Dear Shareholder's
The Directors of Haryana Leather Chemicals Ltd. are pleased to present the 38th Annual
Report and Audited Statement of the Company's accounts for the year ended on 31st March,
2023.
FINANCIAL RESULTS:
A summary of the financial results for the year 2022-23 is given below:
|
2022-23 |
2022-23 |
|
(Rs. in Lacs) |
(Rs. in Lacs) |
| Sales Turnover (Net of Texes) |
4247.89 |
3887.72 |
| Gross Profit |
333.90 |
263.53 |
| Deductions: |
|
|
| Depreciation |
77.68 |
77.01 |
| Interest |
2.85 |
2.98 |
| Profit before tax |
253.37 |
183.54 |
| Less: Provision for Income Tax for the year |
61.35 |
44.20 |
| Add: Provision for Income Tax written back |
0 |
1.10 |
| Less: Previous year's adjustment |
0 |
- |
| Less/(Add): Deferred tax liabilities |
5.92 |
6.90 |
| Profit after tax and available for appropriation |
186.10 |
131.34 |
| Less: Provision for dividend |
0 |
0.00 |
| Less: Provision for dividend tax |
0 |
0.00 |
| Less: Transfer to general reserve |
0 |
0.00 |
| Profit Carried to Balance Sheet |
186.1 |
131.34 |
OPERATIONS:
During the year, there is an increase in sales turnover which stands at Rs.4247.89
lakhs against Rs.3887.72 lakhs of the previous year. The increase in profit of Rs.253.37
lakhs as against Rs.183.54 lakhs of the previous year. The company is able to post better
profit than last year due to increase in sales, tight costing and favorable market
conditions.
CHANGES IN THE NATURE OF BUSINESS, IF ANY
There has been no change in the nature of business of the Company.
DIVIDEND:
The Company has been successful in overcoming the extreme challenges of covid-19
pandemic. Viewing of the fact, the Company has been able to register the good profit for
the last two years. The Company expresses its gratitude's to all shareholders for
supporting the Company in these difficult periods. This year Board of Directors is glad to
recommend 10% dividend to the shareholders for the year 2022-23.
If approved by the Shareholders at the ensuing Annual General Meeting, the above equity
dividend will be paid to those shareholders whose names shall appear in the Register of
Members as on the Book Closure date. The total equity dividend outgo for the financial
year 2022-23 will absorb a sum of Rs.49,08,470/- . Further, the Board of your Company has
decided to transfer amount to the General Reserves for the year under review.
DIRECTORS:
The composition of the Board of Directors of the Company is furnished in the Corporate
Governance Report annexed to this report. Pursuant to the provisions of the Articles of
Association of the Company, the Directors- Dr. K.S.V. Menon (DIN: 00920088), Dr. Massimo
Medini (DIN: 00926147), Mr. Pradeep Behl (DIN: 00703855), Mr. Marco Medini (DIN: 03709885)
and Mr. Kanishk Gupta (DIN: 02243899) are the Directors who are Non-Executive and
Independent and are not eligible to retire by rotation. Mr. Vijay Kumar Garg (DIN:
00236460) is the Non-Independent Director on the Board. However, Mrs. Sippy Jain (DIN:
03189151) is liable to be retire by rotation at the forthcoming Annual General Meeting of
the Company to be held on 16th September, 2023 and thus being eligible offers herself for
reappointment. Mr. Pankaj Jain (DIN: 00206564) is the Managing Director of the Company and
Mr. N.K. Jain (DIN: 00486730) is the Director cum Chairman of the Company and Mrs. Sippy
Jain (DIN:03189151) is the Director in the Company. Mr. Sukanto Choudhury is CFO of the
Company.
STATUTORY AUDITORS:
The members had at the 37th AGM of the Company appointed S C Dewan & Co., Chartered
Accountants, (Firm Registration No. 000934N) Panchkula as Statutory Auditors of the
Company to hold the office from the close of the 37th AGM till the conclusion of the 42nd
AGM, not subject to their appointment being ratified by the members in every AGM has been
appointed for a further term of five years. The members of the Company approved deletion
of the requirement of seeking ratification of appointment of Statutory Auditors at every
AGM pursuant to amendment brought by the Companies Amendment Act, 2017.
The Auditors Report for FY 2022-23 forms part of this Annual Report and does not
contain any qualification, reservation or adverse remark. Auditor s report does not need
any comments for the Directors.
