OCL Iron & Steel Ltd
Directors Reports
TO,
THE MEMBERS,
OCL IRON AND STEEL LIMITED.
The Board of Directors are pleased to present the Company's Fourteenth (14th)
Annual Report on the business and operations of your Company along with the standalone and
consolidated financial statements for the financial year ended March 31, 2019.
FINANCIAL RESULTS
The standalone and consolidated financial statements for the financial year ended March
31, 2019, forming part of this Annual Report, have been prepared in accordance with the
Indian Accounting Standards (Ind AS) as notified by the Ministry of Corporate Affairs.
Key highlights of financial performance of your Company for the financial year 2018-19
are provided below:
|
in Rupees lakhs except per equity share data |
| Particulars |
Standalone |
Consolidated |
|
Year Ended 30.03.2019 |
Year Ended 30.03.2018 |
Year Ended 30.03.2019 |
Year Ended 30.03.2018 |
| Revenue |
|
|
|
|
| Revenue from Operations (Net of Taxes) |
47106.69 |
41446.19 |
47106.69 |
41446.19 |
| Other Income |
142.32 |
457.26 |
142.32 |
503.09 |
| Total Income from Operations |
47249.02 |
41903.45 |
47249.02 |
41949.28 |
| Expenses |
|
|
|
|
| a) Cost of material consumed |
38719.66 |
40739.27 |
38719.66 |
40739.27 |
| b) Changes in inventories of finished goods, work in progress and stock in trade |
(689.30) |
(1017.00) |
(689.30) |
(1017.00) |
| c) Employee Benefit Expenses |
2122.50 |
2176.24 |
2122.50 |
2225.20 |
| d) Finance Cost |
21479.31 |
15711.03 |
21479.31 |
16750.24 |
| e) Depreciation & Amortization Expense |
9153.39 |
9071.52 |
9153.62 |
9827.81 |
| f) Other Expenses |
6891.89 |
7632.53 |
11392.65 |
7790.92 |
| Total Expenses |
77677.45 |
74313.59 |
82178.44 |
76316.43 |
| Profit/(Loss) from before exceptional items and tax |
(30428.43) |
(32410.14) |
(34929.42) |
(34367.16) |
| Exceptional Items |
(4797.42) |
- |
(4797.42) |
- |
| Profit/(Loss) before tax |
(25631.01) |
(32410.14) |
(30132.00) |
(34367.16) |
| Tax Expenses |
(9297.76) |
(6924.95) |
(9297.76) |
(7036.28) |
| Net Profit/(Loss) from ordinary activities after tax |
(16333.25) |
(25485.19) |
(20834.24) |
(27330.88) |
| Other Comprehensive Income (net of tax) |
2.68 |
29.10 |
2.68 |
31.87 |
| Total Comprehensive Income (after tax) |
(16330.58) |
(25456.09) |
(20831.56) |
(27299.01) |
| Income attributable to the consolidated group |
|
|
|
|
| a) To Equity holders |
(16330.58) |
(25456.09) |
(20831.56) |
(27299.01) |
| b) To non controlling interest |
- |
- |
- |
(3.91) |
| Paid up equity share capital (Face Value of Re. 1 each) |
1341.43 |
1341.43 |
1341.43 |
1341.43 |
| Reserves excluding Revaluation Reserves as per balance sheet of previous accounting
year |
- |
(15145.03) |
- |
(27853.32) |
| Earnings per Share (not annualised) |
|
|
|
|
| a) Basic |
(12.18) |
(19.00) |
(15.53) |
(20.37) |
| b) Diluted |
(12.18) |
(19.00) |
(15.53) |
(20.37) |
PERFORMANCE REVIEW
> STANDALONE
During the year under review, the Company earned revenue from operations amounting to
Rs. 47.106.69 lakh as compared to Rs. 41,446.19 lakhs in the previous year. Loss after Tax
stood at Rs. 16,333.25 lakhs as against Loss after Tax of Rs. 25,485.19 lakhs in the
previous year.
> CONSOLIDATED
During the year under review, the Company earned revenue from operations amounting to
Rs. 47.106.69 as compared to Rs. 41,446.19 lakhs in the previous year. Loss after Tax
stood at Rs. 20,834.24 lakhs as against Loss after Tax of Rs. 27,330.88 lakhs in the
previous year.
