Dear
Shareholders,
Your directors present the 12th Annual Report of Cargotrans Maritime Limited along with
the Audited Standalone and Consolidated Financial Statements and Auditors' Report thereon
for the nancial year 2024-2025.
Financial Results:
The highlights of the standalone nancial results for the year ended on March 31, 2025
are given below:
| PARTICILARS |
Standalone |
Consolidated |
|
31/03/2025 |
31/03/2024 |
31/03/2025 |
31/03/2024 |
| 1. Revenue from Operations |
7967.38 |
6169.89 |
8747.20 |
6768.30 |
| 2. Other income |
138.81 |
44.67 |
51.00 |
39.40 |
| 3. Total income |
8106.19 |
6214.57 |
8798.20 |
6807.70 |
| 4. Pro t / (loss) Before Depreciation, Amortization and Taxation |
358.02 |
268.14 |
536.70 |
314.25 |
| Depreciation and Amortization |
22.92 |
28.48 |
94.59 |
32.55 |
| 5. Pro t / (Loss) before Extra-Ordinary & Exceptional Items |
335.10 |
239.66 |
442.11 |
281.70 |
| 6. Less: Extraordinary/ Exceptional items |
0 |
0 |
0 |
0 |
| 7. Pro t before Tax (PBT) |
355.10 |
239.66 |
442.11 |
281.70 |
| Less: Taxes (including deferred tax) |
|
|
|
|
| Current Tax |
79.86 |
62.02 |
87.43 |
73.74 |
| Income Tax expense of previous year |
8.78 |
0.00 |
9.99 |
0.00 |
| Less Deferred Tax |
0.22 |
(0.50) |
1.88 |
(0.50) |
| 8. Pro t after Tax (PAT) |
246.24 |
178.15 |
342.81 |
208.45 |
Performance Review
During the year under review, your company has recorded revenue from operations of Rs.
7967.38 Lacs as compared to previous year's revenue from operations of Rs. 6169.89 Lacs.
Net Pro t after taxation was Rs. 246.24 Lacs as compared to Net Pro t after taxation of
Rs. 178.15 Lacs of previous year.
During the year under review, your company has recorded consolidated revenue from
operations of Rs. 8747.20 Lacs as compared to previous year's consolidated revenue from
operations of Rs. 6768.30 Lacs. Consolidated Net Pro t after taxation was Rs. 342.81 Lacs
as compared to Consolidated Net Pro t after taxation of Rs. 208.45 Lacs of previous year.
Your Directors are hopeful for the better performance in the coming years.
State of A airs and Future Outlook:
The company operates as an international logistics solutions provider, with a primary
focus on sea logistics services. These services include ocean freight forwarding (both
Full Container Load and Less than Container Load), transportation, customs clearance,
warehousing, and other value-added logistics solutions. Since commencing freight
forwarding operations in 2012, the company has steadily expanded its market presence,
broadened its service portfolio and strengthened its expertise and capabilities.
In October 2019, the company acquired full ownership of Cargotrans Maritime Agencies
Private Limited (CMAPL) and Cargotrans Maritime Forwarding Private Limited (CMFPL),
marking its entry into the customhouse agency services and coastal shipping sector
(domestic sea transport within India). To further support its expansion strategy, the
company established a Wholly Owned Subsidiary, Cargotrans Lines Pte. Ltd., in Singapore in
May 2023, which is primarily involved in shipping-related activities.
Dividend:
The Board of Directors have recommended a dividend of Rs. 0.50/- per share (5%)
[previous year NIL] per equity share of Rs. 10/- (Rupees Ten only) each fully paid-up of
the Company. Dividend is subject to approval of members at the ensuing Annual General
Meeting and shall be subject to deduction of income tax at source.
Since there was no unpaid / unclaimed dividend in the Company for a period of seven
years or more, the Company is not required to transfer any amount to the Investor
Education and Protection Fund as required under the provision of Section 125 of the
Companies Act, 2013.
