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The Company enjoyed cordial relations with its employees at all levels. The agricultural sector is the backbone of the Indian economy. We possess seven processing plants at various strategic locations to process and supply the seed to the market well in advance. They have not reported any incident of fraud to the Audit Committee of the Company during the year under review. The Company’s Turnover of Rs. The Independent Directors expressed satisfaction with the overall performance of the Directors and the Board as a whole. The Company organises regular training programmes for its field staffs to impart them knowledge on crop production, quality control, agronomy, and plant protection, among others. Indian Accounting Standards - Ifrs Converge Standards. The Internal Audit reports are being reviewed by the Audit Committee of the Company. Kaveri consistently focuses on bringing talent on-board. Details in respect of adequacy of internal financial controls with reference to the financial statements are briefly iterated below: a. Kaveri Seeds is focusing its research efforts in field and vegetable crops to tailor promising hybrids and varieties that are suitable for cultivation under different environmental situations and resilient pan-India climatic conditions. The Company has established Enterprise Risk Management process to manage risks with the objective of maximizing shareholders value. Your Directors place on record their sincere appreciation for the dedication, hard work and commitment of the employees at all levels and their significant contribution to your Company’s growth. 59 Crs Quality seed is the order of the day. The Company has appointed internal auditors to examine the internal controls, whether the workflow of the organisation is being done through the approved policies of the Company. Compliance With Secretarial Standards on Board and General Meetings. There have been no other changes in the key managerial personnel during the year. Our websites will continue to be the best place to get news updates over the next months as we fully integrate our combined businesses. iv) that the Directors have prepared the annual accounts on a going concern basis. Changes in Directors and Key Managerial Personnel: Appointment of Independent Director Mrs. M. Chaya Ratan (DIN: 08085687) was appointed as an Additional and Independent Director with effect from 24th May 2018 by the Board of Directors at their meeting held on 24th May 2018 under section 161 of the Companies Act, 2013. During the same period, the consolidated revenue was Rs.81,937.48 Lakhs and net profit after noncontrolling interests was Rs.21,123.78 Lakhs. v) that the Directors have laid down Internal Financial Controls were in place to be followed by the Company and that the financial controls were adequate and were operating effectively and. In accordance with the provisions of Section 152 of the Companies Act, 2013 and the Company’s Articles of Association, Mr. C. Mithunchand (DIN :00764906), retires by rotation at the ensuing Annual General Meeting and being eligible, offers himself for re-appointment. There was no material change in the nature of the business carried on by the subsidiaries. The Company has developed a Related Party Transactions frame work through standard operation procedures for the purpose of identification and monitoring of such transactions. Old MCI!~!172@29@0@53!~!|commonstore|commonfiles|moneycontrol_header.php?cid=0&s_cid=0&radar_off=1&is_revamped_header=0&is_responsive=1&sec=PNC_ANNUALREPORT&priceinter=1&frommc=1!~!www|moneycontrol|com!~!|commonstore|commonfiles|moneycontrol_header.php!~!is_mobile=false, Represents Equity.Intra - day transactions are permissible and normal trading is done in this category, Old MCI!~!172@29@0@53!~!|commonstore|commonfiles|moneycontrol_footer.php?cid=0&sec=PNC_ANNUALREPORT&is_revamped_footer=0&is_responsive=1&rhsoff=1&is_news_section=1&is_skip_dfp=1&is_new_hp=1&priceinter=1&frommc=1!~!www|moneycontrol|com!~!|commonstore|commonfiles|moneycontrol_footer.php!~!is_mobile=false. The Nomination and Remuneration Policy as adopted by the Board is placed on the Company’s website: www.kaveriseeds.in. Your Company is one of India’s fastest-growing seed companies with an expansive portfolio, large network of distributors and dealers and a wide pan-India customer base. The Turnover of Kaveri Microtek is Rs.24.15 Crores with a Net Profit of Rs.1.74 Crores for FY 2018. In terms of Section 203 of the Companies Act 2013, the following are the Key Managerial Personnel (KMP) of the Company: Mr. G.V. A detailed Business Responsibility Report in terms of the provisions of Regulation 34 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is available as a separate section in this Annual Report. Genomix Agri Genetics Private Limited has been incorporated on 16th October 2017 as 100% Wholly Owned Subsidiary of the Company. The Company has received: i) consent in writing to act as a Director in Form DIR-2 pursuant to Rule 8 of the Companies (Appointment & Qualification of Directors) Rules, 2014; ii) Intimation in Form DIR-8 pursuant to terms of the Companies (Appointment & Qualification of Directors) Rules, 2014, from Mrs. M. Chaya Ratan to the effect that she is not disqualified as per Section 164(2) of the Companies Act, 2013; and iii) a declaration to the effect that she meets the criteria of independence as provided under Section 149 of the Companies Act, 2013. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited. In compliance with the relevant provisions of Section 133 of the Companies Act, 2013 and the Accounting Standards AS-21 and AS-27 on consolidated financial statements, read with the Accounting Standard AS-23 on Accounting for Investments in Associates, your Directors have pleasure in attaching the consolidated financial statements for the financial year ended March 31, 2018, which forms part of the Annual Report. Each year, there are at least four meetings in which the audit committee reviews internal audit findings assurance and advisory function, responsible for evaluating and improving the effectiveness of risk management, control and governance processes. Pursuant to Section 139(2) of the Companies Act, 2013, read with Companies (Audit and Auditors) Rules, 2014, the Company at its 30th Annual General Meeting (AGM) held on 25th September 2017, had appointed M/s.
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