CONSOLIDATED FINANCIAL STATEMENT
In pursuance of the provision of Section 129 (3) of Companies Act, 2013, a company has
one or more subsidiaries or associate companies, it shall, in addition to standalone
financial statements, prepares a consolidated financial statement of the company and of
all the subsidiaries and associate companies in the same form and manner as that of its
own and in accordance with applicable accounting standards, which shall also be laid
before the annual general meeting of the company along with the laying of its financial
statement. Your Company has Subsidiaries and associate company (Joint Venture) and
consolidation of the same is mandatory as per the Companies (Amendment) Act, 2017.
The directors also present the audited consolidated financial statements incorporating
the duly audited financial statements as prepared in compliance with the Companies Act,
2013, applicable Accounting Standards and SEBI Listing Regulations, 2015 as prescribed by
SEBI is provided in the Annual Report. In accordance with Section 129 of the Companies
Act, 2013, Consolidated Financial Statements are attached and form part of the Annual
Report and the same shall be laid before the ensuing Annual General Meeting along with the
Financial Statements of the Company.
MATERIAL CHANGES AND COMMITMENTS
No material changes and commitments affecting the financial position of your Company
have occurred between the end of the financial year of the Company to which the financial
statements relate and on the date of this report
DIVIDEND
In view of losses incurred during the year under review the Board of Directors has not
recommended any dividend for the financial year ended March 31, 2019.
TRANSFER OF AMOUNTS TO INVESTOR EDUCATION AND PROTECTION FUND
As per Section 124(6) of the Companies Act, 2013 read with Investor Education and
Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 as amended
from time to time, all the shares in respect to which dividend has remained
unclaimed/unpaid for a period of seven Consecutive year or more are required to transfer
in the name of IEPF, but the company is not required to be transferred any amount to the
IEPF established by the Central Government as the company has not declared any dividend
for any financial year.
SHARE CAPITAL
During the year under review, there is no change in the Authorized share capital and
Paid up share capital of the Company.
STATE OF COMPANY'S AFFAIRS
The state of affairs of the Company is presented as part of the Management Discussion
and Analysis (MDA) Report forming part of the Annual Report.
There has been no change in the business of the Company during the financial year ended
31st March, 2019.
CORPORATE GOVERNANCE
Your Company has taken adequate steps to ensure compliance with Regulations 17 to 27
read with schedule V of Securities Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015. The report on Corporate Governance, the Report
on Management Discussion and Analysis and the requisite Certificate from the Auditors of
the Company confirming compliance with the conditions of Corporate Governance are provided
in a separate section which forms part of the Annual Report.
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to the provisions contained in Section 134(5) of the Companies Act, 2013, the
Directors hereby confirm that:
a) in the preparation of the annual accounts for the year ended 31st March,
2019, the applicable Accounting Standards have been followed and there are no material
departures from the same;
b) the Directors have selected such accounting policies and applied them consistently
and made judgements and estimates that are reasonable and prudent so as to give a true and
fair view of the state of affairs of the Company as at 31st March 2019 and of
the profit/ loss of the Company for that period;
c) the Directors have 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;
d) the Directors have prepared the Annual Accounts on a going concern basis;
e) the Directors have laid down internal financial controls to be followed by the
Company and that such internal financial controls are adequate and are operating
effectively; and
f) The Directors have devised proper systems to ensure compliance with the provisions
of all applicable laws and that such systems are adequate and operating effectively.
SUBSIDIARIES AND ASSOCIATES
In accordance with proviso to sub-section (3) of Section 129 of the Companies Act 2013,
a statement containing salient features of the financial statements of the Company's
subsidiaries and associate and the report on their performance and financial position in
Form AOC-1 is annexed as Annexure-I forming part of the Annual Report, which covers
the financial position of subsidiaries and Associate Company.
