans to Companies covered in the

register maintained under Section 189 of the Companies Act, 2013 (‘the Act’).

b) Accordingly, paragraph 3(iii) (b) and 3(iii) (c) of the Order are not applicable to

the Company.

iv. According to the information and explanations given to us, the Company has not

given any loans, investments, guarantees and security during the year. Accordingly,

paragraph 3(iv) of the order is not applicable.

v. The Company has not accepted any deposits from the public within the meaning of

Section 73 to 76 or any other Relevant Provisions of the Act, and the rules framed

there under. No order has been passed by National Company Law Tribunal or Reserve

Bank of India or any Court or any other Tribunal.

vi. We have broadly reviewed the books of account maintained by the Company in

respect of products where, pursuance to the Rules made by the Central Government,

the maintenance of cost records has been prescribed under section 148(1) of the Act,

52


and the prescribed accounts and records have been made and maintained in respect

of the products manufactured by the company. We have not, however, made a detailed

examination of the records with a view to determine whether they are accurate or

complete.

vii. a) According to the information and explanations given to us and the records of the

Company examined by us, no undisputed statutory dues including provident fund,

employees’ state insurance, sales tax, service tax, Goods and Service Tax,customs

duty, value added tax, excise duty, cess and other statutory dues as applicable with

the appropriate authorities.

b) In our opinion and according to information and explanation given to us during the

course of the audit, there are no material dues of Income Tax, GST, and duty of

customs, which have not been deposited with the appropriate authorities on account

of any dispute except as stated below (Also refer Note 25(i) (a) (b) - Other

Additional notes/ information) forming part of financial statements.

Description Amount Forum where

pending Remarks

The Company has filed a revised

return on 07-01-1999 (AY 1997-

98) for the purpose of refund. The

Company had filed a

condonationapplication to CBDT

through proper channel, for

condonation of delay.

8,75,199

Commissioner

of Income Tax,

Mysore

The IT Dept has rejected

the application as it was

time barred.

The Company has received a

notice of demand for FY 2017-18

(A.Y2018-19) for Rs 5,27,542/-

for Dividend Distribution Tax

(DDT) along with interest of

Rs.2,11,017/-.The company has

paid the Dividend Distribution

Tax(DDT) of Rs.5,27,543/- by

challan No.03481

Dated.03/10/2018 which is paid

with in due date for the payment of

Dividend Distribution Tax.

7,38,559

National e-

Assessment

centre, Delhi

The Company has filed

its response to the income

tax notice vide letter

dated 03.03.2021 seeking

cancelation of demand

notice,since the liability

has already been

discharged properly.

52


53


viii. According to the records of the Company examined by to us and the information

and explanations given to us, the Company has not defaulted in repayment of dues

to any financial institution or bank as at the balance sheet date. The Company has not

issued any debentures.

ix. According to the information and explanations given to us and the records of the

Company examined by us, the Company has not raised money by public offer

(including debt instruments) during the year. No term loan has been availed by the

company.

x. During the course of our examination of the books and records of the company,

carried out in accordance with the generally accepted auditing practices in India, and

according to the information and explanations given to us, we have neither come

across any instance of material fraud on the company by its officers or employees or

by the company, noticed or reported during the year, nor have we been informed of

any such case by the management.

xi. According to the information and explanations given to us and the records of the

Company examined by us, the managerial remuneration has been paid in accordance

with the requisite approvals mandated by the provisions of section 197 to be read

with schedule V to the Act.

xii. According to the information and explanations given to us, The Company has not

been incorporated as a “Nidhi Company”. Accordingly, paragraph 3(xii) of the Order

is not applicable.

xiii As per the information and explanation given to us and the records examined by us,

all related party transactions are in compliance with sections 177 and 188 of the

Act, where applicable and the details of such transactions have been disclosed in the

Financial Statements as required by the applicable accounting standards.

xiv As per the information and explanation given to us and the records examined by us,

the Company has not made any preferential allotment or private placement of shares

or fully or partly convertible debentures during the year under review. Accordingly

paragraph 3(xiv) of the Order is not applicable.

54


xv. According to the information and explanations given to us, the Company has not

entered into any non-cash transactions with directors or persons connected with

him/her. Accordingly, paragraph 3(xv) of the Order is not applicable

xvi. The company is not engaged in the business of non-banking financial institution (NBFI)

and hence is not required to be registered under section 45-IA of the Reserve Bank

of India Act, 1934.

For L.R. PRAKASH & CO


Firm Registration # 002733S

Sd/-

(L.R. Prakash)

Partner

Membership #026654


Place : Mysuru


55


“Annexure C” to the Independent Auditors’ Report

The Annexure Referred to inparagraph 2(f) under the heading “Report on Other

Legal and Regulatory Requirements”ofIndependentAuditors’Report of even date to the

members of Mysore Paints and Varnish Limitedonthe financialstatementsfor the yearended

31 March 2021.

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section

143 of the Companies Act, 2013 (“the Act”)

We have audited the internal financial controls over financial reporting of Mysore Paints

& Varnish Ltd (“the Company”) as of March 31, 2021 in conjunction with our audit of the

financial statements of the Company for the year ended on that date.

Management’s Responsibility for Internal Financial Controls

The Company’s management is responsible for establishing and maintaining internal

financial controls based on the internal control over financial reporting criteria established by

the Company considering the essential components of internal control as stated in the Guidance

Note on Audit of Internal Financial Controls over Financial Reporting issued by the Institute

of Chartered Accountants of India (ICAI). These responsibilities include the design,

implementation and maintenance of adequate internal financial controls that were operating

effectively for ensuring the orderly and efficient conduct of its business, including adherence to

company’s policies, the safeguarding of its assets, the prevention and detection of frauds and

errors, the accuracy and completeness of the accounting records, and the timely preparation

of reliable financial information, as required under the Companies Act, 2013.

Auditors’ Responsibility

Our responsibility is to express an opinion on the Company’s internal financial controls

over financial reporting based on our audit. We conducted our audit in accordance with the

Guidance Note on Audit of Internal Financial Controls Over Financial Reporting (the “Guidance

Note”) and the Standards on Auditing, issued by ICAI and deemed to be prescribed under

section 143(10) of the Companies Act, 2013, to the extent applicable to an audit of internal

financial controls, both applicable to an audit of Internal Financial Controls and, both issued

by the Institute of Chartered Accountants of India. Those Standards and the Guidance Note

56


require that we comply with ethical requirements and plan and perform the audit to obtain

reasonable assurance about whether adequate internal financial controls over financial reporting

was established and maintained and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy

of the internal financial controls system over financial reporting and their operating effectiveness.

Our audit of internal financial controls over financial reporting included obtaining an

understanding of internal financial controls over financial reporting, assessing the risk that a

material weakness exists, and testing and evaluating the design and operating effectiveness of

internal control based on the assessed risk. The procedures selected depend on the auditor’s

judgement, including the assessment of the risks of material misstatement of the financial

statements, whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate to

provide a basis for our audit opinion on the Company’s internal financial controls system over

financial reporting.

Meaning of Internal Financial Controls over Financial Reporting

A company’s internal financial control over financial reporting is a process designed to

provide reasonable assurance regarding the reliability of financial reporting and the

preparation of financial statements for external purposes in accordance with generally

accepted accounting principles. A company’s internal financial control over financial reporting

includes those policies and procedures that (1) pertain to the maintenance of records that,

in reasonable detail, accurately and fairly reflect the transactions and dispositions of the

assets of the company; (2) provide reasonable assurance that transactions are recorded as

necessary to permit preparation of financial statements in accordance with generally accepted

accounting principles, and that receipts and expenditures of the company are being made

only in accordance with authorisations of management and directors of the company; and

(3) provide reasonable assurance regarding prevention or timely detection of unauthorised

acquisition, use, or disposition of the company’s assets that could have a material effect on

the financial statements.

57


For L.R. PRAKASH & CO


Firm Registration No: 002733S

Sd/-

(L.R. Prakash)

Partner

Membership #026654


Place : Mysuru

Date : 21st August 2021

Inherent Limitations of Internal Financial Controls over Financial Reporting

Because of the inherent limitations of internal financial controls over financial reporting,

including the possibility of collusion or improper management override of controls, material

misstatements due to error or fraud may occur and not be detected. Also, projections of any

evaluation of the internal financial controls over financial reporting to future periods are subject

to the risk that the internal financial control over financial reporting may become inadequate

because of changes in conditions, or that the degree of compliance with the policies or

procedures may deteriorate.

Opinion

In our opinion, the Company has, in all material respects, an adequate internal

financial controls system over financial reporting and such internal financial controls

over financial reporting were operating effectively as at March 31, 2021, based on the

internal control over financial reporting criteria established by the Company considering

the essential components of internal control stated in the Guidance Note on Audit of

Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered

Accountants of India.

58


COMMENTS OF THE COMPTROLLER AND AUDITOR

GENERAL OF INDIA UNDER SECTION 143(6) (b) OF THE

COMPANIES ACT, 2013 ON THE FINANCIAL STATEMENTS

OF MYSORE PAINTS AND VARNISH LIMITED, MYSORE FOR

THE YEAR ENDED 31 MARCH 2021

The preparation of financial statements of Mysore Paints and Varnish

Limited, Mysore for the year ended 31 March 2021 in accordance with

the financial reporting framework prescribed under the Companies Act,

2013 is the responsibility of the management of the company. The statutory

auditor appointed by the Comptroller and Auditor General of India under

section 139 (5) of the Act is responsible for expressing opinion on the

financial statements under section 143 of the Act based on independent

audit in accordance with the standards on auditing prescribed under section

143 (10) of the act. This is stated to have been done by them vide their

Audit Report dated 21 August 2021.

I, on behalf of the Comptroller and Auditor General of India, have decided

not to conduct the supplementary audit of the financial statements of Mysore

Paints and Varnish Limited, Mysore for the year ended 31 March 2021

under section 143(6) (a) of the Act.

For and on behalf of the

Comptroller and Auditor General of India

Sd/-

(ANUP FRANCIS DUNGDUNG)

ACCOUNTANT GENERAL (AUDIT - II)

KARNATAKA, BENGALURU

Bengaluru

Date : 13.09.2021

59


FORM NO. MGT 9

EXTRACT OF ANNUAL RETURN

as at Financial Year ended on 31.03.2021

Pursuant to Section 92 (3) of the Companies Act, 2013 and rule 12(1) of the

Company (Management & Adminstration) Rules, 2014.

I REGISTRATION & OTHER DETAILS:

i CIN U51434KA1947SGC000503

ii Registration Date 4th November 1947

iii Name of the Company Mysore Paints And Varnish

Limited.

iv Category/Sub-category of the Company State Government Company.

v Address of the Registered office Thilaknagar, Anegundi Road, New

& contact details Bannimantap Extn., Mysore - 570015

Karnataka

vi Whether Listed Company No

vii Name, address & contact details of the NA

Registrar & Transfer Agent, if any.

II Principal Business Activities of the Company

All the business activities contributing 10% or more of the total turnover of the company

shall be stated

SL No Name & Description of main NIC Code of the % to total turnover

Products/services Product/service of the company

1 Paints and Varnishes 2022 11.06%

2 Indelible Ink 2022 88.94%

III Particulars of Holding, Subsidiary & Associate Companies

Sl No Name & Address of the Company CIN/GLN Holding % of ApplicableSibsodoaru/ Shares

SectionAssociate Held

1 NA NA NA NA NA

60


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61


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NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

b)

Ba

nks/F

IN

ILN

ILN

ILN

ILN

ILN

ILN

ILN

ILN

ILN

IL

c)

Centr

al g

ovt

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

d)

Sta

te G

ovt.

