General information about company | |
| Name of The Company | HINDUSTAN COMPOSITES LIMITED |
| BSE Scrip Code | 509635 |
| NSE Symbol | HINDCOMPOS |
| MSE Symbol | NOTLISTED |
| Date of Start of Financial Year | 01-04-2023 |
| Date of End of Financial Year | 31-03-2024 |
| Reporting Period | Second half yearly |
| Date of Start of Reporting Period | 01-10-2023 |
| Date of End of Reporting Period | 31-03-2024 |
| Level of rounding to be used in disclosing related party transactions | Lakhs |
| Whether the company has any related party? | Yes |
| Whether the company has entered into any Related Party transaction during the selected half year for which it wants to submit disclosure? | Yes |
| (I) We declare that the acceptance of fixed deposits by the bans/Non-Banking Finance Company are at the terms uniformly applicable/offered to all shareholders/public | NA | ||
| (II) We declare that the scheduled commercial bank, as per RBI circular RBI/DBR/2015-16/19 dated March 03, 2016, has allowed additional interest of one per cent per annum, over and above the rate of interest mentioned in the schedule of interest rates on savings or a term deposits of bank’s staff and their exclusive associations as well as on deposits of Chairman, Chairman & Managing Director, Executive Director or such other Executives appointed for a fixed tenure. | NA | ||
| (III) Whether the company is a ‘high value debt listed entity’ according to regulation 15 (1A)? | No | ||
| (a) If answer to above question is Yes, whether complying with proviso to regulation 23 (9), i.e., submitting RPT disclosures on the day of results publication? | |||
| (b) If answer to above question is No, please explain the reason for not complying. | |||
Related party transactions | ||||||||||||||||||||||
| Additional disclosure of related party transactions - applicable only in case the related party transaction relates to loans, inter-corporate deposits, advances or investments made or given by the listed entity/subsidiary. These details need to be disclosed only once, during the reporting period when such transaction was undertaken. | ||||||||||||||||||||||
| Sr No. | Details of the party (listed entity /subsidiary) entering into the transaction | Details of the counterparty | Type of related party transaction | Details of other related party transaction | Value of the related party transaction as approved by the audit committee | Remarks on approval by audit committee | Value of transaction during the reporting period | In case monies are due to either party as a result of the transaction | In case any financial indebtedness is incurred to make or give loans, inter-corporate deposits, advances or investments | Details of the loans, inter-corporate deposits, advances or investments | Notes | |||||||||||
| Name | PAN | Name | PAN | Relationship of the counterparty with the listed entity or its subsidiary | Opening balance | Closing balance | Nature of indebtedness (loan/ issuance of debt/ any other etc.) | Details of other indebtedness | Cost | Tenure | Nature (loan/ advance/ intercorporate deposit/ investment ) | Interest Rate (%) | Tenure | Secured/ unsecured | Purpose for which the funds will be utilised by the ultimate recipient of funds (endusage) | |||||||
| 1 | Hindustan Composites Limited | Compo Advics (India) Pvt. Ltd. | Joint venture | Any other transaction | Royalty Received | As approved by the Board 1% of Net Sales | 4.13067 | 0 | 0 | Textual Information(1) | ||||||||||||
| 2 | Hindustan Composites Limited | Compo Advics (India) Pvt. Ltd. | Joint venture | Purchase of goods or services | 500 | As approved by Board, Rs. 500.00 Lakh p.a. (for a period of 12 years) | 1.674523 | 173.85 | 180.94 | Textual Information(2) | ||||||||||||
| 3 | Hindustan Composites Limited | Compo Advics (India) Pvt. Ltd. | Joint venture | Sale of goods or services | 500 | As approved by Board, Rs. 500.00 Lakh p.a. (for a period of 12 years) | 25.4112 | 0 | 0 | Textual Information(3) | ||||||||||||
| 4 | Hindustan Composites Limited | Compo Advics (India) Pvt. Ltd. | Joint venture | Any other transaction | Coupon reimbursement | As approved by board of Directors | 10.50117 | 0 | 0 | Textual Information(4) | ||||||||||||
| 5 | Hindustan Composites Limited | Mr. Ashok B Vadiya | Non Executive Independent Director | Any other transaction | Sitting fees | As approved by Nomination and Remuneration Committee , Board & share holders | 1 | 0 | 0 | Textual Information(5) | ||||||||||||