In accordance with third proviso to Section 136(1) of the Companies Act, 2013, the
Annual Report of your Company, containing therein its audited standalone and the
consolidated financial statements has been placed on the website of the Company. (URL:
http://www.oclsteel.in/ investors.php)
DIRECTORS AND KEY MANAGERIAL PERSONNEL
The Board has following Changes under review period:
| S.No. |
Name Of Director |
Designation |
Appointment |
Resignation |
| 1 |
Mr. Birendra Jee |
Managing Director |
- |
26/05/2018 |
| 2 |
Ms. Khushboo Chugh |
Company Secretary |
02/08/2017 |
17/07/2018 |
| 3 |
Ms. Isha Sablok |
Company Secretary |
17/11/2018 |
30/04/2019 |
| 4 |
Mr. Bhawani Prasad Mishra |
Managing Director |
26/05/2018 |
_ |
| 5 |
M r. Rambabu Si ng h Tomar |
Director |
06/07/2018 |
- |
| 6 |
Mr. Kamdev Behera |
Chief Financial Officer |
26/05/2018 |
- |
| 7 |
Ms. Nirmala Kujur |
Director |
25/02/2019 |
- |
| 8 |
Ms. Anuja Jain |
Company Secretary |
03/06/2019 |
- |
The Board appreciates efforts and contribution towards the growth of the Company during
the tenure of the Directors who had resigned during the reviewed period.
Retire by Rotation on the Board of Directors of the Company:
In accordance with the provisions of Section 152 the Companies Act, 2013 and the
Article of Association of the Company read with Companies (Appointment and Qualification
of Directors) Rules, 2014, Mr. Mahesh Chand Agrawal (DIN-07554315) retires by rotation at
the ensuing Annual General Meeting and being eligible, offers himself for re-appointment.
The details as required under Regulation 36 of SEBI (Listing Obligations and Disclosure
Requirements), Regulations, 2015 regarding Mr. Mahesh Chand Agrawal (DIN-07554315) are
provided in the Notice of the 14th Annual General Meeting. The Board recommends his
re-appointment.
Independent Directors:
All the Independent Directors of the Company have given requisite declarations that
they meet the criteria of independence as provided in Section 149(6) of the Companies Act,
2013 and Regulations 16 & 25 of SEBI (Listing Obligations & Disclosure
Requirements) Regulations, 2015.
During the review period, Key Managerial Personnel (KMPs) of the Company as per Section
2(51) and section 203 of the Companies Act, 2013 are as follows:
| 1. |
Mr. Bhawani Prasad Mishra^ |
Managing Director |
| 2. |
Mr. Birendra Jee^^ |
Managing Director |
| 3. |
Mr. Kamadev Behera |
Chief Financial Officer |
| 4. |
Ms. Isha Sablok* |
Company Secretary |
| 5. |
Ms. Anuja Jain** |
Company Secretary |
^Mr. Bhawani Prasad Mishra appointed as Managing Director with effect from May 26,
2018.
AA
Mr. Birendra Jee resigned from the post of Managing Director with effect from
May 26, 2018.
*Ms. Isha Sablok appointed for the post of Company Secretary with effect from 17
November, 2018 and resigned from the post of Company Secretary with effect from 30 April,
2019.
**Ms. Anuja Jain Appointed for the post of Company Secretary with effect from June 03,
2019.
INDEPENDENT DIRECTORS DECLARATION
The Company has received the necessary declaration from each Independent Director in
accordance with Section 149 (7) of the Companies Act, 2013, that he/she meets the criteria
of independence as provided in Section 149(6) of the Companies Act, 2013 and Regulation 25
of the Securities and Exchange Board of India (Listing Obligations and Disclosure
Requirements), Regulations 2015.
BOARD MEETINGS
The Board met 10 (Ten) times during the year, the details of which are provided in the
Corporate Governance Report that forms part of this Annual Report. The intervening gap
between the meetings was within the period prescribed under the Companies Act, 2013 and
the Securities and Exchange Board of India (Listing Obligations and Disclosure
Requirements), Regulations 2015.
BOARD EVALUATION
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, mandates that
the Board shall monitor and review the Board evaluation framework. The Board evaluated the
effectiveness of its functioning and that of the committees and of individual Directors by
seeking their inputs on various aspects of Board/Committee governance such as the Board
composition and structure, effectiveness of board processes, active participation and
contribution of directors in the Board/Committee meetings and the fulfilment of Directors
obligation and their fiduciary responsibilities.
Further, the Independent Directors at their meeting, reviewed the performance of the
Board, Chairman of the Board and of Non Executive Directors. The meeting also reviewed the
coordination between the Company management and the Board which is required for the Board
to effectively and reasonably perform their duties.