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

e)

Ventu

re C

apital F

und

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

f)In

sura

nce C

om

panie

sN

ILN

ILN

ILN

ILN

ILN

ILN

ILN

ILN

ILN

IL

g)

FII

SN

ILN

ILN

ILN

ILN

ILN

ILN

ILN

ILN

ILN

IL

h)

Fore

ign V

entu

re

Capital F

unds

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

i)O

thers

(specify)

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

SU

B T

OT

AL

(B

)(1):

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

(2)

No

n In

sti

tuti

on

sa)

Bo

die

s c

orp

ora

tes

i)In

dia

nN

IL15250

15250

1.4

7N

IL1

52

50

15

25

01.4

7N

ILN

IL

ii)O

vers

eas

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

b)

Ind

ivid

uals

i)In

div

idual s

hare

hold

ers

hold

ing n

om

inal s

hare

capital u

pto

Rs.1

lakhs

NIL

74000

74000

7.1

48654

65346

74,0

00

7.1

4N

ILN

IL

ii)In

div

iduals

share

hold

ers

hold

ing n

om

inal s

hare

capita

l in e

xcess

of R

s. 1

lakh

sN

ILN

ILN

ILN

ILN

ILN

ILN

ILN

ILN

ILN

IL

c)

Oth

ers

(specify)

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

SU

B T

OT

AL

(B

)(2):

NIL

89250

89250

8.6

18654

80596

89250

8.6

1N

ILN

IL

To

tal P

ub

lic

Sh

are

ho

ldin

g(B

)= (B

)(1)+

(B)(

2)

NIL

89250

89250

8.6

18654

80596

89250

8.6

1N

ILN

IL

C.

Sh

are

s h

eld

by C

usto

dia

nfo

r G

DR

s &

AD

Rs

NA

NA

NA

NA

NA

NA

NA

NA

NA

NA

Gra

nd

To

tal (

A+

B+

C)

NIL

1036550

1036550

100

228654

807896

1036550

100

NIL

NIL

62

Mysore Paints & Varnish Limited, Mysore(i

i)S

HA

RE

HO

LD

ING

OF

PR

OM

OT

ER

S

Sh

are

ho

ldin

g a

t th

e

en

d o

f th

e y

ear

% c

han

ge

in s

hare

ho

ldin

g d

uri

ng

the

ye

ar

% o

f share

s

ple

dg

ed

en

cu

mb

erd

to

tota

l sh

are

s

1G

overn

ment

947300

91

.39

NA

947300

91

.39

NA

of K

arn

ata

ka

To

tal

947300

91.3

9N

IL947300

91.3

9N

IL

(iii

)C

HA

NG

E IN

PR

OM

OT

ER

S' S

HA

RE

HO

LD

ING

(S

PE

CIF

Y IF

TH

ER

E IS

NO

CH

AN

GE

) Cu

mu

lati

ve S

hare

ho

ldin

g d

uri

ng

No

. o

f S

hare

s%

of

tota

l sh

are

s o

fth

e c

om

pan

y 91

.39

NO

CH

AN

GE

91

.39

NO

CH

AN

GE

Sl N

o.

Sh

are

ho

lders

Nam

eS

hare

ho

ldin

g a

t th

e

be

gin

nin

g o

f th

e y

ea

r

No.

of

Share

sN

o o

f S

ha

res

% o

f to

tal share

s

of th

e

co

mp

an

y

% o

f share

s

ple

dg

ed

en

cu

mb

erd

to

tota

l sh

are

s

% o

f to

tal

sh

are

s

of th

e

co

mp

an

y

Sl N

o.

Pa

rtic

ula

rsN

o. o

f S

hare

s

Sh

are

ho

ldin

g a

t th

e b

eg

inn

ing

of

% o

f to

tal S

ha

res

of

th

e c

om

pan

y

At

the b

egin

nin

g o

f th

e y

ear

94

73

00

91

.39

94

73

00

Da

te w

ise

in

cre

as

e/d

ec

rea

se

in

Pro

mo

ters

Sh

are

ho

ldin

g d

uri

ng

th

e

ye

ar

sp

ec

ify

ing

th

e r

ea

so

ns

fo

r

incre

ase

/de

cre

ase

(e

.g.

allo

tme

nt/

transfe

r/bonus/s

weat

equity e

tc)

At

the e

nd o

f th

e y

ear

NO

CH

AN

GE

94

73

00

91

.39

94

73

00

63


1W

adiy

ar

Investm

ents

(P

) Ltd

.,9

60

00

.93

NA

96

00

0.9

3N

A

2M

r. B

havarlal B

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58

42

0.5

6N

A5

84

20

.56

NA

3S

ri K

anta

Datta

Na

rasim

ha

raja

Wa

diy

ar

(De

ce

ase

d)

55

00

0.5

3N

A5

50

00

.53

NA

4M

rs. P

ram

oda D

evi

Wadiy

ar

5000

0.4

8N

A5000

0.4

8N

A

5M

ysore

Inte

rnational

Tra

vel A

gency (P

) Ltd

.5000

0.4

8N

A5000

0.4

8N

A

6M

/s.S

ham

asunder

Sale

s C

orp

ora

tion

4537

0.4

4N

A4537

0.4

4N

AN

IL

7A

.R.G

aneshw

ar

2424

0.2

3N

A2424

0.2

3N

A

8M

r. S

un

il K

um

ar

1700

0.1

6N

A1700

0.1

6N

A

9D

ine

sh

Sh

an

tila

l Sh

eth

&

Nare

ndra

Shantila

l Sheth

1200

0.1

2N

A1200

0.1

2

10

Sri G

ovi

ndabhai B

ald

evb

hai

Desia

and M

s B

havana

G D

esai

1100

0.1

1N

A11

00

0.1

1N

AN

IL

TO

TA

L41903

4.0

4N

IL41903

4.0

4N

IL

(iv) S

HA

RE

HO

LD

ING

PA

TT

ER

N O

F T

OP

TE

N S

HA

RE

HO

LD

ER

S (O

TH

ER

TH

AN

DIR

EC

TO

RS

, PR

OM

OT

ER

S &

HO

LD

ER

S O

F G

DR

s &

AD

Rs)

Sh

are

ho

lders

Nam

eS

hare

ho

ldin

g a

t th

e b

eg

inn

ing

of year

Sh

are

ho

ldin

g a

t th

e e

nd

of

the y

ear

No o

f

sh

are

s

% o

f to

tal

Sh

are

s

of th

e

Co

mp

an

y

% o

f share

s

ple

dg

ed

en

cu

mb

ere

d

to t

ota

l share

s

No o

f

sh

are

s

% o

f to

tal

Sh

are

s

of th

e

Co

mp

an

y

% o

f share

s

ple

dg

ed

en

cu

mb

ere

d

to t

ota

l share

s

% c

hange i

n

sh

are

ho

ldin

g d

uri

ng

the y

ear

NO

CH

AN

GE

Sl N

o.

64


(v)

SH

AR

EH

OL

DIN

G O

F D

IRE

CT

OR

S &

KM

P

Sl.N

oC

um

ula

tive S

hare

ho

ldin

g d

uri

ng

the y

ear

No

.of

sh

are

s

Sh

are

ho

ldin

g a

t th

e e

nd

of th

e y

ee

ar

Fo

r E

ach

of

the D

irecto

rs &

KM

P%

of

tota

l sh

are

s o

f

the c

om

pan

y

No

.of

sh

are

s%

of

tota

l sh

are

s o

f

the c

om

pan

y

NIL

NIL

N

IL

N

IL

Fo

r E

ach

of th

e

Dir

ecto

rs &

KM

P

NO

NE

OF

TH

E D

IRE

CT

OR

S O

F T

HE

CO

MP

AN

Y W

ER

E N

EIT

HE

R H

OLD

ING

AN

Y S

HA

RE

S O

F T

HE

CO

MP

AN

Y I

N T

HE

PA

ST

, N

OR

HO

LDIN

G I

T I

N T

HE

PR

ES

EN

T.

NIL

NIL

65

Mysore Paints & Varnish Limited, MysoreV

IN

DE

BT

ED

NE

SS

Ind

eb

ted

ness o

f th

e C

om

pan

y in

clu

din

g in

tere

st o

uts

tan

din

g/a

ccru

ed

bu

t n

ot d

ue fo

r p

aym

en

t

Indebtn

ess a

t th

e b

egin

nin

g o

f th

e

financia

l year

i) P

rincip

al A

mount

10

,00

,

7

4,6

6,6

41

00

,00

0.0

0 N

IL N

IL 7

4,6

6,6

41

ii) In

tere

st d

ue

bu

t n

ot p

aid

-

NIL

NIL

-

iii)

In

tere

st a

ccru

ed

bu

t n

ot d

ue

NIL

NIL

NIL

NIL

To

tal

(i+

ii+

iii)

7

4,6

6,6

41

NIL

NIL

7

4,6

6,6

41

Ch

an

ge in

Ind

eb

ted

ness d

uri

ng

th

e

fin

an

cia

l year

Additio

ns

14,2

5,2

3,7

10

24

,25

,81

47

,11

7.0

0 N

IL N

IL 1

4,2

5,2

3,7

10

Reductio

n7

,56

,00

,00

0 N

IL N

IL

7,5

6,0

0,0

00

Net C

han

ge

6,6

9,2

3,7

10

NIL

NIL

6

,69

,23

,71

0

Ind

eb

ted

ness a

t th

e e

nd

of th

e

fin

an

cia

l year

i) P

rincip

al A

mount

7,4

3,9

0,3

51

NIL

NIL

7

,43

,90

,35

1

ii) In

tere

st d

ue

bu

t n

ot p

aid

2,0

3,8

54

10

,87

,11

7.0

0 N

IL N

IL

2,0

3,8

54

ii) In

tere

st d

ue

bu

t n

ot p

aid

NIL

10

,87

,11

7.0

0 N

IL N

IL

N

IL

To

tal

(i+

ii+

iii)

13

,3

7

,45

,94

,20

50

,87

,11

7.0

0 N

IL N

IL 7

,45

,94

,20

5

Secu

red

Lo

an

s

exclu

din

g d

ep

osit

s

Un

secu

red

Lo

an

sD

ep

osit

sT

ota

l

Ind

eb

ted

ness

66


Sl.N

o

1G

ross

sal

ary

Mr.

H.A

Ven

kate

sh

Ch

airm

an

Par

ticu

lars

of

Rem

un

erat

ion

N

ame

of

the

MD

an

d C

hai

rman

Dr.

Ch

and

rash

ekh

ar D

od

dam

ani,

Man

agiin

g D

irec

tor

B.

R

em

un

era

tio

n t

o o

the

r d

ire

cto

rs:

Sl.N

o 1

(c )

Oth

ers,

ple

ase

spec

ify

Inde

pend

ent

Dir

ecto

rs

NO

T A

PPLI

CABL

E

NO

T A

PPLI

CABL

E

NO

T A

PPLI

CABL

E

NIL

Part

icul

ars

of R

emun

erat

ion

(a) F

ee fo

r at

tend

ing

boar

d co

mm

itte

e m

eetin

gs

Tota

l (1)

(b) C

omm

issi

on

NO

T A

PPLI

CABL

E

Nam

e of

the

Dir

ecto

rs

VI

RE

MU

NE

RA

TIO

N O

F D

IRE

CT

OR

S A

ND

KE

Y M

AN

AG

ER

IAL

PE

RS

ON

NE

L

A.

Re

mu

ne

rati

on

to

Ma

na

gin

g D

ire

cto

r, W

ho

le t

ime

dir

ect

or

an

d/o

r M

an

ag

er/

Ch

air

ma

n

Sl.N

o

1G

ross

sal

ary

2St

ock

op

tio

n

3Sw

eat

Eq

uit

y

4C

om

mis

sio

n

as %

of

pro

fit

oth

ers

(sp

ecif

y)

5O

ther

s, p

leas

e sp

ecif

y

Tota

l (A

)

Cei

ling

as p

er t

he

Act

Rem

un

erat

ion

pai

d is

wel

l wit

hin

th

e ce

ilin

g as

per

th

e C

om

pan

ies

Act

, 201

3.

NIL

NIL

NIL

NIL

23,2

0,73

9.00

23

,20,

739.

00

NIL

Par

ticu

lars

of

Rem

un

erat

ion

(a)

Sala

ry a

s p

er p

rovi

sio

ns c

ont

ain

ed in

sec

tio

n

17(1

) o

f th

e In

com

e Ta

x. 1

961.