Transfer to Reserve Fund:
The Board has transferred Rs. 11.80 Lacs to Reserves of the company for the period
under review as compared to Rs. 0.10 Lacs in previous year.
The highlights of performance of Subsidiaries, Associates and Joint Venture companies
and their contribution to the overall performance of the company during the period under
review:
The company has 3 subsidiaries as on the date of report. After the closure of the year
under review, no further Company was incorporated or has become subsidiary, associate or
joint venture.
The highlights of performance of Subsidiaries are mentioned in the nancial statements
and AOC-1 forming part of this Annual Report.
Directors and Key Managerial Personnel('KMP')
Change in Directorate:
Appointment:
None of the Directors appointed during the nancial year 2024-2025.
Change in Designation:
No changes in designation of Directors during the Financial Year 2024-2025.
Resignation:
None of the Directors resigned during the nancial year 2024-25.
Directors liable to retire by rotation
In accordance with the provisions of Section 152 of the Companies Act, 2013 and the
Rules framed hereunder, Mr. B Chandershekhar Rao (DIN: 07965862) will retire by rotation
at the ensuing Annual General Meeting and he being eligible has o ered himself for
re-appointment.
Key Managerial Personnel (KMPs)
There is no change in Key Managerial Personnel during the Financial Year 2024-2025.
As on 31.03.2025, following are the Key Managerial Personnel of the Company:
Mr. Mathew Jacob Managing Director
Mrs. Manju Edwin Whole-time Director
Mr. B Chandershekhar Rao CEO and Whole Time Director
Mr. Nasrullah Samiullah Ansari Chief Financial O cer
Mr. Mahek Jitendra Kasta - Company Secretary & Compliance O cer
Management Discussion and Analysis Report:
Pursuant to Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, the Management Discussion and Analysis Report highlighting inter alia
the business performance, risk management, internal control and a airs of the Company for
the reporting year is attached as Annexure I to this Report.
Corporate Governance:
Since the company is listed on SME platform of BSE, the compliance with the Corporate
Governance provisions as speci ed in Regulation 17 to 27 and Clauses (b) to (i) of
Regulation 46(2) and para C, D and E of Schedule V of SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, shall not apply to the Company. Hence
Corporate Governance Report is not enclosed in this Annual Report. However, as a good
corporate governance practice, the Company has been complying some of the important
compliance in connection with the aforesaid provisions / regulations voluntarily.
Number of Meetings of the Board:
During the year under review, 13 Board Meetings were held on
1. Monday, 1 April, 2024
2. Tuesday, 30 April, 2024
3. Wednesday, 29 May, 2024
4. Monday, 29 July, 2024
5. Monday, 05 August, 2024
6. Thursday, 22 August, 2024
7. Friday, 06 September, 2024
8. Monday, 11 November, 2024
9. Thursday, 14 November, 2024
10. Monday, 16 December, 2024
11. Wednesday, 08 January, 2025
12. Thursday, 06 March, 2025
13. Wednesday, 12 March, 2025
The gap between two Board Meetings was well within the limit as prescribed in the
Companies Act, 2013. In respect of the meetings, proper notice was given and the
proceedings were recorded and signed Minutes Book was maintained for the purpose.
Declaration by Independent Directors:
The Independent directors have submitted a declaration of independence, stating that
they meet the criteria of independence provided under section 149(6) of the Companies Act,
2013. The independent directors have also con rmed compliance with the provisions of Rule
6 of Companies (Appointment and Quali cations of Directors) Rules, 2014, as amended,
relating to inclusion of their name in the databank of Independent Directors.
In the opinion of the Board, all the Independent Directors possess requisite quali
cations, experience, expertise including Pro ciency and hold high standards of integrity
for the purpose of Rule 8(5)(iiia) of the Companies (Accounts) Rules, 2014.
