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BSE Code : | NSE Symbol : | ISIN:| SECTOR : |

NSE BSE
 

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Key Stats

MARKET CAP (RS CR) 616.99
P/E 80.58
BOOK VALUE (RS) 50.7208195
DIV (%) 250
MARKET LOT 1
EPS (TTM) 24.57
PRICE/BOOK 39.0342667866398
DIV YIELD.(%) 1.14
FACE VALUE (RS) 10
DELIVERABLES (%)
4

News & Announcements

31-May-2023

TAAL Enterprises consolidated net profit declines 7.76% in the March 2023 quarter

30-May-2023

Board of TAAL Enterprises accepts resignation of CFO

30-May-2023

Board of TAAL Enterprises appoints director

27-May-2023

TAAL Enterprises to declare Quarterly Result

30-May-2023

Board of TAAL Enterprises appoints director

27-May-2023

TAAL Enterprises to declare Quarterly Result

06-May-2023

TAAL Enterprises appoints Company Secretary and Compliance Officer

07-Feb-2023

TAAL Enterprises to announce Quarterly Result

Corporate Actions

Bonus
Splits
Dividends
Rights
Capital Structure
Book Closure
Board Meeting
AGM
EGM
 

Financials

Income Statement

Standalone
Consolidated
 

Peers Comparsion

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Global Vectra Helicorp Ltd 532773 GLOBALVECT
Interglobe Aviation Ltd 539448 INDIGO
Jagson Airlines Ltd 520139
Jet Airways (India) Ltd 532617 JETAIRWAYS
Kingfisher Airlines Ltd 532747 KFA
MFL India Ltd 526622
Skyline NEPC Ltd(wound-up) 500098 DAMANIAAIR
SpiceJet Ltd 500285 SPICEJET
VIF Airways Ltd 531868

Share Holding

Category No. of shares Percentage
Total Foreign 100701 3.23
Total Institutions 3285 0.11
Total Govt Holding 0 0.00
Total Non Promoter Corporate Holding 139706 4.48
Total Promoters 1592460 51.10
Total Public & others 1280190 41.08
Total 3116342 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About TAAL Enterprises Ltd

TAAL Enterprises Limited (TEL) was earlier a wholly owned subsidiary of Taneja Aerospace and Aviation Limited (TAAL). The Company was incorporated on 01 July 2014. The Company is holding Non Scheduled Operators Permit (NSOP) and is engaged in Aircraft Charter Service business. The Company presently operates one Cessna Citation CJ2+ type of aircraft with a seating capacity of seven passengers. The aircraft is based at Pune airport and the Company has a loyal set of Charter customers centered around Maharashtra. The aircraft is maintained at the MRO facility of TAAL at Hosur in Tamil Nadu. In terms of the Scheme of Arrangement under Section 391 to 394 of the Companies Act, 1956 between Taneja Aerospace and Aviation Limited (TAAL) and TAAL Enterprises Limited (the Company), TAAL has demerged its Air Charter Business including investment in First Airways Inc., USA and Engineering Design Services Business conducted through TAAL Tech India Private Limited into the Company. Pursuant to the Scheme as sanctioned by the Hon'ble High Court of Madras vide Order dated June 22, 2015, received on July 23, 2015, the Air Charter Business of TAAL including investment in First Airways Inc., USA and Engineering Design Services Business conducted through TAAL Tech India Private Limited has been demerged into the Company on a going concern basis with effect from October 1, 2014 being the Appointed Date. The Certified Copy of the said Order of the Hon'ble High Court of Madras has been filed with the Registrar of Companies, Chennai on August 21, 2015 and as such the Scheme has become effective from that date. As per Clause 9.2 of the Scheme of Arrangement as approved / sanctioned by the Hon'ble Madras High Court, Taneja Aerospace and Aviation Limited (TAAL) will carry on the business and activities relating to the demerged charter business for and on account of and in trust for TAAL Enterprises Limited (TEL) until the time TEL obtains the requisite statutory licences required for carrying on the demerged charter business. The said licences are yet to be obtained and accordingly the demerged charter business has continued to be operated by TAAL in trust for and on behalf of TEL including banking transactions, statutory compliances and all other commercial activities. Accordingly, the accounting entries pertaining to the demerged charter business are accounted in the books of account of TEL.