(b)

Val

ue o

f p

erq

uis

ites

u/s

17(

2) o

f th

e In

com

e

tax

Act

, 196

1

NIL

Nam

e o

f th

e M

D a

nd

Ch

airm

an

(c )

Pro

fits

in li

eu o

f sa

lary

un

der

sec

tio

n 1

7(3)

of

the

Inco

me

Tax

Act

, 196

1

Dr.

Ch

and

rash

ekh

ar D

od

dam

ani,

Man

agiin

g D

irec

tor

NIL

NIL

Mr.

H.A

Ven

kate

sh

Chai

rman 2,

51,0

63.0

0

25

,71,

802.

00

27,5

81.0

0

27,5

81.0

0

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

2,78

,644

.00

25,9

9,38

3.00

Rem

uner

atio

n pa

id is

wel

l wit

hin

the

ceili

ng a

s pe

r th

e Co

mpa

nies

Act

, 201

3.Tota

l Am

ount

21

,50

,37

6.0

02

,18

,22

6.0

02

3.6

8.6

02

.00

21

,50

,37

6.0

02

,18

,22

6.0

02

3.6

8.6

02

.00

Re

mu

ne

rati

on

pa

id i

s w

ell

wit

hin

th

e c

eil

ing

as

pro

vid

ed

un

de

r th

e C

om

pa

nie

s A

ct,

20

13

.

Tota

l Am

ount

NIL

NIL

NIL

NIL

NIL

Sri

N.V

. P

ha

ne

esh

NIL

NIL

Sl.N

o

Mr.

H.A

Ven

kate

sh

Part

icul

ars

of R

emun

erat

ion

Nam

e of

the

MD

and

Cha

irm

an

Gro

ss S

ala

ry

67


C.

RE

MU

NE

RA

TIO

N T

O K

EY

MA

NA

GE

RIA

L P

ER

SO

NN

EL

OT

HE

R T

HA

N M

D/M

AN

AG

ER

/WT

D

2AO

ther

Non

Exe

cuti

ve D

irec

tors

(b) C

omm

issi

on

(c )

Oth

ers

(TA

)

Tota

l (2A

)

(a) F

ee fo

r at

tend

ing

Boar

d /

Com

mit

tee

Mee

ting

s

Mr.

Gua

rav

Gup

ta

I.A

.S

6,00

0.00 NIL _

6,00

0.00

Mr.

N.V

. Pha

nees

h

6,00

0.00 NIL _

6,00

0.00

Smt N

.R

Jaga

nmat

ha

15,0

00.0

0

NIL

14,4

65.0

0

29,4

65.0

0

Smt H

.A.S

ho

bh

a

12,0

00.0

0

NIL

11,4

65.0

0

23,4

65.0

0

Mr.

V. B

hara

th K

umar

6,00

0.00 NIL

7,00

0.00

13,0

00.0

0

TO

TAL

45

,00

0.0

0

NIL

32

,93

0.0

0

77

,93

0.0

0

C.

Sl.

No

.P

art

icu

lars

of

Re

mu

ne

rati

on

1G

ross

Sa

lary

CE

OC

om

pa

ny

Se

cre

tary

CF

O

(a)

Sa

lary

as

NO

T A

PP

LIC

AB

LEN

OT

AP

PLI

CA

BLE

NO

T A

PP

LIC

AB

LE

(b)

Va

lue

of

NO

T A

PP

LIC

AB

LEN

OT

AP

PLI

CA

BLE

NO

T A

PP

LIC

AB

LE

(c )

Pro

fits

N

OT

AP

PLI

CA

BLE

NO

T A

PP

LIC

AB

LEN

OT

AP

PLI

CA

BLE

2S

tock

Op

tio

nN

OT

AP

PLI

CA

BLE

NO

T A

PP

LIC

AB

LEN

OT

AP

PLI

CA

BLE

3S

we

at

Eq

uit

yN

OT

AP

PLI

CA

BLE

NO

T A

PP

LIC

AB

LEN

OT

AP

PLI

CA

BLE

4C

om

mis

sio

nN

OT

AP

PLI

CA

BLE

NO

T A

PP

LIC

AB

LEN

OT

AP

PLI

CA

BLE

as

% o

f p

rofi

tN

OT

AP

PLI

CA

BLE

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70


SI. PARTICULARS / aAjÚj Note 31-03- 2021 31-03 -2020

No. No. Rs. Újrå Rs. Újrå

A EQUITY AND LIABILITIES

µÉÃgÀÄ ªÀÄvÀÄÛ dªÁ¨ÁÝj

(1) Shareholders Funds

µÉÃgÀÄzÁgÀgÀ ¤¢ü(a) Share Capital/Cu|Új" NàÛjAoèj 3 1,03,65,500 1,03,65,500

(b) Reserves & Surplus/ 4 65,84,14,434 61,33,49,688

ªÀÄÄr¥ÀÄUÀ¼ÀÄ ªÀÄvÀÄÛ ºÉZÀÑ¼ÀUÀ¼ÀÄ

(2) Share application moneypending allotment - -

(3) Non - Current liabilities

Öob‰O"bš #Pš;j EurÜuÔoYúÔjèj"

(a) Other Long term liabilities 5 8,03,000 8,03,000

#:jÚu| ]|Õo~Aj]k IAoæoŠYÔjèj"

(4) Current liabilities

Öob‰O"bš<j EurÜuÔoYúÔjèj"

(a) Short term borrowings 6 7,45,94,205 74,66,641

!?oŒAj]k DoPÔjèj"

(b) Trade payables/Ao@IÇ æoRÔjèj" 7 2,11,92,718 93,34,206

(c) Other current liabilities/ 8 1,04,34,070 2,54,57,242

#:jÚu| Öob‰O"bš<j EurÜuÔoYúÔjèj"

(d) Short-term provisions 9 15,30,743 15,99,371

!?oŒAj]k EjAj@úÔjèj"

TOTAL/ Aur:j‰ 77,73,34,670 66,83,75,648

B ASSETS/qd‰Ôjèj"(1) Non-current assets

Öob‰O"bš #Pš;j qd‰Ôjèj"(a) Property, Plant & Equipment 10 53,59,808 53,94,603

¹ÜgÁ¹Û, AiÀÄAvÀæ ªÀÄvÀÄÛ ¦ÃoÉÆÃ¥ÀPÀgÀtUÀ¼ÀÄ

MYSORE PAINTS & VARNISH LIMITEDCIN : U51434KA1947SGC000503

BALANCE SHEET AS AT 31ST MARCH, 2021

31-3-2021 úx ?u|@ ;u|@ =jXª(Figures in Rs.)

71


(Figures in Rs.)

(b) Intangible assets 10 6,53,466 9,21,647

(c) Deferred tax assets (Net) 11 7,54,251 7,73,829

Aj""à;jrZ;j :uYÔu qd‰Ôjèj" (Âjºèj)

(d) Long-term loans and advances 12 7,40,106 7,27,759

]|Õo~Aj]k DoPÔjèj" Aj":j"‰ Aj""àÔjÛjÔjèj"

2) Current assets/Öob‰O"bš<j qd‰Ôjèj"

(a) Inventories/DjÚjù"Ôjèj" 13 2,02,24,725 2,35,35,485

(b) Trade receivables 14 17,01,46,902 4,42,08,963

Ao@IÇ AjDjr?o\Ôjèj"

(c) Cash and cash equivalents 15 50,81,98,833 52,64,05,632

<jÔj;j" Aj":j"‰ <jÔj;j" DjAjt<j:uÔjèj"

(d) Short-term loans and advances 16 4,78,88,642 4,87,29,249

!?oŒAj]k DoPÔjèj" Aj":j"‰ Aj""àÔjÛjÔjèj"

(e) other current assets 17 2,33,67,935 1,76,78,481

#:jÚu Öob‰O"bš<j qd‰Ôjèj"

TOTAL/Aur:j‰ 77,73,34,670 66,83,75,648

Significant Accounting Policies

See Accompanying

notes to the financial statements 1 to 25

For and on behalf of the Board of Directors

Sd/- Sd/-(Dr. Chandrashekhar Doddamani) (H.A. Shobha)

Managing Director Director

DIN : 07918061 DIN : 06976639

Place : Mysuru

Date : 21-08-2021

As per our report of even date attached

For L.R. Prakash & Co.,


Firm Reg No:002733S

Sd/-

(L.R.Prakash)

Partner

Membership No:26654

UDIN NO : 21026654AAAAEA2483

Place : Mysuru

Date : 19-08-2021

72


PARTICULARS / aAjÚj Note 31-03- 2021 31-03 -2020No.

Rs. Újrå Rs. Újrå

I Revenue from operations (Gross) 18 39,74,67,324 21,52,37,273

Âj~EjÜuh"à;j Nà;j q;oO"Ôjèj"

Less: Excise Duty/ùèuh"Y : !æoxY Bj"Px - -

39,74,67,324 21,52,37,273

II Other Income 19 3,52,60,217 3,67,95,845

III TOTAL INCOME ( MlÄÖ DzÁAiÀÄUÀ¼ÀÄ) 43,27,27,541 25,20,33,118

IV Expenses: ªÉZÀÑUÀ¼ÀÄ

Cost of Materials consumed 20 28,48,72,792 11,26,87,035

¸ÁªÀiÁVæUÀ¼À §¼ÀPÉAiÀÄ ªÉZÀÑ

Changes in Inventories of Finished Goods,

Work In Progress & Stock in trade 21 12,78,704 2,42,58,101

¹zÀÞ¥Àr¹zÀ ºÁUÀÆ ¥ÀæUÀwAiÀÄ°è£À ÀgÀQ£À ªÀåvÁå ÀUÀ¼ÀÄ

Employee Benefits Expense 22 4,88,18,372 3,83,68,975

%;urÇ|TÔjèj e:j;j Au"|b<j GÖj"~Ôjèj"

Finance Costs/ EjLÓod<j AuÖj¥Ôjèj" 23 21,88,865 19,32,483

Depreciation & Ammortisation Expense 10 10,16,583 10,55,347

DjAjùf Aj":j"‰ #èj"AjY AuÖj¥Ôjèj"

Other Expenses/#:jÚu AuÖj¥Ôjèj" 24 2,70,64,831 2,67,39,551

Total Expenses (MlÄÖ ªÉZÀÑUÀ¼ÀÄ) 36,52,40,147 20,50,41,492

V Profit Before Exceptional &

Extraordinary Items Taxes [ III - IV ] 6,74,87,394 4,69,91,625

VI Exceptional Items - -

VII Profit Before Extraordinary ItemsTaxes [ V-VI ] 6,74,87,394 4,69,91,625ÇÁzsÁgÀt, «±ÉÃµÀ ªÀ¸ÀÄÛ ªÀÄvÀÄÛ »A¢£À ªÀµÀðzÀ¨Á§ÄÛUÀ¼ÀÄ ºÁUÀÆ vÉjUÉUÉ ªÀÄÄAa£À ¯Á¨sÀ

MYSORE PAINTS & VARNISH LIMITEDCIN : U51434KA1947SGC000503

Statement of Profit and Loss for the year Ended31ST MARCH, 2021

31-3-2021 úx Aj""Óo‰O"AoÔj"Aj AjCj~;j ?oælj Aj":j"‰ <jCjª;j aAjÚjÜo =jXª(Figures in Rs.)

73


VIII Extraordinary Items - -

IX Profit Before Tax (VII-VIII) 6,74,87,394 4,69,91,625

X Tax Expense 1,92,98,608 1,32,55,374

1) Current tax 1,92,79,030 1,32,51,894

2) Deferred tax 19,578 3,480

XI Profit / (Loss) from continuing

operations (IX-X) 4,81,88,786 3,37,36,251

XII Profit / (Loss) for the period 4,81,88,786 3,37,36,251

XIII Earnings per Equity Share(10/- each) :

Basic 46.49 32.55

Diluted 46.49 32.55

Significant Accounting Policies

See Accompanying notes to the financial statements 1 to 25

(Figures in Rs.)