Familiarization Policy:
The policy and details of familiarization programme imparted to the Independent
Directors of the Company are available on the website of the Company at the
www.cargotrans.in.
Policy on Directors' Appointment and Remuneration:
Pursuant to the requirements of Section 134 and 178 of the Company Act, 2013, read with
relevant rules framed thereunder, the Board has framed a Remuneration Policy. The policy
on appointment of Board Members and policy on remuneration of the Directors, KMPs and
Senior Managerial Personnel is attached as per Annexure - II and can be accessed at
the company's website at www.cargotrans.in.
This policy interalia, provides
a) The criteria for determining quali cations, positive attributes and independence of
directors; and
b) Policy on remuneration of directors, key managerial personnel and other employees.
The policy is directed towards a compensation philosophy and structure that will reward
and retain talent; and provides for a balance between xed and incentive pay re ecting
short and long-term performance objectives appropriate to the working of the Company and
its goals.
Constitution of Various Committees:
Various committees were constituted during the nancial year 2024-25 which are as under:
Audit Committee:
Audit Committee which comprised of following Directors as its members:
Mr. Udayan Menon Chairman Non-Executive Independent Director
Mr. Praveen Agarwal Member Non-Executive Independent Director
Mr. Edwin Alexander Member
Non-Executive Director
The Audit Committee meet 4 times during the year under review on
1. Wednesday, 29 May, 2024
2. Tuesday, 20 August, 2024
3. Thursday, 14 November, 2024
4. Tuesday, 04 February, 2025
The very purpose of the Audit Committee is to assist the Board in ful lling its
oversight responsibilities of monitoring nancial reporting processes, reviewing the
Company's established systems and processes for Internal nancial controls, governance and
reviewing the Company's Statutory and Internal Audit activities. The Committee is in
compliance with the provisions of Regulation 18 of the SEBI (LODR) Regulations, 2015 and
Section 177 of the Companies Act, 2013.
The Company has established a vigil mechanism and oversee through the committee, the
genuine concerns expressed by the employees and other Directors. The Company has also
provided adequate safeguards against victimization of employees and Directors who express
their concerns. The Company has also provided direct access to the chairman of the Audit
Committee on reporting issues concerning the interests of co employees and the Company.
Nomination & Remuneration Committee:
Nomination & Remuneration Committee which comprised of following Directors as its
members:
Mr. Udayan Menon Chairman Non-Executive Independent Director
Mr. Praveen Agarwal Member Non-Executive Independent Director
Mr. Edwin Alexander Member
Non-Executive Director
The Nomination & Remuneration Committee meet 2 times during the year under review
on
1. Wednesday, 29 May, 2024
2. Thursday, 06 March, 2025
Terms of Reference
The Terms of Reference of the Nomination and Remuneration Committee are as under:
1. To identify persons who are quali ed to become Directors and who may be appointed in
senior management in accordance with the criteria laid down, recommend to the Board their
appointment and removal and shall carry out evaluation of every Director's performance.
2. To formulate the criteria for determining quali cations, positive attributes and
independence of a Director and recommend to the Board a policy, relating to the
remuneration for the Directors, Key Managerial Personnel and other employees.
3. The Nomination and Remuneration Committee shall, while formulating the policy ensure
that:
a. the level and composition of remuneration is reasonable and su cient to attract,
retain and motivate Directors of the quality required to run the Company successfully;
b. relationship of remuneration to performance is clear and meets appropriate
performance benchmarks; and
c. remuneration to Directors, Key Managerial Personnel and senior management involves a
balance between xed and incentive pay re ecting short and long-term performance objectives
appropriate to the working of the company and its goals:
4. Regularly review the Human Resource function of the Company
5. Discharge such other function(s) or exercise such power(s) as may be delegated to
the Committee by the Board from time to time.
6. Make reports to the Board as appropriate.
7. Review and reassess the adequacy of this charter periodically and recommend any
proposed changes to the Board for approval from time to time.