INTERNAL FINANCIAL CONTROL SYSTEMS AND THEIR ADEQUACY
The Company has an Internal Control System, commensurate with the size, scale and
complexity of its operations. To maintain its objectivity and independence, the internal
audit function reports to the Chairman of the Audit Committee and all significant audit
observations and corrective actions are presented to the Committee.
STATUTORY AUDITORS AND AUDITORS REPORT
During the period under review, M/s. A. C. Gupta & Associates, Chartered
Accountants, has resigned as Statutory Auditors of the Company. Consequently, the Board of
Directors had approached M/s Arora & Choudhary Associates, (Firm Registration
No.003870N), Chartered Accountants, to act as the Statutory Auditors of the Company to
fill up casual vacancy caused due to the resignation of M/s. A. C. Gupta & Associates.
The Board of Directors recommended Appointment of M/s Arora & Choudhary Associates,
Chartered Accountants as Statutory Auditors of the Company for the Financial Year
2018-2019 and the same has approved their re-appointment till the ensuring Annual General
Meeting (i.e. 14th AGM) by Members.
The proposal for their re-appointment is included in the notice for Annual General
Meeting sent herewith.
The Company has received a consent letter from the statutory auditors for their
appointment, and a certificate from them that their re-appointment, if made, shall be in
accordance with the conditions as prescribed under the Companies Act, 2013 and that they
are not disqualified for appointment.
The Auditor's Report does not contain any qualifications, reservations or adverse
remarks. The Report is attached hereto and is self-explanatory requiring no further
elucidation.
There is no fraud in the Company during the financial statements ended 31st March,2019,
this is also being supported by the report of the auditors of the Company as no fraud has
been reported in their audit report for the financial statements ended 31st March,2019.
SECRETARIAL AUDIT
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 K. Rahul & Associates, Company Secretaries, to undertake the
Secretarial Audit of the Company. The Report of the Secretarial Audit in Form MR 3 for the
Financial Year ended March 31, 2019 is annexed as Annexure II to the Report. The
observations of Secretarial Auditor of the Company are put in their Report for the
Financial Year ended March 31, 2019 are self explanatory.
SECRETARIAL COMPALIANCE REPORT
Pursuant to the provisions of Regulation 24A of SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, M/s K. Rahul & Associates, Company
Secretaries in practice has given the Secretarial Compliance Report of the Company for the
financial year 2018-19. The Report of the Secretarial Compliance in prescribed format for
the period ended March 31, 2019 is annexed as Annexure III to the Report.
COST AUDITORS
As per Section 148 of the Companies Act, 2013, the Company is required to have the
audit of its cost records conducted by a Cost Accountant in practice. In this connection,
the Board of Directors of the Company has on the recommendation of the Audit Committee,
approved the appointment and remuneration of Mr. Yash Pal Sardana (Membership No.
17996), a Practicing Cost Accountant as the Cost Auditor of the Company for the year
ending 31 March, 2019. The remuneration of the cost auditor is subject to ratification by
the members of the Company.
PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS
Disclosure on particulars relating to loans, guarantees or investments under section
186 of the Companies Act, 2013 have been provided as part of the financial statements.
TRANSACTIONS WITH RELATED PARTIES
In accordance with Section 134(3)(h) of the Companies Act, 2013 read with Rule 8(2) of
Companies (Accounts) Rules, 2014, the particulars of contracts or arrangements with
related parties, referred to in Section 188(1) of the Companies Act, 2013, in the
prescribed Form AOC- 2 are attached as Annexure IV to this Report.
EXTRACT OF ANNUAL RETURN
In terms of Section 134(3) (a) of the Companies Act, 2013 read with Rule 12(1) of
Companies (Management & Administration) Rules, 2014, the extract of Annual Return of
the Company in Form MGT-9 is attached as Annexure V to this Report. Annual Report
is also available on the website on the Company.
ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO
The details as required under Section 134(3)(m) of the Companies Act, 2013 read with
Rule 8(3) of Companies (Accounts) Rules, 2014, regarding conservation of energy,
technology absorption and foreign exchange earnings and outgo are attached as Annexure
VI to this Report.
MANAGEMENT DISCUSSION & ANALYSIS REPORT
A detailed review of operations, performance and future outlook of the Company is given
separately, under head "Management Discussion and Analysis Report" & forms
part of this report.
