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1

Contents

2 Company Information

3 Notice of the Annual General Meeting

11 Financial Highlights

12 Directors' Report

32 Management Discussion and Analysis

35 Report on Corporate Governance

48 Auditors’ Report

54 Balance Sheet

55 !"#"$%$&"'()'*+(,"'#&-'.(//

56 Notes on Financial Statements

69 Cash Flow Statement

2

BOARD OF DIRECTORS

Shri H.N. Taparia Chairman and Managing Director

Shri J.K. TapariaNon-Executive Director

Shri D.P. Taparia Non-Executive Director

Shri M.P. Taparia Non-Executive Director

Shri P.N. Shah Independent Director

!0+1'2323'.#--#Independent Director

Shri G.S. Manasawala Independent Director

Shri Rajeev J. Mundra Independent Director

Shri Shyam MalpaniIndependent Director(Upto 31st July, 2016)

Miss Bhavna ShamdasaniIndependent Director

Shri Virendraa BangurNon-Executive Director

Shri Sivaramakrishnan Director – Operations

Company SecretaryShri V. S. Datey

!"#$%&'#()(*#)+&,%-*$.Shri S. R. Bagad

Company Information

Board Committees

Audit Committee

Shri G.S. Manasawala (Chairman)

Shri P.N. Shah

!0+1'2323'.#--#

Shri Rajeev J. Mundra

Shri Shyam Malpani

(Upto 31st July, 2016)

Nomination and Remuneration

Committee


Shri P.N. Shah

!0+1'2323'.#--#


Shri Shyam Malpani


Shareholders Grievance

Committee

Shri D.P. Taparia (Chairman)

Shri H.N. Taparia

Shri Sivaramakrishnan

Corporate Social Responsibility

Committee

Shri H.N. Taparia (Chairman)

!0+1'2323'.#--#

Shri D.P. Taparia

Risk Management Committee


!0+1'2323'.#--#


Shri Shyam Malpani


Shri Sivaramakrishnan

Bankers

4567'2#&8'."-3

97979'2#&8'."-3

Central Bank of India

Auditors

M/s. Batliboi and Purohit, Chartered

Accountants, Mumbai

Secretarial Auditor

CS Sagar Khandelwal, Nashik

Registrar & Transfer Agents

:&1;$+/#<'7#=1"#<'!$>?+1"1$/'*;"3'."-3'

Mumbai

!/.0/.)1$&,%-*$

423/24, (A-2), Shah and Nahar,

.(@$+'*#+$<'ABCD'E?%F#1GHII'IJKD'

Maharashtra

Tele.: (91) (22) 24938646-50,

Fax : (91) (22) 24953230

E-Mail: [email protected]

Plants

1. 52 & 52B, MIDC Area, Satpur,

Nashik – 422 007 (Maharashtra)

L3'*<("'M(3.NLOD'7?&>(<1%'9&-?/"+1#<'

Estate, Cuncolim - 403 703, (Goa)

2$3#41$.$5&,%-*$

52 & 52B, MIDC Area, Trimbak

Road, Satpur, Nashik – 422 007,

Maharashtra

Tele. :(0253) 2350317/318/418,

Fax : (0253) 2350740

79MP'.OOOOOE4JOQR*.7IJKKOL

E-Mail: [email protected]

B$F'!1"$P'@@@3"#=#+1#"((</3>(%

3

Notice

NOTICE is hereby given that Fiftieth Annual General Meeting of TAPARIA TOOLS LIMITED will be held at Hotel Emerald Park, Sharanpur Link Road, Nashik- 422 002 on Thursday, the 29th day of September, 2016 at 9.30 a.m. to transact the following business:

AS ORDINARY BUSINESS

1. To consider and adopt the Audited Financial Statements of the Company for the Financial Year ended 31st March, 2016 including the Audited Balance Sheet as at 31st!"#$%&'!()*+!#,-!.&/!0.#./1/,.!23!4$25.!#,-!6277!32$!.&/!year ended on that date and the Reports of the Board of Directors and Auditors thereon.

2. To appoint a Director in place of Shri M. P. Taparia (DIN 00126971), who retires by rotation and being eligible, offers himself for re-appointment.

89!! :2!#;;2<,.!0.#.=.2$>!?=-<.2$7!#,-!5@!.&/<$!$/1=,/$#.<2,!#,-!<,!.&<7!$/A#$-!.2!%2,7<-/$!#,-!<3!.&2=A&.!5.'!.2!;#77'!B<.&!2$!B<.&2=.!12-<5%#.<2,C7D'!.&/!32EE2B<,A!$/72E=.<2,!#7!#,!F$-<,#$>!G/72E=.<2,H

“RESOLVED that pursuant to the provisions of Section 139 and Section 142 and other applicable provisions, if

#,>'!23!.&/!I21;#,</7!?%.'!()*8!$/#-!B<.&!.&/!5$7.!;$2J<72!.2!G=E/!8CKD!23!.&/!I21;#,</7!C?=-<.!#,-!?=-<.2$7D!Rules, 2014, as amended from time to time, M/S. BATLIBOI & PUROHIT, Chartered Accountants, Mumbai CG/A<7.$#.<2,!L29*)*)MNOD'!P/!#,-!#$/!&/$/P>!#;;2<,./-!#7!.&/!0.#.=.2$>!?=-<.2$7!23!.&/!I21;#,>!.2!&2E-F35%/!#7!?=-<.2$7!3$21!.&/!%2,%E=7<2,!23!.&<7!?,,=#E!Q/,/$#E!"//.<,A!=,.<E!.&/!%2,%E=7<2,!23!.&/!,/@.!?,,=#E!Q/,/$#E!Meeting including adjourned Annual General Meeting, if any, of the Company at a remuneration of Rs. 3,00,000/- CG=;//7!:&$//!E#R&7!2,E>D!;E=7!0/$J<%/!:#@!#7!#;;E<%#PE/'!#,-!$/<1P=$7/1/,.!23!#%.=#E!2=.S23S;2%R/.!/@;/,7/7!as may be incurred for the purpose of Audit”.

AS SPECIAL BUSINESS

4. Enhance the Borrowing powers of Board from Rs. 80 crores to Rs.200 crores. ! :2!%2,7<-/$!#,-'!<3!.&2=A&.!5.'!.2!;#77!.&/!32EE2B<,A!$/72E=.<2,7!#7!0;/%<#E!G/72E=.<2,H!

“RESOLVED THAT in supersession of the earlier resolutions passed under Section 293(1)(d) and 293(1)(a) of .&/!I21;#,</7!?%.'!*TU+!#.!.&/!V@.$#2$-<,#$>!Q/,/$#E!"//.<,A!&/E-!2,!)NW)MW()**'!.&/!%2,7/,.!23!.&/!I21;#,>!be and is hereby accorded to the Board of Directors of the Company (hereinafter referred to as the “Board” which term shall be deemed to include any committee thereof) under provisions of Section 180(1)(c) of the Companies Act, 2013 as amended from time to time and Articles of Association of the Company for borrowing, from time to time, any sum or sums of monies which together with the monies already borrowed by the Company (apart from temporary loans obtained or to be obtained from the Company’s bankers in the ordinary course of business) from time to time, either by way of rupee loans or by way of foreign currency loans or by way of issue of debentures or by issue of other instruments, and either from the Company’s Bankers or from any other Banks/Financial Institutions or any other lending institutions or bodies corporate or other persons on such terms, conditions #,-!%2J/,#,.7!#7!#$/!7.<;=E#./-!#,-!#7!1#>!P/!%2,7<-/$/-!#;;$2;$<#./!P>!.&/!X2#$-!23!Y<$/%.2$7'!1#>!/@%//-!the aggregate of the paid up capital of the Company and its free reserves provided that the total amount so P2$$2B/-!P>!.&/!X2#$-!7&#EE!,2.!#.!#,>!.<1/!/@%//-!G79())!%$2$/7!2$!.&/!#AA$/A#./!23!.&/!;#<-!=;!%#;<.#E!#,-!free reserves of the Company, whichever is higher.”

“RESOLVED FURTHER THAT for the purpose of giving effect to the resolution, the Board of Directors of the I21;#,>!P/!#,-!<7!&/$/P>!#=.&2$<Z/-!.2!5,#E<7/'!7/..E/!#,-!/@/%=./!#EE!-2%=1/,.7W-//-7W#A$//1/,.7!#7!1#>!P/!required, and generally to take all other necessary steps and to do all acts, deeds, matters and things as it may <,!<.7!#P72E=./!-<7%$/.<2,!-//1!,/%/77#$>'!/@;/-</,.'!;$2;/$!2$!-/7<$#PE/'!#,-!.2!7/..E/!#,>![=/7.<2,'!-<35%=E.>!2$!doubt that may arise in regard to the creation of the aforesaid mortgages, charges, or otherwise considered by the Board of Directors to be in the best interest of Company”

“RESOLVED FURTHER THAT the actions taken by the company during the period 1st April, 2013 till passing of .&<7!$/72E=.<2,!P/!#,-!#$/!&/$/P>!$#.<5/-9\

4

5. Creation of Charges on the movable and immovable properties of the Company, both present and future, in respect of borrowings.

! :2!%2,7<-/$!#,-'!<3!.&2=A&.!5.'!.2!;#77!.&/!32EE2B<,A!$/72E=.<2,7!#7!0;/%<#E!G/72E=.<2,7H!

“RESOLVED THAT in supersession of the earlier resolutions passed under Section 293(1)(a) of the Companies Act, 1956 for creation of charge, mortgage and hypothecation for the borrowings made under Section 293(1)(d) of the Companies Act, 1956, the consent of the Company be and is hereby given to the Board of Directors of the Company (hereinafter referred to as the “Board” which term shall be deemed to include any committee thereof) in terms of Section 180(1)(a) of the Companies Act, 2013 as amended from time to time to create such %&#$A/'!12$.A#A/!#,-!&>;2.&/%#.<2,!<,!#--<.<2,!.2!.&/!/@<7.<,A!%&#$A/'!12$.A#A/!#,-!&>;2.&/%#.<2,!%$/#./-!P>!the Company, on such movable and immovable properties, both present and future, and in such manner as the X2#$-!1#>!-//1!5.!.2!7/%=$/!.&/!P2$$2B<,A7!23!.&/!I21;#,>!.2A/.&/$!B<.&!<,./$/7.!#.!.&/!$/7;/%.<J/!#A$//-!rates, additional interest, compound interest in case of default, accumulated interest, liquidated damages, commitment charges, premia on prepayment or on redemption, remuneration of Agent(s)/ Trustee(s) and all 2.&/$!%27.7'!%&#$A/7!#,-!/@;/,7/7'!<,%E=-<,A!#,>!<,%$/#7/!#7!#!$/7=E.!23!-/J#E=#.<2,W$/J#E=#.<2,W]=%.=#.<2,!<,!.&/!$#./7!23!/@%&#,A/!#,-!#EE!2.&/$!12,</7!;#>#PE/!P>!.&/!I21;#,>!<,!./$17!23!E2#,!#A$//1/,.7W-/P/,.=$/!.$=7.!deeds or any other document entered into/to be between the Company and the Lender(s) Agent(s) Trustee(s) in respect of the said loans/borrowings/debentures either by way of mortgage (including equitable mortgage), hypothecation, pledge, and/or lien in addition to the mortgages/charges created/ to be created by Company on such terms and conditions, in such form and manner and with such ranking for priority and at such times as the Board of Directors may determine, on all or any of the properties of the Company including land, building, plant, 1#%&<,/$>'!2.&/$!5@/-!#77/.7'!7.2%R!<,!.$#-/'!P22R!-/P.7'!P#,R!-/;27<.7'!7&#$/7'!7/%=$<.</7!#,-!#,>!2.&/$!#77/.7!as held presently and/or to be acquired in future and by giving guarantees, indemnities, undertakings for and on behalf of the Company.

Provided that the total amount of Loans together with interest thereon, additional interest, compound interest,

E<[=<-#./-!-#1#A/7'!%211<.1/,.!%&#$A/7'!/@;/,7/7!#,-!#EE!2.&/$!12,</7!;#>#PE/!P>!.&/!I21;#,>!<,!$/7;/%.!23!.&/!7#<-!62#,7!32$!B&<%&!.&/!%&#$A/!<7!.2!P/!%$/#./-'!7&#EE!,2.'!#.!#,>!.<1/!/@%//-!G79!())!%$2$/7!2$!.&/!aggregate of the paid up capital and free reserves of the Company, whichever is higher.”

“RESOLVED FURTHER THAT for the purpose of giving effect to the resolution, the Board of Directors of the I21;#,>!P/!#,-!<7!&/$/P>!#=.&2$<Z/-!.2!5,#E<7/'!7/..E/!#,-!/@/%=./!#EE!-2%=1/,.7W-//-7W#A$//1/,.7!#7!1#>!P/!required, and generally to take all other necessary steps and to do all acts, deeds, matters and things as it may <,!<.7!#P72E=./!-<7%$/.<2,!-//1!,/%/77#$>'!/@;/-</,.'!;$2;/$!2$!-/7<$#PE/'!#,-!.2!7/..E/!#,>![=/7.<2,'!-<35%=E.>!2$!doubt that may arise in regard to the creation of the aforesaid mortgages, charges, or otherwise considered by the Board of Directors to be in the best interest of Company”

“RESOLVED FURTHER THAT the actions taken by the company during the period 1st April, 2013 till passing of

.&<7!$/72E=.<2,!P/!#,-!#$/!&/$/P>!$#.<5/-9\

By order of the Board

For TAPARIA TOOLS LTD.

V. S. Datey

Mumbai, 13th August, 2016 Company Secretary

!"#$%&"'"()*+,-".

52 and 52B, MIDC Area,

Trimbak Road, Satpur,


CIN: L99999MH1965PLC013392

E-mail: [email protected]

5

Notes:

*D! ?!1/1P/$!/,.<.E/-!.2!#../,-!#,-!J2./!#.!.&/!1//.<,A!<7!/,.<.E/-!.2!#;;2<,.!#!;$2@>!.2!#../,-!#,-!J2./!2,!#!;2EE!<,7./#-!23!&<17/E3!#,-!.&/!;$2@>!,//-!,2.!P/!#!1/1P/$!23!.&/!%21;#,>9!

(D! :&/!<,7.$=1/,.!#;;2<,.<,A!.&/!;$2@>!7&2=E-'!&2B/J/$'!P/!-/;27<./-!#.!.&/!$/A<7./$/-!235%/!23!.&/!I21;#,>!,2.!less than forty-eight hours before the commencement of the Meeting.

8D! ?!;/$72,!%#,!#%.!#7!#!;$2@>!2,!P/&#E3!23!1/1P/$7!,2.!/@%//-<,A!53.>!#,-!&2E-<,A!<,!.&/!#AA$/A#./!,2.!12$/!than ten percent of the total share capital of the company carrying voting rights. A member holding more than ./,!;/$%/,.!23!.&/!.2.#E!7&#$/!%#;<.#E!23!.&/!%21;#,>!%#$$><,A!J2.<,A!$<A&.7!1#>!#;;2<,.!#!7<,AE/!;/$72,!#7!;$2@>!#,-!7=%&!;/$72,!7&#EE!,2.!#%.!#7!#!;$2@>!32$!#,>!2.&/$!;/$72,!2$!7&#$/&2E-/$9

4) The business set out in the Notice will be transacted through electronic voting system and the Company is providing facility for voting by electronic means. Instructions and other information relating to e-voting are given <,!.&<7!L2.<%/!=,-/$!?,,/@=$/!^^9!:&/!I21;#,>!B<EE!#E72!7/,-!%211=,<%#.<2,!$/E#.<,A!.2!$/12./!/SJ2.<,A!B&<%&!inter alia would contain details about User ID and password along with a copy of this Notice to the members, separately.

5) Corporate members intending to send their authorised representatives to attend the Meeting are requested to 7/,-!.2!.&/!I21;#,>!#!%/$.<5/-!.$=/!%2;>!23!.&/!X2#$-!G/72E=.<2,!#=.&2$<Z<,A!.&/<$!$/;$/7/,.#.<J/!.2!#../,-!#,-!vote on their behalf at the Meeting.

6) Details under Regulation 36 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, in respect of the Directors seeking appointment/ re-appointment/ continuation at the Annual General Meeting, forms part of the notice. The Directors have furnished the requisite declarations for their appointment/ reappointment.

7) A Statement pursuant to section 102(1) of the Companies Act, 2013, relating to the Special Business to be .$#,7#%./-!#.!.&/!"//.<,A!<7!#,,/@/-!&/$/.29

ND! "/1P/$7W4$2@</7!#$/!$/[=/7./-!.2!P$<,A!.&/<$!%2;>!23!.&/!?,,=#E!G/;2$.!#,-!.&/!?../,-#,%/!0E<;!-=E>!5EE/-!<,!with them at the Annual General Meeting.

9) In case of joint holders attending the Meeting, only such joint holder who is higher in the order of names will be entitled to vote.

10) Relevant documents referred to in the accompanying Notice and the Statement are open for inspection by the 1/1P/$7!#.!.&/!G/A<7./$/-!F35%/!23!.&/!I21;#,>!2,!#EE!B2$R<,A!-#>7'!/@%/;.!0#.=$-#>7'!-=$<,A!P=7<,/77!&2=$7!up to the date of the Meeting.

**D! :&/!I21;#,>!&#7!,2.<5/-!%E27=$/!23!G/A<7./$!23!"/1P/$7!#,-!0&#$/!:$#,73/$!X22R7!3$21!_$<-#>'!0/;./1P/$!(8rd, 2016 to Thursday, September 29th, 2016 (both days inclusive) for determining the names of members eligible for dividend on Equity Shares, if declared at the Meeting.

12) Members holding shares in electronic form are requested to intimate immediately any change in their address or bank mandates to their Depository Participants with whom they are maintaining their demat accounts. Members holding shares in physical form are requested to advise any change in their address or bank mandates immediately to the Company / RTA.

*8D! :&/!I21;#,>!&#7!.$#,73/$$/-!.&/!=,;#<-!2$!=,%E#<1/-!-<J<-/,-7!-/%E#$/-!=;!.2!5,#,%<#E!>/#$7!())KS)N!.2!.&/!Investor Education and Protection Fund (the IEPF) established by the Central Government. Pursuant to the provisions of Investor Education and Protection Fund (Uploading of information regarding unpaid and unclaimed amounts lying with companies) Rules, 2012, the Company has uploaded the details of unpaid and unclaimed amounts lying with the Company as on 29-09-2015 (date of last Annual General Meeting) on the website of the Company (www.tapariatools.com), as also on the website of the Ministry of Corporate Affairs.

*MD! :&/!0/%=$<.</7!#,-!V@%&#,A/!X2#$-!23!^,-<#!C0VX^D!&#7!1#,-#./-!.&/!7=P1<77<2,!23!4/$1#,/,.!?%%2=,.!L=1P/$!

6

(PAN) by every participant in securities market. Members holding shares in electronic form are, therefore, requested to submit their PAN to their Depository Participants with whom they are maintaining their demat accounts. Members holding shares in physical form can submit their PAN to the Company / RTA.

15) Members holding shares in single name and physical form are advised to make nomination in respect of their shareholding in the Company. The nomination form can be downloaded from the Company’s website www.tapariatools.com under the section ‘Investor Relations’.

16) Members who hold shares in physical form in multiple folios in identical names or joint holding in the same order 23!,#1/7!#$/!$/[=/7./-!.2!7/,-!.&/!7&#$/!%/$.<5%#./7!.2!G:?'!32$!%2,72E<-#.<2,!<,.2!#!7<,AE/!32E<29

17) Non-Resident Indian Members are requested to inform RTA, immediately of

(a) Change in their residential status on return to India for permanent settlement.

(b) Particulars of their bank account maintained in India with complete name, branch, account type, account number and address of the bank with pin code number, if not furnished earlier.

18) Members who have not registered their e-mail addresses so far, are requested to register their e-mail address for receiving all communication including Annual Report, Notices, Circulars, etc. from the Company electronically.

7

EXPLANATORY STATEMENT

Under Section 102 Of The Companies Act, 2013

The following statement sets out all material facts relating to the Special Business mentioned in the accompanying notice.

ITEM No.4 and 5

:&/!7&#$/&2E-/$7!<,!V@.$#2$-<,#$>!Q/,/$#E!"//.<,A!&/E-!2,!Nth November, 2011 had enhanced the borrowing power 23!.&/!X2#$-!23!Y<$/%.2$7!.2!#,!#12=,.!,2.!/@%//-<,A!G79!N)!I$2$/7'!<,!.&/!#AA$/A#./!#.!#,>!;2<,.!23!.<1/9

To meet the fund requirements of the company, the Company may require to borrow from time to time by way of loans and/or issue of Bonds, Debentures or other securities. It is, therefore, recommended to enhance the borrowing limits of the Company upto Rs. 200 Crores (Rupees Two Hundred Crores Only). As per Section 180(1)(c ) of the Companies Act, 2013, borrowings (apart from temporary loans obtained from the Company’s bankers in ordinary course of business) by the Company beyond the aggregate of the paid up capital of the company and its free reserve requires approval from the shareholders of the Company. It is, therefore, proposed to seek the approval of the shareholders for enhancing the borrowing limits upto Rs. 200 crores (apart from temporary loans obtained from the Company’s bankers in the ordinary course of business) under section 180(1)(c) and 180(1)(a) of the Companies Act, 2013 by way of a Special Resolution.

It is proposed to pass a Special Resolution under Section 180(1)(a) of the Companies Act, 2013, inter alia, provides that the Board of Directors of a public company shall not without the consent of members sell, lease or otherwise dispose of the whole or substantially the whole of the undertaking of the company or where a company owns more than one undertaking, the whole or substantially the whole of any such undertaking. Since the creation of a mortgage and/or charge by the company on its movable and/or immovable assets in favour of the lender(s) may be regarded as disposal of the Company’s undertaking within the meaning of Section 180(1)(a) of the Companies Act, 2013, it is desirable by way of abundant caution to pass Special resolution under Section 180(1)(a) of the Companies Act, 2013. Accordingly, the Directors recommend the resolution set out in this item of the accompanying notice for your approval.

The Directors recommend the Special Resolutions pursuant to Section 180(1)(c) and 180(1)(a) of the Companies Act, 2013 of the accompanying Notice for the approval of the Members of the Company.

None of the Directors, Key Managerial Personnel and their relatives are, in any way, concerned or interested in the 7#<-!$/72E=.<2,7!/<.&/$!5,#,%<#EE>!2$!2.&/$B<7/'!/@%/;.!.2!.&/!/@./,.!23!.&/<$!/[=<.>!&2E-<,A!<,!.&/!I21;#,>9!

By order of the Board

For TAPARIA TOOLS LTD.

V. S. Datey

Mumbai, 13th August, 2016 Company Secretary

!"#$%&"'"()*+,-".

52 and 52B, MIDC Area,

Trimbak Road, Satpur,


CIN: L99999MH1965PLC013392

E-mail: [email protected]

8

Annexure I

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[In pursuance of Regulation 36(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015]

=07")*+)&2")/$'"-&*') >2'$)<?)@?)A060'$0)B/C=.DDEFGHIEJ

Date of Birth 10.10.1947

Date of Appointment/Re-appointment24.09.2014

Relationship with DirectorsRelative of Shri J.K. TapariaRelative of Shri D.P. TapariaRelative of Shri H.N. Taparia

V@;/$.<7/!<,!0;/%<5%!3=,%.<2,#E!#$/#7 Sales Management

V-=%#.<2,#E!`=#E<5%#.<2,7 B. Com.

Chairman/Member of the Committee of the Board of directors

Nil

Number of Shares held in the Company 143565

9

Annexure II

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i. The voting period begins on 26th September 2016 at 9.00 a.m. and ends on 28th September 2016 at 5.00 p.m. During this period shareholders of the Company, holding shares either in physical form or in dematerialized form, as on the cut-off date (record date) of 22nd September 2016 may cast their vote electronically. The e-voting module shall be disabled by CDSL for voting thereafter.

ii. Shareholders who have already voted prior to the meeting date would not be entitled to vote at the meeting venue.

iii. The shareholders should log on to the e-voting website www.evotingindia.com.

iv. Click on Shareholders.

v. Now Enter your User ID ! #9! _2$!IY06H!*+!-<A<.7!P/,/5%<#$>!^Y'! b. For NSDL: 8 Character DP ID followed by 8 Digits Client ID, c. Members holding shares in Physical Form should enter Folio Number registered with the Company.

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vii. If you are holding shares in demat form and had logged on to www.evotingindia.com and voted on an earlier J2.<,A!23!#,>!%21;#,>'!.&/,!>2=$!/@<7.<,A!;#77B2$-!<7!.2!P/!=7/-9!

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PAN V,./$!>2=$!*)!-<A<.!#E;&#S,=1/$<%!b4?L!<77=/-!P>!^,%21/!:#@!Y/;#$.1/,.!C?;;E<%#PE/!32$!both demat shareholders as well as physical shareholders)

Members who have not updated their PAN with the Company/Depository Participant are $/[=/7./-! .2! =7/! .&/! 5$7.! .B2! E/../$7! 23! .&/<$! ,#1/! #,-! .&/! N! -<A<.7! 23! .&/! 7/[=/,%/!,=1P/$!<,!.&/!4?L!5/E-9In case the sequence number is less than 8 digits enter the applicable number of 0’s before .&/!,=1P/$!#3./$!.&/!5$7.!.B2!%&#$#%./$7!23!.&/!,#1/!<,!I?4^:?6!E/../$79!VA9!^3!>2=$!,#1/!<7!G#1/7&!c=1#$!B<.&!7/[=/,%/!,=1P/$!*!.&/,!/,./$!G?)))))))*!<,!.&/!4?L!5/E-9

Dividend Bank DetailsOR Date of Birth (DOB)

Enter the Dividend Bank Details or Date of Birth (in dd/mm/yyyy format) as recorded in your demat account or in the company records in order to login.If both the details are not recorded with the depository or company please enter the 1/1P/$!<-!W!32E<2!,=1P/$!<,!.&/!Y<J<-/,-!X#,R!-/.#<E7!5/E-!#7!1/,.<2,/-!<,!<,7.$=%.<2,!CJD9

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10

@<<<9! F,!.&/!J2.<,A!;#A/'!>2=!B<EE!7//!dGV0F6e:^FL!YV0IG^4:^FL\!#,-!#A#<,7.!.&/!7#1/!.&/!2;.<2,!diV0WLF\!32$!voting. Select the option YES or NO as desired. The option YES implies that you assent to the Resolution and option NO implies that you dissent to the Resolution.