| 6 | Hindustan Composites Limited | Mr. Deepak Sethi | Non Executive Independent Director | Any other transaction | Sitting fees and commission | As approved by Nomination and Remuneration Committee , Board & share holders | 2.7 | 0 | 1.9 | Textual Information(6) | ||||||||||||
| 7 | Hindustan Composites Limited | Mr. K. S. Brar | Non Executive Independent Director | Any other transaction | Sitting fees | As approved by Nomination and Remuneration Committee , Board & share holders | 1 | 0 | 0 | Textual Information(7) | ||||||||||||
| 8 | Hindustan Composites Limited | Mr. Lalit Kumar Bararia | Non Executive Independent Director | Any other transaction | Sitting fees and commission | As approved by Nomination and Remuneration Committee , Board & share holders | 2.5 | 0 | 1.9 | Textual Information(8) | ||||||||||||
| 9 | Hindustan Composites Limited | Mr. Raghu Mody | Non-Executive Director & Chairman (Deceased on 08.02.2024) | Any other transaction | Sitting fees | As approved by Nomination and Remuneration Committee , Board & share holders | 0.1 | 0 | 0 | Textual Information(9) | ||||||||||||
| 10 | Hindustan Composites Limited | Mrs. Preeti Vimal Agarwal | Non Executive Independent Director | Any other transaction | Sitting fees and commission | As approved by Nomination and Remuneration Committee , Board & share holders | 2.5 | 0 | 1.9 | Textual Information(10) | ||||||||||||
| 11 | Hindustan Composites Limited | Mr. Vinay Sarin | Non-Executive - Non Independent Director | Any other transaction | Sitting fees | As approved by Nomination and Remuneration Committee & Board of Directors | 0.4 | 0 | 0 | Textual Information(11) | ||||||||||||
| 12 | Hindustan Composites Limited | Mr. P.K. Choudhary | Key Management Personnel / Managing Director | Remuneration | 104 | Salaries and other employee benefits- Rs. 104.00 Lakh + Perquisites | 55.795645 | 0 | 0 | Textual Information(12) | ||||||||||||
| 13 | Hindustan Composites Limited | Mr. Sunil Jindal | Key Management Personnel - Chief Financial Officer | Remuneration | 35 | Salaries and other employee benefits- Rs. 35.00 Lakh + Perquisites | 15.65448 | 0 | 0 | Textual Information(13) | ||||||||||||
| 14 | Hindustan Composites Limited | Mrs. Shashi Mody | Promoter / Promoter Group - Relative of Director - Daughter-in-law of Late Mr. Raghu Mody, Chairman & Non-Executive Director and Significant Beneficial Owner having Significant Influence | Remuneration | 17.6 | Salaries and other employee benefits- Rs. 17.60 Lakh + Perquisites | 15.163325 | 0 | 0 | Textual Information(14) | ||||||||||||
| 15 | Hindustan Composites Limited | Mr. Ravi Vaishnav | Key Management Personnel - Company Secretary and Compliance Officer | Remuneration | 22 | Salaries and other employee benefits- Rs. 22.00 Lakh | 10.9971 | 0 | 0 | Textual Information(15) | ||||||||||||
| 16 | Hindustan Composites Limited | Mr. Varunn Mody | Promoter/promoter group | Remuneration | 96 | Salaries and other employee benefits- Rs. 96.00 Lakh + Perquisites | 50.27102 | 0 | 0 | Textual Information(16) | ||||||||||||
| 17 | Hindustan Composites Limited | Mr. Varunn Mody | Promoter/promoter group | Any other transaction | Rent Deposit | As per Rent Agreement | 0 | 6.6 | 6.6 | Textual Information(17) | ||||||||||||
| 18 | Hindustan Composites Limited | Mr. Varunn Mody | Promoter/promoter group | Any other transaction | Rent Paid | 25.2 | Rent Paid - approved by the Audit Committee Rs. 25.20 Lakh p.a. | 14.1 | 0 | 0 | Textual Information(18) | |||||||||||
| 19 | Hindustan Composites Limited | J L Morison (India) Ltd. | Promoter/promoter group | Any other transaction | Rent Paid | 15.97 | Rs. 15.97 Lakh p.a. was approved by Audit Committee for a period of 1 year | 7.984 | 0 | 0 | Textual Information(19) | |||||||||||
| 20 | Hindustan Composites Limited | Pallawi Resources Private Limited | Promoter/promoter group | Any other transaction | Rent Paid | 3.96 | Rent Paid - approved by the Audit Committee Rs. 3.96 Lakh p.a. + applicable rates of GST (for a period of 5 years) | 2.3336 | 0 | 0 | Textual Information(20) | |||||||||||
| 21 | Hindustan Composites Limited | Rasoi Express Pvt. Ltd. | Promoter/promoter group | Purchase of goods or services | 200 | Purchase of Air Tickets upto Rs. 200.00 lakh p.a. (plus applicable rate of GST) (for a period of 10 years) | 18.23791 | 0 | 0 | Textual Information(21) | ||||||||||||
| 22 | Hindustan Composites Limited | Mode Enterprises LLP | Promoter/promoter group | Purchase of goods or services | 30 | As approved by Audit Committee & Board for Rs. 30.00 Lakh p.a. (for a period of 3 years) | 12.25 | 0 | 0 | Textual Information(22) | ||||||||||||