DIN : 07918061 DIN : 06976639

Place : Mysuru

Date : 21-08-2021




Firm Reg No:002733S

Sd/-

(L.R.Prakash)

Partner

Membership No: 26654


Place : Mysuru

Date : 19-08-2021

74


PARTICULARS/«ªÀgÀ 31-03-2021 31-03-2020

No.of Shares Amount No of Shares Amount

Authorised/ C¢üPÀÈvÀ §AqÀªÁ¼À :Equity Shares of Rs 10/- each/ 15,00,000 1,50,00,000 15,00,000 1,50,00,000vÀ Á 10/- gÀÆ.UÀ¼À ÀªÀiÁ£ÁA±À µÉÃgÀÄUÀ¼ÀÄ

Issued/¤ÃqÀ®àlÖ §AqÀªÁ¼ÀEquity Shares of Rs 10/- each/ 10,36,550 1,03,65,500 10,36,550 1,03,65,500

vÀ Á 10/- gÀÆ.UÀ¼À ÀªÀiÁ£ÁA±À µÉÃgÀÄUÀ¼ÀÄSubscribed and fully paid up

¤ÃqÀ®àlÖ ªÀÄvÀÄÛ ¥ÁªÀw¹zÀ µÉÃgÀÄ §AqÀªÁ¼ÀEquity Shares of Rs 10/- each fully paid up/ 10,36,550 1,03,65,500 10,36,550 1,03,65,500

vÀ Á 10/- gÀÆ.UÀ¼À ¥ÁªÀw¹zÀ ÀªÀiÁ£ÁA±À µÉÃgÀÄUÀ¼ÀÄ(Previous year 10,36,550 Equity Share)

TOTAL/Aur:j‰ 1,03,65,500 1,03,65,500

Reconciliation of the shares outstanding at the beginning and at the end of the reporting period

DgÀA sÀ ªÀÄvÀÄÛ ªÀgÀ¢ü CªÀ¢üAiÀÄ CAvÀåzÀ ¢£ÁAPÀzÀAzÀÄ ¨ÁQ µÉÃgÀÄUÀ¼À ¸ÁgÁA±À 31-03- 2021 31-03- 2020

PARTICULARS/«ªÀgÀ

No of Shares Amount No of shares Amount

Outstanding as at the opening date/ 10,36,550 1,03,65,500 10,36,550 1,03,65,500

DgÀA©üPÀ ¢£ÁAPÀzÀAzÀÄ ¨ÁQAdd: Issued during the period/

F ªÀµÀðzÀ°è ¤ÃqÀ®àlÖzÀÄÝ - - - -

Less: Buy Back (other) during

the period/ F ªÀµÀðzÀ ÉÊ¨ÁåPï (EvÀgÉ) - - - -

Outstanding as at closing date 10,36,550 1,03,65,500 10,36,550 1,03,65,500

CAvÀåzÀÀ ¢£ÁAPÀzÀAzÀÄ ¨ÁQ

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

31-3-2021gÀ CAvÀåPÉÌ ÉÃtÂzÉÃtÂ ¥ÀnÖAiÀÄ°è£À n¥ÀàtÂUÀ¼ÀÄNOTE: 3 / Share Capital / Cu|Új"NàÛjAoèj

Terms/ rights attached to equity shares

i. The Company has only one class of equity shares having a par value of Rs.10/- per share.

Each holder of equity share is entitled to one vote per share.

ii. During the current year, the amount of dividend per share proposed as distribution to

equity shareholders was Rs. 2.5 per share (Previous year Rs. 2.5 per share)

iii. In event of liquidation of the Company, the holders of equity shares would be entitled to

receive remaining assets of the Company, after distribution of all preferential amounts.

The distribution will be in proportion to the number of equity shares held by the shareholders.

(Figures in Rs.)

75


Details of shares held by each share holder holding more than 5%

µÉÃgÀÄzÁgÀgÀÄ ±ÉÃ.5 QÌAvÀ ºÉZÁÑV µÉÃgÀ£ÀÄß ºÉÆA¢gÀÄªÀªÀgÀ «ªÀgÀUÀ¼ÀÄ

31-03- 2021 31-03- 2020

Name of the Share holder No of Shares % holding in No of shares % holding in

µÉÃgÀÄzÁgÀgÀ µÉÃgÀÄzÁgÀgÀ ºÉ ÀgÀÄ that class of that class of Share Share

Govt. of Karnataka PÀ£ÁðlPÀ ÀPÁðgÀzÀ ¥Á®Ä 9,47,300 91 9,47,300 91

Others (Each less than 5%) 88,750 9 88,750 9

EvÀgÉ ±ÉÃ.5QÌAvÀ PÀrªÉÄ 10,36,050 100 10,36,050 100

Note 4 - Reserves and Surplus /ªÀÄÄr¥ÀÄ ªÀÄvÀÄÛ ºÉZÀÑ¼ÀUÀ¼ÀÄ

PARTICULARS/«ªÀgÀ 31-03- 2021 31-03- 2020


(a) Capital Reserve/ §AqÀªÁ¼ÀzÀ ªÉÄÃ°£À «ÄÃ À®Ä 32,932 32,932

(b) General Reserve/ ¸ÁªÀiÁ£Àå ¤¢ü

Opening Balance/ ¥ÁægÀA sÀ ²®ÄÌ 10,72,67,987 10,38,94,362

Add: Transfer From Surplus in Statement of Profit & Loss 48,18,879 33,73,625

¥Àæ ÀÄÛvÀ ªÀµÀðzÀ°è ÉÃj¹zÀÄÝ

Closing Balance / ªÀÄÄPÁÛAiÀÄ²®ÄÌ 11,20,86,866 10,72,67,987

(c ) Surplus in Statement of Profit & Loss / ºÉZÀÑ¼ÀUÀ¼ÀÄ

Opening Balance/¥ÁægÀA sÀ ²®ÄÌ 50,60,48,769 47,88,10,183

Add:Profit For the year / ¥Àæ ÀÄÛvÀ ªÀµÀðzÀÄÝ 4,81,88,786 3,37,36,251

55,42,37,555 51,25,46,434

Less : Transferred to General reserve /¸ÁªÀiÁ£Àå ¤¢üUÉ ªÀUÁð¬Ä¹zÀÄ (48,18,879) (33,73,625)

Less : Dividend Paid for the FY 2019-20 (25,91,375) (25,91,375)

Less : Dividend Distribution Tax (5,32,665) (5,32,665)

Closing Balance 54,62,94,636 50,60,48,769

TOTAL/Aur:j‰ 65,84,14,434 61,33,49,688

Note : Transfer to General Reserves is not mandated under the Companies Act, 2013,

Company transferred 10% of profit after tax to General Reserves.

(Figures in Rs.)

76


Note - 5 - Other Long Term Liabilities/EvÀgÉ ¢ÃWÁðªÀ¢ü ºÉÆuÉUÁjPÉ



(a) Other/EvÀgÉ

(i) Rent deposit/¨ÁrUÉAiÀÄ ªÉÄÃ°£À oÉÃªÀtÂ 8,03,000 8,03,000

TOTAL/Aur:j‰ 8,03,000 8,03,000

Note 6 - Short Term Borrowings/C¯ÁàªÀ¢ü ¸Á® ¥ÀqÉAiÀÄÄ«PÉ



(a) Loans repayable on Demand

(i) From Banks/¨ÁåAQ¤AzÀSecured / DzsÁjvÀOverdraft from State Bank of India 7,45,94,205 74,66,641

¸ÉÖÃmï ÁåAPï D¥sï EArAiÀiÁSecured - Overdraft from State Bank of India

(Secured by pledge of Fixed deposit of Rs 1,115.00 Laks)

(Previous year 500 Laks) (ªÀÄgÀÄºÀÆrPÉ oÉÃªÀtÂ

gÀ¹Ã¢CqÀ«lÄÖ ¥ÀqÉzÀzÀÄÝgÀÆ.TOTAL/Aur:j‰ 7,45,94,205 74,66,641

Note 7 - Trade Payables /ªÁtÂdå ¨ÁQUÀ¼ÀÄ



(a) Trade Payables / ªÁtÂdå ¨ÁQUÀ¼ÀÄ:(i) Suppliers 97,99,644 78,42,074

(ii) Services 1,13,93,074 14,92,132

TOTAL/Aur:j‰ 2,11,92,718 93,34,206

Note : The above amount includes dues to micro and small enterprises to the extent

such parties have been identified on the basis of information collected by the

management.

(Figures in Rs.)

(i) The overdraft facility availed from State Bank of India of Rs.5,53,50,000/- at the

rate of 6.50% p.a. against the security of deposits mainatained with the bank.

(ii) The overdraft facility availed from State Bank of India of Rs.4,50,00,000/- at the

rate of 6.70% p.a. against the security of deposits mainatained with the bank.

77


Note - 8 Other Current Liabilities / EvÀgÉ ZÁ°Û ºÉÆuÉUÁjPÉ



(a) Unpaid Dividend /

PÉÆÃjPÉ ¨ÁgÀzÀ ¯Á sÁA±À 7,19,432 6,46,601

(b)Other Payables /

EvÀgÉ ÁQUÀ¼ÀÄ

(i) Statutory dues /±Á À£À§zÀÞ ÁQ 45,90,406 1,51,49,121

(ii) For Employees /£ËPÀgÀjUÉ 1,37,435 38,50,643

(iii)Advance from customers/

UÁæºÀPÀjAzÀ §AzÀ ªÀÄÄAUÀqÀ 10,06,997 9,74,532

(iv)Trade/ Security deposit received/mÉæÃqï / ÉPÀÆåjn qÉ¥Á¹mï 6,56,000 6,56,000

(v) Interest accrued on security deposit/r¥Á¹mï ªÉÄÃ°gÀÄªÀ PÉÆæÃrüPÀÈvÀ §rØ 2,200 84,209

(vi) Others/EvÀgÉ

- Contractually reimbursable expenses/ M¥ÀàAzÀzÀ ¥ÀæPÁgÀ ªÁ¥Á¸Áw ªÀiÁqÀÄªÀ ªÉZÀÑ 99,000 99,000

- Outstanding Liabilities for Expenses/ EvÀgÉ ªÉZÀÑzÀ ºÉÆuÉUÁjPÉUÀ¼ÀÄ 32,22,600 39,97,136

TOTAL/Aur:j‰ 1,04,34,070 2,54,57,242

Note 9 - Short Term Provision /C¯ÁàªÀ¢üAiÀÄ ºÀªÀtÂPÉ



(a) Provision for employee benefits /

£ËPÀgÀjUÉ ÀA§A¢ü¹zÀ ºÀªÀtÂPÉ(i) Provision for bonus and exgratia /¨ÉÆÃ£À¸ï 15,30,743 15,99,371

TOTAL/Aur:j‰ 15,30,743 15,99,371

(Figures in Rs.)