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@J<<<9! 3!#!-/1#.!#%%2=,.!&2E-/$!&#7!32$A2../,!.&/!E2A<,!;#77B2$-!.&/,!V,./$!.&/!e7/$!^Y!#,-!.&/!<1#A/!J/$<5%#.<2,!code and click on Forgot Password & enter the details as prompted by the system.

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k! ?!7%#,,/-!%2;>!23!.&/!G/A<7.$#.<2,!_2$1!P/#$<,A!.&/!7.#1;!#,-!7<A,!23!.&/!/,.<.>!7&2=E-!P/!/1#<E/[email protected].

k! ?3./$!$/%/<J<,A!.&/!E2A<,!-/.#<E7!#!I21;E<#,%/!e7/$!7&2=E-!P/!%$/#./-!=7<,A!.&/!#-1<,!E2A<,!#,-!;#77B2$-9!The Compliance User would be able to link the account(s) for which they wish to vote on.

k! :&/!E<7.!23!#%%2=,.7!E<,R/-!<,!.&/!E2A<,!7&2=E-!P/!1#<E/-!.2!&/E;-/7R9/J2.<,Al%-7E<,-<#9%21!#,-!2,!#;;$2J#E!of the accounts they would be able to cast their vote.

k! ?!7%#,,/-!%2;>!23!.&/!X2#$-!G/72E=.<2,!#,-!42B/$!23!?..2$,/>!C4F?D!B&<%&!.&/>!&#J/!<77=/-!<,!3#J2=$!23!the Custodian, if any, should be uploaded in PDF format in the system for the scrutinizer to verify the same.

@@<9! ^,! %#7/! >2=! &#J/! #,>! [=/$</7! 2$! <77=/7! $/A#$-<,A! /SJ2.<,A'! >2=!1#>! $/3/$! .&/! _$/[=/,.E>! ?7R/-!`=/7.<2,7!(“FAQs”) and e-voting manual available at www.evotingindia.com, under help section or write an email to [email protected].

11

Financial Highlights

SHAREHOLDERS’ FUND

1967-1968 : ` 39.80 Lakhs

2015-2016 : ` 8108.53 Lakhs(` in Lakhs)

FDEE9EF FDEF9ER FDER9ES FDES9ET FDET9EG

FOR THE YEAR

1. Gross Revenue 22419.25 24195.98 26737.74 29755.47 33810.72

(9! 4$25.!P/32$/!:#@! 1126.85 1381.02 1853.31 1510.54 1933.46

89! 4$25.!#3./$!:#@ 727.42 957.54 1191.49 972.98 1265.20

4. Retained Earnings 2357.78 3217.32 4289.66 5150.34 6287.15

5. Cash Generation 790.72 1024.19 1276.59 885.15 1220.73

+9! _2$/<A,!V@%&#,A/!V#$,<,A7 278.18 263.87 350.05 225.16 308.97

AT YEAR END

K9! Q$277!_<@/-!?77/.7 2847.59 3044.63 3038.53 3042.22 3116.87

8. Share capital 303.58 303.58 303.58 303.58 303.58

9. Reserves and Surplus 3444.02 4395.94 5581.81 6539.75 7804.96

10. Net Worth 3747.60 4699.52 5885.38 6843.33 8108.53

11. Borrowings 2860.33 2616.77 2592.32 2669.44 3022.40

12. Capital Employed 6607.93 7316.29 8477.70 9512.77 11130.93

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13. Net Worth per Equity Share 123.45 154.80 193.85 225.41 267.08

14. Earnings per Share 23.96 31.54 39.25 32.05 41.68

RATIO

15. Debt : Equity Ratio (Debt : Equity Share Capital)

9.42 8.62 8.53 8.79 9.96

12

Directors’ ReportTo the Members of Taparia Tools Limited,

Your Directors have pleasure in presenting the 50th Annual Report on the operations of the Company together with the Audited Financial Statements for the year ended March 31, 2016.

FINANCIAL PERFORMANCE(` in Lakhs)

FDET9FDEG FDES9FDET

Revenue (Net) 33810.72 29755.47

@'*,&)N"+*'")$4&"'"%&)04()("6'"-$0&$*4 2203.59 1763.97

Less : Interest 225.66 165.60

;'*%%)@'*,& 1977.93 1422.71

Less : Depreciation 44.47 (87.83)

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1933.46 1510.54

Less : Provision for .#@#.<2,

I=$$/,.!:#@ 687.27 502.49

Y/3/$$/-!:#@ (19.01) 35.06

4$25.!#3./$!.#@ 1265.20 972.99

Add :Surplus brought forward from previous year 5150.34 4289.66

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6415.54 5262.64

UO-"%%)/"6'"-$0&$*4)transferred

- (15.04)

Less : General Reserve (128.40) (97.26)

>:'61:%)-0''$"()&*

W0104-")>2""& 6287.14 5150.34

DIVIDEND

The Directors have not recommended any dividend for the year under review. The Company has retained the 3=,-7!32$!/@;#,7<2,!23!.&/!#%.<J<.</7!23!.&/!I21;#,>!P>!introducing additional product range and purchase of Machinery & Equipments etc.

REVIEW OF OPERATIONS

The Indian economy has certainly performed creditably as compared to most developed and emerging markets of the world in the past year. The macroeconomic condition <7!7.#PE/m!%2,7=1/$!;$<%/! <,]#.<2,! <7!B/EE!=,-/$!%2,.$2E!#,-!.&/!B&2E/7#E/!;$<%/!<,]#.<2,!<7!<,!,/A#.<J/!./$$<.2$>m!

there have been four interest rate cuts by the Reserve Bank of India; and thanks to historically low prices of crude oil, minerals and metals, input costs have reduced with the balance of payment situation being better than <.!&#7!P//,!<,!.&/!E#7.!5J/!>/#$79!:&/!E#./7.!/7.<1#./7!23!the Central Statistical Organisation suggest that growth 23! ^,-<#j7! Q$277! a#E=/! ?--/-! B<EE! ,2.! 2,E>! P/! &<A&/$!than the previous year’s but also the best among large emerging economies.

The Company’s working during the year is satisfactory. :&/!I21;#,>j7!.2.#E!$/J/,=/!CL/.!23!/@%<7/!-=.>D!B/$/!Rs.33,810.72 Lakhs that represent an increase of 13.63% over the sales of Rs.29,755.47 Lakhs in the previous >/#$9!4$25.!/#$,/-!#3./$!.#@!<7!G79*'(+U9()!6#R&7!<,!.&/!current year representing an increase of 30.03% against Rs. 972.99 Lakhs in the previous year.

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The Company is committed to maintain the highest standards of Corporate Governance and adhere to the Corporate Governance requirements set out by SEBI. The Company has also implemented several best Corporate Governance practices as prevalent globally.

A report on Corporate Governance together with a %/$.<5%#./! 3$21!.&/!#=-<.2$7!23! .&/!I21;#,>!$/A#$-<,A!compliance of conditions of Corporate Governance as stipulated under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 forms part of this Annual Report.

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The equity shares of the company are listed on the X21P#>! 0.2%R! V@%&#,A/9! :&/! E<7.<,A! 3//7! 32$! .&/! >/#$!2016-2017 have been paid to BSE.

PUBLIC DEPOSITS

Y=$<,A!.&/!5,#,%<#E!>/#$!()*US*+'!.&/!I21;#,>!&#7!,2.!accepted any deposit within the meaning of Sections 73 and 74 of the Companies Act, 2013 (“the Act”) read together with the Companies (Acceptance of Deposits) Rules, 2014.

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Y=$<,A! .&/! 5,#,%<#E! >/#$! ()*US*+'! .&/! I21;#,>! &#7!not given any guarantee for loans taken by others from P#,R7!2$!2.&/$!5,#,%<#E! <,7.<.=.<2,79!:&/!I21;#,>!&#7!not taken any Term Loan.

HUMAN RESOURCE DEVELOPMENT

The motivated and engaging workforce which has served the company for more than four decades lies at the very

13

foundation of the company’s major achievements and shall well continue for the years to come.

The Company has been taking honest efforts in training of individuals, providing them new and earnest opportunities in brushing developing and polishing skills .&#.! #$/! P/,/5%<#E! 32$! .&/! /1;E2>//7! #7! B/EE! #7! .&/!Organisation as a whole.

The Company’s focus on retention through employee engagement initiatives and providing a holistic environment, gathers opportunities for employees to realize their potential. Company’s performance driven %=E.=$/!&/E;7!#,-!12.<J#./7!/1;E2>//7!.2!/@%/E!<,!.&/<$!respective areas and progress within the organization.

The company has always recognized talent and has judiciously followed the principle of rewarding performance.

/C!UQAX!>)5=/)]U^)<5=5;U!C5Z)@U!>X==UZ

Shri Shyam Malpani, Independent Director of the Company has resigned from the Board of Directors of the Company with effect from 1st August, 2016. The Board wishes to place on record its appreciation for the valuable contribution made by him during his tenure as a Director of the Company.

Shri M.P. Taparia Director of the Company retires by rotation at the ensuing Annual General Meeting and being eligible, offers himself for re-appointment. Brief ;$25E/!23!0&$<!"949!:#;#$<#! <7!A<J/,! <,! .&/!?,,/@=$/! .2!the Notice.

INDEPENDENT DIRECTORS’ DECLARATION

The terms and conditions of appointment of Independent Y<$/%.2$7!#$/!#7!;/$!0%&/-=E/!^a!23!.&/!I21;#,</7!?%.'!2013. They have submitted a declaration that each of them meets the criteria of independence as provided in Section 149(6) of the Act and there has been no change in the circumstances which may affect their status as independent director during the year.

DIRECTORS’ RESPONSIBILITY STATEMENT

Pursuant to section 134(3C) of the Companies Act, 2013, with respect to Directors’ Responsibility Statement, it is &/$/P>!%2,5$1/-!.&#.H

1) in the preparation of the annual accounts for the year ended March 31st 2016, the applicable accounting standards have been followed along with proper /@;E#,#.<2,!$/E#.<,A!.2!1#./$<#E!-/;#$.=$/7m

2) the Directors have selected such accounting policies and applied them consistently and made judgments

and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs 23!.&/!%21;#,>!#.!.&/!/,-!23!.&/!5,#,%<#E!>/#$!#,-!23!.&/!;$25.!23!.&/!%21;#,>!32$!.&/!7#1/!;/$<2-m

8D! .&/! Y<$/%.2$7! &#J/! .#R/,! ;$2;/$! #,-! 7=35%</,.!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;

4) the Directors have prepared the annual accounts on a ‘going concern’ basis;

UD! .&/! Y<$/%.2$7! &#J/! E#<-! -2B,! <,./$,#E! 5,#,%<#E!controls in the company that are adequate and operating effectively.

6) the Directors have devised proper systems to ensure compliance with the provisions of all applicable laws and these are adequate and are operating effectively.

BOARD EVALUATION

The board of directors has carried out an evaluation of its own performance, Board committees and individual directors. Performance evaluation has been carried out as per the Nomination & Remuneration Policy.

The performance of the Board was evaluated by the Board after seeking inputs from all the directors on the basis of the criteria such as the Board composition and structure, effectiveness of board processes, information and functioning, etc.

Further, the performance of the committees was evaluated by the board after seeking inputs from the committee members on the basis of the criteria such as the composition of committees, effectiveness of committee meetings, etc.

RELATED PARTY TRANSACTIONS

There were no contracts or arrangements entered into by the company in accordance with provisions of section 188 of the Companies Act, 2013. Also there were no 1#./$<#EE>!7<A,<5%#,.!G/E#./-!4#$.>!.$#,7#%.<2,7!1#-/!P>!the Company with Promoters, Directors or Key Managerial 4/$72,,/E!/.%9!B&<%&!1#>!&#J/!;2./,.<#E!%2,]<%.!B<.&!.&/!interest of the company at large. Thus disclosure in Form AOC-2 is not required.

INTERNAL CONTROL SYSTEM AND THEIR ADEQUACY

The Company has in place Internal Control Systems, %211/,7=$#./!B<.&!.&/!7<Z/!#,-!%21;E/@<.>!23!<.7!2;/$#.<2,7!

14

.2! /,7=$/! ;$2;/$! $/%2$-<,A! 23! 5,#,%<#E! #,-! 2;/$#.<2,#E!information compliance of various internal controls and other regulatory and statutory compliance. During the year under review, no material or serious observation has been received from the Internal Auditors of the Company for <,/35%</,%>!2$!<,#-/[=#%>!23!7=%&!%2,.$2E79

PARTICULARS OF EMPLOYEES

The Information required pursuant to Section 197 read with Rule 5 of The Companies (Appointment and Remuneration of Managerial Personnel) Rule 2014 <,! $/7;/%.! 23! /1;E2>//7! 23! .&/! I21;#,>! <7! #,,/@/-!&/$/B<.&!#7!?,,/@=$/!S!n?j9

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Four meetings of the Board of Directors were held during the year. For further details of the meetings, please refer to the Corporate Governance Report, which forms part of this report.

AUDIT COMMITTEE

The composition, terms of reference etc. of the Audit Committee is provided in Corporate Governance Report which forms part of this Annual Report.

There have been no instances of non-acceptance of any recommendations of the Audit Committee by the Board -=$<,A!.&/!5,#,%<#E!>/#$!=,-/$!$/J</B9

AUDITORS AND AUDITORS’ REPORT

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The Company’s auditors M/s. Batliboi and Purohit, (Regd. No.101048W) Chartered Accountants, Mumbai who retire at .&/!/,7=<,A!?,,=#E!Q/,/$#E!"//.<,A'!&#J/!%2,5$1/-!.&/<$!/E<A<P<E<.>!#,-!B<EE<,A,/77!.2!#%%/;.!235%/'!<3!$/S#;;2<,./-9!The proposal for their re-appointment is included in the notice for Annual General Meeting sent herewith.

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:&/$/! #$/! ,2! [=#E<5%#.<2,7'! $/7/$J#.<2,7! 2$! #-J/$7/!remarks made by M/s. Batliboi and Purohit, Statutory Auditors in their report for the Financial Year ended March 31, 2016.The observations and comments given in the report of the Auditors read together with notes to accounts are 7/E3S/@;E#,#.2$>! #,-! &/,%/! -2! ,2.! %#EE! 32$! #,>! 3=$.&/$!/@;E#,#.<2,!2$!%211/,.7!=,-/$!0/%.<2,!*8MC3DC<D!23!.&/!Companies Act, 2013.

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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 CS Sagar Khandelwal, Practising Company Secretary, to undertake the Secretarial Audit of the Company.

>"-'"&0'$01)5:($&*'%_)!"6*'&

There is an observation regarding the dematerialisation of shares of Promoter and Promoter Group in the Secretarial Audit Report. The Company is endeavoring to complete the dematerialisation of shares of Promoter and Promoter Group. Till date, after the initiating the process of dematerialisation of shares, the Promoter and Promoter Group have already demated 72.95% of their shareholding.

The Report of the Secretarial Audit in Form MR 3 for .&/!_<,#,%<#E!i/#$!/,-/-!"#$%&!8*'!()*+!<7!#,,/@/-!#7!?,,/@=$/!S!nYj!.2!.&/!G/;2$.9

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Details of Internal Financial Control and its adequacy are <,%E=-/-! #7! #,!?,,/@=$/! .2! .&/! ^,-/;/,-/,.!?=-<.2$7j!Report.

NOMINATION AND REMUNERATION COMMITTEE

The composition, key objectives etc. of the Nomination and Remuneration Committee is provided in Corporate Governance Report which forms part of this Annual Report.

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The Board of the Company has formed a risk management committee to frame, implement and monitor the risk management plan for the Company. The committee is responsible for reviewing the risk management plan and ensuring its effectiveness. The audit committee has additional 2J/$7<A&.!<,!.&/!#$/#!23!5,#,%<#E!$<7R7!#,-!%2,.$2E79

QX!@X!5AU)>XQC5Z)!U>@X=>CWCZCA^)BQ>!J

^,!./$17!23!7/%.<2,!*8U!#,-!0%&/-=E/!a^^!23!.&/!I21;#,</7!Act, 2013, the Board of Directors of the Company has constituted a CSR Committee. CSR Committee of the Board has developed a CSR Policy which is enclosed as ;#$.!23!.&<7!$/;2$.!?,,/@=$/!o!nXj9!?--<.<2,#EE>'!.&/!I0G!Policy has been uploaded on the website of the Company at www.tapariatools.com.

U=U!;^[)AUQV=XZX;^)`)MX!UC;=)UaQV5=;U

The particulars relating to conservation of energy, ./%&,2E2A>! #P72$;.<2,'! 32$/<A,! /@%&#,A/! /#$,<,A7! #,-!outgo as required to be disclosed under section 134(3)

15

(m) of the Companies Act, 2013 read with Companies C?%%2=,.7D!G=E/7'!()*M!#$/!A<J/,!<,!.&/!?,,/@=$/!o!nIj!and forms part of this Report.

YC;CZ)<UQV5=C><)

In pursuance to the provisions of section 177(9) & (10) 23! .&/! I21;#,</7! ?%.'! ()*8'! #! a<A<E! "/%&#,<71! 32$!directors and employees to report genuine concerns &#7! P//,! /7.#PE<7&/-9! :&/! a<A<E! "/%&#,<71! 42E<%>! &#7!been uploaded on the website of the Company at www.tapariatools.com

DISCLOSURES UNDER THE SEXUAL HARASSMENT XM) bX<U=) 5A) bX!]@Z5QU) B@!UYU=ACX=[)@!XVCWCACX=)5=/)!U/!U>>5ZJ)

^,! #%%2$-#,%/! B<.&! .&/! ;$2J<7<2,7! 23! .&/! 0/@=#E!Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the Rules made there under, the Company formulated an internal ;2E<%>!2,!0/@=#E!f#$#771/,.!#.!O2$R;E#%/!C4$/J/,.<2,'!Prohibition and Redressal) during the year under review.

The policy aims at educating employees on conduct .&#.! %2,7.<.=./7! 7/@=#E! &#$#771/,.'! B#>7! #,-! 1/#,7!to prevent occurrence of any such incident, and the mechanism for dealing with such incident in the unlikely /J/,.!23!<.7!2%%=$$/,%/9!?!0/@=#E!f#$#771/,.!I211<..//!has been constituted in accordance with the Act.

:&/! 0/@=#E! f#$#771/,.! I211<..//! <7! $/7;2,7<PE/! 32$!$/-$/77#E!23!%21;E#<,.7!$/E#./-!.2!7/@=#E!&#$#771/,.!23!women at the workplace in accordance with procedures, regulations and guidelines provided in the Policy.

During the year under review there were no complaints $/3/$$/-!.2!.&/!0/@=#E!f#$#771/,.!I211<..//9

EXTRACT OF ANNUAL RETURN

:&/! -/.#<E7! 32$1<,A! ;#$.! 23! .&/! /@.$#%.! 23! .&/! ?,,=#E!G/.=$,!23!.&/!%21;#,>!<7!#,,/@/-!&/$/B<.&!#7!?,,/@=$/!– ‘E’ to this report.

INTERIM ORDER BY SEBI

The Company has received an Interim Order from SEBI on 20/05/2015 for the Non-Compliance of the Minimum

Public Shareholding. The Audit Committee and Board of Directors are informed about the Order. Company has been legally advised that there is no violation of provisions relating to the promoters shareholding. The Company has replied to the order vide letter dated 14th October, 2015. Further proceedings are pending.

OTHER DISCLOSURES

k!! :&/$/!B/$/!,2!1#./$<#E!%&#,A/7!#,-!%211<.1/,.7!#33/%.<,A! .&/! 5,#,%<#E! ;27<.<2,! 23! >2=$! I21;#,>!P/.B//,!/,-!23! .&/!5,#,%<#E!>/#$!#,-!.&/!-#./!23!this report.

k! i2=$! I21;#,>! &#7! ,2.! <77=/-! #,>! /[=<.>! 7&#$/7!or shares with differential voting rights during the 5,#,%<#E!>/#$9

k! i2=$! I21;#,>! -<-! ,2.! <77=/! #,>! 7B/#.! /[=<.>!shares, debentures or bonds during the year.

5Q]=XbZU/;U<U=A

i2=$! Y<$/%.2$7! /@;$/77! .&/<$! 7<,%/$/! #;;$/%<#.<2,! 32$!the cooperation and assistance of Central and State Government authorities, bankers, customers, suppliers and business associates. Your Directors also wish to place on record their deep sense of appreciation for the committed services by your Company’s employees. Your Directors acknowledge with gratitude the encouragement #,-!7=;;2$.!/@./,-/-!P>!2=$!J#E=/-!7&#$/&2E-/$79

For and on behalf of the Board of Directors

V?=?)A060'$0

Mumbai, 13th August 2016Chairman &

Managing Director

16

Annexure ‘A’ To Directors’ ReportInformation required pursuant to Section 197 of the Companies Act, 2013 read with rule 5(1) of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014

A. The ratio of the remuneration of each director to the median remuneration of the employees of the company for .&/!5,#,%<#E!>/#$H

=07") Ratio

Shri H.N. Taparia 12.87 times

Shri Sivaramakrishnan 6.19 times

L2./H!"/-<#,!$/1=,/$#.<2,!23!.&/!I21;#,>!32$!#EE!<.7!/1;E2>//7!<7!G79!8'(+'MM(WS!;9#9!32$!.&/!5,#,%<#E!>/#$!()*US*+9

X9!! :&/!;/$%/,.#A/! <,%$/#7/! <,! $/1=,/$#.<2,!23!/#%&!Y<$/%.2$'!I&</3!_<,#,%<#E!F35%/$'!I21;#,>!0/%$/.#$>! <,! .&/!5,#,%<#E!>/#$H

=07") @"'-"4&0#"

Shri H.N. Taparia (Chairman and Managing Director) Nil

Shri Sivaramakrishnan (Director - Operations) 39.78%

0&$<!09G9!X#A#-!CI&</3!_<,#,%<#E!F35%/$D 20.50%

0&$<!a909!Y#./>!CI21;#,>!0/%$/.#$>D 30.76%

I9! 4/$%/,.#A/!<,%$/#7/!<,!.&/!1/-<#,!$/1=,/$#.<2,!23!#EE!/1;E2>//7!<,!.&/!5,#,%<#E!>/#$!()*US*+H!

FDET9EG FDES9ET C4-'"0%")BcJ

Median remuneration of all employees per annum Rs. 3,26,442/- Rs. 3,21,526/- 0.77%

D. Number of permanent employees on the rolls of the Company as on 31st March, 2016: 413 Nos.

V9! V@;E#,#.<2,!2,!.&/!$/E#.<2,7&<;!P/.B//,!#J/$#A/!<,%$/#7/!<,!$/1=,/$#.<2,!#,-!I21;#,>!4/$32$1#,%/H

The Income from operations of the company increased from a level of Rs. 29,755.47 Lakhs in 2014-15 to Rs.33,810 Lakhs in 2015-16 representing a growth of 13.63%. The increase in remuneration is based on the I21;#,>j7!;/$32$1#,%/!#,-!#E72! <,%E=-/7!J#$<2=7!2.&/$! 3#%.2$7! E<R/! <,-<J<-=#E!;/$32$1#,%/'!/@;/$</,%/'! 7R<EE!sets, academic background, industry trend, economic situation and future growth prospects etc. All these factors are considered appropriately for revision of remuneration.

F. Comparison of the remuneration of the Key Managerial Personnel against the performance of your Company:

The Company’s revenue has shown a growth of 13.63% however, no increase in remuneration has been given to Chairman and Managing Director. There has been an increase in the remuneration payable to Director-Operations, CFO and CS.

G. Details of Share price and market capitalization:

Market Price Per Share (`)

Earning Per Share (`)

P/E Ratio Market Capitalization (` in Lakhs)

Percent Change

March 2016 55.75 41.68 1.34 1739 42.72%

March 2015 100 32.05 3.12 3036 66.63%

17

H. Comparison of average percentage increase in salary of employees other than the key managerial personnel and the percentage increase in the key managerial remuneration:

The Company during the year under review, has made an increase in the remuneration of the Key Managerial Personnel.

I. Key parameters for the variable component of remuneration paid to the Directors:

No variable remuneration was paid to any Directors during the year.

J. The ratio of the remuneration of the highest paid director to that of the employees who are not directors but $/%/<J/!$/1=,/$#.<2,!<,!/@%/77!23!.&/!&<A&/7.!;#<-!-<$/%.2$!-=$<,A!.&/!>/#$H

! :&/$/!#$/!,2!/1;E2>//7!23!.&/!I21;#,>!B&2!$/%/<J/!$/1=,/$#.<2,!<,!/@%/77!23!.&/!&<A&/7.!;#<-!Y<$/%.2$!23!.&/!Company

c9!! ?35$1#.<2,H

! ^.! <7! &/$/P>! #35$1/-! .&#.! .&/! $/1=,/$#.<2,! ;#<-! -=$<,A! .&/! >/#$! <7! #7! ;/$! .&/! G/1=,/$#.<2,! 42E<%>! 23! .&/!Company.

18

Annexure ‘B’ To Directors’ Report

5==\5Z)!U@X!A)X=)QX!@X!5AU)>XQC5Z)!U>@X=>CWCZCA^)BQ>!J)5QACYCACU>

The Company has in place Corporate Social Responsibility Committee (CSR) pursuant to the provisions of section 135 of the Companies Act, 2013 read with Companies (Corporate Social Responsibility Policy ) Rules, 2014 the details of which are provided herein below :

1. A brief outline of the Company’s CSR policy, including overview of projects or programmes proposed to be undertaken and a reference to the web-link to the CSR policy and projects or programmes.

Pursuant to the provisions of Section 135 of the Companies Act, 2013, the Companies (Corporate Social Responsibility) Rules, 2014 and the various ,2.<5%#.<2,7W%<$%=E#$7! <77=/-! P>! .&/! "<,<7.$>! 23!Corporate Affairs, the Company has contributed an amount of Rs. 28.41 lakhs towards the corpus of various trusts (which are the implementing agency /,A#A/-! <,! #%.<J<.</7! 7;/%<5/-! <,! 0%&/-=E/! a^^!of the Companies Act, 2013). The Company has also adopted a CSR Policy in compliance with the aforesaid provisions and the same is placed on the Company’s website at www.tapariatools.com

2. Composition of CSR Committee a) Shri H.N. Taparia – Chairman b) Shri B.B. Ladda – Memberc) Shri D.P. Taparia – Member

3. ?J/$#A/! ,/.! ;$25.! 23! .&/! I21;#,>! 32$! E#7.! .&$//!5,#,%<#E!>/#$7H

Rs.1,581.5 Lakhs

4. 4$/7%$<P/-!I0G!V@;/,-<.=$/H The Company is required to spend two percent of Rs. 1,581.5 Lakhs i.e. Rs.31.63 Lakhs towards CSR.