| 23 | Hindustan Composites Limited | Mrs. Sakshi Mody | Promoter/promoter group | Any other transaction | Professional Fees | 18 | As approved by Audit Committee & Board of Directors for Rs.18.00 Lakh p.a. (for a period of 3 years) | 9 | 0 | 0 | Textual Information(23) | |||||||||||
| 24 | Hindustan Composites Limited | Leaders Healthcare Limited | Promoter/promoter group | Inter-corporate deposit | 500 | Inter Corporate Deposits received back | 100 | 100 | 0 | Textual Information(24) | ||||||||||||
| 25 | Hindustan Composites Limited | Leaders Healthcare Limited | Promoter/promoter group | Interest received | Interest on ICD @ 9% p.a. | 0.72342 | 3.46 | 0 | Textual Information(25) | |||||||||||||
| Total value of transaction during the reporting period | 364.428063 | |||||||||||||||||||||
Text Block | ||
| Textual Information(1) | 1) Value of the related party transaction of Rs. 4.13 Lakhs represents royalty received and was approved by the board - 1% of Net Sales. 2) Related Party Transactions that are required to be approved by any other Committee/Board of Directors are routed through such other Committee/Board of Directors. 3) All related party transactions entered during the half year were in ordinary course of the business. 4) No amounts in respect of related parties have been written off / written back, nor has any provision been made for doubtful debts / receivables during the half year. | |
| Textual Information(2) | 1) Purchase of goods and services represents Purchase of Raw Material of Rs. 1.67 Lakh (including GST); Value of the related party transaction was approved by the Board upto Rs. 500.00 Lakh p.a. (for a period of 12 months). 2) Related Party Transactions that are required to be approved by any other Committee/Board of Directors are routed through such other Committee/Board of Directors. 3) Amount is inclusive of GST. 4) All related party transactions entered during the half year were in ordinary course of the business. 5) No amounts in respect of related parties have been written off / written back, nor has any provision been made for doubtful debts / receivables during the half year. | |
| Textual Information(3) | 1) Sale of goods and services represents Sale of Raw Material of Rs. 25.41 Lakh (including GST); Value of the related party transaction was approved by the Board upto Rs. 500.00 Lakh p.a. (for a period of 12 months). 2) Related Party Transactions that are required to be approved by any other Committee/Board of Directors are routed through such other Committee/Board of Directors. 3) Amount is inclusive of GST. 4) All related party transactions entered during the half year were in ordinary course of the business. 5) No amounts in respect of related parties have been written off / written back, nor has any provision been made for doubtful debts / receivables during the half year. | |
| Textual Information(4) | 1) Reimbursement Coupon of Rs. 10.50 Lakh (including GST). 2) Related Party Transactions that are required to be approved by any other Committee/Board of Directors are routed through such other Committee/Board of Directors. 3) Amount is inclusive of GST. 4) All related party transactions entered during the half year were in ordinary course of the business. 5) No amounts in respect of related parties have been written off / written back, nor has any provision been made for doubtful debts / receivables during the half year. | |
| Textual Information(5) | 1) Mr. Ashok B. Vaidya (DIN- 00246208) ceased to be the Independent Directors of the Company w.e.f. the close of business hours on 31st March, 2024, consequent to completion of their 2nd term of appointment as Independent Directors. 2) Amount of Rs. 1.00 Lakh represents sitting fees; Value of the related party transaction as approved by the Nomination and Remuneration Committee / board / shareholders. 3) Related Party Transactions that are required to be approved by any other Committee/Board of Directors are routed through such other Committee/Board of Directors. 4) All related party transactions entered during the half year were in ordinary course of the business. 5) No amounts in respect of related parties have been written off / written back, nor has any provision been made for doubtful debts / receivables during the half year. | |