78


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79


Note 11 - Deferred Tax Assets (Net )/ ªÀÄÄAzÀÆrzÀ D¹ÛUÀ¼À vÉjUÉ(¤ªÀé¼À)



Deferred Tax Assets/ªÀÄÄAzÀÆrzÀ D¹ÛUÀ¼À vÉjUÉi) On account of disallowance/ 7,24,600 8,12,830

Deferred tax liability/ªÀÄÄAzÀÆrzÀ vÉjUÉ dªÁ¨ÁÝji) On account of book depreciation and tax depreciation (29,651) 39,001

TOTAL/ªÉÆvÀÛ 7,54,251 7,73,829

Note 12 - Long term loans and advances/¢ÃWÁðªÀ¢ü ¸Á® ªÀÄvÀÄÛ ªÀÄÄAUÀqÀUÀ¼ÀÄ


Rs. Újrå Rs. Újrå(a) Security Deposit/DzsÁgÀ À»vÀ r¥ÁfmïUnsecured, Considered good/DzsÁgÀ gÀ»vÀ, M¼ÉîAiÀÄzÉAzÀÄ ¥ÀjUÀtÂ¸À®àlÖzÀÄÝ 7,40,106 7,27,759

TOTAL/ªÉÆvÀÛ 7,40,106 7,27,759

Note 13 - Inventories/ ÀgÀPÀÄUÀ¼ÀÄ(At lower of cost and net realisable value)

ÀgÀPÀÄUÀ¼À zÀgÀ ªÀÄvÀÄÛ £ÀUÀ¢ÃPÀj À ÉÃPÁVgÀÄªÀ ªÀiË®å CzÀgÀ°è AiÀiÁªÀÅzÀÄ PÀrªÉÄAiÉÆÃ CzÀgÀ DzsÁgÀzÀ ªÉÄÃ¯É



(a) Raw material (including packing material) 1,48,35,116 1,73,05,580

PÀZÁÑ ¥ÀzÁxÀðUÀ¼ÀÄ (¥ÁåQAUï ªÉÄnÃjAiÀÄ¯ï M¼ÀUÉÆAqÀÄ)

[Verified, Valued & Certified by the

Management and internal auditors ] /DqÀ½vÀ ªÀÄAqÀ½¬ÄAzÀ ºÁUÀÆDAvÀjPÀ ÉPÀÌ¥Àj±ÉÆÃzsÀPÀjAzÀ ¥Àj²Ã®£É, ªÀiË®åªÀiÁ¥À£À ºÁUÀÆ ¥ÀæªÀiÁtÂÃPÀj¸À®ànÖªÉ.Less : Provision for Slow / Non moving materials/¤zsÁ£À ºÁUÀÆ (10,71,891) (10,73,304)

§¼ÀPÉAiÀÄ°è®èzÀ ¥ÀzÁxÀðUÀ½UÉ ºÀªÀtÂPÉ1,37,63,225 1,62,32,276

(b) Work in progress/¥ÀæUÀwAiÀÄ°è£À zÁ¸ÁÛ£ÀÄ 14,96,577 14,16,615

(c) Finished goods/¹zÀÞ ªÀ¸ÀÄÛUÀ¼ÀÄ 38,03,503 51,62,169

(d) Other/EvÀgÉ

(i) Silver Coins/ É½î £ÁtåUÀ¼ÀÄ 480 480

(ii) Silver Ingot/ É½î UÀnÖ 9,71,050 9,71,050

Add/(Less): Provision for impairment Gain / (Loss)ªÀÄgÀÄªÀiË®å 1,89,890 (2,47,105)

ªÀiÁ¥À£ÀzÀ £ÀµÀÖ / ¯Á¨sÀzÀ ªÉÄÃ°£À ºÀªÀtÂPÉ11,60,940 7,23,945

TOTAL/Aur:j‰ 2,02,24,725 2,35,35,485

(Figures in Rs.)

80


Note 14 -Trade Receivable/ªÁå¥ÁgÀ ¹éÃPÁgÀUÀ¼ÀÄ

PARTICULARS/«ªÀgÀ 31-03- 2021 31-03 -2020


(a) Oustanding for a period exceeding 6 months/

DgÀÄ wAUÀ½UÉ ªÉÄÃ®àlÄÖ ¨ÁQ EgÀÄªÀÅzÀÄ

Unsecured, considered good/DzsÁgÀ gÀ»vÀ, M¼ÉîAiÀÄzÉAzÀÄ ¥ÀjUÀtÂ¸À®àlÖzÀÄÝ 3,62,83,488 1,14,85,609

Doubtful/¸ÀA±ÀAiÀiÁvÀäPÀ JAzÀÄ ¥ÀjUÀtÂ¹zÀÄÝ 1,966 1,966

Less : Provision for doubtful trade receivables/ (1,966) (1,966)

¸ÀA±ÀAiÀiÁvÀäPÀ ¸Á®UÀ½UÉ ºÀªÀtÂPÉ 3,62,83,488 1,14,85,609

(b) Others/EvÀgÉ

Unsecured , considered good/

DzsÁgÀ gÀ»vÀ, M¼ÉîAiÀÄzÉAzÀÄ ¥ÀjUÀtÂ¸À®àlÖzÀÄÝ 13,38,65,380 3,27,25,320

TOTAL/Aur:j‰ 17,01,46,902 4,42,08,963

Note 15 - Cash and cash equivalents/£ÀUÀzÀÄ ªÀÄvÀÄÛ £ÀUÀzÀÄ ÀªÀiÁ£ÀzÀÄÝ



(a) Cash on hand/PÉÊAiÀÄ°è£À £ÀUÀzÀÄ 39,535 34,147

(b) Balance with Bank/¨ÁåAQ£À SÁvÉAiÀÄ°è£À ±ÀÄ®Ì

(i)In Current Account/ZÁ°Û SÁvÉ 1,67,175 11,68,194

(ii)In Deposit Account/r¥Áfmï SÁvÉ - -

a) With Original Maturity of more than 3 months 39,25,00,000 52,00,00,000

b) Balance held as margin money and security against borrowing 11,47,72,690 45,56,690

(iii) In Earmarked Accounts/«ÄÃ¸À°nÖgÀÄªÀ SÁvÉ

Unpaid Dividend Accounts/PÉÆÃjPÉ ÁgÀzÀ Á sÁA±ÀzÀ SÁvÉ 7,19,432 6,46,601

TOTAL/Aur:j‰ 50,81,98,833 52,64,05,632

(Figures in Rs.)

81


Note : 16 Short term loans and advances/ C¯ÁàªÀ¢ü Á® ªÀÄvÀÄÛ ªÀÄÄAUÀqÀUÀ¼ÀÄ


Rs. Újrå Rs. Újrå(a) Security deposit/DzsÁgÀ ¸À»vÀ r¥Áfmï

Unsecured , Considered good/ 7,37,239 8,02,467

DzsÁgÀ gÀ»vÀ, M¼ÉîAiÀÄzÉAzÀÄ ¥ÀjUÀtÂ¸À®àlÖzÀÄÝ(b) Loans and advance to employee/¸Á® ªÀÄvÀÄÛ ªÀÄÄAUÀqÀ £ËPÀgÀjUÉ

Unsecured, considered good/DzsÁgÀ gÀ»vÀ, M¼ÉîAiÀÄzÉAzÀÄ ¥ÀjUÀtÂ À®àlÖzÀÄÝ 4,50,600 9,49,240

(c) Prepaid Expenses/ ªÀÄÄAZÉ ¥ÁªÀwAiÀiÁzÀ ªÉZÀÑUÀ¼ÀÄUnsecured, considered good/ DzsÁgÀ gÀ»vÀ, M¼ÉîAiÀÄzÉAzÀÄ ¥ÀjUÀtÂ À®àlÖzÀÄÝ 2,85,081 2,06,709

(d) Balances with government authorities/

ÀPÁðj E¯ÁSÉUÀ¼À°è oÉÃªÀtÂUnsecured, considered good/ DzsÁgÀ gÀ»vÀ, M¼ÉîAiÀÄzÉAzÀÄ ¥ÀjUÀtÂ¸À®àlÖzÀÄÝ

(i) GST credit receivable/f J¸ï n SÁvÉAiÀÄ°è 1,57,40,058 2,33,39,192

(ii) GST TDS receivable/ªÀÄÆ®zÀ°è »r¢gÀÄªÀ DzÁAiÀÄ vÉjUÉ 40,18,376 -

(iii) GST Deffered tax - 39,928

(iv) GST Refund ceivable - 50,00,000

(v) MEIS Duty Scrip Credit 29,63,984 -

(e) Others/EvÀgÉUnsecured, Considered good/

DzsÁgÀ gÀ»vÀ, M¼ÉîAiÀÄzÉAzÀÄ ¥ÀjUÀtÂ À®àlÖzÀÄÝ(i) Advance to Suppliers/ RjÃ¢UÁV ªÀÄÄAUÀqÀ 17,64,859 16,22,541

(ii) Adv to MPVL EPF Trust A/c 8,57,712 8,57,712

(iii) Adv to PWD department 4,20,864 89,369

(iv) Adv to MUDA 13,12,500 -

(v) Income Tax 1,20,83,871 1,16,99,144

(vi) Income Tax for FY 2020-21 72,53,498 41,22,947

TOTAL/Aur:j‰ 4,78,88,642 4,87,29,249

Note 17 - Other current assets / EvÀgÉ ZÁ°Û D¹ÛUÀ¼ÀÄ


Rs. Újrå Rs. Újrå(a) Accruals/ PÀÆærüÃPÀÈvÀ

(i) Interest accrued on deposit/

r¥Áfmï ªÉÄÃ É PÀÆærüÃPÀÈvÀªÁVgÀÄªÀ §rØ 2,33,67,935 1,76,78,481

TOTAL/Aur:j‰ 2,33,67,935 1,76,78,481

(Figures in Rs.)

82


Note 18 - Revenue from operations/ ¤ªÀðºÀuÉ¬ÄAzÀ §AzÀ DzÁAiÀÄUÀ¼ÀÄ



(a) Sale of product/GvÀà£ÀßUÀ¼À ªÀiÁgÁl¢AzÀ(i) At Head Office (Mysuru Karnataka) 39,74,57,543 21,51,92,021

Less : Stock Transfers made to branch (Madurai branch) 6,40,678 8,80,752

Net sales 39,68,16,865 21,43,11,269

(ii) Sales made at Madurai branch 6,40,678 8,80,752

Total sales 39,74,57,543 21,51,92,021

(b) Other operating revenue

Sale of scrap 9,781 45,252

39,74,67,324 21,52,37,273

(c) Less : Excise Duty - -

TOTAL/ªÉÆvÀÛ 39,74,67,324 21,52,37,273

Note 19 - Other Income/EvÀgÉ DzÁAiÀÄUÀ¼ÀÄ


Rs. Újrå Rs. Újrå(a) Interest Income/oÉÃªÀtÂ ªÉÄÃ°£À §rØ(i) Interest from bank on deposit (Gross)/oÉÃªÀtÂ ªÉÄÃ°£À §rØ 3,02,78,918 3,53,92,638

(ii) Interest on Income tax refund 2,04,330 -

(iii) Interest from CESCOM on Scurity Deposit 24,327 -

(b) Net gain on foreign currency translation 1,92,487 66,493

(c) Other non operating income/EvÀgÉ DzÁAiÀÄUÀ¼ÀÄ(i) Rental income from operating lease/¨ÁrUÉ¬ÄAzÀ ¥ÀqÉzÀzÀÄÝ 10,11,792 9,83,675

(ii) Other Receipts/EvÀgÉ dªÉÄ 3,707 3,008

(iii) Duty drawback from export of Indilible Ink 1,43,677 3,13,916

(iv) MEIS Duty credit scrip from export of Indilible Ink 29,63,984 -

(v) Misc income from silver ingot valuation 4,36,995 36,115

TOTAL/ªÉÆvÀÛ 3,52,60,217 3,67,95,845

Note 20 - Cost of material consumed/¥ÀzÁxÀðUÀ¼À §¼ÀPÉAiÀÄ ªÀiË®å


Rs. Újrå Rs. ÚjråRaw Material( including packing material) consumed/

PÀZÁÑ ¥ÀzÁxÀðUÀ¼ÀÄ §¼ÀPÉAiÀiÁzÀzÀÄÝ(¥ÁåQAUï ªÉÄnÃjAiÀÄ¯ï ¸ÉÃjzÀAvÉ)Opening Stock/DgÀA sÀ zÁ¸ÁÛ£ÀÄ 1,73,05,580 2,65,76,246

Add / Less: Adjustment for slow moving item/

¤zsÁ£À §¼ÀPÉAiÀÄ ªÀ¸ÀÄÛUÀ½UÉ ÀjºÉÆA¢¹zÀÄÝ (1,413) (3,050)

Add: Purchase/RjÃ¢ 28,24,03,741 10,34,19,419

29,97,07,908 12,99,92,615

Less: Closing stock/CAwªÀÄ zÁ¸ÁÛ£ÀÄ (1,48,35,116) (1,73,05,580)

Cost of material consumed/¥ÀzÁxÀðUÀ¼À£ÀÄß §¼À¹zÀÄÝ 28,48,72,792 11,26,87,035

(Figures in Rs.)