5. Y/.#<E7!23!I0G!7;/,.!32$!.&/!5,#,%<#E!>/#$H #D! :2.#E! #12=,.! 7;/,.! 32$! .&/! 5,#,%<#E! >/#$H!Rs.28.41 Lakhs

b) Amount unspent, if any: Rs. 3.22 Lakhs

<044"')$4)d2$-2)&2")07*:4&)%6"4&)(:'$4#)&2"),404-$01)L"0')$%)("&0$1"()N"1*d.

Sr. No

Q>!)@'*e"-&)*')5-&$K$&L)C("4&$,"(

>"-&*')$4)d2$-2)&2")0-&$K$&L)$%)-*K"'"(

Z*-0&$*4%/$%&'$-&)B>&0&"J

57*:4&)X:&10L)BN:(#"&J)6'*e"-&)*')6'*#'07)wise

57*:4&)%6"4&)*4)&2")6'*e"-&%)*+)6'*#'07%

Q:7:10&$K")UO6"4($&:'"

57*:4&)>6"4(/$'"-&)*')&2'*:#2)C761"7"4&$4#)5#"4-L

(` in Lakhs)

1 Donation for empowering women and children and eradicating hunger and poverty.

Women Empowerment

Mumbai (Maharashtra)

7.00 5.00 5.00 5.00

2 Educational, Scholarship, Bridge Education, Tuition Support, Technical Education, Book Provisioning, in remote villages and also providing educational aid to Govt. Schools

Literacy Mumbai, Nashik (Maharashtra), New Delhi (Delhi)Kolkata(West Bengal)

20.00 21.10 21.10 21.10

19

3 Supporting Anti Retroviral Treatment Centres, Preventive Health Care

Preventive Health Care

Mumbai, Nashik (Maharashtra), New Delhi (Delhi)

3.52 1.31 1.31 1.31

4 Prime Minister’s National Relief Fund

Prime Minister’s National Relief Fund

-- 0.00 1.00 1.00 1.00

5 Rural Development Project

Rural Development Project

-- 1.11 0.00 0.00 0.00

* Details of the implementing agencies: Maharia Charitable Trust, Prime Minister’s National Relief Fund, Manav Seva Sansthan, "#&#$#7&.$#!0#1#p!0/J#!0#,A&'!0&$//!"#&/7&B#$<!a<->#E#>#'!L#.<2,#E!F$A9!_2$!02%<#E!V1;2B/$'!0&$<!Q=$=p<!G=A,#E#>#'!I#,%/$!?<-!& Research Foundation, MSF India N.Delhi, UNICEF, New Delhi, The Blind & Humanity Welfare Centre

+9! G/#72,!32$!,2.!7;/,-<,A!.B2!;/$%/,.!23!.&/!#J/$#A/!,/.!;$25.7!23!.&/!E#7.!.&$//!5,#,%<#E!>/#$7!2,!I0GH

Out of the total amount to be spent on CSR, the Company has spent nearly 90% of the said amount. The 1#,#A/1/,.!&#7!<-/,.<5/-!%/$.#<,!;$2p/%.7!32$!I0G!#%.<J<.</7!<,!.&/!E2%#E!#$/#7'!B&/$/<,!.&/!B2$R!&#-!#E$/#->!7.#$./-!<,!.&/!E#7.!>/#$!#,-!B<EE!P/!3=$.&/$!<,./,7<5/-!-=$<,A!.&/!%=$$/,.!>/#$9

7. A Responsibility Statement of the Corporate Social Responsibility Committee that the implementation and monitoring of CSR policy is in compliance with CSR objectives and policy of the Company:

The implementation and monitoring of CSR policy is in compliance with CSR objectives and policy of the Company.

20

5J)) QX=>U!Y5ACX=)XM)U=U!;^

i) The steps taken or impact on conservation of energy

The Company is continuously working on various projects for conservation of energy and has taken the following measures for conservation of energy :

k! G/E<,<,A!23!7#E.!P#.&!3=$,#%/7!.2!$/-=%/!E277/7!and cycle time, etc.

k! I&/%R/-!1#<,!<,%21<,A!**ca!E<,/!%#PE/'!%#PE/!joints, substation switch gears, BOCB to reduce major breakdown and losses.

ii) The steps taken by the company for utilising alternate sources of energy

! #D!! V@;E2$#.<2,! <7! A2<,A! 2,! 32$! 32EE2B<,A!alternate sources of energy :

! ! ! k! 02E#$!V,/$A>! ! ! k! O<,-!V,/$A>

b) So far, above alternate sources of energy are not economical.

iii) The capital investment on energy conservation equipments

The Company has carried out following activity for conservation of energy.

a) Relining of PT Bath - Rs. 36,300/-

PD! G/E<,<,A!23!"=3]/!_=$,#%/! - Rs. 9,000/-

Total - Rs. 45,300/-

WJ) AUQV=XZX;^)5W>X!@ACX=

i) The efforts made towards technology absorption

The company has procured and installed CNC Edge milling machine for pliers machining at Goa plant.

The company has procured Bursting Strength Testing Equipment with digital type for checking of cartons.

! V@;E2$#.<2,!<7!A2<,A!2,!32$!32EE2B<,A!/[=<;1/,.7H

k! 4E#,,<,A!.2!;$2%=$/!eE.$#72,<%!IE/#,<,A!1#%&<,/!for pliers

k! 4E#,,<,A!.2!;$2%=$/!^,-=%.<2,!&/#.<,A!1#%&<,/!for screw driver blade.

k! 4E#,,<,A! .2! ;$2%=$/! ?=.21#.<%! P2@! 7.$#;;<,A!machine

The Company has its continued participation <,! L#.<2,#E! q! ^,./$,#.<2,#E! /@&<P<.<2,7! .2!understand the modernization taking place in &#,-!.22E7!1#$R/.!#,-!.2!/@;E2$/!.&/!12-/$,!manufacturing processes.

<<D!! X/,/5.7!-/$<J/-!#7!#!$/7=E.!23!#P2J/!/332$.7

! k! X/../$!#,-!/35%</,.!1#,=3#%.=$<,A!;$2%/77/7! k! ^1;$2J/-!2J/$#EE!;$2-=%.![=#E<.>

k! "#<,.#<,/-! 1#$R/.! E/#-/$7&<;! <,! -21/7.<%!market, several tangible and intangible P/,/5.7!#$/!-/$<J/-!7=%&!#7!P/../$!%2,.$2E!2J/$!production cost, productivity and wastage and curtailment of maintenance cost.

! k! 0=7.#<,/-!P=7<,/77!<,!7;<./!23!AE2P#E!%21;/.<.<2,9

iii) Information regarding Technology Imported during last 3 years

The company has not imported any technology from outside.

<JD! :&/! /@;/,-<.=$/! <,%=$$/-! 2,! G/7/#$%&! #,-!Development

a) Capital : -

b) Recurring : Rs. 161.39 Lakhs

c) Total : Rs. 161.39 Lakhs

-D! :2.#E! G! #,-! Y! V@;/,-<.=$/!as a % of total turnover

:0.48%

ID! _2$/<A,!V@%&#,A/!/#$,<,A7!#,-!2=.A2!

! _2$/<A,!/@%&#,A/!/#$,<,A7!! H!G79!8)N9TK!6#R&7! _2$/<A,!/@%&#,A/!2=.A2!! ! H!G79!M**9+)!6#R&7

Annexure ‘C’ To Directors’ Report@0'&$-:10'%) *+) U4"'#L) Q*4%"'K0&$*4[) A"-24*1*#L) 5N%*'6&$*4) 04() M*'"$#4) UO-204#") U0'4$4#%) 04()X:&#*)@:'%:04&)A*)@'*K$%$*4%)*+)>"-&$*4)ERS)X+)A2")Q*7604$"%)5-&[)FDER)!"0()b$&2)A2")Q*7604$"%)B5--*:4&%J)!:1"%[)FDES

21

Annexure ‘D’ To Directors’ Report

SECRETARIAL AUDIT REPORTFOR THE FINANCIAL YEAR ENDED 31ST MARCH, 2016

[Pursuant to Section 204(1) of the Companies Act, 2013 and Rule No. 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014]

To,The Members,TAPARIA TOOLS LIMITED52 & 52B, MIDC Area,Nashik-422 007

I am appointed by the Board of Directors of TAPARIA TOOLS LIMITED (hereinafter called the Company) to %2,-=%.!0/%$/.#$<#E!?=-<.!2,!#!J2E=,.#$>!P#7<7!32$!.&/!5,#,%<#E!>/#$!23!.&/!I21;#,>!/,-/-!REst)<0'-2[)FDEG?

I have conducted the Secretarial Audit of the compliance of applicable statutory provisions and the adherence to good corporate practices by the Company. Secretarial Audit was conducted in a manner that provided me a reasonable P#7<7!32$!/J#E=#.<,A!.&/!%2$;2$#./!%2,-=%.7W7.#.=.2$>!%21;E<#,%/7!#,-!/@;$/77<,A!1>!2;<,<2,!.&/$/2,9!

X#7/-!2,!1>!J/$<5%#.<2,!23!.&/!P22R7'!;#;/$7'!1<,=./!P22R7'!32$17!#,-!$/.=$,7!5E/-!#,-!2.&/$!$/%2$-7!1#<,.#<,/-!P>!.&/!I21;#,>!#,-!#E72!.&/!<,32$1#.<2,!;$2J<-/-!P>!.&/!I21;#,>'!<.7!235%/$7'!#A/,.7!#,-!#=.&2$<Z/-!$/;$/7/,.#.<J/7!during the conduct of Secretarial Audit, I hereby report that in my opinion, the Company has, during the audit period ended on 31st March, 2016 complied with the statutory provisions listed hereunder and also that the Company &#7!;$2;/$!X2#$-S;$2%/77/7!#,-!%21;E<#,%/S1/%&#,<71!<,!;E#%/!.2!.&/!/@./,.'! <,!.&/!1#,,/$!#,-!7=Pp/%.!.2!.&/!reporting made hereinafter:

^!&#J/!/@#1<,/-! .&/!P22R7'!;#;/$7'!1<,=./!P22R7'! 32$17!#,-!$/.=$,7!5E/-!#,-!2.&/$! $/%2$-7!1#<,.#<,/-!P>! .&/!Company for the period ended on 31st March, 2016 according to the provisions of:

I. The Companies Act, 2013 (the Act) and the Rules made thereunder;II. The Securities Contracts (Regulation) Act, 1956 (‘SCRA’) and the Rules made thereunder;III. The Depositories Act, 1996 and the Regulations and Bye-laws framed thereunder;^a9!! :&/!32EE2B<,A!G/A=E#.<2,7!#,-!Q=<-/E<,/7!;$/7%$<P/-!=,-/$!.&/!0/%=$<.</7!#,-V@%&#,A/!X2#$-!23!^,-<#!?%.'!*TT(!

(‘SEBI Act’):-

#D! :&/!0/%=$<.</7!#,-!V@%&#,A/!X2#$-!23! ,-<#!C0=P7.#,.<#E!?%[=<7<.<2,!23!0&#$/7!#,-!:#R/2J/$7D!G/A=E#.<2,7'!()**m

PD! :&/!0/%=$<.</7!#,-!V@%&#,A/!X2#$-!23!^,-<#!C4$2&<P<.<2,!23!^,7<-/$!:$#-<,AD!G/A=E#.<2,7'!*TT(m!L2!-<7%E27=$/!<,!this regards were found on record accordingly.

%D! :&/!0/%=$<.</7!#,-!V@%&#,A/!X2#$-!23!^,-<#!C^77=/!23!I#;<.#E!#,-!Y<7%E27=$/!G/[=<$/1/,.7D!G/A=E#.<2,7'!())Tm

-D! :&/!0/%=$<.</7!#,-!V@%&#,A/!X2#$-!23!^,-<#!CG/A<7.$#$7!.2!#,!^77=/!#,-!0&#$/!:$#,73/$!?A/,.7D!G/A=E#.<2,7'!1993 regarding the Companies Act and dealing with clients

/D! :&/!0/%=$<.</7!#,-!V@%&#,A/!X2#$-!23!^,-<#!CY/E<7.<,A!23!V[=<.>!0&#$/7D!G/A=E#.<2,7'!())Tm!

3D! :&/!0/%=$<.</7!#,-!V@%&#,A/!X2#$-!23!^,-<#!CX=>P#%R!23!0/%=$<.</7D!G/A=E#.<2,7'!*TTNm

g) The Company has complied with the requirements under the Equity Listing Agreements entered into with BSE 6<1<./-'!L#.<2,#E!0.2%R!V@%&#,A/!23!^,-<#!6<1<./-m!

h) The Memorandum and Articles of Association.

aD! F.&/$!E#B7!#;;E<%#PE/!7;/%<5%#EE>!.2!.&/!I21;#,>!,#1/E>

22

1. Labour Laws

1. Factories Act, 1948 2. Industrial Disputes Act, 1947 3. The Payment of Wages Act, 1936 4. The Minimum Wages Act, 1948 5. Employees’ State Insurance Act, 1948 6. The Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 7. The Payment of Bonus Act, 1965 8. The Payment of Gratuity Act, 1972 9. The Contract Labour (Regulation & Abolition) Act, 1970! *)9! :&/!"#./$,<.>!X/,/5.!?%.'!*T+* 11. The Child Labour (Prohibition & Regulation) Act, 1986 12. The Industrial Employment (Standing Order) Act, 1946 13. The Employees’ Compensation Act, 1923 14. The Apprentices Act, 1961 15. Equal Remuneration Act, 1976

2. Environment Laws

1. Water (Prevention and Control of Pollution) Act, 1974; 2. Water (Prevention and Control of Pollution) Cess Act, 1977; 3. Air (Prevention and Control of Pollution) Act, 1981; 4. Environment (Protection) Act, 1986; 5. Hazardous Wastes (Management, Handling and Transboundary Movement) Rules, 2008.

M:'&2"')C)20K")01%*)"O07$4"()-*761$04-")d$&2)&2")0661$-0N1")-10:%"%)*+)&2")+*11*d$4#.

i) Secretarial Standards issued by The Institute of Company Secretaries of India (ICSI)

ii) The Listing Agreements entered into by the Company with the BSE Limited.

During the period under review, the Company has complied with the provisions of the Act, Rules, Regulations, Q=<-/E<,/7'! 0.#,-#$-7'! #,-! 6<7.<,A! ?A$//1/,.7! /.%9! _2EE2B<,A! <7! 1>! 2P7/$J#.<2,! 2,! 7;/%<5%! 1#../$7! 23! .&/!Company:

#D! :&/!0/%=$<.</7!#,-!V@%&#,A/!X2#$-!23!^,-<#!C0VX^D!&#7!;#77/-!#,!<,./$<1!2$-/$!,=1P/$!O:"W40W)TWI_YWMAY/2015 dated 20th May 2015 (herein after called as ‘the Order’) with reference to categorization of Promoters’ Shareholding.

! :&/!"#,#A/1/,.!&#7!$/;$/7/,./-!.&#.!.&/!4$212./$!#,-!4$212./$!A$2=;!0&#$/&2E-<,A!5E/-!B<.&!.&/!0VX^!is correct and hence no action is taken for further dilution of Promoter and Promoter group shareholding P>!.&/!I21;#,>9!:&/!I21;#,>!&#7!5E/-!#!$/;E>!.2!0VX^!2,!*M.&!F%.2P/$!()*U!#7R<,A!32$!#,!2;;2$.=,<.>!.2!present its case and no reply from SEBI was received during the period under review.

M:'&2"')$&)20%)N""4)*N%"'K"()&20&.)k! O<.&!$/3/$/,%/!.2!;2<,.!,=1P/$!(M!23!.&/!2$-/$!.&/!I21;#,>!&#7!5E/-!.&/!I21;E<#,%/!7.#.=7!$/;2$.!B<.&!.&/!

0.2%R!V@%&#,A/!<,!8!2=.!23!M![=#$./$79k! O<.&!$/3/$/,%/!.2!4$212./$7!0&#$/!f2E-<,A'!.&/!I21;#,>!%2,.<,=/7!.2!5E/!.&/!7#1/!0&#$/!f2E-<,A!4#../$,!B<.&!

the BSE as per the stand taken by the Company.

b) As on the Period of Audit, Two Investor Complaints were open and action were taken by the Company on the same.

c) During the period of Audit, 19.26% percent of Promoters’ Share Holding was dematerialised and 80.74% percent was yet to be dematerialised. The Listing agreement requires 100 percent shares of Promoter category to be dematerialised. The management has represented that the promoters had submitted the shares for dematerialisation and are in the process of dematerialisation.

23

d) The Company is in the process of adopting the Secretarial Standards issued by The Institute of Company Secretaries of India (ICSI).

/D! _2EE2B<,A!-2%=1/,.7!B/$/!5E/-!B<.&!7E<A&.!-/E#>7H!! #9!! I2$;2$#./!Q2J/$,#,%/!$/;2$.!32$!_<$7.![=#$./$!23!5,#,%<#E!>/#$!()*US*+9 b. E-form MGT-14 (Increase in Managerial remuneration of director and MGT-15 (Proceedings of Annual

General Meeting).

f) The Company had made an application to Maharashtra Pollution Control Board (MPCB) on 1st December, ()*(!32$!/@./,7<2,!23!%2,7/,.!.2!2;/$#./'!B&<%&!B#7!;/,-<,A!32$!#;;$2J#E!23!"4IX9!

g) The Factory inspection of the Company was taken by the Deputy Director, Health and Safety on 16th March 2016. The authority had given 28 recommendations and the Management has represented that the Company has initiated action on all the recommendations.

C)+:'&2"')'"6*'&)&20&.

k! :&/!X2#$-!23!Y<$/%.2$7!23! .&/!I21;#,>! <7!-=E>!%2,7.<.=./-!B<.&!;$2;/$!P#E#,%/!23!V@/%=.<J/!Y<$/%.2$7'!L2,SV@/%=.<J/!Y<$/%.2$7!#,-!^,-/;/,-/,.!Y<$/%.2$79!:&/!%&#,A/7!<,!.&/!%21;27<.<2,!23!.&/!X2#$-!23!Y<$/%.2$7!.&#.!took place during the period under review were carried out in compliance with the provisions of the Act.

k! :&/$/!B#7!,2!;$27/%=.<2,!<,<.<#./-!#,-!,2!5,/7!2$!;/,#E.</7!B/$/!<1;27/-!-=$<,A!.&/!>/#$!=,-/$!$/J</B!=,-/$!the Act, SEBI Act, SCRA, Depositories Act, Listing Agreement and Rules, Regulations and Guidelines framed =,-/$!.&/7/!?%.7!#A#<,7.!W!2,!.&/!I21;#,>'!<.7!Y<$/%.2$7!#,-!F35%/$79

k! :&/!Y<$/%.2$7!&#J/!%21;E</-!B<.&!.&/!-<7%E27=$/!$/[=<$/1/,.7!<,!$/7;/%.!23!.&/<$!/E<A<P<E<.>!23!#;;2<,.1/,.'!.&/<$!being independent and compliance with the Code of Business Conduct & Ethics for Directors and Management Personnel;

k! :&/!_V"?'!*TTT!<7!,2.!#;;E<%#PE/!.2!I21;#,>!=,-/$!.&/!$/J</B!23!#=-<.9

I further report that there are adequate systems and processes in the Company commensurate with the size and operations of the Company to monitor and ensure compliance with applicable laws, rules, regulations and guidelines.

! ^!3=$.&/$!$/;2$.!.&#.!-=$<,A!.&/!#=-<.!;/$<2-'!.&/$/!B/$/!,2!7;/%<5%!/J/,.7W#%.<2,7!<,!.&/!;=$7=#,%/!.2!.&/!#P2J/!referred laws, rules, regulations , guidelines, standards etc. having a major bearing on the company’s affairs.

Sagar R. Khandelwal

Company Secretary

(ACS 25781)

(C.P. No. 13778)

Pune

3rd August, 2016

24

Annexure To The Secretarial Audit Report

1. Maintenance of secretarial record is the responsibility of the management of the company. Our responsibility is .2!/@;$/77!#,!2;<,<2,!2,!.&/7/!7/%$/.#$<#E!$/%2$-7!P#7/-!2,!2=$!#=-<.9

2. I have followed the audit practices and processes as were appropriate to obtain reasonable assurance about .&/!%2$$/%.,/77!23!.&/!%2,./,.7!23!.&/!0/%$/.#$<#E!$/%2$-79!:&/!J/$<5%#.<2,!B#7!-2,/!2,!./7.!P#7<7!.2!/,7=$/!.&#.!%2$$/%.!3#%.7!#$/!$/]/%./-!<,!7/%$/.#$<#E!$/%2$-79!^!P/E</J/!.&#.!.&/!;$2%/77/7!#,-!;$#%.<%/7'!^!32EE2B/-!;$2J<-/!#!reasonable basis for my opinion.

89!! ^! &#J/! ,2.! J/$<5/-! .&/! %2$$/%.,/77! #,-! #;;$2;$<#./,/77! 23! 5,#,%<#E! $/%2$-7! #,-! X22R7! 23! ?%%2=,.7! 23! .&/!company.

4. Whereever required, I have obtained the Management representation about the compliance of laws, rules and regulations and happening of events etc.

5. The compliance of the provisions of Corporate and other applicable laws, rules, regulations, standards is the $/7;2,7<P<E<.>!23!1#,#A/1/,.9!">!/@#1<,#.<2,!B#7!E<1<./-!.2!.&/!J/$<5%#.<2,!23!;$2%/-=$/7!2,!./7.!P#7<79

+9!! :&/!0/%$/.#$<#E!?=-<.!$/;2$.!<7!,/<.&/$!#,!#77=$#,%/!#7!.2!.&/!3=.=$/!J<#P<E<.>!23!.&/!%21;#,>!,2$!23!.&/!/35%#%>!or effectiveness with which the management has conducted the affairs of the company.

Sagar R. Khandelwal

Company Secretary

(ACS 25781)

(C.P. No. 13778)

Pune

3rd August, 2016

25

Annexure ‘E’ to the Directors’ ReportFORM NO. MGT 9

EXTRACT OF ANNUAL RETURN

!"#$%#&%'%()'*#+,'-#,%.,.#$%#/012/13204

Pursuant to Section 92 (3) of the Companies Act, 2013 and rule 12(1) of the Company (Management & Administration) Rules, 2014.

I. REGISTRATION & OTHER DETAILS:

1 CIN L99999MH1965PLC013392

2 Registration Date 31st December 1965

3 Name of the Company Taparia Tools Limited

4 Category/Sub-category of the Company Public Company limited by shares

5 !""#$%%&'(&)*$&+$,-%)$#$"&'(./$&0&/'1)2/)&"$)2-3% 52 & 52B, MIDC Area, Trimbak Road, Nashik - 422 007

6 Whether listed company Yes

7 Name, Address & contact details of the Registrar & Transfer Agent.

“Universal Capital Securities Pvt. Ltd. 21, Shakil Niwas, Opp. Satya Sai Baba Temple, Mahakali Caves Road, Andheri (East), Mumbai – 400 093.“

II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

(All the business activities contributing 10 % or more of the total turnover of the company shall be stated)

S. No. 5'6,#'%.#7,"(-)89)$%#$:#6')%#8-$.;(9"#<#",-=)(,"

5>?#?$.,#$:#9@,#A-$.;(9<",-=)(,

B#9$#9$9'*#9;-%$=,-#$:#9@,#($68'%+

1 Company engaged in business activity of manufacturing & trading of Hand Tools

- 100

III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES

SN 5'6,#'%.#'..-,""#$:#9@,#?$68'%+ ?>5<CD5 E$*.)%F<#G;H").)'-+<#!""$()'9,

IB#$:#"@'-,"#@,*.J

I!88*)('H*,G,(9)$%J

N.A.