8. Any other work and policy, related and incidental to the objectives of the committee
as per provisions of the Act and rules made there under.
Stakeholders Relationship Committee:
Stakeholders Relationship Committee which comprised of following Directors as its
members:
| Mr. Udayan Menon |
Chairman |
Non-Executive Independent Director |
| Mr. Praveen Agarwal |
Member |
Non-Executive Independent Director |
| Mr. Edwin Alexander |
Member |
Non-Executive Director |
The Nomination & Remuneration Committee meet 2 times during the year under review
on
1. Wednesday, 29 May, 2024
2. Tuesday, 20 August, 2024
3. Friday, 15 November, 2024
4. Tuesday, 04 February, 2025
Annual Return:
A copy of the Annual Return of the company for the nancial year ended on March 31, 2025
as provided under section 92(3) of the Act, in the prescribed form, is hosted on the
Company's website and can be accessed at www.cargotrans.in.
Subsidiaries, Joint Venture & Associate Companies:
The Company has following mentioned Subsidiary, Joint Venture and Associate Companies
during the nancial year 2024-2025:
| Sr. No. Name of the Company |
Type of Company |
% of Holding |
| 1. Cargotrans Maritime Agencies Private Limited |
Subsidiary Company |
99.99% |
| 2. Cargotrans Maritime Forwarding Private Limited |
Subsidiary Company |
99.99% |
| 3. Cargotrans Lines PTE. Ltd. |
Subsidiary Company |
100% |
The salient features of the nancial statement of these entities are set out in the
prescribed form AOC-1 attached to this report as
Annexure III.
There has been no material change in the nature of business of the subsidiaries and the
Company does not have any material subsidiary. The Policy on Material Subsidiary framed by
the Board of Directors of the Company is available on Company's website at
www.cargotrans.in.
The Audited nancial statements of all subsidiaries are available on the website of the
Company www.cargotrans.in.
Deposits:
The Company has not accepted any deposit within the meaning of Section 73 of the
Companies Act, 2013 read with the Companies (Acceptance of Deposit) Rules, 2014, during
the year under review.
Directors' Responsibility Statement:
The nancial statements are prepared in accordance with the Accounting Standards (AS)
pursuant to the provisions of the Companies Act, 2013 and regulations issued by SEBI.
Accounting policies have been consistently applied except where a newly issued Accounting
Standard is initially adopted or are vision to an existing Accounting Standard requires a
change in the accounting policy. These form a part of the Notes to the nancial statements.
In accordance with the provisions of section 134(3)c of the Act and based on the
information provided by the Management, the directors state that:
I. In the preparation of the annual accounts, the applicable Accounting Standards have
been followed along with proper explanation relating to material departures;
II. They have selected such accounting policies and applied them consistently and made
judgments and estimates that are reasonable and prudent so as to give a true and fair view
of the state of a airs of the Company at the end of the nancial year and of the pro t of
the Company for FY 2024-2025;
III. They have taken proper and su cient 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. They have prepared the annual accounts on a going concern basis;
V. They have laid down internal nancial controls to be followed by the Company and that
such internal nancial controls are adequate and are operating e ectively; and
VI. They have devised proper systems to ensure compliance with the provisions of all
applicable laws and that such systems are adequate and are operating e ectively.
Particulars of Loans, Guarantees and Investments:
The Company has not given any Loans or guarantees or made investments in contravention
of the provisions of the Section 186 of the Companies Act, 2013. The particulars of the
loan / investments/ guarantee, if any made by the company are provided in the notes
forming part of the nancial statements.
Share Capital:
During the year under review, following changes took place in the capital structure:
1. The Authorized Share Capital of the Company has been increased from Rs. 4,50,00,000
to Rs. 5,00,00,000 at the Extra Ordinary General Meeting held on December 10, 2024.
