5 Directors’ Report Dear Members, The Board of Directors (Board) presents the annual report of Amal Ltd together with the audited Financial Statements for the year ended March 31, 2023. 01. Financial results (` lakhs) Standalone Consolidated* 2022-23 2021-22 2022-23 2021-22 Revenue from operations 3,916 4,348 6,132 4,348 Sales and other income 4,319 4,530 6,215 4,379 Profit | (loss) before tax 137 332 (1,569) 162 Provision for tax 64 90 42 51 Profit | (loss) for the year 73 242 (1,611) 111 Other comprehensive income (net of tax) 3 (1) 3 (1) Total comprehensive income | (expense) 76 241 (1,608) 110 Balance brought forward 212 (29) 69 (40) Balance carried forward 288 212 (1,539) 69 * Consolidated results for 2022-23 and 2021-22 are not comparable because of the commencement of operations by Amal Speciality Chemicals Ltd (ASCL), a wholly-owned subsidiary in the quarter ended on September 30, 2022. 02. Performance Standalone During 2022-23, revenue from operations decreased by 10% (decrease in selling price by 8% and decrease in sales volume by 2%) from ` 4,348 lakhs to ` 3,916 lakhs. The Company reported profit before tax (PBT) of ` 137 lakhs in 2022-23 against PBT of ` 332 lakhs in 2021-22 on account of decrease in price realisation and volume due to sluggish demand. Consolidated Consolidated revenue fromoperations increased from ` 4,348 lakhs to ` 6,132 lakhs on account of sales from 300 tpd Sulphuric acid plant, commissioned in ASCL, a whol ly-owned subsidiary in the quarter ended on September 30, 2022. The consolidated loss is ` 1,569 lakhs against the standalone PBT of ` 137 lakhs. The negative PBT is on account of technology related problems (being resolved), lower utilisation | sale of steam and lower sales due to subdued demand and higher interest and depreciation. 03. Dividend Directors have not recommended dividend considering the loss of ` 1,611 lakhs on consolidated basis. 04. Rights issue of equity shares Dur ing 2022-23, the Company al lot ted 29,37,662 equity shares of ` 10 each at a premium of ` 160 per share aggregating to ` 4,994 lakhs on a rights basis to eligible shareholders. Post issue, equity share capital of the Company is ` 1,236.27 lakhs. 05. Energy conservation, technology absorption and foreign exchange earnings and outgo Information required under Section 134(3) (m) of the Companies Act, 2013, read with Rule 8(3) of the Companies (Accounts) Rules, 2014, as amended from time to time, forms a part of this report which is given on page number 12. 06. Insurance The Company has taken adequate insurance to cover the risks to its employees, property (land
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