REPORTING OF FRAUD BY AUDITORS:
There were no instances of fraud during the year under review, which required the
Statutory Auditors to report to the Audit Committee and/or the Board under Section 143(
12) of the Companies Act, 2013 and the rules made thereunder.
ACCOUNTING TREATMENT IN PREPARATION OF FINANCIAL STATEMENTS:
The Company followed the guidelines as laid down in the IND-AS, prescribed by the
Institute of Chartered Accountants of India, for the preparation of the financial
statements.
OBSERVANCE OF THE SECRETARIAL STANDARDS ISSUED BY THE INSTITUTE OF COMPANY SECRETARIES
OF INDIA:
The Institute of Company Secretaries of India has issued secretarial standards on board
meetings & general meetings and also issued draft secretarial standards for payment of
dividend, maintenance of register and records, minutes of meetings, transmission of shares
and debentures, passing of resolution by circulation, if required
DECLARATION BY INDEPENDENT DIRECTORS
The Company has received necessary declaration from the Independent Directors
confirming that they meet the criteria of independence as prescribed under the Companies
Act, 2013 and SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.
Independent Directors are in compliance with the Code of Conduct prescribed under Schedule
IV of the Companies Act, 2013.
MEETING OF THE BOARD, COMMITTEES & COMPLIANCE TO SECRETARIAL STANDARDS
The Board meets at regular intervals, with gap between two meetings not exceeding 120
days. During the year under review, the Board met five times.
The Board has three Committees namely Audit Committee (AC), Nomination and Remuneration
Committee (NRC) and Stake holders Relationship Committee (SRC). A detailed note on the
composition of the Board and its Committees (AC, NRC and SRC) is provided in the Corporate
Governance Report included in this Annual Report.
The minutes of the meetings are reviewed at every Board meeting.
During the year under the review, the Company has complied with the provisions of
Secretarial Standard 1 (relating to meeting of the Board of Directors) and Secretarial
Standard 2 (relating to General meeting).
PROCEEDS FROM PUBLIC ISSUES, RIGHT ISSUES AND PREFERENTIAL ISSUES, AMONG OTHERS
The Company did not have any of the above issues during the year under review.
PARTICULARS OF EMPLOYEES u/s 134 (3) OF TH COMPANIES ACT, 2013
The information required pursuant to Section 134 read with Rule 5 (1) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014 in respect of
Directors, Key Managerial Personnel (KMP) and Employees of the Company are proved as
follows: The Company did not employ any person drawing a remuneration of Rs. 5,00,000.00
or above for one month or part of the month or Rs. 60,00,000.00 or above for one year,
whose particulars are required to be mentioned u/s 197 of the Companies Act, 2013.
SECRETARIAL AUDITORS
Pursuant to the provisions of Section 204 of the Companies Act, 2013 and the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company has
appointed M/s. Neeraj Gupta & Associates, a firm of Company Secretaries in Practice
(C.P. No. 4006) to undertake the Secretarial Audit of the Company for the financial year
ended 2022-23. The report on the Secretarial Audit carried out for the year 2022-23 is
annexed herewith as Annexure-B in the specified form MR-3.
The Secretarial Audit Report has a qualification relating to notice from BSE for Fine
levied for Non/Late compliance with Reg. 23(9) for half year ended September 2022 as per
SEBI circular no. SEBI/HO/CFD/CMD/CIR/P/2020/12 dated January 22, 2020.
In this regard the above said compliance has been again done on the next day of
receiving the notice and BSE has waived off fine imposed by the BSE. As per BSE Officials
the Company is a compliant company.
CERTIFICATE FROM A COMPANY SECRETARY IN PRACTICE:
Pursuant to the Listing Regulations, a certificate has been received from M/s Neeraj
Gupta & Associates, a firm of Company Secretaries in Practice (C.P. No. 4006), that
none of the Directors on the Board of the Company has been debarred or disqualified from
being appointed or continuing as directors of companies by the Securities and Exchange
Board of India, Ministry of Corporate Affairs or any such statutory authority.
AUDIT REPORT FOR RECONCILIATION OF SHARE CAPITAL:
M/s Manoj Gupta & Associates, Company Secretaries, carried out a share capital
audit to reconcile the total admitted equity share capital with the NSDL and the CDSL and
the total issued and listed equity share capital. The audit report confirms that the total
issued/paidup capital is in agreement with the total number of shares in physical form and
the total number of dematerialised shares held with the NSDL and the CDSL
SUBSIDIARY & CONSOLIDATED FIANCIAL STATEMENTS:
The Company is not required to consolidate its financial statements for the year ended
31st March, 2023 as the Company doesn't have any Subsidiary, Associates and Joint Ventures
Companies.