2. The Company has issued and allotted 6,00,000 Equity Shares of Face Value of Rs. 10/-
each at a premium of Rs. 72/- per share on a preferential basis through Private Placement
at the Board meeting held on January 8, 2025. The shares are made available for trading on
BSE Limited from April 8, 2025.
Registered O ce of the Company:
After the closure of the year, the Company has shifted its registered o ce of the
Company from DBZ-S-61, 2nd Floor, Shyam Paragon, Gandhidham, Kachchh-370201, Gujarat,
India to DBZ-S-124, 1st Floor, Ward 12A, Gandhidham, Kachchh-370201, Gujarat, India w.e.f.
June 9, 2025.
Related Party Transactions:
All contracts/arrangement/transactions entered by the Company during the nancial year
under review with the related parties were in compliance with the applicable provisions of
the Act and SEBI Listing Regulations. A detail of transaction entered into is also
reviewed by the Audit Committee on a quarterly basis.
All related party transactions entered during FY 2024-2025 were on arm's length basis
and not material under the Act and SEBI Listing Regulations and in accordance with the
approval of shareholders obtained at Annual General Meeting held on 30 September 2023.
None of the transactions required members' prior approval under the Act. The particulars
of the contracts or arrangements with the related parties as per the provisions of Section
188 of the Companies Act, 2013 is given in prescribed form AOC 2 attached to the report as
Annexure IV.
Material Changes and Commitments a ecting the nancial position of the Company:
There were no material changes and commitments a ecting the nancial position of the
Company which occurred between the end of the nancial year and the date of this board
report.
Particulars of Employees:
The disclosure required under Section 197 (12) of the Companies Act, 2013 read with
Rule 5 (1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules,
2014 is annexed as Annexure-V and forms an integral part of this Report.
The statement containing particulars of employees as required under section 197 of the
Companies Act, 2013 read with Rule 5(2) of the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014, will be provided upon request. In terms of Section 136
of the Companies Act, 2013, the Report and accounts are being sent to the members and
others entitled thereto, excluding the information on employees' particulars which is
available for inspection by members at the Registered o ce of the Company during business
hours on working days of the Company between 11:00 A.M. to 4:00 P.M. up to the date of
ensuing Annual General Meeting. If any member is interested in obtaining a copy thereof,
such member may write to the Company Secretary in this regard.
Energy Conservation, Technology Absorption & Foreign Exchange Earnings and Outgo:
Information on conservation of Energy, Technology absorption, Foreign Exchange earnings
and outgo required to be disclosed under Section 134 of the Companies Act, 2013 read with
Companies (Accounts) Rules, 2014 are provided hereunder:
Formal Annual Evaluation:
Pursuant to section 178 of the Act, the Nomination and Remuneration Committee and the
Board has decided that the evaluation shall be carried out by the Board only and the
Nomination Remuneration Committee will only review its implementation and compliance.
Further, as per Schedule IV of the Act and provisions of SEBI Listing Regulations, the
performance evaluation of independent directors shall be done by the entire Board
excluding the directors being evaluated, on the basis of performance and ful llment of
criteria of independence and their independence from Management. On the basis of the
report of the performance evaluation, it shall be determined whether to extend or continue
the term of appointment of independent director.
Accordingly, the Board has carried out an annual performance evaluation of its own
performance, that of its Committees, Chairman and individual directors.
Regulatory Action:
There are no signi cant and material orders passed by the regulators or courts or
Tribunals that could impact the going concern status and operations of the company in
future.
Internal Financial Controls:
The Companies Act, 2013 re-emphasizes the need for an e ective Internal Financial
Control system in the Company. The system should be designed and operated e ectively. Rule
8(5) (viii) of Companies (Accounts) Rules, 2014 requires the information regarding
adequacy of Internal Financial Controls with reference to the nancial statements to be
disclosed in the Board's report. To ensure e ective Internal Financial Controls the
Company has laid down the following measures:
1 The internal nancial control systems are commensurate with the size and nature of its
operations.