26

IV. SHARE HOLDING PATTERN

(Equity share capital breakup as percentage of total equity)

K)L# ?'9,F$-+MN)",#G@'-,#E$*.)%F

?'9,F$-+#$:#G@'-,@$*.,-"

5$1#$:#G@'-,"#@,*.#'9#9@,#H,F)%%)%F#$:#9@,#+,'-#

O!"#$%#0"9#!8-)*M320PQ

5$1#$:#G@'-,"#@,*.#'9#9@,#,%.#$:#9@,#+,'-#

O!"#$%#/0"9#R'-(@M3204Q B#?@'%F,#.;-)%F#9@,#+,'-

7,6'9 A@+")('* S$9'* B#$:#S$9'*#G@'-,"

7,6'9 A@+")('* S$9'* B#$:#S$9'*#G@'-,"

!1#A-$6$9,-"

(1)#>%.)'%

a) Individual/ HUF - 2,091,217 2,091,217 68.89 407659 1,683,558 2,091,217 68.89 -

b) Central Govt - - - - - - - - -

c) State Govt(s) - - - - - - - - -

d) Bodies Corporate - 25,300 25,300 0.83 - 25,300 25,300 0.83 -

e) Banks / FI - - - - - - - - -

f) Any other - - - - - - - - -

G;H#S$9'*#K!L#K0L - 2,116,517 2,116,517 69.72 407659 1,708,858 2,116,517 69.72 -

(2) T$-,)F%

a) NRI Individuals - - - - - - - - -

b) Other Individuals - - - - - - - - -

c) Bodies Corporate - - - - - - - - -

d) Any other - - - - - - - - -

G;H#S$9'*#K!L#K3L - - - - - - - - -

SUS!D#K!L 0.00 2,116,517 2,116,517 69.72 407,659 1,708,858 2,116,517 69.72 0.00

V1#A;H*)(#G@'-,@$*.)%F

01#>%"9)9;9)$%"

a) Mutual Funds - - - - - - - - -

b) Banks / FI - - - - - - - - -

c) Central Govt - - - - - - - - -

d) State Govt(s) - - - - - - - - -

e) Venture Capital Funds - - - - - - - - -

- - - - - - - - -

f) Insurance Companies - - - - - - - - -

g) FIIs - - - - - - - - -

h) Foreign Venture Capital Funds - - - - - - - - -

- - - - - - - - -

i) Others (specify) - - - - - - - - -

G;HM9$9'*#KVLK0LWM - - - - - - - - -

31#5$%M>%"9)9;9)$%"

a) Bodies Corporate

i) Indian - 397,675 397,675 13.10 351,175 351,175 11.57 11.69

ii) Overseas - - - - - - - - -

b) Individuals

ii) Individual shareholders holding nominal share capital up to ` 1 lakh

80 41,298 41,378 1.36 9228 67844 77,072 2.54 86.26

ii) Individual shareholders holding nominal share capital in excess of ` 1 lakh

- 407,134 407,134 13.41 37850 380090 417,940 13.77 2.65

27

c) Others (specify) - - - - - - - - -

Non Resident Indians - - - - - - - - -

Overseas Corporate Bodies - - - - - - - - -

Foreign Nationals - - - - - - - - -

Clearing Members - - - - - - - - -

Trusts 20 20 0.00 - 20 20 0.00 0.00

Directors & Relatives 56526 56,526 1.86 - 56526 56,526 1.86 0.00

Foreign Bodies - D R 16500 16,500 0.54 - 16500 16,500 0.54 0.00

G;HM9$9'*#KVLK3LWM 80 919,153 919,233 30.28 47,078 872,155 919,233 30.28 0.00

S$9'*#A;H*)(#KVL 80 919,153 919,233 30.28 47,078 872,155 919,233 30.28 0.00

?1#G@'-,"#@,*.#H+#?;"9$.)'%#:$-#C7X"#Y#!7X"

- - - - - - - - -

C-'%.#S$9'*#K!ZVZ?L 80 3,035,670 3,035,750 100 454,737 2,581,013 3,035,750 100 0.00

K))L# G@'-,@$*.)%F#$:#A-$6$9,-

SN G@'-,@$*.,-["#5'6, G@'-,@$*.)%F#'9#9@,#H,F)%%)%F#$:#9@,#+,'- G@'-,@$*.)%F#'9#9@,#,%.#$:#9@,#+,'- B#(@'%F,#)%#"@'-,@$*.)%F#.;-)%F#9@,#+,'-

5$1#$:#G@'-,"

B#$:#9$9'*#G@'-,"#$:#9@,#($68'%+

B#$:#G@'-,"#A*,.F,.<#,%(;6H,-,.#9$#9$9'*#"@'-,"

5$1#$:#G@'-,"

B#$:#9$9'*#G@'-,"#$:#9@,#($68'%+

B#$:#G@'-,"#A*,.F,.#<#,%(;6H,-,.#9$#9$9'*#"@'-,"

1 SHRI HARNARAYAN TAPARIA 364,650 12.01 NIL 364,650 12.01 NIL -

2 HARNARAYAN TAPARIA (HUF) 133,129 4.39 NIL 133,129 4.39 NIL -

3 SHRI DEVI PRASAD TAPARIA 101,699 3.35 NIL 101,699 3.35 NIL -

4 DEVI PRASAD TAPARIA (HUF) 80,958 2.67 NIL 80,958 2.67 NIL -

5 SHRI JAYA KRISHNA TAPARIA 147,476 4.86 NIL 147,476 4.86 NIL -

6 JAYA KRISHNA TAPARIA (HUF) 66,042 2.18 NIL 66,042 2.18 NIL -

7 SHRI MADHAV PRASAD TAPARIA 143,565 4.73 NIL 143,565 4.73 NIL -

8 MADHAV PRASAD TAPARIA (HUF) 115,969 3.82 NIL 115,969 3.82 NIL -

9 MRS. BHAGWATI BINANI 55 0.00 NIL 55 0.00 NIL -

10 SHRI BHARAT TAPARIA 133,194 4.39 NIL 133,194 4.39 NIL -

11 BHARATKUMAR TAPARIA (HUF) 10,718 0.35 NIL 10,718 0.35 NIL -

12 MRS. HARSHA MUNDHRA 50,000 1.65 NIL 50,000 1.65 NIL -

13 MRS. KUSUM DEVI TAPARIA 146,848 4.84 NIL 146,848 4.84 NIL -

14 MRS. PREMA DEVI TAPARIA 126,989 4.18 NIL 126,989 4.18 NIL -

15 MRS. RAJDULARI DEVI TAPARIA 181057 5.96 NIL 181057 5.96 NIL -

16 MRS. SHASHIDEVI BANGUR 69271 2.28 NIL 69271 2.28 NIL -

17 MRS. SUDHA DEVI TAPARIA 103799 3.42 NIL 103799 3.42 NIL -

18 SHRI SUSHIL KUMAR TAPARIA 71799 2.37 NIL 71799 2.37 NIL -

19 SUSHIL KUMAR TAPARIA (HUF) 43999 1.45 NIL 43999 1.45 NIL -

20 OM SHRI YOGESHWAR MFG.& TRADING CO. 25300 0.83 NIL 25300 0.83 NIL -

K)))L#?@'%F,#)%#A-$6$9,-"[#G@'-,@$*.)%F

SN A'-9)(;*'-" 7'9, X,'"$% G@'-,@$*.)%F#'9#9@,#H,F)%%)%F#$:#9@,#+,'-

?;6;*'9)=,#G@'-,@$*.)%F#.;-)%F#9@,#+,'-

5$1#$:#"@'-," B#$:#9$9'*#"@'-,"

5$1#$:#"@'-," B#$:#9$9'*#"@'-,"

At the beginning of the year No changes in Promoters shareholding during the year

Changes during the year No changes in Promoters shareholding during the year

At the end of the year No changes in Promoters shareholding during the year

28

K)=L#G@'-,@$*.)%F#A'99,-%#$:#9$8#9,%#G@'-,@$*.,-"

(Other than Directors, Promoters and Holders of GDRs and ADRs):

SN T$-#,'(@#$:#9@,#S$8#02#"@'-,@$*.,-"

7'9, X,'"$% G@'-,@$*.)%F#'9#9@,#H,F)%%)%F#$:#9@,#+,'-

?;6;*'9)=,#G@'-,@$*.)%F#.;-)%F#9@,#+,'-

5$1#$:#"@'-,"

B#$:#9$9'*#"@'-,"

5$1#$:#"@'-,"

B#$:#9$9'*#"@'-,"

1 VEER ENTERPRISES

At the beginning of the year 274,288 9.04 274,288 9.04

Changes during the year - 0.00 - 0.00

At the end of the year 274,288 9.04 274,288 9.04

2 MRS. SHREEKANTA DEVI TAPARIA




3 SHRI ANANT TAPARIA




4 SHRI SHREE KUMAR BANGUR




5 SHRI SAURABH BANGUR




6 ABHIMANYU MUNDHRA-MINOR THROUGH GUARDIAN




7 SHREE SATYANARAYAN INVESTMENTS CO.




8 ARYAMAN TAPARIA-MINOR THROUGH GUARDIAN

At the beginning of the year 35,277 1.16% 35,277 1.16%

Changes during the year - 0.00% - 0.00%

At the end of the year 35,277 1.16% 35,277 1.16%

9 SHRI SATISH KUMAR MUNDHRA




10 MRS. SUNITA KABRA

At the beginning of the year - 0.00 - 0.00

Changes during the year Transfer 37,850 1.25 37,850 1.25


29

K=L# G@'-,@$*.)%F#$:#7)-,(9$-"#'%.#\,+#R'%'F,-)'*#A,-"$%%,*W

SN G@'-,@$*.)%F#$:#,'(@#7)-,(9$-"#'%.#,'(@#\,+#R'%'F,-)'*#A,-"$%%,*

7'9, X,'"$% G@'-,@$*.)%F#'9#9@,#H,F)%%)%F#$:#9@,#+,'-

?;6;*'9)=,#G@'-,@$*.)%F#.;-)%F#9@,#+,'-

5$1#$:#"@'-,"

B#$:#9$9'*#"@'-,"

5$1#$:#"@'-,"

B#$:#9$9'*#"@'-,"

1 SHRI HARNARAYAN TAPARIA, LIMITED, CHAIRMAN & MD.




2 SHRI DEVI PRASAD TAPARIA, NON-EXECUTIVE DIRECTOR




3 SHRI JAYA KRISHNA TAPARIA, NON-EXECUTIVE DIRECTOR




4 SHRI MADHAV PRASAD TAPARIA,NON-EXECUTIVE DIRECTOR




5 SHRI VIRENDRAA BANGUR, NON-EXECUTIVE DIRECTOR




6 SHRI SIVARAMAKRISHNAN, DIRECTOR-OPERATIONS

At the beginning of the year NIL NIL NIL NIL

Changes during the year NIL NIL NIL NIL

At the end of the year NIL NIL NIL NIL

7 SHRI S.R. BAGAD, CHIEF FINANCIAL OFFICER




8 SHRI V.S. DATEY, COMPANY SECRETARY




V. INDEBTEDNESS

Indebtedness of the Company including interest outstanding/accrued but not due for payment.

(` in Lakhs)A'-9)(;*'-" G,(;-,.#D$'%"#

,](*;.)%F#.,8$")9"^%",(;-,.#D$'%" 7,8$")9" S$9'*#

>%.,H9,.%,""

>%.,H9,.%,""#'9#9@,H,F)%%)%F#$:#9@,#&%'%()'*#+,'-

i) Principal Amount -

ii) Interest due but not paid -

iii) Interest accrued but not due -

S$9'*#K)Z))Z)))L - - - -

?@'%F,#)%#>%.,H9,.%,"".;-)%F#9@,#&%'%()'*#+,'-

* Addition -

* Reduction -

5,9#?@'%F, - - - -

>%.,H9,.%,""#'9#9@,#,%.$:#9@,#&%'%()'*#+,'-

i) Principal Amount -

ii) Interest due but not paid -

iii) Interest accrued but not due -

S$9'*#K)Z))Z)))L - - - -

30

_>1# X`R^5`X!S>U5#UT#7>X`?SUXG#!57#\`a#R!5!C`X>!D#A`XGU55`D

!1# X,6;%,-'9)$%#9$#R'%'F)%F#7)-,(9$-b#c@$*,M9)6,#7)-,(9$-"#'%.<$-#R'%'F,-W

SN. A'-9)(;*'-"#$:#X,6;%,-'9)$% 5'6,#$:#R7<cS7<#R'%'F,- S$9'*#!6$;%9

5'6, G@-)#E151#S'8'-)' G@-)#G)='-'6'd-)"@%'%

(`#>%#D'd@"L

7,")F%'9)$% ?@')-6'%#'%.#R'%'F)%F#7)-,(9$-

7)-,(9$-#M#U8,-'9)$%"

1 Gross salary

(a) Salary as per provisions contained in section 17(1) of the Income-tax Act, 1961

42.00 16.17 58.17

(b) Value of perquisites u/s 17(2) Income-tax Act, 1961

- 1.96 1.96

4/5& 6#'.)%& -1& 3-$7& '(& %232#8& 71"$#& %$/)-'1&17(3) Income- tax Act, 1961

- - -

- -

2 Stock Option - - -

3 Sweat Equity - - -

4 Commission -

9&&2%&:&'(&;#'.) - - -

- others, specify - - -

5 Others, please specify - - -

Total (A) 42.00 18.13 60.13

Ceiling as per the Act 4<$-1,&=>:&'(&1$)&6#'.)&2%&?'#@$"&'7)&2%per section 198 of the Companies Act, 2013)

126.52

V1# X,6;%,-'9)$%#9$#$9@,-#7)-,(9$-" (`#>%#D'd@"LSN. A'-9)(;*'-"#$:#X,6;%,-'9)$% 5'6,#$:#7)-,(9$-" S$9'*#

!6$;%9G@-)#A151#G@'@

G@-)#V1V1#D'..'

G@-)#C1G1#R'%'"'N'*'

G@-)#X'e,,=#f1#R;%.-'

G@-)#G@+'6#R'*8'%)

?!#V@'=%'#G@'6.'"'%)

1 Independent Directors

Fee for attending board committee meetings

0.75 0.40 0.75 0.35 0.50 0.45 3.20

Commission - - - - - - -

Others, please specify - - - - - - -

Total (1) 0.75 0.40 0.75 0.35 0.50 0.45 3.20

2 Other Non-Executive Directors

Shri J.K. Taparia

Shri D.P. Taparia

Shri M.P. Taparia

Shri Virendraa Bangur

-

Fee for attending board committee meetings

0.40 0.50 0.40 0.10 1.40

Commission - - - - - - -

Others, please specify - - - - - - -

Total (2) 0.40 0.50 0.40 0.10 1.40

Total (B)=(1+2) 4.60

Total Managerial Remuneration

64.73

Overall Ceiling as per the Act 4<$-1,&=>:&'(&1$)&6#'.)&2%&?'#@$"&'7)&2%&&;$#&%$/)-'1&=AB&'(&)*$&Companies Act, 2013)

139.17Overall Ceiling as per the Act 4<$-1,&=>:&'(&1$)&6#'.)&2%&?'#@$"&'7)&2%&&;$#&%$/)-'1&=AB&'(&)*$&C'D;21-$%&!/)E&F>=G5

Ceiling as per the Act 4<$-1,&=>:&'(&1$)&6#'.)&2%&?'#@$"&'7)&2%&;$#&section 198 of the Companies Act, 2013)

31

?1# X,6;%,-'9)$%#9$#\,+#R'%'F,-)'*#A,-"$%%,*#$9@,-#9@'%#R7<R'%'F,-<cS7

SN. A'-9)(;*'-"#$:#X,6;%,-'9)$% 5'6,#$:#\,+#R'%'F,-)'*#A,-"$%%,* S$9'*#!6$;%9

5'6, G@-)#G1X1#V'F'. G@-)#_1G1#7'9,+ (`#>%#D'd@"L

7,")F%'9)$% CFO CS

1 Gross salary

(a) Salary as per provisions contained in section 17(1) of the Income-tax Act, 1961

8.10 1.56 9.66

(b) Value of perquisites u/s 17(2) Income-tax Act, 1961

1.13 0.48 1.61

4/5&6#'.)%&-1&3-$7&'(&%232#8&71"$#&%$/)-'1&=H4G5&Income- tax Act, 1961

- - -

2 Stock Option - - -

3 Sweat Equity - - -

4 Commission - - -

9&&2%&:&'(&;#'.) - - -

- others, specify - - -

5 Others, please specify - - -

Total 9.23 2.04 11.27

_>>1#A`5!DS>`G#<#A^5>GER`5S<#?URAU^57>5C#UT#UTT`5?`GW

S+8, G,(9)$%#$:#9@,#

?$68'%),"#!(9

V-),:#7,"(-)89)$% 7,9')*"#$:#A,%'*9+#<#A;%)"@6,%9<#?$68$;%.)%F#:,,"#)68$",.

!;9@$-)9+#OX7#<#5?DS<#?U^XSQ

!88,'*#6'.,b#):#'%+#KF)=,#7,9')*"L

A. COMPANY

Penalty

Punishment Nil

Compounding

B. DIRECTORS

Penalty

Punishment Nil

Compounding

C. OTHER OFFICERS IN DEFAULT

Penalty

Punishment Nil

Compounding

32

Management And Discussion Analysis

ECONOMIC SCENARIO

Indian economic growth rose to a credible high of 7.5% in the year as compared to 5.2% last year as a result of various factors that proved to be conducive for the development. The macroeconomic condition is stable; consumer !"#$%&#'()*#+'&#,&-%..&/'0%"&$+'*"+.&)'0&*1%&-1+.%,).%&!"#$%&#'()*#+'&#,&#'&'%2)*#3%&*%""#*+"45

63%'&),&*1%&%$+'+74&1),&7)0%&!"+2"%,,8&*1#,&1),&4%*&*+&,1+-&)&!+,#*#3%&#7!)$*&+'&,#2'#9$)'*&0%7)'0&"%3#3).&)'0&improved corporate earnings. There have been four interest rate cuts by the Reserve Bank of India; and thanks to historically low prices of crude oil, minerals and metals, input costs have reduced with the balance of payment situation :%#'2&:%**%"&*1)'&#*&1),&:%%'&#'&*1%&.),*&93%&4%)",5&;-+&$+',%$/*#3%&-%)<&7+',++'&,%),+',&)'0&0"+/21*&,#*/)*#+'&#'&many states in the year 2015-16 along with stalled reforms due to political discord remain concerns. Similar concerns "%(%$*&="+7&*1%&"%.)*#3%.4&7+0%,*&!)$%&+=&#'="),*"/$*/"%&2"+-*15&>+-%3%"8&*1%&.)*%,*&%,*#7)*%,&+=&*1%&?%'*").&@*)*#,*#$).&Organization suggest that growth of India’s Gross Value Added will not only be higher than the previous year’s but also the best among large emerging economies. The long term prospects for the economy are optimistic.

OPPORTUNITIES AND THREATS

Opportunities:

“Taparia Tools Ltd.” owing to the long term standing in the market and its favourability among the customers, $+'*#'/%,&*+&,%%<&3)"#%0&)'0&%A*%',#3%&+!!+"*/'#*#%,&=+"&*1%&?+7!)'45&B,&*1%&?+7!)'4&$+'*#'/%,&*1%&#'*"+0/$*#+'&+=&new products and sets its foot in various market segments like New Replacement Markets as well as in retail markets, *1%&?+7!)'4&,*"#3%,&*+&)$1#%3%&'%-&)3%'/%,&+=&2"+-*1&)'0&0%3%.+!7%'*5;1%&?+7!)'4&-#..&%A!.+"%&*1%&!+*%'*#).,&+=&'%-&!"+0/$*,&#'&*1%&!"%,%'*&,%27%'*5&;1#,&1),&!"+3%0&:%'%9$#).&0/"#'2&the recession period which is very good sign for the company.

Threats:

The ever growing and ever changing market conditions, paves way for new entrants in the market, predominantly from overseas. This leads to increasing competition for the organisation, thereby increasing the pressure on the ?+7!)'45

Two consecutive weak monsoon and drought situations in many states has adversely affected and impacted the #'0/,*"4&),&-%..&),&*1%&+"2)'#,)*#+'5&;1%&?+7!)'4&1),&:%%'&7)<#'2&"%2/.)"&)**%7!*,&*+&,1#%.0&)'4&'%2)*#3%&#7!)$*,&resulting from these concerns.

C/!.#$)*%&!"+0/$*,&/'0%"&*1%&?+7!)'4&:")'0&$+'*#'/%,&*+&:%&)&!"+:.%7&1)7!%"#'2&*1%&+!%")*#+',&)'0&!"+9*,&+=&*1%&?+7!)'45

Risk Management

;1%&?+7!)'4&=+..+-,&)&$+',%"3)*#3%&D#,<&E)')2%7%'*&!+.#$45&F1#.,*&*1%&:"+)0&=")7%-+"<&+=&*1%&D#,<&"%7)#',&7+"%&+"&.%,,&,)7%8&*1%&!"#+"#*#%,&0+&$1)'2%&#'&.#'%&-#*1&*1%&$1)'2#'2&:/,#'%,,&!"+9.%8&%$+'+7#$&,$%')"#+&%*$5&;1%&:/,#'%,,&!"+9.%&+=&*1%&?+7!)'4&#,&%3+.3#'2&#'&.#'%&-#*1&$/""%'*&7)"<%*&*"%'0,&)'0&$+'0#*#+',5&

STRATEGY:

B,,/"#'2&)'0&0%.#3%"#'2& *1%&:%,*&G/).#*4&+=&!"+0/$*,& *+& *1%&$/,*+7%",&1),&).-)4,&:%%'&)&!"#+"#*45&;1%&?+"!+")*%&Quality Assurance system has brought about a steep improvement in quality as it integrated the divisional quality assurance systems which had been in existence and delivering value to the customers.

;1%&?+7!)'4H,&:/,#'%,,&,*")*%24&#,&*+&#7!"+3%&#*,&$/,*+7%"H,&:/,#'%,,&!%"=+"7)'$%I

1. By being the partner providing the greatest value.2. Based upon world-class technology, product application expertise and excellence in customer service.

33

OPERATIONAL AND FINANCIAL PERFORMANCE

;1%& ?+7!)'4H,& -+"<#'2& 0/"#'2& *1%& 4%)"& #,& ,)*#,=)$*+"45& ;1%& ?+7!)'4H,& *+*).& "%3%'/%& JK%*& +=& %A$#,%& 0/*4L& -),&Rs.33,810.72 Lakhs that represents an increase of 13.63% over the sales of Rs.29,755.47 Lakhs in the previous year. M"+9*&%)"'%0&)=*%"&*)A&#,&D,5N8OPQ5OR&S)<1,&#'&*1%&$/""%'*&4%)"&"%!"%,%'*#'2&)'&#'$"%),%&+=&TR5RTU&)2)#',*&D,5&VWO5VV&Lakhs in the previous year.

B..&*1%&%==+"*,&!/*&#'&:4&*1%&E)')2%7%'*&1)3%&.%0&*+&)&3%"4&,*):.%&)'0&$+'0/$#3%&-+"<&%'3#"+'7%'*&#'&*1%&?+7!)'4&and paves way for the future growth. The Board acknowledges strong commitment and on-the-ground efforts of all the employees towards the growth of the organisation.

OUTLOOK

;1%&+3%")..& ,*")*%2#$&+/*.++<&+=& *1%&?+7!)'4& "%7)#',& =+$/,%0&/!+'&!/",/#'2&2"+-*1&:),%0&+'& #*,&!1#.+,+!14&+=&2%'%")*#'2&!"+9*,&*1"+/21&$"%)*#+'&+=&*1%&XY"%)*%,*&Z)./%[&=+"&#*,&$/,*+7%",5&\'&*%"7,&+=&7)"<%*&$+'0#*#+',8&\'0#)&#,&)*&)'&#'(%$*#+'&!+#'*8&-#*1&#*,&7%*).,&)'0&%'%"24&0%7)'0&!+#,%0&*+&%A!.+0%&),&#*,&YCM&!+*%'*#)..4&0+/:.%,&+3%"&*1%&next decade. Taparia Tools Limited as a responsible corporation is well-positioned to explore the opportunities that $+7%&-#*1&*1%&0%3%.+!#'2&%$+'+7#$&$+'0#*#+',5&;1%&?+7!)'4&1),&"%3#%-%0&#*,&,*")*%2#$&+:]%$*#3%,&)'0&#,&2%)"%0&*+&0%3%.+!&#''+3)*#3%&,+./*#+',&=+"&#*,&$/,*+7%",5&;1%&?+7!)'4&).,+&,%%<,&*+&$+'*#'/%&1)3#'2&#*,&=+$/,&+'&,*")*%2#$&growth initiatives for business expansion and sector penetration.

INTERNAL CONTROL SYSTEM AND THEIR ADEQUACY:

;1%&?+7!)'4&1),& #'&!.)$%&\'*%"').&^#')'$#).&?+'*"+.&@4,*%7,8&$+77%',/")*%&-#*1&*1%&,#_%&)'0&$+7!.%A#*4&+=& #*,&+!%")*#+',&*+&%',/"%&!"+!%"&"%$+"0#'2&+=&9')'$#).&)'0&+!%")*#+').&#'=+"7)*#+'&$+7!.#)'$%&+=&3)"#+/,&#'*%"').&$+'*"+.,&and other regulatory and statutory compliance. During the year under review, no material or serious observation has :%%'&"%$%#3%0&="+7&*1%&\'*%"').&B/0#*+",&+=&*1%&?+7!)'4&=+"&#'%=9$#%'$4&+"&#')0%G/)$4&+=&,/$1&$+'*"+.,5

E)')2%7%'*&1),&!/*&#'&!.)$%&%==%$*#3%&\'*%"').&?+'*"+.&@4,*%7,&*+&!"+3#0%&"%),+'):.%&),,/")'$%&=+"I&

`& @)=%2/)"0#'2&B,,%*,&)'0&*1%#"&/,)2%5

`& M"+7+*#'2&+!%")*#+').&%=9$#%'$45

`& 6',/"#'2&$+7!.#)'$%&-#*1&3)"#+/,&.%2).&)'0&"%2/.)*+"4&!"+3#,#+',5

`& 6',/"#'2& "%.#):#.#*4& +=& 9')'$#).& )'0& +*1%"& "%$+"0,& =+"& !"%!)"#'2& 9')'$#).& #'=+"7)*#+'& )'0& =+"& 7)#'*)#'#'2&accountability of assets.

`& E)#'*%')'$%&+=&M"+!%"&B$$+/'*#'2&D%$+"0,&)'0

`& B0%G/)$4&)'0&D%.#):#.#*4&+=&*1%&#'=+"7)*#+'&/,%0&=+"&$)""4#'2&+'&a/,#'%,,&b!%")*#+',5

Key elements of the Internal Control Systems are as follows:

JNL& 6A#,*%'$%&+=&B/*1+"#*4&E)'/).,&)'0&!%"#+0#$).&/!0)*#'2&+=&*1%&,)7%&=+"&)..&^/'$*#+',5

JOL& 6A#,*%'$%&+=&$.%)".4&0%9'%0&+"2)'#_)*#+').&,*"/$*/"%&)'0&)/*1+"#*45

JTL& 6A#,*%'$%&+=&$+"!+")*%&!+.#$#%,&=+"&^#')'$#).&D%!+"*#'2&)'0&B$$+/'*#'25

JcL& 6A#,*%'$%&+=&E)')2%7%'*&#'=+"7)*#+'&,4,*%7&/!0)*%0&="+7&*#7%&*+&*#7%&),&7)4&:%&"%G/#"%05

JQL& 6A#,*%'$%&+=&B''/).&a/02%*,&)'0&S+'2&;%"7&a/,#'%,,&M.)',5

JPL& 6A#,*%'$%&+=&\'*%"').&B/0#*&@4,*%75

;1%&B/0#*&?+77#**%%& #,& "%2/.)".4& "%3#%-#'2& *1%& \'*%"').&B/0#*&D%!+"*,& =+"& *1%&)/0#*#'2&$)""#%0&+/*& #'&)..& *1%&<%4&)"%),&+=& *1%&+!%")*#+',5&B00#*#+')..4& *1%&B/0#*&?+77#**%%&)!!"+3%,&)..& *1%&)/0#*&!.)',&)'0&"%!+"*,& =+"&,#2'#9$)'*&issues raised by the Internal and External Auditors. Regular reports on the business development, future plans and !"+]%$*#+',&)"%&2#3%'&*+&*1%&a+)"0&+=&C#"%$*+",5&\'*%"').&B/0#*&D%!+"*,&)"%&"%2/.)".4&$#"$/.)*%0&=+"&!%"/,).&+=&@%'#+"&Management for appropriate action as required.