| Textual Information(6) | 1) Amount of Rs. 2.70 Lakhs represents sitting fees / Commission; Value of the related party transaction as approved by the Nomination and Remuneration Committee / board / shareholders. 2) Amount of Rs. 1.90 Lakhs represents Commission payable; Value of the related party transaction as approved by the Nomination and Remuneration Committee / board / shareholders. 3) Related Party Transactions that are required to be approved by any other Committee/Board of Directors are routed through such other Committee/Board of Directors. 4) All related party transactions entered during the half year were in ordinary course of the business. 5) No amounts in respect of related parties have been written off / written back, nor has any provision been made for doubtful debts / receivables during the half year. | |
| Textual Information(7) | 1) Lt. Gen. (Retd.) K. S. Brar (DIN- 01146720) ceased to be the Independent Directors of the Company w.e.f. the close of business hours on 31st March, 2024, consequent to completion of their 2nd term of appointment as Independent Directors. 2) Amount of Rs. 1.00 Lakh represents sitting fees; Value of the related party transaction as approved by the Nomination and Remuneration Committee / board / shareholders. 3) Related Party Transactions that are required to be approved by any other Committee/Board of Directors are routed through such other Committee/Board of Directors. 4) All related party transactions entered during the half year were in ordinary course of the business. 5) No amounts in respect of related parties have been written off / written back, nor has any provision been made for doubtful debts / receivables during the half year. | |
| Textual Information(8) | 1) Amount of Rs. 2.50 Lakhs represents sitting fees / Commission; Value of the related party transaction as approved by the Nomination and Remuneration Committee / board / shareholders. 2) Amount of Rs. 1.90 Lakhs represents Commission payable; Value of the related party transaction as approved by the Nomination and Remuneration Committee / board / shareholders. 3) Related Party Transactions that are required to be approved by any other Committee/Board of Directors are routed through such other Committee/Board of Directors. 4) All related party transactions entered during the half year were in ordinary course of the business. 5) No amounts in respect of related parties have been written off / written back, nor has any provision been made for doubtful debts / receivables during the half year. | |
| Textual Information(9) | 1) Mr. Raghu Mody ceased to be Chiarman and Non Executive Director of the Comapny upon his sad demise on 8th February, 2024. 1) Amount of Rs. 0.10 Lakh represents sitting fees; Value of the related party transaction as approved by the Nomination and Remuneration Committee / board / shareholders. 2) Related Party Transactions that are required to be approved by any other Committee/Board of Directors are routed through such other Committee/Board of Directors. 3) All related party transactions entered during the half year were in ordinary course of the business. 4) No amounts in respect of related parties have been written off / written back, nor has any provision been made for doubtful debts / receivables during the half year. | |
| Textual Information(10) | 1) Amount of Rs. 2.50 Lakhs represents sitting fees / Commission; Value of the related party transaction as approved by the Nomination and Remuneration Committee / board / shareholders. 2) Amount of Rs. 1.90 Lakhs represents Commission payable; Value of the related party transaction as approved by the Nomination and Remuneration Committee / board / shareholders. 3) Related Party Transactions that are required to be approved by any other Committee/Board of Directors are routed through such other Committee/Board of Directors. 4) All related party transactions entered during the half year were in ordinary course of the business. 5) No amounts in respect of related parties have been written off / written back, nor has any provision been made for doubtful debts / receivables during the half year. | |
| Textual Information(11) | 1) Amount of Rs. 0.40 Lakh represents sitting fees; Value of the related party transaction as approved by the Nomination and Remuneration Committee / board / shareholders. 2) Related Party Transactions that are required to be approved by any other Committee/Board of Directors are routed through such other Committee/Board of Directors. 3) All related party transactions entered during the half year were in ordinary course of the business. 4) No amounts in respect of related parties have been written off / written back, nor has any provision been made for doubtful debts / receivables during the half year. | |