2 All legal and statutory compliances are ensured on a monthly basis. Non-compliance,
if any, is seriously taken by the management and corrective actions are taken immediately.
Any amendment is regularly updated by internal as well as external agencies in the system.
3 Approval of all transactions is ensured through a preapproved Delegation of Authority
Schedule which is reviewed periodically by the management.
4 The Company follows a robust internal audit process. Transaction audits are conducted
regularly to ensure accuracy of nancial reporting, safeguard and protection of all the
assets. Fixed Asset veri cation of assets is done on an annual basis. The audit reports
for the above audits are compiled and submitted to Board of Directors for review and
necessary action.
Whistle Blower Policy/Vigil Mechanism:
The Company has established a Vigil Mechanism / Whistle Blower Policy to deal with
instances of fraud and mismanagement, if any. The Policy has a systematic mechanism for
directors and employees to report concerns about unethical behavior, actual or suspected
fraud or violation of the Company's Code of Conduct or policy.
Independent Directors' Meeting:
Pursuant to the Act and SEBI Listing Regulations, the independent directors must hold
at least one meeting in nancial year without attendance of non-independent directors and
members of the Management. Accordingly, independent directors of the Company met on
Tuesday, 25 March, 2025 and:
reviewed the performance of non-independent directors of the company and the board as a
whole;
assessed the quality, quantity and timeliness of ow of information between the
Company's Management and the Board that is necessary for the Board to e ectively and
reasonably perform their duties.
Secretarial Standards of ICSI:
The Company has complied with the requirements prescribed under the Secretarial
Standards on meetings of the Board of Directors (SS 1) and General Meetings (SS 2) read
with the MCA circulars.
Internal Audit:
The internal audit function provides an independent view to the Board of Directors, the
Audit Committee and the Senior Management on the quality and e cacy of the internal
controls, governance systems and processes. In line with the RBI's guidelines on Risk
Based Internal Audit, the Company has adopted a Risk Based Internal audit policy.
An audit plan is rolled out after approval of the Audit Committee. Pursuant to Risk
Based Internal Audit Framework, internal audit is aligned in such a manner that assurance
is provided to the Audit Committee and Board of Directors on quality and e ectiveness of
the internal controls, and governance related systems and processes.
The Audit Committee regularly reviews the internal audit reports and the adequacy and e
ectiveness of internal controls. Signi cant audit observations, corrective and preventive
actions thereon are presented to the Audit Committee on a quarterly basis.
Appointment of Internal Auditor:
Mrs. Kunjal Patel, Proprietor of M/s. Kunjal Patel & Associates, Chartered
Accountant, Bhuj (Firm Regd No. 160163W) appointed as an Internal Auditor of the Company
at remuneration as may be mutually agreed between the Internal Auditor and Board of
Directors for the Financial Year 2024-2025.
Appointment of Secretarial Auditor:
Pursuant to the provisions of Section 204 of the Companies Act, 2013 M/s. V N Vasani
& Associates, Practicing Company Secretaries, Rajkot were appointed as Secretarial
Auditors of the Company for conduct Secretarial Audit for Financial Year 2024-2025 at
remuneration as may be mutually agreed between the Practicing Company Secretary and Board
of Directors. Secretarial Audit Report submitted by them in prescribed form MR-3 is
attached as Annexure -VI to this report and does not contain any quali cation,
reservation, disclaimer or adverse remark.
Statutory Auditors:
M/s. S. N. Shah & Associates (FRN: 109782W) were appointed as Statutory Auditors,
for a term of ve years to hold o ce till the conclusion of the Annual General Meeting to
be held for the Financial Year 2028-29.
There are no quali cation, reservation, disclaimer or adverse remark in the Auditors'
report and they have not reported any incident of fraud pursuant to the provision of
Section 143(12) of the Act, accordingly, no such details are required to be reported under
Section 134(3) (ca) of the Act.