TAAL Enterprises Ltd Chairman Speech

TAAL Enterprises Ltd Company History

TAAL Enterprises Limited (TEL) was earlier a wholly owned subsidiary of Taneja Aerospace and Aviation Limited (TAAL). The Company was incorporated on 01 July 2014. The Company is holding Non Scheduled Operators Permit (NSOP) and is engaged in Aircraft Charter Service business. The Company presently operates one Cessna Citation CJ2+ type of aircraft with a seating capacity of seven passengers. The aircraft is based at Pune airport and the Company has a loyal set of Charter customers centered around Maharashtra. The aircraft is maintained at the MRO facility of TAAL at Hosur in Tamil Nadu. In terms of the Scheme of Arrangement under Section 391 to 394 of the Companies Act, 1956 between Taneja Aerospace and Aviation Limited (TAAL) and TAAL Enterprises Limited (the Company), TAAL has demerged its Air Charter Business including investment in First Airways Inc., USA and Engineering Design Services Business conducted through TAAL Tech India Private Limited into the Company. Pursuant to the Scheme as sanctioned by the Hon'ble High Court of Madras vide Order dated June 22, 2015, received on July 23, 2015, the Air Charter Business of TAAL including investment in First Airways Inc., USA and Engineering Design Services Business conducted through TAAL Tech India Private Limited has been demerged into the Company on a going concern basis with effect from October 1, 2014 being the Appointed Date. The Certified Copy of the said Order of the Hon'ble High Court of Madras has been filed with the Registrar of Companies, Chennai on August 21, 2015 and as such the Scheme has become effective from that date. As per Clause 9.2 of the Scheme of Arrangement as approved / sanctioned by the Hon'ble Madras High Court, Taneja Aerospace and Aviation Limited (TAAL) will carry on the business and activities relating to the demerged charter business for and on account of and in trust for TAAL Enterprises Limited (TEL) until the time TEL obtains the requisite statutory licences required for carrying on the demerged charter business. The said licences are yet to be obtained and accordingly the demerged charter business has continued to be operated by TAAL in trust for and on behalf of TEL including banking transactions, statutory compliances and all other commercial activities. Accordingly, the accounting entries pertaining to the demerged charter business are accounted in the books of account of TEL.

TAAL Enterprises Ltd Directors Reports

To, The Members, TAAL Enterprises Limited

Your Directors' present herewith the Eighth Annual Report along with Audited Financial Statements of the Company for the financial year ended March 31, 2022.

FINANCIAL HIGHLIGHTS

(Rs. in Lakhs)

Particulars

Standalone

Financial Year

2021-22 2020-21
Total Income 904.46 1117.49
Expenditure 46.34 79.36
Profit/(Loss) after Tax 800.07 964.41

OPERATIONS

During the year under review, the Total Income of the Company was Rs. 904.46 Lakhs as compared to Rs. 1,117.49 Lakhs during the previous year. The Profit after tax for the year was Rs. 800.07 Lakhs as compared to Rs. 964.41 Lakhs during the previous year. During the year under review, the Company did not operate the aircraft due to its accident/scarping and currently is exploring various other options.

TRANSFER TO RESERVES

During the year, the Company has not transferred any amount to General Reserves.

DIVIDEND

The Board of Directors of the Company had declared an interim dividend of Rs. 25/- (Rs. Twenty Five only) on each fully paid 31,16,342 equity shares of Rs. 10/- each (250% per share) amounting to Rs. 7,79,08,550/- during the Financial Year 2021-22. The dividend was paid to those members of the Company whose names appeared in the Register of Members of the Company as on August 12, 2021. The Interim Dividend declared during the year shall be considered as the Final Dividend for the financial year 2021-22 and the confirmation of the members is being sought.

DIRECTORS AND KEY MANAGERIAL PERSONNEL

In accordance with the provisions of the Companies Act,2013 (‘Act') and the Articles of Association of the Company, Mr. Salil Taneja retires by rotation and being eligible, offers himself for re-appointment. Mr. Salil Taneja was re-appointed as Whole Time Director of the Company for a period of 3(three) years from October 01, 2022 to September 30, 2025. Mr. Shyam Powar, Independent Director of the Company, holds office upto the conclusion of the ensuing Annual General Meeting (AGM) Mr. Sourabh Sonawane resigned from the position of Company Secretary and Compliance Officer with effect from April 20, 2021. Mr. Himanshu Choradiya was appointed as Company Secretary and Compliance Officer of the Company w.e.f. October 18, 2021 pursuant to Section 203 of the Act & SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations'). The Independent Directors of the Company had given a declaration pursuant to Section 149(7) of the Act. The annual performance evaluation has been done by the Board of its own performance and that of its committees and individual Directors based on the criteria for evaluation of performance of independent directors and the Board of Directors and its Committees as approved by the Nomination and Remuneration Committee which the Board found to be satisfactory. The Board is of the opinion that the Independent Directors of the Company possess adequate proficiency, experience, expertise and integrity to best serve the interest of the Company. The brief resume of the Directors proposed to be appointed/ re-appointed is given in the notice convening the AGM. The Composition of Board of Directors of the Company and attendance at the Board meetings is as follows:

Name of the Director Category No. of Board Meetings attended during
F.Y 2021-22
Mr. Salil Taneja Whole Time Director 5
Mr Arvind Nanda_| Independent Director 5
Mr. Shyam Powar | Independent Director 1
Mrs. Rahael Shobhana Joseph Non-Executive Director 5

The details of Key Managerial Personnel as on March 31, 2022 are as below:

Sr. Name Designation
No.
1 Mr. Salil Taneja Whole-Time Director
2 Mr. Jitendra Muthiyan Chief Financial Officer
3 Mr.Himanshu Company Secretary and
Choradiya Compliance Officer

SUBSIDIARIES, ASSOCIATE AND JOINT VENTURE COMPANIES

As on date of this report, the Company has five direct and indirect subsidiaries. In accordance with Section 129(3) of the Act, a statement containing salient features on performance and _ financial position of the subsidiaries in Form AOC-1 is provided in the Financial Statements forming part of this Annual Report.

The Company has framed a Policy for determining Material Subsidiaries which is available on its website www.taalent.co.in TAAL Tech India Private Limited (TTIPL) is the largest operating subsidiary of the Company. During the period under review, TTIPL has completed buyback of 50,000 equity shares from its erstwhile CEO. As a result, the shareholding of the Company in TTIPL stands increased to 94.44% from 89.47% due to reduction of share capital of TTIPL.

PUBLIC DEPOSITS

Your Company has not accepted any deposits from the public falling within the purview of Section 73 of the Companies Act, 2013 read with the Companies (Acceptance of Deposits) Rules, 2014.

MANAGEMENT DISCUSSION & ANALYSIS

Pursuant to the SEBI (LODR) Regulations, 2015 a separate section on Management Discussion & Analysis is forming part of this Report.

CORPORATE GOVERNANCE REPORT

Pursuant to Regulation 15(2) of the SEBI (Listing Obligations Disclosure Requirements) Regulations, 2015, the provisions relating to Corporate Governance Report are not applicable to the Company.

CORPORATE SOCIAL RESPONSIBILITY

The Company has duly complied with the Section 135 of the Act and the applicable rules thereunder. Annual Report on CSR Activities for the Financial Year ended March 31,2022 forms the part of this Report as ‘Annexure A'

BOARD MEETINGS

During the year under review 5 Board Meetings were held as under:

Sr. No. | Date of Meeting
1 June 11, 2021
2 August 12, 2021
3 October 18, 2021
4 November 11, 2021
5 February 14, 2022

The intervening gap between the Meetings was within the period prescribed under the Companies Act, 2013 / SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

AUDIT COMMITTEE AND VIGIL MECHANISM

The present composition of Audit Committee is as follows:

Name of Director Chairman/ Member
Mr. Shyam Powar Chairman
Mrs. Rahael Shobhana Joseph Member
Mr. Arvind Nanda Member

The Whistle Blower Policy/ Vigil Mechanism of the Company as established by the Board is available on its website www. taalent.co.in

DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to Section 134(3)(c) read with Section 134(5) of the Act, your Directors make the following statement:

i. that in preparation of annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures:

i, thatthe Directors have selected such accounting policies & applied them consistently & made judgments & estimates, that are reasonable & prudent so as to give a true and fair view of the state of affairs of the Company at end of the financial year March 31, 2021 and of the profit of the Company for that period;

ili, that 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 & other irregularities;

iv. that the Directors have prepared the annual accounts on a going concern basis;

v. that the directors have laid down Internal financial Controls to be followed by the Company and that such internal financial controls are adequate and were operating effectively; and

vi. that the directors have devised proper systems to ensure compliance with provisions of all applicable laws & that such systems were adequate & operating effectively.

ANNUAL RETURN

As per Section 134(3)(a) of the Companies Act, 2013, the Annual Return referred to in Section 92(3) has been placed on the website of the Company at www.taalent.co.in

CONSERVATION OF ENERGY, TECHNOLOGY, ABSORPTION & FOREIGN EXCHANGE EARNINGS & OUTGO

The particulars as required under Section 134(3)(m) of the Act is forming part of this Report as Annexure ‘B'.

NOMINATION AND REMUNERATION POLICY

The Nomination and Remuneration Policy of the Company on Director's appointment and remuneration including criteria for determining qualifications, positive attributes, independence of a director and the criteria for performance evaluation as laid down by Nomination and Remuneration Committee has been defined in the Nomination and Remuneration Policy. The said policy is available on its website at www.taalent.co.in Details pertaining to Section 197(12) of the Act read with rules framed their under forms part of this report as Annexure ‘C'. Astatement showing details of employees in terms of Rule 5(2) and (3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 forms part of this Report.