34

HUMAN RESOURCES:

The management has always carried out systematic appraisal of performance and imparted training at periodic intervals. ;1%&$+7!)'4&1),&).-)4,&"%$+2'#_%0&*).%'*&)'0&1),&]/0#$#+/,.4&=+..+-%0&*1%&!"#'$#!.%&+=&"%-)"0#'2&!%"=+"7)'$%5&;1%&,/$$%,,&+=&*1%&?+7!)'4&)'0&2++0&*")$<&"%$+"0&)"%&.)"2%.4&)**"#:/*):.%&*+&*1%&"%7)"<):.%&$+77#*7%'*8&0%0#$)*#+'&)'0&1)"0&-+"<&+=&*1%&%7!.+4%%,5&;1%&?+7!)'4&1),&,*"+'2.4&%7:%00%0&$+"%&3)./%,&)'0&)..&%7!.+4%%,&)"%&*")#'%0&)'0&encouraged to use these values in their daily operations and the bases for making decisions.

;1%&?+7!)'4& $+'*#'/%0& *1%&-%.=)"%& )$*#3#*#%,& =+"& *1%& %7!.+4%%,8&-1#$1& #'$./0%&E%0#$).& ?)"%8&Y"+/!& \',/")'$%8&?)'*%%'&=)$#.#*48&%*$5&;+&%'"#$1&*1%&,<#..,&+=&%7!.+4%%,&)'0&%'"#$1&*1%#"&%A!%"#%'$%8&*1%&?+7!)'4&)"")'2%,&M")$*#$).&;")#'#'2&?+/",%,&:4&\'*%"').&)'0&6A*%"').&^)$/.*45

;1%&?+7!)'4&1),&2++0&$+"0#).&"%.)*#+'&-#*1&*")0%&/'#+'&)'0&%7!.+4%%,&"%!"%,%'*)*#3%,&)'0&3#%-,&*1%,%&"%.)*#+',1#!,&as contributing positively to the success of the business.

CONCLUSION:

;1%&?+7!)'4&1),&!+,*%0&:%**%"&"%,/.*,&#'&*1%&4%)"&ORNQdORNP8&*1%&%$+'+74&:%#'2&$+'0/$#3%&)'0&=)3+"):.%&*+&*1%&#'0/,*"45&;1%&?+7!)'4&#,&$+'$%'*")*#'2&*+&)$1#%3%&1#21%"&!+,#*#+'&#'&*1%&>)'0&;++.,&E)"<%*&)'0&7/.*#!.4&#*,&*/"'+3%"&:4&%A!)'0#'2&#*,&)"%)&+=&+!%")*#+'5&;1%&?+7!)'4&1),&!.)',&=+"&7)<#'2&#'3%,*7%'*&#'&*1%&>)'0&;++.,&:/,#'%,,&*+&further consolidate its leadership position.

CAUTIONARY STATEMENT@*)*%7%'*,&#'&*1%&E)')2%7%'*&C#,$/,,#+'&)'0&B').4,#,&0%,$"#:#'2&*1%&?+7!)'4H,&+:]%$*#3%,8&!"+]%$*#+',8&%,*#7)*%,8&expectations and predictions may be “forward-looking statements” within the meaning of applicable securities law and regulations. Actual results could differ materially from those expressed or implied, important factors that could 7)<%&0#==%"%'$%&*+&*1%&?+7!)'4H,&+!%")*#+',&#'$./0%&")-&7)*%"#).&)3)#.):#.#*4&)'0&!"#$%,8&$4$.#$).&0%7)'0&)'0&!"#$#'2&#'&*1%&?+7!)'4H,&!"#'$#!).&7)"<%*,8&$1)'2%,&#'&*1%&Y+3%"'7%'*&"%2/.)*#+',8&*)A&"%2#7%,8&%$+'+7#$&0%3%.+!7%'*,&-#*1#'&\'0#)&)'0&$+/'*"#%,&#'&-1#$1&*1%&?+7!)'4&$+'0/$*,&:/,#'%,,&)'0&+*1%"&#'$#0%'*).&=)$*+",5

35

Report on Corporate Governance for the Financial Year 2015-20161. COMPANY’S PHILOSOPHY ON THE CODE OF GOVERNANCE

& B*&;)!)"#)&;++.,8&?+"!+")*%&Y+3%"')'$%&1),&:%%'&)'&#'*%2").&!)"*&+=&*1%&-)4&-%&1)3%&:%%'&0+#'2&+/"&:/,#'%,,&,#'$%&#'$%!*#+'5&;1%&:),%&+=&?+"!+")*%&Y+3%"')'$%&#,&:/#.*&-1%'&,+/'0&7)')2%7%'*&!")$*#$%,&)"%&$+/!.%0&-#*1&the laws and the same are adhered to the standards of transparency and business ethics. These main drivers, *+2%*1%"&-#*1& *1%&?+7!)'4H,&+'2+#'2&$+'*"#:/*#+',& *+& *1%& .+$).&$+77/'#*#%,& *1"+/21&7%)'#'2=/.& X?+"!+")*%&@+$#).&D%,!+',#:#.#*4[&#'#*#)*#3%,&-#..&!.)4&)&!#3+*).&"+.%&#'&=/.9..#'2&+/"&"%'%-%0&3#,#+'&*+&:%&*1%&7+,*&,/,*)#'):.%&and competitive company in our industry and also aid our mission to create value for all our stakeholders.

& ;1%&?+7!)'4&!.)$%,&2"%)*&%7!1),#,&+'&3)./%,&,/$1&),&%7!+-%"7%'*&)'0&#'*%2"#*4&+=&#*,&%7!.+4%%,8&,)=%*4&+=&the employees & communities surrounding our plants, transparency in decision making process, fair & ethical dealings with all, pollution free clean environment and last but not the least, accountability to all the stakeholders. ;1%,%&!")$*#$%,&:%#'2&=+..+-%0&,#'$%&*1%&#'$%!*#+'&1)3%&$+'*"#:/*%0&*+&*1%&?+7!)'4H,&,/,*)#'%0&2"+-*15

2. BOARD OF DIRECTORS

Board Composition

& B,&+'&TN,*&E)"$18&ORNP8&*1%&?+7!)'4&1)0&NO&C#"%$*+",&+=&-1#$1&O&)"%&6A%$/*#3%&C#"%$*+",&)'0&c&)"%&K+'d6A%$/*#3%&and 6 are Independent Directors including a woman director who was appointed as additional director in the $)*%2+"4&+=&#'0%!%'0%'*&0#"%$*+"5&;1%&$+7!+,#*#+'&+=&*1%&a+)"0&#,&#'&$+'=+"7#*4&-#*1&@6a\&JS#,*#'2&b:.#2)*#+',&)'0&C#,$.+,/"%&D%G/#"%7%'*,L&D%2/.)*#+',8&ORNQ5

& @1"#&@14)7&E).!)'#8& \'0%!%'0%'*&C#"%$*+"&+=& *1%&?+7!)'4&1),& "%,#2'%0& ="+7&*1%&a+)"0&+=&C#"%$*+",&+=& *1%&?+7!)'4&-#*1&%==%$*&="+7&N,*&B/2/,*8&ORNP5&;1%&a+)"0&-#,1%,&*+&!.)$%&+'&"%$+"0&#*,&)!!"%$#)*#+'&=+"&*1%&3)./):.%&$+'*"#:/*#+'&7)0%&:4&1#7&0/"#'2&1#,&*%'/"%&),&)&C#"%$*+"&+=&*1%&?+7!)'45

& K+'%&+=& *1%& 0#"%$*+",& +'& *1%&:+)"0&1+.0& 0#"%$*+",1#!,& #'&7+"%& *1)'& *%'&!/:.#$& $+7!)'#%,5& ^/"*1%"8& '+'%&+=&*1%7& #,& )&7%7:%"& +=&7+"%& *1)'& *%'& $+77#**%%,& +"& $1)#"7)'& +=&7+"%& *1)'& 93%& $+77#**%%,& )$"+,,& )..& *1%&public companies in which he is a director. Necessary disclosures regarding committee positions in other public companies as on March 31, 2016 have been made by the directors.

& \'0%!%'0%'*&0#"%$*+",&)"%&'+'d%A%$/*#3%&0#"%$*+",&),&0%9'%0&/'0%"&?.)/,%&cVJ\\LJaLJNL&+=&*1%&S#,*#'2&B2"%%7%'*&)'0& D%2/.)*#+'& NP& JN:L& +=& @6a\& JS#,*#'2& b:.#2)*#+',& )'0& C#,$.+,/"%& D%G/#"%7%'*,L& D%2/.)*#+',8& ORNQ5& ;1%&7)A#7/7&*%'/"%&+=&*1%&#'0%!%'0%'*&0#"%$*+",&#,&#'&$+7!.#)'$%&-#*1&*1%&?+7!)'#%,&B$*8&ORNT&JXB$*[L5&B..&*1%&\'0%!%'0%'*&C#"%$*+",&1)3%&$+'9"7%0&*1)*&*1%4&7%%*&*1%&$"#*%"#)&),&7%'*#+'%0&/'0%"&@%$*#+'&NcV&+=&*1%&B$*5

Board Meetings

& ^+/"&a+)"0&E%%*#'2,&-%"%&1%.0&0/"#'2&*1%&4%)"&%'0%0&+'&TNst March 2016. These were held on May 26, 2015; August 8, 2015; October 31, 2015 and January 30, 2016.Maximum time gap between two Board Meetings did '+*&%A$%%0&*1%&.#7#*,&),&,*#!/.)*%0&#'&*1%&?+7!)'#%,&B$*8&ORNT5&

Attendance of Directors at the Board Meeting and the last Annual GeneralMeeting

Name of the Director

Category

Meetings Directorship in other Public

CompaniesBoard AGM

@1"#&>5&K5&;)!)"#) ?1)#"7)'&)'0&EC8&M"+7+*%"&C#"%$*+" 4 Yes 1

Shri P. N. Shah Independent Director 4 - 6

Shri B. B. Ladda Independent Director 2 - -

Shri G. S. Manasawala Independent Director 4 Yes 1

36

@1"#&D)]%%3&e5&E/'0") Independent Director 2 - 2

Shri Shyam Malpani Independent Director 3 - 1

Miss Bhavna Shevakram Shamdasani Independent Director 4 - -

Shri Virendraa Bangur Non-Executive Director 1 - 5

Shri J.K. Taparia Non-Executive, Promoter Director 4 Yes -

Shri M.P. Taparia Non-Executive, Promoter Director 4 Yes 1

Shri D.P. Taparia Non-Executive, Promoter Director 4 Yes 3

Shri Sivaramakrishnan Director – Operations 4 Yes -

3. Independent Directors :

& ;1%&\'0%!%'0%'*&C#"%$*+",&1)3%&$+7!.#%0&-#*1&*1%&0%9'#*#+'&+=&\'0%!%'0%'$%&),&!%"&*1%&!"+3#,#+',&+=&,%$*#+'&NcVJPL&?+7!)'#%,&B$*8&ORNT5&;1%&$+7!)'4&1),&).,+&+:*)#'%0&0%$.)")*#+',&="+7&)..&*1%&\'0%!%'0%'*&C#"%$*+",&!/",/)'*&*+&,%$*#+'&NcV&JWL&+=&*1%&?+7!)'#%,&B$*8&ORNT5

Training of Independent Directors :

& F1%'%3%"&'%-&K+'d%A%$/*#3%&)'0&\'0%!%'0%'*&C#"%$*+",&)"%&#'0/$*%0&#'&*1%&a+)"0&*1%4&)"%&#'*"+0/$%0&*+&+/"&?+7!)'4H,& $/.*/"%& *1"+/21&)!!"+!"#)*%&+"#%'*)*#+'& ,%,,#+'&)'0& *1%4&)"%&).,+& #'*"+0/$%0& *+&+/"&+"2)'#_)*#+'&,*"/$*/"%8&+/"&:/,#'%,,8&$+',*#*/*#+'8&:+)"0&!"+$%0/"%,8&+/"&7)]+"&"#,<,&)'0&7)')2%7%'*&,*")*%245

The terms of appointment of Independent Directors as has been provided to the directors appointed are also !.)$%0&+'&*1%&?+7!)'4H,&-%:,#*%&)*&---5*)!)"#)*++.,5$+7

Performance Evaluation of non-executive and Independent Directors

The Board evaluates the performance of Non-executive and Independent Directors every year. All the Non-%A%$/*#3%&)'0&\'0%!%'0%'*&C#"%$*+",&)"%&%7#'%'*&!%",+').#*#%,&1)3#'2&-#0%&%A!%"#%'$%&#'&*1%&9%.0&+=&:/,#'%,,8&industry and administration. Their presence on the Board is advantageous and fruitful in taking business decisions.

4. AUDIT COMMITTEE

Composition of the Committee

& ;1%&B/0#*&?+77#**%%&+=&*1%&?+7!)'4&$+7!"#,%,&+=&93%&\'0%!%'0%'*&C#"%$*+",8&')7%.48 & )L& @1"#&Y5&@5&E)'),)-).)&f&?1)#"7)'&:L&@1"#&M5&K5&@1)1&$L&@1"#&a5&a5&S)00)&

& 0L&& @1"#&D)]%%3&e5&E/'0")&)'0&%L&@1"#&@14)7&E).!)'#5&

& ;1%&7%7:%",&+=&*1%&?+77#**%%&1)3%&2++0&%A!+,/"%&*+&S)-8&^#')'$#).&E)')2%7%'*8&;)A)*#+'8&?+7!)'4&Law matters, Internal/External Audit as well as in the areas of general management.

& ;1%&?+77#**%%H,&$+7!+,#*#+'&7%%*,&-#*1&"%G/#"%7%'*,&+=&@%$*#+'&NWW&+=&*1%&?+7!)'#%,&B$*8&ORNT&),&-%..&),&*1+,%&7%'*#+'%0&#'&@6a\&JS#,*#'2&b:.#2)*#+',&)'0&C#,$.+,/"%&D%G/#"%7%'*,L&D%2/.)*#+',8&ORNQ5&E%7:%",&+=&*1%&B/0#*&?+77#**%%&!+,,%,,&9')'$#).&g&)$$+/'*#'2&%A!%"*#,%&g&%A!+,/"%5

Scope of Audit Committee

& ;1%&,$+!%&)'0&=/'$*#+'&+=&*1%&B/0#*&?+77#**%%&#,&#'&)$$+"0)'$%&-#*1&@%$*#+'&NWW&+=&*1%&?+7!)'#%,&B$*8&ORNT&)'0&?.)/,%&cV&+=&*1%&S#,*#'2&B2"%%7%'*8&),&)7%'0%0&="+7&*#7%&*+&*#7%8&)'0&#*,&*%"7,&+=&"%=%"%'$%&#'$./0%&*1%&=+..+-#'2I

N5&& b3%",%%#'2& *1%& ?+7!)'4H,& 9')'$#).& "%!+"*#'2& !"+$%,,& )'0& *1%& 0#,$.+,/"%& +=& #*,& 9')'$#).& #'=+"7)*#+'& *+&%',/"%&*1)*&*1%&9')'$#).&,*)*%7%'*,&)"%&$+""%$*8&,/=9$#%'*&)'0&$"%0#:.%5

37

2. Recommending to the Board, the appointment, and if required, the replacement or removal of the statutory

)/0#*+"&)'0&*1%&9A)*#+'&+=&)/0#*&=%%,5

3. Approving payments to statutory auditors for any other services rendered by the statutory auditors.

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a+)"0&=+"&)!!"+3).8&-#*1&!)"*#$/.)"&"%=%"%'$%&*+I

& )L&& E)**%",&"%G/#"%0&*+&:%&#'$./0%0&#'&*1%&C#"%$*+",H&D%,!+',#:#.#*4&@*)*%7%'*&*+&:%&#'$./0%0&#'&*1%&a+)"0H,&

"%!+"*&#'&*%"7,&+=&@%$*#+'&NTc&+=&*1%&?+7!)'#%,&B$*8&ORNTh

& :L&& ?1)'2%,8&#=&)'48&#'&)$$+/'*#'2&!+.#$#%,&)'0&!")$*#$%,&)'0&"%),+',&=+"&*1%&,)7%h

& $L&& E)]+"&)$$+/'*#'2&%'*"#%,&#'3+.3#'2&%,*#7)*%,&:),%0&+'&*1%&%A%"$#,%&+=&]/027%'*&:4&7)')2%7%'*h

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& =L&& B!!"+3).&+"&)'4&,/:,%G/%'*&7+0#9$)*#+'&+=&*")',)$*#+',&+=&*1%&?+7!)'4&-#*1&"%.)*%0&!)"*#%,h&

& 2L&& @$"/*#'4&+=&#'*%"d$+"!+")*%&.+)',&)'0&#'3%,*7%'*,5

& 1L&& i/).#9$)*#+',&#'&*1%&0")=*&)/0#*&"%!+"*5

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#,,/%8&"#21*,&#,,/%8&!"%=%"%'*#).&#,,/%8&%*$5L8&*1%&,*)*%7%'*&+=&=/'0,&/*#.#,%0&=+"&!/"!+,%,&+*1%"&*1)'&*1+,%&,*)*%0&

in the offer document / prospectus/ notice and the report submitted by the monitoring agency monitoring the

utilization of proceeds of a public or rights issue and making appropriate recommendations to the Board to take

up steps in this matter.

6. Review and monitor auditors independence and performance of statutory and internal auditors and effectiveness

of adequacy of audit process.

7. Reviewing the adequacy of internal audit function, including the structure of the internal audit department,

,*)=9'2&)'0& ,%'#+"#*4& +=& *1%&+=9$#).& 1%)0#'2& *1%&0%!)"*7%'*8& "%!+"*#'2& ,*"/$*/"%& $+3%")2%&)'0& ="%G/%'$4&+=&

internal audit.

j5&& ?)""4#'2&0#,$/,,#+',&-#*1&#'*%"').&)/0#*+",&+'&)'4&,#2'#9$)'*&9'0#'2,&)'0&=+..+-&/!&*1%"%&+'5

V5& D%3#%-#'2&*1%&9'0#'2,&+=&)'4&#'*%"').&#'3%,*#2)*#+',&:4&*1%&#'*%"').&)/0#*+",&#'*+&7)**%",&-1%"%&*1%"%&#,&,/,!%$*%0&

fraud or irregularity or a failure of internal control systems of a material nature and reporting the matter to the

Board.

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well as post-audit discussion to ascertain any area of concern.

NN5&&;+&.++<&#'*+&*1%&"%),+',&=+"&,/:,*)'*#).&0%=)/.*,&#'&*1%&!)47%'*&*+&*1%&0%!+,#*+",8&,1)"%1+.0%",&J#'&$),%&+=&'+'d

!)47%'*&+=&0%$.)"%0&0#3#0%'0,L&)'0&$"%0#*+",5

12. To monitor the use of proceeds received in the initial public offering.

NT5&&B!!"+3).&+=&)!!+#'*7%'*&+=&?^b&J#5%5&*1%&F1+.%d*#7%&^#')'$#).&C#"%$*+"&+"&)'4&+*1%"&!%",+'&1%)0#'2&*1%&9')'$%&

=/'$*#+'&+"&0#,$1)"2#'2&*1)*&=/'$*#+'L&)=*%"&),,%,,#'2&*1%&G/).#9$)*#+'&)'0&:)$<2"+/'0&%*$5&+=&*1%&$)'0#0)*%5

Nc5&&;+&"%3#%-&*1%&=/'$*#+'#'2&+=&*1%&F1#,*.%&a.+-%"&7%$1)'#,75

38

Powers of Audit Committee:

1. To investigate any activity within its terms of reference

2. To seek information from any employee

T5& E)]+"&)$$+/'*#'2&%'*"#%,&#'3+.3#'2&%,*#7)*%,&:),%0&+'&*1%&%A%"$#,%&+=&]/027%'*&:4&*1%&7)')2%7%'*h

c5& @#2'#9$)'*&)0]/,*7%'*,&7)0%&#'&9')'$#).&,*)*%7%'*,&)"#,#'2&+/*&+=&)/0#*&9'0#'2,h&?+7!.#)'$%&-#*1&.#,*#'2&)'0&+*1%"&.%2).&"%G/#"%7%'*,&"%.)*#'2&*+&9')'$#).&,*)*%7%'*,h

Q5&& B!!"+3).&+"&)'4&,/:,%G/%'*&7+0#9$)*#+'&+=&*")',)$*#+',&+=&*1%&?+7!)'4&-#*1&"%.)*%0&!)"*#%,h&

6. Scrutiny of inter-corporate loans and investments.

Meeting Details

^+/"&E%%*#'2,&-%"%&1%.0&0/"#'2&*1%&4%)"&f&+'&E)4&OP8&ORNQh&B/2/,*&j8&ORNQh&b$*+:%"&TN8&ORNQ&)'0&e)'/)"4&TR8&ORNP5

Name of the Director Designation No. of meetings Attended

Shri G. S. Manasawala ?1)#"7)' 4

Shri P. N. Shah Member 4

Shri B. B. Ladda Member 2

@1"#&D)]%%3&e5&E/'0") Member 2

Shri Shyam Malpani Member 3

Attendance of Directors at the Audit Committee Meetings

@1"#&>)"')")4)'&;)!)"#)8&6A%$/*#3%&?1)#"7)'&)'0&E)')2#'2&C#"%$*+"&)'0&@1"#&@5D5&a)2)08&?1#%=&^#')'$#).&b=9$%"&)"%& !%"7)'%'*& #'3#*%%,& *+& *1%& B/0#*& ?+77#**%%&7%%*#'2,5& \'& )00#*#+'8& *1%& 1%)0,& +=& *1%& ^#')'$%& )'0& B$$+/'*,8&"%!"%,%'*)*#3%,&+=&\'*%"').&)'0&@*)*/*+"4&)/0#*+",&2%'%")..4&)**%'0%0&*1%,%&7%%*#'2,5&;1%&?+7!)'4&@%$"%*)"4&)$*%0&),&*1%&@%$"%*)"4&*+&*1%&B/0#*&?+77#**%%5

5. NOMINATION AND REMUNERATION COMMITTEE

& ;%"7,&+=&D%=%"%'$%&+=&*1%&?+77#**%%8&#'*%"&).#)8&#'$./0%,&*1%&=+..+-#'2I

N5& ;+&#0%'*#=4&!%",+',&-1+&)"%&G/).#9%0&*+&:%$+7%&0#"%$*+",&)'0&-1+&7)4&:%&)!!+#'*%0&#'&,%'#+"&7)')2%7%'*&#'&accordance with the criteria laid down, and recommend to the Board their appointment and removal.

2. To devise a policy on Board diversity;

3. To formulate the criteria for evaluation of Independent Directors and the Board;

c5& ;+&=+"7/.)*%&*1%&$"#*%"#)&=+"&0%*%"7#'#'2&G/).#9$)*#+',8&!+,#*#3%&)**"#:/*%,&)'0&#'0%!%'0%'$%&+=&)&C#"%$*+"8&)'0&recommend to the Board a policy, relating to the remuneration for the Directors, key managerial personnel and other employees.


!"#$%&'()*+(&)$*),$-#'.)#/*+(&)$0&''(++##$1&)2(2+2$&3$45#$6),#7#),#)+$8(/#1+&/29$)*'#:;<

@1"#&Y5&@5&E)'),)-).)&J?1)#"7)'&+=&*1%&?+77#**%%L Independent Director

Shri P. N. Shah Independent Director

Shri B. B. Ladda Independent Director

@1"#&D)]%%35&e5&E/'0") Independent Director

Shri Shyam Malpani Independent Director

39

Meeting Details

K+7#')*#+'&)'0&D%7/'%")*#+'&?+77#**%%&E%%*#'2,&-%"%&1%.0& #'& *1%&4%)"&/'0%"& "%3#%-&+'&B/2/,*&j8&ORNQ8&)'0&January 30, 2016.

Attendance of Directors at the Nomination and Remuneration Committee Meetings

Name of the Director Designation No. of meetings Attended

Shri G. S. Manasawala ?1)#"7)' 2

Shri P. N. Shah Member 2


@1"#&D)]%%3&e5&E/'0") Member 1

Shri Shyam Malpani Member 1

Remuneration Policy

;1%& K+7#')*#+'& )'0& D%7/'%")*#+'& ?+77#**%%& #,& =/..4& %7!+-%"%0& *+& 0%*%"7#'%g)!!"+3%& )'0& "%3#,%8& ,/:]%$*& *+&necessary approvals, the remuneration of managerial personnel including Managing Director after taking into account *1%&9')'$#).&!+,#*#+'&+=&*1%&?+7!)'48&*"%'0,&#'&*1%&#'0/,*"48&G/).#9$)*#+',8&%A!%"#%'$%8&!),*&!%"=+"7)'$%&)'0&!),*&remuneration, etc.

;1%&K+'d6A%$/*#3%&C#"%$*+",&)"%&!)#0&,#**#'2&=%%,&=+"&%3%"4&7%%*#'2&+=&*1%&a+)"0&)'0&#*,&?+77#**%%,&)**%'0%0&:4&them.

Details of Sitting Fees paid to Non-Executive Directors and Independent Directors

Name of the Director Amount (Rs.)

Name of the Director Amount (Rs.)