83


Note 21 - Changes in inventories of finished, work in progress and stock in trade/

¹zÀÞ¥Àr¹zÀ ªÀ¸ÀÄÛ ºÁUÀÆ ¥ÀæUÀwAiÀÄ°è£À ¸ÀgÀPÀÄUÀ¼À ªÀåvÁå¸ÀUÀ¼ÀÄ



Inventories at the end of year/ªÀµÀðzÀ PÉÆ£ÉAiÀÄ zÁ¸ÁÛ¤£À «ªÀgÀ

Finished goods/¹zÀÞ ªÀ¸ÀÄÛUÀ¼ÀÄ 38,03,503 51,62,169

Work in progress/¥ÀæUÀwAiÀÄ°è£À zÁ¸ÁÛ£ÀÄ 14,96,577 14,16,615

53,00,080 65,78,784

Inventories at the begning of the year/ªÀµÀðzÀ ¥ÁægÀA¨sÀ zÁ¸ÁÛ¤£À «ªÀgÀ

Finished goods/¹zÀÞ ªÀ¸ÀÄÛUÀ¼ÀÄ 51,62,169 2,92,27,179

Work in progress/¥ÀæUÀwAiÀÄ°è£À zÁ¸ÁÛ£ÀÄ 14,16,615 16,09,706

65,78,784 3,08,36,885

Net (Increase) / decrease 12,78,704 2,42,58,101

Note 22 - Employee benefit expense/ £ËPÀgÀgÀ Ë®¨sÀåzÀ ªÉZÀÑUÀ¼ÀÄ



Salaries & Wages/¸ÀA§¼À ªÀÄvÀÄÛ ªÉÃvÀ£À 3,57,73,700 3,10,50,030

Contribution to provident & other fund/ sÀ«µÀå¤¢ü ºÁUÀÆ EvÀgÉ ¤¢ü ªÀAwUÉ 87,93,478 27,66,067

Staff welfare expense/¹§âA¢ü AiÉÆÃUÀPÉëÃªÀÄ ªÉZÀÑUÀ¼ÀÄ 42,51,194 45,52,878

TOTAL/Aur:j‰ 4,88,18,372 3,83,68,975

Note 23 - Finance cost/ºÀtPÁ¸ÀÄ ªÉZÀÑUÀ¼ÀÄ



(a) Interest expense -

(i) Borrowings/§rØ ªÉZÀÑUÀ¼ÀÄ - ¸Á®zÀ ªÉÄÃ¯É 21,06,101 17,89,469

(b) Bank charges/¨ÁåAPï ªÉZÀÑUÀ¼ÀÄ 82,764 1,43,014

TOTAL/Aur:j‰ 21,88,865 19,32,483

(Figures in Rs.)

84


Note 24 - other expenses/EvÀgÉ ªÉZÀÑUÀ¼ÀÄ



Power, Fuel/«zÀÄåvï ªÀÄvÀÄÛ EAzsÀ£À 4,71,760 4,62,640

Rent/¨ÁrUÉ 1,01,392 1,34,476

Repairs and maintenance - Building/PÀlÖqÀ ¤ªÀðºÀuÉ 39,400 30,500

Repairs and maintenance - Machinery/ 1,42,311 1,05,502

AiÀÄAvÉÆæÃ¥ÀPÀgÀtUÀ¼À ¤ªÀðºÀuÉ

Repairs and maintenance - Office/PÀZÉÃj ¤ªÀðºÀuÉ 4,82,130 5,65,473

Repairs and maintenance - Vehicles/ªÁºÀ£ÀUÀ¼À ¤ªÀðºÀuÉ 3,91,484 3,02,864

Insurance/«ªÉÄ 3,50,973 5,36,253

Rates & Taxes/zÀgÀUÀ¼ÀÄ ªÀÄvÀÄÛ vÉjUÉUÀ¼ÀÄ 6,47,701 3,08,729

Postage and Telephone/CAZÉ ªÀÄvÀÄÛ zÀÆgÀªÁtÂ 2,62,954 2,95,369

Travelling Expenses/¸ÁjUÉ ªÉZÀÑ 2,60,356 5,96,469

Printing & Stationery/ªÀÄÄzÀæt ªÀÄvÀÄÛ ¯ÉÃR£À ¸ÁªÀiÁVæ 1,43,050 2,27,243

Carriage Outwards /ºÉÆgÀ ¸ÁUÁtÂPÉ ªÉZÀÑ 4,15,567 29,89,855

(Including Maintenance of Delivery Van)

Sales discount/ªÁå¥ÁgÀ ¸ÉÆÃr 79,035 1,18,503

Advertisement/eÁ»ÃgÁvÀÄ 10,54,314 3,43,249

Business Promotion/ªÁå¥ÁgÀ C©üªÀÈ¢Þ 1,59,557 1,29,533

Legal and Professional/PÁ£ÀÆ£ÀÄ ªÀÄvÀÄÛ ªÀÈwÛ ªÉZÀÑUÀ¼ÀÄ 8,72,951 7,39,149

Payment to Auditors( Refer Note (i) )/¯ÉPÀÌ¥Àj±ÉÆÃzsÀPÀjUÉ ¥ÁªÀw¹zÀÄÝ 1,10,000 1,10,000

ISO Charges/LJ¸ïN ªÉZÀÑUÀ¼ÀÄ 53,000 52,000

Website Development Charges/ªÉ¨ï¸ÉÊmï C©üªÀÈ¢Þ ªÉZÀÑUÀ¼ÀÄ - 12,550

Expenditure on Corporate Social Responsibility/ 19,00,000 20,57,817

¸ÁªÀiÁfPÀ ºÉÆuÉUÁjPÉ

(Figures in Rs.)

85


Royalty/¸ÁéªÀÄå ±ÀÄ®Ì 1,42,29,853 68,71,638

Trade Charges/ªÁå¥ÁgÀzÀ ªÉZÀÑUÀ¼ÀÄ 2,82,870 3,73,216

Testing Charges/¥Àj«ÃPÀët ªÉZÀÑUÀ¼ÀÄ 2,71,150 5,07,792

Leakage & Damages/¸ÉÆÃgÀÄ«PÉ ªÀÄvÀÄÛ ºÁ¤UÉÆ¼ÀUÁzÀzÀÄÝ - 39,301

Service Tax/ ÉÃªÁ vÉjUÉ - 18,826

Sundry Balances Written off/¸ÀtÚ ¥ÀÄlÖ ¨ÁQ vÉUÉzÀÄ ºÁQzÀÄÝ 1,610 3,669

Security Charges/¨sÀzÀævÁ ªÉZÀÑUÀ¼ÀÄ 37,42,582 35,32,191

Sitting Fees to Directors/¤zÉÃð±ÀPÀgÀÄUÀ¼À À sÁ sÀvÀå 45,000 36,000

Membership Fee / Books & Periodicals 43,831 96,906

ÀzÀ ÀåvÀé ±ÀÄ®Ì/¥ÀÄ ÀÛPÀ ªÀÄvÀÄÛ ¤AiÀÄvÀPÁ°PÉUÀ¼ÀÄ

Donation/ªÀAwUÉ ºÀt - 25,00,000

Prior Period Item - 26,825

PF Deficit - 17,65,013

R & D Expenditure on Indelible Ink bottle & pen 5,10,000 8,50,000

TOTAL/Aur:j‰ 2,70,64,831 2,67,39,551



i) Payment to Auditors -

As Auditors -For Statutory Audit / 1,10,000 1,10,000

±Á¸À£À§zÀÞ ¯ÉPÀÌ¥Àj±ÉÆÃzsÀ£ÉUÉ ¸ÀA§A¢ü¹zÀÄÝ

Sub Total 1,10,000 1,10,000

86


NOTE 1: BACKGROUND

MYSORE PAINTS & VARNISH LIMITED (‘the Company’) was incorporated on

November 4, 1947 as The Mysore Lac & Paint Works Ltd as a limited company under the

Mysore Companies Act, XVIII of 1938.The name is changed to its present name on May

30,1989 under the Companies Act, 1956 (‘the Act’). The company has its registered office at

Mysore, Karnataka, India.

The company is engaged in the business of Manufacturing & Supplying of paints & allied

products in the domestic as well as export market. The company also specializes in manufacture

and supply of Indelible Ink (Voter’s Ink) for all the parliamentary, assembly and local bodies’

elections in India Since 1962. The company has been supplying this Indelible Ink to various

countries.

NOTE 2: SIGNIFICANT ACCOUNTING POLICIES

Basis of accounting

The Financial Statements have been prepared in accordance with Indian Generally Accepted

Accounting Principles (“GAAP”) under the historical cost convention on accrual basis and are

in accordance with the applicable accounting standards issued by the Institute of Chartered

Accountants of India (ICAI) and prescribed in the Companies (Accounting Standards) Rules,

2006. These Accounting policies have been consistently applied, except where a newly issued

accounting standard is initially adopted by the Company. Management evaluates the effect of

accounting standards issued on a going concern basis and ensures that they are adopted as

mandated by the ICAI.

The Company is a Small and Medium-sized Company (SMC) as defined in the General

Instructions in respect of Accounting Standards notified under the Companies Act, 2013.

Accordingly the company has complied with the Accounting Standards as applicable to a Small

and Medium-sized Company.

Use of Estimate

The presentation of financial statements requires estimates and assumptions to be made

that affect the reported amount of assets and liabilities and disclosures relating to contingent

assets and liabilities on the date of financial statements and reported amount of revenues and

MYSORE PAINTS & VARNISH LTD., MYSURU

CIN : U51 434KA1947SGC000503

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021

87


expenses during the reporting period. Differences between the actual results and estimates

are recognised in the period in which the results are known / materialised.

Revenue Recognition

The revenue in respect of sale of goods is recognized when the risk and rewards of

ownership and control in the goods is transferred. Sales are accounted net of excise duty. In

respect of domestic sales the risk and rewards and control are considered as transferred as and

when the material against the sale invoices have been delivered. In respect of export sales, risk

and rewards and control in goods is considered as transferred either on delivery or ex-factory

as per the contract.

Interest on Deposit is accounted on accrual basis. Interest on Income tax refund is accounted

on receipt basis. All other incomes are accounted as & when there is no uncertainty about its

receipt.

Property, Plant & Equipments

Property, plant & Equipments are stated at cost or revaluation net of accumulated

depreciation. Cost comprises of the purchase price and any directly attributable costs of brining

the assets to working condition for its use including interest and other incidental expenses up to

the date of commercial production. Surplus on Revaluation of Fixed Assets is credited to

Revaluation Reserve Account.

Depreciation is provided on Straight Line Method (SLM) based on useful life of the assets

prescribed in Schedule II to the Companies Act, 2013.With regard to the additions, the company

is charging depreciation for full year instead for Pro-rata basis.

Intangible assets are amortized over the period of 10 years.

Intangible Asset

Such assets including application software (other than operating software which is

capitalized as a part of relevant asset) acquired/purchased/developed for use in software

development and services is carried as an intangible asset in terms of Accounting Standard 26

issued by the Institute of Chartered Accountants of India.

Intangible assets are carried at cost less accumulated amortization and impairment losses,

if any. Subsequent expenditure on an intangible asset after its purchase / completion is recognized

as an expense when incurred unless it is probable that such expenditure will enable the asset to

generate future economic benefits in excess of its originally assessed standards of performance

and such expenditure can be measured and attributed to the asset reliably, in which case such

expenditure is added to the cost of the asset.

88


Investments

Long Term Investments are stated at cost. Provision for diminution in value will be made

if the decline in value is other than temporary.

Inventories

Inventories are valued at the lower of cost or the net realizable value after providing for

obsolescence and other losses, where considered necessary. Cost is ascertained on FIFO basis.

Cost includes all charges in bringing the goods to the point of sale, including octroi and

other levies, transit insurance and receiving charges. Work-in-progress and finished goods include

appropriate proportion of overheads and, where applicable, excise duty. Silver ingots are valued

at net realizable value.

Inventories are valued as per Accounting standard 2 [AS 2] “Valuation of inventories”,

issued by ICAI.

a) Raw materials & stores and spares are valued at cost comprising of purchase price,

freight and handling, taxes, duties and other attributable costs, net of CENVAT, VAT &

GST credit.

b) Work in progress is valued at raw material cost plus conversion costs as applicable or net

realizable value, whichever is lower.

c) Finished products are valued at lower of cost or net realizable value.

Cash and cash equivalents

Cash comprises cash on hand and demand deposits with banks. Cash equivalents are

short-term balances (with an original maturity of three months or less from the date of acquisition),

highly liquid investments that are readily convertible into known amounts of cash and which are

subject to insignificant risk of changes in value.