| Textual Information(12) | 1) Value of the related party transaction as approved by the Audit Committee was Rs. 104.00 Lakh plus Perquisites represents Salaries and other employee benefits. 2) Related Party Transactions that are required to be approved by any other Committee/Board of Directors are routed through such other Committee/Board of Directors. 3) All related party transactions entered during the half year were in ordinary course of the business. 4) No amounts in respect of related parties have been written off / written back, nor has any provision been made for doubtful debts / receivables during the half year. | |
| Textual Information(13) | 1) Value of the Related Party Transaction as approved by the Audit Committee was Rs. 35.00 Lakh represents Salaries and other employee benefits. 2) Related Party Transactions that are required to be approved by any other Committee/Board of Directors are routed through such other Committee/Board of Directors. 3) All related party transactions entered during the half year were in ordinary course of the business. 4) No amounts in respect of related parties have been written off / written back, nor has any provision been made for doubtful debts / receivables during the half year. | |
| Textual Information(14) | 1) Mrs. Shashi Mody is a Significant Beneficial Owner having Significant Influence in the company and daughter in law of Mr. Raghu Mody who ceased to be Chairman and Non Executive Director of the Comapny upon his sad demise on 8th February, 2024. 2) Value of the Related Party Transaction as approved by the Audit Committee was Rs. 17.60 Lakh plus Perquisites represents Salaries and other employee benefits. 3) Related Party Transactions that are required to be approved by any other Committee/Board of Directors are routed through such other Committee/Board of Directors. 4) All related party transactions entered during the half year were in ordinary course of the business. 5) No amounts in respect of related parties have been written off / written back, nor has any provision been made for doubtful debts / receivables during the half year. | |
| Textual Information(15) | 1) Value of the Related Party Transaction as approved by the Audit Committee was Rs. 22.00 Lakh represents Salaries and other employee benefits. Mr. Ravi Vaishnav resigned and ceased to be Company Secretary and Compliacne Officer with effect from closing of bussiness hours of 5th April, 2024. 2) Related Party Transactions that are required to be approved by any other Committee/Board of Directors are routed through such other Committee/Board of Directors. 3) All related party transactions entered during the half year were in ordinary course of the business. 4) No amounts in respect of related parties have been written off / written back, nor has any provision been made for doubtful debts / receivables during the half year. | |
| Textual Information(16) | 1) Value of the Related Party Transaction as approved by the Audit Committee was Rs. 96.00 Lakh plus Perquisites represents Salaries and other employee benefits. 2) Related Party Transactions that are required to be approved by any other Committee/Board of Directors are routed through such other Committee/Board of Directors. 3) All related party transactions entered during the half year were in ordinary course of the business. 4) No amounts in respect of related parties have been written off / written back, nor has any provision been made for doubtful debts / receivables during the half year. | |
| Textual Information(17) | 1) Value of Rs. 6.60 Lakh represents rent deposit as per Rent Agreement. 2) Related Party Transactions that are required to be approved by any other Committee/Board of Directors are routed through such other Committee/Board of Directors. 3) All related party transactions entered during the half year were in ordinary course of the business. 4) No amounts in respect of related parties have been written off / written back, nor has any provision been made for doubtful debts / receivables during the half year. | |
| Textual Information(18) | 1) Amount of Rs. 14.10 Lakh represents rent paid; Value of the related party transaction as approved by the Audit Committee was Rs. 25.20 Lakh p.a. 2) Related Party Transactions that are required to be approved by any other Committee/Board of Directors are routed through such other Committee/Board of Directors. 3) All related party transactions entered during the half year were in ordinary course of the business. 4) No amounts in respect of related parties have been written off / written back, nor has any provision been made for doubtful debts / receivables during the half year. | |