Shri P. N. Shah 75,000Miss Bhavna Shevakram

Shamdasani 45,000

Shri G. S. Manasawala 75,000 Shri D. P. Taparia 50,000

Shri B. B. Ladda 40,000 Shri M. P. Taparia 40,000

@1"#&D)]%%3&e5&E/'0") 35,000 Shri J. K. Taparia 40,000

Shri Shyam Malpani 50,000 Shri Virendraa Bangur 10,000

;+*).&@#**#'2&^%%,&M)#0 4,60,000

J;1%&):+3%&,#**#'2&=%%,&)"%&%A$./0#'2&"%#7:/",%7%'*&+=&*")3%.&)'0&+*1%"&%A!%',%,&#'$/""%0&=+"&*1%&:/,#'%,,&+=&*1%&?+7!)'4L

@#**#'2&=%%,&=+"&C#"%$*+",&=+"&*1%&E%%*#'2,&)"%&),&=+..+-,I

)L& a+)"0&+=&C#"%$*+",ID,5NR8RRRgd&%)$1&7%%*#'25&

&:L& B/0#*&?+77#**%%8&K+7#')*#+'&k&D%7/'%")*#+'&?+77#**%%8&?+"!+")*%&@+$#).&D%,!+',#:#.#*4&?+77#**%%&)'0&@!%$#).&?+77#**%%I&D,5&Q8RRRgd&%)$1&7%%*#'25

Performance evaluation of Directors

;1%&K+7#')*#+'&)'0&D%7/'%")*#+'&?+77#**%%&+=&*1%&a+)"0&1),&.)#0&0+-'&*1%&$"#*%"#)&=+"&!%"=+"7)'$%&%3)./)*#+'&of all Directors. The performance evaluation is being done by the entire Board of Directors, except the Director $+'$%"'%0&:%#'2&%3)./)*%05&;1%&$"#*%"#)&=+"&!%"=+"7)'$%&%3)./)*#+'&)"%&),&=+..+-,I&

Role & Accountability `& l'0%",*)'0#'2&*1%&')*/"%&)'0&"+.%&+=&\'0%!%'0%'*&C#"%$*+",H&!+,#*#+'5&`& l'0%",*)'0#'2&+=&"#,<,&),,+$#)*%0&-#*1&*1%&:/,#'%,,5&`& B!!.#$)*#+'&+=&<'+-.%02%&=+"&"%'0%"#'2&)03#$%&*+&7)')2%7%'*&=+"&"%,+./*#+'&+=&:/,#'%,,&#,,/%,5&

40

`& b==%"&$+',*"/$*#3%&$1)..%'2%&*+&7)')2%7%'*&,*")*%2#%,&)'0&!"+!+,).,5&`& B$*#3%&%'2)2%7%'*&-#*1&*1%&7)')2%7%'*&)'0&)**%'*#3%'%,,&*+&!"+2"%,,&+=&0%$#,#+',&*)<%'5&

b:]%$*#3#*4&`& K+'d!)"*#,)'&)!!")#,).&+=&#,,/%,5&`& b-'&"%$+77%'0)*#+',&2#3%'&!"+=%,,#+')..4&-#*1+/*&*%'0#'2&*+&7)]+"#*4&+"&!+!/.)"&3#%-,5&

Leadership & Initiative `& >%)0#'2&a+)"0&@/:d$+77#**%%,5&`& C"#3#'2&)'4&=/'$*#+'&+"&#0%'*#9%0&#'#*#)*#3%&:),%0&+'&0+7)#'&<'+-.%02%&)'0&%A!%"#%'$%5

REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL: (No Sitting Fees) J`&#'&S)<1,L

Name of the Director Salary and Allowances Perquisites

@1"#&>5&K5&;)!)"#)8&?1)#"7)'&)'0&E)')2#'2&C#"%$*+" ` 42.00 Nil

Shri Sivaramakrishnan, Director - Operations ` 16.17 ` 1.96

@1"#&Z5&@5&C)*%48&?+7!)'4&@%$"%*)"4 ` 1.56 ` 0.48

@1"#&@5&D5&a)2)08&?1#%=&^#')'$#).&b=9$%" ` 8.10 ` 1.13

Total remuneration paid ` 67.83 ` 3.57

D%7/'%")*#+'&#'$./0%,&a),#$&@).)"48&>+/,%&D%'*&B..+-)'$%8&a+'/,8&S%)3%&6'$),17%'*&)'0&?+7!)'4H,&?+'*"#:/*#+'&*+&M"+3#0%'*&^/'0&:/*&%A$./0%,&?+7!)'4H,&?+'*"#:/*#+'&*+&Y")*/#*4&^/'056. STAKEHOLDERS’ RELATIONSHIP COMMITTEE


& ;1%&7%7:%",&+=&*1%&@1)"%1+.0%",&Y"#%3)'$%,g@1)"%&B..+*7%'*&)'0&;")',=%"&?+77#**%%&+=&*1%&?+7!)'4&)"%&@1"#&C5&M5&;)!)"#)8&?1)#"7)'8&@1"#&>5&K5&;)!)"#)&)'0&@1"#&@#3)")7)<"#,1')'5

& @1"#&Z5&@5&C)*%48&?+7!)'4&@%$"%*)"4&-1+&#,&*1%&?+7!.#)'$%&b=9$%"&$)'&:%&$+'*)$*%0&)*&*1%&"%2#,*%"%0&+=9$%&+=&*1%&?+7!)'45

DETAILS OF SHAREHOLDERS’ COMPLAINTS

1. Number of shareholders’ complaints received in 2015-16 2

2. Number of complaints not solved to the satisfaction of the shareholders 2

3. Number of pending complaints 2

Terms of reference:

;1%&@*)<%1+.0%",H&D%.)*#+',1#!&?+77#**%%8&#'*%"&).#)8&#,&!"#7)"#.4&"%,!+',#:.%&=+"&$+',#0%"#'2&)'0&"%,+.3#'2&2"#%3)'$%,&+=&,%$/"#*4&1+.0%",&+=&*1%&?+7!)'45&;1%&)00#*#+').&!+-%",&J*%"7,&+=&"%=%"%'$%L&+=&*1%&@*)<%1+.0%",H&D%.)*#+',1#!&?+77#**%%&)"%I

N5&& D%3#%-&)'0&+3%",%%&*1%&!"+$%,,&+=&*")',=%"8&*")',7#,,#+'&+=&,1)"%,8&#,,/%&0/!.#$)*%&,1)"%&$%"*#9$)*%,8&,!.#**#'2&+"& $+',+.#0)*#+'& +=& ,1)"%& $%"*#9$)*%,8& "%0"%,,& ,1)"%1+.0%",H& $+7!.)#'*,8& )!!"+3%& *1%& '+7#')*#+',& "%$%#3%08&dematerialisation, rematerialisation, etc. and other shares related formalities.

2. Review and oversee the process of resolving of shareholders /investors/ security-holders grievances.

3. Advise the Board of Directors on matters which can facilitate better investor services and relations.

c5& ?)""4&+/*&)'4&+*1%"&=/'$*#+'&),&#,&"%=%""%0&:4&*1%&a+)"0&="+7&*#7%&*+&*#7%&+"&%'=+"$%0&:4&)'4&,*)*/*+"4&'+*#9$)*#+'&g&)7%'07%'*&+"&7+0#9$)*#+'&),&7)4&:%&)!!.#$):.%5

41

& K+5&+=&E%%*#'2,&1%.0&0/"#'2&*1%&4%)"I

C/"#'2&*1%&4%)"&*1%&?+77#**%%&1)0&O&7%%*#'2,&+'&Njth July, 2015, 10th October, 2015 and 9th January, 2016

Attendance of Directors at the Stakeholders’ Relationship Committee Meeting

Name of the Director Designation No. of meeting Attended

Shri D. P. Taparia ?1)#"7)' 3

@1"#&>5&K5&;)!)"#) Member 3

Shri Sivaramakrishnan Member 3

7. Corporate Social Responsibility Committee (CSR)


& ;1%&7%7:%",&+=&*1%&?+"!+")*%&@+$#).&D%,!+',#:#.#*4&?+77#**%%&+=&*1%&?+7!)'4&)"%&@1"#&>5&K5&;)!)"#)&J?1)#"7)'L8&Shri D. P. Taparia and Shri. B. B. Ladda.

Terms of reference:& ;1%&?+77#**%%&=+"7/.)*%,&)'0&"%$+77%'0&*+&*1%&a+)"08&)&?@D&M+.#$4&)'0&"%$+77%'0&*1%&)7+/'*&+=&%A!%'0#*/"%&

*+&:%&#'$/""%0&+'&?@D&)$*#3#*#%,5&?+77#**%%&=")7%0&)&*")',!)"%'*&7+'#*+"#'2&7%$1)'#,7&=+"&#7!.%7%'*)*#+'&+=&?@D&!"+]%$*,&+"&!"+2")7,&+"&)$*#3#*#%,&/'0%"*)<%'&:4&*1%&?+7!)'4&)'0&).,+&?@D&!+.#$4&="+7&*#7%&*+&*#7%5

Composition:

& ;1%&?@D&?+77#**%%&+=&*1%&?+7!)'4&$+',#,*,&+=&?1)#"7)'8&N&K+'d6A%$/*#3%&C#"%$*+"&)'0&N&\'0%!%'0%'*&C#"%$*+"5

No. of Meetings held during the year

& C/"#'2&*1%&4%)"&*1%&?+77#**%%&1)0&O&7%%*#'2,&+'&OPth May 2015 and 30th January 2016.

Attendance of Directors at the Corporate Social Responsibility Committee Meeting

Name of the Director Designation No. of meeting Attended

@1"#&>5&K5&;)!)"#)& ?1)#"7)' 2


Shri D. P. Taparia Member 2

8. RISK MANAGEMENT COMMITTEE:

& C/"#'2& *1%& 9')'$#).& 4%)"& %'0%0& TNst March, 2016, the Board of Directors constituted a Risk Management ?+77#**%%&)'0&).,+&0%9'%0&#*,&"+.%,&)'0&"%,!+',#:#.#*#%,&#'&)$$+"0)'$%&-#*1&*1%&!"+3#,#+',&+=&?.)/,%&cV&+=&*1%&Listing Agreement.

Terms of reference:

& ;1%&?+77#**%%H,&*%"7,&+=&"%=%"%'$%8&#'*%"&).#)8&#'$./0%&=")7#'2&"#,<&7)')2%7%'*&!+.#$4&)'0&#0%'*#=4#'2&?+7!)'4H,&risk appetite set for various elements of risk, review the risk management practices & structures and recommend changes to ensure their adequacy, approve & review the risk treatment plans put in place by management and %',/"%&)0%G/)$4&+=&"#,<&7)')2%7%'*&!")$*#$%,&#'&*1%&?+7!)'45

& \*&!"%,$"#:%,&*1%&"+.%,&)'0&"%,!+',#:#.#*#%,&+=&3)"#+/,&,*)<%1+.0%",&-#*1#'&*1%&?+7!)'48&*1%&,*"/$*/"%&=+"&7)')2#'2&risks and the framework for risk management.

& ;1#,&!+.#$4&)'0& *1%& \'*%"').&^#')'$#).&?+'*"+.,&$+7!"%1%',#3%.4&)00"%,,& *1%&<%4&,*")*%2#$g:/,#'%,,& "#,<,&)'0&operational risks respectively.

42

9. GENERAL BODY MEETINGS

Location and time where the last three Annual General Meetings were held:

Year Day and Date Time Location

2012-2013Monday

23.09.201312.30 p.m. >+*%.&67%").0&M)"<8&@1)")'!/"&S#'<&D+)08&K),1#<d&cOO&RRO

2013-2014F%0'%,0)4&24.09.2014

9.30 a.m. >+*%.&67%").0&M)"<8&@1)")'!/"&S#'<&D+)08&K),1#<d&cOO&RRO

2014-2015Tuesday

29-09-20159.30 a.m.

Bon Vivant, Patil Park, Old Gangapur Naka, Opp. Dongre Vasti Gruha, Nashik- 422 002

Details of Special Resolutions passed in the above referred Meetings are given below:

Date of the AGM Number of Special Resolutions

passed

Subject matter

September 23, 2013 4

`& B!!+#'*7%'*& +=& @1"#& @#3)")7)<"#,1')'&),&F1+.%& *#7%&C#"%$*+"&0%,#2')*%0&),&C#"%$*+"&f&b!%")*#+',&)'0&9A&*1%&$%#.#'2& .#7#*&+=&remuneration payable to him.

`& \'$"%),%&#'&*1%&$%#.#'2&.#7#*&+=&"%7/'%")*#+'&+=&C"5&E5Y5&K)*1)'#8&Executive Director.

`& B7%'07%'*& *+& B"*#$.%,& +=& *1%& ?+7!)'4& =+"& *1%& !/"!+,%& +=&dematerialisation of shares.

`& ?+'3%",#+'&+=&,1)"%,&#'&0%7)*%"#).#,%0&=+"75

September 24, 2014 1 B7%'07%'*&#'&*1%&B"*#$.%,&+=&B,,+$#)*#+'&+=&*1%&?+7!)'4

September 29, 2015 1D%)!!+#'*7%'*&+=&@1"#&>5K5&;)!)"#)& JC\KI&RRNOPWWcL&),&?1)#"7)'&and Managing Director for a period of 5 years w.e.f 17-09-2015 and 9A&*1%&"%7/'%")*#+'&)'0&!%"G/#,#*%,&*1%"%+=5&

10. DISCLOSURES

Related Party Transactions

The details of the related party transactions during the year under review are shown in the Notes to Accounts which form part of this Report.

Disclosure of Accounting Treatment

;1%&?+7!)'4& 1),& =+..+-%0& *1%& *"%)*7%'*& .)#0& 0+-'& #'& *1%& B$$+/'*#'2& @*)'0)"0,& !"%,$"#:%0& :4& *1%& \',*#*/*%& +=&?1)"*%"%0&B$$+/'*)'*,&+=&\'0#)8&#'&*1%&!"%!)")*#+'&+=&9')'$#).&,*)*%7%'*,5&;1%"%&)"%&'+&)/0#*&G/).#9$)*#+',&#'&*1%&?+7!)'4H,&9')'$#).&,*)*%7%'*,&=+"&*1%&4%)"&/'0%"&"%3#%-5

Vigil Mechanism / Whistle-blower Policy

\'&.#'%&-#*1&*1%&:%,*&?+"!+")*%&Y+3%"')'$%&!")$*#$%,8&;)!)"#)&;++.,&S#7#*%08&1),&!/*&#'&!.)$%&)&,4,*%7&*1"+/21&-1#$1&the Directors, employees and business associates may report concerns about unethical behavior, actual or suspected =")/0&+"&3#+.)*#+'&+=&*1%&?+7!)'4H,&?+0%&+=&?+'0/$*&k&6*1#$,&-#*1+/*&=%)"&+=&"%!"#,).5&;1%&?+7!)'4&1),&!/*&#'&!.)$%&)&!"+$%,,&:4&-1#$1&%7!.+4%%,&)'0&:/,#'%,,&),,+$#)*%,&1)3%&0#"%$*&)$$%,,&*+&*1%&B/0#*&?+77#**%%&?1)#"7)'8&E)')2#'2&C#"%$*+"8&?1)#"7)'&+=&*1%&a+)"0&)'0&?+7!.#)'$%&b=9$%"5

;1%&F1#,*.%d:.+-%"&M+.#$4&#,&!.)$%0&+'&*1%&'+*#$%&:+)"0&+=&*1%&?+7!)'48&)'0&#*,&-%:,#*%5&E+"%+3%"8&#*&#,&).,+&$)""#%0&in this Annual Report.

43

Compliance by the Companies

;1%&?+7!)'4&1),&$+7!.#%0&-#*1&3)"#+/,& "/.%,&)'0&"%2/.)*#+',&!"%,$"#:%0&:4&@*+$<&6A$1)'2%8&@6a\&+"&)'4&+*1%"&statutory authority relating to the capital markets during the last three years. No penalties or strictures have been #7!+,%0&:4&*1%7&+'&*1%&?+7!)'45

Details of adoption of non-mandatory requirements under SEBI (Listing Obligations and Disclosure -#=.(/#'#)+2>$-#?.:*+(&)29$@ABC$D;$+"#$0&'7*);

BL& ;1%&?+7!)'4&1),&$+',*#*/*%0&D%7/'%")*#+'&?+77#**%%8&=/..&0%*)#.,&)"%&=/"'#,1%0&#'&*1#,&"%!+"*5&;1%&^#')'$#).&D%,/.*,&+=&*1%&?+7!)'4&)"%&!/:.#,1%0&#'&*1%&'%-,!)!%",&+'&G/)"*%".4&:),#,5&>%'$%8&*1%4&)"%&'+*&,%'*&*+&%)$1&shareholder.

aL& ;1%&,*)*/*+"4&9')'$#).&,*)*%7%'*,&+=&*1%&?+7!)'4&)"%&/'G/).#9%05

?L& ;1%&a+)"0&+=&C#"%$*+",&+=&*1%&?+7!)'4&$+',#,*,&+=&)'&+!*#7).&:.%'0&+=&?+7!)'4&6A%$/*#3%,&)'0&\'0%!%'0%'*&professionals having knowledge of Business and expertise in their area of specialization.

11. MEANS OF COMMUNICATION

& ;1%&G/)"*%".48&1).=d4%)".4&)'0&4%)".4&9')'$#).&"%,/.*,&+=&*1%&?+7!)'4&)"%&,%'*&*+&*1%&@*+$<&6A$1)'2%,&#77%0#)*%.4&after they are approved by the Board. These are also published in the newspapers.

12. SEBI Complaints Redressal System (SCORES):

& @6a\&1),& #'#*#)*%0&@?bD6@&=+"&!"+$%,,#'2&*1%& #'3%,*+"&$+7!.)#'*,& #'&)&$%'*").#_%0&-%:&:),%0&"%0"%,,&,4,*%7&)'0&+'.#'%&"%0"%,,).&+=&)..&*1%&,1)"%1+.0%",&$+7!.)#'*,5&;1%&$+7!)'4&#,& #'&$+7!.#)'$%&-#*1&*1%&@?bD6@&)'0&redressed the shareholders complaints well within the stipulated time.

13. GENERAL SHAREHOLDERS INFORMATION

a) Annual General Meeting

Day, Date and Time I Thursday, 29th September, 2016 at 9.30 a.m.

Venue I >+*%.&67%").0&M)"<8&@1)")'!/"&S#'<&D+)08&K),1#<d&422 002

b) Financial Calendar

Year Ending I& 31st March 2017

Quarterly Results I To be declared within 45 days from the relevant quarter.

Meeting for consideration of quarterly unaudited results

I F#*1#'& cQ& 0)4,& ="+7& %'0& +=& G/)"*%"& ),& !%"& *1%&Listing Agreement with the BSE

Audited results for the year ending on 31st March 2017 I May 2017

Annual General Meeting for the year 2017 I September 2017

c) Date of Book Closure& ^"+7&OTrd&@%!*%7:%"8&ORNP&J^"#0)4L&*+&OVth&@%!*%7:%"8&ORNP&J;1/",0)4L8&#'$./,#3%&+=&:+*1&0)4,5

d) Dividend Payment Date & K+&C#3#0%'0&=+"&^#')'$#).&m%)"&ORNQdNP&#,&!"+!+,%05

e) Listing on Stock Exchange and Stock Code

Sr. No. Stock Exchange Stock Code ISIN No. for CDSL & NSDL Address

1 Bombay Stock Exchange Limited

505685 INE614R01014^.++"&OQ8&M5&e5&;+-%",8&C).).&@*"%%*8&Mumbai – 400 001

;1%&?+7!)'4&1),&!)#0&B''/).&S#,*#'2&^%%,&*+&a@68&E/7:)#&=+"&*1%&9')'$#).&4%)",&ORNcdNQ8&ORNQdNP&)'0&ORNPdNW5

44

f) Market Price Data

& >#21&)'0&S+-&G/+*)*#+',&+=&,1)"%,&0/"#'2&*1%&9')'$#).&4%)"&ORNQdNP&"%7)#'%0&9A%0&)*&D,5&QQ5WQgd&!%"&,1)"%5

g) Registrar and Share Transfer Agents / Dematerialisation of shares

& @1)"%1+.0%",&7)4& $+'*)$*& *1%&?+7!)'4H,&D%2#,*")"& )'0& @1)"%&;")',=%"& B2%'*& J=+"& :+*1& !14,#$).& )'0& 0%7)*&,%27%'*,L&)*&*1%&=+..+-#'2&)00"%,,&=+"&)'4&),,#,*)'$%&"%2)"0#'2&0%7)*%"#).#_)*#+'&+=&,1)"%,8&,1)"%&*")',=%",8&*")',7#,,#+'8&$1)'2%&+=&)00"%,,8&)'0&)'4&+*1%"&G/%"4&"%.)*#'2&*+&*1%&,1)"%,&+=&*1%&?+7!)'4I

& l'#3%",).&?)!#*).&@%$/"#*#%,&M3*5&S*0& 21, Shakil Niwas, Opp. Satya Sai Baba Temple, & E)1)<).#&?)3%,&D+)08&B'01%"#&J6),*L Mumbai – 400 093 Maharashtra& ;%.I&JROOL&OjOR&WORTdRQ&^)AI&JROOL&OjOR&WORW& 67)#.I&[email protected]& F%:&@#*%I&---5/'#,%$5#'&

h) Share Transfer System

& ;)!)"#)&;++.,&S#7#*%0&1),&$+7!.%*%0&)..& *1%& =+"7).#*#%,&-#*1&?C@S&)'0&K@CS& #'& "%2)"0,& *+&C%7)*%"#).#,)*#+'&of shares. Now the shareholders of the company can avail the facility of demating their shares with both the 0%!+,#*+"#%,&#5%5&K@CS&)'0&?C@S5

& @1)"%1+.0%",&7)4&,%'0&*1%#"&,1)"%,&=+"&*")',=%"&#'&!14,#$).&=+"7&*+&D;B&+"&)*&D%2#,*%"%0&b=9$%&+=&*1%&?+7!)'45&RTA will register such transfers within 15 days of receipt of the documents, if documents are found in order.

i) Distribution of Shareholdings as on 31st March 2016

Sr. No.

No. of Equity Shares Shareholders Shareholding

No. % No. %

1 l!&*+&QRRR 238 85.61 32994 1.09

2 5001- 10000 4 1.44 29692 0.98

3 10001- 20000 8 2.88 130854 4.31

4 20001- 30000 1 0.36 25300 0.83

5 30001- 40000 1 0.36 35277 1.16

6 40001- 50000 5 1.80 233651 7.70

7 50001- 100000 9 3.24 575319 18.95

8 100001 and above 12 4.32 1972663 64.98

278 100.00 3035750 100

j) Shareholding Pattern as on 31st March 2016

Category of Shareholder No. of Shareholders No. of Shares Percentage of Shareholding

Promoters 19 2091217 68.89

a+0#%,&?+"!+")*%&JM"+7+*%",L 1 25300 0.83

a+0#%,&?+"!+")*%&Jb*1%",L 6 351175 11.57

^+"%#2'&\'3%,*+", 1 16500 0.54

Others 251 551558 18.17

TOTAL 278 3035750 100

45

M14,#$).gK@CSg?C@Sg@/77)"4&D%!+"*&),&+'&TNst March, 2016

Particulars Holders Shares Percentage

Physical 261 2581013 85.02

NSDL 13 454269 14.96

?C@S 4 468 0.02

Total 278 3035750 100.00

k) Dematerialization and Liquidity:& ;)!)"#)&;++.,&S#7#*%0&1),&$+7!.%*%0&)..&*1%&=+"7).#*#%,&-#*1&?C@S&)'0&K@CS&#'&"%2)"0,&*+&C%7)*%"#).#,)*#+'&+=&

,1)"%,5&;1%&?+7!)'4& #,&%'0%)3+"#'2&*+&$+7!.%*%& *1%&0%7)*%"#).#,)*#+'&+=&,1)"%,&+=&M"+7+*%"&)'0&M"+7+*%"&Group. Till date, after the initiating the process of dematerialisation of shares, the Promoter and Promoter Group have already demated 72.95% of their shareholding.

l) Plant Locations & n& K),#<& I&QO&k&QOa8&E\C?&B"%)8&;"#7:)<&D+)08&@)*!/"8&K),1#<&f&cOO&RRW&& n& Y+)&& I&M.+*&K+5&SdOV8&?/'$+.#7&\'0/,*"#).&6,*)*%8&?/'$+.#7&f&cRT&WRT

'>$ -#?(2+#/#,$E341#$*),$F,,/#22$3&/$1&//#27&),#)1#& QO&k&QOa8&E\C?&B"%)8&;"#7:)<&D+)08&@)*!/"8&K),1#<&d&cOO&RRW5

14. UNCLAIMED DIVIDEND AMOUNTS:

& M/",/)'*& *+& *1%&!"+3#,#+',&+=&@%$*#+'&NOT&+=& *1%&?+7!)'#%,&B$*8&ORNT8& *1%&0#3#0%'0&=+"& *1%& =+..+-#'2&4%)",8&-1#$1&"%7)#'&/'$.)#7%0&=+"&,%3%'&4%)",8&-#..&:%&*")',=%""%0&*+&\'3%,*+"&60/$)*#+'&)'0&M"+*%$*#+'&^/'0&J\6M^L&%,*):.#,1%0&:4&*1%&?%'*").&Y+3%"'7%'*&!/",/)'*&*+&@%$*#+'&NOQ&+=&*1%&?+7!)'#%,&B$*8&ORNT5

Members are also advised to update their correspondence address in their demat accounts in case of their holdings in electronic form or inform their latest correspondence address to the Registrars in case of holdings in physical form.

15. CODE OF CONDUCT

The members of the Board of Directors of TAPARIA TOOLS LTD acknowledge and accept the scope and extent of their duties as Directors.

& ;1%&?+0%&+=&?+'0/$*&),&)0+!*%0&:4&*1%&a+)"0&+=&C#"%$*+",&#,&)!!.#$):.%&*+&)..&a+)"0&E%7:%",8&@%'#+"&E)')2%7%'*&)'0&>%)0&+=&C%!)"*7%'*,&+=&*1%&?+7!)'45&;1%4&)"%&%'*"/,*%0&-#*1&)'0&)"%&"%,!+',#:.%&=+"&*1%&+3%",#21*&+=&*1%&assets and business affairs of TAPARIA TOOLS LTD. in an honest, fair, diligent and ethical manner. They must act within the bounds of the authority conferred upon them and with the duty to make and enact informed decisions )'0&!+.#$#%,&#'&*1%&:%,*&#'*%"%,*,&+=&*1%&?+7!)'45&

& B&0%$.)")*#+'&:4&*1%&?1)#"7)'&)'0&E)')2#'2&C#"%$*+"&+=&*1%&?+7!)'4&)=9"7#'2&*1%&$+7!.#)'$%&+=&*1%&?+0%&:4&the Board Members and Senior Management is given at the end of the report.

For and on behalf of the Board

Mumbai, H. N. Taparia

13th August 2016 ?1)#"7)'&)'0&E)')2#'2&C#"%$*+"

46

Code of Conduct

DECLARATION

B,&!"+3#0%0&/'0%"&D%2/.)*#+'&NWJjL&+=&@6a\&JS#,*#'2&b:.#2)*#+',&)'0&C#,$.+,/"%&D%G/#"%7%'*,L&D%2/.)*#+',8&ORNQ8&*1%&a+)"0&)'0&*1%&@%'#+"&E)')2%7%'*&M%",+''%.&1)3%&$+'9"7%0&$+7!.#)'$%&-#*1&*1%&?+0%&+=&?+'0/$*&=+"&*1%&4%)"&ended 31st March, 2016.