Income Taxes

Tax expense comprises of both current and deferred taxes. Current Tax is provided on

the taxable income using the applicable tax rates and tax laws. Deferred tax assets and liabilities

arising on account of timing difference and which are capable of reversal in subsequent periods

are recognised using the tax rates and tax laws that have been enacted or substantively enacted.

Deferred tax assets are recognized only to the extent there is reasonable certainty that

the assets can be realized in future; however, where there is unabsorbed depreciation or carried

forward loss under taxation laws, deferred tax assets are recognized only when there is a

virtual certainty of realization of such assets. The carrying amount of deferred tax assets are

89


reviewed as at each balance sheet date and written down or, written up to reflect the amount

that is reasonably/virtually certain (as the case may be) to be realized.

Retirement & other employee benefits

Short term employee benefits are accounted in the period during which the services have

been rendered.

Eligible employees receive benefits from provident fund, superannuation fund, employee

state insurance and other funds which are defined contribution plans. Both the eligible employee

and the company make monthly contributions to the respective government administered funds

equal to the specified percentage of the covered employee’s salary. The company has no

further obligation beyond its monthly contributions.

Gratuity - The Company has created a trust and has taken a group gratuity policy with

the Life Insurance Corporation of India for future payment of retiring employee’s gratuities.

The premium thereon has been so adjusted as to cover the liability in respect of all employees

at the end of their future anticipated service with the Company, as per the actuarial valuation

computed by LIC of India.

Leave Encashment - The liability arising on account of leave encashment benefit is

computed and provided of individual employees, subject to the maximum of one hundred forty

days on actuarial basis as per AS 15.

Foreign Currency Transactions

The Company is exposed to currency fluctuations on foreign currency transactions.

Transactions denominated in foreign currency are recorded at the exchange rate prevailing on

the date of transactions.

Exchange differences arising on foreign exchange transactions settled during the year are

recognised in the profit and loss statement of the year.

Customs Duty

Customs Duty has been accounted for on the basis of both payments made in respect of

goods cleared as well as provision made for goods lying in bonded warehouse. Such provision

is included in the valuation of closing stocks of respective materials and goods.

Borrowing costs

Interest and other borrowing costs attributable to the acquisition of or construction of

qualifying assets till the date of commercial use of the assets are capitalised. All other borrowing

costs are charged to revenue.

90


Leases

Company as a lessee

Assets acquired under leases where a significant portion of the risks and rewards of

ownership are retained by the lessor are classified as operating leases. In respect of operating

lease, rentals and all other expenses are treated as revenue expenditure. Operating lease payments

are recognized as expenses in the statement of profit and loss account on a straight line basis

over the lease term.

Company as a lessor

Lease income from operating leases should be recognised in the statement of profit and loss

on a straight line basis over the lease term, unless another systematic basis is more representative

of the time pattern in which benefit derived from the use of the leased asset is diminished.

Impairment of tangible assets

The carrying amounts of assets are reviewed at each balance sheet date if there is any indication

of impairment based on internal / external factors. An impairment loss is recognized wherever the

carrying amount of an asset exceeds its recoverable amount. The recoverable amount is greater of

asset’s net selling price and value in use. In assessing value in use, the estimated future cash flows

are discounted to their present value at the weighted average cost of capital.

Earnings Per Share (EPS)

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable

to the equity shareholders by the weighted average number of shares outstanding during the year.

Diluted earnings per share is computed by dividing the profit / (loss) after tax (including

the post tax effect of extraordinary items, if any) as adjusted for dividend, interest and other

charges to expense or income relating to the dilutive potential equity shares, by the weighted

average number of equity shares considered for deriving basic earnings per share and the

weighted average number of equity shares which could have been issued on the conversion of

all dilutive potential equity shares.

Provisions and Contingent Liabilities

The Company recognises a provision when there is a present obligation as a result of a

past event that probably requires an outflow of resources and a reliable estimate can be made

of the amount of the obligation. A disclosure for a contingent liability is made when there is a

possible obligation or a present obligation that may, but probably will not, require an outflow of

resources. Where there is a possible obligation or a present obligation that the likelihood of

outflow of resources is remote, no provision or disclosure is made.

91


Note : 25 Other Additional Notes / Information Contd.

i) Contingent Liability & Commitments not provided for: (Figures in Rs)

Particulars 31 March, 2021 31 March, 2020

Contingent Liabilities

i) Claim against Company 7,38,559 -

not acknowledge as debt

(refer a)

ii) Others (Refer ( b) 8,75,199 8,75,199

16,13,758 8,75,199

a. The Company has received a notice of demand for FY 2017-18 (A.Y2018-19) for Rs 5,27,542/- for

Dividend Distribution Tax (DDT) along with interest of Rs.2,11,017/-.The company has paid the

Dividend Distribution Tax(DDT) of Rs.5,27,543/- by challan No.03481 Dated.03/10/2018 which is

paid with in due date for the payment of Dividend Distribution Tax.The Company has filed its

response to the income tax notice vide letter dated 03.03.2021 seeking cancelation of demand

notice,since the liability has already been discharged properly.

b. The status of Income tax assessments pending in dispute are as under

Description Amount Forum where Remarks

pending

The Company has filed a revised The IT Dept has

return on 07-01-1999 (AY 1997-98) Commissioner declined to process

for the purpose of refund. 8,75,199 of Income Tax, the assessment, as

The Company has appealed to Mysore the returns were not

CBDT for condonation of delay filed within the

stipulated time.

ii) Disclosure under sec 22 of the MSMED Act 2006.

Particulars 31 March, 2021 1March, 2020

i) Principal amount remaining unpaid to any supplier 31,26,873 70,03,324

as at the end of the accounting year*

ii) Interest due thereon remaining unpaid to any ____ ____

supplier as at the end of the accounting year #

iii) The amount of interest paid along with the amounts of the ____ ____

payment made to the supplier beyond the appointed day

iv) The amount of interest due and payable for the year 1,68,175 1,05,355

v) The amount of further interest due and payable even in ____ ____

the succeeding year, until such date when the interest

dues as above are actually paid

92


*Dues to Micro and Small Enterprises have been determined to the extent such parties have

been identified on the basis of information collected by the Management. This has been relied

upon by the auditors.The interest calculated @ 4.25% rate of interest.

iii) Estimated amount of contracts remaining to be executed on Capital Account (net of

advances) and not provided for is Nil.

iv) Proposed Dividends; Figures in Rs

The amount of dividends proposed to be 31-03-2021 31-03-2020

distributed to Equity Share; 25,91,375 25,91,375

Proposed Dividend

Dividend Distriution Tax on proposed dividend - 5,27,543

*Note:The Income tax act 1961 has repealed

the provision section 115O wef AY 2021-22. 25,91,375 31,18,918

Hence, DDT is not provided.

v) The Company has not entered into any forward contracts to mitigate its risks associated

with foreign currency fluctuations having underlying transactions and relating to firm

commitments or highly probable forecast transactions. The company does not enter

into any forward contract which is intended for trading or speculative purposes.

vi) The breakup of Deferred Tax Asset / (Liability) as on 31 March, 2021 is as given below:

(Figures in Rs)

Arising on account of timing difference in: 31-03-2021 31-03-2020

- Depreciation (DTL) 29,651 (39,001)

- Inadmissable Expenses (DTA) 7,24,600 8,12,830

- Deferred Tax Asset/(liability) (Net) 7,54,251 7,73,829

Deferred Tax Asset (net) on account of the timing differences, (depreciation and other

components) has been computed at Rs.7.54 Laks (P.Y. Rs.7.74 Laks)

vii) Borrowing costs capitalized during the year is Rs.NIL (PY Rs.NIL)

viii) Foreign currency translation difference capitalized during the year is Rs.NIL (PY Rs. NIL).

ix) Statutory Auditors’ Remuneration


a. Audit fees 1,10,000 1,10,000

TOTAL 1,10,000 1,10,000

x) Confirmation from certain parties for amounts due to them/amount due from them as

per accounts of the Company has not been received. Necessary adjustment, if any will

be made when the accounts are reconciled/settled.

93


xi) The Income tax assessments of the company have been completed for the Assessment

year 2013-14 and Assessment year 2016-17. In view of profit for assessment year

2020-21, tax provision has been made to discharge the tax liability of income tax.

xii) The EPFO Authority have demanded penal damage on Rs.5,67,406/- for delayed

payments.The company has appealed against the penal damage demand with CGIT

Bangalore.The matter yet to be adjudicated.No provision has been made for the interest

liability in book of accounts of the company for the FY 2019-20.

xiii) The Company is mainly engaged in the following segments:

a) Paints & Allied Products

b) Indelible Ink

Turnover of Primary Segments 2020-21 2019-20

Paints & Allied Products 4,39,48,089 4,58,83,628

Indelible Ink 35,35,09,454 16,93,08,393

Total 39,74,57,543 21,51,92,021

Turnover of Geographical Segments 2020-21 2019-20

Domestic 38,47,78,062 19,34,73,282

Export 1,26,79,481 2,17,18,739

Total 39,74,57,543 21,51,92,021

Details on segment results, segment assets & liabilities, cost of fixed assets acquired,

depreciation, amortization & other expenses are not determinable. Fixed Assets &

resources used by the Company’s business and liabilities contracted in respect of its

manufacturing facilities are not identifiable in line with the reportable segments as the

same are used interchangeably between segments.

xiv) Closing Stock of Finished Goods (As verified, valued and certified by management)


Paints & Allied Products 30,31,940 43,06,997

Indelible Ink 3,28,204 1,68,645

Stock at Mysore Depot 3,63,274 3,89,298

Stock at Maduari Depot 80,085 2,97,229

Total 38,03,503 51,62,169

94


xv) Consumption of Raw Materials (As verified, valued and certified by management)

Particulars 31st March, 2021 31st March, 2020

Raw Materials & Stores Amount Percentage Amount Percentage

- Imported NIL NIL NIL NIL

- indigenous

(i) Chemicals 24,63,02,351 90.94% 7,36,62,643 70.08%

(ii) Pigment, Extenders,

Flooring Colours, Driers,

Wetting Agents etc. 43,30,340 1.60% 60,55,851 5.76%

(iii) Oils. 2,91,922 0.11% 4,99,332 0.48%

(iv) Solvents. 88,68,718 3.27% 1,03,32,576 9.83%

(v) Resins, Emulsions, Asphalt,

Lac & Bituminous. 1,10,37,978 4.08% 1,45,59,396 13.85%

Total 27,08,31,309 100.00 10,51,09,798 100.00

xvi) Related Party Disclosure:

In terms of Accounting Standard - 18, the company is a State controlled Enterprise as 91.39%

of its Equity shares, nominal value of Rs.94,73,000/- are held by Government of Karnataka

A. Relationships:

1. Subsidiaries Nil

2. Key Management Personnel (KMP) and their Relatives

Description of relationship Names of related parties Period

Mr. Guarav Gupta. I.A.S (30.07.2019 to 02.12.2020)

Principal Secretary to Govt.,

Commerce & Industries

Dept & Chairman.

Mr. N.V. Phaneesh, (02.12.2020 to till date)

Managing Director Dr. Chandrashekhar Doddamani (18.08.2017 to till date)

Relatives of Directors :

NIL

B. Nature of transactions:

The following transactions were carried out with the related parties mentioned in A

above, in the ordinary course of business.

Subsidiaries KMP & Relatives Other Related parties

2020-21 2019-20 2020-21 2019-20 2020-21 2019-20

1 Interest Paid Nil Nil Nil

2 Remuneration Nil 24,32,703 22,57,902 Nil

3 Outstanding Balances

a. Loans Payable Nil Nil Nil

No amount has been provided as doubtful debts or advances / written off or written

back in the year in respect of debts due from / to above related parties.

Chairperson

95


xvii) Earnings in Foreign Currency -

(Figures in Rs)

Particulars 31-03-2021 31-03-2020

Export of goods on FOB basis 1,26,79,481 2,17,18,739

xviii) Leases-

a. The Company’s significant leasing arrangements are mainly in respect of office

premises. The aggregate lease rentals on these leasing arrangements are charged

as rent under “other expenses in Note No. 24” of financial statement. These leasing

arrangements are for a period not exceeding five years and are in most cases

renewable by mutual consent, on mutually agreeable terms and are charged to

statement of profit and loss.

b. The Company has entered into operating lease arrangements for certain surplus

facilities i.e., administrative block. The lease is non-cancellable for a period of 5

years from 1st November, 2014 and may be renewed for a further period of 5 years

based on mutual agreement of the parties. this agrement closed on 31.10.2019, and

same is extended with increase 5% rent based on mutual agreement of the parties.