However, in terms of Section 136 of the Act, the Annual Report excluding the aforesaid information is being sent to the members and others entitled there to. The said statement is available for inspection by the Members at the Registered Office of the Company during business hours on working days up to the date of the ensuing AGM. If any Member is interested in obtaining a copy thereof, such Member may write to the Company at secretarial@taalent.co.in

AUDITORS STATUTORY AUDITORS

Pursuant to Section 139 of the Companies the Act, 2013 (the ‘Act') and the Rules framed there under, the Shareholders of the Company at the 6th Annual General Meeting (AGM) held on September 30, 2020, approved the appointment of M/s. V P Thacker & Co., Chartered Accountants, (Firm Registration No. 118696VW) as the Statutory Auditors of the Company to hold office for a period of 5 (five) consecutive years till the conclusion of 11th AGM of the Company.

SECRETARIAL AUDITOR

Pursuant to Section 204 of the Act and the Rules made thereunder, the Board of Directors had appointed Giriraj A. Mohta, Practicing Company Secretary for conducting the Secretarial Audit of the Company for the financial year 2021- 22. The Report of the Secretarial Audit in Form MR - 3 is annexed herewith as an Annexure ‘D' to this Report. There are no qualifications, reservations or adverse remarks made by the Secretarial Auditors in their audit report for the year ended March 31, 2022.

PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS

Particulars of Loans, Guarantees & Investments covered under Section 186 of the Act has been given in Notes to Financial Statements forming part of this Annual Report.

RISK MANAGEMENT

The Company has a robust risk management framework to identify and mitigate risks arising out of internal as well as external factors.

INTERNAL FINANCIAL CONTROLS

The Company has an internal financial control framework which is commensurate with the size, scale and complexity of its operations. The Statutory Auditors of the Company reviewed the same on periodical basis.

CONTRACTS AND ARRANGEMENTS WITH RELATED PARTIES

During the year under review, the Company has not entered into any contract/ arrangement transaction with related parties which were either not at an arm's length or not in the ordinary course of business & further could be considered material in accordance with the policy of the Company on materiality of related party transactions.

Hence, there is no information to be provided in Form AOC-2 while particulars of Related Party Transactions in terms of Ind AS-24 are forming part of the enclosed financial statements. GENERAL

No significantor material orders were passed by the Regulators or Courts or Tribunals which impact the going concern status and Company's operations in future. There is no change in the nature of business of the Company. There was no change in the authorized as well as paid up share capital of the Company during the year under review. There have been no material changes and commitment, if any affecting the financial position of the company which have occurred between the end of the financial year of the Company to which the financial report relates and the date of the report. The provisions relating to the constitution of Internal Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 is not applicable to the Company. During the year under review, there were no cases filed pursuant to the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. The Company has complied with applicable Secretarial standards. Maintenance of Cost records under Section 148(1) of the Companies Act, 2013 is not applicable to the Company.

REGISTRAR AND SHARE TRANSFER AGENT

Shareholders may contact Registrar and Share Transfer Agent of the Company at the following address: Link Intime India Private Limited Block No. 202, 2nd Floor, Akshay Complex, Near Ganesh Temple, Off Dhole Patil Road, Pune 411001. Tel.: 020-26160084 Fax: 020- 26163503 E-mail: pune@linkintime.co.in

ACKNOWLEDGEMENTS

The Directors take this opportunity to thank their Customers, Bankers, Vendors, Aviation authorities, Government and regulatory authorities and all other stakeholders for their valuable sustained support. The Directors also express their deep appreciation to all the employees' for their hard work, dedication and Commitment.

For and on behalf of Board of Directors
Date : May 30,2022 Salil Taneja
Place: Pune Chairman

   

TAAL Enterprises Ltd Company Background

Salil Taneja
Incorporation Year2014
Registered Office2nd Floor MMPDA Tower,184 Royapettah High Court
Chennai,Tamil Nadu-600014
Telephone91-44-42926200,Managing Director
Fax91-44-42926299
Company Secretary
AuditorV P Thacker & Co
Face Value10
Market Lot1
ListingBSE,
RegistrarLink Intime India Pvt Ltd
BNo 202 Akshay Compl,Off Dhole Patil Road,Near Ganesh Mandir ,Pune-411001

TAAL Enterprises Ltd Company Management

Director NameDirector DesignationYear
Salil TanejaChairman & Wholetime Director2022
Arvind NandaIndependent Director2022
Shyam PowarIndependent Director2022
Himanshu ChoradiyaCompany Sec. & Compli. Officer2022

TAAL Enterprises Ltd Listing Information

Listing Information
BSESMALLCA
BSEALLCAP

TAAL Enterprises Ltd Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Charter RevenueNA0007.82403
Sale of servicesNA0000

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