COST AUDITOR'S COMPLIANCE:
The Central Government has directed that a cost audit of the Company should be
conducted in the manner specified in MCA order 52/26/CAB-201 Dt. 24-01-2012, or any
amendment thereof, by a Cost Accountant within the meaning of the Cost and Works
Accountants Act,1959 as amended thereof.
However, as per Companies (cost record and audit) Rules, 2014 notified by Ministry of
Corporate Affairs, cost audit is not applicable to the Company by virtue of its turnover
being less than the prescribed limits.
Therefore, the Board did not proceed with the appointment of cost auditor and cost
audit for the year 2022-23.
The Company is properly maintaining its cost record internally.
CORPORATE SOCIAL RESPONSIBILITY:
With the enactment of the Companies Act, 2013, India has become the forerunner to
mandate spend on Corporate Social Responsibility (CSR) activities through a statutory
provision.
The new CSR provisions put format and greater responsibility on Companies in India to
set out clear framework and processes to ensure strict compliance. However, what the
Companies Act does is bring more Companies into the fold and increase the total CSR spend.
Section 135 (1) of Company act 2013 mandates the CSR expenditure/CSR Applicability only
for the Companies into the fold and increase the total CSR spend.
Section 135 (1) of Company Act 2013 mandates the CSR expenditure/CSR Applicability only
for the Companies having following: a) Net worth of Rs. 500 crore. b) Turnover of Rs. 1000
crore. c) or net profit of Rs. 5.00 crore where net profit excludes income from overseas
branch & divided distribution by Company on which section apply.
As the Company, Haryana Leather Chemicals Limited doesn't fall under any of the
categories as mentioned above, the Company was not required to constitute any CSR policy
or to make any expenditure towards CSR funds.
MATERIAL CHANGES AND COMMITMENTS, IF ANY, AFFECTING THE FINANCIAL POSITION BETWEEN THE
END OF THE FINANCIAL YEAR AND DATE OF THE REPORT
There is no such material changes and commitments that effects the financial position
of the Company between the end of the F.Y. 2022-23 and the date of the report.
WOMAN DIRECTOR
In terms of section 149 of the Act 2013 read with Rule 3 of the Companies (Appointment
and Qualification of Directors, Rules, 2014 and SEBI Listing Obligations and Disclosure
Requirements) Regulations, 2015, the Company is required to have a woman Director on its
Board. Mrs. Sippy Jain is already appointed as the Director of the Company.
PROTECTION OF WOMEN AGAINST SEXUAL HARASSMENT AT WORK PLACE
The Company has complied with provisions relating to the constitution of Internal
Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redresser) Act, 2013 [14 of 2013]
TRANSFER OF FUNDS TO INVESTOR EDUCATION AND PROTECTION FUND
The Company is distributing dividend to its shareholders since 2006 on recommendation
of the shareholders of the Company. And pursuant to the provisions of sections 124 and 135
of the Companies Act, 2013 and Investor Education and Protection Fund (Accounting, Audit,
Transfer and Refund) Rules, 2016 as amended from time to time, for the unclaimed dividend
for the year 2015-16 amounting to Rs. 3,91,347.20, the Board has taken necessary steps to
transfer the unpaid/unclaimed dividend of Equity Shareholders for the year 2015-16 to the
Investor Education and Protection fund (IEPF) of the Central Government established under
section 124 and 125 of the Companies Act, 2013.
DIVIDEND DISTRIBUTION POLICY
Pursuant to Regulation 43A and recent amendments to SEBI (LODR) Regulations, 2015 and
on the basis of market capitalization your Company has formulated a "Dividend
Distribution Policy". The said policy is available on the website of the Company at
www.leatherchem.com
NOMINATION AND REMUNERATION POLICY
The Nomination and Remuneration Committee of Directors (NRC) reviews the composition of
the Board of Directors of the Company, to ensure that there is an appropriate mix of
abilities, qualifications, experience and diversity to serve the interest of all
shareholders and the Company.