Particulars 31-03-2021 31-03-2020

Future Minimum lease Amounts

Not later than one year 10,11,792 9,83,675

Later than one year and not later than 5

year 10,11,792 6,74,520

* The Company has leased out its administrative block in Mysore to Patwari Clothing

Pvt Ltd. The rent received Rs. 10,11,792/- has been included under “Other Income in

Note No. 19”. The Company has received deposit towards this leasing agreement.

xix) Earning per share-

The details of earning per Share as per Accounting Standard 20 “Earnings per Share” are

as follows

Particulars 31-03-2021 31-03-2020

Net Profit for the year after Tax 4,81,88,786 3,37,36,252

Less: Preference dividend and tax thereon - -

Net profit for the year attributable to the

equity shareholders 4,81,88,786 3,37,36,252

Weighted average number of equity shares 10,36,550 10,36,550

Par value per share 10 10

Earnings per share - Basic & Diluted 46.49 32.55

xx) Impairment of asset-

Pending identification of assets for disposal, hence no provision is made in the accounts for

impairment of assets.

MYSORE PAINTS & VARNISH LTD., MYSURU

NOTE 25 : OTHER ADDITIONAL NOTE / INFORMATION CONTD.

CIN : U51434KA1947SGC000503

96


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xxii) Other Information

a) In accordance with the press statements regarding supply to R.M.Paints, the

Company has taken action by conducting the domestic enquiry regarding the same

as per Board resolution dated 06/09/95 the concerned official has been terminated

on 20/12/1995. As the Government has also referred the same to COD and the

case is under progress, the amount due of Rs. 3,34,299/- has been shown as

recoverable.

b) In the opinion of the Board of Directors Current Assets, Loans & Advances are

stated at the least collectable value in the Balance Sheet, at which they are

realizable in the ordinary course of business. The Balances of Sundry Debtors,

Creditors, Loans and Advances and Deposits are subject to confirmation from

the parties concerned. The Company is in the process of obtaining confirmation

of balances from such parties.

c) Pending litigation & its impact on its financial position in its financial statements

Particulars Claim Amount Suit filed by

Advances to Suppliers– BPCL :

Dispute on rate difference with the

supplier

10,27,511 The Company

Harikrishna Machine Tech: Claim made

for supply of faulty Machine 18,12,423 The Company

Victory Transformers 8,90,875 The Company

No adverse impact would be there.

If not recovered, will be a loss &

debtors will be reduced to this extent.

Impact on financial position

If not recovered, will be a loss &

advances will be reduced to this

extent.

d) Cash on hand and Inventories are verified and valued by the management in the

presence of the Internal Auditors.

e) As in previous year the closing stock of raw materials as per physical verification

is taken into account at cost and recorded in the stores registers and a sum of Rs.

NIL (P.Y. Rs. Nil) determined as the difference between the physical stock and

book records, which stands absorbed in the value of raw materials and stores

consumption account.

98


f) Details of turnover, particulars of production, and opening balances of stock, receipts

and closing stock of finished goods value are furnished in Annexure – II, and raw

materials consumed ( except packing materials) furnished in Note-25 Other additional

notes / information (xiv).

g) Number of employees were in receipt of remuneration, the aggregate of which was

not less than Rs.60,00,000/- during the year or employed for the part of that year

and who were in receipt of remuneration in which aggregate was not less than

Rs.5,00,000/- per month - Nil (Previous Year : Nil )

h) The Company has taken a New Group leave encashment scheme (NGLES) policy

with the Life Insurance Corporation of India for future payment of employee’s. The

premium thereon has been so adjusted as to cover the liability in respect of all

employees at the end of their future anticipated service with the Company, as per the

actuarial valuation computed by LIC of India.

i) There are trade receivables to the extent of Rs.44,05,757/- which are older more

than 3 years & are beyond the recovery period prescribed under the Limitation Act,

1963. The management has scrutinized all the debtor accounts & assessed wherever

there is a bad or doubtful debt & suitable treatment is given into the books of account.

However there are debtors having balances older than 3 years but the accounts

either belongs to govt. or where the accounts are running, no provision/ write off is

done.

j) There is an advance with a supplier to the extent of Rs.11,71,370 outstanding

for more than 3 years & a suit have been filed by the company to recover.

Though the amount is outstanding for more than 3 years & also disputed by the

supplier, the company has files a suit to recover the same & is confident of full

recovery.

k) There are inventories older than 3 years for Raw material and Packing material &

provision is made for the same though the same is usable in the normal business of

99


the company & would fetch minimum the amount at which they are carried in books

of account.

l) The audited Financial Results are subject to review by the Comptroller & Auditor

General of India under section 143(6) of the Companies Act, 2013.

xxiii Previous years figures have been regrouped, rearranged, reclassified and restated

wherever necessary.

Signatures to the Notes to the Financial Statements 1 to 25 which form an integral part

of the Financial Statements.


Sd/- Sd/-

(Dr. Chandrashekhar Doddamani) (H.A. Shobha)


DIN : 07918061 DIN : DIN : 06976639

Place : Mysuru

Date : 21-08-2021




Firm Reg No:002733S

Sd/-

(L.R. Prakash)

Partner



Place : Mysuru

Date : 19-08-2021

100


MYSORE PAINTS & VARNISH LIMITEDCash Flow statement for the year ended on 31st March 2021

CIN : U51434KA1947SGC000503

31-03-2021 úx úr<uÔuràÛj AjCj~úx <jÔj;j" !Ya<j aAjÚjÜo =jXª

(Figures in Rs.)

ARTICULARS/«ªÀgÀ 31-03-2021 31-03-2020

A. Cash flow from Operating Activities

Net profit before tax and extraordinary items 6,74,87,394 4,69,91,625

Adjustments for

Add : Depreciation and amortization 10,16,583 10,55,347

Add : Finance Cost 21,88,865 19,32,483

Add : Provision for doubtful trade

receivables, loans and advances

Less : Interest Income (3,04,83,248) (3,53,92,638)

Less : Rental Income from operating Lease (10,11,792) (9,83,675)

Less : Net gain on foreign currency traslation (1,92,487) (66,493)

(2,84,82,079) (3,34,54,975)

Operating profit before Working capital Changes 3,90,05,315 1,35,36,650

Changes in Working Capital

Adjustments for (Increase)/Decrease

in Operating Assets

Inventories 33,10,759 3,34,89,602

Trade receivables (12,59,37,939) 13,93,75,231

Short term loans & advances 8,40,607 (1,03,35,688)

Long Term Loans and Advances (12,347) (21,851)

Other Current Assets (56,89,454) (31,18,813)

(12,74,88,374) 15,93,88,481

Adjustments for (Increase)/Decrease

in Operating Liabilities

Trade payables 1,18,58,512 (2,18,62,768)

Other Current Liabilities (1,50,23,172) (2,57,91,131)

Other long term Liabilities - -

Short term borrowings 6,71,27,564 (6,74,20,476)

Long term Provisions - -

Short Term Provision (68,628) (27,347)

6,38,94,276 (11,51,01,721)

(2,45,88,784) 5,78,23,409

Cash flow from Extraordinary items - -

Cash generated from operations (2,45,88,784) 5,78,23,409

Direct tax Paid (1,92,79,030) (1,32,51,894)

Reversal of Provision - - -

Net cash flow from / (used in)

operating activities (A) (4,38,67,814) 4,45,71,515

B. Cash from investing activities

Capital Expenditure on Fixed Assets (7,13,607) (17,43,175)

101





DIN : 07918061 DIN : 06976639

Place : Mysuru

Date : 21-08-2021

Place : Mysuru

Date : 19-08-2021

Rental income from operating Lease 10,11,792 9,83,675

Interest received 3,04,83,248 3,53,92,638

Net gain on foreign currency translation 1,92,487 66,493

Cash flow from investing activities(B) 3,09,73,920 3,46,99,631

C .Cash from Financing Activities

Dividend Paid (31,24,040) (31,24,040)

Net Increase/ (Decrease)

Working Capital Borrowings - -

Finance Cost (21,88,865) (19,32,483)

Share application money received/(Repaid) -

Corporate Dividend tax paid - -

Cash flow/(used in)/ from financing

activities(C) (53,12,905) (50,56,523)

Net Increase in Cash and Cash

equivalent (A +B +C) (1,82,06,798) 7,42,14,622

Cash and Cash Equivalent at the

beginning of the year 52,64,05,631 45,21,91,010

Cash and cash equivalents at the

end of the year 50,81,98,833 52,64,05,631

Note : Closing cash and cash equivalents includes a sum of Rs.7,19,432.73 (PY Rs.6,46,601/-) of

unclaimed dividend and a sum of Rs.32,72,690/- (PY Rs.45,56,690/-) as FD margin against BankGuarantee

* Note: (a) The Cash Flow Statement has been prepared under the “Indirect Method” as set out inthe AS-3 Cash Flow Statement issued by the ICAI

(b) Previous year’s figure have been reclassified to confirm with the current year’spresentation, where applicable

(c) These earmarked account balances with banks can be utilised only for the specific

identified purposes.

In terms of our report attached




Firm Reg No: 002733S

Sd/-

(L.R. Prakash)

Partner



102

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105


OUR PRODUCTS

INDUSTRIAL COATINGS

F 2k Polyurethane Paint

F Epoxy Paints

F Chlorub & Chemical Resistant Paints

F Aluminium Paints

F Anti Corrosive Paints

F Zinc Rich Primer & Coal Tar Epoxy Paints

DECORATIVE COATINGS

F Mylac Synthetic Enamel

F Brindavan Synthetic Enamel

WOOD POLISHES

F Brindavan Alchoholic Polish

SPECIALITIES

F Indelible Ink (Voter’s Ink)

F Road Marking Paint

F Tioxide Stiff Paste

F Sealing Waxes

F Postal Stamp Cancellation Ink

F Indelible Marker Pen (IMP)

PRIMERS

F Wood & Cement Primers

F Red Oxide Steel Primer

F Zinc Chromate Redoxide & Yellow Primer

106


NE

W S

AY

YAJI

RA

O R

OA

D

RO

UT

E

MA

P

TO

A

GM

V

EN

UE

107


Form No. MGT - 11

Proxy Form

[Pursuant to section 105(6) of the Companies Act, 2013 and Rule 19(3) of the Companies(Management and Administration) Rules, 2014)

CIN : U51434KA1947SGC000503

Name of the Company : Mysore Paints and Varnish Limited

Registered Office : New Bannimantap, Mysuru - 570015, Karnataka.

Name of the member (s) :

Registered address :

Email Id :

Folio No. / Client Id :

DP ID :

I/We, being the holder (s) of ..............Shares of the above named Company, hereby appoint

1. Name :

Address :

E-mail ID :

Signature :

Or failling him/her

2. Name :

Address :

E-mail ID :

Signature :

Or failling him/her

3. Name :

Address :

E-mail ID :

Signature :

as my / our proxy to attend and vote (on a poll) for me/us and on my / our behalf at the 75th

Annual general meeting of the Company, to be held on the Saturday 13th day of November

2021 At 11.30 A.M. at the Registred Office of the Company and at any adjournment there

of in respect of such resolutions as are indicated below:

Resolution Particulars

No

1. Adoption of Financial Statements for the Financial Year ended on March 31,2021 and

the Reports of the Board of Directors and Auditors thereon

2. To declare Dividend of Equity Shares for the Financial Year ended on 31st March 2021

3. To fix the remuneration payable to the Statutory Auditors of the Company

Signed on this ..............Day of .............................2021

Signature of Member :

Signature of Proxy holder (s) :

Note : This form of proxy in order to be effective should be duly completed and deposited at the

Registered office of the Company, not less than 48 hours before commencement of the Meeting.

108


MPVL ANNUAL REPORT -2020-21(Final).pdf

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