Maintenance of Cost Records and Cost Auditor:
The Company is not required to maintain any cost records prescribed under section 148
of the Companies Act, 2013 and rules made thereunder and hence cost audit is also not
applicable.
Human Resources and Industrial Relations:
The Company takes pride in the commitment, competence and dedication of its employees
in all areas of the business. The Company has a structured induction process at all
locations and management development programs to upgrade skills of managers. Objective
appraisal systems based on key result areas (KRAs) are in place for senior management sta
.
The Company is committed to nurturing, enhancing and retaining its top talent through
superior learning and organizational development. This is a part of our Corporate HR
function and is a critical pillar to support the organization's growth.
Health, Safety and Environment Protection:
Company's Health and Safety Policy commits to comply with applicable legal and other
requirements connected with occupational Health, Safety and Environment matters and
provide a healthy and safe work environment to all employees of the Company.
Code of Conduct:
The Company has laid down a Code of Conduct applicable to the Board of Directors and
Senior management which is available on Company's website. All Board members and senior
management personnel have a rmed compliance with the Code of Conduct.
Code of Fair Disclosure:
As required under the new Insider Trading Policy Regulations of SEBI, your directors
have framed new Insider Trading Regulations and Code of Internal Procedures and Conducts
for Regulating, Monitoring and Reporting of Trading by Insider. For details, please refer
to the company's website at www.cargotrans.in.
Listing:
Your company's shares are listed with SME Segment of The BSE Limited, Mumbai (Stock
Code: - 543618). The Company has already paid Annual Listing fees to BSE Limited.
Other Statutory Disclosures:
The Company has a policy on prevention of sexual harassment at the workplace. The
Company has complied with the provisions relating to the constitution of Internal
Complaints Committee under Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act,2013.
The Company has complied with the provisions of the Maternity Bene t Act, 1961,
including all applicable amendments and rules framed thereunder. The Company is committed
to ensuring a safe, inclusive, and supportive workplace for women employees. All eligible
women employees are provided with maternity bene ts as prescribed under the Maternity Bene
t Act, 1961, including paid maternity leave, nursing breaks, and protection from dismissal
during maternity leave. The Company also ensures that no discrimination is made in
recruitment or service conditions on the grounds of maternity. Necessary internal systems
and HR policies are in place to uphold the spirit and letter of the legislation.
During the year under review, no women employees availed maternity leave. The Company
also provides exible working arrangements and nursing breaks to support employees in
balancing work and family responsibilities.
The securities of the Company were not suspended from trading during the year on
account of corporate actions or otherwise.
The Company has not defaulted in repayment of loans from banks and nancial
institutions. There were no delays or defaults in payment of interest/principle of any of
its debt securities.
The Managing Director, as per the terms of his appointment, does not draw any
commission or remuneration from subsidiary company. Hence, no disclosure as required under
section 197(14) of the Act has been made.
Neither any application was made; no any proceeding is pending under the Insolvency and
Bankruptcy Code, 2016 against the Company.
Appreciation and Acknowledgement:
Your Directors, place on record their deep appreciation to employees at all levels for
their hard work, dedication and commitment. The Board places on record its appreciation
for the support and co-operation, your company has been receiving from its Suppliers,
Retailers, Dealers & Distributors and others associated with the Company. The
Directors also take this opportunity to thank all Clients, Vendors, Banks, Government and
Regulatory Authorities for their continued support.
|
FOR AND ON BEHALF OF THE BOARD |
|
FOR CARGOTRANS MARITIME LIMITED |
|
EDWIN ALEXANDER |
MANJU EDWIN |
| Place: Gandhidham |
CHAIRMAN |
WHOLE-TIME DIRECTOR |
| Date: 21st August, 2025 |
DIN : 05211513 |
DIN: 05224705 |
|