During the year, in accordance with the requirements under Section 178 of the Companies
Act 2013 and relevant clause of Listing Agreement, the NRC formulated a Nomination and
Remuneration Policy to govern the terms of nomination/appointment and remuneration of i)
Directors, ii) Key Managerial Personnel (KMPs) and iii) Senior Management Personnel (SMPs)
of the Company iv) The NRC also reviews succession planning of both SMPs and Board. The
Company's approach in recent years is to have a greater component of performance linked
remuneration for SMSPs. The process of appointing a Director/KMPs/SMPs is, that when a
vacancy arises, or is expected, the NRC will identify, ascertain the integrity,
qualification, appropriate expertise and experience, having regard to the skills that the
candidate will bring to the Board/Company, and the balance of skills added to that of
which the existing members hold.
The NRC will review the profile of persons and the most suitable person is either
recommended for appointment by the Board or is recommended to shareholders for their
election. The NRC has discretion of decide whether qualification, expertise and experience
possessed by a person are sufficient/satisfactory for the concerned position.
NRC will ensure that any person(s) who is/are appointed or continues in the employment
of the company as its Executive Chairman, Managing Director, whole-time Director shall
company with the conditions as laid out under schedule v to the Act 2013.
NRC will ensure that any appointment of a person as an independent Director of the
company will be made in accordance will the provisions of section 149 read with Schedule v
of the Act 2013 along with any other applicable provisions and SEBI (listing Obligations
and Disclosure Requirements) Regulations. 2015
VIGIL MECHANISM / WHISTLE BLOWER PROLICY
While every employee's contract of employment stipulates that he/she will not disclose
confidential information about the employer's affairs in order to bring about
accountability and transparency there should be a mechanism to enable employees to voice
their concerns where they discover information which they believe shows serious
malpractice impropriety abuse or wrong doing within the organization. Which they believe
shows serious assisted to raise concerns without any fear of victimization subsequent
discrimination or disadvantage if the employee has acted in good faith it does not matter
if one is mistaken and the company shall ensure protection from any harassment or
victimization of/against the disclosing the disclosing employee
The company has adopted a whistle blower policy which applies to all permanent
employees of the company including those who are on probation and comes in to effect from
April 1, 2014 to provide a formal mechanism to the Directors and employees to report their
concerns about unethical behavior accrual or suspected fraud or violation of the company's
code of conduct or ethics policy the policy provides for adequate safeguards against
victimization of employees who avail of the mechanism and also provides for direct access
to the chairman of the Audit committee. It is affirmed that no personnel of the company
has been denied access to the Audit committee.
1. Policy and procedure for disclosure. Enquiry and disciplinary action 1.1 Concerns
which may be raised
A whole variety of issues could fall under malpractice impropriety abuse and wrong
doing some of which are listed below
• Breach of any policy or Manual or cord adopted by the company
• Fraud and corruption (e.g. Receiving bribes).
• Health and safety risks. Including risks to the public as well as other
employees e.g. faulty electrical equipment).
• Any sort of financial malpractice
• Abuse of power (e.g. Bullying/harassment)
• Any unlawful act. Including failure to comply with legal or statutory obligation
for and on behalf of the company
• Any other unethical or improper conduct.
1.2 concerns-how to raise/whom to disclose
The concern should be disclosed through letter. E-mail telephone fax or any other
method to any of the following persons who shall comprise the corporate compliance
committee headed by the managing director & Chairman reporting directly to the Audit
Committee of the Board.
The Corporate Compliance Committee comprises the Managing Director & Chairman the
Executive Director & company secretary the CEO and the HR.
All relevant information regarding the concern should be disclosed not later than 1
year from the date on which the employee came to know of the concern up on receipt of the
disclosure the member of the compliance committee receiving the same shell furnish a copy
to the Managing director& chairman who shall decide which member shall be responsible
for the investigation.
1.3 procedure for investigation
Obtain full details and clarifications of the complaint.
Consider the involvement of the company s Auditors of any other external investigation
agency or person. Fully investigate into the allegation with the assistance where
appropriate of other individuals/bodies. Prepare a detailed written report and submit the
same to the Compliance Committee not later than 30 days from the date of disclosure of the
concern Based on the findings in the written report and after conduct of such further
investigation as it may deem fit, the Compliance Committee shall take a decision in the
matter not later than 30 days from the date of the written report. If the complaint is
shown to be justified then they shall invoke disciplinary or other appropriate action
against the defaulting employee. A copy of all decisions of the Compliance Committee shall
be placed before the Audit Committee at the meeting held immediately after such final
decision The employee making the disclosure as well as all other persons involved in the
investigation and the members of the Compliance Committee shall not make public the
Concern disclosed except with the prior written permission of the Audit Committee, except
where the employee is called up on to disclose this by any judicial process.