| Textual Information(19) | 1) Rs. 7.98 Lakh represents rent paid; Value of the related party transaction as approved by the Audit Committee was Rs. 15.97 Lakh p.a. 2) Related Party Transactions that are required to be approved by any other Committee/Board of Directors are routed through such other Committee/Board of Directors. 3) All related party transactions entered during the half year were in ordinary course of the business. 4) No amounts in respect of related parties have been written off / written back, nor has any provision been made for doubtful debts / receivables during the half year. | |
| Textual Information(20) | 1) Amount of Rs. 2.33 Lakh represent Rent Paid including GST; Value of the Related Party Transaction as approved by the Audit Committee was Rs. 3.96 Lakh p.a. (plus applicable rates of GST). 2) Related Party Transactions that are required to be approved by any other Committee/Board of Directors are routed through such other Committee/Board of Directors. 3) Amount is inclusive of GST. 4) All related party transactions entered during the half year were in ordinary course of the business. 5) No amounts in respect of related parties have been written off / written back, nor has any provision been made for doubtful debts / receivables during the half year. | |
| Textual Information(21) | 1) Amount of Rs. 18.24 Lakh (including GST) represents Purchase of Air Tickets; Value of the related party transaction as approved by the Audit Committee was Rs. 200.00 Lakh p.a. (plus applicable rate of GST). 2) Amount is inclusive of GST. 3) Related Party Transactions that are required to be approved by any other Committee/Board of Directors are routed through such other Committee/Board of Directors. 4) All related party transactions entered during the half year were in ordinary course of the business. 5) No amounts in respect of related parties have been written off / written back, nor has any provision been made for doubtful debts / receivables during the half year. | |
| Textual Information(22) | 1) Amount of Rs. 12.25 Lakh represents the charges paid by the Company for availing servcies from Mode Enterprises LLP ; Value of the related party transaction as approved by the Audit Committee & Board of Directors is Rs. 30 Lakh p.a. for a period of 3 years. 2) Related Party Transactions that are required to be approved by any other Committee/Board of Directors are routed through such other Committee/Board of Directors. 3) All related party transactions entered during the half year were in ordinary course of the business. 4) No amounts in respect of related parties have been written off / written back, nor has any provision been made for doubtful debts / receivables during the half year. | |
| Textual Information(23) | 1) The amount of Rs. 9.00 Lakh represent amount paid by the Company to Mrs. Sakshi Mody, for aviling various services; Value of the related party transaction as approved by the Audit Committee & Board of Directors is Rs. 4.5 Lakh per quarter for a period of 3 years. 2) Related Party Transactions that are required to be approved by any other Committee/Board of Directors are routed through such other Committee/Board of Directors. 3) All related party transactions entered during the half year were in ordinary course of the business. 4) No amounts in respect of related parties have been written off / written back, nor has any provision been made for doubtful debts / receivables during the half year. | |
| Textual Information(24) | 1) Value of the related party transaction as approved by the Audit Committee was Rs. 500.00 Lakh. the Company has received back balalce amount Rs. 100.00 Lakh during the half year ended 31.03.2024. 2) Related Party Transactions that are required to be approved by any other Committee/Board of Directors are routed through such other Committee/Board of Directors. 3) All related party transactions entered during the half year were in ordinary course of the business. 4) No amounts in respect of related parties have been written off / written back, nor has any provision been made for doubtful debts / receivables during the half year. | |
| Textual Information(25) | 1) The amount of Rs. 0.72 Lakh represents the interset received from Leaders Healthcare Limited on Inter Corporate Deposit at the rate of 9% interest p.a. 2) Related Party Transactions that are required to be approved by any other Committee/Board of Directors are routed through such other Committee/Board of Directors. 3) All related party transactions entered during the half year were in ordinary course of the business. 4) No amounts in respect of related parties have been written off / written back, nor has any provision been made for doubtful debts / receivables during the half year. | |