For and on behalf of the Board

Mumbai, H. N. Taparia

13th August 2016 ?1)#"7)'&)'0&E)')2#'2&C#"%$*+"

CEO/CFO CERTIFICATION

F%8&>5K5&;)!)"#)8&?1)#"7)'&)'0&E)')2#'2&C#"%$*+"&)'0&@5D5&a)2)08&?1#%=&^#')'$#).&b=9$%"&+=&;)!)"#)&;++.,&S#7#*%08&$%"*#=4&*1)*I

N5& F%&1)3%&"%3#%-%0&*1%&9')'$#).&,*)*%7%'*,&)'0&$),1&(+-&,*)*%7%'*&=+"&*1%&4%)"&)'0&*1)*&*+&*1%&:%,*&+=&+/"&knowledge and belief;

)L& ;1%,%& ,*)*%7%'*,& 0+& '+*& $+'*)#'& )'4&7)*%"#)..4& /'*"/%& ,*)*%7%'*& +"& +7#*& )'4&7)*%"#).& =)$*& +"& $+'*)#'&statements that might be misleading;

:L& ;1%,%&,*)*%7%'*,&2#3%&)& *"/%&)'0&=)#"&3#%-&+=& *1%&,*)*%&+=&)==)#",&+=& *1%&$+7!)'4&)'0&+=& *1%&"%,/.*,&+=&+!%")*#+',& )'0& $),1& (+-,5& ;1%& 9')'$#).& ,*)*%7%'*,& 1)3%& :%%'& !"%!)"%0& #'& $+'=+"7#*48& #'& )..& 7)*%"#).&respects, with the existing generally accepted accounting principles including Accounting Standards, applicable laws and regulations.

2. There are, to the best of our knowledge and belief, no transactions entered into by the company during the year *1)*&)"%&=")/0/.%'*8&#..%2).&+"&#'&3#+.)*#+'&+=&*1%&$+7!)'4H,&?+0%&+=&$+'0/$*5

T5& F%&)$$%!*&+3%")..&"%,!+',#:#.#*4&=+"&*1%&$+7!)'4H,&#'*%"').&$+'*"+.&,4,*%7&=+"&9')'$#).&"%!+"*#'25&;1#,&#,&7+'#*+"%0&by the internal audit function, which encompasses the examination and evaluation of the adequacy and %==%$*#3%'%,,5&\'*%"').&)/0#*&-+"<,&-#*1&)..&.%3%.,&+=&7)')2%7%'*&)'0&,*)*/*+"4&)/0#*+",8&)'0&"%!+"*,&,#2'#9$)'*&#,,/%,&*+&*1%&B/0#*&?+77#**%%&+=&*1%&a+)"05&;1%&)/0#*+",&)'0&)/0#*&$+77#**%%&)"%&)!!"#,%0&+=&)'4&$+""%$*#3%&)$*#+'&*)<%'&-#*1&"%2)"0&*+&,#2'#9$)'*&0%9$#%'$#%,&)'0&7)*%"#).&-%)<'%,,%,5

c5& F%&#'0#$)*%&*+&*1%&)/0#*+",&)'0&*+&*1%&)/0#*&$+77#**%%I

NL& @#2'#9$)'*&$1)'2%,&#'&#'*%"').&$+'*"+.&+3%"&9')'$#).&"%!+"*#'2&0/"#'2&*1%&4%)"h

OL& @#2'#9$)'*&$1)'2%,&#'&)$$+/'*#'2&!+.#$#%,&0/"#'2&*1%&4%)"h

TL& \',*)'$%,&+=&,#2'#9$)'*&=")/0&+=&-1#$1&-%&1)3%&:%$+7%&)-)"%&+=&)'0&-1#$1&#'3+.3%&7)')2%7%'*&+"&+*1%"&%7!.+4%%,&-1+&1)3%&,#2'#9$)'*&"+.%&#'&*1%&$+7!)'4H,&#'*%"').&$+'*"+.&,4,*%7&+3%"&9')'$#).&"%!+"*#'25

H.N. Taparia S. R. Bagad

?1)#"7)'&)'0&E)')2#'2&C#"%$*+" ?1#%=&^#')'$#).&b=9$%"&

Mumbai,

30th May 2016

47

Auditors’ Certificate on Corporate Governance

To the shareholders of Taparia Tools Limited,

F%&1)3%&%A)7#'%0&*1%&$+7!.#)'$%&+=&*1%&$+'0#*#+',&+=&?+"!+")*%&Y+3%"')'$%&:4&;)!)"#)&;++.,&S#7#*%0&=+"&*1%&4%)"&ended 31st&E)"$18&ORNP8&),&,*#!/.)*%0&#'&?1)!*%"&\Z&+=&@%$/"#*#%,&)'0&6A$1)'2%&a+)"0&+=&\'0#)&JS#,*#'2&b:.#2)*#+',&)'0&C#,$.+,/"%&D%G/#"%7%'*,L&D%2/.)*#+',8&ORNQ&JX@6a\&D%2/.)*#+',[L&)'0&$.)/,%&cV&+=&*1%&S#,*#'2&B2"%%7%'*&+=&*1%&,)#0&?+7!)'4&-#*1&@*+$<&6A$1)'2%8&E/7:)#5

;1%&?+7!.#)'$%&+=&$+'0#*#+',&+=&?+"!+")*%&Y+3%"')'$%&#,&*1%&"%,!+',#:#.#*4&+=&*1%&7)')2%7%'*5&b/"&%A)7#')*#+'&-),&.#7#*%0&*+&)&"%3#%-&+=&!"+$%0/"%,&)'0&#7!.%7%'*)*#+',&*1%"%+=8&)0+!*%0&:4&*1%&?+7!)'4&=+"&%',/"#'2&*1%&$+7!.#)'$%&-#*1&*1%&$+'0#*#+',&+=&?+"!+")*%&Y+3%"')'$%5&\*& #,&'%#*1%"&)'&)/0#*&'+"&)'&%A!"%,,#+'&+=&+!#'#+'&+'&*1%&9')'$#).&,*)*%7%'*,&+=&*1%&?+7!)'45

\'&+/"&+!#'#+'&)'0&*+&*1%&:%,*&+=&+/"&#'=+"7)*#+'&)'0&%A!.)')*#+',&2#3%'&*+&/,8&-%&$%"*#=4&*1)*&*1%&?+7!)'4&1),&$+7!.#%0&-#*1&*1%&$+'0#*#+',&+=&?+"!+")*%&Y+3%"')'$%&),&,*#!/.)*%0&#'&*1%&!"+3#,#+'&),&,!%$#9%0&#'&?1)!*%"&\Z&+=&@6a\&D%2/.)*#+',&)'0&?.)/,%&cV&+=&*1%&S#,*#'2&B2"%%7%'*&+=&*1%&,)#0&?+7!)'4&-#*1&,*+$<&%A$1)'2%,55

F%&,*)*%&*1)*&'+&\'3%,*+"&Y"#%3)'$%,&)"%&!%'0#'2&=+"&)&!%"#+0&%A$%%0#'2&+'%&7+'*1&)2)#',*&*1%&?+7!)'4&),&!%"&*1%&"%$+"0&7)#'*)#'%0&:4&*1%&@1)"%1+.0%",g\'3%,*+",&Y"#%3)'$%&?+77#**%%5

F%& =/"*1%"&,*)*%& *1)*& ,/$1&$+7!.#)'$%& #,&'%#*1%"&),&),,/")'$%&),& *+& *1%& =/*/"%&3#):#.#*4&+=& *1%&?+7!)'4&'+"& *1%&%=9$#%'$4&+"&%==%$*#3%'%,,&-#*1&-1#$1&*1%&7)')2%7%'*&1),&$+'0/$*%0&*1%&)==)#",&+=&*1%&?+7!)'45

For BATLIBOI & PUROHIT

?1)"*%"%0&B$$+/'*)'*,

\?B\&^#"7&D%2#,*")*#+'&K/7:%"I&NRNRcjF

Kaushal Mehta

Mumbai, Partner

13th August, 2016 &JE%7:%",1#!&K/7:%"I&NNNWcVL

48

Independent Auditors’ Report To the Members of Taparia Tools Ltd.

Report on the Financial Statements

F%&1)3%&)/0#*%0&*1%&)$$+7!)'4#'2&9')'$#).&,*)*%7%'*,&+=&;)!)"#)&;++.,&S*05&JX*1%&?+7!)'4[L&-1#$1&$+7!"#,%&*1%&Balance Sheet as at 31st&E)"$18&ORNP8&*1%&@*)*%7%'*&+=&M"+9*&)'0&S+,,8&*1%&?),1&^.+-&@*)*%7%'*&=+"&*1%&4%)"&*1%'&%'0%08&)'0&)&,/77)"4&+=&*1%&,#2'#9$)'*&)$$+/'*#'2&!+.#$#%,&)'0&+*1%"&%A!.)')*+"4&#'=+"7)*#+'5&

Management’s Responsibility for the Financial Statements

;1%&?+7!)'4H,&a+)"0&+=&C#"%$*+",& #,& "%,!+',#:.%& =+"& *1%&7)**%",&,*)*%0& #'&@%$*#+'&NTcJQL&+=& *1%&?+7!)'#%,&B$*8&ORNT& JX*1%&B$*[L&-#*1& "%,!%$*& *+& *1%&!"%!)")*#+'&+=& *1%,%& 9')'$#).& ,*)*%7%'*,& *1)*& 2#3%& )& *"/%& )'0& =)#"& 3#%-&+=&*1%& 9')'$#).& !+,#*#+'8& 9')'$#).& !%"=+"7)'$%& )'0& $),1& (+-,& +=& *1%& ?+7!)'4& #'& )$$+"0)'$%&-#*1& *1%& )$$+/'*#'2&!"#'$#!.%,&2%'%")..4&)$$%!*%0&#'&\'0#)8&#'$./0#'2&*1%&B$$+/'*#'2&@*)'0)"0,&,!%$#9%0&/'0%"&@%$*#+'&NTT&+=&*1%&B$*8&"%)0&-#*1&D/.%&W&+=&*1%&?+7!)'#%,&JB$$+/'*,L&D/.%,8&ORNc5&;1#,&"%,!+',#:#.#*4&).,+&#'$./0%,&7)#'*%')'$%&+=&)0%G/)*%&)$$+/'*#'2&"%$+"0,&#'&)$$+"0)'$%&-#*1&*1%&!"+3#,#+',&+=&*1%&B$*&=+"&,)=%2/)"0#'2&+=&*1%&),,%*,&+=&*1%&?+7!)'4&)'0&=+"&preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; 7)<#'2&]/027%'*,&)'0&%,*#7)*%,&*1)*&)"%&"%),+'):.%&)'0&!"/0%'*h&)'0&0%,#2'8&#7!.%7%'*)*#+'&)'0&7)#'*%')'$%&+=&)0%G/)*%&#'*%"').&9')'$#).&$+'*"+.,8&*1)*&-%"%&+!%")*#'2&%==%$*#3%.4&=+"&%',/"#'2&*1%&)$$/")$4&)'0&$+7!.%*%'%,,&+=&*1%&)$$+/'*#'2&"%$+"0,8&"%.%3)'*&*+&*1%&!"%!)")*#+'&)'0&!"%,%'*)*#+'&+=&*1%&9')'$#).&,*)*%7%'*,&*1)*&2#3%&)&*"/%&)'0&fair view and are free from material misstatement, whether due to fraud or error.

Auditors’ Responsibility

b/"&"%,!+',#:#.#*4&#,&*+&%A!"%,,&)'&+!#'#+'&+'&*1%,%&9')'$#).&,*)*%7%'*,&:),%0&+'&+/"&)/0#*5

F%&1)3%&*)<%'&#'*+&)$$+/'*&*1%&!"+3#,#+',&+=&*1%&B$*8&*1%&)$$+/'*#'2&)'0&)/0#*#'2&,*)'0)"0,&)'0&7)**%",&-1#$1&)"%&required to be included in the audit report under the provisions of the Act and the Rules made there under.

F%&$+'0/$*%0&+/"&)/0#*&#'&)$$+"0)'$%&-#*1&*1%&@*)'0)"0,&+'&B/0#*#'2&,!%$#9%0&/'0%"&@%$*#+'&NcTJNRL&+=&*1%&B$*5&Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable ),,/")'$%&):+/*&-1%*1%"&*1%&9')'$#).&,*)*%7%'*,&)"%&="%%&="+7&7)*%"#).&7#,,*)*%7%'*5

B'&)/0#*&#'3+.3%,&!%"=+"7#'2&!"+$%0/"%,&*+&+:*)#'&)/0#*&%3#0%'$%&):+/*&*1%&)7+/'*,&)'0&*1%&0#,$.+,/"%,&#'&*1%&9')'$#).&,*)*%7%'*,5&;1%&!"+$%0/"%,&,%.%$*%0&0%!%'0&+'&*1%&)/0#*+"H,& ]/027%'*8& #'$./0#'2&*1%&),,%,,7%'*&+=&*1%&"#,<,&+=&7)*%"#).&7#,,*)*%7%'*&+=&*1%&9')'$#).&,*)*%7%'*,8&-1%*1%"&0/%&*+&=")/0&+"&%""+"5&\'&7)<#'2&*1+,%&"#,<&),,%,,7%'*,8&*1%&)/0#*+"&$+',#0%",&#'*%"').&9')'$#).&$+'*"+.&"%.%3)'*&*+&*1%&?+7!)'4H,&!"%!)")*#+'&+=&*1%&9')'$#).&,*)*%7%'*,&*1)*&give a true and fair view in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting %,*#7)*%,&7)0%&:4&*1%&?+7!)'4H,&C#"%$*+",8&),&-%..&),&%3)./)*#'2&*1%&+3%")..&!"%,%'*)*#+'&+=&*1%&9')'$#).&,*)*%7%'*5

F%&:%.#%3%&*1)*&*1%&)/0#*&%3#0%'$%&-%&1)3%&+:*)#'%0&#,&,/=9$#%'*&)'0&)!!"+!"#)*%&*+&!"+3#0%&)&:),#,&=+"&+/"&)/0#*&+!#'#+'&+'&*1%&9')'$#).&,*)*%7%'*,5

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid 9')'$#).&,*)*%7%'*,&2#3%&*1%&#'=+"7)*#+'&"%G/#"%0&:4&*1%&B$*&#'&*1%&7)''%"&,+&"%G/#"%0&)'0&2#3%&)&*"/%&)'0&=)#"&3#%-&#'&$+'=+"7#*4&-#*1&*1%&)$$+/'*#'2&!"#'$#!.%,&2%'%")..4&)$$%!*%0&#'&\'0#)8&+=&*1%&,*)*%&+=&)==)#",&+=&*1%&?+7!)'4&),&)*&31st&E)"$18&ORNP8&)'0&#*,&!"+9*,&)'0&#*,&$),1&(+-,&=+"&*1%&4%)"&%'0%0&+'&*1)*&0)*%5

Report on Other Legal and Regulatory Requirements

N& B,&"%G/#"%0&:4&?+7!)'#%,&JB/0#*+",&D%!+"*L&b"0%"8&ORNP&Jo*1%&b"0%"HL&#,,/%0&:4&?%'*").&Y+3%"'7%'*&+=&\'0#)&in terms of sub section 11 of section 143 of the Act, we give in the Annexure –A a statement on the matters ,!%$#9%0&#'&!)")2")!1,&T&)'0&c&+=&*1%&+"0%"5

49

@$ F2$/#=.(/#,$D;$G#1+(&)$BHI$JI>$&3$+"#$F1+9$K#$/#7&/+$+"*+<

J)L& F%&1)3%&,+/21*&)'0&+:*)#'%0&)..&*1%&#'=+"7)*#+'&)'0&%A!.)')*#+',&-1#$1&*+&*1%&:%,*&+=&+/"&<'+-.%02%&)'0&belief were necessary for the purposes of our audit.

J:L& \'&+/"&+!#'#+'8&!"+!%"&:++<,&+=&)$$+/'*&),&"%G/#"%0&:4&.)-&1)3%&:%%'&<%!*&:4&*1%&?+7!)'4&,+&=)"&),&#*&appears from our examination of those books.

J$L& ;1%&a).)'$%&@1%%*8&*1%&@*)*%7%'*&+=&M"+9*&)'0&S+,,8&)'0&*1%&?),1&^.+-&@*)*%7%'*&0%).*&-#*1&:4&*1#,&D%!+"*&are in agreement with the books of account.

J0L& \'&+/"&+!#'#+'8&*1%&)=+"%,)#0&9')'$#).&,*)*%7%'*,&$+7!.4&-#*1&*1%&B$$+/'*#'2&@*)'0)"0,&,!%$#9%0&/'0%"&@%$*#+'&NTT&+=&*1%&B$*8&"%)0&-#*1&D/.%&W&+=&*1%&?+7!)'#%,&JB$$+/'*,L&D/.%,8&ORNc5

J%L& b'&*1%&:),#,&+=&*1%&-"#**%'&"%!"%,%'*)*#+',&"%$%#3%0&="+7&*1%&0#"%$*+",&),&+'&TN,*&E)"$18&ORNP&*)<%'&+'&"%$+"0&:4&*1%&a+)"0&+=&C#"%$*+",8&'+'%&+=&*1%&0#"%$*+",&#,&0#,G/).#9%0&),&+'&TN,*&E)"$18&ORNP&="+7&:%#'2&)!!+#'*%0&),&)&C#"%$*+"&#'&*%"7,&+=&@%$*#+'&NPc&JOL&+=&*1%&B$*5

J=L& F#*1&"%,!%$*&*+&*1%&)0%G/)$4&+=&*1%&#'*%"').&9')'$#).&$+'*"+.,&+3%"&9')'$#).&"%!+"*#'2&+=&*1%&?+7!)'4&)'0&*1%&+!%")*#'2&%==%$*#3%'%,,&+=&,/$1&$+'*"+.,&"%=%"&*+&+/"&,%!)")*%&"%!+"*&#'&oB''%A/"%&aH&)'0

J2L& F#*1&"%,!%$*&*+&*1%&+*1%"&7)**%",&*+&:%&#'$./0%0&#'&*1%&B/0#*+"H,&D%!+"*&#'&)$$+"0)'$%&-#*1&D/.%&NN&+=&*1%&?+7!)'#%,&JB/0#*&)'0&B/0#*+",L&D/.%,8&ORNc8&#'&+/"&+!#'#+'&)'0&*+&*1%&:%,*&+=&+/"&#'=+"7)*#+'&)'0&)$$+"0#'2&*+&*1%&%A!.)')*#+',&2#3%'&*+&/,I

& #5& ;1%&?+7!)'4&1),&0#,$.+,%0&*1%& #7!)$*&+=&!%'0#'2& .#*#2)*#+',&+'& #*,&9')'$#).&!+,#*#+'& #'& #*,&9')'$#).&,*)*%7%'*,d"%=%"&'+*%,&*+&*1%&9')'$#).&,*)*%7%'*,5

& ##5& ;1%&?+7!)'4&0#0&'+*&1)3%&)'4&.+'2d*%"7&$+'*")$*,&#'$./0#'2&0%"#3)*#3%&$+'*")$*,&=+"&-1#$1&*1%"%&-%"%&any material foreseeable losses;

iii. There were no amounts which were required to be transferred to the Investor Education and Protection ^/'0&:4&*1%&?+7!)'45


?1)"*%"%0&B$$+/'*)'*,

\?B\&^#"7&D%2#,*")*#+'&K/7:%"I&NRNRcjF

Kaushal Mehta

Partner

JE%7:%",1#!&K/7:%"I&NNNWcVL

Mumbai

C)*%I&TRth May, 2016

50

J#L& )L& ;1%& ?+7!)'4& 1),&7)#'*)#'%0& !"+!%"& "%$+"0,&showing full particulars, including quantitative 0%*)#.,&)'0&,#*/)*#+'&+=&9A%0&),,%*,5

:L& B,& #'=+"7%08& )..& 9A%0& ),,%*,& -%"%& !14,#$)..4&3%"#9%0& :4& *1%& 7)')2%7%'*& 0/"#'2& *1%& 4%)"8&and no material discrepancies were noticed on ,/$1&3%"#9$)*#+'5

$L& B$$+"0#'2&*+&*1%&#'=+"7)*#+'&)'0&%A!.)')*#+',&given to us and on the basis of our examination +=&*1%&"%$+"0,&+=&*1%&?+7!)'48&*1%&*#*.%&0%%0,&of immovable properties are held in the name +=&*1%&?+7!)'45& & &

J##L& ;1%&7)')2%7%'*&1),&$+'0/$*%0&!14,#$).&3%"#9$)*#+'&of inventory at reasonable intervals during the year and no material discrepancies were noticed on such !14,#$).&3%"#9$)*#+'5& & &

J###L& B$$+"0#'2&*+&*1%&#'=+"7)*#+'&)'0&%A!.)')*#+',&2#3%'&

*+& /,8& *1%& ?+7!)'4& 1),& '+*& 2")'*%0& )'4& .+)',8&,%$/"%0&+"&/',%$/"%0&*+&?+7!)'#%,8&^#"7,8&S#7#*%0&Liability Partnerships or other parties covered in the register maintained under section 189 of the ?+7!)'#%,&B$*5&B$$+"0#'2.4&$.)/,%&T&J###L&J)L&)'0&J:L&+=&*1%&+"0%"&)"%&'+*&)!!.#$):.%&*+&*1%&?+7!)'45& &

J#3L& \'& +/"& +!#'#+'& )'0& )$$+"0#'2& *+& *1%& #'=+"7)*#+'&and explanations given to us, there are no loans, investments, guarantees, and securities granted in the current year, in respect of which provisions of ,%$*#+'&NjQ&)'0&NjP&+=&*1%&?+7!)'#%,&B$*&ORNT&)"%&applicable and hence not commented upon.

J3L& ;1%&?+7!)'4&1),&'+*&)$$%!*%0&)'4&0%!+,#*,&0/"#'2&the year within the meaning of the provisions of sections 73 to 76 or any other relevant provisions +=& *1%& ?+7!)'#%,& B$*& )'0& *1%& "/.%,& =")7%0& *1%"%&under.

J3#L& F%& 1)3%& :"+)0.4& "%3#%-%0& *1%& :++<,& +=& )$$+/'*&7)#'*)#'%0& :4& *1%& ?+7!)'4& !/",/)'*& *+& *1%&"/.%,& 7)0%& :4& *1%& ?%'*").& Y+3%"'7%'*& =+"& *1%&7)#'*%')'$%&+=&$+,*&"%$+"0,&/'0%"&,%$*#+'&NcjJNL&+=&*1%&?+7!)'#%,&B$*8&ORNT8&"%.)*%0&*+&*1%&7)'/=)$*/"%&of hand tools, and are of the opinion that prima =)$#%8&*1%&,!%$#9%0&)$$+/'*,&)'0&"%$+"0,&1)3%&:%%'&7)0%&)'0&7)#'*)#'%05&F%&1)3%&'+*8&1+-%3%"8&7)0%&a detailed examination of the same.

J3##L&)L& ;1%&$+7!)'4&#,&2%'%")..4&"%2/.)"&#'&0%!+,#*#'2&

Annexure – A to the Independent Auditors’ Report

(Referred to in paragraph 1 under ‘Report on other legal and Regulatory requirements’ section of our report of even date)

undisputed statutory dues including provident fund, employees’ state insurance, income-tax, sales-tax, wealth tax, service tax, duty of customs, duty of excise, value added tax, cess and any other statutory dues with the appropriate authorities.

According to the information and explanations given to us, no undisputed amounts payable in respect of provident fund, income tax, sales tax, value added tax, duty of customs, service tax, cess and other material statutory dues were in arrears as at 31 March 2016 for a period of more than six months from the date they became payable.

:L& B$$+"0#'2& *+& #'=+"7)*#+'& )'0& %A!.)')*#+',& 2#3%'&to us, the following dues of municipal tax have '+*&:%%'&0%!+,#*%0&:4&*1%&?+7!)'4&+'&)$$+/'*&+=&0#,!/*%I

Name of statute

Nature of dues

Amount under

dispute JD,5&#'&S)<1,L

Period to which the amount relates

^+"/7&where

dispute is pending

Municipal Tax Act,

1963

Octroi duty

4.91 1984-1986 & 1988

>#21&?+/"*

J3###L&;1%&?+7!)'4&1),&'+*&0%=)/.*%0&#'&"%!)47%'*&+=&)'4&.+)',& ="+7& 9')'$#).& #',*#*/*#+'8& :)'<8& Y+3%"'7%'*&or debenture holders.

J#AL& ;1%& ?+7!)'4& 1),& '+*& ")#,%0& )'4& 7+'%4& :4& -)4&

of initial public offer or further public offer and the ?+7!)'4&1),&'+*& *)<%'&)'4& *%"7& .+)'&0/"#'2& *1%&year.

JAL& B,&!%"&*1%&#'=+"7)*#+'&)'0&%A!.)')*#+'&2#3%'&:4&*1%&

management we report that no fraud on or by the ?+7!)'4&1),&:%%'&'+*#$%0&+"&"%!+"*%0&0/"#'2&*1%&year.

JA#L& B$$+"0#'2&*+&*1%&#'=+"7)*#+'&)'0&%A!.)')*#+',&2#3%'&

by the management, managerial remuneration has been paid / provided in accordance with the requisite approvals mandated by the provisions of ,%$*#+'&NVW&"%)0&-#*1&@$1%0/.%&Z&*+&*1%&?+7!)'#%,&Act, 2013.

JA##L&\'&+/"&+!#'#+'&)'0&)$$+"0#'2&*+&*1%&#'=+"7)*#+'&)'0&

51

%A!.)')*#+',&2#3%'&*+&/,&*1%&?+7!)'4&#,&'+*&)&K#01#&?+7!)'45&B$$+"0#'2.4& *1%&!)")2")!1&T&JA##L&+=& *1%&Order is not applicable.

JA###L According to the information and explanations given

to us and based on our examination of the records of *1%&?+7!)'48&*")',)$*#+',&-#*1&*1%&"%.)*%0&!)"*#%,&are in compliance with sections 177 and 188 of the Act where applicable and details of such transactions 1)3%&:%%'&0#,$.+,%0& #'&*1%&9')'$#).&,*)*%7%'*,&),&required by the applicable accounting standards.

JA3#L As informed and based on our examination of

"%$+"0,&+=&*1%&?+7!)'48&*1%&?+7!)'4&1),&'+*&7)0%&any preferential allotment or private placement of shares or fully or partly convertible debentures during the year under review.

JA3L& B,&#'=+"7%0&*1%&?+7!)'4&1),&'+*&%'*%"%0&#'*+&)'4&

non-cash transactions with Directors or persons connected with him

JA3#L As per the information and explanations provided

*+&/,8&*1%&?+7!)'4&#,&'+*&"%G/#"%0&*+&:%&"%2#,*%"%0&under section 45-IA of the Reserve Bank of India, 1934.