DISCLOSURE REQUIREMENTS
Details of the Familiarization Programme of the independent directors are available on
the website of the Company (http://www.oclsteel.in/investors.php). Policy on dealing
related party transactions is available on the website of the Company
(http://www.oclsteel.in/investors.php).
The Company has formulated and published a Whistle Blower Policy to provide Vigil
Mechanism for employees including directors of the Company to report genuine concerns. The
provisions of this policy are in line with the provisions of the Section 177(9) of the Act
and as per SEBI (Listing Obligations & Disclosure Requirements), Regulations, 2015
(URLhttp://www.oclsteel.in/ investors.php)
COMMITTEES OF THE BOARD
The Company's Board has the following Committees:
1. Audit Committee
2. Nomination and Remuneration Committee
3. Stakeholders Relationship Committee
4. Corporate Social Responsibility Committee
The details of the membership and attendance at the meetings of the above Committees of
the board are provided in the Corporate Governance section of the annual report.
POLICY ON DIRECTOR'S APPOINTMENT AND REMUNERATION
Pursuant to Section 134(3) & 178(3) of the Companies Act 2013, the Nomination and
Remuneration Committee of the Board has framed a policy for selection and appointment of
Directors and senior management personnel, which inter alia includes the criteria for
determining qualifications, positive attributes and independence of a Director(s)/Key
managerial personnel and their remuneration. Details of the policy on appointment and
remuneration are available on the website of the Company (URL:
http://www.oclsteel.in/investors.php)
CORPORATE SOCIAL RESPONSIBILITY
A brief outline of the Corporate Social Responsibility Policy of the Company and the
initiatives undertaken by the Company on CSR activities during the year are set out in Annexure
VII of this report as per the format prescribed in the Companies (Corporate Social
Responsibility Policy) Rules, 2014. The composition of CSR committee and other related
details are provided in the Corporate Governance section, forming part of this Report. The
policy is available on the website of the Company. (URL:
http://www.oclsteel.in/investors.php)
AUDIT COMMITTEE
The Audit Committee was re-constituted by the Board of Directors. The Composition of
Audit Committee as on date is as follows:
| NAME OF MEMBERS |
DESISGNATION |
| Mr. Sanjay Tiku |
Chairman |
| Mr. Mahesh Chand Agrawal^ |
Member |
| Mr. Bhawani Prasad Mishra |
Member |
| Mr. Rambabu Singh Tomar^^ |
Member |
Further ^Mr. Mahesh Chand Agrawal Member of Audit Committee resigned from the committee
of the Company with effect from December 15, 2018.
Mr. Rambabu Singh Tomar appointed in Audit committee with effect from December 15,
2018.
The Company Secretary of the Company is the secretary of the Committee. The Board of
Directors has accepted all the recommendations of the Audit Committee.
VIGIL MECHANISM
The Company has in place a vigil mechanism in the form of Whistle Blower Policy. It
aims at providing avenues for employees to raise complaints and to receive feedback on any
action taken and seeks to reassure the employees that they will be protected against
victimization and for any whistle blowing conducted by them in good faith. The policy is
intended to encourage and enable the employees of the Company to raise serious concerns
within the organization rather than overlooking a problem or handling it externally.
The Company is committed to the highest possible standard of openness, probity and
accountability. It contains safeguards to protect any person who uses the Vigil Mechanism
by raising any concern in good faith. The Company protects the identity of the whistle
blower if the whistle blower so desires, however the whistle blower needs to attend any
disciplinary hearing or proceedings as may be required for investigation of the complaint.
The mechanism provides for a detailed complaint and investigation process.
If circumstances so require, the employee can make a complaint directly to the Chairman
of the Audit Committee. The Company also provides a platform to its employees for having
direct access to the Chairman of the Audit Committee in appropriate or exceptional cases.
The Company Secretary is the Compliance Officer of the Vigil Mechanism Committee. The
confidentiality of those reporting violations is maintained and they are not subjected to
any discriminatory practice.
RISK MANAGEMENT
The Company has developed and implemented a Risk Management Policy. The details of
elements of risk and mitigation measures are provided in the Management Discussion and
Analysis section of the Annual Report.