FIXED DEPOSIT
The Company has not accepted/renewed any fixed deposits during the period under review.
The Company has taken the requisite steps to comply with the recommendations concerning
Corporate Governance. A separate statement on Corporate Governance together with a
certificate on the compliance of conditions of corporate governance as stipulated under
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 has been obtained
from the Statutory Auditors of the Company and the same has been given below as Annexure.
DIRECTOR'S RESPONSIBILITY STATEMENT AS PER SECTION 134 (8) OF THE COMPANIES ACT, 2013
The Board of Director's acknowledges the responsibility for ensuring compliances with
the provisions of section 134 (5) of the Companies Act, 2013 in the preparation of Annual
Accounts for the financial year ended on 31st March, 2023.
The Board of Directors of the Company confirms that a. During the preparing of the
annual accounts, the applicable accounting standards have been material departure has
taken place.
b. The Selected accounting policies were applied consistently and the Director's made
judgments and estimates that are reasonable and prudent so as to give an accurate view of
the state of affairs of the Company as on March 31, 2023 and of the profit of the Company
for the year ended on that date. c. Proper and sufficient care has been taken 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. d. Annual accounts have been prepared on an
ongoing concern basis. e. The Directors have devised proper systems to ensure compliance
with the provision following applicable laws and that such systems were adequate and
operating effectively.
PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS
The Company has neither given any loans or guarantees nor made any investment during
the year under review. The overall limit is within the powers of the Board as applicable
to the Company in terms of the applicable provisions of the Companies Act, 2013.
The particulars of loans, guarantees and investment have been disclosed in the notes of
the Financial Statements for the year ended 31st March, 2023 and form a part of this
Annual Report.
RELATED PARTY TRANSACTIONS
All related party transactions that were entered into during the financial year were on
an arm's length basis and were in the ordinary course of business. There are no materially
significant related party transactions made by the Company with Related Parties which may
have a potential conflict with the interest of the Company at large. All Related Party
Transactions are placed before the Audit Committee as also the Board for approval.
DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATOS, COURTS AND TRIBULAS
IMPACTING THE GOING CONCERN STATUS AND COMPANY'S OPERATIONS IN FUTURE.
There have been no significant and material orders passed by the regulations or courts
or tribunals impacting the going concern status and company's operations in future.
DETAILS OF NON-COMPLIANCE ETC.
The company has received a notice from BSE for Fine levied for Non/Late compliance with
Reg. 23(9) for half year ended September 2022 as per SEBI circular no.
SEBI/HO/CFD/CMD/CIR/P/2020/12 dated January 22, 2020.
In this regard the above said compliance has been done again on the next day of
receiving the notice and BSE has waived the fine imposed on the Company by the BSE. As per
BSE Officials the Company is a compliant company and they approved our application for
waiver by the higher authorities.
INTERNAL FINANCIAL CONTROLS
The Company has in place adequate internal financial controls with reference to
Financial Statements. During the year under review, such controls were retested by the
Auditors and no reportable material weakness was observed.
EXTRACT OF ANNUAL RETURN
The details forming part of the extract of the Annual Return in form MGT-9 is annexed
here with in the Annual Report.
COMPANY'S WEBSITE
The website of your Company, www.leatherchem.com has been designed to present the
Company's business up-front on the home page. The site carries a comprehensive database of
information including the Financial Results of your Company, Shareholding pattern,
Director's & Corporate Profile, details of Board Committees, Corporate Policies and
business activities of your Company. All the mandatory information and disclosures as per
the requirements of the Companies Act, 2013 and Companies Rules 2014 and as per the SEBI
LODR Regulations, 2015 (erstwhile Listing Agreement) has been uploaded.
QUALITY CONTROL:
Leather Chemicals quality systems are essentially built around control of restricted
substances (RS). The most important guidance of RS often comes from the European agency
REACH (Registration, Evaluation and Authorization of Chemicals). In recent years
registration with agencies like ZDHC (Zero Discharge of Hazardous Substance) has also
become essential to upport tanneries that export leather products to the EU and USA. The
company ensures full compliance with REACH regulations and has completed ZDHC testing and
registration of 39 products that are fast selling and constitute 90% of the sales. The
testing under ZDHC is a work in process and more products are under testing and
registration.
