Shree Ganesh Elastoplast Limited , a company engaged in commodity trading and stock trading, has reported a significant increase in its net profit for the financial year ended March 31, 2021. The company's performance shows a remarkable turnaround compared to the previous year.

Financial Highlights

• Net profit rose to Rs 50.96 lakh in FY2021, up from Rs 8.72 lakh in the previous year, marking a substantial 485% increase.
• Total income grew to Rs 1,247.22 lakh, compared to Rs 646.38 lakh in the previous year, representing a 93% year-on-year growth.
• Earnings per share (EPS) improved to Rs 0.93 in FY2021 from Rs 0.16 in the previous year.

Quarterly Performance

Despite the overall positive annual results, the company reported a quarterly loss in Q4 FY2021:

Business Focus

Shree Ganesh Elastoplast Limited operates solely in commodity trading and stock trading business. The significant increase in total income suggests a substantial growth in trading activities during the fiscal year.

Audit Opinion

The company's audited financial results received an unmodified opinion from statutory auditors, indicating that the financial statements present a true and fair view of the company's affairs.

Management's Perspective

While the company has not provided specific comments from the management, the substantial increase in profitability and revenue suggests effective execution of trading strategies and possibly favorable market conditions during the year.

The contrast between the strong annual performance and the quarterly loss in Q4 may indicate some challenges faced towards the end of the fiscal year, possibly due to market volatility or other factors affecting the trading business.

Investors and stakeholders will likely be watching closely to see if Shree Ganesh Elastoplast can maintain this growth trajectory in the coming years and address the factors leading to the Q4 loss.

Shree Ganesh Elastoplast Limited , a company listed on the Bombay Stock Exchange (BSE: 530797), has announced significant changes to its board of directors and set the date for its 31st Annual General Meeting (AGM).

Board Changes

The company reported the sad demise of Mr. Harish Ratilal Mehta, a director (DIN: 05316274), on August 7. The board expressed its condolences and resolved to inform the stock exchanges and regulatory authorities of this development.

In a board meeting held on August 25, the company made two key appointments:

1. Ms. Nikita Rajan Shah (DIN: 08007569) was appointed as an Additional Director in the Non-Promoter, Non-Executive category.
2. Mr. Rajesh Chinubhai Sutaria (DIN: 02102686) was also appointed as an Additional Director in the Non-Promoter, Non-Executive category.

Both Ms. Shah and Mr. Sutaria are proposed to be appointed as Independent Directors for a five-year term from October 1 to September 30, subject to shareholder approval at the upcoming AGM.

31st Annual General Meeting

The company has scheduled its 31st AGM for September 26 at 12:30 PM, to be held at the registered office. Key dates related to the AGM include:

Other Key Decisions

The board also approved the appointment of Kamlesh M Shah & Co., a peer-reviewed firm of Practicing Company Secretaries, as Secretarial Auditors for a period of five years from April 1 to March 31, subject to shareholder confirmation at the AGM.

Director Profiles

Mr. Rajesh Chinubhai Sutaria

• Commerce graduate with over 35 years of experience in corporate accounts and finance
• Currently serving as an independent director for six listed companies
• Expertise in legal provisions related to listed entities

Ms. Nikita Rajan Shah

• MBA graduate born in August 1985
• More than 15 years of experience in general administration, HR functioning, and corporate accounting

The company affirmed that neither Mr. Sutaria nor Ms. Shah is debarred from holding the office of director by any order of SEBI or any other authority.

Shree Ganesh Elastoplast Limited's proactive approach in board restructuring and commitment to corporate governance demonstrates its focus on maintaining strong leadership and compliance with regulatory requirements.