POLICY FOR PREVENTION, PROHIBITION AND REDRESSAL OF SEXUAL HARASSMENT OF WOMEN AT
WORKPLACE
The Company continues to follow a robust policy on 'Prevention, Prohibition and
Redressal of Sexual Harassment of Women at Workplace'. The Internal Committee was
constituted as per the requirements of The Sexual Harassment of Women at Workplace
(Prevention, Prohibition and Redressal) Act, 2013. During the financial year under review,
no case was reported. The Company continues to promote the cause of women colleagues,
all-women's forum for experience sharing, creating awareness on women's safety/ related
issues, celebrating important days dedicated to women and organizing workshops on gender
sensitivity.
PARTICULARS OF EMPLOYEES
(a) The ratio of remuneration of each director to the median of employees' remuneration
as per Section 197(12) of the Companies Act, 2013, read with Rule 5(1) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014 forms part of the
Board's report Annexure - VIII.
(b) The Particulars of employees as required in terms of the provisions of Section 197
read with Rules 5 (2)& (3) of the Companies (Appointment and Remuneration of
Managerial Personnel) rules, 2014 are also included in Annexure - VIII to this Report.
PUBLIC DEPOSITS
During the year under review, the Company has not accepted any deposits from public,
members or employees under the Companies Act, 2013 and as such, no amount of principal or
interest on public deposits was outstanding as on the date of balance sheet.
SIGNIFICANT AND MATERIAL ORDERS
No significant and material orders have been passed by any regulators or courts or
tribunals impacting the going concern status and Company's operations in future.
DEMATERIALISATION AND LISTING
The equity shares of the Company are admitted to the depository system of National
Securities Depository Limited (NSDL) and Central Depository Services (India) Limited
(CDSL). As on 31st March 2019, 130713502 Equity Shares representing 97.44% of
the Equity Share Capital of the Company are in dematerialized form. The Equity Shares of
the Company are compulsorily traded in dematerialized form as mandated by the Securities
and Exchange Board of India (SEBI). The International Securities Identification Number
(ISIN) allotted to the Company with respect to its Equity Shares is INE 196J01019.
The Equity Shares of the Company are listed on BSE Limited and National Stock Exchange
of India Limited and are actively traded.
LISTING AT SOCK EXCHANGE
The Equity Shares of Company are listed on BSE Limited and the National Stock Exchange
of India Limited and are actively traded. The Company has already paid the annual listing
fee to the concerned Stock Exchanges for the year 2019-20.
RECONCILIATION OF SHARE CAPITAL AUDIT
As per the directive of the Securities & Exchange Board of India, M/s S. Khurana
& Associates, Company Secretaries, New Delhi, undertook the Reconciliation of Share
Capital Audit on a quarterly basis. The purpose of the audit is to reconcile the total
number of shares held in National Securities Depository Limited (NSDL), Central Depository
Services (India) Limited (CDSL) and in physical form with respect to admitted, issued and
paid up capital of the Company.
The reconciliation of Share Capital Audit Report as submitted by M/s S. Khurana &
Associates, Company Secretaries, New Delhi, on quarterly basis was forwarded to the BSE
Limited and National Stock Exchange of India Limited where the Equity Shares of the
Company are listed.
INDUSTRIAL RELATIONS
During the year under review, the relations between the Management and the workmen were
highly cordial. Human resources initiatives such as skill up gradation, training,
appropriate reward & recognition systems and productivity improvement were the key
focus areas for development of the employees of the Company.
INVESTOR RELATIONS
Your Company always endeavours to promptly respond to members' requests/grievances.
Each and every issue raised by the members is taken up with utmost priority and every
effort is made to resolve the same at the earliest. The Stakeholders Relationship
Committee of the Board periodically reviews the status of the redressed of investors'
grievances.
ACKNOWLEDGEMENT
Your Directors wish to place on record the sincere and dedicated efforts of all the
employee of the Company. Your Directors also take this opportunity to offer their sincere
thanks to the Financial Institutions, Banks and other Government Agencies, valued
customers, investors and all the stakeholders for their continued support, co-operation
and assistance.
|
BY ORDER OF THE BOARD |
|
FOR OCL IRON AND STEEL LIMITED |
|
Sd/- |
| Place : New Delhi, India |
Sanjay Tiku |
| Dated : September 05, 2019 |
Chairman |
|
DIN:00300566 |