?1)"*%"%0&B$$+/'*)'*,

\?B\&^#"7&D%2#,*")*#+'&K/7:%"I&NRNRcjF

Kaushal Mehta

Partner

JE%7:%",1#!&K/7:%"I&NNNWcVL

Mumbai,

30th May, 2016

52

F%& 1)3%& )/0#*%0& *1%& #'*%"').& 9')'$#).& $+'*"+.,& +3%"&9')'$#).&"%!+"*#'2&+=&;)!)"#)&;++.,&S*05&JX*1%&?+7!)'4[L&),&+=&TN,*&E)"$1&ORNP&#'&$+']/'$*#+'&-#*1&+/"&)/0#*&+=&*1%&,*)'0).+'%&9')'$#).&,*)*%7%'*,&+=&*1%&?+7!)'4&=+"&the year ended on that date.

Management’s Responsibility for Internal Financial Controls

;1%& ?+7!)'4H,& 7)')2%7%'*& #,& "%,!+',#:.%& =+"&%,*):.#,1#'2& )'0&7)#'*)#'#'2& #'*%"').& 9')'$#).& $+'*"+.,&:),%0& +'& *1%& #'*%"').& $+'*"+.& +3%"& 9')'$#).& "%!+"*#'2&$"#*%"#)& %,*):.#,1%0& :4& *1%& ?+7!)'4& $+',#0%"#'2& *1%&essential components of internal control stated in the Y/#0)'$%&K+*%&+'&B/0#*&+=&\'*%"').& #')'$#).&?+'*"+.,&+3%"&^#')'$#).&D%!+"*#'2&#,,/%0&:4&*1%&\',*#*/*%&+=&?1)"*%"%0&B$$+/'*)'*,& +=& \'0#)& Jo\?B\HL5& ;1%,%& "%,!+',#:#.#*#%,&include the design, implementation and maintenance of )0%G/)*%&#'*%"').&9')'$#).&$+'*"+.,&*1)*&-%"%&+!%")*#'2&%==%$*#3%.4&=+"&%',/"#'2&*1%&+"0%".4&)'0&%=9$#%'*&$+'0/$*&of its business, including adherence to company’s policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely !"%!)")*#+'&+=&"%.#):.%&9')'$#).&#'=+"7)*#+'8&),&"%G/#"%0&/'0%"&*1%&?+7!)'#%,&B$*8&ORNT5

Auditors’ Responsibility

b/"&"%,!+',#:#.#*4&#,&*+&%A!"%,,&)'&+!#'#+'&+'&*1%&?+7!)'4H,&#'*%"').&9')'$#).&$+'*"+.,&+3%"&9')'$#).&"%!+"*#'2&:),%0&+'&+/"&)/0#*5&F%&$+'0/$*%0&+/"&)/0#*&#'&)$$+"0)'$%&-#*1&*1%&Y/#0)'$%&K+*%&+'&B/0#*&+=&\'*%"').&^#')'$#).&?+'*"+.,&+3%"&^#')'$#).&D%!+"*#'2&J*1%&XY/#0)'$%&K+*%[L&)'0&*1%&@*)'0)"0,& +'&B/0#*#'28& #,,/%0&:4& \?B\& )'0&0%%7%0& *+&:%&!"%,$"#:%0&/'0%"&,%$*#+'&NcTJNRL&+=& *1%&?+7!)'#%,&Act, 2013, to the extent applicable to an audit of internal 9')'$#).&$+'*"+.,8&:+*1&)!!.#$):.%&*+&)'&)/0#*&+=&\'*%"').&^#')'$#).& ?+'*"+.,& )'08& :+*1& #,,/%0& :4& *1%& \',*#*/*%& +=&?1)"*%"%0& B$$+/'*)'*,& +=& \'0#)5& ;1+,%& @*)'0)"0,& )'0&the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal 9')'$#).&$+'*"+.,&+3%"&9')'$#).&"%!+"*#'2&-),&%,*):.#,1%0&and maintained and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit %3#0%'$%& ):+/*& *1%& )0%G/)$4& +=& *1%& #'*%"').& 9')'$#).&$+'*"+.,& ,4,*%7& +3%"& 9')'$#).& "%!+"*#'2& )'0& *1%#"&+!%")*#'2& %==%$*#3%'%,,5& b/"& )/0#*& +=& #'*%"').& 9')'$#).&$+'*"+.,& +3%"& 9')'$#).& "%!+"*#'2& #'$./0%0& +:*)#'#'2& )'&

/'0%",*)'0#'2&+=&#'*%"').&9')'$#).&$+'*"+.,&+3%"&9')'$#).&reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the )/0#*+"H,&]/027%'*8&#'$./0#'2&*1%&),,%,,7%'*&+=&*1%&"#,<,&+=& 7)*%"#).& 7#,,*)*%7%'*& +=& *1%& 9')'$#).& ,*)*%7%'*,8&whether due to fraud or error.F%& :%.#%3%& *1)*& *1%& )/0#*& %3#0%'$%& -%& 1)3%& +:*)#'%0&#,& ,/=9$#%'*&)'0&)!!"+!"#)*%& *+&!"+3#0%&)&:),#,& =+"&+/"&)/0#*&+!#'#+'&+'&*1%&?+7!)'4H,&#'*%"').&9')'$#).&$+'*"+.,&,4,*%7&+3%"&9')'$#).&"%!+"*#'25

Meaning of Internal Financial Controls over Financial Reporting

B& $+7!)'4H,& #'*%"').& 9')'$#).& $+'*"+.& +3%"& 9')'$#).&reporting is a process designed to provide reasonable ),,/")'$%&"%2)"0#'2&*1%&"%.#):#.#*4&+=&9')'$#).&"%!+"*#'2&)'0&*1%&!"%!)")*#+'&+=&9')'$#).&,*)*%7%'*,&=+"&%A*%"').&purposes in accordance with generally accepted )$$+/'*#'2& !"#'$#!.%,5& B& $+7!)'4H,& #'*%"').& 9')'$#).&$+'*"+.& +3%"& 9')'$#).& "%!+"*#'2& #'$./0%,& *1+,%& !+.#$#%,&and procedures that

JNL& !%"*)#'& *+& *1%& 7)#'*%')'$%& +=& "%$+"0,& *1)*8& #'&"%),+'):.%& 0%*)#.8& )$$/")*%.4& )'0& =)#".4& "%(%$*& *1%&transactions and dispositions of the assets of the company;

JOL& !"+3#0%& "%),+'):.%& ),,/")'$%& *1)*& *")',)$*#+',&are recorded as necessary to permit preparation of 9')'$#).& ,*)*%7%'*,& #'& )$$+"0)'$%& -#*1& 2%'%")..4&accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorisations of management and directors of the company; and

JTL& !"+3#0%&"%),+'):.%&),,/")'$%&"%2)"0#'2&!"%3%'*#+'&or timely detection of unauthorised acquisition, use, or disposition of the company’s assets that could 1)3%&)&7)*%"#).&%==%$*&+'&*1%&9')'$#).&,*)*%7%'*,5

Inherent Limitations of Internal Financial Controls over Financial Reporting

a%$)/,%&+=& *1%& #'1%"%'*& .#7#*)*#+',&+=& #'*%"').&9')'$#).&$+'*"+.,&+3%"&9')'$#).&"%!+"*#'28&#'$./0#'2&*1%&!+,,#:#.#*4&of collusion or improper management override of controls, material misstatements due to error or fraud 7)4&+$$/"&)'0&'+*&:%&0%*%$*%05&B.,+8&!"+]%$*#+',&+=&)'4&%3)./)*#+'&+=&*1%&#'*%"').&9')'$#).&$+'*"+.,&+3%"&9')'$#).&

Annexure – B to the Auditors’ Report

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the 0&'7*)(#2$F1+9$@ABI$JL+"#$F1+M>

53

"%!+"*#'2& *+& =/*/"%&!%"#+0,&)"%& ,/:]%$*& *+& *1%& "#,<& *1)*&*1%&#'*%"').&9')'$#).&$+'*"+.&+3%"&9')'$#).&"%!+"*#'2&7)4&become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Opinion

\'&+/"&+!#'#+'8&*1%&?+7!)'4&1),8&#'&)..&7)*%"#).&"%,!%$*,8&)'& )0%G/)*%& #'*%"').& 9')'$#).& $+'*"+.,& ,4,*%7& +3%"&9')'$#).& "%!+"*#'2& )'0& ,/$1& #'*%"').& 9')'$#).& $+'*"+.,&+3%"& 9')'$#).& "%!+"*#'2& -%"%& +!%")*#'2& %==%$*#3%.4& ),&at 31st March 2016, based on the internal control over 9')'$#).& "%!+"*#'2& $"#*%"#)& %,*):.#,1%0&:4& *1%&?+7!)'4&

considering the essential components of internal control ,*)*%0&#'&*1%&Y/#0)'$%&K+*%&+'&B/0#*&+=&\'*%"').& #')'$#).&?+'*"+.,&b3%"&^#')'$#).&D%!+"*#'2&#,,/%0&:4&*1%&\',*#*/*%&+=&?1)"*%"%0&B$$+/'*)'*,&+=&\'0#)5


?1)"*%"%0&B$$+/'*)'*,

\?B\&^#"7&D%2#,*")*#+'&K/7:%"I&NRNRcjF

Kaushal Mehta

Mumbai, Partner

30th May, 2016 JE%7:%",1#!&K/7:%"I&NNNWcVL

54

(` in lakhs)

Note No.

As at 31st March, 2016


EQUITY AND LIABILITIES

Shareholders' Funds

Share Capital 1 303.58 303.58

Reserves & Surplus 2 7,804.96 6,539.75

8,108.54 6,843.33

Non-Current Liabilities

Long-term Borrowings 3 - -

Long-term Provisions 4 275.95 327.72

275.95 327.72

Current Liabilities

Short-term Borrowings 5 2,746.45 2,341.72

Trade Payables 3,087.89 1,659.18

Other Current Liabilities 6 359.47 554.86

Short-term Provisions 7 141.72 180.57

6,335.53 4,736.33

Total 14,720.02 11,907.38

ASSETS

Non-current Assets

Fixed Assets

Tangible Assets 8 574.54 536.55

Intangible Assets 6.11 5.86

Deferred Tax Assets (net) 59.44 40.42

Long term Loans and Advances 9 2,389.04 2,771.75

3,029.13 3,354.58

Current Assets

Inventories 10 9,166.19 6,302.23

Trade Receivables 11 2,281.68 2,012.23

Cash and Bank Balances 12 23.43 57.53

Short-term Loans and Advances 13 214.93 172.40

Other Current Assets 14 4.66 8.41

11,690.89 8,552.80

Total 14,720.02 11,907.38

BALANCE SHEET as at 31St March, 2016

As per our report of even date

For BATLIBOI & PUROHIT V.S.DATEY H. N. TAPARIA (DIN: 00126774)

Chartered Accountants Company Secretary Chairman & Managing Director

(Firm Reg.No.101048W)

KAUSHAL MEHTA S. R. BAGAD J. K. TAPARIA (DIN: 00126945)

Partner !"#$%&'#()(*#)+&,%-*$. Director

(Membership No.111749)

Mumbai, May 30, 2016 Mumbai, May 30, 2016

55

STATEMENT OF PROFIT & LOSS for the year ended 31st March, 2016

(` in lakhs)

Note No.

2015-16 2014-15

INCOME

Revenue from Operations 15 33,755.53 29,730.75

Other Income 16 55.18 24.73

Total Revenue 33,810.71 29,755.48

EXPENDITURE

Cost of Materials Consumed 17 1,422.26 1,426.33

Purchases of Traded Goods 23,399.81 18,453.64

Changes in Inventories of Finished Goods, Work-in-Progress and Stock-in-Trade

18 (2,776.67) (609.93)

/01+23$$&4$($-56&/71$(6$ 19 2,406.23 2,405.63

Finance Costs 20 225.66 165.60

Depreciation and Amortization Expense 21 44.47 (87.83)

Other Expenses 22 7,155.48 6,491.50

Total Expenses 31,877.24 28,244.94

& 8.2-5&4$%2.$&9)7 1,933.47 1,510.54

Income Tax Expenses :

Current Tax 687.27 502.49

Deferred Tax (19.01) 35.07

668.26 537.56

& 8.2-5&%2.&5"$&:$). 1,265.21 972.98

Earnings per equity share of face value of Rs. 10 each (in `)

Basic and Diluted 41.68 32.05

;#<(#-*)(5&=**2>(5#(<&82+#*#$6 23

Notes on Financial Statements 24-37

The accompnying notes 1 to 37 are an integral part of the Financial Statements

As per our report of even date

For BATLIBOI & PUROHIT V.S.DATEY H. N. TAPARIA (DIN: 00126774)

Chartered Accountants Company Secretary Chairman & Managing Director

(Firm Reg.No.101048W)

KAUSHAL MEHTA S. R. BAGAD J. K. TAPARIA (DIN: 00126945)

Partner !"#$%&'#()(*#)+&,%-*$. Director

(Membership No.111749)

Mumbai, May 30, 2016 Mumbai, May 30, 2016

56

(` in lakhs)



1 SHARE CAPITAL

Authorised

50,00,000 Equity Shares of Rs.10/- Each 500.00 500.00

Issued and Subscribed : 303.58 303.58

30,35,750 (2015 : 30,35,750 ) Ordinary (Equity) Shares of Rs. 10/- Each fully paid-up

a) Reconciliation of Shares Outstanding

Balance at the beginning of the year 303.58 303.58

Issued during the year - -

Balance at the end of the year 303.58 303.58

b) Details of Shareholders holding more than 5% shares

Names of shareholders:

1. Shri Harnarayan Taparia 12.01% 12.01%

2. Veer Enterprises Ltd. 9.04% 9.04%

3. Mrs. Rajdulari Devi Taparia 5.96% 5.96%

c) Rights, Preference and Restriction attached to Shares

The Company has one class of Equity Shares having par value of Rs.10/- per share. Each Shareholder is eligible for one vote per share held. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion of their shareholding.

2 RESERVES AND SURPLUS

Capital Reserve

Balance at the beginning and end of the year 45.00 45.00

Securities Premium Reserve


Revaluation Reserve


General Reserve

Balance at the beginning of the year 1,195.14 1,097.88

9.)(6%$..$?&%.20&;5)5$0$(5&2%&8.2-5&@&A266 128.40 97.26

Balance at the end of the year 1,323.54 1,195.14

!"#$%"&'()'!*+*,-,)*'./'0#.1*'2'3.&&

Balance at the beginning of the year 5,150.34 4,289.67

=??&B&&8.2-5&%2.&5"$&3$). 1,265.21 972.98

=??&B&&C$1.$*#)5#2(&)6&1$.&5.)(6#5#2()+&1.2D#6#2(&61$*#-$?&#(&;*"$?>+$&EE&2%&& the Companies Act, 2013

- (15.05)

Less : Transfer to General Reserve (128.40) (97.26)

Balance at the end of the year 6,287.15 5,150.34

7,804.96 6,539.75

Notes forming part of the Financial Statements

57


(` in lakhs)

As at 31st March,2016


3 LONG TERM BORROWINGS

Deferred Payment Liabilities

Sales Tax Deferral Loans (Unsecured) - -

4. LONG TERM PROVISIONS

8.2D#6#2(&%2.&$01+23$$&F$($-56

For Leave Encashment 171.33 177.98

For Group Gratuity 44.29 149.74

Other Provisions 60.33 -

275.95 327.72

5. SHORT TERM BORROWINGS

Secured :

Loans repayable on demand from Bank

Working Capital Loan from HDFC Bank Ltd. 1,793.13 2,334.49

Loans from the bank are secured by way of hypothecation on all present and future stocks, book debts and other current assests of the company Equitable mortgage on immovable property situated at 52 and 52B, MIDC, Trimbak Road, Satpur, Nashik-422 007. The Interest rate applicable is 10.35% p.a.

Working Capital Loan from ICICI Bank Ltd. 953.32 -

Loans from the bank are secured by way of hypothecation on all present and future stocks,book debts and other current assests of the company Equitable mortgage on immovable property situated at 52 and 52B, MIDC, Trimbak Road, Satpur, Nashik-422 007. The Interest rate applicable is 10.00% p.a.

Sales Tax Deferral Loans (Unsecured) - 7.23

2,746.45 2,341.72

6. OTHER CURRENT LIABILITIES

*Unpaid / Unclaimed dividends - -

Other Payables :

Payable towards statutory liabilities 58.83 77.23

Advance from Customers 27.69 63.83

/01+23$$&4$($-56&1)3)F+$& 200.52 358.24

Outstanding & Other Liabilities 72.43 55.56

359.47 554.86

* There are no amounts due and outstanding to be credited to ‘Investors Education and Protection Fund’.

There are no outstanding dues payable to Micro,Small and Medium enterprises

7. SHORT TERM PROVISIONS

Income Tax (Net of Advance Tax) 90.18 124.66

Group Gratuity 51.54 55.91

141.72 180.57

58

(` in lakhs)



9. LONG-TERM LOANS & ADVANCES

Security Deposits 63.35 57.50

Advance Income Tax & T.D.S (Net) 2.38 0.49

M.V.A.T. Receivable 2,262.98 2,472.99

Special Additional Duty Receivable 60.33 240.77

2,389.04 2,771.75

10. INVENTORIES

Raw Materials 471.96 433.48

Work-in-Progress 814.57 754.44

Finished Goods 341.75 322.63

Stock-in-Trade (Goods aquired for Trading) 7,211.26 4,506.38

Stores and Spares 267.84 212.06

Others :

Components 38.62 45.61

Scrap 20.18 27.63

9,166.19 6,302.23

11. TRADE RECEIVABLES

(Unsecured, Considered Good)

Outstanding for a period exceeding six months - -

Others 2,281.68 2,012.23

2,281.68 2,012.23


8. FIXED ASSETS (` in lakhs)

DESCRIPTION

G R O S S B L O C K D E P R E C I A T I O N N E T B LO C K

As on 01.04.2015

Additions Deduction/Adjustments

As on 31.03.2016

Up to 01.04.2015

For the year

Transaction Effect

Deduction/Adjustments

Up to 31.03.2016

Transfer to Reserve

As at 31.03.2016

As at 31.03.2015

(A) Tangible Assets :

(I) Own Assets

1) Land 30.27 - - 30.27 - - - - - - 30.27 30.27

2) Buildings 612.25 - - 612.25 406.67 5.07 - - 411.74 - 200.51 205.58

3) Plant & Equipment 1,971.24 62.94 - 2,034.18 1,779.54 17.74 - - 1,797.28 - 236.90 191.70

4) Furniture & Fixtures 58.19 3.03 - 61.22 41.25 3.98 - - 45.23 - 15.99 16.94

5) Vehicle 51.06 19.81 14.61 56.26 31.21 5.56 - 8.06 28.71 - 27.55 19.85

6) ,%-*$&/G>#10$(5 32.97 1.36 - 34.33 22.17 4.96 - - 27.13 - 7.20 10.80

7) Others - -

(a) Electrical Installations 104.09 - - 104.09 90.35 1.73 - - 92.08 - 12.01 13.74

(b) Computers 80.01 0.54 - 80.55 69.93 4.10 - - 74.03 - 6.52 10.08

Sub Total 2,940.08 87.68 14.61 3,013.15 2,441.12 43.14 - 8.06 2,476.20 - 536.95 498.96

(II) Leased Assets

Land 54.75 - - 54.75 17.16 - - - 17.16 - 37.59 37.59

Total (A) 2,994.83 87.68 14.61 3,067.90 2,458.28 43.14 - 8.06 2,493.36 - 574.54 536.55

(B) Intangible Assets :

Software 47.39 1.58 - 48.97 41.53 1.33 - - 42.86 - 6.11 5.86

TOTAL (A) + (B) 3,042.22 89.26 14.61 3,116.87 2,499.81 44.47 - 8.06 2,536.22 - 580.65 542.41

Previous year 3,038.54 20.00 16.32 3,042.22 2,574.22 81.15 168.98 9.40 2,477.01 22.80 542.41 464.30

* Refer note no 25

59


(` in lakhs)



12. CASH AND BANK BALANCES

a) Cash and cash equivalents

Balances with Banks 16.00 37.14

Cash on hand 7.43 12.21

b) Other Bank Balances

Margin money against LC - 8.18

23.43 57.53

13. SHORT-TERM LOANS AND ADVANCES

Unsecured (but considered good)

Advance to Employees 5.97 4.05

Advance to Suppliers 41.59 34.39

* Balance with Government Authorities 81.94 86.54

Other Receivables 64.51 24.71

Prepaid Expenses 20.92 22.71

214.93 172.40

* Service Tax, Cenvat, etc

14. OTHER CURRENT ASSETS

Interest Receivable 2.58 3.47

Outstanding Income 2.08 4.94

4.66 8.41

60

(` in lakhs)

2015-16 2014-15

15. 1 REVENUE FROM OPERATIONS

Sale of Products 8,290.14 7,948.04

Less : Excise Duty 907.42 875.82

7,382.72 7,072.22

Trading Sales 26,286.89 22,565.45

2 Other Operating Revenue

Sale of Scrap 93.41 103.12

Less : Excise Duty 10.38 11.34

83.03 91.78

DEPB Licence Incentive 2.89 1.30

33,755.53 29,730.75

16. OTHER INCOME

Interest Income 25.06 4.88

Miscellaneous Income 15.98 1.24

Miscellaneous Scrap Sales 11.23 12.02

Foreign Exchange Rate Difference 2.84 6.27

Sundry Credit Balances Written Back 0.07 0.32

55.18 24.73

17. COST OF RAW MATERIALS CONSUMED

Opening Stock 433.48 405.73

Add : Purchases 1,460.74 1,454.08

1,894.22 1,859.81

Less : Closing Stock 471.96 433.48

1,422.26 1,426.33

Details of Raw Materials consumed :

Steel 830.09 837.89

Cellouse Acetate Granules and others 592.17 588.44

1,422.26 1,426.33

18. CHANGES IN INVENTORY

Opening Stock :



Scrap 27.63 19.89

Stock in Trade 4,506.39 4,063.31

5,611.09 5,001.16

Less : Closing Stock



Scrap 20.18 27.63

Stock in Trade 7,211.26 4,506.39

8,387.76 5,611.09

(2,776.67) (609.93)


61

(` in lakhs)

2015-16 2014-15

19. EMPLOYEE BENEFITS EXPENSE

Salaries and Wages 2,039.33 2,004.00

Managerial Remuneration 71.40 70.04

Contribution to PF and Other Funds 129.93 140.18

Employee Group Gratuity 106.45 141.28

Staff Welfare Expenses 59.12 50.13

2,406.23 2,405.63

20. FINANCE COST

Interest expenses 216.50 165.35

Other Borrowing Cost 9.16 0.25

225.66 165.60

21. DEPRECIATION & AMORTISATION EXPENSES

Depreciation for the year 44.47 81.15

(As per Note 8 to the Balance Sheet)

Less : Depreciation Written back on Change of method (Refer Note 25) - 168.98

44.47 (87.83)

22. OTHER EXPENSES

Manufacturing Expenses:

Consumption of stores and Spare Parts 766.83 696.11

Power and Fuel 530.65 554.38

Water Charges 8.59 7.84

Repairs to Buildings 38.18 17.20

Repairs to Machinery 60.45 68.68

Job Work Labour Charges 548.23 510.81

Freight & Carriage 81.47 147.60

Other Manufacturing Expenses 673.39 696.02

C/F 2,707.79 2,698.64


62

(` in lakhs)

2015-16 2014-15

Other Administrative Expenses: B/F 2707.79 2698.64

Rent 35.43 19.53

Rates & Taxes 345.39 257.77

Travelling & Conveyance 49.73 38.10

Insurance 22.64 15.90

Professional & Legal Expenses 142.62 111.63

Directors' Sitting Fees 4.60 4.60

Repairs to Others 3.42 2.61

Auditors' Remuneration :

As Auditor 4.00 3.00

Taxation Matters 0.60 0.60

Company Law Matters 0.20 0.20

Reimbursement of Expenses 0.69 0.58

Printing & Stationery 21.84 19.39

Bad Debts Written Off 0.03 1.68

CSR Expenditure 28.41 29.76

Loss on Sale of Assets 2.99 6.03

Miscellaneous Expenses 171.02 107.27

833.61 618.65

Selling & Distribution Expenses :

Forwarding Expenses 456.34 389.50

Advertising/Sales Promotion Expenses and Incentive 797.48 737.71

Selling Commission 2,360.26 2,047.00

3,614.08 3,174.21

7,155.48 6,491.50


63

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Notes Forming Part of The Financial Statements

64

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69

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As at 31st March 2016


A !"#$%&'(%)*'+%,-.*"/012%"3/040/0.#

!"#$%&'(#$)"*'&"$+,- 1,933.47 1,510.54

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Depreciation 44.47 (87.83)

45'226$'7$8,9"$'*$:;-"/$.22"#2 2.99 6.03

Special Additional Duty (12.75) (1.24)

817/&<$=&"/;#$),9,7>"$?&;##"7$@** 0.07 0.32

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Inventories (2,863.96) (630.19)

$ +&,/"$H">";I,B9"2 (269.44) (141.77)

Loans and Advances 331.87 (660.56)

$ @#G"&$=1&&"7#$.22"#2 3.75 (4.72)

$ +&,/"$%,<,B9" 1,428.36 94.94

$ @#G"&$=1&&"7#$5;,B;9;#;"2 (195.38) 297.03

Provisions (90.23) 61.68

(1,655.04) (983.59)

!"#$%;.1.*"/.<%)*'+%,-.*"/0'1# 538.90 611.51

J7>'K"$+,-$%,;/ 650.00 405.00

=./%!"#$%&'(%)*'+%'-.*"/012%>3/040/0.# (111.10) 206.51

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=./%!"#$%&'(%)*'+%014.#/012%"3/040/0.# (93.88) (10.93)

Cash Flow Statement for the year ended 31st March 2016

70

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Form No. MGT-11

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Resolution No.

Description of Resolution For Against

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Note: This form of proxy in order to be effective should be duly completed and deposited at the !"#$%&"'"()*+,-").+)&/")0.123456)4.&)7"%%)&/34)89)/.:'%);"+.'")&/")-.11"4-"1"4&).+)&/")<""&$4#=)

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OP28@H,Q8>?@AR:8;87@8:SSH>&+ST53=','UVVVVV2WJVX-YU5DJIIV.

ATTENDANCE SLIP

50th ANNUAL GENERAL MEETING

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01./ 2++345*6&'.718098...Shri Sivaramakrishnan Bankers 4567'2#&8'."-3 97979'2#&8'."-3 Central Bank...

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