Product quality consistency, application quality, shelf-life stability, and Company's
"Green-Trek" safety and environmental ethos have been widely recognized by the
customers. Internal screening and external testing have ensured zero incidence of
detection of any of restricted substances (RS) listed under REACH. ISO 9001:2008 and ISO
14001:2004 systems undergo regular internal and external audits and have ensured strict
compliance at each step. Complaints from the customer side are minimized to near zero.
EXPORT OPERATIONS:
After the upheaval of the last two years, and struggle to maintain the existing
international customer base, the company is now having a bullish outlook towards growth in
export operations. Exports to Russia, Uzbekistan, Turkey, China, Bangladesh and Vietnam
are back on track with a promising future. The company continues to add new markets like
Morocco, Algeria. The openings made in Latin America suffered for a short period due to
freight rate inflation, but due to continued efforts, the company hopes to consolidate its
customer base in Latin America.
The company's future export growth focus will continue to be China. If the travel
restrictions are eased off, the company is positive that export targets for China can be
realized. The new product sampling to China customers has been initiated after the lifting
of Covid restrictions in China. The company also hopes to revive the visits and product
displays at important international leather fairs.
TECHNOLOGY DEVELOPMENT:
For the year 22-23, the company undertook the following technology development projects
towards improvement of production processes.
Recovery of wastewater: The Company's products require purification of water using RO
and demineralization process. This results in a lot of wastewater discharge and increased
load of effluent treatment. The company added a second stage RO for further recovery of
purified water from the wastewater stream. This immensely reduced the need to draw ground
water. The second stage RO and water recovery will improve the water table around the
factory compound that is diminishing fast.
Reduction of evaporation losses: The company attempted reduction of evaporation losses
of some key raw materials stored in underground storage tanks due to atmospheric venting.
During extreme summers, it is feared that highly volatile raw materials evaporate causing
a small percentage of material losses. The company researched the application of breather
valve technology and implemented it to reduce venting losses. Highly evaporative materials
like Acrylonitrile, Iso Propanol and Ethyl Acrylate are no longer escaping into the
atmosphere through their storage tank's vent. The breather valves further ensure that tank
pressure buildup during filling and vacuuming during draw-out is neutralized due to the
action of the breather valve. This way no material loss takes place. The benefit of the
breather valve is further validated by Ultrasonic level sensing using state of the art
Level sensors.
PERSONNEL & INDUSTRIAL RELATION:
The company's employees have demonstrated continued commitment towards growth, a
collaborative attitude in teamwork and increased awareness of safety matters. This has
been made possible by ensuring that department managers define tasks more clearly and
enable their juniors to have more flexibility and independence in day-to-day working and
future projects. The marketing, finance and sales team demonstrated exemplary courage to
fulfill their respective targets. There is no incidence of any unresolved grievance of an
Employee. The management and employee relations continue to enjoy a bond of trust and
mutual respect.
ENVIRONMENT & POLLUTION CONTROL MEASURES:
During the year, the company switched to LPG from SUPERGAS-Netherland. LPG is a much
cleaner fuel as compared to diesel or Biodiesel. The installation of the second stage RO
helped improve water recovery. A changeover from DM to RO water in some products was
successfully implemented. This helped reduce Demineralized water production that
eventually reduced acid and alkali wash. Though the Company had successfully installed
CEMS (Continuous Emission/Effluent Monitoring System) to provide continuous information to
HSPCB, but with the changeover to LPG reduced flue gas emission to nil.
The company's sustainability goals relating to wastewater recovery, reduction in ground
water usage, cleaner fuel and improved energy efficiency will continue to remain at the
core of environment and pollution control measures and will outperform the statutory
regulations. The company has also started inviting proposals for 80-100 KW of rooftop
solar energy generation. Various proposals from leading solar energy companies have been
received and are currently under evaluation.
ACKNOWLEDGEMENT:
The company's suppliers, dealers, service providers, and technical consultants have
continued their wholehearted support and the Directors deeply appreciate their role. The
Directors extend their most sincere thanks to all employees for their commitment to revive
the production and sales operation to pre-covid levels The Directors are thankful to the
esteemed shareholders for their continued support and the confidence reposed in the
Company and its management.
For and on behalf of the Board of Directors of Haryana Leather Chemicals Limited
| Place: Gurugram |
NARENDRA KUMAR JAIN |
PANKAJ JAIN |
| Dated: 28th July, 2023 |
Chairman |
Managing Director-cum- |
|
|
Vice Chairman |
|
(DIN: 00486730) |
(DIN: 00206564) |
|